Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows (USD $)
In Millions, unless otherwise specified
 12 Months Ended
Feb. 28, 2013
Feb. 29, 2012
Feb. 28, 2011
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 387.8 $ 445.0 $ 559.5
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation of property, plant and equipment 108.2 98.4 119.2
Stock-based compensation expense 40.8 47.6 46.0
Deferred tax provision 39.2 48.0 70.9
Loss on write-off of financing costs 12.5 0 0
Equity in earnings of equity method investees, net of distributed earnings 7.6 2.6 (23.8)
Amortization of intangible assets 7.2 5.4 5.5
Amortization of deferred financing costs 4.8 6.5 9.1
Loss on disposal or impairment of long-lived assets, net 0.4 0.3 0.4
Gain on business sold, net (7.1) (2.1) (165.1)
Impairment of intangible assets 0 38.1 23.6
(Gain) loss on obligation from put option of Ruffino shareholder 0 (2.5) 60.0
Loss on settlement of pension obligations 0 0 109.9
Change in operating assets and liabilities, net of effects from purchases and sales of businesses:      
Accounts receivable, net (38.9) (5.6) (86.0)
Inventories (90.0) 51.5 190.8
Prepaid expenses and other current assets (9.6) 6.5 (7.6)
Accounts payable 76.9 (6.0) (82.5)
Accrued excise taxes (5.8) 10.6 (7.1)
Other accrued expenses and liabilities (0.3) 44.6 (168.2)
Other, net 22.6 (4.8) (34.9)
Total adjustments 168.5 339.1 60.2
Net cash provided by operating activities 556.3 784.1 619.7
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchase of business, net of cash acquired (159.3) (51.5) 0
Purchases of property, plant and equipment (62.1) (68.4) (89.1)
(Payments related to) proceeds from sale of business, net of cash divested (0.6) (30.8) 219.7
Investments in equity method investees (0.1) (0.1) (29.7)
Proceeds from sales of assets 10.0 3.6 19.5
Proceeds from notes receivable 4.6 1.0 60.0
Proceeds from redemption of available-for-sale debt securities 0 20.2 0
Other investing activities 0.7 (9.1) 7.7
Net cash (used in) provided by investing activities (206.8) (135.1) 188.1
CASH FLOWS FROM FINANCING ACTIVITIES:      
Principal payments of long-term debt (1,537.2) (475.9) (328.5)
Purchases of treasury stock (383.0) (413.7) (300.0)
Net (repayment of) proceeds from notes payable (372.6) 249.8 (289.7)
Payment of financing costs of long-term debt (35.8) 0 (0.2)
Payment of minimum tax withholdings on stock-based payment awards (0.5) (2.2) (0.4)
Proceeds from issuance of long-term debt 2,050.0 0 0
Proceeds from exercises of employee stock options 158.3 51.3 61.0
Excess tax benefits from stock-based payment awards 17.7 10.9 7.4
Proceeds from employee stock purchases 4.4 4.7 4.3
Net cash used in financing activities (98.7) (575.1) (846.1)
Effect of exchange rate changes on cash and cash investments (5.1) 2.7 4.0
NET INCREASE (DECREASE) IN CASH AND CASH INVESTMENTS 245.7 76.6 (34.3)
CASH AND CASH INVESTMENTS, beginning of year 85.8 9.2 43.5
CASH AND CASH INVESTMENTS, end of year 331.5 85.8 9.2
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:      
Interest 197.0 173.3 203.3
Income taxes 149.6 62.9 88.2
Purchase of business      
Fair value of assets acquired, including cash acquired     0
Liabilities assumed     0
Net assets acquired     0
Plus – settlement of obligation from put option of shareholder     0
Less – fair value of previously owned 49.9% equity interest     0
Less – cash acquired     0
Net cash paid for purchase of business 159.3 51.5 0
Property, plant and equipment acquired under financing arrangements 34.8 27.8 28.4
Sale of business      
Investment in Accolade 0 0 48.2
Indemnification liabilities $ 0 $ 0 $ 26.1