Attached files
| file | filename |
|---|---|
| EX-99.1 - PRESS RELEASE OF JARDEN CORPORATION, DATED FEBRUARY 16, 2011 - JARDEN CORP | dex991.htm |
| 8-K - FORM 8-K - JARDEN CORP | d8k.htm |
Exhibit 99.2
| JARDEN CORPORATION Reconciliation of GAAP to NON GAAP Exhibit 99.2 For the quarter and year ended December 31, 2010 and 2009 | ||
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| Quarters ended | Years ended | |||||||||||||||
| (in millions) | December 31, 2010 |
December 31, 2009 |
December 31, 2010 |
December 31, 2009 |
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| Reconciliation of Non-GAAP measure: |
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| Net income |
46.7 | 1.2 | $ | 106.7 | $ | 128.7 | ||||||||||
| Income tax provision |
46.3 | 32.2 | 122.8 | 110.7 | ||||||||||||
| Interest expense, net |
47.5 | 37.3 | 177.8 | 147.5 | ||||||||||||
| Depreciation and amortization |
39.8 | 35.9 | 142.8 | 130.3 | ||||||||||||
| Earnings before interest, taxes, depreciation and amortization (EBITDA) |
180.3 | 106.6 | 550.1 | 517.2 | ||||||||||||
| Other adjustments: |
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| Fair value adjustment to inventory |
2.1 | — | 27.4 | — | ||||||||||||
| Acquisition related and other items |
27.8 | — | 42.3 | — | ||||||||||||
| Reorganization, acquisition-related integration costs, net |
— | 29.2 | — | 48.5 | ||||||||||||
| Venezuela hyperinflationary and devaluation charge, net |
(7.5 | ) | — | 70.6 | — | |||||||||||
| Impairment of goodwill and other intangibles |
0.7 | 22.9 | 19.7 | 22.9 | ||||||||||||
| Other adjustments, net |
— | 17.1 | — | 17.1 | ||||||||||||
| As Adjusted EBITDA |
$ | 203.4 | $ | 175.8 | $ | 710.1 | $ | 605.7 | ||||||||
Organic net sales growth is a non-GAAP measure of net sales growth excluding the impacts of foreign exchange and acquisitions 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 quarter ended December 31, 2010:
| Outdoor Solutions |
Consumer Solutions |
Branded Consumables |
Process Solutions |
Elimination | Consolidated | |||||||||||||||||||
| Reconciliation of Non-GAAP measure: |
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| Net sales growth |
16.8 | % | — | % | 94.2 | % | 18.0 | % | 0.8 | % | 20.9 | % | ||||||||||||
| Foreign exchange impacts |
1.3 | % | 3.4 | % | (0.1 | %) | — | % | — | % | 2.0 | % | ||||||||||||
| Less: Acquisitions |
(5.4 | %) | — | % | (92.4 | %) | — | % | — | % | (15.6 | %) | ||||||||||||
| Organic net sales growth |
12.7 | % | 3.4 | % | 1.7 | % | 18.0 | % | 0.8 | % | 7.3 | % | ||||||||||||