| Condensed Consolidating Balance Sheet |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Balance Sheet at November 30, 2019 |
Current assets: |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
$ |
22.9 |
|
|
$ |
3.6 |
|
|
$ |
67.2 |
|
|
$ |
— |
|
|
$ |
93.7 |
|
Accounts receivable |
377.6 |
|
|
358.5 |
|
|
72.2 |
|
|
— |
|
|
808.3 |
|
Inventories |
44.8 |
|
|
1,023.8 |
|
|
467.6 |
|
|
(177.4 |
) |
|
1,358.8 |
|
Intercompany receivable |
30,226.9 |
|
|
37,000.0 |
|
|
20,412.3 |
|
|
(87,639.2 |
) |
|
— |
|
Prepaid expenses and other |
149.4 |
|
|
50.4 |
|
|
361.2 |
|
|
(76.7 |
) |
|
484.3 |
|
Assets held for sale - current |
179.0 |
|
|
497.5 |
|
|
48.3 |
|
|
— |
|
|
724.8 |
|
Total current assets |
31,000.6 |
|
|
38,933.8 |
|
|
21,428.8 |
|
|
(87,893.3 |
) |
|
3,469.9 |
|
Property, plant, and equipment |
69.3 |
|
|
577.0 |
|
|
4,540.9 |
|
|
— |
|
|
5,187.2 |
|
Investments in subsidiaries |
26,125.0 |
|
|
1,626.9 |
|
|
3,312.1 |
|
|
(31,064.0 |
) |
|
— |
|
Goodwill |
— |
|
|
5,877.9 |
|
|
1,893.9 |
|
|
— |
|
|
7,771.8 |
|
Intangible assets |
— |
|
|
205.6 |
|
|
2,515.7 |
|
|
— |
|
|
2,721.3 |
|
Intercompany notes receivable |
2,791.3 |
|
|
— |
|
|
319.7 |
|
|
(3,111.0 |
) |
|
— |
|
Equity method investments |
— |
|
|
0.5 |
|
|
3,058.2 |
|
|
— |
|
|
3,058.7 |
|
Securities measured at fair value |
— |
|
|
— |
|
|
1,040.2 |
|
|
— |
|
|
1,040.2 |
|
Deferred income taxes |
65.2 |
|
|
— |
|
|
2,811.7 |
|
|
(213.9 |
) |
|
2,663.0 |
|
Assets held for sale |
29.5 |
|
|
434.6 |
|
|
98.4 |
|
|
— |
|
|
562.5 |
|
Other assets |
28.5 |
|
|
295.8 |
|
|
294.8 |
|
|
— |
|
|
619.1 |
|
Total assets |
$ |
60,109.4 |
|
|
$ |
47,952.1 |
|
|
$ |
41,314.4 |
|
|
$ |
(122,282.2 |
) |
|
$ |
27,093.7 |
|
|
|
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
|
Short-term borrowings |
$ |
281.5 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
281.5 |
|
Current maturities of long-term debt |
722.8 |
|
|
11.8 |
|
|
0.2 |
|
|
— |
|
|
734.8 |
|
Accounts payable |
50.1 |
|
|
263.6 |
|
|
362.8 |
|
|
— |
|
|
676.5 |
|
Intercompany payable |
35,298.7 |
|
|
33,834.8 |
|
|
18,505.7 |
|
|
(87,639.2 |
) |
|
— |
|
Other accrued expenses and liabilities |
358.5 |
|
|
331.4 |
|
|
181.0 |
|
|
(103.5 |
) |
|
767.4 |
|
Total current liabilities |
36,711.6 |
|
|
34,441.6 |
|
|
19,049.7 |
|
|
(87,742.7 |
) |
|
2,460.2 |
|
Long-term debt, less current maturities |
11,325.5 |
|
|
14.0 |
|
|
0.2 |
|
|
— |
|
|
11,339.7 |
|
Intercompany notes payable |
319.7 |
|
|
2,263.6 |
|
|
527.7 |
|
|
(3,111.0 |
) |
|
— |
|
Deferred income taxes and other liabilities |
43.2 |
|
|
744.8 |
|
|
683.4 |
|
|
(213.9 |
) |
|
1,257.5 |
|
Total liabilities |
48,400.0 |
|
|
37,464.0 |
|
|
20,261.0 |
|
|
(91,067.6 |
) |
|
15,057.4 |
|
CBI stockholders’ equity |
11,709.4 |
|
|
10,488.1 |
|
|
20,726.5 |
|
|
(31,214.6 |
) |
|
11,709.4 |
|
Noncontrolling interests |
— |
|
|
— |
|
|
326.9 |
|
|
— |
|
|
326.9 |
|
Total stockholders’ equity |
11,709.4 |
|
|
10,488.1 |
