Current report filing

Condensed Consolidating Financial Information (Tables)

v3.8.0.1
Condensed Consolidating Financial Information (Tables)
3 Months Ended 12 Months Ended
May 31, 2017
Feb. 28, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract]    
Condensed Consolidating Balance Sheet
 
Parent
Company
 
Subsidiary
Guarantors
 
Subsidiary
Nonguarantors
 
Eliminations
 
Consolidated
(in millions)
 
 
 
 
 
 
 
 
 
Condensed Consolidating Balance Sheet at May 31, 2017
Current assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
32.6

 
$
6.4

 
$
160.1

 
$

 
$
199.1

Accounts receivable
1.7

 
9.8

 
820.5

 

 
832.0

Inventories
170.8

 
1,425.9

 
523.7

 
(183.5
)
 
1,936.9

Intercompany receivable
22,784.6

 
31,848.6

 
15,813.9

 
(70,447.1
)
 

Prepaid expenses and other
90.6

 
62.7

 
319.2

 
(80.0
)
 
392.5

Total current assets
23,080.3

 
33,353.4

 
17,637.4

 
(70,710.6
)
 
3,360.5

Property, plant and equipment
70.1

 
680.0

 
3,436.8

 

 
4,186.9

Investments in subsidiaries
17,551.5

 
268.6

 
5,486.3

 
(23,306.4
)
 

Goodwill

 
6,185.6

 
1,786.7

 

 
7,972.3

Intangible assets

 
722.1

 
2,567.6

 

 
3,289.7

Intercompany notes receivable
5,129.9

 
2,178.4

 

 
(7,308.3
)
 

Other assets
17.8

 
4.9

 
127.3

 

 
150.0

Total assets
$
45,849.6

 
$
43,393.0

 
$
31,042.1

 
$
(101,325.3
)
 
$
18,959.4

 
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
Notes payable to banks
$
485.0

 
$

 
$
503.1

 
$

 
$
988.1

Current maturities of long-term debt
4.5

 
15.0

 
126.7

 

 
146.2

Accounts payable
35.7

 
147.5

 
375.6

 

 
558.8

Intercompany payable
32,047.5

 
24,308.6

 
14,091.0

 
(70,447.1
)
 

Other accrued expenses and liabilities
201.8

 
274.3

 
121.5

 
(108.3
)
 
489.3

Total current liabilities
32,774.5

 
24,745.4

 
15,217.9

 
(70,555.4
)
 
2,182.4

Long-term debt, less current maturities
5,638.1

 
8.1

 
2,431.0

 

 
8,077.2

Deferred income taxes
13.6

 
687.4

 
434.5

 

 
1,135.5

Intercompany notes payable

 
4,690.1

 
2,618.2

 
(7,308.3
)
 

Other liabilities
33.7

 
10.6

 
122.2

 

 
166.5

Total liabilities
38,459.9

 
30,141.6

 
20,823.8

 
(77,863.7
)
 
11,561.6

Total CBI stockholders’ equity
7,389.7

 
13,251.4

 
10,210.2

 
(23,461.6
)
 
7,389.7

Noncontrolling interests

 

 
8.1

 

 
8.1

Total stockholders’ equity
7,389.7

 
13,251.4

 
10,218.3

 
(23,461.6
)
 
7,397.8

Total liabilities and stockholders’ equity
$
45,849.6

 
$
43,393.0

 
$
31,042.1

 
$
(101,325.3
)
 
$
18,959.4

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Parent
Company
 
Subsidiary
Guarantors
 
Subsidiary
Nonguarantors
 
Eliminations
 
Consolidated
(in millions)
 
 
 
 
 
 
 
 
 
Condensed Consolidating Balance Sheet at February 28, 2017
Current assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
9.6

 
$
5.3

 
$
162.5

 
$

 
$
177.4

Accounts receivable
2.4

 
18.1

 
716.5

 

 
737.0

Inventories
162.3

 
1,456.6

 
502.8

 
(166.6
)
 
1,955.1

Intercompany receivable
21,894.2

 
30,298.2

 
14,985.4

 
(67,177.8
)
 

Prepaid expenses and other
40.4

 
69.1

 
235.2

 
15.8

 
360.5

Total current assets
22,108.9

 
31,847.3

 
16,602.4

 
(67,328.6
)
 
3,230.0

Property, plant and equipment
69.5

 
680.1

 
3,183.2

 

 
3,932.8

Investments in subsidiaries
16,965.2

 
267.2

 
5,370.3

 
(22,602.7
)
 

Goodwill

 
6,185.5

 
1,735.0

 

 
7,920.5

Intangible assets

 
810.2

 
2,567.5

 

 
3,377.7

Intercompany notes receivable
5,074.5

 
2,155.5

 

 
(7,230.0
)
 

Other assets
17.9

 
4.5

 
119.0

 

 
141.4

Total assets
$
44,236.0

 
$
41,950.3

 
$
29,577.4

 
$
(97,161.3
)
 
$
18,602.4

 
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
Notes payable to banks
$
231.0

