Schneider Investor Presentation
Non-GAAP reconciliation - adjusted income from operations¹
($M)
FY2017
FY2018 FY2019 FY2020
FY2021
4Q21
4Q20
Income from operations
$280
$376
$208
$287
$534
$178
$105
Litigation²
6
13
(14)
(14)
Goodwill impairment³
2
35
11
11
Duplicate chassis costs4
15
I
I
WSL contingent
(14)
consideration adjustment
Acquisition-related costs
2
2
Restructuring charges
64
1
2
Adjusted income from operations
$282
$384
$306
$301
$533
$177
$106
Notes:
1 Table may not sum due to rounding.
2 2018-Costs associated with the settlement of a lawsuit that challenged Washington state labor law compliance; 2020-Costs resulting from an
adverse ruling related to an excise tax audit by the IRS for tax years 2011-2013; 2021-Subsequent recovery of 2020 taxes and interest.
3. The Company recorded impairment charges for its Asia reporting unit in 2018 and 2021 and a full impairment of its FTFM reporting unit in 2019.
4 As of December 31, 2017, the Company completed its migration to an owned chassis model, which required the replacement of rented chassis
with owned chassis. Accordingly, the Company adjusted its income from operations for rental costs related to idle chassis as rented units
were replaced.
5
Represents a fair value adjustment to the contingent consideration related to the acquisition of Watkins Shepard and Lodeso (WSL).
6 Advisory, legal, and accounting costs related to the December 31, 2021 acquisition of MLS.
7 Activity associated with the shutdown of the FTFM service offering.
13 Investor presentation
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