Meadwestvaco (MWV) 8-K MeadWestvaco Reports Third Quarter Results

1

Reconciliation of GAAP to Non-GAAP

Net Income (Loss)

($ Millions)

($ in millions after-tax, except Per Share)

3rd Quarter 2005

3rd Quarter 2004

After-tax

Per Share

After-tax

Per Share

Net Income (Loss)

55

$     ��

0.30

$   

105

$    

0.52

$   

Discontinued Operations-Papers & related

(23)

(0.12)

Hurricane Katrina/Rita Losses

13

0.07

Restructuring

7

0.04

33

0.16

Net Income (Loss) before Other Items

75

$      

0.41

$   

115

$    

0.56

$   

Less Gains on Sales of Forestlands

10

0.05

40

0.19

Net Income (Loss) before Other Items & Land Sales

65

$      

0.36

$   

75

$      

0.37

$   

($ in millions after-tax, except Per Share)

9 Months 2005

9 Months 2004

After-tax

Per Share

After-tax

Per Share

Net Income (Loss)

(34)

$     

(0.18)

$  

150

$    

0.74

$   

Discontinued Operations-Papers & related

93

0.48

32

0.16

Hurricane Katrina/Rita Losses

13

0.06

Debt Retirement

56

0.29

Restructuring

16

0.08

43

0.21

Net Income (Loss) before Other Items

144

$    

0.73

$   

225

$    

1.11

$   

Less Gains on Sales of Forestlands

35

0.18

92

0.46

Net Income (Loss) before Other Items & Land Sales

109

$    

0.55

$   

133

$    

0.65

$   

Exhibit 99.2