| COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO CBI Comprehensive income (loss) consists of net income (loss), foreign currency translation adjustments, net unrealized gain (loss) on derivative instruments, pension/postretirement adjustments, and our share of OCI of equity method investments. The reconciliation of net income (loss) attributable to CBI to comprehensive income (loss) attributable to CBI is as follows:
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Before Tax
Amount |
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Tax (Expense)
Benefit |
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Net of Tax
Amount |
| (in millions) |
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| For the Three Months Ended May 31, 2021 |
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| Net income (loss) attributable to CBI |
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$ |
(908.1) |
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| Other comprehensive income (loss) attributable to CBI: |
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| Foreign currency translation adjustments: |
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| Net gain (loss) |
$ |
103.0 |
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$ |
— |
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103.0 |
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| Reclassification adjustments |
— |
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— |
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— |
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| Net gain (loss) recognized in other comprehensive income (loss) |
103.0 |
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— |
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103.0 |
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| Unrealized gain (loss) on cash flow hedges: |
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| Net derivative gain (loss) |
27.5 |
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(9.8) |
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17.7 |
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| Reclassification adjustments |
(7.8) |
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0.2 |
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(7.6) |
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| Net gain (loss) recognized in other comprehensive income (loss) |
19.7 |
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(9.6) |
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10.1 |
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| Pension/postretirement adjustments: |
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| Net actuarial gain (loss) |
(0.2) |
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— |
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(0.2) |
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| Reclassification adjustments |
— |
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— |
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— |
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| Net gain (loss) recognized in other comprehensive income (loss) |
(0.2) |
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— |
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(0.2) |
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| Share of OCI of equity method investments |
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| Net gain (loss) |
(18.1) |
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4.1 |
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(14.0) |
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| Reclassification adjustments |
— |
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— |
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— |
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| Net gain (loss) recognized in other comprehensive income (loss) |
(18.1) |
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4.1 |
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(14.0) |
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| Other comprehensive income (loss) attributable to CBI |
$ |
104.4 |
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$ |
(5.5) |
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98.9 |
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| Comprehensive income (loss) attributable to CBI |
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$ |
(809.2) |
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| For the Three Months Ended May 31, 2020 |
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| Net income (loss) attributable to CBI |
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$ |
(177.9) |
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| Other comprehensive income (loss) attributable to CBI: |
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| Foreign currency translation adjustments: |
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| Net gain (loss) |
$ |
(619.9) |
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$ |
— |
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(619.9) |
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| Reclassification adjustments |
— |
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— |
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— |
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| Net gain (loss) recognized in other comprehensive income (loss) |
(619.9) |
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— |
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(619.9) |
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| Unrealized gain (loss) on cash flow hedges: |
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| Net derivative gain (loss) |
(200.5) |
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5.3 |
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(195.2) |
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| Reclassification adjustments |
7.7 |
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(0.5) |
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7.2 |
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| Net gain (loss) recognized in other comprehensive income (loss) |
(192.8) |
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4.8 |
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(188.0) |
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| Pension/postretirement adjustments: |
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| Net actuarial gain (loss) |
0.5 |
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(0.2) |
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0.3 |
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| Reclassification adjustments |
— |
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— |
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— |
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| Net gain (loss) recognized in other comprehensive income (loss) |
0.5 |
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(0.2) |
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0.3 |
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Before Tax
Amount |
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Tax (Expense)
Benefit |
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Net of Tax
Amount |
| (in millions) |
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| Share of OCI of equity method investments |
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| Net gain (loss) |
52.5 |
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(1.0) |
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51.5 |
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| Reclassification adjustments |
— |
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— |
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— |
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| Net gain (loss) recognized in other comprehensive income (loss) |
52.5 |
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(1.0) |
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51.5 |
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| Other comprehensive income (loss) attributable to CBI |
$ |
(759.7) |
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$ |
3.6 |
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(756.1) |
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| Comprehensive income (loss) attributable to CBI |
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$ |
(934.0) |
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Accumulated other comprehensive income (loss), net of income tax effect, includes the following components:
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Foreign
Currency
Translation
Adjustments |
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Net
Unrealized
Gain (Loss)
on Derivative
Instruments |
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Pension/
Postretirement
Adjustments |
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Share of OCI of
Equity Method
Investments |
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Accumulated
Other
Comprehensive
Income
(Loss) |
| (in millions) |
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| Balance, February 28, 2021 |
$ |
(392.5) |
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$ |
43.5 |
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$ |
(4.2) |
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$ |
17.7 |
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$ |
(335.5) |
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| Other comprehensive income (loss): |
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| Other comprehensive income (loss) before reclassification adjustments |
103.0 |
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17.7 |
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(0.2) |
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(14.0) |
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106.5 |
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| Amounts reclassified from accumulated other comprehensive income (loss) |
— |
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(7.6) |
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— |
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— |
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(7.6) |
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| Other comprehensive income (loss) |
103.0 |
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10.1 |
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(0.2) |
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(14.0) |
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98.9 |
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| Balance, May 31, 2021 |
$ |
(289.5) |
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$ |
53.6 |
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$ |
(4.4) |
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$ |
3.7 |
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$ |
(236.6) |
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