| Condensed Consolidating Balance Sheet |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Balance Sheet at February 28, 2014 |
Current assets: |
|
|
|
|
|
|
|
|
|
Cash and cash investments |
$ |
0.5 |
|
|
$ |
0.8 |
|
|
$ |
62.6 |
|
|
$ |
— |
|
|
$ |
63.9 |
|
Accounts receivable, net |
0.2 |
|
|
9.0 |
|
|
617.0 |
|
|
— |
|
|
626.2 |
|
Inventories |
153.5 |
|
|
1,270.0 |
|
|
384.8 |
|
|
(64.5 |
) |
|
1,743.8 |
|
Intercompany receivable |
8,529.4 |
|
|
13,339.0 |
|
|
4,104.0 |
|
|
(25,972.4 |
) |
|
— |
|
Prepaid expenses and other |
49.1 |
|
|
61.6 |
|
|
701.6 |
|
|
(499.0 |
) |
|
313.3 |
|
Total current assets |
8,732.7 |
|
|
14,680.4 |
|
|
5,870.0 |
|
|
(26,535.9 |
) |
|
2,747.2 |
|
Property, plant and equipment, net |
39.4 |
|
|
846.3 |
|
|
1,128.6 |
|
|
— |
|
|
2,014.3 |
|
Investments in subsidiaries |
10,795.6 |
|
|
9.4 |
|
|
— |
|
|
(10,805.0 |
) |
|
— |
|
Goodwill |
— |
|
|
5,411.3 |
|
|
735.5 |
|
|
— |
|
|
6,146.8 |
|
Intangible assets, net |
— |
|
|
707.6 |
|
|
2,523.0 |
|
|
0.5 |
|
|
3,231.1 |
|
Intercompany notes receivable |
3,606.0 |
|
|
8.5 |
|
|
— |
|
|
(3,614.5 |
) |
|
— |
|
Other assets, net |
62.4 |
|
|
64.6 |
|
|
35.7 |
|
|
— |
|
|
162.7 |
|
Total assets |
$ |
23,236.1 |
|
|
$ |
21,728.1 |
|
|
$ |
10,292.8 |
|
|
$ |
(40,954.9 |
) |
|
$ |
14,302.1 |
|
|
|
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
|
Notes payable to banks |
$ |
— |
|
|
$ |
— |
|
|
$ |
57.2 |
|
|
$ |
— |
|
|
$ |
57.2 |
|
Current maturities of long-term debt |
547.1 |
|
|
16.4 |
|
|
26.5 |
|
|
— |
|
|
590.0 |
|
Accounts payable |
24.4 |
|
|
109.0 |
|
|
161.8 |
|
|
— |
|
|
295.2 |
|
Accrued excise taxes |
13.7 |
|
|
8.5 |
|
|
5.5 |
|
|
— |
|
|
27.7 |
|
Intercompany payable |
11,996.5 |
|
|
9,700.4 |
|
|
4,275.5 |
|
|
(25,972.4 |
) |
|
— |
|
Other accrued expenses and liabilities |
712.9 |
|
|
182.3 |
|
|
680.7 |
|
|
(520.3 |
) |
|
1,055.6 |
|
Total current liabilities |
13,294.6 |
|
|
10,016.6 |
|
|
5,207.2 |
|
|
(26,492.7 |
) |
|
2,025.7 |
|
Long-term debt, less current maturities |
4,892.3 |
|
|
32.8 |
|
|
1,448.2 |
|
|
— |
|
|
6,373.3 |
|
Deferred income taxes |
17.2 |
|
|
569.4 |
|
|
176.0 |
|
|
— |
|
|
762.6 |
|
Intercompany notes payable |
— |
|
|
3,597.7 |
|
|
16.8 |
|
|
(3,614.5 |
) |
|
— |
|
Other liabilities |
50.7 |
|
|
21.5 |
|
|
87.0 |
|
|
— |
|
|
159.2 |
|
Stockholders’ equity |
4,981.3 |
|
|
7,490.1 |
|
|
3,357.6 |
|
|
(10,847.7 |
) |
|
4,981.3 |
|
Total liabilities and stockholders’ equity |
$ |
23,236.1 |
|
|
$ |
21,728.1 |
|
|
$ |
10,292.8 |
|
|
$ |
