| Condensed Consolidating Balance Sheet |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Balance Sheet at August 31, 2014 |
Current assets: |
|
|
|
|
|
|
|
|
|
Cash and cash investments |
$ |
13.7 |
|
|
$ |
0.7 |
|
|
$ |
89.9 |
|
|
$ |
— |
|
|
$ |
104.3 |
|
Accounts receivable, net |
0.3 |
|
|
6.8 |
|
|
649.7 |
|
|
0.1 |
|
|
656.9 |
|
Inventories |
158.2 |
|
|
1,294.4 |
|
|
404.7 |
|
|
(78.4 |
) |
|
1,778.9 |
|
Intercompany receivable |
10,723.1 |
|
|
15,121.0 |
|
|
4,970.6 |
|
|
(30,814.7 |
) |
|
— |
|
Prepaid expenses and other |
47.3 |
|
|
54.4 |
|
|
682.7 |
|
|
(486.4 |
) |
|
298.0 |
|
Total current assets |
10,942.6 |
|
|
16,477.3 |
|
|
6,797.6 |
|
|
(31,379.4 |
) |
|
2,838.1 |
|
Property, plant and equipment, net |
51.9 |
|
|
861.3 |
|
|
1,386.7 |
|
|
— |
|
|
2,299.9 |
|
Investments in subsidiaries |
11,384.4 |
|
|
11.9 |
|
|
— |
|
|
(11,396.3 |
) |
|
— |
|
Goodwill |
— |
|
|
5,411.3 |
|
|
738.0 |
|
|
— |
|
|
6,149.3 |
|
Intangible assets, net |
— |
|
|
708.4 |
|
|
2,501.8 |
|
|
3.3 |
|
|
3,213.5 |
|
Intercompany notes receivable |
3,715.0 |
|
|
9.8 |
|
|
— |
|
|
(3,724.8 |
) |
|
— |
|
Other assets, net |
57.0 |
|
|
69.9 |
|
|
29.7 |
|
|
— |
|
|
156.6 |
|
Total assets |
$ |
26,150.9 |
|
|
$ |
23,549.9 |
|
|
$ |
11,453.8 |
|
|
$ |
(46,497.2 |
) |
|
$ |
14,657.4 |
|
|
|
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
|
Notes payable to banks |
$ |
— |
|
|
$ |
— |
|
|
$ |
253.0 |
|
|
$ |
— |
|
|
$ |
253.0 |
|
Current maturities of long-term debt |
563.1 |
|
|
17.2 |
|
|
35.4 |
|
|
— |
|
|
615.7 |
|
Accounts payable |
26.6 |
|
|
169.6 |
|
|
245.7 |
|
|
— |
|
|
441.9 |
|
Accrued excise taxes |
14.5 |
|
|
10.1 |
|
|
4.9 |
|
|
— |
|
|
29.5 |
|
Intercompany payable |
14,396.0 |
|
|
11,167.3 |
|
|
5,251.4 |
|
|
(30,814.7 |
) |
|
— |
|
Other accrued expenses and liabilities |
752.4 |
|
|
129.1 |
|
|
165.8 |
|
|
(511.1 |
) |
|
536.2 |
|
Total current liabilities |
15,752.6 |
|
|
11,493.3 |
|
|
5,956.2 |
|
|
(31,325.8 |
) |
|
1,876.3 |
|
Long-term debt, less current maturities |
4,861.7 |
|
|
30.4 |
|
|
1,431.1 |
|
|
— |
|
|
6,323.2 |
|
Deferred income taxes |
18.3 |
|
|
602.7 |
|
|
194.0 |
|
|
— |
|
|
815.0 |
|
Intercompany notes payable |
— |
|
|
3,702.0 |
|
|
22.8 |
|
|
(3,724.8 |
) |
|
— |
|
Other liabilities |
30.9 |
|
|
24.2 |
|
|
100.4 |
|
|
— |
|
|
155.5 |
|
Stockholders’ equity |
5,487.4 |
|
|
7,697.3 |
|
|
3,749.3 |
|
|
(11,446.6 |
) |
|
5,487.4 |
|
Total liabilities and stockholders’ equity |
$ |
26,150.9 |
|
|
$ |
23,549.9 |
|
|
$ |
11,453.8 |
|
|
$ |
(46,497.2 |
) |
|
$ |
14,657.4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
|
|
