Delaware | 001-34480 | 26-2994223 | ||
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
545 Washington Boulevard, Jersey City, NJ | 07310 | |
(Address of principal executive offices) | (Zip Code) |
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 2.02 | Results of Operations and Financial Condition. |
Item 9.01 | Financial Statements and Exhibits. |
Exhibit No. | Description | |
99.1 | Press Release, dated February 25, 2014 |
VERISK ANALYTICS, INC. | |||||
Date: February 25, 2014 | /s/ Kenneth E. Thompson | ||||
Name: | Kenneth E. Thompson | ||||
Title: | Executive Vice President, General Counsel and Corporate Secretary |
• | Diluted GAAP earnings per share (diluted GAAP EPS) were $0.51 for fourth-quarter 2013, and diluted adjusted earnings per share (diluted adjusted EPS) were $0.56. Diluted adjusted EPS from continuing operations were $0.55 for fourth-quarter 2013, versus $0.62 in the same period in 2012. The decline in diluted adjusted EPS from continuing operations was primarily due to certain tax benefits in the fourth-quarter of 2012 which did not recur in 2013. For the fiscal year ended December 31, 2013 diluted GAAP EPS were $2.02 and diluted adjusted EPS from continuing operations were $2.21. These compare to $1.92 and $2.03 for the fiscal year ended December 31, 2012, respectively. |
• | Total revenue from continuing operations increased 7.3% in the fourth quarter and 13.3% for fiscal year 2013. Excluding the impact of recent acquisitions, revenue from continuing operations grew 7.3% for fourth-quarter 2013 and 8.5% for fiscal year 2013. Revenue growth from continuing operations in the fourth quarter was driven by a 7.6% increase in Decision Analytics revenue from continuing operations and a 6.7% growth in Risk Assessment revenue. |
• | EBITDA from continuing operations increased 1.4% to $189.3 million for fourth-quarter 2013, with EBITDA margin, from continuing operations, of 45.4%. For fiscal year 2013, EBITDA from continuing operations increased 11.0% to $744.8 million, with EBITDA margin, from continuing operations, of 46.7%. |
• | Net income was $87.2 million for fourth-quarter 2013 and adjusted net income from continuing operations was $95.3 million, a decrease of 11.3% and 11.5%, respectively, versus the comparable periods in 2012. Net income was $348.4 million and adjusted net income from continuing operations was $381.8 million for fiscal year 2013, an increase of 5.8% and 9.5% versus 2012. |
• | In fourth-quarter 2013, the company repurchased a total of $116.9 million of its common stock under its existing repurchase program. For fiscal 2013, total repurchases were $278.9 million, and as of December 31, 2013, the company had $165.3 million remaining under its share repurchase authorization. |
Three Months Ended | Twelve Months Ended | ||||||||||||||||||||
December 31, | December 31, | ||||||||||||||||||||
2013 | 2012 | Change | 2013 | 2012 | Change | ||||||||||||||||
Revenues from continuing operations | $ | 416,723 | $ | 388,481 | 7.3 | % | $ | 1,595,703 | $ | 1,407,848 | 13.3 | % | |||||||||
EBITDA from continuing operations | $ | 189,294 | $ | 186,712 | 1.4 | % | $ | 744,807 | $ | 671,178 | 11.0 | % | |||||||||
Net income | $ | 87,223 | $ | 98,299 | (11.3 | )% | $ | 348,380 | $ | 329,142 | 5.8 | % | |||||||||
Adjusted net income from continuing operations | $ | 95,284 | $ | 107,647 | (11.5 | )% | $ | 381,833 | $ | 348,787 | 9.5 | % | |||||||||
