Condensed Consolidating Financial Information (Tables)
|
12 Months Ended |
Feb. 28, 2017 |
|---|
| Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
|
| Condensed Consolidating Balance Sheet |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Balance Sheet at February 28, 2017 |
Current assets: |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
$ |
9.6 |
|
|
$ |
5.8 |
|
|
$ |
162.0 |
|
|
$ |
— |
|
|
$ |
177.4 |
|
Accounts receivable |
2.4 |
|
|
18.5 |
|
|
716.1 |
|
|
— |
|
|
737.0 |
|
Inventories |
162.3 |
|
|
1,628.5 |
|
|
330.9 |
|
|
(166.6 |
) |
|
1,955.1 |
|
Intercompany receivable |
21,927.8 |
|
|
28,384.7 |
|
|
12,410.6 |
|
|
(62,723.1 |
) |
|
— |
|
Prepaid expenses and other |
40.4 |
|
|
74.8 |
|
|
169.0 |
|
|
76.3 |
|
|
360.5 |
|
Total current assets |
22,142.5 |
|
|
30,112.3 |
|
|
13,788.6 |
|
|
(62,813.4 |
) |
|
3,230.0 |
|
Property, plant and equipment |
69.5 |
|
|
951.1 |
|
|
2,912.2 |
|
|
— |
|
|
3,932.8 |
|
Investments in subsidiaries |
13,884.2 |
|
|
125.0 |
|
|
— |
|
|
(14,009.2 |
) |
|
— |
|
Goodwill |
— |
|
|
6,589.9 |
|
|
1,330.6 |
|
|
— |
|
|
7,920.5 |
|
Intangible assets |
— |
|
|
955.1 |
|
|
2,422.6 |
|
|
— |
|
|
3,377.7 |
|
Intercompany notes receivable |
5,074.5 |
|
|
188.3 |
|
|
100.6 |
|
|
(5,363.4 |
) |
|
— |
|
Other assets |
17.9 |
|
|
77.2 |
|
|
46.3 |
|
|
— |
|
|
141.4 |
|
Total assets |
$ |
41,188.6 |
|
|
$ |
38,998.9 |
|
|
$ |
20,600.9 |
|
|
$ |
(82,186.0 |
) |
|
$ |
18,602.4 |
|
|
|
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
|
Notes payable to banks |
$ |
231.0 |
|
|
$ |
— |
|
|
$ |
375.5 |
|
|
$ |
— |
|
|
$ |
606.5 |
|
Current maturities of long-term debt |
767.9 |
|
|
16.3 |
|
|
126.7 |
|
|
— |
|
|
910.9 |
|
Accounts payable |
47.6 |
|
|
146.2 |
|
|
366.0 |
|
|
— |
|
|
559.8 |
|
Accrued excise taxes |
17.8 |
|
|
26.0 |
|
|
0.8 |
|
|
— |
|
|
44.6 |
|
Intercompany payable |
27,675.4 |
|
|
22,786.3 |
|
|
12,261.4 |
|
|
(62,723.1 |
) |
|
— |
|
Other accrued expenses and liabilities |
252.4 |
|
|
138.8 |
|
|
153.0 |
|
|
31.6 |
|
|
575.8 |
|
Total current liabilities |
28,992.1 |
|
|
23,113.6 |
|
|
13,283.4 |
|
|
(62,691.5 |
) |
|
2,697.6 |
|
Long-term debt, less current maturities |
5,260.2 |
|
|
23.0 |
|
|
2,437.5 |
|
|
— |
|
|
7,720.7 |
|
Deferred income taxes |
13.3 |
|
|
823.2 |
|
|
297.1 |
|
|
— |
|
|
1,133.6 |
|
Intercompany notes payable |
— |
|
|
5,334.0 |
|
|
29.4 |
|
|
(5,363.4 |
) |
|
— |
|
Other liabilities |
31.8 |
|
|
18.9 |
|
|
115.0 |
|
|
— |
|
|
165.7 |
|
Total liabilities |
34,297.4 |
|
|
29,312.7 |
|
|
16,162.4 |
|
|
(68,054.9 |
