Constellation Brands, Inc. Quarterly report pursuant to Section 13 or 15(d)

Business Segment Information (Tables)

3 Months Ended

May 31, 2016

Comparable Adjustments that impacted comparability in our segment operating income (loss) for each period are as follows:



	For the Three Months Ended May 31,
	2016			2015
(in millions)
Cost of product sold
Net gain (loss) on undesignated commodity derivative contracts	$	13.1		$	(5.2	)
Settlements of undesignated commodity derivative contracts	8.3			5.5
Flow through of inventory step-up	(8.1		)	—
Amortization of favorable interim supply agreement	(2.2		)	(8.9		)
Total cost of product sold	11.1			(8.6		)

Selling, general and administrative expenses
Costs associated with a potential initial public offering	(3.7		)	—
Transaction, integration and other acquisition-related costs	(2.3		)	(5.3		)
Restructuring and related charges	(1.1		)	(13.0		)
Total selling, general and administrative expenses	(7.1		)	(18.3		)
Comparable Adjustments, Operating income (loss)	$	4.0		$	(26.9	)

Segment information is as follows:



	For the Three Months Ended May 31,
	2016		2015
(in millions)
Beer
Net sales	$	1,151.0	$	965.8
Segment operating income	$	409.3	$	336.5
Long-lived tangible assets	$	2,362.3	$	1,570.7
Total assets	$	10,276.3	$	8,409.2
Capital expenditures	$	145.0	$	111.5
Depreciation and amortization	$	25.9	$	14.3



	For the Three Months Ended May 31,
	2016			2015
(in millions)
Wine and Spirits
Net sales:
Wine	$	643.1		$	587.8
Spirits	77.7			77.7
Net sales	$	720.8		$	665.5
Segment operating income	$	168.0		$	144.2
Equity in earnings of equity method investees	$	0.8		$	1.0
Long-lived tangible assets	$	1,035.3		$	1,053.6
Investments in equity method investees	$	76.5		$	73.7
Total assets	$	6,984.8		$	6,425.1
Capital expenditures	$	12.5		$	16.7
Depreciation and amortization	$	24.9		$	24.2

Corporate Operations and Other
Segment operating loss	$	(28.6	)	$	(26.5	)
Equity in losses of equity method investees	$	(0.1	)	$	—
Long-lived tangible assets	$	109.6		$	117.8
Investments in equity method investees	$	5.9		$	—
Total assets	$	368.9		$	364.3
Capital expenditures	$	11.9		$	1.5
Depreciation and amortization	$	7.0		$	7.3

Comparable Adjustments
Operating income (loss)	$	4.0		$	(26.9	)
Depreciation and amortization	$	2.2		$	8.9

Consolidated
Net sales	$	1,871.8		$	1,631.3
Operating income	$	552.7		$	427.3
Equity in earnings of equity method investees	$	0.7		$	1.0
Long-lived tangible assets	$	3,507.2		$	2,742.1
Investments in equity method investees	$	82.4		$	73.7
Total assets	$	17,630.0		$	15,198.6
Capital expenditures	$	169.4		$	129.7
Depreciation and amortization	$	60.0		$	54.7