Attached files
| file | filename |
|---|---|
| 8-K - 8-K - O-I Glass, Inc. /DE/ | a12-5544_18k.htm |
| EX-99.2 - EX-99.2 - O-I Glass, Inc. /DE/ | a12-5544_1ex99d2.htm |
| EX-99.1 - EX-99.1 - O-I Glass, Inc. /DE/ | a12-5544_1ex99d1.htm |
| EX-99.4 - EX-99.4 - O-I Glass, Inc. /DE/ | a12-5544_1ex99d4.htm |
Exhibit 99.3
Owens-Illinois, Inc.
Unaudited Pro Forma Segment Operating Profit
The information below presents the Company’s Segment Operating Profit, giving effect to the change in the method for accounting for U.S. inventories from LIFO to average costs and the change in the allocation of pension costs to the reportable segments as if the changes had occurred on January 1, 2010. The Company’s measure of profit for its reportable segments is Segment Operating Profit, which consists of consolidated earnings from continuing operations before interest income, interest expense and provision for income taxes and excludes amounts related to certain items that management considers not representative of ongoing operations as well as certain retained corporate costs. The segment data presented below is prepared in accordance with general accounting principles for segment reporting. The line titled “Reportable segment totals”, however, is a non-GAAP measure when presented outside of the financial statement footnotes. Management has included this non-GAAP information to assist in understanding the comparability of results of ongoing operations. Management uses Segment Operating Profit, in combination with net sales and selected cash flow information, to evaluate performance and to allocate resources.
Owens-Illinois, Inc.
Unaudited Pro Forma Segment Operating Profit for the Three Months and Year Ended December 31, 2011
|
|
|
Three Months Ended December 31, 2011 |
| ||||||||||
|
|
|
|
|
Effect of Change in |
|
|
| ||||||
|
Dollars in millions |
|
As Reported |
|
Pension |
|
Inventory |
|
Pro Forma |
| ||||
|
|
|
|
|
|
|
|
|
|
| ||||
|
Europe |
|
$ |
41 |
|
$ |
5 |
|
$ |
— |
|
$ |
46 |
|
|
North America |
|
48 |
|
(6 |
) |
|
|
42 |
| ||||
|
South America |
|
85 |
|
|
|
|
|
85 |
| ||||
|
Asia Pacific |
|
27 |
|
|
|
|
|
27 |
| ||||
|
Reportable segment totals |
|
201 |
|
(1 |
) |
— |
|
200 |
| ||||
|
|
|
|
|
|
|
|
|
|
| ||||
|
Items excluded from Segment Operating Profit: |
|
|
|
|
|
|
|
|
| ||||
|
Retained corporate costs and other |
|
(28 |
) |
1 |
|
|
|
(27 |
) | ||||
|
Restructuring and asset impairment |
|
(71 |
) |
|
|
|
|
(71 |
) | ||||
|
Charge for asbestos-related costs |
|
(165 |
) |
|
|
|
|
(165 |
) | ||||
|
Charge for goodwill impairment |
|
(641 |
) |
|
|
|
|
(641 |
) | ||||
|
