Franklin Electric Co Inc 8-K, filed Oct 28, 2026
Franklin Electric Co Inc (FELE)
8-K
2026-10-28
For: 2026-10-28
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October 28, 2026
About this 8-K
Franklin Electric Co Inc filed this 8-K on October 28, 2026.
Franklin Electric Co., Inc. reported third-quarter net sales of $633.6 million, up 9%, and diluted EPS of $1.35. It raised full-year 2026 guidance to $2.23 billion to $2.30 billion of net sales and $4.62 to $4.82 for Adjusted Diluted EPS. AI summary
Items reported
- Item 2.02: Financial results
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 28, 2026
(Exact name of registrant as specified in its charter)
| (State of incorporation) | (Commission File Number) | (IRS employer identification no.) | ||||||||||||
| (Address of principal executive offices) | (Zip code) | |||||||
(260 ) 824-2900
(Registrant's telephone number, including area code)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
| Global Select Market | |||||||||||||||||
| (Title of each class) | (Trading symbol) | (Name of each exchange on which registered) | |||||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02. Results of Operations and Financial Condition
On October 28, 2026, Franklin Electric Co., Inc. issued a press release announcing its earnings for the third quarter of 2026. A copy of the release is furnished herewith as Exhibit 99.1 and is incorporated herein by reference. This Current Report on Form 8-K and the press release attached hereto are being furnished pursuant to Item 2.02 of Form 8-K.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits:
| Exhibit Number | Description | |||||||
| 99.1 | ||||||||
| 101 | Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. | |||||||
| 104 | The cover page from this Current Report on Form 8-K, formatted as Inline XBRL | |||||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
FRANKLIN ELECTRIC CO., INC.
(Registrant)
Date: October 28, 2026 | By | /s/ Jennifer A. Wolfenbarger | |||||||||
| Jennifer A. Wolfenbarger | |||||||||||
| Vice President, Chief Financial Officer | |||||||||||
| (Principal Financial and Accounting Officer) | |||||||||||
Exhibit 99.1
NEWS RELEASE FOR IMMEDIATE DISTRIBUTION
FRANKLIN ELECTRIC REPORTS THIRD QUARTER 2026 RESULTS
Third Quarter 2026 Highlights
•Consolidated net sales of $633.6 million, an increase of 9% to the prior year
•Net sales increased across all three segments: 5% in Water Systems, 15% in Energy Systems, and 15% in Distribution
•Operating income was $86.5 million, an increase of 2% to the prior year, with operating margin of 13.7%; Adjusted operating income2 was $95.4 million
•GAAP fully diluted earnings per share (EPS) was $1.35, an increase of 265%; Adjusted diluted EPS1 was $1.50, an increase of 15%
Fort Wayne, IN – October 28, 2026 – Franklin Electric Co., Inc. today announced its third quarter financial results for fiscal year 2026.
Third quarter 2026 net sales were $633.6 million compared to third quarter 2025 net sales of $581.7 million. Third quarter 2026 operating income was $86.5 million, compared to third quarter 2025 operating income of $85.1 million. Third quarter 2026 diluted EPS was $1.35, compared to third quarter 2025 EPS of $0.37. Third quarter adjusted diluted EPS1 was $1.50, compared to 2025 third quarter adjusted diluted EPS1 of $1.31.
1 – Adjusted diluted EPS is a non-GAAP measure. Please refer to our Note Regarding Non-GAAP Financial Measures below for further explanation as well as the final page of this release for a reconciliation of non-GAAP measures to the appropriate GAAP measure.
“Our team delivered strong third quarter revenue growth through a combination of favorable pricing, contributions from recent acquisitions, and healthy customer activity across much of the portfolio. We were pleased with the early contribution from Cat Pumps as our teams remain focused on executing our integration playbook while serving customers at a high level,” commented Joe Ruzynski, Franklin Electric’s CEO.
“Although we experienced margin pressure from higher material and freight costs, we continue to see encouraging order trends and strong customer engagement across many of our businesses. We remain focused on disciplined pricing, productivity initiatives, and operational execution throughout our global manufacturing and distribution network. With a diversified portfolio, strong balance sheet, and multiple opportunities to drive growth, we believe Franklin Electric is well positioned to continue creating long-term value for shareholders.”
