Forward Air (FWRD) 10-Q 25 Oct 18 2018 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2018	Oct. 22, 2018
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		29,202,290
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2018

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Current assets:
Cash	$ 28,911	$ 3,893
Accounts receivable, less allowance of $2,176 in 2018 and $3,006 in 2017	148,464	147,948
Other current assets	23,692	15,807
Total current assets	201,067	167,648
Property and equipment	409,465	399,235
Less accumulated depreciation and amortization	199,166	193,123
Total property and equipment, net	210,299	206,112
Goodwill and other acquired intangibles:
Goodwill	193,625	191,671
Other acquired intangibles, net of accumulated amortization of $78,250 in 2018 and $71,527 in 2017	106,227	111,247
Total goodwill and other acquired intangibles, net	299,852	302,918
Other assets	31,923	15,944
Total assets	743,141	692,622
Current liabilities:
Accounts payable	35,110	30,723
Accrued expenses	40,073	35,069
Current portion of debt and capital lease obligations	336	359
Total current liabilities	75,519	66,151
Long-term debt and capital lease obligations, less current portion	40,383	40,588
Other long-term liabilities	43,073	24,104
Deferred income taxes	35,756	29,080
Shareholders' equity:
Preferred stock	0	0
Common stock, $0.01 par value: Authorized shares - 50,000,000, Issued and outstanding shares - 29,869,008 in 2018 and 29,454,062 in 2017	288	295
Additional paid-in capital	206,790	195,346
Retained earnings	341,332	337,058
Total shareholders' equity	548,410	532,699
Total liabilities and shareholders' equity	$ 743,141	$ 692,622

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) Parenthetical - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Current assets:
Accounts receivable, allowance	$ 2,176	$ 3,006
Other acquired intangibles, accumulated amortization	$ 78,250	$ 71,527
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)	29,869,008	29,454,062
Common stock, outstanding shares (in shares)	29,869,008	29,454,062

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Operating revenue	$ 331,375	$ 298,289	$ 964,325	$ 844,209
Operating expenses:
Purchased transportation	155,451	140,330	450,833	389,127
Salaries, wages and employee benefits	76,028	65,334	217,682	192,279
Operating leases	18,671	16,809	54,640	47,205
Depreciation and amortization	10,295	10,326	31,346	30,578
Insurance and claims	9,203	7,844	26,442	21,379
Fuel expense	5,634	4,096	16,786	11,448
Other operating expenses	26,214	26,374	79,612	71,279
Total operating expenses	301,496	271,113	877,341	763,295
Income from operations	29,879	27,176	86,984	80,914
Other expense:
Interest expense	(472)	(288)	(1,327)	(806)
Other, net	(1)	(3)	(2)	(11)
Total other expense	(473)	(291)	(1,329)	(817)
Income before income taxes	29,406	26,885	85,655	80,097
Income tax expense	7,077	8,557	21,289	27,522
Net income and comprehensive income	$ 22,329	$ 18,328	$ 64,366	$ 52,575
Net income per share:
Basic (in dollars per share)	$ 0.76	$ 0.61	$ 2.18	$ 1.74
Diluted (in dollars per share)	0.76	0.61	2.18	1.73
Common Stock [Member]
Dividends per share:
Dividends per share (in dollars per share)	$ 0.15	$ 0.15	$ 0.45	$ 0.45

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Operating activities:
Net income	$ 64,366	$ 52,575
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	31,346	30,578
Change in fair value of earn-out liability	(455)	0
Share-based compensation	7,525	5,965
(Gain) loss on disposal of property and equipment	(14)	701
Provision for (recovery) loss on receivables	(52)	1,788
Provision for revenue adjustments	2,921	2,131
Deferred income tax	6,676	523
Changes in operating assets and liabilities
Accounts receivable	(3,386)	(22,894)
Prepaid expenses and other current assets	(4,880)	(1,411)
Income taxes	(3,193)	(424)
Accounts payable and accrued expenses	12,991	8,179
Net cash provided by operating activities	113,845	77,711
Investing activities:
Proceeds from disposal of property and equipment	5,989	1,497
Purchases of property and equipment	(34,344)	(13,610)
Acquisition of business, net of cash acquired	3,737	22,500
Other	(356)	(73)
Net cash used in investing activities	(32,448)	(34,686)
Financing activities:
Payments of debt and capital lease obligations	(228)	(28,215)
Proceeds from senior credit facility	0	55,000
Payments on line of credit	0	(14,500)
Proceeds from exercise of stock options	3,682	5,642
Payments of cash dividends	(13,213)	(13,584)
Repurchase of common stock (repurchase program)	(44,985)	(41,983)
Proceeds from common stock issued under employee stock purchase plan	237	226
Cash settlement of share-based awards for minimum tax withholdings	(1,872)	(1,699)
Net cash used in financing activities	(56,379)	(39,113)
Net increase in cash	25,018	3,912
Cash at beginning of period	3,893	8,511
Cash at end of period	$ 28,911	$ 12,423

Description of Business and Bas

Description of Business and Basis of Presentation	9 Months Ended
	Sep. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Basis of Presentation	Description of Business and Basis of Presentation Forward Air Corporation is a leading asset-light freight and logistics company. Forward Air Corporation's ("the Company", "We", "Our") services can be classified into four reportable segments: Expedited LTL, Truckload Premium Services ("TLS"), Intermodal and Pool Distribution ("Pool") (See Note 11). Through the Expedited LTL segment, we operate a comprehensive national network to provide expedited regional, inter-regional and national less-than-truckload ("LTL") services. Expedited LTL offers customers local pick-up and delivery and other services including shipment consolidation and deconsolidation, warehousing, customs brokerage and other handling. Through our TLS segment, we provide expedited truckload brokerage, dedicated fleet services, as well as high security and temperature-controlled logistics services in the United States and Canada. Our Intermodal segment provides first- and last-mile high value intermodal container drayage services both to and from seaports and railheads. Intermodal also offers dedicated contract and CFS warehouse and handling services. Today, Intermodal operates primarily in the Midwest and Southeast, with a smaller operational presence in the Southwest United States. In our Pool Distribution segment, we provide high-frequency handling and distribution of time sensitive product to numerous destinations within a specific geographic region. We offer this service throughout the Mid-Atlantic, Southeast, Midwest and Southwest United States. 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 (as described in our 2017 Form 10-K) when measured on a quarterly basis; therefore operating results for the nine months ended September 30, 2018 are not necessarily indicative of the results that may be expected for the year ending December 31, 2018 . 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, 2017 . 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. Certain reclassifications have been made to the prior period financial information to conform to the current year presentation.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2018
Recent Accounting Pronouncements [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements In January 2017, the FASB issued ASU No. 2017-04, Intangibles - Goodwill and Other (Topic 350): "Simplifying the Accounting for Goodwill Impairment." Under the new standard, a goodwill impairment loss will be measured at the amount by which a reporting unit's carrying amount exceeds its fair value, not to exceed the carrying amount of goodwill, thus no longer requiring the two-step method. The guidance requires prospective adoption and will be effective for annual or interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption of this guidance is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. We have adopted this guidance as of January 1, 2018 and do not expect any impact to the consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases, which will require lessees to recognize a right-of-use asset with a corresponding lease liability on their balance sheet for most leases classified as operating leases under previous guidance. Lessors will be required to recognize a net lease investment for most leases. Additional qualitative and quantitative disclosures will also be required. 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 plan to recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption as allowed per the guidance. Changes to processes and internal controls to meet the standard’s reporting and disclosure requirements have been identified and are being implemented. We continue to evaluate the expected impact of this guidance, but do not anticipate any material changes to operating results or liquidity as a result of the right-of-use assets and corresponding lease liabilities that will be recorded. In May 2014, the FASB issued guidance on revenue from contracts with customers that superseded 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 full retrospective or modified retrospective adoption approach with a cumulative effect adjustment recorded in either scenario as necessary upon transition. As permitted by the guidance, we implemented the use of full retrospective presentation, which required the Company to restate each prior reporting period presented. While evaluating principal versus agent relationships under the new standard, we determined that we will transition the fuel surcharge revenue stream from an agent to principal relationship. This caused this revenue stream and associated costs to be recognized on a gross basis that have historically been recognized on a net basis. In addition, based on a review of our customer shipping arrangements, we have concluded that revenue recognition for our performance obligations should be over time. This is because the customer will simultaneously receive and consume the benefits of these services as the entity performs over the related service period. A performance obligation is performed over time if an entity determines that another entity would not need to substantially reperform the work completed to date if another entity were to fulfill the remaining performance obligation to the applicable customer. Applying this guidance to our shipping performance obligations, if we were to move a customer’s freight partially to its destination but were unable to complete the remaining obligation, a replacement vendor would only have to complete the transit as opposed to initiating at shipment origin. Therefore, we believe our customers simultaneously receive and consume the benefits we provide and as a result we will recognize the revenue for each shipment over the course of time based on percentage of days in transit. Our revenue from contracts with customers is disclosed within our four reportable segments: Expedited LTL, TLS, Intermodal and Pool. This is consistent with our disclosures in earnings releases and annual reports and with the information regularly reviewed by the chief operating decision maker for evaluating financial performance. The impact of implementing this guidance using the full retrospective approach on the prior period statements of operations are shown in the "As Adjusted" columns of the following tables: Three months ended September 30, 2017 (In thousands, except per share data) As Previously Reported Adjustments As Adjusted Revenue Expedited LTL $ 155,703 $ 9,696 $ 165,399 Truckload Premium Services 45,941 5,520 51,461 Pool Distribution 39,180 1,003 40,183 Intermodal 42,292 1,869 44,161 Eliminations and other operations (2,915 ) — (2,915 ) Consolidated revenue 280,201 18,088 298,289 Operating Expenses 253,303 17,810 271,113 Income from operations 26,898 278 27,176 Income tax expenses 8,453 104 8,557 Net Income 18,155 173 18,328 Diluted earnings per share $ 0.60 $ 0.01 $ 0.61 Nine months ended September 30, 2017 (In thousands, except per share data) As Previously Reported Adjustments As Adjusted Revenue Expedited LTL $ 448,571 $ 26,065 $ 474,636 Truckload Premium Services 132,912 16,087 148,999 Pool Distribution 113,838 2,903 116,741 Intermodal 105,853 4,454 110,307 Eliminations and other operations (6,474 ) — (6,474 ) Consolidated revenue 794,700 49,509 844,209 Operating Expenses 714,804 48,491 763,295 Income from operations 79,896 1,018 80,914 Income tax expenses 27,131 391 27,522 Net Income 51,948 627 52,575 Diluted earnings per share $ 1.71 $ 0.02 $ 1.73