Diluted GAAP EPS | $ | 0.51 | $ | 0.57 | (10.5 | )% | $ | 2.02 | $ | 1.92 | 5.2 | % | |||||||||
Diluted adjusted EPS | $ | 0.56 | $ | 0.63 | (11.1 | )% | $ | 2.25 | $ | 2.10 | 7.1 | % | |||||||||
Diluted adjusted EPS from continuing operations | $ | 0.55 | $ | 0.62 | (11.3 | )% | $ | 2.21 | $ | 2.03 | 8.9 | % |
Three Months Ended | Twelve Months Ended | ||||||||||||||||||||
December 31, | December 31, | ||||||||||||||||||||
2013 | 2012 | Change | 2013 | 2012 | Change | ||||||||||||||||
Insurance | $ | 138,045 | $ | 128,609 | 7.3 | % | $ | 539,150 | $ | 493,456 | 9.3 | % | |||||||||
Financial services | 22,888 | 18,256 | 25.4 | % | 81,113 | 26,567 | 205.3 | % | |||||||||||||
Healthcare | 77,790 | 72,802 | 6.9 | % | 271,538 | 222,955 | 21.8 | % | |||||||||||||
Specialized markets | 21,651 | 22,333 | (3.1 | )% | 85,626 | 85,364 | 0.3 | % | |||||||||||||
Total Decision Analytics | $ | 260,374 | $ | 242,000 | 7.6 | % | $ | 977,427 | $ | 828,342 | 18.0 | % |
Three Months Ended | Twelve Months Ended | ||||||||||||||||||||
December 31, | December 31, | ||||||||||||||||||||
2013 | 2012 | Change | 2013 | 2012 | Change | ||||||||||||||||
Industry-standard insurance programs | $ | 119,157 | $ | 114,052 | 4.5 | % | $ | 471,130 | $ | 450,646 | 4.5 | % | |||||||||
Property-specific rating and underwriting information | 37,192 | 32,429 | 14.7 | % | 147,146 | 128,860 | 14.2 | % | |||||||||||||
Total Risk Assessment | $ | 156,349 | $ | 146,481 | 6.7 | % | $ | 618,276 | $ | 579,506 | 6.7 | % |
Three Months Ended | Twelve Months Ended | ||||||||||||||||||||
December 31, | December 31, | ||||||||||||||||||||
2013 | 2012 | Change | 2013 | 2012 | Change | ||||||||||||||||
Decision Analytics | $ | 100,188 | $ | 105,510 | (5.0 | )% | $ | 397,876 | $ | 354,918 | 12.1 | % | |||||||||
EBITDA margin, from continuing operations | 38.5 | % | 43.6 | % | 40.7 | % | 42.8 | % | |||||||||||||
Risk Assessment | $ | 89,106 | $ | 81,202 | 9.7 | % | $ | 346,931 | $ | 316,260 | 9.7 | % | |||||||||
EBITDA margin, from continuing operations | 57.0 | % | 55.4 | % | 56.1 | % | 54.6 | % | |||||||||||||
Total EBITDA from continuing operations | $ | 189,294 | $ | 186,712 | 1.4 | % | $ | 744,807 | $ | 671,178 | 11.0 | % | |||||||||
Total EBITDA margin, from continuing operations | 45.4 | % | 48.1 | % | 46.7 | % | 47.7 | % |
Three Months Ended | Twelve Months Ended | ||||||||||||||||||||
December 31, | December 31, | ||||||||||||||||||||
2013 | 2012 | Change | 2013 | 2012 | Change | ||||||||||||||||
Net Income | $ | 87,223 | $ | 98,299 | (11.3 | )% | $ | 348,380 | $ | 329,142 | 5.8 | % | |||||||||
plus: Amortization of intangibles | 14,370 | 17,203 | 63,741 | 52,207 | |||||||||||||||||
less: Income tax effect on amortization of intangibles | (5,461 | ) | (6,881 | ) | (24,222 | ) | (20,883 | ) | |||||||||||||
less: Discontinued operations, net of tax | (848 | ) | (974 | ) | (6,066 | ) | (11,679 | ) | |||||||||||||
Adjusted net income from continuing operations | $ | 95,284 | $ | 107,647 | (11.5 | )% | $ | 381,833 | $ | 348,787 | 9.5 | % | |||||||||
Basic adjusted EPS from continuing operations | $ | 0.57 | $ | 0.65 | (12.3 | )% | $ | 2.27 | $ | 2.10 | 8.1 | % | |||||||||
Diluted adjusted EPS from continuing operations | $ | 0.55 | $ | 0.62 | (11.3 | )% | $ | 2.21 | $ | 2.03 | 8.9 | % | |||||||||
Weighted average shares outstanding (in millions) | |||||||||||||||||||||
