Exhibit 99.2 Reconciliation of EBITDA from continuing operations and Adjusted EBITDA from continuing operations for the quarter ended March 31, 2013 and 2012.
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| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Three Months Ended March 31, 2013 (Dollar amounts in millions) | OSB | | Siding | | EWP | | South America | | Other | | Corporate | | Total |
| Sales | $ | 286.7 |
| | $ | 133.8 |
| | $ | 63.4 |
| | $ | 45.1 |
| | $ | 9.1 |
| | $ | (0.6 | ) | | $ | 537.5 |
|
| Depreciation and amortization | 8.4 |
| | 3.9 |
| | 3.3 |
| | 2.6 |
| | 0.1 |
| | 0.4 |
| | 18.7 |
|
| Cost of sales and selling and administrative | 188.2 |
| | 109.2 |
| | 63.4 |
| | 36.3 |
| | 9.3 |
| | 21.6 |
| | 428.0 |
|
| Other operating credits and charges, net | — |
| | — |
| | — |
| | — |
| | — |
| | 1.6 |
| | 1.6 |
|
| Total operating costs | 196.6 |
| | 113.1 |
| | 66.7 |
| | 38.9 |
| | 9.4 |
| | 23.6 |
| | 448.3 |
|
| Income (loss) from operations | 90.1 |
| | 20.7 |
| | (3.3 | ) | | 6.2 |
| | (0.3 | ) | | (24.2 | ) | | 89.2 |
|
| Total non-operating expense | — |
| | — |
| | — |
| | — |
| | — |
| | (7.8 | ) | | (7.8 | ) |
| Income (loss) before income taxes and equity in (income) loss of unconsolidated affiliates | 90.1 |
| | 20.7 |
| | (3.3 | ) | | 6.2 |
| | (0.3 | ) | | (32.0 | ) | | 81.4 |
|
| Provision for income taxes | — |
| | — |
| | — |
| | — |
| | — |
| | 23.2 |
| | 23.2 |
|
| Equity in (income) loss of unconsolidated affiliates | (8.0 | ) | | — |
| | 0.2 |
| | — |
| | 0.6 |
| | — |
| | (7.2 | ) |
| Income (loss) from continuing operations | $ | 98.1 |
| | $ | 20.7 |
| | $ | (3.5 | ) | | $ | 6.2 |
| | $ | (0.9 | ) | | $ | (55.2 | ) | | $ | 65.4 |
|
| Reconciliation of income (loss) from continuing operations to adjusted EBITDA from continuing operations | | | | | | | | | | | | | |
| Income (loss) from continuing operations | $ | 98.1 |
| | $ | 20.7 |
| | $ | (3.5 | ) | | $ | 6.2 |
| | $ | (0.9 | ) | | $ | (55.2 | ) | | $ | 65.4 |
|
| Provision for income taxes | — |
| | — |
| | — |
| | — |
| | — |
| | 23.2 |
| | 23.2 |
|
| Interest expense, net of capitalized interest | — |
| | — |
| | — |
| | — |
| | — |
| | 10.6 |
| | 10.6 |
|
| Depreciation and amortization | 8.4 |
| | 3.9 |
| | 3.3 |
| | 2.6 |
| | 0.1 |
| | 0.4 |
| | 18.7 |
|
| EBITDA from continuing operations | 106.5 |
| | 24.6 |
| | (0.2 | ) | | 8.8 |
| | (0.8 | ) | | (21.0 | ) | | 117.9 |
|
| Stock based compensation expense | 0.2 |
| | 0.1 |
| | 0.1 |
| | — |
| | — |
| | 1.7 |
| | 2.1 |
|
| Investment income | — |
| | — |
| | — |
| | — |
| | — |
| | (3.5 | ) | | (3.5 | ) |
| Other operating credits and charges, net | — |
| | — |
| | — |
| | — |
| | — |
| | 1.6 |
| | 1.6 |
|
| Depreciation included in equity in (income) loss of unconsolidated affiliates | 2.0 |
| | — |
| | — |
| | — |
| | 0.8 |
| | — |
| | 2.8 |
|
| Adjusted EBITDA from continuing operations | $ | 108.7 |
| | $ | 24.7 |
| | $ | (0.1 | ) | | $ | 8.8 |
| | $ | — |
| | $ | (21.2 | ) | | $ | 120.9 |
|
