Jarden (JAH) 8-K Jarden Reports Fourth Quarter and 2014 Full Year Results

Exhibit 99.2

    JARDEN CORPORATION Reconciliation of Non-GAAP Financial Measures For the quarters and years ended December 31, 2014 and 2013 in millions

Segment earnings:

	For the quarters ended				For the years ended
	December 31, 2014		December 31, 2013		December 31, 2014		December 31, 2013
Net income	$	78.1	$	37.0	$	242.5	$	203.9
Income tax provision		25.3		53.4		130.3		147.7
Interest expense, net		50.7		52.1		210.3		195.4
Loss on early extinguishment of debt		2.3		—		56.7		25.9
Depreciation and amortization		50.3		50.1		191.1		165.9
Earnings before interest, taxes, depreciation and amortization (EBITDA)		206.7		192.6		830.9		738.8
Other adjustments:
Fair market value adjustment to inventory		9.8		78.9		23.4		89.8
Restructuring costs, net		4.6		17.6		7.7		22.0
Acquisition-related and other costs, net (a)		6.6		10.8		42.0		17.6
Foreign exchange-related charges (b)		157.7		—		174.6		29.0
Stock compensation adjustment		—		38.8		—		38.8
Impairment of intangible assets		25.4		—		25.4		—
Segment earnings (As Adjusted EBITDA)	$	410.8	$	338.7	$	1,104.0	$	936.0

(a) Includes a gain of $38.7 million related to the sale of an Asian manufacturing operation.

(b) Foreign exchange-related losses on Venezuela balance sheet remeasurement charge and cash conversion costs in 2014. Venezuela devaluation-related charges in 2013

Segment earnings margins:

	For the quarters ended									For the years ended
	December 31, 2014			December 31, 2013			Increase/ (Decrease)			December 31, 2014			December 31, 2013			Increase/ (Decrease)
Net sales	$	2,438.0		$	2,215.6					$	8,287.1		$	7,355.9
Segment earnings		410.8			338.7			72.1			1,104.0			936.0			168.0
Segment earnings margin		16.8	%		15.3	%		1.5	%		13.3	%		12.7	%		0.6	%

Organic net sales:

Organic net sales growth is a non-GAAP measure of net sales growth excluding the impacts of foreign exchange, certain acquisitions and exited businesses 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 tables provide reconciliation of organic net sales growth to the comparable GAAP measure of net sales growth for the quarter and year ended December 31, 2014:

	For the quarter ended December 31, 2014
	Branded Consumables			Consumer Solutions			Outdoor Solutions			Process Solutions			Eliminations			Consolidated
Net sales growth		11.6	%		16.2	%		0.5	%		12.6	%		9.0	%		10.0	%
Foreign exchange impacts		2.6	%		2.6	%		4.1	%		0.1	%		—			3.0	%
(Acquisitions)/exited businesses and other, net		(0.8	)%		(3.9	)%		—			—			—			(1.6	)%
Organic net sales growth		13.4	%		14.9	%		4.6	%		12.7	%		9.0	%		11.4	%
Excluding impact of Cadence		—			(5.0	)%		—			—			—			(1.6	)%
Organic net sales growth, excluding impact of Cadence		13.4	%		9.9	%		4.6	%		12.7	%		9.0	%		9.8	%

	For the year ended December 31, 2014
	Branded Consumables			Consumer Solutions			Outdoor Solutions			Process Solutions			Eliminations			Consolidated
Net sales growth		32.1	%		8.4	%		0.5	%		5.9	%		7.8	%		12.7	%
Foreign exchange impacts		1.3	%		1.8	%		1.4	%		(0.3	)%		—			1.4	%
(Acquisitions)/exited businesses and other, net		(24.5	)%		(2.3	)%		—			—			—			(8.3	)%
Organic net sales growth		8.9	%		7.9	%		1.9	%		5.6	%		7.8	%		5.8	%
Excluding impact of Cadence		—			(3.3	)%		—			—			—			(0.9	)%
Organic net sales growth, excluding impact of Cadence		8.9	%		4.6	%		1.9	%		5.6	%		7.8	%		4.9	%

Adjusted gross margins:

	For the quarters ended									For the years ended
	December 31, 2014			December 31, 2013			Increase/ (Decrease)			December 31, 2014			December 31, 2013			Increase/ (Decrease)
Gross margins as reported		34.6	%		28.6	%		6.0	%		31.8	%		28.7	%		3.1	%
Fair market value adjustment to inventory		0.4	%		3.5	%		(3.1	)%		0.3	%		1.2	%		(0.9	)%
Acquisition-related and other costs, net		(0.5	)%		0.8	%		(1.3	)%		0.1	%		0.3	%		(0.2	)%
Accelerated depreciation		—			0.1	%		(0.1	)%		—			0.1	%		(0.1	)%
Adjusted gross margins		34.5	%		33.0	%		1.5	%		32.2	%		30.3	%		1.9	%

Adjusted selling, general administrative costs as a percent of sales:

	For the quarters ended									For the years ended
	December 31, 2014			December 31, 2013			Increase/ (Decrease)			December 31, 2014			December 31, 2013			Increase/ (Decrease)
Reported selling, general and administrative cost as a percent of sales		26.9	%		21.4	%		5.5	%		23.7	%		20.7	%		3.0	%
Acquisition-related and other costs, net		(0.8	)%		0.3	%		(1.1	)%		(0.4	)%		—			(0.4	)%
Foreign-exchange related charges		(6.4	)%		—			(6.4	)%		(2.1	)%		(0.4	)%		(1.7	)%
Stock compensation adjustment		—			(1.7	)%		1.7	%		—			(0.5	)%		0.5	%
Amortization of acquired intangibles		(0.3	)%		(0.3	)%		—			(0.4	)%		(0.4	)%		—
Adjusted selling, general and administrative cost as a percent of sales		19.4	%		19.7	%		(0.3	)%		20.8	%		19.4	%		1.4	%