Constellation Brands, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Condensed Consolidating Financial Information (Details 1)

Condensed Consolidating Financial Information (Details 1) (USD $) In Millions, unless otherwise specified	3 Months Ended								12 Months Ended
	Feb. 28, 2014	Nov. 30, 2013	Aug. 31, 2013	May 31, 2013	Feb. 28, 2013	Nov. 30, 2012	Aug. 31, 2012	May 31, 2012	Feb. 28, 2014	Feb. 28, 2013	Feb. 29, 2012
Condensed Consolidating Statement of Comprehensive Income
Sales									$ 5,411.0	$ 3,171.4	$ 2,979.1
Less – excise taxes									(543.3)	(375.3)	(324.8)
Net sales	1,291.2	1,443.3	1,459.8	673.4	695.9	766.9	698.5	634.8	4,867.7	2,796.1	2,654.3
Cost of product sold									(2,876.0)	(1,687.8)	(1,592.2)
Gross profit	548.9	609.7	577.0	256.1	261.8	310.8	285.1	250.6	1,991.7	1,108.3	1,062.1
Selling, general and administrative expenses									(895.1)	(585.4)	(537.5)
Impairment of goodwill and intangible assets									(300.9)	0	(38.1)
Gain on remeasurement to fair value of equity method investment									1,642.0	0	0
Operating income									2,437.7	522.9	486.5
Equity in earnings of equity method investees and subsidiaries									87.8	233.1	228.5
Interest income									7.7	6.8	6.6
Intercompany interest income									0	0	0
Interest expense									(330.9)	(233.9)	(187.6)
Intercompany interest expense									0	0	0
Loss on write-off of financing costs									0	(12.5)	0
Income before income taxes									2,202.3	516.4	534.0
Benefit from (provision for) income taxes									(259.2)	(128.6)	(89.0)
NET INCOME	157.2	211.0	1,522.0	52.9	81.7	109.5	124.6	72.0	1,943.1	387.8	445.0
Comprehensive income									1,897.0	346.2	429.9
Parent Company [Member]
Condensed Consolidating Statement of Comprehensive Income
Sales									2,351.8	2,065.4	1,319.1
Less – excise taxes									(317.3)	(213.0)	(169.2)
Net sales									2,034.5	1,852.4	1,149.9
Cost of product sold									(1,730.3)	(1,537.2)	(864.3)
Gross profit									304.2	315.2	285.6
Selling, general and administrative expenses									(395.4)	(344.1)	(237.3)
Impairment of goodwill and intangible assets									0		0
Gain on remeasurement to fair value of equity method investment									0
Operating income									(91.2)	(28.9)	48.3
Equity in earnings of equity method investees and subsidiaries									2,219.2	622.2	590.5
Interest income									0.1	0.6	0.2
Intercompany interest income									152.4	79.0	78.2
Interest expense									(283.2)	(230.1)	(180.6)
Intercompany interest expense									(168.1)	(193.2)	(154.3)
Loss on write-off of financing costs										(12.5)
Income before income taxes									1,829.2	237.1	382.3
Benefit from (provision for) income taxes									113.9	150.7	62.7
NET INCOME									1,943.1	387.8	445.0
Comprehensive income									1,897.0	346.2	429.9
Subsidiary Guarantors [Member]
Condensed Consolidating Statement of Comprehensive Income
Sales									3,868.3	1,758.6	1,721.4
Less – excise taxes									(155.9)	(95.9)	(93.5)
Net sales									3,712.4	1,662.7	1,627.9
Cost of product sold									(2,661.6)	(1,156.6)	(1,063.2)
Gross profit									1,050.8	506.1	564.7
Selling, general and administrative expenses									(361.7)	(101.4)	(187.8)
Impairment of goodwill and intangible assets									0		0
Gain on remeasurement to fair value of equity method investment									1,642.0
Operating income									2,331.1	404.7	376.9
Equity in earnings of equity method investees and subsidiaries									92.7	232.9	240.3
Interest income									0	0	0
Intercompany interest income									168.5	193.2	125.5
Interest expense									(2.5)	(1.4)	(4.6)
Intercompany interest expense									(153.6)	(80.2)	(50.5)
Loss on write-off of financing costs										0
Income before income taxes									2,436.2	749.2	687.6
Benefit from (provision for) income taxes									(292.5)	(274.7)	(158.5)
NET INCOME									2,143.7	474.5	529.1
Comprehensive income									2,167.7	439.5	502.4
Subsidiary Nonguarantors [Member]
Condensed Consolidating Statement of Comprehensive Income
Sales									2,093.9	827.8	712.0
Less – excise taxes									(70.1)	(66.4)	(62.1)
Net sales									2,023.8	761.4	649.9
Cost of product sold									(1,312.1)	(460.8)	(389.6)
Gross profit									711.7	300.6	260.3
Selling, general and administrative expenses									(155.0)	(154.3)	(161.0)
Impairment of goodwill and intangible assets									(300.9)		(38.1)
Gain on remeasurement to fair value of equity method investment									0
Operating income									255.8	146.3	61.2
Equity in earnings of equity method investees and subsidiaries									0.6	0.5	4.3
Interest income									7.6	6.2	6.4
Intercompany interest income									1.5	1.5	1.4
Interest expense									(45.2)	(2.4)	(2.4)
Intercompany interest expense									(0.7)	(0.3)	(0.3)
Loss on write-off of financing costs										0
Income before income taxes									219.6	151.8	70.6
Benefit from (provision for) income taxes									(100.1)	(4.5)	6.5
NET INCOME									119.5	147.3	77.1
Comprehensive income									64.0	103.5	85.5
Eliminations [Member]
Condensed Consolidating Statement of Comprehensive Income
Sales									(2,903.0)	(1,480.4)	(773.4)
Less – excise taxes									0	0	0
Net sales									(2,903.0)	(1,480.4)	(773.4)
Cost of product sold									2,828.0	1,466.8	724.9
Gross profit									(75.0)	(13.6)	(48.5)
Selling, general and administrative expenses									17.0	14.4	48.6
Impairment of goodwill and intangible assets									0		0
Gain on remeasurement to fair value of equity method investment									0
Operating income									(58.0)	0.8	0.1
Equity in earnings of equity method investees and subsidiaries									(2,224.7)	(622.5)	(606.6)
Interest income									0	0	0
Intercompany interest income									(322.4)	(273.7)	(205.1)
Interest expense									0	0	0
Intercompany interest expense									322.4	273.7	205.1
Loss on write-off of financing costs										0
Income before income taxes									(2,282.7)	(621.7)	(606.5)
Benefit from (provision for) income taxes									19.5	(0.1)	0.3
NET INCOME									(2,263.2)	(621.8)	(606.2)
Comprehensive income									$ (2,231.7)	$ (543.0)	$ (587.9)