Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.3.0.814
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
 6 Months Ended
Aug. 31, 2015
Aug. 31, 2014
Cash flows from operating activities:    
Net income $ 544.3 $ 402.5
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred tax provision 94.0 67.6
Depreciation 88.7 78.3
Stock-based compensation 26.0 27.9
Amortization of intangible assets 22.7 24.7
Amortization of deferred financing costs 6.2 5.8
Noncash portion of loss on write-off of financing costs 1.1 3.3
Change in operating assets and liabilities, net of effects from purchase of business:    
Accounts receivable (128.9) (31.3)
Inventories 63.6 (34.3)
Prepaid expenses and other current assets 44.7 (30.7)
Accounts payable 94.1 107.1
Accrued excise taxes (1.4) 1.8
Other accrued expenses and liabilities (22.5) 59.8
Other (29.5) (14.4)
Total adjustments 258.8 265.6
Net cash provided by operating activities 803.1 668.1
Cash flows from investing activities:    
Purchase of business (317.9) 0.0
Purchases of property, plant and equipment (294.8) (308.2)
Other investing activities 3.7 2.0
Net cash used in investing activities (609.0) (306.2)
Cash flows from financing activities:    
Proceeds from issuance of long-term debt 200.0 0.0
Excess tax benefits from stock-based payment awards 89.7 64.0
Proceeds from shares issued under equity compensation plans 33.2 22.1
Dividends paid (119.8) 0.0
Principal payments of long-term debt (109.3) (34.4)
Payments of minimum tax withholdings on stock-based payment awards (38.4) (28.4)
Net proceeds from (repayments of) notes payable (18.5) 197.0
Payments of financing costs of long-term debt (7.6) (2.0)
Payment of delayed purchase price arrangement 0.0 (543.3)
Net cash provided by (used in) financing activities 29.3 (325.0)
Effect of exchange rate changes on cash and cash equivalents (3.8) 3.5
Net increase in cash and cash equivalents 219.6 40.4
Cash and cash equivalents, beginning of period 110.1 63.9
Cash and cash equivalents, end of period 329.7 104.3
Purchase of business    
Fair value of assets acquired 332.8 0.0
Liabilities assumed (16.6) 0.0
Net assets acquired 316.2 0.0
Plus - payment of purchase price adjustments 1.7 0.0
Cash paid for purchase of business $ 317.9 $ 0.0