Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - LOUISIANA-PACIFIC CORP | d8k.htm |
| EX-99.1 - PRESS RELEASE - LOUISIANA-PACIFIC CORP | dex991.htm |
Exhibit 99.2
| (Dollar amounts in millions) | OSB | Siding | EWP | Other | Corporate | Total | ||||||||||||||||||
| Quarter Ended December 31, 2010 |
||||||||||||||||||||||||
| Sales | $ | 127.2 | $ | 102.8 | $ | 49.2 | $ | 37.5 | $ | (0.5 | ) | $ | 316.2 | |||||||||||
| Depreciation and amortization |
9.5 | 4.0 | 3.6 | 2.8 | 0.6 | 20.5 | ||||||||||||||||||
| Cost of sales and selling and administative |
127.7 | 87.1 | 50.9 | 33.1 | 17.3 | 316.1 | ||||||||||||||||||
| Gain on sale or impairment of long lived assets |
— | — | — | — | 0.3 | 0.3 | ||||||||||||||||||
| Other operating credits and charges, net |
— | — | — | — | (2.7 | ) | (2.7 | ) | ||||||||||||||||
| Total operating costs | 137.2 | 91.1 | 54.5 | 35.9 | 15.5 | 334.2 | ||||||||||||||||||
| (Loss) income from operations |
(10.0 | ) | 11.7 | (5.3 | ) | 1.6 | (16.0 | ) | (18.0 | ) | ||||||||||||||
| Total non-operating expense | 10.4 | 10.4 | ||||||||||||||||||||||
| Income (loss) before income taxes and equity in earnings of unconsolidated affiliates |
(10.0 | ) | 11.7 | (5.3 | ) | 1.6 | (5.6 | ) | (7.6 | ) | ||||||||||||||
| Benefit for income taxes |
(8.1 | ) | (8.1 | ) | ||||||||||||||||||||
| Equity in loss of unconsolidated affiliates |
2.6 | — | 0.2 | 0.1 | — | 2.9 | ||||||||||||||||||
| Income (loss) from continuing operations | $ | (12.6 | ) | $ | 11.7 | $ | (5.5 | ) | $ | 1.5 | $ | 2.5 | $ | (2.4 | ) | |||||||||
| Reconciliation of loss from continuing operations to EBITDA from continuing operations | ||||||||||||||||||||||||
| Income (loss) from continuing operations | $ | (12.6 | ) | $ | 11.7 | $ | (5.5 | ) | $ | 1.5 | $ | 2.5 | $ | (2.4 | ) | |||||||||
| Benefit for income taxes |
— | — | — | — | (8.1 | ) | (8.1 | ) | ||||||||||||||||
| Interest expense, net of capitalized interest |
— | — | — | — | 14.1 | 14.1 | ||||||||||||||||||
| Depreciation and amortization |
9.5 | 4.0 | 3.6 | 2.8 | 0.6 | 20.5 | ||||||||||||||||||
| EBITDA from continuing operations | $ | (3.1 | ) | $ | 15.7 | $ | (1.9 | ) | $ | 4.3 | $ | 9.1 | $ | 24.1 | ||||||||||
| Stock based compensation expense |
0.3 | 0.2 | 0.1 | — | 1.2 | 1.8 | ||||||||||||||||||
| (Gain) loss on sale or impairment of long lived assets |
0.3 | 0.3 | ||||||||||||||||||||||
| Investment income |
(4.3 | ) | (4.3 | ) | ||||||||||||||||||||
| Realized gain on sale of ARS securities |
(19.0 | ) | (19.0 | ) | ||||||||||||||||||||
| Other operating credits and charges, net |
(2.7 | ) | (2.7 | ) | ||||||||||||||||||||
| Adjusted EBITDA from continuing operations | $ | (2.8 | ) | $ | 15.9 | $ | (1.8 | ) | $ | 4.3 | $ | (15.4 | ) | $ | 0.2 | |||||||||
| Quarter Ended December 31, 2009 | ||||||||||||||||||||||||
| Sales | $ | 114.4 | $ | 87.3 | $ | 44.2 | $ | 31.1 | $ | (0.4 | ) | $ | 276.6 | |||||||||||
| Depreciation and amortization |
8.9 | 4.4 | 3.0 | 2.7 | 0.8 | 19.8 | ||||||||||||||||||
| Cost of sales and selling and administative |
120.3 | 78.4 | 49.9 | 30.3 | 19.9 | 298.8 | ||||||||||||||||||
| Gain on sale or impairment of long lived assets |
— | — | — | — | (0.4 | ) | (0.4 | ) | ||||||||||||||||
| Other operating credits and charges, net |
— | — | — | — | 8.9 | 8.9 | ||||||||||||||||||
| Total operating costs | 129.2 | 82.8 | 52.9 | 33.0 | 29.2 | 327.1 | ||||||||||||||||||
| (Loss) income from operations |
(14.8 | ) | 4.5 | (8.7 | ) | (1.9 | ) | (29.6 | ) | (50.5 | ) | |||||||||||||
| Total non-operating expense | (11.7 | ) | (11.7 | ) | ||||||||||||||||||||
