|
Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Millions, unless otherwise specified |
9 Months Ended | |
|---|---|---|
|
Nov. 30, 2014
|
Nov. 30, 2013
|
|
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net income | $ 624.7us-gaap_NetIncomeLoss | $ 1,785.9us-gaap_NetIncomeLoss |
| Adjustments to reconcile net income to net cash provided by operating activities | ||
| Depreciation of property, plant and equipment | 118.4us-gaap_Depreciation | 102.1us-gaap_Depreciation |
| Deferred tax provision | 80.3us-gaap_DeferredIncomeTaxExpenseBenefit | 10.1us-gaap_DeferredIncomeTaxExpenseBenefit |
| Stock-based compensation expense | 42.1us-gaap_ShareBasedCompensation | 37.5us-gaap_ShareBasedCompensation |
| Amortization of intangible assets | 36.2us-gaap_AdjustmentForAmortization | 11.2us-gaap_AdjustmentForAmortization |
| Amortization of deferred financing costs | 9.0us-gaap_AmortizationOfFinancingCosts | 8.3us-gaap_AmortizationOfFinancingCosts |
| Noncash portion of loss on write-off of financing costs | 3.3us-gaap_OtherNoncashExpense | 0us-gaap_OtherNoncashExpense |
| Equity in earnings of equity method investees, net of distributed earnings | (12.7)us-gaap_IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions | (52.1)us-gaap_IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions |
| Gain on remeasurement to fair value of equity method investment | 0us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGain | (1,642.0)us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGain |
| Impairment of goodwill and intangible assets | 0us-gaap_GoodwillAndIntangibleAssetImpairment | 300.9us-gaap_GoodwillAndIntangibleAssetImpairment |
| Change in operating assets and liabilities, net of effects from purchase of business | ||
| Accounts receivable, net | (80.8)us-gaap_IncreaseDecreaseInAccountsReceivable | (4.7)us-gaap_IncreaseDecreaseInAccountsReceivable |
| Inventories | (205.6)us-gaap_IncreaseDecreaseInInventories | (112.2)us-gaap_IncreaseDecreaseInInventories |
| Prepaid expenses and other current assets | (68.4)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets | 11.8us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets |
| Accounts payable | 132.6us-gaap_IncreaseDecreaseInAccountsPayable | 128.8us-gaap_IncreaseDecreaseInAccountsPayable |
| Accrued excise taxes | (2.5)us-gaap_IncreaseDecreaseInPropertyAndOtherTaxesPayable | (6.8)us-gaap_IncreaseDecreaseInPropertyAndOtherTaxesPayable |
| Other accrued expenses and liabilities | 65.4us-gaap_IncreaseDecreaseInOtherAccruedLiabilities | 30.9us-gaap_IncreaseDecreaseInOtherAccruedLiabilities |
| Other, net | 8.1us-gaap_OtherOperatingActivitiesCashFlowStatement | 19.4us-gaap_OtherOperatingActivitiesCashFlowStatement |
| Total adjustments | 125.4us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities | (1,156.8)us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities |
| Net cash provided by operating activities | 750.1us-gaap_NetCashProvidedByUsedInOperatingActivities | 629.1us-gaap_NetCashProvidedByUsedInOperatingActivities |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Purchases of property, plant and equipment | (541.3)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment | (85.9)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment |
| Purchase of business, net of cash acquired | (21.4)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired | (4,681.0)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired |
| Other investing activities | 3.0us-gaap_PaymentsForProceedsFromOtherInvestingActivities | 9.4us-gaap_PaymentsForProceedsFromOtherInvestingActivities |
| Net cash used in investing activities | (559.7)us-gaap_NetCashProvidedByUsedInInvestingActivities | (4,757.5)us-gaap_NetCashProvidedByUsedInInvestingActivities |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Principal payments of long-term debt | (565.3)us-gaap_RepaymentsOfLongTermDebt | (90.6)us-gaap_RepaymentsOfLongTermDebt |
| Payment of delayed purchase price arrangement | (543.3)stz_BusinessCombinationPaymentOfDelayedPurchasePriceArrangement | 0stz_BusinessCombinationPaymentOfDelayedPurchasePriceArrangement |
| Payments of minimum tax withholdings on stock-based payment awards | (28.4)us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation | (18.0)us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation |
| Payments of financing costs of long-term debt | (13.3)us-gaap_PaymentsOfFinancingCosts | (82.2)us-gaap_PaymentsOfFinancingCosts |
| Proceeds from issuance of long-term debt | 800.0us-gaap_ProceedsFromIssuanceOfLongTermDebt | 3,725.0us-gaap_ProceedsFromIssuanceOfLongTermDebt |
| Excess tax benefits from stock-based payment awards | 76.0us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities | 64.7us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities |
| Net proceeds from notes payable | 50.6us-gaap_ProceedsFromRepaymentsOfNotesPayable | 170.6us-gaap_ProceedsFromRepaymentsOfNotesPayable |
| Proceeds from exercises of employee stock options | 30.4us-gaap_ProceedsFromStockOptionsExercised | 93.1us-gaap_ProceedsFromStockOptionsExercised |