Acquisitions and Goodwill

Acquisitions and Goodwill	9 Months Ended
	Sep. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Acquisitions and Goodwill	Acquisitions and Goodwill Intermodal Acquisitions As part of the Company's strategy to expand its Intermodal operations, in May 2017, we acquired certain assets of Atlantic Trucking Company, Inc., Heavy Duty Equipment Leasing, LLC, Atlantic Logistics, LLC and Transportation Holdings, Inc. (together referred to as “Atlantic” in this note) for $22,500 and an earnout of $135 to be paid in October 2018. The acquisition was funded by a combination of cash on hand and funds from our revolving credit facility. Atlantic was a privately held provider of intermodal, drayage and related services headquartered in Charleston, South Carolina. It also has terminal operations in Atlanta, Charlotte, Houston, Jacksonville, Memphis, Nashville, Norfolk and Savannah. These locations allowed Intermodal to significantly expand its footprint in the southeastern region. In October 2017, we also acquired certain assets of Kansas City Logistics, LLC ("KCL") for $640 and an earnout of $100 paid in the second quarter of 2018. KCL provided Intermodal with an expanded footprint in the Kansas and Missouri markets. In July 2018, we also acquired certain assets of Multi-Modal Transport Inc. ("MMT") for $3,737 . The MMT acquisition provides Intermodal with an expanded footprint in the Minnesota, North Dakota, South Dakota, Iowa and Wisconsin markets, along with access to several strategic customer relationships. The assets, liabilities, and operating results of these collective acquisitions have been included in the Company's consolidated financial statements from their dates of acquisition and have been included in the Intermodal reportable segment. Allocations of Purchase Prices The following table presents the allocation of the Atlantic, KCL, and MMT purchase prices to the assets acquired and liabilities assumed based on their estimated fair values and resulting residual goodwill (in thousands): Atlantic KCL MMT May 7, 2017 October 22, 2017 July 25, 2018 Tangible assets: Property and equipment $ 1,821 $ 223 $ 81 Total tangible assets 1,821 223 81 Intangible assets: Non-compete agreements 1,150 6 43 Customer relationships 13,400 234 1,659 Goodwill 6,719 277 1,954 Total intangible assets 21,269 517 3,656 Total assets acquired 23,090 740 3,737 Liabilities assumed: Current liabilities 590 100 — Total liabilities assumed 590 100 — Net assets acquired $ 22,500 $ 640 $ 3,737 The acquired definite-lived intangible assets have the following useful lives: Useful Lives Atlantic KCL MMT Customer relationships 15 years 15 years 15 years Non-compete agreements 5 years 2 years 5 years The fair value of the non-compete agreements and customer relationships assets were estimated using an income approach. The Company's inputs into fair value estimates 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”). 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. Goodwill The Company conducted its annual impairment assessments and test of goodwill for each reporting unit as of June 30, 2018 and no impairment charges were required at that time. Goodwill impairment exists when the estimated 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. During the three months ended September 30, 2018 no indicators of impairment were identified. The following is a summary of the changes to goodwill for the nine months ended September 30, 2018 . Approximately $114,481 of goodwill is deductible for tax purposes. Beginning balance, December 31, 2017 MMT Acquisition Ending balance, September 30, 2018 Expedited LTL Goodwill $ 97,593 $ — $ 97,593 Accumulated Impairment — — — TLS Goodwill 45,164 — 45,164 Accumulated Impairment (25,686 ) — (25,686 ) Pool Distribution Goodwill 12,359 — 12,359 Accumulated Impairment (6,953 ) — (6,953 ) Intermodal Goodwill 69,194 1,954 71,148 Accumulated Impairment — — — Total $ 191,671 $ 1,954 $ 193,625