 
$

 
$
375.5

 
$

 
$
606.5

Current maturities of long-term debt
767.9

 
16.2

 
126.8

 

 
910.9

Accounts payable
47.6

 
57.5

 
454.7

 

 
559.8

Intercompany payable
30,722.8

 
23,203.3

 
13,251.7

 
(67,177.8
)
 

Other accrued expenses and liabilities
270.2

 
203.5

 
175.6

 
(28.9
)
 
620.4

Total current liabilities
32,039.5

 
23,480.5

 
14,384.3

 
(67,206.7
)
 
2,697.6

Long-term debt, less current maturities
5,260.2

 
11.8

 
2,448.7

 

 
7,720.7

Deferred income taxes
13.3

 
698.0

 
422.3

 

 
1,133.6

Intercompany notes payable

 
4,639.4

 
2,590.6

 
(7,230.0
)
 

Other liabilities
31.8

 
8.9

 
125.0

 

 
165.7

Total liabilities
37,344.8

 
28,838.6

 
19,970.9

 
(74,436.7
)
 
11,717.6

 
 
 
 
 
 
 
 
 
 
Total CBI stockholders’ equity
6,891.2

 
13,111.7

 
9,612.9

 
(22,724.6
)
 
6,891.2

Noncontrolling interests

 

 
(6.4
)
 

 
(6.4
)
Total stockholders’ equity
6,891.2

 
13,111.7

 
9,606.5

 
(22,724.6
)
 
6,884.8

Total liabilities and stockholders’ equity
$
44,236.0

 
$
41,950.3

 
$
29,577.4

 
$
(97,161.3
)
 
$
18,602.4

 
Parent
Company
 
Subsidiary
Guarantors
 
Subsidiary
Nonguarantors
 
Eliminations
 
Consolidated
(in millions)
 
 
 
 
 
 
 
 
 
Condensed Consolidating Balance Sheet at February 28, 2017
Current assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
9.6

 
$
5.3

 
$
162.5

 
$

 
$
177.4

Accounts receivable
2.4

 
18.1

 
716.5

 

 
737.0

Inventories
162.3

 
1,456.6

 
502.8

 
(166.6
)
 
1,955.1

Intercompany receivable
21,894.2

 
30,298.2

 
14,985.4

 
(67,177.8
)
 

Prepaid expenses and other
40.4

 
69.1

 
235.2

 
15.8

 
360.5

Total current assets
22,108.9

 
31,847.3

 
16,602.4

 
(67,328.6
)
 
3,230.0

Property, plant and equipment
69.5

 
680.1

 
3,183.2

 

 
3,932.8

Investments in subsidiaries
16,965.2

 
267.2

 
5,370.3

 
(22,602.7
)
 

Goodwill

 
6,185.5

 
1,735.0

 

 
7,920.5

Intangible assets

 
810.2

 
2,567.5

 

 
3,377.7

Intercompany notes receivable
5,074.5

 
2,155.5

 

 
(7,230.0
)
 

Other assets
17.9

 
4.5

 
119.0

 

 
141.4

Total assets
$
44,236.0

 
$
41,950.3

 
$
29,577.4

 
$
(97,161.3
)
 
$
18,602.4

 
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
Notes payable to banks
$
231.0

 
$

 
$
375.5

 
$

 
$
606.5

Current maturities of long-term debt
767.9

 
16.2

 
126.8

 

 
910.9

Accounts payable
47.6

 
57.5

 
454.7

 

 
559.8

Accrued excise taxes
17.8

 
26.0

 
0.8

 

 
44.6

Intercompany payable
30,722.8

 
23,203.3

 
13,251.7

 
(67,177.8
)
 

Other accrued expenses and liabilities
252.4

 
177.5

 
174.8

 
(28.9
)
 
575.8

Total current liabilities
32,039.5

 
23,480.5

 
14,384.3

 
(67,206.7
)
 
2,697.6

Long-term debt, less current maturities
5,260.2

 
11.8

 
2,448.7

 

 
7,720.7

Deferred income taxes
13.3

 
698.0

 
422.3

 

 
1,133.6

Intercompany notes payable

 
4,639.4

 
2,590.6

 
(7,230.0
)
 

Other liabilities
31.8

 
8.9

 
125.0

 

 
165.7

Total liabilities
37,344.8

 
28,838.6

 
19,970.9

 
(74,436.7
)
 
11,717.6

Total CBI stockholders’ equity
6,891.2

 
13,111.7

 
9,612.9

 
(22,724.6
)
 
6,891.2

Noncontrolling interests

 

 
(6.4
)
 

 
(6.4
)
Total stockholders’ equity
6,891.2

 
13,111.7

 
9,606.5

 
(22,724.6
)
 
6,884.8

Total liabilities and stockholders’ equity
$
44,236.0

 
$
41,950.3

 
$
29,577.4

 
$
(97,161.3
)
 
$
18,602.4

 
 
 
 
 
 
 
 
 
 
 
Parent
Company
 
Subsidiary
Guarantors
 
Subsidiary
Nonguarantors
 
Eliminations
 
Consolidated
(in millions)
 
 
 
 
 
 
 
 
 
