Condensed Consolidating Financial Information (Tables)
|
9 Months Ended |
Nov. 30, 2018 |
|---|
| Condensed Financial Information Disclosure [Abstract] |
|
| Condensed Consolidating Balance Sheet |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Balance Sheet at November 30, 2018 |
Current assets: |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
$ |
5.4 |
|
|
$ |
2.4 |
|
|
$ |
122.8 |
|
|
$ |
— |
|
|
$ |
130.6 |
|
Accounts receivable |
436.5 |
|
|
341.3 |
|
|
59.4 |
|
|
— |
|
|
837.2 |
|
Inventories |
198.1 |
|
|
1,590.6 |
|
|
577.9 |
|
|
(168.6 |
) |
|
2,198.0 |
|
Intercompany receivable |
29,127.3 |
|
|
40,158.9 |
|
|
19,860.0 |
|
|
(89,146.2 |
) |
|
— |
|
Prepaid expenses and other |
180.1 |
|
|
55.7 |
|
|
355.1 |
|
|
(118.2 |
) |
|
472.7 |
|
Total current assets |
29,947.4 |
|
|
42,148.9 |
|
|
20,975.2 |
|
|
(89,433.0 |
) |
|
3,638.5 |
|
Property, plant and equipment |
80.7 |
|
|
778.8 |
|
|
4,126.8 |
|
|
— |
|
|
4,986.3 |
|
Investments in subsidiaries |
29,562.7 |
|
|
514.5 |
|
|
6,337.2 |
|
|
(36,414.4 |
) |
|
— |
|
Goodwill |
— |
|
|
6,185.5 |
|
|
1,876.3 |
|
|
— |
|
|
8,061.8 |
|
Intangible assets |
— |
|
|
714.3 |
|
|
2,593.5 |
|
|
— |
|
|
3,307.8 |
|
Intercompany notes receivable |
5,590.5 |
|
|
2,318.8 |
|
|
— |
|
|
(7,909.3 |
) |
|
— |
|
Equity method investments |
17.2 |
|
|
1.8 |
|
|
3,564.0 |
|
|
— |
|
|
3,583.0 |
|
Other assets |
39.1 |
|
|
1.9 |
|
|
4,294.7 |
|
|
(22.7 |
) |
|
4,313.0 |
|
Total assets |
$ |
65,237.6 |
|
|
$ |
52,664.5 |
|
|
$ |
43,767.7 |
|
|
$ |
(133,779.4 |
) |
|
$ |
27,890.4 |
|
|
|
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
|
Short-term borrowings |
$ |
626.5 |
|
|
$ |
— |
|
|
$ |
105.0 |
|
|
$ |
— |
|
|
$ |
731.5 |
|
Current maturities of long-term debt |
1,052.0 |
|
|
13.4 |
|
|
0.2 |
|
|
— |
|
|
1,065.6 |
|
Accounts payable |
60.6 |
|
|
402.3 |
|
|
419.8 |
|
|
— |
|
|
882.7 |
|
Intercompany payable |
40,102.2 |
|
|
31,342.1 |
|
|
17,701.9 |
|
|
(89,146.2 |
) |
|
— |
|
Other accrued expenses and liabilities |
352.5 |
|
|
313.2 |
|
|
159.5 |
|
|
(141.6 |
) |
|
683.6 |
|
Total current liabilities |
42,193.8 |
|
|
32,071.0 |
|
|
18,386.4 |
|
|
(89,287.8 |
) |
|
3,363.4 |
|
Long-term debt, less current maturities |
11,754.0 |
|
|
18.0 |
|
|
0.5 |
|
|
— |
|
|
11,772.5 |
|
Intercompany notes payable |
— |
|
|
4,987.0 |
|
|
2,922.3 |
|
|
(7,909.3 |
) |
|
— |
|
Other liabilities |
33.1 |
|
|
543.0 |
|
|
681.1 |
|
|
(22.7 |
) |
|
1,234.5 |
|
Total liabilities |
53,980.9 |
|
|
37,619.0 |
|
|
21,990.3 |
|
|
(97,219.8 |
) |
|
16,370.4 |
|
CBI stockholders’ equity |
11,256.7 |
|
|
15,045.5 |
|
|
21,514.1 |
|
|
(36,559.6 |
) |
|
11,256.7 |
|
Noncontrolling interests |
— |
|
|
— |
|
|
263.3 |
|
|
— |
|
|
263.3 |
|
Total stockholders’ equity |
11,256.7 |
|
|
15,045.5 |
|
|
21,777.4 |
|