Interest income |
|
3 |
|
|
|
|
|
3 |
| ||||
|
Interest expense |
|
(68 |
) |
|
|
|
|
(68 |
) | ||||
|
|
|
|
|
|
|
|
|
|
| ||||
|
Loss from continuing operations before income taxes |
|
(769 |
) |
— |
|
— |
|
(769 |
) | ||||
|
Provision for income taxes |
|
|
|
|
|
|
|
— |
| ||||
|
Loss from continuing operations |
|
(769 |
) |
— |
|
— |
|
(769 |
) | ||||
|
Earnings from discontinued operations |
|
3 |
|
|
|
|
|
3 |
| ||||
|
Net loss |
|
(766 |
) |
— |
|
— |
|
(766 |
) | ||||
|
Net earnings attributable to noncontrolling interests |
|
(5 |
) |
|
|
|
|
(5 |
) | ||||
|
Net loss attributable to the Company |
|
$ |
(771 |
) |
$ |
— |
|
$ |
— |
|
$ |
(771 |
) |
|
|
|
Year Ended December 31, 2011 |
| ||||||||||
|
|
|
|
|
Effect of Change in |
|
|
| ||||||
|
Dollars in millions |
|
As Reported |
|
Pension |
|
Inventory |
|
Pro Forma |
| ||||
|
|
|
|
|
|
|
|
|
|
| ||||
|
Europe |
|
$ |
325 |
|
$ |
20 |
|
$ |
— |
|
$ |
345 |
|
|
North America |
|
236 |
|
(24 |
) |
10 |
|
222 |
| ||||
|
South America |
|
250 |
|
|
|
|
|
250 |
| ||||
|
Asia Pacific |
|
83 |
|
|
|
|
|
83 |
| ||||
|
Reportable segment totals |
|
894 |
|
(4 |
) |
10 |
|
900 |
| ||||
|
|
|
|
|
|
|
|
|
|
| ||||
|
Items excluded from Segment Operating Profit: |
|
|
|
|
|
|
|
|
| ||||
|
Retained corporate costs and other |
|
(79 |
) |
4 |
|
|
|
(75 |
) | ||||
|
Restructuring and asset impairment |
|
(112 |
) |
|
|
|
|
(112 |
) | ||||
|
Charge for asbestos-related costs |
|
(165 |
) |
|
|
|
|
(165 |
) | ||||
|
Charge for goodwill impairment |
|
(641 |
) |
|
|
|
|
(641 |
) | ||||
|
Interest income |
|
11 |
|
|
|
|
|
11 |
| ||||
|
Interest expense |
|
(314 |
) |
|
|
|
|
(314 |
) | ||||
|
|
|
|
|
|
|
|
|
|
| ||||
|
Loss from continuing operations before income taxes |
|
(406 |
) |
— |
|
10 |
|
(396 |
) | ||||
|
Provision for income taxes |
|
(85 |
) |
|
|
|
|
(85 |
) | ||||
|
Loss from continuing operations |
|
(491 |
) |
— |
|
10 |
|
(481 |
) | ||||
|
Earnings from discontinued operations |
|
1 |
|
|
|
|
|
1 |
| ||||
|
Net loss |
|
(490 |
) |
— |
|
10 |
|
(480 |
) | ||||
|
Net earnings attributable to noncontrolling interests |
|
(20 |
) |
|
|
|
|
(20 |
) | ||||
|
Net loss attributable to the Company |
|
$ |
(510 |
) |
$ |
— |
|
$ |
10 |
|
$ |
(500 |
) |
Owens-Illinois, Inc.
Unaudited Pro Forma Segment Operating Profit for the Three and Nine Months Ended September 30, 2011
|
|
|
Three Months Ended September 30, 2011 |
| |||||||||||
|
|
|
|
|
Effect of Change in |
|
|
| |||||||
|
Dollars in millions |
|
As Reported |
|
Pension |
|
Inventory |
|
Pro Forma |
| |||||
|
|
|
|
|
|
|
|
|
|
| |||||
|
Europe |
|
$ |
106 |
|
$ |
5 |
|
$ |
