Exhibit 99.2
(Dollar amounts in millions) | OSB | Siding | EWP | Other | Corporate | Total | ||||||||||||||||||
Quarter Ended September 30, 2010 | ||||||||||||||||||||||||
Sales | $ | 139.5 | $ | 104.5 | $ | 37.9 | $ | 41.3 | $ | (0.7 | ) | $ | 322.5 | |||||||||||
Depreciation and amortization | 9.4 | 3.6 | 2.3 | 2.8 | 0.6 | 18.7 | ||||||||||||||||||
Cost of sales and selling and administative | 132.7 | 91.6 | 40.2 | 36.8 | 15.2 | 316.5 | ||||||||||||||||||
Gain on sale or impairment of long lived assets | — | — | — | — | 0.9 | 0.9 | ||||||||||||||||||
Other operating credits and charges, net | — | — | — | — | 2.3 | 2.3 | ||||||||||||||||||
Total operating costs | 142.1 | 95.2 | 42.5 | 39.6 | 19.0 | 338.4 | ||||||||||||||||||
(Loss) income from operations | (2.6 | ) | 9.3 | (4.6 | ) | 1.7 | (19.7 | ) | (15.9 | ) | ||||||||||||||
Total non-operating expense | (27.7 | ) | (27.7 | ) | ||||||||||||||||||||
Income (loss) before income taxes and equity in earnings of unconsolidated affiliates | (2.6 | ) | 9.3 | (4.6 | ) | 1.7 | (47.4 | ) | (43.6 | ) | ||||||||||||||
Benefit for income taxes | — | — | — | — | (16.4 | ) | (16.4 | ) | ||||||||||||||||
Equity in loss of unconsolidated affiliates | 2.4 | — | 0.3 | 1.0 | — | 3.7 | ||||||||||||||||||
Income (loss) from continuing operations | $ | (5.0 | ) | $ | 9.3 | $ | (4.9 | ) | $ | 0.7 | $ | (31.0 | ) | $ | (30.9 | ) | ||||||||
Reconciliation of loss from continuing operations to EBITDA from continuing operations | ||||||||||||||||||||||||
Income (loss) from continuing operations | $ | (5.0 | ) | $ | 9.3 | $ | (4.9 | ) | $ | 0.7 | $ | (31.0 | ) | $ | (30.9 | ) | ||||||||
Benefit for income taxes | — | — | — | — | (16.4 | ) | (16.4 | ) | ||||||||||||||||
Interest expense, net of capitalized interest | — | — | — | — | 15.3 | 15.3 | ||||||||||||||||||
Depreciation and amortization | 9.4 | 3.6 | 2.3 | 2.8 | 0.6 | 18.7 | ||||||||||||||||||
EBITDA from continuing operations | $ | 4.4 | $ | 12.9 | $ | (2.6 | ) | $ | 3.5 | $ | (31.5 | ) | $ | (13.3 | ) | |||||||||
Stock based compensation expense | 0.2 | 0.2 | 0.1 | — | 1.2 | 1.7 | ||||||||||||||||||
(Gain) loss on sale or impairment of long lived assets | — | — | — | — | 0.9 | 0.9 | ||||||||||||||||||
Other than temporary asset impairment | — | — | — | — | 16.9 | 16.9 | ||||||||||||||||||
Investment income | — | — | — | — | (4.9 | ) | (4.9 | ) | ||||||||||||||||
Other operating credits and charges, net | — | — | — | — | 2.3 | 2.3 | ||||||||||||||||||
Adjusted EBITDA from continuing operations | $ | 4.6 | $ | 13.1 | $ | (2.5 | ) | $ | 3.5 | $ | (15.1 | ) | $ | 3.6 | ||||||||||
Quarter Ended September 30, 2009 | ||||||||||||||||||||||||
Sales | $ | 122.6 | $ | 113.0 | $ | 47.7 | $ | 27.2 | $ | — | $ | 310.5 | ||||||||||||
Depreciation and amortization | 10.3 | 5.1 | 3.2 | 2.9 | 0.7 | 22.2 | ||||||||||||||||||
Cost of sales and selling and administative | 116.4 | 91.8 | 50.7 | 23.2 | 17.1 | 299.2 | ||||||||||||||||||
Gain on sale or impairment of long lived assets | — | — | — | — | (1.2 | ) | (1.2 | ) | ||||||||||||||||
Other operating credits and charges, net | — | — | — | — | (1.6 | ) | (1.6 | ) | ||||||||||||||||
Total operating costs | 126.7 | 96.9 | 53.9 | 26.1 | 15.0 | 318.6 | ||||||||||||||||||
(Loss) income from operations | (4.1 | ) | 16.1 | (6.2 | ) | 1.1 | (15.0 | ) | (8.1 | ) | ||||||||||||||
Total non-operating expense | (12.3 | ) | (12.3 | ) | ||||||||||||||||||||
