Exhibit 99.3 Reconciliation of Adjusted income from continuing operations
As reported Quarter Ended December 31, 2013 | As Adjusted Quarter Ended December 31, 2013 | As reported Quarter Ended September 30, 2013 | As adjusted Quarter Ended September 30, 2013 | As reported Quarter Ended December 31, 2012 | As adjusted Quarter Ended December 31, 2012 | |||||||||||||||||||||
Adjustments | Adjustments | Adjustments | ||||||||||||||||||||||||
Net sales | $ | 479.7 | $ | 479.7 | $ | 507.4 | $ | 507.4 | $ | 453.9 | $ | 453.9 | ||||||||||||||
Operating costs and expenses: | ||||||||||||||||||||||||||
Cost of sales | 415.3 | 415.3 | 416.3 | 416.3 | 356.3 | 356.3 | ||||||||||||||||||||
Depreciation and amortization | 26.3 | 26.3 | 25.8 | 25.8 | 17.9 | 17.9 | ||||||||||||||||||||
Selling and administrative | 46.6 | (3.3 | ) | 43.3 | 33.5 | (3.0 | ) | 30.5 | 36.3 | 36.3 | ||||||||||||||||
Loss on sale or impairment of long lived assets | 0.6 | (0.6 | ) | — | 0.3 | (0.3 | ) | — | 0.4 | (0.4 | ) | — | ||||||||||||||
Other operating credits and charges, net | 12.9 | (12.9 | ) | — | (16.1 | ) | 16.1 | — | (4.1 | ) | 4.1 | — | ||||||||||||||
Total operating costs and expenses | 501.7 | 484.9 | 459.8 | 472.6 | 406.8 | 410.5 | ||||||||||||||||||||
Income (loss) from operations | (22.0 | ) | (5.2 | ) | 47.6 | 34.8 | 47.1 | 43.4 | ||||||||||||||||||
Non-operating income (expense): | ||||||||||||||||||||||||||
Interest expense, net of capitalized interest | (8.0 | ) | — | (8.0 | ) | (7.6 | ) | (7.6 | ) | (12.9 | ) | 3.0 | (9.9 | ) | ||||||||||||
Investment income | 2.0 | 2.0 | 1.7 | 1.7 | 3.1 | 3.1 | ||||||||||||||||||||
Other non-operating items | (2.3 | ) | 1.6 | (0.7 | ) | 0.2 | 0.8 | 1.0 | 19.6 | (20.0 | ) | (0.4 | ) | |||||||||||||
Total non-operating income (expense) | (8.3 | ) | (6.7 | ) | (5.7 | ) | (4.9 | ) | 9.8 | (7.2 | ) | |||||||||||||||
Income (loss) from continuing operations before taxes and equity in income of unconsolidated affiliates | (30.3 | ) | (11.9 | ) | 41.9 | 29.9 | 56.9 | 36.2 | ||||||||||||||||||
Provision (benefit) for income taxes | (10.5 | ) | 10.5 | — | 4.4 | (4.4 | ) | — | 12.6 | (12.6 | ) | — | ||||||||||||||
"Normalized" tax rate @ 35% | — | (3.9 | ) | (3.9 | ) | — | 10.5 | 10.5 | 14.1 | 14.1 | ||||||||||||||||
Equity in income of unconsolidated affiliates | (0.6 | ) | (0.6 | ) | — | — | (4.3 | ) | (4.3 | ) | ||||||||||||||||
Income (loss) from continuing operations | (19.2 | ) | (7.4 | ) | 37.5 | 19.4 | 48.6 | 26.4 | ||||||||||||||||||
Income (loss) from discontinued operations before tax | (1.9 | ) | (1.9 | ) | 1.0 | 1.0 | (3.9 | ) | (3.9 | ) | ||||||||||||||||
Provision (benefit) for income taxes | (0.7 | ) | (0.7 | ) | 0.4 | 0.4 | (1.4 | ) | (1.4 | ) | ||||||||||||||||
Income (loss) from discontinued operations | (1.2 | ) | (1.2 | ) | 0.6 | 0.6 | (2.5 | ) | (2.5 | ) | ||||||||||||||||
Net income (loss) | $ | (20.4 | ) | $ | (8.6 | ) | $ | 38.1 | $ | 20.0 | $ | 46.1 | $ | 23.9 | ||||||||||||
Income (loss) per share of common stock (basic): | ||||||||||||||||||||||||||
Income (loss) per share from continuing operations | $ | (0.14 | ) | $ | (0.05 | ) | $ | 0.27 | $ | 0.14 | $ | 0.35 | $ | 0.19 | ||||||||||||
Loss per share from discontinued operations | (0.01 | ) | (0.01 | ) | — | — | (0.02 | ) | (0.02 | ) | ||||||||||||||||
Net Income (loss) per share | $ | (0.15 | ) | $ | (0.06 | ) | $ | 0.27 | $ | 0.14 | $ | 0.33 | $ | 0.17 | ||||||||||||
Income (loss) per share of common stock (diluted): | ||||||||||||||||||||||||||
Income (loss) per share from continuing operations | $ | (0.14 | ) | $ | (0.05 | ) | $ | 0.26 | $ | 0.13 | $ | 0.34 | $ | 0.18 | ||||||||||||
