Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.5.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
 3 Months Ended
May 31, 2016
May 31, 2015
Cash flows from operating activities:    
Net income $ 319.1 $ 240.2
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred tax provision 56.0 38.3
Depreciation 55.8 43.0
Stock-based compensation 16.0 12.3
Amortization of intangible assets 4.2 11.7
Amortization of debt issuance costs 3.2 3.2
Change in operating assets and liabilities, net of effects from purchase of business:    
Accounts receivable (39.0) (98.3)
Inventories (19.0) 37.0
Prepaid expenses and other current assets (31.6) 0.6
Accounts payable 55.9 21.1
Accrued excise taxes 6.0 2.2
Other accrued expenses and liabilities (75.4) (105.2)
Other (5.3) (0.4)
Total adjustments 26.8 (34.5)
Net cash provided by operating activities 345.9 205.7
Cash flows from investing activities:    
Purchase of business (284.9) 0.0
Purchases of property, plant and equipment (169.4) (129.7)
Other investing activities 0.4 (1.6)
Net cash used in investing activities (453.9) (131.3)
Cash flows from financing activities:    
Proceeds from issuance of long-term debt 700.0 0.0
Excess tax benefits from stock-based payment awards 68.8 63.6
Proceeds from shares issued under equity compensation plans 15.9 9.6
Proceeds from noncontrolling interests 9.5 0.0
Net proceeds from (repayments of) notes payable (379.1) 50.9
Principal payments of long-term debt (94.2) (79.4)
Dividends paid (79.3) (59.8)
Payments of minimum tax withholdings on stock-based payment awards (45.5) (38.3)
Payments of debt issuance costs (3.2) 0.0
Purchases of treasury stock (1.0) 0.0
Net cash provided by (used in) financing activities 191.9 (53.4)
Effect of exchange rate changes on cash and cash equivalents 0.3 (0.4)
Net increase in cash and cash equivalents 84.2 20.6
Cash and cash equivalents, beginning of period 83.1 110.1
Cash and cash equivalents, end of period 167.3 130.7
Supplemental disclosures of noncash investing and financing activities:    
Noncash additions to property, plant and equipment $ 88.0 $ 34.1