LOUISIANA-PACIFIC CORP - FORM 8-K - EX-99.3 - EXHIBIT 99.3 - IS RECONCILIATION - October 31, 2016

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8-K - 8-K - LOUISIANA-PACIFIC CORPlpx93020168k.htm
EX-99.2 - EXHIBIT 99.2 - EBITDA RECONCILIATION - LOUISIANA-PACIFIC CORPex992-093016ebitdareconcil.htm
EX-99.4 - EXHIBIT 99.4 COO ANNOUNCEMENT - LOUISIANA-PACIFIC CORPex994-cooannouncement.htm
EX-99.1 - EXHIBIT 99.1 - PRESS RELEASE - LOUISIANA-PACIFIC CORPex991-q32016pressrelease.htm


Exhibit 99.3 Reconciliation of Adjusted income (loss) from net income (loss)
 
 
As reported Quarter Ended September 30, 2016
Adjustments
As adjusted Quarter Ended September 30, 2016
 
As reported Quarter Ended June 30, 2016
Adjustments
As adjusted Quarter Ended June 30, 2016
 
As reported Quarter Ended September 30, 2015
Adjustments
As adjusted Quarter Ended September 30, 2015
 
 
Net sales
$
596.4

 
$
596.4

 
$
582.4

 
$
582.4

 
$
464.9

 
$
464.9

 
Operating costs and expenses:
 
 
 
 
 
 
 
 
 
 
 
 
Cost of sales
442.6

 
442.6

 
443.1

 
443.1

 
416.2

 
416.2

 
Depreciation and amortization
29.6

 
29.6

 
28.5

 
28.5

 
25.9

 
25.9

 
Selling and administrative
47.0

 
47.0

 
46.5

 
46.5

 
38.3


38.3

 
Loss on sale or impairment of long-lived assets, net
0.3

(0.3
)
—

 
0.7

(0.7
)
—

 
0.9

(0.9
)
—

 
Other operating credits and charges, net
—

—

—

 
11.4

(11.4
)
—

 
1.0

(1.0
)
—

 
Total operating costs and expenses
519.5


519.2

 
530.2

 
518.1

 
482.3

 
480.4

 
Income (loss) from operations
76.9



77.2

 
52.2

 
64.3

 
(17.4
)
 
(15.5
)
 
Non-operating income (expense):
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense, net of capitalized interest
(9.0
)
1.0

(8.0
)
 
(9.3
)
1.5

(7.8
)
 
(8.4
)
 
(8.4
)
 
Investment income
2.5

 
2.5

 
2.1

 
2.1

 
0.5

 
0.5

 
Loss on early debt extinguishment
(13.2
)
13.2

—

 
—

 
—

 
—



—

 
Other non-operating items
(0.5
)
 
(0.5
)
 
1.4

 
1.4

 
(3.7
)
 
(3.7
)
 
Total non-operating income (expense)
(20.2
)


(6.0
)
 
(5.8
)
 
(4.3
)
 
(11.6
)
 
(11.6
)
 
Income (loss) from continuing operations before taxes and equity in income of unconsolidated affiliates
56.7

 
71.2

 
46.4

 
60.0

 
(29.0
)
 
(27.1
)
 
Provision (benefit) for income taxes
(7.5
)
7.5

—

 
16.2

(16.2
)
—

 
(2.4
)
2.4

—

 
"Normalized" tax rate @ 35%
—

25.4

25.4

 
—

21.5

21.5

 
—

(8.8
)
(8.8
)
 
Equity in income of unconsolidated affiliates
(1.4
)
 
(1.4
)
 
(1.5
)
—

(1.5
)
 
(2.0
)
 
(2.0
)
 
Income (loss) from continuing operations
65.6



47.2

 
31.7

 
40.0

 
(24.6
)
 
(16.3
)
 
Loss from discontinued operations before taxes
—

 
—

 
—

 
—

 
(2.9
)
 
(2.9
)
 
Benefit for income taxes
—

 
—

 
—

 
—

 
(1.0
)
 
(1.0
)
 
Loss from discontinued operations
—



—

 
—

 
—

 
(1.9
)
 
(1.9
)
 
Net income (loss)
$
65.6



$
47.2

 
$
31.7

 
$
40.0

 
$
(26.5
)
 
$
(18.2
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income (loss) per share of common stock (basic):
 
 
 
 
 
 
 
 
 
 
 
 
Income (loss) from continuing operations
$
0.46

 
$
0.33

 
$
0.22

 
$
0.28

 
$
(0.17
)
 
$
(0.12
)
 
Loss from discontinued operations
—

 
—

 
—

 
—

 
(0.02
)
 
(0.02
)
 
Net income (loss) per share - basic
$
0.46

 
$
0.33

 
$
0.22

 
$
0.28

 
$
(0.19
)
 