(40,954.9 |
) |
|
$ |
14,302.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
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 |
|
Intercompany receivable |
4,598.2 |
|
|
9,291.4 |
|
|
1,075.1 |
|
|
(14,964.7 |
) |
|
— |
|
Prepaid expenses and other |
33.9 |
|
|
46.4 |
|
|
447.8 |
|
|
(341.2 |
) |
|
186.9 |
|
Total current assets |
4,970.1 |
|
|
10,368.0 |
|
|
2,446.2 |
|
|
(15,313.1 |
) |
|
2,471.2 |
|
Property, plant and equipment, net |
43.3 |
|
|
832.7 |
|
|
353.0 |
|
|
— |
|
|
1,229.0 |
|
Investments in subsidiaries |
7,307.0 |
|
|
2.8 |
|
|
— |
|
|
(7,309.8 |
) |
|
— |
|
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 |
63.3 |
|
|
243.2 |
|
|
58.6 |
|
|
(20.9 |
) |
|
344.2 |
|
Total assets |
$ |
13,994.9 |
|
|
$ |
14,231.1 |
|
|
$ |
3,699.7 |
|
|
$ |
(24,287.6 |
) |
|
$ |
7,638.1 |
|
|
|
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
|
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 |
7,257.5 |
|
|
6,318.7 |
|
|
1,388.5 |
|
|
(14,964.7 |
) |
|
— |
|
Other accrued expenses and liabilities |
518.2 |
|
|
171.1 |
|
|
76.1 |
|
|
(343.0 |
) |
|
422.4 |
|
Total current liabilities |
7,836.1 |
|
|
6,617.6 |
|
|
1,531.9 |
|
|
(15,307.7 |
) |
|
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 |
47.5 |
|
|
41.8 |
|
|
133.2 |
|
|
— |
|
|
222.5 |
|
Stockholders’ equity |
2,860.3 |
|
|
5,367.0 |
|
|
1,948.2 |
|
|
(7,315.2 |
) |
|
2,860.3 |
|
Total liabilities and stockholders’ equity |
$ |
13,994.9 |
|
|
$ |
14,231.1 |
|
|
$ |
3,699.7 |
|
|
$ |
(24,287.6 |
) |
|
$ |
7,638.1 |
|
|
| Condensed Consolidating Statement of Comprehensive Income (Loss) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Comprehensive Income for the Year Ended February 28, 2014 |
Sales |
$ |
2,351.8 |
|
|
$ |
3,868.3 |
|
|
$ |
2,093.9 |
|
|
$ |
(2,903.0 |
) |
|
$ |
5,411.0 |
|
Less – excise taxes |
(317.3 |
) |
|
(155.9 |
) |
|
(70.1 |
) |
|
— |
|
|
(543.3 |
) |
Net sales |
2,034.5 |
|
|
3,712.4 |
|
|
2,023.8 |
|
|
(2,903.0 |
) |
|
4,867.7 |
|
Cost of product sold |
(1,730.3 |
) |
|
(2,661.6 |
) |
|
(1,312.1 |
) |
|
2,828.0 |
|
|
(2,876.0 |
) |
Gross profit |
304.2 |
|
|
1,050.8 |
|
|
711.7 |
|
|
(75.0 |
) |
|
1,991.7 |
|
Selling, general and administrative expenses |
(395.4 |
) |
|
(361.7 |
) |
|
(155.0 |
) |
|
17.0 |
|
|
(895.1 |
) |
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 |
(91.2 |
) |
|
2,331.1 |
|
|
255.8 |
|
|
(58.0 |
) |
|
2,437.7 |
|
Equity in earnings of equity method investees and subsidiaries |
2,219.2 |
|
|
92.7 |
|
|
0.6 |
|
|
