Exhibit 99.2
JARDEN CORPORATION
Reconciliation of GAAP to NON GAAP
For the three and nine months ended September 30, 2011 and 2010
| | | | | | | | | | | | | | | | |
| | Three months ended | | | Nine months ended | |
(in millions) | | September 30, 2011 | | | September 30, 2010 | | | September 30, 2011 | | | September 30, 2010 | |
Reconciliation of Non-GAAP measure: | | | | | | | | | | | | | | | | |
Net income | | $ | 90.7 | | | $ | 80.6 | | | $ | 183.6 | | | $ | 60.0 | |
Income tax provision | | | 50.4 | | | | 49.3 | | | | 107.2 | | | | 76.5 | |
Interest expense, net | | | 43.7 | | | | 46.2 | | | | 134.8 | | | | 130.3 | |
Loss on early extinguishment of debt | | | — | | | | — | | | | 12.8 | | | | — | |
Depreciation and amortization | | | 40.3 | | | | 36.5 | | | | 121.7 | | | | 103.0 | |
| | | | | | | | | | | | | | | | |
Earnings before interest, taxes, depreciation and amortization (EBITDA) | | | 225.1 | | | | 212.6 | | | | 560.1 | | | | 369.8 | |
| | | | | | | | | | | | | | | | |
Other adjustments: | | | | | | | | | | | | | | | | |
Fair market value adjustment to inventory | | | 1.6 | | | | — | | | | 6.9 | | | | 25.3 | |
Acquisition-related and other costs | | | 6.4 | | | | — | | | | 6.4 | | | | 14.5 | |
Reorganization costs | | | 6.2 | | | | — | | | | 6.2 | | | | — | |
Impairment of goodwill and other intangibles | | | — | | | | 0.7 | | | | — | | | | 19.0 | |
Venezuela hyperinflationary and devaluation charges | | | — | | | | — | | | | — | | | | 78.1 | |
| | | | | | | | | | | | | | | | |
AS ADJUSTED EBITDA (Segment Earnings) | | $ | 239.3 | | | $ | 213.3 | | | $ | 579.6 | | | $ | 506.7 | |
| | | | | | | | | | | | | | | | |
Organic net sales growth is a non-GAAP measure of net sales growth excluding the impacts of foreign exchange, significant acquisitions and exited business 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 and nine months ended September 30, 2011:
| | | | | | | | | | | | | | | | | | | | | | | | |
| | For the three months ending September 30, 2011 | |
| | Outdoor Solutions | | | Consumer Solutions | | | Branded Consumables | | | Process Solutions | | | Elimination | | | Consolidated | |
Reconciliation of Non-GAAP measure: | | | | | | | | | | | | | | | | | | | | | | | | |
Net sales growth | | | 17.0 | % | | | (2.2 | %) | | | 21.6 | % | | | 10.7 | % | | | 14.3 | % | | | 11.4 | % |
Foreign exchange impacts | | | (4.1 | %) | | | (0.8 | %) | | | (4.0 | %) | | | (0.4 | %) | | | — | % | | | (2.8 | %) |
(Acquisitions)/Exited business, net | | | (3.3 | %) | | | 1.5 | % | | | (10.5 | %) | | | — | % | | | — | % | | | (3.3 | %) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Organic net sales growth | | | 9.6 | % | | | (1.5 | %) | | | 7.1 | % | | | 10.3 | % | | | 14.3 | % | | | 5.3 | % |
| | | | | | | | | | | | | | | | | | | | | | | | |
| |
| | For the nine months ending September 30, 2011 | |
| | Outdoor Solutions | | | Consumer Solutions | | | Branded Consumables | | | Process Solutions | | | Elimination | | | Consolidated | |
Reconciliation of Non-GAAP measure: | | | | | | | | | | | | | | | | | | | | | | | | |
Net sales growth | | | 12.6 | % | | | 0.4 | % | | | 37.0 | % | | | 3.2 | % | | | 12.0 | % | | | 13.9 | % |
Foreign exchange impacts | | | (3.2 | %) | | | (1.0 | %) | | | (3.7 | %) | | | (0.4 | %) | | | — | % | | | (2.6 | %) |
(Acquisitions)/Exited business, net | | | (2.9 | %) | | | 0.7 | % | | | (32.1 | %) | | | — | % | | | — | % | | | (8.1 | %) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Organic net sales growth | | | 6.5 | % | | | 0.1 | % | | | 1.2 | % | | | 2.8 | % | | | 12.0 | % | | | 3.2 | % |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | |
| | Trailing Twelve Months Ended September 30, 2011 | |
Reconciliation of Non-GAAP measure: | | | | |
Net sales growth | | | 15.6 | % |
Foreign exchange impacts | | | (1.5 | %) |
(Acquisitions)/Exited business, net | | | (9.6 | %) |
| | | | |
Organic net sales growth | | | 4.5 | % |
| | | | |