|
(36,559.6 |
) |
|
11,520.0 |
|
Total liabilities and stockholders’ equity |
$ |
65,237.6 |
|
|
$ |
52,664.5 |
|
|
$ |
43,767.7 |
|
|
$ |
(133,779.4 |
) |
|
$ |
27,890.4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
20,948.7 |
|
|
442.0 |
|
|
5,876.9 |
|
|
(27,267.6 |
) |
|
— |
|
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 |
) |
|
— |
|
Equity method investments |
— |
|
|
1.9 |
|
|
119.6 |
|
|
— |
|
|
121.5 |
|
Other assets |
33.1 |
|
|
2.8 |
|
|
747.1 |
|
|
(17.4 |
) |
|
765.6 |
|
Total assets |
$ |
55,303.7 |
|
|
$ |
50,131.2 |
|
|
$ |
35,806.9 |
|
|
$ |
(120,703.1 |
) |
|
$ |
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 |
356.2 |
|
|
199.3 |
|
|
150.5 |
|
|
(27.7 |
) |
|
678.3 |
|
Total current liabilities |
38,101.8 |
|
|
30,372.3 |
|
|
18,151.5 |
|
|
(84,586.0 |
) |
|
2,039.6 |
|
Long-term debt, less current maturities |
9,166.9 |
|
|
9.1 |
|
|
241.6 |
|
|
— |
|
|
9,417.6 |
|
Intercompany notes payable |
— |
|
|
5,029.2 |
|
|
3,642.6 |
|
|
(8,671.8 |
) |
|
— |
|
Other liabilities |
59.9 |
|
|
493.5 |
|
|
553.8 |
|
|
(17.4 |
) |
|
1,089.8 |
|
Total liabilities |
47,328.6 |
|
|
35,904.1 |
|
|
22,589.5 |
|
|
(93,275.2 |
) |
|
12,547.0 |
|
CBI stockholders’ equity |
7,975.1 |
|
|
14,227.1 |
|
|
13,200.8 |
|
|
(27,427.9 |
) |
|
7,975.1 |
|
Noncontrolling interests |
— |
|
|
— |
|
|
16.6 |
|
|
— |
|
|
16.6 |
|
Total stockholders’ equity |
7,975.1 |
|
|
14,227.1 |
|
|
13,217.4 |
|
|
(27,427.9 |
) |
|
7,991.7 |
|
Total liabilities and stockholders’ equity |
$ |
55,303.7 |
|
|
$ |
50,131.2 |
|
|
$ |
35,806.9 |
|
|
$ |
(120,703.1 |
) |
|
$ |
20,538.7 |
|
|
| 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, 2018 |
Sales |
$ |
2,263.2 |
|
|
$ |
5,757.6 |
|
|
$ |
2,891.6 |
|
|
$ |
(3,996.1 |
) |
|
$ |
6,916.3 |
|
Excise taxes |
(269.5 |
) |
|
(318.5 |
) |
|
(9.5 |
) |
|
— |
|
|
(597.5 |
) |
Net sales |
1,993.7 |
|
|
5,439.1 |
|
|
2,882.1 |
|
|
(3,996.1 |
) |
|
6,318.8 |
|
Cost of product sold |
(1,565.2 |
) |
|
(4,062.8 |
) |
|
(1,505.6 |
) |
|
4,001.6 |
|
|
(3,132.0 |
) |
Gross profit |
428.5 |
|
|
1,376.3 |
|
|
1,376.5 |
|
|
5.5 |
|
|
3,186.8 |
|
Selling, general and administrative expenses |
(425.5 |
) |
|
(651.5 |
) |
|
(180.0 |
) |
|
17.1 |
|
|
(1,239.9 |
) |
Operating income |
3.0 |
|
|
724.8 |
|
|
1,196.5 |
|
|
22.6 |
|
|
1,946.9 |
|
Equity in earnings (losses) of equity method investees and subsidiaries |
2,519.4 |
|
|
(25.3 |
) |
|
494.4 |
|
|
(2,956.6 |
) |
|
31.9 |
|
Unrealized net gain on securities measured at fair value |
— |
|
|
— |
|
|
786.5 |
|
|
— |
|
|
786.5 |
|
Net gain on sale of unconsolidated investment |
— |
|
|
— |
|
|
99.8 |
|
|
— |
|
|
99.8 |
|
Interest income |
0.6 |
|
|
— |
|
|
7.3 |
|
|
— |
|
|
7.9 |
|
Intercompany interest income |
198.4 |
|
|
487.2 |
|
|
3.7 |
|
|
(689.3 |
