Forward Air (FWRD) 10-Q 27 Apr 16 2016 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2016	Apr. 22, 2016
Entity Information [Line Items]
Entity Registrant Name	FORWARD AIR CORP
Entity Central Index Key	912,728
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		30,448,892
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Current assets:
Cash	$ 38,037	$ 33,312
Accounts receivable, less allowance of $1,986 in 2016 and $2,405 in 2015	104,317	109,165
Other current assets	25,582	30,980
Total current assets	167,936	173,457
Property and equipment	344,931	343,147
Less accumulated depreciation and amortization	162,172	155,859
Total property and equipment, net	182,759	187,288
Goodwill and other acquired intangibles:
Goodwill	206,517	205,609
Other acquired intangibles, net of accumulated amortization of $53,911 in 2016 and $51,212 in 2015	125,893	127,800
Total net goodwill and other acquired intangibles	332,410	333,409
Other assets	5,948	5,778
Total assets	689,053	699,932
Current liabilities:
Accounts payable	17,810	23,334
Accrued expenses	31,153	29,823
Current portion of debt and capital lease obligations	69,785	55,887
Total current liabilities	118,748	109,044
Long-term debt and capital lease obligations, less current portion	779	28,617
Other long-term liabilities	14,049	12,340
Deferred income taxes	44,907	39,876
Shareholders' equity:
Preferred stock	0	0
Common stock, $0.01 par value: Authorized shares - 50,000,000, Issued and outstanding shares - 30,434,162 in 2016 and 30,543,864 in 2015	304	305
Additional paid-in capital	163,726	160,855
Retained earnings	346,540	348,895
Total shareholders' equity	510,570	510,055
Total liabilities and shareholders' equity	$ 689,053	$ 699,932

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Unaudited) Parenthetical - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Current assets:
Accounts receivable, allowance	$ 1,986	$ 2,405
Other acquired intangibles, accumulated amortization	$ 53,911	$ 51,212
Shareholders' equity:
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized shares (in shares)	50,000,000	50,000,000
Common stock, issued shares (in shares)	30,434,162	30,543,864
Common stock, outstanding shares (in shares)	30,434,162	30,543,864

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Operating revenue	$ 229,549	$ 205,918
Operating expenses:
Purchased transportation	96,476	89,337
Salaries, wages and employee benefits	58,678	53,903
Operating leases	13,868	15,756
Depreciation and amortization	9,668	8,684
Insurance and claims	5,395	5,130
Fuel expense	2,961	4,020
Other operating expenses	21,098	20,839
Total operating expenses	208,144	197,669
Income from operations	21,405	8,249
Other income (expense):
Interest expense	(553)	(364)
Other, net	(29)	(48)
Total other income (expense)	(582)	(412)
Income before income taxes	20,823	7,837
Income taxes	7,724	3,000
Net income and comprehensive income	$ 13,099	$ 4,837
Net income per share:
Basic (in dollars per share)	$ 0.43	$ 0.16
Diluted (in dollars per share)	0.43	0.16
Dividends per share (in dollars per share)	$ 0.12	$ 0.12

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Operating activities:
Net income	$ 13,099	$ 4,837
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	9,668	8,684
Share-based compensation	1,952	1,786
Loss (gain) on disposal of property and equipment	93	(149)
Provision for recovery on receivables	(196)	(19)
Provision for revenue adjustments	799	907
Deferred income tax	5,031	3,045
Excess tax benefit for stock options exercised	(38)	(2,329)
Changes in operating assets and liabilities
Accounts receivable	4,245	(2,332)
Prepaid expenses and other current assets	5,258	2,618
Accounts payable and accrued expenses	(2,470)	(9,589)
Net cash provided by operating activities	37,441	7,459
Investing activities:
Proceeds from disposal of property and equipment	155	582
Purchases of property and equipment	(2,688)	(5,229)
Acquisition of business, net of cash acquired	(1,700)	(62,323)
Other	22	(135)
Net cash used in investing activities	(4,211)	(67,105)
Financing activities:
Proceeds from term loan	0	125,000
Payments of debt and capital lease obligations	(13,969)	(59,116)
Proceeds from exercise of stock options	881	10,139
Payments of cash dividends	(3,678)	(3,714)
Repurchase of common stock (repurchase program)	(9,995)	0
Repurchase of common stock (restricted stock)	(1,782)	(1,926)
Excess tax benefit for stock options exercised	38	2,329
Net cash (used in) provided by financing activities	(28,505)	72,712
Net increase in cash	4,725	13,066
Cash at beginning of period	33,312	41,429
Cash at end of period	$ 38,037	$ 54,495

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business Description and Basis of Presentation [Text Block]	Basis of Presentation Forward Air Corporation's (“the Company”, “We”, “Our”) services can be classified into four principal reportable segments: Expedited LTL, Truckload Expedited Services (“TLX”), Intermodal and Pool Distribution (See note 11). In our Expedited LTL segment, we provide time-definite transportation services to the North American deferred air freight market. Our Expedited LTL service operates a comprehensive national network for the time-definite surface transportation of expedited ground freight. The Expedited LTL service offers customers local pick-up and delivery and scheduled surface transportation of cargo as a cost effective, reliable alternative to air transportation. Expedited LTL’s other services include shipment consolidation and deconsolidation, warehousing, customs brokerage, and other handling. The Expedited LTL segment primarily provides its transportation services through a network of terminals located at or near airports in the United States and Canada. In our TLX segment, we provide expedited truckload brokerage, dedicated fleet services and maximum security and temperature-controlled logistics services. We are able to expedite this service by utilizing a dedicated fleet of team owner operators, some team company drivers as well as third party transportation providers. The TLX segment provides full truckload service in the United States and Canada. In our Intermodal segments, we provide container and intermodal drayage services primarily within the Midwest region of the United States. Drayage is essentially the first and last mile of the movement of an intermodal container. We are providing this service both to and from ports and rail heads. Our Intermodal segment also provides dedicated contract and Container Freight Station (“CFS”) warehouse and handling services. Today Intermodal operates primarily in the Midwest but through acquisition as well as green-field start-ups we anticipate moving into other geographies within the United States. In our Pool Distribution segment, we provide pool distribution services throughout the Mid-Atlantic, Southeast, Midwest and Southwest continental United States. Pool distribution involves managing high-frequency handling and distribution of time-sensitive product to numerous destinations in specific geographic regions. Our primary customers for this service are regional and nationwide distributors and retailers, such as mall, strip mall and outlet based retail chains. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by United States generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. The Company’s operating results are subject to seasonal trends when measured on a quarterly basis; therefore operating results for the three months ended March 31, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016 . For further information, refer to the consolidated financial statements and notes thereto included in the Forward Air Corporation Annual Report on Form 10-K for the year ended December 31, 2015 . The accompanying unaudited condensed consolidated financial statements of the Company include Forward Air Corporation and its subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2016
Recent Accounting Pronouncements [Abstract]
Recent Accounting Pronouncements [Text Block]	Recent Accounting Pronouncements In March 2016, the Financial Accounting Standards Board (FASB) issued guidance that changes the accounting for certain aspects of share-based payments to employees. The guidance requires the recognition of the income tax effects of awards in the income statement when the awards vest or are settled, thus eliminating additional paid in capital pools. The guidance also allows for the employer to repurchase more of an employee’s shares for tax withholding purposes without triggering liability accounting. In addition, the guidance allows for a policy election to account for forfeitures as they occur rather than on an estimated basis. The guidance is effective in 2017 with early adoption permitted. We are currently evaluating the impact of this guidance on our financial statements and the timing of adoption. In February 2016, the FASB, issued ASU 2016-02, Leases, which introduces the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases under previous guidance. The guidance will be effective for annual reporting periods beginning after December 15, 2018 and interim periods within those fiscal years with early adoption permitted. We are evaluating the impact of the future adoption of this standard on our consolidated financial statements. In November 2015, the FASB issued Accounting Standard Update No. 2015-17, "Balance Sheet Classification of Deferred Taxes", an update to ASC 740, Income Taxes (“Update”). Current GAAP requires an entity to separate deferred income tax liabilities and assets into current and noncurrent amounts in a classified statement of financial position. To simplify the presentation of deferred income taxes, the amendments in this Update require that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The current requirement that deferred tax liabilities and assets of a tax-paying component of an entity be offset and presented as a single amount is not affected by the amendments in this Update. For public business entities, the amendments in this Update are effective for financial statements issued for annual periods beginning after December 15, 2017, and interim periods within those annual periods. The FASB also decided to permit earlier application by all entities as of the beginning of any interim or annual reporting period. The FASB further provides that this Update may be applied to all deferred tax liabilities and assets retrospectively to all periods presented. We adopted the Update retrospectively for the year ended December 31, 2015. In May 2014, the FASB issued guidance on revenue from contracts with customers that will supersede most current revenue recognition guidance, including industry-specific guidance. The underlying principle is that an entity will recognize revenue to depict the transfer of goods or services to customers at an amount that the entity expects to be entitled to in exchange for those goods or services. The guidance provides a five-step analysis of transactions to determine when and how revenue is recognized. Other major provisions include capitalization of certain contract costs, consideration of time value of money in the transaction price, and allowing estimates of variable consideration to be recognized before contingencies are resolved in certain circumstances. The guidance also requires enhanced disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from an entity’s contracts with customers. The guidance is effective for the interim and annual periods beginning on or after December 15, 2017. The guidance permits the use of either a retrospective or cumulative effect transition method. We have not yet selected a transition method and are currently evaluating the impact of the amended guidance on our consolidated financial position, results of operations and related disclosures.

