| Condensed Consolidating Balance Sheet |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Balance Sheet at February 28, 2013 |
Current assets: |
|
|
|
|
|
|
|
|
|
Cash and cash investments |
$ |
185.8 |
|
|
$ |
0.7 |
|
|
$ |
145.0 |
|
|
$ |
— |
|
|
$ |
331.5 |
|
Accounts receivable, net |
0.7 |
|
|
10.1 |
|
|
461.1 |
|
|
— |
|
|
471.9 |
|
Inventories |
151.5 |
|
|
1,019.4 |
|
|
317.6 |
|
|
(7.6 |
) |
|
1,480.9 |
|
Prepaid expenses and other |
25.8 |
|
|
54.5 |
|
|
447.5 |
|
|
(340.9 |
) |
|
186.9 |
|
Intercompany (payable) receivable |
(2,659.3 |
) |
|
2,972.7 |
|
|
(313.4 |
) |
|
— |
|
|
— |
|
Total current assets |
(2,295.5 |
) |
|
4,057.4 |
|
|
1,057.8 |
|
|
(348.5 |
) |
|
2,471.2 |
|
Property, plant and equipment, net |
43.3 |
|
|
832.7 |
|
|
353.0 |
|
|
— |
|
|
1,229.0 |
|
Investments in subsidiaries |
7,281.5 |
|
|
114.9 |
|
|
— |
|
|
(7,396.4 |
) |
|
— |
|
Goodwill |
— |
|
|
2,097.9 |
|
|
624.4 |
|
|
— |
|
|
2,722.3 |
|
Intangible assets, net |
— |
|
|
686.5 |
|
|
184.9 |
|
|
— |
|
|
871.4 |
|
Intercompany notes receivable |
1,611.2 |
|
|
— |
|
|
32.6 |
|
|
(1,643.8 |
) |
|
— |
|
Other assets, net |
49.8 |
|
|
256.7 |
|
|
58.6 |
|
|
(20.9 |
) |
|
344.2 |
|
Total assets |
$ |
6,690.3 |
|
|
$ |
8,046.1 |
|
|
$ |
2,311.3 |
|
|
$ |
(9,409.6 |
) |
|
$ |
7,638.1 |
|
|
|
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
|
Notes payable to banks |
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
Current maturities of long-term debt |
9.8 |
|
|
17.7 |
|
|
0.1 |
|
|
— |
|
|
27.6 |
|
Accounts payable |
39.2 |
|
|
106.4 |
|
|
63.4 |
|
|
— |
|
|
209.0 |
|
Accrued excise taxes |
11.4 |
|
|
3.7 |
|
|
3.8 |
|
|
— |
|
|
18.9 |
|
Other accrued expenses and liabilities |
501.8 |
|
|
187.5 |
|
|
76.0 |
|
|
(342.9 |
) |
|
422.4 |
|
Total current liabilities |
562.2 |
|
|
315.3 |
|
|
143.3 |
|
|
(342.9 |
) |
|
677.9 |
|
Long-term debt, less current maturities |
3,251.0 |
|
|
26.8 |
|
|
— |
|
|
— |
|
|
3,277.8 |
|
Deferred income taxes |
— |
|
|
543.0 |
|
|
77.5 |
|
|
(20.9 |
) |
|
599.6 |
|
Intercompany notes payable |
— |
|
|
1,634.9 |
|
|
8.9 |
|
|
(1,643.8 |
) |
|
— |
|
Other liabilities |
16.8 |
|
|
72.5 |
|
|
133.2 |
|
|
— |
|
|
222.5 |
|
Stockholders’ equity |
2,860.3 |
|
|
5,453.6 |
|
|
1,948.4 |
|
|
(7,402.0 |
) |
|
2,860.3 |
|
Total liabilities and stockholders’ equity |
$ |
6,690.3 |
|
|
$ |
8,046.1 |
|
|
$ |
2,311.3 |
|
|
$ |
(9,409.6 |
) |
|
$ |
7,638.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Balance Sheet at February 29, 2012 |
Current assets: |
|
|
|
|
|
|
|
|
|
Cash and cash investments |
$ |
0.5 |
|
|
$ |
0.6 |
|
|
$ |
84.7 |
|
|
$ |
— |
|
|
$ |
85.8 |
|
Accounts receivable, net |
293.2 |
|
|
