Quarterly report pursuant to Section 13 or 15(d)

Acquisition (Tables)

v2.4.0.8
Acquisition (Tables)
 6 Months Ended
Aug. 31, 2013
Business Combinations [Abstract]  
Allocation of estimated fair value to assets acquired and liabilities assumed
The following table summarizes the allocation of the estimated fair value of the Beer Business Acquisition to the separately identifiable assets acquired and liabilities assumed as of June 7, 2013:
(in millions)
 
Cash
$
106.8

Accounts receivable
193.7

Inventories
243.1

Prepaid expenses and other
103.9

Property, plant and equipment
698.9

Goodwill
3,715.8

Intangible assets
2,403.2

Other assets
0.3

Total assets acquired
7,465.7

Accounts payable
123.2

Accrued excise taxes
14.4

Other accrued expenses and liabilities
72.9

Deferred income taxes
66.4

Other liabilities
10.6

Total liabilities assumed
287.5

Total estimated fair value
7,178.2

Less – fair value of the Company’s preexisting 50% equity interest in Crown Imports
(1,845.0
)
Less – cash acquired
(106.8
)
Estimated aggregate purchase price
$
5,226.4


Unaudited pro forma financial information
The unaudited pro forma financial information is based upon currently available information and upon certain assumptions that the Company believes are reasonable under the circumstances. The unaudited pro forma financial information does not purport to present what the Company’s results of operations would actually have been if the aforementioned transaction had in fact occurred on such date or at the beginning of the period indicated, nor does it project the Company’s financial position or results of operations at any future date or for any future period.
 
For the Six Months
Ended August 31,
 
For the Three Months
Ended August 31,
 
2013
 
2012
 
2013
 
2012
(in millions, except per share data)
 
 
 
 
 
 
 
Net sales
$
2,750.6

 
$
2,643.4

 
$
1,511.6

 
$
1,465.8

Income (loss) before income taxes
$
156.5

 
$
450.4

 
$
(47.4
)
 
$
260.4

Net income (loss)
$
18.3

 
$
329.9

 
$
(115.3
)
 
$
204.0

 
 
 
 
 
 
 
 
Earnings (loss) per common share:
 
 
 
 
 
 
 
Basic – Class A Common Stock
$
0.10

 
$
1.83

 
$
(0.62
)
 
$
1.16

Basic – Class B Convertible Common Stock
$
0.09

 
$
1.67

 
$
(0.56
)
 
$
1.05

 
 
 
 
 
 
 
 
Diluted – Class A Common Stock
$
0.09

 
$
1.76

 
$
(0.62
)
 
$
1.10

Diluted – Class B Convertible Common Stock
$
0.09

 
$
1.62

 
$
(0.56
)
 
$
1.02

 
 
 
 
 
 
 
 
Weighted average common shares outstanding:
 
 
 
 
 
 
 
Basic – Class A Common Stock
163.277

 
158.527

 
164.825

 
154.794

Basic – Class B Convertible Common Stock
23.485

 
23.545

 
23.472

 
23.536

 
 
 
 
 
 
 
 
Diluted – Class A Common Stock
196.056

 
187.458

 
196.767

 
184.640

Diluted – Class B Convertible Common Stock
23.485

 
23.545

 
23.472

 
23.536