Tower International (TOWR) 8-K Results of Operations and Financial Condition

Exhibit 99.2

TOWER INTERNATIONAL, INC. AND SUBSIDIARIES

CERTAIN ITEMS INCLUDED IN NET INCOME⁽¹⁾

(Amounts in thousands, except per share amounts - unaudited)

	Three Months Ended												Year Ended			Three Months Ended
	March 31,			June 30,			September  30,			December 31,			December 31,			March 31,
	2015			2015			2015			2015			2015			2016
	(Amounts shown are after tax unless otherwise noted)															After-tax			Before tax
Income / (expense) items included in net income, net of tax:
Cost of sales
Pension actuarial loss	$	-		$	-		$	-		$	(9,118	)	$	(9,118	)	$	-		$	-
Selling, general, and administrative expenses
One-time CEO compensation awards		(933	)		(933	)		(933	)		(306	)		(3,105	)		(647	)		(951	)
Acquisition costs		-			-			(393	)		-			(393	)		-			-
Restructuring and asset impairment charges, net
One-time restructuring actions		-			-			(139	)*		-			(139	)*		-			-
Change in estimated future rent					(4,760	)		-			-			(4,760	)		-			-
Interest expense
Mark-to-market gain / (loss) on derivative financial instruments		(1,904	)		1,630			(1,006	)		(1,324	)		(2,604	)		(1,650	)		(2,426	)
Acceleration of the amortization of debt issue costs and OID		(440	)		-			-			-			(440	)		(503	)		(740	)
Other expense
Release of valuation allowances, net		-			-			-			131,095			131,095			-			-
European divestiture expenses		-			-			-			-			-			(2,432	)		(3,576	)
Discontinued operations
Income / (loss) from discontinued operations		(1,286	)		(400	)		3,246			8,764			10,324			(345	)		(345	)
Noncontrolling interests
Net income attributable to noncontrolling interests**		(80	)		(493	)		(589	)		(577	)		(1,739	)		(6	)
Total items included in net income, net of tax	$	(4,643	)	$	(4,956	)	$	186		$	128,534		$	119,121			(5,583	)
Net income  attributable to Tower International, Inc.	$	14,041		$	18,646		$	16,283		$	145,082		$	194,052		$	8,378
Memo:  Average shares outstanding (in thousands)
Basic		21,050			21,105			21,107			21,110			21,093			21,126
Diluted		21,360			21,403			21,423			21,449			21,408			21,445
Income per common share (GAAP)
Basic	$	0.67		$	0.88		$	0.77		$	6.87		$	9.20		$	0.40
Diluted		0.66			0.87			0.76			6.76			9.06			0.39
Diluted adjusted earnings per share (non-GAAP)	$	0.87		$	1.10		$	0.75		$	0.77		$	3.50		$	0.65

* One-time restructuring actions are shown net of tax of $42

** Amounts attributable to noncontrolling interests of discontinued operations, net of tax

(1) As adjusted to present the Company's Brazil and China business operations as discontinued operations.