Attached files
| file | filename |
|---|---|
| EX-99.1 - PRESS RELEASE - JARDEN CORP | dex991.htm |
| 8-K - FORM 8-K - JARDEN CORP | d8k.htm |
Exhibit 99.2
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JARDEN CORPORATION Reconciliation of GAAP to NON-GAAP For the three and six months ended June 30, 2011 and 2010 | |||
| Three months ended | Six months ended | |||||||||||||||
| (in millions) | June 30, 2011 | June 30, 2010 | June 30, 2011 | June 30, 2010 | ||||||||||||
| Reconciliation of Non-GAAP measure: |
||||||||||||||||
| Net income (loss) |
$ | 73.9 | $ | 38.4 | $ | 92.9 | $ | (20.6 | ) | |||||||
| Income tax provision |
45.0 | 37.1 | 56.8 | 27.2 | ||||||||||||
| Interest expense, net |
46.0 | 43.9 | 91.1 | 84.1 | ||||||||||||
| Loss on early extinguishment of debt |
— | — | 12.8 | — | ||||||||||||
| Depreciation and amortization |
41.3 | 35.6 | 81.4 | 66.5 | ||||||||||||
| Earnings before interest, taxes, depreciation and amortization (EBITDA) |
206.2 | 155.0 | 335.0 | 157.2 | ||||||||||||
| Other adjustments: |
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| Fair market value adjustment to inventory |
— | 25.3 | 5.3 | 25.3 | ||||||||||||
| Transaction costs |
— | (6.6 | ) | — | 14.5 | |||||||||||
| Impairment of goodwill and other intangible assets |
— | 18.3 | — | 18.3 | ||||||||||||
| Venezuela hyperinflationary and devaluation charges |
— | — | — | 78.1 | ||||||||||||
| As Adjusted EBITDA (Segment earnings) |
$ | 206.2 | $ | 192.0 | $ | 340.3 | $ | 293.4 | ||||||||
Organic net sales growth is a non-GAAP measure of net sales growth excluding the impacts of foreign exchange and acquisitions from year over year comparisons. The Company believes this measure provides investors with a more complete understanding of the underlying sales trends by providing net sales on a consistent basis. Organic net sales growth is also one of the measures used by management to analyze operating performance. The following table provides a reconciliation of organic net sales growth for the three and six months ended June 30, 2011:
| Three months ended June 30, 2011 | ||||||||||||||||||||||||
| Outdoor Solutions | Consumer Solutions |
Branded Consumables | Process Solutions | Elimination | Consolidated | |||||||||||||||||||
| Reconciliation of Non-GAAP measure: |
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| Net sales growth |
11.1 | % | 2.1 | % | 12.8 | % | (7.7 | )% | 2.1 | % | 8.2 | % | ||||||||||||
| Foreign exchange impacts |
(4.2 | %) | (1.4 | %) | (5.0 | %) | (0.6 | %) | — | % | (3.5 | %) | ||||||||||||
| Less: Acquisitions |
(4.1 | %) | — | % | (10.2 | %) | — | % | — | % | (4.4 | %) | ||||||||||||
| Organic net sales growth |
2.8 | % | 0.7 | % | (2.4 | %) | (8.3 | %) | 2.1 | % | 0.3 | % | ||||||||||||
| Six months ended June 30, 2011 | ||||||||||||||||||||||||
| Outdoor Solutions | Consumer Solutions |
Branded Consumables | Process Solutions | Elimination | Consolidated | |||||||||||||||||||
| Reconciliation of Non-GAAP measure: |
||||||||||||||||||||||||
| Net sales growth |
10.7 | % | 2.4 | % | 48.1 | % | (0.2 | %) | 10.9 | % | 15.4 | % | ||||||||||||
| Foreign exchange impacts |
(2.8 | %) | (1.1 | %) | (3.6 | %) | (0.4 | %) | — | % | (2.4 | %) | ||||||||||||
| Less: Acquisitions |
(3.7 | %) | — | % | (47.5 | %) | — | % | — | % | (11.4 | %) | ||||||||||||
| Organic net sales growth |
4.2 | % | 1.3 | % | (3.0 | %) | (0.6 | %) | 10.9 | % | 1.6 | % | ||||||||||||