Exhibit 99.2
(Dollar amounts in millions) | OSB | Siding | EWP | Other | Corporate | Total | ||||||||||||||||
Three Months Ended June 30, 2010 | ||||||||||||||||||||||
Sales | $ | 216.9 | $ | 130.3 | $ | 55.7 | $ | 47.6 | $ | (3.4 | ) | $ | 447.1 | |||||||||
Depreciation and amortization | 9.9 | 5.4 | 3.7 | 2.8 | 0.6 | 22.4 | ||||||||||||||||
Cost of sales and selling and administrative | 161.9 | 103.1 | 56.3 | 39.3 | 14.7 | 375.3 | ||||||||||||||||
(Gain) loss on sale or impairment of long lived assets | (0.1 | ) | (0.1 | ) | ||||||||||||||||||
Other operating credits and charges, net | 0.6 | 0.6 | ||||||||||||||||||||
Total operating costs | 171.8 | 108.5 | 60.0 | 42.1 | 15.8 | 398.2 | ||||||||||||||||
Income (loss) from operations | 45.1 | 21.8 | (4.3 | ) | 5.5 | (19.2 | ) | 48.9 | ||||||||||||||
Total non-operating income (expense) | (13.5 | ) | (13.5 | ) | ||||||||||||||||||
Income (loss) before income taxes and equity in earnings of unconsolidated affiliates | 45.1 | 21.8 | (4.3 | ) | 5.5 | (32.7 | ) | 35.4 | ||||||||||||||
Provision (benefit) for income taxes | 12.7 | 12.7 | ||||||||||||||||||||
Equity in (income) loss of unconsolidated affiliates | (2.8 | ) | 0.1 | 1.8 | (0.9 | ) | ||||||||||||||||
Income (loss) from continuing operations | 47.9 | 21.8 | (4.4 | ) | 3.7 | (45.4 | ) | 23.6 | ||||||||||||||
Reconciliation of income (loss) from continuing operations to adjusted EBITDA from continuing operations | ||||||||||||||||||||||
Income (loss) from continuing operations | 47.9 | 21.8 | (4.4 | ) | 3.7 | (45.4 | ) | 23.6 | ||||||||||||||
Income tax provision (benefit) | 12.7 | 12.7 | ||||||||||||||||||||
Interest expense, net of capitalized interest | 17.7 | 17.7 | ||||||||||||||||||||
Depreciation and amortization | 9.9 | 5.4 | 3.7 | 2.8 | 0.6 | 22.4 | ||||||||||||||||
EBITDA from continuing operations | 57.8 | 27.2 | (0.7 | ) | 6.5 | (14.4 | ) | 76.4 | ||||||||||||||
Stock based compensation expense | 0.2 | 0.2 | 0.1 | — | 1.6 | 2.1 | ||||||||||||||||
(Gain) loss on sale or impairment of long lived assets | (0.1 | ) | (0.1 | ) | ||||||||||||||||||
Investment income | (4.3 | ) | (4.3 | ) | ||||||||||||||||||
Other operating credits and charges, net | 0.6 | 0.6 | ||||||||||||||||||||
Adjusted EBITDA from continuing operations | $ | 58.0 | $ | 27.4 | $ | (0.6 | ) | $ | 6.5 | $ | (16.6 | ) | $ | 74.7 | ||||||||
Three Months Ended June 30, 2009 | ||||||||||||||||||||||
Sales | $ | 97.7 | $ | 103.9 | $ | 35.9 | $ | 29.9 | $ | — | $ | 267.4 | ||||||||||
Depreciation and amortization | 8.9 | 4.3 | 2.9 | 2.0 | 0.8 | 18.9 | ||||||||||||||||
Cost of sales and selling and administrative | 105.2 | 93.1 | 41.4 | 26.2 | 17.7 | 283.6 | ||||||||||||||||
(Gain) loss on sale or impairment of long lived assets | (1.0 | ) | (1.0 | ) | ||||||||||||||||||
Other operating credits and charges, net | (1.9 | ) | (1.9 | ) | ||||||||||||||||||
Total operating costs | 114.1 | 97.4 | 44.3 | 28.2 | 15.6 | 299.6 | ||||||||||||||||
Income (loss) from operations | (16.4 | ) | 6.5 | (8.4 | ) | 1.7 | (15.6 | ) | (32.2 | ) | ||||||||||||
Total non-operating income (expense) | (7.7 | ) | (7.7 | ) | ||||||||||||||||||
