Attached files
| file | filename |
|---|---|
| EX-99.2 - EX-99.2 - JARDEN CORP | d683389dex992.htm |
| 8-K - FORM 8-K - JARDEN CORP | d683389d8k.htm |
Exhibit 99.1
JARDEN CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
(in millions, except earnings per share)
| Quarters ended | ||||||||||||||||||||||||
| December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||
| As Reported (GAAP) (2) |
Adjustments (1)(4) |
Adjusted (non-GAAP) (1)(2)(4) |
As Reported (GAAP) (2) |
Adjustments (1)(4) |
Adjusted (non-GAAP) (1)(2)(4) |
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| Net sales |
$ | 2,215.6 | $ | — | $ | 2,215.6 | $ | 1,819.2 | $ | — | $ | 1,819.2 | ||||||||||||
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| Cost of sales |
1,581.1 | (97.7 | ) | 1,483.4 | 1,311.8 | (3.6 | ) | 1,308.2 | ||||||||||||||||
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| Gross profit |
634.5 | 97.7 | 732.2 | 507.4 | 3.6 | 511.0 | ||||||||||||||||||
| Selling, general and administrative expenses |
474.4 | (38.9 | ) | 435.5 | 359.5 | (43.7 | ) | 315.8 | ||||||||||||||||
| Reorganization costs, net |
17.6 | (17.6 | ) | — | 17.8 | (17.8 | ) | — | ||||||||||||||||
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| Operating earnings |
142.5 | 154.2 | 296.7 | 130.1 | 65.1 | 195.2 | ||||||||||||||||||
| Interest expense, net |
52.1 | (4.9 | ) | 47.2 | 49.5 | (3.0 | ) | 46.5 | ||||||||||||||||
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| Income before taxes |
90.4 | 159.1 | 249.5 | 80.6 | 68.1 | 148.7 | ||||||||||||||||||
| Income tax provision |
53.4 | 28.9 | 82.3 | 31.9 | 20.1 | 52.0 | ||||||||||||||||||
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| Net income |
$ | 37.0 | $ | 130.2 | $ | 167.2 | $ | 48.7 | $ | 48.0 | $ | 96.7 | ||||||||||||
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| Earnings per share: |
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| Basic |
$ | 0.30 | $ | 1.34 | $ | 0.43 | $ | 0.86 | ||||||||||||||||
| Diluted |
$ | 0.29 | $ | 1.31 | $ | 0.43 | $ | 0.85 | ||||||||||||||||
| Weighted average shares outstanding: |
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| Basic |
124.7 | 124.7 | 112.7 | 112.7 | ||||||||||||||||||||
| Diluted |
127.8 | 127.8 | 113.6 | 113.6 | ||||||||||||||||||||
See Notes to Earnings Release attached to Current Report on Form 8-K filed with the Securities and Exchange Commission
on February 13, 2014
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JARDEN CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
(in millions, except earnings per share)
| Years ended | ||||||||||||||||||||||||
| December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||
| As Reported (GAAP) (2) |
Adjustments (1)(4) |
Adjusted (non-GAAP) (1)(2)(4) |
As Reported (GAAP) (2) |
Adjustments (1)(4) |
Adjusted (non-GAAP) (1)(2)(4) |
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| Net sales |
$ | 7,355.9 | $ | — | $ | 7,355.9 | $ | 6,696.1 | $ | — | $ | 6,696.1 | ||||||||||||
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| Cost of sales |
5,241.2 | (111.2 | ) | 5,130.0 | 4,771.7 | (14.8 | ) | 4,756.9 | ||||||||||||||||
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| Gross profit |
2,114.7 | 111.2 | 2,225.9 | 1,924.4 | 14.8 | 1,939.2 | ||||||||||||||||||
| Selling, general and administrative expenses |
1,519.8 | (89.7 | ) | 1,430.1 | 1,320.5 | (68.9 | ) | 1,251.6 | ||||||||||||||||
| Reorganization costs, net |
22.0 | (22.0 | ) | — | 27.1 | (27.1 | ) | — | ||||||||||||||||
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| Operating earnings |
572.9 | 222.9 | 795.8 | 576.8 | 110.8 | 687.6 | ||||||||||||||||||
| Interest expense, net |
195.4 | (16.1 | ) | 179.3 | 185.3 | (3.3 | ) | 182.0 | ||||||||||||||||
| Loss on early extinguishment of debt |
25.9 | (25.9 | ) | — | — | — | — | |||||||||||||||||
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| Income before taxes |
351.6 | 264.9 | 616.5 | 391.5 | 114.1 | 505.6 | ||||||||||||||||||
| Income tax provision |
147.7 | 55.7 | 203.4 | 147.6 | 29.3 | 176.9 | ||||||||||||||||||
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| Net income |
$ | 203.9 | $ | 209.2 | $ | 413.1 | $ | 243.9 | $ | 84.8 | $ | 328.7 | ||||||||||||
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| Earnings per share: |
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| Basic |
$ | 1.79 | $ | 3.63 | $ | 2.08 | $ | 2.80 | ||||||||||||||||
| Diluted |
$ | 1.77 | $ | 3.59 | $ | 2.06 | $ | 2.78 | ||||||||||||||||
| Weighted average shares outstanding: |
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| Basic |
113.7 | 113.7 | 117.4 | 117.4 | ||||||||||||||||||||
| Diluted |
115.1 | 115.1 | 118.2 | 118.2 | ||||||||||||||||||||
See Notes to Earnings Release attached to Current Report on Form 8-K filed with the Securities and Exchange Commission
on February 13, 2014
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