) |
|
11,717.6 |
|
Total CBI stockholders’ equity |
6,891.2 |
|
|
9,686.2 |
|
|
4,444.9 |
|
|
(14,131.1 |
) |
|
6,891.2 |
|
Noncontrolling interests |
— |
|
|
— |
|
|
(6.4 |
) |
|
— |
|
|
(6.4 |
) |
Total stockholders’ equity |
6,891.2 |
|
|
9,686.2 |
|
|
4,438.5 |
|
|
(14,131.1 |
) |
|
6,884.8 |
|
Total liabilities and stockholders’ equity |
$ |
41,188.6 |
|
|
$ |
38,998.9 |
|
|
$ |
20,600.9 |
|
|
$ |
(82,186.0 |
) |
|
$ |
18,602.4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Balance Sheet at February 29, 2016 |
Current assets: |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
$ |
6.0 |
|
|
$ |
4.2 |
|
|
$ |
72.9 |
|
|
$ |
— |
|
|
$ |
83.1 |
|
Accounts receivable |
0.4 |
|
|
22.3 |
|
|
709.8 |
|
|
— |
|
|
732.5 |
|
Inventories |
151.6 |
|
|
1,483.5 |
|
|
344.0 |
|
|
(127.5 |
) |
|
1,851.6 |
|
Intercompany receivable |
17,459.3 |
|
|
23,758.9 |
|
|
9,393.5 |
|
|
(50,611.7 |
) |
|
— |
|
Prepaid expenses and other |
29.6 |
|
|
67.8 |
|
|
281.1 |
|
|
(68.1 |
) |
|
310.4 |
|
Total current assets |
17,646.9 |
|
|
25,336.7 |
|
|
10,801.3 |
|
|
(50,807.3 |
) |
|
2,977.6 |
|
Property, plant and equipment |
63.2 |
|
|
879.8 |
|
|
2,390.4 |
|
|
— |
|
|
3,333.4 |
|
Investments in subsidiaries |
13,047.2 |
|
|
19.0 |
|
|
— |
|
|
(13,066.2 |
) |
|
— |
|
Goodwill |
— |
|
|
6,376.4 |
|
|
762.2 |
|
|
— |
|
|
7,138.6 |
|
Intangible assets |
— |
|
|
970.9 |
|
|
2,430.8 |
|
|
2.1 |
|
|
3,403.8 |
|
Intercompany notes receivable |
4,705.9 |
|
|
86.6 |
|
|
— |
|
|
(4,792.5 |
) |
|
— |
|
Other assets |
20.0 |
|
|
69.6 |
|
|
22.0 |
|
|
— |
|
|
111.6 |
|
Total assets |
$ |
35,483.2 |
|
|
$ |
33,739.0 |
|
|
$ |
16,406.7 |
|
|
$ |
(68,663.9 |
) |
|
$ |
16,965.0 |
|
|
|
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
|
Notes payable to banks |
$ |
— |
|
|
$ |
— |
|
|
$ |
408.3 |
|
|
$ |
— |
|
|
$ |
408.3 |
|
Current maturities of long-term debt |
765.6 |
|
|
18.0 |
|
|
73.1 |
|
|
— |
|
|
856.7 |
|
Accounts payable |
37.7 |
|
|
100.7 |
|
|
290.9 |
|
|
— |
|
|
429.3 |
|
Accrued excise taxes |
14.7 |
|
|
14.7 |
|
|
4.2 |
|
|
— |
|
|
33.6 |
|
Intercompany payable |
22,293.3 |
|
|
19,018.6 |
|
|
9,299.8 |
|
|
(50,611.7 |
) |
|
— |
|
Other accrued expenses and liabilities |
349.1 |
|
|
185.1 |
|
|
119.4 |
|
|
(109.2 |
) |
|
544.4 |
|
Total current liabilities |
23,460.4 |
|
|
19,337.1 |
|
|
10,195.7 |
|
|
(50,720.9 |
) |
|
2,272.3 |
|
Long-term debt, less current maturities |
5,421.4 |
|
|
26.3 |
|
|
1,368.5 |
|
|
— |
|
|
6,816.2 |
|
Deferred income taxes |
11.9 |
|
|
734.8 |
|
|
275.5 |
|
|
— |
|
|
1,022.2 |
