| CONDENSED CONSOLIDATING FINANCIAL INFORMATION |
CONDENSED CONSOLIDATING FINANCIAL INFORMATION:
The following information sets forth the condensed consolidating balance sheets as of November 30, 2012, and February 29, 2012, the condensed consolidating statements of comprehensive income for the nine months and three months ended November 30, 2012, and November 30, 2011, and the condensed consolidating statements of cash flows for the nine months ended November 30, 2012, and November 30, 2011, for the Company, the parent company, the combined subsidiaries of the Company which guarantee the Company’s senior notes (“Subsidiary Guarantors”) and the combined subsidiaries of the Company which are not Subsidiary Guarantors (primarily foreign subsidiaries) (“Subsidiary Nonguarantors”). The Subsidiary Guarantors are 100% owned, directly or indirectly, by the parent company and the guarantees are joint and several obligations of each of the Subsidiary Guarantors. The guarantees are full and unconditional, as those terms are used in Rule 3-10 of Regulation S-X, except that a Subsidiary Guarantor can be automatically released and relieved of its obligations under certain customary circumstances contained in the indentures governing the Company’s senior notes. These customary circumstances include, so long as other applicable provisions of the indentures are adhered to, the termination or release of a Subsidiary Guarantor’s guarantee of other indebtedness or upon the legal defeasance or covenant defeasance or satisfaction and discharge of the Company’s senior notes. Separate financial statements for the Subsidiary Guarantors of the Company are not presented because the Company has determined that such financial statements would not be material to investors. The accounting policies of the parent company, the Subsidiary Guarantors and the Subsidiary Nonguarantors are the same as those described for the Company in the Summary of Significant Accounting Policies in Note 1 to the Company’s consolidated financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended February 29, 2012, and include the recently adopted accounting guidance described in Note 2 herein. There are no restrictions on the ability of the Subsidiary Guarantors to transfer funds to the Company in the form of cash dividends, loans or advances.
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|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
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|
|
Condensed Consolidating Balance Sheet at November 30, 2012 |
Current assets: |
|
|
|
|
|
|
|
|
|
Cash and cash investments |
$ |
89.3 |
|
|
$ |
2.2 |
|
|
$ |
109.0 |
|
|
$ |
— |
|
|
$ |
200.5 |
|
Accounts receivable, net |
373.7 |
|
|
77.5 |
|
|
87.9 |
|
|
— |
|
|
539.1 |
|
Inventories |
157.1 |
|
|
1,102.8 |
|
|
342.8 |
|
|
(6.4 |
) |
|
1,596.3 |
|
Prepaid expenses and other |
20.0 |
|
|
122.5 |
|
|
430.1 |
|
|
(427.9 |
) |
|
144.7 |
|
Intercompany (payable) receivable |
(1,194.0 |
) |
|
1,107.8 |
|
|
86.2 |
|
|
— |
|
|
— |
|
Total current assets |
(553.9 |
) |
|
2,412.8 |
|
|
1,056.0 |
|
|
(434.3 |
) |
|
2,480.6 |
|
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|
