Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidating Financial Information (Details 1)

v3.8.0.1
Condensed Consolidating Financial Information (Details 1) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Aug. 31, 2017
Aug. 31, 2016
Aug. 31, 2017
Aug. 31, 2016
Condensed Consolidating Statement of Comprehensive Income        
Sales $ 2,297.2 $ 2,222.8 $ 4,412.5 $ 4,275.8
Less – excise taxes (212.7) (201.6) (392.5) (382.8)
Net sales 2,084.5 2,021.2 4,020.0 3,893.0
Cost of product sold (1,019.2) (1,052.2) (1,959.4) (2,042.7)
Gross profit 1,065.3 969.0 2,060.6 1,850.3
Selling, general and administrative expenses (351.4) (358.1) (778.6) (686.7)
Operating income 713.9 610.9 1,282.0 1,163.6
Equity in earnings (losses) of equity method investees and subsidiaries 0.2 0.0 0.6 0.7
Interest income 0.1 0.6 0.2 1.0
Intercompany interest income 0.0 0.0 0.0 0.0
Interest expense (81.4) (94.7) (163.9) (179.7)
Intercompany interest expense 0.0 0.0 0.0 0.0
Loss on write-off of debt issuance costs (2.1) 0.0 (8.8) 0.0
Income before income taxes 630.7 516.8 1,110.1 985.6
(Provision for) benefit from income taxes (128.7) (163.6) (202.8) (313.3)
Net income 502.0 353.2 907.3 672.3
Net (income) loss attributable to noncontrolling interests (2.5) 5.7 (5.0) 4.9
Net income attributable to CBI 499.5 358.9 902.3 677.2
Comprehensive income attributable to CBI 624.4 372.3 1,214.7 686.6
Eliminations [Member]        
Condensed Consolidating Statement of Comprehensive Income        
Sales (1,302.5) (1,117.2) (2,542.5) (2,335.4)
Less – excise taxes 0.0 0.0 0.0 0.0
Net sales (1,302.5) (1,117.2) (2,542.5) (2,335.4)
Cost of product sold 1,333.1 1,155.2 2,555.0 2,332.4
Gross profit 30.6 38.0 12.5 (3.0)
Selling, general and administrative expenses 3.0 5.2 5.8 10.7
Operating income 33.6 43.2 18.3 7.7
Equity in earnings (losses) of equity method investees and subsidiaries (656.2) (503.9) (1,194.0) (961.4)
Interest income 0.0 0.0 0.0 0.0
Intercompany interest income (182.7) (156.8) (359.2) (311.1)
Interest expense 0.0 0.0 0.0 0.0
Intercompany interest expense 182.7 156.8 359.2 311.1
Loss on write-off of debt issuance costs 0.0   0.0  
Income before income taxes (622.6) (460.7) (1,175.7) (953.7)
(Provision for) benefit from income taxes (6.6) (15.6) (22.8) (4.2)
Net income (629.2) (476.3) (1,198.5) (957.9)
Net (income) loss attributable to noncontrolling interests 0.0 0.0 0.0 0.0
Net income attributable to CBI (629.2) (476.3) (1,198.5) (957.9)
Comprehensive income attributable to CBI (755.9) (488.5) (1,514.8) (965.7)
Parent Company [Member]        
Condensed Consolidating Statement of Comprehensive Income        
Sales 719.6 711.8 1,418.4 1,335.5
Less – excise taxes (90.4) (92.1) (174.0) (170.1)
Net sales 629.2 619.7 1,244.4 1,165.4
Cost of product sold (509.3) (499.1) (986.5) (950.5)
Gross profit 119.9 120.6 257.9 214.9
Selling, general and administrative expenses (111.3) (109.2) (216.3) (200.6)
Operating income 8.6 11.4 41.6 14.3
Equity in earnings (losses) of equity method investees and subsidiaries 539.8 407.4 973.3 776.4
Interest income 0.0 0.3 0.0 0.4
Intercompany interest income 58.9 57.3 116.8 114.7
Interest expense (63.9) (76.8) (129.1) (151.1)
Intercompany interest expense (98.4) (75.8) (191.7) (149.0)
Loss on write-off of debt issuance costs (0.3)   (7.0)  
Income before income taxes 444.7 323.8 803.9 605.7
(Provision for) benefit from income taxes 54.8 35.1 98.4 71.5
Net income 499.5 358.9 902.3 677.2
Net (income) loss attributable to noncontrolling interests 0.0 0.0 0.0 0.0
Net income attributable to CBI 499.5 358.9 902.3 677.2
Comprehensive income attributable to CBI 624.4 372.3 1,214.7 686.6
Subsidiary Guarantors [Member]        
Condensed Consolidating Statement of Comprehensive Income        
Sales 1,940.9 1,757.5 3,694.1 3,401.4
Less – excise taxes (119.2) (93.5) (212.6) (180.3)
Net sales 1,821.7 1,664.0 3,481.5 3,221.1
Cost of product sold (1,360.1) (1,219.5) (2,574.7) (2,366.3)
Gross profit 461.6 444.5 906.8 854.8
Selling, general and administrative expenses (192.6) (182.7) (474.1) (356.3)
Operating income 269.0 261.8 432.7 498.5
Equity in earnings (losses) of equity method investees and subsidiaries (11.9) (11.9) (23.4) (23.2)
Interest income 0.0 0.0 0.0 0.0
Intercompany interest income 122.6 98.6 240.0 194.6
Interest expense (0.2) (0.4) (0.5) (0.8)
Intercompany interest expense (49.2) (49.3) (98.5) (101.0)
Loss on write-off of debt issuance costs 0.0   0.0  
Income before income taxes 330.3 298.8 550.3 568.1
(Provision for) benefit from income taxes (123.5) (114.2) (193.1) (217.2)
Net income 206.8 184.6 357.2 350.9
Net (income) loss attributable to noncontrolling interests 0.0 0.0 0.0 0.0
Net income attributable to CBI 206.8 184.6 357.2 350.9
Comprehensive income attributable to CBI 203.9 185.0 355.2 350.2
Subsidiary Nonguarantors [Member]        
Condensed Consolidating Statement of Comprehensive Income        
Sales 939.2 870.7 1,842.5 1,874.3
Less – excise taxes (3.1) (16.0) (5.9) (32.4)
Net sales 936.1 854.7 1,836.6 1,841.9
Cost of product sold (482.9) (488.8) (953.2) (1,058.3)
Gross profit 453.2 365.9 883.4 783.6
Selling, general and administrative expenses (50.5) (71.4) (94.0) (140.5)
Operating income 402.7 294.5 789.4 643.1
Equity in earnings (losses) of equity method investees and subsidiaries 128.5 108.4 244.7 208.9
Interest income 0.1 0.3 0.2 0.6
Intercompany interest income 1.2 0.9 2.4 1.8
Interest expense (17.3) (17.5) (34.3) (27.8)
Intercompany interest expense (35.1) (31.7) (69.0) (61.1)
Loss on write-off of debt issuance costs (1.8)   (1.8)  
Income before income taxes 478.3 354.9 931.6 765.5
(Provision for) benefit from income taxes (53.4) (68.9) (85.3) (163.4)
Net income 424.9 286.0 846.3 602.1
Net (income) loss attributable to noncontrolling interests (2.5) 5.7 (5.0) 4.9
Net income attributable to CBI 422.4 291.7 841.3 607.0
Comprehensive income attributable to CBI $ 552.0 $ 303.5 $ 1,159.6 $ 615.5