Investor Presentaiton
Reconciliation of Adjusted Net Income
($'s in Millions)
(unaudited)
Net Income
Impairment charge on businesses subsequently divested
Tax impact
Impact of the fair value mark up of acquired inventory
Tax impact
Impact of U.S. tax reform
Adjusted Net Income
Three Months Ended
September 30,
2019
2018
Nine Months Ended
September 30,
2019
2018
$ 32.7
$ 3.2
23.2
$ 92.2
$ 48.0
23.2
(1.2)
(1.2)
0.4
(0.1)
2.0
(0.5)
$ 33.0
$
(0.7)
24.5
(0.7)
$ 93.7
$
69.3
GAAP does not define "Adjusted Net Income" and it should not be considered as an alternative to earnings measures defined by GAAP, including net income. We use this metric to assess the operating
performance of our consolidated business. We adjust net income for certain non-routine items to provide investors with what we believe is a more consistent comparison of earnings performance from
period to period.
26
/ Moving Infrastructure Forward - Investor Presentation, November 2019
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