Basic | 167.9 | 166.8 | 168.0 | 165.9 | |||||||||||||||||
Diluted | 171.7 | 171.9 | 172.3 | 171.7 |
Three Months Ended | Twelve Months Ended | ||||||||||||||||||||
December 31, | December 31, | ||||||||||||||||||||
2013 | 2012 | Change | 2013 | 2012 | Change | ||||||||||||||||
Net income | $ | 87,223 | $ | 98,299 | (11.3 | )% | $ | 348,380 | $ | 329,142 | 5.8 | % | |||||||||
Depreciation and amortization of fixed and intangible assets | 33,841 | 29,287 | 15.5 | % | 129,931 | 98,844 | 31.5 | % | |||||||||||||
Interest expense | 17,650 | 20,613 | (14.4 | )% | 76,136 | 72,508 | 5.0 | % | |||||||||||||
Provision for income taxes | 51,428 | 39,487 | 30.2 | % | 196,426 | 182,363 | 7.7 | % | |||||||||||||
less: Discontinued operations, net of tax | (848 | ) | (974 | ) | (12.9 | )% | (6,066 | ) | (11,679 | ) | (48.1 | )% | |||||||||
EBITDA from continuing operations | $ | 189,294 | $ | 186,712 | 1.4 | % | $ | 744,807 | $ | 671,178 | 11.0 | % |
• | EBITDA does not reflect our cash expenditures or future requirements for capital expenditures or contractual commitments. |
• | EBITDA does not reflect changes in, or cash requirement for, our working capital needs. |
• | Although depreciation and amortization are noncash charges, the assets being depreciated and amortized often will have to be replaced in the future, and EBITDA does not reflect any cash requirements for such replacements. |
• | Other companies in our industry may calculate EBITDA differently than we do, limiting the usefulness of their calculations as comparative measures. |
Contact: | |
Media | Investor Relations |
Rich Tauberman | Eva Huston |
MWW Group (for Verisk Analytics) | Senior Vice President, Treasurer, and Chief Knowledge Officer |
Verisk Analytics, Inc. | |
202-600-4546 | 201-469-2142 |
rtauberman@mww.com | eva.huston@verisk.com |
David Cohen Director, Investor Relations and Business Analytics Verisk Analytics, Inc. 201-469-2174 david.e.cohen@verisk.com |
2013 | 2012 | ||||||
(In thousands, except for share and per share data) | |||||||
ASSETS | |||||||
Current assets: | |||||||
Cash and cash equivalents | $ | 165,801 | $ | 89,819 | |||
Available-for-sale securities | 3,911 | 4,883 | |||||
Accounts receivable, net | 158,547 | 178,430 | |||||
Prepaid expenses | 25,657 | 21,946 | |||||
Deferred income taxes, net | 5,077 | 10,397 | |||||
Income taxes receivable | 67,346 | 45,975 | |||||
Other current assets | 34,681 | 39,109 | |||||
Current assets held-for-sale | 13,825 | — | |||||
Total current assets | 474,845 | 390,559 | |||||
Noncurrent assets: | |||||||
Fixed assets, net | 233,373 | 154,084 | |||||
Intangible assets, net | 447,618 | 520,935 | |||||
Goodwill | 1,181,681 | 1,247,459 | |||||
Pension assets | 60,955 | — | |||||
Other assets | 20,034 | 47,299 | |||||
Noncurrent assets held-for-sale | 85,945 | — | |||||
Total assets | $ | 2,504,451 | $ | 2,360,336 | |||
LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||
Current liabilities: | |||||||
Accounts payable and accrued liabilities | $ | 188,264 | $ | 187,648 | |||
Short-term debt and current portion of long-term debt | 4,448 | 195,263 | |||||
Pension and postretirement benefits, current | 2,437 | 1,734 | |||||
Fees received in advance | 226,581 | 200,705 | |||||
Current liabilities held-for-sale | 9,449 | — | |||||
Total current liabilities | 431,179 | 585,350 | |||||
