| Condensed Consolidating Balance Sheet |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Balance Sheet at August 31, 2013 |
Current assets: |
|
|
|
|
|
|
|
|
|
Cash and cash investments |
$ |
7.4 |
|
|
$ |
1.3 |
|
|
$ |
108.1 |
|
|
$ |
— |
|
|
$ |
116.8 |
|
Accounts receivable, net |
0.2 |
|
|
191.1 |
|
|
464.6 |
|
|
— |
|
|
655.9 |
|
Inventories |
156.2 |
|
|
1,129.1 |
|
|
396.3 |
|
|
(38.6 |
) |
|
1,643.0 |
|
Prepaid expenses and other |
35.7 |
|
|
86.3 |
|
|
492.8 |
|
|
(360.4 |
) |
|
254.4 |
|
Intercompany receivable |
8,983.0 |
|
|
10,702.0 |
|
|
2,668.2 |
|
|
(22,353.2 |
) |
|
— |
|
Total current assets |
9,182.5 |
|
|
12,109.8 |
|
|
4,130.0 |
|
|
(22,752.2 |
) |
|
2,670.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Property, plant and equipment, net |
40.7 |
|
|
839.4 |
|
|
990.3 |
|
|
— |
|
|
1,870.4 |
|
Investments in subsidiaries |
10,207.1 |
|
|
2.8 |
|
|
— |
|
|
(10,209.9 |
) |
|
— |
|
Goodwill |
— |
|
|
5,504.8 |
|
|
634.4 |
|
|
— |
|
|
6,139.2 |
|
Intangible assets, net |
— |
|
|
711.7 |
|
|
2,532.2 |
|
|
— |
|
|
3,243.9 |
|
Intercompany notes receivable |
3,616.3 |
|
|
36.7 |
|
|
32.6 |
|
|
(3,685.6 |
) |
|
— |
|
Other assets, net |
60.6 |
|
|
76.1 |
|
|
70.9 |
|
|
(8.4 |
) |
|
199.2 |
|
Total assets |
$ |
23,107.2 |
|
|
$ |
19,281.3 |
|
|
$ |
8,390.4 |
|
|
$ |
(36,656.1 |
) |
|
$ |
14,122.8 |
|
|
|
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
|
Notes payable to banks |
$ |
78.0 |
|
|
$ |
— |
|
|
$ |
194.1 |
|
|
$ |
— |
|
|
$ |
272.1 |
|
Current maturities of long-term debt |
62.7 |
|
|
18.0 |
|
|
35.0 |
|
|
— |
|
|
115.7 |
|
Accounts payable |
26.7 |
|
|
172.8 |
|
|
141.7 |
|
|
— |
|
|
341.2 |
|
Accrued excise taxes |
10.3 |
|
|
12.9 |
|
|
4.4 |
|
|
— |
|
|
27.6 |
|
Intercompany payable |
12,474.3 |
|
|
7,276.1 |
|
|
2,602.8 |
|
|
(22,353.2 |
) |
|
— |
|
Other accrued expenses and liabilities |
495.7 |
|
|
246.3 |
|
|
683.3 |
|
|
(371.3 |
) |
|
1,054.0 |
|
Total current liabilities |
13,147.7 |
|
|
7,726.1 |
|
|
3,661.3 |
|
|
(22,724.5 |
) |
|
1,810.6 |
|
Long-term debt, less current maturities |
5,422.1 |
|
|
25.4 |
|
|
1,465.2 |
|
|
— |
|
|
6,912.7 |
|
Deferred income taxes |
6.5 |
|
|
551.0 |
|
|
147.7 |
|
|
(8.4 |
) |
|
696.8 |
|
Intercompany notes payable |
— |
|
|
3,668.1 |
|
|
17.5 |
|
|
(3,685.6 |
) |
|
— |
|
Other liabilities |
20.5 |
|
|
54.2 |
|
|
117.6 |
|
|
— |
|
|
192.3 |
|
Stockholders’ equity |
4,510.4 |
|
|
7,256.5 |
|
|
2,981.1 |
|
|
(10,237.6 |
) |
|
4,510.4 |
|
Total liabilities and stockholders’ equity |
$ |
23,107.2 |
|
|
$ |
19,281.3 |
|
|
$ |
8,390.4 |
|
|