71.6 |
|
|
72.8 |
|
|
— |
|
|
437.6 |
|
Inventories |
143.0 |
|
|
916.8 |
|
|
322.0 |
|
|
(7.3 |
) |
|
1,374.5 |
|
Prepaid expenses and other |
22.5 |
|
|
116.5 |
|
|
398.6 |
|
|
(401.2 |
) |
|
136.4 |
|
Intercompany (payable) receivable |
(2,474.3 |
) |
|
2,401.5 |
|
|
72.8 |
|
|
— |
|
|
— |
|
Total current assets |
(2,015.1 |
) |
|
3,507.0 |
|
|
950.9 |
|
|
(408.5 |
) |
|
2,034.3 |
|
Property, plant and equipment, net |
56.9 |
|
|
819.3 |
|
|
379.6 |
|
|
— |
|
|
1,255.8 |
|
Investments in subsidiaries |
6,704.7 |
|
|
166.6 |
|
|
— |
|
|
(6,871.3 |
) |
|
— |
|
Goodwill |
— |
|
|
1,987.4 |
|
|
645.5 |
|
|
— |
|
|
2,632.9 |
|
Intangible assets, net |
— |
|
|
673.4 |
|
|
193.0 |
|
|
— |
|
|
866.4 |
|
Intercompany notes receivable |
1,528.7 |
|
|
— |
|
|
32.4 |
|
|
(1,561.1 |
) |
|
— |
|
Other assets, net |
20.7 |
|
|
263.3 |
|
|
60.2 |
|
|
(23.7 |
) |
|
320.5 |
|
Total assets |
$ |
6,295.9 |
|
|
$ |
7,417.0 |
|
|
$ |
2,261.6 |
|
|
$ |
(8,864.6 |
) |
|
$ |
7,109.9 |
|
|
|
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
|
Notes payable to banks |
$ |
297.9 |
|
|
$ |
— |
|
|
$ |
80.0 |
|
|
$ |
— |
|
|
$ |
377.9 |
|
Current maturities of long-term debt |
324.3 |
|
|
5.7 |
|
|
0.2 |
|
|
— |
|
|
330.2 |
|
Accounts payable |
23.8 |
|
|
75.7 |
|
|
31.0 |
|
|
— |
|
|
130.5 |
|
Accrued excise taxes |
14.4 |
|
|
6.3 |
|
|
4.1 |
|
|
— |
|
|
24.8 |
|
Other accrued expenses and liabilities |
518.2 |
|
|
138.5 |
|
|
82.5 |
|
|
(403.0 |
) |
|
336.2 |
|
Total current liabilities |
1,178.6 |
|
|
226.2 |
|
|
197.8 |
|
|
(403.0 |
) |
|
1,199.6 |
|
Long-term debt, less current maturities |
2,407.3 |
|
|
14.1 |
|
|
— |
|
|
— |
|
|
2,421.4 |
|
Deferred income taxes |
2.7 |
|
|
534.5 |
|
|
95.1 |
|
|
(23.6 |
) |
|
608.7 |
|
Intercompany notes payable |
— |
|
|
1,551.8 |
|
|
9.3 |
|
|
(1,561.1 |
) |
|
— |
|
Other liabilities |
31.3 |
|
|
53.5 |
|
|
119.4 |
|
|
— |
|
|
204.2 |
|
Stockholders’ equity |
2,676.0 |
|
|
5,036.9 |
|
|
1,840.0 |
|
|
(6,876.9 |
) |
|
2,676.0 |
|
Total liabilities and stockholders’ equity |
$ |
6,295.9 |
|
|
$ |
7,417.0 |
|
|
$ |
2,261.6 |
|
|
$ |
(8,864.6 |
) |
|
$ |
7,109.9 |
|
|
| Condensed Consolidating Statement of Comprehensive Income (Loss) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Comprehensive Income for the Year Ended February 28, 2013 |
Sales |
$ |
2,065.4 |
|
|
$ |
1,758.6 |
|
|
$ |
827.8 |
|
|
$ |
(1,480.4 |
) |
|
$ |
3,171.4 |
|
Less – excise taxes |
(213.0 |
) |
|
(95.9 |
) |
|
(66.4 |
) |
|
— |
|
|
(375.3 |
) |
Net sales |
1,852.4 |
|
|
1,662.7 |
|
|
761.4 |
|
|
(1,480.4 |
) |
|
2,796.1 |
|
Cost of product sold |
(1,537.2 |
) |
|
(1,156.6 |
) |
|
(460.8 |
) |
|
1,466.8 |
|
|
(1,687.8 |
) |
