Condensed Consolidating Financial Information (Tables)
|
12 Months Ended |
Feb. 29, 2016 |
|---|
| Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
|
| Condensed Consolidating Balance Sheet |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Balance Sheet at February 29, 2016 |
Current assets: |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
$ |
6.0 |
|
|
$ |
4.2 |
|
|
$ |
72.9 |
|
|
$ |
— |
|
|
$ |
83.1 |
|
Accounts receivable |
0.4 |
|
|
22.3 |
|
|
709.8 |
|
|
— |
|
|
732.5 |
|
Inventories |
151.6 |
|
|
1,483.5 |
|
|
344.0 |
|
|
(127.5 |
) |
|
1,851.6 |
|
Intercompany receivable |
17,459.3 |
|
|
23,758.9 |
|
|
9,393.5 |
|
|
(50,611.7 |
) |
|
— |
|
Prepaid expenses and other |
29.6 |
|
|
67.8 |
|
|
281.1 |
|
|
(68.1 |
) |
|
310.4 |
|
Total current assets |
17,646.9 |
|
|
25,336.7 |
|
|
10,801.3 |
|
|
(50,807.3 |
) |
|
2,977.6 |
|
Property, plant and equipment |
63.2 |
|
|
879.8 |
|
|
2,390.4 |
|
|
— |
|
|
3,333.4 |
|
Investments in subsidiaries |
13,047.2 |
|
|
19.0 |
|
|
— |
|
|
(13,066.2 |
) |
|
— |
|
Goodwill |
— |
|
|
6,376.4 |
|
|
762.2 |
|
|
— |
|
|
7,138.6 |
|
Intangible assets |
— |
|
|
970.9 |
|
|
2,430.8 |
|
|
2.1 |
|
|
3,403.8 |
|
Intercompany notes receivable |
4,705.9 |
|
|
86.6 |
|
|
— |
|
|
(4,792.5 |
) |
|
— |
|
Other assets |
20.0 |
|
|
69.6 |
|
|
22.0 |
|
|
— |
|
|
111.6 |
|
Total assets |
$ |
35,483.2 |
|
|
$ |
33,739.0 |
|
|
$ |
16,406.7 |
|
|
$ |
(68,663.9 |
) |
|
$ |
16,965.0 |
|
|
|
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
|
Notes payable to banks |
$ |
— |
|
|
$ |
— |
|
|
$ |
408.3 |
|
|
$ |
— |
|
|
$ |
408.3 |
|
Current maturities of long-term debt |
765.6 |
|
|
18.0 |
|
|
73.1 |
|
|
— |
|
|
856.7 |
|
Accounts payable |
37.7 |
|
|
100.7 |
|
|
290.9 |
|
|
— |
|
|
429.3 |
|
Accrued excise taxes |
14.7 |
|
|
14.7 |
|
|
4.2 |
|
|
— |
|
|
33.6 |
|
Intercompany payable |
22,293.3 |
|
|
19,018.6 |
|
|
9,299.8 |
|
|
(50,611.7 |
) |
|
— |
|
Other accrued expenses and liabilities |
349.1 |
|
|
185.1 |
|
|
119.4 |
|
|
(109.2 |
) |
|
544.4 |
|
Total current liabilities |
23,460.4 |
|
|
19,337.1 |
|
|
10,195.7 |
|
|
(50,720.9 |
) |
|
2,272.3 |
|
Long-term debt, less current maturities |
5,421.4 |
|
|
26.3 |
|
|
1,368.5 |
|
|
— |
|
|
6,816.2 |
|
Deferred income taxes |
11.9 |
|
|
734.8 |
|
|
275.5 |
|
|
— |
|
|
1,022.2 |
|
Intercompany notes payable |
— |
|
|
4,776.6 |
|
|
15.9 |
|
|
(4,792.5 |
) |
|
— |
|
Other liabilities |
29.9 |
|
|
39.1 |
|
|
93.5 |
|
|
— |
|
|
162.5 |
|
Total liabilities |
28,923.6 |
|
|
24,913.9 |
|
|
