Condensed Consolidating Financial Information (Tables)
|
12 Months Ended |
Feb. 28, 2019 |
|---|
| Condensed Financial Information Disclosure [Abstract] |
|
| Condensed Consolidating Balance Sheet |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Balance Sheet at February 28, 2019 |
Current assets: |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
$ |
11.0 |
|
|
$ |
2.6 |
|
|
$ |
80.0 |
|
|
$ |
— |
|
|
$ |
93.6 |
|
Accounts receivable |
435.6 |
|
|
370.6 |
|
|
40.7 |
|
|
— |
|
|
846.9 |
|
Inventories |
197.7 |
|
|
1,485.4 |
|
|
609.9 |
|
|
(162.6 |
) |
|
2,130.4 |
|
Intercompany receivable |
29,712.5 |
|
|
33,775.4 |
|
|
20,050.6 |
|
|
(83,538.5 |
) |
|
— |
|
Prepaid expenses and other |
89.9 |
|
|
78.1 |
|
|
446.7 |
|
|
(1.6 |
) |
|
613.1 |
|
Total current assets |
30,446.7 |
|
|
35,712.1 |
|
|
21,227.9 |
|
|
(83,702.7 |
) |
|
3,684.0 |
|
Property, plant and equipment |
85.3 |
|
|
786.8 |
|
|
4,395.2 |
|
|
— |
|
|
5,267.3 |
|
Investments in subsidiaries |
26,533.8 |
|
|
1,599.6 |
|
|
2,982.1 |
|
|
(31,115.5 |
) |
|
— |
|
Goodwill |
— |
|
|
6,185.5 |
|
|
1,903.3 |
|
|
— |
|
|
8,088.8 |
|
Intangible assets |
— |
|
|
605.0 |
|
|
2,593.1 |
|
|
— |
|
|
3,198.1 |
|
Intercompany notes receivable |
3,218.6 |
|
|
— |
|
|
38.6 |
|
|
(3,257.2 |
) |
|
— |
|
Equity method investments |
— |
|
|
1.7 |
|
|
3,463.9 |
|
|
— |
|
|
3,465.6 |
|
Securities measured as fair value |
— |
|
|
— |
|
|
3,234.7 |
|
|
— |
|
|
3,234.7 |
|
Deferred income taxes |
69.2 |
|
|
— |
|
|
2,183.3 |
|
|
(69.2 |
) |
|
2,183.3 |
|
Other assets |
17.3 |
|
|
1.1 |
|
|
91.3 |
|
|
— |
|
|
109.7 |
|
Total assets |
$ |
60,370.9 |
|
|
$ |
44,891.8 |
|
|
$ |
42,113.4 |
|
|
$ |
(118,144.6 |
) |
|
$ |
29,231.5 |
|
|
|
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
|
Short-term borrowings |
$ |
732.5 |
|
|
$ |
— |
|
|
$ |
59.0 |
|
|
$ |
— |
|
|
$ |
791.5 |
|
Current maturities of long-term debt |
1,052.8 |
|
|
12.2 |
|
|
0.2 |
|
|
— |
|
|
1,065.2 |
|
Accounts payable |
59.6 |
|
|
141.3 |
|
|
415.8 |
|
|
— |
|
|
616.7 |
|
Intercompany payable |
33,787.6 |
|
|
31,428.9 |
|
|
18,322.0 |
|
|
(83,538.5 |
) |
|
— |
|
Other accrued expenses and liabilities |
374.3 |
|
|
184.0 |
|
|
156.6 |
|
|
(24.5 |
) |
|
690.4 |
|
Total current liabilities |
36,006.8 |
|
|
31,766.4 |
|
|
18,953.6 |
|
|
(83,563.0 |
) |
|
3,163.8 |
|
Long-term debt, less current maturities |
11,743.4 |
|
|
16.0 |
|
|
0.4 |
|
|
— |
|
|
11,759.8 |
|
Intercompany notes payable |
38.5 |
|
|
2,694.4 |
|
|
524.3 |
|
|
(3,257.2 |
) |
|
— |
|
Deferred income taxes and other liabilities |
31.2 |
|
|
540.5 |
|
|
955.9 |
|
|
(56.9 |
) |
|
1,470.7 |
|
Total liabilities |
47,819.9 |
|
|
35,017.3 |
|
|
20,434.2 |
|
|
(86,877.1 |
) |
|
16,394.3 |
|
CBI stockholders’ equity |
12,551.0 |
|
|
9,874.5 |
|
|
21,393.0 |
|
|
(31,267.5 |
) |
|
12,551.0 |
|
Noncontrolling interests |
— |
|
|
— |
|
|
286.2 |
|
|
— |
|
|
286.2 |
|
Total stockholders’ equity |
