Exhibit 99.2
(Dollar amounts in millions) | OSB | Siding | EWP | Other | Corporate | Total | ||||||||||||||||||
Quarter to Date Ended December 31, 2009 | ||||||||||||||||||||||||
Sales | $ | 113.7 | $ | 86.2 | $ | 44.1 | $ | 31.1 | — | $ | 275.1 | |||||||||||||
Depreciation and amortization | 8.9 | 4.4 | 3.1 | 2.7 | 0.7 | 19.8 | ||||||||||||||||||
Cost of sales and selling and administrative | 119.6 | 77.3 | 49.6 | 30.4 | 20.4 | 297.3 | ||||||||||||||||||
(Gain) loss on sale or impairment of long lived assets | (0.4 | ) | (0.4 | ) | ||||||||||||||||||||
Other operating credits and charges, net | 8.9 | 8.9 | ||||||||||||||||||||||
Total operating costs | 128.5 | 81.7 | 52.7 | 33.1 | 29.6 | 325.6 | ||||||||||||||||||
Income (loss) from operations | (14.8 | ) | 4.5 | (8.6 | ) | (2.0 | ) | (29.6 | ) | (50.5 | ) | |||||||||||||
Total non-operating income (expense) | (11.8 | ) | (11.8 | ) | ||||||||||||||||||||
Income (loss) before income taxes and equity in earnings of unconsolidated affiliates | (14.8 | ) | 4.5 | (8.6 | ) | (2.0 | ) | (41.4 | ) | (62.3 | ) | |||||||||||||
Provision (benefit) for income taxes | (17.7 | ) | (17.7 | ) | ||||||||||||||||||||
Equity in (income) loss of unconsolidated affiliates | 2.2 | — | 0.5 | (0.5 | ) | — | 2.2 | |||||||||||||||||
Income (loss) from continuing operations | $ | (17.0 | ) | $ | 4.5 | $ | (9.1 | ) | $ | (1.5 | ) | $ | (23.7 | ) | $ | (46.8 | ) | |||||||
Reconciliation of income (loss) from continuing operations to adjusted EBITDA from continuing operations | ||||||||||||||||||||||||
Income (loss) from continuing operations | $ | (17.0 | ) | $ | 4.5 | $ | (9.1 | ) | $ | (1.5 | ) | $ | (23.7 | ) | $ | (46.8 | ) | |||||||
Income tax benefit | (17.7 | ) | (17.7 | ) | ||||||||||||||||||||
Investment income | (6.0 | ) | (6.0 | ) | ||||||||||||||||||||
Realized gain on long term investments | (18.7 | ) | (18.7 | ) | ||||||||||||||||||||
Interest expense, net of capitalized interest | 18.3 | 18.3 | ||||||||||||||||||||||
Depreciation and amortization | 8.9 | 4.4 | 3.1 | 2.7 | 0.7 | 19.8 | ||||||||||||||||||
EBITDA from continuing operations | (8.1 | ) | 8.9 | (6.0 | ) | 1.2 | (47.1 | ) | (51.0 | ) | ||||||||||||||
Stock based compensation expense | 0.2 | 0.2 | 0.1 | — | 1.4 | 1.9 | ||||||||||||||||||
(Gain) loss on sale or impairment of long lived assets | (0.4 | ) | (0.4 | ) | ||||||||||||||||||||
Other operating credits and charges, net | 8.9 | 8.9 | ||||||||||||||||||||||
Other than temporary asset impairment | 0.2 | 0.2 | ||||||||||||||||||||||
Early debt extinguishment | 21.1 | 21.1 | ||||||||||||||||||||||
Adjusted EBITDA from continuing operations | $ | (7.9 | ) | $ | 9.1 | $ | (5.9 | ) | $ | 1.2 | $ | (15.9 | ) | $ | (19.3 | ) | ||||||||
Quarter to Date Ended December 31, 2008 | ||||||||||||||||||||||||
Sales | $ | 109.1 | $ | 76.0 | $ | 45.2 | $ | 19.9 | $ | — | $ | 250.2 | ||||||||||||
Depreciation and amortization | 9.0 | 3.9 | 3.9 | 1.9 | 1.3 | 20.0 | ||||||||||||||||||
Cost of sales and selling and administrative | 129.0 | 83.1 | 53.7 | 19.6 | 15.4 | 300.8 | ||||||||||||||||||
(Gain) loss on sale or impairment of long lived assets | (0.5 | ) | (0.5 | ) | ||||||||||||||||||||
Goodwill impairment | 273.5 | 273.5 | ||||||||||||||||||||||
Other operating credits and charges, net | 22.6 | 22.6 | ||||||||||||||||||||||
Total operating costs | 138.0 | 87.0 | 57.6 | 21.5 | 312.3 | 616.4 | ||||||||||||||||||
Income (loss) from operations | (28.9 | ) | (11.0 | ) | (12.4 | ) | (1.6 | ) | (312.3 | ) | (366.2 | ) | ||||||||||||
