EX-99.2 3 dex992.htm RECONCILIATION OF NON-GAAP FINANCIAL MEASURES RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

Exhibit 99.2

 

LOGO   

JARDEN CORPORATION

Reconciliation of GAAP to NON GAAP

 

 

     Three months ended    Six months ended
(in millions)    June 30, 2010     June 30, 2009    June 30, 2010     June 30, 2009

Reconciliation of Non-GAAP measure:

         

Net income (loss)

     38.4        44.9    $ (20.6   $ 53.8

Income tax provision

     37.1        26.0      27.2        32.6

Interest expense, net

     43.9        38.8      84.1        75.0

Depreciation and amortization

     35.6        31.3      66.5        61.7
                             

Earnings before interest, taxes, depreciation and amortization (EBITDA)

     155.0        141.0      157.2        223.1

Other adjustments:

         

Reorganization, acquisition-related integration costs, net

     —          5.6      —          15.0

Transactions related items

     (6.6     —        14.5        —  

Venezuela hyperinflationary and devaluation charge

     —          —        78.1        —  

Impairment of goodwill and other intangibles

     18.3        —        18.3        —  

Fair value adjustment to inventory

     25.3        —        25.3        —  
                             

As Adjusted EBITDA

   $ 192.0      $ 146.6    $ 293.4      $ 238.1
                             

Organic net sales growth is a non-GAAP measure of net sales growth excluding the impacts of foreign exchange and the Mapa Spontex acquisition from year over year comparisons. The Company believes this measure provides investors with a more complete understanding of the underlying sales trends by providing net sales on a consistent basis. Organic net sales growth is also one of the measures used by management to analyze operating performance. The following table provides a reconciliation of organic net sales growth for the three months ended June 30, 2010:

 

      Outdoor
Solutions
    Consumer
Solutions
    Branded
Consumables
    Process
Solutions
    Elimination     Consolidated  

Reconciliation of Non-GAAP measure:

            

Net sales growth

   9.1   2.4   89.5   43.7   10.0   21.9

Foreign exchange impacts

   (0.6 )%    3.3   (0.9 )%    0.3   0.0   0.6

Less: Mapa Spontex acquisition

   0.0   0.0   (86.2 )%    0.0   0.0   (13.8 )% 
                                    

Organic net sales growth

   8.5   5.7   2.4   44.0   10.0   8.7