Income (loss) before income taxes and equity in earnings of unconsolidated affiliates | (4.1 | ) | 16.1 | (6.2 | ) | 1.1 | (27.3 | ) | (20.4 | ) | ||||||||||||||
Benefit for income taxes | — | — | — | — | (10.5 | ) | (10.5 | ) | ||||||||||||||||
Equity in loss of unconsolidated affiliates | 1.7 | — | — | 0.9 | — | 2.6 | ||||||||||||||||||
Income (loss) from continuing operations | $ | (5.8 | ) | $ | 16.1 | $ | (6.2 | ) | $ | 0.2 | $ | (16.8 | ) | $ | (12.5 | ) | ||||||||
Reconciliation of loss from continuing operations to EBITDA from continuing operations | ||||||||||||||||||||||||
Income (loss) from continuing operations | $ | (5.8 | ) | $ | 16.1 | $ | (6.2 | ) | $ | 0.2 | $ | (16.8 | ) | $ | (12.5 | ) | ||||||||
Benefit for income taxes | — | — | — | — | (10.5 | ) | (10.5 | ) | ||||||||||||||||
Interest expense, net of capitalized interest | — | — | — | — | 21.0 | 21.0 | ||||||||||||||||||
Depreciation and amortization | 10.3 | 5.1 | 3.2 | 2.9 | 0.7 | 22.2 | ||||||||||||||||||
EBITDA from continuing operations | $ | 4.5 | $ | 21.2 | $ | (3.0 | ) | $ | 3.1 | $ | (5.6 | ) | $ | 20.2 | ||||||||||
Stock based compensation expense | 0.1 | 0.1 | 0.1 | — | 1.2 | 1.5 | ||||||||||||||||||
(Gain) loss on sale or impairment of long lived assets | — | — | — | — | (1.2 | ) | (1.2 | ) | ||||||||||||||||
Investment income | — | — | — | — | (8.0 | ) | (8.0 | ) | ||||||||||||||||
Other than temporary asset impairment | — | — | — | — | 0.1 | 0.1 | ||||||||||||||||||
Early debt extinguishment | — | — | — | — | 0.2 | 0.2 | ||||||||||||||||||
Other operating credits and charges, net | — | — | — | — | (1.6 | ) | (1.6 | ) | ||||||||||||||||
Adjusted EBITDA from continuing operations | $ | 4.6 | $ | 21.3 | $ | (2.9 | ) | $ | 3.1 | $ | (14.9 | ) | $ | 11.2 | ||||||||||
(Dollar amounts in millions) | OSB | Siding | EWP | Other | Corporate | Total | ||||||||||||||||||
Nine months Ended September 30, 2010 | ||||||||||||||||||||||||
Sales | $ | 473.3 | $ | 324.5 | $ | 142.4 | $ | 130.2 | $ | (4.2 | ) | $ | 1,066.2 | |||||||||||
Depreciation and amortization | 28.0 | 14.1 | 9.4 | 8.4 | 1.6 | 61.5 | ||||||||||||||||||
Cost of sales and selling and administative | 407.7 | 270.8 | 148.2 | 113.7 | 49.1 | 989.5 | ||||||||||||||||||
Gain on sale or impairment of long lived assets | — | — | — | — | 2.1 | 2.1 | ||||||||||||||||||
Other operating credits and charges, net | — | — | — | — | 2.8 | 2.8 | ||||||||||||||||||
Total operating costs | 435.7 | 284.9 | 157.6 | 122.1 | 55.6 | 1,055.9 | ||||||||||||||||||
Income (loss) from operations | 37.6 | 39.6 | (15.2 | ) | 8.1 | (59.8 | ) | 10.3 | ||||||||||||||||
Total non-operating expense | (50.6 | ) | (50.6 | ) | ||||||||||||||||||||
Income (loss) before income taxes and equity in earnings of unconsolidated affiliates | 37.6 | 39.6 | (15.2 | ) | 8.1 | (110.4 | ) | (40.3 | ) | |||||||||||||||
Benefit for income taxes | — | — | — | — | (14.0 | ) | (14.0 | ) | ||||||||||||||||
Equity in (income) loss of unconsolidated affiliates | (0.8 | ) | — | 0.6 | 3.7 | — | 3.5 | |||||||||||||||||
Income (loss) from continuing operations | $ | 38.4 | $ | 39.6 | $ | (15.8 | ) | $ | 4.4 | $ | (96.4 | ) | $ | (29.8 | ) | |||||||||
Reconciliation of loss from continuing operations to EBITDA from continuing operations | ||||||||||||||||||||||||
Income (loss) from continuing operations | $ | 38.4 | $ | 39.6 | $ | (15.8 | ) | $ | 4.4 | $ | (96.4 | ) | $ | (29.8 | ) | |||||||||
Benefit for income taxes | — | — | — | — | (14.0 | ) | (14.0 | ) | ||||||||||||||||
