Condensed Consolidating Financial Information (Tables)
|
12 Months Ended |
Feb. 28, 2018 |
|---|
| 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 February 28, 2018 |
Current assets: |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
$ |
4.6 |
|
|
$ |
4.4 |
|
|
$ |
81.3 |
|
|
$ |
— |
|
|
$ |
90.3 |
|
Accounts receivable |
2.0 |
|
|
12.6 |
|
|
761.6 |
|
|
— |
|
|
776.2 |
|
Inventories |
184.3 |
|
|
1,537.5 |
|
|
546.6 |
|
|
(184.4 |
) |
|
2,084.0 |
|
Intercompany receivable |
27,680.0 |
|
|
37,937.5 |
|
|
18,940.8 |
|
|
(84,558.3 |
) |
|
— |
|
Prepaid expenses and other |
138.4 |
|
|
77.7 |
|
|
311.0 |
|
|
(3.6 |
) |
|
523.5 |
|
Total current assets |
28,009.3 |
|
|
39,569.7 |
|
|
20,641.3 |
|
|
(84,746.3 |
) |
|
3,474.0 |
|
Property, plant and equipment |
76.2 |
|
|
775.7 |
|
|
3,937.8 |
|
|
— |
|
|
4,789.7 |
|
Investments in subsidiaries |
20,956.5 |
|
|
442.0 |
|
|
5,884.7 |
|
|
(27,283.2 |
) |
|
— |
|
Goodwill |
— |
|
|
6,185.5 |
|
|
1,897.6 |
|
|
— |
|
|
8,083.1 |
|
Intangible assets |
— |
|
|
718.2 |
|
|
2,586.6 |
|
|
— |
|
|
3,304.8 |
|
Intercompany notes receivable |
6,236.4 |
|
|
2,435.4 |
|
|
— |
|
|
(8,671.8 |
) |
|
— |
|
Other assets |
15.7 |
|
|
4.7 |
|
|
866.7 |
|
|
— |
|
|
887.1 |
|
Total assets |
$ |
55,294.1 |
|
|
$ |
50,131.2 |
|
|
$ |
35,814.7 |
|
|
$ |
(120,701.3 |
) |
|
$ |
20,538.7 |
|
|
|
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
|
Short-term borrowings |
$ |
266.9 |
|
|
$ |
— |
|
|
$ |
479.9 |
|
|
$ |
— |
|
|
$ |
746.8 |
|
Current maturities of long-term debt |
7.1 |
|
|
15.0 |
|
|
0.2 |
|
|
— |
|
|
22.3 |
|
Accounts payable |
63.4 |
|
|
128.3 |
|
|
400.5 |
|
|
— |
|
|
592.2 |
|
Intercompany payable |
37,408.2 |
|
|
30,029.7 |
|
|
17,120.4 |
|
|
(84,558.3 |
) |
|
— |
|
Other accrued expenses and liabilities |
271.7 |
|
|
188.9 |
|
|
150.5 |
|
|
(27.7 |
) |
|
583.4 |
|
Total current liabilities |
38,017.3 |
|
|
30,361.9 |
|
|
18,151.5 |
|
|
(84,586.0 |
) |
|
1,944.7 |
|
Long-term debt, less current maturities |
9,166.9 |
|
|
9.1 |
|
|
241.6 |
|
|
— |
|
|
9,417.6 |
|
Deferred income taxes |
3.9 |
|
|
473.0 |
|
|
241.4 |
|
|
— |
|
|
718.3 |
|
Intercompany notes payable |
— |
|
|
5,029.2 |
|
|
3,642.6 |
|
|
(8,671.8 |
) |
|
— |
|
Other liabilities |
59.9 |
|
|
23.1 |
|
|
312.4 |
|
|
— |
|
|
395.4 |
|
Total liabilities |
47,248.0 |
|
|
35,896.3 |
|
|
22,589.5 |
|
|
(93,257.8 |
) |
|
12,476.0 |
|
Total CBI stockholders’ equity |
8,046.1 |
|
|
14,234.9 |
|
|
13,208.6 |
|
|
(27,443.5 |
) |
|
8,046.1 |
|
Noncontrolling interests |
— |
|
|
— |
|
|
16.6 |
|
|
— |
|
|
16.6 |
|
Total stockholders’ equity |
8,046.1 |
|
|
14,234.9 |
|
|
13,225.2 |
|
|
(27,443.5 |
) |
|
8,062.7 |
|
Total liabilities and stockholders’ equity |
$ |
55,294.1 |
|
