INVESTOR PRESENTATION
SEPTEMBER 2013
Exhibit 99.1

DISCLAIMER
2
This
Investor
Presentation
contains
forward-looking
statements.
James
Hardie
may
from
time
to
time
make
forward-looking
statements
in
its
periodic
reports
filed
with
or
furnished
to
the
SEC,
on
Forms
20-F
and
6-K,
in
its
annual
reports
to
shareholders,
in
offering
circulars,
invitation
memoranda
and
prospectuses,
in
media
releases
and
other
written
materials
and
in
oral
statements
made
by
the
company’s
officers,
directors
or
employees
to
analysts,
institutional
investors,
existing
and
potential
lenders,
representatives
of
the
media
and
others.
Statements
that
are
not
historical
facts
are
forward-looking
statements
and
such
forward-looking
statements
are
statements
made
pursuant
to
the
Safe
Harbor
Provisions
of
the
Private
Securities
Litigation
Reform
Act
of
1995.
Examples
of
forward-looking
statements
include:
Words
such
as
“believe,”
“anticipate,”
“plan,”
“expect,”
“intend,”
“target,”
“estimate,”
“project,”
“predict,”
“forecast,”
“guideline,”
“aim,”
“will,”
“should,”
“likely,”
“continue,”
“may,”
“objective,”
“outlook”
and
similar
expressions
are
intended
to
identify
forward-looking
statements
but
are
not
the
exclusive
means
of
identifying
such
statements.
Readers
are
cautioned
not
to
place
undue
reliance
on
these
forward-looking
statements
and
all
such
forward-looking
statements
are
qualified
in
their
entirety
by
reference
to
the
following
cautionary
statements.
Forward-looking
statements
are
based
on
the
company’s
current
expectations,
estimates
and
assumptions
and
because
forward-looking
statements
address
future
results,
events
and
conditions,
they,
by
their
very
nature,
involve
inherent
risks
and
uncertainties,
many
of
which
are
unforeseeable
and
beyond
the
company’s
control.
Such
known
and
unknown
risks,
uncertainties
and
other
factors
may
cause
actual
results,
performance
or
other
achievements
to
differ
materially
from
the
anticipated
results,
performance
or
achievements
expressed,
projected
or
implied
by
these
forward-looking
statements.
These
factors,
some
of
which
are
discussed
under
“Risks
Factors”
in
Section
3
of
the
Form
20-F
filed
with
the
Securities
and
Exchange
Commission
on
27
June
2013,
include,
but
are
not
limited
to:
all
matters
relating
to
or
arising
out
of
the
prior
manufacture
of
products
that
contained
asbestos
by
current
and
former
James
Hardie
subsidiaries;
required
contributions
to
AICF,
any
shortfall
in
AICF
and
the
effect
of
currency
exchange
rate
movements
on
the
amount
recorded
in
the
company’s
financial
statements
as
an
asbestos
liability;
governmental
loan
facility
to
AICF;
compliance
with
and
changes
in
tax
laws
and
treatments;
competition
and
product
pricing
in
the
markets
in
which
the
company
operates;
the
consequences
of
product
failures
or
defects;
exposure
to
environmental,
asbestos,
putative
consumer
class
action
or
other
legal
proceedings;
general
economic
and
market
conditions;
the
supply
and
cost
of
raw
materials;
possible
increases
in
competition
and
the
potential
that
competitors
could
copy
the
company’s
products;
reliance
on
a
small
number
of
customers;
a
customer’s
inability
to
pay;
compliance
with
and
changes
in
environmental
and
health
and
safety
laws;
risks
of
conducting
business
internationally;
compliance
with
and
changes
in
laws
and
regulations;
the
effect
of
the
transfer
of
the
company’s
corporate
domicile
from
The
Netherlands
to
Ireland,
including
changes
in
corporate
governance
and
potential
tax
benefits;
currency
exchange
risks;
dependence
on
customer
preference
and
the
concentration
of
the
company’s
customer
base
on
large
format
retail
customers,
distributors
and