Condensed Consolidating Balance Sheet at February 29, 2016
Current assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
6.0

 
$
3.6

 
$
73.5

 
$

 
$
83.1

Accounts receivable
0.4

 
21.8

 
710.3

 

 
732.5

Inventories
151.6

 
1,345.8

 
481.5

 
(127.3
)
 
1,851.6

Intercompany receivable
16,759.0

 
24,420.0

 
11,756.2

 
(52,935.2
)
 

Prepaid expenses and other
29.6

 
57.1

 
347.0

 
(123.3
)
 
310.4

Total current assets
16,946.6

 
25,848.3

 
13,368.5

 
(53,185.8
)
 
2,977.6

Property, plant and equipment
63.2

 
636.0

 
2,634.2

 

 
3,333.4

Investments in subsidiaries
16,384.0

 
202.3

 
4,986.1

 
(21,572.4
)
 

Goodwill

 
6,184.2

 
954.4

 

 
7,138.6

Intangible assets

 
863.3

 
2,538.4

 
2.1

 
3,403.8

Intercompany notes receivable
4,705.9

 
2,067.7

 

 
(6,773.6
)
 

Other assets
20.0

 
3.6

 
88.0

 

 
111.6

Total assets
$
38,119.7

 
$
35,805.4

 
$
24,569.6

 
$
(81,529.7
)
 
$
16,965.0

 
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
Notes payable to banks
$

 
$

 
$
408.3

 
$

 
$
408.3

Current maturities of long-term debt
765.6

 
18.0

 
73.1

 

 
856.7

Accounts payable
37.7

 
45.6

 
346.0

 

 
429.3

Accrued excise taxes
14.7

 
14.7

 
4.2

 

 
33.6

Intercompany payable
24,929.8

 
17,889.6

 
10,115.8

 
(52,935.2
)
 

Other accrued expenses and liabilities
349.1

 
186.3

 
173.5

 
(164.5
)
 
544.4

Total current liabilities
26,096.9

 
18,154.2

 
11,120.9

 
(53,099.7
)
 
2,272.3

Long-term debt, less current maturities
5,421.4

 
15.6

 
1,379.2

 

 
6,816.2

Deferred income taxes
11.9

 
615.7

 
394.6

 

 
1,022.2

Intercompany notes payable

 
4,619.8

 
2,153.8

 
(6,773.6
)
 

Other liabilities
29.9

 
16.8

 
115.8

 

 
162.5

Total liabilities
31,560.1

 
23,422.1

 
15,164.3

 
(59,873.3
)
 
10,273.2

Total CBI stockholders’ equity
6,559.6

 
12,383.3

 
9,273.1

 
(21,656.4
)
 
6,559.6

Noncontrolling interests

 

 
132.2

 

 
132.2

Total stockholders’ equity
6,559.6

 
12,383.3

 
9,405.3

 
(21,656.4
)
 
6,691.8

Total liabilities and stockholders’ equity
$
38,119.7

 
$
35,805.4

 
$
24,569.6

 
$
(81,529.7
)
 
$
16,965.0


Condensed Consolidating Statement of Comprehensive Income
 
Parent
Company
 
Subsidiary
Guarantors
 
Subsidiary
Nonguarantors
 
Eliminations
 
Consolidated
(in millions)
 
 
 
 
 
 
 
 
 
Condensed Consolidating Statement of Comprehensive Income for the Three Months Ended May 31, 2017
Sales
$
698.8

 
$
1,753.2

 
$
903.3

 
$
(1,240.0
)
 
$
2,115.3

Less – excise taxes
(83.6
)
 
(93.4
)
 
(2.8
)
 

 
(179.8
)
Net sales
615.2

 
1,659.8

 
900.5

 
(1,240.0
)
 
1,935.5

Cost of product sold
(477.2
)
 
(1,214.6
)
 
(470.3
)
 
1,221.9

 
(940.2
)
Gross profit
138.0

 
445.2

 
430.2

 
(18.1
)
 
995.3

Selling, general and administrative expenses
(105.0
)
 
(281.5
)
 
(43.5
)
 
2.8

 
(427.2
)
Operating income
33.0

 
163.7

 
386.7

 
(15.3
)
 
568.1

Equity in earnings (losses) of equity method investees and subsidiaries
433.5

 
(11.5
)
 
116.2

 
(537.8
)
 
0.4

Interest income

 

 
0.1

 

 
0.1

Intercompany interest income
57.9

 
117.4

 
1.2

 
(176.5
)
 

Interest expense
(65.2
)
 
(0.3
)
 
(17.0
)
 

 
(82.5
)
Intercompany interest expense
(93.3
)
 
(49.3
)
 
(33.9
)
 
176.5

 

Loss on write-off of debt issuance costs
(6.7
)
 

 

 

 
(6.7
)
Income before income taxes
359.2

 
220.0

 
453.3

 
(553.1
)
 
479.4

(Provision for) benefit from income taxes
43.6

 
(69.6
)
 
(31.9
)
 
(16.2
)
 
(74.1
)
Net income
402.8

 
150.4

 
421.4

 
(569.3
)
 