12,551.0 |
|
|
9,874.5 |
|
|
21,679.2 |
|
|
(31,267.5 |
) |
|
12,837.2 |
|
Total liabilities and stockholders’ equity |
$ |
60,370.9 |
|
|
$ |
44,891.8 |
|
|
$ |
42,113.4 |
|
|
$ |
(118,144.6 |
) |
|
$ |
29,231.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
|
Securities measured at fair value |
— |
|
|
— |
|
|
672.2 |
|
|
— |
|
|
672.2 |
|
Deferred income taxes |
17.4 |
|
|
— |
|
|
— |
|
|
(17.4 |
) |
|
— |
|
Other assets |
15.7 |
|
|
2.8 |
|
|
74.9 |
|
|
— |
|
|
93.4 |
|
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 |
) |
|
— |
|
Deferred income taxes and 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 Year Ended February 28, 2019 |
Sales |
$ |
2,996.9 |
|
|
$ |
7,323.1 |
|
|
$ |
3,905.8 |
|
|
$ |
(5,341.5 |
) |
|
$ |
8,884.3 |
|
Excise taxes |
(359.3 |
) |
|
(396.2 |
) |
|
(12.8 |
) |
|
— |
|
|
(768.3 |
) |
Net sales |
2,637.6 |
|
|
6,926.9 |
|
|
3,893.0 |
|
|
(5,341.5 |
) |
|
8,116.0 |
|
Cost of product sold |
(2,060.3 |
) |
|
(5,399.8 |
) |
|
(1,924.2 |
) |
|
5,348.6 |
|
|
(4,035.7 |
) |
Gross profit |
577.3 |
|
|
1,527.1 |
|
|
1,968.8 |
|
|
7.1 |
|
|
4,080.3 |
|
Selling, general and administrative expenses |
(548.1 |
) |
|
(908.7 |
) |
|
(233.6 |
) |
|
22.3 |
|
|
(1,668.1 |
) |
Operating income |
29.2 |
|
|
618.4 |
|
|
1,735.2 |
|
|
29.4 |
|
|
2,412.2 |
|
Equity in earnings (losses) of equity method investees and subsidiaries and related activities |
3,889.6 |
|
|
(39.4 |
) |
|
482.9 |
|
|
(4,302.5 |
) |
|
30.6 |
|
Unrealized net gain on securities measured at fair value |
— |
|
|
— |
|
|
1,971.2 |
|
|
— |
|
|
1,971.2 |
|
Net gain on sale of unconsolidated investment |
— |
|
|
— |
|
|
99.8 |
|
|
— |
|
|
99.8 |
|
Interest income |
0.6 |
|
|
— |
|
|
11.4 |
|
|
— |
|
|
12.0 |
|
Intercompany interest income |
259.7 |
|
|
647.1 |
|
|
6.3 |
|
|
(913.1 |
) |
|
— |
|
Interest expense |
(361.7 |
) |
|
(1.0 |
) |
|
(16.4 |
) |
|
— |
|
|
(379.1 |
) |
Intercompany interest expense |
(547.1 |
) |
|
(196.3 |
) |
|
(169.7 |
) |
|
913.1 |
|
|
— |
|
Loss on extinguishment of debt |
(1.7 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(1.7 |
) |
Income before income taxes |
3,268.6 |
|
|
1,028.8 |
|
|
4,120.7 |
|
|
(4,273.1 |
) |
|
4,145.0 |
|
(Provision for) benefit from income taxes |
167.3 |
|
|
(250.2 |
) |
|
(598.1 |
) |
|
(4.9 |
) |
|
(685.9 |
) |
Net income |
3,435.9 |
|
|
778.6 |
|
|
3,522.6 |
|
|
(4,278.0 |
) |
|
3,459.1 |
|
Net income attributable to noncontrolling interests |
— |
|
|
— |
|
|
(23.2 |
) |
|
— |
|
|
(23.2 |
) |
Net income attributable to CBI |
$ |
3,435.9 |
|
|
$ |
778.6 |
|
|
$ |
3,499.4 |
|
|
$ |
(4,278.0 |
) |
|
$ |
3,435.9 |
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income attributable to CBI |
$ |
3,284.9 |
|
|
$ |
777.7 |
|
|
$ |
3,358.4 |
|
|
$ |
(4,136.1 |
) |
|
$ |
3,284.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Comprehensive Income for the Year Ended February 28, 2018 |
Sales |
$ |
2,953.5 |
|