|
Intercompany notes payable |
— |
|
|
4,776.6 |
|
|
15.9 |
|
|
(4,792.5 |
) |
|
— |
|
Other liabilities |
29.9 |
|
|
39.1 |
|
|
93.5 |
|
|
— |
|
|
162.5 |
|
Total liabilities |
28,923.6 |
|
|
24,913.9 |
|
|
11,949.1 |
|
|
(55,513.4 |
) |
|
10,273.2 |
|
Total CBI stockholders’ equity |
6,559.6 |
|
|
8,825.1 |
|
|
4,325.4 |
|
|
(13,150.5 |
) |
|
6,559.6 |
|
Noncontrolling interests |
— |
|
|
— |
|
|
132.2 |
|
|
— |
|
|
132.2 |
|
Total stockholders’ equity |
6,559.6 |
|
|
8,825.1 |
|
|
4,457.6 |
|
|
(13,150.5 |
) |
|
6,691.8 |
|
Total liabilities and stockholders’ equity |
$ |
35,483.2 |
|
|
$ |
33,739.0 |
|
|
$ |
16,406.7 |
|
|
$ |
(68,663.9 |
) |
|
$ |
16,965.0 |
|
|
| Condensed Consolidating Statement of Comprehensive Income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Comprehensive Income for the Year Ended February 28, 2017 |
Sales |
$ |
2,832.6 |
|
|
$ |
6,453.2 |
|
|
$ |
3,125.0 |
|
|
$ |
(4,349.2 |
) |
|
$ |
8,061.6 |
|
Less – excise taxes |
(351.9 |
) |
|
(321.1 |
) |
|
(57.1 |
) |
|
— |
|
|
(730.1 |
) |
Net sales |
2,480.7 |
|
|
6,132.1 |
|
|
3,067.9 |
|
|
(4,349.2 |
) |
|
7,331.5 |
|
Cost of product sold |
(1,974.5 |
) |
|
(4,433.1 |
) |
|
(1,653.8 |
) |
|
4,259.3 |
|
|
(3,802.1 |
) |
Gross profit |
506.2 |
|
|
1,699.0 |
|
|
1,414.1 |
|
|
(89.9 |
) |
|
3,529.4 |
|
Selling, general and administrative expenses |
(417.2 |
) |
|
(800.8 |
) |
|
(222.8 |
) |
|
48.4 |
|
|
(1,392.4 |
) |
Gain on sale of business |
(23.4 |
) |
|
(4.3 |
) |
|
290.1 |
|
|
— |
|
|
262.4 |
|
Operating income |
65.6 |
|
|
893.9 |
|
|
1,481.4 |
|
|
(41.5 |
) |
|
2,399.4 |
|
Equity in earnings (losses) of equity method investees and subsidiaries |
1,657.4 |
|
|
33.3 |
|
|
(0.8 |
) |
|
(1,662.6 |
) |
|
27.3 |
|
Interest income |
0.4 |
|
|
— |
|
|
1.4 |
|
|
— |
|
|
1.8 |
|
Intercompany interest income |
227.1 |
|
|
311.5 |
|
|
— |
|
|
(538.6 |
) |
|
— |
|
Interest expense |
(280.0 |
) |
|
(1.5 |
) |
|
(53.6 |
) |
|
— |
|
|
(335.1 |
) |
Intercompany interest expense |
(311.1 |
) |
|
(226.7 |
) |
|
(0.8 |
) |
|
538.6 |
|
|
— |
|
Income before income taxes |
1,359.4 |
|
|
1,010.5 |
|
|
1,427.6 |
|
|
(1,704.1 |
) |
|
2,093.4 |
|
(Provision for) benefit from income taxes |
175.7 |
|
|
(396.2 |
) |
|
(337.2 |
) |
|
3.5 |
|
|
(554.2 |
) |
Net income |
1,535.1 |
|
|
614.3 |
|
|
1,090.4 |
|
|
(1,700.6 |
) |
|
1,539.2 |
|
Net income attributable to noncontrolling interests |
— |
|
|
— |
|
|
(4.1 |
) |
|
— |
|
|
(4.1 |
) |
Net income attributable to CBI |
$ |
1,535.1 |
|
|
$ |
614.3 |
|
|
$ |
1,086.3 |
|
|
$ |
(1,700.6 |
