| Condensed Consolidating Balance Sheet |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Balance Sheet at November 30, 2014 |
Current assets: |
|
|
|
|
|
|
|
|
|
Cash and cash investments |
$ |
22.4 |
|
|
$ |
0.8 |
|
|
$ |
44.1 |
|
|
$ |
— |
|
|
$ |
67.3 |
|
Accounts receivable, net |
0.3 |
|
|
12.1 |
|
|
688.9 |
|
|
— |
|
|
701.3 |
|
Inventories |
154.9 |
|
|
1,452.0 |
|
|
398.1 |
|
|
(77.8 |
) |
|
1,927.2 |
|
Intercompany receivable |
12,024.9 |
|
|
19,052.3 |
|
|
5,604.5 |
|
|
(36,681.7 |
) |
|
— |
|
Prepaid expenses and other |
46.5 |
|
|
71.8 |
|
|
679.0 |
|
|
(462.3 |
) |
|
335.0 |
|
Total current assets |
12,249.0 |
|
|
20,589.0 |
|
|
7,414.6 |
|
|
(37,221.8 |
) |
|
3,030.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Property, plant and equipment, net |
55.4 |
|
|
862.9 |
|
|
1,500.8 |
|
|
— |
|
|
2,419.1 |
|
Investments in subsidiaries |
11,514.9 |
|
|
12.8 |
|
|
— |
|
|
(11,527.7 |
) |
|
— |
|
Goodwill |
— |
|
|
5,411.1 |
|
|
752.8 |
|
|
— |
|
|
6,163.9 |
|
Intangible assets, net |
— |
|
|
705.8 |
|
|
2,486.0 |
|
|
3.1 |
|
|
3,194.9 |
|
Intercompany notes receivable |
3,889.4 |
|
|
131.1 |
|
|
— |
|
|
(4,020.5 |
) |
|
— |
|
Other assets, net |
64.5 |
|
|
78.8 |
|
|
28.5 |
|
|
— |
|
|
171.8 |
|
Total assets |
$ |
27,773.2 |
|
|
$ |
27,791.5 |
|
|
$ |
12,182.7 |
|
|
$ |
(52,766.9 |
) |
|
$ |
14,980.5 |
|
|
|
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
|
Notes payable to banks |
$ |
— |
|
|
$ |
— |
|
|
$ |
100.3 |
|
|
$ |
— |
|
|
$ |
100.3 |
|
Current maturities of long-term debt |
77.9 |
|
|
17.6 |
|
|
41.5 |
|
|
— |
|
|
137.0 |
|
Accounts payable |
29.5 |
|
|
248.9 |
|
|
167.5 |
|
|
— |
|
|
445.9 |
|
Accrued excise taxes |
13.6 |
|
|
6.1 |
|
|
5.2 |
|
|
— |
|
|
24.9 |
|
Intercompany payable |
15,632.1 |
|
|
15,055.8 |
|
|
5,993.8 |
|
|
(36,681.7 |
) |
|
— |
|
Other accrued expenses and liabilities |
694.3 |
|
|
144.4 |
|
|
188.4 |
|
|
(486.7 |
) |
|
540.4 |
|
Total current liabilities |
16,447.4 |
|
|
15,472.8 |
|
|
6,496.7 |
|
|
(37,168.4 |
) |
|
1,248.5 |
|
Long-term debt, less current maturities |
5,631.5 |
|
|
33.8 |
|
|
1,416.2 |
|
|
— |
|
|
7,081.5 |
|
Deferred income taxes |
13.9 |
|
|
616.9 |
|
|
200.6 |
|
|
— |
|
|
831.4 |
|
Intercompany notes payable |
— |
|
|
3,822.3 |
|
|
198.2 |
|
|
(4,020.5 |
) |
|
— |
|
Other liabilities |
45.4 |
|
|
31.2 |
|
|
107.5 |
|
|
— |
|
|
184.1 |
|
Stockholders’ equity |
5,635.0 |
|
|
7,814.5 |
|
|
3,763.5 |
|
|
(11,578.0 |
) |
|
5,635.0 |
|
Total liabilities and stockholders’ equity |
$ |
27,773.2 |
|
|
$ |
27,791.5 |
|
|
$ |
12,182.7 |
|
|
$ |
(52,766.9 |
) |
|
$ |
14,980.5 |
|
|
|
|
|
|
|
|
|
|
|
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 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
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 Nine Months Ended November 30, 2014 |
Sales |
$ |
1,802.0 |
|
|
$ |
3,927.3 |
|
|
$ |
2,300.8 |
|
|