11,949.1 |
|
|
(55,513.4 |
) |
|
10,273.2 |
|
Total CBI stockholders’ equity |
6,559.6 |
|
|
8,825.1 |
|
|
4,325.4 |
|
|
(13,150.5 |
) |
|
6,559.6 |
|
Noncontrolling interests |
— |
|
|
— |
|
|
132.2 |
|
|
— |
|
|
132.2 |
|
Total stockholders’ equity |
6,559.6 |
|
|
8,825.1 |
|
|
4,457.6 |
|
|
(13,150.5 |
) |
|
6,691.8 |
|
Total liabilities and stockholders’ equity |
$ |
35,483.2 |
|
|
$ |
33,739.0 |
|
|
$ |
16,406.7 |
|
|
$ |
(68,663.9 |
) |
|
$ |
16,965.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Balance Sheet at February 28, 2015 |
Current assets: |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
$ |
24.5 |
|
|
$ |
0.7 |
|
|
$ |
84.9 |
|
|
$ |
— |
|
|
$ |
110.1 |
|
Accounts receivable |
0.8 |
|
|
27.3 |
|
|
570.8 |
|
|
— |
|
|
598.9 |
|
Inventories |
153.3 |
|
|
1,419.0 |
|
|
357.7 |
|
|
(102.8 |
) |
|
1,827.2 |
|
Intercompany receivable |
13,158.7 |
|
|
18,389.9 |
|
|
6,512.0 |
|
|
(38,060.6 |
) |
|
— |
|
Prepaid expenses and other |
46.2 |
|
|
94.0 |
|
|
427.0 |
|
|
(192.6 |
) |
|
374.6 |
|
Total current assets |
13,383.5 |
|
|
19,930.9 |
|
|
7,952.4 |
|
|
(38,356.0 |
) |
|
2,910.8 |
|
Property, plant and equipment |
59.3 |
|
|
854.5 |
|
|
1,767.8 |
|
|
— |
|
|
2,681.6 |
|
Investments in subsidiaries |
11,657.2 |
|
|
13.8 |
|
|
— |
|
|
(11,671.0 |
) |
|
— |
|
Goodwill |
— |
|
|
5,411.3 |
|
|
796.9 |
|
|
— |
|
|
6,208.2 |
|
Intangible assets |
— |
|
|
703.3 |
|
|
2,474.3 |
|
|
3.4 |
|
|
3,181.0 |
|
Intercompany notes receivable |
4,087.3 |
|
|
129.9 |
|
|
— |
|
|
(4,217.2 |
) |
|
— |
|
Other assets |
18.0 |
|
|
68.4 |
|
|
25.0 |
|
|
— |
|
|
111.4 |
|
Total assets |
$ |
29,205.3 |
|
|
$ |
27,112.1 |
|
|
$ |
13,016.4 |
|
|
$ |
(54,240.8 |
) |
|
$ |
15,093.0 |
|
|
|
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
|
Notes payable to banks |
$ |
— |
|
|
$ |
— |
|
|
$ |
52.4 |
|
|
$ |
— |
|
|
$ |
52.4 |
|
Current maturities of long-term debt |
92.3 |
|
|
16.9 |
|
|
48.9 |
|
|
— |
|
|
158.1 |
|
Accounts payable |
41.2 |
|
|
113.2 |
|
|
131.4 |
|
|
— |
|
|
285.8 |
|
Accrued excise taxes |
12.6 |
|
|
11.3 |
|
|
4.8 |
|
|
— |
|
|
28.7 |
|
Intercompany payable |
17,206.7 |
|
|
14,201.6 |
|
|
6,652.3 |
|
|
(38,060.6 |
) |
|
— |
|
Other accrued expenses and liabilities |
462.5 |
|
|
211.2 |
|
|
156.9 |
|
|
(224.9 |
) |
|
605.7 |
|
Total current liabilities |
17,815.3 |
|
|
14,554.2 |
|
|
7,046.7 |
|
|
(38,285.5 |
) |
|
1,130.7 |
|
Long-term debt, less current maturities |
5,558.0 |
|
|
30.9 |
|
|
1,497.1 |
|
|
— |
|
|
7,086.0 |
|
Deferred income taxes |
17.6 |
