Attached files
| file | filename |
|---|---|
| EX-99.2 - EXHIBIT 99.2 EBITDA RECONCILIATION - LOUISIANA-PACIFIC CORP | ex992-063017ebitdareconcil.htm |
| EX-99.1 - EXHIBIT 99.1 - PRESS RELEASE - LOUISIANA-PACIFIC CORP | ex991-q22017pressrelease.htm |
| 8-K - 8-K - EARNINGS RELEASE 6.30.2017 - LOUISIANA-PACIFIC CORP | lpx63020178k.htm |
Exhibit 99.3 Reconciliation of Adjusted income from continuing operations
As reported Quarter Ended June 30, 2017 | Adjustments | As adjusted Quarter Ended June 30, 2017 | As reported Quarter Ended March 31, 2017 | Adjustments | As adjusted Quarter Ended March 31, 2017 | As reported Quarter Ended June 30, 2016 | Adjustments | As adjusted Quarter Ended June 30, 2016 | |||||||||||||||||||
Net sales | $ | 694.1 | $ | 694.1 | $ | 610.9 | $ | 610.9 | $ | 582.4 | $ | 582.4 | |||||||||||||||
Operating costs and expenses: | |||||||||||||||||||||||||||
Cost of sales | 485.7 | 485.7 | 455.0 | 455.0 | 443.1 | 443.1 | |||||||||||||||||||||
Depreciation and amortization | 29.6 | 29.6 | 30.6 | 30.6 | 28.5 | 28.5 | |||||||||||||||||||||
Selling and administrative | 47.0 | 47.0 | 48.6 | 48.6 | 46.5 | 46.5 | |||||||||||||||||||||
(Gain) Loss on sale or impairment of long-lived assets, net | (3.1 | ) | 3.1 | — | 0.6 | (0.6 | ) | — | 0.7 | (0.7 | ) | — | |||||||||||||||
Other operating credits and charges, net | 2.0 | (2.0 | ) | — | 3.4 | (3.4 | ) | — | 11.4 | (11.4 | ) | — | |||||||||||||||
Total operating costs and expenses | 561.2 | 562.3 | 538.2 | 534.2 | 530.2 | 518.1 | |||||||||||||||||||||
Income from operations | 132.9 | 131.8 | 72.7 | 76.7 | 52.2 | 64.3 | |||||||||||||||||||||
Non-operating income (expense): | |||||||||||||||||||||||||||
Interest expense, net of capitalized interest | (4.9 | ) | (4.9 | ) | (5.0 | ) | (5.0 | ) | (9.3 | ) | 1.5 | (7.8 | ) | ||||||||||||||
Investment income | 2.3 | 2.3 | 2.0 | 2.0 | 2.1 | 2.1 | |||||||||||||||||||||
Other non-operating items | (1.5 | ) | (1.5 | ) | (0.3 | ) | (0.3 | ) | 1.4 | 1.4 | |||||||||||||||||
Total non-operating income (expense) | (4.1 | ) | (4.1 | ) | (3.3 | ) | (3.3 | ) | (5.8 | ) | (4.3 | ) | |||||||||||||||
Income before taxes and equity in income of unconsolidated affiliates | 128.8 | 127.7 | 69.4 | 73.4 | 46.4 | 60.0 | |||||||||||||||||||||
Provision for income taxes | 36.0 | (36.0 | ) | — | 15.5 | (15.5 | ) | — | 16.2 | (16.2 | ) | — | |||||||||||||||
"Normalized" tax rate @ 35% | — | 45.3 | 45.3 | — | 26.1 | 26.1 | — | 21.5 | 21.5 | ||||||||||||||||||
Equity in income of unconsolidated affiliates | (1.7 | ) | (1.7 | ) | (1.1 | ) | (1.1 | ) | (1.5 | ) | (1.5 | ) | |||||||||||||||
Net income | $ | 94.5 | $ | 84.1 | $ | 55.0 | $ | 48.4 | $ | 31.7 | $ | 40.0 | |||||||||||||||