405.3

Net income attributable to noncontrolling interests

 

 
(2.5
)
 

 
(2.5
)
Net income attributable to CBI
$
402.8

 
$
150.4

 
$
418.9

 
$
(569.3
)
 
$
402.8

 
 
 
 
 
 
 
 
 
 
Comprehensive income attributable to CBI
$
590.3

 
$
151.3

 
$
607.6

 
$
(758.9
)
 
$
590.3

 
 
 
 
 
 
 
 
 
 
Condensed Consolidating Statement of Comprehensive Income for the Three Months Ended May 31, 2016
Sales
$
623.7

 
$
1,643.9

 
$
1,003.6

 
$
(1,218.2
)
 
$
2,053.0

Less – excise taxes
(78.0
)
 
(86.8
)
 
(16.4
)
 

 
(181.2
)
Net sales
545.7

 
1,557.1

 
987.2

 
(1,218.2
)
 
1,871.8

Cost of product sold
(451.4
)
 
(1,146.8
)
 
(569.5
)
 
1,177.2

 
(990.5
)
Gross profit
94.3

 
410.3

 
417.7

 
(41.0
)
 
881.3

Selling, general and administrative expenses
(91.4
)
 
(173.6
)
 
(69.1
)
 
5.5

 
(328.6
)
Operating income
2.9

 
236.7

 
348.6

 
(35.5
)
 
552.7

Equity in earnings (losses) of equity method investees and subsidiaries
369.0

 
(11.3
)
 
100.5

 
(457.5
)
 
0.7

Interest income
0.1

 

 
0.3

 

 
0.4

Intercompany interest income
57.4

 
96.0

 
0.9

 
(154.3
)
 

Interest expense
(74.3
)
 
(0.4
)
 
(10.3
)
 

 
(85.0
)
Intercompany interest expense
(73.2
)
 
(51.7
)
 
(29.4
)
 
154.3

 

Income before income taxes
281.9

 
269.3

 
410.6

 
(493.0
)
 
468.8

(Provision for) benefit from income taxes
36.4

 
(103.0
)
 
(94.5
)
 
11.4

 
(149.7
)
Net income
318.3

 
166.3

 
316.1

 
(481.6
)
 
319.1

Net income attributable to noncontrolling interests

 

 
(0.8
)
 

 
(0.8
)
Net income attributable to CBI
$
318.3

 
$
166.3

 
$
315.3

 
$
(481.6
)
 
$
318.3

 
 
 
 
 
 
 
 
 
 
Comprehensive income attributable to CBI
$
314.3

 
$
165.2

 
$
312.0

 
$
(477.2
)
 
$
314.3

 
Parent
Company
 
Subsidiary
Guarantors
 
Subsidiary
Nonguarantors
 
Eliminations
 
Consolidated
(in millions)
 
 
 
 
 
 
 
 
 
Condensed Consolidating Statement of Comprehensive Income for the Year Ended February 28, 2017
Sales
$
2,832.6

 
$
6,254.4

 
$
3,535.1

 
$
(4,560.5
)
 
$
8,061.6

Less – excise taxes
(351.9
)
 
(320.8
)
 
(57.4
)
 

 
(730.1
)
Net sales
2,480.7

 
5,933.6

 
3,477.7

 
(4,560.5
)
 
7,331.5

Cost of product sold
(1,974.5
)
 
(4,373.8
)
 
(1,949.9
)
 
4,496.1

 
(3,802.1
)
Gross profit
506.2

 
1,559.8

 
1,527.8

 
(64.4
)
 
3,529.4

Selling, general and administrative expenses
(417.2
)
 
(707.5
)
 
(290.5
)
 
22.8

 
(1,392.4
)
Gain on sale of business
(23.4
)
 
(4.3
)
 
290.1

 

 
262.4

Operating income
65.6

 
848.0

 
1,527.4

 
(41.6
)
 
2,399.4

Equity in earnings (losses) of equity method investees and subsidiaries
1,657.4

 
(31.1
)
 
411.7

 
(2,010.7
)
 
27.3

Interest income
0.4

 

 
1.4

 

 
1.8

Intercompany interest income
227.1

 
402.7

 
3.6

 
(633.4
)
 

Interest expense
(280.0
)
 
(1.5
)
 
(53.6
)
 

 
(335.1
)
Intercompany interest expense
(311.1
)
 
(197.4
)
 
(124.9
)
 
633.4

 

Income before income taxes
1,359.4

 
1,020.7

 
1,765.6

 
(2,052.3
)
 
2,093.4

(Provision for) benefit from income taxes
175.7

 
(385.8
)
 
(347.6
)
 
3.5

 
(554.2
)
Net income
1,535.1

 
634.9

 
1,418.0

 
(2,048.8
)
 
1,539.2

Net income attributable to noncontrolling interests

 

 
(4.1
)
 

 
(4.1
)
Net income attributable to CBI
$
1,535.1

 
$
634.9

 
$
1,413.9

 
$
(2,048.8
)
 
$
1,535.1

 
 
 
 
 
 
 
 
 
 