| Condensed Consolidating Statement of Comprehensive Income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Comprehensive Income for the Six Months Ended August 31, 2014 |
Sales |
$ |
1,139.2 |
|
|
$ |
2,659.5 |
|
|
$ |
1,605.4 |
|
|
$ |
(1,947.0 |
) |
|
$ |
3,457.1 |
|
Less – excise taxes |
(153.2 |
) |
|
(139.1 |
) |
|
(34.7 |
) |
|
— |
|
|
(327.0 |
) |
Net sales |
986.0 |
|
|
2,520.4 |
|
|
1,570.7 |
|
|
(1,947.0 |
) |
|
3,130.1 |
|
Cost of product sold |
(796.9 |
) |
|
(1,906.4 |
) |
|
(1,012.9 |
) |
|
1,928.2 |
|
|
(1,788.0 |
) |
Gross profit |
189.1 |
|
|
614.0 |
|
|
557.8 |
|
|
(18.8 |
) |
|
1,342.1 |
|
Selling, general and administrative expenses |
(194.1 |
) |
|
(301.0 |
) |
|
(83.5 |
) |
|
7.4 |
|
|
(571.2 |
) |
Operating (loss) income |
(5.0 |
) |
|
313.0 |
|
|
474.3 |
|
|
(11.4 |
) |
|
770.9 |
|
Equity in earnings (losses) of equity method investees and subsidiaries |
509.0 |
|
|
1.8 |
|
|
0.6 |
|
|
(511.5 |
) |
|
(0.1 |
) |
Interest income |
— |
|
|
— |
|
|
0.6 |
|
|
— |
|
|
0.6 |
|
Intercompany interest income |
88.5 |
|
|
103.8 |
|
|
0.2 |
|
|
(192.5 |
) |
|
— |
|
Interest expense |
(146.0 |
) |
|
(0.7 |
) |
|
(25.3 |
) |
|
— |
|
|
(172.0 |
) |
Intercompany interest expense |
(103.5 |
) |
|
(88.4 |
) |
|
(0.6 |
) |
|
192.5 |
|
|
— |
|
Loss on write-off of financing costs |
— |
|
|
— |
|
|
(4.4 |
) |
|
— |
|
|
(4.4 |
) |
Income before income taxes |
343.0 |
|
|
329.5 |
|
|
445.4 |
|
|
(522.9 |
) |
|
595.0 |
|
Benefit from (provision for) income taxes |
59.5 |
|
|
(123.1 |
) |
|
(132.4 |
) |
|
3.5 |
|
|
(192.5 |
) |
Net income |
$ |
402.5 |
|
|
$ |
206.4 |
|
|
$ |
313.0 |
|
|
$ |
(519.4 |
) |
|
$ |
402.5 |
|
Comprehensive income |
$ |
421.3 |
|
|
$ |
207.5 |
|
|
$ |
329.4 |
|
|
$ |
(536.9 |
) |
|
$ |
421.3 |
|
|
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Comprehensive Income for the Six Months Ended August 31, 2013 |
Sales |
$ |
1,121.8 |
|
|
$ |
1,633.4 |
|
|
$ |
821.6 |
|
|
$ |
(1,197.3 |
) |
|
$ |
2,379.5 |
|
Less – excise taxes |
(153.3 |
) |
|
(59.1 |
) |
|
(33.9 |
) |
|
— |
|
|
(246.3 |
) |
Net sales |
968.5 |
|
|
1,574.3 |
|
|
787.7 |
|
|
(1,197.3 |
) |
|
2,133.2 |
|
Cost of product sold |
(825.0 |
) |
|
(1,092.7 |
) |
|
(539.9 |
) |
|
1,157.5 |
|
|
(1,300.1 |
) |
Gross profit |
143.5 |
|
|
481.6 |
|
|
247.8 |
|
|
(39.8 |
) |
|
833.1 |
|
Selling, general and administrative expenses |
(219.4 |
) |
|
(144.5 |
) |
|
(74.1 |
) |
|
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 |
(75.9 |
) |
|
1,979.1 |
|
|
(127.2 |
) |
|
(31.5 |
) |
|
1,744.5 |
|
Equity in earnings of equity method investees and subsidiaries |
1,722.8 |
|
|
74.1 |
|
|
0.2 |
|
|
(1,726.8 |
) |
|
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 |
|
|
— |
|
Income (loss) before income taxes |
1,504.2 |
|
|
2,061.7 |
|
|