dealers;
dependence
on
residential
and
commercial
construction
markets;
the
effect
of
adverse
changes
in
climate
or
weather
patterns;
possible
inability
to
renew
credit
facilities
on
terms
favourable
to
the
company,
or
at
all;
acquisition
or
sale
of
businesses
and
business
segments;
changes
in
the
company’s
key
management
personnel;
inherent
limitations
on
internal
controls;
use
of
accounting
estimates;
and
all
other
risks
identified
in
the
company’s
reports
filed
with
Australian,
Irish
and
US
securities
agencies
and
exchanges
(as
appropriate).
The
company
cautions
you
that
the
foregoing
list
of
factors
is
not
exhaustive
and
that
other
risks
and
uncertainties
may
cause
actual
results
to
differ
materially
from
those
in
forward-looking
statements.
Forward-looking
statements
speak
only
as
of
the
date
they
are
made
and
are
statements
of
the
company’s
current
expectations
concerning
future
results,
events
and
conditions.
The
company
assumes
no
obligation
to
update
any
forward-looking
statements
or
information
except
as
required
by
law.
•
statements
about
the
company’s
future
performance;
•
projections
of
the
company’s
results
of
operations
or
financial
condition;
•
statements
regarding
the
company’s
plans,
objectives
or
goals,
including
those
relating
to
strategies,
initiatives,
competition,
acquisitions,
dispositions
and/or
our
products;
•
expectations
concerning
the
costs
associated
with
the
suspension
or
closure
of
operations
at
any
of
the
company’s
plants
and
future
plans
with
respect
to
any
such
plants;
•
expectations
regarding
the
extension
or
renewal
of
the
company’s
credit
facilities
including
changes
to
terms,
covenants
or
ratios;
•
expectations
concerning
dividend
payments
and
share
buy-backs;
•
statements
concerning
the
company’s
corporate
and
tax
domiciles
and
structures
and
potential
changes
to
them,
including
potential
tax
charges;
•
statements
regarding
tax
liabilities
and
related
audits,
reviews
and
proceedings;
•
statements
as
to
the
possible
consequences
of
proceedings
brought
against
the
company
and
certain
of
its
former
directors
and
officers
by
the
Australian
Securities
and
Investments
Commission
(ASIC);
•
statements
regarding
the
possible
consequences
and/or
potential
outcome
of
the
legal
proceedings
brought
against
two
of
the
company’s
subsidiaries
by
the
New
Zealand
Ministry
of
Education
and
the
potential
product
liabilities,
if
any,
associated
with
such
proceedings;
•
expectations
about
the
timing
and
amount
of
contributions
to
Asbestos
Injuries
Compensation
Fund
(AICF),
a
special
purpose
fund
for
the
compensation
of
proven
Australian
asbestos-related
personal
injury
and
death
claims;
•
expectations
concerning
indemnification
obligations;
•
expectations
concerning
the
adequacy
of
the
company’s
warranty
provisions
and
estimates
for
future
warranty-related
costs;
•
statements
regarding
the
company’s
ability
to
manage
legal
and
regulatory
matters
(including
but
not
limited
to
product
liability,
environmental,
intellectual
property
and
competition
law
matters)
and
to
resolve
any
such
pending
legal
and
regulatory
matters
within
current
estimates
and
in
anticipation
of
certain
third-party
recoveries;
and
•
statements
about
economic
conditions,
such
as
changes
in
the
US
economic
or
housing
recovery,
the
levels
of
new
home
construction
and
home
renovations,
unemployment
levels,
changes
in
consumer
income,
changes
or
stability
in
housing
values,
the
availability
of
mortgages
and
other
financing,
mortgage
and
other
interest
rates,
housing
affordability
and
supply,
the
levels
of
foreclosures
and
home
resales,
currency
exchange
rates,
and
builder
and
consumer
confidence.

