Condensed Consolidating Financial Information (Tables)
|
9 Months Ended |
Nov. 30, 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 November 30, 2017 |
Current assets: |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
$ |
25.8 |
|
|
$ |
2.7 |
|
|
$ |
126.0 |
|
|
$ |
— |
|
|
$ |
154.5 |
|
Accounts receivable |
2.3 |
|
|
9.7 |
|
|
767.5 |
|
|
— |
|
|
779.5 |
|
Inventories |
184.9 |
|
|
1,589.2 |
|
|
536.1 |
|
|
(142.6 |
) |
|
2,167.6 |
|
Intercompany receivable |
26,244.6 |
|
|
36,443.5 |
|
|
17,989.2 |
|
|
(80,677.3 |
) |
|
— |
|
Prepaid expenses and other |
103.2 |
|
|
56.3 |
|
|
355.4 |
|
|
(70.9 |
) |
|
444.0 |
|
Total current assets |
26,560.8 |
|
|
38,101.4 |
|
|
19,774.2 |
|
|
(80,890.8 |
) |
|
3,545.6 |
|
Property, plant and equipment |
74.0 |
|
|
728.5 |
|
|
3,748.5 |
|
|
— |
|
|
4,551.0 |
|
Investments in subsidiaries |
19,971.6 |
|
|
424.1 |
|
|
5,703.3 |
|
|
(26,099.0 |
) |
|
— |
|
Goodwill |
— |
|
|
6,185.5 |
|
|
1,900.2 |
|
|
— |
|
|
8,085.7 |
|
Intangible assets |
— |
|
|
719.5 |
|
|
2,584.3 |
|
|
— |
|
|
3,303.8 |
|
Intercompany notes receivable |
5,984.9 |
|
|
2,412.5 |
|
|
— |
|
|
(8,397.4 |
) |
|
— |
|
Other assets |
16.9 |
|
|
4.3 |
|
|
599.8 |
|
|
— |
|
|
621.0 |
|
Total assets |
$ |
52,608.2 |
|
|
$ |
48,575.8 |
|
|
$ |
34,310.3 |
|
|
$ |
(115,387.2 |
) |
|
$ |
20,107.1 |
|
|
|
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
|
Short-term borrowings |
$ |
470.4 |
|
|
$ |
— |
|
|
$ |
742.4 |
|
|
$ |
— |
|
|
$ |
1,212.8 |
|
Current maturities of long-term debt |
7.1 |
|
|
15.9 |
|
|
0.2 |
|
|
— |
|
|
23.2 |
|
Accounts payable |
46.0 |
|
|
288.4 |
|
|
407.8 |
|
|
— |
|
|
742.2 |
|
Intercompany payable |
35,929.2 |
|
|
28,537.0 |
|
|
16,211.1 |
|
|
(80,677.3 |
) |
|
— |
|
Other accrued expenses and liabilities |
236.4 |
|
|
248.8 |
|
|
162.7 |
|
|
(90.2 |
) |
|
557.7 |
|
Total current liabilities |
36,689.1 |
|
|
29,090.1 |
|
|
17,524.2 |
|
|
(80,767.5 |
) |
|
2,535.9 |
|
Long-term debt, less current maturities |
7,880.6 |
|
|
11.5 |
|
|
222.1 |
|
|
— |
|
|
8,114.2 |
|
Deferred income taxes |
14.1 |
|
|
720.8 |
|
|
498.7 |
|
|
— |
|
|
1,233.6 |
|
Intercompany notes payable |
— |
|
|
4,985.1 |
|
|
3,412.3 |
|
|
(8,397.4 |
) |
|
— |
|
Other liabilities |
30.5 |
|
|
15.1 |
|
|
168.7 |
|
|
— |
|
|
214.3 |
|
Total liabilities |
44,614.3 |
|
|
34,822.6 |
|
|
21,826.0 |
|
|
(89,164.9 |
) |
|
12,098.0 |
|
Total CBI stockholders’ equity |
7,993.9 |
|
|
13,753.2 |
|
|
12,469.1 |
|
|
(26,222.3 |
) |
|
7,993.9 |
|
Noncontrolling interests |
— |
|
|
— |
|
|
15.2 |
|
|
— |
|
|
15.2 |
|
Total stockholders’ equity |
7,993.9 |
|
|
13,753.2 |
|
|
12,484.3 |
|
|
(26,222.3 |
) |
|
8,009.1 |
|
Total liabilities and stockholders’ equity |
$ |
52,608.2 |
|
|
$ |
48,575.8 |
|
|
$ |
34,310.3 |
|
|
$ |
(115,387.2 |
