FSS Federal Signal Corp

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Organization and Description of the Business

Federal Signal Corporation was founded in 1901 and was reincorporated as a Delaware corporation in 1969. References herein to the “Company,” “we,” “our” or “us” refer collectively to Federal Signal Corporation and its subsidiaries.

Products manufactured and services rendered by the Company are divided into two reportable segments: Environmental Solutions Group and Safety and Security Systems Group. The individual operating businesses are organized as such because they share certain characteristics, including technology, marketing, distribution and product application, which create long-term synergies. These segments are discussed in Note 12 – Segment Information.

Basis of Presentation and Consolidation

The accompanying unaudited condensed consolidated financial statements represent the consolidation of Federal Signal Corporation and its subsidiaries included herein and have been prepared by the Company pursuant to the rules and regulations of the United States (“U.S.”) Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures presented herein are adequate to ensure the information presented is not misleading. Except as otherwise noted, these condensed consolidated financial statements have been prepared in accordance with the Company’s accounting policies described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022, and should be read in conjunction with those consolidated financial statements and the notes thereto.

These condensed consolidated financial statements include all normal and recurring adjustments that we considered necessary to present a fair statement of our results of operations, financial condition and cash flow. Intercompany balances and transactions have been eliminated in consolidation.

The results reported in these condensed consolidated financial statements should not be regarded as necessarily indicative of results that may be expected for the entire year, which may differ materially due to, among other things, the risk factors described under Part I, Item 1A, Risk Factors, of the Company’s Annual Report on Form 10-K for the year ended December 31, 2022, which was filed with the SEC on March 1, 2023. While we label our quarterly information using a calendar convention whereby our first, second and third quarters are labeled as ending on March 31, June 30 and September 30, respectively, it is our longstanding practice to establish interim quarterly closing dates based on a 13-week period ending on a Saturday, with our fiscal year ending on December 31. The effects of this practice are not material and exist only within a reporting year.

Recent Accounting Pronouncements and Accounting Changes

There are no new accounting pronouncements issued, but not yet adopted, that are expected to have a material impact on the Company’s results of operations, financial position or cash flow.

Use of Estimates

The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect (i) the reported amounts of assets and liabilities, (ii) the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and (iii) the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Significant Accounting Policies

There have been no changes to the Company’s significant accounting policies as disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022.

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Acquisitions Completed in 2023

Acquisition of Trackless

On April 3, 2023, the Company completed the acquisition of substantially all the assets and operations of Trackless Vehicles Limited and Trackless Vehicles Asset Corp, including the wholly-owned subsidiary Work Equipment Ltd. (collectively, “Trackless”), a leading Canadian manufacturer of multi-purpose, off-road multi-purpose tractors and attachments. The Company expects that the Trackless acquisition will further bolster its position as an industry leading diversified industrial manufacturer of specialized vehicles for maintenance and infrastructure markets with leading brands of premium, value-adding products, and a strong supporting aftermarket platform.

The assets and liabilities of Trackless have been consolidated into the Company’s Condensed Consolidated Balance Sheet as of June 30, 2023, and the post-acquisition results of operations have been included in the Condensed Consolidated Statements of Operations, within the Environmental Solutions Group.

The initial cash consideration paid by the Company to acquire Trackless was C$57.3 million (approximately $42.6 million), inclusive of certain preliminary closing adjustments, and was funded through existing cash and borrowings under the Company’s credit agreement. In addition, there is a contingent earn-out payment of up to C$6.0 million (approximately $4.5 million), based upon the achievement of certain financial targets over a specified performance period. Any additional closing adjustments are expected to be finalized before the end of 2023.

The acquisition is being accounted for in accordance with Accounting Standards Codification (“ASC”) 805, Business Combinations. Accordingly, the total purchase price has been allocated on a preliminary basis to assets acquired and liabilities assumed in connection with the acquisition based on their estimated fair values as of the completion of the acquisition. A single estimate of fair value results from a complex series of judgments about future events and uncertainties and relies heavily on estimates and assumptions. The Company’s judgments used to determine the estimated fair value assigned to each class of assets acquired and liabilities assumed, as well as asset lives, can materially impact the Company’s results of operations. Due to the proximity of the date of acquisition to the date of issuance of the condensed consolidated financial statements, the Company’s purchase price allocation as of June 30, 2023 reflects various provisional estimates that were based on the information that was available as of the acquisition date and the filing date of this Form 10-Q. The Company believes that information provides a reasonable basis for estimating the fair values of assets acquired and liabilities assumed; however, the determination of those fair values is not yet finalized. Thus, the preliminary measurements of fair value set forth in the table below are subject to change during the measurement period as valuations are finalized. The Company expects to finalize the valuation and complete the purchase price allocation as soon as practicable.

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The following table summarizes the preliminary fair value of assets acquired and liabilities assumed as of the acquisition date:

(in millions)
Purchase price, inclusive of preliminary closing adjustments			$	42.6
Estimated fair value of additional consideration (a)			4.5
Total consideration			47.1
Accounts receivable			4.7
Inventories			14.3
Prepaid expenses and other current assets			0.1
Rental equipment			1.6
Properties and equipment			4.4
Customer relationships (b)			10.5
Trade names (c)			2.8
Other intangible assets			1.3
Accounts payable			(1.5)
Accrued liabilities			(0.5)
Net assets acquired			37.7
Goodwill (d)			$	9.4

(a)    Represents the preliminary estimated fair value of the contingent earn-out payment as of the acquisition date, which is included in Other long-term liabilities on the Condensed Consolidated Balance Sheets. See Note 13 – Fair Value Measurements for discussion of the methodology used to determine the fair value of the contingent earn-out payment.

(b)    Represents the preliminary fair value assigned to customer relationships, which are considered to be definite-lived intangible assets, with a preliminary estimated useful life of approximately 12 years.

(c)    Represents the preliminary fair value assigned to trade names, which are considered to be indefinite-lived intangible assets.

(d)    Goodwill, which is primarily tax-deductible, has been allocated to the Environmental Solutions Group on the basis that the synergies identified will primarily benefit this segment.

In the period between the April 3, 2023 closing date and June 30, 2023, Trackless generated $10.9 million of net sales and $2.7 million of operating income, before elimination of intercompany transactions. The acquisition was not, and would not have been, material to the Company’s net sales or results of operations for the three and six months ended June 30, 2022. Accordingly, the Company’s consolidated results do not differ materially from historical performance as a result of the acquisition, and therefore, unaudited pro-forma results are not presented.

Acquisition of Blasters

On January 3, 2023, the Company completed the acquisition of substantially all the assets and operations of Blasters, Inc. and Blasters Technologies, LLC (collectively, “Blasters”), a leading U.S. manufacturer of truck-mounted waterblasting equipment. The Company expects that the Blasters acquisition will further bolster its position as an industry leading diversified industrial manufacturer of specialized vehicles for maintenance and infrastructure markets with leading brands of premium, value-adding products, and a strong supporting aftermarket platform.

The assets and liabilities of Blasters have been consolidated into the Company’s Condensed Consolidated Balance Sheet as of June 30, 2023, and the post-acquisition results of operations have been included in the Condensed Consolidated Statements of Operations, within the Environmental Solutions Group.

The initial cash consideration paid by the Company to acquire Blasters was $13.2 million, inclusive of certain closing adjustments, of which $0.2 million was received in July 2023. In addition, there is a contingent earn-out payment of up to $8.0 million, based upon the achievement of certain financial targets over a specified performance period. The purchase price was funded through existing cash and borrowings under the Company’s credit agreement.

The acquisition is being accounted for in accordance with ASC 805, Business Combinations. The Company’s purchase price allocation as of June 30, 2023 reflects various provisional estimates that were based on the information that was available as of the acquisition date and the filing date of this Form 10-Q. The Company believes that information provides a reasonable basis for estimating the fair values of assets acquired and liabilities assumed; however, the determination of those fair values is not yet finalized. Thus, the preliminary measurements of fair value set forth in the table below are subject to change during the

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measurement period as valuations are finalized. The Company expects to finalize the valuation and complete the purchase price allocation as soon as practicable.

The following table summarizes the preliminary fair value of assets acquired and liabilities assumed as of the acquisition date:

(in millions)
Purchase price, inclusive of closing adjustments			$	13.2
Estimated fair value of additional consideration (a)			4.0
Total consideration			17.2
Accounts receivable			0.7
Inventories			4.6
Prepaid expenses and other current assets			0.1
Properties and equipment			1.1
Operating lease right-of-use assets (b)			1.1
Customer relationships (c)			5.3
Trade names (d)			2.6
Other intangible assets			0.3
Operating lease liabilities (b)			(1.1)
Accounts payable			(0.9)
Accrued liabilities			(0.3)
Customer deposits			(0.5)
Finance lease obligations			(0.1)
Net assets acquired			12.9
Goodwill (e)			$	4.3

(a)    Represents the preliminary estimated fair value of the contingent earn-out payment as of the acquisition date, of which $1.0 million is included in Other current liabilities and $3.0 million is included in Other long-term liabilities on the Condensed Consolidated Balance Sheets. See Note 13 – Fair Value Measurements for discussion of the methodology used to determine the fair value of the contingent earn-out payment.

(b)    In connection with the acquisition, the Company entered into a lease agreement for the Blasters facility, which is owned by affiliates of the sellers. The related-party lease contains a market-based annual rent of $0.2 million, an initial lease term of five years, and options to renew.

(c)    Represents the preliminary fair value assigned to customer relationships, which are considered to be definite-lived intangible assets, with a preliminary estimated useful life of approximately 12 years.

(d)    Represents the preliminary fair value assigned to trade names, which are considered to be indefinite-lived intangible assets.

(e)    Goodwill, which is tax-deductible, has been allocated to the Environmental Solutions Group on the basis that the synergies identified will primarily benefit this segment.

In the period between the January 3, 2023 closing date and June 30, 2023, Blasters generated $10.3 million of net sales and $1.0 million of operating income. The acquisition was not, and would not have been, material to the Company’s net sales or results of operations for the three and six months ended June 30, 2022. Accordingly, the Company’s consolidated results do not differ materially from historical performance as a result of the acquisition, and therefore, unaudited pro-forma results are not presented.

Acquisitions Completed in 2022

On October 3, 2022, the Company completed the acquisition of substantially all the assets and operations of TowHaul

Corporation (“TowHaul”). TowHaul is a leading manufacturer of off-road towing and hauling equipment. The TowHaul acquisition bolstered the Company’s position as an industry leading diversified industrial manufacturer of specialized vehicles for maintenance and infrastructure markets with leading brands of premium, value-adding products, and a strong supporting aftermarket platform.

The cash consideration paid by the Company to acquire TowHaul was $43.3 million, which was funded through existing cash and borrowings under the Company’s credit facility.

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The acquisition is being accounted for in accordance with ASC 805, Business Combinations. The Company’s purchase price allocation as of June 30, 2023 reflects various provisional estimates that were based on the information that was available as of the acquisition date and the filing date of this Form 10-Q. The Company believes that information provides a reasonable basis for estimating the fair values of assets acquired and liabilities assumed; however, the determination of those fair values is not yet finalized. Thus, the preliminary measurements of fair value set forth in the table below are subject to change during the measurement period as valuations are finalized. During the three months ended June 30, 2023, the Company recognized measurement period adjustments, which primarily resulted from obtaining a third-party valuation of acquired intangible assets, that resulted in a $7.2 million increase to the carrying value of Goodwill from the $12.9 million previously recorded as of December 31, 2022, with a corresponding reduction in the carrying value of acquired intangible assets. The measurement period adjustments did not have a material impact on the Company’s Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2023. The Company expects to finalize the valuation and complete the purchase price allocation as soon as practicable.

The following table summarizes the preliminary fair value of assets acquired and liabilities assumed as of the acquisition date:

(in millions)
Purchase price, inclusive of closing adjustments			$	43.3
Total consideration			43.3
Accounts receivable			1.5
Inventories			4.7
Properties and equipment			6.4
Customer relationships (a)			6.9
Trade names (b)			5.7
Other intangible assets			1.0
Accounts payable			(0.1)
Accrued liabilities			(0.5)
Customer deposits			(2.4)
Net assets acquired			23.2
Goodwill (c)			$	20.1

(a)    Represents the preliminary fair value assigned to customer relationships, which are considered to be definite-lived intangible assets, with a preliminary estimated useful life of approximately 6 years.

(b)    Represents the preliminary fair value assigned to trade names, which are considered to be indefinite-lived intangible assets.

(c)    Goodwill, which is tax-deductible, has been allocated to the Environmental Solutions Group on the basis that the synergies identified will primarily benefit this segment.

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The following table presents the Company’s Net sales disaggregated by geographic region, based on the location of the end customer, and by major product line:

			Three Months Ended June 30,												Six Months Ended June 30,
(in millions)			2023						2022						2023						2022
Geographic Region:
U.S.			$	338.9					$	299.8					$	648.0					$	564.2
Canada			69.4						44.0						113.3						86.3
Europe/Other			34.1						22.9						66.6						46.4
Total net sales			$	442.4					$	366.7					$	827.9					$	696.9
Major Product Line:
Environmental Solutions
Vehicles and equipment (a)			$	285.0					$	235.8					$	530.3					$	453.2
Parts			59.6						45.1						114.4						85.9
Rental income (b)			16.9						16.1						27.9						25.8
Other (c)			11.5						9.3						19.2						15.6
Total			373.0						306.3						691.8						580.5
Safety and Security Systems
Public safety and security equipment			42.4						37.5						82.6						73.6
Industrial signaling equipment			18.7						15.1						37.3						29.3
Warning systems			8.3						7.8						16.2						13.5
Total			69.4						60.4						136.1						116.4
Total net sales			$	442.4					$	366.7					$	827.9					$	696.9

(a)    Includes net sales from the sale of new and used vehicles and equipment, including sales of rental equipment.

(b)    Represents income from vehicle and equipment lease arrangements with customers.

(c)    Primarily includes revenues from services, such as maintenance and repair work, and the sale of extended warranty contracts.

Contract Balances

The Company recognizes contract liabilities when cash payments, such as customer deposits, are received in advance of the Company’s satisfaction of the related performance obligations. Contract liabilities are recognized as Net sales when the related performance obligations are satisfied, which generally occurs within three to six months of the cash receipt. Contract liability balances are not materially impacted by any other factors. The Company’s contract liabilities were $29.8 million and $28.9 million as of June 30, 2023 and December 31, 2022, respectively. Contract assets, such as unbilled receivables, were not material as of any of the periods presented herein.

The following table summarizes the components of Inventories:

(in millions)			June 30, 2023						December 31, 2022
Finished goods			$	131.4					$	97.5
Raw materials			173.6						164.3
Work in process			34.4						30.9
Total inventories (a)			$	339.4					$	292.7

(a) Amounts at June 30, 2023 include inventories acquired in the acquisitions of Blasters and Trackless - See Note 2 - Acquisitions.

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The following table summarizes the components of Long-term borrowings and finance lease obligations:

(in millions)			June 30, 2023						December 31, 2022
2022 Credit Agreement (a)			$	407.4					$	361.0
Finance lease obligations			1.8						2.0
Total borrowings and finance lease obligations, including current portion			409.2						363.0
Less: Current borrowings			2.4						0.8
Less: Current finance lease obligations			0.7						0.7
Total long-term borrowings and finance lease obligations			$	406.1					$	361.5

(a)     Defined as the Third Amended and Restated Credit Agreement, dated October 21, 2022, as amended.

As more fully described within Note 13 – Fair Value Measurements, the Company uses a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. The fair value of the Company’s borrowings and finance lease obligations is based on interest rates that we believe are currently available to us for issuance of debt with similar terms and remaining maturities (Level 2 input). The carrying amounts of the Company’s borrowings and finance lease obligations approximate their fair values as of June 30, 2023 and December 31, 2022.

The 2022 Credit Agreement is a senior secured credit facility which provides the Company and certain of its foreign subsidiaries access to an aggregate principal amount of $800 million, consisting of (i) a revolving credit facility in an amount up to $675 million (the “Revolver”) and (ii) a term loan facility in an amount up to $125 million.

Borrowings under the 2022 Credit Agreement bear interest, at the Company’s option, at a base rate or an Adjusted Term Secured Overnight Financing Rate (“SOFR”), Adjusted Eurocurrency Rate or Adjusted Daily Simple SONIA Rate (as each is defined in the 2022 Credit Agreement), plus, in each case, an applicable margin. The applicable margin ranges from zero to 0.75% for base rate borrowings and 1.00% to 1.75% for Adjusted Term SOFR, Adjusted Eurocurrency Rate or Adjusted Daily Simple SONIA Rate borrowings. The Company must also pay a commitment fee to the lenders ranging between 0.10% to 0.25% per annum on the unused portion of the Revolver along with other standard fees. Applicable margin, issuance fees and other customary expenses are payable on outstanding letters of credit.

The Company is subject to certain net leverage ratio and interest coverage ratio financial covenants under the 2022 Credit Agreement that are measured at each fiscal quarter-end. The Company was in compliance with all such covenants as of June 30, 2023.

As of June 30, 2023, there was $407.4 million of cash drawn and $11.2 million of undrawn letters of credit under the 2022 Credit Agreement, with $381.4 million of net availability for borrowings. As of December 31, 2022, there was $361.0 million cash drawn and $11.2 million of undrawn letters of credit under the 2022 Credit Agreement, with $427.8 million of net availability for borrowings.

The following table summarizes the gross borrowings and gross payments under the Company’s credit facilities:

			Six Months Ended June 30,
(in millions)			2023						2022
Gross borrowings			$	115.7					$	67.0
Gross payments			71.0						22.9

Interest Rate Swaps

On October 21, 2022, the Company entered into an interest rate swap (the “2022 Swap”) with a notional amount of $75.0 million, as a means of fixing the floating interest rate component on $75.0 million of its variable-rate debt. The 2022 Swap is designated as a cash flow hedge, with an original maturity date of October 31, 2025.

As a result of the application of hedge accounting treatment, all unrealized gains and losses related to the derivative instrument are recorded in Accumulated other comprehensive loss and are reclassified into operations in the same period in which the hedged transaction affects earnings. Hedge effectiveness is assessed quarterly. The Company does not use derivative instruments for trading or speculative purposes.

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The fair value of the Company’s interest rate swaps is derived from a discounted cash flow analysis based on the terms of the contract and the interest rate curve (Level 2 inputs) and measured on a recurring basis in our Condensed Consolidated Balance Sheets.

At June 30, 2023 and December 31, 2022, the fair value of the 2022 Swap was an asset of $0.6 million and a liability of $0.3 million, which were included in Other long-term assets and Other long-term liabilities on the Condensed Consolidated Balance Sheets, respectively. During the three and six months ended June 30, 2023, unrealized pre-tax gains of $1.4 million and $0.9 million, respectively, were recorded in Accumulated other comprehensive loss. During the three and six months ended June 30, 2022, unrealized pre-tax gains $0.2 million and $3.1 million, respectively, were recorded in Accumulated other comprehensive loss. No ineffectiveness was recorded in either period.

In connection with entering into the 2022 Credit Agreement in October 2022, the Company terminated an interest rate swap initially entered into in 2019, receiving proceeds of $4.3 million upon settlement. The settlement gain was recorded in Accumulated other comprehensive loss and is being amortized into earnings ratably through the original maturity date of July 30, 2024. During the three and six months ended June 30, 2023, the Company recognized non-cash settlement gains of $0.6 million and $1.2 million, respectively, as a component of Interest expense on the Condensed Consolidated Statements of Operations. At June 30, 2023 and December 31, 2022, an unrealized settlement gain of $2.6 million and $3.8 million, respectively, was included in Accumulated other comprehensive loss on the Condensed Consolidated Balance Sheets.

The following table summarizes the carrying amount of goodwill, and the changes in the carrying amount of goodwill in the six months ended June 30, 2023, by segment:

(in millions)			Environmental Solutions						Safety & Security Systems						Total
Balance at January 1, 2023			$	343.8					$	109.6					$	453.4
Acquisitions, including measurement period adjustments			20.9						—						20.9
Translation adjustments			0.3						0.8						1.1
Balance at June 30, 2023			$	365.0					$	110.4					$	475.4

The following table summarizes the gross carrying amount and accumulated amortization of intangible assets for each major class of intangible assets:

			June 30, 2023																		December 31, 2022
(in millions)			Gross Carrying Value						Accumulated Amortization						Net Carrying Value						Gross Carrying Value						Accumulated Amortization						Net Carrying Value
Definite-lived intangible assets:
Customer relationships (a)			$	162.6					$	(59.1)					$	103.5					$	153.7					$	(52.0)					$	101.7
Other (a)			8.3						(3.9)						4.4						5.7						(3.4)						2.3
Total definite-lived intangible assets			170.9						(63.0)						107.9						159.4						(55.4)						104.0
Indefinite-lived intangible assets:
Trade names			104.5						—						104.5						99.9						—						99.9
Other			4.3						—						4.3						4.3						—						4.3
Total indefinite-lived intangible assets			108.8						—						108.8						104.2						—						104.2
Total intangible assets			$	279.7					$	(63.0)					$	216.7					$	263.6					$	(55.4)					$	208.2

(a)    Average useful life of customer relationships and other definite-lived intangible assets are estimated to be approximately 12 years and 6 years, respectively. The average useful life across all definite-lived intangible assets is estimated to be approximately 11 years.

The table above includes preliminary estimates of the fair value and useful lives of certain definite and indefinite-lived intangible assets related to the acquisitions of Trackless, Blasters, and TowHaul, which were completed during the second

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quarter of 2023, the first quarter of 2023, and the fourth quarter of 2022, respectively. As further described in Note 2 – Acquisitions, the preliminary measurements of fair value included in the table above are subject to change during the measurement period as the applicable third-party valuations are finalized.

Amortization expense for the three months ended June 30, 2023 and 2022 was $3.9 million and $3.2 million, respectively. Amortization expense for the six months ended June 30, 2023 and 2022 was $7.5 million and $6.5 million, respectively.

For the three months ended June 30, 2023, the Company recognized income tax expense of $12.4 million, resulting in an effective tax rate of 23.5%. For the three months ended June 30, 2022, the Company recognized income tax expense of $11.1 million, resulting in an effective tax rate of 24.9%. The Company’s effective tax rate in the current-year quarter was lower than the prior-year quarter, primarily due to a $0.7 million increase in excess tax benefits associated with stock-based compensation activity.

For the six months ended June 30, 2023, the Company recognized income tax expense of $19.7 million, resulting in an effective tax rate of 22.5%. For the six months ended June 30, 2022, the Company recognized income tax expense of $18.2 million, resulting in an effective tax rate of 25.2%. The Company’s effective tax rate in the current-year period was lower than the prior-year period, primarily due to a $1.6 million increase in excess tax benefits associated with stock-based compensation activity and a $0.5 million benefit associated with changes in tax reserves.

During the six months ended June 30, 2023, the Company filed amended U.S. federal income tax returns for the 2015 through 2018 tax years to claim a worthless stock deduction. The aggregate refund claim associated with the worthless stock deduction was $13.2 million, including interest of $1.4 million, and the Company recognized an offsetting increase to its liability for unrecognized tax benefits.

The following table summarizes the components of Net periodic pension (benefit) expense: 

			U.S. Benefit Plan																								Non-U.S. Benefit Plan
			Three Months Ended June 30,												Six Months Ended June 30,												Three Months Ended June 30,												Six Months Ended June 30,
(in millions)			2023						2022						2023						2022						2023						2022						2023						2022
Interest cost			$	1.5					$	1.0					3.0						2.1						$	0.4					$	0.2					0.8						0.4
Amortization of actuarial loss			0.3						0.6						0.6						1.1						0.3						0.1						0.5						0.3
Amortization of prior service cost			—						—						—						—						—						0.1						—						0.1
Expected return on plan assets			(1.9)						(1.8)						(3.8)						(3.5)						(0.5)						(0.5)						(1.0)						(1.0)
Net periodic pension (benefit) expense			$	(0.1)					$	(0.2)					$	(0.2)					$	(0.3)					$	0.2					$	(0.1)					$	0.3					$	(0.2)

The items that comprise Net periodic pension (benefit) expense, are included as a component of Other expense (income), net on the Condensed Consolidated Statements of Operations.