•
Business Overview
•
USA & Europe Fibre Cement
•
Asia Pacific Fibre Cement
•
Group Outlook
•
Summary
•
Appendix
AGENDA
3
In
this
Investor
Presentation,
James
Hardie
may
present
financial
measures,
sales
volume
terms,
financial
ratios,
and
Non-US
GAAP
financial
measures
included
in
the
Definitions
section
of
this
document
starting
on
page
26.
The
company
presents
financial
measures
that
it
believes
are
customarily
used
by
its
Australian
investors.
Specifically,
these
financial
measures,
which
are
equivalent
to
or
derived
from
certain
US
GAAP
measures
as
explained
in
the
definitions,
include
“EBIT”,
“EBIT
margin”,
“Operating
profit
before
income
taxes”
and
“Net
operating
profit”.
The
company
may
also
present
other
terms
for
measuring
its
sales
volumes
(“million
square
feet”
or
“mmsf”
and
“thousand
square
feet”
or
“msf”);
financial
ratios
(“Gearing
ratio”,
“Net
interest
expense
cover”,
“Net
interest
paid
cover”,
“Net
debt
payback”,
“Net
debt
(cash)”);
and
Non-US
GAAP
financial
measures
(“EBIT
excluding
asbestos,
ASIC
expenses
and
New
Zealand
product
liability
expenses”,
“EBIT
margin
excluding
asbestos,
ASIC
expenses
and
New
Zealand
product
liability
expenses”,
“Net
operating
profit
excluding
asbestos,
ASIC
expenses,
New
Zealand
product
liability
expenses
and
tax
adjustments”,
“Diluted
earnings
per
share
excluding
asbestos,
ASIC
expenses,
New
Zealand
product
liability
expenses
and
tax
adjustments”,
“Operating
profit
before
income
taxes
excluding
asbestos
and
New
Zealand
product
liability
expenses”,
“Effective
tax
rate
on
earnings
excluding
asbestos,
New
Zealand
product
liability
expenses
and
tax
adjustments”,
“Adjusted
EBITDA”,
“General
corporate
costs
excluding
ASIC
expenses
and
intercompany
foreign
exchange
gain”
and
“Selling,
general
and
administrative
expenses
excluding
New
Zealand
product
liability
expenses”).
Unless
otherwise
stated,
results
and
comparisons
are
of
the
1st
quarter
of
the
current
fiscal
year
versus
the
1st
quarter
of
the
prior
fiscal
year.

Annual net sales US$1.5b
Total assets US$1.3b
Net cash US$198m
Operations in North America, Asia Pacific and Europe
2,700 employees
Market cap US$4.1b
S&P/ASX 100 company
NYSE ADR listing   
Note:
Market
capitalization,
total
assets
and
net
cash
are
as
at
30
June
2013.
Net cash of US$198m has been reduced by the FY13 second half dividend of US$166m which was paid in July 2013. Annual net sales equal Q1
FY14 net sales annualised. Total assets exclude asbestos compensation.
JHX: A GROWTH FOCUSED COMPANY
4

1
Comparisons are of the 1    quarter FY14 and full fiscal year as
at 31 March 2013 versus the 1
quarter FY13 and full fiscal year as at 31 March 2012
2
Includes $485.2m tax benefit arising on conclusion of RCI’s disputed amended assessment with the Australian Taxation Office
1
US Millions
Q1
FY2014
Q1
FY2013
%
Change
FY2013
FY2012
%
Change
Net Operating Profit
142.2
68.5
-
45.5
604.3
(92)
Net operating profit excluding
asbestos, asset impairments, ASIC
expenses, New Zealand product
liability expenses and tax
adjustments
52.0
43.8
19
140.8
144.3
(2)
2
GROUP OVERVIEW
1
5
st
st