$ |
(2,864.4 |
) |
|
$ |
5,165.7 |
|
Less – excise taxes |
(241.9 |
) |
|
(204.3 |
) |
|
(47.7 |
) |
|
— |
|
|
(493.9 |
) |
Net sales |
1,560.1 |
|
|
3,723.0 |
|
|
2,253.1 |
|
|
(2,864.4 |
) |
|
4,671.8 |
|
Cost of product sold |
(1,259.0 |
) |
|
(2,849.7 |
) |
|
(1,423.8 |
) |
|
2,841.7 |
|
|
(2,690.8 |
) |
Gross profit |
301.1 |
|
|
873.3 |
|
|
829.3 |
|
|
(22.7 |
) |
|
1,981.0 |
|
Selling, general and administrative expenses |
(291.2 |
) |
|
(410.4 |
) |
|
(145.1 |
) |
|
12.2 |
|
|
(834.5 |
) |
Operating income |
9.9 |
|
|
462.9 |
|
|
684.2 |
|
|
(10.5 |
) |
|
1,146.5 |
|
Equity in earnings of equity method investees and subsidiaries |
761.3 |
|
|
23.5 |
|
|
1.0 |
|
|
(764.7 |
) |
|
21.1 |
|
Interest income |
— |
|
|
— |
|
|
1.0 |
|
|
— |
|
|
1.0 |
|
Intercompany interest income |
133.2 |
|
|
162.5 |
|
|
0.2 |
|
|
(295.9 |
) |
|
— |
|
Interest expense |
(224.4 |
) |
|
(1.0 |
) |
|
(33.0 |
) |
|
— |
|
|
(258.4 |
) |
Intercompany interest expense |
(162.1 |
) |
|
(133.0 |
) |
|
(0.8 |
) |
|
295.9 |
|
|
— |
|
Loss on write-off of financing costs |
— |
|
|
— |
|
|
(4.4 |
) |
|
— |
|
|
(4.4 |
) |
Income before income taxes |
517.9 |
|
|
514.9 |
|
|
648.2 |
|
|
(775.2 |
) |
|
905.8 |
|
Benefit from (provision for) income taxes |
106.8 |
|
|
(192.0 |
) |
|
(198.9 |
) |
|
3.0 |
|
|
(281.1 |
) |
Net income |
$ |
624.7 |
|
|
$ |
322.9 |
|
|
$ |
449.3 |
|
|
$ |
(772.2 |
) |
|
$ |
624.7 |
|
Comprehensive income |
$ |
530.1 |
|
|
$ |
324.7 |
|
|
$ |
350.9 |
|
|
$ |
(675.6 |
) |
|
$ |
530.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Comprehensive Income for the Nine Months Ended November 30, 2013 |
Sales |
$ |
1,762.9 |
|
|
$ |
2,815.8 |
|
|
$ |
1,413.2 |
|
|
$ |
(2,018.9 |
) |
|
$ |
3,973.0 |
|
Less – excise taxes |
(234.2 |
) |
|
(110.3 |
) |
|
(52.0 |
) |
|
— |
|
|
(396.5 |
) |
Net sales |
1,528.7 |
|
|
2,705.5 |
|
|
1,361.2 |
|
|
(2,018.9 |
) |
|
3,576.5 |
|
Cost of product sold |
(1,303.8 |
) |
|
(1,871.8 |
) |
|
(931.3 |
) |
|
1,973.2 |
|
|
(2,133.7 |
) |
Gross profit |
224.9 |
|
|
833.7 |
|
|
429.9 |
|
|
(45.7 |
) |
|
1,442.8 |
|
Selling, general and administrative expenses |
(315.0 |
) |
|
(260.8 |
) |
|
(112.6 |
) |
|
12.8 |
|
|
(675.6 |
) |
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 |
(90.1 |
) |
|
2,214.9 |
|
|
16.4 |
|
|
(32.9 |
) |
|
2,108.3 |
|
Equity in earnings of equity method investees and subsidiaries |
2,008.4 |
|
|
92.8 |
|
|
0.4 |
|
|
(2,013.3 |
) |
|
88.3 |
|
Interest income |
0.1 |
|
|
— |
|
|
5.8 |
|
|
— |
|
|
5.9 |
|
Intercompany interest income |
117.3 |
|
|
122.8 |
|
|
1.1 |
|
|
(241.2 |
) |
|
— |
|
Interest expense |
(206.5 |
) |
|
(3.5 |
) |
|
(30.6 |
) |
|
— |
|
|
(240.6 |
) |
Intercompany interest expense |
(130.3 |
) |
|
(110.4 |
) |
|
(0.5 |
) |
|
241.2 |
|
|
— |
|
Income (loss) before income taxes |
1,698.9 |
|
|
2,316.6 |
|
|
(7.4 |
) |
|
(2,046.2 |
) |
|
1,961.9 |
|