) |
|
$ |
1,535.1 |
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income attributable to CBI |
$ |
1,587.8 |
|
|
$ |
614.1 |
|
|
$ |
1,108.7 |
|
|
$ |
(1,722.8 |
) |
|
$ |
1,587.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Comprehensive Income for the Year Ended February 29, 2016 |
Sales |
$ |
2,522.8 |
|
|
$ |
5,614.9 |
|
|
$ |
3,024.5 |
|
|
$ |
(3,938.4 |
) |
|
$ |
7,223.8 |
|
Less – excise taxes |
(332.6 |
) |
|
(281.1 |
) |
|
(61.7 |
) |
|
— |
|
|
(675.4 |
) |
Net sales |
2,190.2 |
|
|
5,333.8 |
|
|
2,962.8 |
|
|
(3,938.4 |
) |
|
6,548.4 |
|
Cost of product sold |
(1,759.6 |
) |
|
(3,906.2 |
) |
|
(1,823.8 |
) |
|
3,883.5 |
|
|
(3,606.1 |
) |
Gross profit |
430.6 |
|
|
1,427.6 |
|
|
1,139.0 |
|
|
(54.9 |
) |
|
2,942.3 |
|
Selling, general and administrative expenses |
(378.4 |
) |
|
(652.6 |
) |
|
(176.5 |
) |
|
30.3 |
|
|
(1,177.2 |
) |
Operating income |
52.2 |
|
|
775.0 |
|
|
962.5 |
|
|
(24.6 |
) |
|
1,765.1 |
|
Equity in earnings of equity method investees and subsidiaries |
1,224.2 |
|
|
31.2 |
|
|
0.5 |
|
|
(1,229.3 |
) |
|
26.6 |
|
Dividend income |
— |
|
|
— |
|
|
24.5 |
|
|
— |
|
|
24.5 |
|
Interest income |
0.2 |
|
|
— |
|
|
0.6 |
|
|
— |
|
|
0.8 |
|
Intercompany interest income |
191.4 |
|
|
268.0 |
|
|
0.1 |
|
|
(459.5 |
) |
|
— |
|
Interest expense |
(290.1 |
) |
|
(0.2 |
) |
|
(24.4 |
) |
|
— |
|
|
(314.7 |
) |
Intercompany interest expense |
(267.4 |
) |
|
(191.3 |
) |
|
(0.8 |
) |
|
459.5 |
|
|
— |
|
Loss on write-off of debt issuance costs |
(0.4 |
) |
|
— |
|
|
(0.7 |
) |
|
— |
|
|
(1.1 |
) |
Income before income taxes |
910.1 |
|
|
882.7 |
|
|
962.3 |
|
|
(1,253.9 |
) |
|
1,501.2 |
|
(Provision for) benefit from income taxes |
144.8 |
|
|
(346.3 |
) |
|
(247.4 |
) |
|
8.3 |
|
|
(440.6 |
) |
Net income |
1,054.9 |
|
|
536.4 |
|
|
714.9 |
|
|
(1,245.6 |
) |
|
1,060.6 |
|
Net income attributable to noncontrolling interests |
— |
|
|
— |
|
|
(5.7 |
) |
|
— |
|
|
(5.7 |
) |
Net income attributable to CBI |
$ |
1,054.9 |
|
|
$ |
536.4 |
|
|
$ |
709.2 |
|
|
$ |
(1,245.6 |
) |
|
$ |
1,054.9 |
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income attributable to CBI |
$ |
733.3 |
|
|
$ |
531.9 |
|
|
$ |
383.7 |
|
|
$ |
(915.6 |
) |
|
$ |
733.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Comprehensive Income for the Year Ended February 28, 2015 |
Sales |
$ |
2,406.4 |
|
|
$ |
5,078.3 |
|
|
$ |
3,004.1 |
|
|
$ |
(3,816.7 |
) |
|
$ |
6,672.1 |
|
Less – excise taxes |
(324.8 |
) |
|
(251.6 |
) |
|
(67.7 |
) |
|
— |
|
|
(644.1 |
) |
Net sales |
2,081.6 |