USA Fibre Cement Products
Siding
Soffit
Fascia
Trim
Backerboard
Asia Pacific Fibre Cement Products
Residential siding
Commercial exteriors
Flooring
Ceilings and internal walls
JHX: A WORLD LEADER IN FIBRE CEMENT
6

USA  and Europe Fibre Cement
Asia-Pacific Fibre Cement
1
All numbers are for the 1st quarter ended 30 June 2013
*EBIT –
Excludes Research and Development EBIT, Asbestos-related items, Asset impairment charges, New Zealand product liability
expenses and general corporate costs
GLOBAL BUSINESS PORTFOLIO
1
7

Fibre cement is more durable than wood and engineered wood, looks and performs
better than vinyl, and is more cost effective and quicker to build with than brick
Fibre
Cement
Vinyl
Engineered
Wood
?
?
?
?
?
?
?
?
?
?
?
?
?
?
FIBRE CEMENT:
SUPERIOR PRODUCT PERFORMANCE
8
Fire resistant
Hail resistant
Resists warping
Resists buckling
Colour lasts longer
Dimensional stability
Can be repainted

•
7   Generation versus 2   Generation generic fibre cement
•
The HardieZone®
System represents a logical extension of Hardie technology
PRODUCT LEADERSHIP EXAMPLE:
HARDIEZONE®
SYSTEM
9
®
th
nd

THE USA BUSINESS: LARGEST FIBRE
CEMENT PRODUCER IN NORTH AMERICA
10

Rolling 12 month average of seasonally adjusted estimate of housing starts by US Census Bureau
Market and category share tracking as planned in FY14
USA FIBRE CEMENT
11

USA AND EUROPE FIBRE CEMENT
12
1
Excludes
asset
impairment
charges
of
US$14.3
million
in
4
th
quarter
FY12,
US$5.8
million
in
3
rd
quarter
FY13
and
US$11.1
million
in
4
th
quarter
FY13

USA AND EUROPE FIBRE CEMENT
13

TOTAL US HOUSING STARTS
14

Five manufacturing plants in Asia
Pacific
Net sales US$376m
EBIT US$84m
Higher value differentiated products
Lower delivered cost
Growth model
Asia Pacific manufacturing facilities
Net Sales and EBIT equal Q1 FY14 annualised. EBIT excludes New
Zealand product liability expenses
1
1
1
ASIA PACIFIC FIBRE CEMENT
15

Ceilings and partitions
Philippines
Exterior cladding
Australia
General purpose flooring
Australia
New Zealand
Interior walls
ASIA PACIFIC FIBRE CEMENT -
EXAMPLES
16

•
The company announced in November 2012 a dividend payout ratio of between 30% and 50% of net operating
profit (excluding asbestos adjustments) from FY14 onwards
•
The company also announced on 23 May 2013:
•
A new share buyback program to acquire up to 5% of issued capital over the next 12 months. The actual shares
that the company may buyback will be subject to share price levels, consideration of the effect of the share buyback
on return on equity, and capital requirements
•
On 31 July 2013, the company repurchased 221,000 shares of its common stock, at cost of A$2.0 million
(US$1.8 million), at an average market price of A$9.02 (US$8.20)
•
If and to the extent the company does not undertake further share buybacks during FY14, the company will
consider further distributions to shareholders over and above those contemplated under the company’s dividend
policy subject to:
•
an assessment of the current and expected industry conditions in
the group’s major markets of the US and
Australia
•
an assessment of the group’s capital requirements, especially for funding of expansion and growth initiatives
•
global economic conditions and outlook, and
•
total net operating profit (excluding asbestos adjustments) for FY14
FUTURE SHAREHOLDER RETURNS
17