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|
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|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Property, plant and equipment, net |
50.1 |
|
|
824.7 |
|
|
361.9 |
|
|
— |
|
|
1,236.7 |
|
Investments in subsidiaries |
7,117.4 |
|
|
174.0 |
|
|
— |
|
|
(7,291.4 |
) |
|
— |
|
Goodwill |
— |
|
|
2,098.0 |
|
|
640.4 |
|
|
— |
|
|
2,738.4 |
|
Intangible assets, net |
— |
|
|
687.2 |
|
|
189.4 |
|
|
— |
|
|
876.6 |
|
Restricted cash |
650.3 |
|
|
— |
|
|
— |
|
|
— |
|
|
650.3 |
|
Other assets, net |
58.6 |
|
|
241.1 |
|
|
59.4 |
|
|
(19.0 |
) |
|
340.1 |
|
Total assets |
$ |
7,322.5 |
|
|
$ |
6,437.8 |
|
|
$ |
2,307.1 |
|
|
$ |
(7,744.7 |
) |
|
$ |
8,322.7 |
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Current liabilities: |
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Notes payable to banks |
$ |
— |
|
|
$ |
— |
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|
$ |
16.6 |
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|
$ |
— |
|
|
$ |
16.6 |
|
Current maturities of long-term debt |
34.3 |
|
|
15.5 |
|
|
0.1 |
|
|
— |
|
|
49.9 |
|
Accounts payable |
21.4 |
|
|
233.5 |
|
|
45.5 |
|
|
— |
|
|
300.4 |
|
Accrued excise taxes |
9.0 |
|
|
4.1 |
|
|
5.0 |
|
|
— |
|
|
18.1 |
|
Other accrued expenses and liabilities |
537.5 |
|
|
210.8 |
|
|
84.0 |
|
|
(429.5 |
) |
|
402.8 |
|
Total current liabilities |
602.2 |
|
|
463.9 |
|
|
151.2 |
|
|
(429.5 |
) |
|
787.8 |
|
Long-term debt, less current maturities |
3,908.2 |
|
|
20.7 |
|
|
— |
|
|
— |
|
|
3,928.9 |
|
Deferred income taxes |
10.3 |
|
|
545.1 |
|
|
81.9 |
|
|
(18.9 |
) |
|
618.4 |
|
Other liabilities |
26.5 |
|
|
60.1 |
|
|
125.7 |
|
|
— |
|
|
212.3 |
|
Stockholders’ equity |
2,775.3 |
|
|
5,348.0 |
|
|
1,948.3 |
|
|
(7,296.3 |
) |
|
2,775.3 |
|
Total liabilities and stockholders’ equity |
$ |
7,322.5 |
|
|
$ |
6,437.8 |
|
|
$ |
2,307.1 |
|
|
$ |
(7,744.7 |
) |
|
$ |
8,322.7 |
|
|
|
|
|
|
|
|
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Condensed Consolidating Balance Sheet at February 29, 2012 |
Current assets: |
|
|
|
|
|
|
|
|
|
Cash and cash investments |
$ |
0.5 |
|
|
$ |
0.6 |
|
|
$ |
84.7 |
|
|
$ |
— |
|
|
$ |
85.8 |
|
Accounts receivable, net |
293.2 |
|
|
71.6 |
|
|
72.8 |
|
|
— |
|
|
437.6 |
|
Inventories |
143.0 |
|
|
916.8 |
|
|
322.0 |
|
|
(7.3 |
) |
|
1,374.5 |
|
Prepaid expenses and other |
22.5 |
|
|
116.5 |
|
|
398.6 |
|
|
(401.2 |
) |
|
136.4 |
|
Intercompany (payable) receivable |
(945.6 |
) |
|
849.7 |
|
|
95.9 |
|
|
— |
|
|
— |
|
Total current assets |
(486.4 |
) |
|
1,955.2 |
|
|
974.0 |
|
|
(408.5 |
) |
|
2,034.3 |
|
Property, plant and equipment, net |
56.9 |
|
|
819.3 |
|
|
379.6 |
|
|
— |
|
|
1,255.8 |
|
Investments in subsidiaries |
6,704.7 |
|
|
166.6 |
|
|
— |
|
|
(6,871.3 |
) |
|
— |
|
Goodwill |
— |
|
|
1,987.4 |
|
|
645.5 |
|
|
— |
|
|
2,632.9 |
|
Intangible assets, net |
— |
|
|
673.4 |
|
|
193.0 |
|
|
— |
|
|
866.4 |
|
Restricted cash |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Other assets, net |
20.7 |
|
|
263.3 |
|
|
60.2 |
|
|
(23.7 |
) |
|
320.5 |
|
Total assets |
$ |
6,295.9 |
|
|
$ |
5,865.2 |
|
|
$ |
2,252.3 |
|
|
$ |
(7,303.5 |
) |
|
$ |
7,109.9 |