Financial Commitments

The Company provides indemnifications and other guarantees in the ordinary course of business, the terms of which range in duration and often are not explicitly defined. Specifically, the Company is occasionally required to provide letters of credit and bid and performance bonds to various customers, principally to act as security for retention levels related to casualty insurance policies and to guarantee the performance of subsidiaries that engage in export and domestic transactions. At June 30, 2023, the Company had outstanding performance and financial standby letters of credit, as well as outstanding bid and performance

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bonds, aggregating to $25.0 million. If any such letters of credit or bonds are called, the Company would be obligated to reimburse the issuer of the letter of credit or bond. The Company believes the likelihood of any currently outstanding letter of credit or bond being called is remote.

The Company has transactions involving the sale of equipment to certain of its customers which include (i) guarantees to repurchase the equipment for a fixed price at a future date and (ii) guarantees to repurchase the equipment from the third-party lender in the event of default by the customer. As of June 30, 2023, both the single year and maximum potential cash payments the Company could be required to make to repurchase equipment under these agreements amounted to $1.9 million. The Company’s risk under these repurchase arrangements would be partially mitigated by the value of the products repurchased as part of the transaction. Historical cash requirements and losses associated with these obligations have not been significant but could increase if customer defaults exceed current expectations.

The Company has certain lease agreements for facilities owned by affiliates which include provisions requiring the Company to guarantee any remaining lease payments in the event of default. As of June 30, 2023, the total amount of future payments guaranteed under these agreements was approximately $1.0 million. The Company believes the likelihood of defaulting on these leases is remote.

Product Warranties

The Company issues product performance warranties to customers with the sale of its products. The specific terms and conditions of these warranties vary depending upon the product sold and country in which the Company does business, with warranty periods generally ranging from one to five years. The Company estimates the costs that may be incurred under its basic limited warranty and records a liability in the amount of such costs at the time the sale of the related product is recognized. Factors that affect the Company’s warranty liability include (i) the number of units under warranty, (ii) historical and anticipated rates of warranty claims and (iii) costs per claim. The Company periodically assesses the adequacy of its recorded warranty liabilities and adjusts the amounts as necessary.

The following table summarizes the changes in the Company’s warranty liabilities during the six months ended June 30, 2023 and 2022:

(in millions)			2023						2022
Balance at January 1			$	9.3					$	9.7
Provisions to expense			3.8						3.5
Acquisitions			0.1						—
Payments			(3.8)						(3.9)
Balance at June 30			$	9.4					$	9.3

Legal Proceedings

The Company is subject to various claims, including pending and possible legal actions for product liability and other damages, and other matters arising in the ordinary course of the Company’s business. On a quarterly basis, the Company reviews uninsured material legal claims against the Company and accrues for the costs of such claims as appropriate in the exercise of management’s best judgment and experience. However, due to a lack of factual information available to the Company about a claim, or the procedural stage of a claim, it may not be possible for the Company to reasonably assess either the probability of a favorable or unfavorable outcome of the claim or to reasonably estimate the amount of loss should there be an unfavorable outcome. Therefore, for many claims, the Company cannot reasonably estimate a range of loss.

The Company believes, based on current knowledge and after consultation with counsel, that the outcome of such claims and actions will not have a material adverse effect on the Company’s results of operations or financial condition. However, in the event of unexpected future developments, it is possible that the ultimate resolution of such matters, if unfavorable, could have a material adverse effect on the Company’s results of operations, financial condition or cash flow.

Hearing Loss Litigation

The Company has been sued for monetary damages by firefighters who claim that exposure to the Company’s sirens has impaired their hearing and that the sirens are therefore defective. There were 33 cases filed during the period of 1999 through 2004, involving a total of 2,443 plaintiffs, in the Circuit Court of Cook County, Illinois. These cases involved more than 1,800

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firefighter plaintiffs from locations outside of Chicago. In 2009, six additional cases were filed in Cook County, involving 299 Pennsylvania firefighter plaintiffs. During 2013, another case was filed in Cook County involving 74 Pennsylvania firefighter plaintiffs.

The trial of the first 27 of these plaintiffs’ claims occurred in 2008, whereby a Cook County jury returned a unanimous verdict in favor of the Company.

An additional 40 Chicago firefighter plaintiffs were selected for trial in 2009. Plaintiffs’ counsel later moved to reduce the number of plaintiffs from 40 to nine. The trial for these nine plaintiffs concluded with a verdict against the Company and for the plaintiffs in varying amounts totaling $0.4 million. The Company appealed this verdict. On September 13, 2012, the Illinois Appellate Court rejected this appeal. The Company thereafter filed a petition for rehearing with the Illinois Appellate Court, which was denied on February 7, 2013. The Company sought further review by filing a petition for leave to appeal with the Illinois Supreme Court on March 14, 2013. On May 29, 2013, the Illinois Supreme Court issued a summary order declining to accept review of this case. On July 1, 2013, the Company satisfied the judgments entered for these plaintiffs, which resulted in final dismissal of these cases.

A third consolidated trial involving eight Chicago firefighter plaintiffs occurred during November 2011. The jury returned a unanimous verdict in favor of the Company at the conclusion of this trial.

Following this trial, on March 12, 2012 the trial court entered an order certifying a class of the remaining Chicago Fire Department firefighter plaintiffs for trial on the sole issue of whether the Company’s sirens were defective and unreasonably dangerous. The Company petitioned the Illinois Appellate Court for interlocutory appeal of this ruling. On May 17, 2012, the Illinois Appellate Court accepted the Company’s petition. On June 8, 2012, plaintiffs moved to dismiss the appeal, agreeing with the Company that the trial court had erred in certifying a class action trial in this matter. Pursuant to plaintiffs’ motion, the Illinois Appellate Court reversed the trial court’s certification order.

Thereafter, the trial court scheduled a fourth consolidated trial involving three firefighter plaintiffs, which began in December 2012. Prior to the start of this trial, the claims of two of the three firefighter plaintiffs were dismissed. On December 17, 2012, the jury entered a complete defense verdict for the Company.

Following this defense verdict, plaintiffs again moved to certify a class of Chicago Fire Department plaintiffs for trial on the sole issue of whether the Company’s sirens were defective and unreasonably dangerous. Over the Company’s objection, the trial court granted plaintiffs’ motion for class certification on March 11, 2013 and scheduled a class action trial to begin on June 10, 2013. The Company filed a petition for review with the Illinois Appellate Court on March 29, 2013 seeking reversal of the class certification order.

On June 25, 2014, a unanimous three-judge panel of the First District Illinois Appellate Court issued its opinion reversing the class certification order of the trial court. Specifically, the Appellate Court determined that the trial court’s ruling failed to satisfy the class-action requirements that the common issues of the firefighters’ claims predominate over the individual issues and that there is an adequate representative for the class. During a status hearing on October 8, 2014, plaintiffs represented to the Court that they would again seek to certify a class of firefighters on the issue of whether the Company’s sirens were defective and unreasonably dangerous. On January 12, 2015, plaintiffs filed motions to amend their complaints to add class action allegations with respect to Chicago firefighter plaintiffs, as well as the approximately 1,800 firefighter plaintiffs from locations outside of Chicago. On March 11, 2015, the trial court granted plaintiffs’ motions to amend their complaints. On April 24, 2015, the cases were transferred to Cook County chancery court to decide the class certification issues. On March 23, 2018, plaintiffs filed a motion to certify as a class all firefighters from the Chicago Fire Department who have filed lawsuits in this matter. The Company objected to certification and the parties engaged in discovery and other matters related to this motion.

Thereafter, on December 20, 2021, the parties executed a settlement agreement to resolve claims of approximately 462 firefighters still involved in the Cook County litigation, as well as the DuPage County litigation discussed below. Under the

terms of the settlement agreement, the Company agreed to pay a lump sum of $0.2 million to resolve the claims of these firefighters. The estimated settlement amount was accrued by the Company. The Company agreed to pay this lump sum amount based upon its assessment of firefighters who meet minimal bilateral hearing loss standards, which is a subset of the larger group referenced above. The settlement agreement did not require the payment of any attorney fees by the Company. The settlement agreement also provided that plaintiffs’ attorney would withdraw from representing firefighters who do not agree to the settlement. The Company had discretion to void the settlement agreement if less than 93% of these firefighters agreed to settle their claims; the settlement agreement would also be voided if less than 70% of eligible firefighters agreed to the settlement. The settlement agreement was subject to review and approval by the Court. In July 2022, the Company issued the

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$0.2 million settlement payment for eligible plaintiffs who submitted a release. The claims of all other eligible plaintiffs were dismissed for want of prosecution on August 5, 2022.

The Company also filed motions to dismiss cases involving firefighters who worked for fire departments located outside of the State of Illinois based on improper venue. On February 24, 2017, the Circuit Court of Cook County entered orders dismissing the cases of 1,770 such firefighter plaintiffs from the jurisdiction of the State of Illinois. Pursuant to these orders, these plaintiffs had six months thereafter to refile their cases in jurisdictions where these firefighters are located. Prior to this six-month deadline, attorneys representing some of these plaintiffs contacted the Company regarding possible settlement of their cases. During the year ended December 31, 2017, the Company entered into a global settlement agreement with two attorneys who represented approximately 1,090 of these plaintiffs. Under the terms of the settlement agreement, the Company offered $700 per plaintiff to settle these cases and 717 plaintiffs accepted this offer as a final settlement. The settlement agreement did not require the payment of any attorney fees by the Company. The attorneys representing these plaintiffs agreed to withdraw from representing plaintiffs who did not respond to the settlement offer. It is the Company’s position that the non-settling plaintiffs who failed to timely refile their cases following the February 2017 dismissal by the Circuit Court of Cook County are now barred from doing so by the statute of limitations. The Company filed a venue motion seeking to transfer to DuPage County cases involving 10 plaintiffs who reside and work in Illinois but outside of Cook County. The Court granted this motion on June 28, 2017.

The Company was also sued on this issue outside of the Cook County, Illinois venue. Between 2007 and 2009, a total of 71 lawsuits involving 71 plaintiffs were filed in the Court of Common Pleas, Philadelphia County, Pennsylvania. Three of these cases were dismissed pursuant to pretrial motions filed by the Company. Another case was voluntarily dismissed. Prior to trial in four cases, the Company paid nominal sums to obtain dismissals.

Three trials occurred in Philadelphia involving these cases filed in 2007 through 2009. The first trial involving one of these plaintiffs occurred in 2010, when the jury returned a verdict for the plaintiff. The jury found that the Company’s siren was not defectively designed, but that the Company negligently constructed the siren. The jury awarded damages in the amount of less than $0.1 million. The Company appealed this verdict. Another trial, involving nine Philadelphia firefighter plaintiffs, also occurred in 2010 when the jury returned a defense verdict for the Company as to all claims and all plaintiffs involved in that trial. The third trial, also involving nine Philadelphia firefighter plaintiffs, was completed during 2010 when the jury returned a defense verdict for the Company as to all claims and all plaintiffs involved in that trial.

Following defense verdicts in the last two Philadelphia trials, the Company negotiated settlements with respect to all remaining filed cases in Philadelphia at that time, as well as other firefighter claimants represented by the attorney who filed the Philadelphia cases. On January 4, 2011, the Company entered into a Global Settlement Agreement (the “Settlement Agreement”) with the law firm of the attorney representing the Philadelphia claimants, on behalf of 1,125 claimants the firm represented (the “Claimants”) and who had asserted product claims against the Company (the “Claims”). Three hundred eight of the Claimants had lawsuits pending against the Company in Cook County, Illinois.

The Settlement Agreement provided that the Company pay a total amount of $3.8 million (the “Settlement Payment”) to settle the Claims (including the costs, fees and other expenses of the law firm in connection with its representation of the Claimants), subject to certain terms, conditions and procedures set forth in the Settlement Agreement. In order for the Company to be required to make the Settlement Payment: (i) each Claimant who agreed to settle his or her claims had to sign a release acceptable to the Company (a “Release”), (ii) each Claimant who agreed to the settlement and who was a plaintiff in a lawsuit, had to dismiss his or her lawsuit with prejudice, (iii) by April 29, 2011, at least 93% of the Claimants identified in the Settlement Agreement must have agreed to settle their claims and provide a signed Release to the Company and (iv) the law firm had to withdraw from representing any Claimants who did not agree to the settlement, including those who filed lawsuits. If the conditions to the settlement were met, but less than 100% of the Claimants agreed to settle their Claims and sign a Release, the Settlement Payment would be reduced by the percentage of Claimants who did not agree to the settlement.

On April 22, 2011, the Company confirmed that the terms and conditions of the Settlement Agreement had been met and made a payment of $3.6 million to conclude the settlement. The amount was based upon the Company’s receipt of 1,069 signed releases provided by Claimants, which was 95% of all Claimants identified in the Settlement Agreement.

The Company generally denies the allegations made in the claims and lawsuits by the Claimants and denies that its products caused any injuries to the Claimants. Nonetheless, the Company entered into the Settlement Agreement for the purpose of minimizing its expenses, including legal fees, and avoiding the inconvenience, uncertainty and distraction of the claims and lawsuits.

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During April through October 2012, 20 new cases were filed in the Court of Common Pleas, Philadelphia County, Pennsylvania. These cases were filed on behalf of 20 Philadelphia firefighters and involved various defendants in addition to the Company. Five of these cases were subsequently dismissed. The first trial involving these 2012 Philadelphia cases occurred during December 2014 and involved three firefighter plaintiffs. The jury returned a verdict in favor of the Company. Following this trial, all of the parties agreed to settle cases involving seven firefighter plaintiffs set for trial during January 2015 for nominal amounts per plaintiff.

In January 2015, plaintiffs’ attorneys filed two new complaints in the Court of Common Pleas, Philadelphia, Pennsylvania on behalf of approximately 70 additional firefighter plaintiffs. The vast majority of the firefighters identified in these complaints were located outside of Pennsylvania. One of the complaints in these cases, which involved 11 firefighter plaintiffs from the District of Columbia, was removed to federal court in the Eastern District of Pennsylvania. Plaintiffs voluntarily dismissed all claims in this case on May 31, 2016. The Company thereafter moved to recover various fees and costs in this case, asserting that plaintiffs’ counsel failed to properly investigate these claims prior to filing suit. The Court granted this motion on April 25, 2017, awarding $0.1 million to the Company (the “Order”). After plaintiffs appealed this Order, the United States Court of Appeals for the Third Circuit affirmed the lower court decision awarding fees and costs to the Company.

With respect to claims of other out-of-state firefighters involved in these two cases, the Company moved to dismiss these claims as improperly filed in Pennsylvania. The Court granted this motion and dismissed these claims on November 5, 2015. During August through December 2015, another nine new cases were filed in the Court of Common Pleas, Philadelphia County, Pennsylvania. These cases involved a total of 193 firefighters, most of whom were located outside of Pennsylvania. The Company again moved to dismiss all claims filed by out-of-state firefighters in these cases as improperly filed in Pennsylvania. On May 24, 2016, the Court granted this motion and dismissed these claims. Plaintiffs appealed this decision and, on September 25, 2018, the appellate court reversed this dismissal. The Company then filed a petition with the appellate court requesting that the court reconsider its ruling. On December 7, 2018, the appellate court granted the Company’s petition and withdrew its prior decision. On June 25, 2020, the Court issued a decision affirming the trial court’s dismissal of these cases with prejudice.

On May 13, 2016, four new cases were filed in Philadelphia state court, involving a total of 55 Philadelphia firefighters who live in Pennsylvania. During August 2016, the Company settled a case for nominal amounts involving four Philadelphia firefighters that had been set for trial in Philadelphia state court during September 2016. During 2017, plaintiffs filed additional cases in the Court of Common Pleas, Philadelphia County, involving over 100 Philadelphia firefighter plaintiffs. During January 2017, plaintiffs filed a motion to consolidate and bifurcate, similar to a motion filed in the Pittsburgh hearing loss cases, as described below. The Company filed an opposition to this motion. These cases were then transferred to the mass tort program in Philadelphia for pretrial purposes. Plaintiffs’ counsel thereafter dismissed several plaintiffs. During November 2017, a trial involving one Philadelphia firefighter occurred. The jury returned a verdict in favor of the Company in this trial. Prior to a dismissal of these cases pursuant to the Tolling Agreement, discussed below, there was a total of 75 firefighters involved in cases pending in the Philadelphia mass tort program.

During March 2014, an action also was brought in the Court of Common Pleas of Erie County, Pennsylvania on behalf of 61 firefighters. This case likewise involves various defendants in addition to the Company. After the Company filed pretrial motions, 33 Erie County firefighter plaintiffs voluntarily dismissed their claims. Prior to a dismissal of these cases pursuant to the Tolling Agreement, discussed below, there was a total of 28 firefighters involved in cases filed in Erie County.

During August 2017, five cases involving 70 firefighter plaintiffs were filed in Lackawanna County, Pennsylvania. These cases involve firefighter plaintiffs who originally filed in Cook County several years ago and were dismissed pursuant to the Company’s forum non conveniens motion.

On September 17, 2014, 20 lawsuits, involving a total of 193 Buffalo Fire Department firefighters, were filed in the Supreme Court of the State of New York, Erie County. All of the cases filed in Erie County, New York were removed to federal court in the Western District of New York. Plaintiffs filed a motion to consolidate and bifurcate these cases, similar to the motion filed in the Pittsburgh hearing loss cases, as described below. The Company filed an opposition to the motion. During February 2015, a lawsuit involving one New York City firefighter plaintiff was filed in the Supreme Court of the State of New York, New York County. The plaintiff named the Company as well as several other parties as defendants. That case subsequently was transferred to federal court in the Northern District of New York and thereafter dismissed. During April 2015 through January 2016, 29 new cases involving a total of 235 firefighters were filed in various counties in the New York City area. During December 2016 through October 2017, additional cases were filed in these jurisdictions. On February 5, 2018, the Company was served with a complaint in an additional case filed in Kings County, New York. This case involved one plaintiff. Prior to a

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dismissal of these cases pursuant to the Tolling Agreement, discussed below, there was a total of 536 firefighters involved in cases filed in the State of New York.

During November 2015, the Company was served with a complaint filed in Union County, New Jersey state court, involving 34 New Jersey firefighters. This case was transferred to federal court in the District of New Jersey. During the period from January through May 2016, eight additional cases were filed in various New Jersey state courts. Most of the firefighters in these cases resided in New Jersey and worked at New Jersey fire departments. During December 2016, a case involving one New Jersey firefighter was filed in the United States District Court of New Jersey. On May 2, 2017, plaintiffs filed a motion to consolidate and bifurcate in the pending federal court case in New Jersey. This motion was similar to bifurcation motions filed by plaintiffs in Pittsburgh, Buffalo and Philadelphia. The Court denied the motion as premature. Pursuant to a petition filed by both parties, all New Jersey state court cases were consolidated for pretrial purposes. Prior to a dismissal of these cases pursuant to the Tolling Agreement, discussed below, there were a total of 61 firefighters involved in cases filed in New Jersey.

During May through October 2016, nine cases were filed in Suffolk County, Massachusetts state court, naming the Company as a defendant. These cases involved 194 firefighters who lived and worked in the Boston area. During August 2017, plaintiffs filed additional cases in Suffolk County court. The Company moved to transfer various cases filed in Suffolk County to other counties in Massachusetts where plaintiffs resided and worked. Prior to a dismissal of these cases pursuant to the Tolling Agreement, discussed below, there was a total of 218 firefighters involved in cases filed in Massachusetts.

During August and September 2017, plaintiffs’ attorneys filed additional hearing loss cases in Florida. The Company was the only named defendant. These cases were filed in several different counties in Florida, including Tampa, Miami and Orlando municipalities. Prior to a dismissal of these cases pursuant to the Tolling Agreement, discussed below, there was a total of 166 firefighters involved in cases filed in Florida.

During April through July 2013, additional cases were filed in Allegheny County, Pennsylvania on behalf of 247 plaintiff firefighters from Pittsburgh and against various defendants, including the Company. During May 2016, two additional cases were filed against the Company in Allegheny County involving 19 Pittsburgh firefighters. After the Company filed pretrial motions, the Court dismissed claims of 55 Pittsburgh firefighter plaintiffs. The Court scheduled trials for May, September and November 2016, for eight firefighters per trial. Prior to the first scheduled trial in Pittsburgh, the Court granted the Company’s motion for summary judgment and dismissed all claims asserted by plaintiff firefighters involved in this trial. Following an appeal by the plaintiff firefighters, the appellate court affirmed this dismissal. The next trial for six Pittsburgh firefighters started on November 7, 2016. Shortly after this trial began, plaintiffs’ counsel moved for a mistrial because a key witness suddenly became unavailable. The Court granted this motion and rescheduled this trial for March 6, 2017. During January 2017, plaintiffs also moved to consolidate and bifurcate trials involving Pittsburgh firefighters. In particular, plaintiffs sought one trial involving liability issues to apply to all Pittsburgh firefighters who filed suit against the Company. The Company filed an opposition to this motion. On April 18, 2017, the trial court granted plaintiffs’ motion to bifurcate the next Pittsburgh trial. Pursuant to a motion for clarification filed by the Company, the Court ruled that the bifurcation order would only apply to six plaintiffs who were part of the next trial group in Pittsburgh. The Company thereafter sought an interlocutory appeal of the Court’s bifurcation order. The appellate court declined to accept the appeal at that time. A bifurcated trial began on September 27, 2017 in Allegheny County, Pennsylvania. Prior to and during trial, two plaintiffs were dismissed, resulting in four plaintiffs remaining for trial. After approximately two weeks of trial, the jury found that the Company’s siren product was not defective or unreasonably dangerous and rendered a verdict in favor of the Company.

A second trial involving Pittsburgh firefighters began during January 2018. At the outset of this trial, plaintiffs’ attorneys, who represent all firefighters who have filed cases in Allegheny County, Philadelphia, Buffalo, New Jersey, Massachusetts, and Florida, as described above, requested that the Company consider settlement of various cases. This trial was continued to allow the parties to further discuss possible settlement. During March 2018, the parties agreed in principle on a framework (the “Settlement Framework”) to resolve hearing loss claims and cases in all jurisdictions involved in the hearing loss litigation except in Cook County and Lackawanna County, and excluding one case involving one firefighter in New York City. The firefighters excluded from the Settlement Framework are represented by different attorneys. The Company settled the cases in Lackawanna County and settled the case involving one firefighter in New York City for nominal amounts. Pursuant to the Settlement Framework, the Company would pay $700 to each firefighter who filed a lawsuit and is eligible to be part of the settlement. The Company would pay $300 to each firefighter who has not yet filed a case and is eligible to be part of the settlement. The settlement agreement does not include the payment of any attorney fees by the Company. To be eligible for settlement, among other things, firefighters must provide proof that they have high frequency noise-induced hearing loss. There are approximately 2,160 firefighters whose claims may be considered as part of this settlement, including approximately 921 firefighters who have ongoing filed lawsuits. This Settlement Framework was finalized in a global settlement agreement

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executed on November 4, 2019. Pursuant to this global settlement agreement, the parties are now in the process of determining how many of the approximately 2,160 firefighters will be eligible to participate in the settlement. In order to minimize the parties’ respective legal costs and expenses during this settlement process, on July 5, 2018, the parties entered into a tolling agreement (the “Tolling Agreement”). Pursuant to the Tolling Agreement, counsel for the settling firefighters agreed to dismiss the pending lawsuits in all jurisdictions except for the Allegheny County (Pittsburgh), Pennsylvania cases, and the Company agreed to a tolling of any statute of limitations applicable to the dismissed cases. The Tolling Agreement continued in place until the parties executed the global settlement agreement on November 4, 2019. After execution of the global settlement agreement, the Allegheny County (Pittsburgh) cases were dismissed. The global settlement agreement requires plaintiffs’ attorneys to withdraw from representing firefighters who elect not to participate in this settlement.

As of June 30, 2023, the Company has recognized an estimated liability for the potential settlement amount under the Settlement Framework. While it is reasonably possible that the ultimate resolution of this matter may result in a loss in excess of the amount accrued, the incremental loss is not expected to be material.

From 2007 through 2009, firefighters also brought hearing loss claims against the Company in New Jersey, Missouri, Maryland and Kings County, New York. All of those cases, however, were dismissed prior to trial, including four cases in the Supreme Court of Kings County, New York that were dismissed upon the Company’s motion in 2008. On appeal, the New York appellate court affirmed the trial court’s dismissal of these cases.

