| Condensed Consolidating Balance Sheet |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Balance Sheet at February 28, 2015 |
Current assets: |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
$ |
24.5 |
|
|
$ |
0.7 |
|
|
$ |
84.9 |
|
|
$ |
— |
|
|
$ |
110.1 |
|
Accounts receivable |
0.8 |
|
|
27.3 |
|
|
570.8 |
|
|
— |
|
|
598.9 |
|
Inventories |
153.3 |
|
|
1,419.0 |
|
|
357.7 |
|
|
(102.8 |
) |
|
1,827.2 |
|
Intercompany receivable |
13,158.7 |
|
|
18,389.9 |
|
|
6,512.0 |
|
|
(38,060.6 |
) |
|
— |
|
Prepaid expenses and other |
46.2 |
|
|
94.0 |
|
|
427.0 |
|
|
(192.6 |
) |
|
374.6 |
|
Total current assets |
13,383.5 |
|
|
19,930.9 |
|
|
7,952.4 |
|
|
(38,356.0 |
) |
|
2,910.8 |
|
Property, plant and equipment |
59.3 |
|
|
854.5 |
|
|
1,767.8 |
|
|
— |
|
|
2,681.6 |
|
Investments in subsidiaries |
11,657.2 |
|
|
13.8 |
|
|
— |
|
|
(11,671.0 |
) |
|
— |
|
Goodwill |
— |
|
|
5,411.3 |
|
|
796.9 |
|
|
— |
|
|
6,208.2 |
|
Intangible assets |
— |
|
|
703.3 |
|
|
2,474.3 |
|
|
3.4 |
|
|
3,181.0 |
|
Intercompany notes receivable |
4,087.3 |
|
|
129.9 |
|
|
— |
|
|
(4,217.2 |
) |
|
— |
|
Other assets |
61.4 |
|
|
68.4 |
|
|
33.1 |
|
|
— |
|
|
162.9 |
|
Total assets |
$ |
29,248.7 |
|
|
$ |
27,112.1 |
|
|
$ |
13,024.5 |
|
|
$ |
(54,240.8 |
) |
|
$ |
15,144.5 |
|
|
|
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
|
Notes payable to banks |
$ |
— |
|
|
$ |
— |
|
|
$ |
52.4 |
|
|
$ |
— |
|
|
$ |
52.4 |
|
Current maturities of long-term debt |
92.3 |
|
|
16.9 |
|
|
48.9 |
|
|
— |
|
|
158.1 |
|
Accounts payable |
41.2 |
|
|
113.2 |
|
|
131.4 |
|
|
— |
|
|
285.8 |
|
Accrued excise taxes |
12.6 |
|
|
11.3 |
|
|
4.8 |
|
|
— |
|
|
28.7 |
|
Intercompany payable |
17,206.7 |
|
|
14,201.6 |
|
|
6,652.3 |
|
|
(38,060.6 |
) |
|
— |
|
Other accrued expenses and liabilities |
462.5 |
|
|
211.2 |
|
|
156.9 |
|
|
(224.9 |
) |
|
605.7 |
|
Total current liabilities |
17,815.3 |
|
|
14,554.2 |
|
|
7,046.7 |
|
|
(38,285.5 |
) |
|
1,130.7 |
|
Long-term debt, less current maturities |
5,601.4 |
|
|
30.9 |
|
|
1,505.2 |
|
|
— |
|
|
7,137.5 |
|
Deferred income taxes |
17.6 |
|
|
633.6 |
|
|
167.7 |
|
|
— |
|
|
818.9 |
|
Intercompany notes payable |
— |
|
|
3,863.4 |
|
|
353.8 |
|
|
(4,217.2 |
) |
|
— |
|
Other liabilities |
43.7 |
|
|
36.7 |
|
|
95.7 |
|
|
— |
|
|
176.1 |
|
Total liabilities |
23,478.0 |
|
|
19,118.8 |
|
|
9,169.1 |
|
|
(42,502.7 |
) |
|
9,263.2 |
|
Total CBI stockholders’ equity |
5,770.7 |
|
|
7,993.3 |
|
|
3,744.8 |
|
|
(11,738.1 |
) |
|
5,770.7 |
|
Noncontrolling interests |
— |
|
|
— |
|
|
110.6 |
|
|
— |
|
|
110.6 |
|
Total stockholders’ equity |
5,770.7 |
|
|
7,993.3 |
|
|
3,855.4 |
|
|
(11,738.1 |
) |
|
5,881.3 |
|
Total liabilities and stockholders’ equity |
$ |
29,248.7 |
|
|
$ |
27,112.1 |
|
|
$ |
13,024.5 |
|
|
$ |
(54,240.8 |
) |
|
$ |
15,144.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Balance Sheet at February 28, 2014 |
Current assets: |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
$ |
0.5 |
|
|
$ |
0.8 |
|
|
$ |
62.6 |
|
|
$ |
— |
|
|
$ |
63.9 |
|
Accounts receivable |
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 |