USA and Europe Fibre Cement
•
The US operating environment continues to reflect an increasing number of housing starts and
improving house values
•
Pick-up in repair and remodelling activity becoming apparent
•
The company is continuing with its plan to invest in capacity expansions through re-commissioning
of idled facilities in future periods
•
The USA business is tracking to deliver a +20% FY14 EBIT margin
Asia Pacific Fibre Cement
•
In Australia, the addressable market is likely to remain relatively subdued in FY14
•
In New Zealand, the housing market continues to improve
•
In the Philippines, the business is experiencing growth in its core market segments and is expected
to deliver consistent earnings over the next 12 months
GROUP OUTLOOK
18

We have a strong, well-established, growth-focused, strong cash-generating and high return
business
We have a sustainable competitive advantage
Our model for strong growth is based on:
Large market opportunity
Superior value proposition
Proprietary and/or protected technology
Ongoing commitment to research and development
Significant organisational advantages
Focused strategy and organisational effort
Scale
Throughout the low demand environment the company has performed exceptionally well,
consistently delivering solid financial returns
The company is on track to leverage its increased capabilities as the US housing market
recovery progresses
SUMMARY
19

APPENDIX

Industry leadership and profitable growth
Aggressively grow demand for
our products in targeted market
segments
Grow our overall market position
while defending our share in
existing market segments
Introduce differentiated products
to deliver a sustainable
competitive advantage
GLOBAL STRATEGY
21

KEY RATIOS
22

FY09
FY10
FY11
FY12
FY13
Net Sales
US$m
929
828
814
862
951
Sales Volume
mmsf
1,527
1,304
1,248
1,332
1,489
Average Price
US$ per msf
609
635
652
647
639
EBIT US$m
199
209
160
163
163
EBIT Margin %
21
25
20
19
17
1
1
Excludes asset impairment charges of US$14.3 million and US$16.9
million in FY12 and FY13, respectively
1
USA AND EUROPE FIBRE CEMENT           
5 YEAR RESULTS OVERVIEW
23

FY09
FY10
FY11
FY12
FY13
Net Sales
US$m
273
297
353
376
370
Sales Volume
mmsf
391
390
408
392
394
Average Price
US$ per msf
879
894
916
916
911
EBIT US$m
47
59
79
86
75
EBIT Margin %
17
20
23
23
20
1
1
Excludes New Zealand product liability expenses of US$5.4 million and US$13.2 million in FY12 and FY13, respectively
1
ASIA PACIFIC FIBRE CEMENT
5 YEAR RESULTS OVERVIEW
24

1
Asia Pacific Fibre Cement EBIT excludes New Zealand product liability expenses of US$4.6 million and nil in Q1 ‘14 and Q1 ‘13, respectively
FINANCIAL SUMMARY
25

This Management Presentation forms part of a package of information about the company’s results. It should be read in conjunction
with the company’s most recent results material  for Q1 FY14, including  Management’s Analysis of Results, Media  Release and
Consolidated Financial Statements.
ENDNOTES
26
Definitions
Non-financial Terms
ABS
–
Australian Bureau of Statistics
AFFA
–
Amended and Restated Final Funding Agreement
AICF
–
Asbestos Injuries Compensation Fund Ltd
ASIC
–
Australian Securities and Investments Commission
ATO
–
Australian Taxation Office
NBSK –
Northern Bleached Soft Kraft; the company's benchmark grade of pulp

Financial Measures –
US GAAP equivalents
This document contains financial statement line item descriptions that are considered to be non-US GAAP, but are
consistent with those used by Australian companies. Because the company prepares its consolidated financial
statements under US GAAP, the following table cross-references each non-US GAAP line item description, as used in
Management’s Analysis of Results and Media Release, to the equivalent US GAAP financial statement line item
description used in the company’s consolidated financial statements:
Management's Analysis of Results and
Consolidated Statements of Operations
Media Release
and Other Comprehensive Income (Loss)
(US GAAP)
Net sales
Net sales
Cost of goods sold
Cost of goods sold
Gross profit
Gross profit
Selling, general and administrative expenses
Selling, general and administrative expenses
Research and development expenses
Research and development expenses
Asbestos adjustments
Asbestos adjustments
EBIT
*
Operating income (loss)
Net interest income (expense)*
Sum of interest expense and interest income
Other income (expense)
Other income (expense)
Operating profit (loss) before income taxes*
Income (loss) before income taxes
Income tax (expense) benefit
Income tax (expense) benefit
Net operating  profit (loss)*
Net income (loss)
*- Represents non-U.S. GAAP descriptions used by Australian companies.
ENDNOTES (CONTINUED)
27

