Exhibit 99.2
JARDEN CORPORATION
RECONCILIATION OF GAAP TO NON-GAAP
Supplemental Pro Forma Financial Information (unaudited)
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($ in millions) | | | | | | | | | | | | |
| | Jarden 12 Months Ended 6/30/2013 | | | Yankee Candle 52 Weeks Ended 6/29/2013 | | | Pro Forma 12 Months Ended 6/30/2013 | |
Net sales | | $ | 6,865 | | | $ | 863 | | | $ | 7,728 | |
Adjusted EBITDA (Segment Earnings) | | $ | 813 | | | $ | 205 | | | $ | 1,018 | |
Jarden Latest Twelve Months (“LTM”) Segment Earnings Reconciliation (unaudited)
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($ in millions) | | Year Ended | | | Six Months Ended | | | LTM Ended | |
| | 12/31/2012 | | | 6/30/2013 | | | 6/30/2012 | | | 6/30/2013 | |
Reconciliation of Non-GAAP measure: | | | | | | | | | | | | | | | | |
Net income | | $ | 244 | | | $ | 72 | | | $ | 118 | | | $ | 198 | |
Income tax provision | | | 148 | | | | 42 | | | | 70 | | | | 120 | |
Interest expense, net | | | 185 | | | | 96 | | | | 90 | | | | 191 | |
Loss on early extinguishment of debt | | | — | | | | 26 | | | | — | | | | 26 | |
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Operating Earnings | | $ | 577 | | | $ | 236 | | | $ | 278 | | | $ | 535 | |
Adjustments to reconcile to Segment Earnings | | | | | | | | | | | | | | | | |
Depreciation and amortization | | $ | 153 | | | $ | 76 | | | $ | 71 | | | $ | 158 | |
Fair market value adjustments to inventory | | | 6 | | | | 5 | | | | — | | | | 11 | |
Reorganization costs, net | | | 27 | | | | 2 | | | | — | | | | 29 | |
Acquisition-related and other costs, net | | | 17 | | | | — | | | | — | | | | 17 | |
Venezuela devaluation-related charges | | | — | | | | 29 | | | | — | | | | 29 | |
Cumulative adjustment of stock compensation | | | 34 | | | | — | | | | — | | | | 34 | |
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Segment Earnings | | $ | 814 | | | $ | 348 | | | $ | 349 | | | $ | 813 | |
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Yankee Candle Segment Earnings Reconciliation (unaudited)
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($ in millions) | | 52 Weeks Ended 12/29/2012 | | | 26 Weeks Ended | | | 52 Weeks Ended 6/29/2013 | |
| | | 6/29/2013 | | | 6/30/2012 | | |
Reconciliation of Non-GAAP measure: | | | | | | | | | | | | | | | | |
Net income (loss) | | $ | 33 | | | $ | (18 | ) | | $ | (28 | ) | | $ | 43 | |
Provision of income taxes | | | 22 | | | | (9 | ) | | | (16 | ) | | | 29 | |
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Income (loss) from continuing operations before provision for income taxes | | $ | 55 | | | $ | (27 | ) | | $ | (44 | ) | | $ | 72 | |
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Adjustments to reconcile to Income from continuing operations before provision for income taxes | | | | | | | | | | | | | | | | |
Interest expense | | $ | 107 | | | $ | 49 | | | $ | 53 | | | $ | 103 | |
Depreciation and amortization | | | 35 | | | | 17 | | | | 18 | | | | 34 | |
Amortization included in interest expense | | | (7 | ) | | | (4 | ) | | | (3 | ) | | | (8 | ) |
Realized gain on derivative contracts | | | (8 | ) | | | (2 | ) | | | (4 | ) | | | (6 | ) |
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EBITDA from Continuing Operations | | $ | 182 | | | $ | 33 | | | $ | 20 | | | $ | 195 | |
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Loss on early extinguishment of debt | | | 13 | | | | — | | | | 13 | | | | — | |
Restructuring costs | | | 2 | | | | 1 | | | | 1 | | | | 2 | |
Non-recurring advisory fee | | | 1 | | | | 1 | | | | 1 | | | | 1 | |
Realized losses on foreign currency | | | 1 | | | | — | | | | 1 | | | | — | |
Non-cash equity based compensation | | | 1 | | | | — | | | | — | | | | 1 | |
Other one-time charges | | | 1 | | | | 1 | | | | 1 | | | | 1 | |
Estimated impact of certain non-recurring events | | | 5 | | | | 1 | | | | 1 | | | | 5 | |
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Segment Earnings | | $ | 206 | | | $ | 37 | | | $ | 38 | | | $ | 205 | |
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