The Company computes earnings per share (“EPS”) in accordance with ASC 260, Earnings per Share, which requires that non-vested restricted stock containing non-forfeitable dividend rights should be treated as participating securities pursuant to the two-class method. Under the two-class method, net income is reduced by the amount of dividends declared in the period for common stock and participating securities. The remaining undistributed earnings are then allocated to common stock and participating securities as if all of the net income for the period had been distributed. The amounts of distributed and undistributed earnings allocated to participating securities for the three and six months ended June 30, 2023 and 2022 were insignificant and did not materially impact the calculation of basic or diluted EPS.

Basic EPS is computed by dividing income available to common stockholders by the weighted average number of shares of common stock and non-vested restricted stock awards outstanding for the period.

Diluted EPS is computed using the weighted average number of shares of common stock and non-vested restricted stock awards outstanding for the year, plus the effect of dilutive potential common shares outstanding during the period. The dilutive effect of common stock equivalents is determined using the more dilutive of the two-class method or alternative methods. The Company uses the treasury stock method to determine the potentially dilutive impact of our employee stock options and restricted stock units, and the contingently issuable method for our performance-based restricted stock unit awards.

For the three and six months ended June 30, 2023, options to purchase 0.1 million and 0.0 million shares, respectively, of the Company’s common stock had an anti-dilutive effect on EPS, and accordingly, were excluded from the calculation of diluted EPS. For the three and six months ended June 30, 2022, options to purchase 0.3 million and 0.2 million shares, respectively, of the Company’s common stock had an anti-dilutive effect on EPS, and accordingly, were excluded from the calculation of diluted EPS.

The following table reconciles Net income to basic and diluted EPS:

			Three Months Ended June 30,												Six Months Ended June 30,
(in millions, except per share data)			2023						2022						2023						2022
Net income			$	40.3					$	33.5					$	67.7					$	54.0
Weighted average shares outstanding – Basic			60.7						60.4						60.7						60.6
Dilutive effect of common stock equivalents			0.7						0.5						0.7						0.5
Weighted average shares outstanding – Diluted			61.4						60.9						61.4						61.1
Earnings per share:
Basic			$	0.66					$	0.55					$	1.12					$	0.89
Diluted			0.66						0.55						1.10						0.88

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Dividends

On February 14, 2023, the Company’s Board of Directors (the “Board”) declared a quarterly cash dividend of $0.09 per common share. The dividend totaled $5.5 million and was distributed on March 31, 2023 to stockholders of record at the close of business on March 17, 2023.

On April 25, 2023, the Board declared a quarterly cash dividend of $0.10 per common share. The dividend totaled $6.1 million and was distributed on June 2, 2023 to stockholders of record at the close of business on May 19, 2023.

During the three and six months ended June 30, 2022, dividends of $5.4 million and $10.9 million, respectively, were paid to stockholders.

On July 24, 2023, the Board declared a quarterly cash dividend of $0.10 per common share payable on September 1, 2023 to stockholders of record at the close of business on August 18, 2023.

Stock Repurchase Program

In March 2020, the Board authorized a stock repurchase program of up to $75.0 million of the Company’s common stock, with the remaining authorization under our previously described repurchase program adopted in 2014 being subject to the March 2020 program. The stock repurchase program is intended primarily to facilitate purchases of Company stock as a means to provide cash returns to stockholders, enhance stockholder returns and manage the Company’s capital structure. Under its stock repurchase program, the Company is authorized to repurchase, from time to time, shares of its outstanding common stock. Stock repurchases by the Company are subject to market conditions and other factors and may be commenced, suspended or discontinued at any time.

No shares were repurchased during the three and six months ended June 30, 2023. During the three months ended June 30, 2022, the Company repurchased 77,011 shares for a total of $2.5 million. During the six months ended June 30, 2022, the Company repurchased 472,381 shares for a total of $16.1 million.

Accumulated Other Comprehensive Loss

The following tables summarize the changes in each component of Accumulated other comprehensive loss, net of tax in the three months ended June 30, 2023 and 2022:

(in millions) (a)			Actuarial Losses						Prior Service Costs						Foreign Currency Translation						Interest Rate Swaps						Total
Balance at April 1, 2023			$	(68.6)					$	(2.0)					$	(14.5)					$	1.7					$	(83.4)
Other comprehensive (loss) income before reclassifications			(0.5)						—						3.2						1.1						3.8
Amounts reclassified from accumulated other comprehensive loss			0.4						—						—						(0.5)						(0.1)
Net current-period other comprehensive (loss) income			(0.1)						—						3.2						0.6						3.7
Balance at June 30, 2023			$	(68.7)					$	(2.0)					$	(11.3)					$	2.3					$	(79.7)

(in millions) (a)			Actuarial Losses						Prior Service Costs						Foreign Currency Translation						Interest Rate Swaps						Total
Balance at April 1, 2022			$	(66.9)					$	(2.4)					$	(5.0)					$	1.6					$	(72.7)
Other comprehensive income (loss) before reclassifications			1.3						0.2						(8.6)						0.1						(7.0)
Amounts reclassified from accumulated other comprehensive loss			0.5						0.1						—						0.1						0.7
Net current-period other comprehensive income (loss)			1.8						0.3						(8.6)						0.2						(6.3)
Balance at June 30, 2022			$	(65.1)					$	(2.1)					$	(13.6)					$	1.8					$	(79.0)

(a)    Amounts in parentheses indicate losses.

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The following tables summarize the changes in each component of Accumulated other comprehensive loss, net of tax in the six months ended June 30, 2023 and 2022:

(in millions) (a)			Actuarial Losses						Prior Service Costs						Foreign Currency Translation						Interest Rate Swaps						Total
Balance at January 1, 2023			$	(68.6)					$	(2.0)					$	(16.0)					$	2.6					$	(84.0)
Other comprehensive (loss) income before reclassifications			(0.9)						—						4.7						0.7						4.5
Amounts reclassified from accumulated other comprehensive loss			0.8						—						—						(1.0)						(0.2)
Net current-period other comprehensive (loss) income			(0.1)						—						4.7						(0.3)						4.3
Balance at June 30, 2023			$	(68.7)					$	(2.0)					$	(11.3)					$	2.3					$	(79.7)

(in millions) (a)			Actuarial Losses						Prior Service Costs						Foreign Currency Translation						Interest Rate Swaps						Total
Balance at January 1, 2022			$	(67.9)					$	(2.4)					$	(3.4)					$	(0.5)					$	(74.2)
Other comprehensive income (loss) before reclassifications			1.8						0.2						(10.2)						2.0						(6.2)
Amounts reclassified from accumulated other comprehensive loss			1.0						0.1						—						0.3						1.4
Net current-period other comprehensive income (loss)			2.8						0.3						(10.2)						2.3						(4.8)
Balance at June 30, 2022			$	(65.1)					$	(2.1)					$	(13.6)					$	1.8					$	(79.0)

(a)    Amounts in parentheses indicate losses.

The following table summarizes the amounts reclassified from Accumulated other comprehensive loss, net of tax, in the three months ended June 30, 2023 and 2022 and the affected line item in the Condensed Consolidated Statements of Operations:

Details about Accumulated Other Comprehensive Loss Components						Amount Reclassified from Accumulated Other Comprehensive Loss												Affected Line Item in Condensed Consolidated Statements of Operations
						2023						2022
(in millions) (a)
Amortization of actuarial losses of defined benefit pension plans						$	(0.6)					$	(0.7)					Other expense (income), net
Amortization of prior service costs of defined benefit pension plans						—						(0.1)						Other expense (income), net
Interest rate swaps						0.7						(0.1)						Interest expense
Total before tax						0.1						(0.9)
Income tax (expense) benefit						—						0.2						Income tax expense
Total reclassifications for the period, net of tax						$	0.1					$	(0.7)

(a)    Amounts in parentheses indicate losses.

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The following table summarizes the amounts reclassified from Accumulated other comprehensive loss, net of tax, in the six months ended June 30, 2023 and 2022 and the affected line item in the Condensed Consolidated Statements of Operations:

Details about Accumulated Other Comprehensive Loss Components						Amount Reclassified from Accumulated Other Comprehensive Loss												Affected Line Item in Condensed Consolidated Statements of Operations
						2023						2022
(in millions) (a)
Amortization of actuarial losses of defined benefit pension plans						$	(1.1)					$	(1.4)					Other expense (income), net
Amortization of prior service costs of defined benefit pension plans						—						(0.1)						Other expense (income), net
Interest rate swaps						1.4						(0.3)						Interest expense
Total before tax						0.3						(1.8)
Income tax (expense) benefit						(0.1)						0.4						Income tax expense
Total reclassifications for the period, net of tax						$	0.2					$	(1.4)

(a)    Amounts in parentheses indicate losses.

The Company has two reportable segments: the Environmental Solutions Group and the Safety and Security Systems Group. Business units are organized under each reportable segment because they share certain characteristics, such as technology, marketing, distribution and product application, which create long-term synergies.

The following tables summarize the Company’s operations by segment, including Net sales, Operating income (loss), and Total assets:

			Three Months Ended June 30,												Six Months Ended June 30,
(in millions)			2023						2022						2023						2022
Net sales:
Environmental Solutions			$	373.0					$	306.3					$	691.8					$	580.5
Safety and Security Systems			69.4						60.4						136.1						116.4
Total net sales			$	442.4					$	366.7					$	827.9					$	696.9
Operating income (loss):
Environmental Solutions			$	56.2					$	39.1					$	93.8					$	65.9
Safety and Security Systems			14.1						10.3						26.2						18.2
Corporate and eliminations			(10.9)						(3.2)						(21.1)						(9.4)
Total operating income			59.4						46.2						98.9						74.7
Interest expense			5.6						1.9						10.3						3.2
Other expense (income), net			1.1						(0.3)						1.2						(0.7)
Income before income taxes			$	52.7					$	44.6					$	87.4					$	72.2

(in millions)			June 30, 2023						December 31, 2022
Total assets:
Environmental Solutions			$	1,334.2					$	1,206.4
Safety and Security Systems			283.6						279.3
Corporate and eliminations			42.9						38.6
Total assets			$	1,660.7					$	1,524.3

---

The Company uses a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. This hierarchy maximizes the use of observable inputs and minimizes the use of unobservable inputs. Observable inputs are developed based on market data obtained from independent sources, while unobservable inputs reflect the Company’s assumptions about valuation based on the best information available in the circumstances. The three levels of inputs are classified as follows:

•Level 1 — quoted prices in active markets for identical assets or liabilities;

•Level 2 — observable inputs, other than quoted prices included in Level 1, such as quoted prices for markets that are not active, or other inputs that are observable or can be corroborated by observable market data; and

•Level 3 — unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities, including certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs.

In determining fair value, the Company uses various valuation approaches within the fair value measurement framework. The valuation methodologies used for the Company’s assets and liabilities measured at fair value and their classification in the valuation hierarchy are summarized below.

Cash Equivalents

Cash equivalents primarily consist of time-based deposits and interest-bearing instruments with maturities of three months or less. The Company classified cash equivalents as Level 1 due to the short-term nature of these instruments and measured the fair value based on quoted prices in active markets for identical assets.

Interest Rate Swaps

As described in Note 5 – Debt, the Company may, from time to time, execute interest rate swaps as a means of fixing the floating interest rate component on a portion of its floating-rate debt. The Company classifies its interest rate swaps as Level 2 due to the use of a discounted cash flow model based on the terms of the contract and the interest rate curve (Level 2 inputs) to calculate the fair value of the swaps.

Contingent Consideration

At June 30, 2023, the Company had contingent obligations to transfer up to $7.5 million, $8.0 million, and C$6.0 million (approximately $4.5 million), to the former owners of Deist Industries, Inc. and certain of its affiliates (collectively, “Deist”), Blasters, and Trackless, respectively, if specified financial results are met over future reporting periods (i.e., an earn-out). The Deist, Blasters, and Trackless acquisitions were completed on December 30, 2021, January 3, 2023, and April 3, 2023, respectively. The Deist and Trackless contingent earn-out payments, if earned, would be due to be paid following the third anniversary of the closing date. The Blasters contingent earn-out payments, if earned, would be due to paid annually, in each of the three years following the anniversary of the closing date. During the six months ended June 30, 2023, the Company paid $0.5 million to settle the contingent consideration obligation due to the former owners of Mark Rite Lines Equipment Company, Inc. (“MRL”), which was acquired on July 1, 2019.

Liabilities for contingent consideration are measured at fair value each reporting period, with the acquisition-date fair value included as part of the consideration transferred. Subsequent changes in fair value are included as a component of Acquisition and integration-related expenses (benefits) on the Condensed Consolidated Statements of Operations.

The Company uses an income approach to value the contingent consideration liability based on the present value of risk-adjusted future cash flows under either a scenario-based or option-pricing method, as appropriate. Due to the lack of relevant observable market data over fair value inputs, such as prospective financial information or probabilities of future events as of June 30, 2023, the Company has classified the contingent consideration liability within Level 3 of the fair value hierarchy outlined in ASC 820, Fair Value Measurements. As further described in Note 2 – Acquisitions, the Company has recognized a preliminary estimate of the fair value of the Blasters and Trackless contingent consideration liabilities as of the applicable acquisition date. Such preliminary estimates are subject to change during the measurement period as the applicable third-party valuations are finalized.

---

The following table summarizes the Company’s assets and liabilities that are measured at fair value on a recurring basis as of June 30, 2023:

			Fair Value Measurement at Reporting Date Using
(in millions)			Level 1						Level 2						Level 3						Total
Assets:
Cash equivalents			$	13.5					$	—					$	—					$	13.5
Interest rate swaps			—						0.6						—						0.6
Liabilities:
Contingent consideration			—						—						10.5						10.5

The following table provides a roll-forward of the fair value of recurring Level 3 fair value measurements in the three months ended June 30, 2023 and 2022:

(in millions)			2023						2022
Contingent consideration liability, at April 1			$	6.0					$	2.7
Issuance of contingent consideration in connection with acquisitions			4.5						—
Contingent consideration liability, at June 30			$	10.5					$	2.7

The following table provides a roll-forward of the fair value of recurring Level 3 fair value measurements in the six months ended June 30, 2023 and 2022:

(in millions)			2023						2022
Contingent consideration liability, at January 1			$	2.7					$	2.7
Issuance of contingent consideration in connection with acquisitions			8.5						—
Settlements of contingent consideration liabilities			(0.5)						—
Total gains included in earnings (a)			(0.2)						—
Contingent consideration liability, at June 30			$	10.5					$	2.7

(a)    Included as a component of acquisition and integration-related expenses on the Condensed Consolidated Statements of Operations.

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v3.23.2

Document and Entity Information	6 Months Ended
	Jun. 30, 2023 shares
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	1-6003
Entity Registrant Name	FEDERAL SIGNAL CORPORATION
Entity Incorporation, State or Country Name	DE
Entity Tax Identification Number	36-1063330
Entity Address, Address Line One	1415 West 22nd Street
Entity Address, City or Town	Oak Brook
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60523
City Area Code	630
Local Phone Number	954-2000
Title of 12(b) Security	Common Stock, par value $1.00 per share
Trading Symbol	FSS
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding	60,992,684
Entity Shell Company	false
Entity Central Index Key	0000277509
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Amendment Flag	false

v3.23.2

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Net sales	$ 442.4	$ 366.7	$ 827.9	$ 696.9
Cost of sales	325.1	276.9	614.8	531.4
Gross profit	117.3	89.8	213.1	165.5
Selling, engineering, general and administrative expenses	53.4	42.1	105.4	85.7
Amortization expense	3.9	3.2	7.5	6.5
Acquisition and integration-related expenses (benefits)	0.6	(1.7)	1.3	(1.4)
Operating income	59.4	46.2	98.9	74.7
Interest expense	5.6	1.9	10.3	3.2
Other expense (income), net	1.1	(0.3)	1.2	(0.7)
Income before income taxes	52.7	44.6	87.4	72.2
Income tax expense	12.4	11.1	19.7	18.2
Net income	$ 40.3	$ 33.5	$ 67.7	$ 54.0
Basic earnings per share:
Earnings per share (usd per share)	$ 0.66	$ 0.55	$ 1.12	$ 0.89
Diluted earnings per share:
Earnings per share (usd per share)	$ 0.66	$ 0.55	$ 1.10	$ 0.88
Weighted average common shares outstanding:
Basic (shares)	60.7	60.4	60.7	60.6
Diluted (shares)	61.4	60.9	61.4	61.1

v3.23.2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 40.3	$ 33.5	$ 67.7	$ 54.0
Other comprehensive income (loss):
Change in foreign currency translation adjustment	3.2	(8.6)	4.7	(10.2)
Change in unrecognized net actuarial loss and prior service cost related to pension benefit plans, net of income tax expense of $0.0, $0.1, $0.0,and $0.5 respectively	(0.1)	2.1	(0.1)	3.1
Change in unrealized gain or loss on interest rate swaps, net of income tax expense (benefit) of $0.2, $0.1, $(0.1) and $0.8, respectively	0.6	0.2	(0.3)	2.3
Total other comprehensive income (loss)	3.7	(6.3)	4.3	(4.8)
Comprehensive income	$ 44.0	$ 27.2	$ 72.0	$ 49.2

v3.23.2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Tax expense on change in unrecognized net actuarial losses and prior service cost related to pension benefit plans	$ 0.0	$ 0.1	$ 0.0	$ 0.5
Tax expense on unrealized net gain on derivatives	$ 0.2	$ 0.1	$ (0.1)	$ 0.8

v3.23.2

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 48.8	$ 47.5
Accounts receivable, net of allowances for doubtful accounts of $2.8 and $2.5, respectively	193.4	173.8
Inventories	339.4	292.7
Prepaid expenses and other current assets	24.4	17.4
Total current assets	606.0	531.4
Properties and equipment, net of accumulated depreciation of $167.2 and $156.4, respectively	189.1	179.3
Rental equipment, net of accumulated depreciation of $49.0 and $45.4, respectively	129.8	109.1
Operating lease right-of-use assets	25.1	24.7
Goodwill	475.4	453.4
Intangible assets, net of accumulated amortization of $63.0 and $55.4, respectively	216.7	208.2
Deferred tax assets	8.4	8.8
Other long-term assets	10.2	9.4
Total assets	1,660.7	1,524.3
Current liabilities:
Current portion of long-term borrowings and finance lease obligations	3.1	1.5
Accounts payable	86.7	72.4
Customer deposits	26.6	25.4
Accrued liabilities:
Compensation and withholding taxes	30.2	31.1
Current operating lease liabilities	7.8	6.9
Other current liabilities	44.0	43.2
Total current liabilities	198.4	180.5
Long-term borrowings and finance lease obligations	406.1	361.5
Long-term operating lease liabilities	18.3	18.5
Long-term pension and other postretirement benefit liabilities	40.3	38.9
Deferred tax liabilities	52.6	51.0
Other long-term liabilities	21.1	13.0
Total liabilities	736.8	663.4
Stockholders’ equity:
Common stock, $1 par value per share, 90.0 shares authorized, 69.9 and 69.5 shares issued, respectively	69.9	69.5
Capital in excess of par value	280.9	271.8
Retained earnings	838.3	782.2
Treasury stock, at cost, 8.9 and 8.8 shares, respectively	(185.5)	(178.6)
Accumulated other comprehensive loss	(79.7)	(84.0)
Total stockholders’ equity	923.9	860.9
Total liabilities and stockholders’ equity	$ 1,660.7	$ 1,524.3

v3.23.2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Millions, $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 2.8	$ 2.5
Properties and equipment, accumulated depreciation	167.2	156.4
Rental Equipment, Accumulated Depreciation	49.0	45.4
Intangible assets, accumulated amortization	$ 63.0	$ 55.4
Common stock, par value (usd per share)	$ 1
Common stock, shares authorized	90.0
Common stock, shares issued	69.9	69.5
Treasury stock, shares	8.9	8.8

v3.23.2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Operating activities:
Net income	$ 67.7	$ 54.0
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	29.8	27.1
Stock-based compensation expense	5.8	5.4
Changes in fair value of contingent consideration	(0.2)	0.0
Amortization of interest rate swap settlement gain	(1.2)	0.0
Deferred income taxes	2.2	3.2
Changes in operating assets and liabilities	(61.1)	(67.3)
Net cash provided by operating activities	43.0	22.4
Investing activities:
Purchases of properties and equipment	(15.7)	(41.5)
Payments for acquisition-related activity, net of cash acquired	(56.0)	(5.9)
Other, net	0.3	1.4
Net cash used for investing activities	(71.4)	(46.0)
Financing activities:
Increase in revolving lines of credit, net	44.7	44.1
Purchases of treasury stock	0.0	(16.1)
Redemptions of common stock to satisfy withholding taxes related to stock-based compensation	(5.4)	(2.5)
Payments for acquisition-related activity	(0.5)	0.0
Cash dividends paid to stockholders	(11.6)	(10.9)
Proceeds from stock-based compensation activity	2.0	0.1
Other, net	0.0	0.2
Net cash provided by financing activities	29.2	14.9
Effects of foreign exchange rate changes on cash and cash equivalents	0.5	(0.6)
Increase (decrease) in cash and cash equivalents	1.3	(9.3)
Cash and cash equivalents at beginning of year	47.5	40.5
Cash and cash equivalents at end of period	$ 48.8	$ 31.2

v3.23.2

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Millions	Total	Common Stock	Capital in Excess of Par Value	Retained Earnings	Treasury Stock, Common	Accumulated Other Comprehensive Loss
Beginning Balance at Dec. 31, 2021	$ 784.0	$ 68.9	$ 256.7	$ 683.6	$ (151.0)	$ (74.2)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	54.0			54.0
Total other comprehensive income (loss)	(4.8)					(4.8)
Cash dividends declared	(10.9)			(10.9)
Stock-based payments:
Stock-based compensation	4.7		4.7
Stock option exercises and other	(0.5)	0.2	1.1		(1.8)
Performance share unit transactions	(1.3)	0.1	(0.1)		(1.3)
Stock repurchase program	(16.1)				(16.1)
Ending Balance at Jun. 30, 2022	809.1	69.2	262.4	726.7	(170.2)	(79.0)
Beginning Balance at Mar. 31, 2022	787.8	69.1	259.3	698.6	(166.5)	(72.7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	33.5			33.5
Total other comprehensive income (loss)	(6.3)					(6.3)
Cash dividends declared	(5.4)			(5.4)
Stock-based payments:
Stock-based compensation	2.3		2.3
Stock option exercises and other	(0.3)	0.1	0.8		(1.2)
Stock repurchase program	(2.5)				(2.5)
Ending Balance at Jun. 30, 2022	809.1	69.2	262.4	726.7	(170.2)	(79.0)
Beginning Balance at Dec. 31, 2022	860.9	69.5	271.8	782.2	(178.6)	(84.0)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	67.7			67.7
Total other comprehensive income (loss)	4.3					4.3
Cash dividends declared	(11.6)			(11.6)
Stock-based payments:
Stock-based compensation	5.1		5.1
Stock option exercises and other	0.8	0.3	4.1		(3.6)
Performance share unit transactions	(3.3)	0.1	(0.1)		(3.3)
Ending Balance at Jun. 30, 2023	923.9	69.9	280.9	838.3	(185.5)	(79.7)
Beginning Balance at Mar. 31, 2023	882.0	69.7	274.7	804.1	(183.1)	(83.4)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	40.3			40.3
Total other comprehensive income (loss)	3.7					3.7
Cash dividends declared	(6.1)			(6.1)
Stock-based payments:
Stock-based compensation	3.1		3.1
Stock option exercises and other	0.9	0.2	3.1		(2.4)
Ending Balance at Jun. 30, 2023	$ 923.9	$ 69.9	$ 280.9	$ 838.3	$ (185.5)	$ (79.7)

v3.23.2

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended			6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Stockholders' Equity [Abstract]
Cash dividends declared per common share (usd per share)	$ 0.10	$ 0.09	$ 0.09	$ 0.19	$ 0.18

v3.23.2

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Organization and Description of the Business Federal Signal Corporation was founded in 1901 and was reincorporated as a Delaware corporation in 1969. References herein to the “Company,” “we,” “our” or “us” refer collectively to Federal Signal Corporation and its subsidiaries. Products manufactured and services rendered by the Company are divided into two reportable segments: Environmental Solutions Group and Safety and Security Systems Group. The individual operating businesses are organized as such because they share certain characteristics, including technology, marketing, distribution and product application, which create long-term synergies. These segments are discussed in Note 12 – Segment Information. Basis of Presentation and Consolidation The accompanying unaudited condensed consolidated financial statements represent the consolidation of Federal Signal Corporation and its subsidiaries included herein and have been prepared by the Company pursuant to the rules and regulations of the United States (“U.S.”) Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures presented herein are adequate to ensure the information presented is not misleading. Except as otherwise noted, these condensed consolidated financial statements have been prepared in accordance with the Company’s accounting policies described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022, and should be read in conjunction with those consolidated financial statements and the notes thereto. These condensed consolidated financial statements include all normal and recurring adjustments that we considered necessary to present a fair statement of our results of operations, financial condition and cash flow. Intercompany balances and transactions have been eliminated in consolidation. The results reported in these condensed consolidated financial statements should not be regarded as necessarily indicative of results that may be expected for the entire year, which may differ materially due to, among other things, the risk factors described under Part I, Item 1A, Risk Factors, of the Company’s Annual Report on Form 10-K for the year ended December 31, 2022, which was filed with the SEC on March 1, 2023. While we label our quarterly information using a calendar convention whereby our first, second and third quarters are labeled as ending on March 31, June 30 and September 30, respectively, it is our longstanding practice to establish interim quarterly closing dates based on a 13-week period ending on a Saturday, with our fiscal year ending on December 31. The effects of this practice are not material and exist only within a reporting year. Recent Accounting Pronouncements and Accounting Changes There are no new accounting pronouncements issued, but not yet adopted, that are expected to have a material impact on the Company’s results of operations, financial position or cash flow. Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect (i) the reported amounts of assets and liabilities, (ii) the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and (iii) the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant Accounting Policies There have been no changes to the Company’s significant accounting policies as disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022.