(2,224.7 |
) |
|
87.8 |
|
Interest income |
0.1 |
|
|
— |
|
|
7.6 |
|
|
— |
|
|
7.7 |
|
Intercompany interest income |
152.4 |
|
|
168.5 |
|
|
1.5 |
|
|
(322.4 |
) |
|
— |
|
Interest expense |
(283.2 |
) |
|
(2.5 |
) |
|
(45.2 |
) |
|
— |
|
|
(330.9 |
) |
Intercompany interest expense |
(168.1 |
) |
|
(153.6 |
) |
|
(0.7 |
) |
|
322.4 |
|
|
— |
|
Income before income taxes |
1,829.2 |
|
|
2,436.2 |
|
|
219.6 |
|
|
(2,282.7 |
) |
|
2,202.3 |
|
Benefit from (provision for) income taxes |
113.9 |
|
|
(292.5 |
) |
|
(100.1 |
) |
|
19.5 |
|
|
(259.2 |
) |
Net income |
$ |
1,943.1 |
|
|
$ |
2,143.7 |
|
|
$ |
119.5 |
|
|
$ |
(2,263.2 |
) |
|
$ |
1,943.1 |
|
Comprehensive income |
$ |
1,897.0 |
|
|
$ |
2,167.7 |
|
|
$ |
64.0 |
|
|
$ |
(2,231.7 |
) |
|
$ |
1,897.0 |
|
|
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Comprehensive Income for the Year Ended February 28, 2013 |
Sales |
$ |
2,065.4 |
|
|
$ |
1,758.6 |
|
|
$ |
827.8 |
|
|
$ |
(1,480.4 |
) |
|
$ |
3,171.4 |
|
Less – excise taxes |
(213.0 |
) |
|
(95.9 |
) |
|
(66.4 |
) |
|
— |
|
|
(375.3 |
) |
Net sales |
1,852.4 |
|
|
1,662.7 |
|
|
761.4 |
|
|
(1,480.4 |
) |
|
2,796.1 |
|
Cost of product sold |
(1,537.2 |
) |
|
(1,156.6 |
) |
|
(460.8 |
) |
|
1,466.8 |
|
|
(1,687.8 |
) |
Gross profit |
315.2 |
|
|
506.1 |
|
|
300.6 |
|
|
(13.6 |
) |
|
1,108.3 |
|
Selling, general and administrative expenses |
(344.1 |
) |
|
(101.4 |
) |
|
(154.3 |
) |
|
14.4 |
|
|
(585.4 |
) |
Operating (loss) income |
(28.9 |
) |
|
404.7 |
|
|
146.3 |
|
|
0.8 |
|
|
522.9 |
|
Equity in earnings of equity method investees and subsidiaries |
622.2 |
|
|
232.9 |
|
|
0.5 |
|
|
(622.5 |
) |
|
233.1 |
|
Interest income |
0.6 |
|
|
— |
|
|
6.2 |
|
|
— |
|
|
6.8 |
|
Intercompany interest income |
79.0 |
|
|
193.2 |
|
|
1.5 |
|
|
(273.7 |
) |
|
— |
|
Interest expense |
(230.1 |
) |
|
(1.4 |
) |
|
(2.4 |
) |
|
— |
|
|
(233.9 |
) |
Intercompany interest expense |
(193.2 |
) |
|
(80.2 |
) |
|
(0.3 |
) |
|
273.7 |
|
|
— |
|
Loss on write-off of financing costs |
(12.5 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(12.5 |
) |
Income before income taxes |
237.1 |
|
|
749.2 |
|
|
151.8 |
|
|
(621.7 |
) |
|
516.4 |
|
Benefit from (provision for) income taxes |
150.7 |
|
|
(274.7 |
) |
|
(4.5 |
) |
|
(0.1 |
) |
|
(128.6 |
) |
Net income |
$ |
387.8 |
|
|
$ |
474.5 |
|
|
$ |
147.3 |
|
|
$ |
(621.8 |
) |
|
$ |
387.8 |
|
Comprehensive income |
$ |
346.2 |
|
|
$ |
439.5 |
|
|
$ |
103.5 |
|
|
$ |
(543.0 |
) |
|
$ |