) |
|
$ |
20,107.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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: |
|
|
|
|
|
|
|
|
|
Short-term borrowings |
$ |
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 |
|
|
| Condensed Consolidating Statement of Comprehensive Income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Comprehensive Income for the Nine Months Ended November 30, 2017 |
Sales |
$ |
2,174.3 |
|
|
$ |
5,277.5 |
|
|
$ |
2,638.1 |
|
|
$ |
(3,698.5 |
) |
|
$ |
6,391.4 |
|
Excise taxes |
(263.2 |
) |
|
(299.7 |
) |
|
(9.4 |
) |
|
— |
|
|
(572.3 |
) |
Net sales |
1,911.1 |
|
|
4,977.8 |
|
|
2,628.7 |
|
|
(3,698.5 |
) |
|
5,819.1 |
|
Cost of product sold |
(1,524.4 |
) |
|
(3,686.0 |
) |
|
(1,350.6 |
) |
|
3,710.0 |
|
|
(2,851.0 |
) |
Gross profit |
386.7 |
|
|
1,291.8 |
|
|
1,278.1 |
|
|
11.5 |
|
|
2,968.1 |
|
Selling, general and administrative expenses |
(347.1 |
) |
|
(661.0 |
) |
|
(202.1 |
) |
|
10.9 |
|
|
(1,199.3 |
) |
Operating income |
39.6 |
|
|
630.8 |
|
|
1,076.0 |
|
|
22.4 |
|
|
1,768.8 |
|
Equity in earnings (losses) of equity method investees and subsidiaries |
1,523.5 |
|
|
(14.6 |
) |
|
365.4 |
|
|
(1,841.4 |
) |
|
32.9 |
|
Unrealized gain on equity securities |
— |
|
|
— |
|
|
216.8 |
|
|
— |
|
|
216.8 |
|
Interest income |
0.1 |
|
|
— |
|
|
0.3 |
|
|
— |
|
|
0.4 |
|
Intercompany interest income |
177.1 |
|
|
365.2 |
|
|
3.3 |
|
|
(545.6 |
) |
|
— |
|
Interest expense |
(198.6 |
) |
|
(0.9 |
) |
|
(46.0 |
) |
|
— |
|
|
(245.5 |
) |
Intercompany interest expense |
(293.1 |
) |
|
(147.2 |
) |
|
(105.3 |
) |
|
545.6 |
|
|
— |
|
Loss on write-off of debt issuance costs |
(7.0 |
) |
|
— |
|
|
(12.1 |
) |
|
— |
|
|
(19.1 |
) |
Income before income taxes |
1,241.6 |
|
|
833.3 |
|
|
1,498.4 |
|
|
(1,819.0 |
) |
|
1,754.3 |
|
(Provision for) benefit from income taxes |
151.8 |
|
|
(291.2 |
) |
|
(188.1 |
) |
|
(24.8 |
) |
|
(352.3 |
) |
Net income |
1,393.4 |
|
|
542.1 |
|
|
1,310.3 |
|
|
(1,843.8 |
) |
|
1,402.0 |
|
Net income attributable to noncontrolling interests |
— |
|
|
— |
|
|
(8.6 |
) |
|
— |
|
|
(8.6 |
) |
Net income attributable to CBI |
$ |
1,393.4 |
|
|
$ |
542.1 |
|
|
$ |
1,301.7 |
|
|
$ |
(1,843.8 |
) |
|
$ |
1,393.4 |
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income attributable to CBI |
$ |
1,584.2 |
|
|
$ |
541.9 |
|
|
$ |
1,496.7 |
|
|
$ |
(2,038.6 |
) |
|
$ |
1,584.2 |
|
|
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Comprehensive Income for the Nine Months Ended November 30, 2016 |
Sales |
$ |
2,070.2 |
|
|
$ |
4,911.8 |
|
|
$ |
2,736.3 |
|
|
$ |
(3,449.8 |
) |
|
$ |
6,268.5 |
|
Excise taxes |
(260.0 |
) |
|
(254.0 |
) |
|
(51.0 |
) |
|
— |
|
|
(565.0 |
) |
Net sales |
1,810.2 |
|
|
4,657.8 |
|
|
2,685.3 |
|
|
(3,449.8 |
) |
|
