Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v2.4.0.6
Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Millions, unless otherwise specified
 9 Months Ended
Nov. 30, 2012
Nov. 30, 2011
Nov. 30, 2012
Mark West [Member]
Nov. 30, 2011
Ruffino [Member]
CASH FLOWS FROM OPERATING ACTIVITIES:        
Net income $ 306.1 $ 342.0    
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation of property, plant and equipment 80.0 71.6    
Deferred tax provision 40.5 36.8    
Stock-based compensation expense 31.3 37.5    
Equity in earnings of equity method investees, net of distributed earnings 23.5 27.1    
Amortization of intangible and other assets 8.5 9.0    
Loss on extinguishment of debt 2.8 0    
Gain on disposal of long-lived assets, net (0.1) 0    
Gain on business sold, net 0 (3.0)    
Gain on obligation from put option of Ruffino shareholder 0 (2.5)    
Change in operating assets and liabilities, net of effects from purchase of business:        
Accounts receivable, net (104.2) (139.5)    
Inventories (196.7) (37.8)    
Prepaid expenses and other current assets (0.3) 13.6    
Accounts payable 170.7 135.3    
Accrued excise taxes (6.7) 9.4    
Other accrued expenses and liabilities 26.4 133.9    
Other, net 7.2 7.4    
Total adjustments 82.9 298.8    
Net cash provided by operating activities 389.0 640.8    
CASH FLOWS FROM INVESTING ACTIVITIES:        
Purchase of business, net of cash acquired (159.3) (51.5) (159.3) (51.5)
Purchases of property, plant and equipment (52.2) (54.1)    
Payments related to sale of business (0.5) (26.9)    
Proceeds from sales of assets 8.0 0.6    
Proceeds from notes receivable 4.6 1.0    
Proceeds from redemption of available-for-sale debt securities 0 20.2    
Other investing activities (0.8) (8.0)    
Net cash used in investing activities (200.2) (118.7)    
CASH FLOWS FROM FINANCING ACTIVITIES:        
Principal payments of long-term debt (851.6) (470.5)    
Payment of restricted cash upon issuance of long-term debt (650.0) 0    
Purchases of treasury stock (383.0) (281.3)    
Net (repayment of) proceeds from notes payable (356.0) 223.2    
Payment of financing costs of long-term debt (35.2) 0    
Payment of minimum tax withholdings on stock-based payment awards (0.5) (2.2)    
Proceeds from issuance of long-term debt 2,050.0 0    
Proceeds from exercises of employee stock options 135.0 42.3    
Excess tax benefits from stock-based payment awards 17.2 11.1    
Proceeds from employee stock purchases 2.1 2.4    
Net cash used in financing activities (72.0) (475.0)    
Effect of exchange rate changes on cash and cash investments (2.1) (0.5)    
NET INCREASE IN CASH AND CASH INVESTMENTS 114.7 46.6    
CASH AND CASH INVESTMENTS, beginning of period 85.8 9.2    
CASH AND CASH INVESTMENTS, end of period 200.5 55.8    
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES:        
Fair value of assets acquired, including cash acquired     159.3 155.7
Liabilities assumed     0 (132.2)
Net assets acquired     159.3 23.5
Plus – settlement of contractual obligation from put option of shareholder     0 56.7
Less – fair value of previously owned 49.9% equity interest     0 (11.6)
Less - cash acquired     0 (17.1)
Net cash paid for purchase of business 159.3 51.5 159.3 51.5
Property, plant and equipment acquired under financing arrangements $ 24.0 $ 23.4