— |
|
$ |
111 |
| |
|
North America |
|
73 |
|
(6 |
) |
|
|
67 |
| |||||
|
South America |
|
67 |
|
|
|
|
|
67 |
| |||||
|
Asia Pacific |
|
23 |
|
|
|
|
|
23 |
| |||||
|
Reportable segment totals |
|
269 |
|
(1 |
) |
— |
|
268 |
| |||||
|
|
|
|
|
|
|
|
|
|
| |||||
|
Items excluded from Segment Operating Profit: |
|
|
|
|
|
|
|
|
| |||||
|
Retained corporate costs and other |
|
(24 |
) |
1 |
|
|
|
(23 |
) | |||||
|
Restructuring and asset impairment |
|
(29 |
) |
|
|
|
|
(29 |
) | |||||
|
Interest income |
|
2 |
|
|
|
|
|
2 |
| |||||
|
Interest expense |
|
(70 |
) |
|
|
|
|
(70 |
) | |||||
|
|
|
|
|
|
|
|
|
|
| |||||
|
Earnings from continuing operations before income taxes |
|
148 |
|
— |
|
— |
|
148 |
| |||||
|
Provision for income taxes |
|
(25 |
) |
|
|
|
|
(25 |
) | |||||
|
Earnings from continuing operations |
|
123 |
|
— |
|
— |
|
123 |
| |||||
|
Loss from discontinued operations |
|
(3 |
) |
|
|
|
|
(3 |
) | |||||
|
Net earnings |
|
120 |
|
— |
|
— |
|
120 |
| |||||
|
Net earnings attributable to noncontrolling interests |
|
(4 |
) |
|
|
|
|
(4 |
) | |||||
|
Net earnings attributable to the Company |
|
$ |
116 |
|
$ |
— |
|
$ |
— |
|
$ |
116 |
| |
|
|
|
Nine Months Ended September 30, 2011 |
| ||||||||||
|
|
|
|
|
Effect of Change in |
|
|
| ||||||
|
Dollars in millions |
|
As Reported |
|
Pension |
|
Inventory |
|
Pro Forma |
| ||||
|
|
|
|
|
|
|
|
|
|
| ||||
|
Europe |
|
$ |
284 |
|
$ |
15 |
|
$ |
— |
|
$ |
299 |
|
|
North America |
|
188 |
|
(18 |
) |
10 |
|
180 |
| ||||
|
South America |
|
165 |
|
|
|
|
|
165 |
| ||||
|
Asia Pacific |
|
56 |
|
|
|
|
|
56 |
| ||||
|
Reportable segment totals |
|
693 |
|
(3 |
) |
10 |
|
700 |
| ||||
|
|
|
|
|
|
|
|
|
|
| ||||
|
Items excluded from Segment Operating Profit: |
|
|
|
|
|
|
|
|
| ||||
|
Retained corporate costs and other |
|
(51 |
) |
3 |
|
|
|
(48 |
) | ||||
|
Restructuring and asset impairment |
|
(41 |
) |
|
|
|
|
(41 |
) | ||||
|
Interest income |
|
8 |
|
|
|
|
|
8 |
| ||||
|
Interest expense |
|
(246 |
) |
|
|
|
|
(246 |
) | ||||
|
|
|
|
|
|
|
|
|
|
| ||||
|
Earnings from continuing operations before income taxes |
|
363 |
|
— |
|
10 |
|
373 |
| ||||
|
Provision for income taxes |
|
(85 |
) |
|
|
|
|
(85 |
) | ||||
|
Earnings from continuing operations |
|
278 |
|
— |
|
10 |
|
288 |
| ||||
|
Loss from discontinued operations |
|
(2 |
) |
|
|
|
|
(2 |
) | ||||
|
Net earnings |
|
276 |
|
— |
|
10 |
|
286 |
| ||||
|
Net earnings attributable to noncontrolling interests |
|
(15 |
) |
|
|
|
|
(15 |
) | ||||
|
Net earnings attributable to the Company |
|
$ |
261 |
|
$ |
— |
|
$ |
10 |
|
$ |
271 |
|
Owens-Illinois, Inc.