Income (loss) before income taxes and equity in earnings of unconsolidated affiliates | (16.4 | ) | 6.5 | (8.4 | ) | 1.7 | (23.3 | ) | (39.9 | ) | ||||||||||||
Provision (benefit) for income taxes | (16.0 | ) | (16.0 | ) | ||||||||||||||||||
Equity in (income) loss of unconsolidated affiliates | 2.0 | 0.2 | 1.1 | 3.3 | ||||||||||||||||||
Income (loss) from continuing operations | (18.4 | ) | 6.5 | (8.6 | ) | 0.6 | (7.3 | ) | (27.2 | ) | ||||||||||||
Reconciliation of income (loss) from continuing operations to adjusted EBITDA from continuing operations | ||||||||||||||||||||||
Income (loss) from continuing operations | (18.4 | ) | 6.5 | (8.6 | ) | 0.6 | (7.3 | ) | (27.2 | ) | ||||||||||||
Income tax benefit | (16.0 | ) | (16.0 | ) | ||||||||||||||||||
Interest expense, net of capitalized interest | 21.9 | 21.9 | ||||||||||||||||||||
Depreciation and amortization | 8.9 | 4.3 | 2.9 | 2.0 | 0.8 | 18.9 | ||||||||||||||||
EBITDA from continuing operations | (9.5 | ) | 10.8 | (5.7 | ) | 2.6 | (0.6 | ) | (2.4 | ) | ||||||||||||
Stock based compensation expense | 0.2 | 0.2 | 0.1 | — | 1.6 | 2.1 | ||||||||||||||||
(Gain) loss on sale or impairment of long lived assets | (1.0 | ) | (1.0 | ) | ||||||||||||||||||
Investment income | (8.3 | ) | (8.3 | ) | ||||||||||||||||||
Other operating credits and charges, net | (1.9 | ) | (1.9 | ) | ||||||||||||||||||
Other than temporary asset impairment | 0.8 | 0.8 | ||||||||||||||||||||
Adjusted EBITDA from continuing operations | $ | (9.3 | ) | $ | 11.0 | $ | (5.6 | ) | $ | 2.6 | $ | (9.4 | ) | $ | (10.7 | ) | ||||||
(Dollar amounts in millions) | OSB | Siding | EWP | Other | Corporate | Total | ||||||||||||||||
Six Months Ended June 30, 2010 | ||||||||||||||||||||||
Sales | $ | 333.8 | $ | 219.9 | $ | 104.5 | $ | 88.9 | $ | (3.4 | ) | $ | 743.7 | |||||||||
Depreciation and amortization | 18.5 | 10.5 | 7.1 | 5.5 | 1.2 | 42.8 | ||||||||||||||||
Cost of sales and selling and administrative | 275.1 | 179.1 | 108.0 | 77.0 | 33.8 | 673.0 | ||||||||||||||||
(Gain) loss on sale or impairment of long lived assets | 1.2 | 1.2 | ||||||||||||||||||||
Other operating credits and charges, net | 0.5 | 0.5 | ||||||||||||||||||||
Total operating costs | 293.6 | 189.6 | 115.1 | 82.5 | 36.7 | 717.5 | ||||||||||||||||
Income (loss) from operations | 40.2 | 30.3 | (10.6 | ) | 6.4 | (40.1 | ) | 26.2 | ||||||||||||||
Total non-operating income (expense) | (22.9 | ) | (22.9 | ) | ||||||||||||||||||
Income (loss) before income taxes and equity in earnings of unconsolidated affiliates | 40.2 | 30.3 | (10.6 | ) | 6.4 | (63.0 | ) | 3.3 | ||||||||||||||
Provision (benefit) for income taxes | 2.4 | 2.4 | ||||||||||||||||||||
Equity in (income) loss of unconsolidated affiliates | (3.2 | ) | 0.3 | 2.7 | (0.2 | ) | ||||||||||||||||
Income (loss) from continuing operations | 43.4 | 30.3 | (10.9 | ) | 3.7 | (65.4 | ) | 1.1 | ||||||||||||||
Reconciliation of income (loss) from continuing operations to adjusted EBITDA from continuing operations | ||||||||||||||||||||||
Income (loss) from continuing operations | 43.4 | 30.3 | (10.9 | ) | 3.7 | (65.4 | ) | 1.1 | ||||||||||||||
Provision (benefit) for income taxes | 2.4 | 2.4 | ||||||||||||||||||||