|
|
633.6 |
|
|
167.7 |
|
|
— |
|
|
818.9 |
|
Intercompany notes payable |
— |
|
|
3,863.4 |
|
|
353.8 |
|
|
(4,217.2 |
) |
|
— |
|
Other liabilities |
43.7 |
|
|
36.7 |
|
|
95.7 |
|
|
— |
|
|
176.1 |
|
Total liabilities |
23,434.6 |
|
|
19,118.8 |
|
|
9,161.0 |
|
|
(42,502.7 |
) |
|
9,211.7 |
|
Total CBI stockholders’ equity |
5,770.7 |
|
|
7,993.3 |
|
|
3,744.8 |
|
|
(11,738.1 |
) |
|
5,770.7 |
|
Noncontrolling interests |
— |
|
|
— |
|
|
110.6 |
|
|
— |
|
|
110.6 |
|
Total stockholders’ equity |
5,770.7 |
|
|
7,993.3 |
|
|
3,855.4 |
|
|
(11,738.1 |
) |
|
5,881.3 |
|
Total liabilities and stockholders’ equity |
$ |
29,205.3 |
|
|
$ |
27,112.1 |
|
|
$ |
13,016.4 |
|
|
$ |
(54,240.8 |
) |
|
$ |
15,093.0 |
|
|
| Condensed Consolidating Statement of Comprehensive Income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Comprehensive Income for the Year Ended February 29, 2016 |
Sales |
$ |
2,522.8 |
|
|
$ |
5,614.9 |
|
|
$ |
3,024.5 |
|
|
$ |
(3,938.4 |
) |
|
$ |
7,223.8 |
|
Less – excise taxes |
(332.6 |
) |
|
(281.1 |
) |
|
(61.7 |
) |
|
— |
|
|
(675.4 |
) |
Net sales |
2,190.2 |
|
|
5,333.8 |
|
|
2,962.8 |
|
|
(3,938.4 |
) |
|
6,548.4 |
|
Cost of product sold |
(1,759.6 |
) |
|
(3,906.2 |
) |
|
(1,823.8 |
) |
|
3,883.5 |
|
|
(3,606.1 |
) |
Gross profit |
430.6 |
|
|
1,427.6 |
|
|
1,139.0 |
|
|
(54.9 |
) |
|
2,942.3 |
|
Selling, general and administrative expenses |
(378.4 |
) |
|
(652.6 |
) |
|
(176.5 |
) |
|
30.3 |
|
|
(1,177.2 |
) |
Operating income |
52.2 |
|
|
775.0 |
|
|
962.5 |
|
|
(24.6 |
) |
|
1,765.1 |
|
Equity in earnings of equity method investees and subsidiaries |
1,224.2 |
|
|
31.2 |
|
|
0.5 |
|
|
(1,229.3 |
) |
|
26.6 |
|
Dividend income |
— |
|
|
— |
|
|
24.5 |
|
|
— |
|
|
24.5 |
|
Interest income |
0.2 |
|
|
— |
|
|
0.6 |
|
|
— |
|
|
0.8 |
|
Intercompany interest income |
191.4 |
|
|
268.0 |
|
|
0.1 |
|
|
(459.5 |
) |
|
— |
|
Interest expense |
(290.1 |
) |
|
(0.2 |
) |
|
(24.4 |
) |
|
— |
|
|
(314.7 |
) |
Intercompany interest expense |
(267.4 |
) |
|
(191.3 |
) |
|
(0.8 |
) |
|
459.5 |
|
|
— |
|
Loss on write-off of debt issuance costs |
(0.4 |
) |
|
— |
|
|
(0.7 |
) |
|
— |
|
|
(1.1 |
) |
Income before income taxes |
910.1 |
|
|
882.7 |
|
|
962.3 |
|
|
(1,253.9 |
) |
|
1,501.2 |
|
(Provision for) benefit from income taxes |
144.8 |
|
|
(346.3 |
) |
|
(247.4 |
) |
|
8.3 |
|
|
(440.6 |
) |
Net income |
1,054.9 |
|
|
536.4 |
|
|
714.9 |
|
|
(1,245.6 |
) |
|
1,060.6 |
|
Net income attributable to noncontrolling interests |
— |
|
|
— |
|
|
(5.7 |
) |