Gross profit |
315.2 |
|
|
506.1 |
|
|
300.6 |
|
|
(13.6 |
) |
|
1,108.3 |
|
Selling, general and administrative expenses |
(345.3 |
) |
|
(100.9 |
) |
|
(152.9 |
) |
|
14.4 |
|
|
(584.7 |
) |
Restructuring charges |
1.2 |
|
|
(0.5 |
) |
|
(1.4 |
) |
|
— |
|
|
(0.7 |
) |
Impairment of intangible assets |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Operating (loss) income |
(28.9 |
) |
|
404.7 |
|
|
146.3 |
|
|
0.8 |
|
|
522.9 |
|
Equity in earnings of equity method investees and subsidiaries |
622.2 |
|
|
232.9 |
|
|
0.5 |
|
|
(622.5 |
) |
|
233.1 |
|
Interest income |
0.6 |
|
|
— |
|
|
6.2 |
|
|
— |
|
|
6.8 |
|
Intercompany interest income |
79.0 |
|
|
193.2 |
|
|
1.5 |
|
|
(273.7 |
) |
|
— |
|
Interest expense |
(230.1 |
) |
|
(1.4 |
) |
|
(2.4 |
) |
|
— |
|
|
(233.9 |
) |
Intercompany interest expense |
(193.2 |
) |
|
(80.2 |
) |
|
(0.3 |
) |
|
273.7 |
|
|
— |
|
Loss on write-off of financing costs |
(12.5 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(12.5 |
) |
Income before income taxes |
237.1 |
|
|
749.2 |
|
|
151.8 |
|
|
(621.7 |
) |
|
516.4 |
|
Benefit from (provision for) income taxes |
150.7 |
|
|
(274.7 |
) |
|
(4.5 |
) |
|
(0.1 |
) |
|
(128.6 |
) |
Net income |
$ |
387.8 |
|
|
$ |
474.5 |
|
|
$ |
147.3 |
|
|
$ |
(621.8 |
) |
|
$ |
387.8 |
|
Comprehensive income |
$ |
346.2 |
|
|
$ |
439.5 |
|
|
$ |
103.5 |
|
|
$ |
(543.0 |
) |
|
$ |
346.2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Comprehensive Income for the Year Ended February 29, 2012 |
Sales |
$ |
1,319.1 |
|
|
$ |
1,721.4 |
|
|
$ |
712.0 |
|
|
$ |
(773.4 |
) |
|
$ |
2,979.1 |
|
Less – excise taxes |
(169.2 |
) |
|
(93.5 |
) |
|
(62.1 |
) |
|
— |
|
|
(324.8 |
) |
Net sales |
1,149.9 |
|
|
1,627.9 |
|
|
649.9 |
|
|
(773.4 |
) |
|
2,654.3 |
|
Cost of product sold |
(864.3 |
) |
|
(1,063.2 |
) |
|
(389.6 |
) |
|
724.9 |
|
|
(1,592.2 |
) |
Gross profit |
285.6 |
|
|
564.7 |
|
|
260.3 |
|
|
(48.5 |
) |
|
1,062.1 |
|
Selling, general and administrative expenses |
(233.0 |
) |
|
(180.1 |
) |
|
(157.0 |
) |
|
48.6 |
|
|
(521.5 |
) |
Restructuring charges |
(4.3 |
) |
|
(7.7 |
) |
|
(4.0 |
) |
|
— |
|
|
(16.0 |
) |
Impairment of intangible assets |
— |
|
|
— |
|
|
(38.1 |
) |
|
— |
|
|
(38.1 |
) |
Operating income |
48.3 |
|
|
376.9 |
|
|
61.2 |
|
|
0.1 |
|
|
486.5 |
|
Equity in earnings of equity method investees and subsidiaries |
590.5 |
|
|
240.3 |
|
|
4.3 |
|
|
(606.6 |
) |
|
228.5 |
|
Interest income |
0.2 |
|
|
— |
|
|
6.4 |
|
|
— |
|
|
6.6 |
|
Intercompany interest income |
78.2 |
|
|
125.5 |
|
|
1.4 |
|
|
(205.1 |
) |
|
— |
|
Interest expense |
(180.6 |
) |
|
(4.6 |
) |
|
(2.4 |
) |
|
— |
|
|
(187.6 |
) |
Intercompany interest expense |