$ |
(36,656.1 |
) |
|
$ |
14,122.8 |
|
|
|
|
|
|
|
|
|
|
|
Condensed Consolidating Balance Sheet at February 28, 2013 |
Current assets: |
|
|
|
|
|
|
|
|
|
Cash and cash investments |
$ |
185.8 |
|
|
$ |
0.7 |
|
|
$ |
145.0 |
|
|
$ |
— |
|
|
$ |
331.5 |
|
Accounts receivable, net |
0.7 |
|
|
10.1 |
|
|
461.1 |
|
|
— |
|
|
471.9 |
|
Inventories |
151.5 |
|
|
1,019.4 |
|
|
317.2 |
|
|
(7.2 |
) |
|
1,480.9 |
|
Prepaid expenses and other |
25.8 |
|
|
54.5 |
|
|
447.8 |
|
|
(341.2 |
) |
|
186.9 |
|
Intercompany receivable |
6,956.2 |
|
|
9,291.4 |
|
|
1,075.1 |
|
|
(17,322.7 |
) |
|
— |
|
Total current assets |
7,320.0 |
|
|
10,376.1 |
|
|
2,446.2 |
|
|
(17,671.1 |
) |
|
2,471.2 |
|
Property, plant and equipment, net |
43.3 |
|
|
832.7 |
|
|
353.0 |
|
|
— |
|
|
1,229.0 |
|
Investments in subsidiaries |
7,281.5 |
|
|
2.8 |
|
|
— |
|
|
(7,284.3 |
) |
|
— |
|
Goodwill |
— |
|
|
2,097.9 |
|
|
624.4 |
|
|
— |
|
|
2,722.3 |
|
Intangible assets, net |
— |
|
|
686.5 |
|
|
184.9 |
|
|
— |
|
|
871.4 |
|
Intercompany notes receivable |
1,611.2 |
|
|
— |
|
|
32.6 |
|
|
(1,643.8 |
) |
|
— |
|
Other assets, net |
49.8 |
|
|
256.7 |
|
|
58.6 |
|
|
(20.9 |
) |
|
344.2 |
|
Total assets |
$ |
16,305.8 |
|
|
$ |
14,252.7 |
|
|
$ |
3,699.7 |
|
|
$ |
(26,620.1 |
) |
|
$ |
7,638.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
|
Notes payable to banks |
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
Current maturities of long-term debt |
9.8 |
|
|
17.7 |
|
|
0.1 |
|
|
— |
|
|
27.6 |
|
Accounts payable |
39.2 |
|
|
106.4 |
|
|
63.4 |
|
|
— |
|
|
209.0 |
|
Accrued excise taxes |
11.4 |
|
|
3.7 |
|
|
3.8 |
|
|
— |
|
|
18.9 |
|
Intercompany payable |
9,615.5 |
|
|
6,318.7 |
|
|
1,388.5 |
|
|
(17,322.7 |
) |
|
— |
|
Other accrued expenses and liabilities |
501.8 |
|
|
187.5 |
|
|
76.1 |
|
|
(343.0 |
) |
|
422.4 |
|
Total current liabilities |
10,177.7 |
|
|
6,634.0 |
|
|
1,531.9 |
|
|
(17,665.7 |
) |
|
677.9 |
|
Long-term debt, less current maturities |
3,251.0 |
|
|
26.8 |
|
|
— |
|
|
— |
|
|
3,277.8 |
|
Deferred income taxes |
— |
|
|
543.0 |
|
|
77.5 |
|
|
(20.9 |
) |
|
599.6 |
|
Intercompany notes payable |
— |
|
|
1,634.9 |
|
|
8.9 |
|
|
(1,643.8 |
) |
|
— |
|
Other liabilities |
16.8 |
|
|
72.5 |
|
|
133.2 |
|
|
— |
|
|
222.5 |
|
Stockholders’ equity |
2,860.3 |
|
|
5,341.5 |
|
|
1,948.2 |
|
|
(7,289.7 |
) |
|
2,860.3 |
|
Total liabilities and stockholders’ equity |
$ |
16,305.8 |
|
|
$ |
14,252.7 |
|
|
$ |
3,699.7 |
|
|
$ |
(26,620.1 |
) |
|
$ |
7,638.1 |
|
|
