v3.25.4
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 105,996 $ 104,903
Restricted cash and restricted cash equivalents 0 363
Accounts receivable, less allowance of $3,749 in 2025 and $3,269 in 2024 343,559 322,291
Other receivables 6,147 205
Prepaid expenses 28,045 29,053
Other current assets 37,254 15,685
Total current assets 521,001 472,500
Property and equipment, net of accumulated depreciation and amortization of $340,021 in 2025 and $292,855 in 2024 297,882 326,188
Operating lease right-of-use assets 412,535 410,084
Goodwill 522,712 522,712
Other acquired intangibles, net of accumulated amortization of $301,453 in 2025 and $212,905 in 2024 906,791 999,216
Other long-term assets 58,023 71,941
Total assets 2,718,944 2,802,641
Current liabilities:    
Accounts payable 121,752 105,692
Accrued expenses 114,422 119,836
Other current liabilities 69,130 45,148
Current portion of finance lease obligations 15,995 16,930
Current portion of operating lease liabilities 107,026 96,440
Total current liabilities 428,325 384,046
Finance lease obligations, less current portion 22,387 30,858
Long-term debt 1,687,248 1,675,930
Liability under tax receivable agreement 11,548 13,295
Operating lease liabilities, less current portion 327,011 325,640
Other long-term liabilities 53,540 48,835
Deferred income taxes 27,221 38,169
Shareholders' equity:    
Preferred stock, value 0 0
Common stock, $0.01 par value: Authorized shares 50,000,000; issued and outstanding shares - 31,326,561 in 2025 and 29,761,197 in 2024 313 298
Additional paid-in capital 559,551 542,392
Accumulated deficit (447,100) (338,230)
Accumulated other comprehensive income (loss) 580 (2,732)
Total Forward Air shareholders' equity 113,344 201,728
Noncontrolling interest 48,320 84,140
Total shareholders' equity 161,664 285,868
Total liabilities and shareholders' equity 2,718,944 2,802,641
Preferred Class B    
Shareholders' equity:    
Preferred stock, value $ 0 $ 0