Exhibit 99.2
JARDEN CORPORATION
Reconciliation of GAAP to NON GAAP
For the nine months ended September 30, 2010 and 2009
Three months ended | Nine months ended | |||||||||||||||
(in millions) | September 30, 2010 | September 30, 2009 | September 30, 2010 | September 30, 2009 | ||||||||||||
Reconciliation of Non-GAAP measure: | ||||||||||||||||
Net income | 80.6 | 73.7 | $ | 60.0 | $ | 127.5 | ||||||||||
Income tax provision | 49.3 | 45.9 | 76.5 | 78.5 | ||||||||||||
Interest expense, net | 46.2 | 35.2 | 130.3 | 110.2 | ||||||||||||
Depreciation and amortization | 36.5 | 32.7 | 103.0 | 94.4 | ||||||||||||
Earnings before interest, taxes, depreciation and amortization (EBITDA) | 212.6 | 187.5 | 369.8 | 410.6 | ||||||||||||
Other adjustments: | ||||||||||||||||
Reorganization and acquisition-related integration costs, net | — | 4.3 | — | 19.3 | ||||||||||||
Transaction costs | — | — | 14.5 | — | ||||||||||||
Venezuela hyperinflationary and devaluation charges | — | — | 78.1 | — | ||||||||||||
Impairment of goodwill and other intangible assets | 0.7 | — | 19.0 | — | ||||||||||||
Fair value adjustment to inventory | — | — | 25.3 | — | ||||||||||||
As Adjusted EBITDA | $ | 213.3 | $ | 191.8 | $ | 506.7 | $ | 429.9 | ||||||||
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 September 30, 2010:
Outdoor Solutions | Consumer Solutions | Branded Consumables | Process Solutions | Elimination | Consolidated | |||||||||||||||||||
Reconciliation of Non-GAAP measure: | ||||||||||||||||||||||||
Net sales growth | 6.9 | % | 4.6 | % | 75.0 | % | 37.3 | % | 31.7 | % | 18.5 | % | ||||||||||||
Foreign exchange impacts | 1.1 | % | 3.4 | % | (0.2 | %) | 0.7 | % | — | % | 1.7 | % | ||||||||||||
Less: Mapa Spontex acquisition | — | % | — | % | (77.7 | %) | — | % | — | % | (12.9 | %) | ||||||||||||
Organic net sales growth | 8.0 | % | 8.0 | % | (2.9 | %) | 38.0 | % | 31.7 | % | 7.3 | % | ||||||||||||