Annual report pursuant to Section 13 and 15(d)

Other Assets (Tables)

v2.4.0.6
Other Assets (Tables)
 12 Months Ended
Feb. 28, 2013
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Components of other assets
The major components of other assets are as follows:
 
February 28, 2013
 
February 29, 2012
(in millions)
 
 
 
Investments in equity method investees
$
243.6

 
$
248.3

Deferred financing costs
54.4

 
44.9

Investment in Accolade
42.8

 
37.1

Other
17.3

 
22.3

 
358.1

 
352.6

Less – Accumulated amortization
(13.9
)
 
(32.1
)
 
$
344.2

 
$
320.5

Summary of financial information for Company's equity method investments
The following table presents summarized financial information for the Company’s Crown Imports equity method investment and the other material equity method investments discussed above. The amounts shown represent 100% of these equity method investments’ financial position and results of operations for those investments accounted for under the equity method as of February 28, 2013. As the financial position and results of operations of Ruffino have been included in the Company’s consolidated financial position and results of operations from the date of acquisition, amounts shown for Ruffino represent 100% of the equity method investment’s results of operations prior to the date of acquisition.
 
February 28, 2013
 
February 29, 2012
 
Crown
Imports
 
Other
 
Total
 
Crown
Imports
 
Other
 
Total
(in millions)
 
 
 
 
 
 
 
 
 
 
 
Current assets
$
404.1

 
$
27.4

 
$
431.5

 
$
372.3

 
$
20.9

 
$
393.2

Noncurrent assets
$
36.4

 
$
50.8

 
$
87.2

 
$
37.3

 
$
50.6

 
$
87.9

Current liabilities
$
123.2

 
$
4.7

 
$
127.9

 
$
105.0

 
$
4.2

 
$
109.2

Noncurrent liabilities
$
6.0

 
$
22.6

 
$
28.6

 
$
4.6

 
$
25.4

 
$
30.0


 
Crown
Imports
 
Other
 
Total
(in millions)
 
 
 
 
 
For the Year Ended February 28, 2013
 
 
 
 
 
Net sales
$
2,588.1

 
$
52.6

 
$
2,640.7

Gross profit
$
755.4

 
$
39.0

 
$
794.4

Income from continuing operations
$
446.2

 
$
24.8

 
$
471.0

Net income
$
446.2

 
$
24.8

 
$
471.0

 
 
 
 
 
 
For the Year Ended February 29, 2012
 
 
 
 
 
Net sales
$
2,469.5

 
$
106.2

 
$
2,575.7

Gross profit
$
721.0

 
$
61.5

 
$
782.5

Income from continuing operations
$
430.2

 
$
28.1

 
$
458.3

Net income
$
430.2

 
$
28.1

 
$
458.3

 
 
 
 
 
 
For the Year Ended February 28, 2011
 
 
 
 
 
Net sales
$
2,392.9

 
$
987.5

 
$
3,380.4

Gross profit
$
690.5

 
$
170.4

 
$
860.9

Income from continuing operations
$
452.3

 
$
40.4

 
$
492.7

Net income
$
452.3

 
$
40.4

 
$
492.7

Schedule of net gain recognized and net cash proceeds received on divestiture of business
The following table summarizes the net gain recognized and the net cash proceeds received in connection with this divestiture:
(in millions)
 
Net assets sold
$
(734.1
)
Cash received from buyer, net of cash divested and post-closing adjustments paid
205.1

Retained interest in Accolade
48.2

Foreign currency reclassification
678.8

Indemnification liabilities
(18.4
)
Direct costs to sell, paid and accrued
(13.2
)
Other
7.9

Net gain on sale
174.3

Loss on settlement of pension obligations (see Note 12)
(109.9
)
Net gain
$
64.4