Income (loss) per share from discontinued operations | (0.01 | ) | (0.01 | ) | — | 0.01 | (0.02 | ) | (0.02 | ) | ||||||||||||||||
Net Income (loss) per share | $ | (0.15 | ) | $ | (0.06 | ) | $ | 0.26 | $ | 0.14 | $ | 0.32 | $ | 0.16 | ||||||||||||
Average shares of stock outstanding - basic | 140.6 | 140.6 | 140.0 | 140.0 | 138.6 | 138.6 | ||||||||||||||||||||
Average shares of stock outstanding - diluted | 140.6 | 140.6 | 144.0 | 144.0 | 143.3 | 143.3 | ||||||||||||||||||||
As Reported Year Ended December 31, 2013 | As Adjusted Year Ended December 31, 2013 | As Reported Year Ended December 31, 2012 | As Adjusted Year Ended December 31, 2012 | ||||||||||||||
Adjustments | Adjustments | ||||||||||||||||
Net sales | $ | 2,085.2 | $ | 2,085.2 | $ | 1,691.2 | $ | 1,691.2 | |||||||||
Operating costs and expenses: | |||||||||||||||||
Cost of sales | 1,636.9 | 1,636.9 | 1,383.2 | 1,383.2 | |||||||||||||
Depreciation and amortization | 91.3 | 91.3 | 73.4 | 73.4 | |||||||||||||
Selling and administrative | 150.2 | (6.3 | ) | 143.9 | 128.4 | 128.4 | |||||||||||
Loss on sale or impairment of long-lived assets, net | 0.2 | (0.2 | ) | — | 4.9 | (4.9 | ) | — | |||||||||
Other operating credits and charges, net | 3.8 | (3.8 | ) | — | (2.9 | ) | 2.9 | — | |||||||||
Total operating costs and expenses | 1,882.4 | 1,872.1 | 1,587.0 | 1,585.0 | |||||||||||||
Income from operations | 202.8 | 213.1 | 104.2 | 106.2 | |||||||||||||
Non-operating income (expense): | |||||||||||||||||
Interest expense, net of capitalized interest | (36.0 | ) | — | (36.0 | ) | (49.3 | ) | (49.3 | ) | ||||||||
Investment income | 10.3 | 10.3 | 14.8 | 2.0 | 16.8 | ||||||||||||
Early debt extinguishment | (2.3 | ) | 2.3 | — | (52.2 | ) | 52.2 | — | |||||||||
Other non-operating items | 31.8 | (35.8 | ) | (4.0 | ) | 17.3 | (20.0 | ) | (2.7 | ) | |||||||
Total non-operating income (expense) | 3.8 | (29.7 | ) | (69.4 | ) | (35.2 | ) | ||||||||||
Income from continuing operations before taxes and equity in income of unconsolidated affiliates | 206.6 | 183.4 | 34.8 | 71.0 | |||||||||||||
Provision for income taxes | 41.1 | (41.1 | ) | — | 7.0 | (7.0 | ) | — | |||||||||
"Normalized" tax rate @ 35% | — | 68.7 | 68.7 | — | 25.4 | 25.4 | |||||||||||
Equity in income of unconsolidated affiliates | (11.9 | ) | (2.7 | ) | (14.6 | ) | (1.7 | ) | (1.7 | ) | |||||||
Income from continuing operations | 177.4 | 129.3 | 29.5 | 47.3 | |||||||||||||
Loss from discontinued operations before taxes | (0.4 | ) | (0.4 | ) | (1.1 | ) | (1.1 | ) | |||||||||
Benefit for income taxes | (0.1 | ) | (0.1 | ) | (0.4 | ) | (0.4 | ) | |||||||||
Loss from discontinued operations | (0.3 | ) | (0.3 | ) | (0.7 | ) | (0.7 | ) | |||||||||
Net income | $ | 177.1 | $ | 129.0 | $ | 28.8 | $ | 46.6 | |||||||||
Income (loss) per share of common stock (basic): | |||||||||||||||||
Income from continuing operations | $ | 1.27 | $ | 0.93 | $ | 0.22 | $ | 0.35 | |||||||||
Loss from discontinued operations | — | (0.01 | ) | (0.01 | ) | (0.01 | ) | ||||||||||
Net income per share | $ | 1.27 | $ | 0.92 | $ | 0.21 | $ | 0.34 | |||||||||
Income (loss) per share of common stock (diluted): | |||||||||||||||||
Income from continuing operations | $ | 1.23 | $ | 0.90 | $ | 0.20 | $ | 0.33 | |||||||||
Loss from discontinued operations | — | (0.01 | ) | — | — | ||||||||||||
Net income per share | $ | 1.23 | $ | 0.89 | $ | 0.20 | $ | 0.33 | |||||||||
Average shares of stock outstanding - basic | 139.6 | 139.6 | 137.1 | 137.1 | |||||||||||||
Average shares of stock outstanding - diluted | 144.3 | 144.3 | 142.6 | 142.6 | |||||||||||||