Exhibit 99.3 Reconciliation of Adjusted income from continuing operations
As reported Quarter Ended September 30, 2014 | Adjustments | As adjusted Quarter Ended September 30, 2014 | As reported Quarter Ended June 30, 2014 | Adjustments | As adjusted Quarter Ended June 30, 2014 | As reported Quarter Ended September 30, 2013 | Adjustments | As adjusted Quarter Ended September 30, 2013 | |||||||||||||||||||
Net sales | $ | 518.1 | $ | 518.1 | $ | 518.5 | $ | 518.5 | $ | 507.4 | $ | 507.4 | |||||||||||||||
Operating costs and expenses: | |||||||||||||||||||||||||||
Cost of sales | 477.0 | 477.0 | 461.5 | 461.5 | 416.3 | 416.3 | |||||||||||||||||||||
Depreciation and amortization | 26.9 | 26.9 | 24.9 | 24.9 | 25.8 | 25.8 | |||||||||||||||||||||
Selling and administrative | 31.9 | 0.1 | 32.0 | 35.9 | (1.4 | ) | 34.5 | 33.5 | (3.0 | ) | 30.5 | ||||||||||||||||
(Gain) loss on sale or impairment of long-lived assets, net | (3.6 | ) | 3.6 | — | (0.5 | ) | 0.5 | — | 0.3 | (0.3 | ) | — | |||||||||||||||
Other operating credits and charges, net | 0.5 | (0.5 | ) | — | 0.6 | (0.6 | ) | — | (16.1 | ) | 16.1 | — | |||||||||||||||
Total operating costs and expenses | 532.7 | 535.9 | 522.4 | 520.9 | 459.8 | 472.6 | |||||||||||||||||||||
Income (loss) from operations | (14.6 | ) | (17.8 | ) | (3.9 | ) | (2.4 | ) | 47.6 | 34.8 | |||||||||||||||||
Non-operating income (expense): | |||||||||||||||||||||||||||
Interest expense, net of capitalized interest | (8.3 | ) | (8.3 | ) | (7.4 | ) | (7.4 | ) | (7.6 | ) | (7.6 | ) | |||||||||||||||
Investment income | 0.9 | 0.9 | 1.7 | 1.7 | 1.7 | 1.7 | |||||||||||||||||||||
Other non-operating items | (1.3 | ) | — | (1.3 | ) | 3.8 | (3.7 | ) | 0.1 | 0.2 | 0.8 | 1.0 | |||||||||||||||
Total non-operating income (expense) | (8.7 | ) | (8.7 | ) | (1.9 | ) | (5.6 | ) | (5.7 | ) | (4.9 | ) | |||||||||||||||
Income (loss) from continuing operations before taxes and equity in income of unconsolidated affiliates | (23.3 | ) | (26.5 | ) | (5.8 | ) | (8.0 | ) | 41.9 | 29.9 | |||||||||||||||||
Provision (benefit) for income taxes | (3.6 | ) | 3.6 | — | (6.7 | ) | 6.7 | — | 4.4 | (4.4 | ) | — | |||||||||||||||
"Normalized" tax rate @ 35% | — | (8.8 | ) | (8.8 | ) | — | (2.4 | ) | (2.4 | ) | — | 10.5 | 10.5 | ||||||||||||||
Equity in income of unconsolidated affiliates | (1.4 | ) | (1.4 | ) | (1.2 | ) | — | (1.2 | ) | — | — | — | |||||||||||||||
Income (loss) from continuing operations | (18.3 | ) | (16.3 | ) | 2.1 | (4.4 | ) | 37.5 | 19.4 | ||||||||||||||||||
Income (loss) from discontinued operations before taxes | (3.2 | ) | (3.2 | ) | — | — | 1.0 | 1.0 | |||||||||||||||||||
Provision (benefit) for income taxes | (1.1 | ) | (1.1 | ) | — | — | 0.4 | 0.4 | |||||||||||||||||||
Income (loss) from discontinued operations | (2.1 | ) | (2.1 | ) | — | — | 0.6 | 0.6 | |||||||||||||||||||
Net income (loss) | $ | (20.4 | ) | $ | (18.4 | ) | 2.1 | $ | (4.4 | ) | $ | 38.1 | $ | 20.0 | |||||||||||||
Income (loss) per share of common stock (basic): | |||||||||||||||||||||||||||
Income (loss) from continuing operations | $ | (0.13 | ) | $ | (0.12 | ) | $ | 0.01 | $ | (0.03 | ) | $ | 0.27 | $ | 0.14 | ||||||||||||
Income (loss) from discontinued operations | (0.01 | ) | (0.01 | ) | — | — | — | — | |||||||||||||||||||
Net income (loss) per share | $ | (0.14 | ) | $ | (0.13 | ) | $ | 0.01 | $ | (0.03 | ) | $ | 0.27 | $ | 0.14 | ||||||||||||
Income (loss) per share of common stock (diluted): | |||||||||||||||||||||||||||
Income (loss) from continuing operations | $ | (0.13 | ) | $ | (0.12 | ) | $ | 0.01 | $ | (0.03 | ) | $ | 0.26 | $ | 0.13 | ||||||||||||