v3.23.2

Acquisitions	6 Months Ended
	Jun. 30, 2023
Business Combinations [Abstract]
Acquisitions	ACQUISITIONS Acquisitions Completed in 2023 Acquisition of Trackless On April 3, 2023, the Company completed the acquisition of substantially all the assets and operations of Trackless Vehicles Limited and Trackless Vehicles Asset Corp, including the wholly-owned subsidiary Work Equipment Ltd. (collectively, “Trackless”), a leading Canadian manufacturer of multi-purpose, off-road multi-purpose tractors and attachments. The Company expects that the Trackless acquisition will further bolster its position as an industry leading diversified industrial manufacturer of specialized vehicles for maintenance and infrastructure markets with leading brands of premium, value-adding products, and a strong supporting aftermarket platform. The assets and liabilities of Trackless have been consolidated into the Company’s Condensed Consolidated Balance Sheet as of June 30, 2023, and the post-acquisition results of operations have been included in the Condensed Consolidated Statements of Operations, within the Environmental Solutions Group. The initial cash consideration paid by the Company to acquire Trackless was C$57.3 million (approximately $42.6 million), inclusive of certain preliminary closing adjustments, and was funded through existing cash and borrowings under the Company’s credit agreement. In addition, there is a contingent earn-out payment of up to C$6.0 million (approximately $4.5 million), based upon the achievement of certain financial targets over a specified performance period. Any additional closing adjustments are expected to be finalized before the end of 2023. The acquisition is being accounted for in accordance with Accounting Standards Codification (“ASC”) 805, Business Combinations. Accordingly, the total purchase price has been allocated on a preliminary basis to assets acquired and liabilities assumed in connection with the acquisition based on their estimated fair values as of the completion of the acquisition. A single estimate of fair value results from a complex series of judgments about future events and uncertainties and relies heavily on estimates and assumptions. The Company’s judgments used to determine the estimated fair value assigned to each class of assets acquired and liabilities assumed, as well as asset lives, can materially impact the Company’s results of operations. Due to the proximity of the date of acquisition to the date of issuance of the condensed consolidated financial statements, the Company’s purchase price allocation as of June 30, 2023 reflects various provisional estimates that were based on the information that was available as of the acquisition date and the filing date of this Form 10-Q. The Company believes that information provides a reasonable basis for estimating the fair values of assets acquired and liabilities assumed; however, the determination of those fair values is not yet finalized. Thus, the preliminary measurements of fair value set forth in the table below are subject to change during the measurement period as valuations are finalized. The Company expects to finalize the valuation and complete the purchase price allocation as soon as practicable. The following table summarizes the preliminary fair value of assets acquired and liabilities assumed as of the acquisition date: (in millions) Purchase price, inclusive of preliminary closing adjustments $ 42.6  Estimated fair value of additional consideration (a) 4.5  Total consideration 47.1  Accounts receivable 4.7  Inventories 14.3  Prepaid expenses and other current assets 0.1  Rental equipment 1.6  Properties and equipment 4.4  Customer relationships (b) 10.5  Trade names (c) 2.8  Other intangible assets 1.3  Accounts payable (1.5) Accrued liabilities (0.5) Net assets acquired 37.7 Goodwill (d) $ 9.4  (a)    Represents the preliminary estimated fair value of the contingent earn-out payment as of the acquisition date, which is included in Other long-term liabilities on the Condensed Consolidated Balance Sheets. See Note 13 – Fair Value Measurements for discussion of the methodology used to determine the fair value of the contingent earn-out payment. (b)    Represents the preliminary fair value assigned to customer relationships, which are considered to be definite-lived intangible assets, with a preliminary estimated useful life of approximately 12 years. (c)    Represents the preliminary fair value assigned to trade names, which are considered to be indefinite-lived intangible assets. (d)    Goodwill, which is primarily tax-deductible, has been allocated to the Environmental Solutions Group on the basis that the synergies identified will primarily benefit this segment. In the period between the April 3, 2023 closing date and June 30, 2023, Trackless generated $10.9 million of net sales and $2.7 million of operating income, before elimination of intercompany transactions. The acquisition was not, and would not have been, material to the Company’s net sales or results of operations for the three and six months ended June 30, 2022. Accordingly, the Company’s consolidated results do not differ materially from historical performance as a result of the acquisition, and therefore, unaudited pro-forma results are not presented. Acquisition of Blasters On January 3, 2023, the Company completed the acquisition of substantially all the assets and operations of Blasters, Inc. and Blasters Technologies, LLC (collectively, “Blasters”), a leading U.S. manufacturer of truck-mounted waterblasting equipment. The Company expects that the Blasters acquisition will further bolster its position as an industry leading diversified industrial manufacturer of specialized vehicles for maintenance and infrastructure markets with leading brands of premium, value-adding products, and a strong supporting aftermarket platform. The assets and liabilities of Blasters have been consolidated into the Company’s Condensed Consolidated Balance Sheet as of June 30, 2023, and the post-acquisition results of operations have been included in the Condensed Consolidated Statements of Operations, within the Environmental Solutions Group. The initial cash consideration paid by the Company to acquire Blasters was $13.2 million, inclusive of certain closing adjustments, of which $0.2 million was received in July 2023. In addition, there is a contingent earn-out payment of up to $8.0 million, based upon the achievement of certain financial targets over a specified performance period. The purchase price was funded through existing cash and borrowings under the Company’s credit agreement. The acquisition is being accounted for in accordance with ASC 805, Business Combinations. The Company’s purchase price allocation as of June 30, 2023 reflects various provisional estimates that were based on the information that was available as of the acquisition date and the filing date of this Form 10-Q. The Company believes that information provides a reasonable basis for estimating the fair values of assets acquired and liabilities assumed; however, the determination of those fair values is not yet finalized. Thus, the preliminary measurements of fair value set forth in the table below are subject to change during the measurement period as valuations are finalized. The Company expects to finalize the valuation and complete the purchase price allocation as soon as practicable. The following table summarizes the preliminary fair value of assets acquired and liabilities assumed as of the acquisition date: (in millions) Purchase price, inclusive of closing adjustments $ 13.2  Estimated fair value of additional consideration (a) 4.0  Total consideration 17.2  Accounts receivable 0.7  Inventories 4.6  Prepaid expenses and other current assets 0.1  Properties and equipment 1.1  Operating lease right-of-use assets (b) 1.1  Customer relationships (c) 5.3  Trade names (d) 2.6  Other intangible assets 0.3  Operating lease liabilities (b) (1.1) Accounts payable (0.9) Accrued liabilities (0.3) Customer deposits (0.5) Finance lease obligations (0.1) Net assets acquired 12.9 Goodwill (e) $ 4.3  (a)    Represents the preliminary estimated fair value of the contingent earn-out payment as of the acquisition date, of which $1.0 million is included in Other current liabilities and $3.0 million is included in Other long-term liabilities on the Condensed Consolidated Balance Sheets. See Note 13 – Fair Value Measurements for discussion of the methodology used to determine the fair value of the contingent earn-out payment. (b)    In connection with the acquisition, the Company entered into a lease agreement for the Blasters facility, which is owned by affiliates of the sellers. The related-party lease contains a market-based annual rent of $0.2 million, an initial lease term of five years, and options to renew. (c)    Represents the preliminary fair value assigned to customer relationships, which are considered to be definite-lived intangible assets, with a preliminary estimated useful life of approximately 12 years. (d)    Represents the preliminary fair value assigned to trade names, which are considered to be indefinite-lived intangible assets. (e)    Goodwill, which is tax-deductible, has been allocated to the Environmental Solutions Group on the basis that the synergies identified will primarily benefit this segment. In the period between the January 3, 2023 closing date and June 30, 2023, Blasters generated $10.3 million of net sales and $1.0 million of operating income. The acquisition was not, and would not have been, material to the Company’s net sales or results of operations for the three and six months ended June 30, 2022. Accordingly, the Company’s consolidated results do not differ materially from historical performance as a result of the acquisition, and therefore, unaudited pro-forma results are not presented. Acquisitions Completed in 2022 On October 3, 2022, the Company completed the acquisition of substantially all the assets and operations of TowHaul Corporation (“TowHaul”). TowHaul is a leading manufacturer of off-road towing and hauling equipment. The TowHaul acquisition bolstered the Company’s position as an industry leading diversified industrial manufacturer of specialized vehicles for maintenance and infrastructure markets with leading brands of premium, value-adding products, and a strong supporting aftermarket platform. The cash consideration paid by the Company to acquire TowHaul was $43.3 million, which was funded through existing cash and borrowings under the Company’s credit facility. The acquisition is being accounted for in accordance with ASC 805, Business Combinations. The Company’s purchase price allocation as of June 30, 2023 reflects various provisional estimates that were based on the information that was available as of the acquisition date and the filing date of this Form 10-Q. The Company believes that information provides a reasonable basis for estimating the fair values of assets acquired and liabilities assumed; however, the determination of those fair values is not yet finalized. Thus, the preliminary measurements of fair value set forth in the table below are subject to change during the measurement period as valuations are finalized. During the three months ended June 30, 2023, the Company recognized measurement period adjustments, which primarily resulted from obtaining a third-party valuation of acquired intangible assets, that resulted in a $7.2 million increase to the carrying value of Goodwill from the $12.9 million previously recorded as of December 31, 2022, with a corresponding reduction in the carrying value of acquired intangible assets. The measurement period adjustments did not have a material impact on the Company’s Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2023. The Company expects to finalize the valuation and complete the purchase price allocation as soon as practicable. The following table summarizes the preliminary fair value of assets acquired and liabilities assumed as of the acquisition date: (in millions) Purchase price, inclusive of closing adjustments $ 43.3  Total consideration 43.3  Accounts receivable 1.5  Inventories 4.7  Properties and equipment 6.4  Customer relationships (a) 6.9  Trade names (b) 5.7  Other intangible assets 1.0  Accounts payable (0.1) Accrued liabilities (0.5) Customer deposits (2.4) Net assets acquired 23.2  Goodwill (c) $ 20.1  (a)    Represents the preliminary fair value assigned to customer relationships, which are considered to be definite-lived intangible assets, with a preliminary estimated useful life of approximately 6 years. (b)    Represents the preliminary fair value assigned to trade names, which are considered to be indefinite-lived intangible assets. (c)    Goodwill, which is tax-deductible, has been allocated to the Environmental Solutions Group on the basis that the synergies identified will primarily benefit this segment.

v3.23.2

Revenue Recognition	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue Recognition	REVENUE RECOGNITION The following table presents the Company’s Net sales disaggregated by geographic region, based on the location of the end customer, and by major product line: Three Months Ended June 30, Six Months Ended June 30, (in millions) 2023 2022 2023 2022 Geographic Region: U.S. $ 338.9  $ 299.8  $ 648.0  $ 564.2  Canada 69.4  44.0  113.3  86.3  Europe/Other 34.1  22.9  66.6  46.4  Total net sales $ 442.4  $ 366.7  $ 827.9  $ 696.9  Major Product Line: Environmental Solutions Vehicles and equipment (a) $ 285.0  $ 235.8  $ 530.3  $ 453.2  Parts 59.6  45.1  114.4  85.9  Rental income (b) 16.9  16.1  27.9  25.8  Other (c) 11.5  9.3  19.2  15.6  Total 373.0  306.3  691.8  580.5  Safety and Security Systems Public safety and security equipment 42.4  37.5  82.6  73.6  Industrial signaling equipment 18.7  15.1  37.3  29.3  Warning systems 8.3  7.8  16.2  13.5  Total 69.4  60.4  136.1  116.4  Total net sales $ 442.4  $ 366.7  $ 827.9  $ 696.9  (a)    Includes net sales from the sale of new and used vehicles and equipment, including sales of rental equipment. (b)    Represents income from vehicle and equipment lease arrangements with customers. (c)    Primarily includes revenues from services, such as maintenance and repair work, and the sale of extended warranty contracts. Contract Balances The Company recognizes contract liabilities when cash payments, such as customer deposits, are received in advance of the Company’s satisfaction of the related performance obligations. Contract liabilities are recognized as Net sales when the related performance obligations are satisfied, which generally occurs within three to six months of the cash receipt. Contract liability balances are not materially impacted by any other factors. The Company’s contract liabilities were $29.8 million and $28.9 million as of June 30, 2023 and December 31, 2022, respectively. Contract assets, such as unbilled receivables, were not material as of any of the periods presented herein.

v3.23.2

Inventories	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
Inventories	INVENTORIES The following table summarizes the components of Inventories: (in millions) June 30, 2023 December 31, 2022 Finished goods $ 131.4  $ 97.5  Raw materials 173.6  164.3  Work in process 34.4  30.9  Total inventories (a) $ 339.4  $ 292.7  (a) Amounts at June 30, 2023 include inventories acquired in the acquisitions of Blasters and Trackless - See Note 2 - Acquisitions.

v3.23.2

Debt	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Debt Disclosure	DEBT The following table summarizes the components of Long-term borrowings and finance lease obligations: (in millions) June 30, 2023 December 31, 2022 2022 Credit Agreement (a) $ 407.4  $ 361.0  Finance lease obligations 1.8  2.0  Total borrowings and finance lease obligations, including current portion 409.2  363.0  Less: Current borrowings 2.4  0.8  Less: Current finance lease obligations 0.7  0.7  Total long-term borrowings and finance lease obligations $ 406.1  $ 361.5  (a)     Defined as the Third Amended and Restated Credit Agreement, dated October 21, 2022, as amended. As more fully described within Note 13 – Fair Value Measurements, the Company uses a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. The fair value of the Company’s borrowings and finance lease obligations is based on interest rates that we believe are currently available to us for issuance of debt with similar terms and remaining maturities (Level 2 input). The carrying amounts of the Company’s borrowings and finance lease obligations approximate their fair values as of June 30, 2023 and December 31, 2022. The 2022 Credit Agreement is a senior secured credit facility which provides the Company and certain of its foreign subsidiaries access to an aggregate principal amount of $800 million, consisting of (i) a revolving credit facility in an amount up to $675 million (the “Revolver”) and (ii) a term loan facility in an amount up to $125 million. Borrowings under the 2022 Credit Agreement bear interest, at the Company’s option, at a base rate or an Adjusted Term Secured Overnight Financing Rate (“SOFR”), Adjusted Eurocurrency Rate or Adjusted Daily Simple SONIA Rate (as each is defined in the 2022 Credit Agreement), plus, in each case, an applicable margin. The applicable margin ranges from zero to 0.75% for base rate borrowings and 1.00% to 1.75% for Adjusted Term SOFR, Adjusted Eurocurrency Rate or Adjusted Daily Simple SONIA Rate borrowings. The Company must also pay a commitment fee to the lenders ranging between 0.10% to 0.25% per annum on the unused portion of the Revolver along with other standard fees. Applicable margin, issuance fees and other customary expenses are payable on outstanding letters of credit. The Company is subject to certain net leverage ratio and interest coverage ratio financial covenants under the 2022 Credit Agreement that are measured at each fiscal quarter-end. The Company was in compliance with all such covenants as of June 30, 2023. As of June 30, 2023, there was $407.4 million of cash drawn and $11.2 million of undrawn letters of credit under the 2022 Credit Agreement, with $381.4 million of net availability for borrowings. As of December 31, 2022, there was $361.0 million cash drawn and $11.2 million of undrawn letters of credit under the 2022 Credit Agreement, with $427.8 million of net availability for borrowings. The following table summarizes the gross borrowings and gross payments under the Company’s credit facilities: Six Months Ended June 30, (in millions) 2023 2022 Gross borrowings $ 115.7  $ 67.0  Gross payments 71.0  22.9  Interest Rate Swaps On October 21, 2022, the Company entered into an interest rate swap (the “2022 Swap”) with a notional amount of $75.0 million, as a means of fixing the floating interest rate component on $75.0 million of its variable-rate debt. The 2022 Swap is designated as a cash flow hedge, with an original maturity date of October 31, 2025. As a result of the application of hedge accounting treatment, all unrealized gains and losses related to the derivative instrument are recorded in Accumulated other comprehensive loss and are reclassified into operations in the same period in which the hedged transaction affects earnings. Hedge effectiveness is assessed quarterly. The Company does not use derivative instruments for trading or speculative purposes. The fair value of the Company’s interest rate swaps is derived from a discounted cash flow analysis based on the terms of the contract and the interest rate curve (Level 2 inputs) and measured on a recurring basis in our Condensed Consolidated Balance Sheets. At June 30, 2023 and December 31, 2022, the fair value of the 2022 Swap was an asset of $0.6 million and a liability of $0.3 million, which were included in Other long-term assets and Other long-term liabilities on the Condensed Consolidated Balance Sheets, respectively. During the three and six months ended June 30, 2023, unrealized pre-tax gains of $1.4 million and $0.9 million, respectively, were recorded in Accumulated other comprehensive loss. During the three and six months ended June 30, 2022, unrealized pre-tax gains $0.2 million and $3.1 million, respectively, were recorded in Accumulated other comprehensive loss. No ineffectiveness was recorded in either period. In connection with entering into the 2022 Credit Agreement in October 2022, the Company terminated an interest rate swap initially entered into in 2019, receiving proceeds of $4.3 million upon settlement. The settlement gain was recorded in Accumulated other comprehensive loss and is being amortized into earnings ratably through the original maturity date of July 30, 2024. During the three and six months ended June 30, 2023, the Company recognized non-cash settlement gains of $0.6 million and $1.2 million, respectively, as a component of Interest expense on the Condensed Consolidated Statements of Operations. At June 30, 2023 and December 31, 2022, an unrealized settlement gain of $2.6 million and $3.8 million, respectively, was included in Accumulated other comprehensive loss on the Condensed Consolidated Balance Sheets. On July 11, 2023, the Company entered into an additional interest rate swap (the “2023 Swap”) with a notional amount of $75.0 million, as a means of fixing the floating interest rate component on $75.0 million of its variable-rate debt. The 2023 Swap is designated as a cash flow hedge, with an original maturity date of August 1, 2025.

v3.23.2

Goodwill and Other Intangibles Assets	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	GOODWILL AND OTHER INTANGIBLE ASSETS The following table summarizes the carrying amount of goodwill, and the changes in the carrying amount of goodwill in the six months ended June 30, 2023, by segment: (in millions) Environmental Solutions Safety & Security Systems Total Balance at January 1, 2023 $ 343.8  $ 109.6  $ 453.4  Acquisitions, including measurement period adjustments 20.9  —  20.9  Translation adjustments 0.3  0.8  1.1  Balance at June 30, 2023 $ 365.0  $ 110.4  $ 475.4  The following table summarizes the gross carrying amount and accumulated amortization of intangible assets for each major class of intangible assets:   June 30, 2023 December 31, 2022 (in millions) Gross Carrying Value Accumulated Amortization Net Carrying Value Gross Carrying Value Accumulated Amortization Net Carrying Value Definite-lived intangible assets: Customer relationships (a) $ 162.6  $ (59.1) $ 103.5  $ 153.7  $ (52.0) $ 101.7  Other (a) 8.3  (3.9) 4.4  5.7  (3.4) 2.3  Total definite-lived intangible assets 170.9  (63.0) 107.9  159.4  (55.4) 104.0  Indefinite-lived intangible assets: Trade names 104.5  —  104.5  99.9  —  99.9  Other 4.3  —  4.3  4.3  —  4.3  Total indefinite-lived intangible assets 108.8  —  108.8  104.2  —  104.2  Total intangible assets $ 279.7  $ (63.0) $ 216.7  $ 263.6  $ (55.4) $ 208.2  (a)    Average useful life of customer relationships and other definite-lived intangible assets are estimated to be approximately 12 years and 6 years, respectively. The average useful life across all definite-lived intangible assets is estimated to be approximately 11 years. The table above includes preliminary estimates of the fair value and useful lives of certain definite and indefinite-lived intangible assets related to the acquisitions of Trackless, Blasters, and TowHaul, which were completed during the second quarter of 2023, the first quarter of 2023, and the fourth quarter of 2022, respectively. As further described in Note 2 – Acquisitions, the preliminary measurements of fair value included in the table above are subject to change during the measurement period as the applicable third-party valuations are finalized. Amortization expense for the three months ended June 30, 2023 and 2022 was $3.9 million and $3.2 million, respectively. Amortization expense for the six months ended June 30, 2023 and 2022 was $7.5 million and $6.5 million, respectively. The Company currently estimates that aggregate amortization expense will be approximately $8.0 million for the remainder of 2023, $15.9 million in 2024, $15.9 million in 2025, $15.7 million in 2026, $14.5 million in 2027, and $37.9 million thereafter. Actual amounts of amortization may differ from estimated amounts due to changes in foreign currency rates, measurement period adjustments for the Trackless, Blasters, and TowHaul acquisitions, impairment of intangible assets and other events.

v3.23.2

Income Taxes	3 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES For the three months ended June 30, 2023, the Company recognized income tax expense of $12.4 million, resulting in an effective tax rate of 23.5%. For the three months ended June 30, 2022, the Company recognized income tax expense of $11.1 million, resulting in an effective tax rate of 24.9%. The Company’s effective tax rate in the current-year quarter was lower than the prior-year quarter, primarily due to a $0.7 million increase in excess tax benefits associated with stock-based compensation activity. For the six months ended June 30, 2023, the Company recognized income tax expense of $19.7 million, resulting in an effective tax rate of 22.5%. For the six months ended June 30, 2022, the Company recognized income tax expense of $18.2 million, resulting in an effective tax rate of 25.2%. The Company’s effective tax rate in the current-year period was lower than the prior-year period, primarily due to a $1.6 million increase in excess tax benefits associated with stock-based compensation activity and a $0.5 million benefit associated with changes in tax reserves. During the six months ended June 30, 2023, the Company filed amended U.S. federal income tax returns for the 2015 through 2018 tax years to claim a worthless stock deduction. The aggregate refund claim associated with the worthless stock deduction was $13.2 million, including interest of $1.4 million, and the Company recognized an offsetting increase to its liability for unrecognized tax benefits.

v3.23.2

Pensions	6 Months Ended
	Jun. 30, 2023
Retirement Benefits [Abstract]
Pensions	PENSIONS The following table summarizes the components of Net periodic pension (benefit) expense:    U.S. Benefit Plan Non-U.S. Benefit Plan   Three Months Ended June 30, Six Months Ended June 30, Three Months Ended June 30, Six Months Ended June 30, (in millions) 2023 2022 2023 2022 2023 2022 2023 2022 Interest cost $ 1.5  $ 1.0  3.0  2.1  $ 0.4  $ 0.2  0.8  0.4  Amortization of actuarial loss 0.3  0.6  0.6  1.1  0.3  0.1  0.5  0.3  Amortization of prior service cost —  —  —  —  —  0.1  —  0.1  Expected return on plan assets (1.9) (1.8) (3.8) (3.5) (0.5) (0.5) (1.0) (1.0) Net periodic pension (benefit) expense $ (0.1) $ (0.2) $ (0.2) $ (0.3) $ 0.2  $ (0.1) $ 0.3  $ (0.2) The items that comprise Net periodic pension (benefit) expense, are included as a component of Other expense (income), net on the Condensed Consolidated Statements of Operations.

