Exhibit 99.2
The following tables provide consolidated statements of operations reclassified to reflect the adoption of new accounting guidance relative to noncontrolling interests contained in Accounting Standards Codification 810,Consolidation.
GARDNER DENVER, INC.
RECLASSIFIED CONSOLIDATED STATEMENTS OF OPERATIONS
(Dollars in thousands except per share amounts)
(Unaudited)
RECLASSIFIED CONSOLIDATED STATEMENTS OF OPERATIONS
(Dollars in thousands except per share amounts)
(Unaudited)
Year Ended December 31, 2009 | ||||||||||||||||||||
First | Second | Third | Fourth | Total | ||||||||||||||||
Quarter | Quarter | Quarter | Quarter | Year | ||||||||||||||||
Revenues | $ | 462,480 | $ | 436,049 | $ | 428,846 | $ | 450,770 | $ | 1,778,145 | ||||||||||
Cost of sales | 321,869 | 305,513 | 293,651 | 306,499 | 1,227,532 | |||||||||||||||
Gross profit | 140,611 | 130,536 | 135,195 | 144,271 | 550,613 | |||||||||||||||
Selling and administrative expenses | 94,583 | 87,170 | 89,946 | 84,511 | 356,210 | |||||||||||||||
Other operating expense, net | 8,176 | 20,379 | 10,599 | 6,519 | 45,673 | |||||||||||||||
Impairment charges | 265,000 | (3,935 | ) | 2,540 | (1,205 | ) | 262,400 | |||||||||||||
Operating (loss) income | (227,148 | ) | 26,922 | 32,110 | 54,446 | (113,670 | ) | |||||||||||||
Interest expense | 7,657 | 6,611 | 7,109 | 7,108 | 28,485 | |||||||||||||||
Other income, net | (188 | ) | (1,243 | ) | (1,738 | ) | (592 | ) | (3,761 | ) | ||||||||||
(Loss) income before income taxes | (234,617 | ) | 21,554 | 26,739 | 47,930 | (138,394 | ) | |||||||||||||
Provision for income taxes | 13,855 | (6,493 | ) | 7,074 | 10,469 | 24,905 | ||||||||||||||
Net (loss) income | (248,472 | ) | 28,047 | 19,665 | 37,461 | (163,299 | ) | |||||||||||||
Less: Net income attributable to noncontrolling interests | 697 | 648 | 248 | 293 | 1,886 | |||||||||||||||
Net (loss) income attributable to Gardner Denver | $ | (249,169 | ) | $ | 27,399 | $ | 19,417 | $ | 37,168 | $ | (165,185 | ) | ||||||||
Net (loss) earnings per share attributable to | ||||||||||||||||||||
Gardner Denver common stockholders | ||||||||||||||||||||
Basic (loss) earnings per share | $ | (4.81 | ) | $ | 0.53 | $ | 0.37 | $ | 0.71 | $ | (3.18 | ) | ||||||||
Diluted (loss) earnings per share | $ | (4.81 | ) | $ | 0.53 | $ | 0.37 | $ | 0.71 | $ | (3.18 | ) | ||||||||
Year Ended December 31, 2008 | Year Ended | |||||||||||||||||||||||
First | Second | Third | Fourth | Total | December 31, | |||||||||||||||||||
Quarter | Quarter | Quarter | Quarter | Year | 2007 | |||||||||||||||||||
Revenues | $ | 495,670 | $ | 518,112 | $ | 480,310 | $ | 524,240 | $ | 2,018,332 | $ | 1,868,844 | ||||||||||||
Cost of sales | 334,344 | 350,236 | 329,925 | 365,537 | 1,380,042 | 1,248,921 | ||||||||||||||||||
Gross profit | 161,326 | 167,876 | 150,385 | 158,703 | 638,290 | 619,923 | ||||||||||||||||||
Selling and administrative expenses | 86,619 | 90,368 | 80,343 | 91,247 | 348,577 | 327,049 | ||||||||||||||||||
Other operating (income) expense, net | (1,550 | ) | 3,522 | 14,243 | 13,768 | 29,983 | 57 | |||||||||||||||||
Operating income | 76,257 | 73,986 | 55,799 | 53,688 | 259,730 | 292,817 | ||||||||||||||||||
Interest expense | 5,600 | 5,041 | 3,829 | 11,013 | 25,483 | 26,211 | ||||||||||||||||||
Other (income) expense, net | (241 | ) | (336 | ) | (237 | ) | 64 | (750 | ) | (3,052 | ) | |||||||||||||
Income before income taxes | 70,898 | 69,281 | 52,207 | 42,611 | 234,997 | 269,658 | ||||||||||||||||||
Provision for income taxes | 19,730 | 19,324 | 17,226 | 11,205 | 67,485 | 63,256 | ||||||||||||||||||
Net income | 51,168 | 49,957 | 34,981 | 31,406 | 167,512 | 206,402 | ||||||||||||||||||
Less: Net income attributable to noncontrolling interests | 309 | 391 | 343 | 488 | 1,531 | 1,298 | ||||||||||||||||||
Net income attributable to Gardner Denver | $ | 50,859 | $ | 49,566 | $ | 34,638 | $ | 30,918 | $ | 165,981 | $ | 205,104 | ||||||||||||
Net earnings per share attributable to Gardner Denver common stockholders | ||||||||||||||||||||||||
Basic earnings per share | $ | 0.96 | $ | 0.94 | $ | 0.65 | $ | 0.60 | $ | 3.16 | $ | 3.85 | ||||||||||||
Diluted earnings per share | $ | 0.95 | $ | 0.93 | $ | 0.65 | $ | 0.60 | $ | 3.12 | $ | 3.80 | ||||||||||||