Benefit from (provision for) income taxes |
87.0 |
|
|
(246.3 |
) |
|
(26.2 |
) |
|
9.5 |
|
|
(176.0 |
) |
Net income (loss) |
$ |
1,785.9 |
|
|
$ |
2,070.3 |
|
|
$ |
(33.6 |
) |
|
$ |
(2,036.7 |
) |
|
$ |
1,785.9 |
|
Comprehensive income (loss) |
$ |
1,747.8 |
|
|
$ |
2,098.9 |
|
|
$ |
(77.4 |
) |
|
$ |
(2,021.5 |
) |
|
$ |
1,747.8 |
|
|
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Comprehensive Income for the Three Months Ended November 30, 2014 |
Sales |
$ |
662.8 |
|
|
$ |
1,267.8 |
|
|
$ |
695.4 |
|
|
$ |
(917.4 |
) |
|
$ |
1,708.6 |
|
Less – excise taxes |
(88.7 |
) |
|
(65.2 |
) |
|
(13.0 |
) |
|
— |
|
|
(166.9 |
) |
Net sales |
574.1 |
|
|
1,202.6 |
|
|
682.4 |
|
|
(917.4 |
) |
|
1,541.7 |
|
Cost of product sold |
(462.1 |
) |
|
(943.3 |
) |
|
(410.9 |
) |
|
913.5 |
|
|
(902.8 |
) |
Gross profit |
112.0 |
|
|
259.3 |
|
|
271.5 |
|
|
(3.9 |
) |
|
638.9 |
|
Selling, general and administrative expenses |
(97.1 |
) |
|
(109.4 |
) |
|
(61.6 |
) |
|
4.8 |
|
|
(263.3 |
) |
Operating income |
14.9 |
|
|
149.9 |
|
|
209.9 |
|
|
0.9 |
|
|
375.6 |
|
Equity in earnings of equity method investees and subsidiaries |
252.3 |
|
|
21.7 |
|
|
0.4 |
|
|
(253.2 |
) |
|
21.2 |
|
Interest income |
— |
|
|
— |
|
|
0.4 |
|
|
— |
|
|
0.4 |
|
Intercompany interest income |
44.7 |
|
|
58.7 |
|
|
— |
|
|
(103.4 |
) |
|
— |
|
Interest expense |
(78.4 |
) |
|
(0.3 |
) |
|
(7.7 |
) |
|
— |
|
|
(86.4 |
) |
Intercompany interest expense |
(58.6 |
) |
|
(44.6 |
) |
|
(0.2 |
) |
|
103.4 |
|
|
— |
|
Income before income taxes |
174.9 |
|
|
185.4 |
|
|
202.8 |
|
|
(252.3 |
) |
|
310.8 |
|
Benefit from (provision for) income taxes |
47.3 |
|
|
(68.9 |
) |
|
(66.5 |
) |
|
(0.5 |
) |
|
(88.6 |
) |
Net income |
$ |
222.2 |
|
|
$ |
116.5 |
|
|
$ |
136.3 |
|
|
$ |
(252.8 |
) |
|
$ |
222.2 |
|
Comprehensive income |
$ |
108.8 |
|
|
$ |
117.2 |
|
|
$ |
21.5 |
|
|
$ |
(138.7 |
) |
|
$ |
108.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Comprehensive Income for the Three Months Ended November 30, 2013 |
Sales |
$ |
641.1 |
|
|
$ |
1,182.4 |
|
|
$ |
591.6 |
|
|
$ |
(821.6 |
) |
|
$ |
1,593.5 |
|
Less – excise taxes |
(80.9 |
) |
|
(51.2 |
) |
|
(18.1 |
) |
|
— |
|
|
(150.2 |
) |
Net sales |
560.2 |
|
|
1,131.2 |
|
|
573.5 |
|
|
(821.6 |
) |
|
1,443.3 |
|
Cost of product sold |
(478.8 |
) |
|
(779.1 |
) |
|
(391.4 |
) |
|
815.7 |
|
|
(833.6 |
) |
Gross profit |
81.4 |
|
|
352.1 |
|
|
182.1 |
|
|
(5.9 |
) |
|
609.7 |
|
Selling, general and administrative expenses |
(95.6 |
) |
|
(116.3 |
) |
|
(38.5 |
) |
|
4.5 |
|
|
(245.9 |
) |
Operating (loss) income |
(14.2 |
) |
|
235.8 |
|
|
143.6 |
|
|
(1.4 |
) |
|
363.8 |
|
Equity in earnings of equity method investees and subsidiaries |
285.6 |
|
|
18.7 |
|
|
0.2 |
|
|
(286.5 |
) |
|
18.0 |
|
Interest income |
— |
|
|
— |
|
|
2.0 |
|
|
— |
|
|
2.0 |
|
Intercompany interest income |
46.6 |
|
|
44.9 |
|
|
0.3 |
|
|
(91.8 |
) |
|