Noncurrent liabilities: | |||||||
Long-term debt | 1,271,439 | 1,266,162 | |||||
Pension benefits | 13,007 | 38,655 | |||||
Postretirement benefits | 2,061 | 2,627 | |||||
Deferred income taxes, net | 198,604 | 133,761 | |||||
Other liabilities | 36,043 | 78,190 | |||||
Noncurrent liabilities held-for-sale | 4,529 | — | |||||
Total liabilities | 1,956,862 | 2,104,745 | |||||
Commitments and contingencies | |||||||
Stockholders’ equity: | |||||||
Verisk Class A common stock, $.001 par value; 1,200,000,000 shares authorized; 544,003,038 shares issued and 167,457,927 and 167,727,073 outstanding, respectively | 137 | 137 | |||||
Unearned KSOP contributions | (306 | ) | (483 | ) | |||
Additional paid-in capital | 1,202,106 | 1,044,746 | |||||
Treasury stock, at cost, 376,545,111 and 376,275,965 shares, respectively | (1,864,967 | ) | (1,605,376 | ) | |||
Retained earnings | 1,254,107 | 905,727 | |||||
Accumulated other comprehensive losses | (43,488 | ) | (89,160 | ) | |||
Total stockholders’ equity | 547,589 | 255,591 | |||||
Total liabilities and stockholders’ equity | $ | 2,504,451 | $ | 2,360,336 |
Three Months Ended December 31, | Twelve Months Ended December 31, | ||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||
Revenues | $ | 416,723 | $ | 388,481 | $ | 1,595,703 | $ | 1,407,848 | |||||||
Expenses: | |||||||||||||||
Cost of revenues (exclusive of items shown separately below) | 170,156 | 148,553 | 622,523 | 516,708 | |||||||||||
Selling, general and administrative | 57,679 | 53,284 | 228,982 | 220,068 | |||||||||||
Depreciation and amortization of fixed assets | 19,471 | 12,084 | 66,190 | 46,637 | |||||||||||
Amortization of intangible assets | 14,370 | 17,203 | 63,741 | 52,207 | |||||||||||
Total expenses | 261,676 | 231,124 | 981,436 | 835,620 | |||||||||||
Operating income | 155,047 | 157,357 | 614,267 | 572,228 | |||||||||||
Other income (expense): | |||||||||||||||
Investment income | 399 | 62 | 701 | 438 | |||||||||||
Realized (loss) gain on available-for-sale securities, net | 7 | 6 | (92 | ) | (332 | ) | |||||||||
Interest expense | (17,650 | ) | (20,613 | ) | (76,136 | ) | (72,508 | ) | |||||||
Total other expense, net | (17,244 | ) | (20,545 | ) | (75,527 | ) | (72,402 | ) | |||||||
Income before income taxes | 137,803 | 136,812 | 538,740 | 499,826 | |||||||||||
Provision for income taxes | (51,428 | ) | (39,487 | ) | (196,426 | ) | (182,363 | ) | |||||||
Income from continuing operations | 86,375 | 97,325 | 342,314 | 317,463 | |||||||||||
Income from discontinued operations, net of tax of $665 and $644, and $4,753 and $7,703, respectively | 848 | 974 | 6,066 | 11,679 | |||||||||||
Net income | $ | 87,223 | $ | 98,299 | $ | 348,380 | $ | 329,142 | |||||||
Basic net income per share: | |||||||||||||||
Income from continuing operations | $ | 0.51 | $ | 0.58 | $ | 2.04 | $ | 1.91 | |||||||
Income from discontinued operations | 0.01 | 0.01 | 0.03 | 0.07 | |||||||||||
Basic net income per share | $ | 0.52 | $ | 0.59 | $ | 2.07 | $ | 1.98 | |||||||
Diluted net income per share: | |||||||||||||||
Income from continuing operations | $ | 0.50 | $ | 0.57 | $ | 1.99 | $ | 1.85 | |||||||
Income from discontinued operations | 0.01 | — | 0.03 | 0.07 | |||||||||||
Diluted net income per share | $ | 0.51 | $ | 0.57 | $ | 2.02 | $ | 1.92 | |||||||
Weighted average shares outstanding: | |||||||||||||||
Basic | 167,855,888 | 166,799,952 | 168,031,412 | 165,890,258 | |||||||||||
