Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidating Financial Information (Details 1)

v3.3.0.814
Condensed Consolidating Financial Information (Details 1) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Aug. 31, 2015
Aug. 31, 2014
Aug. 31, 2015
Aug. 31, 2014
Condensed Consolidating Statement of Comprehensive Income        
Sales $ 1,912.9 $ 1,770.0 $ 3,710.9 $ 3,457.1
Less – excise taxes (179.5) (165.9) (346.2) (327.0)
Net sales 1,733.4 1,604.1 3,364.7 3,130.1
Cost of product sold (957.8) (932.1) (1,852.0) (1,788.0)
Gross profit 775.6 672.0 1,512.7 1,342.1
Selling, general and administrative expenses (296.2) (293.3) (606.0) (571.2)
Operating income 479.4 378.7 906.7 770.9
Equity in earnings (losses) of equity method investees and subsidiaries 0.2 (0.6) 1.2 (0.1)
Interest income 0.1 0.1 0.4 0.6
Intercompany interest income 0.0 0.0 0.0 0.0
Interest expense (77.4) (85.1) (155.2) (172.0)
Intercompany interest expense 0.0 0.0 0.0 0.0
Loss on write-off of financing costs (1.1) (4.4) (1.1) (4.4)
Income before income taxes 401.2 288.7 752.0 595.0
(Provision for) benefit from income taxes (97.1) (92.9) (207.7) (192.5)
Net income 304.1 195.8 544.3 402.5
Net income attributable to noncontrolling interests (1.7) 0.0 (3.3) 0.0
Net income attributable to CBI 302.4 195.8 541.0 402.5
Comprehensive income attributable to CBI 117.0 167.2 301.7 421.3
Parent Company [Member]        
Condensed Consolidating Statement of Comprehensive Income        
Sales 625.0 594.7 1,183.6 1,139.2
Less – excise taxes (83.5) (76.9) (159.7) (153.2)
Net sales 541.5 517.8 1,023.9 986.0
Cost of product sold (437.7) (418.6) (828.5) (796.9)
Gross profit 103.8 99.2 195.4 189.1
Selling, general and administrative expenses (96.8) (101.2) (199.6) (194.1)
Operating income 7.0 (2.0) (4.2) (5.0)
Equity in earnings (losses) of equity method investees and subsidiaries 322.1 3.2 626.3 509.0
Interest income 0.0 0.0 0.1 0.0
Intercompany interest income 46.2 44.4 92.0 88.5
Interest expense (71.5) (74.1) (140.8) (146.0)
Intercompany interest expense (66.4) (54.3) (130.0) (103.5)
Loss on write-off of financing costs (0.4) 0.0 (0.4) 0.0
Income before income taxes 237.0 (82.8) 443.0 343.0
(Provision for) benefit from income taxes 65.4 278.6 98.0 59.5
Net income 302.4 195.8 541.0 402.5
Net income attributable to noncontrolling interests 0.0 0.0 0.0 0.0
Net income attributable to CBI 302.4 195.8 541.0 402.5
Comprehensive income attributable to CBI 117.0 167.2 301.7 421.3
Subsidiary Guarantors [Member]        
Condensed Consolidating Statement of Comprehensive Income        
Sales 1,497.5 1,357.2 2,922.4 2,659.5
Less – excise taxes (79.7) (71.5) (154.8) (139.1)
Net sales 1,417.8 1,285.7 2,767.6 2,520.4
Cost of product sold (1,076.0) (983.1) (2,079.6) (1,906.4)
Gross profit 341.8 302.6 688.0 614.0
Selling, general and administrative expenses (174.1) (152.5) (351.3) (301.0)
Operating income 167.7 150.1 336.7 313.0
Equity in earnings (losses) of equity method investees and subsidiaries 1.5 0.3 3.7 1.8
Interest income 0.0 0.0 0.0 0.0
Intercompany interest income 66.4 54.5 130.3 103.8
Interest expense (0.3) (0.4) (0.6) (0.7)
Intercompany interest expense (46.0) (44.3) (91.9) (88.4)
Loss on write-off of financing costs 0.0 0.0 0.0 0.0
Income before income taxes 189.3 160.2 378.2 329.5
(Provision for) benefit from income taxes (74.8) (60.6) (147.9) (123.1)
Net income 114.5 99.6 230.3 206.4
Net income attributable to noncontrolling interests 0.0 0.0 0.0 0.0
Net income attributable to CBI 114.5 99.6 230.3 206.4
Comprehensive income attributable to CBI 115.0 99.0 230.1 207.5
Subsidiary Nonguarantors [Member]        
Condensed Consolidating Statement of Comprehensive Income        
Sales 792.8 791.4 1,618.0 1,605.4
Less – excise taxes (16.3) (17.5) (31.7) (34.7)
Net sales 776.5 773.9 1,586.3 1,570.7
Cost of product sold (466.0) (504.2) (952.1) (1,012.9)
Gross profit 310.5 269.7 634.2 557.8
Selling, general and administrative expenses (28.7) (43.1) (62.2) (83.5)
Operating income 281.8 226.6 572.0 474.3
Equity in earnings (losses) of equity method investees and subsidiaries 0.2 0.4 0.4 0.6
Interest income 0.1 0.1 0.3 0.6
Intercompany interest income 0.0 0.1 0.0 0.2
Interest expense (5.6) (10.6) (13.8) (25.3)
Intercompany interest expense (0.2) (0.4) (0.4) (0.6)
Loss on write-off of financing costs (0.7) (4.4) (0.7) (4.4)
Income before income taxes 275.6 211.8 557.8 445.4
(Provision for) benefit from income taxes (80.1) (309.8) (156.8) (132.4)
Net income 195.5 (98.0) 401.0 313.0
Net income attributable to noncontrolling interests (1.7) 0.0 (3.3) 0.0
Net income attributable to CBI 193.8 (98.0) 397.7 313.0
Comprehensive income attributable to CBI 6.2 (128.4) 155.8 329.4
Eliminations [Member]        
Condensed Consolidating Statement of Comprehensive Income        
Sales (1,002.4) (973.3) (2,013.1) (1,947.0)
Less – excise taxes 0.0 0.0 0.0 0.0
Net sales (1,002.4) (973.3) (2,013.1) (1,947.0)
Cost of product sold 1,021.9 973.8 2,008.2 1,928.2
Gross profit 19.5 0.5 (4.9) (18.8)
Selling, general and administrative expenses 3.4 3.5 7.1 7.4
Operating income 22.9 4.0 2.2 (11.4)
Equity in earnings (losses) of equity method investees and subsidiaries (323.6) (4.5) (629.2) (511.5)
Interest income 0.0 0.0 0.0 0.0
Intercompany interest income (112.6) (99.0) (222.3) (192.5)
Interest expense 0.0 0.0 0.0 0.0
Intercompany interest expense 112.6 99.0 222.3 192.5
Loss on write-off of financing costs 0.0 0.0 0.0 0.0
Income before income taxes (300.7) (0.5) (627.0) (522.9)
(Provision for) benefit from income taxes (7.6) (1.1) (1.0) 3.5
Net income (308.3) (1.6) (628.0) (519.4)
Net income attributable to noncontrolling interests 0.0 0.0 0.0 0.0
Net income attributable to CBI (308.3) (1.6) (628.0) (519.4)
Comprehensive income attributable to CBI $ (121.2) $ 29.4 $ (385.9) $ (536.9)