Segment Summaries
Water Systems net sales were $352.5 million in the third quarter, an increase of $15.9 million or 5 percent compared to the third quarter of 2025. The incremental sales were driven by the sales impact of recent acquisitions, favorable foreign exchange, and price realization. Water Systems operating income in the third quarter of 2026 was $58.9 million, a decrease of 2 percent over third quarter 2025 operating income of $60.2 million. Water Systems had $0.3 million of restructuring expenses and $0.8 million in acquisition-related costs and impact of selling acquired inventory after markup to fair value as part of acquisition accounting in the third quarter with adjusted operating income2 of $60.0 million, a decrease of 2 percent over the third quarter of 2025 adjusted operating income2 of $61.3 million.
Distribution net sales were $226.1 million, an increase of $28.8 million or 15 percent compared to the third quarter of 2025. Sales increases were driven by higher volumes, the incremental sales impact of recent acquisitions, and price realization. The Distribution segment operating income in the third quarter 2026 was $20.6 million, an increase of 26 percent over third quarter 2025 operating income of $16.3 million.
Energy Systems net sales were $91.7 million in the third quarter 2026, an increase of $11.7 million or 15 percent compared to the third quarter 2025. Sales increases were driven by the sales impact of recent acquisitions, higher price realization and volumes. Energy Systems operating income in the third quarter of 2026 was $23.7 million compared to the third quarter of 2025 operating income of $25.4 million. Energy Systems operating income in the third quarter of 2026 included $4.7 million acquisition-related costs and $3.1 million impact of marking up acquired inventory to fair value as part of acquisition accounting compared to $0.0 million in the third quarter of 2025. Energy Systems adjusted operating income2 was $31.5 million, an increase of 24 percent over the third quarter of 2025 adjusted operating income2 of $25.4 million.
2 – Adjusted operating income is a non-GAAP measure. Please refer to our Note Regarding Non-GAAP Financial Measures below for further explanation as well as the final page of this release for a reconciliation of non-GAAP measures to the appropriate GAAP measure.
2026 Guidance
The Company is raising its guidance for full year 2026 net sales to be in the range of $2.23 billion to $2.30 billion and full year 2026 Adjusted Diluted EPS to be in the range of $4.62 to $4.82.
Earnings Conference Call
A conference call to review earnings and other developments in the business will commence at 9:00 am ET. The third quarter 2026 earnings call will be available via a live webcast. The webcast will be available in a listen only mode by going to:
https://edge.media-server.com/mmc/p/2cri4qog
For those interested in participating in the question-and-answer portion of the call, please register for the call at the link below.
https://register-conf.media-server.com/register/BI65124cd28e0e48ae8f14b2d2dacabc1c
All registrants will receive dial-in information and a PIN allowing them to access the live call. It is recommended that you join 10 minutes prior to the event start (although you may register and dial in at any time during the call).
A replay of the conference call will be available from Wednesday, October 28, 2026, through 9:00 am ET on Wednesday, November 4, 2026, by visiting the listen-only webcast link above.
Forward Looking Statements
"Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein, including those relating to market conditions or the Company’s financial results, costs, expenses or expense reductions, profit margins, inventory levels, foreign currency translation rates, liquidity expectations, business goals and sales growth, involve risks and uncertainties, including but not limited to, risks and uncertainties with respect to general economic and currency conditions, various conditions specific to the Company’s business and industry, weather conditions, new housing starts, market demand, competitive factors, changes in distribution channels, supply constraints,
effect of price increases, raw material costs, technology factors, integration of acquisitions, litigation, government and regulatory actions, changes in tariffs or the impact of any such changes on the Company’s financial results, the Company’s accounting policies, future trends, epidemics and pandemics, and other risks which are detailed in the Company’s Securities and Exchange Commission filings, included in Item 1A of Part I of the Company’s Annual Report on Form 10-K for the fiscal year ending December 31, 2025, Exhibit 99.1 attached thereto and in Item 1A of Part II of the Company’s Quarterly Reports on Form 10-Q. These risks and uncertainties may cause actual results to differ materially from those indicated by the forward-looking statements. All forward-looking statements made herein are based on information currently available, and the Company assumes no obligation to update any forward-looking statements.
