Temple-Inland Inc. (NYSE:TIN) today reported second quarter 2010 net
income of $20 million, or $0.18 per diluted share, compared with a first
quarter 2010 net loss of $4 million, or $0.04 per diluted share, and
second quarter 2009 net income of $66 million, or $0.61 per diluted
share. Second quarter 2010 net income excluding special items was $21
million, or $0.19 per diluted share.
|
| Second Quarter | First Quarter |
| | |
| |
| |
| | 2010 | | 2009 |
| | 2010 |
|
| | | | | |
|
|
Net income per share
| |
$0.18
| |
$0.61
| | |
($0.04
|
)
|
|
Adjustment for special items
| |
$0.01
| |
($0.37
|
)
| |
$0.03
|
|
Net income per share, excluding special items
| |
$0.19
| |
$0.24
| | |
($0.01
|
)
|
Doyle R. Simons, chairman and chief executive officer of Temple-Inland
Inc., said, ¿In Corrugated Packaging, we realized the benefit of the
January linerboard price increase in the quarter. However, the price
increase benefit was partially offset by extended and unanticipated mill
outages and unprecedented low inventory levels that negatively affected
our financial performance in the quarter by approximately $20 million.
¿An extended maintenance outage at our Rome, Georgia, mill and
unscheduled outages of almost a week at our Maysville, Kentucky, and
Newport, Indiana, mills due to third party utility interruptions
negatively affected earnings in the quarter by approximately $11
million. The outages also affected inventories, which are at
unprecedented low levels and well below our practical minimum. As a
result, we were forced to make unscheduled outside purchases of
containerboard and incur additional freight costs, negatively affecting
earnings by an additional $9 million in the quarter.
¿In Building Products, we returned to solid profitability in the
quarter. In addition to higher prices, we benefited from our low cost
structure. Results in this quarter provide insight into the earnings
potential in this business.
¿Looking ahead, we are positioned for a strong second half of the year
in Corrugated Packaging as we will benefit from higher prices, box plant
transformation and less mill maintenance downtime. Housing markets
remain challenging, but we are well positioned in our Building Products
business.¿
Corrugated Packaging |
| | |
| | Second Quarter | First Quarter |
| | |
| |
| |
| | 2010 | | 2009 | | 2010 |
| | | | | |
|
|
Segment Operating Income (Millions)
| |
$
|
63
| |
$
|
91
| |
$
|
46
|
| | | | | | | | |
|
Earnings improved in second quarter 2010 compared with first quarter
2010 primarily due to higher prices which were partially offset by
increased downtime and related costs. Operating income declined in
second quarter 2010 compared with second quarter 2009 due primarily to
higher input costs.
Building Products |
| | |
| | Second Quarter | First Quarter |
| | |
| |
| |
| | 2010 | | 2009 | | 2010 |
| | | | | |
|
|
Segment Operating Income (Millions)
| |
$
|
15
| |
($3
|
)
| |
($9
|
)
|
| | | | | | | | |
|
Building Products operating results improved in second quarter 2010
compared with first quarter 2010 due to higher prices and volumes for
all our products. Operating results improved in second quarter 2010
compared with second quarter 2009 due to higher lumber prices and higher
volume for all our products.
Other
Special items in the quarter were primarily an after-tax charge of $1
million related to facility closures in connection with Box Plant
Transformation II.
Temple-Inland will host a conference call on July 27, 2010, at 10:00 am
ET to discuss results of second quarter 2010. To access the conference
call, listeners calling from the United States and Canada should dial
1-866-394-6665 at least 15 minutes prior to the start of the call. The
passcode for the conference call is: 80872111. Those wishing to access
the call from outside the United States and Canada should dial
1-706-634-1667 and use the same passcode as set forth above. Replays of
the call will be available for two weeks following completion of the
live call and can be accessed at 1-800-642-1687 in the United States and
Canada and at 1-706-645-9291 outside the United States and Canada. The
passcode for the replay is: 80872111.
Temple-Inland Inc. is a manufacturing company focused on corrugated
packaging and building products. The fully integrated corrugated
packaging operation consists of 7 mills and 60 converting facilities.
The building products operation manufactures a diverse line of building
products for new home construction, commercial and repair and remodeling
markets. Temple-Inland's address on the World Wide Web is www.templeinland.com.
