Attached files
| file | filename |
|---|---|
| 8-K - 8-K - EARNINGS RELEASE 3.31.2017 - LOUISIANA-PACIFIC CORP | lpx33120178k.htm |
| EX-99.3 - EXHIBIT 99.3 - IS RECONCILIATION - LOUISIANA-PACIFIC CORP | ex993-033117lpxisreconcili.htm |
| EX-99.1 - EXHIBIT 99.1 - PRESS RELEASE - LOUISIANA-PACIFIC CORP | ex991-q12017pressrelease.htm |
Exhibit 99.2 Reconciliation of EBITDA and Adjusted EBITDA for the quarter ended March 31, 2017 and 2016.
Three Months Ended March 31, 2017 (Dollar amounts in millions) | OSB | Siding | EWP | South America | Other | Corporate | Total | ||||||||||||||||||||
Net Sales | $ | 268.4 | $ | 214.0 | $ | 82.1 | $ | 37.8 | $ | 8.7 | $ | (0.1 | ) | $ | 610.9 | ||||||||||||
Depreciation and amortization | 14.7 | 8.1 | 3.8 | 2.2 | 0.9 | 0.9 | 30.6 | ||||||||||||||||||||
Cost of sales and selling and administrative | 193.3 | 165.7 | 78.8 | 30.5 | 8.0 | 27.3 | 503.6 | ||||||||||||||||||||
Loss on sale or impairment of long lived assets, net | — | — | — | — | — | 0.6 | 0.6 | ||||||||||||||||||||
Other operating credits and charges, net | — | — | — | — | — | 3.4 | 3.4 | ||||||||||||||||||||
Total operating costs | 208.0 | 173.8 | 82.6 | 32.7 | 8.9 | 32.2 | 538.2 | ||||||||||||||||||||
Income (loss) from operations | 60.4 | 40.2 | (0.5 | ) | 5.1 | (0.2 | ) | (32.3 | ) | 72.7 | |||||||||||||||||
Total non-operating expense | — | — | — | — | — | (3.3 | ) | (3.3 | ) | ||||||||||||||||||
Income (loss) before income taxes and equity in income of unconsolidated affiliates | 60.4 | 40.2 | (0.5 | ) | 5.1 | (0.2 | ) | (35.6 | ) | 69.4 | |||||||||||||||||
Income tax provision | — | — | — | — | — | 15.5 | 15.5 | ||||||||||||||||||||
Equity in income of unconsolidated affiliates | — | — | (1.1 | ) | — | — | — | (1.1 | ) | ||||||||||||||||||
Net income (loss) | $ | 60.4 | $ | 40.2 | $ | 0.6 | $ | 5.1 | $ | (0.2 | ) | $ | (51.1 | ) | $ | 55.0 | |||||||||||
Reconciliation of net income (loss) to Adjusted EBITDA | |||||||||||||||||||||||||||
Net income (loss) | $ | 60.4 | $ | 40.2 | $ | 0.6 | $ | 5.1 | $ | (0.2 | ) | $ | (51.1 | ) | $ | 55.0 | |||||||||||
Income tax provision | — | — | — | — | — | 15.5 | 15.5 | ||||||||||||||||||||
Interest expense, net of capitalized interest | — | — | — | — | — | 5.0 | 5.0 | ||||||||||||||||||||
Depreciation and amortization | 14.7 | 8.1 | 3.8 | 2.2 | 0.9 | 0.9 | 30.6 | ||||||||||||||||||||
EBITDA | 75.1 | 48.3 | 4.4 | 7.3 | 0.7 | (29.7 | ) | 106.1 | |||||||||||||||||||
Stock-based compensation expense | 0.2 | 0.2 | 0.1 | — | — | 3.6 | 4.1 | ||||||||||||||||||||
Loss on sale or impairment of long lived assets, net | — | — | — | — | — | 0.6 | 0.6 | ||||||||||||||||||||
Investment income | — | — | — | — | — | (2.0 | ) | (2.0 | ) | ||||||||||||||||||
Other operating credits and charges, net | — | — | — | — | — | 3.4 | 3.4 | ||||||||||||||||||||
Adjusted EBITDA | $ | 75.3 | $ | 48.5 | $ | 4.5 | $ | 7.3 | $ | 0.7 | $ | (24.1 | ) | $ | 112.2 | ||||||||||||
Three Months Ended March 31, 2016 (Dollar amounts in millions) | OSB | Siding | EWP | South America | Other | Corporate | Total | ||||||||||||||||||||
Net Sales | $ | 217.0 | $ | 181.3 | $ | 71.8 | $ | 30.5 | $ | 6.1 | $ | (2.1 | ) | $ | 504.6 | ||||||||||||
Depreciation and amortization | 14.5 | 7.2 | 3.1 | 1.9 | 0.4 | 0.8 | 27.9 | ||||||||||||||||||||
Cost of sales and selling and administrative | 187.2 | 147.2 | 72.7 | 23.5 | 6.1 | 21.1 | 457.8 | ||||||||||||||||||||
Total operating costs | 201.7 | 154.4 | 75.8 | 25.4 | 6.5 | 21.9 | 485.7 | ||||||||||||||||||||
Income (loss) from operations | 15.3 | 26.9 | (4.0 | ) | 5.1 | (0.4 | ) | (24.0 | ) | 18.9 | |||||||||||||||||
Total non-operating expense | — | — | — | — | — | (5.7 | ) | (5.7 | ) | ||||||||||||||||||
Income (loss) before taxes and equity in income of unconsolidated affiliates | 15.3 | 26.9 | (4.0 | ) | 5.1 | (0.4 | ) | (29.7 | ) | 13.2 | |||||||||||||||||
Income tax provision | — | — | — | — | — | 4.4 | 4.4 | ||||||||||||||||||||
Equity in income of unconsolidated affiliates | — | — | (1.5 | ) | — | — | — | (1.5 | ) | ||||||||||||||||||
Net income (loss) | $ | 15.3 | $ | 26.9 | $ | (2.5 | ) | $ | 5.1 | $ | (0.4 | ) | $ | (34.1 | ) | $ | 10.3 | ||||||||||
Reconciliation of net income (loss) to Adjusted EBITDA | |||||||||||||||||||||||||||
Net income (loss) | $ | 15.3 | $ | 26.9 | $ | (2.5 | ) | $ | 5.1 | $ | (0.4 | ) | $ | (34.1 | ) | $ | 10.3 | ||||||||||
Income tax provision | — | — | — | — | — | 4.4 | 4.4 | ||||||||||||||||||||
Interest expense, net of capitalized interest | — | — | — | — | — | 8.0 | 8.0 | ||||||||||||||||||||
Depreciation and amortization | 14.5 | 7.2 | 3.1 | 1.9 | 0.4 | 0.8 | 27.9 | ||||||||||||||||||||
EBITDA | 29.8 | 34.1 | 0.6 | 7.0 | — | (20.9 | ) | 50.6 | |||||||||||||||||||
Stock-based compensation expense | 0.2 | 0.3 | 0.2 | — | — | 2.3 | 3.0 | ||||||||||||||||||||
Investment income | — | — | — | — | — | (1.8 | ) | (1.8 | ) | ||||||||||||||||||
Adjusted EBITDA | $ | 30.0 | $ | 34.4 | $ | 0.8 | $ | 7.0 | $ | — | $ | (20.4 | ) | $ | 51.8 | ||||||||||||