Note Regarding Non-GAAP Financial Measures
The company reports its financial results in accordance with U.S. generally accepted accounting principles (GAAP). Management believes that the non-GAAP financial measure Adjusted Diluted EPS and Adjusted Operating Income provide additional meaningful information regarding the company’s performance and financial strength. Non-GAAP financial measures should be viewed in addition to and not as an alternative for the company’s reported results prepared in accordance with GAAP. In addition, not all companies use identical calculations for Adjusted Diluted EPS and Adjusted Operating Income; therefore, Adjusted Diluted EPS and Adjusted Operating Income included in this release may not be comparable to similarly titled measures of other companies. Adjusted Diluted EPS and Adjusted Operating Income are defined and reconciled to what management believes to be the most comparable GAAP measures in a schedule at the end of this release, except for forward-looking measures where a reconciliation to the corresponding GAAP measures is not available due to the variability, complexity and limited visibility of the items that are excluded from the non-GAAP outlook measure.
About Franklin Electric
Franklin Electric is a global leader in the production and marketing of systems and components for the movement of water and energy. Recognized as a technical leader in its products and services, Franklin Electric serves customers worldwide in residential, commercial, agricultural, industrial, municipal and fueling applications. Franklin Electric is proud to be recognized in Newsweek’s lists of America’s Most Responsible Companies 2025, Most Trustworthy Companies 2025, and Greenest Companies 2025.
Franklin Electric Contact:
Jennifer Wolfenbarger / Dean Cantrell
Franklin Electric Co., Inc.
InvestorRelations@fele.com
| FRANKLIN ELECTRIC CO., INC. AND CONSOLIDATED SUBSIDIARIES | |||||||||||||||||||||||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF INCOME | |||||||||||||||||||||||||||||||||||
| (Unaudited) | |||||||||||||||||||||||||||||||||||
| (In thousands, except per share amounts) | |||||||||||||||||||||||||||||||||||
| Third Quarter Ended | Nine Months Ended | ||||||||||||||||||||||||||||||||||
| September 30, 2026 | September 30, 2025 | September 30, 2026 | September 30, 2025 | ||||||||||||||||||||||||||||||||
| Net sales | $ | 633,615 | $ | 581,714 | $ | 1,756,932 | $ | 1,624,395 | |||||||||||||||||||||||||||
| Cost of sales | 409,582 | 373,010 | 1,127,325 | 1,039,962 | |||||||||||||||||||||||||||||||
| Gross profit | 224,033 | 208,704 | 629,607 | 584,433 | |||||||||||||||||||||||||||||||
| Selling, general, and administrative expenses | 137,249 | 123,474 | 392,349 | 366,638 | |||||||||||||||||||||||||||||||
| Restructuring expense | 270 | 112 | 4,548 | 435 | |||||||||||||||||||||||||||||||
| Legal settlement loss | — | — | 4,512 | — | |||||||||||||||||||||||||||||||
| Operating income | 86,514 | 85,118 | 228,198 | 217,360 | |||||||||||||||||||||||||||||||
| Interest expense | (4,687) | (3,496) | (10,522) | (8,100) | |||||||||||||||||||||||||||||||
| Other income (expense), net | 1,231 | (165) | 2,202 | 514 | |||||||||||||||||||||||||||||||
| Foreign exchange expense, net | (2,266) | (2,673) | (4,388) | (8,514) | |||||||||||||||||||||||||||||||
