Exhibit 99.3 Reconciliation of Adjusted income from continuing operations
As reported Quarter Ended June 30, 2013 | Adjustments | As adjusted Quarter Ended June 30, 2013 | As reported Quarter Ended March 31, 2013 | Adjustments | As adjusted Quarter Ended March 31, 2013 | As reported Quarter Ended June 30, 2012 | Adjustments | As adjusted Quarter Ended June 30, 2012 | |||||||||||||||||||
Net sales | $ | 572.6 | $ | 572.6 | $ | 537.5 | $ | 537.5 | $ | 427.8 | $ | 427.8 | |||||||||||||||
Operating costs and expenses: | |||||||||||||||||||||||||||
Cost of sales | 422.7 | 422.7 | 392.6 | 392.6 | 359.9 | 359.9 | |||||||||||||||||||||
Depreciation and amortization | 20.8 | 20.8 | 18.7 | 18.7 | 17.9 | 17.9 | |||||||||||||||||||||
Selling and administrative | 35.5 | 35.5 | 35.4 | 35.4 | 30.7 | 30.7 | |||||||||||||||||||||
(Gain) loss on sale or impairment of long-lived assets, net | (0.7 | ) | 0.7 | — | — | — | — | 0.1 | (0.1 | ) | — | ||||||||||||||||
Other operating credits and charges, net | 5.4 | (5.4 | ) | — | 1.6 | (1.6 | ) | — | 0.2 | (0.2 | ) | — | |||||||||||||||
Total operating costs and expenses | 483.7 | 479.0 | 448.3 | 446.7 | 408.8 | 408.5 | |||||||||||||||||||||
Income from operations | 88.9 | 93.6 | 89.2 | 90.8 | 19.0 | 19.3 | |||||||||||||||||||||
Non-operating income (expense): | |||||||||||||||||||||||||||
Interest expense, net of capitalized interest | (9.8 | ) | (9.8 | ) | (10.6 | ) | (10.6 | ) | (13.1 | ) | (13.1 | ) | |||||||||||||||
Investment income | 3.1 | 3.1 | 3.5 | 3.5 | 3.4 | 3.4 | |||||||||||||||||||||
Early debt extinguishment | — | — | — | — | (52.2 | ) | 52.2 | — | |||||||||||||||||||
Gain on acquisition | 35.9 | (35.9 | ) | — | — | — | |||||||||||||||||||||
Other non-operating items | (3.6 | ) | (3.6 | ) | (0.7 | ) | (0.7 | ) | (2.6 | ) | (2.6 | ) | |||||||||||||||
Total non-operating income (expense) | 25.6 | (10.3 | ) | (7.8 | ) | (7.8 | ) | (64.5 | ) | (12.3 | ) | ||||||||||||||||
Income (loss) from continuing operations before taxes and equity in income (loss) of unconsolidated affiliates | 114.5 | 83.3 | 81.4 | 83.0 | (45.5 | ) | 7.0 | ||||||||||||||||||||
Provision (benefit) for income taxes | 24.4 | (24.4 | ) | — | 23.2 | (23.2 | ) | — | (11.1 | ) | 11.1 | — | |||||||||||||||
"Normalized" tax rate @ 35% | — | 30.9 | 30.9 | — | 31.6 | 31.6 | — | 1.4 | 1.4 | ||||||||||||||||||
Equity in (income) loss of unconsolidated affiliates | (4.1 | ) | (2.7 | ) | (6.8 | ) | (7.2 | ) | (7.2 | ) | 2.8 | 2.8 | |||||||||||||||
Income (loss) from continuing operations | 94.2 | 59.2 | 65.4 | 58.6 | (37.2 | ) | 2.8 | ||||||||||||||||||||
Loss from discontinued operations before taxes | (0.2 | ) | (0.2 | ) | (0.1 | ) | (0.1 | ) | (0.1 | ) | (0.1 | ) | |||||||||||||||
Benefit for income taxes | (0.1 | ) | (0.1 | ) | — | — | — | — | |||||||||||||||||||
Loss from discontinued operations | (0.1 | ) | (0.1 | ) | (0.1 | ) | (0.1 | ) | (0.1 | ) | (0.1 | ) | |||||||||||||||
Net income (loss) | $ | 94.1 | $ | 59.1 | 65.3 | $ | 58.5 | $ | (37.3 | ) | $ | 2.7 | |||||||||||||||
Income (loss) per share of common stock (basic): | |||||||||||||||||||||||||||
Income (loss) from continuing operations | $ | 0.68 | $ | 0.43 | $ | 0.47 | $ | 0.42 | $ | (0.27 | ) | $ | 0.02 | ||||||||||||||
Loss from discontinued operations | — | — | — | — | — | — | |||||||||||||||||||||
Net income (loss) per share | $ | 0.68 | $ | 0.43 | $ | 0.47 | $ | 0.42 | $ | (0.27 | ) | $ | 0.02 | ||||||||||||||
Income (loss) per share of common stock (diluted): | |||||||||||||||||||||||||||
Income (loss) from continuing operations | $ | 0.65 | $ | 0.41 | $ | 0.45 | $ | 0.41 | $ | (0.27 | ) | $ | 0.02 | ||||||||||||||