346.2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Comprehensive Income for the Year Ended February 29, 2012 |
Sales |
$ |
1,319.1 |
|
|
$ |
1,721.4 |
|
|
$ |
712.0 |
|
|
$ |
(773.4 |
) |
|
$ |
2,979.1 |
|
Less – excise taxes |
(169.2 |
) |
|
(93.5 |
) |
|
(62.1 |
) |
|
— |
|
|
(324.8 |
) |
Net sales |
1,149.9 |
|
|
1,627.9 |
|
|
649.9 |
|
|
(773.4 |
) |
|
2,654.3 |
|
Cost of product sold |
(864.3 |
) |
|
(1,063.2 |
) |
|
(389.6 |
) |
|
724.9 |
|
|
(1,592.2 |
) |
Gross profit |
285.6 |
|
|
564.7 |
|
|
260.3 |
|
|
(48.5 |
) |
|
1,062.1 |
|
Selling, general and administrative expenses |
(237.3 |
) |
|
(187.8 |
) |
|
(161.0 |
) |
|
48.6 |
|
|
(537.5 |
) |
Impairment of goodwill and intangible assets |
— |
|
|
— |
|
|
(38.1 |
) |
|
— |
|
|
(38.1 |
) |
Operating income |
48.3 |
|
|
376.9 |
|
|
61.2 |
|
|
0.1 |
|
|
486.5 |
|
Equity in earnings of equity method investees and subsidiaries |
590.5 |
|
|
240.3 |
|
|
4.3 |
|
|
(606.6 |
) |
|
228.5 |
|
Interest income |
0.2 |
|
|
— |
|
|
6.4 |
|
|
— |
|
|
6.6 |
|
Intercompany interest income |
78.2 |
|
|
125.5 |
|
|
1.4 |
|
|
(205.1 |
) |
|
— |
|
Interest expense |
(180.6 |
) |
|
(4.6 |
) |
|
(2.4 |
) |
|
— |
|
|
(187.6 |
) |
Intercompany interest expense |
(154.3 |
) |
|
(50.5 |
) |
|
(0.3 |
) |
|
205.1 |
|
|
— |
|
Income before income taxes |
382.3 |
|
|
687.6 |
|
|
70.6 |
|
|
(606.5 |
) |
|
534.0 |
|
Benefit from (provision for) income taxes |
62.7 |
|
|
(158.5 |
) |
|
6.5 |
|
|
0.3 |
|
|
(89.0 |
) |
Net income |
$ |
445.0 |
|
|
$ |
529.1 |
|
|
$ |
77.1 |
|
|
$ |
(606.2 |
) |
|
$ |
445.0 |
|
Comprehensive income |
$ |
429.9 |
|
|
$ |
502.4 |
|
|
$ |
85.5 |
|
|
$ |
(587.9 |
) |
|
$ |
429.9 |
|
|
| Condensed Consolidating Statement of Cash Flows |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Cash Flows for the Year Ended February 28, 2014 |
Net cash (used in) provided by operating activities |
$ |
(466.1 |
) |
|
$ |
1,070.7 |
|
|
$ |
240.4 |
|
|
$ |
(18.8 |
) |
|
$ |
826.2 |
|
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
|
Purchase of business, net of cash acquired |
— |
|
|
(1,770.0 |
) |
|
(2,911.3 |
) |
|
— |
|
|
(4,681.3 |
) |
Purchases of property, plant and equipment |
(5.4 |
) |
|
(61.4 |
) |
|
(156.7 |
) |
|
— |
|
|
(223.5 |
) |
Proceeds from redemption of available-for-sale debt securities |
— |
|
|
— |
|
|
23.4 |
|
|
— |
|
|
23.4 |
|
Proceeds from sales of assets |
— |
|
|
0.2 |
|
|
7.6 |
|
|
— |
|
|
7.8 |
|
Net proceeds from intercompany notes |
972.6 |
|
|
— |
|
|
— |
|
|
(972.6 |
) |
|
— |
|
Net investments in equity affiliates |