) |
|
— |
|
Interest expense |
(240.2 |
) |
|
(0.9 |
) |
|
(15.4 |
) |
|
— |
|
|
(256.5 |
) |
Intercompany interest expense |
(411.5 |
) |
|
(148.2 |
) |
|
(129.6 |
) |
|
689.3 |
|
|
— |
|
Loss on extinguishment of debt |
(1.7 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(1.7 |
) |
Income before income taxes |
2,068.0 |
|
|
1,037.6 |
|
|
2,443.2 |
|
|
(2,934.0 |
) |
|
2,614.8 |
|
(Provision for) benefit from income taxes |
128.4 |
|
|
(248.4 |
) |
|
(284.0 |
) |
|
(1.1 |
) |
|
(405.1 |
) |
Net income |
2,196.4 |
|
|
789.2 |
|
|
2,159.2 |
|
|
(2,935.1 |
) |
|
2,209.7 |
|
Net income attributable to noncontrolling interests |
— |
|
|
— |
|
|
(13.3 |
) |
|
— |
|
|
(13.3 |
) |
Net income attributable to CBI |
$ |
2,196.4 |
|
|
$ |
789.2 |
|
|
$ |
2,145.9 |
|
|
$ |
(2,935.1 |
) |
|
$ |
2,196.4 |
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income attributable to CBI |
$ |
1,893.4 |
|
|
$ |
788.6 |
|
|
$ |
1,843.1 |
|
|
$ |
(2,631.7 |
) |
|
$ |
1,893.4 |
|
|
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Comprehensive Income for the Nine Months Ended November 30, 2017 |
Sales |
$ |
2,171.4 |
|
|
$ |
5,279.6 |
|
|
$ |
2,638.1 |
|
|
$ |
(3,698.5 |
) |
|
$ |
6,390.6 |
|
Excise taxes |
(263.2 |
) |
|
(299.7 |
) |
|
(9.4 |
) |
|
— |
|
|
(572.3 |
) |
Net sales |
1,908.2 |
|
|
4,979.9 |
|
|
2,628.7 |
|
|
(3,698.5 |
) |
|
5,818.3 |
|
Cost of product sold |
(1,524.4 |
) |
|
(3,686.0 |
) |
|
(1,350.6 |
) |
|
3,710.0 |
|
|
(2,851.0 |
) |
Gross profit |
383.8 |
|
|
1,293.9 |
|
|
1,278.1 |
|
|
11.5 |
|
|
2,967.3 |
|
Selling, general and administrative expenses |
(347.1 |
) |
|
(661.0 |
) |
|
(202.1 |
) |
|
10.9 |
|
|
(1,199.3 |
) |
Operating income |
36.7 |
|
|
632.9 |
|
|
1,076.0 |
|
|
22.4 |
|
|
1,768.0 |
|
Equity in earnings (losses) of equity method investees and subsidiaries |
1,524.8 |
|
|
(14.6 |
) |
|
366.6 |
|
|
(1,844.0 |
) |
|
32.8 |
|
Unrealized net gain on securities measured at fair value and related activities |
— |
|
|
— |
|
|
216.9 |
|
|
— |
|
|
216.9 |
|
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 extinguishment of debt |
(7.0 |
) |
|
— |
|
|
(12.1 |
) |
|
— |
|
|
(19.1 |
) |
Income before income taxes |
1,240.0 |
|
|
835.4 |
|
|
1,499.7 |
|
|
(1,821.6 |
) |
|
1,753.5 |
|
(Provision for) benefit from income taxes |
152.9 |
|
|
(292.0 |
) |
|
(188.1 |
) |
|
(24.8 |
) |
|
(352.0 |
) |
Net income |
1,392.9 |
|
|
543.4 |
|
|
1,311.6 |
|
|
(1,846.4 |
) |
|
1,401.5 |
|
Net income attributable to noncontrolling interests |
— |
|
|
— |
|
|
(8.6 |
) |
|
— |
|
|
(8.6 |
) |
Net income attributable to CBI |
$ |
1,392.9 |
|
|
$ |
543.4 |
|
|
$ |
1,303.0 |
|
|
$ |
(1,846.4 |
) |
|
$ |
1,392.9 |
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income attributable to CBI |
$ |
1,583.7 |
|
|
$ |
543.2 |
|
|
$ |