(137.9 |
) |
|
(1,758.3 |
) |
|
1,669.7 |
|
Benefit from (provision for) income taxes |
70.7 |
|
|
(153.0 |
) |
|
(21.7 |
) |
|
9.2 |
|
|
(94.8 |
) |
Net income (loss) |
$ |
1,574.9 |
|
|
$ |
1,908.7 |
|
|
$ |
(159.6 |
) |
|
$ |
(1,749.1 |
) |
|
$ |
1,574.9 |
|
Comprehensive income (loss) |
$ |
1,507.4 |
|
|
$ |
1,915.8 |
|
|
$ |
(234.4 |
) |
|
$ |
(1,681.4 |
) |
|
$ |
1,507.4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Comprehensive Income for the Three Months Ended August 31, 2014 |
Sales |
$ |
594.7 |
|
|
$ |
1,357.2 |
|
|
$ |
791.4 |
|
|
$ |
(973.3 |
) |
|
$ |
1,770.0 |
|
Less – excise taxes |
(76.9 |
) |
|
(71.5 |
) |
|
(17.5 |
) |
|
— |
|
|
(165.9 |
) |
Net sales |
517.8 |
|
|
1,285.7 |
|
|
773.9 |
|
|
(973.3 |
) |
|
1,604.1 |
|
Cost of product sold |
(418.6 |
) |
|
(983.1 |
) |
|
(504.2 |
) |
|
973.8 |
|
|
(932.1 |
) |
Gross profit |
99.2 |
|
|
302.6 |
|
|
269.7 |
|
|
0.5 |
|
|
672.0 |
|
Selling, general and administrative expenses |
(101.2 |
) |
|
(152.5 |
) |
|
(43.1 |
) |
|
3.5 |
|
|
(293.3 |
) |
Operating (loss) income |
(2.0 |
) |
|
150.1 |
|
|
226.6 |
|
|
4.0 |
|
|
378.7 |
|
Equity in earnings (losses) of equity method investees and subsidiaries |
3.2 |
|
|
0.3 |
|
|
0.4 |
|
|
(4.5 |
) |
|
(0.6 |
) |
Interest income |
— |
|
|
— |
|
|
0.1 |
|
|
— |
|
|
0.1 |
|
Intercompany interest income |
44.4 |
|
|
54.5 |
|
|
0.1 |
|
|
(99.0 |
) |
|
— |
|
Interest expense |
(74.1 |
) |
|
(0.4 |
) |
|
(10.6 |
) |
|
— |
|
|
(85.1 |
) |
Intercompany interest expense |
(54.3 |
) |
|
(44.3 |
) |
|
(0.4 |
) |
|
99.0 |
|
|
— |
|
Loss on write-off of financing costs |
— |
|
|
— |
|
|
(4.4 |
) |
|
— |
|
|
(4.4 |
) |
(Loss) income before income taxes |
(82.8 |
) |
|
160.2 |
|
|
211.8 |
|
|
(0.5 |
) |
|
288.7 |
|
Benefit from (provision for) income taxes |
278.6 |
|
|
(60.6 |
) |
|
(309.8 |
) |
|
(1.1 |
) |
|
(92.9 |
) |
Net income (loss) |
$ |
195.8 |
|
|
$ |
99.6 |
|
|
$ |
(98.0 |
) |
|
$ |
(1.6 |
) |
|
$ |
195.8 |
|
Comprehensive income (loss) |
$ |
167.2 |
|
|
$ |
99.0 |
|
|
$ |
(128.4 |
) |
|
$ |
29.4 |
|
|
$ |
167.2 |
|
|
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Comprehensive Income for the Three Months Ended August 31, 2013 |
Sales |
$ |
569.3 |
|
|
$ |
1,243.1 |
|
|
$ |
607.7 |
|
|
$ |
(806.8 |
) |
|
$ |
1,613.3 |
|
Less – excise taxes |
(75.2 |
) |
|
(61.1 |
) |
|
(17.2 |
) |
|
— |
|
|
(153.5 |
) |
Net sales |
494.1 |
|
|
1,182.0 |
|
|
590.5 |
|
|
(806.8 |
) |
|
1,459.8 |
|
Cost of product sold |
(425.0 |
) |
|
(817.6 |
) |
|
(413.4 |
) |
|
773.2 |
|
|
(882.8 |
) |
Gross profit |
69.1 |
|
|
364.4 |
|
|
177.1 |
|
|
(33.6 |
) |
|
577.0 |
|
Selling, general and administrative expenses |
(100.4 |
) |
|
(115.6 |
) |
|
(32.2 |
) |
|