EBIT margin –
EBIT margin is defined as EBIT as a percentage of net sales.
Sales Volumes
mmsf
–
million square feet, where a square foot is defined as a standard square foot of 5/16”
thickness
msf
–
thousand
square
feet,
where
a
square
foot
is
defined
as
a
standard
square
foot
of
5/16”
thickness
Financial Ratios
Gearing Ratio
–
Net debt (cash) divided by net debt (cash) plus shareholders’
equity
Net interest expense cover
–
EBIT divided by net interest expense (excluding loan establishment fees)
Net interest paid cover
–
EBIT divided by cash paid during the period for interest, net of
amounts capitalised
Net debt payback
–
Net debt (cash) divided by cash flow from operations
Net debt (cash)
–
Short-term and long-term debt less cash and cash equivalents
Return on Capital employed
–
EBIT divided by gross capital employed
ENDNOTES (CONTINUED)
28

EBIT and EBIT margin excluding asbestos, ASIC expenses and New Zealand product liability expenses
–
EBIT and
EBIT margin excluding asbestos, ASIC expenses and New Zealand product liability expenses are not measures of
financial performance under US GAAP and should not be considered
to be more meaningful than EBIT and EBIT margin.
Management has included these financial measures to provide investors with an alternative method for assessing its
operating results in a manner that is focussed on the performance of its ongoing operations and provides useful
information regarding its financial condition and results of operations. Management uses these non-US GAAP measures
for the same purposes
Q1
Q1
US$ Millions
FY 2014
FY 2013
EBIT
$ 156.9
$ 82.5
Asbestos:
Asbestos adjustments
(94.5)
(25.2)
AICF SG&A expenses
0.5
0.3
ASIC expenses
-
0.1
New Zealand product liability expenses
4.6
-
EBIT excluding asbestos, ASIC expenses and New
Zealand product liability expenses
67.5
57.7
Net sales
$ 372.2
$ 339.7
EBIT margin excluding asbestos, ASIC expenses and
New Zealand product liability expenses
18.1%
17.0%
NON-US GAAP FINANCIAL MEASURES
29

Net operating profit excluding asbestos, ASIC expenses, New Zealand product liability expenses and tax
adjustments
–
Net operating profit excluding asbestos, ASIC expenses, New Zealand product liability expenses and tax
adjustments is not a measure of financial performance under US GAAP and should not be considered to be more
meaningful than net operating profit. Management has included this financial measure to provide investors with an
alternative method for assessing its operating results in a manner that is focussed on the performance of its ongoing
operations. Management uses this non-US GAAP measure for the same purposes
Q1
Q1
US$ Millions
FY 2014
FY 2013
Net operating profit
$ 142.2
$ 68.5
Asbestos:
Asbestos adjustments
(94.5)
(25.2)
AICF SG&A expenses
0.5
0.3
AICF interest income
(1.1)
(1.1)
ASIC expenses
-
0.1
New Zealand product liability expenses
4.6
-
Asbestos and other tax adjustments
0.3
1.2
Net operating profit excluding asbestos, ASIC
expenses, New Zealand product liability expenses
and tax adjustments
$ 52.0
$ 43.8
NON-US GAAP FINANCIAL MEASURES (CONTINUED)
30