|
|
4,826.7 |
|
|
2,936.4 |
|
|
(3,816.7 |
) |
|
6,028.0 |
|
Cost of product sold |
(1,678.4 |
) |
|
(3,629.0 |
) |
|
(1,870.3 |
) |
|
3,728.3 |
|
|
(3,449.4 |
) |
Gross profit |
403.2 |
|
|
1,197.7 |
|
|
1,066.1 |
|
|
(88.4 |
) |
|
2,578.6 |
|
Selling, general and administrative expenses |
(388.2 |
) |
|
(470.1 |
) |
|
(273.4 |
) |
|
53.3 |
|
|
(1,078.4 |
) |
Operating income |
15.0 |
|
|
727.6 |
|
|
792.7 |
|
|
(35.1 |
) |
|
1,500.2 |
|
Equity in earnings of equity method investees and subsidiaries |
828.0 |
|
|
24.6 |
|
|
1.2 |
|
|
(832.3 |
) |
|
21.5 |
|
Interest income |
0.1 |
|
|
— |
|
|
1.3 |
|
|
— |
|
|
1.4 |
|
Intercompany interest income |
177.8 |
|
|
222.7 |
|
|
— |
|
|
(400.5 |
) |
|
— |
|
Interest expense |
(296.4 |
) |
|
(1.4 |
) |
|
(41.3 |
) |
|
— |
|
|
(339.1 |
) |
Intercompany interest expense |
(222.0 |
) |
|
(177.6 |
) |
|
(0.9 |
) |
|
400.5 |
|
|
— |
|
Loss on write-off of debt issuance costs |
— |
|
|
— |
|
|
(4.4 |
) |
|
— |
|
|
(4.4 |
) |
Income before income taxes |
502.5 |
|
|
795.9 |
|
|
748.6 |
|
|
(867.4 |
) |
|
1,179.6 |
|
(Provision for) benefit from income taxes |
336.8 |
|
|
(295.5 |
) |
|
(395.7 |
) |
|
11.0 |
|
|
(343.4 |
) |
Net income |
839.3 |
|
|
500.4 |
|
|
352.9 |
|
|
(856.4 |
) |
|
836.2 |
|
Net loss attributable to noncontrolling interests |
— |
|
|
— |
|
|
3.1 |
|
|
— |
|
|
3.1 |
|
Net income attributable to CBI |
$ |
839.3 |
|
|
$ |
500.4 |
|
|
$ |
356.0 |
|
|
$ |
(856.4 |
) |
|
$ |
839.3 |
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income attributable to CBI |
$ |
622.4 |
|
|
$ |
503.7 |
|
|
$ |
132.2 |
|
|
$ |
(635.9 |
) |
|
$ |
622.4 |
|
|
| Condensed Consolidating Statement of Cash Flows |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Cash Flows for the Year Ended February 28, 2017 |
Net cash provided by operating activities |
$ |
171.9 |
|
|
$ |
1,152.1 |
|
|
$ |
1,027.4 |
|
|
$ |
(655.4 |
) |
|
$ |
1,696.0 |
|
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
|
Purchases of businesses, net of cash acquired |
— |
|
|
(284.9 |
) |
|
(826.1 |
) |
|
— |
|
|
(1,111.0 |
) |
Purchases of property, plant and equipment |
(12.8 |
) |
|
(160.8 |
) |
|
(733.8 |
) |
|
— |
|
|
(907.4 |
) |
Proceeds from sale of business |
(9.9 |
) |
|
— |
|
|
585.2 |
|
|
— |
|
|
575.3 |
|
Net proceeds from intercompany notes |
430.1 |
|
|
17.7 |
|
|
— |
|
|
(447.8 |
) |
|
— |
|
Net returns of capital from equity affiliates |
470.7 |
|
|
— |
|
|
— |
|
|
(470.7 |
) |
|
— |
|
Other investing activities |
0.7 |
|
|
(0.1 |
) |
|
(19.3 |
) |
|
— |
|
|
(18.7 |
