Slides
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February 18, 2026 4Q 2025 Earnings Presentation
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2©Verisk Analytics, Inc. All rights reserved. Forward-Looking Statements, Safe Harbor, and Non-GAAP Financial Measures Forward-Looking Statements This release contains forward-looking statements about Verisk’s future performance, including those related to our financial guidance and recently announced pending acquisitions. These statements relate to future events or to future financial performance and involve known and unknown risks, uncertainties, and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements. This includes, but is not limited to, our expectation and ability to pay a cash dividend on our common stock in the future, subject to the determination by our Board of Directors and based on an evaluation of our earnings, financial condition and requirements, business conditions, capital allocation determinations, and other factors, risks, and uncertainties. In some cases, you can identify forward-looking statements by the use of words such as “may,” “could,” “expect,” “intend,” “plan,” “target,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” or “continue” or the negative of these terms or other comparable terminology. You should not place undue reliance on forward-looking statements, because they involve known and unknown risks, uncertainties, and other factors that are, in some cases, beyond our control and that could materially affect actual results, levels of activity, performance, or achievements. Other factors that could materially affect actual results, levels of activity, performance, or achievements can be found in our quarterly reports on Form 10-Q, annual reports on Form 10-K, and current reports on Form 8-K filed with the Securities and Exchange Commission. If any of these risks or uncertainties materialize or if our underlying assumptions prove to be incorrect, actual results may vary significantly from what we projected. Any forward-looking statement in this release reflects our current views with respect to future events and is subject to these and other risks, uncertainties, and assumptions relating to our operations, results of operations, growth strategy, and liquidity. We assume no obligation to publicly update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise except as required by applicable securities laws. Notes Regarding the Use of Non-GAAP Financial Measures We have provided certain non-GAAP financial information as supplemental information regarding our operating results. These measures are not in accordance with, or an alternative for, U.S. GAAP and may be different from non-GAAP measures reported by other companies. We believe that our presentation of non-GAAP measures provides useful information to management and investors regarding certain financial and business trends relating to our financial condition and results of operations. In addition, our management uses these measures for reviewing our financial results, for budgeting and planning purposes, and for evaluating the performance of senior management. 4Q 2025 Earnings Presentation
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3©Verisk Analytics, Inc. All rights reserved. FY 2025 Key Takeaways 4Q 2025 Earnings Presentation • Delivered OCC revenue growth of 6.6% – Underwriting OCC growth of 7.0% – Claims OCC growth of 5.7% • Drove 8.5% OCC adjusted EBITDA growth • Achieved adjusted EBITDA margins of 56.2%, an expansion of 150 bps – Margins included 40 bps of benefit from FX translation – Normalized margins of 55.8% • Generated $1,192M of free cash flow for the year, demonstrating the strong FCF generation of our business model • Returned $875M to shareholders through dividends and repurchases
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4©Verisk Analytics, Inc. All rights reserved. 4Q 2025 Key Takeaways 4Q 2025 Earnings Presentation • Grew OCC revenue 5.2% – Underwriting OCC growth of 7.2% – Claims OCC growth of 0.5% • Drove 6.2% OCC adjusted EBITDA growth • Achieved adjusted EBITDA margins of 56.1%, an expansion of 200 bps while continuing to reinvest in the business – Margins included ~50 bps of benefit from FX translation • Generated $276M of free cash flow in the quarter, demonstrating the strong FCF generation of our business model • Divested Verisk Marketing Solutions • Returned $286M to shareholders through dividends and repurchases