|
|
21,053.4 |
|
|
(31,214.6 |
) |
|
12,036.3 |
|
Total liabilities and stockholders’ equity |
$ |
60,109.4 |
|
|
$ |
47,952.1 |
|
|
$ |
41,314.4 |
|
|
$ |
(122,282.2 |
) |
|
$ |
27,093.7 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 at 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 |
|
|
| Condensed Consolidating Statement of Comprehensive Income (Loss) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Comprehensive Income (Loss) for the Nine Months Ended November 30, 2019 |
Sales |
$ |
2,048.1 |
|
|
$ |
5,926.1 |
|
|
$ |
3,315.4 |
|
|
$ |
(4,252.2 |
) |
|
$ |
7,037.4 |
|
Excise taxes |
(244.7 |
) |
|
(342.8 |
) |
|
(9.3 |
) |
|
— |
|
|
(596.8 |
) |
Net sales |
1,803.4 |
|
|
5,583.3 |
|
|
3,306.1 |
|
|
(4,252.2 |
) |
|
6,440.6 |
|
Cost of product sold |
(1,410.0 |
) |
|
(4,428.9 |
) |
|
(1,622.5 |
) |
|
4,222.9 |
|
|
(3,238.5 |
) |
Gross profit |
393.4 |
|
|
1,154.4 |
|
|
1,683.6 |
|
|
(29.3 |
) |
|
3,202.1 |
|
Selling, general, and administrative expenses |
(359.4 |
) |
|
(744.7 |
) |
|
(163.4 |
) |
|
15.8 |
|
|
(1,251.7 |
) |
Impairment of assets held for sale |
(21.9 |
) |
|
(356.8 |
) |
|
(38.3 |
) |
|
— |
|
|
(417.0 |
) |
Gain (loss) on sale of business |
— |
|
|
26.7 |
|
|
49.3 |
|
|
— |
|
|
76.0 |
|
Operating income (loss) |
12.1 |
|
|
79.6 |
|
|
1,531.2 |
|
|
(13.5 |
) |
|
1,609.4 |
|
Equity in earnings (losses) of equity method investees and subsidiaries and related activities |
(49.7 |
) |
|
26.5 |
|
|
(180.8 |
) |
|
(307.3 |
) |
|
(511.3 |
) |
Unrealized net gain (loss) on securities measured at fair value |
— |
|
|
— |
|
|
(2,200.9 |
) |
|
— |
|
|
(2,200.9 |
) |
Net gain (loss) on sale of unconsolidated investment |
— |
|
|
— |
|
|
0.4 |
|
|
— |
|
|
0.4 |
|
Interest income |
0.9 |
|
|
0.4 |
|
|
12.5 |
|
|
— |
|
|
13.8 |
|
Intercompany interest income |
107.6 |
|
|
285.0 |
|
|
9.6 |
|
|
(402.2 |
) |
|
— |
|
Interest expense |
(341.2 |
) |
|
(0.8 |
) |
|
(1.1 |
) |
|
— |
|
|
(343.1 |
) |
Intercompany interest expense |
(281.1 |
) |
|
(70.4 |
) |
|
(50.7 |
) |
|
402.2 |
|
|
— |
|
Loss on extinguishment of debt |
(2.4 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(2.4 |
) |
Income (loss) before income taxes |
(553.8 |
) |
|
320.3 |
|
|
(879.8 |
) |
|
(320.8 |
) |
|
(1,434.1 |
) |
(Provision for) benefit from income taxes |
143.6 |
|
|
(72.9 |
) |
|
972.4 |
|
|
3.4 |
|
|
1,046.5 |
|
Net income (loss) |
(410.2 |
) |
|
247.4 |
|
|
92.6 |
|
|
(317.4 |
) |
|
(387.6 |
) |
Net income (loss) attributable to noncontrolling interests |
— |
|
|
— |
|
|
(22.6 |
) |
|
— |
|
|
(22.6 |
) |
Net income (loss) attributable to CBI |
$ |
(410.2 |
) |
|
$ |
247.4 |
|
|
$ |
70.0 |
|
|
$ |
(317.4 |
) |
|
$ |
(410.2 |
) |
|
|
|
|
|
|
|
|
|
|
Comprehensive income (loss) attributable to CBI |
$ |
(440.1 |
) |
|
$ |
246.7 |
|
|
$ |
32.4 |
|
|
$ |
(279.1 |
) |
|
$ |
(440.1 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Comprehensive Income (Loss) 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 (loss) |