| Condensed Consolidating Statement of Comprehensive Income (Loss) [Table Text Block] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Comprehensive Income for the Six Months Ended August 31, 2013 |
Sales |
$ |
1,121.8 |
|
|
$ |
1,633.4 |
|
|
$ |
420.4 |
|
|
$ |
(796.1 |
) |
|
$ |
2,379.5 |
|
Less – excise taxes |
(153.3 |
) |
|
(59.1 |
) |
|
(33.9 |
) |
|
— |
|
|
(246.3 |
) |
Net sales |
968.5 |
|
|
1,574.3 |
|
|
386.5 |
|
|
(796.1 |
) |
|
2,133.2 |
|
Cost of product sold |
(825.0 |
) |
|
(1,092.7 |
) |
|
(138.7 |
) |
|
756.3 |
|
|
(1,300.1 |
) |
Gross profit |
143.5 |
|
|
481.6 |
|
|
247.8 |
|
|
(39.8 |
) |
|
833.1 |
|
Selling, general and administrative expenses |
(216.3 |
) |
|
(144.5 |
) |
|
(77.2 |
) |
|
8.3 |
|
|
(429.7 |
) |
Impairment of goodwill and intangible assets |
— |
|
|
— |
|
|
(300.9 |
) |
|
— |
|
|
(300.9 |
) |
Gain on remeasurement to fair value of equity method investment |
— |
|
|
1,642.0 |
|
|
— |
|
|
— |
|
|
1,642.0 |
|
Operating (loss) income |
(72.8 |
) |
|
1,979.1 |
|
|
(130.3 |
) |
|
(31.5 |
) |
|
1,744.5 |
|
Equity in earnings of equity method investees and subsidiaries |
1,720.9 |
|
|
74.1 |
|
|
0.2 |
|
|
(1,724.9 |
) |
|
70.3 |
|
Interest income |
0.1 |
|
|
— |
|
|
3.8 |
|
|
— |
|
|
3.9 |
|
Intercompany interest income |
70.7 |
|
|
77.9 |
|
|
0.8 |
|
|
(149.4 |
) |
|
— |
|
Interest expense |
(130.8 |
) |
|
(3.0 |
) |
|
(15.2 |
) |
|
— |
|
|
(149.0 |
) |
Intercompany interest expense |
(82.7 |
) |
|
(66.4 |
) |
|
(0.3 |
) |
|
149.4 |
|
|
— |
|
Loss on write-off of financing costs |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Income (loss) before income taxes |
1,505.4 |
|
|
2,061.7 |
|
|
(141.0 |
) |
|
(1,756.4 |
) |
|
1,669.7 |
|
Benefit from (provision for) income taxes |
69.5 |
|
|
(153.0 |
) |
|
(20.5 |
) |
|
9.2 |
|
|
(94.8 |
) |
Net income (loss) |
$ |
1,574.9 |
|
|
$ |
1,908.7 |
|
|
$ |
(161.5 |
) |
|
$ |
(1,747.2 |
) |
|
$ |
1,574.9 |
|
Comprehensive income (loss) |
$ |
1,507.4 |
|
|
$ |
1,915.8 |
|
|
$ |
(236.3 |
) |
|
$ |
(1,679.5 |
) |
|
$ |
1,507.4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Comprehensive Income for the Six Months Ended August 31, 2012 |
Sales |
$ |
966.6 |
|
|
$ |
800.4 |
|
|
$ |
400.2 |
|
|
$ |
(644.2 |
) |
|
$ |
1,523.0 |
|
Less – excise taxes |
(103.4 |
) |
|
(54.6 |
) |
|
(31.7 |
) |
|
— |
|
|
(189.7 |
) |
Net sales |
863.2 |
|
|
745.8 |
|
|
368.5 |
|
|
(644.2 |
) |
|
1,333.3 |
|
Cost of product sold |
(680.7 |
) |
|
(537.5 |
) |
|
(219.3 |
) |
|
639.9 |
|
|
(797.6 |
) |
Gross profit |
182.5 |
|
|
208.3 |
|
|
149.2 |
|
|
(4.3 |
) |
|
535.7 |
|
Selling, general and administrative expenses |
(166.6 |
) |
|
