Quarterly report pursuant to Section 13 or 15(d)

Wine and Spirits Transformation (Tables)

v3.19.2
Wine and Spirits Transformation (Tables)
 3 Months Ended
May 31, 2019
Text Block [Abstract]  
Components of assets held for sale The carrying value of assets held for sale consists of the following:
 
May 31,
2019
(in millions)
 
Assets
 
Inventories
$
658.8

Prepaid expenses and other
10.1

Assets held for sale - current
668.9

 
 
Property, plant, and equipment
179.7

Goodwill
397.3

Intangible assets
347.2

Other assets
1.5

Assets held for sale
925.7

 
 
Liabilities
 
Accounts payable
7.8

Other accrued expenses and liabilities
26.3

Deferred income taxes and other liabilities
0.1

Liabilities held for sale (1)
34.2

Net assets held for sale
$
1,560.4


(1) 
Liabilities held for sale are included in the Consolidated Balance Sheet as of May 31, 2019, within the respective liability line items noted above.
Components of restructuring charges
We recognized charges in connection with our ongoing efforts to gain efficiencies and reduce our cost structure within the Wine and Spirits segment as follows:
 
Results of Operations Location
 
For the Three Months Ended
May 31, 2019
(in millions)
 
 
 
Loss on inventory write-downs
Cost of product sold
 
$
27.2

Contract termination costs
Cost of product sold
 
15.8

Employee termination costs
Selling, general, and administrative expenses
 
11.9

Other costs
Selling, general, and administrative expenses
 
6.3

 
 
 
$
61.2