1,498.0 |
|
|
$ |
(2,041.2 |
) |
|
$ |
1,583.7 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Comprehensive Income for the Three Months Ended November 30, 2018 |
Sales |
$ |
772.0 |
|
|
$ |
1,763.7 |
|
|
$ |
886.9 |
|
|
$ |
(1,262.0 |
) |
|
$ |
2,160.6 |
|
Excise taxes |
(89.8 |
) |
|
(94.9 |
) |
|
(3.3 |
) |
|
— |
|
|
(188.0 |
) |
Net sales |
682.2 |
|
|
1,668.8 |
|
|
883.6 |
|
|
(1,262.0 |
) |
|
1,972.6 |
|
Cost of product sold |
(530.4 |
) |
|
(1,242.6 |
) |
|
(490.5 |
) |
|
1,260.9 |
|
|
(1,002.6 |
) |
Gross profit |
151.8 |
|
|
426.2 |
|
|
393.1 |
|
|
(1.1 |
) |
|
970.0 |
|
Selling, general and administrative expenses |
(153.9 |
) |
|
(199.4 |
) |
|
(65.8 |
) |
|
5.6 |
|
|
(413.5 |
) |
Operating income (loss) |
(2.1 |
) |
|
226.8 |
|
|
327.3 |
|
|
4.5 |
|
|
556.5 |
|
Equity in earnings of equity method investees and subsidiaries |
373.5 |
|
|
0.7 |
|
|
167.7 |
|
|
(512.6 |
) |
|
29.3 |
|
Unrealized net loss on securities measured at fair value |
— |
|
|
— |
|
|
(163.9 |
) |
|
— |
|
|
(163.9 |
) |
Interest income |
0.5 |
|
|
— |
|
|
3.9 |
|
|
— |
|
|
4.4 |
|
Intercompany interest income |
63.1 |
|
|
165.7 |
|
|
1.3 |
|
|
(230.1 |
) |
|
— |
|
Interest expense |
(75.6 |
) |
|
(0.4 |
) |
|
(1.2 |
) |
|
— |
|
|
(77.2 |
) |
Intercompany interest expense |
(140.5 |
) |
|
(49.2 |
) |
|
(40.4 |
) |
|
230.1 |
|
|
— |
|
Loss on extinguishment of debt |
(1.7 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(1.7 |
) |
Income before income taxes |
217.2 |
|
|
343.6 |
|
|
294.7 |
|
|
(508.1 |
) |
|
347.4 |
|
(Provision for) benefit from income taxes |
85.9 |
|
|
(80.5 |
) |
|
(37.6 |
) |
|
(3.1 |
) |
|
(35.3 |
) |
Net income |
303.1 |
|
|
263.1 |
|
|
257.1 |
|
|
(511.2 |
) |
|
312.1 |
|
Net income attributable to noncontrolling interests |
— |
|
|
— |
|
|
(9.0 |
) |
|
— |
|
|
(9.0 |
) |
Net income attributable to CBI |
$ |
303.1 |
|
|
$ |
263.1 |
|
|
$ |
248.1 |
|
|
$ |
(511.2 |
) |
|
$ |
303.1 |
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income attributable to CBI |
$ |
101.8 |
|
|
$ |
263.1 |
|
|
$ |
46.8 |
|
|
$ |
(309.9 |
) |
|
$ |
101.8 |
|
|
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Comprehensive Income for the Three Months Ended November 30, 2017 |
Sales |
$ |
756.3 |
|
|
$ |
1,585.8 |
|
|
$ |
795.6 |
|
|
$ |
(1,156.0 |
) |
|
$ |
1,981.7 |
|
Excise taxes |
(89.2 |
) |
|
(87.1 |
) |
|
(3.5 |
) |
|
— |
|
|
(179.8 |
) |
Net sales |
667.1 |
|
|
1,498.7 |
|
|
792.1 |
|
|
(1,156.0 |
) |
|
1,801.9 |
|
Cost of product sold |
(537.9 |
) |
|
(1,111.3 |
) |
|
(397.4 |
) |
|
1,155.0 |
|
|
(891.6 |
) |
Gross profit |
129.2 |
|
|
387.4 |
|
|
394.7 |
|
|
(1.0 |
) |
|
910.3 |
|
Selling, general and administrative expenses |
(130.8 |
) |
|
(186.9 |
) |
|
(108.1 |
) |
|
5.1 |
|
|
(420.7 |
) |
Operating income (loss) |