|
— |
|
|
(5.7 |
) |
Net income attributable to CBI |
$ |
1,054.9 |
|
|
$ |
536.4 |
|
|
$ |
709.2 |
|
|
$ |
(1,245.6 |
) |
|
$ |
1,054.9 |
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income attributable to CBI |
$ |
733.3 |
|
|
$ |
531.9 |
|
|
$ |
383.7 |
|
|
$ |
(915.6 |
) |
|
$ |
733.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Comprehensive Income for the Year Ended February 28, 2015 |
Sales |
$ |
2,406.4 |
|
|
$ |
5,078.3 |
|
|
$ |
3,004.1 |
|
|
$ |
(3,816.7 |
) |
|
$ |
6,672.1 |
|
Less – excise taxes |
(324.8 |
) |
|
(251.6 |
) |
|
(67.7 |
) |
|
— |
|
|
(644.1 |
) |
Net sales |
2,081.6 |
|
|
4,826.7 |
|
|
2,936.4 |
|
|
(3,816.7 |
) |
|
6,028.0 |
|
Cost of product sold |
(1,678.4 |
) |
|
(3,629.0 |
) |
|
(1,870.3 |
) |
|
3,728.3 |
|
|
(3,449.4 |
) |
Gross profit |
403.2 |
|
|
1,197.7 |
|
|
1,066.1 |
|
|
(88.4 |
) |
|
2,578.6 |
|
Selling, general and administrative expenses |
(388.2 |
) |
|
(470.1 |
) |
|
(273.4 |
) |
|
53.3 |
|
|
(1,078.4 |
) |
Operating income |
15.0 |
|
|
727.6 |
|
|
792.7 |
|
|
(35.1 |
) |
|
1,500.2 |
|
Equity in earnings of equity method investees and subsidiaries |
828.0 |
|
|
24.6 |
|
|
1.2 |
|
|
(832.3 |
) |
|
21.5 |
|
Interest income |
0.1 |
|
|
— |
|
|
1.3 |
|
|
— |
|
|
1.4 |
|
Intercompany interest income |
177.8 |
|
|
222.7 |
|
|
— |
|
|
(400.5 |
) |
|
— |
|
Interest expense |
(296.4 |
) |
|
(1.4 |
) |
|
(41.3 |
) |
|
— |
|
|
(339.1 |
) |
Intercompany interest expense |
(222.0 |
) |
|
(177.6 |
) |
|
(0.9 |
) |
|
400.5 |
|
|
— |
|
Loss on write-off of debt issuance costs |
— |
|
|
— |
|
|
(4.4 |
) |
|
— |
|
|
(4.4 |
) |
Income before income taxes |
502.5 |
|
|
795.9 |
|
|
748.6 |
|
|
(867.4 |
) |
|
1,179.6 |
|
(Provision for) benefit from income taxes |
336.8 |
|
|
(295.5 |
) |
|
(395.7 |
) |
|
11.0 |
|
|
(343.4 |
) |
Net income |
839.3 |
|
|
500.4 |
|
|
352.9 |
|
|
(856.4 |
) |
|
836.2 |
|
Net loss attributable to noncontrolling interests |
— |
|
|
— |
|
|
3.1 |
|
|
— |
|
|
3.1 |
|
Net income attributable to CBI |
$ |
839.3 |
|
|
$ |
500.4 |
|
|
$ |
356.0 |
|
|
$ |
(856.4 |
) |
|
$ |
839.3 |
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income attributable to CBI |
$ |
622.4 |
|
|
$ |
503.7 |
|
|
$ |
132.2 |
|
|
$ |
(635.9 |
) |
|
$ |
622.4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Comprehensive Income for the Year Ended February 28, 2014 |
Sales |
$ |
2,351.8 |
|
|
$ |
3,868.3 |
|
|
$ |
2,093.9 |
|
|
$ |
(2,903.0 |
) |
|
$ |
5,411.0 |
|
Less – excise taxes |
(317.3 |
) |
|
(155.9 |
) |
|
(70.1 |
) |