Total non-operating income (expense) | (20.3 | ) | (20.3 | ) | ||||||||||||||||||||
Income (loss) before income taxes and equity in earnings of unconsolidated affiliates | (28.9 | ) | (11.0 | ) | (12.4 | ) | (1.6 | ) | (332.6 | ) | (386.5 | ) | ||||||||||||
Provision (benefit) for income taxes | (48.3 | ) | (48.3 | ) | ||||||||||||||||||||
Equity in (income) loss of unconsolidated affiliates | 2.2 | (0.5 | ) | (0.3 | ) | — | 1.4 | |||||||||||||||||
Income (loss) from continuing operations | (31.1 | ) | (11.0 | ) | (11.9 | ) | (1.3 | ) | (284.3 | ) | (339.6 | ) | ||||||||||||
Reconciliation of income (loss) from continuing operations to adjusted EBITDA from continuing operations | ||||||||||||||||||||||||
Income (loss) from continuing operations | (31.1 | ) | (11.0 | ) | (11.9 | ) | (1.3 | ) | (284.3 | ) | (339.6 | ) | ||||||||||||
Income tax benefit | (48.3 | ) | (48.3 | ) | ||||||||||||||||||||
Investment income | (6.9 | ) | (6.9 | ) | ||||||||||||||||||||
Interest expense, net of capitalized interest | 12.8 | 12.8 | ||||||||||||||||||||||
Depreciation and amortization | 9.0 | 3.9 | 3.9 | 1.9 | 1.3 | 20.0 | ||||||||||||||||||
EBITDA from continuing operations | (22.1 | ) | (7.1 | ) | (8.0 | ) | 0.6 | (325.4 | ) | (362.0 | ) | |||||||||||||
Stock based compensation expense | 0.3 | 0.2 | 0.1 | 0.1 | 1.7 | 2.4 | ||||||||||||||||||
(Gain) loss on sale or impairment of long lived assets | (0.5 | ) | (0.5 | ) | ||||||||||||||||||||
Other operating credits and charges, net | 22.6 | 22.6 | ||||||||||||||||||||||
Other than temporary asset impairment | 27.4 | 27.4 | ||||||||||||||||||||||
Goodwill impairment | 273.5 | 273.5 | ||||||||||||||||||||||
Adjusted EBITDA from continuing operations | $ | (21.8 | ) | $ | (6.9 | ) | $ | (7.9 | ) | $ | 0.7 | $ | (0.7 | ) | $ | (36.6 | ) | |||||||
(Dollar amounts in millions) | OSB | Siding | EWP | Other | Corporate | Total | |||||||||||||||||
Year Ended December 31, 2009 | |||||||||||||||||||||||
Sales | $ | 406.2 | $ | 373.8 | $ | 157.7 | $ | 117.0 | $ | — | $ | 1,054.7 | |||||||||||
Depreciation and amortization | 35.2 | 18.5 | 12.2 | 10.7 | 3.4 | 80.0 | |||||||||||||||||
Cost of sales and selling and administrative | 427.9 | 326.0 | 177.8 | 104.1 | 73.1 | 1,108.9 | |||||||||||||||||
(Gain) loss on sale or impairment of long lived assets | (2.5 | ) | (2.5 | ) | |||||||||||||||||||
Other operating credits and charges, net | 1.6 | 1.6 | |||||||||||||||||||||
Total operating costs | 463.1 | 344.5 | 190.0 | 114.8 | 75.6 | 1,188.0 | |||||||||||||||||
Income (loss) from operations | (56.9 | ) | 29.3 | (32.3 | ) | 2.2 | (75.6 | ) | (133.3 | ) | |||||||||||||
Total non-operating income (expense) | (36.1 | ) | (36.1 | ) | |||||||||||||||||||
Income (loss) before income taxes and equity in earnings of unconsolidated affiliates | (56.9 | ) | 29.3 | (32.3 | ) | 2.2 | (111.7 | ) | (169.4 | ) | |||||||||||||
Provision (benefit) for income taxes | (63.4 | ) | (63.4 | ) | |||||||||||||||||||
Equity in (income) loss of unconsolidated affiliates | 8.7 | 0.9 | 1.4 | 11.0 | |||||||||||||||||||
Income (loss) from continuing operations | (65.6 | ) | 29.3 | (33.2 | ) | 0.8 | (48.3 | ) | (117.0 | ) | |||||||||||||
Reconciliation of income (loss) from continuing operations to adjusted EBITDA from continuing operations | |||||||||||||||||||||||
Income (loss) from continuing operations | (65.6 | ) | 29.3 | (33.2 | ) | 0.8 | (48.3 | ) | (117.0 | ) | |||||||||||||
Income tax benefit | (63.4 | ) | (63.4 | ) | |||||||||||||||||||
