Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v2.4.0.6
Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Millions, unless otherwise specified
 6 Months Ended
Aug. 31, 2012
Aug. 31, 2011
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 196.6 $ 237.2
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of property, plant and equipment 52.4 46.0
Deferred tax provision 31.9 24.7
Stock-based compensation expense 21.4 24.2
Amortization of intangible and other assets 4.8 6.3
Loss on extinguishment of debt 2.8 0
Equity in earnings of equity method investees, net of distributed earnings (0.6) 10.0
(Gain) loss on disposal of long-lived assets, net (0.5) 0.1
Gain on business sold, net 0 (0.8)
Change in operating assets and liabilities:    
Accounts receivable, net (51.1) (84.5)
Inventories 37.2 118.7
Prepaid expenses and other current assets (1.0) 7.7
Accounts payable 52.5 12.8
Accrued excise taxes 2.9 12.1
Other accrued expenses and liabilities 3.7 83.0
Other, net 15.5 19.9
Total adjustments 171.9 280.2
Net cash provided by operating activities 368.5 517.4
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of business, net of cash acquired (159.7) 0
Purchases of property, plant and equipment (35.6) (39.2)
Payments related to sale of business (0.3) (28.8)
Proceeds from sales of assets 7.9 0.3
Proceeds from notes receivable 4.6 1.0
Other investing activities (0.9) (6.5)
Net cash used in investing activities (184.0) (73.2)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Principal payments of long-term debt (838.0) (419.9)
Payment of restricted cash upon issuance of long-term debt (650.0) 0
Purchases of treasury stock (383.0) (187.5)
Net (repayment of) proceeds from notes payable (358.3) 113.3
Payment of financing costs of long-term debt (34.1) 0
Payment of minimum tax withholdings on stock-based payment awards (0.5) (2.2)
Proceeds from issuance of long-term debt 2,050.0 0
Proceeds from exercises of employee stock options 110.5 39.0
Proceeds from excess tax benefits from stock-based payment awards 11.4 10.6
Proceeds from employee stock purchases 2.1 2.4
Net cash used in financing activities (89.9) (444.3)
Effect of exchange rate changes on cash and cash investments (1.9) 0.9
NET INCREASE IN CASH AND CASH INVESTMENTS 92.7 0.8
CASH AND CASH INVESTMENTS, beginning of period 85.8 9.2
CASH AND CASH INVESTMENTS, end of period 178.5 10.0
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES:    
Fair value of assets acquired, including cash acquired   0
Liabilities assumed   0
Net assets acquired   0
Less - cash acquired   0
Net cash paid for purchase of business 159.7 0
Property, plant and equipment acquired under financing arrangements 8.3 15.0
Mark West Assets [Member]
    
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of business, net of cash acquired (159.7)  
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES:    
Fair value of assets acquired, including cash acquired 159.7  
Liabilities assumed 0  
Net assets acquired 159.7  
Less - cash acquired 0  
Net cash paid for purchase of business $ 159.7