Valmont – Recast 2015 Segment Figures (Cont.) We believe it is useful when considering Company performance for the non-GAAP adjusted net earnings to be considered by management and investors with the related reported GAAP measures. 23 Unaudited and in 000's For the Third Quarter Ended Sept. 27, 2015 Segment Operating Income Reconciliation Engineered Support Structures Energy & Mining Utility Support Structures Coatings Irrigation Other/ Corporate TOTAL Operating income (loss) - as reported $ 20,072 $ (4,302) $ 14,525 $ 3,148 $ 14,193 $ (10,624) $ 37,012 Restructuring expenses 1,597 2,971 1,159 806 52 2,215 8,800 Impairment of goodwill and trade names - 5,000 - 10,200 - - 15,200 Adjusted Operating Income $ 21,669 $ 3,669 $ 15,684 $14,154 $ 14,245 $ (8,409) $ 61,012 Sales, net of intercompany eliminations #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? Operating Income as a % of Sales #NAME? #NAME? #NAME? #NAME? #NAME? NM Adjusted Operating Income as a % of Sales #NAME? #NAME? #NAME? #NAME? #NAME? NM For the Fourth Quarter Ended Dec. 26, 2015 Segment Operating Income Reconciliation Engineered Support Structures Energy & Mining Utility Support Structures Coatings Irrigation Other/ Corporate TOTAL Operating income (loss) - as reported $ 13,850 $(21,523) (2,414) 5,363 8,305 (20,581) $ (17,000) Restructuring expenses 4,159 2,353 1,578 1,005 876 6,038 16,009 Other non-recurring charges* - - 17,001 - 7,009 - 24,010 Impairment of goodwill and trade names - 19,640 - 6,530 - 600 26,770 Adjusted Operating Income $ 18,009 $ 470 $ 16,165 $12,898 $ 16,190 $ (13,943) $ 49,789 Sales, net of intercompany eliminations #NAME? #NAME? #NAME? #NAME? #NAME? - 633,828 Operating Income as a % of Sales #NAME? #NAME? #NAME? #NAME? #NAME? NM Adjusted Operating Income as a % of Sales #NAME? #NAME? #NAME? #NAME? #NAME? NM * Other non-recurring charges (pre-tax) are the provision for the Utility commercial settlement and the allowance for doubtful China Irrigation receivable. On an after-tax basis, the line also includes $7.1 million of deferred income tax expense due to a 2% decrease in the U.K. tax rate.
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