Share-Based Payments

Share-Based Payments	9 Months Ended
	Sep. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-Based Payments	Share-Based Payments The Company’s general practice has been to make a single annual grant of share-based compensation in the first quarter 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 ratably over the requisite service period, or vesting period. 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 nine months ended September 30, 2018 and 2017 were as follows: Nine months ended September 30, September 30, Expected dividend yield 1.1 % 1.3 % Expected stock price volatility 24.4 % 28.7 % Weighted average risk-free interest rate 2.7 % 2.0 % Expected life of options (years) 6.1 6.0 Weighted average grant date fair value $ 16 $ 13 The following tables summarize the Company’s employee stock option activity and related information: Nine months ended September 30, 2018 Weighted- Weighted- Aggregate Average Average Intrinsic Remaining Options Exercise Value Contractual (000) Price (000) Term Outstanding at December 31, 2017 440 $ 45 Granted 193 62 Exercised (89 ) 41 Forfeited — — Outstanding at September 30, 2018 544 $ 51 $ 6,689 4.9 Exercisable at September 30, 2018 228 $ 45 $ 4,294 3.4 Nine months ended September 30, September 30, Share-based compensation for options $ 1,085 $ 993 Tax benefit for option compensation $ 271 $ 354 Unrecognized compensation cost for options, net of estimated forfeitures $ 3,621 $ 1,909 Weighted average period over which unrecognized compensation will be recognized (years) 2.3 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: Nine months ended September 30, 2018 Weighted- Aggregate Non-vested Average Grant Date Shares Grant Date Fair Value (000) Fair Value (000) Outstanding and non-vested at December 31, 2017 227 $ 47 Granted 202 60 Vested (108 ) 56 Forfeited (3 ) 52 Outstanding and non-vested at September 30, 2018 318 $ 55 $ 17,467 Nine months ended September 30, September 30, Share-based compensation for non-vested shares $ 4,902 $ 3,762 Tax benefit for non-vested share compensation $ 1,225 $ 1,343 Unrecognized compensation cost for non-vested shares, net of estimated forfeitures $ 13,146 $ 7,410 Weighted average period over which unrecognized compensation will be recognized (years) 2.0 Employee Activity - Performance Shares The Company annually grants performance shares to key employees. Under the terms of the performance share agreements, following the end of a three-year performance period, the Company will issue to the employees a calculated number of common stock shares based on the three year performance of the Company’s total shareholder return as compared to the total shareholder return of a selected peer group. No shares may be issued if the Company's total shareholder return outperforms 25% or less of the peer group, but the number of shares issued may be doubled if the Company's total shareholder return 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: Nine months ended September 30, September 30, Expected stock price volatility 24.3 % 24.7 % Weighted average risk-free interest rate 2.2 % 1.4 % The following tables summarize the Company’s employee performance share activity, assuming median share awards, and related information: Nine months ended September 30, 2018 Weighted- Aggregate Performance Average Grant Date Shares Grant Date Fair Value (000) Fair Value (000) Outstanding and non-vested at December 31, 2017 69 $ 58 Granted 18 72 Additional shares awarded based on performance — — Vested — — Forfeited (22 ) 67 Outstanding and non-vested at September 30, 2018 65 $ 58 $ 3,795 Nine months ended September 30, September 30, Share-based compensation for performance shares $ 953 $ 689 Tax benefit for performance share compensation $ 238 $ 246 Unrecognized compensation cost for performance shares, net of estimated forfeitures $ 1,725 $ 1,740 Weighted average period over which unrecognized compensation will be recognized (years) 1.9 Employee Activity - Employee Stock Purchase Plan Under the 2005 Employee Stock Purchase Plan (the “ESPP”), which has been approved by shareholders, the Company is authorized to issue up to a remaining 367,309 shares of common stock to employees of the Company. These shares may be issued at a price equal to 90% of the lesser of the market value on the first day or the last day of each six-month purchase period. Common stock purchases are paid for through periodic payroll deductions and/or up to two large lump sum contributions. For the nine months ended September 30, 2018, participants under the plan purchased 4,550 shares at an average price of $51.98 per share. For the nine months ended September 30, 2017, participants under the plan purchased 5,188 shares at an average price of $43.59 per share. The weighted-average fair value of each purchase right under the ESPP granted for the nine months ended September 30, 2018, which is equal to the discount from the market value of the common stock at the end of each six month purchase period, was $7.10 per share. The weighted-average fair value of each purchase right under the ESPP granted for the nine months ended September 30, 2017, which is equal to the discount from the market value of the common stock at the end of each six month purchase period, was $9.69 per share. Share-based compensation expense of $32 and $51 was recognized during the nine months ended September 30, 2018 and 2017, respectively. 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: Nine months ended September 30, 2018 Weighted- Aggregate Non-vested Average Grant Date Shares Grant Date Fair Value (000) Fair Value (000) Outstanding and non-vested at December 31, 2017 11 $ 52 Granted 15 58 Vested (12 ) 52 Forfeited — — Outstanding and non-vested at September 30, 2018 14 $ 58 $ 805 Nine months ended September 30, September 30, Share-based compensation for non-vested shares $ 553 $ 470 Tax benefit for non-vested share compensation $ 138 $ 167 Unrecognized compensation cost for non-vested shares, net of estimated forfeitures $ 501 $ 430 Weighted average period over which unrecognized compensation will be recognized (years) 0.6

Senior Credit Facility

Senior Credit Facility	9 Months Ended
	Sep. 30, 2018
Senior Credit Facility [Abstract]
Senior Credit Facility	Senior Credit Facility On September 29, 2017, the Company entered into a five -year senior unsecured revolving credit facility (the “Facility”) with a maximum aggregate principal amount of $150,000 , with a sublimit of $30,000 for letters of credit and a sublimit of $30,000 for swing line loans. The Facility may be increased by up to $100,000 to a maximum aggregate principal amount of $250,000 pursuant to the terms of the credit agreement, subject to the lenders’ agreement to increase their commitments or the addition of new lenders extending such commitments. Such increases to the Facility may be in the form of additional revolving credit loans, term loans or a combination thereof, and are contingent upon there being no events of default under the Facility and satisfaction of other conditions precedent and are subject to the other limitations set forth in the credit agreement. The Facility is scheduled to mature in September 2022 and may be used to refinance existing indebtedness of the Company and for working capital, capital expenditures and other general corporate purposes. The Facility refinanced the Company’s existing obligations for its unsecured credit facility under the credit agreement dated as of February 4, 2015, as amended, which was terminated as of the date of the new Facility. Unless the Company elects otherwise under the credit agreement, interest on borrowings under the Facility is based on the highest of (a) the federal funds rate (not less than 0%) 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 0.3% to 0.8% with respect to the Facility depending on the Company’s ratio of consolidated funded indebtedness to earnings before interest, taxes, depreciation and amortization, as set forth in the credit agreement. Payments of interest for each loan that is based on the LIBOR Rate are due in arrears on the last day of the interest period applicable to such loan (with interest periods of one, two or three months being available, at the Company’s option). Payments of interest on loans that are not based on the LIBOR Rate are due on the last day of each quarter ended March 31, June 30, September 30 and December 31 of each year. All unpaid amounts of principal and interest are due at maturity. As of September 30, 2018 , we had $40,500 in borrowings outstanding under the revolving credit facility, $11,123 utilized for outstanding letters of credit and $98,377 of available borrowing capacity under the revolving credit facility. The interest rate on the outstanding borrowing under the revolving credit facility was 3.6% at September 30, 2018. The Facility contains customary events of default including, among other things, payment defaults, breach of covenants, cross acceleration to material indebtedness, bankruptcy-related defaults, material judgment defaults, and the occurrence of certain change of control events. The occurrence of an event of default may result in, among other things, the termination of the Facilities, acceleration of repayment obligations and the exercise of remedies by the lenders with respect to the Company and its subsidiaries that are party to the Facility. The Facility also contains financial covenants and other covenants that, among other things, restrict the ability of the Company and its subsidiaries, without the approval of the required lenders, to engage in certain mergers, consolidations, asset sales, dividends and stock repurchases, investments, and other transactions or to incur liens or indebtedness in excess of agreed thresholds, as set forth in the credit agreement. As of September 30, 2018, the Company was in compliance with the aforementioned covenants.

Net Income Per Share

Net Income Per Share	9 Months Ended
	Sep. 30, 2018
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 Nine months ended September 30, September 30, September 30, September 30, (As Adjusted) (As Adjusted) Numerator: Net income and comprehensive income $ 22,329 $ 18,328 $ 64,366 $ 52,575 Income allocated to participating securities (239 ) (146 ) (596 ) (424 ) Numerator for basic and diluted income per share - net income $ 22,090 $ 18,182 $ 63,770 $ 52,151 Denominator (in thousands): Denominator for basic income per share - weighted-average shares 28,964 29,855 29,189 29,977 Effect of dilutive stock options (in thousands) 95 52 81 62 Effect of dilutive performance shares (in thousands) 36 33 33 30 Denominator for diluted income per share - adjusted weighted-average shares 29,095 29,940 29,303 30,069 Basic net income per share $ 0.76 $ 0.61 $ 2.18 $ 1.74 Diluted net income per share $ 0.76 $ 0.61 $ 2.18 $ 1.73 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: September 30, September 30, Anti-dilutive stock options (in thousands) 100 172 Anti-dilutive performance shares (in thousands) 15 — Anti-dilutive non-vested shares and deferred stock units (in thousands) 3 — Total anti-dilutive shares (in thousands) 118 172

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Tax Reform On December 22, 2017, President Trump signed into law H.R. 1, “An Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018” (this legislation was formerly called the “Tax Cuts and Jobs Act” and is referred to herein as the “U.S. Tax Act”). The U.S. Tax Act provides for significant changes in the U.S. Internal Revenue Code of 1986, as amended. The U.S. Tax Act contains provisions with separate effective dates but is generally effective for taxable years beginning after December 31, 2017. Beginning on January 1, 2018, the U.S. Tax Act lowers the U.S. corporate income tax rate from 35% to 21% on our U.S. earnings from that date and beyond. The ultimate impact of the U.S. Tax Act on our reported results in 2018 may differ from the estimates provided herein, possibly materially, due to, among other things, changes in interpretations and assumptions we have made, guidance that may be issued, and other actions we may take as a result of the U.S. Tax Act different from that presently contemplated. On December 22, 2017, the SEC staff issued SAB 118 that allows us to record provisional amounts during a measurement period not to extend beyond one year of the enactment date. We currently are analyzing the U.S. Tax Act, and in certain areas, have made reasonable estimates of the effects on our consolidated financial statements and tax disclosures, including the changes to our existing deferred tax balances. Tax Rate For the three months ended September 30, 2018 and 2017, the effective income tax rates varied from the statutory federal income tax rate of 21.0% and 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 nine months ended September 30, 2018 was 24.9% compared to a rate of 34.4% for the same period in 2017. The lower effective tax rate for the nine months ended September 30, 2018 is the result of the enactment of the U.S. Tax Act, which lowered the statutory federal income tax rate to 21.0% from 35.0%. The lower rate was partly offset by fuel tax benefits taken in the nine months ended September 30, 2018 that were not deductible for tax purposes and 2017 benefiting from qualified production property deductions.

