EX-99.3 4 ex993-063018lpxisreconcili.htm EXHIBIT 99.3 - IS RECONCILIATION Exhibit



Exhibit 99.3 Reconciliation of Adjusted income from continuing operations
(Dollar amounts in millions, except per share amounts)
Quarter Ended
 
June 30, 2018
 
March 31, 2018
 
June 30, 2017
Net income
162.7

 
90.9

 
94.5

Add (deduct):
 
 
 
 
 
Loss from discontinued operations
0.2

 
4.0

 
—

Gain on sale or impairment of long-lived assets, net
—

 
(0.6
)
 
(3.1
)
Other operating credits and charges, net
(4.5
)
 
(0.4
)
 
2.0

Reported tax provision
51.2

 
29.7

 
36.0

Normalized tax provision at 25% for 2018 and 35% for 2017
(52.4
)
 
(30.9
)
 
(45.3
)
Adjusted income from continuing operations
$
157.2

 
$
92.7

 
$
84.1

Diluted shares outstanding
146.2

 
146.7

 
146.2

Adjusted income from continuing operations per diluted share
$
1.08

 
$
0.63

 
$
0.58


(Dollar amounts in millions, except per share amounts)
Six Months Ended
 
June 30, 2018
 
June 30, 2017
Net income
253.6

 
149.5

Add (deduct):
 
 
 
Loss from discontinued operations
4.2

 
—

Gain on sale or impairment of long-lived assets, net
(0.6
)
 
(2.5
)
Other operating credits and charges, net
(4.9
)
 
5.4

Reported tax provision
80.9

 
51.5

Normalized tax provision at 25% for 2018 and 35% for 2017
(83.3
)
 
(71.4
)
Adjusted income from continuing operations
$
249.9

 
$
132.5

Diluted shares outstanding
146.4

 
146.0

Adjusted income from continuing operations per diluted share
$
1.71

 
$
0.91