This release contains ¿forward-looking statements¿ within the meaning of
the federal securities laws. These statements reflect management¿s
current views with respect to future events and are subject to risk and
uncertainties. We note that a variety of factors and uncertainties could
cause our actual results to differ significantly from the results
discussed in the forward-looking statements. Factors and uncertainties
that might cause such differences include, but are not limited to:
general economic, market, or business conditions; the opportunities (or
lack thereof) that may be presented to us and that we may pursue;
fluctuations in costs and expenses including the costs of raw materials,
purchased energy, and freight; changes in interest rates; demand for new
housing; accuracy of accounting assumptions related to impaired assets,
pension and postretirement costs, contingency reserves and income taxes;
competitive actions by other companies; changes in laws or regulations;
our ability to execute certain strategic and business improvement
initiatives; the accuracy of certain judgments and estimates concerning
the integration of acquired operations; and other factors, many of which
are beyond our control. Except as required by law, we expressly disclaim
any obligation to publicly revise any forward-looking statements
contained in this report to reflect the occurrence of events after the
date of this report.
This release includes non-GAAP financial measures. The required
reconciliations to GAAP financial measures are included in this release.
|
| |
| |
TEMPLE-INLAND INC. AND SUBSIDIARIES
CONSOLIDATED EARNINGS AND SEGMENT RESULTS
(Preliminary and Unaudited)
|
| | | |
|
| | Second Quarter | | First Six Months |
| |
| 2010 |
|
|
| 2009 |
| |
| 2010 |
|
|
| 2009 |
|
| | (In millions, except per share) |
Revenues | | | | | | | | |
|
Corrugated packaging
| |
$
|
786
| | |
$
|
762
| | |
$
|
1,538
| | |
$
|
1,552
| |
|
Building products
| |
|
190
|
| |
|
144
|
| |
|
343
|
| |
|
295
|
|
|
Total revenues
| |
$
|
976
|
| |
$
|
906
|
| |
$
|
1,881
|
| |
$
|
1,847
|
|
| | | | | | | |
|
Income | | | | | | | | |
|
Corrugated packaging
| |
$
|
63
| | |
$
|
91
| | |
$
|
109
| | |
$
|
196
| |
|
Building products
| |
|
15
|
| |
|
(3
|
)
| |
|
6
|
| |
|
(5
|
)
|
|
Total segment operating income
| | |
78
| | | |
88
| | | |
115
| | | |
191
| |
|
Items not included in segments:
| | | | | | | | |
|
General and administrative expense
| | |
(19
|
)
| | |
(18
|
)
| | |
(37
|
)
| | |
(35
|
)
|
|
Share-based and long-term incentive compensation
| | |
(8
|
)
| | |
(17
|
)
| | |
(14
|
)
| | |
(26
|
)
|
|
Other operating income (expense)
| | |
(2
|
)
| | |
75
| | | |
(2
|
)
| | |
71
| |
|
Other non-operating income (expense)
| | |
¿¿
| | | |
(9
|
)
| | |
¿¿
| | | |
1
| |
|
Net interest income (expense) on financial assets and nonrecourse
financial liabilities of special purpose entities
| | |
(4
|
)
| | |
(1
|
)
| | |
(7
|
)
| | |
1
| |
|
Interest expense on debt
| |
|
(13
|
)
| |
|
(17
|
)
| |
|
(26
|
)
| |
|
(36
|
)
|
|
Income before taxes
| | |
32
| | | |
101
| | | |
29
| | | |
167
| |
|
Income tax expense
| |
|
(12
|
)
| |
|
(35
|
)
| |
|
(14
|
)
| |
|
(65
|
)
|
|
Net income
| | |
20
| | | |
66
| | | |
15
| | | |
102
| |
|
Net (income) loss attributable to noncontrolling interest of special
purpose entities
| |
|
¿¿
|
| |
|
¿¿
|
| |
|
1
|
| |
|
(1
|
)
|
|
Net income attributable to Temple-Inland Inc.