Loss from discontinued operations | — | — | — | — | — | — | |||||||||||||||||||||
Net income (loss) per share | $ | 0.65 | $ | 0.41 | $ | 0.45 | $ | 0.41 | $ | (0.27 | ) | $ | 0.02 | ||||||||||||||
Average shares of stock outstanding - basic | 139.1 | 139.1 | 138.4 | 138.4 | 137.0 | 137.0 | |||||||||||||||||||||
Average shares of stock outstanding - diluted | 144.1 | 144.1 | 144.4 | 144.4 | 137.0 | 137.0 |
As reported Six Months Ended June 30, 2013 | Adjustments | As Adjusted Six Months Ended June 30, 2013 | As reported Six Months Ended June 30, 2012 | Adjustments | As Adjusted Six Months Ended June 30, 2012 | |||||||||||||
Net sales | $ | 1,110.1 | $ | 1,110.1 | $ | 789.3 | $ | 789.3 | ||||||||||
Operating costs and expenses: | ||||||||||||||||||
Cost of sales | 815.3 | 815.3 | 673.2 | 673.2 | ||||||||||||||
Depreciation and amortization | 39.5 | 39.5 | 37.0 | 37.0 | ||||||||||||||
Selling and administrative | 70.9 | 70.9 | 62.0 | 62.0 | ||||||||||||||
Loss on sale or impairment of long-lived assets, net | (0.7 | ) | 0.7 | — | 0.2 | (0.2 | ) | — | ||||||||||
Other operating credits and charges, net | 7.0 | (7.0 | ) | — | — | — | — | |||||||||||
Total operating costs and expenses | 932.0 | 925.7 | 772.4 | 772.2 | ||||||||||||||
Income (loss) from operations | 178.1 | 184.4 | 16.9 | 17.1 | ||||||||||||||
Non-operating income (expense): | ||||||||||||||||||
Interest expense, net of capitalized interest | (20.4 | ) | (20.4 | ) | (25.7 | ) | (1.0 | ) | (26.7 | ) | ||||||||
Investment income | 6.6 | 6.6 | 7.6 | 7.6 | ||||||||||||||
Early debt extinguishment | — | — | (52.2 | ) | 52.2 | — | ||||||||||||
Gain on acquisition | 35.9 | (35.9 | ) | — | — | — | ||||||||||||
Other non-operating items | (4.3 | ) | (4.3 | ) | (2.7 | ) | (2.7 | ) | ||||||||||
Total non-operating income (expense) | 17.8 | (18.1 | ) | (73.0 | ) | (21.8 | ) | |||||||||||
Income (loss) from continuing operations before taxes and equity in income (loss) of unconsolidated affiliates | 195.9 | 166.3 | (56.1 | ) | (4.7 | ) | ||||||||||||
Provision (benefit) for income taxes | 47.6 | (47.6 | ) | — | (12.3 | ) | 12.3 | — | ||||||||||
"Normalized" tax rate @ 35% | — | 62.5 | 62.5 | — | (3.3 | ) | (3.3 | ) | ||||||||||
Equity in (income) loss of unconsolidated affiliates | (11.3 | ) | (2.7 | ) | (14.0 | ) | 4.6 | 4.6 | ||||||||||
Income (loss) from continuing operations | 159.6 | 117.8 | (48.4 | ) | (6.0 | ) | ||||||||||||
Loss from discontinued operations before taxes | (0.3 | ) | (0.3 | ) | (0.3 | ) | (0.3 | ) | ||||||||||
Benefit for income taxes | (0.1 | ) | (0.1 | ) | (0.1 | ) | (0.1 | ) | ||||||||||
Loss from discontinued operations | (0.2 | ) | (0.2 | ) | (0.2 | ) | (0.2 | ) | ||||||||||
Net income (loss) | $ | 159.4 | $ | 117.6 | $ | (48.6 | ) | $ | (6.2 | ) | ||||||||
Income (loss) per share of common stock (basic): | ||||||||||||||||||
Income (loss) from continuing operations | $ | 1.15 | $ | 0.85 | $ | (0.35 | ) | $ | (0.04 | ) | ||||||||
Loss from discontinued operations | — | — | — | — | ||||||||||||||
Net income (loss) per share | $ | 1.15 | $ | 0.85 | $ | (0.35 | ) | $ | (0.04 | ) | ||||||||
Income (loss) per share of common stock (diluted): | ||||||||||||||||||
Income (loss) from continuing operations | $ | 1.10 | $ | 0.82 | $ | (0.35 | ) | $ | (0.04 | ) | ||||||||
Loss from discontinued operations | — | — | — | — | ||||||||||||||
Net income (loss) per share | $ | 1.10 | $ | 0.82 | $ | (0.35 | ) | $ | (0.04 | ) | ||||||||
Average shares of stock outstanding - basic | 138.8 | 138.8 | 136.8 | 136.8 | ||||||||||||||
Average shares of stock outstanding - diluted | 144.3 | 144.3 | 136.8 | 136.8 |