| Income (loss) before income taxes and equity in earnings of unconsolidated affiliates |
(14.8 | ) | 4.5 | (8.7 | ) | (1.9 | ) | (41.3 | ) | (62.2 | ) | |||||||||||||
| Benefit for income taxes |
(17.6 | ) | (17.6 | ) | ||||||||||||||||||||
| Equity in loss of unconsolidated affiliates |
1.9 | — | 0.4 | (0.4 | ) | — | 1.9 | |||||||||||||||||
| Income (loss) from continuing operations | $ | (16.7 | ) | $ | 4.5 | $ | (9.1 | ) | $ | (1.5 | ) | $ | (23.7 | ) | $ | (46.5 | ) | |||||||
| Reconciliation of loss from continuing operations to EBITDA from continuing operations |
||||||||||||||||||||||||
| Income (loss) from continuing operations | $ | (16.7 | ) | $ | 4.5 | $ | (9.1 | ) | $ | (1.5 | ) | $ | (23.7 | ) | $ | (46.5 | ) | |||||||
| Benefit for income taxes |
— | — | — | — | (17.6 | ) | (17.6 | ) | ||||||||||||||||
| Interest expense, net of capitalized interest |
— | — | — | — | 18.8 | 18.8 | ||||||||||||||||||
| Depreciation and amortization |
8.9 | 4.4 | 3.0 | 2.7 | 0.8 | 19.8 | ||||||||||||||||||
| EBITDA from continuing operations | $ | (7.8 | ) | $ | 8.9 | $ | (6.1 | ) | $ | 1.2 | $ | (21.7 | ) | $ | (25.5 | ) | ||||||||
| Stock based compensation expense |
0.1 | 0.1 | 0.1 | — | 1.2 | 1.5 | ||||||||||||||||||
| (Gain) loss on sale or impairment of long lived assets |
(0.4 | ) | (0.4 | ) | ||||||||||||||||||||
| Investment income |
(6.6 | ) | (6.6 | ) | ||||||||||||||||||||
| Realized gain on sale of ARS |
(18.7 | ) | (18.7 | ) | ||||||||||||||||||||
| Other than temporary asset impairment |
0.2 | 0.2 | ||||||||||||||||||||||
| Early debt extinguishment |
21.1 | 21.1 | ||||||||||||||||||||||
| Other operating credits and charges, net |
8.9 | 8.9 | ||||||||||||||||||||||
| Adjusted EBITDA from continuing operations | $ | (7.7 | ) | $ | 9.0 | $ | (6.0 | ) | $ | 1.2 | $ | (16.0 | ) | $ | (19.5 | ) | ||||||||
| (Dollar amounts in millions) | OSB | Siding | EWP | Other | Corporate | Total | ||||||||||||||||||
| Year Ended December 31, 2010 | ||||||||||||||||||||||||
| Sales | $ | 602.7 | $ | 427.8 | $ | 192.0 | $ | 167.6 | $ | (6.5 | ) | $ | 1,383.6 | |||||||||||
| Depreciation and amortization |
37.4 | 18.1 | 13.1 | 11.1 | 2.3 | 82.0 | ||||||||||||||||||
| Cost of sales and selling and administative |
537.7 | 358.4 | 199.3 | 146.7 | 64.6 | 1,306.7 | ||||||||||||||||||
| Gain on sale or impairment of long lived assets |
— | — | — | — | 2.4 | 2.4 | ||||||||||||||||||
| Other operating credits and charges, net |
— | — | — | — | 0.1 | 0.1 | ||||||||||||||||||
| Total operating costs | 575.1 | 376.5 | 212.4 | 157.8 | 69.4 | 1,391.2 | ||||||||||||||||||
| Income (loss) from operations |
27.6 | 51.3 | (20.4 | ) | 9.8 | (75.9 | ) | (7.6 | ) | |||||||||||||||
| Total non-operating expense | (40.3 | ) | (40.3 | ) | ||||||||||||||||||||
| Income (loss) before income taxes and equity in earnings of unconsolidated affiliates |
27.6 | 51.3 | (20.4 | ) | 9.8 | (116.2 | ) | (47.9 | ) | |||||||||||||||
| Benefit for income taxes |
(22.1 | ) | (22.1 | ) | ||||||||||||||||||||
| Equity in (income) loss of unconsolidated affiliates |
1.8 | — | 0.9 | 3.7 | — | 6.4 | ||||||||||||||||||
| Income (loss) from continuing operations | $ | 25.8 | $ | 51.3 | $ | (21.3 | ) | $ | 6.1 | $ | (94.1 | ) | $ | (32.2 | ) | |||||||||
| Reconciliation of loss from continuing operations to EBITDA from continuing operations |
||||||||||||||||||||||||
| Income (loss) from continuing operations | $ | 25.8 | $ | 51.3 | $ | (21.3 | ) | $ | 6.1 | $ | (94.1 | ) | $ | (32.2 | ) | |||||||||
| Benefit for income taxes |
— | — | — | — | (22.1 | ) | (22.1 | ) | ||||||||||||||||
| Interest expense, net of capitalized interest |