| |
$
|
20
|
| |
$
|
66
|
| |
$
|
16
|
| |
$
|
101
|
|
| | | | | | | |
|
|
Average basic shares outstanding
| | |
107.9
| | | |
106.7
| | | |
107.8
| | | |
106.7
| |
|
Average diluted shares outstanding
| | |
109.7
| | | |
107.8
| | | |
109.5
| | | |
107.2
| |
| | | | | | | |
|
Per share information: | | | | | | | | |
|
Basic earnings
| |
$
|
0.19
|
| |
$
|
0.62
|
| |
$
|
0.15
|
| |
$
|
0.95
|
|
|
Diluted earnings
| |
$
|
0.18
|
| |
$
|
0.61
|
| |
$
|
0.15
|
| |
$
|
0.94
|
|
|
Dividends
| |
$
|
0.11
|
| |
$
|
0.10
|
| |
$
|
0.22
|
| |
$
|
0.20
|
|
|
| |
| |
TEMPLE-INLAND INC. AND SUBSIDIARIES
SUMMARIZED CONSOLIDATED BALANCE SHEETS
(Preliminary and Unaudited)
|
| | | |
|
| | Second
Quarter-End
2010 | | Year-End
2009 |
| | (Dollars in millions) |
| ASSETS | | | | |
|
Current Assets
| |
$
|
1,060
| |
$
|
992
|
|
Property and Equipment
| | |
1,579
| | |
1,595
|
|
Financial Assets of Special Purpose Entities
| | |
2,474
| | |
2,475
|
|
Goodwill
| | |
394
| | |
394
|
|
Other Assets
| |
|
254
| |
|
253
|
| TOTAL ASSETS | |
$
|
5,761
| |
$
|
5,709
|
| | | |
|
| LIABILITIES | | | | |
|
Current Liabilities
| |
$
|
480
| |
$
|
471
|
|
Long-Term Debt
| | |
745
| | |
710
|
|
Nonrecourse Financial Liabilities of Special Purpose Entities
| | |
2,140
| | |
2,140
|
|
Deferred Tax Liability
| | |
730
| | |
721
|
|
Liability for Pension Benefits
| | |
284
| | |
285
|
|
Liability for Postretirement Benefits
| | |
103
| | |
105
|
|
Other Long-Term Liabilities
| |
|
379
| |
|
391
|
| TOTAL LIABILITIES | | |
4,861
| | |
4,823
|
| SHAREHOLDERS¿ EQUITY | | | | |
|
Temple-Inland Inc. Shareholders¿ Equity
| | |
809
| | |
794
|
|
Noncontrolling Interest of Special Purpose Entities
| |
|
91
| |
|
92
|
| TOTAL SHAREHOLDERS¿ EQUITY | |
|
900
| |
|
886
|
| TOTAL LIABILITIES AND SHAREHOLDERS¿ EQUITY | |
$
|
5,761
| |
$
|
5,709
|
|
| |
| |
TEMPLE-INLAND INC. AND SUBSIDIARIES
SUMMARIZED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Preliminary and Unaudited)
|
| | | |
|
| | Second Quarter | | First Six Months |
| | 2010 |
| 2009 | | 2010 |
| 2009 |
| | (In millions) |
| CASH PROVIDED BY (USED FOR) OPERATIONS | | | | | | | | | | | | |
|
Operations
| |
$
|
75
| (a) | |
$
|
150
| (a) (b) | |
$
|
127
| (a) | |
$
|
264
| | (a) (b) |
|
Working capital
| |
|
18
| | |
|
22
| | |
|
(33
|
)(c) | |
|
(12
|
)
|
|
| |
|
93
| | |
|
172
| | |
|
94
| | |
|
252
|
| |
| CASH PROVIDED BY (USED FOR) INVESTING | | | | | | | | | | | |
|
|
Capital expenditures
| | |
(52
|
)
| | |
(33
|
)
| | |
(85
|
)
| | |
(52
|
)
|
|
|
Other
| |
|
8
| | |
|
(7
|
)
| |
|
¿¿
| | |
|
(8
|
)
|
|
| |
|
(44
|
)
| |
|
(40
|
)
| |
|
(85
|
)
| |
|
(60
|
)
|
|
| CASH PROVIDED BY (USED FOR) FINANCING | | | | | | | | | | | | |
|
Cash dividends to shareholders
| | |
(12
|
)
| | |
(11
|
)
| | |
(23
|
)
| | |
(21
|
)
|
|
|
Net change in debt
| | |
(19
|
)
| | |
(108
|
)
| | |
35
| | | |
(148
|
)
|
|
|
Other
| |
|
1
| | |
|
(8
|
)
| |
|
(10
|
)
| |
|
(34
|
)
|
|
| |
|
(30
|
)
| |
|
(127
|
)
| |
|
2
| | |
|
(203
|
)
|
|
|
Effect of exchange rate changes on cash and cash equivalents
| |
|
¿¿
| | |
|
2
| | |
|
1
| | |
|
1
|
| |
|
Net increase (decrease) in cash and cash equivalents
| | |
19
| | | |
7
| | | |
12
| | | |
(10
|
)
|
|
|
Cash and cash equivalents at beginning of period
| |
|
29
| | |
|
24
| | |
|
36
| | |
|
41
|
| |
|
Cash and cash equivalents at end of period
| |
$
|
48
| | |
$
|
31
| | |
$
|
48
| | |
$
|
31
|
| |
| | | | | | | | | | | |
|
| SUPPLEMENTAL INFORMATION | | | | | | | | | | | | |
|
Depreciation and amortization
| |
$
|
48
| | |
$
|
50
| | |
$
|
96
| | |
$
|
101
| | |
|
_____________
|
| (a) Includes $15 million of voluntary, discretionary
contributions to our defined benefit plan in second quarter and
first six months 2010 and 2009.
