Exhibit 99.3 Reconciliation of Adjusted income from continuing operations
As reported Quarter Ended December 31, 2015 | As Adjusted Quarter Ended December 31, 2015 | As reported Quarter Ended September 30, 2015 | As adjusted Quarter Ended September 30, 2015 | As reported Quarter Ended December 31, 2014 | As adjusted Quarter Ended December 31, 2014 | |||||||||||||||||||||
Adjustments | Adjustments | Adjustments | ||||||||||||||||||||||||
Net sales | $ | 462.9 | $ | 462.9 | $ | 464.9 | $ | 464.9 | $ | 453.5 | $ | 453.5 | ||||||||||||||
Operating costs and expenses: | ||||||||||||||||||||||||||
Cost of sales | 395.3 | 395.3 | 416.2 | 416.2 | 430.9 | 430.9 | ||||||||||||||||||||
Depreciation and amortization | 24.0 | 24.0 | 25.9 | 25.9 | 23.3 | 23.3 | ||||||||||||||||||||
Selling and administrative | 37.9 | 37.9 | 38.3 | 38.3 | 40.8 | — | 40.8 | |||||||||||||||||||
Loss on sale or impairment of long lived assets | 3.7 | (3.7 | ) | — | 0.9 | (0.9 | ) | — | 1.0 | (1.0 | ) | — | ||||||||||||||
Other operating credits and charges, net | 0.6 | (0.6 | ) | — | 1.0 | (1.0 | ) | — | 6.4 | (6.4 | ) | — | ||||||||||||||
Total operating costs and expenses | 461.5 | 457.2 | 482.3 | 480.4 | 502.4 | 495.0 | ||||||||||||||||||||
Income (loss) from operations | 1.4 | 5.7 | (17.4 | ) | (15.5 | ) | (48.9 | ) | (41.5 | ) | ||||||||||||||||
Non-operating income (expense): | ||||||||||||||||||||||||||
Interest expense, net of capitalized interest | (8.1 | ) | — | (8.1 | ) | (8.4 | ) | (8.4 | ) | (6.4 | ) | (1.5 | ) | (7.9 | ) | |||||||||||
Investment income | 1.5 | 1.5 | 0.5 | 0.5 | 1.1 | 1.1 | ||||||||||||||||||||
Other non-operating items | 0.2 | 0.2 | (3.7 | ) | (3.7 | ) | (1.3 | ) | (1.3 | ) | ||||||||||||||||
Total non-operating expense | (6.4 | ) | (6.4 | ) | (11.6 | ) | (11.6 | ) | (6.6 | ) | (8.1 | ) | ||||||||||||||
Loss from continuing operations before taxes and equity in income of unconsolidated affiliates | (5.0 | ) | (0.7 | ) | (29.0 | ) | (27.1 | ) | (55.5 | ) | (49.6 | ) | ||||||||||||||
Provision (benefit) for income taxes | 5.0 | (5.0 | ) | — | (2.4 | ) | 2.4 | — | (11.3 | ) | 11.3 | — | ||||||||||||||
"Normalized" tax rate @ 35% | — | 0.4 | 0.4 | — | (8.9 | ) | (8.9 | ) | (17.3 | ) | (17.3 | ) | ||||||||||||||
Equity in income of unconsolidated affiliates | (2.6 | ) | 0.7 | (1.9 | ) | (2.0 | ) | (2.0 | ) | (1.2 | ) | 1.0 | (0.2 | ) | ||||||||||||
Income (loss) from continuing operations | (7.4 | ) | 0.8 | (24.6 | ) | (16.2 | ) | (43.0 | ) | (32.1 | ) | |||||||||||||||
Income (loss) from discontinued operations before tax | (0.3 | ) | (0.3 | ) | (2.9 | ) | (2.9 | ) | 0.2 | 0.2 | ||||||||||||||||
Provision (benefit) for income taxes | (0.1 | ) | (0.1 | ) | (1.0 | ) | (1.0 | ) | 0.1 | 0.1 | ||||||||||||||||
Income (loss) from discontinued operations | (0.2 | ) | (0.2 | ) | (1.9 | ) | (1.9 | ) | 0.1 | 0.1 | ||||||||||||||||
Net income (loss) | $ | (7.6 | ) | $ | 0.6 | $ | (26.5 | ) | $ | (18.1 | ) | $ | (42.9 | ) | $ | (32.0 | ) | |||||||||
Income (loss) per share of common stock (basic and diluted): | ||||||||||||||||||||||||||
Income (loss) per share from continuing operations | $ | (0.05 | ) | $ | 0.01 | $ | (0.17 | ) | $ | (0.12 | ) | $ | (0.30 | ) | $ | (0.23 | ) | |||||||||
