Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - Element Solutions Inc | f8k_050514.htm |
| EX-99.1 - EXHIBIT 99.1 - Element Solutions Inc | exh_991.htm |
EXHIBIT 99.2
PLATFORM SPECIALTY PRODUCTS CORPORATION
RECONCILIATION OF NON-GAAP MEASURES
Includes Predecessor and Successor data
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Predecessor
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Successor
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(in millions)
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Q1 2013 | Q1 2014 | ||||||||
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Net income (loss)
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$ | 15.2 | $ | (7.4 | ) | |||||
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Adjustments to reconcile to net income (loss):
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Income tax expense (benefit)
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6.3 | 2.1 | ||||||||
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Interest expense
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11.8 | 7.8 | ||||||||
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Depreciation and amortization expense
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9.9 | 16.9 | (1) | |||||||
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Unrealized gain on foreign currency denominated debt
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(4.1 | ) | - | (2) | ||||||
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Restructuring and related expenses
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1.6 | - | (3) | |||||||
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Manufacturer's profit in inventory (purchase accounting)
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- | 12.0 | (4) | |||||||
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Non-cash fair value adjustment to contingent consideration
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- | 13.0 | (5) | |||||||
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Other expense (income)
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0.2 | 1.5 | (6) | |||||||
| - | - | |||||||||
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Adjusted EBITDA
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$ | 40.9 | $ | 45.9 | ||||||
2013 Footnotes:
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(1) Includes $13.3m in Q1 2014 and $6.7m in Q1 2013 for amortization expense that is added back in the "As Adjusted" Income Statement.
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(2) Predecessor adjustment to other income for non-cash gain on foreign denominated debt.
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(3) Includes restructuring expenses of $1.6m of reorganization costs adjusted out of operating expenses for Q1 2013.
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(4) Adjustment to reverse manufacturer's profit in inventory purchase accounting adjustment associated with MacDermid Acquisition.
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(5) Adjustment to fair value of contingent consideration in connection with the MacDermid Acquisition primarily associated with achieving the share price target.
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(6) Adjustment in 2014 for reversal of the income attributable to the non-controlling interest resulting from the MacDermid Acquisition.
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