Exhibit 99.2
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Reconciliation of GAAP to NON GAAP For the Quarters ended March 31, 2011 and 2010 |
Quarters ended | ||||||||
(in millions) | March 31, 2011 | March 31, 2010 | ||||||
Reconciliation of Non-GAAP measure: | ||||||||
Net income (loss) | $ | 19.0 | $ | (59.0 | ) | |||
Income tax provision (benefit) | 11.8 | (9.9 | ) | |||||
Interest expense, net | 45.1 | 40.2 | ||||||
Loss on early extinguishment of debt | 12.8 | — | ||||||
Depreciation and amortization | 40.1 | 30.9 | ||||||
Earnings before interest, taxes, depreciation and amortization (EBITDA) | 128.8 | 2.2 | ||||||
Other adjustments: | ||||||||
Manufacturers’ profit in inventory | 5.3 | — | ||||||
Transaction costs | — | 21.1 | ||||||
Venezuela hyperinflationary and devaluation charges | — | 78.1 | ||||||
As Adjusted EBITDA (Segment earnings) | $ | 134.1 | $ | 101.4 | ||||
Organic sales growth is a non-GAAP measure of net sales growth excluding the impacts of foreign exchange and significant acquisitions 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 sales growth is also one of the measures used by management to analyze operating performance. The following table provides a reconciliation of organic sales growth for the quarter ended March 31, 2011:
Outdoor Solutions | Consumer Solutions | Branded Consumables | Process Solutions | Elimination | Consolidated | |||||||||||||||||||
Reconciliation of Non-GAAP measure: | ||||||||||||||||||||||||
Net sales growth | 10.3 | % | 2.8 | % | 128.4 | % | 8.9 | % | 20.5 | % | 24.7 | % | ||||||||||||
Foreign exchange impacts | (1.3 | %) | (0.9 | %) | (0.4 | %) | (0.1 | %) | — | % | (1.0 | %) | ||||||||||||
Less: Acquisitions | (3.2 | %) | — | % | (132.3 | %) | — | % | — | % | (20.4 | %) | ||||||||||||
Organic sales growth | 5.8 | % | 1.9 | % | (4.3 | %) | 8.8 | % | 20.5 | % | 3.3 | % | ||||||||||||