(1,133.2 |
) |
|
(5.1 |
) |
|
0.1 |
|
|
1,138.2 |
|
|
— |
|
Other investing activities |
— |
|
|
2.2 |
|
|
7.6 |
|
|
— |
|
|
9.8 |
|
Net cash used in investing activities |
(166.0 |
) |
|
(1,834.1 |
) |
|
(3,029.3 |
) |
|
165.6 |
|
|
(4,863.8 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
|
Payments of dividends |
— |
|
|
— |
|
|
(84.3 |
) |
|
84.3 |
|
|
— |
|
Net (returns of capital to) contributions from equity affiliates |
— |
|
|
(172.8 |
) |
|
1,376.5 |
|
|
(1,203.7 |
) |
|
— |
|
Net (repayments of) proceeds from intercompany notes |
(1,850.1 |
) |
|
972.9 |
|
|
(95.4 |
) |
|
972.6 |
|
|
— |
|
Proceeds from issuance of long-term debt |
2,225.0 |
|
|
— |
|
|
1,500.0 |
|
|
— |
|
|
3,725.0 |
|
Proceeds from exercises of employee stock options |
120.1 |
|
|
— |
|
|
— |
|
|
— |
|
|
120.1 |
|
Excess tax benefits from stock-based payment awards |
65.4 |
|
|
— |
|
|
— |
|
|
— |
|
|
65.4 |
|
Net proceeds from notes payable |
— |
|
|
— |
|
|
57.3 |
|
|
— |
|
|
57.3 |
|
Proceeds from employee stock purchases |
5.8 |
|
|
— |
|
|
— |
|
|
— |
|
|
5.8 |
|
Principal payments of long-term debt |
(49.8 |
) |
|
(20.2 |
) |
|
(26.4 |
) |
|
— |
|
|
(96.4 |
) |
Payments of financing costs of long-term debt |
(69.6 |
) |
|
— |
|
|
(12.6 |
) |
|
— |
|
|
(82.2 |
) |
Payments of minimum tax withholdings on stock-based payment awards |
— |
|
|
(16.4 |
) |
|
(1.6 |
) |
|
— |
|
|
(18.0 |
) |
Net cash provided by financing activities |
446.8 |
|
|
763.5 |
|
|
2,713.5 |
|
|
(146.8 |
) |
|
3,777.0 |
|
|
|
|
|
|
|
|
|
|
|
Effect of exchange rate changes on cash and cash investments |
— |
|
|
— |
|
|
(7.0 |
) |
|
— |
|
|
(7.0 |
) |
|
|
|
|
|
|
|
|
|
|
Net (decrease) increase in cash and cash investments |
(185.3 |
) |
|
0.1 |
|
|
(82.4 |
) |
|
— |
|
|
(267.6 |
) |
Cash and cash investments, beginning of year |
185.8 |
|
|
0.7 |
|
|
145.0 |
|
|
— |
|
|
331.5 |
|
Cash and cash investments, end of year |
$ |
0.5 |
|
|
$ |
0.8 |
|
|
$ |
62.6 |
|
|
$ |
— |
|
|
$ |
63.9 |
|
|
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Cash Flows for the Year Ended February 28, 2013 |
Net cash (used in) provided by operating activities |
$ |
(336.2 |
) |
|
$ |
722.7 |
|
|
$ |
169.8 |
|
|
$ |
— |
|
|
$ |
556.3 |
|
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
|
Purchase of business, net of cash acquired |
— |
|
|
(159.3 |
) |
|
— |
|
|
— |
|
|
(159.3 |
) |
Purchases of property, plant and equipment |
(5.0 |
) |
|
(39.8 |
) |
|
(17.3 |
) |
|
— |
|
|
(62.1 |
) |
Proceeds from sales of assets |