|
$ |
50,131.2 |
|
|
$ |
35,814.7 |
|
|
$ |
(120,701.3 |
) |
|
$ |
20,538.7 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 Year Ended February 28, 2018 |
Sales |
$ |
2,960.1 |
|
|
$ |
6,820.9 |
|
|
$ |
3,499.6 |
|
|
$ |
(4,953.8 |
) |
|
$ |
8,326.8 |
|
Excise taxes |
(353.5 |
) |
|
(375.6 |
) |
|
(12.7 |
) |
|
— |
|
|
(741.8 |
) |
Net sales |
2,606.6 |
|
|
6,445.3 |
|
|
3,486.9 |
|
|
(4,953.8 |
) |
|
7,585.0 |
|
Cost of product sold |
(2,080.3 |
) |
|
(4,809.5 |
) |
|
(1,795.7 |
) |
|
4,917.7 |
|
|
(3,767.8 |
) |
Gross profit |
526.3 |
|
|
1,635.8 |
|
|
1,691.2 |
|
|
(36.1 |
) |
|
3,817.2 |
|
Selling, general and administrative expenses |
(468.8 |
) |
|
(820.0 |
) |
|
(259.9 |
) |
|
16.0 |
|
|
(1,532.7 |
) |
Operating income |
57.5 |
|
|
815.8 |
|
|
1,431.3 |
|
|
(20.1 |
) |
|
2,284.5 |
|
Equity in earnings (losses) of equity method investees and subsidiaries |
2,515.3 |
|
|
(13.9 |
) |
|
548.0 |
|
|
(3,014.8 |
) |
|
34.6 |
|
Unrealized gain on equity securities and related activities |
— |
|
|
— |
|
|
452.6 |
|
|
— |
|
|
452.6 |
|
Interest income |
0.4 |
|
|
— |
|
|
1.9 |
|
|
— |
|
|
2.3 |
|
Intercompany interest income |
240.9 |
|
|
491.1 |
|
|
4.2 |
|
|
(736.2 |
) |
|
— |
|
Interest expense |
(279.1 |
) |
|
(1.1 |
) |
|
(54.1 |
) |
|
— |
|
|
(334.3 |
) |
Intercompany interest expense |
(395.3 |
) |
|
(195.6 |
) |
|
(145.3 |
) |
|
736.2 |
|
|
— |
|
Loss on extinguishment of debt |
(81.8 |
) |
|
— |
|
|
(15.2 |
) |
|
— |
|
|
(97.0 |
) |
Income before income taxes |
2,057.9 |
|
|
1,096.3 |
|
|
2,223.4 |
|
|
(3,034.9 |
) |
|
2,342.7 |
|
(Provision for) benefit from income taxes |
261.0 |
|
|
(72.1 |
) |
|
(180.9 |
) |
|
(19.9 |
) |
|
(11.9 |
) |
Net income |
2,318.9 |
|
|
1,024.2 |
|
|
2,042.5 |
|
|
(3,054.8 |
) |
|
2,330.8 |
|
Net income attributable to noncontrolling interests |
— |
|
|
— |
|
|
(11.9 |
) |
|
— |
|
|
(11.9 |
) |
Net income attributable to CBI |
$ |
2,318.9 |
|
|
$ |
1,024.2 |
|
|
$ |
2,030.6 |
|
|
$ |
(3,054.8 |
) |
|
$ |
2,318.9 |
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income attributable to CBI |
$ |
2,515.8 |
|
|
$ |
1,024.6 |
|
|
$ |
2,232.6 |
|
|
$ |
(3,257.2 |
) |
|
$ |
2,515.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
|
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 |
|
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 extinguishment of debt |
(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 |
|
|
| Condensed Consolidating Statement of Cash Flows |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Cash Flows for the Year Ended February 28, 2018 |
Net cash provided by (used in) operating activities |
$ |
(374.5 |
) |
|
$ |
1,288.2 |
|
|
$ |
1,017.7 |
|
|
$ |
— |
|
|
$ |
1,931.4 |
|