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5©Verisk Analytics, Inc. All rights reserved. FY 2025 Financial Summary 4Q 2025 Earnings Presentation 81% 79% 17% 2Q 2024 2Q 2023 17% Revenue Adj EBITDA Adj EBITDA Margin Diluted Adj EPS Free Cash Flow $3,073M $1,727M 56.2% $7.16 $1,192M +6.6% (OCC) +8.5% (OCC) +150bps +7.8% +29.5% Underwriting Claims +7.0% +5.7% OCC OCC Subscription Transactional +9.1% -4.3% OCC OCC 1. See the Appendix for reconciliation to all non-GAAP measures 2. OCC is organic constant currency Domestic International 82% 18% of Total Revenue of Total Revenue Subscription Transactional 83% 17% of Total Revenue of Total Revenue
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6©Verisk Analytics, Inc. All rights reserved. 4Q 2025 Financial Summary 4Q 2025 Earnings Presentation 81% 79% 17% 2Q 2024 2Q 2023 17% Revenue Adj EBITDA Adj EBITDA Margin Diluted Adj EPS Free Cash Flow $779M $437M 56.1% $1.82 $276M +5.2% (OCC) +6.2% (OCC) +200bps +13.0% +38.0% Underwriting Claims +7.2% +0.5% OCC OCC Subscription Transactional +7.7% -6.5% OCC OCC 1. See the Appendix for reconciliation to all non-GAAP measures 2. OCC is organic constant currency Domestic International 82% 18% of Total Revenue of Total Revenue Subscription Transactional 84% 16% of Total Revenue of Total Revenue
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Financial Results
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8©Verisk Analytics, Inc. All rights reserved. Financial Results ($ in millions except per share amounts) Financial Results 81% 79% 2Q 2023 17% 2Q 2024 2Q 2023 17% Revenue Adjusted EBITDA Adjusted EBITDA Margin Diluted GAAP EPS Diluted Adj EPS Free Cash Flow $779M 437 56.1% $1.42 $1.82 $276M 4Q244Q25 YoY Change $736M 398 54.1% $1.44 $1.61 $200M 5.9% 9.8% 200 bps -1.4% 13.0% 38.0% 1. See the Appendix for reconciliation to all non-GAAP measures 2. 2024 reported results include the results of previously disposed AER 3. 2024 and 2025 reported results include the results from recently disposed VMS. 5.2% 6.2% - - - - OCC Growth
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9©Verisk Analytics, Inc. All rights reserved. Revenue Breakdown ($ in millions) Financial Results 81% 79% 2Q 2024 2Q 2023 17% 2Q 2024 2Q 2023 17% OCC Growth Rates 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 Underwriting 7.8% 6.0% 6.5% 7.0% 7.2% 7.7% 5.8% 7.2% Claims 4.7% 5.8% 7.4% 12.7% 9.6% 8.3% 5.0% 0.5% Total 6.9% 6.0% 6.8% 8.6% 7.9% 7.9% 5.5% 5.2% $498 $508 $507 $512 $532 $550 $542 $556 $206 $209 $218 $224 $221 $223 $226 $223 $704 $717 $725 $736 $753 $773 $768 $779 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 Underwriting Claims Total
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10©Verisk Analytics, Inc. All rights reserved. Subscription vs. Transactional Growth Organic Constant Currency (OCC) Financial Results OCC Growth Subscription Transactional Total 4Q23 7.3% 0.8% 6.0% FY23 8.6% 9.2% 8.7% 1Q24 7.8% 3.1% 6.9% 2Q24 8.3% (3.0)% 6.0% 3Q24 9.1% (2.5)% 6.8% 4Q24 11.0% (1.1)% 8.6% FY24 9.1% (1.0)% 7.1% 1Q25 10.6% (4.0)% 7.9% 2Q25 9.3% 1.8% 7.9% 3Q25 8.7% (8.8)% 5.5% 4Q25 7.7% (6.5)% 5.2% FY25 9.1% (4.3)% 6.6% 4Q25 Highlights • Total revenue growth of 5.2% – Solid growth in Underwriting offset by moderate growth in Claims due to continued weather impacts • Subscription revenue growth of 7.7% – Continued strong renewals and new client additions in our largest subscription businesses including Core Lines, Catastrophe and Risk Solutions and Anti-Fraud – Double-digit growth in Catastrophe and Risk Solutions, Specialty Business and Life Solutions • Transactional revenue decline of 6.5% – Lower transactional volumes in Property Estimating due to lower levels of weather-related activity – Continued pressure in certain Auto solutions – Lower services revenues in Specialty Business due to project completions
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11©Verisk Analytics, Inc. All rights reserved. Adjusted EBITDA & Adjusted EBITDA Margin Financial Results Adjusted EBITDA Total Adjusted EBITDA Margin 1. See the Appendix for reconciliation to all non-GAAP measures ($ in million USD) $380 $397 $401 $398 $417 $445 $429 $437 10.6% 8.5% 7.2% 13.5% 9.5% 9.7% 8.8% 6.2% 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 Adj. EBITDA OCC Growth 54.0% 55.4% 55.2% 54.1% 55.3% 57.6% 55.8% 56.1% 53.9% 54.3% 54.6% 54.7% 55.0% 55.6% 55.7% 56.2% 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 Quarterly Margin TTM Margin
