Constellation Brands, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Derivative Instruments (Tables)

Derivative Instruments (Tables)

9 Months Ended

Nov. 30, 2011

Fair value and location of the Company's derivative instruments on its Consolidated Balance Sheets


Balance Sheet Location	November 30, 2011		February 28, 2011
(in millions)
Derivative instruments designated as hedging instruments
Foreign currency contracts
Prepaid expenses and other	$	8.5	$	11.0
Other accrued expenses and liabilities	$	1.5	$	3.4
Other assets, net	$	3.2	$	2.8
Other liabilities	$	1.7	$	0.9

Interest rate swap contracts
Other accrued expenses and liabilities	$	12.6	$	6.1
Other assets, net	$	-	$	1.7
Other liabilities	$	30.2	$	-

Derivative instruments not designated as hedging instruments
Foreign currency contracts
Prepaid expenses and other	$	1.7	$	3.2
Other accrued expenses and liabilities	$	2.8	$	1.0
Other assets, net	$	0.3	$	-
Other liabilities	$	0.5	$	-

Effect of the Company's derivative instruments designated in cash flow hedging relationships and undesignated derivative instruments on its Consolidated Statements of Operations and Other Comprehensive Income, net of income tax effect


Derivative Instruments in Designated Cash Flow Hedging Relationships	Net Gain (Loss) Recognized in OCI (Effective portion)			Location of Net Gain (Loss) Reclassified from AOCI to Income (Effective portion)	Net Gain (Loss) Reclassified from AOCI to Income (Effective portion)
(in millions)
For the Nine Months Ended November 30, 2011
Foreign currency contracts	$	5.5		Sales	$	4.4
Foreign currency contracts		2.1		Cost of product sold		1.6
Interest rate swap contracts		(23.4	)	Interest expense, net		(2.0	)

Total	$	(15.8	)	Total	$	4.0

For the Nine Months Ended November 30, 2010
Foreign currency contracts	$	6.1		Sales	$	10.6
Foreign currency contracts		1.0		Cost of product sold		2.7
Interest rate swap contracts		(10.5	)	Interest expense, net		-

Total	$	(3.4	)	Total	$	13.3

For the Three Months Ended November 30, 2011
Foreign currency contracts	$	(1.5	)	Sales	$	1.7
Foreign currency contracts		(4.1	)	Cost of product sold		1.0
Interest rate swap contracts		(0.8	)	Interest expense, net		(2.0	)

Total	$	(6.4	)	Total	$	0.7

For the Three Months Ended November 30, 2010
Foreign currency contracts	$	6.0		Sales	$	2.7
Foreign currency contracts		3.1		Cost of product sold		1.4
Interest rate swap contracts		1.5		Interest expense, net		-

Total	$	10.6		Total	$	4.1


Derivative Instruments in Designated Cash Flow Hedging Relationships				Location of Net Gain Recognized in Income (Ineffective portion)	Net Gain Recognized in Income (Ineffective portion)
(in millions)
For the Nine Months Ended November 30, 2011
Foreign currency contracts				Selling, general and administrative expenses	$	1.4


For the Nine Months Ended November 30, 2010
Foreign currency contracts				Selling, general and administrative expenses	$	1.6


For the Three Months Ended November 30, 2011
Foreign currency contracts				Selling, general and administrative expenses	$	0.6


For the Three Months Ended November 30, 2010
Foreign currency contracts				Selling, general and administrative expenses	$	0.9


Derivative Instruments not Designated as Hedging Instruments	Location of Net (Loss) Gain Recognized in Income	Net (Loss) Gain Recognized in Income
(in millions)
For the Nine Months Ended November 30, 2011
Foreign currency contracts	Selling, general and administrative expenses	$	(2.8	)


For the Nine Months Ended November 30, 2010
Foreign currency contracts	Selling, general and administrative expenses	$	7.0


For the Three Months Ended November 30, 2011
Foreign currency contracts	Selling, general and administrative expenses	$	(7.6	)


For the Three Months Ended November 30, 2010
Foreign currency contracts	Selling, general and administrative expenses	$	8.0

- Definition

Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges.

+ References + Details

- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References + Details