Interest expense, net of capitalized interest | — | — | — | — | 49.8 | 49.8 | ||||||||||||||||||
Depreciation and amortization | 28.0 | 14.1 | 9.4 | 8.4 | 1.6 | 61.5 | ||||||||||||||||||
EBITDA from continuing operations | $ | 66.4 | $ | 53.7 | $ | (6.4 | ) | $ | 12.8 | $ | (59.0 | ) | $ | 67.5 | ||||||||||
Stock based compensation expense | 0.7 | 0.5 | 0.4 | — | 5.4 | 7.0 | ||||||||||||||||||
(Gain) loss on sale or impairment of long lived assets | — | — | — | — | 2.1 | 2.1 | ||||||||||||||||||
Investment income | — | — | — | — | (15.1 | ) | (15.1 | ) | ||||||||||||||||
Other then temporary asset impairment | — | — | — | — | 16.9 | 16.9 | ||||||||||||||||||
Other operating credits and charges, net | — | — | — | — | 2.8 | 2.8 | ||||||||||||||||||
Adjusted EBITDA from continuing operations | $ | 67.1 | $ | 54.2 | $ | (6.0 | ) | $ | 12.8 | $ | (46.9 | ) | $ | 81.2 | ||||||||||
Nine months Ended September 30, 2009 | ||||||||||||||||||||||||
Sales | $ | 292.5 | $ | 291.5 | $ | 113.5 | $ | 85.9 | $ | — | $ | 783.4 | ||||||||||||
Depreciation and amortization | 26.3 | 14.1 | 9.1 | 8.0 | 2.7 | 60.2 | ||||||||||||||||||
Cost of sales and selling and administative | 308.3 | 252.6 | 128.1 | 73.7 | 52.7 | 815.4 | ||||||||||||||||||
Gain on sale or impairment of long lived assets | — | — | — | — | (2.1 | ) | (2.1 | ) | ||||||||||||||||
Other operating credits and charges, net | — | — | — | — | (7.3 | ) | (7.3 | ) | ||||||||||||||||
Total operating costs | 334.6 | 266.7 | 137.2 | 81.7 | 46.0 | 866.2 | ||||||||||||||||||
Income (loss) from operations | (42.1 | ) | 24.8 | (23.7 | ) | 4.2 | (46.0 | ) | (82.8 | ) | ||||||||||||||
Total non-operating expense | (24.5 | ) | (24.5 | ) | ||||||||||||||||||||
Income (loss) before income taxes and equity in earnings of unconsolidated affiliates | (42.1 | ) | 24.8 | (23.7 | ) | 4.2 | (70.5 | ) | (107.3 | ) | ||||||||||||||
Benefit for income taxes | — | — | — | — | (45.8 | ) | (45.8 | ) | ||||||||||||||||
Equity in (income) loss of unconsolidated affiliates | 6.3 | — | 0.3 | 1.9 | — | 8.5 | ||||||||||||||||||
Income (loss) from continuing operations | $ | (48.4 | ) | $ | 24.8 | $ | (24.0 | ) | $ | 2.3 | $ | (24.7 | ) | $ | (70.0 | ) | ||||||||
Reconciliation of loss from continuing operations to EBITDA from continuing operations | ||||||||||||||||||||||||
Income (loss) from continuing operations | $ | (48.4 | ) | $ | 24.8 | $ | (24.0 | ) | $ | 2.3 | $ | (24.7 | ) | $ | (70.0 | ) | ||||||||
Benefit for income taxes | — | — | — | — | (45.8 | ) | (45.8 | ) | ||||||||||||||||
Interest expense, net of capitalized interest | — | — | — | — | 55.8 | 55.8 | ||||||||||||||||||
Depreciation and amortization | 26.3 | 14.1 | 9.1 | 8.0 | 2.7 | 60.2 | ||||||||||||||||||
EBITDA from continuing operations | $ | (22.1 | ) | $ | 38.9 | $ | (14.9 | ) | $ | 10.3 | $ | (12.0 | ) | $ | 0.2 | |||||||||
Stock based compensation expense | 0.5 | 0.4 | 0.4 | — | 4.2 | 5.5 | ||||||||||||||||||
(Gain) loss on sale or impairment of long lived assets | — | — | — | — | (2.1 | ) | (2.1 | ) | ||||||||||||||||
Investment income | — | — | — | — | (22.4 | ) | (22.4 | ) | ||||||||||||||||
Other than temporary asset impairment | — | — | — | — | 1.8 | 1.8 | ||||||||||||||||||
Early debt extinguishment | — | — | — | — | (0.4 | ) | (0.4 | ) | ||||||||||||||||
Other operating credits and charges, net | — | — | — | — | (7.3 | ) | (7.3 | ) | ||||||||||||||||
Adjusted EBITDA from continuing operations | $ | (21.6 | ) | $ | 39.3 | $ | (14.5 | ) | $ | 10.3 | $ | (38.2 | ) | $ | (24.7 | ) | ||||||||