5,703.5 |
|
Cost of product sold |
(1,472.9 |
) |
|
(3,398.8 |
) |
|
(1,529.4 |
) |
|
3,439.3 |
|
|
(2,961.8 |
) |
Gross profit |
337.3 |
|
|
1,259.0 |
|
|
1,155.9 |
|
|
(10.5 |
) |
|
2,741.7 |
|
Selling, general and administrative expenses |
(310.4 |
) |
|
(531.0 |
) |
|
(224.2 |
) |
|
21.5 |
|
|
(1,044.1 |
) |
Operating income |
26.9 |
|
|
728.0 |
|
|
931.7 |
|
|
11.0 |
|
|
1,697.6 |
|
Equity in earnings (losses) of equity method investees and subsidiaries |
1,207.6 |
|
|
(19.9 |
) |
|
325.1 |
|
|
(1,484.6 |
) |
|
28.2 |
|
Interest income |
0.4 |
|
|
— |
|
|
0.9 |
|
|
— |
|
|
1.3 |
|
Intercompany interest income |
170.9 |
|
|
297.7 |
|
|
2.6 |
|
|
(471.2 |
) |
|
— |
|
Interest expense |
(212.6 |
) |
|
(1.2 |
) |
|
(43.8 |
) |
|
— |
|
|
(257.6 |
) |
Intercompany interest expense |
(229.2 |
) |
|
(149.2 |
) |
|
(92.8 |
) |
|
471.2 |
|
|
— |
|
Income before income taxes |
964.0 |
|
|
855.4 |
|
|
1,123.7 |
|
|
(1,473.6 |
) |
|
1,469.5 |
|
(Provision for) benefit from income taxes |
119.1 |
|
|
(322.3 |
) |
|
(184.7 |
) |
|
(4.3 |
) |
|
(392.2 |
) |
Net income |
1,083.1 |
|
|
533.1 |
|
|
939.0 |
|
|
(1,477.9 |
) |
|
1,077.3 |
|
Net loss attributable to noncontrolling interests |
— |
|
|
— |
|
|
5.8 |
|
|
— |
|
|
5.8 |
|
Net income attributable to CBI |
$ |
1,083.1 |
|
|
$ |
533.1 |
|
|
$ |
944.8 |
|
|
$ |
(1,477.9 |
) |
|
$ |
1,083.1 |
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income attributable to CBI |
$ |
938.9 |
|
|
$ |
533.2 |
|
|
$ |
792.1 |
|
|
$ |
(1,325.3 |
) |
|
$ |
938.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Comprehensive Income for the Three Months Ended November 30, 2017 |
Sales |
$ |
755.9 |
|
|
$ |
1,583.4 |
|
|
$ |
795.6 |
|
|
$ |
(1,156.0 |
) |
|
$ |
1,978.9 |
|
Excise taxes |
(89.2 |
) |
|
(87.1 |
) |
|
(3.5 |
) |
|
— |
|
|
(179.8 |
) |
Net sales |
666.7 |
|
|
1,496.3 |
|
|
792.1 |
|
|
(1,156.0 |
) |
|
1,799.1 |
|
Cost of product sold |
(537.9 |
) |
|
(1,111.3 |
) |
|
(397.4 |
) |
|
1,155.0 |
|
|
(891.6 |
) |
Gross profit |
128.8 |
|
|
385.0 |
|
|
394.7 |
|
|
(1.0 |
) |
|
907.5 |
|
Selling, general and administrative expenses |
(130.8 |
) |
|
(186.9 |
) |
|
(108.1 |
) |
|
5.1 |
|
|
(420.7 |
) |
Operating income (loss) |
(2.0 |
) |
|
198.1 |
|
|
286.6 |
|
|
4.1 |
|
|
486.8 |
|
Equity in earnings of equity method investees and subsidiaries |
550.2 |
|
|
8.8 |
|
|
120.7 |
|
|
(647.4 |
) |
|
32.3 |
|
Unrealized gain on equity securities |
— |
|
|
— |
|
|
216.8 |
|
|
— |
|
|
216.8 |
|
Interest income |
0.1 |
|
|
— |
|
|
0.1 |
|
|
— |
|
|
0.2 |
|
Intercompany interest income |
60.3 |
|
|
125.2 |
|
|
0.9 |
|
|
(186.4 |
) |
|
— |
|
Interest expense |
(69.5 |
) |
|
(0.4 |
) |
|
(11.7 |
) |
|
— |
|
|
(81.6 |
) |
Intercompany interest expense |
(101.4 |
) |
|
(48.7 |
) |
|
(36.3 |
) |
|