Acquisitions and Goodwill

Acquisitions and Goodwill	3 Months Ended
	Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Acquisitions and Goodwill	Acquisitions and Goodwill Acquisition of Towne On March 9, 2015, the Company acquired CLP Towne Inc. (“Towne”) pursuant to the Agreement and Plan of Merger (the “Merger Agreement”) resulting in Towne becoming an indirect, wholly-owned subsidiary of the Company. For the acquisition of Towne, the Company paid $61,878 in net cash and assumed $59,544 in debt and capital leases. With the exception of assumed capital leases, the assumed debt was immediately paid in full after funding of the acquisition. Of the total aggregate cash consideration paid, $16,500 was placed into an escrow account, with $2,000 of such amount being available to settle any shortfall in Towne’s net working capital and with $14,500 of such amount being available for a period of time to settle certain possible claims against Towne’s common stockholders for indemnification. To the extent the escrow fund is insufficient, certain equity holders have agreed to indemnify Forward Air, subject to certain limitations set forth in the Merger Agreement, as a result of inaccuracies in or breaches of certain of Towne’s representations, warranties, covenants and agreements and other matters. Forward Air financed the Merger Agreement with a $125,000 2 year term loan available under the senior credit facility discussed in note 5. Towne is a full-service trucking provider offering time-sensitive less-than-truckload shipping, full truckload service, an extensive cartage network, container freight stations and dedicated trucking. Towne’s airport-to-airport network provides scheduled deliveries to 61 service points. A fleet of approximately 525 independent contractor tractors provides the line-haul between those service points. The acquisition of Towne provides the Epedited LTL and TLX segments with opportunities to expand their service points and service offerings, such as pick up and delivery services. Additional benefits of the acquisition include increased linehaul network shipping density and a significant increase to our owner operator fleet, both of which are key to the profitability of the Company. The assets, liabilities, and operating results of Towne have been included in the Company's consolidated financial statements from the date of acquisition and have been assigned to the Expedited LTL and TLX reportable segments. As the operations of Towne were fully integrated into the Company's existing networks and operations, the Company is not able to provide the revenue and operating results from Towne included in our consolidated revenue and results since the date of acquisition. Effective with the acquisition of Towne, the Company immediately entered into a restructuring plan to remove duplicate costs, primarily in the form of, but not limited to salaries, wages and benefits and facility leases. As a result of these plans, during the first quarter of 2015 the Company recognized expense and recorded liabilities of $2,109 and $4,664 for severance obligations and remaining net payments on vacated, duplicate facilities, respectively. The expenses associated with the severance obligations and vacated, duplicate facilities were recognized in the salaries, wages and benefits and operating lease line items, respectively. During the first quarter of 2015, the Company also incurred expense of $5,101 for various other integration and transaction related costs which are largely included in other operating expenses. In conjunction with the Towne acquisition, the Company vacated certain duplicate facilities under long-term non-cancelable leases and recorded contract termination costs. As of March 31, 2016, the Company's reserve for remaining payments on vacated facilities was $5,311 . During the three months ended March 31, 2016, we paid $1,420 in recurring payments on these non-cancelable leases. Acquisition of Ace As part of the Company's strategy to expand its Intermodal operations, in January 2016, we acquired certain assets of Ace Cargo, LLC, ("Ace") for $1,700 . The assets, liabilities, and operating results of Ace have been included in the Company's consolidated financial statements from the date of acquisition and have been assigned to the Intermodal reportable segment. Allocations of Purchase Prices The following table presents the allocations of the Towne and Ace purchase prices to the assets acquired and liabilities assumed based on their estimated fair values and resulting residual goodwill (in thousands): Ace Towne January 25, 2016 March 9, 2015 Tangible assets: Accounts receivable $ — $ 24,068 Prepaid expenses and other current assets — 2,916 Property and equipment — 2,095 Other assets — 614 Total tangible assets — 29,693 Intangible assets: Non-compete agreements 20 — Customer relationships 772 66,000 Goodwill 908 61,197 Total intangible assets 1,700 127,197 Total assets acquired 1,700 156,890 Liabilities assumed: Current liabilities — 28,920 Other liabilities — 3,886 Debt and capital lease obligations — 59,544 Deferred income taxes — 2,662 Total liabilities assumed — 95,012 Net assets acquired $ 1,700 $ 61,878 The acquired definite-live intangible assets have the following useful lives: Useful Lives Ace Towne Customer relationships 15 years 20 years Non-compete agreements 5 years - The fair value of the non-compete agreements and customer relationships assets were estimated using an income approach (level 3). Under this method, an intangible asset's fair value is equal to the present value of the incremental after-tax cash flows (excess earnings) attributable solely to the intangible asset over its remaining useful life. To estimate fair value, the Company used cash flows discounted at rates considered appropriate given the inherent risks associated with each type of asset. The Company believes that the level and timing of cash flows appropriately reflect market participant assumptions. Cash flows were assumed to extend through the remaining economic useful life of each class of intangible asset. Pro forma The following unaudited pro forma information presents a summary of the Company's consolidated results of operations as if the Towne acquisition occurred as of January 1, 2015 (in thousands, except per share data). Three months ended March 31, 2016 March 31, 2015 Operating revenue $ 229,549 $ 240,145 Income from operations 21,405 5,942 Net income 13,099 2,358 Net income per share Basic $ 0.43 $ 0.08 Diluted $ 0.43 $ 0.08 The unaudited pro forma consolidated results for the three month periods are based on the historical financial information of Towne. The unaudited pro forma consolidated results incorporate historical financial information since January 1, 2015. The historical financial information has been adjusted to give effect to pro forma adjustments that are: (i) directly attributable to the acquisition, (ii) factually supportable and (iii) expected to have a continuing impact on the combined results. The unaudited pro forma consolidated results are not necessarily indicative of what the Company’s consolidated results of operations actually would have been had it completed these acquisitions on January 1, 2015. Goodwill The following is a summary of the changes in goodwill for the three months ended March 31, 2016. Approximately $100,156 of goodwill, not including the goodwill acquired with the Towne acquisition, is deductible for tax purposes. Expedited LTL Truckload Expedited Pool Distribution Intermodal Total Accumulated Accumulated Accumulated Accumulated Goodwill Impairment Goodwill Impairment Goodwill Impairment Goodwill Impairment Net Beginning balance, December 31, 2015 $ 99,123 $ — $ 45,164 $ — $ 12,359 $ (6,953 ) $ 55,916 $ — $ 205,609 Ace Acquisition — — — — — — 908 — 908 Ending balance, March 31, 2016 $ 99,123 $ — $ 45,164 $ — $ 12,359 $ (6,953 ) $ 56,824 $ — $ 206,517 The Company conducted its annual impairment assessments and tests of goodwill for each reporting unit as of June 30, 2015 and no impairment charges were required. The first step of the goodwill impairment test is the Company assessing qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than the reporting unit's carrying amount, including goodwill. When performing the qualitative assessment, the Company considers the impact of factors including, but not limited to, macroeconomic and industry conditions, overall financial performance of each reporting unit, litigation and new legislation. If based on the qualitative assessments, the Company believes it more likely than not that the fair value of a reporting unit is less than the reporting unit's carrying amount, or periodically as deemed appropriate by management, the Company will prepare an estimation of the respective reporting unit's fair value utilizing a quantitative approach. If a quantitative fair value estimation is required, the Company estimates the fair value of the applicable reportable units, using a combination of discounted projected cash flows and market valuations for comparable companies as of the valuation date. The Company's inputs into the fair value estimates for goodwill are classified within level 3 of the fair value hierarchy as defined in the FASB Accounting Standards Codification and the Hierarchy of Generally Accepted Accounting Principles (“the FASB Codification”). If this estimation of fair value indicates that impairment potentially exists, the Company will then measure the amount of the impairment, if any. Goodwill impairment exists when the calculated implied fair value of goodwill is less than its carrying value. Changes in strategy or market conditions could significantly impact these fair value estimates and require adjustments to recorded asset balances. The Company conducted its annual impairment assessments and tests of goodwill for each reporting unit as of June 30, 2015 and no impairment charges were required. However, due to the performance of our Total Quality, Inc. operating segment, which is included in the TLX reportable segment, falling notably short of the projections used in our June 2015 impairment assessment, the Company believed there were indicators of impairment as of December 31, 2015. Therefore, the Company performed additional fair value calculations, but determined TQI's goodwill was not impaired as of December 31, 2015.