| Proceeds from employee stock purchases | 3.8us-gaap_ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans | 2.5us-gaap_ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans |
| Net cash (used in) provided by financing activities | (189.5)us-gaap_NetCashProvidedByUsedInFinancingActivities | 3,865.1us-gaap_NetCashProvidedByUsedInFinancingActivities |
| Effect of exchange rate changes on cash and cash investments | 2.5us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents | (3.0)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents |
| NET INCREASE (DECREASE) IN CASH AND CASH INVESTMENTS | 3.4us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease | (266.3)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease |
| CASH AND CASH INVESTMENTS, beginning of period | 63.9us-gaap_CashAndCashEquivalentsAtCarryingValue | 331.5us-gaap_CashAndCashEquivalentsAtCarryingValue |
| CASH AND CASH INVESTMENTS, end of period | 67.3us-gaap_CashAndCashEquivalentsAtCarryingValue | 65.2us-gaap_CashAndCashEquivalentsAtCarryingValue |
| Purchase of business | ||
| Net cash paid for purchase of business | 21.4us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired | 4,681.0us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired |
| Property, plant and equipment acquired under financing arrangements | 19.5us-gaap_CapitalExpendituresIncurredButNotYetPaid | 23.3us-gaap_CapitalExpendituresIncurredButNotYetPaid |
| Casa Noble [Member] | ||
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Purchase of business, net of cash acquired |
(21.4)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired / us-gaap_BusinessAcquisitionAxis = stz_CasaNobleMember |
|
| Purchase of business | ||
| Fair value of assets acquired, including cash acquired |
34.8us-gaap_NoncashOrPartNoncashAcquisitionValueOfAssetsAcquired1 / us-gaap_BusinessAcquisitionAxis = stz_CasaNobleMember |
|
| Liabilities assumed |
0us-gaap_NoncashOrPartNoncashAcquisitionValueOfLiabilitiesAssumed1 / us-gaap_BusinessAcquisitionAxis = stz_CasaNobleMember |
|
| Net assets acquired |
34.8us-gaap_NoncashOrPartNoncashAcquisitionNetNonmonetaryAssetsAcquiredLiabilitiesAssumed1 / us-gaap_BusinessAcquisitionAxis = stz_CasaNobleMember |
|
| Less: contingent consideration not yet paid |
(13.4)us-gaap_BusinessCombinationConsiderationTransferredLiabilitiesIncurred / us-gaap_BusinessAcquisitionAxis = stz_CasaNobleMember |
|
| Less - fair value of preexisting equity interest |
0us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeFairValue1 / us-gaap_BusinessAcquisitionAxis = stz_CasaNobleMember |
|
| Less - purchase price and working capital adjustments not yet paid |
0stz_BusinessAcquisitionPurchasePriceNotYetPaid / us-gaap_BusinessAcquisitionAxis = stz_CasaNobleMember |
|
| Less - cash acquired |
0us-gaap_CashAcquiredFromAcquisition / us-gaap_BusinessAcquisitionAxis = stz_CasaNobleMember |
|
| Net cash paid for purchase of business |
21.4us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired / us-gaap_BusinessAcquisitionAxis = stz_CasaNobleMember |
|
| Beer Business Acquisition [Member] | ||
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Purchase of business, net of cash acquired |
(4,681.0)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired / us-gaap_BusinessAcquisitionAxis = stz_BeerBusinessAcquisitionMember |
|
| Purchase of business | ||
| Fair value of assets acquired, including cash acquired |
7,465.7us-gaap_NoncashOrPartNoncashAcquisitionValueOfAssetsAcquired1 / us-gaap_BusinessAcquisitionAxis = stz_BeerBusinessAcquisitionMember |
|
| Liabilities assumed |
(287.5)us-gaap_NoncashOrPartNoncashAcquisitionValueOfLiabilitiesAssumed1 / us-gaap_BusinessAcquisitionAxis = stz_BeerBusinessAcquisitionMember |
|
| Net assets acquired |
7,178.2us-gaap_NoncashOrPartNoncashAcquisitionNetNonmonetaryAssetsAcquiredLiabilitiesAssumed1 / us-gaap_BusinessAcquisitionAxis = stz_BeerBusinessAcquisitionMember |
|
| Less: contingent consideration not yet paid |
0us-gaap_BusinessCombinationConsiderationTransferredLiabilitiesIncurred / us-gaap_BusinessAcquisitionAxis = stz_BeerBusinessAcquisitionMember |
|
| Less - fair value of preexisting equity interest |
(1,845.0)us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeFairValue1 / us-gaap_BusinessAcquisitionAxis = stz_BeerBusinessAcquisitionMember |
|
| Less - purchase price and working capital adjustments not yet paid |
(545.4)stz_BusinessAcquisitionPurchasePriceNotYetPaid / us-gaap_BusinessAcquisitionAxis = stz_BeerBusinessAcquisitionMember |
|
| Less - cash acquired |
(106.8)us-gaap_CashAcquiredFromAcquisition / us-gaap_BusinessAcquisitionAxis = stz_BeerBusinessAcquisitionMember |
|
| Net cash paid for purchase of business |
$ 4,681.0us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired / us-gaap_BusinessAcquisitionAxis = stz_BeerBusinessAcquisitionMember |
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| X | ||||||||||
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- Definition
Business Acquisition, Purchase Price Not Yet Paid No definition available.
