Exhibit 99.2 Reconciliation of EBITDA from continuing operations and Adjusted EBITDA from continuing operations for the quarter and six months ended June 30, 2018 and 2017.
Quarter Ended June 30, 2018 (Dollar amounts in millions) | Siding | OSB | EWP | South America | Other | Corporate | Total | ||||||||||||||||||||
Income from continuing operations | $ | 62.7 | $ | 157.4 | $ | 8.6 | $ | 9.6 | $ | (0.8 | ) | $ | (74.6 | ) | $ | 162.9 | |||||||||||
Provision for income taxes | — | — | — | — | — | 51.2 | 51.2 | ||||||||||||||||||||
Interest expense, net of capitalized interest | — | — | — | — | — | 4.4 | 4.4 | ||||||||||||||||||||
Depreciation and amortization | 8.4 | 13.6 | 4.3 | 2.3 | 0.7 | 0.8 | 30.1 | ||||||||||||||||||||
EBITDA from continuing operations | 71.1 | 171.0 | 12.9 | 11.9 | (0.1 | ) | (18.2 | ) | 248.6 | ||||||||||||||||||
Stock-based compensation expense | 0.3 | 0.1 | 0.1 | — | — | 1.5 | 2.0 | ||||||||||||||||||||
Investment income | — | — | — | — | — | (4.8 | ) | (4.8 | ) | ||||||||||||||||||
Other operating credits and charges, net | — | — | — | — | — | (4.5 | ) | (4.5 | ) | ||||||||||||||||||
Other non-operating items | — | — | — | — | — | 0.7 | 0.7 | ||||||||||||||||||||
Adjusted EBITDA from continuing operations | $ | 71.4 | $ | 171.1 | $ | 13.0 | $ | 11.9 | $ | (0.1 | ) | $ | (25.3 | ) | $ | 242.0 | |||||||||||
Adjusted EBITDA Margin | 27.3 | % | 44.2 | % | 11.9 | % | 26.3 | % | (1.4 | )% | NA | 29.8 | % |
Quarter Ended June 30, 2017 (Dollar amounts in millions) | Siding | OSB | EWP | South America | Other | Corporate | Total | ||||||||||||||||||||
Income from continuing operations | $ | 49.0 | $ | 103.0 | $ | 5.3 | $ | 5.5 | $ | (0.9 | ) | $ | (67.4 | ) | $ | 94.5 | |||||||||||
Provision for income taxes | — | — | — | — | — | 36.0 | 36.0 | ||||||||||||||||||||
Interest expense, net of capitalized interest | — | — | — | — | — | 4.9 | 4.9 | ||||||||||||||||||||
Depreciation and amortization | 7.5 | 14.9 | 3.7 | 2.2 | 0.5 | 0.8 | 29.6 | ||||||||||||||||||||
EBITDA from continuing operations | 56.5 | 117.9 | 9.0 | 7.7 | (0.4 | ) | (25.7 | ) | 165.0 | ||||||||||||||||||
Stock-based compensation expense | 0.2 | 0.2 | 0.1 | — | — | 1.4 | 1.9 | ||||||||||||||||||||
Gain on sale or impairment of long-lived assets, net | — | — | — | — | — | (3.1 | ) | (3.1 | ) | ||||||||||||||||||
Investment income | — | — | — | — | — | (2.3 | ) | (2.3 | ) | ||||||||||||||||||
Other operating credits and charges, net | — | — | — | — | — | 2.0 | 2.0 | ||||||||||||||||||||
Other non-operating items | — | — | — | — | — | 3.1 | 3.1 | ||||||||||||||||||||
Adjusted EBITDA from continuing operations | $ | 56.7 | $ | 118.1 | $ | 9.1 | $ | 7.7 | $ | (0.4 | ) | $ | (24.6 | ) | $ | 166.6 | |||||||||||
Adjusted EBITDA Margin | 24.5 | % | 36.3 | % | 9.7 | % | 19.9 | % | (5.6 | )% | NA | 24.0 | % |