— |
|
Interest expense |
(75.7 |
) |
|
(0.5 |
) |
|
(15.4 |
) |
|
— |
|
|
(91.6 |
) |
Intercompany interest expense |
(47.6 |
) |
|
(44.0 |
) |
|
(0.2 |
) |
|
91.8 |
|
|
— |
|
Income before income taxes |
194.7 |
|
|
254.9 |
|
|
130.5 |
|
|
(287.9 |
) |
|
292.2 |
|
Benefit from (provision for) income taxes |
16.3 |
|
|
(93.3 |
) |
|
(4.5 |
) |
|
0.3 |
|
|
(81.2 |
) |
Net income |
$ |
211.0 |
|
|
$ |
161.6 |
|
|
$ |
126.0 |
|
|
$ |
(287.6 |
) |
|
$ |
211.0 |
|
Comprehensive income |
$ |
240.4 |
|
|
$ |
183.1 |
|
|
$ |
157.0 |
|
|
$ |
(340.1 |
) |
|
$ |
240.4 |
|
|
| Condensed Consolidating Statement of Cash Flows |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Cash Flows for the Nine Months Ended November 30, 2014 |
Net cash (used in) provided by operating activities |
$ |
(395.1 |
) |
|
$ |
468.9 |
|
|
$ |
676.3 |
|
|
$ |
— |
|
|
$ |
750.1 |
|
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
|
Purchases of property, plant and equipment |
(17.4 |
) |
|
(70.3 |
) |
|
(453.6 |
) |
|
— |
|
|
(541.3 |
) |
Purchase of business, net of cash acquired |
— |
|
|
— |
|
|
(21.4 |
) |
|
— |
|
|
(21.4 |
) |
Net proceeds from intercompany notes |
70.9 |
|
|
— |
|
|
— |
|
|
(70.9 |
) |
|
— |
|
Net investments in equity affiliates |
(28.8 |
) |
|
— |
|
|
— |
|
|
28.8 |
|
|
— |
|
Other investing activities |
— |
|
|
(5.6 |
) |
|
8.6 |
|
|
— |
|
|
3.0 |
|
Net cash provided by (used in) investing activities |
24.7 |
|
|
(75.9 |
) |
|
(466.4 |
) |
|
(42.1 |
) |
|
(559.7 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
|
Payments of dividends |
— |
|
|
— |
|
|
(24.9 |
) |
|
24.9 |
|
|
— |
|
Net (returns of capital to) contributions from equity affiliates |
— |
|
|
(24.5 |
) |
|
78.2 |
|
|
(53.7 |
) |
|
— |
|
Net proceeds from (repayments of) intercompany notes |
26.3 |
|
|
(327.9 |
) |
|
230.7 |
|
|
70.9 |
|
|
— |
|
Principal payments of long-term debt |
(533.0 |
) |
|
(14.5 |
) |
|
(17.8 |
) |
|
— |
|
|
(565.3 |
) |
Payment of delayed purchase price arrangement |
— |
|
|
— |
|
|
(543.3 |
) |
|
— |
|
|
(543.3 |
) |
Payments of minimum tax withholdings on stock-based payment awards |
— |
|
|
(26.1 |
) |
|
(2.3 |
) |
|
— |
|
|
(28.4 |
) |
Payments of financing costs of long-term debt |
(11.2 |
) |
|
— |
|
|
(2.1 |
) |
|
— |
|
|
(13.3 |
) |
Proceeds from issuance of long-term debt |
800.0 |
|
|
— |
|
|
— |
|
|
— |
|
|
800.0 |
|
Excess tax benefits from stock-based payment awards |
76.0 |
|
|
— |
|
|
— |
|
|
— |
|
|
76.0 |
|
Net proceeds from notes payable |
— |
|
|
— |
|
|
50.6 |
|
|
— |
|
|
50.6 |
|
Proceeds from exercises of employee stock options |
30.4 |
|
|
— |
|
|
— |
|
|
— |
|
|
30.4 |
|
Proceeds from employee stock purchases |
3.8 |
|
|
— |
|
|
— |
|
|
— |
|
|
3.8 |
|
Net cash provided by (used in) financing activities |
392.3 |
|
|
(393.0 |
) |
|
(230.9 |
) |
|
42.1 |
|
|
(189.5 |
) |
|
|
|
|
|
|
|
|
|
|
