| Condensed Consolidating Balance Sheet |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Balance Sheet at November 30, 2013 |
Current assets: |
|
|
|
|
|
|
|
|
|
Cash and cash investments |
$ |
3.0 |
|
|
$ |
2.2 |
|
|
$ |
60.0 |
|
|
$ |
— |
|
|
$ |
65.2 |
|
Accounts receivable, net |
0.6 |
|
|
11.7 |
|
|
656.5 |
|
|
— |
|
|
668.8 |
|
Inventories |
160.5 |
|
|
1,298.7 |
|
|
405.3 |
|
|
(40.5 |
) |
|
1,824.0 |
|
Intercompany receivable |
7,158.4 |
|
|
12,087.8 |
|
|
3,320.9 |
|
|
(22,567.1 |
) |
|
— |
|
Prepaid expenses and other |
45.9 |
|
|
89.6 |
|
|
487.5 |
|
|
(345.6 |
) |
|
277.4 |
|
Total current assets |
7,368.4 |
|
|
13,490.0 |
|
|
4,930.2 |
|
|
(22,953.2 |
) |
|
2,835.4 |
|
Property, plant and equipment, net |
39.4 |
|
|
845.6 |
|
|
1,020.4 |
|
|
— |
|
|
1,905.4 |
|
Investments in subsidiaries |
10,539.3 |
|
|
8.7 |
|
|
— |
|
|
(10,548.0 |
) |
|
— |
|
Goodwill |
— |
|
|
5,411.2 |
|
|
738.8 |
|
|
— |
|
|
6,150.0 |
|
Intangible assets, net |
— |
|
|
709.6 |
|
|
2,527.0 |
|
|
0.6 |
|
|
3,237.2 |
|
Intercompany notes receivable |
3,658.2 |
|
|
10.3 |
|
|
32.8 |
|
|
(3,701.3 |
) |
|
— |
|
Other assets, net |
67.2 |
|
|
88.1 |
|
|
69.4 |
|
|
(16.4 |
) |
|
208.3 |
|
Total assets |
$ |
21,672.5 |
|
|
$ |
20,563.5 |
|
|
$ |
9,318.6 |
|
|
$ |
(37,218.3 |
) |
|
$ |
14,336.3 |
|
|
|
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
|
Notes payable to banks |
$ |
— |
|
|
$ |
— |
|
|
$ |
170.5 |
|
|
$ |
— |
|
|
$ |
170.5 |
|
Current maturities of long-term debt |
31.8 |
|
|
17.6 |
|
|
17.7 |
|
|
— |
|
|
67.1 |
|
Accounts payable |
38.9 |
|
|
269.6 |
|
|
153.9 |
|
|
— |
|
|
462.4 |
|
Accrued excise taxes |
9.2 |
|
|
12.1 |
|
|
5.1 |
|
|
— |
|
|
26.4 |
|
Intercompany payable |
10,853.5 |
|
|
8,279.9 |
|
|
3,433.7 |
|
|
(22,567.1 |
) |
|
— |
|
Other accrued expenses and liabilities |
475.4 |
|
|
230.9 |
|
|
679.0 |
|
|
(356.7 |
) |
|
1,028.6 |
|
Total current liabilities |
11,408.8 |
|
|
8,810.1 |
|
|
4,459.9 |
|
|
(22,923.8 |
) |
|
1,755.0 |
|
Long-term debt, less current maturities |
5,407.0 |
|
|
33.1 |
|
|
1,456.9 |
|
|
— |
|
|
6,897.0 |
|
Deferred income taxes |
21.3 |
|
|
572.7 |
|
|
132.3 |
|
|
(16.3 |
) |
|
710.0 |
|
Intercompany notes payable |
— |
|
|
3,682.3 |
|
|
19.0 |
|
|
(3,701.3 |
) |
|
— |
|
Other liabilities |
45.6 |
|
|
25.5 |
|
|
113.4 |
|
|
— |
|
|
184.5 |
|
Stockholders’ equity |
4,789.8 |
|
|
7,439.8 |
|
|
3,137.1 |
|
|
(10,576.9 |
) |
|
4,789.8 |
|
Total liabilities and stockholders’ equity |
$ |
21,672.5 |
|
|
$ |
20,563.5 |
|
|
$ |
9,318.6 |
|
|
$ |
(37,218.3 |
) |
|
$ |
14,336.3 |
|
|
|
|
|
|
|
|
|
|
|
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 |
|
|
317.2 |
|
|
(7.2 |
) |
|
1,480.9 |
|
Intercompany receivable |
4,598.2 |
|
|
9,291.4 |
|
|
1,075.1 |
|
|
(14,964.7 |
) |
|
— |
|
Prepaid expenses and other |
33.9 |
|
|
46.4 |
|
|
447.8 |
|
|
(341.2 |
) |
|
186.9 |
|
Total current assets |
4,970.1 |
|
|
10,368.0 |
|