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| X | ||||||||||
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- Definition
Business Combination, Payment of Delayed Purchase Price Arrangement No definition available.
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| X | ||||||||||
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- Definition
The aggregate amount of recurring noncash expense charged against earnings in the period to allocate the cost of assets over their estimated remaining economic lives. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The sum of adjustments which are added to or deducted from net income or loss, including the portion attributable to noncontrolling interest, to reflect cash provided by or used in operating activities, in accordance with the indirect cash flow method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Amount of noncash expense included in interest expense to issue debt and obtain financing associated with the related debt instruments. Alternate captions include noncash interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of liabilities incurred by the acquirer as part of consideration transferred in a business combination. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Fair value at acquisition-date of the equity interest in the acquiree held by the acquirer, immediately before the acquisition date for businesses combined in stages. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
In a business combination achieved in stages, this element represents the amount of gain recognized by the entity as a result of remeasuring to fair value the equity interest in the acquiree it held before the business combination. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Future cash outflow to pay for purchases of fixed assets that have occurred. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash inflow associated with the acquisition of business during the period (for example, cash that was held by the acquired business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of increase (decrease) from the effect of exchange rate changes on cash and cash equivalent balances held in foreign currencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of cash inflow from realized tax benefit related to deductible compensation cost reported on the entity's tax return for equity instruments in excess of the compensation cost for those instruments recognized for financial reporting purposes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total loss recognized during the period from the impairment of goodwill plus the loss recognized in the period resulting from the impairment of the carrying amount of intangible assets, other than goodwill. No definition available.
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| X | ||||||||||
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- Definition
This element represents the undistributed income (or loss) of equity method investments, net of dividends or other distributions received from unconsolidated subsidiaries, certain corporate joint ventures, and certain noncontrolled corporations; such investments are accounted for under the equity method of accounting. This element excludes distributions that constitute a return of investment, which are classified as investing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in the aggregate amount of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in other expenses incurred but not yet paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in the value of prepaid expenses and other assets not separately disclosed in the statement of cash flows, for example, deferred expenses, intangible assets, or income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the period in the amount of cash payments due to taxing authorities for non-income-related taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The net book value of a nonmonetary asset transferred or exchanged in connection with the acquisition of a business or asset in a noncash transaction. Noncash is defined as transactions during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. Nonmonetary assets and liabilities are assets and liabilities that will not result in cash receipts or cash payments in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The value of an asset or business acquired in a noncash (or part noncash) acquisition. Noncash is defined as information about all investing and financing activities of an enterprise during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The total amount of [all] liabilities that an Entity assumes in acquiring a business or in consideration for an asset received in a noncash (or part noncash) acquisition. Noncash is defined as transactions during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Other expenses or losses included in net income that result in no cash outflows or inflows in the period and are not separately disclosed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Other cash or noncash adjustments to reconcile net income to cash provided by (used in) operating activities that are not separately disclosed in the statement of cash flows (for example, cash received or cash paid during the current period for miscellaneous operating activities, net change during the reporting period in other assets or other liabilities). No definition available.
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| X | ||||||||||
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- Definition
The net cash outflow or inflow from other investing activities. This element is used when there is not a more specific and appropriate element in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash outflow for loan and debt issuance costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of cash outflow to satisfy an employee's income tax withholding obligation as part of a net-share settlement of a share-based award. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash outflow associated with the acquisition of a business, net of the cash acquired from the purchase. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash inflow from a debt initially having maturity due after one year or beyond the operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash inflow associated with the amount received from holders to acquire the entity's shares under incentive and share awards other than stock option exercises. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately. No definition available.
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| X | ||||||||||
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- Definition
Amount of cash inflow (outflow) from long-term debt supported by a written promise to pay an obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash inflow associated with the amount received from holders exercising their stock options. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash outflow for debt initially having maturity due after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Details
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