Six Months Ended June 30, 2018 (Dollar amounts in millions) | Siding | OSB | EWP | South America | Other | Corporate | Total | ||||||||||||||||||||
Income from continuing operations | $ | 108.0 | $ | 254.8 | $ | 11.4 | $ | 18.5 | $ | (1.7 | ) | $ | (133.2 | ) | $ | 257.8 | |||||||||||
Provision for income taxes | — | — | — | — | — | 80.9 | 80.9 | ||||||||||||||||||||
Interest expense, net of capitalized interest | — | — | — | — | — | 8.8 | 8.8 | ||||||||||||||||||||
Depreciation and amortization | 16.6 | 28.4 | 8.7 | 4.6 | 1.2 | 1.6 | 61.1 | ||||||||||||||||||||
EBITDA from continuing operations | 124.6 | 283.2 | 20.1 | 23.1 | (0.5 | ) | (41.9 | ) | 408.6 | ||||||||||||||||||
Stock-based compensation expense | 0.5 | 0.4 | 0.2 | — | — | 3.1 | 4.2 | ||||||||||||||||||||
Gain on sale or impairment of long-lived assets, net | — | — | — | — | — | (0.6 | ) | (0.6 | ) | ||||||||||||||||||
Investment income | — | — | — | — | — | (8.0 | ) | (8.0 | ) | ||||||||||||||||||
Other operating credits and charges, net | — | — | — | — | — | (4.9 | ) | (4.9 | ) | ||||||||||||||||||
Other non-operating items | — | — | — | — | — | 2.1 | 2.1 | ||||||||||||||||||||
Adjusted EBITDA from continuing operations | $ | 125.1 | $ | 283.6 | $ | 20.3 | $ | 23.1 | $ | (0.5 | ) | $ | (50.2 | ) | $ | 401.4 | |||||||||||
Adjusted EBITDA Margin | 25.6 | % | 40.5 | % | 9.7 | % | 26.3 | % | (3.3 | )% | NA | 26.7 | % |
Six Months Ended June 30, 2017 (Dollar amounts in millions) | Siding | OSB | EWP | South America | Other | Corporate | Total | ||||||||||||||||||||
Income from continuing operations | $ | 89.7 | $ | 163.8 | $ | 6.1 | $ | 10.6 | $ | (1.1 | ) | $ | (119.6 | ) | $ | 149.5 | |||||||||||
Provision for income taxes | — | — | — | — | — | 51.5 | 51.5 | ||||||||||||||||||||
Interest expense, net of capitalized interest | — | — | — | — | — | 9.9 | 9.9 | ||||||||||||||||||||
Depreciation and amortization | 15.6 | 29.6 | 7.6 | 4.4 | 1.4 | 1.6 | 60.2 | ||||||||||||||||||||
EBITDA from continuing operations | 105.3 | 193.4 | 13.7 | 15.0 | 0.3 | (56.6 | ) | 271.1 | |||||||||||||||||||
Stock-based compensation expense | 0.4 | 0.4 | 0.1 | — | — | 5.1 | 6.0 | ||||||||||||||||||||
Gain on sale or impairment of long-lived assets, net | — | — | — | — | — | (2.5 | ) | (2.5 | ) | ||||||||||||||||||
Investment income | — | — | — | — | — | (4.3 | ) | (4.3 | ) | ||||||||||||||||||
Other operating credits and charges, net | — | — | — | — | — | 5.4 | 5.4 | ||||||||||||||||||||
Other non-operating items | — | — | — | — | — | 5.0 | 5.0 | ||||||||||||||||||||
Adjusted EBITDA from continuing operations | $ | 105.7 | $ | 193.8 | $ | 13.8 | $ | 15.0 | $ | 0.3 | $ | (47.9 | ) | $ | 280.7 | ||||||||||||
Adjusted EBITDA Margin | 23.8 | % | 32.7 | % | 7.8 | % | 19.6 | % | 1.9 | % | NA | 21.5 | % |