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
|
Purchases of property, plant and equipment |
(21.3 |
) |
|
(128.3 |
) |
|
(908.0 |
) |
|
— |
|
|
(1,057.6 |
) |
Investment in equity securities |
— |
|
|
— |
|
|
(191.3 |
) |
|
— |
|
|
(191.3 |
) |
Purchases of businesses, net of cash acquired |
— |
|
|
(70.9 |
) |
|
(79.2 |
) |
|
— |
|
|
(150.1 |
) |
Payments related to sale of business |
— |
|
|
— |
|
|
(5.0 |
) |
|
— |
|
|
(5.0 |
) |
Net proceeds from intercompany notes |
265.8 |
|
|
— |
|
|
3.8 |
|
|
(269.6 |
) |
|
— |
|
Net investment in equity affiliates |
(1,355.0 |
) |
|
— |
|
|
— |
|
|
1,355.0 |
|
|
— |
|
Other investing activities |
(6.1 |
) |
|
(0.1 |
) |
|
(12.9 |
) |
|
— |
|
|
(19.1 |
) |
Net cash used in investing activities |
(1,116.6 |
) |
|
(199.3 |
) |
|
(1,192.6 |
) |
|
1,085.4 |
|
|
(1,423.1 |
) |
|
|
|
|
|
|
|
|
|
|
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
|
Dividends paid to parent company |
— |
|
|
— |
|
|
(70.0 |
) |
|
70.0 |
|
|
— |
|
Net contributions from equity affiliates |
— |
|
|
0.9 |
|
|
1,424.1 |
|
|
(1,425.0 |
) |
|
— |
|
Net proceeds from (repayments of) intercompany notes |
(211.0 |
) |
|
(1,041.1 |
) |
|
982.5 |
|
|
269.6 |
|
|
— |
|
Principal payments of long-term debt |
(2,717.8 |
) |
|
(19.1 |
) |
|
(4,391.8 |
) |
|
— |
|
|
(7,128.7 |
) |
Purchases of treasury stock |
(1,038.5 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(1,038.5 |
) |
Dividends paid |
(400.1 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(400.1 |
) |
Payments of debt extinguishment, debt issuance and other financing costs |
(115.6 |
) |
|
— |
|
|
(6.6 |
) |
|
— |
|
|
(122.2 |
) |
Payments of minimum tax withholdings on stock-based payment awards |
— |
|
|
(30.5 |
) |
|
(1.2 |
) |
|
— |
|
|
(31.7 |
) |
Proceeds from issuance of long-term debt |
5,886.4 |
|
|
— |
|
|
2,047.0 |
|
|
— |
|
|
7,933.4 |
|
Net proceeds from short-term borrowings |
33.3 |
|
|
— |
|
|
103.9 |
|
|
— |
|
|
137.2 |
|
Proceeds from shares issued under equity compensation plans |
49.4 |
|
|
— |
|
|
— |
|
|
— |
|
|
49.4 |
|
Net cash provided by (used in) financing activities |
1,486.1 |
|
|
(1,089.8 |
) |
|
87.9 |
|
|
(1,085.4 |
) |
|
(601.2 |
) |
|
|
|
|
|
|
|
|
|
|
Effect of exchange rate changes on cash and cash equivalents |
— |
|
|
— |
|
|
5.8 |
|
|
— |
|
|
5.8 |
|
|
|
|
|
|
|
|
|
|
|
Net decrease in cash and cash equivalents |
(5.0 |
) |
|
(0.9 |
) |
|
(81.2 |
) |
|
— |
|
|
(87.1 |
) |
Cash and cash equivalents, beginning of year |
9.6 |
|
|
5.3 |
|
|
162.5 |
|
|
— |
|
|
177.4 |
|
Cash and cash equivalents, end of year |
$ |
4.6 |
|
|
$ |
4.4 |
|
|
$ |
81.3 |
|
|
$ |
— |
|
|
$ |
90.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 property, plant and equipment |
(12.8 |
) |
