LOUISIANA-PACIFIC CORP - FORM 8-K - EX-99.3 - EXHIBIT 3 - May 7, 2013

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8-K - 8-K - LOUISIANA-PACIFIC CORPa033013lpx8k.htm
EX-99.1 - EXHIBIT 1 - LOUISIANA-PACIFIC CORPq12013pressrelease.htm
EX-99.2 - EXHIBIT 2 - LOUISIANA-PACIFIC CORPa033013ebitdareconciliation.htm


Exhibit 99.3 Reconciliation of Adjusted income from continuing operations
 
As reported Quarter Ended March 31, 2013
 
As adjusted Quarter Ended March 31, 2013
 
As reported Quarter Ended December 31, 2012
 
As adjusted Quarter Ended December 31, 2012
 
As reported Quarter Ended March 31, 2012
 
As adjusted Quarter Ended March 31, 2012
 
Adjustments
Adjustments
 
Adjustments
Net sales
$
537.5

 
$
537.5

 
$
458.7

 
$
458.7

 
$
361.5

 
$
361.5

Operating costs and expenses:
 
 
 
 
 
 
 
 
 
 
 
Cost of sales
392.6

 
392.6

 
360.6

 
360.6

 
313.3

 
313.3

Depreciation and amortization
18.7

 
18.7

 
18.0

 
18.0

 
19.1

 
19.1

Selling and administrative
35.4

 
35.4

 
36.8

 
36.8

 
31.3

 
31.3

Loss on sale or impairment of long-lived assets, net
—

—

—

 
0.4

(0.4
)
—

 
0.1

(0.1
)
—

Other operating credits and charges, net
1.6

(1.6
)
—

 
(4.1
)
4.1

—

 
(0.2
)
0.2

—

Total operating costs and expenses
448.3

 
446.7

 
411.7

 
415.4

 
363.6

 
363.7

Income (loss) from operations
89.2

 
90.8

 
47.0

 
43.3

 
(2.1
)
 
(2.2
)
Non-operating income (expense):
 
 
 
 
 
 
 
 
 
 
 
Interest expense, net of capitalized interest
(10.6
)
 
(10.6
)
 
(12.9
)
2.7

(10.2
)
 
(12.6
)
(1.0
)
(13.6
)
Investment income
3.5

 
3.5

 
3.1

 
3.1

 
4.2

 
4.2

Other non-operating items
(0.7
)
 
(0.7
)
 
19.6

(20.0
)
(0.4
)
 
(0.1
)
 
(0.1
)
Total non-operating income (expense)
(7.8
)
 
(7.8
)
 
9.8

 
(7.5
)
 
(8.5
)
 
(9.5
)
Income (loss) from continuing operations before taxes and equity in income (loss) of unconsolidated affiliates
81.4

 
83.0

 
56.8

 
35.8

 
(10.6
)
 
(11.7
)
Provision (benefit) for income taxes
23.2

(23.2
)
—

 
12.0

(12.0
)
—

 
(1.2
)
1.2

—

"Normalized" tax rate @ 35%
—

31.6

31.6

 
—

14.0

14.0

 
—

(4.7
)
(4.7
)
Equity in (income) loss of unconsolidated affiliates
(7.2
)
 
(7.2
)
 
(4.3
)
 
(4.3
)
 
1.8

 
1.8

Income (loss) from continuing operations
65.4

 
58.6

 
49.1

 
26.1

 
(11.2
)
 
(8.8
)
Loss from discontinued operations before taxes
(0.1
)
 
(0.1
)
 
(3.8
)
 
(3.8
)
 
(0.2
)
 
(0.2
)
Benefit for income taxes
—

 
—

 
(0.8
)
 
(0.8
)
 
(0.1
)
 
(0.1
)
Loss from discontinued operations
(0.1
)
 
(0.1
)
 
(3.0
)
 
(3.0
)
 
(0.1
)
 
(0.1
)
Net income (loss)
$
65.3

 
$
58.5

 
$
46.1

 
$
23.1

 
$
(11.3
)
 
$
(8.9
)
Income (loss) per share of common stock (basic):
 
 
 
 
 
 
 
 
 
 
 
Income (loss) from continuing operations
$
0.47

 
$
0.42

 
$
0.35

 
$
0.19

 
$
(0.08
)
 
$
(0.06
)
Loss from discontinued operations
—

 
—

 
(0.02
)
 
(0.02
)
 
—

 
—

Net income (loss) per share
$
0.47

 
$
0.42

 
$
0.33

 
$
0.17

 
$
(0.08
)
 
$
(0.06
)
Income (loss) per share of common stock (diluted):
 
 
 
 
 
 
 
 
 
 
 
Income (loss) from continuing operations
$
0.45

 
$
0.41

 
$
0.34

 
$
0.18

 
$
(0.08
)
 
$
(0.06
)
Loss from discontinued operations
—

 
—

 
(0.02
)
 
(0.02
)
 
—

 
—

Net income (loss) per share
$
0.45

 
$
0.41

 
$
0.32

 
$
0.16

 
$
(0.08
)
 
$
(0.06
)
 
 
 
 
 
 
 
 
 
 
 
 
Average shares of stock outstanding - basic
138.4

 
138.4

 
138.6

 
138.6

 
136.6

 
136.6

Average shares of stock outstanding - diluted
144.4

 
144.4

 
143.3

 
143.3

 
136.6

 
136.6



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