(52.3 |
) |
|
(85.9 |
) |
|
5.8 |
|
|
(299.0 |
) |
Impairment of goodwill and intangible assets |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Gain on remeasurement to fair value of equity method investment |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Operating income |
15.9 |
|
|
156.0 |
|
|
63.3 |
|
|
1.5 |
|
|
236.7 |
|
Equity in earnings of equity method investees and subsidiaries |
285.6 |
|
|
129.6 |
|
|
0.2 |
|
|
(284.3 |
) |
|
131.1 |
|
Interest income |
0.1 |
|
|
— |
|
|
2.8 |
|
|
— |
|
|
2.9 |
|
Intercompany interest income |
39.5 |
|
|
95.4 |
|
|
0.8 |
|
|
(135.7 |
) |
|
— |
|
Interest expense |
(106.1 |
) |
|
(0.6 |
) |
|
(1.5 |
) |
|
— |
|
|
(108.2 |
) |
Intercompany interest expense |
(95.4 |
) |
|
(40.2 |
) |
|
(0.1 |
) |
|
135.7 |
|
|
— |
|
Loss on write-off of financing costs |
(2.8 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(2.8 |
) |
Income before income taxes |
136.8 |
|
|
340.2 |
|
|
65.5 |
|
|
(282.8 |
) |
|
259.7 |
|
Benefit from (provision for) income taxes |
59.8 |
|
|
(131.0 |
) |
|
8.4 |
|
|
(0.3 |
) |
|
(63.1 |
) |
Net income |
$ |
196.6 |
|
|
$ |
209.2 |
|
|
$ |
73.9 |
|
|
$ |
(283.1 |
) |
|
$ |
196.6 |
|
Comprehensive income |
$ |
180.6 |
|
|
$ |
207.7 |
|
|
$ |
61.3 |
|
|
$ |
(269.0 |
) |
|
$ |
180.6 |
|
|
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Comprehensive Income for the Three Months Ended August 31, 2013 |
Sales |
$ |
569.3 |
|
|
$ |
1,243.1 |
|
|
$ |
206.5 |
|
|
$ |
(405.6 |
) |
|
$ |
1,613.3 |
|
Less – excise taxes |
(75.2 |
) |
|
(61.1 |
) |
|
(17.2 |
) |
|
— |
|
|
(153.5 |
) |
Net sales |
494.1 |
|
|
1,182.0 |
|
|
189.3 |
|
|
(405.6 |
) |
|
1,459.8 |
|
Cost of product sold |
(425.0 |
) |
|
(817.6 |
) |
|
(12.2 |
) |
|
372.0 |
|
|
(882.8 |
) |
Gross profit |
69.1 |
|
|
364.4 |
|
|
177.1 |
|
|
(33.6 |
) |
|
577.0 |
|
Selling, general and administrative expenses |
(97.3 |
) |
|
(115.6 |
) |
|
(35.3 |
) |
|
4.1 |
|
|
(244.1 |
) |
Impairment of goodwill and intangible assets |
— |
|
|
— |
|
|
(300.9 |
) |
|
— |
|
|
(300.9 |
) |
Gain on remeasurement to fair value of equity method investment |
— |
|
|
1,642.0 |
|
|
— |
|
|
— |
|
|
1,642.0 |
|
Operating (loss) income |
(28.2 |
) |
|
1,890.8 |
|
|
(159.1 |
) |
|
(29.5 |
) |
|
1,674.0 |
|
Equity in earnings of equity method investees and subsidiaries |
1,587.1 |
|
|
7.7 |
|
|
0.1 |
|
|
(1,591.2 |
) |
|
3.7 |
|
Interest income |
0.1 |
|
|
— |
|
|
1.9 |
|
|
— |
|
|
2.0 |
|
Intercompany interest income |
44.9 |
|
|
41.2 |
|
|
0.4 |
|
|
(86.5 |
) |
|
— |
|
Interest expense |
(77.4 |
) |
|
(0.3 |
) |
|
(14.6 |
