Exhibit 99.2
JARDEN CORPORATION RECONCILIATION OF GAAP TO NON-GAAP (In millions) | ||
For the three months ended | For the six months ended | |||||||||||||||
June 30, 2012 | June 30, 2011 | June 30, 2012 | June 30, 2011 | |||||||||||||
Reconciliation of Non-GAAP measure: | ||||||||||||||||
Net income | $ | 83.2 | $ | 73.9 | $ | 118.3 | $ | 92.9 | ||||||||
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Income tax provision | 48.1 | 45.0 | 69.9 | 56.8 | ||||||||||||
Interest expense, net | 45.0 | 46.0 | 89.7 | 91.1 | ||||||||||||
Loss on early extinguishment of debt | — | — | — | 12.8 | ||||||||||||
Depreciation and amortization | 35.3 | 41.3 | 71.2 | 81.4 | ||||||||||||
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Earnings before interest, taxes, depreciation and amortization (EBITDA) | 211.6 | 206.2 | 349.1 | 335.0 | ||||||||||||
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Other adjustments: | ||||||||||||||||
Fair market value adjustment to inventory | — | — | — | 5.3 | ||||||||||||
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AS ADJUSTED EBITDA (SEGMENT EARNINGS) | $ | 211.6 | $ | 206.2 | $ | 349.1 | $ | 340.3 | ||||||||
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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 to the comparable GAAP measure of net sales growth for the three and six months
ended June 30, 2012:
For the three months ended June 30, 2012 | ||||||||||||||||||||||||
Outdoor Solutions | Consumer Solutions | Branded Consumables | Process Solutions | Eliminations | Consolidated | |||||||||||||||||||
Reconciliation of Non-GAAP measure: | ||||||||||||||||||||||||
Net sales growth | (3.3 | )% | 3.5 | % | 1.2 | % | 11.9 | % | 17.1 | % | 0.1 | % | ||||||||||||
Foreign exchange | 1.8 | % | 1.7 | % | 4.6 | % | 0.1 | % | — | 2.4 | % | |||||||||||||
(Acquisitions)/Exited business, net | 2.2 | % | 0.8 | % | — | — | — | 1.2 | % | |||||||||||||||
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Organic net sales growth | 0.7 | % | 6.0 | % | 5.8 | % | 12.0 | % | 17.1 | % | 3.7 | % | ||||||||||||
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For the six months ended June 30, 2012 | ||||||||||||||||||||||||
Outdoor Solutions | Consumer Solutions | Branded Consumables | Process Solutions | Eliminations | Consolidated | |||||||||||||||||||
Reconciliation of Non-GAAP measure: | ||||||||||||||||||||||||
Net sales growth | (2.3 | )% | 2.0 | % | 2.6 | % | 7.6 | % | 11.8 | % | 0.4 | % | ||||||||||||
Foreign exchange | 1.3 | % | 1.2 | % | 3.4 | % | 0.2 | % | — | 1.8 | % | |||||||||||||
(Acquisitions)/Exited business, net | 2.1 | % | 0.8 | % | — | — | — | 1.1 | % | |||||||||||||||
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Organic net sales growth | 1.1 | % | 4.0 | % | 6.0 | % | 7.8 | % | 11.8 | % | 3.3 | % | ||||||||||||
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