Diluted | 171,722,557 | 171,925,360 | 172,276,360 | 171,709,518 |
2013 | 2012 | |||||||
(In thousands) | ||||||||
Cash flows from operating activities: | ||||||||
Net income | $ | 348,380 | $ | 329,142 | ||||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||
Depreciation and amortization of fixed assets | 70,279 | 50,624 | ||||||
Amortization of intangible assets | 64,299 | 53,575 | ||||||
Amortization of debt issuance costs and original issue discount | 2,713 | 2,337 | ||||||
Allowance for doubtful accounts | 2,482 | 1,065 | ||||||
KSOP compensation expense | 14,930 | 13,111 | ||||||
Stock based compensation | 21,087 | 24,696 | ||||||
Realized loss (gain) on securities, net | 92 | 332 | ||||||
Deferred income taxes | 44,140 | 63,261 | ||||||
Loss on disposal of fixed assets | 628 | 597 | ||||||
Excess tax benefits from exercised stock options | (109,946 | ) | (60,672 | ) | ||||
Other operating activities, net | 448 | 265 | ||||||
Changes in assets and liabilities, net of effects from acquisitions: | ||||||||
Accounts receivable | 2,106 | (6,425 | ) | |||||
Prepaid expenses and other assets | (2,386 | ) | 550 | |||||
Income taxes | 39,661 | 83,711 | ||||||
Accounts payable and accrued liabilities | 34,022 | 11,256 | ||||||
Fees received in advance | 26,970 | 20,493 | ||||||
Pension and postretirement benefits | (11,392 | ) | (105,829 | ) | ||||
Other liabilities | (41,593 | ) | (13,860 | ) | ||||
Net cash provided by operating activities | 506,920 | 468,229 | ||||||
Cash flows from investing activities: | ||||||||
Acquisitions, net of cash acquired of $0 and $36,113, respectively | (983 | ) | (769,513 | ) | ||||
Purchase of non-controlling interest in non-public companies | — | (2,250 | ) | |||||
Earnout payments | — | (250 | ) | |||||
Escrow funding associated with acquisitions | — | (38,800 | ) | |||||
Proceeds from release of acquisition related escrows | 280 | 1,455 | ||||||
Purchases of fixed assets | (145,976 | ) | (74,373 | ) | ||||
Purchases of available-for-sale securities | (5,870 | ) | (1,784 | ) | ||||
Proceeds from sales and maturities of available-for-sale securities | 7,484 | 1,932 | ||||||
Other investing activities, net | (561 | ) | — | |||||
Net cash used in investing activities | (145,626 | ) | (883,583 | ) | ||||
Cash flows from financing activities: | ||||||||
Proceeds from issuance of long-term debt, net of original issue discount | — | 347,224 | ||||||
Repayment of current portion of long-term debt | (180,000 | ) | — |
Repayment of short-term debt refinanced on a long-term basis | — | (347,224 | ) | |||||
(Repayment) proceeds from short-term debt, net | (10,000 | ) | 357,224 | |||||
Payment of debt issuance costs | (605 | ) | (3,905 | ) | ||||
Repurchases of Class A common stock | (277,411 | ) | (162,275 | ) | ||||
Excess tax benefits from exercised stock options | 109,946 | 60,672 | ||||||
Proceeds from stock options exercised | 80,368 | 68,388 | ||||||
Other financing activities, net | (6,770 | ) | (6,549 | ) | ||||
Net cash (used in) provided by financing activities | (284,472 | ) | 313,555 | |||||
Effect of exchange rate changes | (840 | ) | 15 | |||||
Increase (decrease) in cash and cash equivalents | 75,982 | (101,784 | ) | |||||
Cash and cash equivalents, beginning of period | 89,819 | 191,603 | ||||||
Cash and cash equivalents, end of period | $ | 165,801 | $ | 89,819 | ||||
