Exhibit 99.2
JARDEN CORPORATION Reconciliation of GAAP to NON GAAP
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Three months ended | Six months ended | |||||||||||||
(in millions) | June 30, 2010 | June 30, 2009 | June 30, 2010 | June 30, 2009 | ||||||||||
Reconciliation of Non-GAAP measure: | ||||||||||||||
Net income (loss) | 38.4 | 44.9 | $ | (20.6 | ) | $ | 53.8 | |||||||
Income tax provision | 37.1 | 26.0 | 27.2 | 32.6 | ||||||||||
Interest expense, net | 43.9 | 38.8 | 84.1 | 75.0 | ||||||||||
Depreciation and amortization | 35.6 | 31.3 | 66.5 | 61.7 | ||||||||||
Earnings before interest, taxes, depreciation and amortization (EBITDA) | 155.0 | 141.0 | 157.2 | 223.1 | ||||||||||
Other adjustments: | ||||||||||||||
Reorganization, acquisition-related integration costs, net | — | 5.6 | — | 15.0 | ||||||||||
Transactions related items | (6.6 | ) | — | 14.5 | — | |||||||||
Venezuela hyperinflationary and devaluation charge | — | — | 78.1 | — | ||||||||||
Impairment of goodwill and other intangibles | 18.3 | — | 18.3 | — | ||||||||||
Fair value adjustment to inventory | 25.3 | — | 25.3 | — | ||||||||||
As Adjusted EBITDA | $ | 192.0 | $ | 146.6 | $ | 293.4 | $ | 238.1 | ||||||
Organic net sales growth is a non-GAAP measure of net sales growth excluding the impacts of foreign exchange and the Mapa Spontex acquisition from year over year comparisons. The Company believes this measure provides investors with a more complete understanding of the underlying sales trends by providing net sales on a consistent basis. Organic net sales growth is also one of the measures used by management to analyze operating performance. The following table provides a reconciliation of organic net sales growth for the three months ended June 30, 2010:
Outdoor Solutions | Consumer Solutions | Branded Consumables | Process Solutions | Elimination | Consolidated | |||||||||||||
Reconciliation of Non-GAAP measure: | ||||||||||||||||||
Net sales growth | 9.1 | % | 2.4 | % | 89.5 | % | 43.7 | % | 10.0 | % | 21.9 | % | ||||||
Foreign exchange impacts | (0.6 | )% | 3.3 | % | (0.9 | )% | 0.3 | % | 0.0 | % | 0.6 | % | ||||||
Less: Mapa Spontex acquisition | 0.0 | % | 0.0 | % | (86.2 | )% | 0.0 | % | 0.0 | % | (13.8 | )% | ||||||
Organic net sales growth | 8.5 | % | 5.7 | % | 2.4 | % | 44.0 | % | 10.0 | % | 8.7 | % | ||||||