Effect of exchange rate changes on cash and cash investments |
— |
|
|
— |
|
|
2.5 |
|
|
— |
|
|
2.5 |
|
|
|
|
|
|
|
|
|
|
|
Net increase (decrease) in cash and cash investments |
21.9 |
|
|
— |
|
|
(18.5 |
) |
|
— |
|
|
3.4 |
|
Cash and cash investments, beginning of period |
0.5 |
|
|
0.8 |
|
|
62.6 |
|
|
— |
|
|
63.9 |
|
Cash and cash investments, end of period |
$ |
22.4 |
|
|
$ |
0.8 |
|
|
$ |
44.1 |
|
|
$ |
— |
|
|
$ |
67.3 |
|
|
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Cash Flows for the Nine Months Ended November 30, 2013 |
Net cash (used in) provided by operating activities |
$ |
(266.2 |
) |
|
$ |
910.0 |
|
|
$ |
4.1 |
|
|
$ |
(18.8 |
) |
|
$ |
629.1 |
|
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
|
Purchases of property, plant and equipment |
(5.7 |
) |
|
(45.9 |
) |
|
(34.3 |
) |
|
— |
|
|
(85.9 |
) |
Purchase of business, net of cash acquired |
— |
|
|
(1,770.1 |
) |
|
(2,910.9 |
) |
|
— |
|
|
(4,681.0 |
) |
Net proceeds from intercompany notes |
859.2 |
|
|
— |
|
|
— |
|
|
(859.2 |
) |
|
— |
|
Net investments in equity affiliates |
(1,095.0 |
) |
|
(5.0 |
) |
|
— |
|
|
1,100.0 |
|
|
— |
|
Other investing activities |
— |
|
|
2.4 |
|
|
7.0 |
|
|
— |
|
|
9.4 |
|
Net cash used in investing activities |
(241.5 |
) |
|
(1,818.6 |
) |
|
(2,938.2 |
) |
|
240.8 |
|
|
(4,757.5 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
|
Payments of dividends |
— |
|
|
— |
|
|
(18.8 |
) |
|
18.8 |
|
|
— |
|
Net (returns of capital to) contributions from equity affiliates |
— |
|
|
(188.4 |
) |
|
1,288.4 |
|
|
(1,100.0 |
) |
|
— |
|
Net (repayments of) proceeds from intercompany notes |
(1,941.5 |
) |
|
1,129.9 |
|
|
(47.6 |
) |
|
859.2 |
|
|
— |
|
Principal payments of long-term debt |
(49.3 |
) |
|
(15.0 |
) |
|
(26.3 |
) |
|
— |
|
|
(90.6 |
) |
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 |
) |
Proceeds from issuance of long-term debt |
2,225.0 |
|
|
— |
|
|
1,500.0 |
|
|
— |
|
|
3,725.0 |
|
Excess tax benefits from stock-based payment awards |
64.7 |
|
|
— |
|
|
— |
|
|
— |
|
|
64.7 |
|
Net proceeds from notes payable |
— |
|
|
— |
|
|
170.6 |
|
|
— |
|
|
170.6 |
|
Proceeds from exercises of employee stock options |
93.1 |
|
|
— |
|
|
— |
|
|
— |
|
|
93.1 |
|
Proceeds from employee stock purchases |
2.5 |
|
|
— |
|
|
— |
|
|
— |
|
|
2.5 |
|
Net cash provided by financing activities |
324.9 |
|
|
910.1 |
|
|
2,852.1 |
|
|
(222.0 |
) |
|
3,865.1 |
|
|
|
|
|
|
|
|
|
|
|
|
Effect of exchange rate changes on cash
and cash investments
|
— |
|
|
— |
|
|
(3.0 |
) |
|
— |
|
|
(3.0 |
) |
|
|
|
|
|
|
|
|
|
|
Net (decrease) increase in cash and cash investments |
(182.8 |
) |
|
1.5 |
|
|
(85.0 |
) |
|
— |
|
|
(266.3 |
) |
Cash and cash investments, beginning of period |
185.8 |
|
|
0.7 |
|
|
145.0 |
|
|
— |
|
|
331.5 |
|
Cash and cash investments, end of period |
$ |
3.0 |
|
|
$ |
2.2 |
|
|
$ |
60.0 |
|
|
$ |
— |
|
|
$ |
65.2 |
|
|