|
2,446.2 |
|
|
(15,313.1 |
) |
|
2,471.2 |
|
Property, plant and equipment, net |
43.3 |
|
|
832.7 |
|
|
353.0 |
|
|
— |
|
|
1,229.0 |
|
Investments in subsidiaries |
7,307.0 |
|
|
2.8 |
|
|
— |
|
|
(7,309.8 |
) |
|
— |
|
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 |
63.3 |
|
|
243.2 |
|
|
58.6 |
|
|
(20.9 |
) |
|
344.2 |
|
Total assets |
$ |
13,994.9 |
|
|
$ |
14,231.1 |
|
|
$ |
3,699.7 |
|
|
$ |
(24,287.6 |
) |
|
$ |
7,638.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
|
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 |
|
Intercompany payable |
7,257.5 |
|
|
6,318.7 |
|
|
1,388.5 |
|
|
(14,964.7 |
) |
|
— |
|
Other accrued expenses and liabilities |
518.2 |
|
|
171.1 |
|
|
76.1 |
|
|
(343.0 |
) |
|
422.4 |
|
Total current liabilities |
7,836.1 |
|
|
6,617.6 |
|
|
1,531.9 |
|
|
(15,307.7 |
) |
|
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 |
47.5 |
|
|
41.8 |
|
|
133.2 |
|
|
— |
|
|
222.5 |
|
Stockholders’ equity |
2,860.3 |
|
|
5,367.0 |
|
|
1,948.2 |
|
|
(7,315.2 |
) |
|
2,860.3 |
|
Total liabilities and stockholders’ equity |
$ |
13,994.9 |
|
|
$ |
14,231.1 |
|
|
$ |
3,699.7 |
|
|
$ |
(24,287.6 |
) |
|
$ |
7,638.1 |
|
|
| 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, 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 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Comprehensive Income for the Nine Months Ended November 30, 2012 |
Sales |
$ |
1,536.7 |
|
|
$ |
1,283.5 |
|
|
$ |
623.7 |
|
|
$ |
(1,060.5 |
) |
|
$ |
2,383.4 |
|
Less – excise taxes |
(158.8 |
) |
|
(74.8 |
) |
|
(49.6 |
) |
|
— |
|
|
(283.2 |
) |
Net sales |
1,377.9 |
|
|
1,208.7 |
|
|
574.1 |
|
|
(1,060.5 |
) |
|
2,100.2 |
|
Cost of product sold |
(1,105.0 |
) |
|
(857.5 |
) |
|
(344.1 |
) |
|
1,052.9 |
|
|
(1,253.7 |
) |
Gross profit |
272.9 |
|
|
351.2 |
|
|
230.0 |
|
|
(7.6 |
) |
|
846.5 |
|
Selling, general and administrative expenses |
(249.2 |
) |
|
(81.0 |
) |
|
(130.7 |
) |
|
9.9 |
|
|
(451.0 |
) |
Operating income |
23.7 |
|
|
270.2 |
|
|
99.3 |
|
|
2.3 |
|
|
395.5 |
|
Equity in earnings of equity method investees and subsidiaries |
427.0 |
|
|
183.5 |
|
|
0.4 |
|
|
(427.3 |
) |
|
183.6 |
|
Interest income |
0.4 |
|
|
— |
|
|
4.3 |
|
|
— |
|
|
4.7 |
|
Intercompany interest income |
59.2 |
|
|
144.1 |
|
|
1.2 |
|
|
(204.5 |
) |
|
— |
|
Interest expense |
(169.0 |
) |
|
(0.6 |
) |
|
(1.8 |
) |
|
— |
|
|
(171.4 |
) |
Intercompany interest expense |
(144.1 |
) |
|
(60.3 |
) |
|
(0.1 |
) |
|
204.5 |
|
|
— |
|
Loss on write-off of financing costs |
(2.8 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(2.8 |
) |
Income before income taxes |
194.4 |
|
|
536.9 |
|
|
103.3 |
|
|
(425.0 |
) |
|
409.6 |
|
Benefit from (provision for) income taxes |
111.7 |
|
|
(227.1 |
) |
|
12.4 |
|
|
(0.5 |
) |
|
(103.5 |
) |
Net income |
$ |
306.1 |
|
|
$ |
309.8 |
|
|
$ |
115.7 |
|
|
$ |
(425.5 |
) |
|
$ |
306.1 |
|
Comprehensive income |
$ |