Financial Instruments

Financial Instruments	9 Months Ended
	Sep. 30, 2018
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Financial Instruments	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. Revolving credit facility: The Company’s revolving credit facility bears variable interest rates plus additional basis points based upon covenants related to total indebtedness to earnings. As the revolving credit facility 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: September 30, 2018 Carrying Value Fair Value Capital leases $ 452 $ 465 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	9 Months Ended
	Sep. 30, 2018
Stockholders' Equity Note [Abstract]
Shareholders' Equity	Shareholders' Equity During each quarter of 2017 and through the third quarter of 2018, our Board of Directors declared a cash dividend of $0.15 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 July 21, 2016, our Board of Directors approved a stock repurchase authorization for up to three million shares of the Company’s common stock. The following table summarizes our share repurchases for the three and nine months ended September 30, 2018 and 2017. Three months ended Nine months ended September 30, 2018 September 30, 2017 September 30, 2018 September 30, 2017 Shares repurchased 267,451 579,769 764,617 826,633 Cost of shares repurchased $ 16,820 $ 29,988 $ 44,985 $ 41,983 Average cost per share $ 62.89 $ 51.72 $ 58.83 $ 50.79 As of September 30, 2018, 1,054,048 shares were available to be purchased under the 2016 Plan.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2018
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. We renewed our liability insurance policies on April 1, 2018 and took on additional risk exposure for vehicle liability claims by increasing our self-insurance retention and deductible levels. See “Item 1A - Risk Factors” for additional details related to the risks of our insurance coverage. 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	9 Months Ended
	Sep. 30, 2018
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 operates a comprehensive national network that provides expedited regional, inter-regional and national LTL services. The TLS segment provides expedited truckload brokerage, dedicated fleet services and high security and temperature-controlled logistics services. The Intermodal segment primarily provides first- and last-mile high value intermodal container drayage services both to and from seaports and railheads. Pool Distribution provides high-frequency handling and distribution of time sensitive product to numerous destinations. 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 of the Forward Air Corporation Annual Report on Form 10-K for the year ended December 31, 2017 . For workers compensation and vehicle claims each segment is charged an insurance premium and is also charged a deductible that corresponds with each segment's individual self retention limit. However, any losses beyond our deductibles and any loss development factors applied to our outstanding claims as a result of actuarial analysis are not passed to the segments, but reported at the corporate level ("Eliminations & other"). Segment data includes intersegment revenues and shared costs. Costs of the corporate headquarters, shared services and shared assets, such as trailers, are allocated to the segments based on usage. The cost basis of shared assets are not allocated. The basis for the majority of shared assets, such as trailers, are included in Expedited LTL. 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 results from operations 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 and nine months ended September 30, 2018 and 2017. Three months ended September 30, 2018 Expedited LTL Truckload Premium Pool Distribution Intermodal Eliminations & other Consolidated External revenues $ 186,544 $ 47,158 $ 47,177 $ 50,496 $ — $ 331,375 Intersegment revenues 1,963 784 103 49 (2,899 ) — Depreciation and amortization 5,598 1,543 1,699 1,455 — 10,295 Share-based compensation expense 1,961 178 114 262 332 2,847 Interest expense — 2 — 10 460 472 Income from operations 23,724 1,673 735 7,321 (3,574 ) 29,879 Total assets 672,186 70,841 60,672 159,428 (219,986 ) 743,141 Capital expenditures 15,253 30 1,179 276 — 16,738 Three months ended September 30, 2017 (As Adjusted) Expedited LTL Truckload Premium Pool Distribution Intermodal Eliminations & other Consolidated External revenues $ 164,702 $ 49,385 $ 40,125 $ 44,077 $ — $ 298,289 Intersegment revenues 697 2,076 58 84 (2,915 ) — Depreciation and amortization 5,438 1,546 1,652 1,690 — 10,326 Share-based compensation expense 1,604 101 90 144 — 1,939 Interest expense 1 — — 12 275 288 Income (loss) from operations 23,189 124 681 3,785 (603 ) 27,176 Total assets 638,704 59,657 53,201 146,836 (222,998 ) 675,400 Capital expenditures 8,372 7 239 330 — 8,948 Nine months ended September 30, 2018 Expedited LTL Truckload Premium Pool Distribution Intermodal Eliminations & other Consolidated External revenues $ 546,066 $ 137,221 $ 132,980 $ 148,058 $ — $ 964,325 Intersegment revenues 5,276 5,761 276 217 (11,530 ) — Depreciation and amortization 16,682 4,863 5,208 4,593 — 31,346 Share-based compensation expense 5,595 524 342 776 288 7,525 Interest expense 1 5 — 47 1,274 1,327 Income (loss) from operations 71,023 3,348 3,695 16,333 (7,415 ) 86,984 Total assets 672,186 70,841 60,672 159,428 (219,986 ) 743,141 Capital expenditures 31,960 70 1,832 482 — 34,344 Nine months ended September 30, 2017 (As Adjusted) Expedited LTL Truckload Premium Pool Distribution Intermodal Eliminations & other Consolidated External revenues $ 472,723 $ 144,753 $ 116,542 $ 110,191 $ — $ 844,209 Intersegment revenues 1,913 4,246 199 116 (6,474 ) — Depreciation and amortization 16,521 4,694 5,067 4,296 — 30,578 Share-based compensation expense 4,980 281 297 407 — 5,965 Interest expense 2 — — 36 768 806 Income (loss) from operations 65,164 3,734 3,672 9,548 (1,204 ) 80,914 Total assets 638,704 59,657 53,201 146,836 (222,998 ) 675,400 Capital expenditures 12,640 15 524 431 — 13,610

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2018
Subsequent Event [Line Items]
Subsequent Events	On October 24, 2018, we announced that our wholly-owned subsidiary, Central States Trucking Co. (“CST”), entered into an agreement to acquire substantially all of the assets of Southwest Freight Distributors (“Southwest”). The closing of the transaction is subject to various customary conditions, including but not limited to, compliance with the covenants and agreements in the definitive agreement in all material respects. The Company will pay approximately $16,250 and acquisition will be funded by a combination of cash on hand. Southwest is a Dallas, Texas based premium drayage provider. We expect the transaction will close within a month, and we anticipate Southwest will contribute $20,000 of revenue and $3,000 of EBITDA on an annualized basis. CST is included in our Intermodal reportable segment.

