dean foods Reconciliation Charts

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dean foods Reconciliation Charts

  1. 1. Non- GAAP Financial Information Certain non-GAAP financial measures contained in the Dean Foods 2009 Investor Day presentation, including adjusted diluted earnings per share, free cash flow, consolidated adjusted operating income and consolidated adjusted net income, have been adjusted to eliminate the net expense or net gain related to certain items identified in our press releases. A full reconciliation of these measures calculated according to GAAP and on an adjusted basis is contained in the press releases for the respective financial statement periods, which are publicly available on our web site at www.deanfoods.com/investors.
  2. 2. Reconciliations Reconciliation of GAAP to Non-GAAP Financial Measures (dollars in thousands*) Reconciliation of GAAP to adjusted operating income 2008 2007 2006 2005 2004 2003 2002 GAAP operating income $ 608,690 $ 553,597 $ 650,695 $ 580,096 $ 535,745 $ 573,683 $ 475,906 Adjustments: Facility closings, reorganizations and other costs 22,758 36,109 25,116 38,599 24,576 11,766 19,050 Gain on sale of frozen pre-whipped topping business (68,700) Litigation settlement (5,900) Adjusted operating income $ 631,448 $ 589,706 $ 675,811 $ 618,695 $ 554,421 $ 516,749 $ 494,956 Reconciliation of GAAP to adjusted net income 2008 2007 2006 2005 2004 2003 2002 GAAP net income from continuing operations $ 184,840 $ 130,462 $ 280,263 $ 256,650 $ 206,207 $ 236,188 $ 155,028 Adjustments, net of tax: Facility closings, reorganizations and other costs 14,037 21,965 15,447 23,963 14,933 7,259 11,852 Gain on sale of frozen pre-whipped topping business (42,100) Litigation settlement (3,800) Investment in Consolidated Container 6,300 Favorable tax settlement (6,600) Debt refinancing and special dividend costs 353 12,036 - - 21,200 - Adjusted net income from continuing operations $ 199,230 $ 164,463 $ 295,710 $ 280,613 $ 238,540 $ 201,347 $ 166,580
  3. 3. Reconciliations Computation of Free Cash Flow provided by operations 2008 2007 2006 2005 2004 Net cash provided by continuing $719,258 $350,250 $561,552 $541,938 $413,615 operations Additions to property, plant and equipment (256,965) (241,448) (237,242) (287,129) (301,186) Free cash flow provided by continuing operations $462,293 $108,802 $324,310 $254,809 $112,429

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