Realized gain on long term investments | (18.7 | ) | (18.7 | ) | |||||||||||||||||||
Investment income | (26.1 | ) | (26.1 | ) | |||||||||||||||||||
Interest expense, net of capitalized interest | 71.6 | 71.6 | |||||||||||||||||||||
Depreciation and amortization | 35.2 | 18.5 | 12.2 | 10.7 | 3.4 | 80.0 | |||||||||||||||||
EBITDA from continuing operations | (30.4 | ) | 47.8 | (21.0 | ) | 11.5 | (81.5 | ) | (73.6 | ) | |||||||||||||
Stock based compensation expense | 0.7 | 0.6 | 0.5 | — | 5.6 | 7.4 | |||||||||||||||||
(Gain) loss on sale or impairment of long lived assets | (2.5 | ) | (2.5 | ) | |||||||||||||||||||
Other operating credits and charges, net | 1.6 | 1.6 | |||||||||||||||||||||
Other than temporary asset impairment | 2.0 | 2.0 | |||||||||||||||||||||
Early debt extinguishment | 20.7 | 20.7 | |||||||||||||||||||||
Adjusted EBITDA from continuing operations | $ | (29.7 | ) | $ | 48.4 | $ | (20.5 | ) | $ | 11.5 | $ | (54.1 | ) | $ | (44.4 | ) | |||||||
Year Ended December 31, 2008 | |||||||||||||||||||||||
Sales | $ | 621.5 | $ | 423.8 | $ | 234.5 | $ | 96.4 | $ | — | $ | 1,376.2 | |||||||||||
Depreciation and amortization | 49.6 | 20.5 | 15.8 | 9.0 | 5.5 | 100.4 | |||||||||||||||||
Cost of sales and selling and administrative | 715.8 | 400.5 | 259.4 | 90.9 | 80.0 | 1,546.6 | |||||||||||||||||
(Gain) loss on sale or impairment of long lived assets | 9.0 | 9.0 | |||||||||||||||||||||
Goodwill impairment | 273.5 | 273.5 | |||||||||||||||||||||
Other operating credits and charges, net | 90.3 | 90.3 | |||||||||||||||||||||
Total operating costs | 765.4 | 421.0 | 275.2 | 99.9 | 458.3 | 2,019.8 | |||||||||||||||||
Loss from operations | (143.9 | ) | 2.8 | (40.7 | ) | (3.5 | ) | (458.3 | ) | (643.6 | ) | ||||||||||||
Total non-operating income (expense) | (109.7 | ) | (109.7 | ) | |||||||||||||||||||
Income (loss) before income taxes and equity in earnings of unconsolidated affiliates | (143.9 | ) | 2.8 | (40.7 | ) | (3.5 | ) | (568.0 | ) | (753.3 | ) | ||||||||||||
Provision (benefit) for income taxes | (202.0 | ) | (202.0 | ) | |||||||||||||||||||
Equity in (income) loss of unconsolidated affiliates | 11.3 | (0.5 | ) | 3.2 | 14.0 | ||||||||||||||||||
Income (loss) from continuing operations | (155.2 | ) | 2.8 | (40.2 | ) | (6.7 | ) | (366.0 | ) | (565.3 | ) | ||||||||||||
Reconciliation of income (loss) from continuing operations to adjusted EBITDA from continuing operations | |||||||||||||||||||||||
Income (loss) from continuing operations | (155.2 | ) | 2.8 | (40.2 | ) | (6.7 | ) | (366.0 | ) | (565.3 | ) | ||||||||||||
Income tax benefit | (202.0 | ) | (202.0 | ) | |||||||||||||||||||
Investment income | (38.4 | ) | (38.4 | ) | |||||||||||||||||||
Interest expense, net of capitalized interest | 49.1 | 49.1 | |||||||||||||||||||||
Depreciation and amortization | 49.6 | 20.5 | 15.8 | 9.0 | 5.5 | 100.4 | |||||||||||||||||
EBITDA from continuing operations | (105.6 | ) | 23.3 | (24.4 | ) | 2.3 | (551.8 | ) | (656.2 | ) | |||||||||||||
Stock based compensation expense | 1.3 | 0.7 | 0.6 | 0.1 | 7.0 | 9.7 | |||||||||||||||||
(Gain) loss on sale or impairment of long lived assets | 9.0 | 9.0 | |||||||||||||||||||||
Other operating credits and charges, net | 90.3 | 90.3 | |||||||||||||||||||||
Other than temporary asset impairment | 118.6 | 118.6 | |||||||||||||||||||||
Goodwill impairment | 273.5 | 273.5 | |||||||||||||||||||||
Adjusted EBITDA from continuing operations | $ | (104.3 | ) | $ | 24.0 | $ | (23.8 | ) | $ | 2.4 | $ | (53.4 | ) | $ | (155.1 | ) | |||||||