|
|
|
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
|
Notes payable to banks |
$ |
297.9 |
|
|
$ |
— |
|
|
$ |
80.0 |
|
|
$ |
— |
|
|
$ |
377.9 |
|
Current maturities of long-term debt |
324.3 |
|
|
5.7 |
|
|
0.2 |
|
|
— |
|
|
330.2 |
|
Accounts payable |
23.8 |
|
|
75.7 |
|
|
31.0 |
|
|
— |
|
|
130.5 |
|
Accrued excise taxes |
14.4 |
|
|
6.3 |
|
|
4.1 |
|
|
— |
|
|
24.8 |
|
Other accrued expenses and liabilities |
518.2 |
|
|
138.5 |
|
|
82.5 |
|
|
(403.0 |
) |
|
336.2 |
|
Total current liabilities |
1,178.6 |
|
|
226.2 |
|
|
197.8 |
|
|
(403.0 |
) |
|
1,199.6 |
|
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|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Long-term debt, less current maturities |
2,407.3 |
|
|
14.1 |
|
|
— |
|
|
— |
|
|
2,421.4 |
|
Deferred income taxes |
2.7 |
|
|
534.5 |
|
|
95.1 |
|
|
(23.6 |
) |
|
608.7 |
|
Other liabilities |
31.3 |
|
|
53.5 |
|
|
119.4 |
|
|
— |
|
|
204.2 |
|
Stockholders’ equity |
2,676.0 |
|
|
5,036.9 |
|
|
1,840.0 |
|
|
(6,876.9 |
) |
|
2,676.0 |
|
Total liabilities and stockholders’ equity |
$ |
6,295.9 |
|
|
$ |
5,865.2 |
|
|
$ |
2,252.3 |
|
|
$ |
(7,303.5 |
) |
|
$ |
7,109.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Comprehensive Income for the Nine Months Ended November 30, 2012 |
Sales |
$ |
1,536.7 |
|
|
$ |
1,283.5 |
|
|
$ |
623.7 |
|
|
$ |
(1,060.5 |
) |
|
$ |
2,383.4 |
|
Less – excise taxes |
(158.8 |
) |
|
(74.8 |
) |
|
(49.6 |
) |
|
— |
|
|
(283.2 |
) |
Net sales |
1,377.9 |
|
|
1,208.7 |
|
|
574.1 |
|
|
(1,060.5 |
) |
|
2,100.2 |
|
Cost of product sold |
(1,105.0 |
) |
|
(857.5 |
) |
|
(344.1 |
) |
|
1,052.9 |
|
|
(1,253.7 |
) |
Gross profit |
272.9 |
|
|
351.2 |
|
|
230.0 |
|
|
(7.6 |
) |
|
846.5 |
|
Selling, general and administrative expenses |
(250.3 |
) |
|
(80.5 |
) |
|
(129.0 |
) |
|
9.8 |
|
|
(450.0 |
) |
Restructuring charges |
1.1 |
|
|
(0.5 |
) |
|
(1.7 |
) |
|
0.1 |
|
|
(1.0 |
) |
Operating income |
23.7 |
|
|
270.2 |
|
|
99.3 |
|
|
2.3 |
|
|
395.5 |
|
Equity in earnings of equity method investees and subsidiaries |
430.0 |
|
|
183.5 |
|
|
0.4 |
|
|
(430.3 |
) |
|
183.6 |
|
Interest (expense) income, net |
(256.5 |
) |
|
86.2 |
|
|
3.6 |
|
|
— |
|
|
(166.7 |
) |
Loss on write-off of financing costs |
(2.8 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(2.8 |
) |
Income before income taxes |
194.4 |
|
|
539.9 |
|
|
103.3 |
|
|
(428.0 |
) |
|
409.6 |
|
Benefit from (provision for) income taxes |
111.7 |
|
|
(227.1 |
) |
|
12.4 |
|
|
(0.5 |
) |
|
(103.5 |
) |
Net income |
$ |
306.1 |
|
|
$ |
312.8 |
|
|
$ |
115.7 |
|
|
$ |
(428.5 |
) |
|
$ |
306.1 |
|
Comprehensive income |
$ |
297.7 |
|
|
$ |
311.7 |
|
|
$ |
108.6 |
|
|
$ |
(420.3 |
) |
|
$ |
297.7 |
|
|
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Comprehensive Income for the Nine Months Ended November 30, 2011 |
Sales |
$ |
850.3 |
|
|
$ |
1,345.8 |
|
|
$ |
528.0 |
|
|
$ |
(454.0 |
) |
|
$ |
2,270.1 |
|
Less – excise taxes |
(120.4 |
) |
|
(75.1 |
) |
|
(48.4 |
) |
|
— |
|
|
(243.9 |
) |
Net sales |
729.9 |
|
|
1,270.7 |
|
|
479.6 |
|
|
(454.0 |
) |
|
2,026.2 |
|
Cost of product sold |
(516.9 |
) |
|
(809.1 |
) |
|
(287.4 |
) |
|
404.1 |
|
|
(1,209.3 |
) |
Gross profit |