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 |
(31.3 |
) |
|
1,890.8 |
|
|
(156.0 |
) |
|
(29.5 |
) |
|
1,674.0 |
|
Equity in earnings of equity method investees and subsidiaries |
1,589.0 |
|
|
7.7 |
|
|
0.1 |
|
|
(1,593.1 |
) |
|
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 |
|
|
— |
|
Income (loss) before income taxes |
1,481.6 |
|
|
1,896.8 |
|
|
(168.4 |
) |
|
(1,622.6 |
) |
|
1,587.4 |
|
Benefit from (provision for) income taxes |
40.4 |
|
|
(91.0 |
) |
|
(23.4 |
) |
|
8.6 |
|
|
(65.4 |
) |
Net income (loss) |
$ |
1,522.0 |
|
|
$ |
1,805.8 |
|
|
$ |
(191.8 |
) |
|
$ |
(1,614.0 |
) |
|
$ |
1,522.0 |
|
Comprehensive income (loss) |
$ |
1,478.0 |
|
|
$ |
1,809.5 |
|
|
$ |
(239.8 |
) |
|
$ |
(1,569.7 |
) |
|
$ |
1,478.0 |
|
|
| 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, 2014 |
Net cash (used in) provided by operating activities |
$ |
(224.8 |
) |
|
$ |
393.2 |
|
|
$ |
499.7 |
|
|
$ |
— |
|
|
$ |
668.1 |
|
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
|
Purchases of property, plant and equipment |
(13.3 |
) |
|
(54.5 |
) |
|
(240.4 |
) |
|
— |
|
|
(308.2 |
) |
Net proceeds from intercompany notes |
207.9 |
|
|
— |
|
|
— |
|
|
(207.9 |
) |
|
— |
|
Net investments in equity affiliates |
(46.4 |
) |
|
— |
|
|
— |
|
|
46.4 |
|
|
— |
|
Other investing activities |
— |
|
|
(5.7 |
) |
|
7.7 |
|
|
— |
|
|
2.0 |
|
Net cash provided by (used in) investing activities |
148.2 |
|
|
(60.2 |
) |
|
(232.7 |
) |
|
(161.5 |
) |
|
(306.2 |
) |
|
|
|
|
|
|
|
|
|
|
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
|
Payments of dividends |
— |
|
|
— |
|
|
(24.9 |
) |
|
24.9 |
|
|
— |
|
Net (returns of capital to) contributions from equity affiliates |
— |
|
|
(16.6 |
) |
|
87.9 |
|
|
(71.3 |
) |
|
— |
|
Net proceeds from (repayments of) intercompany notes |
20.6 |
|
|
(281.7 |
) |
|
53.2 |
|
|
207.9 |
|
|
— |
|
Payment of delayed purchase price arrangement |
— |
|
|
— |
|
|
(543.3 |
) |
|
— |
|
|
(543.3 |
) |
Principal payments of long-term debt |
(16.8 |
) |
|
(8.7 |
) |
|
(8.9 |
) |
|
— |
|
|
(34.4 |
) |
Payments of minimum tax withholdings on stock-based payment awards |
— |
|
|
(26.1 |
) |
|
(2.3 |
) |
|
— |
|
|
(28.4 |
) |
Payments of financing costs of long-term debt |
(0.1 |
) |
|
— |
|
|
(1.9 |
) |
|
— |
|
|
(2.0 |
) |
Net proceeds from notes payable |
— |
|
|
— |
|
|
197.0 |
|
|
— |
|
|
197.0 |
|
Excess tax benefits from stock-based payment awards |
64.0 |
|
|
— |
|
|
— |
|
|
— |
|
|
64.0 |
|
Proceeds from exercises of employee stock options |
18.3 |
|
|
— |
|
|
— |
|
|
— |
|
|
18.3 |
|
Proceeds from employee stock purchases |
3.8 |
|
|
— |
|
|
— |
|
|
— |
|
|
3.8 |
|
Net cash provided by (used in) financing activities |