— |
|
|
5.0 |
|
|
5.0 |
|
|
— |
|
|
10.0 |
|
Payments related to sale of business |
(0.6 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(0.6 |
) |
Net proceeds from intercompany notes |
503.2 |
|
|
— |
|
|
— |
|
|
(503.2 |
) |
|
— |
|
Net investments in equity affiliates |
37.2 |
|
|
(0.3 |
) |
|
— |
|
|
(36.9 |
) |
|
— |
|
Other investing activities |
1.2 |
|
|
4.6 |
|
|
(0.6 |
) |
|
— |
|
|
5.2 |
|
Net cash provided by (used in) investing activities |
536.0 |
|
|
(189.8 |
) |
|
(12.9 |
) |
|
(540.1 |
) |
|
(206.8 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
|
Net returns of capital to equity affiliates |
— |
|
|
(20.8 |
) |
|
(16.1 |
) |
|
36.9 |
|
|
— |
|
Net proceeds from (repayments of) intercompany notes |
0.5 |
|
|
(503.5 |
) |
|
(0.2 |
) |
|
503.2 |
|
|
— |
|
Proceeds from issuance of long-term debt |
2,050.0 |
|
|
— |
|
|
— |
|
|
— |
|
|
2,050.0 |
|
Proceeds from exercises of employee stock options |
158.3 |
|
|
— |
|
|
— |
|
|
— |
|
|
158.3 |
|
Excess tax benefits from stock-based payment awards |
17.7 |
|
|
— |
|
|
— |
|
|
— |
|
|
17.7 |
|
Net repayments of notes payable |
(297.9 |
) |
|
— |
|
|
(74.7 |
) |
|
— |
|
|
(372.6 |
) |
Proceeds from employee stock purchases |
4.4 |
|
|
— |
|
|
— |
|
|
— |
|
|
4.4 |
|
Principal payments of long-term debt |
(1,528.7 |
) |
|
(8.5 |
) |
|
— |
|
|
— |
|
|
(1,537.2 |
) |
Payments of financing costs of long-term debt |
(35.8 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(35.8 |
) |
Payments of minimum tax withholdings on stock-based payment awards |
— |
|
|
— |
|
|
(0.5 |
) |
|
— |
|
|
(0.5 |
) |
Purchases of treasury stock |
(383.0 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(383.0 |
) |
Net cash used in financing activities |
(14.5 |
) |
|
(532.8 |
) |
|
(91.5 |
) |
|
540.1 |
|
|
(98.7 |
) |
|
|
|
|
|
|
|
|
|
|
Effect of exchange rate changes on cash and cash investments |
— |
|
|
— |
|
|
(5.1 |
) |
|
— |
|
|
(5.1 |
) |
|
|
|
|
|
|
|
|
|
|
Net increase in cash and cash investments |
185.3 |
|
|
0.1 |
|
|
60.3 |
|
|
— |
|
|
245.7 |
|
Cash and cash investments, beginning of year |
0.5 |
|
|
0.6 |
|
|
84.7 |
|
|
— |
|
|
85.8 |
|
Cash and cash investments, end of year |
$ |
185.8 |
|
|
$ |
0.7 |
|
|
$ |
145.0 |
|
|
$ |
— |
|
|
$ |
331.5 |
|
|
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Cash Flows for the Year Ended February 29, 2012 |
Net cash (used in) provided by operating activities |
$ |
(20.9 |
) |
|
$ |
695.5 |
|
|
$ |
182.1 |
|
|
$ |
(72.6 |
) |
|
$ |
784.1 |
