Quarterly report pursuant to Section 13 or 15(d)

Business Segment Information (Tables)

v2.4.0.6
Business Segment Information (Tables)
 6 Months Ended
Aug. 31, 2012
Segment Reporting [Abstract]  
Restructuring charges and unusual items
For the six months and three months ended August 31, 2012, and August 31, 2011, restructuring charges and unusual items included in operating income consist of:

 
For the Six Months
Ended August 31,
 
For the Three Months
Ended August 31,
 
2012
 
2011
 
2012
 
2011
(in millions)
 
 
 
 
 
 
 
Cost of Product Sold:
 
 
 
 
 
 
 
Flow through of inventory step-up
$
2.3

 
$
—

 
$
1.5

 
$
—

Accelerated depreciation
—

 
0.3

 
—

 
0.1

Cost of Product Sold
2.3

 
0.3

 
1.5

 
0.1

 
 
 
 
 
 
 
 
Selling, General and Administrative Expenses:
 
 
 
 
 
 
 
Transaction and related costs associated with pending and completed acquisitions
9.1

 
—

 
9.1

 
—

Gain on settlement of receivable associated with a prior divestiture
(4.0
)
 
—

 
(3.5
)
 
—

Net foreign currency loss (gain) on contractual obligation from put option of Ruffino shareholder
—

 
2.1

 
—

 
(0.1
)
Net (gains) losses on CWAE Divestiture and related activities
—

 
(0.1
)
 
—

 
0.7

Other costs
5.4

 
4.2

 
2.7

 
3.1

Selling, General and Administrative Expenses
10.5


6.2

 
8.3

 
3.7

 
 
 
 
 
 
 
 
Restructuring Charges
0.7

 
10.8

 
0.2

 
(0.3
)
 
 
 
 
 
 
 
 
Restructuring Charges and Unusual Items
$
13.5

 
$
17.3

 
$
10.0

 
$
3.5

Segment information
Segment information is as follows:

 
For the Six Months
Ended August 31,
 
For the Three Months
Ended August 31,
 
2012
 
2011
 
2012
 
2011
(in millions)
 
 
 
 
 
 
 
Constellation Wines and Spirits:
 
 
 
 
 
 
 
Net sales
$
1,333.3

 
$
1,325.5

 
$
698.5

 
$
690.2

Segment operating income
$
294.3

 
$
303.9

 
$
161.3

 
$
167.3

Equity in (losses) earnings of equity method investees
$
(1.1
)
 
$
3.7

 
$
(0.8
)
 
$
1.3

Long-lived tangible assets
$
1,101.7

 
$
1,109.2

 
$
1,101.7

 
$
1,109.2

Investment in equity method investees
$
70.3

 
$
82.1

 
$
70.3

 
$
82.1

Total assets
$
6,822.4

 
$
6,601.8

 
$
6,822.4

 
$
6,601.8

Capital expenditures
$
30.7

 
$
25.9

 
$
14.9

 
$
12.2

Depreciation and amortization
$
44.3

 
$
42.4

 
$
21.8

 
$
21.2

 
 
 
 
 
 
 
 
Corporate Operations and Other:
 
 
 
 
 
 
 
Net sales
$
—

 
$
—

 
$
—

 
$
—

Segment operating loss
$
(44.1
)
 
$
(39.8
)
 
$
(20.7
)
 
$
(18.7
)
Long-lived tangible assets
$
131.8

 
$
131.8

 
$
131.8

 
$
131.8

Total assets
$
1,039.0

 
$
261.6

 
$
1,039.0

 
$
261.6

Capital expenditures
$
4.9

 
$
13.3

 
$
1.1

 
$
6.0

Depreciation and amortization
$
12.9

 
$
9.9

 
$
5.9

 
$
4.2

 
 
 
 
 
 
 
 
Crown Imports:
 
 
 
 
 
 
 
Net sales
$
1,512.5

 
$
1,404.5

 
$
788.4

 
$
727.0

Segment operating income
$
266.4

 
$
245.4

 
$
143.4

 
$
125.6

Long-lived tangible assets
$
9.0

 
$
6.2

 
$
9.0

 
$
6.2

Total assets
$
463.7

 
$
408.3

 
$
463.7

 
$
408.3

Capital expenditures
$
0.4

 
$
2.4

 
$
0.1

 
$
1.5

Depreciation and amortization
$
1.5

 
$
1.0

 
$
0.8

 
$
0.5

 
 
 
 
 
 
 
 
Restructuring Charges and Unusual Items:
 
 
 
 
 
 
 
Operating loss
$
(13.5
)
 
$
(17.3
)
 
$
(10.0
)
 
$
(3.5
)
 
 
 
 
 
 
 
 
 
For the Six Months
Ended August 31,
 
For the Three Months
Ended August 31,
 
2012
 
2011
 
2012
 
2011
(in millions)
 
 
 
 
 
 
 
Consolidation and Eliminations:
 
 
 
 
 
 
 
Net sales
$
(1,512.5
)
 
$
(1,404.5
)
 
$
(788.4
)
 
$
(727.0
)
Operating income
$
(266.4
)
 
$
(245.4
)
 
$
(143.4
)
 
$
(125.6
)
Equity in earnings of Crown Imports
$
132.2

 
$
122.5

 
$
71.3

 
$
62.7

Long-lived tangible assets
$
(9.0
)
 
$
(6.2
)
 
$
(9.0
)
 
$
(6.2
)
Investment in equity method investees
$
179.1

 
$
171.3

 
$
179.1

 
$
171.3

Total assets
$
(284.6
)
 
$
(237.0
)
 
$
(284.6
)
 
$
(237.0
)
Capital expenditures
$
(0.4
)
 
$
(2.4
)
 
$
(0.1
)
 
$
(1.5
)
Depreciation and amortization
$
(1.5
)
 
$
(1.0
)
 
$
(0.8
)
 
$
(0.5
)
 
 
 
 
 
 
 
 
Consolidated:
 
 
 
 
 
 
 
Net sales
$
1,333.3

 
$
1,325.5

 
$
698.5

 
$
690.2

Operating income
$
236.7

 
$
246.8

 
$
130.6

 
$
145.1

Equity in earnings of equity method investees
$
131.1

 
$
126.2

 
$
70.5

 
$
64.0

Long-lived tangible assets
$
1,233.5

 
$
1,241.0

 
$
1,233.5

 
$
1,241.0

Investment in equity method investees
$
249.4

 
$
253.4

 
$
249.4

 
$
253.4

Total assets
$
8,040.5

 
$
7,034.7

 
$
8,040.5

 
$
7,034.7

Capital expenditures
$
35.6

 
$
39.2

 
$
16.0

 
$
18.2

Depreciation and amortization
$
57.2

 
$
52.3

 
$
27.7

 
$
25.4