(1.6 |
) |
|
200.5 |
|
|
286.6 |
|
|
4.1 |
|
|
489.6 |
|
Equity in earnings of equity method investees and subsidiaries |
551.7 |
|
|
8.8 |
|
|
122.1 |
|
|
(650.4 |
) |
|
32.2 |
|
Unrealized net gain on securities measured at fair value and related activities |
— |
|
|
— |
|
|
216.9 |
|
|
— |
|
|
216.9 |
|
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 extinguishment of debt |
— |
|
|
— |
|
|
(10.3 |
) |
|
— |
|
|
(10.3 |
) |
Income before income taxes |
439.6 |
|
|
285.4 |
|
|
568.3 |
|
|
(646.3 |
) |
|
647.0 |
|
(Provision for) benefit from income taxes |
53.2 |
|
|
(99.0 |
) |
|
(102.8 |
) |
|
(2.0 |
) |
|
(150.6 |
) |
Net income |
492.8 |
|
|
186.4 |
|
|
465.5 |
|
|
(648.3 |
) |
|
496.4 |
|
Net income attributable to noncontrolling interests |
— |
|
|
— |
|
|
(3.6 |
) |
|
— |
|
|
(3.6 |
) |
Net income attributable to CBI |
$ |
492.8 |
|
|
$ |
186.4 |
|
|
$ |
461.9 |
|
|
$ |
(648.3 |
) |
|
$ |
492.8 |
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income attributable to CBI |
$ |
371.2 |
|
|
$ |
188.2 |
|
|
$ |
338.6 |
|
|
$ |
(526.8 |
) |
|
$ |
371.2 |
|
|
| 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, 2018 |
Net cash provided by (used in) operating activities |
$ |
(18.5 |
) |
|
$ |
628.5 |
|
|
$ |
1,363.9 |
|
|
$ |
— |
|
|
$ |
1,973.9 |
|
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
|
Investments in equity method investees and securities |
— |
|
|
(0.1 |
) |
|
(4,077.2 |
) |
|
— |
|
|
(4,077.3 |
) |
Purchases of property, plant and equipment |
(23.4 |
) |
|
(79.4 |
) |
|
(517.5 |
) |
|
— |
|
|
(620.3 |
) |
Purchases of businesses, net of cash acquired |
— |
|
|
(19.5 |
) |
|
(25.8 |
) |
|
— |
|
|
(45.3 |
) |
Proceeds from sale of unconsolidated investment |
— |
|
|
— |
|
|
110.2 |
|
|
— |
|
|
110.2 |
|
Proceeds from sales of assets |
0.5 |
|
|
39.4 |
|
|
6.4 |
|
|
— |
|
|
46.3 |
|
Net proceeds from intercompany notes |
694.0 |
|
|
— |
|
|
— |
|
|
(694.0 |
) |
|
— |
|
Net investment in equity affiliates |
(3,934.9 |
) |
|
(11.1 |
) |
|
— |
|
|
3,946.0 |
|
|
— |
|
Other investing activities |
— |
|
|
— |
|
|
(0.9 |
) |
|
— |
|
|
(0.9 |
) |
Net cash used in investing activities |
(3,263.8 |
) |
|
(70.7 |
) |
|
(4,504.8 |
) |
|
3,252.0 |
|
|
(4,587.3 |
) |
|
|
|
|
|
|
|
|
|
|
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
|
Dividends paid to parent company
|
— |
|
|
— |
|
|
(36.5 |
) |
|
36.5 |
|
|
— |
|
Net contributions from equity affiliates |
— |
|
|
28.8 |
|
|
3,953.7 |
|
|
(3,982.5 |
) |
|
— |
|
Net proceeds from (repayments of) intercompany notes |
206.9 |
|
|
(562.6 |
) |
|
(338.3 |
) |
|
694.0 |
|
|
— |
|
Proceeds from issuance of long-term debt |
3,645.6 |
|
|
— |
|
|
12.0 |
|
|
— |
|
|
3,657.6 |
|
Proceeds from shares issued under equity compensation plans |
32.6 |
|
|
— |
|
|
— |
