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Income Taxes
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9 Months Ended |
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Nov. 30, 2013
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| Income Tax Disclosure [Abstract] | |
| INCOME TAXES |
INCOME TAXES:
The Company’s effective tax rate for the nine months ended November 30, 2013, and November 30, 2012, was 9.0% and 25.3%, respectively. The Company’s effective tax rate for the nine months ended November 30, 2013, was favorably impacted by the Beer Business Acquisition, primarily attributable to the recognition of the nontaxable gain on the remeasurement to fair value of the Company’s preexisting 50% equity interest in Crown Imports of $1,642.0 million, partially offset by the write-off of nondeductible goodwill of $278.7 million. The Company’s effective tax rate for the nine months ended November 30, 2012, was substantially impacted by the benefit from additional foreign tax credits.
The Company’s effective tax rate for the three months ended November 30, 2013, and November 30, 2012, was 27.8% and 27.0%, respectively. The Company’s effective tax rate for the three months ended November 30, 2013, and November 30, 2012, were both favorably impacted by the benefit from additional foreign tax credits.
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- Details
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- Definition
The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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