|
$ |
6,822.8 |
|
|
$ |
3,499.6 |
|
|
$ |
(4,953.8 |
) |
|
$ |
8,322.1 |
|
Excise taxes |
(353.5 |
) |
|
(375.6 |
) |
|
(12.7 |
) |
|
— |
|
|
(741.8 |
) |
Net sales |
2,600.0 |
|
|
6,447.2 |
|
|
3,486.9 |
|
|
(4,953.8 |
) |
|
7,580.3 |
|
Cost of product sold |
(2,080.3 |
) |
|
(4,809.5 |
) |
|
(1,795.7 |
) |
|
4,917.7 |
|
|
(3,767.8 |
) |
Gross profit |
519.7 |
|
|
1,637.7 |
|
|
1,691.2 |
|
|
(36.1 |
) |
|
3,812.5 |
|
Selling, general and administrative expenses |
(468.8 |
) |
|
(820.0 |
) |
|
(259.9 |
) |
|
16.0 |
|
|
(1,532.7 |
) |
Operating income |
50.9 |
|
|
817.7 |
|
|
1,431.3 |
|
|
(20.1 |
) |
|
2,279.8 |
|
Equity in earnings (losses) of equity method investees and subsidiaries and related activities |
2,515.1 |
|
|
(13.9 |
) |
|
547.8 |
|
|
(3,014.4 |
) |
|
34.6 |
|
Unrealized net gain on securities measured at fair value 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 |
2,051.1 |
|
|
1,098.2 |
|
|
2,223.2 |
|
|
(3,034.5 |
) |
|
2,338.0 |
|
(Provision for) benefit from income taxes |
252.3 |
|
|
(74.2 |
) |
|
(180.9 |
) |
|
(19.9 |
) |
|
(22.7 |
) |
Net income |
2,303.4 |
|
|
1,024.0 |
|
|
2,042.3 |
|
|
(3,054.4 |
) |
|
2,315.3 |
|
Net income attributable to noncontrolling interests |
— |
|
|
— |
|
|
(11.9 |
) |
|
— |
|
|
(11.9 |
) |
Net income attributable to CBI |
$ |
2,303.4 |
|
|
$ |
1,024.0 |
|
|
$ |
2,030.4 |
|
|
$ |
(3,054.4 |
) |
|
$ |
2,303.4 |
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income attributable to CBI |
$ |
2,500.3 |
|
|
$ |
1,024.4 |
|
|
$ |
2,232.4 |
|
|
$ |
(3,256.8 |
) |
|
$ |
2,500.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Comprehensive Income for the Year Ended February 28, 2017 |
Sales |
$ |
2,824.2 |
|
|
$ |
6,252.4 |
|
|
$ |
3,535.1 |
|
|
$ |
(4,560.5 |
) |
|
$ |
8,051.2 |
|
Excise taxes |
(351.9 |
) |
|
(320.8 |
) |
|
(57.4 |
) |
|
— |
|
|
(730.1 |
) |
Net sales |
2,472.3 |
|
|
5,931.6 |
|
|
3,477.7 |
|
|
(4,560.5 |
) |
|
7,321.1 |
|
Cost of product sold |
(1,974.5 |
) |
|
(4,373.8 |
) |
|
(1,949.9 |
) |
|
4,496.1 |
|
|
(3,802.1 |
) |
Gross profit |
497.8 |
|
|
1,557.8 |
|
|
1,527.8 |
|
|
(64.4 |
) |
|
3,519.0 |
|
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 |
57.2 |
|
|
846.0 |
|
|
1,527.4 |
|
|
(41.6 |
) |
|
2,389.0 |
|
Equity in earnings (losses) of equity method investees and subsidiaries and related activities |
1,656.1 |
|
|
(31.1 |
) |
|
410.4 |
|
|
(2,008.1 |
) |
|
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 |
1,349.7 |
|
|
1,018.7 |
|
|
1,764.3 |
|
|
(2,049.7 |
) |
|
2,083.0 |
|
(Provision for) benefit from income taxes |
178.9 |
|
|
(385.1 |
) |
|
(347.6 |
) |
|
3.5 |
|
|
(550.3 |
) |
Net income |
1,528.6 |
|
|
633.6 |
|
|
1,416.7 |
|
|
(2,046.2 |
) |
|
1,532.7 |
|
Net income attributable to noncontrolling interests |
— |
|
|
— |
|
|
(4.1 |
) |
|
— |
|
|
(4.1 |
) |
Net income attributable to CBI |
$ |
1,528.6 |
|
|
$ |
633.6 |
|
|
$ |
1,412.6 |
|
|
$ |
(2,046.2 |
) |