89.8 |
|
|
(333.1 |
) |
|
(243.2 |
) |
|
161.5 |
|
|
(325.0 |
) |
|
|
|
|
|
|
|
|
|
|
Effect of exchange rate changes on cash and cash investments |
— |
|
|
— |
|
|
3.5 |
|
|
— |
|
|
3.5 |
|
|
|
|
|
|
|
|
|
|
|
Net increase (decrease) in cash and cash investments |
13.2 |
|
|
(0.1 |
) |
|
27.3 |
|
|
— |
|
|
40.4 |
|
Cash and cash investments, beginning of period |
0.5 |
|
|
0.8 |
|
|
62.6 |
|
|
— |
|
|
63.9 |
|
Cash and cash investments, end of period |
$ |
13.7 |
|
|
$ |
0.7 |
|
|
$ |
89.9 |
|
|
$ |
— |
|
|
$ |
104.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 (used in) provided by operating activities |
$ |
(138.9 |
) |
|
$ |
704.3 |
|
|
$ |
(57.6 |
) |
|
$ |
(18.8 |
) |
|
$ |
489.0 |
|
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
|
Purchases of property, plant and equipment |
(5.0 |
) |
|
(33.1 |
) |
|
(11.1 |
) |
|
— |
|
|
(49.2 |
) |
Purchase of business, net of cash acquired |
— |
|
|
(1,770.1 |
) |
|
(2,902.8 |
) |
|
— |
|
|
(4,672.9 |
) |
Net proceeds from intercompany notes |
695.3 |
|
|
— |
|
|
— |
|
|
(695.3 |
) |
|
— |
|
Net investments in equity affiliates |
(1,149.7 |
) |
|
— |
|
|
— |
|
|
1,149.7 |
|
|
— |
|
Other investing activities |
— |
|
|
2.5 |
|
|
0.2 |
|
|
— |
|
|
2.7 |
|
Net cash used in investing activities |
(459.4 |
) |
|
(1,800.7 |
) |
|
(2,913.7 |
) |
|
454.4 |
|
|
(4,719.4 |
) |
|
|
|
|
|
|
|
|
|
|
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
|
Payments of dividends |
— |
|
|
— |
|
|
(18.8 |
) |
|
18.8 |
|
|
— |
|
Net (returns of capital to) contributions from equity affiliates |
— |
|
|
(139.7 |
) |
|
1,289.4 |
|
|
(1,149.7 |
) |
|
— |
|
Net (repayments of) proceeds from intercompany notes |
(1,945.0 |
) |
|
1,260.7 |
|
|
(11.0 |
) |
|
695.3 |
|
|
— |
|
Principal payments of long-term debt |
(2.3 |
) |
|
(7.6 |
) |
|
— |
|
|
— |
|
|
(9.9 |
) |
Payments of minimum tax withholdings on stock-based payment awards |
— |
|
|
(16.4 |
) |
|
(1.6 |
) |
|
— |
|
|
(18.0 |
) |
Payments of financing costs of long-term debt |
(69.6 |
) |
|
— |
|
|
(12.6 |
) |
|
— |
|
|
(82.2 |
) |
Net proceeds from notes payable |
78.0 |
|
|
— |
|
|
194.1 |
|
|
— |
|
|
272.1 |
|
Excess tax benefits from stock-based payment awards |
53.8 |
|
|
— |
|
|
— |
|
|
— |
|
|
53.8 |
|
Proceeds from exercises of employee stock options |
77.5 |
|
|
— |
|
|
— |
|
|
— |
|
|
77.5 |
|
Proceeds from employee stock purchases |
2.5 |
|
|
— |
|
|
— |
|
|
— |
|
|
2.5 |
|
Proceeds from issuance of long-term debt |
2,225.0 |
|
|
— |
|
|
1,500.0 |
|
|
— |
|
|
3,725.0 |
|
Net cash provided by financing activities |
419.9 |
|
|
1,097.0 |
|
|
2,939.5 |
|
|
(435.6 |
) |
|
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 |
|
|