Exhibit 99.3
ARAMARK CORPORATION AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP MEASURES
(Unaudited)
(In Thousands)
In the second quarter of fiscal 2002, ARAMARK sold its ownership interests in the Boston Red Sox and a related entity, resulting in a pre-tax gain of $37.9 million, which is reported as other income. The gain from the sale of the Boston Red Sox and a related entity has been excluded from the comparisons of operating income to enhance comparability due to the size and unusual nature of this gain.
Three Months Ended | % Change | Six Months Ended | % Change | |||||||||||||||||
March 28, 2003 | March 29, 2002 | March 28, 2003 | March 29, 2002 | |||||||||||||||||
Operating Income (as reported) | $ | 95,341 | $ | 125,767 | -24 | % | $ | 223,847 |
| $ | 236,095 |
| -5 | % | ||||||
Less: Other Income |
| — |
| 37,889 |
| — |
|
| 37,889 |
| ||||||||||
Operating Income (as adjusted) | $ | 95,341 | $ | 87,878 | 8 | % | $ | 223,847 |
| $ | 198,206 |
| 13 | % | ||||||
Operating Income Margins (as reported) |
| 5.0 | % |
| 5.8 | % | ||||||||||||||
Less: Other Income |
| 0.0 | % |
| 0.9 | % | ||||||||||||||
Operating Income Margins (as adjusted) |
| 5.0 | % |
| 4.9 | % | ||||||||||||||
The impact of currency translation has been excluded from the comparison of operating income in the Food and Support Services – International segment to enhance comparability by identifying the portion of the operating income increase related to this item and provide a comparison of results on a constant currency basis when evaluating International segment results.
Three Months Ended | % Change | Six Months Ended | % Change | |||||||||||||||||
March 28, 2003 | March 29, 2002 | March 28, 2003 | March 29, 2002 | |||||||||||||||||
Food and Support Services – International – Operating Income (GAAP) | $ | 17,113 | $ | 11,253 |
| 52 | % | $ | 31,071 | $ | 22,780 |
| 36 | % | ||||||
Less: Impact of Currency Translation |
| — |
| (1,640 | ) |
| — |
| (2,513 | ) | ||||||||||
Food and Support Services – International – Operating Income (as adjusted) | $ | 17,113 | $ | 12,893 |
| 33 | % | $ | 31,071 | $ | 25,293 |
| 23 | % | ||||||