Lennox International 8K Regulation FD Disclosure | LII 25 Apr 12

EXHIBIT 99.2

Consolidated Statements of Operations

(Unaudited, in millions, except per share data)

	2011 as Reported															2011 Revised for Discontinued Operations															Variances

	First			Second			Third			Fourth			Full			First			Second			Third			Fourth			Full			First			Second			Third			Fourth			Full
	Quarter			Quarter			Quarter			Quarter			Year			Quarter			Quarter			Quarter			Quarter			Year			Quarter			Quarter			Quarter			Quarter			Year


Net sales	$	687.8		$	937.0		$	923.0		$	755.8		$	3,303.6		$	669.4		$	914.1		$	903.1		$	735.4		$	3,222.0		$	(18.4	)	$	(22.9	)	$	(19.9	)	$	(20.4	)	$	(81.6	)
Cost of goods sold		522.6			689.4			691.9			566.1			2,470.0			505.1			669.9			674.6			547.6			2,397.2			(17.5	)		(19.5	)		(17.3	)		(18.5	)		(72.8	)
Gross profit		165.2			247.6			231.1			189.7			833.6			164.3			244.2			228.5			187.8			824.8			(0.9	)		(3.4	)		(2.6	)		(1.9	)		(8.8	)

Operating expenses:
Selling, general and administrative expenses		173.9			175.2			166.3			144.5			659.9			167.3			169.8			161.3			140.3			638.7			(6.6	)		(5.4	)		(5.0	)		(4.2	)		(21.2	)
Losses (gains) and other expenses, net		(0.3	)		0.9			2.5			1.9			5.0			(0.3	)		1.2			2.6			1.9			5.4			-			0.3			0.1			-			0.4
Restructuring charges		1.2			2.4			10.8			1.6			16.0			1.2			2.4			10.8			1.6			16.0			-			-			-			-			-
Asset impairment		-			-			-			7.0			7.0			-			-			-			0.3			0.3			-			-			-			(6.7	)		(6.7	)
Goodwill impairment		-			-			-			7.6			7.6			-			-			-			-			-			-			-			-			(7.6	)		(7.6	)
Income from equity method investments		(2.6	)		(3.4	)		(3.0	)		(0.6	)		(9.6	)		(2.6	)		(3.4	)		(3.0	)		(0.6	)		(9.6	)		-			-			-			-			-
Operational income (loss) from continuing
operations		(7.0	)		72.5			54.5			27.7			147.7			(1.3	)		74.2			56.8			44.3			174.0			5.7			1.7			2.3			16.6			26.3

Interest expense, net		4.1			4.3			4.1			4.3			16.8			4.1			4.3			4.1			4.3			16.8			-			-			-			-			-
Other expense, net		-			0.1			-			0.2			0.3			-			0.1			-			0.2			0.3			-			-			-			-			-
Income (loss) from continuing operations
before income taxes		(11.1	)		68.1			50.4			23.2			130.6			(5.4	)		69.8			52.7			39.8			156.9			5.7			1.7			2.3			16.6			26.3
Provision (Benefit) for income taxes		(3.9	)		23.1			16.6			6.5			42.3			(1.9	)		23.7			17.4			12.4			51.6			2.0			0.6			0.8			5.9			9.3
Income (loss) from continuing operations		(7.2	)		45.0			33.8			16.7			88.3			(3.5	)		46.1			35.3			27.4			105.3			3.7			1.1			1.5			10.7			17.0

Discontinued operations:

Operational loss from discontinued operations		-			-			-			-			-			5.7			1.7			2.3			16.6			26.3			5.7			1.7			2.3			16.6			26.3
Income tax benefit		-			-			-			-			-			(2.0	)		(0.6	)		(0.8	)		(5.9	)		(9.3	)		(2.0	)		(0.6	)		(0.8	)		(5.9	)		(9.3	)
Loss from discontinued operations		-			-			-			-			-			3.7			1.1			1.5			10.7			17.0			3.7			1.1			1.5			10.7			17.0

Net income (loss)	$	(7.2	)	$	45.0		$	33.8		$	16.7		$	88.3		$	(7.2	)	$	45.0		$	33.8		$	16.7		$	88.3		$	-		$	-		$	-		$	-		$	-


Earnings per share - Diluted

Income (loss) from continuing operations	$	(0.13	)	$	0.83		$	0.64		$	0.32		$	1.65		$	(0.06	)	$	0.85		$	0.67		$	0.53		$	1.97		$	0.07		$	0.02		$	0.03		$	0.21		$	0.32

Loss from discontinued operations		-			-			-			-			-			(0.07	)		(0.02	)		(0.03	)		(0.21	)		(0.32	)		(0.07	)		(0.02	)		(0.03	)		(0.21	)		(0.32	)

Net income (loss)	$	(0.13	)	$	0.83		$	0.64		$	0.32		$	1.65		$	(0.13	)	$	0.83		$	0.64		$	0.32		$	1.65		$	-		$	-		$	-		$	-		$	-

Reconciliation of GAAP Measures and non-GAAP Measures

(Unaudited, in millions, except per share data)