Share-Based Payments

Share-Based Payments	3 Months Ended
	Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Payments	Share-Based Payments The Company’s general practice has been to make a single annual grant of share-based compensation to key employees and to make other employee grants only in connection with new employment or promotions. Forms of share-based compensation granted to employees by the Company include stock options, non-vested shares of common stock (“non-vested share”), and performance shares. The Company also typically makes a single annual grant of non-vested shares to non-employee directors in conjunction with the annual election of non-employee directors to the Board of Directors. Share-based compensation is based on the grant date fair value of the instrument and is recognized, net of estimated forfeitures, ratably over the requisite service period, or vesting period. The Company estimates forfeitures based upon historical experience. All share-based compensation expense is recognized in salaries, wages and employee benefits. Employee Activity - Stock Options Stock option grants to employees generally expire seven years from the grant date and typically vest ratably over a three -year period. The Company used the Black-Scholes option-pricing model to estimate the grant-date fair value of options granted. The weighted-average fair value of options granted and assumptions used to estimate their fair value during the three months ended March 31, 2016 and 2015 were as follows: Three months ended March 31, March 31, Expected dividend yield 1.0 % 1.0 % Expected stock price volatility 29.0 % 33.9 % Weighted average risk-free interest rate 1.3 % 1.6 % Expected life of options (years) 6.0 6.1 Weighted average grant date fair value $ 12 $ 16 The following tables summarize the Company’s employee stock option activity and related information: Three months ended March 31, 2016 Weighted- Weighted- Aggregate Average Average Intrinsic Remaining Options Exercise Value Contractual (000) Price (000) Term Outstanding at December 31, 2015 786 $ 32 Granted 122 44 Exercised (38 ) 23 Forfeited (2 ) 38 Outstanding at March 31, 2016 868 $ 34 $ 6,709 3.3 Exercisable at March 31, 2016 633 $ 30 $ 7,481 2.3 Three months ended March 31, March 31, Share-based compensation for options $ 348 $ 336 Tax benefit for option compensation $ 129 $ 129 Unrecognized compensation cost for options, net of estimated forfeitures $ 2,789 $ 2,609 Weighted average period over which unrecognized compensation will be recognized (years) 2.2 Employee Activity - Non-vested Shares Non-vested share grants to employees vest ratably over a three -year period. The non-vested shares’ fair values were estimated using closing market prices on the day of grant. The following tables summarize the Company’s employee non-vested share activity and related information: Three months ended March 31, 2016 Weighted- Aggregate Non-vested Average Grant Date Shares Grant Date Fair Value (000) Fair Value (000) Outstanding and non-vested at December 31, 2015 191 $ 46 Granted 125 44 Vested (92 ) 44 Forfeited (2 ) 47 Outstanding and non-vested at March 31, 2016 222 $ 46 $ 10,092 Three months ended March 31, March 31, Share-based compensation for non-vested shares $ 1,082 $ 988 Tax benefit for non-vested share compensation $ 403 $ 380 Unrecognized compensation cost for non-vested shares, net of estimated forfeitures $ 9,363 $ 8,398 Weighted average period over which unrecognized compensation will be recognized (years) 2.3 Employee Activity - Performance Shares The Company annually grants performance shares to key employees. Under the terms of the performance share agreements, on the third anniversary of the grant date, the Company will issue to the employees a calculated number of common stock shares based on the three year performance of the Company’s common stock share price as compared to the share price performance of a selected peer group. No shares may be issued if the Company's share price performance outperforms 30% or less of the peer group, but the number of shares issued may be doubled if the Company's share price performs better than 90% of the peer group. The fair value of the performance shares was estimated using a Monte Carlo simulation. The weighted average assumptions used in the Monte Carlo estimate were as follows: Three months ended March 31, March 31, Expected stock price volatility 22.3 % 23.5 % Weighted average risk-free interest rate 0.8 % 1.0 % The following tables summarize the Company’s employee performance share activity, assuming median share awards, and related information: Three months ended March 31, 2016 Weighted- Aggregate Performance Average Grant Date Shares Grant Date Fair Value (000) Fair Value (000) Outstanding and non-vested at December 31, 2015 77 $ 52 Granted 29 49 Additional shares awarded based on performance 7 40 Vested (33 ) 40 Outstanding and non-vested at March 31, 2016 80 $ 55 $ 4,373 Three months ended March 31, March 31, Share-based compensation for performance shares $ 351 $ 302 Tax benefit for performance share compensation $ 131 $ 116 Unrecognized compensation cost for performance shares, net of estimated forfeitures $ 2,805 $ 2,733 Weighted average period over which unrecognized compensation will be recognized (years) 2.2 Non-employee Director Activity - Non-vested Shares Grants of non-vested shares to non-employee directors vest ratably over the elected term to the Board of Directors, or approximately one year. The following tables summarize the Company’s non-employee non-vested share activity and related information: Three months ended March 31, 2016 Weighted- Aggregate Non-vested Average Grant Date Shares Grant Date Fair Value (000) Fair Value (000) Outstanding and non-vested at December 31, 2015 15 $ 51 Granted — — Vested — — Outstanding and non-vested at March 31, 2016 15 $ 51 $ 740 Three months ended March 31, March 31, Share-based compensation for non-vested shares $ 171 $ 160 Tax benefit for non-vested share compensation $ 64 $ 61 Unrecognized compensation cost for non-vested shares, net of estimated forfeitures $ 114 $ 96 Weighted average period over which unrecognized compensation will be recognized (years) 0.3