) |
Net cash provided by (used in) investing activities |
878.8 |
|
|
(428.1 |
) |
|
(994.0 |
) |
|
(918.5 |
) |
|
(1,461.8 |
) |
|
|
|
|
|
|
|
|
|
|
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
|
Dividends paid to parent company |
— |
|
|
— |
|
|
(868.7 |
) |
|
868.7 |
|
|
— |
|
Net returns of capital to equity affiliates |
— |
|
|
(31.2 |
) |
|
(226.2 |
) |
|
257.4 |
|
|
— |
|
Net proceeds from (repayments of) intercompany notes |
141.2 |
|
|
(608.7 |
) |
|
19.7 |
|
|
447.8 |
|
|
— |
|
Purchases of treasury stock |
(1,122.7 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(1,122.7 |
) |
Principal payments of long-term debt |
(767.6 |
) |
|
(20.6 |
) |
|
(183.6 |
) |
|
— |
|
|
(971.8 |
) |
Dividends paid |
(315.1 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(315.1 |
) |
Payments of minimum tax withholdings on stock-based payment awards |
— |
|
|
(61.9 |
) |
|
(3.0 |
) |
|
— |
|
|
(64.9 |
) |
Payments of debt issuance costs and other financing costs |
(5.0 |
) |
|
— |
|
|
(9.1 |
) |
|
— |
|
|
(14.1 |
) |
Proceeds from issuance of long-term debt |
600.0 |
|
|
— |
|
|
1,365.6 |
|
|
— |
|
|
1,965.6 |
|
Net proceeds from (repayments of) notes payable |
231.0 |
|
|
— |
|
|
(33.9 |
) |
|
— |
|
|
197.1 |
|
Excess tax benefits from stock-based payment awards |
131.4 |
|
|
— |
|
|
— |
|
|
— |
|
|
131.4 |
|
Proceeds from shares issued under equity compensation plans |
59.7 |
|
|
— |
|
|
— |
|
|
— |
|
|
59.7 |
|
Net cash provided by (used in) financing activities |
(1,047.1 |
) |
|
(722.4 |
) |
|
60.8 |
|
|
1,573.9 |
|
|
(134.8 |
) |
|
|
|
|
|
|
|
|
|
|
Effect of exchange rate changes on cash and cash equivalents |
— |
|
|
— |
|
|
(5.1 |
) |
|
— |
|
|
(5.1 |
) |
|
|
|
|
|
|
|
|
|
|
Net increase in cash and cash equivalents |
3.6 |
|
|
1.6 |
|
|
89.1 |
|
|
— |
|
|
94.3 |
|
Cash and cash equivalents, beginning of year |
6.0 |
|
|
4.2 |
|
|
72.9 |
|
|
— |
|
|
83.1 |
|
Cash and cash equivalents, end of year |
$ |
9.6 |
|
|
$ |
5.8 |
|
|
$ |
162.0 |
|
|
$ |
— |
|
|
$ |
177.4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Cash Flows for the Year Ended February 29, 2016 |
Net cash provided by (used in) operating activities |
$ |
(476.2 |
) |
|
$ |
1,249.6 |
|
|
$ |
667.8 |
|
|
$ |
(27.5 |
) |
|
$ |
1,413.7 |
|
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
|
Purchases of businesses, net of cash acquired |
— |
|
|
(1,314.7 |
) |
|
(1.7 |
) |
|
— |
|
|
(1,316.4 |
) |
Purchases of property, plant and equipment |
(14.1 |
) |
|
(61.6 |
) |
|
(815.6 |
) |
|
— |
|
|
(891.3 |
) |
