Exhibit 99.2
TYCO ELECTRONICS LTD.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES
For the Quarter Ended December 26, 2008
(UNAUDITED)
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| Adjustments |
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| |||||||||
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| US GAAP |
| Restructuring |
| State of |
| Other Items, |
| Adjusted |
| |||||
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| (in millions) |
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(Loss) Income from Operations: |
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Electronic Components |
| $ | (16 | ) | $ | 42 |
| $ | — |
| $ | — |
| $ | 26 |
|
Network Solutions |
| 45 |
| 19 |
| — |
| — |
| 64 |
| |||||
Specialty Products |
| 28 |
| 14 |
| — |
| 8 |
| 50 |
| |||||
Undersea Telecommunications |
| 38 |
| 3 |
| — |
| — |
| 41 |
| |||||
Wireless Systems |
| (107 | ) | — |
| 111 |
| — |
| 4 |
| |||||
Pre-Separation litigation charges, net |
| (9 | ) | — |
| — |
| 9 |
| — |
| |||||
Total |
| $ | (21 | ) | $ | 78 |
| $ | 111 |
| $ | 17 |
| $ | 185 |
|
(1) Includes $77 million recorded in restructuring and other charges, net and $1 million recorded in cost of sales.
(2) Includes $61 million recorded in cost of sales and $50 million recorded in selling, general, and administrative expenses.
(3) Consists of $9 million of costs related to the settlement of pre-Separation securities litigation recorded in pre-Separation litigation charges, net and $8 million of costs related to a product liability matter from several years ago recorded in selling, general, and administrative expenses.
(4) Adjusted income from operations is a non-GAAP measure.
TYCO ELECTRONICS LTD.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES
For the Quarter Ended September 26, 2008
(UNAUDITED)
|
|
|
| Adjustments |
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| |||||||||
|
| US GAAP |
| Restructuring |
| Impairment of |
| Other Items, |
| Adjusted |
| |||||
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| (in millions) |
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Income from Operations: |
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| |||||
Electronic Components |
| $ | 33 |
| $ | 122 |
| $ | 137 |
| $ | — |
| $ | 292 |
|
Network Solutions |
| 66 |
| 5 |
| — |
| — |
| 71 |
| |||||
Specialty Products |
| 66 |
| 3 |
| — |
| 8 |
| 77 |
| |||||
Undersea Telecommunications |
| 39 |
| 2 |
| — |
| — |
| 41 |
| |||||
Wireless Systems |
| 24 |
| (1 | ) | — |
| — |
| 23 |
| |||||
Pre-Separation litigation charges, net |
| 8 |
| — |
| — |
| (8 | ) | — |
| |||||
Total |
| $ | 236 |
| $ | 131 |
| $ | 137 |
| $ | — |
| $ | 504 |
|
(1) Includes $123 million recorded in restructuring and other charges, net and $8 million recorded in cost of sales.
(2) Consists of goodwill impairment of $103 million and long-lived asset impairment of $34 million recorded in impairment of goodwill and long-lived assets.
(3) Consists of $8 million of income related to insurance recoveries on pre-Separation securities litigation recorded in pre-Separation litigation charges, net and $8 million of costs related to a customs settlement recorded in selling, general and administrative expenses.
(4) Adjusted income from operations is a non-GAAP measure.
TYCO ELECTRONICS LTD.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES
For the Quarter Ended June 27, 2008
(UNAUDITED)
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|
| Adjustments |
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| ||||||
|
| US GAAP |
| Restructuring |
| Other Items, |
| Adjusted |
| ||||
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| (in millions) |
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Income from Operations: |
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Electronic Components |
| $ | 334 |
| $ | 11 |
| $ | — |
| $ | 345 |
|
Network Solutions |
| 66 |
| 4 |
| — |
| 70 |
| ||||
Specialty Products |
| 83 |
| — |
| — |
| 83 |
| ||||
Undersea Telecommunications |
| 39 |
| 1 |
| — |
| 40 |
| ||||
Wireless Systems |
| 22 |
| — |
| — |
| 22 |
| ||||
Pre-Separation litigation charges, net |
| (7 | ) | — |
| 7 |
| — |
| ||||
Total |
| $ | 537 |
| $ | 16 |
| $ | 7 |
| $ | 560 |
|
(1) Includes $16 million recorded in restructuring and other charges, net.
(2) Consists of $7 million of net costs related to the settlement of pre-Separation securities litigation recorded in pre-Separation litigation charges, net.
(3) Adjusted income from operations is a non-GAAP measure.
TYCO ELECTRONICS LTD.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES
For the Quarter Ended March 28, 2008
(UNAUDITED)
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| Adjustments |
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| Restructuring |
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| and Other |
| Other Items, |
| Adjusted |
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| US GAAP |
| Charges, Net (1) |
| Net (2) |
| (Non-GAAP) (3) |
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| (in millions) |
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Income from Operations: |
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Electronic Components |
| $ | 342 |
| $ | 15 |
| $ | (36 | ) | $ | 321 |
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Network Solutions |
| 53 |
| 9 |
| — |
| 62 |
| ||||
Specialty Products |
| 77 |
| — |
| — |
| 77 |
| ||||
Undersea Telecommunications |
| 39 |
| 2 |
| — |
| 41 |
| ||||
Wireless Systems |
| 13 |
| — |
| — |
| 13 |
| ||||
Pre-Separation litigation charges, net |
| (23 | ) | — |
| 23 |
| — |
| ||||
Total |
| $ | 501 |
| $ | 26 |
| $ | (13 | ) | $ | 514 |
|
(1) Includes $25 million recorded in restructuring and other charges, net and $1 million recorded in cost of sales.