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
Three Months Ended March 31, 2012
(Dollar amounts in millions) | OSB | | Siding | | EWP | | South America | | Other | | Corporate | | Total |
| Sales | $ | 149.0 |
| | $ | 113.1 |
| | $ | 48.6 |
| | $ | 42.4 |
| | $ | 10.0 |
| | $ | (1.6 | ) | | $ | 361.5 |
|
| Depreciation and amortization | 8.7 |
| | 4.2 |
| | 2.8 |
| | 2.9 |
| | 0.2 |
| | 0.3 |
| | 19.1 |
|
| Cost of sales and selling and administrative | 139.4 |
| | 92.1 |
| | 48.6 |
| | 36.4 |
| | 9.9 |
| | 18.2 |
| | 344.6 |
|
| Loss on sale or impairment of long lived assets | — |
| | — |
| | — |
| | — |
| | — |
| | 0.1 |
| | 0.1 |
|
| Other operating credits and charges, net | — |
| | — |
| | — |
| | — |
| | — |
| | (0.2 | ) | | (0.2 | ) |
| Total operating costs | 148.1 |
| | 96.3 |
| | 51.4 |
| | 39.3 |
| | 10.1 |
| | 18.4 |
| | 363.6 |
|
| Income (loss) from operations | 0.9 |
| | 16.8 |
| | (2.8 | ) | | 3.1 |
| | (0.1 | ) | | (20.0 | ) | | (2.1 | ) |
| Total non-operating expense | — |
| | — |
| | — |
| | — |
| | — |
| | (8.5 | ) | | (8.5 | ) |
| Income (loss) before income taxes and equity in loss of unconsolidated affiliates | 0.9 |
| | 16.8 |
| | (2.8 | ) | | 3.1 |
| | (0.1 | ) | | (28.5 | ) | | (10.6 | ) |
| Benefit for income taxes | — |
| | — |
| | — |
| | — |
| | — |
| | (1.2 | ) | | (1.2 | ) |
| Equity in loss of unconsolidated affiliates | 1.2 |
| | — |
| | — |
| | — |
| | 0.6 |
| | — |
| | 1.8 |
|
| Income (loss) from continuing operations | $ | (0.3 | ) | | $ | 16.8 |
| | $ | (2.8 | ) | | $ | 3.1 |
| | $ | (0.7 | ) | | $ | (27.3 | ) | | $ | (11.2 | ) |
| Reconciliation of income (loss) from continuing operations to adjusted EBITDA from continuing operations | | | | | | | | | | | | | |
| Income (loss) from continuing operations | $ | (0.3 | ) | | $ | 16.8 |
| | $ | (2.8 | ) | | $ | 3.1 |
| | $ | (0.7 | ) | | $ | (27.3 | ) | | $ | (11.2 | ) |
| Benefit for income taxes | — |
| | — |
| | — |
| | — |
| | — |
| | (1.2 | ) | | (1.2 | ) |
| Interest expense, net of capitalized interest | — |
| | — |
| | — |
| | — |
| | — |
| | 12.6 |
| | 12.6 |
|
| Depreciation and amortization | 8.7 |
| | 4.2 |
| | 2.8 |
| | 2.9 |
| | 0.2 |
| | 0.3 |
| | 19.1 |
|
| EBITDA from continuing operations | 8.4 |
| | 21.0 |
| | — |
| | 6.0 |
| | (0.5 | ) | | (15.6 | ) | | 19.3 |
|
| Stock based compensation expense | 0.2 |
| | 0.1 |
| | 0.2 |
| | — |
| | — |
| | 2.2 |
| | 2.7 |
|
| Loss on sale or impairment of long lived assets | — |
| | — |
| | — |
| | — |
| | — |
| | 0.1 |
| | 0.1 |
|
| Investment income | — |
| | — |
| | — |
| | — |
| | — |
| | (4.2 | ) | | (4.2 | ) |
| Other operating credits and charges, net | — |
| | — |
| | — |
| | — |
| | — |
| | (0.2 | ) | | (0.2 | ) |
| Depreciation included in equity in loss of unconsolidated affiliates | 2.0 |
| | — |
| | 0.1 |
| | — |
| | 1.0 |
| | — |
| | 3.1 |
|
| Adjusted EBITDA from continuing operations | $ | 10.6 |
| | $ | 21.1 |
| | $ | 0.3 |
| | $ | 6.0 |
| | $ | 0.5 |
| | $ | (17.7 | ) | | $ | 20.8 |
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