213.0 |
|
|
461.6 |
|
|
192.2 |
|
|
(49.9 |
) |
|
816.9 |
|
Selling, general and administrative expenses |
(209.2 |
) |
|
(153.2 |
) |
|
(86.3 |
) |
|
50.5 |
|
|
(398.2 |
) |
Restructuring charges |
(4.3 |
) |
|
(4.2 |
) |
|
(3.1 |
) |
|
— |
|
|
(11.6 |
) |
Operating (loss) income |
(0.5 |
) |
|
304.2 |
|
|
102.8 |
|
|
0.6 |
|
|
407.1 |
|
Equity in earnings of equity method investees and subsidiaries |
530.7 |
|
|
181.2 |
|
|
4.2 |
|
|
(536.6 |
) |
|
179.5 |
|
Interest (expense) income, net |
(187.9 |
) |
|
50.0 |
|
|
4.8 |
|
|
— |
|
|
(133.1 |
) |
Loss on write-off of financing costs |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Income before income taxes |
342.3 |
|
|
535.4 |
|
|
111.8 |
|
|
(536.0 |
) |
|
453.5 |
|
Provision for income taxes |
(0.3 |
) |
|
(98.3 |
) |
|
(13.0 |
) |
|
0.1 |
|
|
(111.5 |
) |
Net income |
$ |
342.0 |
|
|
$ |
437.1 |
|
|
$ |
98.8 |
|
|
$ |
(535.9 |
) |
|
$ |
342.0 |
|
Comprehensive income |
$ |
281.0 |
|
|
$ |
409.8 |
|
|
$ |
57.8 |
|
|
$ |
(467.6 |
) |
|
$ |
281.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Comprehensive Income for the Three Months Ended November 30, 2012 |
Sales |
$ |
570.1 |
|
|
$ |
483.1 |
|
|
$ |
223.5 |
|
|
$ |
(416.3 |
) |
|
$ |
860.4 |
|
Less – excise taxes |
(55.4 |
) |
|
(20.2 |
) |
|
(17.9 |
) |
|
— |
|
|
(93.5 |
) |
Net sales |
514.7 |
|
|
462.9 |
|
|
205.6 |
|
|
(416.3 |
) |
|
766.9 |
|
Cost of product sold |
(424.3 |
) |
|
(320.0 |
) |
|
(124.8 |
) |
|
413.0 |
|
|
(456.1 |
) |
Gross profit |
90.4 |
|
|
142.9 |
|
|
80.8 |
|
|
(3.3 |
) |
|
310.8 |
|
Selling, general and administrative expenses |
(82.8 |
) |
|
(28.6 |
) |
|
(44.3 |
) |
|
4.0 |
|
|
(151.7 |
) |
Restructuring charges |
0.2 |
|
|
(0.1 |
) |
|
(0.5 |
) |
|
0.1 |
|
|
(0.3 |
) |
Operating income |
7.8 |
|
|
114.2 |
|
|
36.0 |
|
|
0.8 |
|
|
158.8 |
|
Equity in earnings of equity method investees and subsidiaries |
141.4 |
|
|
53.9 |
|
|
0.2 |
|
|
(143.0 |
) |
|
52.5 |
|
Interest (expense) income, net |
(91.6 |
) |
|
28.6 |
|
|
1.6 |
|
|
— |
|
|
(61.4 |
) |
Loss on write-off of financing costs |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Income before income taxes |
57.6 |
|
|
196.7 |
|
|
37.8 |
|
|
(142.2 |
) |
|
149.9 |
|
Benefit from (provision for) income taxes |
51.9 |
|
|
(96.1 |
) |
|
4.0 |
|
|
(0.2 |
) |
|
(40.4 |
) |
Net income |
$ |
109.5 |
|
|
$ |
100.6 |
|
|
$ |
41.8 |
|
|
$ |
(142.4 |
) |
|
$ |
109.5 |
|
Comprehensive income |
$ |
117.1 |
|
|
$ |
101.0 |
|
|
$ |
47.3 |
|
|
$ |
(148.3 |
) |
|
$ |
117.1 |
|
|
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Comprehensive Income for the Three Months Ended November 30, 2011 |
Sales |
$ |
513.6 |
|
|
$ |
426.5 |
|
|
$ |
182.0 |
|
|
$ |
(333.1 |
) |
|
$ |
789.0 |
|
Less – excise taxes |
(59.0 |
) |
|
(12.5 |
) |
|
(16.8 |
) |
|
— |
|
|
(88.3 |
) |
Net sales |
454.6 |
|
|
414.0 |
|
|
165.2 |
|
|
(333.1 |
) |
|
700.7 |
|
Cost of product sold |
(374.7 |
) |
|
(279.2 |
) |
|
(96.3 |
) |
|
332.4 |
|
|
(417.8 |
) |
Gross profit |
79.9 |
|
|
134.8 |
|
|
68.9 |
|
|
(0.7 |
) |
|
282.9 |
|
Selling, general and administrative expenses |
(73.0 |
) |
|
(32.7 |
) |
|
(16.1 |
) |
|
— |
|
|
(121.8 |
) |
Restructuring charges |
1.2 |
|
|
