Quarterly report pursuant to Section 13 or 15(d)

Investments (Tables)

v2.4.0.6
Investments (Tables)
 6 Months Ended
Aug. 31, 2012
Investments [Abstract]  
Summary of Financial Information for Company's Equity Method Investment
The following table presents summarized financial information for the Company’s Crown Imports equity method investment. The amounts shown represent 100% of this equity method investment’s results of operations.

 
For the Six Months
Ended August 31,
 
For the Three Months
Ended August 31,
 
2012
 
2011
 
2012
 
2011
(in millions)
 
 
 
 
 
 
 
Net sales
$
1,512.5

 
$
1,404.5

 
$
788.4

 
$
727.0

Gross profit
$
436.8

 
$
409.9

 
$
225.6

 
$
210.3

Income from continuing operations
$
266.0

 
$
245.0

 
$
143.2

 
$
125.4

Net income
$
266.0

 
$
245.0

 
$
143.2

 
$
125.4

Amounts Recognized Under Agreements With Related Parties
The Company is party to several agreements with Accolade, including distribution agreements under which the Company’s Constellation Wines and Spirits segment distributes Accolade’s products primarily in the U.S. and Canada, and Accolade distributes Constellation Wines and Spirits’ products primarily in Australia, the U.K., and Mainland Europe; certain bulk wine supply agreements; and certain bottling agreements. The following table presents a summary of amounts recognized under these arrangements. As of August 31, 2012, and February 29, 2012, amounts receivable from or payable to Accolade under these arrangements were not material. Effective October 1, 2012, the Company no longer distributes Accolade’s products in the U.S.

 
For the Six Months
Ended August 31,
 
For the Three Months
Ended August 31,
 
2012
 
2011
 
2012
 
2011
(in millions)
 
 
 
 
 
 
 
Amounts sold to or related to services performed for Accolade
$
48.5

 
$
49.6

 
$
24.0

 
$
22.6

 
 
 
 
 
 
 
 
Amounts purchased from or related to services performed by Accolade
$
7.8

 
$
8.0

 
$
3.8

 
$
4.7