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

Quarterly report pursuant to Section 13 or 15(d)

Comprehensive Income (Loss) (Tables)

Comprehensive Income (Loss) (Tables)

6 Months Ended

Aug. 31, 2011

Stockholders' Equity and Comprehensive Income (Loss) [Abstract]

Reconciliation of net income to comprehensive income (loss)


	Before Tax			Tax (Expense)			Net of Tax
(in millions)	Amount			Benefit			Amount
For the Six Months Ended August 31, 2011
Net income							$	237.2
Other comprehensive income (loss):
Foreign currency translation adjustments	$	42.0		$	(0.5	)		41.5
Unrealized loss on cash flow hedges:
Net derivative losses		(19.6	)		10.2			(9.4	)
Reclassification adjustments		(5.1	)		1.0			(4.1	)

Net loss recognized in other comprehensive income		(24.7	)		11.2			(13.5	)
Net unrealized loss on AFS debt securities		(0.2	)		-			(0.2	)
Pension/postretirement adjustments:
Net gains arising during the period		-			-			-
Reclassification adjustments		0.2			-			0.2

Net gain recognized in other comprehensive income		0.2			-			0.2

Other comprehensive income	$	17.3		$	10.7			28.0

Total comprehensive income							$	265.2


For the Six Months Ended August 31, 2010
Net income							$	140.4
Other comprehensive (loss) income:
Foreign currency translation adjustments	$	(14.3	)	$	(1.6	)		(15.9	)
Unrealized loss on cash flow hedges:
Net derivative losses		(19.1	)		5.1			(14.0	)
Reclassification adjustments		(13.3	)		3.4			(9.9	)

Net loss recognized in other comprehensive income		(32.4	)		8.5			(23.9	)
Pension/postretirement adjustments:
Net losses arising during the period		(0.7	)		0.4			(0.3	)
Reclassification adjustments		4.9			(1.4	)		3.5

Net gain recognized in other comprehensive income		4.2			(1.0	)		3.2

Other comprehensive loss	$	(42.5	)	$	5.9			(36.6	)

Total comprehensive income							$	103.8


For the Three Months Ended August 31, 2011
Net income							$	162.7
Other comprehensive income (loss):
Foreign currency translation adjustments	$	2.7		$	0.3			3.0
Unrealized loss on cash flow hedges:
Net derivative losses		(14.2	)		6.8			(7.4	)
Reclassification adjustments		(3.1	)		0.6			(2.5	)

Net loss recognized in other comprehensive income		(17.3	)		7.4			(9.9	)
Net unrealized loss on AFS debt securities		(0.2	)		-			(0.2	)
Pension/postretirement adjustments:
Net gains arising during the period		-			-			-
Reclassification adjustments		0.2			-			0.2

Net gain recognized in other comprehensive income		0.2			-			0.2

Other comprehensive loss	$	(14.6	)	$	7.7			(6.9	)

Total comprehensive income							$	155.8


	Before Tax			Tax (Expense)			Net of Tax
	Amount			Benefit			Amount
(in millions)
For the Three Months Ended August 31, 2010
Net income							$	91.3
Other comprehensive income (loss):
Foreign currency translation adjustments	$	36.8		$	2.5			39.3
Unrealized loss on cash flow hedges:
Net derivative losses		(14.1	)		4.5			(9.6	)
Reclassification adjustments		(5.3	)		1.5			(3.8	)

Net loss recognized in other comprehensive income		(19.4	)		6.0			(13.4	)
Pension/postretirement adjustments:
Net losses arising during the period		(6.7	)		2.1			(4.6	)
Reclassification adjustments		2.5			(0.7	)		1.8

Net loss recognized in other comprehensive income		(4.2	)		1.4			(2.8	)

Other comprehensive income	$	13.2		$	9.9			23.1

Total comprehensive income							$	114.4

Accumulated other comprehensive income, net of income tax effect


			Net			Net
	Foreign		Unrealized			Unrealized						Accumulated
	Currency		Gains			Gains (Losses) on			Pension/			Other
	Translation		(Losses) on			AFS Debt			Postretirement			Comprehensive
	Adjustments		Derivatives			Securities			Adjustments			Income
(in millions)
Balance, February 28, 2011	$	193.2	$	4.2		$	0.8		$	(9.4	)	$	188.8
Current period change		41.5		(13.5	)		(0.2	)		0.2			28.0

Balance, August 31, 2011	$	234.7	$	(9.3	)	$	0.6		$	(9.2	)	$	216.8

- Definition

Tabular disclosure of components of comprehensive income (loss) including, but not limited to: (a) foreign currency translation adjustments; (b) gains (losses) on foreign currency transactions that are designated as, and are effective as, economic hedges of a net investment in a foreign entity; (c) gains (losses) on intercompany foreign currency transactions that are of a long-term-investment nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements; (d) change in the market value of a futures contract that qualifies as a hedge of an asset reported at fair value; (e) unrealized holding gains (losses) on available-for-sale securities and that resulting from transfers of debt securities from the held-to-maturity category to the available-for-sale category; (f) a net loss recognized as an additional pension liability not yet recognized as net periodic pension cost; and (g) the net gain (loss) and net prior service cost or credit for pension plans and other postretirement benefit plans.

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