|
$ |
1,528.6 |
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income attributable to CBI |
$ |
1,581.3 |
|
|
$ |
633.5 |
|
|
$ |
1,435.0 |
|
|
$ |
(2,068.5 |
) |
|
$ |
1,581.3 |
|
|
| 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, 2019 |
Net cash provided by operating activities |
$ |
169.8 |
|
|
$ |
353.1 |
|
|
$ |
1,880.4 |
|
|
$ |
(157.0 |
) |
|
$ |
2,246.3 |
|
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
|
Investments in equity method investees and securities |
— |
|
|
(0.1 |
) |
|
(4,081.4 |
) |
|
— |
|
|
(4,081.5 |
) |
Purchases of property, plant and equipment |
(34.4 |
) |
|
(104.2 |
) |
|
(747.7 |
) |
|
— |
|
|
(886.3 |
) |
Purchases of businesses, net of cash acquired |
— |
|
|
(19.5 |
) |
|
(26.1 |
) |
|
— |
|
|
(45.6 |
) |
Proceeds from sale of unconsolidated investment |
— |
|
|
— |
|
|
110.2 |
|
|
— |
|
|
110.2 |
|
Proceeds from sales of assets |
0.6 |
|
|
41.1 |
|
|
30.6 |
|
|
— |
|
|
72.3 |
|
Net proceeds from intercompany notes |
525.1 |
|
|
— |
|
|
— |
|
|
(525.1 |
) |
|
— |
|
Net investment in equity affiliates |
(3,927.8 |
) |
|
(11.1 |
) |
|
— |
|
|
3,938.9 |
|
|
— |
|
Other investing activities |
— |
|
|
— |
|
|
(0.9 |
) |
|
— |
|
|
(0.9 |
) |
Net cash used in investing activities |
(3,436.5 |
) |
|
(93.8 |
) |
|
(4,715.3 |
) |
|
3,413.8 |
|
|
(4,831.8 |
) |
|
|
|
|
|
|
|
|
|
|
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
|
Dividends paid to parent company |
— |
|
|
— |
|
|
(209.5 |
) |
|
209.5 |
|
|
— |
|
Net contributions from equity affiliates |
— |
|
|
25.8 |
|
|
3,965.6 |
|
|
(3,991.4 |
) |
|
— |
|
Net proceeds from (repayments of) intercompany notes |
214.9 |
|
|
(256.9 |
) |
|
(483.1 |
) |
|
525.1 |
|
|
— |
|
Proceeds from issuance of long-term debt |
3,645.6 |
|
|
— |
|
|
12.0 |
|
|
— |
|
|
3,657.6 |
|
Proceeds from shares issued under equity compensation plans |
63.2 |
|
|
— |
|
|
— |
|
|
— |
|
|
63.2 |
|
Net proceeds from (repayments of) short-term borrowings |
465.6 |
|
|
— |
|
|
(420.1 |
) |
|
— |
|
|
45.5 |
|
Dividends paid |
(557.7 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(557.7 |
) |
Purchases of treasury stock |
(504.3 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(504.3 |
) |
Principal payments of long-term debt |
(19.6 |
) |
|
(17.2 |
) |
|
(26.0 |
) |
|
— |
|
|
(62.8 |
) |
Payments of debt issuance, debt extinguishment and other financing costs |
(34.6 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(34.6 |
) |
Payments of minimum tax withholdings on stock-based payment awards |
— |
|
|
(12.8 |
) |
|
(0.8 |
) |
|
— |
|
|
(13.6 |
) |
Net cash provided by (used in) financing activities |
3,273.1 |
|
|
(261.1 |
) |
|
2,838.1 |
|
|
(3,256.8 |
) |
|
2,593.3 |
|
|
|
|
|
|
|
|
|
|
|
Effect of exchange rate changes on cash and cash equivalents |
— |
|
|
— |
|
|
(4.5 |
) |
|
— |
|
|
(4.5 |
) |
|
|
|
|
|
|
|
|
|
|
Net increase (decrease) in cash and cash equivalents |
6.4 |