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements Recent Accounting Pronouncements (Tables)	9 Months Ended
	Sep. 30, 2018
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]	The impact of implementing this guidance using the full retrospective approach on the prior period statements of operations are shown in the "As Adjusted" columns of the following tables: Three months ended September 30, 2017 (In thousands, except per share data) As Previously Reported Adjustments As Adjusted Revenue Expedited LTL $ 155,703 $ 9,696 $ 165,399 Truckload Premium Services 45,941 5,520 51,461 Pool Distribution 39,180 1,003 40,183 Intermodal 42,292 1,869 44,161 Eliminations and other operations (2,915 ) — (2,915 ) Consolidated revenue 280,201 18,088 298,289 Operating Expenses 253,303 17,810 271,113 Income from operations 26,898 278 27,176 Income tax expenses 8,453 104 8,557 Net Income 18,155 173 18,328 Diluted earnings per share $ 0.60 $ 0.01 $ 0.61 Nine months ended September 30, 2017 (In thousands, except per share data) As Previously Reported Adjustments As Adjusted Revenue Expedited LTL $ 448,571 $ 26,065 $ 474,636 Truckload Premium Services 132,912 16,087 148,999 Pool Distribution 113,838 2,903 116,741 Intermodal 105,853 4,454 110,307 Eliminations and other operations (6,474 ) — (6,474 ) Consolidated revenue 794,700 49,509 844,209 Operating Expenses 714,804 48,491 763,295 Income from operations 79,896 1,018 80,914 Income tax expenses 27,131 391 27,522 Net Income 51,948 627 52,575 Diluted earnings per share $ 1.71 $ 0.02 $ 1.73

Acquisitions and Goodwill (Tabl

Acquisitions and Goodwill (Tables)	9 Months Ended
	Sep. 30, 2018
Goodwill [Line Items]
Schedule of Purchase Price Allocation [Table Text Block]	The following table presents the allocation of the Atlantic, KCL, and MMT purchase prices to the assets acquired and liabilities assumed based on their estimated fair values and resulting residual goodwill (in thousands): Atlantic KCL MMT May 7, 2017 October 22, 2017 July 25, 2018 Tangible assets: Property and equipment $ 1,821 $ 223 $ 81 Total tangible assets 1,821 223 81 Intangible assets: Non-compete agreements 1,150 6 43 Customer relationships 13,400 234 1,659 Goodwill 6,719 277 1,954 Total intangible assets 21,269 517 3,656 Total assets acquired 23,090 740 3,737 Liabilities assumed: Current liabilities 590 100 — Total liabilities assumed 590 100 — Net assets acquired $ 22,500 $ 640 $ 3,737
Schedule of Acquired Finite-Lived Intangible Assets by Major Class [Table Text Block]	The acquired definite-lived intangible assets have the following useful lives: Useful Lives Atlantic KCL MMT Customer relationships 15 years 15 years 15 years Non-compete agreements 5 years 2 years 5 years
Schedule of Significant Assumptions Used [Table Text Block]
Schedule of Goodwill [Table Text Block]	The following is a summary of the changes to goodwill for the nine months ended September 30, 2018 . Approximately $114,481 of goodwill is deductible for tax purposes. Beginning balance, December 31, 2017 MMT Acquisition Ending balance, September 30, 2018 Expedited LTL Goodwill $ 97,593 $ — $ 97,593 Accumulated Impairment — — — TLS Goodwill 45,164 — 45,164 Accumulated Impairment (25,686 ) — (25,686 ) Pool Distribution Goodwill 12,359 — 12,359 Accumulated Impairment (6,953 ) — (6,953 ) Intermodal Goodwill 69,194 1,954 71,148 Accumulated Impairment — — — Total $ 191,671 $ 1,954 $ 193,625

Share-Based Payments (Tables)

Share-Based Payments (Tables)	9 Months Ended
	Sep. 30, 2018
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
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 nine months ended September 30, 2018 and 2017 were as follows: Nine months ended September 30, September 30, Expected dividend yield 1.1 % 1.3 % Expected stock price volatility 24.4 % 28.7 % Weighted average risk-free interest rate 2.7 % 2.0 % Expected life of options (years) 6.1 6.0 Weighted average grant date fair value $ 16 $ 13 The following tables summarize the Company’s employee stock option activity and related information: Nine months ended September 30, 2018 Weighted- Weighted- Aggregate Average Average Intrinsic Remaining Options Exercise Value Contractual (000) Price (000) Term Outstanding at December 31, 2017 440 $ 45 Granted 193 62 Exercised (89 ) 41 Forfeited — — Outstanding at September 30, 2018 544 $ 51 $ 6,689 4.9 Exercisable at September 30, 2018 228 $ 45 $ 4,294 3.4 Nine months ended September 30, September 30, Share-based compensation for options $ 1,085 $ 993 Tax benefit for option compensation $ 271 $ 354 Unrecognized compensation cost for options, net of estimated forfeitures $ 3,621 $ 1,909 Weighted average period over which unrecognized compensation will be recognized (years) 2.3
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: Nine months ended September 30, 2018 Weighted- Aggregate Non-vested Average Grant Date Shares Grant Date Fair Value (000) Fair Value (000) Outstanding and non-vested at December 31, 2017 227 $ 47 Granted 202 60 Vested (108 ) 56 Forfeited (3 ) 52 Outstanding and non-vested at September 30, 2018 318 $ 55 $ 17,467 Nine months ended September 30, September 30, Share-based compensation for non-vested shares $ 4,902 $ 3,762 Tax benefit for non-vested share compensation $ 1,225 $ 1,343 Unrecognized compensation cost for non-vested shares, net of estimated forfeitures $ 13,146 $ 7,410 Weighted average period over which unrecognized compensation will be recognized (years) 2.0
Key Employee Performance Share Based Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangements 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: Nine months ended September 30, September 30, Expected stock price volatility 24.3 % 24.7 % Weighted average risk-free interest rate 2.2 % 1.4 % The following tables summarize the Company’s employee performance share activity, assuming median share awards, and related information: Nine months ended September 30, 2018 Weighted- Aggregate Performance Average Grant Date Shares Grant Date Fair Value (000) Fair Value (000) Outstanding and non-vested at December 31, 2017 69 $ 58 Granted 18 72 Additional shares awarded based on performance — — Vested — — Forfeited (22 ) 67 Outstanding and non-vested at September 30, 2018 65 $ 58 $ 3,795 Nine months ended September 30, September 30, Share-based compensation for performance shares $ 953 $ 689 Tax benefit for performance share compensation $ 238 $ 246 Unrecognized compensation cost for performance shares, net of estimated forfeitures $ 1,725 $ 1,740 Weighted average period over which unrecognized compensation will be recognized (years) 1.9
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: Nine months ended September 30, 2018 Weighted- Aggregate Non-vested Average Grant Date Shares Grant Date Fair Value (000) Fair Value (000) Outstanding and non-vested at December 31, 2017 11 $ 52 Granted 15 58 Vested (12 ) 52 Forfeited — — Outstanding and non-vested at September 30, 2018 14 $ 58 $ 805 Nine months ended September 30, September 30, Share-based compensation for non-vested shares $ 553 $ 470 Tax benefit for non-vested share compensation $ 138 $ 167 Unrecognized compensation cost for non-vested shares, net of estimated forfeitures $ 501 $ 430 Weighted average period over which unrecognized compensation will be recognized (years) 0.6

Net Income Per Share (Tables)

Net Income Per Share (Tables)	9 Months Ended
	Sep. 30, 2018
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 Nine months ended September 30, September 30, September 30, September 30, (As Adjusted) (As Adjusted) Numerator: Net income and comprehensive income $ 22,329 $ 18,328 $ 64,366 $ 52,575 Income allocated to participating securities (239 ) (146 ) (596 ) (424 ) Numerator for basic and diluted income per share - net income $ 22,090 $ 18,182 $ 63,770 $ 52,151 Denominator (in thousands): Denominator for basic income per share - weighted-average shares 28,964 29,855 29,189 29,977 Effect of dilutive stock options (in thousands) 95 52 81 62 Effect of dilutive performance shares (in thousands) 36 33 33 30 Denominator for diluted income per share - adjusted weighted-average shares 29,095 29,940 29,303 30,069 Basic net income per share $ 0.76 $ 0.61 $ 2.18 $ 1.74 Diluted net income per share $ 0.76 $ 0.61 $ 2.18 $ 1.73 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: September 30, September 30, Anti-dilutive stock options (in thousands) 100 172 Anti-dilutive performance shares (in thousands) 15 — Anti-dilutive non-vested shares and deferred stock units (in thousands) 3 — Total anti-dilutive shares (in thousands) 118 172

Financial Instruments (Tables)

Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2018
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: September 30, 2018 Carrying Value Fair Value Capital leases $ 452 $ 465