3.0 |
|
|
724.8 |
|
|
1,196.5 |
|
|
22.6 |
|
|
1,946.9 |
|
Equity in earnings (losses) of equity method investees and subsidiaries and related activities |
2,519.4 |
|
|
(25.3 |
) |
|
494.4 |
|
|
(2,956.6 |
) |
|
31.9 |
|
Unrealized net gain (loss) on securities measured at fair value |
— |
|
|
— |
|
|
786.5 |
|
|
— |
|
|
786.5 |
|
Net gain (loss) 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 (loss) 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 (loss) |
2,196.4 |
|
|
789.2 |
|
|
2,159.2 |
|
|
(2,935.1 |
) |
|
2,209.7 |
|
Net income (loss) attributable to noncontrolling interests |
— |
|
|
— |
|
|
(13.3 |
) |
|
— |
|
|
(13.3 |
) |
Net income (loss) attributable to CBI |
$ |
2,196.4 |
|
|
$ |
789.2 |
|
|
$ |
2,145.9 |
|
|
$ |
(2,935.1 |
) |
|
$ |
2,196.4 |
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income (loss) attributable to CBI |
$ |
1,893.4 |
|
|
$ |
788.6 |
|
|
$ |
1,843.1 |
|
|
$ |
(2,631.7 |
) |
|
$ |
1,893.4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Comprehensive Income (Loss) for the Three Months Ended November 30, 2019 |
Sales |
$ |
681.4 |
|
|
$ |
1,800.0 |
|
|
$ |
1,008.1 |
|
|
$ |
(1,308.0 |
) |
|
$ |
2,181.5 |
|
Excise taxes |
(76.3 |
) |
|
(102.5 |
) |
|
(3.3 |
) |
|
— |
|
|
(182.1 |
) |
Net sales |
605.1 |
|
|
1,697.5 |
|
|
1,004.8 |
|
|
(1,308.0 |
) |
|
1,999.4 |
|
Cost of product sold |
(475.6 |
) |
|
(1,371.5 |
) |
|
(479.3 |
) |
|
1,314.5 |
|
|
(1,011.9 |
) |
Gross profit |
129.5 |
|
|
326.0 |
|
|
525.5 |
|
|
6.5 |
|
|
987.5 |
|
Selling, general, and administrative expenses |
(124.1 |
) |
|
(235.9 |
) |
|
(52.5 |
) |
|
6.2 |
|
|
(406.3 |
) |
Impairment of assets held for sale |
(21.9 |
) |
|
(329.9 |
) |
|
(38.2 |
) |
|
— |
|
|
(390.0 |
) |
Gain (loss) on sale of business |
— |
|
|
26.7 |
|
|
49.3 |
|
|
— |
|
|
76.0 |
|
Operating income (loss) |
(16.5 |
) |
|
(213.1 |
) |
|
484.1 |
|
|
12.7 |
|
|
267.2 |
|
Equity in earnings (losses) of equity method investees and subsidiaries and related activities |
491.5 |
|
|
21.2 |
|
|
171.2 |
|
|
(606.6 |
) |
|
77.3 |
|
Unrealized net gain (loss) on securities measured at fair value |
— |
|
|
— |
|
|
(534.3 |
) |
|
— |
|
|
(534.3 |
) |
Net gain (loss) on sale of unconsolidated investment |
— |
|
|
— |
|
|
0.5 |
|
|
— |
|
|
0.5 |
|
Interest income |
0.4 |
|
|
0.1 |
|
|
4.1 |
|
|
— |
|
|
4.6 |
|
Intercompany interest income |
34.2 |
|
|
99.3 |
|
|
3.2 |
|
|
(136.7 |
) |
|
— |
|
Interest expense |
(107.3 |
) |
|
(0.3 |
) |
|
(0.1 |
) |
|
— |
|
|
(107.7 |
) |
Intercompany interest expense |
(97.8 |
) |
|
(21.8 |
) |
|
(17.1 |
) |
|
136.7 |
|
|
— |
|
Income (loss) before income taxes |
304.5 |
|
|
(114.6 |
) |
|
111.6 |
|
|
(593.9 |
) |
|
(292.4 |
) |
(Provision for) benefit from income taxes |
55.9 |
|
|
27.5 |
|
|
576.3 |
|
|
(0.8 |
) |
|
658.9 |
|
Net income (loss) |
360.4 |
|
|
(87.1 |
) |
|
687.9 |
|
|
(594.7 |
) |
|
366.5 |
|
Net income (loss) attributable to noncontrolling interests |