Comprehensive income attributable to CBI
$
1,587.8

 
$
634.8

 
$
1,436.3

 
$
(2,071.1
)
 
$
1,587.8

 
 
 
 
 
 
 
 
 
 
 
Parent
Company
 
Subsidiary
Guarantors
 
Subsidiary
Nonguarantors
 
Eliminations
 
Consolidated
(in millions)
 
 
 
 
 
 
 
 
 
Condensed Consolidating Statement of Comprehensive Income for the Year Ended February 29, 2016
Sales
$
2,522.8

 
$
5,491.3

 
$
3,138.7

 
$
(3,929.0
)
 
$
7,223.8

Less – excise taxes
(332.6
)
 
(280.9
)
 
(61.9
)
 

 
(675.4
)
Net sales
2,190.2

 
5,210.4

 
3,076.8

 
(3,929.0
)
 
6,548.4

Cost of product sold
(1,759.6
)
 
(3,835.4
)
 
(1,894.6
)
 
3,883.5

 
(3,606.1
)
Gross profit
430.6

 
1,375.0

 
1,182.2

 
(45.5
)
 
2,942.3

Selling, general and administrative expenses
(378.4
)
 
(595.1
)
 
(224.5
)
 
20.8

 
(1,177.2
)
Operating income
52.2

 
779.9

 
957.7

 
(24.7
)
 
1,765.1

Equity in earnings (losses) of equity method investees and subsidiaries
1,224.2

 
(30.5
)
 
373.0

 
(1,540.1
)
 
26.6

Dividend income

 

 
24.5

 

 
24.5

Interest income
0.2

 

 
0.6

 

 
0.8

Intercompany interest income
191.4

 
354.3

 
3.4

 
(549.1
)
 

Interest expense
(290.1
)
 
(1.2
)
 
(23.4
)
 

 
(314.7
)
Intercompany interest expense
(267.4
)
 
(173.7
)
 
(108.0
)
 
549.1

 

Loss on write-off of debt issuance costs
(0.4
)
 

 
(0.7
)
 

 
(1.1
)
Income before income taxes
910.1

 
928.8

 
1,227.1

 
(1,564.8
)
 
1,501.2

(Provision for) benefit from income taxes
144.8

 
(351.4
)
 
(242.3
)
 
8.3

 
(440.6
)
Net income
1,054.9

 
577.4

 
984.8

 
(1,556.5
)
 
1,060.6

Net income attributable to noncontrolling interests

 

 
(5.7
)
 

 
(5.7
)
Net income attributable to CBI
$
1,054.9

 
$
577.4

 
$
979.1

 
$
(1,556.5
)
 
$
1,054.9

 
 
 
 
 
 
 
 
 
 
Comprehensive income attributable to CBI
$
733.3

 
$
575.7

 
$
651.8

 
$
(1,227.5
)
 
$
733.3

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Parent
Company
 
Subsidiary
Guarantors
 
Subsidiary
Nonguarantors
 
Eliminations
 
Consolidated
(in millions)
 
 
 
 
 
 
 
 
 
Condensed Consolidating Statement of Comprehensive Income for the Year Ended February 28, 2015
Sales
$
2,406.4

 
$
4,936.9

 
$
3,107.3

 
$
(3,778.5
)
 
$
6,672.1

Less – excise taxes
(324.8
)
 
(251.4
)
 
(67.9
)
 

 
(644.1
)
Net sales
2,081.6

 
4,685.5

 
3,039.4

 
(3,778.5
)
 
6,028.0

Cost of product sold
(1,678.4
)
 
(3,574.7
)
 
(1,924.6
)
 
3,728.3

 
(3,449.4
)
Gross profit
403.2

 
1,110.8

 
1,114.8

 
(50.2
)
 
2,578.6

Selling, general and administrative expenses
(388.2
)
 
(454.0
)
 
(251.4
)
 
15.2

 
(1,078.4
)
Operating income
15.0

 
656.8

 
863.4

 
(35.0
)
 
1,500.2

Equity in earnings (losses) of equity method investees and subsidiaries
828.0

 
(30.6
)
 
289.4

 
(1,065.3
)
 
21.5

Interest income
0.1

 

 
1.3

 

 
1.4

Intercompany interest income
177.8

 
304.8

 
2.3

 
(484.9
)
 

Interest expense
(296.4
)
 
(1.4
)
 
(41.3
)
 

 
(339.1
)
Intercompany interest expense
(222.0
)
 
(161.8
)
 
(101.1
)
 
484.9

 

Loss on write-off of debt issuance costs

 

 
(4.4
)
 

 
(4.4
)
Income before income taxes
502.5

 
767.8

 
1,009.6

 
(1,100.3
)
 
1,179.6

(Provision for) benefit from income taxes
336.8

 
(291.8
)
 
(399.4
)
 
11.0

 
(343.4
)
Net income
839.3

 
476.0

 
610.2

 
(1,089.3
)
 
836.2

Net loss attributable to noncontrolling interests

 

 
3.1

 

 
3.1

Net income attributable to CBI
$
839.3

 
$
476.0

 
$
613.3

 
$
(1,089.3
)
 