Senior Credit Facility

Senior Credit Facility	3 Months Ended
	Mar. 31, 2016
Senior Credit Facility [Abstract]
Debt Disclosure [Text Block]	Senior Credit Facility On February 4, 2015, the Company entered into a five -year senior, unsecured credit facility (the “Facility”) with a maximum aggregate principal amount of $275,000 , including a revolving credit facility of $150,000 and a term loan facility of $125,000 . The revolving credit facility has a sublimit of $25,000 for letters of credit and a sublimit of $15,000 for swing line loans. The revolving credit facility is scheduled to expire in February 2020 and may be used to refinance existing indebtedness of the Company and for working capital, capital expenditures and other general corporate purposes. Unless the Company elects otherwise under the credit agreement, interest on borrowings under the Facility are based on the highest of (a) the federal funds rate plus 0.5% , (b) the administrative agent's prime rate and (c) the LIBOR Rate plus 1.0% , in each case plus a margin that can range from 0.1% to 0.6% with respect to the term loan facility and from 0.3% to 0.8% with respect to the revolving credit facility depending on the Company’s ratio of consolidated funded indebtedness to earnings as set forth in the credit agreement. The Facility contains financial covenants and other covenants that, among other things, restrict the ability of the Company, without the approval of the lenders, to engage in certain mergers, consolidations, asset sales, investments, transactions or to incur liens or indebtedness, as set forth in the credit agreement. As of March 31, 2016 , the Company had no borrowings outstanding under the revolving credit facility. At March 31, 2016 , the Company had utilized $11,048 of availability for outstanding letters of credit and had $138,952 of available borrowing capacity outstanding under the revolving credit facility. In conjunction with the acquisition of Towne (see note 3), the Company borrowed $125,000 on the available term loan. The term loan is payable in quarterly installments of 11.1% of the original principal amount of the term loan plus accrued and unpaid interest, and matures in March 2017. The interest rate on the term loan was 1.8% at March 31, 2016. The remaining balance on the term loan was $69,450 as of March 31, 2016 and is a current liability.

Net Income Per Share

Net Income Per Share	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Net Income Per Share	Net Income Per Share The following table sets forth the computation of basic and diluted net income per share: Three months ended March 31, March 31, Numerator: Net income and comprehensive income $ 13,099 $ 4,837 Income allocated to participating securities (64 ) (33 ) Numerator for basic and diluted income per share - net income $ 13,035 $ 4,804 Denominator (in thousands): Denominator for basic income per share - weighted-average shares 30,420 30,575 Effect of dilutive stock options (in thousands) 165 365 Effect of dilutive performance shares (in thousands) 40 41 Denominator for diluted income per share - adjusted weighted-average shares 30,625 30,981 Basic net income per share $ 0.43 $ 0.16 Diluted net income per share $ 0.43 $ 0.16 The number of instruments that could potentially dilute net income per basic share in the future, but that were not included in the computation of net income per diluted share because to do so would have been anti-dilutive for the periods presented, are as follows: March 31, March 31, Anti-dilutive stock options (in thousands) 275 151 Anti-dilutive performance shares (in thousands) 44 15 Anti-dilutive non-vested shares and deferred stock units (in thousands) 73 — Total anti-dilutive shares (in thousands) 392 166

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company or one of its subsidiaries files income tax returns in the U.S. federal jurisdiction, various states and Canada. With a few exceptions, the Company is no longer subject to U.S. federal, state and local, or Canadian examinations by tax authorities for years before 2010. For the three months ended March 31, 2016 and 2015, the effective income tax rates varied from the statutory federal income tax rate of 35.0%, primarily as a result of the effect of state income taxes, net of the federal benefit, and permanent differences between book and tax net income. The combined federal and state effective tax rate for the three months ended March 31, 2016 was 37.1% compared to a rate of 38.3% for the same period in 2015. The reduction in the 2016 effective tax rate was attributable to qualified production property deductions estimated in the first quarter of 2016.

Financial Instruments

Financial Instruments	3 Months Ended
	Mar. 31, 2016
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Financial Instruments Disclosure [Text Block]	Financial Instruments Fair Value of Financial Instruments The following methods and assumptions were used by the Company in estimating its fair value disclosures for financial instruments: Accounts receivable and accounts payable: The carrying amounts reported in the balance sheet for accounts receivable and accounts payable approximate their fair value based on their short-term nature. The Company’s revolving credit facility and term loan bear variable interest rates plus additional basis points based upon covenants related to total indebtedness to earnings. As the term loan bears a variable interest rate, the carrying value approximates fair value. Using interest rate quotes and discounted cash flows, the Company estimated the fair value of its outstanding capital lease obligations as follows: March 31, 2016 Carrying Value Fair Value Capital leases $ 1,367 $ 1,324 The Company's fair value estimates for the above financial instruments are classified within level 3 of the fair value hierarchy.