Shareholders' Equity Shareholde

Shareholders' Equity Shareholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2018
Schedule of Stockholders Equity [Table Text Block]	On July 21, 2016, our Board of Directors approved a stock repurchase authorization for up to three million shares of the Company’s common stock. The following table summarizes our share repurchases for the three and nine months ended September 30, 2018 and 2017. Three months ended Nine months ended September 30, 2018 September 30, 2017 September 30, 2018 September 30, 2017 Shares repurchased 267,451 579,769 764,617 826,633 Cost of shares repurchased $ 16,820 $ 29,988 $ 44,985 $ 41,983 Average cost per share $ 62.89 $ 51.72 $ 58.83 $ 50.79

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Sep. 30, 2018
Segment Reporting [Abstract]
Summary of segment information	The following tables summarize segment information about results from operations 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 and nine months ended September 30, 2018 and 2017. Three months ended September 30, 2018 Expedited LTL Truckload Premium Pool Distribution Intermodal Eliminations & other Consolidated External revenues $ 186,544 $ 47,158 $ 47,177 $ 50,496 $ — $ 331,375 Intersegment revenues 1,963 784 103 49 (2,899 ) — Depreciation and amortization 5,598 1,543 1,699 1,455 — 10,295 Share-based compensation expense 1,961 178 114 262 332 2,847 Interest expense — 2 — 10 460 472 Income from operations 23,724 1,673 735 7,321 (3,574 ) 29,879 Total assets 672,186 70,841 60,672 159,428 (219,986 ) 743,141 Capital expenditures 15,253 30 1,179 276 — 16,738 Three months ended September 30, 2017 (As Adjusted) Expedited LTL Truckload Premium Pool Distribution Intermodal Eliminations & other Consolidated External revenues $ 164,702 $ 49,385 $ 40,125 $ 44,077 $ — $ 298,289 Intersegment revenues 697 2,076 58 84 (2,915 ) — Depreciation and amortization 5,438 1,546 1,652 1,690 — 10,326 Share-based compensation expense 1,604 101 90 144 — 1,939 Interest expense 1 — — 12 275 288 Income (loss) from operations 23,189 124 681 3,785 (603 ) 27,176 Total assets 638,704 59,657 53,201 146,836 (222,998 ) 675,400 Capital expenditures 8,372 7 239 330 — 8,948 Nine months ended September 30, 2018 Expedited LTL Truckload Premium Pool Distribution Intermodal Eliminations & other Consolidated External revenues $ 546,066 $ 137,221 $ 132,980 $ 148,058 $ — $ 964,325 Intersegment revenues 5,276 5,761 276 217 (11,530 ) — Depreciation and amortization 16,682 4,863 5,208 4,593 — 31,346 Share-based compensation expense 5,595 524 342 776 288 7,525 Interest expense 1 5 — 47 1,274 1,327 Income (loss) from operations 71,023 3,348 3,695 16,333 (7,415 ) 86,984 Total assets 672,186 70,841 60,672 159,428 (219,986 ) 743,141 Capital expenditures 31,960 70 1,832 482 — 34,344 Nine months ended September 30, 2017 (As Adjusted) Expedited LTL Truckload Premium Pool Distribution Intermodal Eliminations & other Consolidated External revenues $ 472,723 $ 144,753 $ 116,542 $ 110,191 $ — $ 844,209 Intersegment revenues 1,913 4,246 199 116 (6,474 ) — Depreciation and amortization 16,521 4,694 5,067 4,296 — 30,578 Share-based compensation expense 4,980 281 297 407 — 5,965 Interest expense 2 — — 36 768 806 Income (loss) from operations 65,164 3,734 3,672 9,548 (1,204 ) 80,914 Total assets 638,704 59,657 53,201 146,836 (222,998 ) 675,400 Capital expenditures 12,640 15 524 431 — 13,610

Description of Business and B_2

Description of Business and Basis of Presentation (Details)	9 Months Ended
	Sep. 30, 2018
Number of principal reporting segments	4

Recent Accounting Pronounceme_3

Recent Accounting Pronouncements (Details) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018USD ($)$ / shares	Sep. 30, 2017USD ($)$ / shares	Sep. 30, 2018USD ($)$ / shares	Sep. 30, 2017USD ($)$ / shares	Dec. 31, 2017USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accounts Receivable, Net, Current	$ 148,464		$ 148,464		$ 147,948
Number of principal reporting segments			4
Operating revenue	331,375	$ 298,289	$ 964,325	$ 844,209
Operating Income (Loss)	29,879	27,176	86,984	80,914
Income Tax Expense (Benefit)	7,077	8,557	21,289	27,522
Net income	$ 22,329	$ 18,328	$ 64,366	$ 52,575
Diluted (in dollars per share) | $ / shares	$ 0.76	$ 0.61	$ 2.18	$ 1.73
Adjustments for New Accounting Pronouncement [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating revenue		$ 298,289		$ 844,209
Operating Expenses		271,113		763,295
Operating Income (Loss)		27,176		80,914
Income Tax Expense (Benefit)		8,557		27,522
Net income		$ 18,328		$ 52,575
Diluted (in dollars per share) | $ / shares		$ 0.61		$ 1.73
Expedited LTL [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating revenue	$ 186,544	$ 164,702	$ 546,066	$ 472,723
Operating Income (Loss)	23,724	23,189	71,023	65,164
Expedited LTL [Member] | Adjustments for New Accounting Pronouncement [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating revenue		165,399		474,636
Truckload Premium Services [Member] | Adjustments for New Accounting Pronouncement [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating revenue		51,461		148,999
Pool Distribution [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating revenue	47,177	40,125	132,980	116,542
Operating Income (Loss)	735	681	3,695	3,672
Pool Distribution [Member] | Adjustments for New Accounting Pronouncement [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating revenue		40,183		116,741
Intermodal [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating revenue	50,496	44,077	148,058	110,191
Operating Income (Loss)	7,321	3,785	16,333	9,548
Intermodal [Member] | Adjustments for New Accounting Pronouncement [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating revenue		44,161		110,307
Elimination [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating Income (Loss)	$ (3,574)	(603)	$ (7,415)	(1,204)
Elimination [Member] | Adjustments for New Accounting Pronouncement [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating revenue		(2,915)		(6,474)
Scenario, Previously Reported [Member] | Adjustments for New Accounting Pronouncement [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating revenue		280,201		794,700
Operating Expenses		253,303		714,804
Operating Income (Loss)		26,898		79,896
Income Tax Expense (Benefit)		8,453		27,131
Net income		$ 18,155		$ 51,948
Diluted (in dollars per share) | $ / shares		$ 0.60		$ 1.71
Scenario, Previously Reported [Member] | Expedited LTL [Member] | Adjustments for New Accounting Pronouncement [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating revenue		$ 155,703		$ 448,571
Scenario, Previously Reported [Member] | Truckload Premium Services [Member] | Adjustments for New Accounting Pronouncement [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating revenue		45,941		132,912
Scenario, Previously Reported [Member] | Pool Distribution [Member] | Adjustments for New Accounting Pronouncement [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating revenue		39,180		113,838
Scenario, Previously Reported [Member] | Intermodal [Member] | Adjustments for New Accounting Pronouncement [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating revenue		42,292		105,853
Scenario, Previously Reported [Member] | Elimination [Member] | Adjustments for New Accounting Pronouncement [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating revenue		(2,915)		(6,474)
Restatement Adjustment [Member] | Adjustments for New Accounting Pronouncement [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating revenue		18,088		49,509
Operating Expenses		17,810		48,491
Operating Income (Loss)		278		1,018
Income Tax Expense (Benefit)		104		391
Net income		$ 173		$ 627
Diluted (in dollars per share) | $ / shares		$ 0.01		$ 0.02
Restatement Adjustment [Member] | Expedited LTL [Member] | Adjustments for New Accounting Pronouncement [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating revenue		$ 9,696		$ 26,065
Restatement Adjustment [Member] | Truckload Premium Services [Member] | Adjustments for New Accounting Pronouncement [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating revenue		5,520		16,087
Restatement Adjustment [Member] | Pool Distribution [Member] | Adjustments for New Accounting Pronouncement [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating revenue		1,003		2,903
Restatement Adjustment [Member] | Intermodal [Member] | Adjustments for New Accounting Pronouncement [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating revenue		1,869		4,454
Restatement Adjustment [Member] | Elimination [Member] | Adjustments for New Accounting Pronouncement [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating revenue		$ 0		$ 0