— | — | — | — | 63.9 | 63.9 | ||||||||||||||||||
| Depreciation and amortization |
37.4 | 18.1 | 13.1 | 11.1 | 2.3 | 82.0 | ||||||||||||||||||
| EBITDA from continuing operations | $ | 63.2 | $ | 69.4 | $ | (8.2 | ) | $ | 17.2 | $ | (50.0 | ) | $ | 91.6 | ||||||||||
| Stock based compensation expense |
1.0 | 0.6 | 0.6 | — | 6.6 | 8.8 | ||||||||||||||||||
| (Gain) loss on sale or impairment of long lived assets |
2.4 | 2.4 | ||||||||||||||||||||||
| Other than temporary asset impairment |
17.0 | 17.0 | ||||||||||||||||||||||
| Investment income |
(19.4 | ) | (19.4 | ) | ||||||||||||||||||||
| Realized gain on sale of ARS |
(19.0 | ) | (19.0 | ) | ||||||||||||||||||||
| Other operating credits and charges, net |
0.1 | 0.1 | ||||||||||||||||||||||
| Adjusted EBITDA from continuing operations | $ | 64.2 | $ | 70.0 | $ | (7.6 | ) | $ | 17.2 | $ | (62.3 | ) | $ | 81.5 | ||||||||||
| Year Ended December 31, 2009 | ||||||||||||||||||||||||
| Sales | $ | 408.8 | $ | 379.4 | $ | 157.7 | $ | 117.0 | $ | (1.9 | ) | $ | 1,061.0 | |||||||||||
| Depreciation and amortization |
35.2 | 18.5 | 12.2 | 10.7 | 3.4 | 80.0 | ||||||||||||||||||
| Cost of sales and selling and administative |
430.6 | 331.6 | 177.7 | 104.1 | 71.2 | 1,115.2 | ||||||||||||||||||
| Gain on sale or impairment of long lived assets |
— | — | — | — | (2.5 | ) | (2.5 | ) | ||||||||||||||||
| Other operating credits and charges, net |
— | — | — | — | 1.6 | 1.6 | ||||||||||||||||||
| Total operating costs | 465.8 | 350.1 | 189.9 | 114.8 | 73.7 | 1,194.3 | ||||||||||||||||||
| Income (loss) from operations |
(57.0 | ) | 29.3 | (32.2 | ) | 2.2 | (75.6 | ) | (133.3 | ) | ||||||||||||||
| Total non-operating expense | (36.2 | ) | (36.2 | ) | ||||||||||||||||||||
| Income (loss) before income taxes and equity in earnings of unconsolidated affiliates |
(57.0 | ) | 29.3 | (32.2 | ) | 2.2 | (111.8 | ) | (169.5 | ) | ||||||||||||||
| Benefit for income taxes |
(63.4 | ) | (63.4 | ) | ||||||||||||||||||||
| Equity in (income) loss of unconsolidated affiliates |
8.1 | — | 0.9 | 1.4 | — | 10.4 | ||||||||||||||||||
| Income (loss) from continuing operations | $ | (65.1 | ) | $ | 29.3 | $ | (33.1 | ) | $ | 0.8 | $ | (48.4 | ) | $ | (116.5 | ) | ||||||||
| Reconciliation of loss from continuing operations to EBITDA from continuing operations |
||||||||||||||||||||||||
| Income (loss) from continuing operations | $ | (65.1 | ) | $ | 29.3 | $ | (33.1 | ) | $ | 0.8 | $ | (48.4 | ) | $ | (116.5 | ) | ||||||||
| Benefit for income taxes |
— | — | — | — | (63.4 | ) | (63.4 | ) | ||||||||||||||||
| Interest expense, net of capitalized interest |
— | — | — | — | 74.6 | 74.6 | ||||||||||||||||||
| Depreciation and amortization |
35.2 | 18.5 | 12.2 | 10.7 | 3.4 | 80.0 | ||||||||||||||||||
| EBITDA from continuing operations | $ | (29.9 | ) | $ | 47.8 | $ | (20.9 | ) | $ | 11.5 | $ | (33.8 | ) | $ | (25.3 | ) | ||||||||
| Stock based compensation expense |
0.7 | 0.6 | 0.5 | — | 5.6 | 7.4 | ||||||||||||||||||
| (Gain) loss on sale or impairment of long lived assets |
(2.5 | ) | (2.5 | ) | ||||||||||||||||||||
| Investment income |
(29.0 | ) | (29.0 | ) | ||||||||||||||||||||
| Realized gain on sale of ARS |
(18.7 | ) | (18.7 | ) | ||||||||||||||||||||
| Other than temporary asset impairment |
2.0 | 2.0 | ||||||||||||||||||||||
| Early debt extinguishment |
20.7 | 20.7 | ||||||||||||||||||||||
| Other operating credits and charges, net |
1.6 | 1.6 | ||||||||||||||||||||||
| Adjusted EBITDA from continuing operations | $ | (29.2 | ) | $ | 48.4 | $ | (20.4 | ) | $ | 11.5 | $ | (54.1 | ) | $ | (43.8 | ) | ||||||||