Federal Signal Investor Presentation Deck slide image

Federal Signal Investor Presentation Deck

Appendix V: Non-GAAP Measures (Adjusted EPS) ($ in millions, except per share data) Net income, as reported Add: Income tax expense Income before income taxes Add: Acquisition and integration-related expenses (benefits) Environmental remediation costs of a discontinued operation (1) Adjusted income before income taxes Adjusted income tax expense (2) Adjusted net income Diluted EPS, as reported Adjusted diluted EPS $ $ a $ $ Three Months Ended June 30, 2023 2022 40.3 $ 12.4 52.7 0.6 0.8 54.1 (12.7) 41.4 $ 0.66 $ 0.67 $ 33.5 11.1 44.6 (1.7) 42.9 (10.7) 32.2 0.55 0.53 (1) Environmental remediation costs of a discontinued operation in the three months ended June 30, 2023 relate to estimated environmental clean up costs at a facility associated with a business that was discontinued in 2009. Such charges are included as a component of Other expense (income), net on the Condensed Consolidated Statements of Operations. (2) Adjusted income tax expense for the three months ended June 30, 2023 and 2022 was recomputed after excluding the impact of acquisition and integration-related expenses (benefits) and environmental remediation costs of a discontinued operation, where applicable. Adjusted net income and earnings per share (“EPS”) The Company believes that modifying its 2023 and 2022 net income and diluted EPS provides additional measures which are representative of the Company's underlying performance and improves the comparability of results between reporting periods. During the three months ended June 30, 2023 and 2022, adjustments were made to reported GAAP net income and diluted EPS to exclude the impact of acquisition and integration- related expenses (benefits) and environmental remediation costs of a discontinued operation, where applicable. 26
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