v3.23.2

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure	COMMITMENTS AND CONTINGENCIES Financial Commitments The Company provides indemnifications and other guarantees in the ordinary course of business, the terms of which range in duration and often are not explicitly defined. Specifically, the Company is occasionally required to provide letters of credit and bid and performance bonds to various customers, principally to act as security for retention levels related to casualty insurance policies and to guarantee the performance of subsidiaries that engage in export and domestic transactions. At June 30, 2023, the Company had outstanding performance and financial standby letters of credit, as well as outstanding bid and performance bonds, aggregating to $25.0 million. If any such letters of credit or bonds are called, the Company would be obligated to reimburse the issuer of the letter of credit or bond. The Company believes the likelihood of any currently outstanding letter of credit or bond being called is remote. The Company has transactions involving the sale of equipment to certain of its customers which include (i) guarantees to repurchase the equipment for a fixed price at a future date and (ii) guarantees to repurchase the equipment from the third-party lender in the event of default by the customer. As of June 30, 2023, both the single year and maximum potential cash payments the Company could be required to make to repurchase equipment under these agreements amounted to $1.9 million. The Company’s risk under these repurchase arrangements would be partially mitigated by the value of the products repurchased as part of the transaction. Historical cash requirements and losses associated with these obligations have not been significant but could increase if customer defaults exceed current expectations. The Company has certain lease agreements for facilities owned by affiliates which include provisions requiring the Company to guarantee any remaining lease payments in the event of default. As of June 30, 2023, the total amount of future payments guaranteed under these agreements was approximately $1.0 million. The Company believes the likelihood of defaulting on these leases is remote. Product Warranties The Company issues product performance warranties to customers with the sale of its products. The specific terms and conditions of these warranties vary depending upon the product sold and country in which the Company does business, with warranty periods generally ranging from one to five years. The Company estimates the costs that may be incurred under its basic limited warranty and records a liability in the amount of such costs at the time the sale of the related product is recognized. Factors that affect the Company’s warranty liability include (i) the number of units under warranty, (ii) historical and anticipated rates of warranty claims and (iii) costs per claim. The Company periodically assesses the adequacy of its recorded warranty liabilities and adjusts the amounts as necessary. The following table summarizes the changes in the Company’s warranty liabilities during the six months ended June 30, 2023 and 2022: (in millions) 2023 2022 Balance at January 1 $ 9.3  $ 9.7  Provisions to expense 3.8  3.5  Acquisitions 0.1  —  Payments (3.8) (3.9) Balance at June 30 $ 9.4  $ 9.3  Legal Proceedings The Company is subject to various claims, including pending and possible legal actions for product liability and other damages, and other matters arising in the ordinary course of the Company’s business. On a quarterly basis, the Company reviews uninsured material legal claims against the Company and accrues for the costs of such claims as appropriate in the exercise of management’s best judgment and experience. However, due to a lack of factual information available to the Company about a claim, or the procedural stage of a claim, it may not be possible for the Company to reasonably assess either the probability of a favorable or unfavorable outcome of the claim or to reasonably estimate the amount of loss should there be an unfavorable outcome. Therefore, for many claims, the Company cannot reasonably estimate a range of loss. The Company believes, based on current knowledge and after consultation with counsel, that the outcome of such claims and actions will not have a material adverse effect on the Company’s results of operations or financial condition. However, in the event of unexpected future developments, it is possible that the ultimate resolution of such matters, if unfavorable, could have a material adverse effect on the Company’s results of operations, financial condition or cash flow. Hearing Loss Litigation The Company has been sued for monetary damages by firefighters who claim that exposure to the Company’s sirens has impaired their hearing and that the sirens are therefore defective. There were 33 cases filed during the period of 1999 through 2004, involving a total of 2,443 plaintiffs, in the Circuit Court of Cook County, Illinois. These cases involved more than 1,800 firefighter plaintiffs from locations outside of Chicago. In 2009, six additional cases were filed in Cook County, involving 299 Pennsylvania firefighter plaintiffs. During 2013, another case was filed in Cook County involving 74 Pennsylvania firefighter plaintiffs. The trial of the first 27 of these plaintiffs’ claims occurred in 2008, whereby a Cook County jury returned a unanimous verdict in favor of the Company. An additional 40 Chicago firefighter plaintiffs were selected for trial in 2009. Plaintiffs’ counsel later moved to reduce the number of plaintiffs from 40 to nine. The trial for these nine plaintiffs concluded with a verdict against the Company and for the plaintiffs in varying amounts totaling $0.4 million. The Company appealed this verdict. On September 13, 2012, the Illinois Appellate Court rejected this appeal. The Company thereafter filed a petition for rehearing with the Illinois Appellate Court, which was denied on February 7, 2013. The Company sought further review by filing a petition for leave to appeal with the Illinois Supreme Court on March 14, 2013. On May 29, 2013, the Illinois Supreme Court issued a summary order declining to accept review of this case. On July 1, 2013, the Company satisfied the judgments entered for these plaintiffs, which resulted in final dismissal of these cases. A third consolidated trial involving eight Chicago firefighter plaintiffs occurred during November 2011. The jury returned a unanimous verdict in favor of the Company at the conclusion of this trial. Following this trial, on March 12, 2012 the trial court entered an order certifying a class of the remaining Chicago Fire Department firefighter plaintiffs for trial on the sole issue of whether the Company’s sirens were defective and unreasonably dangerous. The Company petitioned the Illinois Appellate Court for interlocutory appeal of this ruling. On May 17, 2012, the Illinois Appellate Court accepted the Company’s petition. On June 8, 2012, plaintiffs moved to dismiss the appeal, agreeing with the Company that the trial court had erred in certifying a class action trial in this matter. Pursuant to plaintiffs’ motion, the Illinois Appellate Court reversed the trial court’s certification order. Thereafter, the trial court scheduled a fourth consolidated trial involving three firefighter plaintiffs, which began in December 2012. Prior to the start of this trial, the claims of two of the three firefighter plaintiffs were dismissed. On December 17, 2012, the jury entered a complete defense verdict for the Company. Following this defense verdict, plaintiffs again moved to certify a class of Chicago Fire Department plaintiffs for trial on the sole issue of whether the Company’s sirens were defective and unreasonably dangerous. Over the Company’s objection, the trial court granted plaintiffs’ motion for class certification on March 11, 2013 and scheduled a class action trial to begin on June 10, 2013. The Company filed a petition for review with the Illinois Appellate Court on March 29, 2013 seeking reversal of the class certification order. On June 25, 2014, a unanimous three-judge panel of the First District Illinois Appellate Court issued its opinion reversing the class certification order of the trial court. Specifically, the Appellate Court determined that the trial court’s ruling failed to satisfy the class-action requirements that the common issues of the firefighters’ claims predominate over the individual issues and that there is an adequate representative for the class. During a status hearing on October 8, 2014, plaintiffs represented to the Court that they would again seek to certify a class of firefighters on the issue of whether the Company’s sirens were defective and unreasonably dangerous. On January 12, 2015, plaintiffs filed motions to amend their complaints to add class action allegations with respect to Chicago firefighter plaintiffs, as well as the approximately 1,800 firefighter plaintiffs from locations outside of Chicago. On March 11, 2015, the trial court granted plaintiffs’ motions to amend their complaints. On April 24, 2015, the cases were transferred to Cook County chancery court to decide the class certification issues. On March 23, 2018, plaintiffs filed a motion to certify as a class all firefighters from the Chicago Fire Department who have filed lawsuits in this matter. The Company objected to certification and the parties engaged in discovery and other matters related to this motion. Thereafter, on December 20, 2021, the parties executed a settlement agreement to resolve claims of approximately 462 firefighters still involved in the Cook County litigation, as well as the DuPage County litigation discussed below. Under the terms of the settlement agreement, the Company agreed to pay a lump sum of $0.2 million to resolve the claims of these firefighters. The estimated settlement amount was accrued by the Company. The Company agreed to pay this lump sum amount based upon its assessment of firefighters who meet minimal bilateral hearing loss standards, which is a subset of the larger group referenced above. The settlement agreement did not require the payment of any attorney fees by the Company. The settlement agreement also provided that plaintiffs’ attorney would withdraw from representing firefighters who do not agree to the settlement. The Company had discretion to void the settlement agreement if less than 93% of these firefighters agreed to settle their claims; the settlement agreement would also be voided if less than 70% of eligible firefighters agreed to the settlement. The settlement agreement was subject to review and approval by the Court. In July 2022, the Company issued the $0.2 million settlement payment for eligible plaintiffs who submitted a release. The claims of all other eligible plaintiffs were dismissed for want of prosecution on August 5, 2022. The Company also filed motions to dismiss cases involving firefighters who worked for fire departments located outside of the State of Illinois based on improper venue. On February 24, 2017, the Circuit Court of Cook County entered orders dismissing the cases of 1,770 such firefighter plaintiffs from the jurisdiction of the State of Illinois. Pursuant to these orders, these plaintiffs had six months thereafter to refile their cases in jurisdictions where these firefighters are located. Prior to this six-month deadline, attorneys representing some of these plaintiffs contacted the Company regarding possible settlement of their cases. During the year ended December 31, 2017, the Company entered into a global settlement agreement with two attorneys who represented approximately 1,090 of these plaintiffs. Under the terms of the settlement agreement, the Company offered $700 per plaintiff to settle these cases and 717 plaintiffs accepted this offer as a final settlement. The settlement agreement did not require the payment of any attorney fees by the Company. The attorneys representing these plaintiffs agreed to withdraw from representing plaintiffs who did not respond to the settlement offer. It is the Company’s position that the non-settling plaintiffs who failed to timely refile their cases following the February 2017 dismissal by the Circuit Court of Cook County are now barred from doing so by the statute of limitations. The Company filed a venue motion seeking to transfer to DuPage County cases involving 10 plaintiffs who reside and work in Illinois but outside of Cook County. The Court granted this motion on June 28, 2017. The Company was also sued on this issue outside of the Cook County, Illinois venue. Between 2007 and 2009, a total of 71 lawsuits involving 71 plaintiffs were filed in the Court of Common Pleas, Philadelphia County, Pennsylvania. Three of these cases were dismissed pursuant to pretrial motions filed by the Company. Another case was voluntarily dismissed. Prior to trial in four cases, the Company paid nominal sums to obtain dismissals. Three trials occurred in Philadelphia involving these cases filed in 2007 through 2009. The first trial involving one of these plaintiffs occurred in 2010, when the jury returned a verdict for the plaintiff. The jury found that the Company’s siren was not defectively designed, but that the Company negligently constructed the siren. The jury awarded damages in the amount of less than $0.1 million. The Company appealed this verdict. Another trial, involving nine Philadelphia firefighter plaintiffs, also occurred in 2010 when the jury returned a defense verdict for the Company as to all claims and all plaintiffs involved in that trial. The third trial, also involving nine Philadelphia firefighter plaintiffs, was completed during 2010 when the jury returned a defense verdict for the Company as to all claims and all plaintiffs involved in that trial. Following defense verdicts in the last two Philadelphia trials, the Company negotiated settlements with respect to all remaining filed cases in Philadelphia at that time, as well as other firefighter claimants represented by the attorney who filed the Philadelphia cases. On January 4, 2011, the Company entered into a Global Settlement Agreement (the “Settlement Agreement”) with the law firm of the attorney representing the Philadelphia claimants, on behalf of 1,125 claimants the firm represented (the “Claimants”) and who had asserted product claims against the Company (the “Claims”). Three hundred eight of the Claimants had lawsuits pending against the Company in Cook County, Illinois. The Settlement Agreement provided that the Company pay a total amount of $3.8 million (the “Settlement Payment”) to settle the Claims (including the costs, fees and other expenses of the law firm in connection with its representation of the Claimants), subject to certain terms, conditions and procedures set forth in the Settlement Agreement. In order for the Company to be required to make the Settlement Payment: (i) each Claimant who agreed to settle his or her claims had to sign a release acceptable to the Company (a “Release”), (ii) each Claimant who agreed to the settlement and who was a plaintiff in a lawsuit, had to dismiss his or her lawsuit with prejudice, (iii) by April 29, 2011, at least 93% of the Claimants identified in the Settlement Agreement must have agreed to settle their claims and provide a signed Release to the Company and (iv) the law firm had to withdraw from representing any Claimants who did not agree to the settlement, including those who filed lawsuits. If the conditions to the settlement were met, but less than 100% of the Claimants agreed to settle their Claims and sign a Release, the Settlement Payment would be reduced by the percentage of Claimants who did not agree to the settlement. On April 22, 2011, the Company confirmed that the terms and conditions of the Settlement Agreement had been met and made a payment of $3.6 million to conclude the settlement. The amount was based upon the Company’s receipt of 1,069 signed releases provided by Claimants, which was 95% of all Claimants identified in the Settlement Agreement. The Company generally denies the allegations made in the claims and lawsuits by the Claimants and denies that its products caused any injuries to the Claimants. Nonetheless, the Company entered into the Settlement Agreement for the purpose of minimizing its expenses, including legal fees, and avoiding the inconvenience, uncertainty and distraction of the claims and lawsuits. During April through October 2012, 20 new cases were filed in the Court of Common Pleas, Philadelphia County, Pennsylvania. These cases were filed on behalf of 20 Philadelphia firefighters and involved various defendants in addition to the Company. Five of these cases were subsequently dismissed. The first trial involving these 2012 Philadelphia cases occurred during December 2014 and involved three firefighter plaintiffs. The jury returned a verdict in favor of the Company. Following this trial, all of the parties agreed to settle cases involving seven firefighter plaintiffs set for trial during January 2015 for nominal amounts per plaintiff. In January 2015, plaintiffs’ attorneys filed two new complaints in the Court of Common Pleas, Philadelphia, Pennsylvania on behalf of approximately 70 additional firefighter plaintiffs. The vast majority of the firefighters identified in these complaints were located outside of Pennsylvania. One of the complaints in these cases, which involved 11 firefighter plaintiffs from the District of Columbia, was removed to federal court in the Eastern District of Pennsylvania. Plaintiffs voluntarily dismissed all claims in this case on May 31, 2016. The Company thereafter moved to recover various fees and costs in this case, asserting that plaintiffs’ counsel failed to properly investigate these claims prior to filing suit. The Court granted this motion on April 25, 2017, awarding $0.1 million to the Company (the “Order”). After plaintiffs appealed this Order, the United States Court of Appeals for the Third Circuit affirmed the lower court decision awarding fees and costs to the Company. With respect to claims of other out-of-state firefighters involved in these two cases, the Company moved to dismiss these claims as improperly filed in Pennsylvania. The Court granted this motion and dismissed these claims on November 5, 2015. During August through December 2015, another nine new cases were filed in the Court of Common Pleas, Philadelphia County, Pennsylvania. These cases involved a total of 193 firefighters, most of whom were located outside of Pennsylvania. The Company again moved to dismiss all claims filed by out-of-state firefighters in these cases as improperly filed in Pennsylvania. On May 24, 2016, the Court granted this motion and dismissed these claims. Plaintiffs appealed this decision and, on September 25, 2018, the appellate court reversed this dismissal. The Company then filed a petition with the appellate court requesting that the court reconsider its ruling. On December 7, 2018, the appellate court granted the Company’s petition and withdrew its prior decision. On June 25, 2020, the Court issued a decision affirming the trial court’s dismissal of these cases with prejudice. On May 13, 2016, four new cases were filed in Philadelphia state court, involving a total of 55 Philadelphia firefighters who live in Pennsylvania. During August 2016, the Company settled a case for nominal amounts involving four Philadelphia firefighters that had been set for trial in Philadelphia state court during September 2016. During 2017, plaintiffs filed additional cases in the Court of Common Pleas, Philadelphia County, involving over 100 Philadelphia firefighter plaintiffs. During January 2017, plaintiffs filed a motion to consolidate and bifurcate, similar to a motion filed in the Pittsburgh hearing loss cases, as described below. The Company filed an opposition to this motion. These cases were then transferred to the mass tort program in Philadelphia for pretrial purposes. Plaintiffs’ counsel thereafter dismissed several plaintiffs. During November 2017, a trial involving one Philadelphia firefighter occurred. The jury returned a verdict in favor of the Company in this trial. Prior to a dismissal of these cases pursuant to the Tolling Agreement, discussed below, there was a total of 75 firefighters involved in cases pending in the Philadelphia mass tort program. During March 2014, an action also was brought in the Court of Common Pleas of Erie County, Pennsylvania on behalf of 61 firefighters. This case likewise involves various defendants in addition to the Company. After the Company filed pretrial motions, 33 Erie County firefighter plaintiffs voluntarily dismissed their claims. Prior to a dismissal of these cases pursuant to the Tolling Agreement, discussed below, there was a total of 28 firefighters involved in cases filed in Erie County. During August 2017, five cases involving 70 firefighter plaintiffs were filed in Lackawanna County, Pennsylvania. These cases involve firefighter plaintiffs who originally filed in Cook County several years ago and were dismissed pursuant to the Company’s forum non conveniens motion. On September 17, 2014, 20 lawsuits, involving a total of 193 Buffalo Fire Department firefighters, were filed in the Supreme Court of the State of New York, Erie County. All of the cases filed in Erie County, New York were removed to federal court in the Western District of New York. Plaintiffs filed a motion to consolidate and bifurcate these cases, similar to the motion filed in the Pittsburgh hearing loss cases, as described below. The Company filed an opposition to the motion. During February 2015, a lawsuit involving one New York City firefighter plaintiff was filed in the Supreme Court of the State of New York, New York County. The plaintiff named the Company as well as several other parties as defendants. That case subsequently was transferred to federal court in the Northern District of New York and thereafter dismissed. During April 2015 through January 2016, 29 new cases involving a total of 235 firefighters were filed in various counties in the New York City area. During December 2016 through October 2017, additional cases were filed in these jurisdictions. On February 5, 2018, the Company was served with a complaint in an additional case filed in Kings County, New York. This case involved one plaintiff. Prior to a dismissal of these cases pursuant to the Tolling Agreement, discussed below, there was a total of 536 firefighters involved in cases filed in the State of New York. During November 2015, the Company was served with a complaint filed in Union County, New Jersey state court, involving 34 New Jersey firefighters. This case was transferred to federal court in the District of New Jersey. During the period from January through May 2016, eight additional cases were filed in various New Jersey state courts. Most of the firefighters in these cases resided in New Jersey and worked at New Jersey fire departments. During December 2016, a case involving one New Jersey firefighter was filed in the United States District Court of New Jersey. On May 2, 2017, plaintiffs filed a motion to consolidate and bifurcate in the pending federal court case in New Jersey. This motion was similar to bifurcation motions filed by plaintiffs in Pittsburgh, Buffalo and Philadelphia. The Court denied the motion as premature. Pursuant to a petition filed by both parties, all New Jersey state court cases were consolidated for pretrial purposes. Prior to a dismissal of these cases pursuant to the Tolling Agreement, discussed below, there were a total of 61 firefighters involved in cases filed in New Jersey. During May through October 2016, nine cases were filed in Suffolk County, Massachusetts state court, naming the Company as a defendant. These cases involved 194 firefighters who lived and worked in the Boston area. During August 2017, plaintiffs filed additional cases in Suffolk County court. The Company moved to transfer various cases filed in Suffolk County to other counties in Massachusetts where plaintiffs resided and worked. Prior to a dismissal of these cases pursuant to the Tolling Agreement, discussed below, there was a total of 218 firefighters involved in cases filed in Massachusetts. During August and September 2017, plaintiffs’ attorneys filed additional hearing loss cases in Florida. The Company was the only named defendant. These cases were filed in several different counties in Florida, including Tampa, Miami and Orlando municipalities. Prior to a dismissal of these cases pursuant to the Tolling Agreement, discussed below, there was a total of 166 firefighters involved in cases filed in Florida. During April through July 2013, additional cases were filed in Allegheny County, Pennsylvania on behalf of 247 plaintiff firefighters from Pittsburgh and against various defendants, including the Company. During May 2016, two additional cases were filed against the Company in Allegheny County involving 19 Pittsburgh firefighters. After the Company filed pretrial motions, the Court dismissed claims of 55 Pittsburgh firefighter plaintiffs. The Court scheduled trials for May, September and November 2016, for eight firefighters per trial. Prior to the first scheduled trial in Pittsburgh, the Court granted the Company’s motion for summary judgment and dismissed all claims asserted by plaintiff firefighters involved in this trial. Following an appeal by the plaintiff firefighters, the appellate court affirmed this dismissal. The next trial for six Pittsburgh firefighters started on November 7, 2016. Shortly after this trial began, plaintiffs’ counsel moved for a mistrial because a key witness suddenly became unavailable. The Court granted this motion and rescheduled this trial for March 6, 2017. During January 2017, plaintiffs also moved to consolidate and bifurcate trials involving Pittsburgh firefighters. In particular, plaintiffs sought one trial involving liability issues to apply to all Pittsburgh firefighters who filed suit against the Company. The Company filed an opposition to this motion. On April 18, 2017, the trial court granted plaintiffs’ motion to bifurcate the next Pittsburgh trial. Pursuant to a motion for clarification filed by the Company, the Court ruled that the bifurcation order would only apply to six plaintiffs who were part of the next trial group in Pittsburgh. The Company thereafter sought an interlocutory appeal of the Court’s bifurcation order. The appellate court declined to accept the appeal at that time. A bifurcated trial began on September 27, 2017 in Allegheny County, Pennsylvania. Prior to and during trial, two plaintiffs were dismissed, resulting in four plaintiffs remaining for trial. After approximately two weeks of trial, the jury found that the Company’s siren product was not defective or unreasonably dangerous and rendered a verdict in favor of the Company. A second trial involving Pittsburgh firefighters began during January 2018. At the outset of this trial, plaintiffs’ attorneys, who represent all firefighters who have filed cases in Allegheny County, Philadelphia, Buffalo, New Jersey, Massachusetts, and Florida, as described above, requested that the Company consider settlement of various cases. This trial was continued to allow the parties to further discuss possible settlement. During March 2018, the parties agreed in principle on a framework (the “Settlement Framework”) to resolve hearing loss claims and cases in all jurisdictions involved in the hearing loss litigation except in Cook County and Lackawanna County, and excluding one case involving one firefighter in New York City. The firefighters excluded from the Settlement Framework are represented by different attorneys. The Company settled the cases in Lackawanna County and settled the case involving one firefighter in New York City for nominal amounts. Pursuant to the Settlement Framework, the Company would pay $700 to each firefighter who filed a lawsuit and is eligible to be part of the settlement. The Company would pay $300 to each firefighter who has not yet filed a case and is eligible to be part of the settlement. The settlement agreement does not include the payment of any attorney fees by the Company. To be eligible for settlement, among other things, firefighters must provide proof that they have high frequency noise-induced hearing loss. There are approximately 2,160 firefighters whose claims may be considered as part of this settlement, including approximately 921 firefighters who have ongoing filed lawsuits. This Settlement Framework was finalized in a global settlement agreement executed on November 4, 2019. Pursuant to this global settlement agreement, the parties are now in the process of determining how many of the approximately 2,160 firefighters will be eligible to participate in the settlement. In order to minimize the parties’ respective legal costs and expenses during this settlement process, on July 5, 2018, the parties entered into a tolling agreement (the “Tolling Agreement”). Pursuant to the Tolling Agreement, counsel for the settling firefighters agreed to dismiss the pending lawsuits in all jurisdictions except for the Allegheny County (Pittsburgh), Pennsylvania cases, and the Company agreed to a tolling of any statute of limitations applicable to the dismissed cases. The Tolling Agreement continued in place until the parties executed the global settlement agreement on November 4, 2019. After execution of the global settlement agreement, the Allegheny County (Pittsburgh) cases were dismissed. The global settlement agreement requires plaintiffs’ attorneys to withdraw from representing firefighters who elect not to participate in this settlement. As of June 30, 2023, the Company has recognized an estimated liability for the potential settlement amount under the Settlement Framework. While it is reasonably possible that the ultimate resolution of this matter may result in a loss in excess of the amount accrued, the incremental loss is not expected to be material. From 2007 through 2009, firefighters also brought hearing loss claims against the Company in New Jersey, Missouri, Maryland and Kings County, New York. All of those cases, however, were dismissed prior to trial, including four cases in the Supreme Court of Kings County, New York that were dismissed upon the Company’s motion in 2008. On appeal, the New York appellate court affirmed the trial court’s dismissal of these cases.