$
839.3

 
 
 
 
 
 
 
 
 
 
Comprehensive income attributable to CBI
$
622.4

 
$
476.7

 
$
390.5

 
$
(867.2
)
 
$
622.4


Condensed Consolidating Statement of Cash Flows
 
Parent
Company
 
Subsidiary
Guarantors
 
Subsidiary
Nonguarantors
 
Eliminations
 
Consolidated
(in millions)
 
 
 
 
 
 
 
 
 
Condensed Consolidating Statement of Cash Flows for the Three Months Ended May 31, 2017
Net cash provided by (used in) operating activities
$
(161.0
)
 
$
488.9

 
$
53.7

 
$

 
$
381.6

 
 
 
 
 
 
 
 
 
 
Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
Purchases of property, plant and equipment
(4.8
)
 
(21.9
)
 
(190.4
)
 

 
(217.1
)
Payments related to sale of business

 

 
(5.0
)
 

 
(5.0
)
Net proceeds from intercompany notes
419.3

 

 
0.9

 
(420.2
)
 

Net investments in equity affiliates
(5.8
)
 

 

 
5.8

 

Other investing activities

 

 
0.8

 

 
0.8

Net cash provided by (used in) investing activities
408.7

 
(21.9
)
 
(193.7
)
 
(414.4
)
 
(221.3
)
 
 
 
 
 
 
 
 
 
 
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
Dividends paid to parent company

 

 
(8.0
)
 
8.0

 

Net contributions from equity affiliates

 
11.3

 
2.5

 
(13.8
)
 

Net proceeds from (repayments of) intercompany notes
(1.7
)
 
(450.9
)
 
32.4

 
420.2

 

Principal payments of long-term debt
(1,876.8
)
 
(4.9
)
 
(31.7
)
 

 
(1,913.4
)
Dividends paid
(100.5
)
 

 

 

 
(100.5
)
Payments of minimum tax withholdings on stock-based payment awards

 
(21.4
)
 
(0.9
)
 

 
(22.3
)
Payments of debt issuance costs
(11.8
)
 

 

 

 
(11.8
)
Proceeds from issuance of long-term debt
1,495.5

 

 
13.0

 

 
1,508.5

Net proceeds from notes payable
254.0

 

 
127.3

 

 
381.3

Proceeds from shares issued under equity compensation plans
16.6

 

 

 

 
16.6

Net cash provided by (used in) financing activities
(224.7
)
 
(465.9
)
 
134.6

 
414.4

 
(141.6
)
 
 
 
 
 
 
 
 
 
 
Effect of exchange rate changes on cash and cash equivalents

 

 
3.0

 

 
3.0

 
 
 
 
 
 
 
 
 
 
Net increase (decrease) in cash and cash equivalents
23.0

 
1.1

 
(2.4
)
 

 
21.7

Cash and cash equivalents, beginning of period
9.6

 
5.3

 
162.5

 

 
177.4

Cash and cash equivalents, end of period
$
32.6

 
$
6.4

 
$
160.1

 
$

 
$
199.1

 
 
 
 
 
 
 
 
 
 
 
Parent
Company
 
Subsidiary
Guarantors
 
Subsidiary
Nonguarantors
 
Eliminations
 
Consolidated
(in millions)
 
 
 
 
 
 
 
 
 
Condensed Consolidating Statement of Cash Flows for the Three Months Ended May 31, 2016
Net cash provided by operating activities
$
128.2

 
$
38.5

 
$
529.2

 
$
(350.0
)
 
$
345.9

 
 
 
 
 
 
 
 
 
 
Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
Purchases of property, plant and equipment
(4.1
)
 
(14.9
)
 
(150.4
)
 

 
(169.4
)
Purchase of business

 

 
(284.9
)
 

 
(284.9
)
Net repayments of intercompany notes
(377.2
)
 

 

 
377.2

 

Net returns of capital from equity affiliates
4.8

 

 

 
(4.8
)
 

Other investing activities
0.1

 

 
0.3

 

 
0.4

Net cash used in investing activities
(376.4
)
 
(14.9
)
 
(435.0
)
 
372.4

 
(453.9
)
 
 
 
 
 
 
 
 
 
 
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
Dividends paid to parent company

 

 
(357.0
)
 
357.0

 

Net contributions from equity affiliates

 

 
2.2

 
(2.2
)
 

Net proceeds from intercompany notes
275.5

 
27.6

 
74.1

 
(377.2
)
 

Principal payments of long-term debt
(16.5
)
 
(5.9
)
 
(71.8
)
 

 
(94.2
)
Dividends paid
(79.3
)
 

 

 

 
(79.3
)
Payments of minimum tax withholdings on stock-based payment awards

 
(42.5
)
 
(3.0
)
 

 
(45.5
)
Payments of debt issuance costs

 

 
(3.2
)
 

 
(3.2
)
Proceeds from issuance of long-term debt

 

 
709.5

 

 
709.5

Net repayments of notes payable

 

 
(379.1
)
 

 
(379.1
)
Proceeds from shares issued under equity compensation plans
15.9

 

 

 

