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8-K/A - AMENDMENT NO. 2 TO FORM 8-K - Element Solutions Inc | d834966d8ka.htm |
EX-99.2 - EX-99.2 - Element Solutions Inc | d834966dex992.htm |
Exhibit 99.1
ARYSTA LIFESCIENCE LIMITED
CONSOLIDATED FINANCIAL STATEMENTS
CONSOLIDATED INCOME STATEMENT
Years ended December 31, | ||||||||||||
Continuing operations | Notes | 2012 | 2013 | |||||||||
(U.S. dollars in thousands) | ||||||||||||
Sales |
3 | $ | 1,468,075 | $ | 1,508,925 | |||||||
Cost of goods sold |
8 | (954,336 | ) | (979,335 | ) | |||||||
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Gross profit |
513,739 | 529,590 | ||||||||||
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Selling, general and administrative expense |
8 | (345,439 | ) | (347,759 | ) | |||||||
Other operating income |
7 | 6,592 | 5,732 | |||||||||
Other operating expense |
7 | (6,409 | ) | (49,979 | ) | |||||||
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Operating income |
168,483 | 137,584 | ||||||||||
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Interest income |
24,983 | 24,293 | ||||||||||
Other financial income |
631 | 9,071 | ||||||||||
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Financial income |
9 | 25,614 | 33,364 | |||||||||
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Interest expense |
(135,689 | ) | (134,595 | ) | ||||||||
Other financial expense |
(92,340 | ) | (70,091 | ) | ||||||||
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Financial expense |
9 | (228,029 | ) | (204,686 | ) | |||||||
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Income (loss) before tax from continuing operations |
(33,932 | ) | (33,738 | ) | ||||||||
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Income tax benefit (expense) |
5 | (45,078 | ) | (47,593 | ) | |||||||
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Income (loss) after tax from continuing operations |
$ | (79,010 | ) | $ | (81,331 | ) | ||||||
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Discontinued operations |
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Income (loss) after tax from discontinued operations |
4 | (73,092 | ) | (12,104 | ) | |||||||
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Net income (loss) |
$ | (152,102 | ) | $ | (93,435 | ) | ||||||
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Attributable to: |
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Arysta LifeScience Limited (ALS) shareholder |
(160,802 | ) | (102,629 | ) | ||||||||
Non-controlling interests |
21 | 8,700 | 9,194 | |||||||||
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Net income (loss) |
$ | (152,102 | ) | $ | (93,435 | ) | ||||||
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Earnings per share |
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Continuing operations |
6 | (87,710 | ) | (90,525 | ) | |||||||
Discontinued operations |
6 | (73,092 | ) | (12,104 | ) | |||||||
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Basic and diluted earnings (loss) per share |
$ | (160,802 | ) | $ | (102,629 | ) | ||||||
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Weighted average shares used to compute earnings (loss) per share |
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Basic and diluted |
1 | 1 | ||||||||||
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The accompanying notes form an integral part of the consolidated financial statements.
ARYSTA LIFESCIENCE LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
6. Earnings (loss) per Share
Basic and diluted earnings per share (EPS) amounts are calculated by dividing the net income (loss) for the year attributable to the ordinary shareholder of the Company by the weighted average number of ordinary shares outstanding during the year. In 2012, the Group excluded certain potentially issuable shares from the calculation of diluted net loss per share as their effect, if included, would have been anti-dilutive. Refer to note 20 for more information regarding these potentially issuable shares. There were no potentially issuable shares as of December 31, 2013. There are no other transactions involving ordinary shares or potential ordinary shares between the reporting date and the date of authorization of these financial statements.
The following reflects the income and share data used in the basic and diluted earnings per share computations:
Years ended December 31, |
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2012 | 2013 | |||||||
(U.S. dollars in thousands) | ||||||||
Net income (loss) attributable to the shareholder of ALS from continuing operations |
$ | (87,710 | ) | $ | (90,525 | ) | ||
Net income (loss) attributable to the shareholder of ALS from discontinued operations |
(73,092 | ) | (12,104 | ) | ||||
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Net income (loss) attributable to the shareholder of ALS |
$ | (160,802 | ) | $ | (102,629 | ) | ||
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Years ended December 31, |
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2012 | 2013 | |||||||
Weighted average number of sharesbasic and diluted |
1 | 1 | ||||||
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Years ended December 31, |
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2012 | 2013 | |||||||
(U.S. dollars in thousands) | ||||||||
Basic and diluted EPS attributable to ordinary shareholder of ALS |
$ | (160,802 | ) | $ | (102,629 | ) | ||
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Basic and diluted EPS from continuing operations |
$ | (87,710 | ) | $ | (90,525 | ) | ||
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