|
|
(1.8 |
) |
|
(1.3 |
) |
|
— |
|
|
3.3 |
|
Cash and cash equivalents, beginning of year |
4.6 |
|
|
4.4 |
|
|
81.3 |
|
|
— |
|
|
90.3 |
|
Cash and cash equivalents, end of year |
$ |
11.0 |
|
|
$ |
2.6 |
|
|
$ |
80.0 |
|
|
$ |
— |
|
|
$ |
93.6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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: |
|
|
|
|
|
|
|
|
|
Investments in equity method investees and securities |
— |
|
|
(0.1 |
) |
|
(210.8 |
) |
|
— |
|
|
(210.9 |
) |
Purchases of property, plant and equipment |
(21.3 |
) |
|
(128.3 |
) |
|
(908.0 |
) |
|
— |
|
|
(1,057.6 |
) |
Purchases of businesses, net of cash acquired |
— |
|
|
(70.9 |
) |
|
(79.2 |
) |
|
— |
|
|
(150.1 |
) |
Proceeds from sales of assets |
0.1 |
|
|
— |
|
|
5.8 |
|
|
— |
|
|
5.9 |
|
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 |
(6.2 |
) |
|
— |
|
|
0.8 |
|
|
— |
|
|
(5.4 |
) |
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 |
|
|
— |
|
Proceeds from issuance of long-term debt |
5,886.4 |
|
|
— |
|
|
2,047.0 |
|
|
— |
|
|
7,933.4 |
|
Proceeds from shares issued under equity compensation plan |
49.4 |
|
|
— |
|
|
— |
|
|
— |
|
|
49.4 |
|
Net proceeds from short-term borrowings |
33.3 |
|
|
— |
|
|
103.9 |
|
|
— |
|
|
137.2 |
|
Dividends paid |
(400.1 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(400.1 |
) |
Purchases of treasury stock |
(1,038.5 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(1,038.5 |
) |
Principal payments of long-term debt |
(2,717.8 |
) |
|
(19.1 |
) |
|
(4,391.8 |
) |
|
— |
|
|
(7,128.7 |
) |
Payments of debt issuance, debt extinguishment 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 |
) |
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: |
|
|
|
|
|
|
|
|
|
Investments in equity method investees and securities |
— |
|
|
(0.1 |
) |
|
(17.0 |
) |
|
— |
|
|
(17.1 |
) |
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 sales of assets |
0.7 |
|
|
— |
|
|
1.4 |
|
|
— |
|
|
2.1 |
|
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 |
— |
|
|
— |
|
|
(3.7 |
) |
|
— |
|
|
(3.7 |
) |
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 |
|
|
— |
|
Proceeds from issuance of long-term debt |
600.0 |
|
|
— |
|
|
1,365.6 |
|
|
— |
|
|
1,965.6 |
|
Proceeds from shares issued under equity compensation plans |
59.7 |
|
|
— |
|
|
— |
|
|
— |
|
|
59.7 |
|
Net proceeds from (repayments of) short-term borrowings |
231.0 |
|
|
— |
|
|
(33.9 |
) |
|
— |
|
|
197.1 |
|
Dividends paid |
(315.1 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(315.1 |
) |
Purchases of treasury stock |
(1,122.7 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(1,122.7 |
) |
Principal payments of long-term debt |
(767.6 |
) |
|
(20.6 |
) |
|
(183.6 |
) |
|
— |
|
|
(971.8 |
) |
Payments of debt issuance, debt extinguishment 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 |
) |
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 |
|
|