EX-99.2 3 dex992.htm RECONCILIATION OF NON-GAAP FINANCIAL MEASURES Reconciliation of non-GAAP financial measures

 

Exhibit 99.2

JARDEN CORPORATION

Reconciliation of GAAP to NON GAAP

For the nine months ended September 30, 2010 and 2009

 

      Three months ended      Nine months ended  
(in millions)    September 30,
2010
     September 30,
2009
     September 30,
2010
     September 30,
2009
 

Reconciliation of Non-GAAP measure:

           

Net income

     80.6         73.7       $ 60.0       $ 127.5   

Income tax provision

     49.3         45.9         76.5         78.5   

Interest expense, net

     46.2         35.2         130.3         110.2   

Depreciation and amortization

     36.5         32.7         103.0         94.4   
                                   

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

     212.6         187.5         369.8         410.6   

Other adjustments:

           

Reorganization and acquisition-related integration costs, net

     —           4.3         —           19.3   

Transaction costs

     —           —           14.5         —     

Venezuela hyperinflationary and devaluation charges

     —           —           78.1         —     

Impairment of goodwill and other intangible assets

     0.7         —           19.0         —     

Fair value adjustment to inventory

     —           —           25.3         —     
                                   

As Adjusted EBITDA

   $ 213.3       $ 191.8       $ 506.7       $ 429.9   
                                   

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 September 30, 2010:

 

    Outdoor
Solutions
    Consumer
Solutions
    Branded
Consumables
    Process
Solutions
    Elimination     Consolidated  

Reconciliation of Non-GAAP measure:

           
Net sales growth       6.9       4.6     75.0     37.3     31.7     18.5

Foreign exchange impacts

    1.1     3.4     (0.2 %)      0.7     —       1.7
Less: Mapa Spontex acquisition     —       —       (77.7 %)      —       —       (12.9 %) 
                                               
Organic net sales growth     8.0     8.0     (2.9 %)      38.0     31.7     7.3