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  "documentTitle": "Federal Signal | Investor Presentation Deck | 31 slides",
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      "text": "Cash Deployment (2020-22)1\nShare Repurchases 11%\nDividends 15%\nCapex 29% 2\nAcquisitions 45%",
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      "text": "Reinvest in the Business",
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      "text": "Share Repurchases",
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      "text": "Completed acquisition of TowHaul Corporation in October 2022 for initial payment of ~$43 M\nCompleted acquisition of Blasters, Inc. in January 2023 for initial payment of ~$13 M\nCompleted acquisition of Trackless in April 2023 for initial purchase price of ~$43 M\nFocused primarily on acquisitions that fit closely within our existing products and services, manufacturing competencies, channels and customers",
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      "text": "Purchased Elgin, IL manufacturing facility in Q4 2021 (~$20 M) and University Park, IL manufacturing facility in Q1 2022 (~$28 M)\nOther cap ex of ~$25 M in 2022, including investments in machinery and equipment to support automating and insourcing opportunities; expect cap ex of $27 M - $30 M in 2023\nInnovation R&D efforts target new and updated products",
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      "text": "Opportunistic share buybacks as a return of cash to our shareholders\nShare repurchases of $16.1M in 2022; ~$59 M of repurchase authorization remaining under current programs (~2% of market cap)",
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      "text": "Provide a competitive dividend yield while funding business growth\nPaid increased dividend of $0.10 per share in Q2 2023, up from $0.09 in Q1 2023; recently declared similar dividend for Q3 2023\nPaid dividends of $6.1 M in Q2 2023 ($21.8 M in full-year 2022)",
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      "text": "In October 2022, executed 5-year, $800 M revolving credit facility, with flexibility to increase further for acquisitions; At the end of Q2 2023, net debt leverage remained low, with ~$381 M of availability under credit facility",
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      "text": "1) Chart depicts cumulative use of cash for each category, relative to the total cash used on all four activities, for the period 2020-2022; excludes investment in rental fleet, which is reported as part of operating cash flows\n2) Includes purchase of 2 manufacturing facilities for ~$48 M (combined)",
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      "text": "Strong Financial Position Supports Priority-Driven Long-Term Capital Allocation",
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