Unaudited Pro Forma Segment Operating Profit for the Three and Six Months Ended June 30, 2011
|
|
|
Three Months Ended June 30, 2011 |
| ||||||||||
|
|
|
|
|
Effect of Change in |
|
|
| ||||||
|
Dollars in millions |
|
As Reported |
|
Pension |
|
Inventory |
|
Pro Forma |
| ||||
|
|
|
|
|
|
|
|
|
|
| ||||
|
Europe |
|
$ |
107 |
|
$ |
5 |
|
$ |
— |
|
$ |
112 |
|
|
North America |
|
56 |
|
(6 |
) |
|
|
50 |
| ||||
|
South America |
|
53 |
|
|
|
|
|
53 |
| ||||
|
Asia Pacific |
|
9 |
|
|
|
|
|
9 |
| ||||
|
Reportable segment totals |
|
225 |
|
(1 |
) |
— |
|
224 |
| ||||
|
|
|
|
|
|
|
|
|
|
| ||||
|
Items excluded from Segment Operating Profit: |
|
|
|
|
|
|
|
|
| ||||
|
Retained corporate costs and other |
|
(14 |
) |
1 |
|
|
|
(13 |
) | ||||
|
Restructuring and asset impairment |
|
(4 |
) |
|
|
|
|
(4 |
) | ||||
|
Interest income |
|
3 |
|
|
|
|
|
3 |
| ||||
|
Interest expense |
|
(100 |
) |
|
|
|
|
(100 |
) | ||||
|
|
|
|
|
|
|
|
|
|
| ||||
|
Earnings from continuing operations before income taxes |
|
110 |
|
— |
|
— |
|
110 |
| ||||
|
Provision for income taxes |
|
(32 |
) |
|
|
|
|
(32 |
) | ||||
|
Earnings from continuing operations |
|
78 |
|
— |
|
— |
|
78 |
| ||||
|
Earnings from discontinued operations |
|
2 |
|
|
|
|
|
2 |
| ||||
|
Net earnings |
|
80 |
|
— |
|
— |
|
80 |
| ||||
|
Net earnings attributable to noncontrolling interests |
|
(7 |
) |
|
|
|
|
(7 |
) | ||||
|
Net earnings attributable to the Company |
|
$ |
73 |
|
$ |
— |
|
$ |
— |
|
$ |
73 |
|
|
|
|
Six Months Ended June 30, 2011 |
| ||||||||||
|
|
|
|
|
Effect of Change in |
|
|
| ||||||
|
Dollars in millions |
|
As Reported |
|
Pension |
|
Inventory |
|
Pro Forma |
| ||||
|
|
|
|
|
|
|
|
|
|
| ||||
|
Europe |
|
$ |
178 |
|
$ |
10 |
|
$ |
— |
|
$ |
188 |
|
|
North America |
|
115 |
|
(12 |
) |
10 |
|
113 |
| ||||
|
South America |
|
98 |
|
|
|
|
|
98 |
| ||||
|
Asia Pacific |
|
33 |
|
|
|
|
|
33 |
| ||||
|
Reportable segment totals |
|
424 |
|
(2 |
) |
10 |
|
432 |
| ||||
|
|
|
|
|
|
|
|
|
|
| ||||
|
Items excluded from Segment Operating Profit: |
|
|
|
|
|
|
|
|
| ||||
|
Retained corporate costs and other |
|
(27 |
) |
2 |
|
|
|
(25 |
) | ||||
|
Restructuring and asset impairment |
|
(12 |
) |
|
|
|
|
(12 |
) | ||||
|
Interest income |
|
6 |
|
|
|
|
|
6 |
| ||||
|
Interest expense |
|
(176 |
) |
|
|
|
|
(176 |
) | ||||
|
|
|
|
|
|
|
|
|
|
| ||||
|
Earnings from continuing operations before income taxes |
|
215 |
|
— |
|
10 |
|
225 |
| ||||
|
Provision for income taxes |
|
(60 |
) |
|
|
|
|
(60 |
) | ||||
|
Earnings from continuing operations |
|
155 |
|
— |
|
10 |
|
165 |
| ||||
|
Earnings from discontinued operations |
|
1 |
|
|
|
|
|
1 |
| ||||
|
Net earnings |
|
156 |
|
— |
|
10 |
|
166 |
| ||||
|
Net earnings attributable to noncontrolling interests |
|
(11 |
) |
|
|
|
|
(11 |
) | ||||
|
Net earnings attributable to the Company |
|
$ |
145 |
|
$ |
— |
|
$ |
10 |
|
$ |
155 |
|
Owens-Illinois, Inc.