) |
|
— |
|
|
(92.3 |
) |
Intercompany interest expense |
(43.7 |
) |
|
(42.6 |
) |
|
(0.2 |
) |
|
86.5 |
|
|
— |
|
Loss on write-off of financing costs |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Income (loss) before income taxes |
1,482.8 |
|
|
1,896.8 |
|
|
(171.5 |
) |
|
(1,620.7 |
) |
|
1,587.4 |
|
Benefit from (provision for) income taxes |
39.2 |
|
|
(91.0 |
) |
|
(22.2 |
) |
|
8.6 |
|
|
(65.4 |
) |
Net income (loss) |
$ |
1,522.0 |
|
|
$ |
1,805.8 |
|
|
$ |
(193.7 |
) |
|
$ |
(1,612.1 |
) |
|
$ |
1,522.0 |
|
Comprehensive income (loss) |
$ |
1,478.0 |
|
|
$ |
1,809.5 |
|
|
$ |
(241.7 |
) |
|
$ |
(1,567.8 |
) |
|
$ |
1,478.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Comprehensive Income for the Three Months Ended August 31, 2012 |
Sales |
$ |
511.3 |
|
|
$ |
399.3 |
|
|
$ |
206.8 |
|
|
$ |
(319.7 |
) |
|
$ |
797.7 |
|
Less – excise taxes |
(54.8 |
) |
|
(28.1 |
) |
|
(16.3 |
) |
|
— |
|
|
(99.2 |
) |
Net sales |
456.5 |
|
|
371.2 |
|
|
190.5 |
|
|
(319.7 |
) |
|
698.5 |
|
Cost of product sold |
(342.5 |
) |
|
(276.6 |
) |
|
(113.0 |
) |
|
318.7 |
|
|
(413.4 |
) |
Gross profit |
114.0 |
|
|
94.6 |
|
|
77.5 |
|
|
(1.0 |
) |
|
285.1 |
|
Selling, general and administrative expenses |
(84.2 |
) |
|
(33.2 |
) |
|
(40.2 |
) |
|
3.1 |
|
|
(154.5 |
) |
Impairment of goodwill and intangible assets |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Gain on remeasurement to fair value of equity method investment |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Operating income |
29.8 |
|
|
61.4 |
|
|
37.3 |
|
|
2.1 |
|
|
130.6 |
|
Equity in earnings of equity method investees and subsidiaries |
146.9 |
|
|
72.2 |
|
|
0.1 |
|
|
(148.7 |
) |
|
70.5 |
|
Interest income |
0.1 |
|
|
— |
|
|
1.4 |
|
|
— |
|
|
1.5 |
|
Intercompany interest income |
19.8 |
|
|
49.0 |
|
|
0.4 |
|
|
(69.2 |
) |
|
— |
|
Interest expense |
(55.4 |
) |
|
— |
|
|
(0.7 |
) |
|
— |
|
|
(56.1 |
) |
Intercompany interest expense |
(49.1 |
) |
|
(20.1 |
) |
|
— |
|
|
69.2 |
|
|
— |
|
Loss on write-off of financing costs |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Income before income taxes |
92.1 |
|
|
162.5 |
|
|
38.5 |
|
|
(146.6 |
) |
|
146.5 |
|
Benefit from (provision for) income taxes |
32.5 |
|
|
(62.0 |
) |
|
7.8 |
|
|
(0.2 |
) |
|
(21.9 |
) |
Net income |
$ |
124.6 |
|
|
$ |
100.5 |
|
|
$ |
46.3 |
|
|
$ |
(146.8 |
) |
|
$ |
124.6 |
|
Comprehensive income |
$ |
199.2 |
|
|
$ |
106.8 |
|
|
$ |
123.3 |
|
|
$ |
(230.1 |
) |
|
$ |
199.2 |
|
|