Shareholders' Equity

Shareholders' Equity	3 Months Ended
	Mar. 31, 2016
Stockholders' Equity Note [Abstract]
Shareholders' Equity	Shareholders' Equity During each quarter of 2015 and the first quarter of 2016, the Company's Board of Directors declared a cash dividend of $0.12 per share of common stock. The Company expects to continue to pay regular quarterly cash dividends, though each subsequent quarterly dividend is subject to review and approval by the Board of Directors. On February 7, 2014, our Board of Directors approved a new stock repurchase authorization for up to two million shares of our common stock. During the three months ended March 31, 2016, we repurchased 232,944 for $9,995, or an average of $42.91 per share. There were no shares repurchased by the Company for the three months ended March 31, 2015. As of March 31, 2016, 462,673 shares remain that may be repurchased.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies [Abstract]
Commitments and Contingencies	Commitments and Contingencies From time to time, the Company is party to ordinary, routine litigation incidental to and arising in the normal course of business. The Company does not believe that any of these pending actions, individually or in the aggregate, will have a material adverse effect on its business, financial condition or results of operations. The primary claims in the Company’s business relate to workers’ compensation, property damage, vehicle liability and medical benefits. Most of the Company’s insurance coverage provides for self-insurance levels with primary and excess coverage which management believes is sufficient to adequately protect the Company from catastrophic claims. In the opinion of management, adequate provision has been made for all incurred claims up to the self-insured limits, including provision for estimated claims incurred but not reported. The Company estimates its self-insurance loss exposure by evaluating the merits and circumstances surrounding individual known claims and by performing hindsight and actuarial analysis to determine an estimate of probable losses on claims incurred but not reported. Such losses should be realized immediately as the events underlying the claims have already occurred as of the balance sheet dates. Because of the uncertainty of the ultimate resolution of outstanding claims, as well as uncertainty regarding claims incurred but not reported, it is possible that management’s provision for these losses could change materially in the near term. However, no estimate can currently be made of the range of additional loss that is at least reasonably possible.

Segment Reporting

Segment Reporting	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting The Company operates in four reportable segments based on information available to and used by the chief operating decision maker. Expedited LTL provides time-definite transportation and logistics services to the deferred air freight market. TLX segment provides expedited truckload brokerage, dedicated fleet services and maximum security and temperature-controlled logistics services. Our Intermodal segment provides container and intermodal drayage services. Pool Distribution provides pool distribution services primarily to regional and national distributors and retailers. During the first quarter of 2016, we changed our reporting segments to separate our truckload and intermodal businesses from our Expedited LTL service and to aggregate our reporting for truckload services into a single segment. We previously reported three segments: Forward Air, Forward Air Solutions and Total Quality, Inc. Consequently, we now report four segments: Expedited LTL, Truckload Expedited Services (“TLX”), Intermodal and Pool Distribution. All prior year segment amounts have been restated to reflect this new reporting structure. Except for certain insurance activity, the accounting policies of the segments are the same as those described in the summary of significant accounting policies disclosed in Note 1 to the Consolidated Financial Statements included in the Company’s 2015 Annual Report on Form 10-K. For workers compensation and vehicle claims each segment is charged an insurance premium and is also charged a deductible that corresponds with the our corporate deductibles disclosed in Note 1 to the Consolidated Financial Statements included in the Company’s 2015 Annual Report on Form 10-K. However, any losses beyond our deductibles and any loss development factors applied to our outstanding claims as a result of actuary analysis are not passed to the segments, but kept at the corporate level. Segment data includes intersegment revenues. Assets and costs of the corporate headquarters are allocated to the segments based on usage. The Company evaluates the performance of its segments based on income from operations. The Company’s business is conducted in the U.S. and Canada. The following tables summarize segment information about net income and assets used by the chief operating decision maker of the Company in making decisions regarding allocation of assets and resources as of and for the three months ended March 31, 2016 and 2015. Three months ended March 31, 2016 Expedited LTL Truckload Expedited Pool Distribution Intermodal Eliminations & other Consolidated External revenues $ 133,522 $ 38,417 $ 33,057 $ 24,553 $ — $ 229,549 Intersegment revenues 855 205 135 71 (1,266 ) — Depreciation and amortization 5,548 1,740 1,485 895 — 9,668 Share-based compensation expense 1,574 155 150 73 — 1,952 Interest expense 509 — — 36 8 553 Income from operations 17,179 1,470 114 2,372 270 21,405 Total assets 635,283 90,678 47,877 120,251 (205,036 ) 689,053 Capital expenditures 2,078 13 545 52 — 2,688 Three months ended March 31, 2015 Expedited LTL Truckload Expedited Pool Distribution Intermodal Eliminations & other Consolidated External revenues $ 121,477 $ 34,266 $ 27,045 $ 22,963 $ 167 $ 205,918 Intersegment revenues 807 217 183 66 (1,273 ) — Depreciation and amortization 4,576 1,373 1,539 969 227 8,684 Share-based compensation expense 1,548 169 32 37 — 1,786 Interest expense 112 — — 23 229 364 Income from operations 14,885 3,211 216 1,989 (12,052 ) 8,249 Total assets 682,247 86,565 44,439 108,309 (206,432 ) 715,128 Capital expenditures 2,694 2,242 190 103 — 5,229

Acquisitions and Goodwill (Tabl

Acquisitions and Goodwill (Tables)	3 Months Ended
	Mar. 31, 2016
Goodwill [Line Items]
Schedule of Purchase Price Allocation [Table Text Block]	The following table presents the allocations of the Towne and Ace purchase prices to the assets acquired and liabilities assumed based on their estimated fair values and resulting residual goodwill (in thousands): Ace Towne January 25, 2016 March 9, 2015 Tangible assets: Accounts receivable $ — $ 24,068 Prepaid expenses and other current assets — 2,916 Property and equipment — 2,095 Other assets — 614 Total tangible assets — 29,693 Intangible assets: Non-compete agreements 20 — Customer relationships 772 66,000 Goodwill 908 61,197 Total intangible assets 1,700 127,197 Total assets acquired 1,700 156,890 Liabilities assumed: Current liabilities — 28,920 Other liabilities — 3,886 Debt and capital lease obligations — 59,544 Deferred income taxes — 2,662 Total liabilities assumed — 95,012 Net assets acquired $ 1,700 $ 61,878
Schedule of Acquired Finite-Lived Intangible Assets by Major Class [Table Text Block]	The acquired definite-live intangible assets have the following useful lives: Useful Lives Ace Towne Customer relationships 15 years 20 years Non-compete agreements 5 years -
Business Acquisition, Pro Forma Information [Table Text Block]	The following unaudited pro forma information presents a summary of the Company's consolidated results of operations as if the Towne acquisition occurred as of January 1, 2015 (in thousands, except per share data). Three months ended March 31, 2016 March 31, 2015 Operating revenue $ 229,549 $ 240,145 Income from operations 21,405 5,942 Net income 13,099 2,358 Net income per share Basic $ 0.43 $ 0.08 Diluted $ 0.43 $ 0.08
Schedule of Goodwill [Table Text Block]	The following is a summary of the changes in goodwill for the three months ended March 31, 2016. Approximately $100,156 of goodwill, not including the goodwill acquired with the Towne acquisition, is deductible for tax purposes. Expedited LTL Truckload Expedited Pool Distribution Intermodal Total Accumulated Accumulated Accumulated Accumulated Goodwill Impairment Goodwill Impairment Goodwill Impairment Goodwill Impairment Net Beginning balance, December 31, 2015 $ 99,123 $ — $ 45,164 $ — $ 12,359 $ (6,953 ) $ 55,916 $ — $ 205,609 Ace Acquisition — — — — — — 908 — 908 Ending balance, March 31, 2016 $ 99,123 $ — $ 45,164 $ — $ 12,359 $ (6,953 ) $ 56,824 $ — $ 206,517

Share-Based Payments (Tables)

