Attached files
| file | filename |
|---|---|
| EX-99.2 - EXHIBIT 99.2 - EBITDA RECONCILIATION - LOUISIANA-PACIFIC CORP | ex992-063016ebitdareconcil.htm |
| EX-99.1 - EXHIBIT 99.1 - PRESS RELEASE - LOUISIANA-PACIFIC CORP | ex991-q22016pressrelease.htm |
| 8-K - Q2 2016 EARNINGS 8-K - LOUISIANA-PACIFIC CORP | lpx63020168k.htm |
Exhibit 99.3 Reconciliation of Adjusted income from continuing operations
As reported Quarter Ended June 30, 2016 | Adjustments | As adjusted Quarter Ended June 30, 2016 | As reported Quarter Ended March 31, 2016 | Adjustments | As adjusted Quarter Ended March 31, 2016 | As reported Quarter Ended June 30, 2015 | Adjustments | As adjusted Quarter Ended June 30, 2015 | |||||||||||||||||||
Net sales | $ | 582.4 | $ | 582.4 | $ | 504.6 | $ | 504.6 | $ | 493.0 | $ | 493.0 | |||||||||||||||
Operating costs and expenses: | |||||||||||||||||||||||||||
Cost of sales | 443.1 | 443.1 | 415.5 | 415.5 | 443.4 | 443.4 | |||||||||||||||||||||
Depreciation and amortization | 28.5 | 28.5 | 27.9 | 27.9 | 25.3 | 25.3 | |||||||||||||||||||||
Selling and administrative | 46.5 | 46.5 | 42.3 | 42.3 | 37.9 | 37.9 | |||||||||||||||||||||
Loss on sale or impairment of long-lived assets, net | 0.7 | (0.7 | ) | — | — | — | — | 0.5 | (0.5 | ) | — | ||||||||||||||||
Other operating credits and charges, net | 11.4 | (11.4 | ) | — | — | — | — | — | — | — | |||||||||||||||||
Total operating costs and expenses | 530.2 | 518.1 | 485.7 | 485.7 | 507.1 | 506.6 | |||||||||||||||||||||
Income (loss) from operations | 52.2 | 64.3 | 18.9 | 18.9 | (14.1 | ) | (13.6 | ) | |||||||||||||||||||
Non-operating income (expense): | |||||||||||||||||||||||||||
Interest expense, net of capitalized interest | (9.3 | ) | 1.5 | (7.8 | ) | (8.0 | ) | (8.0 | ) | (7.2 | ) | (7.2 | ) | ||||||||||||||
Investment income | 2.1 | 2.1 | 1.8 | 1.8 | 1.0 | 1.0 | |||||||||||||||||||||
Other non-operating items | 1.4 | 1.4 | 0.5 | 0.5 | 0.4 | 0.4 | |||||||||||||||||||||
Total non-operating income (expense) | (5.8 | ) | (4.3 | ) | (5.7 | ) | (5.7 | ) | (5.8 | ) | (5.8 | ) | |||||||||||||||
Income (loss) before taxes and equity in income of unconsolidated affiliates | 46.4 | 60.0 | 13.2 | 13.2 | (19.9 | ) | (19.4 | ) | |||||||||||||||||||
Provision (benefit) for income taxes | 16.2 | (16.2 | ) | — | 4.4 | (4.4 | ) | — | 1.0 | (1.0 | ) | — | |||||||||||||||
"Normalized" tax rate @ 35% | — | 21.5 | 21.5 | — | 5.1 | 5.1 | — | (6.3 | ) | (6.3 | ) | ||||||||||||||||
Equity in income of unconsolidated affiliates | (1.5 | ) | (1.5 | ) | (1.5 | ) | — | (1.5 | ) | (1.4 | ) | (1.4 | ) | ||||||||||||||
Net income (loss) | $ | 31.7 | $ | 40.0 | $ | 10.3 | $ | 9.6 | $ | (19.5 | ) | $ | (11.7 | ) | |||||||||||||
Net income (loss) per share of common stock: | |||||||||||||||||||||||||||
