v3.22.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
May 31, 2022
May 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ 399.3 $ (897.3)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Unrealized net (gain) loss on securities measured at fair value 22.4 745.1
Deferred tax provision (benefit) 21.5 (98.7)
Depreciation 92.7 76.0
Stock-based compensation 16.8 16.0
Equity in (earnings) losses of equity method investees and related activities, net of distributed earnings 165.5 154.1
Noncash lease expense 21.6 19.7
Amortization of debt issuance costs and loss on extinguishment of debt 17.7 2.7
Impairment of brewery construction in progress 0.0 665.9
Gain (loss) on settlement of Pre-issuance hedge contracts 20.7 0.0
Change in operating assets and liabilities, net of effects from purchase and sale of business:    
Accounts receivable 17.2 (136.7)
Inventories (83.0) (82.3)
Prepaid expenses and other current assets 93.7 (11.7)
Accounts payable 94.5 224.1
Deferred revenue 26.2 130.5
Other accrued expenses and liabilities (166.2) (61.7)
Other (2.4) (29.7)
Total adjustments 358.9 1,613.3
Net cash provided by (used in) operating activities 758.2 716.0
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of property, plant, and equipment (196.6) (113.9)
Purchase of business, net of cash acquired (37.2) 0.0
Investments in equity method investees and securities 0.0 (8.5)
Proceeds from sale of assets 6.5 0.8
Proceeds from sale of business 0.0 5.0
Other investing activities 0.5 0.0
Net cash provided by (used in) investing activities (226.8) (116.6)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of long-term debt 1,846.8 6.3
Principal payments of long-term debt (1,084.7) (7.4)
Net proceeds from (repayments of) short-term borrowings (199.0) 0.0
Dividends paid (149.3) (146.7)
Purchases of treasury stock (1,007.6) (400.8)
Proceeds from shares issued under equity compensation plans 14.0 12.5
Payments of minimum tax withholdings on stock-based payment awards (10.4) (9.8)
Payments of debt issuance, debt extinguishment, and other financing costs (25.8) 0.0
Distributions to noncontrolling interests (11.2) (10.6)
Net cash provided by (used in) financing activities (627.2) (556.5)
Effect of exchange rate changes on cash and cash equivalents (1.8) 0.3
Net increase (decrease) in cash and cash equivalents (97.6) 43.2
Cash and cash equivalents, beginning of period 199.4 460.6
Cash and cash equivalents, end of period 101.8 503.8
Supplemental disclosures of noncash investing and financing activities    
Additions to property, plant, and equipment $ 83.1 $ 179.6

Source