Income (loss) from discontinued operations | (0.01 | ) | (0.01 | ) | — | — | — | 0.01 | |||||||||||||||||||
Net income (loss) per share | $ | (0.14 | ) | $ | (0.13 | ) | $ | 0.01 | $ | (0.03 | ) | $ | 0.26 | $ | 0.14 | ||||||||||||
Average shares of stock outstanding - basic | 140.8 | 140.8 | 140.8 | 140.8 | 140.0 | 140.0 | |||||||||||||||||||||
Average shares of stock outstanding - diluted | 140.8 | 140.8 | 144.0 | 140.8 | 144.0 | 144.0 |
As reported Nine Months Ended September 30, 2014 | Adjustments | As adjusted Nine Months Ended September 30, 2014 | As reported Nine Months Ended September 30, 2013 | Adjustments | As adjusted Nine Months Ended September 30, 2013 | ||||||||||||||
Net sales | $ | 1,481.3 | $ | 1,481.3 | $ | 1,605.5 | $ | 1,605.5 | |||||||||||
Operating costs and expenses: | — | ||||||||||||||||||
Cost of sales | 1,326.9 | 1,326.9 | 1,221.7 | 1,221.7 | |||||||||||||||
Depreciation and amortization | 77.4 | 77.4 | 65.0 | 65.0 | |||||||||||||||
Selling and administrative | 108.7 | (4.7 | ) | 104.0 | 103.6 | (3.0 | ) | 100.6 | |||||||||||
Gain on sale or impairment of long-lived assets, net | (4.1 | ) | 4.1 | — | (0.4 | ) | 0.4 | — | |||||||||||
Other operating credits and charges, net | 1.1 | (1.1 | ) | — | (9.1 | ) | 9.1 | — | |||||||||||
Total operating costs and expenses | 1,510.0 | 1,508.3 | 1,380.8 | 1,387.3 | |||||||||||||||
Income (loss) from operations | (28.7 | ) | (27.0 | ) | 224.7 | 218.2 | |||||||||||||
Non-operating income (expense): | |||||||||||||||||||
Interest expense, net of capitalized interest | (23.4 | ) | (23.4 | ) | (28.0 | ) | (28.0 | ) | |||||||||||
Investment income | 4.4 | 4.4 | 8.3 | 8.3 | |||||||||||||||
Other non-operating items | (1.8 | ) | 2.1 | 0.3 | 31.8 | (35.1 | ) | (3.3 | ) | ||||||||||
Total non-operating income (expense) | (20.8 | ) | (18.7 | ) | 12.1 | (23.0 | ) | ||||||||||||
Income (loss) from continuing operations before taxes and equity in income of unconsolidated affiliates | (49.5 | ) | (45.7 | ) | 236.8 | 195.2 | |||||||||||||
Provision (benefit) for income taxes | (15.9 | ) | 15.9 | — | 51.6 | (51.6 | ) | — | |||||||||||
"Normalized" tax rate @ 35% | — | (14.9 | ) | (14.9 | ) | — | 72.6 | 72.6 | |||||||||||
Equity in income of unconsolidated affiliates | (3.2 | ) | (3.2 | ) | (11.3 | ) | (2.7 | ) | (14.0 | ) | |||||||||
Income (loss) from continuing operations | (30.4 | ) | (27.6 | ) | 196.5 | 136.6 | |||||||||||||
Income (loss) from discontinued operations before taxes | (3.2 | ) | (3.2 | ) | 1.6 | 1.6 | |||||||||||||
Provision (benefit) for income taxes | (1.1 | ) | (1.1 | ) | 0.6 | 0.6 | |||||||||||||
Income (loss) from discontinued operations | (2.1 | ) | (2.1 | ) | 1.0 | 1.0 | |||||||||||||
Net income (loss) | $ | (32.5 | ) | $ | (29.7 | ) | 197.5 | $ | 137.6 | ||||||||||
Income (loss) per share of common stock (basic): | |||||||||||||||||||
Income (loss) from continuing operations | $ | (0.22 | ) | $ | (0.20 | ) | $ | 1.41 | $ | 0.98 | |||||||||
Income (loss) from discontinued operations | (0.01 | ) | (0.01 | ) | 0.01 | 0.01 | |||||||||||||
Net income (loss) per share | $ | (0.23 | ) | $ | (0.21 | ) | $ | 1.42 | $ | 0.99 | |||||||||
Income (loss) per share of common stock (diluted): | |||||||||||||||||||
Income (loss) from continuing operations | $ | (0.22 | ) | $ | (0.20 | ) | $ | 1.36 | $ | 0.94 | |||||||||
Income (loss) from discontinued operations | (0.01 | ) | (0.01 | ) | 0.01 | 0.01 | |||||||||||||
Net income (loss) per share | $ | (0.23 | ) | $ | (0.21 | ) | $ | 1.37 | $ | 0.95 | |||||||||
Average shares of stock outstanding - basic | 140.9 | 140.9 | 139.1 | 139.1 | |||||||||||||||
Average shares of stock outstanding - diluted | 140.9 | 140.9 | 144.1 | 144.1 |