(154.3 |
) |
|
(50.5 |
) |
|
(0.3 |
) |
|
205.1 |
|
|
— |
|
Loss on write-off of financing costs |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Income before income taxes |
382.3 |
|
|
687.6 |
|
|
70.6 |
|
|
(606.5 |
) |
|
534.0 |
|
Benefit from (provision for) income taxes |
62.7 |
|
|
(158.5 |
) |
|
6.5 |
|
|
0.3 |
|
|
(89.0 |
) |
Net income |
$ |
445.0 |
|
|
$ |
529.1 |
|
|
$ |
77.1 |
|
|
$ |
(606.2 |
) |
|
$ |
445.0 |
|
Comprehensive income |
$ |
429.9 |
|
|
$ |
502.4 |
|
|
$ |
85.5 |
|
|
$ |
(587.9 |
) |
|
$ |
429.9 |
|
|
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Comprehensive Income for the Year Ended February 28, 2011 |
Sales |
$ |
726.0 |
|
|
$ |
1,916.1 |
|
|
$ |
1,904.7 |
|
|
$ |
(450.1 |
) |
|
$ |
4,096.7 |
|
Less – excise taxes |
(136.9 |
) |
|
(96.6 |
) |
|
(531.2 |
) |
|
— |
|
|
(764.7 |
) |
Net sales |
589.1 |
|
|
1,819.5 |
|
|
1,373.5 |
|
|
(450.1 |
) |
|
3,332.0 |
|
Cost of product sold |
(312.7 |
) |
|
(1,173.1 |
) |
|
(1,006.6 |
) |
|
350.5 |
|
|
(2,141.9 |
) |
Gross profit |
276.4 |
|
|
646.4 |
|
|
366.9 |
|
|
(99.6 |
) |
|
1,190.1 |
|
Selling, general and administrative expenses |
(306.9 |
) |
|
(262.0 |
) |
|
(175.3 |
) |
|
103.3 |
|
|
(640.9 |
) |
Restructuring charges |
(1.3 |
) |
|
(7.1 |
) |
|
(14.7 |
) |
|
— |
|
|
(23.1 |
) |
Impairment of intangible assets |
— |
|
|
(6.9 |
) |
|
(16.7 |
) |
|
— |
|
|
(23.6 |
) |
Operating (loss) income |
(31.8 |
) |
|
370.4 |
|
|
160.2 |
|
|
3.7 |
|
|
502.5 |
|
Equity in earnings of equity method investees and subsidiaries |
735.9 |
|
|
246.3 |
|
|
8.3 |
|
|
(746.7 |
) |
|
243.8 |
|
Interest income |
0.8 |
|
|
— |
|
|
2.7 |
|
|
— |
|
|
3.5 |
|
Intercompany interest income |
76.9 |
|
|
97.7 |
|
|
4.5 |
|
|
(179.1 |
) |
|
— |
|
Interest expense |
(193.7 |
) |
|
(1.6 |
) |
|
(3.5 |
) |
|
— |
|
|
(198.8 |
) |
Intercompany interest expense |
(97.3 |
) |
|
(81.5 |
) |
|
(0.3 |
) |
|
179.1 |
|
|
— |
|
Loss on write-off of financing costs |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Income before income taxes |
490.8 |
|
|
631.3 |
|
|
171.9 |
|
|
(743.0 |
) |
|
551.0 |
|
Benefit from (provision for) income taxes |
68.7 |
|
|
(251.1 |
) |
|
194.1 |
|
|
(3.2 |
) |
|
8.5 |
|
Net income |
$ |
559.5 |
|
|
$ |
380.2 |
|
|
$ |
366.0 |
|
|
$ |
(746.2 |
) |
|
$ |
559.5 |
|
Comprehensive income |
$ |
161.1 |
|
|
$ |
388.0 |
|
|
$ |
(51.4 |
) |
|
$ |
(336.6 |
) |
|
$ |
161.1 |
|
|
| 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, 2013 |
Net cash provided by (used in) operating activities |
$ |
1,286.9 |
|
|
$ |
(852.0 |
) |
|
$ |
121.4 |
|
|
$ |
— |
|
|
$ |
556.3 |
|
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
|