— |
|
|
— |
|
|
(6.1 |
) |
|
— |
|
|
(6.1 |
) |
Net income (loss) attributable to CBI |
$ |
360.4 |
|
|
$ |
(87.1 |
) |
|
$ |
681.8 |
|
|
$ |
(594.7 |
) |
|
$ |
360.4 |
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income (loss) attributable to CBI |
$ |
453.2 |
|
|
$ |
(87.0 |
) |
|
$ |
774.9 |
|
|
$ |
(687.9 |
) |
|
$ |
453.2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Comprehensive Income (Loss) 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 (losses) of equity method investees and subsidiaries and related activities |
373.5 |
|
|
0.7 |
|
|
167.7 |
|
|
(512.6 |
) |
|
29.3 |
|
Unrealized net gain (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 (loss) 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 (loss) |
303.1 |
|
|
263.1 |
|
|
257.1 |
|
|
(511.2 |
) |
|
312.1 |
|
Net income (loss) attributable to noncontrolling interests |
— |
|
|
— |
|
|
(9.0 |
) |
|
— |
|
|
(9.0 |
) |
Net income (loss) attributable to CBI |
$ |
303.1 |
|
|
$ |
263.1 |
|
|
$ |
248.1 |
|
|
$ |
(511.2 |
) |
|
$ |
303.1 |
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income (loss) attributable to CBI |
$ |
101.8 |
|
|
$ |
263.1 |
|
|
$ |
46.8 |
|
|
$ |
(309.9 |
) |
|
$ |
101.8 |
|
|
| 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, 2019 |
Net cash provided by (used in) operating activities |
$ |
750.5 |
|
|
$ |
(192.1 |
) |
|
$ |
1,601.1 |
|
|
$ |
(83.2 |
) |
|
$ |
2,076.3 |
|
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
|
Purchases of property, plant, and equipment |
(33.8 |
) |
|
(48.1 |
) |
|
(456.4 |
) |
|
— |
|
|
(538.3 |
) |
Purchases of businesses, net of cash acquired |
— |
|
|
— |
|
|
(36.2 |
) |
|
— |
|
|
(36.2 |
) |
Investments in equity method investees and securities |
— |
|
|
— |
|
|
(33.7 |
) |
|
— |
|
|
(33.7 |
) |
Proceeds from sales of assets |
0.2 |
|
|
0.1 |
|
|
0.4 |
|
|
— |
|
|
0.7 |
|
Proceeds from sale of business |
9.0 |
|
|
150.6 |
|
|
110.1 |
|
|
— |
|
|
269.7 |
|
Net proceeds from (repayments of) intercompany notes |
(173.1 |
) |
|
— |
|
|
— |
|
|
173.1 |
|
|
— |
|
Net contributions from (investment in) equity affiliates |
(84.5 |
) |
|
— |
|
|
— |
|
|
84.5 |
|
|
— |
|
Other investing activities |
— |
|
|
— |
|
|
1.9 |
|
|
— |
|
|
1.9 |
|
Net cash provided by (used in) investing activities |
(282.2 |
) |
|
102.6 |
|
|
(413.9 |
) |
|
257.6 |
|
|
(335.9 |
) |
|
|
|
|
|
|
|
|
|
|
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
|
Dividends paid to parent company |
— |
|
|
— |
|
|
(116.7 |
) |
|
116.7 |
|
|
— |
|
Net contributions from (investment in) equity affiliates |
— |
|
|
— |
|
|
118.0 |
|
|
(118.0 |
) |
|
— |
|
Net proceeds from (repayments of) intercompany notes |
1,194.5 |
|
|
115.1 |
|
|
(1,136.5 |
) |
|
(173.1 |
) |
|
— |
|
Proceeds from issuance of long-term debt |
1,291.3 |
|
|
— |
|
|
— |
|
|
— |
|
|
1,291.3 |
|
Principal payments of long-term debt |
(2,044.9 |
) |
|
(10.9 |
) |
|
(5.2 |
) |
|
— |
|
|
(2,061.0 |
) |