| Condensed Consolidating Statement of Cash Flows |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Cash Flows for the Six Months Ended August 31, 2013 |
Net cash provided by (used in) operating activities |
$ |
1,551.1 |
|
|
$ |
(1,200.3 |
) |
|
$ |
138.2 |
|
|
$ |
— |
|
|
$ |
489.0 |
|
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
|
Purchase of business, net of cash acquired |
— |
|
|
(1,770.1 |
) |
|
(2,902.8 |
) |
|
— |
|
|
(4,672.9 |
) |
Purchases of property, plant and equipment |
(5.0 |
) |
|
(33.1 |
) |
|
(11.1 |
) |
|
— |
|
|
(49.2 |
) |
Proceeds from sales of assets |
— |
|
|
0.2 |
|
|
1.4 |
|
|
— |
|
|
1.6 |
|
Proceeds from notes receivable |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Other investing activities |
— |
|
|
2.3 |
|
|
(1.2 |
) |
|
— |
|
|
1.1 |
|
Net cash used in investing activities |
(5.0 |
) |
|
(1,800.7 |
) |
|
(2,913.7 |
) |
|
— |
|
|
(4,719.4 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
|
Intercompany financings, net |
(4,089.4 |
) |
|
3,025.6 |
|
|
1,063.8 |
|
|
— |
|
|
— |
|
Proceeds from issuance of long-term debt |
2,225.0 |
|
|
— |
|
|
1,500.0 |
|
|
— |
|
|
3,725.0 |
|
Net proceeds from notes payable |
78.0 |
|
|
— |
|
|
194.1 |
|
|
— |
|
|
272.1 |
|
Proceeds from exercises of employee stock options |
77.5 |
|
|
— |
|
|
— |
|
|
— |
|
|
77.5 |
|
Excess tax benefits from stock-based payment awards |
53.8 |
|
|
— |
|
|
— |
|
|
— |
|
|
53.8 |
|
Proceeds from employee stock purchases |
2.5 |
|
|
— |
|
|
— |
|
|
— |
|
|
2.5 |
|
Payment of financing costs of long-term debt |
(69.6 |
) |
|
— |
|
|
(12.6 |
) |
|
— |
|
|
(82.2 |
) |
Payment of minimum tax withholdings on stock-based payment awards |
— |
|
|
(16.4 |
) |
|
(1.6 |
) |
|
— |
|
|
(18.0 |
) |
Principal payments of long-term debt |
(2.3 |
) |
|
(7.6 |
) |
|
— |
|
|
— |
|
|
(9.9 |
) |
Payment of restricted cash upon issuance of long-term debt |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Purchases of treasury stock |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Net cash (used in) provided by financing activities |
(1,724.5 |
) |
|
3,001.6 |
|
|
2,743.7 |
|
|
— |
|
|
4,020.8 |
|
|
|
|
|
|
|
|
|
|
|
Effect of exchange rate changes on cash and cash investments |
— |
|
|
— |
|
|
(5.1 |
) |
|
— |
|
|
(5.1 |
) |
|
|
|
|
|
|
|
|
|
|
Net (decrease) increase in cash and cash investments |
(178.4 |
) |
|
0.6 |
|
|
(36.9 |
) |
|
— |
|
|
(214.7 |
) |
Cash and cash investments, beginning of period |
185.8 |
|
|
0.7 |
|
|
145.0 |
|
|
— |
|
|
331.5 |
|
Cash and cash investments, end of period |
$ |
7.4 |
|
|
$ |
1.3 |
|
|
$ |
108.1 |
|
|
$ |
— |
|
|
$ |
116.8 |
|
|