| Pension settlement loss | — | (55,251) | — | (55,251) | |||||||||||||||||||||||||||||||
| Income before income taxes | 80,792 | 23,533 | 215,490 | 146,009 | |||||||||||||||||||||||||||||||
| Income tax expense | 19,745 | 6,329 | 53,647 | 36,868 | |||||||||||||||||||||||||||||||
| Net income | $ | 61,047 | $ | 17,204 | $ | 161,843 | $ | 109,141 | |||||||||||||||||||||||||||
| Less: Net income attributable to noncontrolling interests | (398) | (466) | (1,122) | (1,301) | |||||||||||||||||||||||||||||||
| Net income attributable to Franklin Electric Co., Inc. | $ | 60,649 | $ | 16,738 | $ | 160,721 | $ | 107,840 | |||||||||||||||||||||||||||
| Earnings per share: | |||||||||||||||||||||||||||||||||||
| Basic | $ | 1.37 | $ | 0.37 | $ | 3.62 | $ | 2.38 | |||||||||||||||||||||||||||
| Diluted | $ | 1.35 | $ | 0.37 | $ | 3.58 | $ | 2.35 | |||||||||||||||||||||||||||
| FRANKLIN ELECTRIC CO., INC. AND CONSOLIDATED SUBSIDIARIES | |||||||||||
| CONDENSED CONSOLIDATED BALANCE SHEETS | |||||||||||
| (Unaudited) | |||||||||||
| (In thousands) | |||||||||||
| September 30, 2026 | December 31, 2025 | ||||||||||
| ASSETS | |||||||||||
| Cash and cash equivalents | $ | 159,103 | $ | 99,662 | |||||||
| Receivables (net) | 356,081 | 247,511 | |||||||||
| Inventories | 625,208 | 552,981 | |||||||||
| Other current assets | 68,452 | 58,472 | |||||||||
| Total current assets | 1,208,844 | 958,626 | |||||||||
| Property, plant, and equipment, net | 279,875 | 252,164 | |||||||||
| Lease right-of-use assets, net | 74,730 | 67,867 | |||||||||
| Goodwill and other assets | 1,075,282 | 665,728 | |||||||||
| Total assets | $ | 2,638,731 | $ | 1,944,385 | |||||||
| LIABILITIES AND EQUITY | |||||||||||
| Accounts payable | $ | 215,165 | $ | 174,954 | |||||||
| Accrued expenses and other current liabilities | 156,536 | 116,747 | |||||||||
| Current lease liability | 20,425 | 20,518 | |||||||||
| Current maturities of long-term debt and short-term borrowings | 127,181 | 31,827 | |||||||||
| Total current liabilities | 519,307 | 344,046 | |||||||||
| Long-term debt | 433,463 | 135,184 | |||||||||
| Long-term lease liability | 53,061 | 46,481 | |||||||||
| Deferred income taxes | 88,848 | 39,275 | |||||||||
| Employee benefit plans | 18,410 | 22,833 | |||||||||
| Other long-term liabilities | 75,454 | 29,541 | |||||||||
| Redeemable noncontrolling interest | 1,875 | 1,657 | |||||||||
| Total equity | 1,448,313 | 1,325,368 | |||||||||
| Total liabilities and equity | $ | 2,638,731 | $ | 1,944,385 | |||||||
| FRANKLIN ELECTRIC CO., INC. AND CONSOLIDATED SUBSIDIARIES | |||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||||||||
| (Unaudited) | |||||||||||
| Nine Months Ended | |||||||||||
| (In thousands) | |||||||||||
| September 30, 2026 | September 30, 2025 | ||||||||||
| Cash flows from operating activities: | |||||||||||
| Net income | $ | 161,843 | $ | 109,141 | |||||||
| Adjustments to reconcile net income to net cash flows from operating activities: | |||||||||||
| Depreciation and amortization | 53,112 | 46,258 | |||||||||
| Pension settlement loss, net of tax | — | 41,693 | |||||||||
| Non-cash lease expense | 17,197 | 16,279 | |||||||||
| Share-based compensation | 10,935 | 10,341 | |||||||||
| Other | 171 | 4,188 | |||||||||
| Changes in assets and liabilities: | |||||||||||