|
| (b) Includes $63 million of alternative fuel mixture
credits, net of related costs and tax payments, in second quarter
and first six months 2009.
|
| (c) Includes $14 million of alternative fuel mixture
credits that were accrued at year-end 2009.
|
|
| |
| |
| |
| |
| |
TEMPLE-INLAND INC. AND SUBSIDIARIES
SUMMARIZED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Preliminary and Unaudited)
|
| | | | | | | | | |
|
| | Second | | First | | Fourth | | Third | | Second |
| | Quarter | | Quarter | | Quarter | | Quarter | | Quarter |
| | 2010 | | 2010 | | 2009 | | 2009 | | 2009 |
| | (In millions) |
| CASH PROVIDED BY (USED FOR) OPERATIONS | | | | | | | | | | | | | | | |
|
Operations
| |
$
|
75
| (a) | |
$
|
52
| | |
$
|
125
| (c) | |
$
|
160
| (a) (c) | |
$
|
150
| (a) (c) |
|
Working capital
| |
|
18
| | |
|
(51
|
) (b) | |
|
75
| (d) | |
|
28
| | |
|
22
| |
| |
|
93
| | |
|
1
| | |
|
200
| | |
|
188
| | |
|
172
| |
| CASH PROVIDED BY (USED FOR) INVESTING | | | | | | | | | | | | | | | |
|
Capital expenditures
| | |
(52
|
)
| | |
(33
|
)
| | |
(49
|
)
| | |
(29
|
)
| | |
(33
|
)
|
|
Other
| |
|
8
| | |
|
(8
|
)
| |
|
8
| | |
|
4
| | |
|
(7
|
)
|
| |
|
(44
|
)
| |
|
(41
|
)
| |
|
(41
|
)
| |
|
(25
|
)
| |
|
(40
|
)
|
| CASH PROVIDED BY (USED FOR) FINANCING | | | | | | | | | | | | | | | |
|
Cash dividends to shareholders
| | |
(12
|
)
| | |
(11
|
)
| | |
(11
|
)
| | |
(11
|
)
| | |
(11
|
)
|
|
Net change in debt
| | |
(19
|
)
| | |
54
| | | |
(168
|
)
| | |
(151
|
)
| | |
(108
|
)
|
|
Other
| |
|
1
| | |
|
(11
|
)
| |
|
13
| | |
|
11
| | |
|
(8
|
)
|
| |
|
(30
|
)
| |
|
32
| | |
|
(166
|
)
| |
|
(151
|
)
| |
|
(127
|
)
|
|
Effect of exchange rate changes on cash and cash equivalents
| |
|
¿¿
| | |
|
1
| | |
|
1
| | |
|
(1
|
)
| |
|
2
| |
|
Net increase (decrease) in cash and cash equivalents
| | |
19
| | | |
(7
|
)
| | |
(6
|
)
| | |
11
| | | |
7
| |
|
Cash and cash equivalents at beginning of period
| |
|
29
| | |
|
36
| | |
|
42
| | |
|
31
| | |
|
24
| |
|
Cash and cash equivalents at end of period
| |
$
|
48
| | |
$
|
29
| | |
$
|
36
| | |
$
|
42
| | |
$
|
31
| |
| | | | | | | | | | | | | | |
|
| SUPPLEMENTAL INFORMATION | | | | | | | | | | | | | | | |
|
Depreciation and amortization
| |
$
|
48
| | |
$
|
48
| | |
$
|
49
| | |
$
|
50
| | |
$
|
50
| |
|
_____________
|
| (a) Includes $15 million of voluntary, discretionary
contribution to our defined benefit plan in second quarter 2010,
third and second quarter 2009.