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 |
— |
|
|
707.6 |
|
|
2,523.0 |
|
|
0.5 |
|
|
3,231.1 |
|
Intercompany notes receivable |
3,606.0 |
|
|
8.5 |
|
|
— |
|
|
(3,614.5 |
) |
|
— |
|
Other assets |
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 |
|
Total liabilities |
18,254.8 |
|
|
14,238.0 |
|
|
6,935.2 |
|
|
(30,107.2 |
) |
|
9,320.8 |
|
Total CBI stockholders’ equity |
4,981.3 |
|
|
7,490.1 |
|
|
3,357.6 |
|
|
(10,847.7 |
) |
|
4,981.3 |
|
Noncontrolling interests |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Total 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 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 financing 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 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Comprehensive Income for the Year Ended February 28, 2014 |
Sales |
$ |
2,351.8 |
|
|
$ |
3,868.3 |
|
|
$ |
2,093.9 |
|
|
$ |
(2,903.0 |
) |
|
$ |
5,411.0 |
|
Less – excise taxes |
(317.3 |
) |
|
(155.9 |
) |
|
(70.1 |
) |
|
— |
|
|
(543.3 |
) |
Net sales |
2,034.5 |
|
|
3,712.4 |
|
|
2,023.8 |
|
|
(2,903.0 |
) |
|
4,867.7 |
|
Cost of product sold |
(1,730.3 |
) |
|
(2,661.6 |
) |
|
(1,312.1 |
) |
|
2,828.0 |
|
|
(2,876.0 |
) |
Gross profit |
304.2 |
|
|
1,050.8 |
|
|
711.7 |
|
|
(75.0 |
) |
|
1,991.7 |
|
Selling, general and administrative expenses |
(395.4 |
) |
|
(361.7 |
) |
|
(155.0 |
) |
|
17.0 |
|
|
(895.1 |
) |
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 income (loss) |
(91.2 |
) |
|
2,331.1 |
|
|
255.8 |
|
|
(58.0 |
) |
|
2,437.7 |
|
Equity in earnings of equity method investees and subsidiaries |
2,219.2 |
|
|
92.7 |
|
|
0.6 |
|
|
(2,224.7 |
) |
|
87.8 |
|
Interest income |
0.1 |
|
|
— |
|
|
7.6 |
|
|
— |
|
|
7.7 |
|
Intercompany interest income |
152.4 |
|
|
168.5 |
|
|
1.5 |
|
|
(322.4 |
) |
|
— |
|
Interest expense |
(283.2 |
) |
|
(2.5 |
) |
|
(45.2 |
) |
|
— |
|
|
(330.9 |
) |
Intercompany interest expense |
(168.1 |
) |
|
(153.6 |
) |
|
(0.7 |
) |
|
322.4 |
|
|
— |
|
Income before income taxes |
1,829.2 |
|
|
2,436.2 |
|
|
219.6 |
|
|
(2,282.7 |
) |
|
2,202.3 |
|
(Provision for) benefit from income taxes |
113.9 |
|
|
(292.5 |
) |
|
(100.1 |
) |
|
19.5 |
|
|
(259.2 |
) |
Net income |
1,943.1 |
|
|
2,143.7 |
|
|
119.5 |
|
|
(2,263.2 |
) |
|
1,943.1 |
|
Net loss attributable to noncontrolling interests |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Net income attributable to CBI |
$ |
1,943.1 |
|
|
$ |
2,143.7 |
|
|
$ |
119.5 |
|
|
$ |
(2,263.2 |
) |
|
$ |
1,943.1 |
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income attributable to CBI |
$ |
1,897.0 |
|
|
$ |
2,167.7 |
|
|
$ |
64.0 |
|
|
$ |
(2,231.7 |
) |
|
$ |
1,897.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
(344.1 |
) |
|
(101.4 |
) |
|
(154.3 |
) |
|
14.4 |
|
|
(585.4 |
) |
Operating income (loss) |
(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 |
|
(Provision for) benefit from income taxes |
150.7 |
|
|
(274.7 |
) |
|
(4.5 |
) |
|
(0.1 |
) |
|
(128.6 |
) |
Net income |
387.8 |
|
|
474.5 |
|
|
147.3 |
|
|
(621.8 |
) |
|
387.8 |
|
Net loss attributable to noncontrolling interests |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Net income attributable to CBI |
