EX-99.3 4 a08-8302_2ex99d3.htm EX-99.3

Exhibit 99.3

 

PLIANT CORPORATION

Reconciliation of income from continuing operations before income taxes and EBITDAR

 

 

 

Pro Forma

 

 

 

 

 

 

 

 

 

12 Months Ended

 

12 Months Ended

 

12 Months Ended

 

12 Months Ended

 

Amounts in $ millions

 

December 31, 2008

 

December 31, 2007

 

December 31, 2006

 

December 31, 2005

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations before income taxes

 

$

(19.1

)

$

(15.1

)

$

185.1

 

$

(109.8

)

 

 

 

 

 

 

 

 

 

 

Add back:

 

 

 

 

 

 

 

 

 

Depreciation and amortization

 

43.5

 

44.9

 

40.6

 

40.5

 

Interest

 

82.1

 

87.2

 

79.9

 

155.1

 

Restructuring and other costs

 

6.6

 

9.9

 

(0.7

)

2.4

 

Reorganization costs

 

—

 

1.1

 

82.4

 

3.8

 

Impairment of goodwill and intangible assets

 

—

 

—

 

110.0

 

—

 

Impairment of fixed assets

 

—

 

—

 

0.3

 

—

 

Other operating costs

 

—

 

1.1

 

—

 

—

 

Gain on extinguishment of debt

 

—

 

(32.5

)

(393.7

)

—

 

EBITDA(R) or Segment profit

 

$

113.1

 

$

96.6

 

$

103.9

 

$

92.0