Purchase of business, net of cash acquired |
— |
|
|
(159.3 |
) |
|
— |
|
|
— |
|
|
(159.3 |
) |
Purchases of property, plant and equipment |
(5.0 |
) |
|
(39.8 |
) |
|
(17.3 |
) |
|
— |
|
|
(62.1 |
) |
Payments related to sale of business, net of cash divested |
(0.6 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(0.6 |
) |
Investment in equity method investee |
— |
|
|
(0.1 |
) |
|
— |
|
|
— |
|
|
(0.1 |
) |
Proceeds from sales of assets |
— |
|
|
5.0 |
|
|
5.0 |
|
|
— |
|
|
10.0 |
|
Proceeds from notes receivable |
1.2 |
|
|
3.4 |
|
|
— |
|
|
— |
|
|
4.6 |
|
Proceeds from redemption of available-for-sale debt securities |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Other investing activities |
— |
|
|
1.3 |
|
|
(0.6 |
) |
|
— |
|
|
0.7 |
|
Net cash used in investing activities |
(4.4 |
) |
|
(189.5 |
) |
|
(12.9 |
) |
|
— |
|
|
(206.8 |
) |
|
|
|
|
|
|
|
|
|
|
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
|
Intercompany financings, net |
(1,082.2 |
) |
|
1,050.1 |
|
|
32.1 |
|
|
— |
|
|
— |
|
Principal payments of long-term debt |
(1,528.7 |
) |
|
(8.5 |
) |
|
— |
|
|
— |
|
|
(1,537.2 |
) |
Purchases of treasury stock |
(383.0 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(383.0 |
) |
Net repayment of notes payable |
(297.9 |
) |
|
— |
|
|
(74.7 |
) |
|
— |
|
|
(372.6 |
) |
Payment of financing costs of long-term debt |
(35.8 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(35.8 |
) |
Payment of minimum tax withholdings on stock-based payment awards |
— |
|
|
— |
|
|
(0.5 |
) |
|
— |
|
|
(0.5 |
) |
Proceeds from issuance of long-term debt |
2,050.0 |
|
|
— |
|
|
— |
|
|
— |
|
|
2,050.0 |
|
Proceeds from exercises of employee stock options |
158.3 |
|
|
— |
|
|
— |
|
|
— |
|
|
158.3 |
|
Excess tax benefits from stock-based payment awards |
17.7 |
|
|
— |
|
|
— |
|
|
— |
|
|
17.7 |
|
Proceeds from employee stock purchases |
4.4 |
|
|
— |
|
|
— |
|
|
— |
|
|
4.4 |
|
Net cash (used in) provided by financing activities |
(1,097.2 |
) |
|
1,041.6 |
|
|
(43.1 |
) |
|
— |
|
|
(98.7 |
) |
|
|
|
|
|
|
|
|
|
|
Effect of exchange rate changes on cash and cash investments |
— |
|
|
— |
|
|
(5.1 |
) |
|
— |
|
|
(5.1 |
) |
|
|
|
|
|
|
|
|
|
|
Net increase in cash and cash investments |
185.3 |
|
|
0.1 |
|
|
60.3 |
|
|
— |
|
|
245.7 |
|
Cash and cash investments, beginning of year |
0.5 |
|
|
0.6 |
|
|
84.7 |
|
|
— |
|
|
85.8 |
|
Cash and cash investments, end of year |
$ |
185.8 |
|
|
$ |
0.7 |
|
|
$ |
145.0 |
|
|
$ |
— |
|
|
$ |
331.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Cash Flows for the Year Ended February 29, 2012 |
Net cash provided by operating activities |
$ |
25.9 |
|
|
$ |
557.9 |
|
|
$ |