Acquisitions and Goodwill (Deta

Acquisitions and Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2018	Jul. 25, 2018	Dec. 31, 2017	Oct. 22, 2017	May 07, 2017
Segment Reporting Information [Line Items]
Towne revenue	$ 20,000
Business Acquisition, Goodwill, Expected Tax Deductible Amount	114,481	$ 114,481
Carrying value of goodwill	193,625	193,625	$ 1,954	$ 191,671
Atlantic [Member]
Segment Reporting Information [Line Items]
Business Acquisition, Cash Paid						$ 22,500
Business Combination, Contingent Consideration, Liability						135
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment						1,821
Business Combination, Recognized Identifiable Assets Acquired and Total Liabilities Assumed, Total Tangible Assets						1,821
Carrying value of goodwill						6,719
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles						21,269
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets						23,090
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities						590
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities						590
Business Combination, Recognized Identifiable Assets Acquired and Total Liabilities Assumed, Net Total Assets						22,500
Expedited LTL [Member]
Segment Reporting Information [Line Items]
Carrying value of goodwill	97,593	97,593		97,593
Truckload Expedited [Member]
Segment Reporting Information [Line Items]
Goodwill, Impaired, Accumulated Impairment Loss	(25,686)	(25,686)		(25,686)
Carrying value of goodwill	45,164	45,164		45,164
Pool Distribution [Member]
Segment Reporting Information [Line Items]
Goodwill, Impaired, Accumulated Impairment Loss	(6,953)	(6,953)		(6,953)
Carrying value of goodwill	12,359	12,359		12,359
Intermodal [Member]
Segment Reporting Information [Line Items]
Carrying value of goodwill	$ 71,148	$ 71,148	1,954	$ 69,194
KCL [Member]
Segment Reporting Information [Line Items]
Business Acquisition, Cash Paid					$ 640
Business Combination, Contingent Consideration, Liability					100
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment					223
Business Combination, Recognized Identifiable Assets Acquired and Total Liabilities Assumed, Total Tangible Assets					223
Carrying value of goodwill					277
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles					517
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets					740
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities					100
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities					100
Business Combination, Recognized Identifiable Assets Acquired and Total Liabilities Assumed, Net Total Assets					640
MMT [Member]
Segment Reporting Information [Line Items]
Business Acquisition, Cash Paid			3,737
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment			81
Business Combination, Recognized Identifiable Assets Acquired and Total Liabilities Assumed, Total Tangible Assets			81
Carrying value of goodwill			1,954
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles			3,656
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets			3,737
Business Combination, Recognized Identifiable Assets Acquired and Total Liabilities Assumed, Net Total Assets			3,737
Noncompete Agreements [Member] | Atlantic [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						1,150
Noncompete Agreements [Member] | KCL [Member]
Segment Reporting Information [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life		2 years
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill					6
Noncompete Agreements [Member] | MMT [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			43
Customer Relationships [Member] | Atlantic [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						$ 13,400
Customer Relationships [Member] | KCL [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					$ 234
Customer Relationships [Member] | MMT [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			$ 1,659

Share-Based Payments - Stock Op

Share-Based Payments - Stock Option Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 7,525	$ 5,965
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option grants expire (in years)	7 years
Grants, vesting period (in years)	3 years
Expected dividend yield (in hundredths)	1.10%	1.30%
Expected stock price volatility	24.40%	28.70%
Weighted Average Risk Free Interest Rate	2.70%	2.00%
Expected life of options (in years)	6 years 1 month 11 days	6 years 11 days
Weighted-average fair value of options (dollars per share)	$ 16	$ 13
Outstanding, beginning of period (in shares)	440
Granted (in shares)	193
Exercised (in shares)	(89)
Forfeited (in shares)	0
Outstanding, end of period (in shares)	544
Exercisable, end of period (in shares)	228
Outstanding, beginning of period (in dollars per share)	$ 45
Grants in Period (in dollars per share)	62
Exercises in Period (in dollars per share)	41
Forfeited in period (in dollars per share)	0
Outstanding, end of period (in dollars per share)	51
Exercisable, end of period (in dollars per share)	$ 45
Aggregate Intrinsic Value Outstanding, end of period	$ 6,689
Aggregate Intrinsic Value Exercisable, end of period	$ 4,294
Weighted-average remaining contractual term Outstanding, end of period (in years)	4 years 10 months 11 days
Weighted-average remaining contractual term Exercisable, end of period (in years)	3 years 4 months 11 days
Share-based compensation expense	$ 1,085	$ 993
Tax benefit related to share-based expense	271	354
Unrecognized share-based compensation, net of estimated forfeitures	$ 3,621	$ 1,909
Weighted average period over which unrecognized compensation will be recognized (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	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 7,525	$ 5,965
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)	227
Stock Issued During Period, Shares, Restricted Stock Award, Gross	202
Shares Vested in Period	(108)
Shares Forfeited in Period	(3)
Outstanding and non-vested, end of period (in shares)	318
Outstanding and non-vested, weighted-average grant date fair value, beginning of period	$ 47
Grants in Period, Weighted Average Grant Date Fair Value	60
Vested in Period, Weighed-average grant date fair value	56
Forfeited in period (in dollars per share)	52
Outstanding and non-vested, weighted-average grant date fair value, end of period	$ 55
Outstanding and non-vested, aggregate grant date fair value	$ 17,467
Share-based compensation expense	4,902	3,762
Tax benefit related to share-based expense	1,225	1,343
Unrecognized share-based compensation, net of estimated forfeitures	$ 13,146	$ 7,410
Weighted average period over which unrecognized compensation will be recognized (years)	2 years 11 days

Share-Based Payments - Employ_2

Share-Based Payments - Employee Activity Performance Shares (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 7,525	$ 5,965
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	25.00%
Percentage of Peer Group By Which Company Share Price Must Outperform Before Maximum Incremental Shares Are Issued	90.00%
Expected Stock Price Volatility Rate	24.30%	24.70%
Weighted Average Risk Free Interest Rate	2.20%	1.40%
Outstanding and non-vested, beginning of period (in shares)	69
Grants in Period	18
Shares Forfeited in Period	(22)
Outstanding and non-vested, end of period (in shares)	65
Outstanding and non-vested, weighted-average grant date fair value, beginning of period	$ 58
Grants in Period, Weighted Average Grant Date Fair Value	72
Forfeited in Period, Weighted Average Grant Date Fair Value	67
Outstanding and non-vested, weighted-average grant date fair value, end of period	$ 58
Outstanding and non-vested, aggregate grant date fair value	$ 3,795
Share-based compensation expense	953	$ 689
Tax benefit related to share-based expense	238	246
Unrecognized share-based compensation, net of estimated forfeitures	$ 1,725	$ 1,740
Weighted average period over which unrecognized compensation will be recognized (years)	1 year 10 months 11 days

Share-Based Payments Share-Base

Share-Based Payments Share-Based Payments - Employee Stock Purchase Plan (Details) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2018USD ($)$ / sharesshares	Sep. 30, 2017USD ($)$ / sharesshares
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Share-based compensation expense | $	$ 7,525	$ 5,965
Employee Stock Purchase Plan [Member]
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | shares	367,309
Share-based Compensation Arrangement by Share-based Payment Award, Discount from Market Price, Purchase Date	90.00%
Number of Large Lump Sum Contributions Related to ESPP Stock Purchases	2
Stock Issued During Period, Shares, Employee Stock Purchase Plans (in shares) | shares	4,550	5,188
Share-based Compensation Arrangement by Share-based Payment Award, Per Share Weighted Average Price of Shares Purchased (in dollars per share) | $ / shares	$ 51.98	$ 43.59
Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	$ 7.10	$ 9.69
Share-based compensation expense | $	$ 32	$ 51