$
(0.14
)
 
Net income (loss) per share of common stock (diluted):
 
 
 
 
 
 
 
 
 
 
 
 
Income (loss) from continuing operations
$
0.45

 
$
0.32

 
$
0.22

 
$
0.28

 
$
(0.17
)
 
$
(0.12
)
 
Loss from discontinued operations
—

 
—

 
—

 
—

 
(0.02
)
 
(0.02
)
 
Net income (loss) per share - diluted
$
0.45

 
$
0.32

 
$
0.22

 
$
0.28

 
$
(0.19
)
 
$
(0.14
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Average shares of stock outstanding - basic
143.7

 
143.7

 
143.4

 
143.4

 
142.6

 
142.6

 
Average shares of stock outstanding - diluted
145.4

 
145.4

 
145.2

 
145.2

 
142.6

 
142.6






 
 
As reported Nine Months Ended September 30, 2016
Adjustments
As adjusted Nine Months Ended September 30, 2016
 
As reported Nine Months Ended September 30, 2015
Adjustments
As adjusted Nine Months Ended September 30, 2015
 
 
Net sales
$
1,683.4

 
$
1,683.4

 
$
1,429.6

 
$
1,429.6

 
Operating costs and expenses:
 
 
—

 
 
 
—

 
Cost of sales
1,301.2

 
1,301.2

 
1,287.4

 
1,287.4

 
Depreciation and amortization
86.0

 
86.0

 
77.9

 
77.9

 
Selling and administrative
135.8


135.8

 
114.9



114.9

 
Loss on sale or impairment of long-lived assets, net
1.0

(1.0
)
—

 
1.5

(1.5
)
—

 
Other operating credits and charges, net
11.4

(11.4
)
—

 
12.6

(12.6
)
—

 
Total operating costs and expenses
1,535.4


1,523.0

 
1,494.3

 
1,480.2

 
Income (loss) from operations
148.0


160.4

 
(64.7
)
 
(50.6
)
 
Non-operating income (expense):
 
 
 
 
 
 
 
 
Interest expense, net of capitalized interest
(26.3
)
2.5

(23.8
)
 
(23.1
)
 
(23.1
)
 
Investment income
6.4

 
6.4

 
2.9

 
2.9

 
Loss on early debt extinguishment
(13.2
)
13.2

—

 
—

 
—

 
Other non-operating items
1.4



1.4

 
(5.5
)
 
(5.5
)
 
Total non-operating income (expense)
(31.7
)

(16.0
)
 
(25.7
)
 
(25.7
)
 
Income (loss) from continuing operations before taxes and equity in income of unconsolidated affiliates
116.3

 
144.4

 
(90.4
)
 
(76.3
)
 
Provision (benefit) for income taxes
13.1

(13.1
)
—

 
(7.7
)
7.7

—

 
"Normalized" tax rate @ 35%
—

52.1

52.1

 
—

(25.3
)
(25.3
)
 
Equity in income of unconsolidated affiliates
(4.4
)
 
(4.4
)
 
(4.1
)
 
(4.1
)
 
Income (loss) from continuing operations
107.6

 
96.7

 
(78.6
)
 
(46.9
)
 
Loss from discontinued operations before taxes
—

 
—

 
(2.9
)
 
(2.9
)
 
Benefit for income taxes
—

 
—

 
(1.0
)
 
(1.0
)
 
Loss from discontinued operations
—

 
—

 
(1.9
)
 
(1.9
)
 
Net income (loss)
$
107.6

 
$
96.7

 
$
(80.5
)
 
$
(48.8
)
 
 
 
 
 
 
 
 
 
 
Net income (loss) per share of common stock (basic):
 
 
 
 
 
 
 
 
Income (loss) from continuing operations
$
0.75

 
$
0.67

 
$
(0.55
)
 
$
(0.33
)
 
Loss from discontinued operations
—

 
—

 
(0.02
)
 
(0.02
)
 
Net income (loss) per share - basic
$
0.75

 
$
0.67

 
$
(0.57
)
 
$
(0.35
)
 
Net income (loss) per share of common stock (diluted):
 
 
 
 
 
 
 
 
Income (loss) from continuing operations
$
0.74

 
$
0.67

 
$
(0.55
)
 
$
(0.33
)
 
Loss from discontinued operations
—

 
—

 
(0.02
)
 
(0.02
)
 
Net income (loss) per share - diluted
$
0.74

 
$
0.67

 
$
(0.57
)
 
$
(0.35
)
 
 
 
 
 
 
 
 
 
 
Average shares of stock outstanding - basic
143.3

 
143.3

 
142.3

 
142.3

 
Average shares of stock outstanding - diluted
145.2

 
145.2

 
142.3

 
142.3




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