Net income (loss) per share - basic | $ | 0.22 | $ | 0.28 | $ | 0.07 | $ | 0.07 | $ | (0.14 | ) | $ | (0.08 | ) | |||||||||||||
Net income (loss) per share - diluted | $ | 0.22 | $ | 0.28 | $ | 0.07 | $ | 0.07 | $ | (0.14 | ) | $ | (0.08 | ) | |||||||||||||
Average shares of stock outstanding - basic | 143.4 | 143.4 | 142.9 | 142.9 | 142.3 | 142.3 | |||||||||||||||||||||
Average shares of stock outstanding - diluted | 145.2 | 145.2 | 145.2 | 145.2 | 142.3 | 142.3 | |||||||||||||||||||||
As reported Six Months Ended June 30, 2016 | Adjustments | As adjusted Six Months Ended June 30, 2016 | As reported Six Months Ended June 30, 2015 | Adjustments | As adjusted Six Months Ended June 30, 2015 | |||||||||||||
Net sales | $ | 1,087.0 | $ | 1,087.0 | $ | 964.7 | $ | 964.7 | ||||||||||
Operating costs and expenses: | — | — | ||||||||||||||||
Cost of sales | 858.6 | 858.6 | 871.2 | 871.2 | ||||||||||||||
Depreciation and amortization | 56.4 | 56.4 | 52.0 | 52.0 | ||||||||||||||
Selling and administrative | 88.8 | 88.8 | 76.6 | 76.6 | ||||||||||||||
Loss on sale or impairment of long-lived assets, net | 0.7 | (0.7 | ) | — | 0.6 | (0.6 | ) | — | ||||||||||
Other operating credits and charges, net | 11.4 | (11.4 | ) | — | 11.6 | (11.6 | ) | — | ||||||||||
Total operating costs and expenses | 1,015.9 | 1,003.8 | 1,012.0 | 999.8 | ||||||||||||||
Income (loss) from operations | 71.1 | 83.2 | (47.3 | ) | (35.1 | ) | ||||||||||||
Non-operating income (expense): | ||||||||||||||||||
Interest expense, net of capitalized interest | (17.3 | ) | 1.5 | (15.8 | ) | (14.7 | ) | (14.7 | ) | |||||||||
Investment income | 3.9 | 3.9 | 2.4 | 2.4 | ||||||||||||||
Other non-operating items | 1.9 | 1.9 | (1.8 | ) | (1.8 | ) | ||||||||||||
Total non-operating income (expense) | (11.5 | ) | (10.0 | ) | (14.1 | ) | (14.1 | ) | ||||||||||
Income (loss) before taxes and equity in income of unconsolidated affiliates | 59.6 | 73.2 | (61.4 | ) | (49.2 | ) | ||||||||||||
Provision (benefit) for income taxes | 20.6 | (20.6 | ) | — | (5.3 | ) | 5.3 | — | ||||||||||
"Normalized" tax rate @ 35% | — | 26.7 | 26.7 | — | (16.5 | ) | (16.5 | ) | ||||||||||
Equity in income of unconsolidated affiliates | (3.0 | ) | (3.0 | ) | (2.1 | ) | (2.1 | ) | ||||||||||
Net income (loss) | $ | 42.0 | $ | 49.5 | $ | (54.0 | ) | $ | (30.6 | ) | ||||||||
Net income (loss) per share of common stock: | ||||||||||||||||||
Net income (loss) per share - basic | $ | 0.29 | $ | 0.35 | $ | (0.38 | ) | $ | (0.22 | ) | ||||||||
Net income (loss) per share - diluted | $ | 0.29 | $ | 0.34 | $ | (0.38 | ) | $ | (0.22 | ) | ||||||||
Average shares of stock outstanding - basic | 143.1 | 143.1 | 142.1 | 142.1 | ||||||||||||||
Average shares of stock outstanding - diluted | 145.1 | 145.1 | 142.1 | 142.1 | ||||||||||||||