200.3 |
|
|
$ |
— |
|
|
$ |
784.1 |
|
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
|
Purchase of business, net of cash acquired |
— |
|
|
— |
|
|
(51.5 |
) |
|
— |
|
|
(51.5 |
) |
Purchases of property, plant and equipment |
(20.5 |
) |
|
(33.4 |
) |
|
(14.5 |
) |
|
— |
|
|
(68.4 |
) |
Payments related to sale of business, net of cash divested |
(12.3 |
) |
|
— |
|
|
(18.5 |
) |
|
— |
|
|
(30.8 |
) |
Investment in equity method investee |
— |
|
|
(0.1 |
) |
|
— |
|
|
— |
|
|
(0.1 |
) |
Proceeds from sales of assets |
— |
|
|
3.3 |
|
|
0.3 |
|
|
— |
|
|
3.6 |
|
Proceeds from notes receivable |
1.0 |
|
|
— |
|
|
— |
|
|
— |
|
|
1.0 |
|
Proceeds from redemption of AFS debt securities |
— |
|
|
— |
|
|
20.2 |
|
|
— |
|
|
20.2 |
|
Other investing activities |
— |
|
|
(6.0 |
) |
|
(3.1 |
) |
|
— |
|
|
(9.1 |
) |
Net cash used in investing activities |
(31.8 |
) |
|
(36.2 |
) |
|
(67.1 |
) |
|
— |
|
|
(135.1 |
) |
|
|
|
|
|
|
|
|
|
|
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
|
Intercompany financings, net |
543.6 |
|
|
(503.4 |
) |
|
(40.2 |
) |
|
— |
|
|
— |
|
Principal payments of long-term debt |
(414.2 |
) |
|
(16.9 |
) |
|
(44.8 |
) |
|
— |
|
|
(475.9 |
) |
Purchases of treasury stock |
(413.7 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(413.7 |
) |
Net proceeds from notes payable |
223.1 |
|
|
— |
|
|
26.7 |
|
|
— |
|
|
249.8 |
|
Payment of financing costs of long-term debt |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Payment of minimum tax withholdings on stock-based payment awards |
— |
|
|
(1.7 |
) |
|
(0.5 |
) |
|
— |
|
|
(2.2 |
) |
Proceeds from issuance of long-term debt |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Proceeds from exercises of employee stock options |
51.3 |
|
|
— |
|
|
— |
|
|
— |
|
|
51.3 |
|
Excess tax benefits from stock-based payment awards |
10.9 |
|
|
— |
|
|
— |
|
|
— |
|
|
10.9 |
|
Proceeds from employee stock purchases |
4.7 |
|
|
— |
|
|
— |
|
|
— |
|
|
4.7 |
|
Net cash provided by (used in) financing activities |
5.7 |
|
|
(522.0 |
) |
|
(58.8 |
) |
|
— |
|
|
(575.1 |
) |
|
|
|
|
|
|
|
|
|
|
Effect of exchange rate changes on cash and cash investments |
— |
|
|
— |
|
|
2.7 |
|
|
— |
|
|
2.7 |
|
|
|
|
|
|
|
|
|
|
|
Net (decrease) increase in cash and cash investments |
(0.2 |
) |
|
(0.3 |
) |
|
77.1 |
|
|
— |
|
|
76.6 |
|
Cash and cash investments, beginning of year |
0.7 |
|
|
0.9 |
|
|
7.6 |
|
|
— |
|
|
9.2 |
|
Cash and cash investments, end of year |
$ |
0.5 |
|
|
$ |
0.6 |
|
|
$ |
84.7 |
|
|
$ |
— |
|
|
$ |
85.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Cash Flows for the Year Ended February 28, 2011 |
Net cash (used in) provided by operating activities |