| Receivables | (95,089) | (34,660) | |||||||||
| Inventory | (15,578) | (45,036) | |||||||||
| Accounts payable and accrued expenses | 36,053 | 873 | |||||||||
| Operating leases | (17,571) | (16,300) | |||||||||
| Income taxes-U.S. Tax Cuts and Jobs Act | — | (4,837) | |||||||||
| Payment related to a supplier agreement | (29,300) | — | |||||||||
| Other | 17,425 | 6,747 | |||||||||
| Net cash flows from operating activities | 139,198 | 134,687 | |||||||||
| Cash flows from investing activities: | |||||||||||
| Additions to property, plant, and equipment | (34,385) | (29,820) | |||||||||
| Proceeds from sale of property, plant, and equipment | 1,561 | 2,578 | |||||||||
| Acquisitions and investments | (385,157) | (109,948) | |||||||||
| Other investing activities | 39 | 73 | |||||||||
| Net cash flows from investing activities | (417,942) | (137,117) | |||||||||
| Cash flows from financing activities: | |||||||||||
| Net change in debt | 394,090 | 55,721 | |||||||||
| Payment of debt issuance costs | (155) | (974) | |||||||||
| Proceeds from issuance of common stock | 6,156 | 3,991 | |||||||||
| Purchases of common stock | (24,894) | (129,415) | |||||||||
| Dividends paid | (37,287) | (37,184) | |||||||||
| Deferred payments for acquisitions | (1,696) | (4,300) | |||||||||
| Net cash flows from financing activities | 336,214 | (112,161) | |||||||||
| Effect of exchange rate changes on cash and cash equivalents | 1,971 | (3,022) | |||||||||
| Net change in cash and cash equivalents | 59,441 | (117,613) | |||||||||
| Cash and cash equivalents at beginning of period | 99,662 | 220,540 | |||||||||
| Cash and cash equivalents at end of period | $ | 159,103 | $ | 102,927 | |||||||
Key Performance Indicators: Net Sales Summary
| Net Sales For the Second Quarter | |||||||||||||||||||||||||||||
| (in millions) | United States & Canada | Latin America | Europe, Middle East & Africa | Asia Pacific | Total Water | Energy | Distribution | Other/Elims | Consolidated | ||||||||||||||||||||
| Q3 2025 | $ | 200.6 | $ | 55.4 | $ | 57.5 | $ | 23.1 | $ | 336.6 | $ | 80.0 | $ | 197.3 | $ | (32.2) | $ | 581.7 | |||||||||||
| Q3 2026 | $ | 214.0 | $ | 56.1 | $ | 55.0 | $ | 27.4 | $ | 352.5 | $ | 91.7 | $ | 226.1 | $ | (36.7) | $ | 633.6 | |||||||||||
| Change | $ | 13.4 | $ | 0.7 | $ | (2.5) | $ | 4.3 | $ | 15.9 | $ | 11.7 | $ | 28.8 | $ | (4.5) | $ | 51.9 | |||||||||||
| % Change | 7 | % | 1 | % | (4) | % | 19 | % | 5 | % | 15 | % | 15 | % | 9 | % | |||||||||||||
| Foreign currency translation * | $ | (0.4) | $ | 3.8 | $ | 0.3 | $ | 0.8 | $ | 4.5 | $ | (0.3) | $ | — | $ | 4.2 | |||||||||||||
| % Change | — | % | 7 | % | 1 | % | 3 | % | 1 | % | — | % | — | % | 1 | % | |||||||||||||
| Acquisitions | $ | 8.3 | $ | — | $ | 1.4 | $ | — | $ | 9.7 | $ | 7.7 | $ | 7.4 | $ | 24.8 | |||||||||||||
| % Change | 4 | % | — | % | 2 | % | — | % | 3 | % | 10 | % | 4 | % | 4 | % | |||||||||||||
| Volume/Price | $ | 5.5 | $ | (3.1) | $ | (4.3) | $ | 3.5 | $ | 1.6 | $ | 4.3 | $ | 21.4 | $ | (4.5) | $ | 22.8 | |||||||||||
| % Change | 3 | % | (6) | % | (7) | % | 15 | % | — | % | 5 | % | 11 | % | 14 | % | 4 | % | |||||||||||
*The Company has presented local currency price increases used to offset currency devaluation in the highly inflationary economies of Argentina and Turkey within the foreign currency translation, net row above.