	2011 as Reported														2011 Revised for Discontinued Operations														Variances
	First			Second			Third		Fourth			Full			First			Second			Third		Fourth			Full			First		Second		Third		Fourth			Full
	Quarter			Quarter			Quarter		Quarter			Year			Quarter			Quarter			Quarter		Quarter			Year			Quarter		Quarter		Quarter		Quarter			Year

Income (loss) from continuing operations before
income taxes, a GAAP measure	$	(11.1	)	$	68.1		$	50.4	$	23.2		$	130.6		$	(5.4	)	$	69.8		$	52.7	$	39.8		$	156.9		$	5.7	$	1.7	$	2.3	$	16.6		$	26.3
Special product quality adjustment		-			(2.4	)		-		(1.9	)		(4.3	)		-			(2.4	)		-		(1.9	)		(4.3	)		-		-		-		-			-
Restructuring charges		1.2			2.4			10.8		1.6			16.0			1.2			2.4			10.8		1.6			16.0			-		-		-		-			-
Asset impairment		-			-			-		7.0			7.0			-			-			-		0.3			0.3			-		-		-		(6.7	)		(6.7	)
Goodwill impairment		-			-			-		7.6			7.6			-			-			-		-			-			-		-		-		(7.6	)		(7.6	)
Items in losses (gains) and other expenses, net (1)		0.9			1.0			3.1		(0.5	)		4.5			0.9			1.3			3.2		(0.5	)		4.9			-		0.3		0.1		-			0.4
Interest expense, net		4.1			4.3			4.1		4.3			16.8			4.1			4.3			4.1		4.3			16.8			-		-		-		-			-
Other expense, net		-			0.1			-		0.2			0.3			-			0.1			-		0.2			0.3			-		-		-		-			-
Adjusted income (loss) from continuing
operations before income taxes, a non-GAAP
measure	$	(4.9	)	$	73.5		$	68.4	$	41.5		$	178.5		$	0.8		$	75.5		$	70.8	$	43.8		$	190.9		$	5.7	$	2.0	$	2.4	$	2.3		$	12.4


Income (loss) from continuing operations,
a GAAP measure	$	(7.2	)	$	45.0		$	33.8	$	16.7		$	88.3		$	(3.5	)	$	46.1		$	35.3	$	27.4		$	105.3		$	3.7	$	1.1	$	1.5	$	10.7		$	17.0
Special product quality adjustment, after tax		-			(1.5	)		-		(1.3	)		(2.8	)		-			(1.5	)		-		(1.3	)		(2.8	)		-		-		-		-			-
Restructuring charges, after tax		0.8			1.6			6.7		1.5			10.6			0.8			1.6			6.7		1.5			10.6			-		-		-		-			-
Asset impairment, after tax		-			-			-		4.5			4.5			-			-			-		0.2			0.2			-		-		-		(4.3	)		(4.3	)
Goodwill impairment, after tax		-			-			-		5.0			5.0			-			-			-		-			-			-		-		-		(5.0	)		(5.0	)
Items in losses (gains) and other expenses, net after tax (1)		0.6			0.4			2.0		-			3.0			0.6			0.6			2.0		-			3.2			-		0.2		-		-			0.2
Adjusted income (loss) from continuing
operations, a non-GAAP measure	$	(5.8	)	$	45.5		$	42.5	$	26.4		$	108.6		$	(2.1	)	$	46.8		$	44.0	$	27.8		$	116.5		$	3.7	$	1.3	$	1.5	$	1.4		$	7.9


Earnings per share from continuing operations -
diluted, a GAAP measure (2)	$	(0.13	)	$	0.83		$	0.64	$	0.32		$	1.65		$	(0.06	)	$	0.85		$	0.67	$	0.53		$	1.97		$	0.07	$	0.02	$	0.03	$	0.21		$	0.32
Special product quality adjustment, after tax		-			(0.03	)		-		(0.02	)		(0.05	)		-			(0.03	)		-		(0.02	)		(0.05	)		-		-		-		-			-
Restructuring charges, after tax		0.01			0.03			0.13		0.03			0.20			0.01			0.03			0.13		0.03			0.20			-		-		-		-			-
Asset impairment, after tax		-			-			-		0.08			0.08			-			-			-		-			-			-		-		-		(0.08	)		(0.08	)
Goodwill impairment, after tax		-			-			-		0.10			0.10			-			-			-		-			-			-		-		-		(0.10	)		(0.10	)
Items in losses (gains) and other expenses, net, after tax (1)		0.01			0.01			0.03		-			0.06			0.01			0.01			0.03		-			0.06			-		-		-		-			-
Adjusted earnings per share from continuing
operations - diluted, a non-GAAP measure (2)	$	(0.11	)	$	0.84		$	0.80	$	0.51		$	2.04		$	(0.04	)	$	0.86		$	0.83	$	0.53		$	2.18		$	0.07	$	0.02	$	0.03	$	0.02		$	0.14

(1) Items in losses, gains and other expense, net include a special legal contingency charge, acquisition costs, net change in unrealized gains or losses on open futures contracts, loss or gain on sale of entity, and other items.

(2) Reconciliation of earnings per share may not add due to rounding differences.

Lennox International (LII) 8-KRegulation FD Disclosure