Exhibit 99.3 Reconciliation of Adjusted income from continuing operations
As reported Quarter Ended June 30, 2015 | Adjustments | As adjusted Quarter Ended June 30, 2015 | As reported Quarter Ended March 31, 2015 | Adjustments | As adjusted Quarter Ended March 31, 2015 | As reported Quarter Ended June 30, 2014 | Adjustments | As adjusted Quarter Ended June 30, 2014 | |||||||||||||||||||
Net sales | $ | 493.0 | $ | 493.0 | $ | 471.7 | $ | 471.7 | $ | 518.5 | $ | 518.5 | |||||||||||||||
Operating costs and expenses: | |||||||||||||||||||||||||||
Cost of sales | $ | 443.4 | 443.4 | 427.8 | 427.8 | $ | 461.5 | 461.5 | |||||||||||||||||||
Depreciation and amortization | $ | 25.3 | 25.3 | 26.7 | 26.7 | $ | 24.9 | 24.9 | |||||||||||||||||||
Selling and administrative | $ | 37.9 | 37.9 | 38.7 | 38.7 | $ | 35.9 | (1.4 | ) | 34.5 | |||||||||||||||||
(Gain) loss on sale or impairment of long-lived assets, net | $ | 0.5 | (0.5 | ) | — | 0.1 | (0.1 | ) | — | $ | (0.5 | ) | 0.5 | — | |||||||||||||
Other operating credits and charges, net | $ | — | — | — | 11.6 | (11.6 | ) | — | $ | 0.6 | (0.6 | ) | — | ||||||||||||||
Total operating costs and expenses | 507.1 | 506.6 | 504.9 | 493.2 | 522.4 | 520.9 | |||||||||||||||||||||
Income (loss) from operations | (14.1 | ) | (13.6 | ) | (33.2 | ) | (21.5 | ) | (3.9 | ) | (2.4 | ) | |||||||||||||||
Non-operating income (expense): | |||||||||||||||||||||||||||
Interest expense, net of capitalized interest | $ | (7.2 | ) | (7.2 | ) | (7.5 | ) | (7.5 | ) | $ | (7.4 | ) | (7.4 | ) | |||||||||||||
Investment income | $ | 1.0 | 1.0 | 1.4 | 1.4 | $ | 1.7 | 1.7 | |||||||||||||||||||
Other non-operating items | $ | 0.4 | 0.4 | $ | (2.2 | ) | (2.2 | ) | $ | 3.8 | (3.7 | ) | 0.1 | ||||||||||||||
Total non-operating income (expense) | (5.8 | ) | (5.8 | ) | (8.3 | ) | (8.3 | ) | (1.9 | ) | (5.6 | ) | |||||||||||||||
Income (loss) before taxes and equity in income of unconsolidated affiliates | (19.9 | ) | (19.4 | ) | (41.5 | ) | (29.8 | ) | (5.8 | ) | (8.0 | ) | |||||||||||||||
Provision (benefit) for income taxes | $ | 1.0 | (1.0 | ) | — | (6.3 | ) | 6.3 | — | $ | (6.7 | ) | 6.7 | — | |||||||||||||
"Normalized" tax rate @ 35% | — | (6.3 | ) | (6.3 | ) | — | (10.2 | ) | (10.2 | ) | — | (2.4 | ) | (2.4 | ) | ||||||||||||
Equity in income of unconsolidated affiliates | $ | (1.4 | ) | (1.4 | ) | (0.7 | ) | (0.7 | ) | $ | (1.2 | ) | (1.2 | ) | |||||||||||||
Net income (loss) | $ | (19.5 | ) | $ | (11.7 | ) | $ | (34.5 | ) | $ | (18.9 | ) | $ | 2.1 | $ | (4.4 | ) | ||||||||||
Income (loss) per share of common stock (basic and diluted): | |||||||||||||||||||||||||||
Net income (loss) per share | $ | (0.14 | ) | $ | (0.08 | ) | $ | (0.24 | ) | $ | (0.13 | ) | $ | 0.01 | $ | (0.03 | ) | ||||||||||
Average shares of stock outstanding - basic | 142.3 | 142.3 | 142.0 | 142.0 | 140.8 | 140.8 | |||||||||||||||||||||
Average shares of stock outstanding - diluted | 142.3 | 142.3 | 142.0 | 142.0 | 144.0 | 144.0 |
As reported Six Months Ended June 30, 2015 | Adjustments | As adjusted Six Months Ended June 30, 2015 | As reported Six Months Ended June 30, 2014 | Adjustments | As adjusted Six Months Ended June 30, 2014 | |||||||||||||
Net sales | $ | 964.7 | $ | 964.7 | $ | 963.2 | $ | 963.2 | ||||||||||
Operating costs and expenses: | — | — | ||||||||||||||||
Cost of sales | 871.2 | 871.2 | 849.9 | 849.9 | ||||||||||||||
Depreciation and amortization | 52.0 | 52.0 | 50.5 | 50.5 | ||||||||||||||
Selling and administrative | 76.6 | 76.6 | 76.8 | (4.7 | ) | 72.1 | ||||||||||||
Gain on sale or impairment of long-lived assets, net | 0.6 | (0.6 | ) | — | (0.5 | ) | 0.5 | — | ||||||||||
Other operating credits and charges, net | 11.6 | (11.6 | ) | — | 0.6 | (0.6 | ) | — | ||||||||||
Total operating costs and expenses | 1,012.0 | 999.8 | 977.3 | 972.5 | ||||||||||||||
Income (loss) from operations | (47.3 | ) | (35.1 | ) | (14.1 | ) | (9.3 | ) | ||||||||||
Non-operating income (expense): | ||||||||||||||||||
Interest expense, net of capitalized interest | (14.7 | ) | (14.7 | ) | (15.1 | ) | (15.1 | ) | ||||||||||
Investment income | 2.4 | 2.4 | 3.5 | 3.5 | ||||||||||||||
Other non-operating items | (1.8 | ) | (1.8 | ) | (0.5 | ) | 2.1 | 1.6 | ||||||||||
Total non-operating income (expense) | (14.1 | ) | (14.1 | ) | (12.1 | ) | (10.0 | ) | ||||||||||
Income (loss) from continuing operations before taxes and equity in income of unconsolidated affiliates | (61.4 | ) | (49.2 | ) | (26.2 | ) | (19.3 | ) | ||||||||||
Provision (benefit) for income taxes | (5.3 | ) | 5.3 | — | (12.3 | ) | 12.3 | — | ||||||||||
"Normalized" tax rate @ 35% | — | (16.5 | ) | (16.5 | ) | — | (6.1 | ) | (6.1 | ) | ||||||||
Equity in income of unconsolidated affiliates | (2.1 | ) | (2.1 | ) | (1.8 | ) | (1.8 | ) | ||||||||||
Income (loss) from continuing operations | (54.0 | ) | (30.6 | ) | (12.1 | ) | (11.4 | ) | ||||||||||
Net income (loss) | $ | (54.0 | ) | $ | (30.6 | ) | $ | (12.1 | ) | $ | (11.4 | ) | ||||||
Net income (loss) per share - basic | $ | (0.38 | ) | $ | (0.22 | ) | $ | (0.09 | ) | $ | (0.08 | ) | ||||||
Net income (loss) per share - diluted | $ | (0.38 | ) | $ | (0.22 | ) | $ | (0.09 | ) | $ | (0.08 | ) | ||||||
Average shares of stock outstanding - basic | 142.1 | 142.1 | 140.8 | 140.8 | ||||||||||||||
Average shares of stock outstanding - diluted | 142.1 | 142.1 | 140.8 | 140.8 |