Share-Based Payments (Tables)	3 Months Ended
	Mar. 31, 2016
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of Share-based Compensation, Activity [Table Text Block]	The weighted-average fair value of options granted and assumptions used to estimate their fair value during the three months ended March 31, 2016 and 2015 were as follows: Three months ended March 31, March 31, Expected dividend yield 1.0 % 1.0 % Expected stock price volatility 29.0 % 33.9 % Weighted average risk-free interest rate 1.3 % 1.6 % Expected life of options (years) 6.0 6.1 Weighted average grant date fair value $ 12 $ 16 The following tables summarize the Company’s employee stock option activity and related information: Three months ended March 31, 2016 Weighted- Weighted- Aggregate Average Average Intrinsic Remaining Options Exercise Value Contractual (000) Price (000) Term Outstanding at December 31, 2015 786 $ 32 Granted 122 44 Exercised (38 ) 23 Forfeited (2 ) 38 Outstanding at March 31, 2016 868 $ 34 $ 6,709 3.3 Exercisable at March 31, 2016 633 $ 30 $ 7,481 2.3 Three months ended March 31, March 31, Share-based compensation for options $ 348 $ 336 Tax benefit for option compensation $ 129 $ 129 Unrecognized compensation cost for options, net of estimated forfeitures $ 2,789 $ 2,609 Weighted average period over which unrecognized compensation will be recognized (years) 2.2
Employee Non-vested Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block]	The following tables summarize the Company’s employee non-vested share activity and related information: Three months ended March 31, 2016 Weighted- Aggregate Non-vested Average Grant Date Shares Grant Date Fair Value (000) Fair Value (000) Outstanding and non-vested at December 31, 2015 191 $ 46 Granted 125 44 Vested (92 ) 44 Forfeited (2 ) 47 Outstanding and non-vested at March 31, 2016 222 $ 46 $ 10,092 Three months ended March 31, March 31, Share-based compensation for non-vested shares $ 1,082 $ 988 Tax benefit for non-vested share compensation $ 403 $ 380 Unrecognized compensation cost for non-vested shares, net of estimated forfeitures $ 9,363 $ 8,398 Weighted average period over which unrecognized compensation will be recognized (years) 2.3
Key Employee Performance Share Based Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Performance-Based Units, Vested and Expected to Vest [Table Text Block]	The fair value of the performance shares was estimated using a Monte Carlo simulation. The weighted average assumptions used in the Monte Carlo estimate were as follows: Three months ended March 31, March 31, Expected stock price volatility 22.3 % 23.5 % Weighted average risk-free interest rate 0.8 % 1.0 % The following tables summarize the Company’s employee performance share activity, assuming median share awards, and related information: Three months ended March 31, 2016 Weighted- Aggregate Performance Average Grant Date Shares Grant Date Fair Value (000) Fair Value (000) Outstanding and non-vested at December 31, 2015 77 $ 52 Granted 29 49 Additional shares awarded based on performance 7 40 Vested (33 ) 40 Outstanding and non-vested at March 31, 2016 80 $ 55 $ 4,373 Three months ended March 31, March 31, Share-based compensation for performance shares $ 351 $ 302 Tax benefit for performance share compensation $ 131 $ 116 Unrecognized compensation cost for performance shares, net of estimated forfeitures $ 2,805 $ 2,733 Weighted average period over which unrecognized compensation will be recognized (years) 2.2
Nonemployee Director Nonvested Shares Granted Member
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block]	The following tables summarize the Company’s non-employee non-vested share activity and related information: Three months ended March 31, 2016 Weighted- Aggregate Non-vested Average Grant Date Shares Grant Date Fair Value (000) Fair Value (000) Outstanding and non-vested at December 31, 2015 15 $ 51 Granted — — Vested — — Outstanding and non-vested at March 31, 2016 15 $ 51 $ 740 Three months ended March 31, March 31, Share-based compensation for non-vested shares $ 171 $ 160 Tax benefit for non-vested share compensation $ 64 $ 61 Unrecognized compensation cost for non-vested shares, net of estimated forfeitures $ 114 $ 96 Weighted average period over which unrecognized compensation will be recognized (years) 0.3

Net Income Per Share (Tables)

Net Income Per Share (Tables)	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Net Income Per Share	The following table sets forth the computation of basic and diluted net income per share: Three months ended March 31, March 31, Numerator: Net income and comprehensive income $ 13,099 $ 4,837 Income allocated to participating securities (64 ) (33 ) Numerator for basic and diluted income per share - net income $ 13,035 $ 4,804 Denominator (in thousands): Denominator for basic income per share - weighted-average shares 30,420 30,575 Effect of dilutive stock options (in thousands) 165 365 Effect of dilutive performance shares (in thousands) 40 41 Denominator for diluted income per share - adjusted weighted-average shares 30,625 30,981 Basic net income per share $ 0.43 $ 0.16 Diluted net income per share $ 0.43 $ 0.16 The number of instruments that could potentially dilute net income per basic share in the future, but that were not included in the computation of net income per diluted share because to do so would have been anti-dilutive for the periods presented, are as follows: March 31, March 31, Anti-dilutive stock options (in thousands) 275 151 Anti-dilutive performance shares (in thousands) 44 15 Anti-dilutive non-vested shares and deferred stock units (in thousands) 73 — Total anti-dilutive shares (in thousands) 392 166

Financial Instruments (Tables)

Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2016
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Financial Instruments	Using interest rate quotes and discounted cash flows, the Company estimated the fair value of its outstanding capital lease obligations as follows: March 31, 2016 Carrying Value Fair Value Capital leases $ 1,367 $ 1,324

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Summary of segment information	The following tables summarize segment information about net income and assets used by the chief operating decision maker of the Company in making decisions regarding allocation of assets and resources as of and for the three months ended March 31, 2016 and 2015. Three months ended March 31, 2016 Expedited LTL Truckload Expedited Pool Distribution Intermodal Eliminations & other Consolidated External revenues $ 133,522 $ 38,417 $ 33,057 $ 24,553 $ — $ 229,549 Intersegment revenues 855 205 135 71 (1,266 ) — Depreciation and amortization 5,548 1,740 1,485 895 — 9,668 Share-based compensation expense 1,574 155 150 73 — 1,952 Interest expense 509 — — 36 8 553 Income from operations 17,179 1,470 114 2,372 270 21,405 Total assets 635,283 90,678 47,877 120,251 (205,036 ) 689,053 Capital expenditures 2,078 13 545 52 — 2,688 Three months ended March 31, 2015 Expedited LTL Truckload Expedited Pool Distribution Intermodal Eliminations & other Consolidated External revenues $ 121,477 $ 34,266 $ 27,045 $ 22,963 $ 167 $ 205,918 Intersegment revenues 807 217 183 66 (1,273 ) — Depreciation and amortization 4,576 1,373 1,539 969 227 8,684 Share-based compensation expense 1,548 169 32 37 — 1,786 Interest expense 112 — — 23 229 364 Income from operations 14,885 3,211 216 1,989 (12,052 ) 8,249 Total assets 682,247 86,565 44,439 108,309 (206,432 ) 715,128 Capital expenditures 2,694 2,242 190 103 — 5,229

Basis of Presentation (Details)

Basis of Presentation (Details)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Number of principal reporting segments	4	3