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12©Verisk Analytics, Inc. All rights reserved. 2026 Outlook Financial Results 81% 2Q 2023 17% 2Q 2024 2Q 2023 17% 1. Our 2025 results include the now divested Verisk Marketing Solutions which contributed $68M in revenue in 2025. Note: See the Appendix for reconciliation to all non-GAAP measures Metric 2025 Results(1) 2026 Guidance Total Revenue $3,073M $3,190 – $3,240M Adjusted EBITDA $1,727M $1,790 – $1,830M Adjusted EBITDA margin 56.2% 56.0% – 56.5% Diluted Adjusted EPS $7.16 $7.45 – $7.75 Tax rate 22.5% 23% – 26% Capex $244M $260 – $280M Fixed asset D&A $259M $270 – $290M Intangible amortization $68M $60M Interest Expense $171M $190 – $200M Dividend Per Share $1.80 $2.00
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Cash Flow and Capital
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14©Verisk Analytics, Inc. All rights reserved. Recent Capital Actions Cash Flow and Capital Debt • Redeemed debt issued in connection with Acculynx transaction on January 6, 2026 • $750M of 4.5% senior notes due 2030 • $750M of 5.125% senior notes due 2036 Share Repurchase • Repurchased $224M of shares in 4Q25 • Announced intention to execute $1.5B Accelerated Share Repurchase Program in near term Dividend • Paid dividend of $0.45 a share in 4Q25, totaling $63M • Announced 11% increase in dividend for 2026 to $0.50 per share quarterly or $2.00 per share annually
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©Verisk Analytics, Inc. All rights reserved. $600M $500M $600M $700M $350M $500M $1,250M $750M $750M $0M $200M $400M $600M $800M $1,000M $1,200M $1,400M 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2044 2045 2046 2049 2050 2051 Public Bonds Undrawn Revolver Retired Bonds Capital Structure 1. Total debt excludes finance lease liabilities, any issued letters of credit, and issued surety bonds and is the balance as of 12/31/2025. 2. Pro Forma Debt reflects the retirement of $1,500M senior notes on January 6, 2026. 3. Debt/EBITDA is based on debt level as of 12/31/2025 and LTM Adjusted EBITDA. 4. Pro Forma Debt/EBITDA is based on current debt levels as of February 18, 2026, reflecting the retirement of $1,500M senior no tes on January 6, 2026 and LTM Adjusted EBITDA. (in $ millions) as of Dec 31, 2025 Bonds $4,750M Revolver Drawn **$XXXM- Total Debt1 $4,750M Retired Debt ($1,500)M Pro Forma Debt2 *$3,250M Debt/EBITDA3 2.8x Pro Forma Debt/EBITDA4 1.9x Investment Grade Ratings Moody’s Baa1 S&P BBB 15 Cash Flow and Capital
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16©Verisk Analytics, Inc. All rights reserved. 1. Dividend per share is the annual dividend amount paid quarterly. 2. Dividend payout ratio is calculated as dividend per share divided by diluted adjusted earnings per share. 3. 2022 includes the cash proceeds from the disposition of 3E and Verisk Financial Services. 4. 2023 includes the cash proceeds from the disposition of our Energy business. 5. 2026E dividend payout ratio is calculated using the FY guided dividend and the midpoint of 2026 Diluted Adjusted EPS guidance range. 6. 2026 shares repurchase includes $1.5B ASR announced and to be executed in 1Q. Commitment to Returning Capital Dividends & Share Buybacks since Dividend Initiation Year Dividend Per Share1 YoY Growth (%) Payout Ratio2 (%) 2019 $1.00 -- 23% 2020 $1.08 8% 21% 2021 $1.16 7% 22% 20223 $1.24 7% 25% 20234 $1.36 10% 24% 2024 $1.56 15% 23% 2025 $1.80 15% 25% 2026E5 $2.00 11% 26% Year Share Repurchase ($M) % of Shares Outstanding Free Cash Flow 2019 $300M 1.3% $740M 2020 $349M 1.3% $821M 2021 $475M 1.5% $887M 20223 $1,663M 5.3% $784M 20234 $2,800M 8.1% $831M 2024 $1,050M 2.7% $920M 2025 $624M 1.8% $1,192M 20266 $$1,500M --% $--M Dividends Share Repurchase 16 Cash Flow and Capital
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17©Verisk Analytics, Inc. All rights reserved. Cash Flow Utilization Cash Flow and Capital 1. Includes acquisition-related earnout payments from operating activities 2. Cash flow measures follow GAAP view and includes the impact from recent dispositions, including discontinued operations 3. Includes acquisitions and purchase of controlling interest, proceeds from sale of businesses, investments in nonpublic compan ies, and proceeds received upon settlement of investment in non-public companies 4. Includes shares repurchased but not yet settled. (in $ millions) 2024 2025 4Q24 4Q25 Net cash provided by operating activities1,2 $1,144M $1,436M $255M $343M Capital expenditures (224)M (244)M (55)M (67)M Free cash flow (FCF) 920M 1,192M 200M 276M Acquisitions and divestitures3 95M (111)M 7M 82M Net debt borrowings (repayments) 189M 1,671M —M 0M Repurchases of common stock4 (1,050)M (624)M (300)M (224)M Dividends paid (221)M (251)M (55)M (63)M Cash and cash equivalents 291M 2,178M 291M 2,178M