Net income per share of common stock: | |||||||||||||||||||||||||||
Net income per share - basic | $ | 0.65 | $ | 0.58 | $ | 0.38 | $ | 0.34 | $ | 0.22 | $ | 0.28 | |||||||||||||||
Net income per share - diluted | $ | 0.65 | $ | 0.58 | $ | 0.38 | $ | 0.33 | $ | 0.22 | $ | 0.28 | |||||||||||||||
Average shares of stock outstanding - basic | 144.5 | 144.5 | 144.2 | 144.2 | 143.4 | 143.4 | |||||||||||||||||||||
Average shares of stock outstanding - diluted | 146.2 | 146.2 | 145.9 | 145.9 | 145.2 | 145.2 | |||||||||||||||||||||
As reported Six Months Ended June 30, 2017 | Adjustments | As adjusted Six Months Ended June 30, 2017 | As reported Six Months Ended June 30, 2016 | Adjustments | As adjusted Six Months Ended June 30, 2016 | |||||||||||||
Net sales | $ | 1,305.0 | $ | 1,305.0 | $ | 1,087.0 | $ | 1,087.0 | ||||||||||
Operating costs and expenses: | ||||||||||||||||||
Cost of sales | 940.7 | 940.7 | 858.6 | 858.6 | ||||||||||||||
Depreciation and amortization | 60.2 | 60.2 | 56.4 | 56.4 | ||||||||||||||
Selling and administrative | 95.6 | 95.6 | 88.8 | 88.8 | ||||||||||||||
(Gain) Loss on sale or impairment of long-lived assets, net | (2.5 | ) | 2.5 | — | 0.7 | (0.7 | ) | — | ||||||||||
Other operating credits and charges, net | 5.4 | (5.4 | ) | — | 11.4 | (11.4 | ) | — | ||||||||||
Total operating costs and expenses | 1,099.4 | 1,096.5 | 1,015.9 | 1,003.8 | ||||||||||||||
Income from operations | 205.6 | 208.5 | 71.1 | 83.2 | ||||||||||||||
Non-operating income (expense): | ||||||||||||||||||
Interest expense, net of capitalized interest | (9.9 | ) | (9.9 | ) | (17.3 | ) | 1.5 | (15.8 | ) | |||||||||
Investment income | 4.3 | 4.3 | 3.9 | 3.9 | ||||||||||||||
Other non-operating items | (1.8 | ) | (1.8 | ) | 1.9 | 1.9 | ||||||||||||
Total non-operating income (expense) | (7.4 | ) | (7.4 | ) | (11.5 | ) | (10.0 | ) | ||||||||||
Income before taxes and equity in income of unconsolidated affiliates | 198.2 | 201.1 | 59.6 | 73.2 | ||||||||||||||
Provision for income taxes | 51.5 | (51.5 | ) | — | 20.6 | (20.6 | ) | — | ||||||||||
"Normalized" tax rate @ 35% | — | 71.4 | 71.4 | — | 26.7 | 26.7 | ||||||||||||
Equity in income of unconsolidated affiliates | (2.8 | ) | (2.8 | ) | (3.0 | ) | (3.0 | ) | ||||||||||
Net income | $ | 149.5 | $ | 132.5 | $ | 42.0 | $ | 49.5 | ||||||||||
Net income per share of common stock: | ||||||||||||||||||
Net income per share - basic | $ | 1.04 | $ | 0.92 | $ | 0.29 | $ | 0.35 | ||||||||||
Net income per share - diluted | $ | 1.02 | $ | 0.91 | $ | 0.29 | $ | 0.34 | ||||||||||
Average shares of stock outstanding - basic | 144.3 | 144.3 | 143.1 | 143.1 | ||||||||||||||
Average shares of stock outstanding - diluted | 146.0 | 146.0 | 145.1 | 145.1 | ||||||||||||||