Jarden Corp. reported a decline in sales in the second quarter at its Outdoor Solutions segment, which owns 21 sporting goods brands, including Coleman, ExOfficio, K2, Marmot, Zoot, Rawlings and Shakespeare.
JARDEN CORPORATION NET SALES AND OPERATING EARNINGS BY SEGMENT (Unaudited) (in millions) | ||||||||||||||||||||||||
Outdoor Solutions | Consumer Solutions | Branded Consumables | Process Solutions | Intercompany Eliminations (a) | Total Operating Segments | Corporate/ Unallocated | Consolidated | |||||||||||||||||
Three months ended June 30, 2013 | ||||||||||||||||||||||||
Net sales | $ | 741.1 | $ | 442.5 | $ | 488.3 | $ | 107.2 | $ | (20.3) | $ | 1,758.8 | $ | — | $ | 1,758.8 | ||||||||
Segment earnings (loss) | $ | 88.8 | $ | 61.7 | $ | 77.9 | $ | 16.7 | $ | — | $ | 245.1 | $ | (26.0) | $ | 219.1 | ||||||||
Adjustments to reconcile to reported operating earnings(loss): | ||||||||||||||||||||||||
Reorganization costs | — | (1.4) | — | — | — | (1.4) | — | (1.4) | ||||||||||||||||
Depreciation and amortization | (13.9) | (7.7) | (13.1) | (2.8) | — | (37.5) | (1.0) | (38.5) | ||||||||||||||||
Operating earnings (loss) | $ | 74.9 | $ | 52.6 | $ | 64.8 | $ | 13.9 | $ | — | $ | 206.2 | $ | (27.0) | $ | 179.2 |
Outdoor Solutions | Consumer Solutions | Branded Consumables | Process Solutions | Intercompany Eliminations (a) | Total Operating Segments | Corporate/ Unallocated | Consolidated | |||||||||||||||||
Three months ended June 30, 2012 | ||||||||||||||||||||||||
Net sales | $ | 747.3 | $ | 403.0 | $ | 439.1 | $ | 103.3 | $ | (17.1) | $ | 1,675.6 | $ | — | $ | 1,675.6 | ||||||||
Segment earnings (loss) | $ | 95.7 | $ | 53.4 | $ | 68.6 | $ | 14.4 | $ | — | $ | 232.1 | $ | (20.5) | $ | 211.6 | ||||||||
Adjustments to reconcile to reported operating earnings(loss): | ||||||||||||||||||||||||
Depreciation and amortization | (10.4) | (8.6) | (11.6) | (3.7) | — | (34.3) | (1.0) | (35.3) | ||||||||||||||||
Operating earnings (loss) | $ | 85.3 | $ | 44.8 | $ | 57.0 | $ | 10.7 | $ | — | $ | 197.8 | $ | (21.5) | $ | 176.3 | ||||||||
(a) Intersegment sales are recorded at cost plus an agreed-upon intercompany profit on intersegment sales. |
JARDEN CORPORATION NET SALES AND OPERATING EARNINGS BY SEGMENT (Unaudited) (in millions) | ||||||||||||||||||||||||
Outdoor Solutions | Consumer Solutions | Branded Consumables | Process Solutions | Intercompany Eliminations (a) | Total Operating Segments | Corporate/ Unallocated | Consolidated | |||||||||||||||||
Six months ended June 30, 2013 | ||||||||||||||||||||||||
Net sales | $ | 1,436.0 | $ | 805.8 | $ | 932.0 |