Net proceeds from intercompany notes |
143.9 |
|
|
44.9 |
|
|
— |
|
|
(188.8 |
) |
|
— |
|
Net investments in equity affiliates |
(550.1 |
) |
|
— |
|
|
— |
|
|
550.1 |
|
|
— |
|
Other investing activities |
3.5 |
|
|
0.2 |
|
|
(3.4 |
) |
|
— |
|
|
0.3 |
|
Net cash used in investing activities |
(416.8 |
) |
|
(1,331.2 |
) |
|
(820.7 |
) |
|
361.3 |
|
|
(2,207.4 |
) |
|
|
|
|
|
|
|
|
|
|
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
|
Dividends paid to parent company |
— |
|
|
— |
|
|
(88.8 |
) |
|
88.8 |
|
|
— |
|
Net contributions from equity affiliates |
60.9 |
|
|
266.8 |
|
|
283.7 |
|
|
(611.4 |
) |
|
— |
|
Net proceeds from (repayments of) intercompany notes |
250.4 |
|
|
(106.4 |
) |
|
(332.8 |
) |
|
188.8 |
|
|
— |
|
Purchases of treasury stock |
(33.8 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(33.8 |
) |
Principal payments of long-term debt |
(64.5 |
) |
|
(39.4 |
) |
|
(104.8 |
) |
|
— |
|
|
(208.7 |
) |
Dividends paid |
(241.6 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(241.6 |
) |
Payments of minimum tax withholdings on stock-based payment awards |
— |
|
|
(35.9 |
) |
|
(2.7 |
) |
|
— |
|
|
(38.6 |
) |
Payments of debt issuance costs and other financing costs |
(13.3 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(13.3 |
) |
Proceeds from issuance of long-term debt |
600.0 |
|
|
— |
|
|
10.0 |
|
|
— |
|
|
610.0 |
|
Net proceeds from notes payable |
— |
|
|
— |
|
|
360.6 |
|
|
— |
|
|
360.6 |
|
Excess tax benefits from stock-based payment awards |
203.4 |
|
|
— |
|
|
— |
|
|
— |
|
|
203.4 |
|
Proceeds from shares issued under equity compensation plans |
113.0 |
|
|
— |
|
|
— |
|
|
— |
|
|
113.0 |
|
Proceeds from noncontrolling interests |
— |
|
|
— |
|
|
25.0 |
|
|
— |
|
|
25.0 |
|
Net cash provided by financing activities |
874.5 |
|
|
85.1 |
|
|
150.2 |
|
|
(333.8 |
) |
|
776.0 |
|
|
|
|
|
|
|
|
|
|
|
Effect of exchange rate changes on cash and cash equivalents |
— |
|
|
— |
|
|
(9.3 |
) |
|
— |
|
|
(9.3 |
) |
|
|
|
|
|
|
|
|
|
|
Net increase (decrease) in cash and cash equivalents |
(18.5 |
) |
|
3.5 |
|
|
(12.0 |
) |
|
— |
|
|
(27.0 |
) |
Cash and cash equivalents, beginning of year |
24.5 |
|
|
0.7 |
|
|
84.9 |
|
|
— |
|
|
110.1 |
|
Cash and cash equivalents, end of year |
$ |
6.0 |
|
|
$ |
4.2 |
|
|
$ |
72.9 |
|
|
$ |
— |
|
|
$ |
83.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Cash Flows for the Year Ended February 28, 2015 |
Net cash provided by (used in) operating activities |
$ |
(553.6 |
) |
|
$ |
784.5 |
|
|
$ |
850.1 |
|
|
$ |
— |
|
|