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Cash Flows for the Six Months Ended August 31, 2012 |
Net cash provided by operating activities |
$ |
209.8 |
|
|
$ |
142.6 |
|
|
$ |
16.1 |
|
|
$ |
— |
|
|
$ |
368.5 |
|
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
|
Purchase of business, net of cash acquired |
— |
|
|
(159.7 |
) |
|
— |
|
|
— |
|
|
(159.7 |
) |
Purchases of property, plant and equipment |
(7.9 |
) |
|
(21.1 |
) |
|
(6.6 |
) |
|
— |
|
|
(35.6 |
) |
Proceeds from sales of assets |
— |
|
|
4.9 |
|
|
3.0 |
|
|
— |
|
|
7.9 |
|
Proceeds from notes receivable |
1.2 |
|
|
3.4 |
|
|
— |
|
|
— |
|
|
4.6 |
|
Other investing activities |
(0.3 |
) |
|
(0.8 |
) |
|
(0.1 |
) |
|
— |
|
|
(1.2 |
) |
Net cash used in investing activities |
(7.0 |
) |
|
(173.3 |
) |
|
(3.7 |
) |
|
— |
|
|
(184.0 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
|
Intercompany financings, net |
(77.4 |
) |
|
33.7 |
|
|
43.7 |
|
|
— |
|
|
— |
|
Proceeds from issuance of long-term debt |
2,050.0 |
|
|
— |
|
|
— |
|
|
— |
|
|
2,050.0 |
|
Net repayment of notes payable |
(298.0 |
) |
|
— |
|
|
(60.3 |
) |
|
— |
|
|
(358.3 |
) |
Proceeds from exercises of employee stock options |
110.5 |
|
|
— |
|
|
— |
|
|
— |
|
|
110.5 |
|
Excess tax benefits from stock-based payment awards |
11.4 |
|
|
— |
|
|
— |
|
|
— |
|
|
11.4 |
|
Proceeds from employee stock purchases |
2.1 |
|
|
— |
|
|
— |
|
|
— |
|
|
2.1 |
|
Payment of financing costs of long-term debt |
(34.1 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(34.1 |
) |
Payment of minimum tax withholdings on stock-based payment awards |
— |
|
|
— |
|
|
(0.5 |
) |
|
— |
|
|
(0.5 |
) |
Principal payments of long-term debt |
(835.2 |
) |
|
(2.8 |
) |
|
— |
|
|
— |
|
|
(838.0 |
) |
Payment of restricted cash upon issuance of long-term debt |
(650.0 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(650.0 |
) |
Purchases of treasury stock |
(383.0 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(383.0 |
) |
Net cash (used in) provided by financing activities |
(103.7 |
) |
|
30.9 |
|
|
(17.1 |
) |
|
— |
|
|
(89.9 |
) |
|
|
|
|
|
|
|
|
|
|
|
Effect of exchange rate changes on cash
and cash investments
|
— |
|
|
— |
|
|
(1.9 |
) |
|
— |
|
|
(1.9 |
) |
|
|
|
|
|
|
|
|
|
|
Net increase (decrease) in cash and cash investments |
99.1 |
|
|
0.2 |
|
|
(6.6 |
) |
|
— |
|
|
92.7 |
|
|
Cash and cash investments, beginning
of period
|
0.5 |
|
|
0.6 |
|
|
84.7 |
|
|
— |
|
|
85.8 |
|
|
Cash and cash investments, end of
period
|
$ |
99.6 |
|
|
$ |
0.8 |
|
|
$ |
78.1 |
|
|
$ |
— |
|
|
$ |
178.5 |
|
|