EX-99.2 3 dex992.htm RECONCILIATION OF EBITDA FROM CONTINUING OPERATIONS Reconciliation of EBITDA from continuing operations

Exhibit 99.2

 

(Dollar amounts in millions)    OSB     Siding    EWP     Other     Corporate     Total  

Quarter Ended March 31, 2009

             

Sales

   $ 72.3     $ 73.8    $ 30.0     $ 28.5     $ —       $ 204.6  
                                               

Depreciation and amortization

     7.2       4.7      3.0       3.2       1.0       19.1  

Cost of sales and selling and administrative

     86.8       67.0      36.0       23.8       18.1       231.7  

(Gain) loss on sale or impairment of long lived assets

     —         —        —         —         0.1       0.1  

Other operating credits and charges, net

     —         —        —         —         (3.8 )     (3.8 )
                                               

Total operating costs

     94.0       71.7      39.0       27.0       15.4       247.1  
                                               

Income (loss) from operations

     (21.7 )     2.1      (9.0 )     1.5       (15.4 )     (42.5 )

Total non-operating income (expense)

              (4.3 )     (4.3 )

Income (loss) before income taxes and equity in earnings of unconsolidated affiliates

     (21.7 )     2.1      (9.0 )     1.5       (19.7 )     (46.8 )

Provision (benefit) for income taxes

              (19.2 )     (19.2 )

Equity in (income) loss of unconsolidated affiliates

     2.5          0.2       (0.1 )       2.6  
                                               

Income (loss) from continuing operations

   $ (24.2 )   $ 2.1    $ (9.2 )   $ 1.6     $ (0.5 )   $ (30.2 )
                                               

Reconciliation of net loss from continuing operations to EBITDA

             

Income (loss) from continuing operations

   $ (24.2 )   $ 2.1    $ (9.2 )   $ 1.6     $ (0.5 )   $ (30.2 )

Income tax expense

     —         —        —         —         (19.2 )     (19.2 )

Interest expense, net of capitalized interest

     —         —        —         —         11.8       11.8  

Depreciation and amortization

     7.2       4.7      3.0       3.2       1.0       19.1  
                                               

EBITDA

   $ (17.0 )   $ 6.8    $ (6.2 )   $ 4.8     $ (6.9 )   $ (18.5 )
                                               

Quarter Ended March 31, 2008

             

Sales

   $ 159.0     $ 107.1    $ 60.5     $ 22.8     $ —       $ 349.4  
                                               

Depreciation and amortization

     14.1       5.8      3.9       1.4       1.4       26.6  

Cost of sales and selling and administrative

     201.7       101.0      64.4       23.0       22.8       412.9  

(Gain) loss on sale or impairment of long lived assets

              (0.4 )     (0.4 )

Other operating credits and charges, net

              (4.0 )     (4.0 )
                                               

Total operating costs

     215.8       106.8      68.3       24.4       19.8       435.1  
                                               

Loss from operations

     (56.8 )     0.3      (7.8 )     (1.6 )     (19.8 )     (85.7 )

Total non-operating income (expense)

              10.2       10.2  

Income (loss) before income taxes and equity in earnings of unconsolidated affiliates

     (56.8 )     0.3      (7.8 )     (1.6 )     (9.6 )     (75.5 )

Provision (benefit) for income taxes

              (35.9 )     (35.9 )

Equity in (income) loss of unconsolidated affiliates

     5.3          0.3       0.7         6.3  
                                               

Income (loss) from continuing operations

   $ (62.1 )   $ 0.3    $ (8.1 )   $ (2.3 )   $ 26.3     $ (45.9 )
                                               

Reconciliation of net loss to EBITDA

             

Income (loss) from continuing operations

   $ (62.1 )   $ 0.3    $ (8.1 )   $ (2.3 )   $ 26.3     $ (45.9 )

Income tax expense

              (35.9 )     (35.9 )

Interest expense, net of capitalized interest

              11.2       11.2  

Depreciation and amortization

     14.1       5.8      3.9       1.4       1.4       26.6  
                                               

EBITDA

   $ (48.0 )   $ 6.1    $ (4.2 )   $ (0.9 )   $ 3.0     $ (44.0 )