|
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
|
Purchase of business, net of cash acquired |
— |
|
|
— |
|
|
(51.5 |
) |
|
— |
|
|
(51.5 |
) |
Purchases of property, plant and equipment |
(20.5 |
) |
|
(33.4 |
) |
|
(14.5 |
) |
|
— |
|
|
(68.4 |
) |
Proceeds from redemption of available-for-sale debt securities |
— |
|
|
— |
|
|
20.2 |
|
|
— |
|
|
20.2 |
|
Proceeds from sales of assets |
— |
|
|
3.3 |
|
|
0.3 |
|
|
— |
|
|
3.6 |
|
Payments related to sale of business |
(12.3 |
) |
|
— |
|
|
(18.5 |
) |
|
— |
|
|
(30.8 |
) |
Net proceeds from intercompany notes |
613.2 |
|
|
0.6 |
|
|
— |
|
|
(613.8 |
) |
|
— |
|
Net investments in equity affiliates |
(22.8 |
) |
|
— |
|
|
— |
|
|
22.8 |
|
|
— |
|
Other investing activities |
1.0 |
|
|
(6.1 |
) |
|
(3.1 |
) |
|
— |
|
|
(8.2 |
) |
Net cash provided by (used in) investing activities |
558.6 |
|
|
(35.6 |
) |
|
(67.1 |
) |
|
(591.0 |
) |
|
(135.1 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
|
Payments of dividends |
— |
|
|
— |
|
|
(22.6 |
) |
|
22.6 |
|
|
— |
|
Net returns of capital to equity affiliates |
— |
|
|
(20.8 |
) |
|
(7.5 |
) |
|
28.3 |
|
|
— |
|
Net (repayments of) proceeds from intercompany notes |
— |
|
|
(620.8 |
) |
|
8.1 |
|
|
612.7 |
|
|
— |
|
Proceeds from exercises of employee stock options |
51.3 |
|
|
— |
|
|
— |
|
|
— |
|
|
51.3 |
|
Excess tax benefits from stock-based payment awards |
10.9 |
|
|
— |
|
|
— |
|
|
— |
|
|
10.9 |
|
Net proceeds from notes payable |
223.1 |
|
|
— |
|
|
26.7 |
|
|
— |
|
|
249.8 |
|
Proceeds from employee stock purchases |
4.7 |
|
|
— |
|
|
— |
|
|
— |
|
|
4.7 |
|
Principal payments of long-term debt |
(414.2 |
) |
|
(16.9 |
) |
|
(44.8 |
) |
|
— |
|
|
(475.9 |
) |
Payments of minimum tax withholdings on stock-based payment awards |
— |
|
|
(1.7 |
) |
|
(0.5 |
) |
|
— |
|
|
(2.2 |
) |
Purchases of treasury stock |
(413.7 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(413.7 |
) |
Net cash used in financing activities |
(537.9 |
) |
|
(660.2 |
) |
|
(40.6 |
) |
|
663.6 |
|
|
(575.1 |
) |
|
|
|
|
|
|
|
|
|
|
Effect of exchange rate changes on cash and cash investments |
— |
|
|
— |
|
|
2.7 |
|
|
— |
|
|
2.7 |
|
|
|
|
|
|
|
|
|
|
|
Net (decrease) increase in cash and cash investments |
(0.2 |
) |
|
(0.3 |
) |
|
77.1 |
|
|
— |
|
|
76.6 |
|
Cash and cash investments, beginning of year |
0.7 |
|
|
0.9 |
|
|
7.6 |
|
|
— |
|
|
9.2 |
|
Cash and cash investments, end of year |
$ |
0.5 |
|
|
$ |
0.6 |
|
|
$ |
84.7 |
|
|
$ |
— |
|
|
$ |
85.8 |
|
|