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.
26View entire presentation