|
— |
|
|
(543.3 |
) |
Net sales |
2,034.5 |
|
|
3,712.4 |
|
|
2,023.8 |
|
|
(2,903.0 |
) |
|
4,867.7 |
|
Cost of product sold |
(1,730.3 |
) |
|
(2,661.6 |
) |
|
(1,312.1 |
) |
|
2,828.0 |
|
|
(2,876.0 |
) |
Gross profit |
304.2 |
|
|
1,050.8 |
|
|
711.7 |
|
|
(75.0 |
) |
|
1,991.7 |
|
Selling, general and administrative expenses |
(395.4 |
) |
|
(361.7 |
) |
|
(155.0 |
) |
|
17.0 |
|
|
(895.1 |
) |
Impairment of goodwill and intangible assets |
— |
|
|
— |
|
|
(300.9 |
) |
|
— |
|
|
(300.9 |
) |
Gain on remeasurement to fair value of equity method investment |
— |
|
|
1,642.0 |
|
|
— |
|
|
— |
|
|
1,642.0 |
|
Operating income (loss) |
(91.2 |
) |
|
2,331.1 |
|
|
255.8 |
|
|
(58.0 |
) |
|
2,437.7 |
|
Equity in earnings of equity method investees and subsidiaries |
2,219.2 |
|
|
92.7 |
|
|
0.6 |
|
|
(2,224.7 |
) |
|
87.8 |
|
Interest income |
0.1 |
|
|
— |
|
|
7.6 |
|
|
— |
|
|
7.7 |
|
Intercompany interest income |
152.4 |
|
|
168.5 |
|
|
1.5 |
|
|
(322.4 |
) |
|
— |
|
Interest expense |
(283.2 |
) |
|
(2.5 |
) |
|
(45.2 |
) |
|
— |
|
|
(330.9 |
) |
Intercompany interest expense |
(168.1 |
) |
|
(153.6 |
) |
|
(0.7 |
) |
|
322.4 |
|
|
— |
|
Income before income taxes |
1,829.2 |
|
|
2,436.2 |
|
|
219.6 |
|
|
(2,282.7 |
) |
|
2,202.3 |
|
(Provision for) benefit from income taxes |
113.9 |
|
|
(292.5 |
) |
|
(100.1 |
) |
|
19.5 |
|
|
(259.2 |
) |
Net income |
1,943.1 |
|
|
2,143.7 |
|
|
119.5 |
|
|
(2,263.2 |
) |
|
1,943.1 |
|
Net income attributable to noncontrolling interests |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Net income attributable to CBI |
$ |
1,943.1 |
|
|
$ |
2,143.7 |
|
|
$ |
119.5 |
|
|
$ |
(2,263.2 |
) |
|
$ |
1,943.1 |
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income attributable to CBI |
$ |
1,897.0 |
|
|
$ |
2,167.7 |
|
|
$ |
64.0 |
|
|
$ |
(2,231.7 |
) |
|
$ |
1,897.0 |
|
|
| Condensed Consolidating Statement of Cash Flows |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Cash Flows for the Year Ended February 29, 2016 |
Net cash provided by (used in) operating activities |
$ |
(476.2 |
) |
|
$ |
1,249.6 |
|
|
$ |
667.8 |
|
|
$ |
(27.5 |
) |
|
$ |
1,413.7 |
|
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
|
Purchases of businesses, net of cash acquired |
— |
|
|
(1,314.7 |
) |
|
(1.7 |
) |
|
— |
|
|
(1,316.4 |
) |
Purchases of property, plant and equipment |
(14.1 |
) |
|
(61.6 |
) |
|
(815.6 |
) |
|
— |
|
|
(891.3 |
) |
Net proceeds from intercompany notes |
143.9 |
|
|
44.9 |
|
|
— |
|
|
(188.8 |
) |
|
— |
|
