FORWARD AIR CORPORATION
Cash Flow Statement
| Line Item | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | FY2010 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $87.3M | $27.5M | $55.6M | $61.2M | $54.5M | $52.7M | $47.2M | $32.0M |
| Depreciation & Amortization | $41.1M | $38.2M | $37.2M | $31.1M | $23.6M | $21.0M | $21.0M | $20.5M |
| Depreciation | $30.9M | $28.1M | $26.3M | $22.6M | $17.8M | $16.5M | $16.4M | $15.9M |
| Amortization | $10.2M | $10.1M | $10.9M | $8.5M | $5.8M | — | — | — |
| Stock-Based Compensation | $8.1M | $8.3M | $7.5M | $6.7M | $6.2M | $6.1M | $6.0M | $6.3M |
| Net Cash from Operating Activities | $103.4M | $130.4M | $85.7M | $91.7M | $90.8M | $68.6M | $77.0M | $54.0M |
| Investing Activities | ||||||||
| Capital Expenditures | $38.3M | $42.2M | $40.5M | $39.5M | $35.4M | $21.4M | $21.2M | $15.1M |
| Business Acquisitions | $23.1M | $11.8M | $61.9M | $90.2M | $45.3M | $0 | $0 | $0 |
| Net Cash from Investing Activities | $-59.2M | $-52.4M | $-100.9M | $-127.7M | $-78.9M | $-20.7M | $-19.7M | $-13.9M |
| Financing Activities | ||||||||
| Dividends Paid | $18.1M | $15.5M | $14.8M | $14.8M | $12.1M | $9.9M | $8.2M | $8.1M |
| Stock Repurchases | $49.0M | $40.0M | $20.0M | $40.0M | $354.0K | $0 | $26.1M | $0 |
| Net Cash from Financing Activities | $-48.8M | $-102.8M | $7.1M | $-49.9M | $3.3M | $5.5M | $-73.0M | $-7.6M |
| Net Change in Cash | $-4.6M | $-24.8M | $-8.1M | $-85.9M | $15.2M | $53.4M | $-15.7M | $32.5M |
| Free Cash Flow | $65.1M | $88.2M | $45.2M | $52.2M | $55.4M | $47.2M | $55.7M | $38.8M |