297.7 |
|
|
$ |
308.7 |
|
|
$ |
108.6 |
|
|
$ |
(417.3 |
) |
|
$ |
297.7 |
|
|
|
|
|
|
|
|
|
|
|
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 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Comprehensive Income for the Three Months Ended November 30, 2012 |
Sales |
$ |
570.1 |
|
|
$ |
483.1 |
|
|
$ |
223.5 |
|
|
$ |
(416.3 |
) |
|
$ |
860.4 |
|
Less – excise taxes |
(55.4 |
) |
|
(20.2 |
) |
|
(17.9 |
) |
|
— |
|
|
(93.5 |
) |
Net sales |
514.7 |
|
|
462.9 |
|
|
205.6 |
|
|
(416.3 |
) |
|
766.9 |
|
Cost of product sold |
(424.3 |
) |
|
(320.0 |
) |
|
(124.8 |
) |
|
413.0 |
|
|
(456.1 |
) |
Gross profit |
90.4 |
|
|
142.9 |
|
|
80.8 |
|
|
(3.3 |
) |
|
310.8 |
|
Selling, general and administrative expenses |
(82.6 |
) |
|
(28.7 |
) |
|
(44.8 |
) |
|
4.1 |
|
|
(152.0 |
) |
Operating income |
7.8 |
|
|
114.2 |
|
|
36.0 |
|
|
0.8 |
|
|
158.8 |
|
Equity in earnings of equity method investees and subsidiaries |
141.4 |
|
|
53.9 |
|
|
0.2 |
|
|
(143.0 |
) |
|
52.5 |
|
Interest income |
0.3 |
|
|
— |
|
|
1.5 |
|
|
— |
|
|
1.8 |
|
Intercompany interest income |
19.7 |
|
|
48.7 |
|
|
0.4 |
|
|
(68.8 |
) |
|
— |
|
Interest expense |
(62.9 |
) |
|
— |
|
|
(0.3 |
) |
|
— |
|
|
(63.2 |
) |
Intercompany interest expense |
(48.7 |
) |
|
(20.1 |
) |
|
— |
|
|
68.8 |
|
|
— |
|
Income before income taxes |
57.6 |
|
|
196.7 |
|
|
37.8 |
|
|
(142.2 |
) |
|
149.9 |
|
Benefit from (provision for) income taxes |
51.9 |
|
|
(96.1 |
) |
|
4.0 |
|
|
(0.2 |
) |
|
(40.4 |
) |
Net income |
$ |
109.5 |
|
|
$ |
100.6 |
|
|
$ |
41.8 |
|
|
$ |
(142.4 |
) |
|
$ |
109.5 |
|
Comprehensive income |
$ |
117.1 |
|
|
$ |
101.0 |
|
|
$ |
47.3 |
|
|
$ |
(148.3 |
) |
|
$ |
117.1 |
|
|
| Condensed Consolidating Statement of Cash Flows |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Cash Flows for the 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: |
|
|
|
|
|
|
|
|
|
Purchase of business, net of cash acquired |
— |
|
|
(1,770.1 |
) |
|
(2,910.9 |
) |
|
— |
|
|
(4,681.0 |
) |
Purchases of property, plant and equipment |
(5.7 |
) |
|
(45.9 |
) |
|
(34.3 |
) |
|
— |
|
|
(85.9 |
) |
Proceeds from sales of assets |
— |
|
|
0.2 |
|
|
7.6 |
|
|
— |
|
|
7.8 |
|
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 |
— |
|
|
2.2 |
|
|
(0.6 |
) |
|
— |
|
|
1.6 |
|
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 |
|
|
— |
|
Proceeds from issuance of long-term debt |
2,225.0 |
|
|
— |
|
|
1,500.0 |
|
|
— |
|
|
3,725.0 |
|
Net proceeds from notes payable |
— |
|
|
— |
|
|
170.6 |
|
|
— |
|
|
170.6 |
|
Proceeds from exercises of employee stock options |
93.1 |
|
|
— |
|
|
— |
|
|
— |
|
|
93.1 |
|
Excess tax benefits from stock-based payment awards |
64.7 |
|
|
— |
|
|
— |
|
|
— |
|
|
64.7 |
|
Proceeds from employee stock purchases |
2.5 |
|
|
— |
|
|
— |
|
|
— |
|
|
2.5 |
|
Principal payments of long-term debt |
(49.3 |
) |
|
(15.0 |
) |
|
(26.3 |
) |
|
— |
|
|
(90.6 |
) |
