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

Quarterly report pursuant to Section 13 or 15(d)

Restructuring Charges (Tables)

Restructuring Charges (Tables)

6 Months Ended

Aug. 31, 2011

Details of restructuring liability by plan


	Fiscal
	2012			Global			Other
	Initiative			Initiative			Plans			Total
(in millions)
Restructuring liability, February 28, 2011	$	-		$	7.6		$	2.1		$	9.7

Restructuring charges:
Employee termination benefit costs		11.0			0.1			-			11.1
Contract termination costs		-			-			-			-
Facility consolidation/relocation costs		-			-			-			-

Restructuring charges, May 31, 2011		11.0			0.1			-			11.1

Employee termination benefit costs		(0.2	)		(0.2	)		-			(0.4	)
Contract termination costs		-			-			-			-
Facility consolidation/relocation costs		-			0.1			-			0.1

Restructuring charges, August 31, 2011		(0.2	)		(0.1	)		-			(0.3	)

Total restructuring charges		10.8			-			-			10.8

Cash expenditures		(2.0	)		(3.3	)		(0.9	)		(6.2	)

Foreign currency translation adjustments		-			0.7			-			0.7

Restructuring liability, August 31, 2011	$	8.8		$	5.0		$	1.2		$	15.0

Summary of restructuring charges and other costs incurred


	Fiscal
	2012		Global		Other
	Initiative		Initiative		Plans		Total
(in millions)
For the Six Months Ended August 31, 2011
Restructuring charges	$	10.8	$	-	$	-	$	10.8
Other costs:
Accelerated depreciation (cost of product sold)		-		0.3		-		0.3
Asset write-down/other costs/acquisition-related integration costs (selling, general and administrative expenses)		3.5		0.7		-		4.2

Total other costs		3.5		1.0		-		4.5

Total costs	$	14.3	$	1.0	$	-	$	15.3


Total Costs by Reportable Segment:
CWNA
Restructuring charges	$	5.3	$	-	$	-	$	5.3
Other costs		2.5		1.0		-		3.5

Total CWNA	$	7.8	$	1.0	$	-	$	8.8


Corporate Operations and Other
Restructuring charges	$	5.5	$	-	$	-	$	5.5
Other costs		1.0		-		-		1.0

Total Corporate Operations and Other	$	6.5	$	-	$	-	$	6.5


For the Six Months Ended August 31, 2010
Restructuring charges	$	-	$	12.2	$	6.4	$	18.6
Other costs:
Accelerated depreciation (cost of product sold)		-		1.1		-		1.1
Asset write-down/other costs/acquisition-related integration costs (selling, general and administrative expenses)		-		2.7		0.2		2.9

Total other costs		-		3.8		0.2		4.0

Total costs	$	-	$	16.0	$	6.6	$	22.6


Total Costs by Reportable Segment:
CWNA
Restructuring charges	$	-	$	1.7	$	0.1	$	1.8
Other costs		-		3.4		0.2		3.6

Total CWNA	$	-	$	5.1	$	0.3	$	5.4


CWAE
Restructuring charges	$	-	$	10.5	$	6.3	$	16.8
Other costs		-		0.3		-		0.3

Total CWAE	$	-	$	10.8	$	6.3	$	17.1


Corporate Operations and Other
Restructuring charges	$	-	$	-	$	-	$	-
Other costs		-		0.1		-		0.1

Total Corporate Operations and Other	$	-	$	0.1	$	-	$	0.1


	Fiscal
	2012			Global			Other
	Initiative			Initiative			Plans		Total
(in millions)
For the Three Months Ended August 31, 2011
Restructuring charges	$	(0.2	)	$	(0.1	)	$	-	$	(0.3	)
Other costs:
Accelerated depreciation (cost of product sold)		-			0.1			-		0.1
Asset write-down/other costs/acquisition-related integration costs (selling, general and administrative expenses)		2.5			0.6			-		3.1

Total other costs		2.5			0.7			-		3.2

Total costs	$	2.3		$	0.6		$	-	$	2.9


Total Costs by Reportable Segment:
CWNA
Restructuring charges	$	(0.2	)	$	(0.1	)	$	-	$	(0.3	)
Other costs		2.4			0.7			-		3.1