Acquisitions and Goodwill (Deta

Acquisitions and Goodwill (Details) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)$ / shares	Mar. 31, 2015USD ($)$ / shares	Jan. 25, 2016USD ($)	Dec. 31, 2015USD ($)	Mar. 09, 2015USD ($)
Segment Reporting Information [Line Items]
Proceeds from term loan	$ 0	$ 125,000
Long-term Debt, Term	2 year
Business Acquisition, Pro Forma Revenue	$ 229,549	240,145
Business Acquisition, Pro Forma Income from Operations	21,405	5,942
Business Acquisition, Pro Forma Net Income (Loss)	$ 13,099	$ 2,358
Business Acquisition, Pro Forma Earnings Per Share, Basic | $ / shares	$ 0.43	$ 0.08
Business Acquisition, Pro Forma Earnings Per Share, Diluted | $ / shares	$ 0.43	$ 0.08
Business Acquisition, Goodwill, Expected Tax Deductible Amount	$ 100,156
Carrying value of goodwill	206,517			$ 205,609
Goodwill, Acquired During Period	$ 908
Towne [Member]
Segment Reporting Information [Line Items]
Business Acquisition, Cash Paid					$ 61,878
Escrow Deposit					16,500
Number of service points	61
Number of independent contractor tractors	525
Severance Costs		$ 2,109
Business Combination, Acquisition Related Costs		5,101
Restructuring Reserve	$ 5,311	$ 4,664
Restructuring Reserve, Period Increase (Decrease)	1,420
Carrying value of goodwill					61,197
Business Combination, Acquired Receivables, Gross Contractual Amount					24,068
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets					2,916
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment					2,095
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets					614
Business Combination, Recognized Identifiable Assets Acquired and Total Liabilities Assumed, Total Tangible Assets					29,693
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles					127,197
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets					156,890
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities					28,920
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other					3,886
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt					59,544
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities					2,662
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities					95,012
Business Combination, Recognized Identifiable Assets Acquired and Total Liabilities Assumed, Net Total Assets					61,878
Ace [Member]
Segment Reporting Information [Line Items]
Business Acquisition, Cash Paid			$ 1,700
Carrying value of goodwill			908
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles			1,700
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets			1,700
Business Combination, Recognized Identifiable Assets Acquired and Total Liabilities Assumed, Net Total Assets			1,700
Expedited LTL [Member]
Segment Reporting Information [Line Items]
Carrying value of goodwill	99,123			99,123
Truckload Expedited [Member]
Segment Reporting Information [Line Items]
Carrying value of goodwill	45,164			45,164
Pool Distribution [Member]
Segment Reporting Information [Line Items]
Goodwill, Impaired, Accumulated Impairment Loss	(6,953)			(6,953)
Carrying value of goodwill	12,359			12,359
Intermodal [Member]
Segment Reporting Information [Line Items]
Carrying value of goodwill	56,824			$ 55,916
Goodwill, Acquired During Period	$ 908
Noncompete Agreements [Member] | Ace [Member]
Segment Reporting Information [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	5 years
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill			20
Customer Relationships [Member] | Towne [Member]
Segment Reporting Information [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	20 years
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill					66,000
Customer Relationships [Member] | Ace [Member]
Segment Reporting Information [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	15 years
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill			$ 772
Towne possible net working capital shortfall [Member] | Towne [Member]
Segment Reporting Information [Line Items]
Escrow Deposit					2,000
Towne potential claims [Member] | Towne [Member]
Segment Reporting Information [Line Items]
Escrow Deposit					$ 14,500

Share-Based Payments - Stock Op

Share-Based Payments - Stock Option Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 1,952	$ 1,786
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	348	336
Tax benefit related to share-based expense	129	129
Unrecognized share-based compensation, net of estimated forfeitures	$ 2,789	$ 2,609
Weighted average period over which unrecognized compensation will be recognized (years)	2 years 2 months 11 days
Employee activity - stock options [Abstract]
Stock option grants expire (in years)	7 years
Grants, vesting period (in years)	3 years
Expected dividend yield (in hundredths)	1.00%	1.00%
Expected stock price volatility	29.00%	33.90%
Weighted Average Risk Free Interest Rate	1.30%	1.60%
Expected life of options (in years)	6 years 11 days	6 years 1 month 11 days
Weighted-average fair value of options (dollars per share)	$ 12	$ 16
Outstanding, beginning of period (in shares)	786
Granted (in shares)	122
Exercised (in shares)	(38)
Forfeited (in shares)	(2)
Outstanding, end of period (in shares)	868
Exercisable, end of period (in shares)	633
Outstanding, beginning of period (in dollars per share)	$ 32
Grants in Period (in dollars per share)	44
Exercises in Period (in dollars per share)	23
Forfeited in period (in dollars per share)	38
Outstanding, end of period (in dollars per share)	34
Exercisable, end of period (in dollars per share)	$ 30
Aggregate Intrinsic Value Outstanding, end of period	$ 6,709
Aggregate Intrinsic Value Exercisable, end of period	$ 7,481
Weighted-average remaining contractual term Outstanding, end of period (in years)	3 years 3 months 11 days
Weighted-average remaining contractual term Exercisable, end of period (in years)	2 years 3 months 11 days

Share-Based Payments - Employee

Share-Based Payments - Employee Activity Non-vested Shares (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 1,952	$ 1,786
Employee Non-vested Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants, vesting period (in years)	3 years
Outstanding and non-vested, beginning of period (in shares)	191
Stock Issued During Period, Shares, Restricted Stock Award, Gross	125
Shares Vested in Period	(92)
Shares Forfeited in Period	(2)
Outstanding and non-vested, end of period (in shares)	222
Outstanding and non-vested, weighted-average grant date fair value, beginning of period	$ 46
Grants in Period, Weighted Average Grant Date Fair Value	44
Vested in Period, Weighed-average grant date fair value	44
Forfeited in period (in dollars per share)	47
Outstanding and non-vested, weighted-average grant date fair value, end of period	$ 46
Outstanding and non-vested, aggregate grant date fair value	$ 10,092
Share-based compensation expense	1,082	988
Tax benefit related to share-based expense	403	380
Unrecognized share-based compensation, net of estimated forfeitures	$ 9,363	$ 8,398
Weighted average period over which unrecognized compensation will be recognized (years)	2 years 3 months 11 days

Share-Based Payments - Employ26

Share-Based Payments - Employee Activity Performance Shares (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 1,952	$ 1,786
Key Employee Performance Share Based Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period of Share Price Performance Comparison to Peer Group	3 years
Minimum percentage of peer group by which Company share price must outperform before incremental performance shares are issued	30.00%
Percentage of Peer Group By Which Company Share Price Must Outperform Before Maximum Incremental Shares Are Issued	90.00%
Expected Stock Price Volatility Rate	22.30%	23.50%
Weighted Average Risk Free Interest Rate	0.80%	1.00%
Outstanding and non-vested, beginning of period (in shares)	77
Grants in Period	29
Additional Shares Awarded Based on Performance, Shares Issued in Period	7
Shares Vested in Period	(33)
Outstanding and non-vested, end of period (in shares)	80
Outstanding and non-vested, weighted-average grant date fair value, beginning of period	$ 52
Grants in Period, Weighted Average Grant Date Fair Value	49
Stock Issued During Period, Weighted Average Grant Date Fair Value	40
Vested in Period, Weighed-average grant date fair value	40
Outstanding and non-vested, weighted-average grant date fair value, end of period	$ 55
Outstanding and non-vested, aggregate grant date fair value	$ 4,373
Share-based compensation expense	351	$ 302
Tax benefit related to share-based expense	131	116
Unrecognized share-based compensation, net of estimated forfeitures	$ 2,805	$ 2,733
Weighted average period over which unrecognized compensation will be recognized (years)	2 years 2 months 11 days