Share-Based Payments - Non-empl

Share-Based Payments - Non-employee Director Non-vested Shares (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 7,525	$ 5,965
Nonemployee Director Nonvested Shares Granted Member
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-Employee Director Shares, Vesting Period (in years)	1 year
Outstanding and non-vested, beginning of period (in shares)	11
Grants in Period	15
Shares Vested in Period	(12)
Shares Forfeited in Period	0
Outstanding and non-vested, end of period (in shares)	14
Outstanding and non-vested, weighted-average grant date fair value, beginning of period	$ 52
Grants in Period, Weighted Average Grant Date Fair Value	58
Vested in Period, Weighed-average grant date fair value	52
Forfeited in Period, Weighted Average Grant Date Fair Value	0
Outstanding and non-vested, weighted-average grant date fair value, end of period	$ 58
Outstanding and non-vested, aggregate grant date fair value	$ 805
Share-based compensation expense	553	470
Tax benefit related to share-based expense	138	167
Unrecognized share-based compensation, net of estimated forfeitures	$ 501	$ 430
Weighted average period over which unrecognized compensation will be recognized (years)	7 months 11 days

Senior Credit Facility (Details

Senior Credit Facility (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 29, 2017
Debt Instrument [Line Items]
Proceeds from senior credit facility	$ 0	$ 55,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of Credit Facility Term, In Years			5
Line of Credit Facility, Current Borrowing Capacity			$ 150,000
Additional borrowing capacity of credit facility			100,000
Credit facility amount			$ 250,000
Base reference rate of credit facilities	LIBOR
Interest rate spread above LIBOR as of reporting period (in hundredths)	1.00%
Debt Instrument, Basis Spread on Variable Rate, Minimum			0.30%
Debt Instrument, Basis Spread on Variable Rate, Maximum			0.80%
Proceeds from senior credit facility	$ 40,500
Available borrowing capacity	$ 98,377
Line of Credit Facility, Interest Rate at Period End	3.60%
Letter of Credit [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Capacity Available for Specific Purpose Other than for Trade Purchases			$ 30,000
Letters of Credit Outstanding, Amount	$ 11,123
Swing line loan [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Capacity Available for Specific Purpose Other than for Trade Purchases			$ 30,000
Federal funds [Member]
Debt Instrument [Line Items]
Interest rate spread above LIBOR as of reporting period (in hundredths)	0.50%

Net Income Per Share (Details)

Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Earnings Per Share, Basic, Two Class Method [Abstract]
Net income and comprehensive income	$ 22,329	$ 18,328	$ 64,366	$ 52,575
Income allocated to participating securities	(239)	(146)	(596)	(424)
Numerator for basic and diluted income per share - net income	$ 22,090	$ 18,182	$ 63,770	$ 52,151
Denominator for basic income per share - weighted-average shares	28,964	29,855	29,189	29,977
Denominator for diluted income per share - adjusted weighted-average shares	29,095	29,940	29,303	30,069
Basic income per share (dollars per share)	$ 0.76	$ 0.61	$ 2.18	$ 1.74
Diluted income per share (dollars per share)	$ 0.76	$ 0.61	$ 2.18	$ 1.73
Total number anti-dilutive options, non-vested shares, and performance shares excluded from income per diluted share computation			118	172
Equity Option [Member]
Earnings Per Share, Basic, Two Class Method [Abstract]
Effect of dilutive stock options and non-vested shares	95	52	81	62
Total number anti-dilutive options, non-vested shares, and performance shares excluded from income per diluted share computation			100	172
Key Employee Performance Share Based Plan [Member]
Earnings Per Share, Basic, Two Class Method [Abstract]
Effect of dilutive stock options and non-vested shares	36	33	33	30
Total number anti-dilutive options, non-vested shares, and performance shares excluded from income per diluted share computation			15	0
Nonvested Shares and Deferred Stock Units [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			3	0

Income Taxes (Details)

Income Taxes (Details)	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Effective statutory federal income tax rate	21.00%	35.00%
Effective Income Tax Rate, Continuing Operations	24.90%	34.40%

Financial Instruments - Fair Va

Financial Instruments - Fair Value (Details) $ in Thousands	Sep. 30, 2018USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other debt and capital leases	$ 465
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other debt and capital leases	$ 452

Shareholders' Equity (Details)

Shareholders' Equity (Details) - USD ($)	3 Months Ended							9 Months Ended
	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Sep. 30, 2018	Sep. 30, 2017	Jul. 21, 2016
Shareholders' Equity [Line Items]
Stock Repurchase Program, Number of Shares Authorized to be Repurchased										3,000,000
Stock Repurchased and Retired During Period, Shares	267,451				579,769			764,617	826,633
Stock Repurchased and Retired During Period, In Total Dollars	$ 16,820,000				$ 29,988,000			$ 44,985,000	$ 41,983,000
Stock repurchased, common stock acquired, average cost per share	$ 62.89				$ 51.72			$ 58.83	$ 50.79
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased	1,054,048							1,054,048
Common Stock [Member]
Shareholders' Equity [Line Items]
Dividends per share (in dollars per share)	$ 0.15	$ 0.15	$ 0.15	$ 0.15	$ 0.15	$ 0.15	$ 0.15	$ 0.45	$ 0.45

Segment Reporting (Details)

Segment Reporting (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)	Dec. 31, 2017USD ($)
Segment Reporting Information [Line Items]
External revenues	$ 331,375	$ 298,289	$ 964,325	$ 844,209
Depreciation and amortization	10,295	10,326	31,346	30,578
Share-based compensation expense	2,847	1,939	7,525	5,965
Interest expense	472	288	1,327	806
Operating Income (Loss)	29,879	27,176	86,984	80,914
Total assets	743,141	675,400	743,141	675,400	$ 692,622
Capital expenditures	16,738	8,948	$ 34,344	13,610
Number of reportable segments			4
Expedited LTL [Member]
Segment Reporting Information [Line Items]
External revenues	186,544	164,702	$ 546,066	472,723
Intersegment revenues	1,963	697	5,276	1,913
Depreciation and amortization	5,598	5,438	16,682	16,521
Share-based compensation expense	1,961	1,604	5,595	4,980
Interest expense		1	1	2
Operating Income (Loss)	23,724	23,189	71,023	65,164
Total assets	672,186	638,704	672,186	638,704
Capital expenditures	15,253	8,372	31,960	12,640
Truckload Expedited [Member]
Segment Reporting Information [Line Items]
External revenues	47,158	49,385	137,221	144,753
Intersegment revenues	784	2,076	5,761	4,246
Depreciation and amortization	1,543	1,546	4,863	4,694
Share-based compensation expense	178	101	524	281
Interest expense	2		5
Operating Income (Loss)	1,673	124	3,348	3,734
Total assets	70,841	59,657	70,841	59,657
Capital expenditures	30	7	70	15
Pool Distribution [Member]
Segment Reporting Information [Line Items]
External revenues	47,177	40,125	132,980	116,542
Intersegment revenues	103	58	276	199
Depreciation and amortization	1,699	1,652	5,208	5,067
Share-based compensation expense	114	90	342	297
Operating Income (Loss)	735	681	3,695	3,672
Total assets	60,672	53,201	60,672	53,201
Capital expenditures	1,179	239	1,832	524
Intermodal [Member]
Segment Reporting Information [Line Items]
External revenues	50,496	44,077	148,058	110,191
Intersegment revenues	49	84	217	116
Depreciation and amortization	1,455	1,690	4,593	4,296
Share-based compensation expense	262	144	776	407
Interest expense	10	12	47	36
Operating Income (Loss)	7,321	3,785	16,333	9,548
Total assets	159,428	146,836	159,428	146,836
Capital expenditures	276	330	482	431
Elimination [Member]
Segment Reporting Information [Line Items]
Intersegment revenues	(2,899)	(2,915)	(11,530)	(6,474)
Share-based compensation expense	332		288
Interest expense	460	275	1,274	768
Operating Income (Loss)	(3,574)	(603)	(7,415)	(1,204)
Total assets	$ (219,986)	$ (222,998)	$ (219,986)	$ (222,998)

Subsequent Events (Details)

Subsequent Events (Details) number in Thousands, $ in Thousands	3 Months Ended
	Sep. 30, 2018USD ($)
Subsequent Event [Line Items]
Business Combination, Consideration Transferred	$ 16,250
Other Revenue, Net	$ 20,000
Fair Value Inputs, Earnings before Interest, Taxes, Depreciation, and Amortization Multiple	3,000