Attached files
| file | filename |
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| EX-99.1 - PRESS RELEASE OF JARDEN CORPORATION - JARDEN CORP | d246715dex991.htm |
| 8-K - FORM 8-K - JARDEN CORP | d246715d8k.htm |
Exhibit 99.2
JARDEN CORPORATION
Reconciliation of GAAP to NON GAAP
For the three and nine months ended September 30, 2011 and 2010
| Three months ended | Nine months ended | |||||||||||||||
| (in millions) | September 30, 2011 |
September 30, 2010 |
September 30, 2011 |
September 30, 2010 |
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| Reconciliation of Non-GAAP measure: |
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| Net income |
$ | 90.7 | $ | 80.6 | $ | 183.6 | $ | 60.0 | ||||||||
| Income tax provision |
50.4 | 49.3 | 107.2 | 76.5 | ||||||||||||
| Interest expense, net |
43.7 | 46.2 | 134.8 | 130.3 | ||||||||||||
| Loss on early extinguishment of debt |
— | — | 12.8 | — | ||||||||||||
| Depreciation and amortization |
40.3 | 36.5 | 121.7 | 103.0 | ||||||||||||
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| Earnings before interest, taxes, depreciation and amortization (EBITDA) |
225.1 | 212.6 | 560.1 | 369.8 | ||||||||||||
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| Other adjustments: |
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| Fair market value adjustment to inventory |
1.6 | — | 6.9 | 25.3 | ||||||||||||
| Acquisition-related and other costs |
6.4 | — | 6.4 | 14.5 | ||||||||||||
| Reorganization costs |
6.2 | — | 6.2 | — | ||||||||||||
| Impairment of goodwill and other intangibles |
— | 0.7 | — | 19.0 | ||||||||||||
| Venezuela hyperinflationary and devaluation charges |
— | — | — | 78.1 | ||||||||||||
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| AS ADJUSTED EBITDA (Segment Earnings) |
$ | 239.3 | $ | 213.3 | $ | 579.6 | $ | 506.7 | ||||||||
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Organic net sales growth is a non-GAAP measure of net sales growth excluding the impacts of foreign exchange, significant acquisitions and exited business 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 nine months ended September 30, 2011:
| For the three months ending September 30, 2011 | ||||||||||||||||||||||||
| Outdoor Solutions |
Consumer Solutions |
Branded Consumables |
Process Solutions |
Elimination | Consolidated | |||||||||||||||||||
| Reconciliation of Non-GAAP measure: |
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| Net sales growth |
17.0 | % | (2.2 | %) | 21.6 | % | 10.7 | % | 14.3 | % | 11.4 | % | ||||||||||||
| Foreign exchange impacts |
(4.1 | %) | (0.8 | %) | (4.0 | %) | (0.4 | %) | — | % | (2.8 | %) | ||||||||||||
| (Acquisitions)/Exited business, net |
(3.3 | %) | 1.5 | % | (10.5 | %) | — | % | — | % | (3.3 | %) | ||||||||||||
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| Organic net sales growth |
9.6 | % | (1.5 | %) | 7.1 | % | 10.3 | % | 14.3 | % | 5.3 | % | ||||||||||||
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| For the nine months ending September 30, 2011 | ||||||||||||||||||||||||
| Outdoor Solutions |
Consumer Solutions |
Branded Consumables |
Process Solutions |
Elimination | Consolidated | |||||||||||||||||||
| Reconciliation of Non-GAAP measure: |
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| Net sales growth |
12.6 | % | 0.4 | % | 37.0 | % | 3.2 | % | 12.0 | % | 13.9 | % | ||||||||||||
| Foreign exchange impacts |
(3.2 | %) | (1.0 | %) | (3.7 | %) | (0.4 | %) | — | % | (2.6 | %) | ||||||||||||
| (Acquisitions)/Exited business, net |
(2.9 | %) | 0.7 | % | (32.1 | %) | — | % | — | % | (8.1 | %) | ||||||||||||
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| Organic net sales growth |
6.5 | % | 0.1 | % | 1.2 | % | 2.8 | % | 12.0 | % | 3.2 | % | ||||||||||||
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| Trailing Twelve Months Ended September 30, 2011 |
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| Reconciliation of Non-GAAP measure: |
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| Net sales growth |
15.6 | % | ||
| Foreign exchange impacts |
(1.5 | %) | ||
| (Acquisitions)/Exited business, net |
(9.6 | %) | ||
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| Organic net sales growth |
4.5 | % | ||
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