Sunbeam 2002 Annual Report Download - page 13

Jarden Corporation
Selected Financial Data (Continued)
As of and for the year ended December 31,
2002
(a) (b)
2001
(c)
2000
(d)
1999
(e)
1998
(f)
(in thousands)
OTHER FINANCIAL DATA:
EBITDA (i) ........................ $ 75,110 $ 32,734 $ 40,673 $ 58,493 $ 42,012
Cash flows from operations .......... 69,551 39,857 19,144 22,324 27,388
Depreciation and amortization ....... 10,001 18,797 21,311 17,697 10,548
Capital expenditures ................ 9,277 9,707 13,637 16,628 11,909
BALANCE SHEET DATA:
Cash and cash equivalents ........... $ 56,779 $ 6,376 $ 3,303 $ 17,394 $ 21,454
Working capital .................... 101,557 8,035 22,975 54,611 46,923
Total assets ....................... 366,765 162,234 310,429 340,364 166,974
Total debt ......................... 216,955 84,875 137,060 140,761 25,715
Total stockholders’ equity ............ 76,764 35,129 118,221 123,025 94,893
(a) The results of Tilia are included from April 1, 2002.
(b) 2002 includes a net release of a $4.4 million tax valuation allowance. Adjusting for the net release of the valuation allowance, the
Company’s diluted earnings per share for 2002 would have been $2.22.
(c) 2001 includes a $121.1 million pretax loss on the sale of thermoforming assets, a $2.3 million pretax charge associated with corporate
restructuring, a $1.4 million pretax loss on the sale of the Company’s interest in Microlin, LLC, $2.6 million of pretax separation costs
related to the management reorganization, $1.4 million of pretax costs to evaluate strategic options, $1.4 million of pretax costs to
exit facilities, a $2.4 million pretax charge for stock option compensation, $4.1 million of pretax income associated with the discharge
of deferred compensation obligations and a $1.0 million pretax gain related to an insurance recovery.
(d) 2000 includes $1.6 million of pretax income associated with the reduction in long-term performance-based compensation, $1.4
million in pretax litigation charges, net of recoveries and $0.6 million of pretax costs to evaluate strategic options.
(e) 1999 includes a $19.7 million pretax gain on the sale of the plastic packaging product line and a $2.3 million pretax charge to exit
a plastic thermoforming facility.
(f) 1998 includes a $1.3 million pretax charge to exit a plastic injection molding facility.
(g) Special charges (credits) and reorganization expenses were comprised of costs to evaluate strategic options, discharge of deferred
compensation obligations, separation costs for former officers, stock option compensation, corporate restructuring costs, costs to exit
facilities, reduction of long-term performance based compensation, litigation charges and items related to our divested thermoforming
operations.
(h) All earnings per share amounts have been adjusted to give effect to a 2-for-1 split of our outstanding shares of common stock that
was effected during the second quarter of 2002.
(i) ‘‘EBITDA’’ is calculated as operating income (loss) plus (i) depreciation and amortization, (ii) special charges (credits) and
reorganization expenses and (iii) loss (gain) on divestiture of assets and product lines. EBITDA is not intended to represent cash flow
from operations as defined by accounting principles generally accepted in the United States and should not be used as an alternative
to net income as an indicator of operating performance or to cash flow as a measure of liquidity. EBITDA is included in this Form 10-K
because it is a basis upon which our management assesses financial performance. While EBITDA is frequently used as a measure of
operations and the ability to meet debt service requirements, it is not necessarily comparable to other similarly titled captions of other
companies due to potential inconsistencies in the method of calculation.
Quarterly Stock Prices
The table below sets forth the high and low sales prices of our common stock as reported on the New York
Stock Exchange for the periods indicated. All prices have been adjusted to reflect the 2-for-1 stock split that
occurred during the second quarter of 2002: First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
2002
High ....................................... $15.00 $19.96 $27.46 $27.70
Low ....................................... $ 7.57 $13.25 $18.35 $20.00
2001
High ....................................... $ 7.56 $ 8.07 $ 6.51 $ 8.02
Low ....................................... $ 6.15 $ 5.82 $ 5.35 $ 5.65
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