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Appendix: Supplemental Slides and/or Non-GAAP Reconciliations
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19©Verisk Analytics, Inc. All rights reserved. Underwriting 71% Claims 29% Forms, Rules, and Loss Costs 32% Underwriting Data Analytics Solutions 14% Life Solutions 4% Verisk Marketing Solutions 2% UWS International 2% Catastrophe and Risk Solutions 13% Specialty Business Solutions 4% Property Estimating Solutions 14% Anti-Fraud 10% Casualty 3% Claims International 3% Percentage totals in this presentation may not sum due to rounding. Note: Verisk Marketing Solutions was divested at the end of 2025. 2025 Revenue Contribution Appendix $3.07B Revenue
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20©Verisk Analytics, Inc. All rights reserved. Revenue & Adjusted EBITDA Appendix 1. See the Appendix for reconciliation to all non-GAAP measures OCC Revenue Growth OCC Adj. EBITDA growth: Adj. EBITDA Margin: 7.1% 9.9% 54.7% $ in million USD 6.6% 8.5% 56.2% OCC Revenue Growth OCC Adj. EBITDA growth: Adj. EBITDA Margin: OCC Revenue Growth OCC Adj. EBITDA growth: Adj. EBITDA Margin: 8.7% 11.5% 53.5% $2,681 $2,882 $3,073 $1,434 $1,576 $1,727 FY23 FY24 FY25 Revenue Adj. EBITDA
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21©Verisk Analytics, Inc. All rights reserved. Non-GAAP Reconciliations We have provided certain non-GAAP financial information as supplemental information regarding our operating results. These measures are not in accordance with, or an alternative for, U.S. GAAP and may be different from non-GAAP measures reported by other companies. We believe that our presentation of non-GAAP measures provides useful information to management and investors regarding certain financial and business trends relating to our financial condition and results of operations. In addition, our managem ent uses these measures for reviewing our financial results, for budgeting and planning purposes, and for evaluating the performance of senior management. EBITDA, Adjusted EBITDA, and Adjusted EBITDA Expenses EBITDA represents GAAP net income adjusted for (i) depreciation and amortization of fixed assets; (ii) amortization of intangible assets; (iii) interest expense, net; and (iv) provision for income taxes. Adjusted EBITDA represents EBITDA adjusted for acquisition-related adjustments (earn-outs), gain/loss from dispositions (which includes businesses held for sale), and nonrecurring gain/loss. Adjusted EBITDA expenses represent adjusted EBITDA net of revenues. We believe these measures are useful and meaningful becau se they allow for greater transparency regarding our operating performance and facilitate period-to-period comparison. We are not able to provide a reconciliation of projected Adjusted EBITDA and Adjusted EBITDA margin to the most directly comp arable expected GAAP results because of the unreasonable effort and high unpredictability of estimating certain items that are excluded from non-GAAP Adjusted EBITDA and Adjusted EBITDA margin, including, for example, tax consequences, acquisition -related costs, gain/loss from dispositions and other non-recurring expenses, the effect of which may be significant. Adjusted Net Income and Diluted Adjusted EPS Adjusted net income represents GAAP net income adjusted for (i) amortization of intangible assets, net of tax ; (ii) acquisition-related adjustments (earn-outs), net of tax; (iii) gain/loss from dispositions (which includes businesses held for sale), net of tax; and (iv) nonrecurring gain/loss, net of tax. Diluted adjusted EPS represents adjusted net income divided by weighted- average diluted shares. We believe these measures are useful and meaningful because they allow evaluation of the after- tax profitability of our results excluding the after-tax effect of acquisition-related costs and nonrecurring items. Free Cash Flow Free cash flow represents net cash provided by operating activities determined in accordance with GAAP minus