Item 2.02 Results of Operations and Financial Condition
On February 4, 2009, we issued a press release reporting our financial results
for the three and twelve months ended December 31, 2008 (the "Press Release").
We also hosted a conference call and webcast on February 4, 2009 during which we
made a presentation on our financial results for the three and twelve months
ended December 31, 2008 (the "Presentation"). The Press Release and the
Presentation are available on our website at www.ryder.com.
The Press Release and Presentation include information regarding (1) comparable
net earnings and comparable earnings per share for both fourth quarter and full
year 2008, (2) comparable effective income tax rate for the fourth quarter 2008,
(3) comparable earnings per share forecast for first quarter and full year 2009,
which are non-GAAP financial measures as defined by SEC regulations. We believe
that these non-GAAP financial measures provide useful information to investors,
and allow for better year-over-year comparison, as the measures exclude from our
GAAP net earnings, earnings per share, earnings per share forecast and
comparable effective tax rate, as applicable, (1) fourth quarter 2008
restructuring and other charges and expected 2009 restructuring and other
charges related to previously announced strategic initiatives and workforce
reduction, (2) fourth quarter 2008 reversal of reserves related to uncertain tax
positions, (3) fourth quarter 2008 international asset impairments and
write-offs, (4) third quarter 2008 net tax benefit from tax law changes, and
(5) the impact of charges in the second quarter 2008 for prior years'
adjustments associated with our Brazilian Supply Chain Solutions operation, all
of which are unrelated to our ongoing business operations.
Additional information regarding non-GAAP financial measures can be found in the
Press Release, the Presentation and our reports filed with the SEC.
The information in this Report, including Exhibits 99.1 and 99.2, is being
furnished pursuant to Item 2.02 of Form 8-K and General Instruction B.2
thereunder and shall not be deemed to be incorporated by reference in any filing
under the Securities Act of 1933 or the Securities Exchange Act of 1934, except
as expressly set forth by specific reference to such filing.
Item 9.01(d) Exhibits
The following exhibits are furnished as part of this Report on Form 8-K:
Exhibit 99.1 Press Release, dated February 4, 2009, relating to Ryder System, Inc.'s
financial results for the three and twelve months ended December 31, 2008.
Exhibit 99.2 Presentation prepared for a conference call and webcast held on
February 4, 2009, relating to Ryder System, Inc.'s financial results for
the three and twelve months ended December 31, 2008.
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