Current report filing

Consolidated Statements of Cash Flows

v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Feb. 28, 2017
Feb. 29, 2016
Feb. 28, 2015
Cash flows from operating activities:      
Net income $ 1,539.2 $ 1,060.6 $ 836.2
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 237.5 180.3 162.0
Deferred tax provision 128.7 251.0 79.3
Amortization and impairment of intangible assets 56.4 40.7 40.0
Stock-based compensation 56.1 54.0 55.0
Amortization of debt issuance costs 12.7 12.0 12.2
Gain on sale of business (262.4) 0.0 0.0
Change in operating assets and liabilities, net of effects from purchases of businesses:      
Accounts receivable (49.4) (129.8) 16.1
Inventories (151.0) 10.1 (132.5)
Prepaid expenses and other current assets (71.6) 45.9 (71.2)
Accounts payable 115.9 24.7 (0.8)
Accrued excise taxes 16.2 5.1 1.6
Other accrued expenses and liabilities 106.0 (116.8) 44.7
Other (38.3) (24.1) 38.4
Total adjustments 156.8 353.1 244.8
Net cash provided by operating activities 1,696.0 1,413.7 1,081.0
Cash flows from investing activities:      
Purchases of businesses, net of cash acquired (1,111.0) (1,316.4) (310.3)
Purchases of property, plant and equipment (907.4) (891.3) (719.4)
Proceeds from sale of business 575.3 0.0 0.0
Other investing activities (18.7) 0.3 13.8
Net cash used in investing activities (1,461.8) (2,207.4) (1,015.9)
Cash flows from financing activities:      
Purchases of treasury stock (1,122.7) (33.8) 0.0
Principal payments of long-term debt (971.8) (208.7) (605.7)
Dividends paid (315.1) (241.6) 0.0
Payments of minimum tax withholdings on stock-based payment awards (64.9) (38.6) (28.4)
Payments of debt issuance and other financing costs (14.1) (13.3) (13.8)
Proceeds from issuance of long-term debt 1,965.6 610.0 905.0
Net proceeds from notes payable 197.1 360.6 13.1
Excess tax benefits from stock-based payment awards 131.4 203.4 78.0
Proceeds from shares issued under equity compensation plans 59.7 113.0 63.7
Proceeds from noncontrolling interests 0.0 25.0 115.0
Payment of delayed purchase price arrangement 0.0 0.0 (543.3)
Net cash provided by (used in) financing activities (134.8) 776.0 (16.4)
Effect of exchange rate changes on cash and cash equivalents (5.1) (9.3) (2.5)
Net increase (decrease) in cash and cash equivalents 94.3 (27.0) 46.2
Cash and cash equivalents, beginning of period 83.1 110.1 63.9
Cash and cash equivalents, end of period 177.4 83.1 110.1
Supplemental disclosures of cash flow information:      
Interest 300.4 310.4 325.4
Income taxes, net of refunds received $ 219.6 $ 80.2 $ 169.5