Interest expense, net of capitalized interest | 34.5 | 34.5 | ||||||||||||||||||||
Depreciation and amortization | 18.5 | 10.5 | 7.1 | 5.5 | 1.2 | 42.8 | ||||||||||||||||
EBITDA from continuing operations | 61.9 | 40.8 | (3.8 | ) | 9.2 | (27.3 | ) | 80.8 | ||||||||||||||
Stock based compensation expense | 0.5 | 0.3 | 0.3 | — | 4.2 | 5.3 | ||||||||||||||||
(Gain) loss on sale or impairment of long lived assets | 1.2 | 1.2 | ||||||||||||||||||||
Investment income | (10.2 | ) | (10.2 | ) | ||||||||||||||||||
Other operating credits and charges, net | 0.5 | 0.5 | ||||||||||||||||||||
Adjusted EBITDA from continuing operations | $ | 62.4 | $ | 41.1 | $ | (3.5 | ) | $ | 9.2 | $ | (31.6 | ) | $ | 77.6 | ||||||||
Six Months Ended June 30, 2009 | ||||||||||||||||||||||
Sales | $ | 170.0 | $ | 178.5 | $ | 65.8 | $ | 58.6 | $ | — | 472.9 | |||||||||||
Depreciation and amortization | 16.0 | 9.0 | 5.9 | 5.1 | 2.0 | 38.0 | ||||||||||||||||
Cost of sales and selling and administrative | 192.1 | 160.9 | 77.3 | 50.3 | 35.6 | 516.2 | ||||||||||||||||
(Gain) loss on sale or impairment of long lived assets | (0.9 | ) | (0.9 | ) | ||||||||||||||||||
Other operating credits and charges, net | (5.7 | ) | (5.7 | ) | ||||||||||||||||||
Total operating costs | 208.1 | 169.9 | 83.2 | 55.4 | 31.0 | 547.6 | ||||||||||||||||
Income (loss) from operations | (38.1 | ) | 8.6 | (17.4 | ) | 3.2 | (31.0 | ) | (74.7 | ) | ||||||||||||
Total non-operating income (expense) | (12.2 | ) | (12.2 | ) | ||||||||||||||||||
Income (loss) before income taxes and equity in earnings of unconsolidated affiliates | (38.1 | ) | 8.6 | (17.4 | ) | 3.2 | (43.2 | ) | (86.9 | ) | ||||||||||||
Provision (benefit) for income taxes | (35.3 | ) | (35.3 | ) | ||||||||||||||||||
Equity in (income) loss of unconsolidated affiliates | 4.5 | 0.4 | 1.0 | 5.9 | ||||||||||||||||||
Income (loss) from continuing operations | (42.6 | ) | 8.6 | (17.8 | ) | 2.2 | (7.9 | ) | (57.5 | ) | ||||||||||||
Reconciliation of income (loss) from continuing operations to adjusted EBITDA from continuing operations | ||||||||||||||||||||||
Income (loss) from continuing operations | (42.6 | ) | 8.6 | (17.8 | ) | 2.2 | (7.9 | ) | (57.5 | ) | ||||||||||||
Provision (benefit) for income taxes | (35.3 | ) | (35.3 | ) | ||||||||||||||||||
Interest expense, net of capitalized interest | 34.8 | 34.8 | ||||||||||||||||||||
Depreciation and amortization | 16.0 | 9.0 | 5.9 | 5.1 | 2.0 | 38.0 | ||||||||||||||||
EBITDA from continuing operations | (26.6 | ) | �� | 17.6 | (11.9 | ) | 7.3 | (6.4 | ) | (20.0 | ) | |||||||||||
Stock based compensation expense | 0.4 | 0.3 | 0.3 | — | 3.0 | 4.0 | ||||||||||||||||
(Gain) loss on sale or impairment of long lived assets | (0.9 | ) | (0.9 | ) | ||||||||||||||||||
(Gain) on early debt extinguishment | (0.6 | ) | (0.6 | ) | ||||||||||||||||||
Investment income | (14.4 | ) | (14.4 | ) | ||||||||||||||||||
Other operating credits and charges, net | (5.7 | ) | (5.7 | ) | ||||||||||||||||||
Other than temporary asset impairment | 1.7 | 1.7 | ||||||||||||||||||||
Adjusted EBITDA from continuing operations | $ | (26.2 | ) | $ | 17.9 | $ | (11.6 | ) | $ | 7.3 | $ | (23.3 | ) | $ | (35.9 | ) | ||||||