$ |
(108.8 |
) |
|
$ |
483.5 |
|
|
$ |
245.0 |
|
|
$ |
— |
|
|
$ |
619.7 |
|
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
|
Purchase of business, net of cash acquired |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Purchases of property, plant and equipment |
(39.4 |
) |
|
(31.5 |
) |
|
(18.2 |
) |
|
— |
|
|
(89.1 |
) |
(Payments related to) proceeds from sale of business, net of cash divested |
(2.3 |
) |
|
(3.5 |
) |
|
225.5 |
|
|
— |
|
|
219.7 |
|
Investments in equity method investees |
— |
|
|
(0.1 |
) |
|
(29.6 |
) |
|
— |
|
|
(29.7 |
) |
Proceeds from sales of assets |
— |
|
|
3.4 |
|
|
16.1 |
|
|
— |
|
|
19.5 |
|
Proceeds from notes receivable |
60.0 |
|
|
— |
|
|
— |
|
|
— |
|
|
60.0 |
|
Proceeds from redemption of AFS debt securities |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Other investing activities |
— |
|
|
7.0 |
|
|
0.7 |
|
|
— |
|
|
7.7 |
|
Net cash provided by (used in) investing activities |
18.3 |
|
|
(24.7 |
) |
|
194.5 |
|
|
— |
|
|
188.1 |
|
|
|
|
|
|
|
|
|
|
|
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
|
Intercompany financings, net |
858.5 |
|
|
(459.5 |
) |
|
(399.0 |
) |
|
— |
|
|
— |
|
Principal payments of long-term debt |
(325.7 |
) |
|
(1.7 |
) |
|
(1.1 |
) |
|
— |
|
|
(328.5 |
) |
Purchases of treasury stock |
(300.0 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(300.0 |
) |
Net repayment of notes payable |
(214.4 |
) |
|
— |
|
|
(75.3 |
) |
|
— |
|
|
(289.7 |
) |
Payment of financing costs of long-term debt |
(0.2 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(0.2 |
) |
Payment of minimum tax withholdings on stock-based payment awards |
— |
|
|
— |
|
|
(0.4 |
) |
|
— |
|
|
(0.4 |
) |
Proceeds from issuance of long-term debt |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Proceeds from exercises of employee stock options |
61.0 |
|
|
— |
|
|
— |
|
|
— |
|
|
61.0 |
|
Excess tax benefits from stock-based payment awards |
7.4 |
|
|
— |
|
|
— |
|
|
— |
|
|
7.4 |
|
Proceeds from employee stock purchases |
4.3 |
|
|
— |
|
|
— |
|
|
— |
|
|
4.3 |
|
Net cash provided by (used in) financing activities |
90.9 |
|
|
(461.2 |
) |
|
(475.8 |
) |
|
— |
|
|
(846.1 |
) |
|
|
|
|
|
|
|
|
|
|
Effect of exchange rate changes on cash and cash investments |
— |
|
|
— |
|
|
4.0 |
|
|
— |
|
|
4.0 |
|
|
|
|
|
|
|
|
|
|
|
Net increase (decrease) in cash and cash investments |
0.4 |
|
|
(2.4 |
) |
|
(32.3 |
) |
|
— |
|
|
(34.3 |
) |
Cash and cash investments, beginning of year |
0.3 |
|
|
3.3 |
|
|
39.9 |
|
|
— |
|
|
43.5 |
|
Cash and cash investments, end of year |
$ |
0.7 |
|
|
$ |
0.9 |
|
|
$ |
7.6 |
|
|
$ |
— |
|
|
$ |
9.2 |
|
|