 
15.9

Excess tax benefits from stock-based payment awards
68.8

 

 

 

 
68.8

Purchases of treasury stock
(1.0
)
 

 

 

 
(1.0
)
Net cash provided by (used in) financing activities
263.4

 
(20.8
)
 
(28.3
)
 
(22.4
)
 
191.9

 
 
 
 
 
 
 
 
 
 
Effect of exchange rate changes on cash
and cash equivalents

 

 
0.3

 

 
0.3

 
 
 
 
 
 
 
 
 
 
Net increase in cash and cash equivalents
15.2

 
2.8

 
66.2

 

 
84.2

Cash and cash equivalents, beginning of period
6.0

 
3.6

 
73.5

 

 
83.1

Cash and cash equivalents, end of period
$
21.2

 
$
6.4

 
$
139.7

 
$

 
$
167.3

 
Parent
Company
 
Subsidiary
Guarantors
 
Subsidiary
Nonguarantors
 
Eliminations
 
Consolidated
(in millions)
 
 
 
 
 
 
 
 
 
Condensed Consolidating Statement of Cash Flows for the Year Ended February 28, 2017
Net cash provided by operating activities
$
341.4

 
$
1,051.5

 
$
958.5

 
$
(655.4
)
 
$
1,696.0

 
 
 
 
 
 
 
 
 
 
Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
Purchases of businesses, net of cash acquired

 

 
(1,111.0
)
 

 
(1,111.0
)
Purchases of property, plant and equipment
(12.8
)
 
(89.8
)
 
(804.8
)
 

 
(907.4
)
Proceeds from sale of business
(9.9
)
 

 
585.2

 

 
575.3

Net proceeds from intercompany notes
422.0

 

 

 
(422.0
)
 

Net returns of capital from equity affiliates
470.7

 

 

 
(470.7
)
 

Other investing activities
0.7

 
(0.1
)
 
(19.3
)
 

 
(18.7
)
Net cash provided by (used in) investing activities
870.7

 
(89.9
)
 
(1,349.9
)
 
(892.7
)
 
(1,461.8
)
 
 
 
 
 
 
 
 
 
 
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
Dividends paid to parent company

 

 
(868.7
)
 
868.7

 

Net returns of capital to equity affiliates

 
(22.0
)
 
(235.4
)
 
257.4

 

Net proceeds from (repayments of) intercompany notes
(20.2
)
 
(855.4
)
 
453.6

 
422.0

 

Purchases of treasury stock
(1,122.7
)
 

 

 

 
(1,122.7
)
Principal payments of long-term debt
(767.6
)
 
(20.6
)
 
(183.6
)
 

 
(971.8
)
Dividends paid
(315.1
)
 

 

 

 
(315.1
)
Payments of minimum tax withholdings on stock-based payment awards

 
(61.9
)
 
(3.0
)
 

 
(64.9
)
Payments of debt issuance costs and other financing costs
(5.0
)
 

 
(9.1
)
 

 
(14.1
)
Proceeds from issuance of long-term debt
600.0

 

 
1,365.6

 

 
1,965.6

Net proceeds from (repayments of) notes payable
231.0

 

 
(33.9
)
 

 
197.1

Excess tax benefits from stock-based payment awards
131.4

 

 

 

 
131.4

Proceeds from shares issued under equity compensation plans
59.7

 

 

 

 
59.7

Net cash provided by (used in) financing activities
(1,208.5
)
 
(959.9
)
 
485.5

 
1,548.1

 
(134.8
)
 
 
 
 
 
 
 
 
 
 
Effect of exchange rate changes on cash and cash equivalents

 

 
(5.1
)
 

 
(5.1
)
 
 
 
 
 
 
 
 
 
 
Net increase in cash and cash equivalents
3.6

 
1.7

 
89.0

 

 
94.3

Cash and cash equivalents, beginning of year
6.0

 
3.6

 
73.5

 

 
83.1

Cash and cash equivalents, end of year
$
9.6

 
$
5.3

 
$
162.5

 
$

 
$
177.4

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Parent
Company
 
Subsidiary
Guarantors
 
Subsidiary
Nonguarantors
 
Eliminations
 
Consolidated
(in millions)
 
 
 
 
 
 
 
 
 
Condensed Consolidating Statement of Cash Flows for the Year Ended February 29, 2016
Net cash provided by (used in) operating activities
$
(448.7
)
 
$
1,299.5

 
$
617.7

 
$
(54.8
)
 
$
1,413.7

 
 
 
 
 
 
 
 
 
 
Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
Purchases of businesses, net of cash acquired
(998.5
)
 
(316.2
)
 
(1.7
)
 

 
(1,316.4
)
Purchases of property, plant and equipment
(14.1
)
 
(52.3
)
 
(824.9
)
 

 
(891.3
)
Net proceeds from intercompany notes
842.4

 

 

 
(842.4
)
 

Net investments in equity affiliates
(216.7
)
 

 

 
216.7

 

Other investing activities
3.5

 
0.2

 
(3.4
)
 

 
0.3

Net cash used in investing activities
(383.4
)
 
(368.3
)
 