Net investments in equity affiliates |
(550.1 |
) |
|
— |
|
|
— |
|
|
550.1 |
|
|
— |
|
Other investing activities |
3.5 |
|
|
0.2 |
|
|
(3.4 |
) |
|
— |
|
|
0.3 |
|
Net cash used in investing activities |
(416.8 |
) |
|
(1,331.2 |
) |
|
(820.7 |
) |
|
361.3 |
|
|
(2,207.4 |
) |
|
|
|
|
|
|
|
|
|
|
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
|
Dividends paid to parent company |
— |
|
|
— |
|
|
(88.8 |
) |
|
88.8 |
|
|
— |
|
Net contributions from equity affiliates |
60.9 |
|
|
266.8 |
|
|
283.7 |
|
|
(611.4 |
) |
|
— |
|
Net proceeds from (repayments of) intercompany notes |
250.4 |
|
|
(106.4 |
) |
|
(332.8 |
) |
|
188.8 |
|
|
— |
|
Proceeds from issuance of long-term debt |
600.0 |
|
|
— |
|
|
10.0 |
|
|
— |
|
|
610.0 |
|
Net proceeds from notes payable |
— |
|
|
— |
|
|
360.6 |
|
|
— |
|
|
360.6 |
|
Excess tax benefits from stock-based payment awards |
203.4 |
|
|
— |
|
|
— |
|
|
— |
|
|
203.4 |
|
Proceeds from shares issued under equity compensation plans |
113.0 |
|
|
— |
|
|
— |
|
|
— |
|
|
113.0 |
|
Proceeds from noncontrolling interests |
— |
|
|
— |
|
|
25.0 |
|
|
— |
|
|
25.0 |
|
Dividends paid |
(241.6 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(241.6 |
) |
Principal payments of long-term debt |
(64.5 |
) |
|
(39.4 |
) |
|
(104.8 |
) |
|
— |
|
|
(208.7 |
) |
Payments of minimum tax withholdings on stock-based payment awards |
— |
|
|
(35.9 |
) |
|
(2.7 |
) |
|
— |
|
|
(38.6 |
) |
Purchases of treasury stock |
(33.8 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(33.8 |
) |
Payments of debt issuance costs |
(13.3 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(13.3 |
) |
Net cash provided by financing activities |
874.5 |
|
|
85.1 |
|
|
150.2 |
|
|
(333.8 |
) |
|
776.0 |
|
|
|
|
|
|
|
|
|
|
|
Effect of exchange rate changes on cash and cash equivalents |
— |
|
|
— |
|
|
(9.3 |
) |
|
— |
|
|
(9.3 |
) |
|
|
|
|
|
|
|
|
|
|
Net increase (decrease) in cash and cash equivalents |
(18.5 |
) |
|
3.5 |
|
|
(12.0 |
) |
|
— |
|
|
(27.0 |
) |
Cash and cash equivalents, beginning of year |
24.5 |
|
|
0.7 |
|
|
84.9 |
|
|
— |
|
|
110.1 |
|
Cash and cash equivalents, end of year |
$ |
6.0 |
|
|
$ |
4.2 |
|
|
$ |
72.9 |
|
|
$ |
— |
|
|
$ |
83.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Cash Flows for the Year Ended February 28, 2015 |
Net cash provided by (used in) operating activities |
$ |
(553.6 |
) |
|
$ |
784.5 |
|
|
$ |
850.1 |
|
|
$ |
— |
|
|
$ |
1,081.0 |
|
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
|