|
| (b) Includes $14 million alternative fuel mixture tax
credits that were accrued at year-end 2009.
|
| (c) Includes alternative fuel mixture tax credits, net of
related costs and tax payments, of $54 million in fourth quarter
2009, $58 million in third quarter 2009, and $63 million in second
quarter 2009.
|
| (d) Includes a $58 million federal income tax refund.
|
|
| |
| |
TEMPLE-INLAND INC. AND SUBSIDIARIES
REVENUES AND UNIT SALES, EXCLUDING JOINT VENTURE OPERATIONS
(Preliminary and Unaudited)
|
| | | |
|
| | Second Quarter | | First Six Months |
| | 2010 |
| 2009 | | 2010 |
| 2009 |
| Revenues | | (Dollars in millions) |
| Corrugated packaging | | | | | | | | |
|
Corrugated packaging
| |
$
|
738
| |
$
|
727
| |
$
|
1,449
| |
$
|
1,478
|
|
Paperboard (a) | |
|
48
| |
|
35
| |
|
89
| |
|
74
|
|
Total corrugated packaging
| |
$
|
786
| |
$
|
762
| |
$
|
1,538
| |
$
|
1,552
|
| Building products | | | | | | | | |
|
Lumber
| |
$
|
71
| |
$
|
45
| |
$
|
121
| |
$
|
91
|
|
Gypsum wallboard
| | |
40
| | |
33
| | |
73
| | |
71
|
|
Particleboard
| | |
38
| | |
35
| | |
74
| | |
73
|
|
Medium density fiberboard
| | |
21
| | |
15
| | |
39
| | |
33
|
|
Fiberboard
| | |
9
| | |
7
| | |
16
| | |
10
|
|
Other
| |
|
11
| |
|
9
| |
|
20
| |
|
17
|
|
Total building products
| |
$
|
190
| |
$
|
144
| |
$
|
343
| |
$
|
295
|
| Unit Sales | | | | | | | | |
| Corrugated packaging | | | | | | | | |
|
Corrugated packaging, thousands of tons
| | |
838
| | |
836
| | |
1,684
| | |
1,665
|
|
Paperboard, thousands of tons (a) | |
|
95
| |
|
86
| |
|
186
| |
|
175
|
|
Total, thousands of tons
| |
|
933
| |
|
922
| |
|
1,870
| |
|
1,840
|
| Building products | | | | | | | | |
|
Lumber, mbf
| | |
205
| | |
184
| | |
363
| | |
372
|
|
Gypsum wallboard, msf
| | |
326
| | |
259
| | |
632
| | |
542
|
|
Particleboard, msf
| | |
110
| | |
99
| | |
217
| | |
206
|
|
Medium density fiberboard, msf
| | |
36
| | |
31
| | |
71
| | |
65
|
|
Fiberboard, msf
| | |
45
| | |
37
| | |
79
| | |
54
|
____________
| (a) |
|
Paperboard includes containerboard and light-weight gypsum facing
paper.