186.4 |
|
|
— |
|
Loss on write-off of debt issuance costs |
— |
|
|
— |
|
|
(10.3 |
) |
|
— |
|
|
(10.3 |
) |
Income before income taxes |
437.7 |
|
|
283.0 |
|
|
566.8 |
|
|
(643.3 |
) |
|
644.2 |
|
(Provision for) benefit from income taxes |
53.4 |
|
|
(98.1 |
) |
|
(102.8 |
) |
|
(2.0 |
) |
|
(149.5 |
) |
Net income |
491.1 |
|
|
184.9 |
|
|
464.0 |
|
|
(645.3 |
) |
|
494.7 |
|
Net income attributable to noncontrolling interests |
— |
|
|
— |
|
|
(3.6 |
) |
|
— |
|
|
(3.6 |
) |
Net income attributable to CBI |
$ |
491.1 |
|
|
$ |
184.9 |
|
|
$ |
460.4 |
|
|
$ |
(645.3 |
) |
|
$ |
491.1 |
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income attributable to CBI |
$ |
369.5 |
|
|
$ |
186.7 |
|
|
$ |
337.1 |
|
|
$ |
(523.8 |
) |
|
$ |
369.5 |
|
|
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Comprehensive Income for the Three Months Ended November 30, 2016 |
Sales |
$ |
734.7 |
|
|
$ |
1,510.4 |
|
|
$ |
862.0 |
|
|
$ |
(1,114.4 |
) |
|
$ |
1,992.7 |
|
Excise taxes |
(89.9 |
) |
|
(73.7 |
) |
|
(18.6 |
) |
|
— |
|
|
(182.2 |
) |
Net sales |
644.8 |
|
|
1,436.7 |
|
|
843.4 |
|
|
(1,114.4 |
) |
|
1,810.5 |
|
Cost of product sold |
(522.4 |
) |
|
(1,032.5 |
) |
|
(471.1 |
) |
|
1,106.9 |
|
|
(919.1 |
) |
Gross profit |
122.4 |
|
|
404.2 |
|
|
372.3 |
|
|
(7.5 |
) |
|
891.4 |
|
Selling, general and administrative expenses |
(109.8 |
) |
|
(174.7 |
) |
|
(83.7 |
) |
|
10.8 |
|
|
(357.4 |
) |
Operating income |
12.6 |
|
|
229.5 |
|
|
288.6 |
|
|
3.3 |
|
|
534.0 |
|
Equity in earnings of equity method investees and subsidiaries |
431.2 |
|
|
3.3 |
|
|
116.2 |
|
|
(523.2 |
) |
|
27.5 |
|
Interest income |
— |
|
|
— |
|
|
0.3 |
|
|
— |
|
|
0.3 |
|
Intercompany interest income |
56.2 |
|
|
103.1 |
|
|
0.8 |
|
|
(160.1 |
) |
|
— |
|
Interest expense |
(61.5 |
) |
|
(0.4 |
) |
|
(16.0 |
) |
|
— |
|
|
(77.9 |
) |
Intercompany interest expense |
(80.2 |
) |
|
(48.2 |
) |
|
(31.7 |
) |
|
160.1 |
|
|
— |
|
Income before income taxes |
358.3 |
|
|
287.3 |
|
|
358.2 |
|
|
(519.9 |
) |
|
483.9 |
|
(Provision for) benefit from income taxes |
47.6 |
|
|
(105.1 |
) |
|
(21.3 |
) |
|
(0.1 |
) |
|
(78.9 |
) |
Net income |
405.9 |
|
|
182.2 |
|
|
336.9 |
|
|
(520.0 |
) |
|
405.0 |
|
Net loss attributable to noncontrolling interests |
— |
|
|
— |
|
|
0.9 |
|
|
— |
|
|
0.9 |
|
Net income attributable to CBI |
$ |
405.9 |
|
|
$ |
182.2 |
|
|
$ |
337.8 |
|
|
$ |
(520.0 |
) |
|
$ |
405.9 |
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income attributable to CBI |
$ |
252.3 |
|
|
$ |
183.0 |
|
|
$ |
176.6 |
|
|
$ |
(359.6 |
) |
|
$ |
252.3 |
|
|
| Condensed Consolidating Statement of Cash Flows |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Cash Flows for the Nine Months Ended November 30, 2017 |