Diluted earnings per share excluding asbestos, ASIC expenses, New Zealand product liability expenses and tax
adjustments
–
Diluted earnings per share excluding asbestos, ASIC expenses, New Zealand product liability expenses
and tax adjustments is not a measure of financial performance under US GAAP and should not be considered to be more
meaningful than diluted earnings per share. Management has included this financial measure to provide investors with an
alternative method for assessing its operating results in a manner that is focussed on the performance of its ongoing
operations. Management uses this non-US GAAP measure for the same purposes
Q1
Q1
US$ Millions
FY 2014
FY 2013
Net operating profit excluding asbestos, ASIC
expenses, New Zealand product liability expenses
and tax adjustments
$ 52.0
$ 43.8
Weighted average common shares outstanding -
   Diluted (millions)
443.1
438.5
Diluted earnings per share excluding asbestos, 
ASIC expenses, New Zealand product liability
expenses and tax adjustments (US cents)
11.7
10.0
NON-US GAAP FINANCIAL MEASURES (CONTINUED)
31

Effective tax rate excluding asbestos, New Zealand product liability expenses and tax adjustments
–
Effective
tax rate on earnings excluding asbestos, New Zealand product liability expenses and tax adjustments is not a measure
of financial performance under US GAAP and should not be considered to be more meaningful than effective tax rate.
Management has included this financial measure to provide investors with an alternative method for assessing its
operating results in a manner that is focussed on the performance of its ongoing operations. Management uses this non-
US GAAP measure for the same purposes
NON-US GAAP FINANCIAL MEASURES (CONTINUED)
32

Adjusted EBITDA
–
is not a measure of financial performance under US GAAP and should not be considered an
alternative to, or more meaningful than, income from operations,
net income or cash flows as defined by US GAAP or as a
measure of profitability or liquidity. Not all companies calculate Adjusted EBITDA in the same manner as James Hardie
has and, accordingly, Adjusted EBITDA may not be comparable with
other companies. Management has included
information concerning Adjusted EBITDA because it believes that this data is commonly used by investors to evaluate the
ability of a company’s earnings from its core business operations to satisfy its debt, capital expenditure and working
capital requirements
Q1
Q1
US$ Millions
FY 2014
FY 2013
EBIT
$ 156.9
$ 82.5
Depreciation and amortisation
15.4
15.4
Adjusted EBITDA
$ 172.3
$ 97.9
NON-US GAAP FINANCIAL MEASURES (CONTINUED)
33

General corporate costs excluding ASIC expenses and intercompany
foreign exchange gain –
General
corporate costs excluding ASIC expenses and intercompany foreign
exchange gain is not a measure of financial
performance under US GAAP and should not be considered to be more meaningful than general corporate costs.
Management has included these financial measures to provide investors with an alternative method for assessing its
operating results in a manner that is focussed on the performance of its ongoing operations and provides useful
information regarding its financial condition and results of operations. Management uses these non-US GAAP
measures for the same purposes
Q1
Q1
US$ Millions
FY 2013
General corporate costs
$ 6.9
$ 4.4
Excluding:
ASIC expenses
-
(0.1)
Intercompany foreign exchange gain
-
5.5
General corporate costs excluding ASIC
expenses and intercompany foreign exchange
gain
$ 6.9
$ 9.8
FY 2014
NON-US GAAP FINANCIAL MEASURES (CONTINUED)
34

Selling, general and administrative expenses excluding New Zealand product liability expenses –
Selling, general
and administrative expenses excluding New Zealand product liability expenses is not a measure of financial performance
under US GAAP and should not be considered to be more meaningful
than selling, general and administrative expenses.
Management has included these financial measures to provide investors with an alternative method for assessing its
operating results in a manner that is focussed on the performance of its ongoing operations and provides useful
information regarding its financial condition and results of operations. Management uses these non-US GAAP measures
for the same purposes
NON-US GAAP FINANCIAL MEASURES (CONTINUED)
35