Attached files
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EX-99.2 - EXHIBIT 99.2 - EBITDA RECONCILIATION - LOUISIANA-PACIFIC CORP | exhibit992ebitdarec123116.htm |
EX-99.1 - EXHIBIT 99.1 - PRESS RELEASE - LOUISIANA-PACIFIC CORP | exhibit991pressrelease1231.htm |
8-K - LPX 8-K - LOUISIANA-PACIFIC CORP | a8k123116.htm |
Exhibit 99.3 Reconciliation of Adjusted income (loss) from continuing operations
As reported Quarter Ended December 31, 2016 | As Adjusted Quarter Ended December 31, 2016 | As reported Quarter Ended September 30, 2016 | As adjusted Quarter Ended September 30, 2016 | As reported Quarter Ended December 31, 2015 | As adjusted Quarter Ended December 31, 2015 | |||||||||||||||||||||
Adjustments | Adjustments | Adjustments | ||||||||||||||||||||||||
Net sales | $ | 550.0 | $ | 550.0 | $ | 596.4 | $ | 596.4 | $ | 462.9 | $ | 462.9 | ||||||||||||||
Operating costs and expenses: | ||||||||||||||||||||||||||
Cost of sales | 422.8 | 422.8 | 442.6 | 442.6 | 395.3 | 395.3 | ||||||||||||||||||||
Depreciation and amortization | 26.8 | 26.8 | 29.6 | 29.6 | 24.0 | 24.0 | ||||||||||||||||||||
Selling and administrative | 47.8 | 47.8 | 47.0 | 47.0 | 37.9 | — | 37.9 | |||||||||||||||||||
(Gain) loss on sale or impairment of long lived assets, net | (9.4 | ) | 9.4 | — | 0.3 | (0.3 | ) | — | 0.6 | (0.6 | ) | — | ||||||||||||||
Other operating credits and charges, net | 6.0 | (6.0 | ) | — | — | — | — | 3.7 | (3.7 | ) | — | |||||||||||||||
Total operating costs and expenses | 494.0 | 497.4 | 519.5 | 519.2 | 461.5 | 457.2 | ||||||||||||||||||||
Income from operations | 56.0 | 52.6 | 76.9 | 77.2 | 1.4 | 5.7 | ||||||||||||||||||||
Non-operating income (expense): | ||||||||||||||||||||||||||
Interest expense, net of capitalized interest | (5.8 | ) | 0.3 | (5.5 | ) | (9.0 | ) | 1.0 | (8.0 | ) | (8.1 | ) | — | (8.1 | ) | |||||||||||
Investment income | 1.8 | 1.8 | 2.5 | 2.5 | 1.5 | 1.5 | ||||||||||||||||||||
Other non-operating items | (3.4 | ) | 4.1 | 0.7 | (13.7 | ) | 13.2 | (0.5 | ) | 0.2 | 0.2 | |||||||||||||||
Total non-operating income (expense) | (7.4 | ) | (3.0 | ) | (20.2 | ) | (6.0 | ) | (6.4 | ) | (6.4 | ) | ||||||||||||||
Income (loss) from continuing operations before income taxes and equity in income of unconsolidated affiliates | 48.6 | 49.6 | 56.7 | 71.2 | (5.0 | ) | (0.7 | ) | ||||||||||||||||||
Provision (benefit) for income taxes | 6.7 | (6.7 | ) | — | (7.5 | ) | 7.5 | — | 5.0 | (5.0 | ) | — | ||||||||||||||
"Normalized" tax rate @ 35% | — | 17.6 | 17.6 | — | 25.4 | 25.4 | 0.4 | 0.4 | ||||||||||||||||||
Equity in income of unconsolidated affiliates | (0.8 | ) | (0.8 | ) | (1.4 | ) | (1.4 | ) | (2.6 | ) | 0.7 | (1.9 | ) | |||||||||||||
Income (loss) from continuing operations | 42.7 | 32.8 | 65.6 | 47.2 | (7.4 | ) | 0.8 | |||||||||||||||||||
Loss from discontinued operations before tax | (0.8 | ) | (0.8 | ) | — | — | (0.3 | ) | (0.3 | ) | ||||||||||||||||
Benefit for income taxes | (0.3 | ) | (0.3 | ) | — | — | (0.1 | ) | (0.1 | ) | ||||||||||||||||
Loss from discontinued operations | (0.5 | ) | (0.5 | ) | — | — | (0.2 | ) | (0.2 | ) | ||||||||||||||||
Net income (loss) | $ | 42.2 | $ | 32.3 | $ | 65.6 | $ | 47.2 | $ | (7.6 | ) | $ | 0.6 | |||||||||||||
Net income (loss) per share of common stock (basic): | ||||||||||||||||||||||||||
Income (loss) per share from continuing operations | $ | 0.30 | $ | 0.23 | $ | 0.46 | $ | 0.33 | $ | (0.05 | ) | $ | 0.01 | |||||||||||||
Loss from discontinued operations | (0.01 | ) | — | — | — | — | — | |||||||||||||||||||
Net Income (loss) per share - basic | $ | 0.29 | $ | 0.23 | $ | 0.46 | $ | 0.33 | $ | (0.05 | ) | $ | 0.01 | |||||||||||||
Net income (loss) per share of common stock (diluted): | ||||||||||||||||||||||||||