Key Performance Indicators: Operating Income and Margin Summary
| Operating Income and Margins | |||||||||||||||||
| (in millions) | For the Third Quarter 2026 | ||||||||||||||||
| Water | Energy | Distribution | Other/Elims | Consolidated | |||||||||||||
| Operating Income/(Loss) | $ | 58.9 | $ | 23.7 | $ | 20.6 | $ | (16.7) | $ | 86.5 | |||||||
| % Operating Income To Net Sales | 16.7 | % | 25.8 | % | 9.1 | % | 13.7 | % | |||||||||
| Operating Income and Margins | |||||||||||||||||
| (in millions) | For the Third Quarter 2025 | ||||||||||||||||
| Water | Energy | Distribution | Other/Elims | Consolidated | |||||||||||||
| Operating Income/(Loss) | $ | 60.2 | $ | 25.4 | $ | 16.3 | $ | (16.8) | $ | 85.1 | |||||||
| % Operating Income To Net Sales | 17.9 | % | 31.8 | % | 8.3 | % | 14.6 | % | |||||||||
Reconciliation of Non-GAAP Financial Measure: Adjusted Diluted EPS
For the Third Quarter | |||||||||||||||||||||||
2026 | 2025 | Change | |||||||||||||||||||||
| Diluted Earnings per Share "EPS" (as reported - US GAAP) | $ | 1.35 | $ | 0.37 | 265 | % | |||||||||||||||||
| Restructuring | $ | 0.01 | $ | — | |||||||||||||||||||
| Impact of selling acquired inventory after markup to fair value as part of acquisition accounting | $ | 0.07 | $ | 0.01 | |||||||||||||||||||
| Acquisition Related Expense | $ | 0.07 | $ | — | |||||||||||||||||||
| Pension Settlement Loss | $ | — | $ | 0.93 | |||||||||||||||||||
| Adjusted Diluted EPS (non-GAAP) | $ | 1.50 | $ | 1.31 | 15 | % | |||||||||||||||||
Reconciliation of Non-GAAP Financial Measure: Adjusted Operating Income
| Operating Income and Adjusted | |||||||||||||||||
| (in millions) | For the Third Quarter 2026 | ||||||||||||||||
| Water | Energy | Distribution | Other/Elims | Consolidated | |||||||||||||
| GAAP Operating Income / (Loss) | $ | 58.9 | $ | 23.7 | $ | 20.6 | $ | (16.7) | $ | 86.5 | |||||||
| Restructuring | $ | 0.3 | $ | — | $ | — | $ | — | $ | 0.3 | |||||||
| Impact of selling acquired inventory after markup to fair value as part of acquisition accounting | $ | 0.5 | $ | 3.1 | $ | — | $ | — | $ | 3.6 | |||||||
| Acquisition Related Expense | $ | 0.3 | $ | 4.7 | $ | — | $ | — | $ | 5.0 | |||||||
| Non-GAAP Adjusted Operating Income / (Loss) | $ | 60.0 | $ | 31.5 | $ | 20.6 | $ | (16.7) | $ | 95.4 | |||||||
| Operating Income and Adjusted | |||||||||||||||||
| (in millions) | For the Third Quarter 2025 | ||||||||||||||||
| Water | Energy | Distribution | Other/Elims | Consolidated | |||||||||||||
| GAAP Operating Income / (Loss) | $ | 60.2 | $ | 25.4 | $ | 16.3 | $ | (16.8) | $ | 85.1 | |||||||
| Restructuring | $ | 0.1 | $ | — | $ | — | $ | — | $ | 0.1 | |||||||
| Impact of selling acquired inventory after markup to fair value as part of acquisition accounting | $ | 1.0 | $ | — | $ | — | $ | — | $ | 1.0 | |||||||
| Acquisition Related Expense | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||
| Non-GAAP Adjusted Operating Income / (Loss) | $ | 61.3 | $ | 25.4 | $ | 16.3 | $ | (16.8) | $ | 86.2 | |||||||