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

Comprehensive Income (Loss) Attributable to CBI (Tables)

3 Months Ended

May 31, 2022

The reconciliation of net income (loss) attributable to CBI to comprehensive income (loss) attributable to CBI is as follows:


	Before Tax Amount		Tax (Expense) Benefit		Net of Tax Amount
(in millions)
For the Three Months Ended May 31, 2022
Net income (loss) attributable to CBI					$	389.5
Other comprehensive income (loss) attributable to CBI:
Foreign currency translation adjustments:
Net gain (loss)	$	170.3	$	—	170.3
Reclassification adjustments	—		—		—
Net gain (loss) recognized in other comprehensive income (loss)	170.3		—		170.3
Unrealized gain (loss) on cash flow hedges:
Net derivative gain (loss)	105.5		(14.8)		90.7
Reclassification adjustments	(10.0)		0.9		(9.1)
Net gain (loss) recognized in other comprehensive income (loss)	95.5		(13.9)		81.6




Pension/postretirement adjustments:
Net actuarial gain (loss)	(0.3)		—		(0.3)
Reclassification adjustments	—		—		—
Net gain (loss) recognized in other comprehensive income (loss)	(0.3)		—		(0.3)


	Before Tax Amount		Tax (Expense) Benefit		Net of Tax Amount
(in millions)
Share of OCI of equity method investments
Net gain (loss)	(9.0)		3.8		(5.2)
Reclassification adjustments	—		—		—
Net gain (loss) recognized in other comprehensive income (loss)	(9.0)		3.8		(5.2)
Other comprehensive income (loss) attributable to CBI	$	256.5	$	(10.1)	246.4
Comprehensive income (loss) attributable to CBI					$	635.9

For the Three Months Ended May 31, 2021
Net income (loss) attributable to CBI					$	(908.1)
Other comprehensive income (loss) attributable to CBI:
Foreign currency translation adjustments:
Net gain (loss)	$	103.0	$	—	103.0
Reclassification adjustments	—		—		—
Net gain (loss) recognized in other comprehensive income (loss)	103.0		—		103.0
Unrealized gain (loss) on cash flow hedges:
Net derivative gain (loss)	27.5		(9.8)		17.7
Reclassification adjustments	(7.8)		0.2		(7.6)
Net gain (loss) recognized in other comprehensive income (loss)	19.7		(9.6)		10.1




Pension/postretirement adjustments:
Net actuarial gain (loss)	(0.2)		—		(0.2)
Reclassification adjustments	—		—		—
Net gain (loss) recognized in other comprehensive income (loss)	(0.2)		—		(0.2)
Share of OCI of equity method investments
Net gain (loss)	(18.1)		4.1		(14.0)
Reclassification adjustments	—		—		—
Net gain (loss) recognized in other comprehensive income (loss)	(18.1)		4.1		(14.0)
Other comprehensive income (loss) attributable to CBI	$	104.4	$	(5.5)	98.9
Comprehensive income (loss) attributable to CBI					$	(809.2)

AOCI, net of income tax effect, includes the following components:


	Foreign Currency Translation Adjustments		Unrealized Net Gain (Loss) on Derivative Instruments		Pension/ Postretirement Adjustments		Share of OCI of Equity Method Investments		AOCI
(in millions)
Balance, February 28, 2022	$	(431.4)	$	17.5	$	(4.0)	$	5.2	$	(412.7)
OCI:
OCI before reclassification adjustments	170.3		90.7		(0.3)		(5.2)		255.5
Amounts reclassified from AOCI	—		(9.1)		—		—		(9.1)
OCI	170.3		81.6		(0.3)		(5.2)		246.4
Balance, May 31, 2022	$	(261.1)	$	99.1	$	(4.3)	$	—	$	(166.3)