Quarterly report pursuant to Section 13 or 15(d)

Accounting Guidance (Tables)

v3.8.0.1
Accounting Guidance (Tables)
 3 Months Ended
May 31, 2018
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]  
Effect of retrospective application method on consolidated financial statements
The effects of the retrospective application method on our consolidated financial statements for the periods presented in this report were as follows:
 
As
Previously
Reported
 
Revenue
Recognition
Adjustments
 
As
Adjusted
(in millions, except per share data)
 
 
 
 
 
Consolidated Balance Sheet at February 28, 2018
 
 
 
 
 
Other accrued expenses and liabilities
$
583.4

 
$
94.9

 
$
678.3

Total current liabilities
$
1,944.7

 
$
94.9

 
$
2,039.6

Other liabilities (including deferred income taxes – as previously reported, $718.3 million; as adjusted, $694.4 million)
$
1,113.7

 
$
(23.9
)
 
$
1,089.8

Total liabilities
$
12,476.0

 
$
71.0

 
$
12,547.0

Retained earnings
$
9,228.2

 
$
(71.0
)
 
$
9,157.2

Total stockholders’ equity
$
8,062.7

 
$
(71.0
)
 
$
7,991.7

 
 
 
 
 
 
 
As
Previously
Reported
 
Revenue
Recognition
Adjustments
 
As
Adjusted
(in millions, except per share data)
 
 
 
 
 
Consolidated Statement of Comprehensive Income for the Three Months Ended May 31, 2017
Sales
$
2,115.3

 
$
(7.0
)
 
$
2,108.3

Net sales
$
1,935.5

 
$
(7.0
)
 
$
1,928.5

Gross profit
$
995.3

 
$
(7.0
)
 
$
988.3

Operating income
$
568.1

 
$
(7.0
)
 
$
561.1

Income before income taxes
$
479.4

 
$
(7.0
)
 
$
472.4

Provision for income taxes
$
(74.1
)
 
$
2.7

 
$
(71.4
)
Net income
$
405.3

 
$
(4.3
)
 
$
401.0

Net income attributable to CBI
$
402.8

 
$
(4.3
)
 
$
398.5

Comprehensive income attributable to CBI
$
590.3

 
$
(4.3
)
 
$
586.0

 
 
 
 
 
 
Net income per common share attributable to CBI:
 
 
 
 
 
Basic – Class A Common Stock
$
2.09

 
$
(0.02
)
 
$
2.07

Basic – Class B Convertible Common Stock
$
1.90

 
$
(0.02
)
 
$
1.88

 
 
 
 
 
 
Diluted – Class A Common Stock
$
2.00

 
$
(0.02
)
 
$
1.98

Diluted – Class B Convertible Common Stock
$
1.85

 
$
(0.02
)
 
$
1.83