Total CWNA	$	2.2		$	0.6		$	-	$	2.8


Corporate Operations and Other
Restructuring charges	$	-		$	-		$	-	$	-
Other costs		0.1			-			-		0.1

Total Corporate Operations and Other	$	0.1		$	-		$	-	$	0.1


For the Three Months Ended August 31, 2010
Restructuring charges	$	-		$	7.4		$	6.3	$	13.7
Other costs:
Accelerated depreciation (cost of product sold)		-			0.1			-		0.1
Asset write-down/other costs/acquisition-related integration costs (selling, general and administrative expenses)		-			1.8			1.1		2.9

Total other costs		-			1.9			1.1		3.0

Total costs	$	-		$	9.3		$	7.4	$	16.7


Total Costs by Reportable Segment:
CWNA
Restructuring charges	$	-		$	1.0		$	-	$	1.0
Other costs		-			1.7			0.1		1.8

Total CWNA	$	-		$	2.7		$	0.1	$	2.8


CWAE
Restructuring charges	$	-		$	6.4		$	6.3	$	12.7
Other costs		-			0.1			1.0		1.1

Total CWAE	$	-		$	6.5		$	7.3	$	13.8


Corporate Operations and Other
Restructuring charges	$	-		$	-		$	-	$	-
Other costs		-			0.1			-		0.1

Total Corporate Operations and Other	$	-		$	0.1		$	-	$	0.1

Summary of restructuring charges and other costs incurred since inception and total expected costs for each plan


	Fiscal
	2012		Global
	Initiative		Initiative
(in millions)
Costs incurred to date
Restructuring charges:
Employee termination benefit costs	$	10.8	$	35.4
Contract termination costs		-		8.7
Facility consolidation/relocation costs		-		2.7

Total restructuring charges		10.8		46.8
Other costs:
Accelerated depreciation/inventory write-down/other costs (cost of product sold)		-		13.8
Asset write-down/other costs (selling, general and administrative expenses)		3.5		41.0

Total other costs		3.5		54.8

Total costs incurred to date	$	14.3	$	101.6


Total Costs Incurred to Date by Reportable Segment:
CWNA
Restructuring charges	$	5.3	$	23.0
Other costs		2.5		43.6

Total CWNA	$	7.8	$	66.6


CWAE
Restructuring charges	$	-	$	19.5
Other costs		-		6.2

Total CWAE	$	-	$	25.7


Corporate Operations and Other
Restructuring charges	$	5.5	$	4.3
Other costs		1.0		5.0

Total Corporate Operations and Other	$	6.5	$	9.3


Total expected costs
Restructuring charges:
Employee termination benefit costs	$	12.4	$	35.4
Contract termination costs		-		8.7
Facility consolidation/relocation costs		0.1		2.7

Total restructuring charges		12.5		46.8
Other costs:
Accelerated depreciation/inventory write-down/other costs (cost of product sold)		-		13.8
Asset write-down/other costs (selling, general and administrative expenses)		14.1		41.5

Total other costs		14.1		55.3

Total expected costs	$	26.6	$	102.1


Total Expected Costs by Reportable Segment:
CWNA
Restructuring charges	$	5.7	$	23.0
Other costs		7.2		44.1

Total CWNA	$	12.9	$	67.1


	Fiscal
	2012		Global
	Initiative		Initiative
(in millions)
CWAE
Restructuring charges	$	-	$	19.5
Other costs		-		6.2

Total CWAE	$	-	$	25.7


Corporate Operations and Other
Restructuring charges	$	6.8	$	4.3
Other costs		6.9		5.0

Total Corporate Operations and Other	$	13.7	$	9.3

- Definition

Tabular disclosure of restructuring and related costs by type of restructuring including the description of the restructuring costs, such as the expected cost; the costs incurred during the period; the cumulative costs incurred as of the balance sheet date; the income statement caption within which the restructuring charges recognized for the period are included; and changes to an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost.

+ References + Details

- Definition

Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period.

+ References + Details