Net cash provided by (used in) operating activities |
$ |
(315.2 |
) |
|
$ |
1,060.7 |
|
|
$ |
722.9 |
|
|
$ |
— |
|
|
$ |
1,468.4 |
|
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
|
Purchases of property, plant and equipment |
(15.4 |
) |
|
(83.9 |
) |
|
(606.3 |
) |
|
— |
|
|
(705.6 |
) |
Investment in equity securities |
— |
|
|
— |
|
|
(191.3 |
) |
|
— |
|
|
(191.3 |
) |
Purchases of businesses, net of cash acquired |
— |
|
|
(70.9 |
) |
|
(61.0 |
) |
|
— |
|
|
(131.9 |
) |
Payments related to sale of business |
— |
|
|
— |
|
|
(5.0 |
) |
|
— |
|
|
(5.0 |
) |
Net proceeds from intercompany notes |
134.5 |
|
|
— |
|
|
2.8 |
|
|
(137.3 |
) |
|
— |
|
Net investments in equity affiliates |
(1,350.6 |
) |
|
— |
|
|
— |
|
|
1,350.6 |
|
|
— |
|
Other investing activities |
(6.2 |
) |
|
— |
|
|
1.7 |
|
|
— |
|
|
(4.5 |
) |
Net cash used in investing activities |
(1,237.7 |
) |
|
(154.8 |
) |
|
(859.1 |
) |
|
1,213.3 |
|
|
(1,038.3 |
) |
|
|
|
|
|
|
|
|
|
|
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
|
Dividends paid to parent company |
— |
|
|
— |
|
|
(33.0 |
) |
|
33.0 |
|
|
— |
|
|
Net contributions from (returns of capital to) equity affiliates
|
— |
|
|
(0.2 |
) |
|
1,383.8 |
|
|
(1,383.6 |
) |
|
— |
|
Net proceeds from (repayments of) intercompany notes |
(11.6 |
) |
|
(871.9 |
) |
|
746.2 |
|
|
137.3 |
|
|
— |
|
Principal payments of long-term debt |
(2,116.6 |
) |
|
(14.5 |
) |
|
(4,391.7 |
) |
|
— |
|
|
(6,522.8 |
) |
Dividends paid |
(301.1 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(301.1 |
) |
Purchases of treasury stock |
(239.2 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(239.2 |
) |
Payments of debt issuance costs |
(28.9 |
) |
|
— |
|
|
(3.5 |
) |
|
— |
|
|
(32.4 |
) |
Payments of minimum tax withholdings on stock-based payment awards |
— |
|
|
(21.9 |
) |
|
(1.0 |
) |
|
— |
|
|
(22.9 |
) |
Proceeds from issuance of long-term debt |
3,990.4 |
|
|
— |
|
|
2,027.5 |
|
|
— |
|
|
6,017.9 |
|
Net proceeds from short-term borrowings |
238.6 |
|
|
— |
|
|
366.3 |
|
|
— |
|
|
604.9 |
|
Proceeds from shares issued under equity compensation plans |
37.5 |
|
|
— |
|
|
— |
|
|
— |
|
|
37.5 |
|
Net cash provided by (used in) financing activities |
1,569.1 |
|
|
(908.5 |
) |
|
94.6 |
|
|
(1,213.3 |
) |
|
(458.1 |
) |
|
|
|
|
|
|
|
|
|
|
Effect of exchange rate changes on cash and cash equivalents |
— |
|
|
— |
|
|
5.1 |
|
|
— |
|
|
5.1 |
|
|
|
|
|
|
|
|
|
|
|
Net increase (decrease) in cash and cash equivalents |
16.2 |
|
|
(2.6 |
) |
|
(36.5 |
) |
|
— |
|
|
(22.9 |
) |
Cash and cash equivalents, beginning of period |
9.6 |
|
|
5.3 |
|
|
162.5 |
|
|
— |
|
|
177.4 |
|
Cash and cash equivalents, end of period |
$ |
25.8 |
|
|
$ |
2.7 |
|
|
$ |
126.0 |
|
|
$ |
— |
|
|
$ |