v3.23.2

Earnings Per Share	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Earnings Per Share	EARNINGS PER SHARE The Company computes earnings per share (“EPS”) in accordance with ASC 260, Earnings per Share, which requires that non-vested restricted stock containing non-forfeitable dividend rights should be treated as participating securities pursuant to the two-class method. Under the two-class method, net income is reduced by the amount of dividends declared in the period for common stock and participating securities. The remaining undistributed earnings are then allocated to common stock and participating securities as if all of the net income for the period had been distributed. The amounts of distributed and undistributed earnings allocated to participating securities for the three and six months ended June 30, 2023 and 2022 were insignificant and did not materially impact the calculation of basic or diluted EPS. Basic EPS is computed by dividing income available to common stockholders by the weighted average number of shares of common stock and non-vested restricted stock awards outstanding for the period. Diluted EPS is computed using the weighted average number of shares of common stock and non-vested restricted stock awards outstanding for the year, plus the effect of dilutive potential common shares outstanding during the period. The dilutive effect of common stock equivalents is determined using the more dilutive of the two-class method or alternative methods. The Company uses the treasury stock method to determine the potentially dilutive impact of our employee stock options and restricted stock units, and the contingently issuable method for our performance-based restricted stock unit awards. For the three and six months ended June 30, 2023, options to purchase 0.1 million and 0.0 million shares, respectively, of the Company’s common stock had an anti-dilutive effect on EPS, and accordingly, were excluded from the calculation of diluted EPS. For the three and six months ended June 30, 2022, options to purchase 0.3 million and 0.2 million shares, respectively, of the Company’s common stock had an anti-dilutive effect on EPS, and accordingly, were excluded from the calculation of diluted EPS. The following table reconciles Net income to basic and diluted EPS:   Three Months Ended June 30, Six Months Ended June 30, (in millions, except per share data) 2023 2022 2023 2022 Net income $ 40.3  $ 33.5  $ 67.7  $ 54.0  Weighted average shares outstanding – Basic 60.7  60.4  60.7  60.6  Dilutive effect of common stock equivalents 0.7  0.5  0.7  0.5  Weighted average shares outstanding – Diluted 61.4  60.9  61.4  61.1  Earnings per share: Basic $ 0.66  $ 0.55  $ 1.12  $ 0.89  Diluted 0.66  0.55  1.10  0.88

v3.23.2

Stockholders' Equity	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Stockholders' Equity	STOCKHOLDERS’ EQUITY Dividends On February 14, 2023, the Company’s Board of Directors (the “Board”) declared a quarterly cash dividend of $0.09 per common share. The dividend totaled $5.5 million and was distributed on March 31, 2023 to stockholders of record at the close of business on March 17, 2023. On April 25, 2023, the Board declared a quarterly cash dividend of $0.10 per common share. The dividend totaled $6.1 million and was distributed on June 2, 2023 to stockholders of record at the close of business on May 19, 2023. During the three and six months ended June 30, 2022, dividends of $5.4 million and $10.9 million, respectively, were paid to stockholders. On July 24, 2023, the Board declared a quarterly cash dividend of $0.10 per common share payable on September 1, 2023 to stockholders of record at the close of business on August 18, 2023. Stock Repurchase Program In March 2020, the Board authorized a stock repurchase program of up to $75.0 million of the Company’s common stock, with the remaining authorization under our previously described repurchase program adopted in 2014 being subject to the March 2020 program. The stock repurchase program is intended primarily to facilitate purchases of Company stock as a means to provide cash returns to stockholders, enhance stockholder returns and manage the Company’s capital structure. Under its stock repurchase program, the Company is authorized to repurchase, from time to time, shares of its outstanding common stock. Stock repurchases by the Company are subject to market conditions and other factors and may be commenced, suspended or discontinued at any time. No shares were repurchased during the three and six months ended June 30, 2023. During the three months ended June 30, 2022, the Company repurchased 77,011 shares for a total of $2.5 million. During the six months ended June 30, 2022, the Company repurchased 472,381 shares for a total of $16.1 million. Accumulated Other Comprehensive Loss The following tables summarize the changes in each component of Accumulated other comprehensive loss, net of tax in the three months ended June 30, 2023 and 2022: (in millions) (a) Actuarial Losses Prior Service Costs Foreign Currency Translation Interest Rate Swaps Total Balance at April 1, 2023 $ (68.6) $ (2.0) $ (14.5) $ 1.7  $ (83.4) Other comprehensive (loss) income before reclassifications (0.5) —  3.2  1.1  3.8  Amounts reclassified from accumulated other comprehensive loss 0.4  —  —  (0.5) (0.1) Net current-period other comprehensive (loss) income (0.1) —  3.2  0.6  3.7  Balance at June 30, 2023 $ (68.7) $ (2.0) $ (11.3) $ 2.3  $ (79.7) (in millions) (a) Actuarial Losses Prior Service Costs Foreign Currency Translation Interest Rate Swaps Total Balance at April 1, 2022 $ (66.9) $ (2.4) $ (5.0) $ 1.6  $ (72.7) Other comprehensive income (loss) before reclassifications 1.3  0.2  (8.6) 0.1  (7.0) Amounts reclassified from accumulated other comprehensive loss 0.5  0.1  —  0.1  0.7  Net current-period other comprehensive income (loss) 1.8  0.3  (8.6) 0.2  (6.3) Balance at June 30, 2022 $ (65.1) $ (2.1) $ (13.6) $ 1.8  $ (79.0) (a)    Amounts in parentheses indicate losses. The following tables summarize the changes in each component of Accumulated other comprehensive loss, net of tax in the six months ended June 30, 2023 and 2022: (in millions) (a) Actuarial Losses Prior Service Costs Foreign Currency Translation Interest Rate Swaps Total Balance at January 1, 2023 $ (68.6) $ (2.0) $ (16.0) $ 2.6  $ (84.0) Other comprehensive (loss) income before reclassifications (0.9) —  4.7  0.7  4.5  Amounts reclassified from accumulated other comprehensive loss 0.8  —  —  (1.0) (0.2) Net current-period other comprehensive (loss) income (0.1) —  4.7  (0.3) 4.3  Balance at June 30, 2023 $ (68.7) $ (2.0) $ (11.3) $ 2.3  $ (79.7) (in millions) (a) Actuarial Losses Prior Service Costs Foreign Currency Translation Interest Rate Swaps Total Balance at January 1, 2022 $ (67.9) $ (2.4) $ (3.4) $ (0.5) $ (74.2) Other comprehensive income (loss) before reclassifications 1.8  0.2  (10.2) 2.0  (6.2) Amounts reclassified from accumulated other comprehensive loss 1.0  0.1  —  0.3  1.4  Net current-period other comprehensive income (loss) 2.8  0.3  (10.2) 2.3  (4.8) Balance at June 30, 2022 $ (65.1) $ (2.1) $ (13.6) $ 1.8  $ (79.0) (a)    Amounts in parentheses indicate losses. The following table summarizes the amounts reclassified from Accumulated other comprehensive loss, net of tax, in the three months ended June 30, 2023 and 2022 and the affected line item in the Condensed Consolidated Statements of Operations: Details about Accumulated Other Comprehensive Loss Components Amount Reclassified from Accumulated Other Comprehensive Loss Affected Line Item in Condensed Consolidated Statements of Operations 2023 2022 (in millions) (a) Amortization of actuarial losses of defined benefit pension plans $ (0.6) $ (0.7) Other expense (income), net Amortization of prior service costs of defined benefit pension plans —  (0.1) Other expense (income), net Interest rate swaps 0.7  (0.1) Interest expense Total before tax 0.1  (0.9) Income tax (expense) benefit —  0.2  Income tax expense Total reclassifications for the period, net of tax $ 0.1  $ (0.7) (a)    Amounts in parentheses indicate losses. The following table summarizes the amounts reclassified from Accumulated other comprehensive loss, net of tax, in the six months ended June 30, 2023 and 2022 and the affected line item in the Condensed Consolidated Statements of Operations: Details about Accumulated Other Comprehensive Loss Components Amount Reclassified from Accumulated Other Comprehensive Loss Affected Line Item in Condensed Consolidated Statements of Operations 2023 2022 (in millions) (a) Amortization of actuarial losses of defined benefit pension plans $ (1.1) $ (1.4) Other expense (income), net Amortization of prior service costs of defined benefit pension plans —  (0.1) Other expense (income), net Interest rate swaps 1.4  (0.3) Interest expense Total before tax 0.3  (1.8) Income tax (expense) benefit (0.1) 0.4  Income tax expense Total reclassifications for the period, net of tax $ 0.2  $ (1.4) (a)    Amounts in parentheses indicate losses.

v3.23.2

Segment Information	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Segment Information	SEGMENT INFORMATION The Company has two reportable segments: the Environmental Solutions Group and the Safety and Security Systems Group. Business units are organized under each reportable segment because they share certain characteristics, such as technology, marketing, distribution and product application, which create long-term synergies. The following tables summarize the Company’s operations by segment, including Net sales, Operating income (loss), and Total assets:   Three Months Ended June 30, Six Months Ended June 30, (in millions) 2023 2022 2023 2022 Net sales: Environmental Solutions $ 373.0  $ 306.3  $ 691.8  $ 580.5  Safety and Security Systems 69.4  60.4  136.1  116.4  Total net sales $ 442.4  $ 366.7  $ 827.9  $ 696.9  Operating income (loss): Environmental Solutions $ 56.2  $ 39.1  $ 93.8  $ 65.9  Safety and Security Systems 14.1  10.3  26.2  18.2  Corporate and eliminations (10.9) (3.2) (21.1) (9.4) Total operating income 59.4  46.2  98.9  74.7  Interest expense 5.6  1.9  10.3  3.2  Other expense (income), net 1.1  (0.3) 1.2  (0.7) Income before income taxes $ 52.7  $ 44.6  $ 87.4  $ 72.2  (in millions) June 30, 2023 December 31, 2022 Total assets: Environmental Solutions $ 1,334.2  $ 1,206.4  Safety and Security Systems 283.6  279.3  Corporate and eliminations 42.9  38.6  Total assets $ 1,660.7  $ 1,524.3

v3.23.2

Fair Value Measurements	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS The Company uses a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. This hierarchy maximizes the use of observable inputs and minimizes the use of unobservable inputs. Observable inputs are developed based on market data obtained from independent sources, while unobservable inputs reflect the Company’s assumptions about valuation based on the best information available in the circumstances. The three levels of inputs are classified as follows: •Level 1 — quoted prices in active markets for identical assets or liabilities; •Level 2 — observable inputs, other than quoted prices included in Level 1, such as quoted prices for markets that are not active, or other inputs that are observable or can be corroborated by observable market data; and •Level 3 — unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities, including certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. In determining fair value, the Company uses various valuation approaches within the fair value measurement framework. The valuation methodologies used for the Company’s assets and liabilities measured at fair value and their classification in the valuation hierarchy are summarized below. Cash Equivalents Cash equivalents primarily consist of time-based deposits and interest-bearing instruments with maturities of three months or less. The Company classified cash equivalents as Level 1 due to the short-term nature of these instruments and measured the fair value based on quoted prices in active markets for identical assets. Interest Rate Swaps As described in Note 5 – Debt, the Company may, from time to time, execute interest rate swaps as a means of fixing the floating interest rate component on a portion of its floating-rate debt. The Company classifies its interest rate swaps as Level 2 due to the use of a discounted cash flow model based on the terms of the contract and the interest rate curve (Level 2 inputs) to calculate the fair value of the swaps. Contingent Consideration At June 30, 2023, the Company had contingent obligations to transfer up to $7.5 million, $8.0 million, and C$6.0 million (approximately $4.5 million), to the former owners of Deist Industries, Inc. and certain of its affiliates (collectively, “Deist”), Blasters, and Trackless, respectively, if specified financial results are met over future reporting periods (i.e., an earn-out). The Deist, Blasters, and Trackless acquisitions were completed on December 30, 2021, January 3, 2023, and April 3, 2023, respectively. The Deist and Trackless contingent earn-out payments, if earned, would be due to be paid following the third anniversary of the closing date. The Blasters contingent earn-out payments, if earned, would be due to paid annually, in each of the three years following the anniversary of the closing date. During the six months ended June 30, 2023, the Company paid $0.5 million to settle the contingent consideration obligation due to the former owners of Mark Rite Lines Equipment Company, Inc. (“MRL”), which was acquired on July 1, 2019. Liabilities for contingent consideration are measured at fair value each reporting period, with the acquisition-date fair value included as part of the consideration transferred. Subsequent changes in fair value are included as a component of Acquisition and integration-related expenses (benefits) on the Condensed Consolidated Statements of Operations. The Company uses an income approach to value the contingent consideration liability based on the present value of risk-adjusted future cash flows under either a scenario-based or option-pricing method, as appropriate. Due to the lack of relevant observable market data over fair value inputs, such as prospective financial information or probabilities of future events as of June 30, 2023, the Company has classified the contingent consideration liability within Level 3 of the fair value hierarchy outlined in ASC 820, Fair Value Measurements. As further described in Note 2 – Acquisitions, the Company has recognized a preliminary estimate of the fair value of the Blasters and Trackless contingent consideration liabilities as of the applicable acquisition date. Such preliminary estimates are subject to change during the measurement period as the applicable third-party valuations are finalized. The following table summarizes the Company’s assets and liabilities that are measured at fair value on a recurring basis as of June 30, 2023: Fair Value Measurement at Reporting Date Using (in millions) Level 1 Level 2 Level 3 Total Assets: Cash equivalents $ 13.5  $ —  $ —  $ 13.5  Interest rate swaps —  0.6  —  0.6  Liabilities: Contingent consideration —  —  10.5  10.5  The following table provides a roll-forward of the fair value of recurring Level 3 fair value measurements in the three months ended June 30, 2023 and 2022: (in millions) 2023 2022 Contingent consideration liability, at April 1 $ 6.0  $ 2.7  Issuance of contingent consideration in connection with acquisitions 4.5  —  Contingent consideration liability, at June 30 $ 10.5  $ 2.7  The following table provides a roll-forward of the fair value of recurring Level 3 fair value measurements in the six months ended June 30, 2023 and 2022: (in millions) 2023 2022 Contingent consideration liability, at January 1 $ 2.7  $ 2.7  Issuance of contingent consideration in connection with acquisitions 8.5  —  Settlements of contingent consideration liabilities (0.5) —  Total gains included in earnings (a) (0.2) —  Contingent consideration liability, at June 30 $ 10.5  $ 2.7  (a)    Included as a component of acquisition and integration-related expenses on the Condensed Consolidated Statements of Operations.

v3.23.2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Organization and Description of the Business	Organization and Description of the Business Federal Signal Corporation was founded in 1901 and was reincorporated as a Delaware corporation in 1969. References herein to the “Company,” “we,” “our” or “us” refer collectively to Federal Signal Corporation and its subsidiaries. Products manufactured and services rendered by the Company are divided into two reportable segments: Environmental Solutions Group and Safety and Security Systems Group. The individual operating businesses are organized as such because they share certain characteristics, including technology, marketing, distribution and product application, which create long-term synergies. These segments are discussed in Note 12 – Segment Information.
Basis of Presentation and Consolidation	Basis of Presentation and Consolidation The accompanying unaudited condensed consolidated financial statements represent the consolidation of Federal Signal Corporation and its subsidiaries included herein and have been prepared by the Company pursuant to the rules and regulations of the United States (“U.S.”) Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures presented herein are adequate to ensure the information presented is not misleading. Except as otherwise noted, these condensed consolidated financial statements have been prepared in accordance with the Company’s accounting policies described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022, and should be read in conjunction with those consolidated financial statements and the notes thereto. These condensed consolidated financial statements include all normal and recurring adjustments that we considered necessary to present a fair statement of our results of operations, financial condition and cash flow. Intercompany balances and transactions have been eliminated in consolidation. The results reported in these condensed consolidated financial statements should not be regarded as necessarily indicative of results that may be expected for the entire year, which may differ materially due to, among other things, the risk factors described under Part I, Item 1A, Risk Factors, of the Company’s Annual Report on Form 10-K for the year ended December 31, 2022, which was filed with the SEC on March 1, 2023. While we label our quarterly information using a calendar convention whereby our first, second and third quarters are labeled as ending on March 31, June 30 and September 30, respectively, it is our longstanding practice to establish interim quarterly closing dates based on a 13-week period ending on a Saturday, with our fiscal year ending on December 31. The effects of this practice are not material and exist only within a reporting year.
Recent Accounting Pronouncements and Accounting Changes	Recent Accounting Pronouncements and Accounting Changes There are no new accounting pronouncements issued, but not yet adopted, that are expected to have a material impact on the Company’s results of operations, financial position or cash flow.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect (i) the reported amounts of assets and liabilities, (ii) the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and (iii) the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Fair Value Measurements	The Company uses a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. This hierarchy maximizes the use of observable inputs and minimizes the use of unobservable inputs. Observable inputs are developed based on market data obtained from independent sources, while unobservable inputs reflect the Company’s assumptions about valuation based on the best information available in the circumstances. The three levels of inputs are classified as follows: •Level 1 — quoted prices in active markets for identical assets or liabilities; •Level 2 — observable inputs, other than quoted prices included in Level 1, such as quoted prices for markets that are not active, or other inputs that are observable or can be corroborated by observable market data; and •Level 3 — unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities, including certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. In determining fair value, the Company uses various valuation approaches within the fair value measurement framework. The valuation methodologies used for the Company’s assets and liabilities measured at fair value and their classification in the valuation hierarchy are summarized below. Cash Equivalents Cash equivalents primarily consist of time-based deposits and interest-bearing instruments with maturities of three months or less. The Company classified cash equivalents as Level 1 due to the short-term nature of these instruments and measured the fair value based on quoted prices in active markets for identical assets. Interest Rate Swaps As described in Note 5 – Debt, the Company may, from time to time, execute interest rate swaps as a means of fixing the floating interest rate component on a portion of its floating-rate debt. The Company classifies its interest rate swaps as Level 2 due to the use of a discounted cash flow model based on the terms of the contract and the interest rate curve (Level 2 inputs) to calculate the fair value of the swaps. Contingent Consideration At June 30, 2023, the Company had contingent obligations to transfer up to $7.5 million, $8.0 million, and C$6.0 million (approximately $4.5 million), to the former owners of Deist Industries, Inc. and certain of its affiliates (collectively, “Deist”), Blasters, and Trackless, respectively, if specified financial results are met over future reporting periods (i.e., an earn-out). The Deist, Blasters, and Trackless acquisitions were completed on December 30, 2021, January 3, 2023, and April 3, 2023, respectively. The Deist and Trackless contingent earn-out payments, if earned, would be due to be paid following the third anniversary of the closing date. The Blasters contingent earn-out payments, if earned, would be due to paid annually, in each of the three years following the anniversary of the closing date. During the six months ended June 30, 2023, the Company paid $0.5 million to settle the contingent consideration obligation due to the former owners of Mark Rite Lines Equipment Company, Inc. (“MRL”), which was acquired on July 1, 2019. Liabilities for contingent consideration are measured at fair value each reporting period, with the acquisition-date fair value included as part of the consideration transferred. Subsequent changes in fair value are included as a component of Acquisition and integration-related expenses (benefits) on the Condensed Consolidated Statements of Operations. The Company uses an income approach to value the contingent consideration liability based on the present value of risk-adjusted future cash flows under either a scenario-based or option-pricing method, as appropriate. Due to the lack of relevant observable market data over fair value inputs, such as prospective financial information or probabilities of future events as of June 30, 2023, the Company has classified the contingent consideration liability within Level 3 of the fair value hierarchy outlined in ASC 820, Fair Value Measurements. As further described in Note 2 – Acquisitions, the Company has recognized a preliminary estimate of the fair value of the Blasters and Trackless contingent consideration liabilities as of the applicable acquisition date. Such preliminary estimates are subject to change during the measurement period as the applicable third-party valuations are finalized.

v3.23.2

Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2023
Blasters [Member]
Business Acquisition [Line Items]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the preliminary fair value of assets acquired and liabilities assumed as of the acquisition date: (in millions) Purchase price, inclusive of closing adjustments $ 13.2  Estimated fair value of additional consideration (a) 4.0  Total consideration 17.2  Accounts receivable 0.7  Inventories 4.6  Prepaid expenses and other current assets 0.1  Properties and equipment 1.1  Operating lease right-of-use assets (b) 1.1  Customer relationships (c) 5.3  Trade names (d) 2.6  Other intangible assets 0.3  Operating lease liabilities (b) (1.1) Accounts payable (0.9) Accrued liabilities (0.3) Customer deposits (0.5) Finance lease obligations (0.1) Net assets acquired 12.9 Goodwill (e) $ 4.3  (a)    Represents the preliminary estimated fair value of the contingent earn-out payment as of the acquisition date, of which $1.0 million is included in Other current liabilities and $3.0 million is included in Other long-term liabilities on the Condensed Consolidated Balance Sheets. See Note 13 – Fair Value Measurements for discussion of the methodology used to determine the fair value of the contingent earn-out payment. (b)    In connection with the acquisition, the Company entered into a lease agreement for the Blasters facility, which is owned by affiliates of the sellers. The related-party lease contains a market-based annual rent of $0.2 million, an initial lease term of five years, and options to renew. (c)    Represents the preliminary fair value assigned to customer relationships, which are considered to be definite-lived intangible assets, with a preliminary estimated useful life of approximately 12 years. (d)    Represents the preliminary fair value assigned to trade names, which are considered to be indefinite-lived intangible assets. (e)    Goodwill, which is tax-deductible, has been allocated to the Environmental Solutions Group on the basis that the synergies identified will primarily benefit this segment.
Trackless
Business Acquisition [Line Items]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the preliminary fair value of assets acquired and liabilities assumed as of the acquisition date: (in millions) Purchase price, inclusive of preliminary closing adjustments $ 42.6  Estimated fair value of additional consideration (a) 4.5  Total consideration 47.1  Accounts receivable 4.7  Inventories 14.3  Prepaid expenses and other current assets 0.1  Rental equipment 1.6  Properties and equipment 4.4  Customer relationships (b) 10.5  Trade names (c) 2.8  Other intangible assets 1.3  Accounts payable (1.5) Accrued liabilities (0.5) Net assets acquired 37.7 Goodwill (d) $ 9.4  (a)    Represents the preliminary estimated fair value of the contingent earn-out payment as of the acquisition date, which is included in Other long-term liabilities on the Condensed Consolidated Balance Sheets. See Note 13 – Fair Value Measurements for discussion of the methodology used to determine the fair value of the contingent earn-out payment. (b)    Represents the preliminary fair value assigned to customer relationships, which are considered to be definite-lived intangible assets, with a preliminary estimated useful life of approximately 12 years. (c)    Represents the preliminary fair value assigned to trade names, which are considered to be indefinite-lived intangible assets. (d)    Goodwill, which is primarily tax-deductible, has been allocated to the Environmental Solutions Group on the basis that the synergies identified will primarily benefit this segment.
TowHaul Corporation
Business Acquisition [Line Items]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the preliminary fair value of assets acquired and liabilities assumed as of the acquisition date: (in millions) Purchase price, inclusive of closing adjustments $ 43.3  Total consideration 43.3  Accounts receivable 1.5  Inventories 4.7  Properties and equipment 6.4  Customer relationships (a) 6.9  Trade names (b) 5.7  Other intangible assets 1.0  Accounts payable (0.1) Accrued liabilities (0.5) Customer deposits (2.4) Net assets acquired 23.2  Goodwill (c) $ 20.1  (a)    Represents the preliminary fair value assigned to customer relationships, which are considered to be definite-lived intangible assets, with a preliminary estimated useful life of approximately 6 years. (b)    Represents the preliminary fair value assigned to trade names, which are considered to be indefinite-lived intangible assets. (c)    Goodwill, which is tax-deductible, has been allocated to the Environmental Solutions Group on the basis that the synergies identified will primarily benefit this segment.