|
(89.8 |
) |
|
(804.8 |
) |
|
— |
|
|
(907.4 |
) |
Purchases of businesses, net of cash acquired |
— |
|
|
— |
|
|
(1,111.0 |
) |
|
— |
|
|
(1,111.0 |
) |
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 |
|
|
— |
|
Principal payments of long-term debt |
(767.6 |
) |
|
(20.6 |
) |
|
(183.6 |
) |
|
— |
|
|
(971.8 |
) |
Purchases of treasury stock |
(1,122.7 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(1,122.7 |
) |
Dividends paid |
(315.1 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(315.1 |
) |
Payments of debt extinguishment, debt issuance and other financing costs |
(5.0 |
) |
|
— |
|
|
(9.1 |
) |
|
— |
|
|
(14.1 |
) |
Payments of minimum tax withholdings on stock-based payment awards |
— |
|
|
(61.9 |
) |
|
(3.0 |
) |
|
— |
|
|
(64.9 |
) |
Proceeds from issuance of long-term debt |
600.0 |
|
|
— |
|
|
1,365.6 |
|
|
— |
|
|
1,965.6 |
|
Net proceeds from (repayments of) short-term borrowings |
231.0 |
|
|
— |
|
|
(33.9 |
) |
|
— |
|
|
197.1 |
|
Proceeds from shares issued under equity compensation plans |
59.7 |
|
|
— |
|
|
— |
|
|
— |
|
|
59.7 |
|
Excess tax benefits from stock-based payment awards |
131.4 |
|
|
— |
|
|
— |
|
|
— |
|
|
131.4 |
|
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 property, plant and equipment |
(14.1 |
) |
|
(52.3 |
) |
|
(824.9 |
) |
|
— |
|
|
(891.3 |
) |
Purchases of businesses, net of cash acquired |
(998.5 |
) |
|
(316.2 |
) |
|
(1.7 |
) |
|
— |
|
|
(1,316.4 |
) |
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 capital to) equity affiliates |
— |
|
|
(33.0 |
) |
|
283.7 |
|
|
(250.7 |
) |
|
— |
|
Net proceeds from (repayments of) intercompany notes |
250.4 |
|
|
(819.8 |
) |
|
(273.0 |
) |
|
842.4 |
|
|
— |
|
Principal payments of long-term debt |
(64.5 |
) |
|
(39.4 |
) |
|
(104.8 |
) |
|
— |
|
|
(208.7 |
) |
Purchases of treasury stock |
(33.8 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(33.8 |
) |
Dividends paid |
(241.6 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(241.6 |
) |
Payments of debt extinguishment, debt issuance and other financing costs |
(13.3 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(13.3 |
) |
Payments of minimum tax withholdings on stock-based payment awards |
— |
|
|
(35.9 |
) |
|
(2.7 |
) |
|
— |
|
|
(38.6 |
) |
Proceeds from issuance of long-term debt |
600.0 |
|
|
— |
|
|
10.0 |
|
|
— |
|
|
610.0 |
|
Net proceeds from short-term borrowings |
— |
|
|
— |
|
|
360.6 |
|
|
— |
|
|
360.6 |
|
Proceeds from shares issued under equity compensation plans |
113.0 |
|
|
— |
|
|
— |
|
|
— |
|
|
113.0 |
|
Excess tax benefits from stock-based payment awards |
203.4 |
|
|
— |
|
|
— |
|
|
— |
|
|
203.4 |
|
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 |
|
|