|
|
— |
|
|
32.6 |
|
Purchases of treasury stock |
(504.3 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(504.3 |
) |
Dividends paid |
(417.9 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(417.9 |
) |
Principal payments of long-term debt |
(6.2 |
) |
|
(13.2 |
) |
|
(25.9 |
) |
|
— |
|
|
(45.3 |
) |
Payments of debt issuance costs |
(33.3 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(33.3 |
) |
Net proceeds from (repayments of) short-term borrowings |
359.7 |
|
|
— |
|
|
(374.2 |
) |
|
— |
|
|
(14.5 |
) |
Payments of minimum tax withholdings on stock-based payment awards |
— |
|
|
(12.8 |
) |
|
(0.8 |
) |
|
— |
|
|
(13.6 |
) |
Net cash provided by (used in) financing activities |
3,283.1 |
|
|
(559.8 |
) |
|
3,190.0 |
|
|
(3,252.0 |
) |
|
2,661.3 |
|
|
|
|
|
|
|
|
|
|
|
Effect of exchange rate changes on cash and cash equivalents |
— |
|
|
— |
|
|
(7.6 |
) |
|
— |
|
|
(7.6 |
) |
|
|
|
|
|
|
|
|
|
|
Net increase (decrease) in cash and cash equivalents |
0.8 |
|
|
(2.0 |
) |
|
41.5 |
|
|
— |
|
|
40.3 |
|
Cash and cash equivalents, beginning of period |
4.6 |
|
|
4.4 |
|
|
81.3 |
|
|
— |
|
|
90.3 |
|
Cash and cash equivalents, end of period |
$ |
5.4 |
|
|
$ |
2.4 |
|
|
$ |
122.8 |
|
|
$ |
— |
|
|
$ |
130.6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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: |
|
|
|
|
|
|
|
|
|
Investment in securities |
— |
|
|
— |
|
|
(191.3 |
) |
|
— |
|
|
(191.3 |
) |
Purchases of property, plant and equipment |
(15.4 |
) |
|
(83.9 |
) |
|
(606.3 |
) |
|
— |
|
|
(705.6 |
) |
Purchases of businesses, net of cash acquired |
— |
|
|
(70.9 |
) |
|
(61.0 |
) |
|
— |
|
|
(131.9 |
) |
Proceeds from sales of assets |
— |
|
|
— |
|
|
1.2 |
|
|
— |
|
|
1.2 |
|
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 |
) |
|
— |
|
|
(4.5 |
) |
|
— |
|
|
(10.7 |
) |
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 |
|
|
— |
|
Proceeds from issuance of long-term debt |
3,990.4 |
|
|
— |
|
|
2,027.5 |
|
|
— |
|
|
6,017.9 |
|
Proceeds from shares issued under equity compensation plans |
37.5 |
|
|
— |
|
|
— |
|
|
— |
|
|
37.5 |
|
Purchases of treasury stock |
(239.2 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(239.2 |
) |
Dividends paid |
(301.1 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(301.1 |
) |
Principal payments of long-term debt |
(2,116.6 |
) |
|
(14.5 |
) |
|
(4,391.7 |
) |
|
— |
|
|
(6,522.8 |
) |
Payments of debt issuance costs |
(28.9 |
) |
|
— |
|
|
(3.5 |
) |
|
— |
|
|
(32.4 |
) |
Net proceeds from short-term borrowings |
238.6 |
|
|
— |
|
|
366.3 |
|
|
— |
|
|
604.9 |
|
Payments of minimum tax withholdings on stock-based payment awards |
— |
|
|
(21.9 |
) |
|
(1.0 |
) |
|
— |
|
|
(22.9 |
) |
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 |
|
|