Net proceeds from (repayments of) short-term borrowings |
(451.0 |
) |
|
— |
|
|
(59.0 |
) |
|
— |
|
|
(510.0 |
) |
Dividends paid |
(427.0 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(427.0 |
) |
Purchases of treasury stock |
(50.0 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(50.0 |
) |
Proceeds from shares issued under equity compensation plans |
38.9 |
|
|
— |
|
|
— |
|
|
— |
|
|
38.9 |
|
Payments of minimum tax withholdings on stock-based payment awards |
— |
|
|
(13.7 |
) |
|
(0.5 |
) |
|
— |
|
|
(14.2 |
) |
Payments of debt issuance costs |
(8.2 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(8.2 |
) |
Net cash provided by (used in) financing activities |
(456.4 |
) |
|
90.5 |
|
|
(1,199.9 |
) |
|
(174.4 |
) |
|
(1,740.2 |
) |
|
|
|
|
|
|
|
|
|
|
Effect of exchange rate changes on cash and cash equivalents |
— |
|
|
— |
|
|
(0.1 |
) |
|
— |
|
|
(0.1 |
) |
|
|
|
|
|
|
|
|
|
|
Net increase (decrease) in cash and cash equivalents |
11.9 |
|
|
1.0 |
|
|
(12.8 |
) |
|
— |
|
|
0.1 |
|
Cash and cash equivalents, beginning of period |
11.0 |
|
|
2.6 |
|
|
80.0 |
|
|
— |
|
|
93.6 |
|
Cash and cash equivalents, end of period |
$ |
22.9 |
|
|
$ |
3.6 |
|
|
$ |
67.2 |
|
|
$ |
— |
|
|
$ |
93.7 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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: |
|
|
|
|
|
|
|
|
|
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 |
) |
Investments in equity method investees and securities |
— |
|
|
(0.1 |
) |
|
(4,077.2 |
) |
|
— |
|
|
(4,077.3 |
) |
Proceeds from sales of assets |
0.5 |
|
|
39.4 |
|
|
6.4 |
|
|
— |
|
|
46.3 |
|
Proceeds from sale of unconsolidated investment |
— |
|
|
— |
|
|
110.2 |
|
|
— |
|
|
110.2 |
|
Net proceeds from (repayments of) intercompany notes |
694.0 |
|
|
— |
|
|
— |
|
|
(694.0 |
) |
|
— |
|
Net contributions from (investment in) equity affiliates |
(3,934.9 |
) |
|
(11.1 |
) |
|
— |
|
|
3,946.0 |
|
|
— |
|
Other investing activities |
— |
|
|
— |
|
|
(0.9 |
) |
|
— |
|
|
(0.9 |
) |
Net cash provided by (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 (investment in) 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 |
|
Principal payments of long-term debt |
(6.2 |
) |
|
(13.2 |
) |
|
(25.9 |
) |
|
— |
|
|
(45.3 |
) |
Net proceeds from (repayments of) short-term borrowings |
359.7 |
|
|
— |
|
|
(374.2 |
) |
|
— |
|
|
(14.5 |
) |
Dividends paid |
(417.9 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(417.9 |
) |
Purchases of treasury stock |
(504.3 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(504.3 |
) |
Proceeds from shares issued under equity compensation plans |
32.6 |
|
|
— |
|
|
— |
|
|
— |
|
|
32.6 |
|
Payments of minimum tax withholdings on stock-based payment awards |
— |
|
|
(12.8 |
) |
|
(0.8 |
) |
|
— |
|
|
(13.6 |
) |
Payments of debt issuance costs |
(33.3 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(33.3 |
) |
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 |
|
|