Constellation Brands, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Derivative Instruments (Tables)

Derivative Instruments (Tables)

6 Months Ended

Aug. 31, 2011

Fair value and location of the Company's derivative instruments on its Consolidated Balance Sheets


	August 31,		February 28,
Balance Sheet Location	2011		2011
(in millions)
Derivative instruments designated as hedging instruments
Foreign currency contracts
Prepaid expenses and other	$	16.3	$	11.0
Other accrued expenses and liabilities	$	1.5	$	3.4
Other assets, net	$	6.5	$	2.8
Other liabilities	$	1.3	$	0.9

Interest rate swap contracts
Other accrued expenses and liabilities	$	12.6	$	6.1
Other assets, net	$	-	$	1.7
Other liabilities	$	28.9	$	-

Derivative instruments not designated as hedging instruments
Foreign currency contracts
Prepaid expenses and other	$	4.9	$	3.2
Other accrued expenses and liabilities	$	1.2	$	1.0
Other assets, net	$	0.1	$	-
Other liabilities	$	0.1	$	-

Effect of the Company's derivative instruments designated in cash flow hedging relationships and undesignated derivative Instruments on its Consolidated Statements of Operations and Other Comprehensive Income, net of income tax effect


					Net
	Net				Gain (Loss)
	Gain (Loss)				Reclassified
	Recognized				from AOCI to
Derivative Instruments in	in OCI			Location of Net Gain (Loss)	Income
Designated Cash Flow	(Effective			Reclassified from AOCI to	(Effective
Hedging Relationships	portion)			Income (Effective portion)	portion)
(in millions)
For the Six Months Ended August 31, 2011
Foreign currency contracts	$	7.0		Sales	$	2.7
Foreign currency contracts		6.2		Cost of product sold		0.6
Interest rate swap contracts		(22.6	)	Interest expense, net		-

Total	$	(9.4	)	Total	$	3.3


For the Six Months Ended August 31, 2010
Foreign currency contracts	$	0.1		Sales	$	7.9
Foreign currency contracts		(2.1	)	Cost of product sold		1.3
Interest rate swap contracts		(12.0	)	Interest expense, net		-

Total	$	(14.0	)	Total	$	9.2


For the Three Months Ended August 31, 2011
Foreign currency contracts	$	3.3		Sales	$	1.7
Foreign currency contracts		2.3		Cost of product sold		0.6
Interest rate swap contracts		(13.0	)	Interest expense, net		-

Total	$	(7.4	)	Total	$	2.3


For the Three Months Ended August 31, 2010
Foreign currency contracts	$	1.2		Sales	$	4.3
Foreign currency contracts		1.2		Cost of product sold		(0.9	)
Interest rate swap contracts		(12.0	)	Interest expense, net		-

Total	$	(9.6	)	Total	$	3.4


		Net Gain
		Recognized
Derivative Instruments in	Location of Net Gain	in Income
Designated Cash Flow	Recognized in Income	(Ineffective
Hedging Relationships	(Ineffective portion)	portion)
(in millions)
For the Six Months Ended August 31, 2011
	Selling, general and
Foreign currency contracts	administrative expenses	$	0.8


For the Six Months Ended August 31, 2010
	Selling, general and
Foreign currency contracts	administrative expenses	$	0.7


For the Three Months Ended August 31, 2011
	Selling, general and
Foreign currency contracts	administrative expenses	$	0.2


For the Three Months Ended August 31, 2010
	Selling, general and
Foreign currency contracts	administrative expenses	$	0.4


		Net
		Gain (Loss)
Derivative Instruments not	Location of Net Gain (Loss)	Recognized
Designated as Hedging Instruments	Recognized in Income	in Income
(in millions)
For the Six Months Ended August 31, 2011
Foreign currency contracts	Selling, general and administrative expenses	$	4.8


For the Six Months Ended August 31, 2010
Foreign currency contracts	Selling, general and administrative expenses	$	(1.0	)


For the Three Months Ended August 31, 2011
Foreign currency contracts	Selling, general and administrative expenses	$	1.7


For the Three Months Ended August 31, 2010
Foreign currency contracts	Selling, general and administrative expenses	$	3.3

- Definition

Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges.

+ References + Details

- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References + Details