Quarterly report pursuant to Section 13 or 15(d)

Business Segment Information (Tables)

v3.8.0.1
Business Segment Information (Tables)
 3 Months Ended
May 31, 2018
Segment Reporting [Abstract]  
Comparable adjustments
Comparable Adjustments that impacted comparability in our segment operating income (loss) for each period are as follows:
 
For the Three Months Ended May 31,
 
2018
 
2017
(in millions)
 
 
 
Cost of product sold
 
 
 
Net gain (loss) on undesignated commodity derivative contracts
$
15.4

 
$
(3.1
)
Accelerated depreciation
(3.4
)
 
—

Settlements of undesignated commodity derivative contracts
(1.5
)
 
2.4

Loss on inventory write-down
(1.5
)
 
—

Flow through of inventory step-up
(0.6
)
 
(7.0
)
Total cost of product sold
8.4

 
(7.7
)
 
 
 
 
Selling, general and administrative expenses
 
 
 
Deferred compensation
(16.3
)
 
—

Restructuring and other strategic business development costs
(4.3
)
 
(1.4
)
Impairment of intangible assets
—

 
(86.8
)
Costs associated with the sale of the Canadian wine business and related activities
—

 
(3.2
)
Transaction, integration and other acquisition-related costs
—

 
(1.6
)
Total selling, general and administrative expenses
(20.6
)

(93.0
)
Comparable Adjustments, Operating loss
$
(12.2
)
 
$
(100.7
)
Segment information
Segment information is as follows:
 
For the Three Months Ended May 31,
 
2018
 
2017
(in millions)
 
 
 
Beer
 
 
 
Net sales
$
1,375.1

 
$
1,239.2

Segment operating income
$
520.0

 
$
497.5

Long-lived tangible assets
$
3,665.2

 
$
3,081.1

Total assets
$
14,674.7

 
$
11,679.1

Capital expenditures
$
136.5

 
$
191.2

Depreciation and amortization
$
49.5

 
$
39.8

 
 
 
 
 
For the Three Months Ended May 31,
 
2018
 
2017
(in millions)
 
 
 
Wine and Spirits
 
 
 
Net sales:
 
 
 
Wine
$
591.8

 
$
602.1

Spirits
80.2

 
87.2

Net sales
$
672.0

 
$
689.3

Segment operating income
$
167.8

 
$
201.7

Income from unconsolidated investments
$
4.8

 
$
0.2

Long-lived tangible assets
$
1,065.5

 
$
982.2

Investments in equity method investees
$
85.0

 
$
77.3

Total assets
$
7,093.1

 
$
6,888.3

Capital expenditures
$
27.8

 
$
21.6

Depreciation and amortization
$
24.4

 
$
22.6

 
 
 
 
Corporate Operations and Other
 
 
 
Segment operating loss
$
(50.2
)
 
$
(37.4
)
Income (loss) from unconsolidated investments
$
(0.1
)
 
$
0.2

Long-lived tangible assets
$
85.1

 
$
123.6

Investments in equity method investees
$
42.2

 
$
21.3

Total assets
$
1,328.9

 
$
392.0

Capital expenditures
$
3.9

 
$
4.3

Depreciation and amortization
$
8.4

 
$
9.1

 
 
 
 
Comparable Adjustments
 
 
 
Operating loss
$
(12.2
)
 
$
(100.7
)
Income from unconsolidated investments
$
359.7

 
$
—

Depreciation and amortization
$
3.4

 
$
—

 
 
 
 
Consolidated
 
 
 
Net sales
$
2,047.1

 
$
1,928.5

Operating income
$
625.4

 
$
561.1

Income from unconsolidated investments (1)
$
364.4

 
$
0.4

Long-lived tangible assets
$
4,815.8

 
$
4,186.9

Investments in equity method investees
$
127.2

 
$
98.6

Total assets
$
23,096.7

 
$
18,959.4

Capital expenditures
$
168.2

 
$
217.1

Depreciation and amortization
$
85.7

 
$
71.5


(1)    Income from unconsolidated investments consists of:
 
For the Three Months Ended
 
May 31,
2018
 
May 31,
2017
(in millions)
 
 
 
Unrealized gain on equity securities
$
258.3

 
$
—

Net gain on sale of unconsolidated investment
101.4

 
—

Equity in earnings from equity method investees
4.7

 
0.4

 
$
364.4

 
$
0.4