Exhibit 99.1
U.S. GAAP to Non-GAAP Reconciliations
In addition to reporting U.S. GAAP operating results, the Company has historically reported non-GAAP financial information. Refer also to the Company's Quarterly Reports on Form 10-Q and its Annual Report on Form 10-K for the periods presented for additional information on its GAAP to non-GAAP adjustments.
Pinnacle Foods Inc.
Revised Amounts Reflecting Reclassification of Benefit Plan Components
Reconciliation of GAAP to Non-GAAP Measures
Gross Profit
(in Millions)
(Unaudited)
|
| | | | | | | |
| For the fiscal year ended December 25, 2016 |
| | | | | Gross |
| | | Gross | | Profit |
| | | Profit | | Margin |
| Reported GAAP | | $ | 916.1 |
| | 29.3 | % |
| Reclassification of pension expense/(benefit) | | 0.2 |
| | |
| Revised (GAAP) | | $ | 916.3 |
| | 29.3 | % |
| Acquisition, merger and other restructuring charges | | 7.1 |
| | |
| Other non-cash items | | (2.1 | ) | | |
| Revised Adjusted (Non-GAAP) | | $ | 921.3 |
| | 29.5 | % |
|
| | | | | | | |
| For the fiscal year ended December 31, 2017 |
| | | | | Gross |
| | | Gross | | Profit |
| | | Profit | | Margin |
| Reported GAAP | | $ | 868.1 |
| | 27.6 | % |
| Reclassification of pension expense/(benefit) | | (2.0 | ) | | |
| Revised (GAAP) | | $ | 866.1 |
| | 27.5 | % |
| Accelerated depreciation expense | | 22.6 |
| | |
| Acquisition, merger and other restructuring charges | | 17.2 |
| | |
| Other non-cash items | | 5.3 |
| | |
| Revised Adjusted (Non-GAAP) | | $ | 911.2 |
| | 29.0 | % |
|
| | | | | | | |
| For the quarter ended March 26, 2017 |
| | | | | Gross |
| | | Gross | | Profit |
| | | Profit | | Margin |
| Reported GAAP | | $ | 211.1 |
| | 27.6 | % |
| Reclassification of pension expense/(benefit) | | (0.5 | ) | | |
| Revised (GAAP) | | $ | 210.6 |
| | 27.5 | % |
| Acquisition, merger and other restructuring charges | | 5.3 |
| | |
| Other non-cash items | | 2.0 |
| | |
| Revised Adjusted (Non-GAAP) | | $ | 217.9 |
| | 28.4 | % |
|
| | | | | | | |
| For the quarter ended June 25, 2017 |
| | | | | Gross |
| | | Gross | | Profit |
| | | Profit | | Margin |
| Reported GAAP | | $ | 164.4 |
| | 22.1 | % |
| Reclassification of pension expense/(benefit) | | (0.5 | ) | | |
| Revised (GAAP) | | $ | 163.9 |
| | 22.0 | % |
| Accelerated depreciation expense | | 23.6 |
| | |
| Acquisition, merger and other restructuring charges | | 8.3 |
| | |
| Other non-cash items | | 7.4 |
| | |
| Revised Adjusted (Non-GAAP) | | $ | 203.2 |
| | 27.3 | % |
|
| | | | | | | |
| For the quarter ended September 24, 2017 |
| | | | | Gross |
| | | Gross | | Profit |
| | | Profit | | Margin |
| Reported GAAP | | $ | 219.3 |
| | 29.2 | % |
| Reclassification of pension expense/(benefit) | | (0.5 | ) | | |
| Revised (GAAP) | | $ | 218.8 |
| | 29.2 | % |
| Acquisition, merger and other restructuring charges | | 1.1 |
| | |
| Other non-cash items | | (3.7 | ) | | |
| Revised Adjusted (Non-GAAP) | | $ | 216.2 |
| | 28.8 | % |
|
| | | | | | | |
| For the quarter ended December 31, 2017 |
| | | | | Gross |
| | | Gross | | Profit |
| | | Profit | | Margin |
| Reported GAAP | | $ | 273.4 |
| | 30.9 | % |
| Reclassification of pension expense/(benefit) | | (0.5 | ) | | |
| Revised (GAAP) | | $ | 272.9 |
| | 30.9 | % |
| Accelerated depreciation expense | | (1.0 | ) | | |
| Acquisition, merger and other restructuring charges | | 2.4 |
| | |
| Other non-cash items | | (0.4 | ) | | |
| Revised Adjusted (Non-GAAP) | | $ | 273.9 |
| | 31.0 | % |