Unaudited Pro Forma Segment Operating Profit for the Three Months Ended March 31, 2011
|
|
|
Three Months Ended March 31, 2011 |
| ||||||||||
|
|
|
|
|
Effect of Change in |
|
|
| ||||||
|
Dollars in millions |
|
As Reported |
|
Pension |
|
Inventory |
|
Pro Forma |
| ||||
|
|
|
|
|
|
|
|
|
|
| ||||
|
Europe |
|
$ |
71 |
|
$ |
5 |
|
$ |
— |
|
$ |
76 |
|
|
North America |
|
59 |
|
(6 |
) |
10 |
|
63 |
| ||||
|
South America |
|
45 |
|
|
|
|
|
45 |
| ||||
|
Asia Pacific |
|
24 |
|
|
|
|
|
24 |
| ||||
|
Reportable segment totals |
|
199 |
|
(1 |
) |
10 |
|
208 |
| ||||
|
|
|
|
|
|
|
|
|
|
| ||||
|
Items excluded from Segment Operating Profit: |
|
|
|
|
|
|
|
|
| ||||
|
Retained corporate costs and other |
|
(13 |
) |
1 |
|
|
|
(12 |
) | ||||
|
Restructuring and asset impairment |
|
(8 |
) |
|
|
|
|
(8 |
) | ||||
|
Interest income |
|
3 |
|
|
|
|
|
3 |
| ||||
|
Interest expense |
|
(76 |
) |
|
|
|
|
(76 |
) | ||||
|
|
|
|
|
|
|
|
|
|
| ||||
|
Earnings from continuing operations before income taxes |
|
105 |
|
— |
|
10 |
|
115 |
| ||||
|
Provision for income taxes |
|
(28 |
) |
|
|
|
|
(28 |
) | ||||
|
Earnings from continuing operations |
|
77 |
|
— |
|
10 |
|
87 |
| ||||
|
Loss from discontinued operations |
|
(1 |
) |
|
|
|
|
(1 |
) | ||||
|
Net earnings |
|
76 |
|
— |
|
10 |
|
86 |
| ||||
|
Net earnings attributable to noncontrolling interests |
|
(4 |
) |
|
|
|
|
(4 |
) | ||||
|
Net earnings attributable to the Company |
|
$ |
72 |
|
$ |
— |
|
$ |
10 |
|
$ |
82 |
|
Owens-Illinois, Inc.
Unaudited Pro Forma Segment Operating Profit for the Year Ended December 31, 2010
|
|
|
Year Ended December 31, 2010 |
| ||||||||||
|
|
|
|
|
Effect of Change in |
|
|
| ||||||
|
Dollars in millions |
|
As Reported |
|
Pension |
|
Inventory |
|
Pro Forma |
| ||||
|
|
|
|
|
|
|
|
|
|
| ||||
|
Europe |
|
$ |
324 |
|
$ |
16 |
|
$ |
— |
|
$ |
340 |
|
|
North America |
|
275 |
|
(24 |
) |
2 |
|
253 |
| ||||
|
South America |
|
224 |
|
|
|
|
|
224 |
| ||||
|
Asia Pacific |
|
141 |
|
3 |
|
|
|
144 |
| ||||
|
Reportable segment totals |
|
964 |
|
(5 |
) |
2 |
|
961 |
| ||||
|
|
|
|
|
|
|
|
|
|
| ||||
|
Items excluded from Segment Operating Profit: |
|
|
|
|
|
|
|
|
| ||||
|
Retained corporate costs and other |
|
(89 |
) |
5 |
|
|
|
(84 |
) | ||||
|
Restructuring and asset impairment |
|
(13 |
) |
|
|
|
|
(13 |
) | ||||
|
Acquisition-related costs |
|
(32 |
) |
|
|
|
|
(32 |
) | ||||
|
Asbestos |
|
(170 |
) |
|
|
|
|
(170 |
) | ||||
|
Interest income |
|
13 |
|
|
|
|
|
13 |
| ||||
|
Interest expense |
|
(249 |
) |
|
|
|
|
(249 |
) | ||||
|
|
|
|
|
|
|
|
|
|
| ||||
|
Earnings from continuing operations before income taxes |
|
424 |
|
— |
|
2 |
|
426 |
| ||||
|
Provision for income taxes |
|
(129 |
) |
|
|
|
|
(129 |
) | ||||
|
Earnings from continuing operations |
|
295 |
|
— |
|
2 |
|
297 |
| ||||
|
Loss from discontinued operations |
|
(300 |
) |
|
|
|
|
(300 |
) | ||||
|
Net earnings |
|
(5 |
) |
— |
|
2 |
|
(3 |
) | ||||
|
Net earnings attributable to noncontrolling interests |
|
(42 |
) |
|
|
|
|
(42 |
) | ||||
|
Net earnings attributable to the Company |
|
$ |
(47 |
) |
$ |
— |
|
$ |
2 |
|
$ |
(45 |
) |