154.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Cash Flows for the Nine Months Ended November 30, 2016 |
Net cash provided by operating activities |
$ |
360.3 |
|
|
$ |
773.3 |
|
|
$ |
937.5 |
|
|
$ |
(655.4 |
) |
|
$ |
1,415.7 |
|
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
|
Purchases of property, plant and equipment |
(6.3 |
) |
|
(51.9 |
) |
|
(533.4 |
) |
|
— |
|
|
(591.6 |
) |
Purchase of businesses, net of cash acquired |
— |
|
|
— |
|
|
(542.2 |
) |
|
— |
|
|
(542.2 |
) |
Net proceeds from (repayments of) intercompany notes |
259.1 |
|
|
— |
|
|
(2.6 |
) |
|
(256.5 |
) |
|
— |
|
Net returns of capital from equity affiliates |
198.3 |
|
|
— |
|
|
— |
|
|
(198.3 |
) |
|
— |
|
Other investing activities |
0.2 |
|
|
0.2 |
|
|
(15.7 |
) |
|
— |
|
|
(15.3 |
) |
Net cash provided by (used in) investing activities |
451.3 |
|
|
(51.7 |
) |
|
(1,093.9 |
) |
|
(454.8 |
) |
|
(1,149.1 |
) |
|
|
|
|
|
|
|
|
|
|
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
|
Dividends paid to parent company |
— |
|
|
— |
|
|
(850.4 |
) |
|
850.4 |
|
|
— |
|
Net contributions from (returns of capital to) equity affiliates |
— |
|
|
(8.6 |
) |
|
5.3 |
|
|
3.3 |
|
|
— |
|
Net proceeds from (repayments of) intercompany notes |
186.3 |
|
|
(631.9 |
) |
|
189.1 |
|
|
256.5 |
|
|
— |
|
Principal payments of long-term debt |
(751.2 |
) |
|
(15.8 |
) |
|
(140.7 |
) |
|
— |
|
|
(907.7 |
) |
Dividends paid |
(238.3 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(238.3 |
) |
Purchases of treasury stock |
(372.6 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(372.6 |
) |
Payments of debt issuance costs |
— |
|
|
— |
|
|
(6.6 |
) |
|
— |
|
|
(6.6 |
) |
Payments of minimum tax withholdings on stock-based payment awards |
— |
|
|
(61.7 |
) |
|
(5.2 |
) |
|
— |
|
|
(66.9 |
) |
Proceeds from issuance of long-term debt |
— |
|
|
— |
|
|
1,350.1 |
|
|
— |
|
|
1,350.1 |
|
Net proceeds from (repayments of) short-term borrowings |
220.0 |
|
|
— |
|
|
(275.9 |
) |
|
— |
|
|
(55.9 |
) |
Proceeds from shares issued under equity compensation plans |
39.3 |
|
|
— |
|
|
— |
|
|
— |
|
|
39.3 |
|
Excess tax benefits from stock-based payment awards |
112.2 |
|
|
— |
|
|
— |
|
|
— |
|
|
112.2 |
|
Net cash provided by (used in) financing activities |
(804.3 |
) |
|
(718.0 |
) |
|
265.7 |
|
|
1,110.2 |
|
|
(146.4 |
) |
|
|
|
|
|
|
|
|
|
|
|
Effect of exchange rate changes on cash
and cash equivalents
|
— |
|
|
— |
|
|
(6.0 |
) |
|
— |
|
|
(6.0 |
) |
|
|
|
|
|
|
|
|
|
|
Net increase in cash and cash equivalents |
7.3 |
|
|
3.6 |
|
|
103.3 |
|
|
— |
|
|
114.2 |
|
Cash and cash equivalents, beginning of period |
6.0 |
|
|
3.6 |
|
|
73.5 |
|
|
— |
|
|
83.1 |
|
Cash and cash equivalents, end of period |
$ |
13.3 |
|
|
$ |
7.2 |
|
|
$ |
176.8 |
|
|
$ |
— |
|
|
$ |
197.3 |
|
|