payments for cap ital expenditures. We believe free cash flow is an important measure of the recurring cash generated by our operations that may be available to repay debt obligations, repurchase our stock, invest in future growth through new business development activities, or make acquisitions. Organic Organic is defined as operating results excluding the effect of recent acquisitions and dispositions (which include businesses h eld for sale), and nonrecurring gain/loss associated with cost-based and equity-method investments that have occurred over the past year. An acquisition is included as organic at the beginning of the calendar quarter that occurs subsequent to the one- year anniversary of the acquisition date. Once an acquisition is included in its current-period organic base, its comparable prior-year-period operating results are also included to calculate organic growth. A disposition (which includes a business held for sale) is excluded from organic at the beginning of the calendar quarter in which the disp osition occurs (or when a business meets the held-for-sale criteria under U.S. GAAP). Once a disposition is excluded from its current-period organic base, its comparable prior-year-period operating results are also excluded to calculate organic growth. We believe the organic presentation enables investors to assess the growth of the business without the impact of recent acquisitions for which there is no prior-year comparison and the impact of recent dispositions, for which results are removed from all prior periods presented to allow for comparability. Organic Constant Currency (OCC) Growth Rate Organic Constant Currency (OCC) Growth Rate: Our operating results, such as, but not limited to, revenue and adjusted EBITDA, reported in U.S. dollars are affected by foreign currency exchange rate fluctuations because the underlying foreign currencies in which we transact changes in value over time compared with the U.S. dollar; accordingly, we present certain constant currency financial information to assess how we performed excluding the impact of foreign currency exchange rate fluctuations. We calculate constan t currency by translating comparable prior-year-period results at the currency exchange rates used in the current period. We believe organic constant currency is a useful and meaningful measure t o enhance investors’ understanding of the continuing operating performance of our business and to facilitate the comparison of period-to-period performance because it excludes the impact of foreign exchange rate movements, acquisitions, and dispositions. Specified Metrics Appendix
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22©Verisk Analytics, Inc. All rights reserved. Segment Results Summary and Adjusted EBITDA Reconciliation 4Q25 4Q24 Revenues $778.8M $735.6M Revenues from acquisitions and dispositions (24.1) (21.1) Organic revenues 754.7 714.5 EBITDA 380.7 386.0 Acquisition-related earns-outs, net 6.8 1.1 Acquisition-related fees 12.3 — Net loss on early extinguishment of debt 15.0 — Leasehold impairment from space reduction 2.3 — Impairment of cost-based investment — 0.7 Net gain upon settlement of investment in non-public companies — (2.3) Loss directly related to the dispositions from continuing operations 19.5 12.1 Adjusted EBITDA 436.6 397.6 Adjusted EBITDA from acquisitions and disposition (7.9) (5.3) Organic adjusted EBITDA 428.7 392.3 Non-GAAP Reconciliations Segment Results and EBITDA | Current and Prior-Year Period Appendix
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23©Verisk Analytics, Inc. All rights reserved. Non-GAAP Reconciliations Adjusted Net Income/EPS and Free Cash Flow | Current and Prior-Year Period Free Cash Flow 4Q25 4Q24 Net cash provided by operating activities $343.3M 255.4M Capital expenditures (67.2) (55.4) Free cash flow 276.1 200.0 Appendix Adjusted Net Income and EPS 4Q25 4Q24 Net income $197.2M $210.3M less: (Income) loss from discontinued operations 0.0 (6.8) Income from continuing operations 197.2 203.5 plus: Amortization of intangibles 17.1 17.3 less: Income tax effect on amortization of intangibles (4.4) (4.5) plus: Impairment of cost-based investments — 0.7 less: Income tax effect on impairment of cost-based investments — (0.2) plus: Acquisition-related earn-outs, net 6.8 1.1 less: Income tax effect on acquisition-related earn-outs, net (1.4) — plus: Acquisition-related fees 12.3 — less: Income tax effect on