(0.8 |
) |
|
(1.2 |
) |
|
— |
|
|
(0.8 |
) |
Operating income |
8.1 |
|
|
101.3 |
|
|
51.6 |
|
|
(0.7 |
) |
|
160.3 |
|
Equity in earnings of equity method investees and subsidiaries |
248.9 |
|
|
54.5 |
|
|
1.6 |
|
|
(251.7 |
) |
|
53.3 |
|
Interest (expense) income, net |
(69.7 |
) |
|
21.8 |
|
|
1.6 |
|
|
— |
|
|
(46.3 |
) |
Loss on write-off of financing costs |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Income before income taxes |
187.3 |
|
|
177.6 |
|
|
54.8 |
|
|
(252.4 |
) |
|
167.3 |
|
(Provision for) benefit from income taxes |
(82.5 |
) |
|
26.2 |
|
|
(6.3 |
) |
|
0.1 |
|
|
(62.5 |
) |
Net income |
$ |
104.8 |
|
|
$ |
203.8 |
|
|
$ |
48.5 |
|
|
$ |
(252.3 |
) |
|
$ |
104.8 |
|
Comprehensive income (loss) |
$ |
15.8 |
|
|
$ |
199.6 |
|
|
$ |
(42.2 |
) |
|
$ |
(157.4 |
) |
|
$ |
15.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Cash Flows for the Nine Months Ended November 30, 2012 |
Net cash provided by (used in) operating activities |
$ |
885.3 |
|
|
$ |
(546.2 |
) |
|
$ |
49.9 |
|
|
$ |
— |
|
|
$ |
389.0 |
|
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
|
Purchase of business, net of cash acquired |
— |
|
|
(159.3 |
) |
|
— |
|
|
— |
|
|
(159.3 |
) |
Purchases of property, plant and equipment |
4.4 |
|
|
(45.7 |
) |
|
(10.9 |
) |
|
— |
|
|
(52.2 |
) |
Payments related to sale of business |
(0.5 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(0.5 |
) |
Proceeds from sales of assets |
— |
|
|
4.9 |
|
|
3.1 |
|
|
— |
|
|
8.0 |
|
Proceeds from notes receivable |
1.2 |
|
|
3.4 |
|
|
— |
|
|
— |
|
|
4.6 |
|
Proceeds from redemption of available-for-sale debt securities |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Other investing activities |
— |
|
|
0.2 |
|
|
(1.0 |
) |
|
— |
|
|
(0.8 |
) |
Net cash provided by (used in) investing activities |
5.1 |
|
|
(196.5 |
) |
|
(8.8 |
) |
|
— |
|
|
(200.2 |
) |
|
|
|
|
|
|
|
|
|
|
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
|
Intercompany financings, net |
(793.3 |
) |
|
749.5 |
|
|
43.8 |
|
|
— |
|
|
— |
|
Principal payments of long-term debt |
(846.4 |
) |
|
(5.2 |
) |
|
— |
|
|
— |
|
|
(851.6 |
) |
Payment of restricted cash upon issuance of long-term debt |
(650.0 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(650.0 |
) |
Purchases of treasury stock |
(383.0 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(383.0 |
) |
Net repayment of notes payable |
(298.0 |
) |
|
— |
|
|
(58.0 |
) |
|
— |
|
|
(356.0 |
) |
Payment of financing costs of long-term debt |
(35.2 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(35.2 |
) |
Payment of minimum tax withholdings on stock-based payment awards |
— |
|
|
— |
|
|
(0.5 |
) |
|
— |
|
|
(0.5 |
) |
Proceeds from issuance of long-term debt |
2,050.0 |
|
|
— |
|
|
— |
|
|
— |
|
|
2,050.0 |
|
Proceeds from exercises of employee stock options |
135.0 |
|
|
— |
|
|
— |
|
|
— |
|
|
135.0 |
|
Excess tax benefits from stock-based payment awards |
17.2 |
|
|
— |
|
|
— |
|
|
— |
|
|
17.2 |
|
Proceeds from employee stock purchases |
2.1 |
|
|
— |
|
|
— |
|
|
— |
|
|
2.1 |
|
Net cash (used in) provided by financing activities |
(801.6 |
) |
|
744.3 |
|
|
(14.7 |
) |
|
— |
|
|
(72.0 |
) |
|
|
|
|
|