|
|
| |
| |
| |
TEMPLE-INLAND INC. AND SUBSIDIARIES
CALCULATION OF NON-GAAP FINANCIAL MEASURES
(Preliminary and Unaudited)
|
| | | | | |
|
| | Second Quarter | | First Quarter | | First Six Months |
| |
| 2010 |
|
|
| 2009 |
| |
| 2010 |
| |
| 2010 |
|
|
| 2009 |
|
| | (In millions, except per share) |
NET INCOME (LOSS) EXCLUDING SPECIAL
ITEMS | | | | | | | | | | |
|
Net income (loss) in accordance with GAAP
| |
$
|
20
|
| |
$
|
66
|
| |
$
|
(4
|
)
| |
$
|
16
|
| |
$
|
101
|
|
|
Special items, after-tax:
| | | | | | | | | | |
|
Alternative fuel mixture tax credits, net of costs
| | |
¿¿
| | | |
47
| | | |
7
| | | |
7
| | | |
47
| |
|
Facility closures and headcount reductions
| | |
(1
|
)
| | |
(1
|
)
| | |
(7
|
)
| | |
(8
|
)
| | |
(3
|
)
|
|
Litigation and other
| | |
¿¿
| | | |
¿¿
| | | |
¿¿
| | | |
¿¿
| | | |
(1
|
)
|
|
Substitution costs
| | |
¿¿
| | | |
(11
|
)
| | |
¿¿
| | | |
¿¿
| | | |
(11
|
)
|
|
Gain (loss) on purchase and retirement of debt
| | |
¿¿
| | | |
5
| | | |
¿¿
| | | |
¿¿
| | | |
11
| |
|
One-time tax expense due to the impact of Patient Protection and
Affordable Care Act on the Medicare Part D retiree drug subsidy
program
| |
|
¿¿
|
| |
|
¿¿
|
| |
|
(3
|
)
| |
|
(3
|
)
| |
|
¿¿
|
|
|
Total special items, after-tax
| |
|
(1
|
)
| |
|
40
|
| |
|
(3
|
)
| |
|
(4
|
)
| |
|
43
|
|
|
Net income (loss), excluding special items
| |
$
|
21
|
| |
$
|
26
|
| |
$
|
(1
|
)
| |
$
|
20
|
| |
$
|
58
|
|
| | | | | | | | | |
|
|
Net income (loss), per share, in accordance with GAAP
| |
$
|
0.18
|
| |
$
|
0.61
|
| |
$
|
(0.04
|
)
| |
$
|
0.15
|
| |
$
|
0.94
|
|
|
Special items, after-tax, per share:
| | | | | | | | | | |
|
Alternative fuel mixture tax credits, net of costs
| | |
¿¿
| | | |
0.43
| | | |
0.07
| | | |
0.07
| | | |
0.43
| |
|
Facility closures and headcount reductions
| | |
(0.01
|
)
| | |
(0.01
|
)
| | |
(0.07
|
)
| | |
(0.08
|
)
| | |
(0.03
|
)
|
|
Litigation and other
| | |
¿¿
| | | |
¿¿
| | | |
¿¿
| | | |
¿¿
| | | |
(0.01
|
)
|
|
Substitution costs
| | |
¿¿
| | | |
(0.10
|
)
| | |
¿¿
| | | |
¿¿
| | | |
(0.10
|
)
|
|
Gain (loss) on purchase and retirement of debt
| | |
¿¿
| | | |
0.05
| | | |
¿¿
| | | |
¿¿
| | | |
0.11
| |
One-time tax expense due to the impact of Patient Protection and
Affordable Care Act on the Medicare Part D retiree drug subsidy
program
| |
|
¿¿
|
| |
|
¿¿
|
| |
|
(0.03
|
)
| |
|
(0.03
|
)
| |
|
¿¿
|
|
|
Total special items, after-tax
| |
|
(0.01
|
)
| |
|
0.37
|
| |
|
(0.03
|
)
| |
|
(0.04
|
)
| |
|
0.40
|
|
|
Net income (loss), per share, excluding special items
| |
$
|
0.19
|
| |
$
|
0.24
|
| |
$
|
(0.01
|
)
| |
$
|
0.19
|
| |
$
|
0.54
|
|
| | | | | | | | | |
|
|
Average basic shares outstanding
| | |
107.9
| | | |
106.7
| | | |
107.7
| | | |
107.8
| | | |
106.7
| |
|
Average diluted shares outstanding
| | |
109.7
| | | |
107.8
| | | |
109.2
| | | |
109.5
| | | |
107.2
| |
| | | | | | | | | |
|
Building products EBITDA | | | | | | | | | | |
|
Segment operating income (loss) determined in
accordance with GAAP
| |
$
|
15
| | |
$
|
(3
|
)
| |
$
|
(9
|
)
| |
$
|
6
| | |
$
|
(5
|
)
|
|
Depreciation and amortization
| |
|
10
|
| |
|
11
|
| |
|
11
|
| |
|
21
|
| |
|
23
|
|
|
Building products EBITDA
| |
$
|
25
|
| |
$
|
8
|
| |
$
|
2
|
| |
$
|
27
|
| |
$
|
18
|
|
