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)

3 Months Ended

May 31, 2013

Restructuring and Related Activities [Abstract]

The following table presents a rollforward of the restructuring liability for the Company’s remaining restructuring plans.



(in millions)
Restructuring liability, February 28, 2013	$	5.6

Restructuring charges:
Employee termination benefit costs	—
Contract termination costs	(0.9		)
Facility consolidation/relocation costs	—
Restructuring charges, May 31, 2013	(0.9		)

Cash expenditures	(1.7		)

Foreign currency translation and other noncash adjustments	—
Restructuring liability, May 31, 2013	$	3.0

Summary of restructuring charges and other costs incurred

The following table presents a summary of restructuring charges and other costs incurred, including a summary of amounts incurred by each of the Company’s reportable segments, in connection with the Company’s remaining restructuring plans.



	For the Three Months Ended May 31,
	2013			2012
(in millions)
Restructuring charges	$	(0.9	)	$	0.5
Other costs:
Accelerated depreciation (cost of product sold)	—			—
Other costs (selling, general and administrative expenses)	(2.0		)	2.7
Total other costs	(2.0		)	2.7
Total costs	$	(2.9	)	$	3.2

Total Costs by Reportable Segment:
Constellation Wine and Spirits
Restructuring charges	$	(0.7	)	$	0.7
Other costs	—			1.6
Total Constellation Wine and Spirits	$	(0.7	)	$	2.3

Corporate Operations and Other
Restructuring charges	$	(0.2	)	$	(0.2	)
Other costs	(2.0		)	1.1
Total Corporate Operations and Other	$	(2.2	)	$	0.9

The following table presents a summary of restructuring charges and other costs incurred since inception for the Company’s remaining restructuring plans. The Company does not expect to incur any additional costs associated with these restructuring plans.



(in millions)
Costs Incurred to Date
Restructuring charges:
Employee termination benefit costs	$	56.6
Contract termination costs	13.2
Facility consolidation/relocation costs	4.0
Total restructuring charges	73.8
Other costs:
Accelerated depreciation, inventory write-down and/or other costs (cost of product sold)	31.8
Asset write-down, other costs and/or acquisition-related integration costs (selling, general and administrative expenses)	71.8
Asset impairment (impairment of intangible assets)	7.4
Total other costs	111.0
Total costs incurred to date	$	184.8

Total Costs Incurred to Date by Reportable Segment:
Constellation Wine and Spirits
Restructuring charges	$	43.0
Other costs	88.5
Total Constellation Wine and Spirits	$	131.5

CWAE
Restructuring charges	$	23.6
Other costs	13.3
Total CWAE	$	36.9

Corporate Operations and Other
Restructuring charges	$	7.2
Other costs	9.2
Total Corporate Operations and Other	$	16.4

- 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