$ |
387.8 |
|
|
$ |
474.5 |
|
|
$ |
147.3 |
|
|
$ |
(621.8 |
) |
|
$ |
387.8 |
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income attributable to CBI |
$ |
346.2 |
|
|
$ |
439.5 |
|
|
$ |
103.5 |
|
|
$ |
(543.0 |
) |
|
$ |
346.2 |
|
|
| 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, 2015 |
Net cash provided by (used in) operating activities |
$ |
(553.6 |
) |
|
$ |
784.5 |
|
|
$ |
850.1 |
|
|
$ |
— |
|
|
$ |
1,081.0 |
|
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
|
Purchases of property, plant and equipment |
(23.1 |
) |
|
(83.7 |
) |
|
(612.6 |
) |
|
— |
|
|
(719.4 |
) |
Purchase of business, net of cash acquired |
— |
|
|
— |
|
|
(310.3 |
) |
|
— |
|
|
(310.3 |
) |
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: |
|
|
|
|
|
|
|
|
|
Payments of dividends |
— |
|
|
— |
|
|
(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 |
) |
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 |
(11.7 |
) |
|
— |
|
|
(2.1 |
) |
|
— |
|
|
(13.8 |
) |
Proceeds from issuance of long-term debt |
800.0 |
|
|
— |
|
|
105.0 |
|
|
— |
|
|
905.0 |
|
Proceeds from noncontrolling interests |
— |
|
|
— |
|
|
115.0 |
|
|
— |
|
|
115.0 |
|
Excess tax benefits from stock-based payment awards |
78.0 |
|
|
— |
|
|
— |
|
|
— |
|
|
78.0 |
|
Proceeds from shares issued under equity compensation plans |
63.7 |
|
|
— |
|
|
— |
|
|
— |
|
|
63.7 |
|
Net proceeds from notes payable |
— |
|
|
— |
|
|
13.1 |
|
|
— |
|
|
13.1 |
|
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 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Cash Flows for the Year Ended February 28, 2014 |
Net cash provided by (used in) operating activities |
$ |
(466.1 |
) |
|
$ |
1,070.7 |
|
|
$ |
240.4 |
|
|
$ |
(18.8 |
) |
|
$ |
826.2 |
|
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
|
Purchases of property, plant and equipment |
(5.4 |
) |
|
(61.4 |
) |
|
(156.7 |
) |
|
— |
|
|
(223.5 |
) |
Purchase of business, net of cash acquired |
— |
|
|
(1,770.0 |
) |
|
(2,911.3 |
) |
|
— |
|
|
(4,681.3 |
) |
Net proceeds from intercompany notes |
972.6 |
|
|
— |
|
|
— |
|
|
(972.6 |
) |
|
— |
|
Net returns of capital from (investments in) equity affiliates |
(1,133.2 |
) |
|
(5.1 |
) |
|
0.1 |
|
|
1,138.2 |
|
|
— |
|
Other investing activities |
— |
|
|
2.4 |
|
|
38.6 |
|
|
— |
|
|
41.0 |
|
Net cash used in investing activities |
(166.0 |
) |
|
(1,834.1 |
) |
|
(3,029.3 |
) |
|
165.6 |
|
|
(4,863.8 |
) |
|
|
|
|
|
|
|
|
|
|
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
|
Payments of dividends |
— |
|
|
— |
|
|
(84.3 |
) |
|
84.3 |
|
|
— |
|
Net contributions from (returns of capital to) equity affiliates |
— |
|
|
(172.8 |
) |
|
1,376.5 |
|
|
(1,203.7 |
) |
|
— |
|
Net proceeds from (repayments of) intercompany notes |
(1,850.1 |
) |
|
972.9 |
|
|
(95.4 |
) |
|
972.6 |
|
|
— |
|
Principal payments of long-term debt |
(49.8 |
) |
|
(20.2 |
) |
|
(26.4 |
) |
|
— |
|
|
(96.4 |
) |
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 |
65.4 |
|
|
— |
|
|
— |
|
|
— |
|
|
65.4 |
|
Proceeds from shares issued under equity compensation plans |
125.9 |
|
|
— |
|
|
— |
|
|
— |
