Attached files
| file | filename |
|---|---|
| 8-K - 8-K - EARNINGS RELEASE 3.31.2017 - LOUISIANA-PACIFIC CORP | lpx33120178k.htm |
| EX-99.2 - EXHIBIT 99.2 - EBITDA RECONCILIATION - LOUISIANA-PACIFIC CORP | ex992-033117ebitdareconcil.htm |
| EX-99.1 - EXHIBIT 99.1 - PRESS RELEASE - LOUISIANA-PACIFIC CORP | ex991-q12017pressrelease.htm |
Exhibit 99.3 Reconciliation of Adjusted income from continuing operations
As reported Quarter Ended March 31, 2017 | Adjustments | As adjusted Quarter Ended March 31, 2017 | As reported Quarter Ended December 31, 2016 | Adjustments | As adjusted Quarter Ended December 31, 2016 | As reported Quarter Ended March 31, 2016 | Adjustments | As adjusted Quarter Ended March 31, 2016 | |||||||||||||||||||
Net sales | $ | 610.9 | $ | 610.9 | $ | 550.0 | $ | 550.0 | $ | 504.6 | $ | 504.6 | |||||||||||||||
Operating costs and expenses: | |||||||||||||||||||||||||||
Cost of sales | 455.0 | 455.0 | 422.8 | 422.8 | 415.5 | 415.5 | |||||||||||||||||||||
Depreciation and amortization | 30.6 | 30.6 | 26.8 | 26.8 | 27.9 | 27.9 | |||||||||||||||||||||
Selling and administrative | 48.6 | 48.6 | 47.8 | 47.8 | 42.3 | 42.3 | |||||||||||||||||||||
(Gain) loss on sale or impairment of long-lived assets, net | 0.6 | (0.6 | ) | — | (9.4 | ) | 9.4 | — | — | — | |||||||||||||||||
Other operating credits and charges, net | 3.4 | (3.4 | ) | — | 6.0 | (6.0 | ) | — | — | — | |||||||||||||||||
Total operating costs and expenses | 538.2 | 534.2 | 494.0 | 497.4 | 485.7 | 485.7 | |||||||||||||||||||||
Income from operations | 72.7 | 76.7 | 56.0 | 52.6 | 18.9 | 18.9 | |||||||||||||||||||||
Non-operating income (expense): | |||||||||||||||||||||||||||
Interest expense, net of capitalized interest | (5.0 | ) | — | (5.0 | ) | (5.8 | ) | 0.3 | (5.5 | ) | (8.0 | ) | (8.0 | ) | |||||||||||||
Investment income | 2.0 | 2.0 | 1.8 | 1.8 | 1.8 | 1.8 | |||||||||||||||||||||
Other non-operating items | (0.3 | ) | (0.3 | ) | (3.4 | ) | 4.1 | 0.7 | 0.5 | 0.5 | |||||||||||||||||
Total non-operating income (expense) | (3.3 | ) | (3.3 | ) | (7.4 | ) | (3.0 | ) | (5.7 | ) | (5.7 | ) | |||||||||||||||
Income from continuing operations before taxes and equity in income of unconsolidated affiliates | 69.4 | 73.4 | 48.6 | 49.6 | 13.2 | 13.2 | |||||||||||||||||||||
Provision for income taxes | 15.5 | (15.5 | ) | — | 6.7 | (6.7 | ) | — | 4.4 | (4.4 | ) | — | |||||||||||||||
"Normalized" tax rate @ 35% | — | 26.1 | 26.1 | — | 17.6 | 17.6 | — | 5.1 | 5.1 | ||||||||||||||||||
Equity in income of unconsolidated affiliates | (1.1 | ) | (1.1 | ) | (0.8 | ) | — | (0.8 | ) | (1.5 | ) | (1.5 | ) | ||||||||||||||
Income from continuing operations | 55.0 | 48.4 | 42.7 | 32.8 | 10.3 | 9.6 | |||||||||||||||||||||
Loss from discontinued operations before taxes | — | — | (0.8 | ) | (0.8 | ) | — | — | |||||||||||||||||||
Benefit for income taxes | — | — | (0.3 | ) | (0.3 | ) | — | ||||||||||||||||||||
Loss from discontinued operations | — | — | (0.5 | ) | (0.5 | ) | — | — | |||||||||||||||||||
Net income | $ | 55.0 | $ | 48.4 | $ | 42.2 | $ | 32.3 | $ | 10.3 | $ | 9.6 | |||||||||||||||
Net income per share of common stock (basic): | |||||||||||||||||||||||||||
Income from continuing operations | $ | 0.38 | $ | 0.34 | $ | 0.30 | $ | 0.23 | $ | 0.07 | $ | 0.07 | |||||||||||||||
Loss from discontinued operations | — | — | (0.01 | ) | — | — | — | ||||||||||||||||||||
Net income per share - basic | $ | 0.38 | $ | 0.34 | $ | 0.29 | $ | 0.23 | $ | 0.07 | $ | 0.07 | |||||||||||||||
Net income per share of common stock (diluted): | |||||||||||||||||||||||||||
Income from continuing operations | $ | 0.38 | $ | 0.33 | $ | 0.29 | $ | 0.23 | $ | 0.07 | $ | 0.07 | |||||||||||||||
Loss from discontinued operations | — | — | — | — | — | — | |||||||||||||||||||||
Net income per share - diluted | $ | 0.38 | $ | 0.33 | $ | 0.29 | $ | 0.23 | $ | 0.07 | $ | 0.07 | |||||||||||||||
Average shares of stock outstanding - basic | 144.2 | 144.2 | 143.7 | 143.7 | 142.9 | 142.9 | |||||||||||||||||||||
Average shares of stock outstanding - diluted | 145.9 | 145.9 | 145.5 | 145.5 | 145.2 | 145.2 | |||||||||||||||||||||