Income (loss) from continuing operations | $ | 0.29 | $ | 0.23 | $ | 0.45 | $ | 0.32 | $ | (0.05 | ) | $ | 0.01 | |||||||||||||
Loss from discontinued operations | — | — | — | — | — | — | ||||||||||||||||||||
Net Income (loss) per share | $ | 0.29 | $ | 0.23 | $ | 0.45 | $ | 0.32 | $ | (0.05 | ) | $ | 0.01 | |||||||||||||
Average shares of stock outstanding - basic | 143.7 | 143.7 | 143.7 | 143.7 | 142.7 | 142.7 | ||||||||||||||||||||
Average shares of stock outstanding - diluted | 145.5 | 145.5 | 145.4 | 145.4 | 142.7 | 142.7 |
As Reported Year Ended December 31, 2016 | As Adjusted Year Ended December 31, 2016 | As Reported Year Ended December 31, 2015 | As Adjusted Year Ended December 31, 2015 | ||||||||||||||
Adjustments | Adjustments | ||||||||||||||||
Net sales | $ | 2,233.4 | $ | 2,233.4 | $ | 1,892.5 | $ | 1,892.5 | |||||||||
Operating costs and expenses: | |||||||||||||||||
Cost of sales | 1,724.0 | 1,724.0 | 1,682.7 | 1,682.7 | |||||||||||||
Depreciation and amortization | 112.8 | 112.8 | 101.9 | 101.9 | |||||||||||||
Selling and administrative | 183.6 | 183.6 | 152.8 | 152.8 | |||||||||||||
(Gain) Loss on sale or impairment of long-lived assets, net | (8.4 | ) | 8.4 | — | 2.1 | (2.1 | ) | — | |||||||||
Other operating credits and charges, net | 17.4 | (17.4 | ) | — | 16.3 | (16.3 | ) | — | |||||||||
Total operating costs and expenses | 2,029.4 | 2,020.4 | 1,955.8 | 1,937.4 | |||||||||||||
Income (loss) from operations | 204.0 | 213.0 | (63.3 | ) | (44.9 | ) | |||||||||||
Non-operating income (expense): | |||||||||||||||||
Interest expense, net of capitalized interest | (32.1 | ) | 2.8 | (29.3 | ) | (31.2 | ) | (31.2 | ) | ||||||||
Investment income | 8.2 | 8.2 | 4.4 | 4.4 | |||||||||||||
Other non-operating items | (15.2 | ) | 17.3 | 2.1 | (5.3 | ) | (5.3 | ) | |||||||||
Total non-operating income (expense) | (39.1 | ) | (19.0 | ) | (32.1 | ) | (32.1 | ) | |||||||||
Income (loss) from continuing operations before income taxes and equity in income of unconsolidated affiliates | 164.9 | 194.0 | (95.4 | ) | (77.0 | ) | |||||||||||
Provision (benefit) for income taxes | 19.8 | (19.8 | ) | — | (2.7 | ) | 2.7 | — | |||||||||
"Normalized" tax rate @ 35% | — | 69.7 | 69.7 | — | (24.9 | ) | (24.9 | ) | |||||||||
Equity in income of unconsolidated affiliates | (5.2 | ) | — | (5.2 | ) | (6.7 | ) | 0.7 | (6.0 | ) | |||||||
Income (loss) from continuing operations | 150.3 | 129.5 | (86.0 | ) | (46.1 | ) | |||||||||||
Loss from discontinued operations before taxes | (0.8 | ) | (0.8 | ) | (3.2 | ) | (3.2 | ) | |||||||||
Benefit for income taxes | (0.3 | ) | (0.3 | ) | (1.1 | ) | (1.1 | ) | |||||||||
Loss from discontinued operations | (0.5 | ) | (0.5 | ) | (2.1 | ) | (2.1 | ) | |||||||||
Net income (loss) | $ | 149.8 | $ | 129.0 | $ | (88.1 | ) | $ | (48.2 | ) | |||||||
Income (loss) per share of common stock (basic): | |||||||||||||||||
Income (loss) from continuing operations | $ | 1.05 | $ | 0.90 | $ | (0.60 | ) | $ | (0.32 | ) | |||||||
Loss from discontinued operations | (0.01 | ) | — | (0.02 | ) | (0.02 | ) | ||||||||||
Net income (loss) per share | $ | 1.04 | $ | 0.90 | $ | (0.62 | ) | $ | (0.34 | ) | |||||||
Income (loss) per share of common stock (diluted): | |||||||||||||||||
Income (loss) from continuing operations | $ | 1.03 | $ | 0.89 | $ | (0.60 | ) | $ | (0.32 | ) | |||||||
Loss from discontinued operations | — | — | (0.02 | ) | (0.02 | ) | |||||||||||
Net income (loss) per share | $ | 1.03 | $ | 0.89 | $ | (0.62 | ) | $ | (0.34 | ) | |||||||
Average shares of stock outstanding - basic | 143.4 | 143.4 | 142.4 | 142.4 | |||||||||||||
Average shares of stock outstanding - diluted | 145.3 | 145.3 | 142.4 | 142.4 |