Exhibit 99.1
ARAMARK CORPORATION AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP MEASURES
(Unaudited)
(In Thousands, Except Per Share Amounts)
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. In the third quarter of fiscal 2002, ARAMARK recorded a pre-tax gain of $5.8 million resulting principally from the sale of a residual interest in a previously divested business. These items have been excluded from the comparisons of operating income margins to enhance comparability due to the size and unusual nature of these items.
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| Nine Months Ended |
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| June 27, 2003 |
| June 28, 2002 |
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Operating Income Margins (GAAP) |
| 5.1 | % | 6.0 | % |
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Less: Other Income |
| 0.0 | % | -0.7 | % |
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Operating Income Margins (as adjusted) |
| 5.1 | % | 5.2 | % |
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The impact of currency translation has been excluded from the comparison of results to enhance comparability in the Food and Support Services - International Segment by identifying the portion of the change in sales and operating income related to changes in foreign currency, which provides a comparison of results on a constant currency basis.
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| Three Months Ended |
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| June 27, 2003 |
| June 28, 2002 |
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Food and Support Services - International - Sales (GAAP) |
| $ | 362,701 |
| $ | 298,948 |
| 21 | % |
Less: Impact of Currency Translation |
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| — |
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| (42,633 | ) |
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Food and Support Services - International - Sales (as adjusted) |
| $ | 362,701 |
| $ | 341,581 |
| 6 | % |
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| Three Months Ended |
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| June 27, 2003 |
| June 28, 2002 |
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Food and Support Services - International - Operating Income (GAAP) |
| $ | 16,181 |
| $ | 11,771 |
| 37 | % |
Less: Impact of Currency Translation |
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| — |
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| (1,833 | ) |
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Food and Support Services - International - Operating Income (as adjusted) |
| $ | 16,181 |
| $ | 13,604 |
| 19 | % |
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| Nine Months Ended |
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| June 27, 2003 |
| June 28, 2002 |
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Food and Support Services - International - Sales (GAAP) |
| $ | 1,052,255 |
| $ | 894,634 |
| 18 | % |
Less: Impact of Currency Translation |
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| — |
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| (101,556 | ) |
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Food and Support Services - International - Sales (as adjusted) |
| $ | 1,052,255 |
| $ | 996,190 |
| 6 | % |
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| Nine Months Ended |
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| June 27, 2003 |
| June 28, 2002 |
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Food and Support Services - International - Operating Income (GAAP) |
| $ | 47,252 |
| $ | 34,551 |
| 37 | % |
Less: Impact of Currency Translation |
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| — |
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| (4,345 | ) |
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Food and Support Services - International - Operating Income (as adjusted) |
| $ | 47,252 |
| $ | 38,896 |
| 21 | % |
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