v3.23.2

Revenue Recognition (Tables)	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Net Sales Disaggregated By Geographic Region and Major Product Line	The following table presents the Company’s Net sales disaggregated by geographic region, based on the location of the end customer, and by major product line: Three Months Ended June 30, Six Months Ended June 30, (in millions) 2023 2022 2023 2022 Geographic Region: U.S. $ 338.9  $ 299.8  $ 648.0  $ 564.2  Canada 69.4  44.0  113.3  86.3  Europe/Other 34.1  22.9  66.6  46.4  Total net sales $ 442.4  $ 366.7  $ 827.9  $ 696.9  Major Product Line: Environmental Solutions Vehicles and equipment (a) $ 285.0  $ 235.8  $ 530.3  $ 453.2  Parts 59.6  45.1  114.4  85.9  Rental income (b) 16.9  16.1  27.9  25.8  Other (c) 11.5  9.3  19.2  15.6  Total 373.0  306.3  691.8  580.5  Safety and Security Systems Public safety and security equipment 42.4  37.5  82.6  73.6  Industrial signaling equipment 18.7  15.1  37.3  29.3  Warning systems 8.3  7.8  16.2  13.5  Total 69.4  60.4  136.1  116.4  Total net sales $ 442.4  $ 366.7  $ 827.9  $ 696.9  (a)    Includes net sales from the sale of new and used vehicles and equipment, including sales of rental equipment. (b)    Represents income from vehicle and equipment lease arrangements with customers. (c)    Primarily includes revenues from services, such as maintenance and repair work, and the sale of extended warranty contracts.

v3.23.2

Inventories (Tables)	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
Components of Inventories	The following table summarizes the components of Inventories: (in millions) June 30, 2023 December 31, 2022 Finished goods $ 131.4  $ 97.5  Raw materials 173.6  164.3  Work in process 34.4  30.9  Total inventories (a) $ 339.4  $ 292.7  (a) Amounts at June 30, 2023 include inventories acquired in the acquisitions of Blasters and Trackless - See Note 2 - Acquisitions.

v3.23.2

Debt (Tables)	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Summary of Components of Long-Term Borrowings and Finance Lease Obligations	The following table summarizes the components of Long-term borrowings and finance lease obligations: (in millions) June 30, 2023 December 31, 2022 2022 Credit Agreement (a) $ 407.4  $ 361.0  Finance lease obligations 1.8  2.0  Total borrowings and finance lease obligations, including current portion 409.2  363.0  Less: Current borrowings 2.4  0.8  Less: Current finance lease obligations 0.7  0.7  Total long-term borrowings and finance lease obligations $ 406.1  $ 361.5  (a)     Defined as the Third Amended and Restated Credit Agreement, dated October 21, 2022, as amended.
Schedule of Gross Borrowings and Gross Payments	The following table summarizes the gross borrowings and gross payments under the Company’s credit facilities: Six Months Ended June 30, (in millions) 2023 2022 Gross borrowings $ 115.7  $ 67.0  Gross payments 71.0  22.9

v3.23.2

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The following table summarizes the carrying amount of goodwill, and the changes in the carrying amount of goodwill in the six months ended June 30, 2023, by segment: (in millions) Environmental Solutions Safety & Security Systems Total Balance at January 1, 2023 $ 343.8  $ 109.6  $ 453.4  Acquisitions, including measurement period adjustments 20.9  —  20.9  Translation adjustments 0.3  0.8  1.1  Balance at June 30, 2023 $ 365.0  $ 110.4  $ 475.4
Schedule of Finite-Lived Intangible Assets	The following table summarizes the gross carrying amount and accumulated amortization of intangible assets for each major class of intangible assets:   June 30, 2023 December 31, 2022 (in millions) Gross Carrying Value Accumulated Amortization Net Carrying Value Gross Carrying Value Accumulated Amortization Net Carrying Value Definite-lived intangible assets: Customer relationships (a) $ 162.6  $ (59.1) $ 103.5  $ 153.7  $ (52.0) $ 101.7  Other (a) 8.3  (3.9) 4.4  5.7  (3.4) 2.3  Total definite-lived intangible assets 170.9  (63.0) 107.9  159.4  (55.4) 104.0  Indefinite-lived intangible assets: Trade names 104.5  —  104.5  99.9  —  99.9  Other 4.3  —  4.3  4.3  —  4.3  Total indefinite-lived intangible assets 108.8  —  108.8  104.2  —  104.2  Total intangible assets $ 279.7  $ (63.0) $ 216.7  $ 263.6  $ (55.4) $ 208.2  (a)    Average useful life of customer relationships and other definite-lived intangible assets are estimated to be approximately 12 years and 6 years, respectively. The average useful life across all definite-lived intangible assets is estimated to be approximately 11 years.
Schedule of Indefinite-Lived Intangible Assets	The following table summarizes the gross carrying amount and accumulated amortization of intangible assets for each major class of intangible assets:   June 30, 2023 December 31, 2022 (in millions) Gross Carrying Value Accumulated Amortization Net Carrying Value Gross Carrying Value Accumulated Amortization Net Carrying Value Definite-lived intangible assets: Customer relationships (a) $ 162.6  $ (59.1) $ 103.5  $ 153.7  $ (52.0) $ 101.7  Other (a) 8.3  (3.9) 4.4  5.7  (3.4) 2.3  Total definite-lived intangible assets 170.9  (63.0) 107.9  159.4  (55.4) 104.0  Indefinite-lived intangible assets: Trade names 104.5  —  104.5  99.9  —  99.9  Other 4.3  —  4.3  4.3  —  4.3  Total indefinite-lived intangible assets 108.8  —  108.8  104.2  —  104.2  Total intangible assets $ 279.7  $ (63.0) $ 216.7  $ 263.6  $ (55.4) $ 208.2  (a)    Average useful life of customer relationships and other definite-lived intangible assets are estimated to be approximately 12 years and 6 years, respectively. The average useful life across all definite-lived intangible assets is estimated to be approximately 11 years.

v3.23.2

Pensions (Tables)	6 Months Ended
	Jun. 30, 2023
Retirement Benefits [Abstract]
Summary of Components of Net Periodic Pension (Benefit) Expense	The following table summarizes the components of Net periodic pension (benefit) expense:    U.S. Benefit Plan Non-U.S. Benefit Plan   Three Months Ended June 30, Six Months Ended June 30, Three Months Ended June 30, Six Months Ended June 30, (in millions) 2023 2022 2023 2022 2023 2022 2023 2022 Interest cost $ 1.5  $ 1.0  3.0  2.1  $ 0.4  $ 0.2  0.8  0.4  Amortization of actuarial loss 0.3  0.6  0.6  1.1  0.3  0.1  0.5  0.3  Amortization of prior service cost —  —  —  —  —  0.1  —  0.1  Expected return on plan assets (1.9) (1.8) (3.8) (3.5) (0.5) (0.5) (1.0) (1.0) Net periodic pension (benefit) expense $ (0.1) $ (0.2) $ (0.2) $ (0.3) $ 0.2  $ (0.1) $ 0.3  $ (0.2)

v3.23.2

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of Product Warranty Liability	The following table summarizes the changes in the Company’s warranty liabilities during the six months ended June 30, 2023 and 2022: (in millions) 2023 2022 Balance at January 1 $ 9.3  $ 9.7  Provisions to expense 3.8  3.5  Acquisitions 0.1  —  Payments (3.8) (3.9) Balance at June 30 $ 9.4  $ 9.3

v3.23.2

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Reconciliation of Net Income to Basic and Diluted EPS	The following table reconciles Net income to basic and diluted EPS:   Three Months Ended June 30, Six Months Ended June 30, (in millions, except per share data) 2023 2022 2023 2022 Net income $ 40.3  $ 33.5  $ 67.7  $ 54.0  Weighted average shares outstanding – Basic 60.7  60.4  60.7  60.6  Dilutive effect of common stock equivalents 0.7  0.5  0.7  0.5  Weighted average shares outstanding – Diluted 61.4  60.9  61.4  61.1  Earnings per share: Basic $ 0.66  $ 0.55  $ 1.12  $ 0.89  Diluted 0.66  0.55  1.10  0.88

v3.23.2

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Changes in Each Component of Accumulated Other Comprehensive Loss	The following tables summarize the changes in each component of Accumulated other comprehensive loss, net of tax in the three months ended June 30, 2023 and 2022: (in millions) (a) Actuarial Losses Prior Service Costs Foreign Currency Translation Interest Rate Swaps Total Balance at April 1, 2023 $ (68.6) $ (2.0) $ (14.5) $ 1.7  $ (83.4) Other comprehensive (loss) income before reclassifications (0.5) —  3.2  1.1  3.8  Amounts reclassified from accumulated other comprehensive loss 0.4  —  —  (0.5) (0.1) Net current-period other comprehensive (loss) income (0.1) —  3.2  0.6  3.7  Balance at June 30, 2023 $ (68.7) $ (2.0) $ (11.3) $ 2.3  $ (79.7) (in millions) (a) Actuarial Losses Prior Service Costs Foreign Currency Translation Interest Rate Swaps Total Balance at April 1, 2022 $ (66.9) $ (2.4) $ (5.0) $ 1.6  $ (72.7) Other comprehensive income (loss) before reclassifications 1.3  0.2  (8.6) 0.1  (7.0) Amounts reclassified from accumulated other comprehensive loss 0.5  0.1  —  0.1  0.7  Net current-period other comprehensive income (loss) 1.8  0.3  (8.6) 0.2  (6.3) Balance at June 30, 2022 $ (65.1) $ (2.1) $ (13.6) $ 1.8  $ (79.0) (a)    Amounts in parentheses indicate losses. The following tables summarize the changes in each component of Accumulated other comprehensive loss, net of tax in the six months ended June 30, 2023 and 2022: (in millions) (a) Actuarial Losses Prior Service Costs Foreign Currency Translation Interest Rate Swaps Total Balance at January 1, 2023 $ (68.6) $ (2.0) $ (16.0) $ 2.6  $ (84.0) Other comprehensive (loss) income before reclassifications (0.9) —  4.7  0.7  4.5  Amounts reclassified from accumulated other comprehensive loss 0.8  —  —  (1.0) (0.2) Net current-period other comprehensive (loss) income (0.1) —  4.7  (0.3) 4.3  Balance at June 30, 2023 $ (68.7) $ (2.0) $ (11.3) $ 2.3  $ (79.7) (in millions) (a) Actuarial Losses Prior Service Costs Foreign Currency Translation Interest Rate Swaps Total Balance at January 1, 2022 $ (67.9) $ (2.4) $ (3.4) $ (0.5) $ (74.2) Other comprehensive income (loss) before reclassifications 1.8  0.2  (10.2) 2.0  (6.2) Amounts reclassified from accumulated other comprehensive loss 1.0  0.1  —  0.3  1.4  Net current-period other comprehensive income (loss) 2.8  0.3  (10.2) 2.3  (4.8) Balance at June 30, 2022 $ (65.1) $ (2.1) $ (13.6) $ 1.8  $ (79.0) (a)    Amounts in parentheses indicate losses.
Reclassification from Accumulated Other Comprehensive Loss, Net of Tax	The following table summarizes the amounts reclassified from Accumulated other comprehensive loss, net of tax, in the three months ended June 30, 2023 and 2022 and the affected line item in the Condensed Consolidated Statements of Operations: Details about Accumulated Other Comprehensive Loss Components Amount Reclassified from Accumulated Other Comprehensive Loss Affected Line Item in Condensed Consolidated Statements of Operations 2023 2022 (in millions) (a) Amortization of actuarial losses of defined benefit pension plans $ (0.6) $ (0.7) Other expense (income), net Amortization of prior service costs of defined benefit pension plans —  (0.1) Other expense (income), net Interest rate swaps 0.7  (0.1) Interest expense Total before tax 0.1  (0.9) Income tax (expense) benefit —  0.2  Income tax expense Total reclassifications for the period, net of tax $ 0.1  $ (0.7) (a)    Amounts in parentheses indicate losses. The following table summarizes the amounts reclassified from Accumulated other comprehensive loss, net of tax, in the six months ended June 30, 2023 and 2022 and the affected line item in the Condensed Consolidated Statements of Operations: Details about Accumulated Other Comprehensive Loss Components Amount Reclassified from Accumulated Other Comprehensive Loss Affected Line Item in Condensed Consolidated Statements of Operations 2023 2022 (in millions) (a) Amortization of actuarial losses of defined benefit pension plans $ (1.1) $ (1.4) Other expense (income), net Amortization of prior service costs of defined benefit pension plans —  (0.1) Other expense (income), net Interest rate swaps 1.4  (0.3) Interest expense Total before tax 0.3  (1.8) Income tax (expense) benefit (0.1) 0.4  Income tax expense Total reclassifications for the period, net of tax $ 0.2  $ (1.4) (a)    Amounts in parentheses indicate losses.

v3.23.2

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Summary of Net Sales, Operating Income (Loss), and Total Assets by Segment	The following tables summarize the Company’s operations by segment, including Net sales, Operating income (loss), and Total assets:   Three Months Ended June 30, Six Months Ended June 30, (in millions) 2023 2022 2023 2022 Net sales: Environmental Solutions $ 373.0  $ 306.3  $ 691.8  $ 580.5  Safety and Security Systems 69.4  60.4  136.1  116.4  Total net sales $ 442.4  $ 366.7  $ 827.9  $ 696.9  Operating income (loss): Environmental Solutions $ 56.2  $ 39.1  $ 93.8  $ 65.9  Safety and Security Systems 14.1  10.3  26.2  18.2  Corporate and eliminations (10.9) (3.2) (21.1) (9.4) Total operating income 59.4  46.2  98.9  74.7  Interest expense 5.6  1.9  10.3  3.2  Other expense (income), net 1.1  (0.3) 1.2  (0.7) Income before income taxes $ 52.7  $ 44.6  $ 87.4  $ 72.2  (in millions) June 30, 2023 December 31, 2022 Total assets: Environmental Solutions $ 1,334.2  $ 1,206.4  Safety and Security Systems 283.6  279.3  Corporate and eliminations 42.9  38.6  Total assets $ 1,660.7  $ 1,524.3

v3.23.2

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value of Assets and Liabilities	The following table summarizes the Company’s assets and liabilities that are measured at fair value on a recurring basis as of June 30, 2023: Fair Value Measurement at Reporting Date Using (in millions) Level 1 Level 2 Level 3 Total Assets: Cash equivalents $ 13.5  $ —  $ —  $ 13.5  Interest rate swaps —  0.6  —  0.6  Liabilities: Contingent consideration —  —  10.5  10.5
Roll-Forward of Fair Value of Recurring Level 3 Fair Value Measurements	The following table provides a roll-forward of the fair value of recurring Level 3 fair value measurements in the three months ended June 30, 2023 and 2022: (in millions) 2023 2022 Contingent consideration liability, at April 1 $ 6.0  $ 2.7  Issuance of contingent consideration in connection with acquisitions 4.5  —  Contingent consideration liability, at June 30 $ 10.5  $ 2.7  The following table provides a roll-forward of the fair value of recurring Level 3 fair value measurements in the six months ended June 30, 2023 and 2022: (in millions) 2023 2022 Contingent consideration liability, at January 1 $ 2.7  $ 2.7  Issuance of contingent consideration in connection with acquisitions 8.5  —  Settlements of contingent consideration liabilities (0.5) —  Total gains included in earnings (a) (0.2) —  Contingent consideration liability, at June 30 $ 10.5  $ 2.7  (a)    Included as a component of acquisition and integration-related expenses on the Condensed Consolidated Statements of Operations.

v3.23.2

Summary of Significant Accounting Policies (Details)	6 Months Ended
	Jun. 30, 2023 Segment
Accounting Policies [Abstract]
Number of reportable segments	2

v3.23.2

Acquisitions - Narrative (Details)					3 Months Ended		6 Months Ended
	Apr. 03, 2023 USD ($)	Apr. 03, 2023 CAD ($)	Jan. 03, 2023 USD ($)	Oct. 03, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jul. 11, 2023 USD ($)	Apr. 03, 2023 CAD ($)	Dec. 31, 2022 USD ($)
Business Acquisition [Line Items]
Net sales					$ 442,400,000	$ 366,700,000	$ 827,900,000	$ 696,900,000
Total operating income					59,400,000	$ 46,200,000	98,900,000	$ 74,700,000
Goodwill					475,400,000		$ 475,400,000				$ 453,400,000
Blasters [Member]
Business Acquisition [Line Items]
Total consideration			$ 13,200,000
Contingent consideration maximum			$ 8,000,000
Net sales					10,300,000
Total operating income					1,000,000
Lessee, Operating Lease, Initial Lease Term			5 years
Operating Lease, Cost			$ 200,000
Business Combination, Contingent Consideration, Liability			1,000,000
Business Combination, Contingent Consideration, Liability, Noncurrent			$ 3,000,000
Blasters [Member] | Subsequent Event
Business Acquisition [Line Items]
Business Acquisition post closing adjustment									$ (200,000)
Trackless
Business Acquisition [Line Items]
Total consideration	$ 42,600,000	$ 57,300,000
Contingent consideration maximum	$ 4,500,000									$ 6,000,000
Net sales					10,900,000
Total operating income					2,700,000
TowHaul Corporation
Business Acquisition [Line Items]
Total consideration				$ 43,300,000
Goodwill											$ 12,900,000
Goodwill, Other Increase (Decrease)					$ 7,200,000

v3.23.2

Acquisitions - Trackless Acquisition (Details) - USD ($) $ in Millions		6 Months Ended
	Apr. 03, 2023	Jun. 30, 2023
Business Acquisition [Line Items]
Goodwill		$ 20.9
Finite-lived intangible asset, useful life		11 years
Customer relationships
Business Acquisition [Line Items]
Finite-lived intangible asset, useful life		12 years
Trackless
Business Acquisition [Line Items]
Purchase price, inclusive of preliminary closing adjustments	$ 42.6
Estimated fair value of additional consideration (a)	4.5
Total consideration	47.1
Accounts receivable	4.7
Inventories	14.3
Prepaid expenses and other current assets	0.1
Rental equipment	1.6
Properties and equipment	4.4
Customer relationships	10.5
Trade names	2.8
Other intangible assets	1.3
Accounts payable	(1.5)
Accrued liabilities	(0.5)
Net assets acquired	37.7
Goodwill	$ 9.4
Trackless | Customer relationships
Business Acquisition [Line Items]
Finite-lived intangible asset, useful life	12 years

v3.23.2

Acquisitions - Blasters Acquisition (Details) - USD ($) $ in Millions		6 Months Ended
	Jan. 03, 2023	Jun. 30, 2023
Business Acquisition [Line Items]
Goodwill		$ 20.9
Finite-lived intangible asset, useful life		11 years
Customer relationships
Business Acquisition [Line Items]
Finite-lived intangible asset, useful life		12 years
Blasters [Member]
Business Acquisition [Line Items]
Purchase price, inclusive of preliminary closing adjustments	$ 13.2
Estimated fair value of additional consideration (a)	4.0
Total consideration	17.2
Accounts receivable	0.7
Inventories	4.6
Prepaid expenses and other current assets	0.1
Properties and equipment	1.1
Operating lease right-of-use assets (b)	1.1
Customer relationships	5.3
Trade names	2.6
Other intangible assets	0.3
Operating lease liabilities (b)	(1.1)
Accounts payable	(0.9)
Accrued liabilities	(0.3)
Customer deposits	(0.5)
Finance lease obligations	(0.1)
Net assets acquired	12.9
Goodwill	$ 4.3
Blasters [Member] | Customer relationships
Business Acquisition [Line Items]
Finite-lived intangible asset, useful life	12 years

v3.23.2

Acquisitions - Tow Haul Acquisition (Details) - USD ($) $ in Millions		6 Months Ended
	Oct. 03, 2022	Jun. 30, 2023
Business Acquisition [Line Items]
Goodwill		$ 20.9
Finite-lived intangible asset, useful life		11 years
Customer relationships
Business Acquisition [Line Items]
Finite-lived intangible asset, useful life		12 years
TowHaul Corporation
Business Acquisition [Line Items]
Purchase price, inclusive of preliminary closing adjustments	$ 43.3
Total consideration	43.3
Accounts receivable	1.5
Inventories	4.7
Properties and equipment	6.4
Customer relationships	6.9
Trade names	5.7
Other intangible assets	1.0
Accounts payable	(0.1)
Accrued liabilities	(0.5)
Customer deposits	(2.4)
Net assets acquired	23.2
Goodwill	$ 20.1
TowHaul Corporation | Customer relationships
Business Acquisition [Line Items]
Finite-lived intangible asset, useful life	6 years

v3.23.2

Revenue Recognition - Disaggregation of Revenue From Contracts With Customers (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Net sales		$ 442.4	$ 366.7	$ 827.9	$ 696.9
U.S.
Disaggregation of Revenue [Line Items]
Net sales		338.9	299.8	648.0	564.2
Canada
Disaggregation of Revenue [Line Items]
Net sales		69.4	44.0	113.3	86.3
Europe/Other
Disaggregation of Revenue [Line Items]
Net sales		34.1	22.9	66.6	46.4
Environmental Solutions
Disaggregation of Revenue [Line Items]
Net sales		373.0	306.3	691.8	580.5
Environmental Solutions | Vehicles and equipment
Disaggregation of Revenue [Line Items]
Net sales	[1]	285.0	235.8	530.3	453.2
Environmental Solutions | Parts
Disaggregation of Revenue [Line Items]
Net sales		59.6	45.1	114.4	85.9
Environmental Solutions | Rental income
Disaggregation of Revenue [Line Items]
Net sales	[2]	16.9	16.1	27.9	25.8
Environmental Solutions | Other
Disaggregation of Revenue [Line Items]
Net sales	[3]	11.5	9.3	19.2	15.6
Safety and Security Systems
Disaggregation of Revenue [Line Items]
Net sales		69.4	60.4	136.1	116.4
Safety and Security Systems | Public safety and security equipment
Disaggregation of Revenue [Line Items]
Net sales		42.4	37.5	82.6	73.6
Safety and Security Systems | Industrial signaling equipment
Disaggregation of Revenue [Line Items]
Net sales		18.7	15.1	37.3	29.3
Safety and Security Systems | Warning systems
Disaggregation of Revenue [Line Items]
Net sales		$ 8.3	$ 7.8	$ 16.2	$ 13.5
[1] Includes net sales from the sale of new and used vehicles and equipment, including sales of rental equipment. [2] Represents income from vehicle and equipment lease arrangements with customers. [3] Primarily includes revenues from services, such as maintenance and repair work, and the sale of extended warranty contracts.

v3.23.2

Revenue Recognition - Contract Liabilities (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Description of performance obligation timing	Contract liabilities are recognized as Net sales when the related performance obligations are satisfied, which generally occurs within three to six months of the cash receipt.
Contract liabilities	$ 29.8	$ 28.9

v3.23.2

Inventories - Components of Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Finished goods	$ 131.4	$ 97.5
Raw materials	173.6	164.3
Work in process	34.4	30.9
Total inventories	$ 339.4	$ 292.7

v3.23.2

Debt - Summary of Components of Long-Term Borrowings and Finance Lease Obligations (Details) - USD ($) $ in Millions		Jun. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Long-term borrowings	[1]	$ 407.4	$ 361.0
Finance lease obligations		1.8	2.0
Total borrowings and finance lease obligations, including current portion		409.2	363.0
Long-term Debt, Current Maturities	[1]	2.4	0.8
Current finance lease obligations		0.7	0.7
Total long-term borrowings and finance lease obligations		$ 406.1	$ 361.5
[1] Defined as the Third Amended and Restated Credit Agreement, dated October 21, 2022, as amended.