(2) Consists of a $36 million gain on the sale of real estate recorded in selling, general and administrative expenses and $23 million of costs related to the settlement of pre-Separation securities litigation recorded in pre-Separation litigation charges, net.
(3) Adjusted income from operations is a non-GAAP measure.
TYCO ELECTRONICS LTD.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES
For the Quarter Ended December 28, 2007
(UNAUDITED)
|
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|
| Adjustments |
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| |||
|
|
|
| Restructuring |
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| |||
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| and Other |
| Adjusted |
| |||
|
| US GAAP |
| Charges, Net (1) |
| (Non-GAAP) (2) |
| |||
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| (in millions) |
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Income from Operations: |
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| |||
Electronic Components |
| $ | 279 |
| $ | 15 |
| $ | 294 |
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Network Solutions |
| 69 |
| 5 |
| 74 |
| |||
Specialty Products |
| 73 |
| — |
| 73 |
| |||
Undersea Telecommunications |
| 43 |
| 1 |
| 44 |
| |||
Wireless Systems |
| 8 |
| — |
| 8 |
| |||
Total |
| $ | 472 |
| $ | 21 |
| $ | 493 |
|
(1) Includes $21 million recorded in restructuring and other charges, net.
(2) Adjusted income from operations is a non-GAAP measure.
TYCO ELECTRONICS LTD.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES
For the Year Ended September 26, 2008
(UNAUDITED)
|
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| Adjustments |
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| Impairment of |
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| Restructuring |
| Goodwill |
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| and Other |
| and Long-lived |
| Other Items, |
| Adjusted |
| |||||
|
| US GAAP |
| Charges, Net (1) |
| Assets (2) |
| Net (3) |
| (Non-GAAP) (4) |
| |||||
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| (in millions) |
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Income from Operations: |
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Electronic Components |
| $ | 988 |
| $ | 163 |
| $ | 137 |
| $ | (36 | ) | $ | 1,252 |
|
Network Solutions |
| 254 |
| 23 |
| — |
| — |
| 277 |
| |||||
Specialty Products |
| 299 |
| 3 |
| — |
| 8 |
| 310 |
| |||||
Undersea Telecommunications |
| 160 |
| 5 |
| — |
| — |
| 165 |
| |||||
Wireless Systems |
| 67 |
| — |
| — |
| — |
| 67 |
| |||||
Pre-Separation litigation charges, net |
| (22 | ) | — |
| — |
| 22 |
| — |
| |||||
Total |
| $ | 1,746 |
| $ | 194 |
| $ | 137 |
| $ | (6 | ) | $ | 2,071 |
|
(1) Includes $185 million recorded in restructuring and other charges, net and $9 million recorded in cost of sales.
(2) Consists of goodwill impairment of $103 million and long-lived asset impairment of $34 million recorded in impairment of goodwill and long-lived assets.
(3) Consists of a $36 million gain on the sale of real estate recorded in selling, general and administrative expenses, $8 million of costs related to a customs settlement, also recorded in selling, general and administrative expenses, and $22 million of net costs related to the settlement of pre-Separation securities litigation recorded in pre-Separation litigation charges, net.
(4) Adjusted income from operations is a non-GAAP measure.
TYCO ELECTRONICS LTD.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES
For the Year Ended September 28, 2007
(UNAUDITED)
|
|
|
| Adjustments |
|
|
| |||||||||
|
|
|
|
|
| Restructuring |
|
|
|
|
| |||||
|
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| and Other |
|
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| |||||
|
|
|
| Separation |
| Charges, Net |
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| |||||
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| Related |
| and Related |
| Other Items, |
| Adjusted |
| |||||
|
| US GAAP |
| Costs (1) |
| Costs (2) |
| Net (3) |
| (Non-GAAP) (4) |
| |||||
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| (in millions) |
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Income from Operations: |
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| |||||
Electronic Components |
| $ | 1,078 |
| $ | 27 |
| $ | 53 |
| $ | — |
| $ | 1,158 |
|
Network Solutions |
| 231 |
| 5 |
| 35 |
| — |
| 271 |
| |||||
Specialty Products |
| 261 |
| 6 |
| 4 |
| — |
| 271 |
| |||||
Undersea Telecommunications |
| 38 |
| 1 |
| 5 |
| — |
| 44 |
| |||||
Wireless Systems |
| 39 |
| 2 |
| 3 |
| — |
| 44 |
| |||||
Pre-Separation litigation charges, net and Separation costs |
| (931 | ) | 44 |
| — |
| 887 |
| — |
| |||||
Total |
| $ | 716 |
| $ | 85 |
| $ | 100 |
| $ | 887 |
| $ | 1,788 |
|
(1) Includes $44 million of separation costs, primarily related to employee costs, recorded in separation costs and $41 million of costs, related to building separate company functions that did not exist in the prior year, recorded in selling, general, and administrative expenses.
(2) Includes $97 million of net restructuring and other charges of which $92 million is recorded in restructuring and other charges, net and $5 million is recorded in cost of sales. Also includes $3 million of restructuring related moving costs recorded in cost of goods sold.
(3) Consists of $887 million of net costs related to pre-Separation securities litigation recorded in pre-Separation litigation charges, net.
(4) Adjusted income from operations is a non-GAAP measure.