Purchases of businesses, net of cash acquired |
— |
|
|
— |
|
|
(310.3 |
) |
|
— |
|
|
(310.3 |
) |
Purchases of property, plant and equipment |
(23.1 |
) |
|
(83.7 |
) |
|
(612.6 |
) |
|
— |
|
|
(719.4 |
) |
Net proceeds from intercompany notes |
485.4 |
|
|
— |
|
|
— |
|
|
(485.4 |
) |
|
— |
|
Net investments in equity affiliates |
(2.6 |
) |
|
— |
|
|
— |
|
|
2.6 |
|
|
— |
|
Other investing activities |
(0.1 |
) |
|
(5.6 |
) |
|
19.5 |
|
|
— |
|
|
13.8 |
|
Net cash provided by (used in) investing activities |
459.6 |
|
|
(89.3 |
) |
|
(903.4 |
) |
|
(482.8 |
) |
|
(1,015.9 |
) |
|
|
|
|
|
|
|
|
|
|
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
|
Dividends paid to parent company |
— |
|
|
— |
|
|
(38.8 |
) |
|
38.8 |
|
|
— |
|
Net contributions from (returns of capital to) equity affiliates |
— |
|
|
(31.5 |
) |
|
72.9 |
|
|
(41.4 |
) |
|
— |
|
Net proceeds from (repayments of) intercompany notes |
(262.8 |
) |
|
(618.1 |
) |
|
395.5 |
|
|
485.4 |
|
|
— |
|
Proceeds from issuance of long-term debt |
800.0 |
|
|
— |
|
|
105.0 |
|
|
— |
|
|
905.0 |
|
Net proceeds from notes payable |
— |
|
|
— |
|
|
13.1 |
|
|
— |
|
|
13.1 |
|
Excess tax benefits from stock-based payment awards |
78.0 |
|
|
— |
|
|
— |
|
|
— |
|
|
78.0 |
|
Proceeds from shares issued under equity compensation plans |
63.7 |
|
|
— |
|
|
— |
|
|
— |
|
|
63.7 |
|
Proceeds from noncontrolling interests |
— |
|
|
— |
|
|
115.0 |
|
|
— |
|
|
115.0 |
|
Principal payments of long-term debt |
(549.2 |
) |
|
(19.6 |
) |
|
(36.9 |
) |
|
— |
|
|
(605.7 |
) |
Payments of minimum tax withholdings on stock-based payment awards |
— |
|
|
(26.1 |
) |
|
(2.3 |
) |
|
— |
|
|
(28.4 |
) |
Payments of debt issuance costs |
(11.7 |
) |
|
— |
|
|
(2.1 |
) |
|
— |
|
|
(13.8 |
) |
Payment of delayed purchase price arrangement |
— |
|
|
— |
|
|
(543.3 |
) |
|
— |
|
|
(543.3 |
) |
Net cash provided by (used in) financing activities |
118.0 |
|
|
(695.3 |
) |
|
78.1 |
|
|
482.8 |
|
|
(16.4 |
) |
|
|
|
|
|
|
|
|
|
|
Effect of exchange rate changes on cash and cash equivalents |
— |
|
|
— |
|
|
(2.5 |
) |
|
— |
|
|
(2.5 |
) |
|
|
|
|
|
|
|
|
|
|
Net increase (decrease) in cash and cash equivalents |
24.0 |
|
|
(0.1 |
) |
|
22.3 |
|
|
— |
|
|
46.2 |
|
Cash and cash equivalents, beginning of year |
0.5 |
|
|
0.8 |
|
|
62.6 |
|
|
— |
|
|
63.9 |
|
Cash and cash equivalents, end of year |
$ |
24.5 |
|
|
$ |
0.7 |
|
|
$ |
84.9 |
|
|
$ |
— |
|
|
$ |
110.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Cash Flows for the Year Ended February 28, 2014 |