v3.23.2

Debt - Summary of Carrying Amounts and Estimated Fair Values of Long-Term Borrowings (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Long-term borrowings	$ 409.2	$ 363.0
Current portion of long-term borrowings and finance lease obligations	$ 3.1	$ 1.5

v3.23.2

Debt - Schedule of Gross Borrowings and Gross Payments (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Line of Credit Facility [Line Items]
Gross borrowings	$ 115.7	$ 67.0
Gross payments	$ 71.0	$ 22.9

v3.23.2

Debt - Additional Information (Details) - USD ($) $ in Millions					3 Months Ended		6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022	Oct. 21, 2022	Oct. 02, 2022	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Jul. 11, 2023
Debt Instrument [Line Items]
Interest rate swap liability, fair value		$ 0.3
Interest rate swap asset, fair value	$ 0.6				$ 0.6		$ 0.6
2022 Credit Agreement | Minimum | Line of Credit
Debt Instrument [Line Items]
Line of credit facility, unused capacity, commitment fee percentage			0.10%
2022 Credit Agreement | Maximum | Line of Credit
Debt Instrument [Line Items]
Line of credit facility, unused capacity, commitment fee percentage			0.25%
2022 Credit Agreement | Base Rate | Minimum | Line of Credit
Debt Instrument [Line Items]
Base rate borrowings margin range			0.00%
2022 Credit Agreement | Base Rate | Maximum | Line of Credit
Debt Instrument [Line Items]
Base rate borrowings margin range			0.75%
2022 Credit Agreement | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Minimum | Line of Credit
Debt Instrument [Line Items]
Base rate borrowings margin range			1.00%
2022 Credit Agreement | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Maximum | Line of Credit
Debt Instrument [Line Items]
Base rate borrowings margin range			1.75%
2022 Credit Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility outstanding amount	407.4	361.0			407.4		407.4
Remaining borrowing capacity	381.4	427.8			381.4		381.4
2022 Credit Agreement | Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Credit facility maximum borrowings			$ 675.0
2022 Credit Agreement | Letter of Credit
Debt Instrument [Line Items]
Credit facility outstanding amount	11.2	11.2			11.2		11.2
Interest Rate Swap
Debt Instrument [Line Items]
Unrealized pre-tax gain (loss) on interest rate swap cash flow hedges, recorded in accumulated other comprehensive loss					1.4	$ 0.2	0.9	$ 3.1
Debt Securities, Unrealized Gain (Loss)	2.6	$ 3.8
Debt and Equity Securities, Realized Gain (Loss)					0.6		1.2
Proceeds from Hedge, Financing Activities				$ 4.3
Proceeds from Hedge, Financing Activities				$ 4.3
us-gaap_InterestRateSwapMember2022
Debt Instrument [Line Items]
Credit facility outstanding amount	75.0				75.0		75.0
Interest rate swap, notional amount	$ 75.0				$ 75.0		$ 75.0
Subsequent Event | InterestRateSwapMember2023
Debt Instrument [Line Items]
Credit facility outstanding amount									$ 75.0
Interest rate swap, notional amount									$ 75.0

v3.23.2

Goodwill and Other Intangible Assets - Changes in Carrying Amount of Goodwill (Details) $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 453.4
Goodwill	20.9
Translation adjustments	1.1
Goodwill, ending balance	475.4
Environmental Solutions
Goodwill [Roll Forward]
Goodwill, beginning balance	343.8
Goodwill	20.9
Translation adjustments	0.3
Goodwill, ending balance	365.0
Safety and Security Systems
Goodwill [Roll Forward]
Goodwill, beginning balance	109.6
Goodwill	0.0
Translation adjustments	0.8
Goodwill, ending balance	$ 110.4

v3.23.2

Goodwill and Other Intangible Assets - Gross Carrying Amount and Accumulated Amortization (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 170.9	$ 159.4
Accumulated Amortization	(63.0)	(55.4)
Net Carrying Value	107.9	104.0
Indefinite-lived intangible assets	108.8	104.2
Total intangible assets, gross carrying value	279.7	263.6
Total intangible assets, net	$ 216.7	208.2
Finite-lived intangible asset, useful life	11 years
Trade names
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	$ 104.5	99.9
Distribution Rights
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	4.3	4.3
Customer relationships
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross Carrying Value	162.6	153.7
Accumulated Amortization	(59.1)	(52.0)
Net Carrying Value	$ 103.5	101.7
Finite-lived intangible asset, useful life	12 years
Other
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 8.3	5.7
Accumulated Amortization	(3.9)	(3.4)
Net Carrying Value	$ 4.4	$ 2.3
Finite-lived intangible asset, useful life	6 years

v3.23.2

Goodwill and Other Intangible Assets - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 3.9	$ 3.2	$ 7.5	$ 6.5
Estimated amortization of intangibles, remainder of 2023	8.0		8.0
Estimated amortization of intangibles, 2024	15.9		15.9
Estimated amortization of intangibles, 2025	15.9		15.9
Estimated amortization of intangibles, 2026	15.7		15.7
Estimated amortization of intangibles, 2027	14.5		14.5
Estimated amortization of intangibles, thereafter	$ 37.9		$ 37.9

v3.23.2

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income tax expense	$ 12.4	$ 11.1	$ 19.7	$ 18.2
Excess tax benefit from stock compensation activity	$ 0.7		$ 1.6
Effective tax rate	23.50%	24.90%	22.50%	25.20%
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability			$ 13.2
Current Income Tax Expense (Benefit)			0.5
Tax Benefit From Interest of Stock Deduction			$ 1.4

v3.23.2

Pensions - Summary of Components of Net Periodic Pension Expense (Benefit) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
U.S.
Defined Benefit Plan Disclosure [Line Items]
Interest cost	$ 1.5	$ 1.0	$ 3.0	$ 2.1
Amortization of actuarial loss	0.3	0.6	0.6	1.1
Amortization of prior service cost	0.0	0.0	0.0	0.0
Expected return on plan assets	(1.9)	(1.8)	(3.8)	(3.5)
Net periodic pension (benefit) expense	(0.1)	(0.2)	(0.2)	(0.3)
Non-U.S. Benefit Plan
Defined Benefit Plan Disclosure [Line Items]
Interest cost	0.4	0.2	0.8	0.4
Amortization of actuarial loss	0.3	0.1	0.5	0.3
Amortization of prior service cost	0.0	0.1	0.0	0.1
Expected return on plan assets	(0.5)	(0.5)	(1.0)	(1.0)
Net periodic pension (benefit) expense	$ 0.2	$ (0.1)	$ 0.3	$ (0.2)

v3.23.2

Commitments and Contingencies - Summary of Changes in Warranty Liabilities (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Balance at January 1	$ 9.3	$ 9.7
Provisions to expense	3.8	3.5
Acquisitions	0.1	0.0
Payments	(3.8)	(3.9)
Balance at June 30	$ 9.4	$ 9.3
Minimum
Product Warranty Liability [Line Items]
Warranty period	1 year
Maximum
Product Warranty Liability [Line Items]
Warranty period	5 years

v3.23.2

Commitments and Contingencies - Additional Information (Details)													1 Months Ended																			4 Months Ended	5 Months Ended		6 Months Ended	7 Months Ended		10 Months Ended		11 Months Ended	12 Months Ended								36 Months Ended			72 Months Ended
	Dec. 20, 2021 USD ($) Plaintiff	Jul. 05, 2018 plaintiff USD ($) Plaintiff	Feb. 05, 2018 Plaintiff	Jun. 28, 2017 Plaintiff	Apr. 25, 2017 USD ($)	Feb. 24, 2017 Plaintiff	May 13, 2016 case plaintiff	Jan. 12, 2015 Plaintiff	Sep. 17, 2014 case Plaintiff	Nov. 30, 2012 Plaintiff	Apr. 29, 2011 USD ($)	Apr. 22, 2011 USD ($) Plaintiff	Jul. 31, 2022 USD ($)	Mar. 31, 2018 USD ($)	Mar. 31, 2018 plaintiff	Mar. 31, 2018 Plaintiff	Nov. 30, 2017 plaintiff	Sep. 30, 2017 Plaintiff plaintiff	Aug. 31, 2017 Plaintiff	Dec. 31, 2016 Plaintiff	Aug. 30, 2016 plaintiff	May 31, 2016 Plaintiff	Nov. 30, 2015 Plaintiff	Feb. 28, 2015 Plaintiff	Jan. 31, 2015 case	Jan. 31, 2015 Plaintiff	Jan. 31, 2015 Case	Dec. 31, 2014 Plaintiff	Mar. 31, 2014 Plaintiff plaintiff	Dec. 31, 2012 Plaintiff	Nov. 30, 2011 Plaintiff	Jul. 31, 2013 Plaintiff	May 31, 2016 Case	Dec. 31, 2015 case Plaintiff	Oct. 31, 2016 Case plaintiff	Nov. 30, 2016 plaintiff	Oct. 31, 2012 Case case Plaintiff	Jan. 31, 2016 Case	Nov. 05, 2015 Case	Sep. 30, 2017 plaintiff	Dec. 31, 2017 USD ($) plaintiff Plaintiff	Dec. 31, 2013 plaintiff	Dec. 31, 2010 USD ($)	Dec. 31, 2010 case	Dec. 31, 2010 plaintiff	Dec. 31, 2010 Plaintiff	Dec. 31, 2009 USD ($) Plaintiff case plaintiff	Dec. 31, 2008 Plaintiff	Dec. 31, 2009 case	Dec. 31, 2009 Plaintiff	Dec. 31, 2009 Case	Dec. 31, 2004 plaintiff case	Jun. 30, 2023 USD ($)	Jan. 04, 2011 Plaintiff
Commitments Disclosure [Line Items]
Outstanding letters of credit and bonds | $																																																					$ 25,000,000
Number of plaintiffs (plaintiff)																921
Gain contingency, unrecorded amount | $					$ 100,000
Settlement offer per eligible plaintiff who has already filed a lawsuit | $														$ 700
Settlement offer per eligible plaintiff who has not already filed a lawsuit | $														$ 300
Number of firefighters considered as part of the settlement																2,160
Number of plaintiffs cases dismissed (plaintiff)										2
Circuit Court Of Cook County
Commitments Disclosure [Line Items]
Number of plaintiffs (plaintiff) | plaintiff																																																				2,443
Number of cases of plaintiff's claims (case)																																																27
Number of claimants settled (plaintiff)																																																						308
Number of new claims filed (case) | case																																															6					33
Court of Common Pleas, Philadelphia County
Commitments Disclosure [Line Items]
Number of plaintiffs (plaintiff)																																														1				71
Number of cases of plaintiff's claims (case)																																												2					3		4
Number of claims dismissed (case) | Case																																																			3
Damages maximum amount | $																																											$ 100,000
Number of claimants settled (plaintiff)																																																						1,125
Number of new claims filed (case) | Case																																																			71
Settlement Agreement
Commitments Disclosure [Line Items]
Number of plaintiffs (plaintiff)												1,069
Claims settled amount | $											$ 3,800,000
Percentage of claimants agreed for settlement											93.00%	95.00%
Percentage of claimants agreed for settlement as per settlement agreement											100.00%
Litigation settlement | $												$ 3,600,000
Supreme Court of Kings County New York
Commitments Disclosure [Line Items]
Number of new claims filed (case) | case																																																	4
SettlementAgreementVoidable
Commitments Disclosure [Line Items]
Percentage of claimants agreed for settlement as per settlement agreement	93.00%
SettlementAgreementVoid
Commitments Disclosure [Line Items]
Percentage of claimants agreed for settlement as per settlement agreement	70.00%
Settlement Candidates
Commitments Disclosure [Line Items]
Number of plaintiffs (plaintiff)	462																																								1,090
Erie County Firefighter Plaintiffs
Commitments Disclosure [Line Items]
Number of plaintiffs (plaintiff) | plaintiff		28																											33
Chicago Firefighter Plaintiffs
Commitments Disclosure [Line Items]
Number of plaintiffs (plaintiff)						1,770
Responsive Settlement Candidates
Commitments Disclosure [Line Items]
Number of plaintiffs (plaintiff)																																									717
Lackawanna Firefighter Plaintiffs | Lackawanna County Pennsylvania [Member]
Commitments Disclosure [Line Items]
Number of plaintiffs (plaintiff)																			70
Number of new claims filed (case)																			5
Outside Chicago Firefighter Plaintiffs
Commitments Disclosure [Line Items]
Number of plaintiffs (plaintiff)				10				1,800
Outside Chicago Firefighter Plaintiffs | Circuit Court Of Cook County
Commitments Disclosure [Line Items]
Number of plaintiffs (plaintiff) | plaintiff																																																				1,800
Outside Chicago Firefighter Plaintiffs | CookCountyandDupageCounty
Commitments Disclosure [Line Items]
Litigation settlement | $	$ 200,000												$ 200,000
Pennsylvania Firefighter Plaintiffs | Circuit Court Of Cook County
Commitments Disclosure [Line Items]
Number of plaintiffs (plaintiff) | plaintiff																																										74					299
Chicago Firefighter Plaintiffs
Commitments Disclosure [Line Items]
Number of plaintiffs (plaintiff)										3																				3	8
Chicago Firefighter Plaintiffs | Maximum
Commitments Disclosure [Line Items]
Number of plaintiffs (plaintiff)																																															40
Chicago Firefighter Plaintiffs | Circuit Court Of Cook County
Commitments Disclosure [Line Items]
Number of plaintiffs (plaintiff)																																															9
Litigation settlement | $																																									$ 700						$ 400,000
Philadelphia Firefighter Plaintiffs | Court of Common Pleas, Philadelphia County
Commitments Disclosure [Line Items]
Number of plaintiffs (plaintiff)		75					55										1				4				7	70		3									20				100				9	9
Number of claims dismissed (case) | case																																					5
Number of new claims filed (case)							4																				2							9			20
District of Columbia Firefighter Plaintiffs | Federal Court, Eastern District of Pennsylvania
Commitments Disclosure [Line Items]
Number of plaintiffs (plaintiff)																										11								193
Number of new claims filed (case) | case																									1
Outside Pennsylvania Firefighter Plaintiffs | Court of Common Pleas, Philadelphia County
Commitments Disclosure [Line Items]
Number of new claims filed (case) | Case																																							2
Pittsburgh Firefighter Plaintiffs | Allegheny County, Pennsylvania
Commitments Disclosure [Line Items]
Number of plaintiffs (plaintiff)																						19										247				8				6
Number of claims dismissed (case)																						55
Number of new claims filed (case)																						2
Pittsburgh Firefighter Plaintiffs | Dismissed | Allegheny County, Pennsylvania
Commitments Disclosure [Line Items]
Number of plaintiffs (plaintiff) | plaintiff																		2
Pittsburgh Firefighter Plaintiffs | Remaining | Allegheny County, Pennsylvania
Commitments Disclosure [Line Items]
Number of plaintiffs (plaintiff)																		4
Buffalo Firefighter Plaintiffs | Supreme Court of State of New York Erie County
Commitments Disclosure [Line Items]
Number of plaintiffs (plaintiff)									193
Number of new claims filed (case) | case									20
New York City Firefighter Plaintiffs
Commitments Disclosure [Line Items]
Number of plaintiffs (plaintiff)															1	1
New York City Firefighter Plaintiffs | Supreme Court of State of New York, New York County
Commitments Disclosure [Line Items]
Number of plaintiffs (plaintiff)		536																						1														235
Number of new claims filed (case) | Case																																						29
New York Kings County Firefighter Plaintiffs
Commitments Disclosure [Line Items]
Number of plaintiffs (plaintiff)			1
New Jersey Firefighter Plaintiffs
Commitments Disclosure [Line Items]
Number of plaintiffs (plaintiff)		61
Number of new claims filed (case) | Case																																	8
New Jersey Firefighter Plaintiffs | Superior Court of New Jersey, Union County
Commitments Disclosure [Line Items]
Number of plaintiffs (plaintiff)																				1			34
Massachusetts Firefighter Plaintiffs
Commitments Disclosure [Line Items]
Number of plaintiffs (plaintiff) | plaintiff		218																																	194
Number of new claims filed (case) | Case																																			9
Erie County Firefighter Plaintiffs | Court of Common Pleas, Philadelphia County
Commitments Disclosure [Line Items]
Number of plaintiffs (plaintiff)																													61
Florida Firefighters Plaintiffs
Commitments Disclosure [Line Items]
Number of plaintiffs (plaintiff) | $		166
Property Lease Guarantee
Commitments Disclosure [Line Items]
Guarantor obligation, single year maximum cash payments | $																																																					1,900,000
Guarantor obligation, maximum potential cash payments | $																																																					1,900,000
Property Lease Guarantee | Affiliated Entity
Commitments Disclosure [Line Items]
Guarantor obligation, maximum potential cash payments | $																																																					$ 1,000,000

v3.23.2

Earnings Per Share - Reconciliation of Net Income to Basic and Diluted EPS (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Earnings Per Share [Abstract]
Net income	$ 40.3	$ 33.5	$ 67.7	$ 54.0
Weighted average shares outstanding - Basic (shares)	60.7	60.4	60.7	60.6
Dilutive effect of common stock equivalents (shares)	0.7	0.5	0.7	0.5
Weighted average shares outstanding - Diluted (shares)	61.4	60.9	61.4	61.1
Basic earnings per share:
Earnings per share (usd per share)	$ 0.66	$ 0.55	$ 1.12	$ 0.89
Diluted earnings per share:
Earnings per share (usd per share)	$ 0.66	$ 0.55	$ 1.10	$ 0.88

v3.23.2

Earnings Per Share - Additional Information (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Employee Stock Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from the calculation of diluted EPS (shares)	0.1	0.3	0.0	0.2

v3.23.2

Stockholders' Equity - Changes in Each Component of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			$ (84.0)
Net current-period other comprehensive income (loss)	$ 3.7	$ (6.3)	4.3	$ (4.8)
Ending balance	(79.7)		(79.7)
Actuarial Losses
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(68.6)	(66.9)	(68.6)	(67.9)
Other comprehensive (loss) income before reclassifications	(0.5)	1.3	(0.9)	1.8
Amounts reclassified from accumulated other comprehensive loss	0.4	0.5	0.8	1.0
Net current-period other comprehensive income (loss)	(0.1)	1.8	(0.1)	2.8
Ending balance	(68.7)	(65.1)	(68.7)	(65.1)
Prior Service Costs
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(2.0)	(2.4)	(2.0)	(2.4)
Other comprehensive (loss) income before reclassifications	0.0	0.2	0.0	0.2
Amounts reclassified from accumulated other comprehensive loss	0.0	0.1	0.0	0.1
Net current-period other comprehensive income (loss)	0.0	0.3	0.0	0.3
Ending balance	(2.0)	(2.1)	(2.0)	(2.1)
Currency Translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(14.5)	(5.0)	(16.0)	(3.4)
Other comprehensive (loss) income before reclassifications	3.2	(8.6)	4.7	(10.2)
Amounts reclassified from accumulated other comprehensive loss	0.0	0.0	0.0	0.0
Net current-period other comprehensive income (loss)	3.2	(8.6)	4.7	(10.2)
Ending balance	(11.3)	(13.6)	(11.3)	(13.6)
Interest Rate Swaps
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	1.7	1.6	2.6	(0.5)
Other comprehensive (loss) income before reclassifications	1.1	0.1	0.7	2.0
Amounts reclassified from accumulated other comprehensive loss	(0.5)	0.1	(1.0)	0.3
Net current-period other comprehensive income (loss)	0.6	0.2	(0.3)	2.3
Ending balance	2.3	1.8	2.3	1.8
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(83.4)	(72.7)	(84.0)	(74.2)
Other comprehensive (loss) income before reclassifications	3.8	(7.0)	4.5	(6.2)
Amounts reclassified from accumulated other comprehensive loss	(0.1)	0.7	(0.2)	1.4
Net current-period other comprehensive income (loss)	3.7	(6.3)	4.3	(4.8)
Ending balance	$ (79.7)	$ (79.0)	$ (79.7)	$ (79.0)

v3.23.2

Stockholders' Equity - Reclassifications from Accumulated Other Comprehensive Loss (Details) - Amount Reclassified from Accumulated Other Comprehensive Loss - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amortization of actuarial losses of defined benefit pension plans	$ (0.6)	$ (0.7)	$ (1.1)	$ (1.4)
Amortization of prior service costs of defined benefit pension plans	0.0	(0.1)	0.0	(0.1)
Interest rate swaps	0.7	(0.1)	1.4	(0.3)
Total before tax	0.1	(0.9)	0.3	(1.8)
Income tax (expense) benefit	0.0	0.2	(0.1)	0.4
Total reclassifications for the period, net of tax	$ 0.1	$ (0.7)	$ 0.2	$ (1.4)

v3.23.2

Stockholders' Equity - Additional Information (Details) - USD ($)	3 Months Ended				6 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Mar. 13, 2020
Dividends Payable [Line Items]
Cash dividends declared per common share (usd per share)		$ 0.10	$ 0.09	$ 0.09	$ 0.19	$ 0.18
Cash dividends paid to stockholders		$ 6,100,000	$ 5,500,000	$ 5,400,000	$ 11,600,000	$ 10,900,000
Equity, Class of Treasury Stock [Line Items]
Number of shares repurchased		0		77,011		472,381
Treasury stock purchases				$ 2,500,000	$ 0	$ 16,100,000
Subsequent Event
Dividends Payable [Line Items]
Cash dividends declared per common share (usd per share)	$ 0.10
March 2020 Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount							$ 75,000,000

v3.23.2

Segment Information - Summary of Net Sales, Operating Income (Loss), and Total Assets by Segment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Segment Reporting Information [Line Items]
Total net sales	$ 442.4	$ 366.7	$ 827.9	$ 696.9
Total operating income	59.4	46.2	98.9	74.7
Interest expense	5.6	1.9	10.3	3.2
Other expense (income), net	1.1	(0.3)	1.2	(0.7)
Income before income taxes	52.7	44.6	87.4	72.2
Total assets	1,660.7		1,660.7		$ 1,524.3
Environmental Solutions
Segment Reporting Information [Line Items]
Total net sales	373.0	306.3	691.8	580.5
Total operating income	56.2	39.1	93.8	65.9
Environmental Solutions | Continuing Operations
Segment Reporting Information [Line Items]
Total assets	1,334.2		1,334.2		1,206.4
Safety and Security Systems
Segment Reporting Information [Line Items]
Total net sales	69.4	60.4	136.1	116.4
Total operating income	14.1	10.3	26.2	18.2
Safety and Security Systems | Continuing Operations
Segment Reporting Information [Line Items]
Total assets	283.6		283.6		279.3
Corporate And Eliminations
Segment Reporting Information [Line Items]
Total operating income	(10.9)	$ (3.2)	(21.1)	$ (9.4)
Corporate And Eliminations | Continuing Operations
Segment Reporting Information [Line Items]
Total assets	$ 42.9		$ 42.9		$ 38.6

v3.23.2

Segment Information - Additional Information (Details)	6 Months Ended
	Jun. 30, 2023 Segment
Segment Reporting Information [Line Items]
Number of reportable segments	2

v3.23.2

Fair Value Measurements - Asset and Liabilities Measured at Fair Value (Details) - Fair Value, Measurements, Recurring $ in Millions	Jun. 30, 2023 USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	$ 13.5
Estimated fair value of additional consideration (a)	10.5
Derivative Asset	0.6
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	13.5
Estimated fair value of additional consideration (a)	0.0
Derivative Asset	0.0
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	0.0
Estimated fair value of additional consideration (a)	0.0
Derivative Asset	0.6
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	0.0
Estimated fair value of additional consideration (a)	10.5
Derivative Asset	$ 0.0

v3.23.2

Fair Value Measurements - Roll-Forward of Fair Value of Recurring Level 3 Fair Value Measurements (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Settlements of contingent consideration liabilities			$ (0.5)	$ 0.0
Issuance of contingent consideration in connection with acquisitions	$ 4.5	$ 0.0	8.5	0.0
Contingent consideration liability	10.5	2.7	10.5	2.7
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Contingent consideration liability, beginning balance	6.0	2.7	2.7	2.7
Issuance of contingent consideration in connection with acquisitions	4.5	0.0	8.5	0.0
Settlements of contingent consideration liabilities			(0.5)	0.0
Total losses included in earnings			(0.2)	0.0
Contingent consideration liability, ending balance	$ 10.5	$ 2.7	$ 10.5	$ 2.7

v3.23.2

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jan. 03, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Settlements of contingent consideration liabilities	$ (0.5)	$ 0.0
Blasters [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration maximum			$ 8.0
Maximum | Deist
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration maximum	$ 7.5

v3.23.2

Subsequent Events (Details)	Apr. 03, 2023 CAD ($)	Apr. 03, 2023 USD ($)	Oct. 03, 2022 USD ($)	Apr. 03, 2023 USD ($)
TowHaul Corporation
Subsequent Event [Line Items]
Total consideration			$ 43,300,000
Trackless
Subsequent Event [Line Items]
Total consideration	$ 57,300,000	$ 42,600,000
Contingent consideration maximum	$ 6,000,000			$ 4,500,000

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