(830.0
)
 
(625.7
)
 
(2,207.4
)
 
 
 
 
 
 
 
 
 
 
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
Dividends paid to parent company

 

 
(88.8
)
 
88.8

 

Net contributions from (returns of) equity affiliates

 
(33.0
)
 
283.7

 
(250.7
)
 

Net proceeds from (repayments of) intercompany notes
250.4

 
(819.8
)
 
(273.0
)
 
842.4

 

Purchases of treasury stock
(33.8
)
 

 

 

 
(33.8
)
Principal payments of long-term debt
(64.5
)
 
(39.4
)
 
(104.8
)
 

 
(208.7
)
Dividends paid
(241.6
)
 

 

 

 
(241.6
)
Payments of minimum tax withholdings on stock-based payment awards

 
(35.9
)
 
(2.7
)
 

 
(38.6
)
Payments of debt issuance costs and other financing costs
(13.3
)
 

 

 

 
(13.3
)
Proceeds from issuance of long-term debt
600.0

 

 
10.0

 

 
610.0

Net proceeds from notes payable

 

 
360.6

 

 
360.6

Excess tax benefits from stock-based payment awards
203.4

 

 

 

 
203.4

Proceeds from shares issued under equity compensation plans
113.0

 

 

 

 
113.0

Proceeds from noncontrolling interests

 

 
25.0

 

 
25.0

Net cash provided by (used in) financing activities
813.6

 
(928.1
)
 
210.0

 
680.5

 
776.0

 
 
 
 
 
 
 
 
 
 
Effect of exchange rate changes on cash and cash equivalents

 

 
(9.3
)
 

 
(9.3
)
 
 
 
 
 
 
 
 
 
 
Net increase (decrease) in cash and cash equivalents
(18.5
)
 
3.1

 
(11.6
)
 

 
(27.0
)
Cash and cash equivalents, beginning of year
24.5

 
0.5

 
85.1

 

 
110.1

Cash and cash equivalents, end of year
$
6.0

 
$
3.6

 
$
73.5

 
$

 
$
83.1

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Parent
Company
 
Subsidiary
Guarantors
 
Subsidiary
Nonguarantors
 
Eliminations
 
Consolidated
(in millions)
 
 
 
 
 
 
 
 
 
Condensed Consolidating Statement of Cash Flows for the Year Ended February 28, 2015
Net cash provided by (used in) operating activities
$
(514.8
)
 
$
834.0

 
$
800.6

 
$
(38.8
)
 
$
1,081.0

 
 
 
 
 
 
 
 
 
 
Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
Purchase of businesses, net of cash acquired

 

 
(310.3
)
 

 
(310.3
)
Purchases of property, plant and equipment
(23.1
)
 
(36.0
)
 
(660.3
)
 

 
(719.4
)
Net proceeds from intercompany notes
485.4

 

 

 
(485.4
)
 

Net investments in equity affiliates
(41.4
)
 

 

 
41.4

 

Other investing activities
(0.1
)
 
(5.6
)
 
19.5

 

 
13.8

Net cash provided by (used in) investing activities
420.8

 
(41.6
)
 
(951.1
)
 
(444.0
)
 
(1,015.9
)
 
 
 
 
 
 
 
 
 
 
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
Dividends paid to parent company

 

 
(65.8
)
 
65.8

 

Net contributions from (returns of capital to) equity affiliates

 
(23.9
)
 
92.3

 
(68.4
)
 

Net proceeds from (repayments of) intercompany notes
(262.8
)
 
(723.2
)
 
500.6

 
485.4

 

Principal payments of long-term debt
(549.2
)
 
(19.4
)
 
(37.1
)
 

 
(605.7
)
Payments of minimum tax withholdings on stock-based payment awards

 
(26.1
)
 
(2.3
)
 

 
(28.4
)
Payments of debt issuance costs and other financing costs
(11.7
)
 

 
(2.1
)
 

 
(13.8
)
Proceeds from issuance of long-term debt
800.0

 

 
105.0

 

 
905.0

Net proceeds from notes payable

 

 
13.1

 

 
13.1

Excess tax benefits from stock-based payment awards
78.0

 

 

 

 
78.0

Proceeds from shares issued under equity compensation plans
63.7

 

 

 

 
63.7

Proceeds from noncontrolling interests

 

 
115.0

 

 
115.0

Payment of delayed purchase price arrangement

 

 
(543.3
)
 

 
(543.3
)
Net cash provided by (used in) financing activities
118.0

 
(792.6
)
 
175.4

 
482.8

 
(16.4
)
 
 
 
 
 
 
 
 
 
 
Effect of exchange rate changes on cash and cash equivalents

 

 
(2.5
)
 

 
(2.5
)
 
 
 
 
 
 
 
 
 
 
Net increase (decrease) in cash and cash equivalents
24.0

 
(0.2
)
 
22.4

 

 
46.2

Cash and cash equivalents, beginning of year
0.5

 
0.7

 
62.7

 

 
63.9

Cash and cash equivalents, end of year
$
24.5

 
$
0.5

 
$
85.1

 
$

 
$
110.1