Loss per share from discontinued operations | — | — | (0.02 | ) | (0.02 | ) | — | — | ||||||||||||||||||
Net income (loss) per share | $ | (0.05 | ) | $ | 0.01 | $ | (0.19 | ) | $ | (0.14 | ) | $ | (0.30 | ) | $ | (0.23 | ) | |||||||||
Average shares of stock outstanding - basic and diluted | 142.7 | 142.7 | 142.6 | 142.6 | 141.7 | 141.7 |
As Reported Year Ended December 31, 2015 | As Adjusted Year Ended December 31, 2015 | As Reported Year Ended December 31, 2014 | As Adjusted Year Ended December 31, 2014 | ||||||||||||||
Adjustments | Adjustments | ||||||||||||||||
Net sales | $ | 1,892.5 | $ | 1,892.5 | $ | 1,934.8 | $ | 1,934.8 | |||||||||
Operating costs and expenses: | |||||||||||||||||
Cost of sales | 1,682.7 | 1,682.7 | 1,757.8 | 1,757.8 | |||||||||||||
Depreciation and amortization | 101.9 | 101.9 | 100.7 | 100.7 | |||||||||||||
Selling and administrative | 152.8 | 152.8 | 149.5 | (4.7 | ) | 144.8 | |||||||||||
Loss on sale or impairment of long-lived assets, net | 2.1 | (2.1 | ) | — | (3.1 | ) | 3.1 | — | |||||||||
Other operating credits and charges, net | 16.3 | (16.3 | ) | — | 7.5 | (7.5 | ) | — | |||||||||
Total operating costs and expenses | 1,955.8 | 1,937.4 | 2,012.4 | 2,003.3 | |||||||||||||
Income from operations | (63.3 | ) | (44.9 | ) | (77.6 | ) | (68.5 | ) | |||||||||
Non-operating income (expense): | |||||||||||||||||
Interest expense, net of capitalized interest | (31.2 | ) | (31.2 | ) | (29.8 | ) | (1.5 | ) | (31.3 | ) | |||||||
Investment income | 4.4 | 4.4 | 5.5 | 5.5 | |||||||||||||
Other non-operating items | (5.3 | ) | (5.3 | ) | (3.1 | ) | 2.1 | (1.0 | ) | ||||||||
Total non-operating income (expense) | (32.1 | ) | (32.1 | ) | (27.4 | ) | (26.8 | ) | |||||||||
Income from continuing operations before taxes and equity in income of unconsolidated affiliates | (95.4 | ) | (77.0 | ) | (105.0 | ) | (95.3 | ) | |||||||||
Provision for income taxes | (2.7 | ) | 2.7 | — | (27.2 | ) | 27.2 | — | |||||||||
"Normalized" tax rate @ 35% | — | (24.9 | ) | (24.9 | ) | — | (32.2 | ) | (32.2 | ) | |||||||
Equity in income of unconsolidated affiliates | (6.7 | ) | 0.7 | (6.0 | ) | (4.4 | ) | 1.0 | (3.4 | ) | |||||||
Income from continuing operations | (86.0 | ) | (46.1 | ) | (73.4 | ) | (59.7 | ) | |||||||||
Loss from discontinued operations before taxes | (3.2 | ) | (3.2 | ) | (3.0 | ) | (3.0 | ) | |||||||||
Benefit for income taxes | (1.1 | ) | (1.1 | ) | (1.0 | ) | (1.0 | ) | |||||||||
Loss from discontinued operations | (2.1 | ) | (2.1 | ) | (2.0 | ) | (2.0 | ) | |||||||||
Net income | $ | (88.1 | ) | $ | (48.2 | ) | $ | (75.4 | ) | $ | (61.7 | ) | |||||
Income (loss) per share of common stock (basic and diluted): | |||||||||||||||||
Income from continuing operations | $ | (0.60 | ) | $ | (0.32 | ) | $ | (0.52 | ) | $ | (0.42 | ) | |||||
Loss from discontinued operations | (0.02 | ) | (0.02 | ) | (0.01 | ) | (0.01 | ) | |||||||||
Net income per share | $ | (0.62 | ) | $ | (0.34 | ) | $ | (0.53 | ) | $ | (0.43 | ) | |||||
Average shares of stock outstanding - basic and diluted | 142.4 | 142.4 | 141.1 | 141.1 | |||||||||||||