Net cash provided by (used in) operating activities |
$ |
(466.1 |
) |
|
$ |
1,070.7 |
|
|
$ |
240.4 |
|
|
$ |
(18.8 |
) |
|
$ |
826.2 |
|
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
|
Purchase of business, net of cash acquired |
— |
|
|
(1,770.0 |
) |
|
(2,911.3 |
) |
|
— |
|
|
(4,681.3 |
) |
Purchases of property, plant and equipment |
(5.4 |
) |
|
(61.4 |
) |
|
(156.7 |
) |
|
— |
|
|
(223.5 |
) |
Net proceeds from intercompany notes |
972.6 |
|
|
— |
|
|
— |
|
|
(972.6 |
) |
|
— |
|
Net returns of capital from (investments in) equity affiliates |
(1,133.2 |
) |
|
(5.1 |
) |
|
0.1 |
|
|
1,138.2 |
|
|
— |
|
Other investing activities |
— |
|
|
2.4 |
|
|
38.6 |
|
|
— |
|
|
41.0 |
|
Net cash used in investing activities |
(166.0 |
) |
|
(1,834.1 |
) |
|
(3,029.3 |
) |
|
165.6 |
|
|
(4,863.8 |
) |
|
|
|
|
|
|
|
|
|
|
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
|
Dividends paid to parent company |
— |
|
|
— |
|
|
(84.3 |
) |
|
84.3 |
|
|
— |
|
Net contributions from (returns of capital to) equity affiliates |
— |
|
|
(172.8 |
) |
|
1,376.5 |
|
|
(1,203.7 |
) |
|
— |
|
Net proceeds from (repayments of) intercompany notes |
(1,850.1 |
) |
|
972.9 |
|
|
(95.4 |
) |
|
972.6 |
|
|
— |
|
Proceeds from issuance of long-term debt |
2,225.0 |
|
|
— |
|
|
1,500.0 |
|
|
— |
|
|
3,725.0 |
|
Net proceeds from notes payable |
— |
|
|
— |
|
|
57.3 |
|
|
— |
|
|
57.3 |
|
Excess tax benefits from stock-based payment awards |
65.4 |
|
|
— |
|
|
— |
|
|
— |
|
|
65.4 |
|
Proceeds from shares issued under equity compensation plans |
125.9 |
|
|
— |
|
|
— |
|
|
— |
|
|
125.9 |
|
Principal payments of long-term debt |
(49.8 |
) |
|
(20.2 |
) |
|
(26.4 |
) |
|
— |
|
|
(96.4 |
) |
Payments of minimum tax withholdings on stock-based payment awards |
— |
|
|
(16.4 |
) |
|
(1.6 |
) |
|
— |
|
|
(18.0 |
) |
Payments of debt issuance costs |
(69.6 |
) |
|
— |
|
|
(12.6 |
) |
|
— |
|
|
(82.2 |
) |
Net cash provided by financing activities |
446.8 |
|
|
763.5 |
|
|
2,713.5 |
|
|
(146.8 |
) |
|
3,777.0 |
|
|
|
|
|
|
|
|
|
|
|
Effect of exchange rate changes on cash and cash equivalents |
— |
|
|
— |
|
|
(7.0 |
) |
|
— |
|
|
(7.0 |
) |
|
|
|
|
|
|
|
|
|
|
Net increase (decrease) in cash and cash equivalents |
(185.3 |
) |
|
0.1 |
|
|
(82.4 |
) |
|
— |
|
|
(267.6 |
) |
Cash and cash equivalents, beginning of year |
185.8 |
|
|
0.7 |
|
|
145.0 |
|
|
— |
|
|
331.5 |
|
Cash and cash equivalents, end of year |
$ |
0.5 |
|
|
$ |
0.8 |
|
|
$ |
62.6 |
|
|
$ |
— |
|
|
$ |
63.9 |
|
|