Supplemental disclosures: | ||||||||
Taxes paid | $ | 126,846 | $ | 47,516 | ||||
Interest paid | $ | 75,084 | $ | 60,977 | ||||
Non-cash investing and financing activities: | ||||||||
Repurchases of Class A common stock included in accounts payable and accrued liabilities | $ | 3,038 | $ | 1,511 | ||||
Deferred tax (liability) established on the date of acquisitions | $ | (1,187 | ) | $ | (80,979 | ) | ||
Capital lease obligations | $ | 10,512 | $ | 3,869 | ||||
Capital expenditures included in accounts payable and accrued liabilities | $ | 5,960 | $ | 4,946 | ||||
Increase in goodwill due to acquisition related escrow distributions | $ | — | $ | 5,934 |
4Q 2013 | Full Year 2013 | ||||||||||||||||||
($ in millions, | Discontinued | Continuing | Discontinued | Continuing | |||||||||||||||
except EPS) | Total | Operations | Operations | Total | Operations | Operations | |||||||||||||
Revenues | $ | 441.6 | $ | 24.9 | $ | 416.7 | $ | 1,704.9 | $ | 109.2 | $ | 1,595.7 | |||||||
Expenses | 249.6 | 22.2 | 227.4 | 944.6 | 93.7 | 850.9 | |||||||||||||
EBITDA | $ | 192.0 | $ | 2.7 | $ | 189.3 | $ | 760.3 | $ | 15.5 | $ | 744.8 | |||||||
EBITDA Margin | 43.5 | % | 10.9 | % | 45.4 | % | 44.6 | % | 14.2 | % | 46.7 | % | |||||||
Net Income | $ | 87.2 | $ | 0.8 | $ | 86.4 | $ | 348.4 | $ | 6.1 | $ | 342.3 | |||||||
Adj. Net Income | $ | 96.2 | $ | 0.9 | $ | 95.3 | $ | 388.2 | $ | 6.4 | $ | 381.8 | |||||||
Diluted Adj. EPS | $ | 0.56 | $ | 0.01 | $ | 0.55 | $ | 2.25 | $ | 0.04 | $ | 2.21 |
(in millions, except EPS) | |||||||||||||||
Revenues | Q1 2012 | Q2 2012 | Q3 2012 | Q4 2012 | FY 2012 | ||||||||||
Risk Assessment Revenues | $ | 144.9 | $ | 144.2 | $ | 143.9 | $ | 146.5 | $ | 579.5 | |||||
Decision Analytics Revenues | 168.5 | 194.9 | 222.9 | 242.0 | 828.3 | ||||||||||
Total Revenues | $ | 313.4 | $ | 339.1 | $ | 366.8 | $ | 388.5 | $ | 1,407.8 | |||||
EBITDA from continuing operations | |||||||||||||||
Risk Assessment EBITDA | $ | 80.4 | $ | 76.1 | $ | 78.6 | $ | 81.2 | $ | 316.3 | |||||
Decision Analytics EBITDA | 71.4 | 80.1 | 97.9 | 105.5 | 354.9 | ||||||||||
Total EBITDA from continuing operations | $ | 151.8 | $ | 156.2 | $ | 176.5 | $ | 186.7 | $ | 671.2 | |||||
Adjusted net income from continuing operations | $ | 75.6 | $ | 76.6 | $ | 89.0 | $ | 107.6 | $ | 348.8 | |||||
Diluted adjusted EPS from continuing operations | $ | 0.44 | $ | 0.45 | $ | 0.52 | $ | 0.62 | $ | 2.03 |
(in millions, except EPS) | |||||||||||||||
Revenues | Q1 2013 | Q2 2013 | Q3 2013 | Q4 2013 | FY 2013 | ||||||||||
Risk Assessment Revenues | $ | 152.6 | $ | 154.3 | $ | 155.1 | $ | 156.3 | $ | 618.3 | |||||
Decision Analytics Revenues | 224.1 | 236.1 | 256.8 | 260.4 | 977.4 | ||||||||||
Total Revenues | $ | 376.7 | $ | 390.4 | $ | 411.9 | $ | 416.7 | $ | 1,595.7 | |||||
EBITDA from continuing operations | |||||||||||||||
Risk Assessment EBITDA | $ | 86.1 | $ | 86.3 | $ | 85.4 | $ | 89.1 | $ | 346.9 | |||||
Decision Analytics EBITDA | 90.4 | 93.6 | 113.7 | 100.2 | 397.9 | ||||||||||
Total EBITDA from continuing operations | $ | 176.5 | $ | 179.9 | $ | 199.1 | $ | 189.3 | $ | 744.8 | |||||
Adjusted net income from continuing operations | $ | 90.0 | $ | 92.2 | $ | 104.3 | $ | 95.3 | $ | 381.8 | |||||
Diluted adjusted EPS from continuing operations | $ | 0.52 | $ | 0.53 | $ | 0.61 | $ | 0.55 | $ | 2.21 |
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