acquisition-related fees (3.1) — less: Net loss on early extinguishment of debt 15.0 — plus: Income tax effect on net loss on early extinguishment of debt (3.8) — plus: Leasehold impairment from space reduction 2.3 — less: Income tax effect on leasehold impairment from space reduction (0.6) — less: Net gain upon settlement of investment in non-public companies — (2.3) plus: Income tax effect on net gain upon settlement of investment in non-public companies — 0.6 plus: Loss directly related to dispositions from continuing operations 19.5 12.1 less: Income tax effect on loss directly related to dispositions from continuing operations (18.0) (0.8) plus: Impairment of debt issuance cost 18.9 — less: Income tax effect on impairment of debt issuance cost (4.7) — Adjusted net income 253.1 227.5 Diluted EPS attributable to Verisk $1.42 $1.44 Diluted adjusted EPS $1.82 $1.61 Weighted-average diluted shares outstanding 139.1M 141.6M
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24©Verisk Analytics, Inc. All rights reserved. Segment Results Summary and Adjusted EBITDA Reconciliation FY25 FY24 Revenues $3,072.7M $2,881.7M Revenues from acquisitions and dispositions (31.1) (35.9) Organic revenues 3,041.6 2,845.8 EBITDA 1,668.9 1,659.1 Acquisition-related earn-outs, net 7.3 1.1 Acquisition-related fees 16.2 — Net loss (gain) on early extinguishment of debt 15.0 (3.6) Leasehold impairment from space reduction 2.3 — Impairment of cost-based investments — 1.7 Net gain upon settlement of investment in non-public companies (2.1) (100.6) Nonoperational foreign currency loss on internal loan transaction — 4.2 Litigation reserve, net of recovery — (4.7) Leasehold impairment, net of lease modification gain — 6.7 Loss directly related to dispositions from continuing operations 19.5 12.1 Adjusted EBITDA 1,727.1 1,576.0 Adjusted EBITDA from acquisitions and dispositions (10.8) (6.0) Organic adjusted EBITDA 1,716.3 1,570.0 Non-GAAP Reconciliations Segment Results and EBITDA Appendix
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25©Verisk Analytics, Inc. All rights reserved. Non-GAAP Reconciliations Adjusted Net Income/EPS and Free Cash Flow | Current and Prior-Year Period Appendix Free Cash Flow FY25 FY24 Net cash provided by operating activities1 $1,436.0M $1,144.0M Capital expenditures (244.1) (223.9) Free cash flow 1,191.9 920.1 1. Cash flow measures follow GAAP view and includes the impact from recent dispositions, including discontinued operations. Adjusted Net Income and EPS FY25 FY24 Net income $908.3M $957.5M less: (Income) loss from discontinued operations 0.0 (6.8) Income from continuing operations 908.3 950.7 plus: Amortization of intangibles 67.5 72.3 less: Income tax effect on amortization of intangibles (17.5) (18.8) plus: Impairment of cost-based investments — 1.7 less: Income tax effect on impairment of cost-based investments — (0.4) plus: Acquisition-related earn-outs, net 7.3 1.1 less: Income tax effect on acquisition-related earn-outs, net (1.8) — plus: Acquisition-related fees 16.2 — less: Income tax effect on acquisition-related fees (4.1) — less: Net loss (gain) on early extinguishment of debt 15.0 (3.6) plus: Income tax effect on net loss (gain) on early extinguishment of debt (3.8) 0.9 plus: Leasehold impairment from space reduction 2.3 — less: Income tax effect on leasehold impairment from space reduction (0.6) — plus: Nonoperational foreign currency loss on internal loan transaction — 4.2 loss: Income tax effect on nonoperational foreign currency loss on internal loan transaction — (1.0) plus: Litigation reserve, net of recovery — (4.7) less: Income tax effect on litigation reserve — 1.7 less: Net gain upon settlement of investment in non-public companies (2.1) (100.6) plus: Income tax effect on net gain upon settlement of investment in non- public companies 0.4 29.1 plus: Leasehold impairment, net of lease modification gain — 6.7 less: Income tax effect on leasehold impairment, net of lease modification gain — (1.7) plus: Loss directly related to dispositions from continuing operations 19.5 12.1 less: Income tax effect on loss directly related to dispositions from continuing operations (18.0) (0.8) plus: Impairment of debt issuance cost 18.9 — less: Income tax effect on impairment of debt issuance cost (4.7) — Adjusted net income 1,002.8 948.9 Diluted EPS attributable to Verisk $6.48 $6.66 Diluted adjusted EPS $7.16 $6.64 Weighted-average diluted shares outstanding 140.1M 142.8M