$ |
1,081.0 |
|
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
|
Purchase of businesses, net of cash acquired |
— |
|
|
— |
|
|
(310.3 |
) |
|
— |
|
|
(310.3 |
) |
Purchases of property, plant and equipment |
(23.1 |
) |
|
(83.7 |
) |
|
(612.6 |
) |
|
— |
|
|
(719.4 |
) |
Net proceeds from intercompany notes |
485.4 |
|
|
— |
|
|
— |
|
|
(485.4 |
) |
|
— |
|
Net investments in equity affiliates |
(2.6 |
) |
|
— |
|
|
— |
|
|
2.6 |
|
|
— |
|
Other investing activities |
(0.1 |
) |
|
(5.6 |
) |
|
19.5 |
|
|
— |
|
|
13.8 |
|
Net cash provided by (used in) investing activities |
459.6 |
|
|
(89.3 |
) |
|
(903.4 |
) |
|
(482.8 |
) |
|
(1,015.9 |
) |
|
|
|
|
|
|
|
|
|
|
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
|
Dividends paid to parent company |
— |
|
|
— |
|
|
(38.8 |
) |
|
38.8 |
|
|
— |
|
Net contributions from (returns of capital to) equity affiliates |
— |
|
|
(31.5 |
) |
|
72.9 |
|
|
(41.4 |
) |
|
— |
|
Net proceeds from (repayments of) intercompany notes |
(262.8 |
) |
|
(618.1 |
) |
|
395.5 |
|
|
485.4 |
|
|
— |
|
Principal payments of long-term debt |
(549.2 |
) |
|
(19.6 |
) |
|
(36.9 |
) |
|
— |
|
|
(605.7 |
) |
Payments of minimum tax withholdings on stock-based payment awards |
— |
|
|
(26.1 |
) |
|
(2.3 |
) |
|
— |
|
|
(28.4 |
) |
Payments of debt issuance costs and other financing costs |
(11.7 |
) |
|
— |
|
|
(2.1 |
) |
|
— |
|
|
(13.8 |
) |
Proceeds from issuance of long-term debt |
800.0 |
|
|
— |
|
|
105.0 |
|
|
— |
|
|
905.0 |
|
Net proceeds from notes payable |
— |
|
|
— |
|
|
13.1 |
|
|
— |
|
|
13.1 |
|
Excess tax benefits from stock-based payment awards |
78.0 |
|
|
— |
|
|
— |
|
|
— |
|
|
78.0 |
|
Proceeds from shares issued under equity compensation plans |
63.7 |
|
|
— |
|
|
— |
|
|
— |
|
|
63.7 |
|
Proceeds from noncontrolling interests |
— |
|
|
— |
|
|
115.0 |
|
|
— |
|
|
115.0 |
|
Payment of delayed purchase price arrangement |
— |
|
|
— |
|
|
(543.3 |
) |
|
— |
|
|
(543.3 |
) |
Net cash provided by (used in) financing activities |
118.0 |
|
|
(695.3 |
) |
|
78.1 |
|
|
482.8 |
|
|
(16.4 |
) |
|
|
|
|
|
|
|
|
|
|
Effect of exchange rate changes on cash and cash equivalents |
— |
|
|
— |
|
|
(2.5 |
) |
|
— |
|
|
(2.5 |
) |
|
|
|
|
|
|
|
|
|
|
Net increase (decrease) in cash and cash equivalents |
24.0 |
|
|
(0.1 |
) |
|
22.3 |
|
|
— |
|
|
46.2 |
|
Cash and cash equivalents, beginning of year |
0.5 |
|
|
0.8 |
|
|
62.6 |
|
|
— |
|
|
63.9 |
|
Cash and cash equivalents, end of year |
$ |
24.5 |
|
|
$ |
0.7 |
|
|
$ |
84.9 |
|
|
$ |
— |
|
|
$ |
110.1 |
|
|