|
|
125.9 |
|
Net proceeds from notes payable |
— |
|
|
— |
|
|
57.3 |
|
|
— |
|
|
57.3 |
|
Net cash provided by financing activities |
446.8 |
|
|
763.5 |
|
|
2,713.5 |
|
|
(146.8 |
) |
|
3,777.0 |
|
|
|
|
|
|
|
|
|
|
|
Effect of exchange rate changes on cash and cash equivalents |
— |
|
|
— |
|
|
(7.0 |
) |
|
— |
|
|
(7.0 |
) |
|
|
|
|
|
|
|
|
|
|
Net increase (decrease) in cash and cash equivalents |
(185.3 |
) |
|
0.1 |
|
|
(82.4 |
) |
|
— |
|
|
(267.6 |
) |
Cash and cash equivalents, beginning of year |
185.8 |
|
|
0.7 |
|
|
145.0 |
|
|
— |
|
|
331.5 |
|
Cash and cash equivalents, end of year |
$ |
0.5 |
|
|
$ |
0.8 |
|
|
$ |
62.6 |
|
|
$ |
— |
|
|
$ |
63.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
$ |
(336.2 |
) |
|
$ |
722.7 |
|
|
$ |
169.8 |
|
|
$ |
— |
|
|
$ |
556.3 |
|
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
|
Purchases of property, plant and equipment |
(5.0 |
) |
|
(39.8 |
) |
|
(17.3 |
) |
|
— |
|
|
(62.1 |
) |
Purchase of business, net of cash acquired |
— |
|
|
(159.3 |
) |
|
— |
|
|
— |
|
|
(159.3 |
) |
Net proceeds from intercompany notes |
503.2 |
|
|
— |
|
|
— |
|
|
(503.2 |
) |
|
— |
|
Net returns of capital from (investments in) equity affiliates |
37.2 |
|
|
(0.3 |
) |
|
— |
|
|
(36.9 |
) |
|
— |
|
Other investing activities |
0.6 |
|
|
9.6 |
|
|
4.4 |
|
|
— |
|
|
14.6 |
|
Net cash provided by (used in) investing activities |
536.0 |
|
|
(189.8 |
) |
|
(12.9 |
) |
|
(540.1 |
) |
|
(206.8 |
) |
|
|
|
|
|
|
|
|
|
|
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
|
Net returns of capital to equity affiliates |
— |
|
|
(20.8 |
) |
|
(16.1 |
) |
|
36.9 |
|
|
— |
|
Net proceeds from (repayments of) intercompany notes |
0.5 |
|
|
(503.5 |
) |
|
(0.2 |
) |
|
503.2 |
|
|
— |
|
Principal payments of long-term debt |
(1,528.7 |
) |
|
(8.5 |
) |
|
— |
|
|
— |
|
|
(1,537.2 |
) |
Payments of minimum tax withholdings on stock-based payment awards |
— |
|
|
— |
|
|
(0.5 |
) |
|
— |
|
|
(0.5 |
) |
Payment of financing costs of long-term debt |
(35.8 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(35.8 |
) |
Proceeds from issuance of long-term debt |
2,050.0 |
|
|
— |
|
|
— |
|
|
— |
|
|
2,050.0 |
|
Excess tax benefits from stock-based payment awards |
17.7 |
|
|
— |
|
|
— |
|
|
— |
|
|
17.7 |
|
Proceeds from shares issued under equity compensation plans |
162.7 |
|
|
— |
|
|
— |
|
|
— |
|
|
162.7 |
|
Net repayments of notes payable |
(297.9 |
) |
|
— |
|
|
(74.7 |
) |
|
— |
|
|
(372.6 |
) |
Purchases of treasury stock |
(383.0 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(383.0 |
) |
Net cash used in financing activities |
(14.5 |
) |
|
(532.8 |
) |
|
(91.5 |
) |
|
540.1 |
|
|
(98.7 |
) |
|
|
|
|
|
|
|
|
|
|
Effect of exchange rate changes on cash and cash equivalents |
— |
|
|
— |
|
|
(5.1 |
) |
|
— |
|
|
(5.1 |
) |
|
|
|
|
|
|
|
|
|
|
Net increase in cash and cash equivalents |
185.3 |
|
|
0.1 |
|
|
60.3 |
|
|
— |
|
|
245.7 |
|
Cash and cash equivalents, beginning of year |
0.5 |
|
|
0.6 |
|
|
84.7 |
|
|
— |
|
|
85.8 |
|
Cash and cash equivalents, end of year |
$ |
185.8 |
|
|
$ |
0.7 |
|
|
$ |
145.0 |
|
|
$ |
— |
|
|
$ |
331.5 |
|
|