|
|
|
|
|
Effect of exchange rate changes on cash and cash investments |
— |
|
|
— |
|
|
(2.1 |
) |
|
— |
|
|
(2.1 |
) |
|
|
|
|
|
|
|
|
|
|
Net increase in cash and cash investments |
88.8 |
|
|
1.6 |
|
|
24.3 |
|
|
— |
|
|
114.7 |
|
Cash and cash investments, beginning of period |
0.5 |
|
|
0.6 |
|
|
84.7 |
|
|
— |
|
|
85.8 |
|
Cash and cash investments, end of period |
$ |
89.3 |
|
|
$ |
2.2 |
|
|
$ |
109.0 |
|
|
$ |
— |
|
|
$ |
200.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Cash Flows for the Nine Months Ended November 30, 2011 |
Net cash provided by operating activities |
$ |
10.6 |
|
|
$ |
473.6 |
|
|
$ |
156.6 |
|
|
$ |
— |
|
|
$ |
640.8 |
|
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
|
Purchase of business, net of cash acquired |
— |
|
|
— |
|
|
(51.5 |
) |
|
— |
|
|
(51.5 |
) |
Purchases of property, plant and equipment |
(18.7 |
) |
|
(26.0 |
) |
|
(9.4 |
) |
|
— |
|
|
(54.1 |
) |
Payments related to sale of business |
(9.1 |
) |
|
— |
|
|
(17.8 |
) |
|
— |
|
|
(26.9 |
) |
Proceeds from sales of assets |
— |
|
|
0.3 |
|
|
0.3 |
|
|
— |
|
|
0.6 |
|
Proceeds from notes receivable |
1.0 |
|
|
— |
|
|
— |
|
|
— |
|
|
1.0 |
|
Proceeds from redemption of available-for-sale debt securities |
— |
|
|
— |
|
|
20.2 |
|
|
— |
|
|
20.2 |
|
Other investing activities |
— |
|
|
(6.1 |
) |
|
(1.9 |
) |
|
— |
|
|
(8.0 |
) |
Net cash used in investing activities |
(26.8 |
) |
|
(31.8 |
) |
|
(60.1 |
) |
|
— |
|
|
(118.7 |
) |
|
|
|
|
|
|
|
|
|
|
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
|
Intercompany financings, net |
479.8 |
|
|
(423.7 |
) |
|
(56.1 |
) |
|
— |
|
|
— |
|
Principal payments of long-term debt |
(410.2 |
) |
|
(15.6 |
) |
|
(44.7 |
) |
|
— |
|
|
(470.5 |
) |
Payment of restricted cash upon issuance of long-term debt |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Purchases of treasury stock |
(281.3 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(281.3 |
) |
Net proceeds from notes payable |
172.1 |
|
|
— |
|
|
51.1 |
|
|
— |
|
|
223.2 |
|
Payment of financing costs of long-term debt |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Payment of minimum tax withholdings on stock-based payment awards |
— |
|
|
(1.7 |
) |
|
(0.5 |
) |
|
— |
|
|
(2.2 |
) |
Proceeds from issuance of long-term debt |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Proceeds from exercises of employee stock options |
42.3 |
|
|
— |
|
|
— |
|
|
— |
|
|
42.3 |
|
Excess tax benefits from stock-based payment awards |
11.1 |
|
|
— |
|
|
— |
|
|
— |
|
|
11.1 |
|
Proceeds from employee stock purchases |
2.4 |
|
|
— |
|
|
— |
|
|
— |
|
|
2.4 |
|
Net cash provided by (used in) financing activities |
16.2 |
|
|
(441.0 |
) |
|
(50.2 |
) |
|
— |
|
|
(475.0 |
) |
|
|
|
|
|
|
|
|
|
|
|
Effect of exchange rate changes on cash
and cash investments
|
— |
|
|
— |
|
|
(0.5 |
) |
|
— |
|
|
(0.5 |
) |
|
|
|
|
|
|
|
|
|
|
Net increase in cash and cash investments |
— |
|
|
0.8 |
|
|
45.8 |
|
|
— |
|
|
46.6 |
|
|
Cash and cash investments, beginning
of period
|
0.7 |
|
|
0.9 |
|
|
7.6 |
|
|
— |
|
|
9.2 |
|
|
Cash and cash investments, end of
period
|
$ |
0.7 |
|
|
$ |
1.7 |
|
|
$ |
53.4 |
|
|
$ |
— |
|
|
$ |
55.8 |
|
|