Share-Based Payments - Non-empl

Share-Based Payments - Non-employee Director Non-vested Shares (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-Employee Director Shares, Vesting Period (in years)	1 year
Share-based compensation expense	$ 1,952	$ 1,786
Nonemployee Director Nonvested Shares Granted Member
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding and non-vested, beginning of period (in shares)	15
Grants in Period	0
Shares Vested in Period	0
Outstanding and non-vested, end of period (in shares)	15
Outstanding and non-vested, weighted-average grant date fair value, beginning of period	$ 51
Grants in Period, Weighted Average Grant Date Fair Value	0
Vested in Period, Weighed-average grant date fair value	0
Outstanding and non-vested, weighted-average grant date fair value, end of period	$ 51
Outstanding and non-vested, aggregate grant date fair value	$ 740
Share-based compensation expense	171	160
Tax benefit related to share-based expense	64	61
Unrecognized share-based compensation, net of estimated forfeitures	$ 114	$ 96
Weighted average period over which unrecognized compensation will be recognized (years)	3 months 11 days

Senior Credit Facility (Details

Senior Credit Facility (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Feb. 04, 2015
Debt Instrument [Line Items]
Line of Credit Facility Term, In Years			5
Senior credit facility amount			$ 275,000
Interest rate spread above LIBOR as of reporting period (in hundredths)	1.00%
Base reference rate of credit facilities	LIBOR
Letters of Credit Outstanding, Amount	$ 11,048
Available borrowing capacity	138,952
Proceeds from term loan	$ 0	$ 125,000
Letter of Credit [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Capacity Available for Specific Purpose Other than for Trade Purchases			25,000
Swing line loan [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Capacity Available for Specific Purpose Other than for Trade Purchases			15,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Senior credit facility amount			$ 150,000
Debt Instrument, Basis Spread on Variable Rate, Minimum			0.30%
Debt Instrument, Basis Spread on Variable Rate, Maximum			0.80%
Federal funds [Member]
Debt Instrument [Line Items]
Interest rate spread above LIBOR as of reporting period (in hundredths)	0.50%
Term loan [Member]
Debt Instrument [Line Items]
Senior credit facility amount			$ 125,000
Debt Instrument, Basis Spread on Variable Rate, Minimum			0.10%
Debt Instrument, Basis Spread on Variable Rate, Maximum			0.60%
Proceeds from term loan		$ 125,000
Term Loan, Quarterly Payment Percentage	11.10%
Interest Rate on Term Loan	1.80%
Other Long-term Debt	$ 69,450

Net Income Per Share (Details)

Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Earnings Per Share, Basic, Two Class Method [Abstract]
Net income and comprehensive income	$ 13,099	$ 4,837
Income allocated to participating securities	(64)	(33)
Numerator for basic and diluted income per share - net income	$ 13,035	$ 4,804
Denominator for basic income per share - weighted-average shares	30,420	30,575
Denominator for diluted income per share - adjusted weighted-average shares	30,625	30,981
Basic income per share (dollars per share)	$ 0.43	$ 0.16
Diluted income per share (dollars per share)	$ 0.43	$ 0.16
Total number anti-dilutive options, non-vested shares, and performance shares excluded from income per diluted share computation	392	166
Stock Option [Member]
Earnings Per Share, Basic, Two Class Method [Abstract]
Effect of dilutive stock options and non-vested shares	165	365
Total number anti-dilutive options, non-vested shares, and performance shares excluded from income per diluted share computation	275	151
Key Employee Performance Share Based Plan [Member]
Earnings Per Share, Basic, Two Class Method [Abstract]
Effect of dilutive stock options and non-vested shares	40	41
Total number anti-dilutive options, non-vested shares, and performance shares excluded from income per diluted share computation	44	15
Nonvested Shares [Member]
Earnings Per Share, Basic, Two Class Method [Abstract]
Total number anti-dilutive options, non-vested shares, and performance shares excluded from income per diluted share computation	73

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Effective statutory federal income tax rate	35.00%	35.00%
Effective Income Tax Rate, Continuing Operations	37.10%	38.30%

Financial Instruments - Fair Va

Financial Instruments - Fair Value (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Base reference rate of credit facilities	LIBOR
Interest rate spread above LIBOR as of reporting period (in hundredths)	1.00%
Other debt and capital leases	$ 1,324
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other debt and capital leases	$ 1,367

Shareholders' Equity (Details)

Shareholders' Equity (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Feb. 07, 2014
Shareholders' Equity [Line Items]
Dividends per share (in dollars per share)	$ 0.12				$ 0.12
Stock Repurchase Program, Number of Shares Authorized to be Repurchased						2,000,000
Stock Repurchase Program Number Of Shares Repurchased	232,944
Stock Repurchased and Retired During Period, In Total Dollars	$ 9,995,000				$ 0
Stock repurchased, common stock acquired, average cost per share	$ 42.91
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased	462,673
Common Stock [Member]
Shareholders' Equity [Line Items]
Dividends per share (in dollars per share)	$ 0.12	$ 0.12	$ 0.12	$ 0.12	$ 0.12

Segment Reporting (Details)

Segment Reporting (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)
Segment Reporting Information [Line Items]
External revenues	$ 229,549	$ 205,918
Depreciation and amortization	9,668	8,684
Allocated Share Based Compensation Expense	1,952	1,786
Interest expense	553	364
Income tax expense (benefit)	7,724	3,000
Net income (loss)	13,099	4,837
Operating Income (Loss)	21,405	8,249
Total assets	689,053	715,128	$ 699,932
Capital expenditures	$ 2,688	$ 5,229
Number of reportable segments	4	3
Expedited LTL [Member]
Segment Reporting Information [Line Items]
External revenues	$ 133,522	$ 121,477
Intersegment revenues	855	807
Depreciation and amortization	5,548	4,576
Allocated Share Based Compensation Expense	1,574	1,548
Interest expense	509	112
Net income (loss)	17,179	14,885
Total assets	635,283	682,247
Capital expenditures	2,078	2,694
Truckload Expedited [Member]
Segment Reporting Information [Line Items]
External revenues	38,417	34,266
Intersegment revenues	205	217
Depreciation and amortization	1,740	1,373
Allocated Share Based Compensation Expense	155	169
Net income (loss)	1,470	3,211
Total assets	90,678	86,565
Capital expenditures	13	2,242
Pool Distribution [Member]
Segment Reporting Information [Line Items]
External revenues	33,057	27,045
Intersegment revenues	135	183
Depreciation and amortization	1,485	1,539
Allocated Share Based Compensation Expense	150	32
Net income (loss)	114	216
Total assets	47,877	44,439
Capital expenditures	545	190
Intermodal [Member]
Segment Reporting Information [Line Items]
External revenues	24,553	22,963
Intersegment revenues	71	66
Depreciation and amortization	895	969
Allocated Share Based Compensation Expense	73	37
Interest expense	36	23
Net income (loss)	2,372	1,989
Total assets	120,251	108,309
Capital expenditures	52	103
Elimination [Member]
Segment Reporting Information [Line Items]
External revenues		167
Intersegment revenues	(1,266)	(1,273)
Depreciation and amortization		227
Interest expense	8	229
Net income (loss)	270	(12,052)
Total assets	$ (205,036)	$ (206,432)