Payments of financing costs of long-term debt |
(69.6 |
) |
|
— |
|
|
(12.6 |
) |
|
— |
|
|
(82.2 |
) |
Payments of minimum tax withholdings on stock-based payment awards |
— |
|
|
(16.4 |
) |
|
(1.6 |
) |
|
— |
|
|
(18.0 |
) |
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 |
|
|
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statement of Cash Flows for the Nine Months Ended November 30, 2012 |
Net cash (used in) provided by operating activities |
$ |
(217.5 |
) |
|
$ |
506.4 |
|
|
$ |
100.1 |
|
|
$ |
— |
|
|
$ |
389.0 |
|
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
|
Purchase of business, net of cash acquired |
— |
|
|
(159.3 |
) |
|
— |
|
|
— |
|
|
(159.3 |
) |
Purchases of property, plant and equipment |
(7.9 |
) |
|
(33.4 |
) |
|
(10.9 |
) |
|
— |
|
|
(52.2 |
) |
Proceeds from sales of assets |
— |
|
|
4.9 |
|
|
3.1 |
|
|
— |
|
|
8.0 |
|
Proceeds from notes receivable |
1.2 |
|
|
3.4 |
|
|
— |
|
|
— |
|
|
4.6 |
|
Net proceeds from intercompany notes |
307.2 |
|
|
— |
|
|
— |
|
|
(307.2 |
) |
|
— |
|
Net returns of capital from equity affiliates |
14.0 |
|
|
— |
|
|
— |
|
|
(14.0 |
) |
|
— |
|
Other investing activities |
(0.5 |
) |
|
0.2 |
|
|
(1.0 |
) |
|
— |
|
|
(1.3 |
) |
Net cash provided by (used in) investing activities |
314.0 |
|
|
(184.2 |
) |
|
(8.8 |
) |
|
(321.2 |
) |
|
(200.2 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
Company
|
|
Subsidiary
Guarantors
|
|
Subsidiary
Nonguarantors
|
|
Eliminations |
|
Consolidated |
(in millions) |
|
|
|
|
|
|
|
|
|
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
|
Net contributions from (returns of capital to) equity affiliates |
0.1 |
|
|
(7.9 |
) |
|
(6.2 |
) |
|
14.0 |
|
|
— |
|
Net proceeds from (repayments of) intercompany notes |
0.5 |
|
|
(307.5 |
) |
|
(0.2 |
) |
|
307.2 |
|
|
— |
|
Proceeds from issuance of long-term debt |
2,050.0 |
|
|
— |
|
|
— |
|
|
— |
|
|
2,050.0 |
|
Net repayments of notes payable |
(298.0 |
) |
|
— |
|
|
(58.0 |
) |
|
— |
|
|
(356.0 |
) |
Proceeds from exercises of employee stock options |
135.0 |
|
|
— |
|
|
— |
|
|
— |
|
|
135.0 |
|
Excess tax benefits from stock-based payment awards |
17.2 |
|
|
— |
|
|
— |
|
|
— |
|
|
17.2 |
|
Proceeds from employee stock purchases |
2.1 |
|
|
— |
|
|
— |
|
|
— |
|
|
2.1 |
|
Principal payments of long-term debt |
(846.4 |
) |
|
(5.2 |
) |
|
— |
|
|
— |
|
|
(851.6 |
) |
Payments of financing costs of long-term debt |
(35.2 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(35.2 |
) |
Payments of minimum tax withholdings on stock-based payment awards |
— |
|
|
— |
|
|
(0.5 |
) |
|
— |
|
|
(0.5 |
) |
Payment of restricted cash upon issuance of long-term debt |
(650.0 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(650.0 |
) |
Purchases of treasury stock |
(383.0 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(383.0 |
) |
Net cash used in financing activities |
(7.7 |
) |
|
(320.6 |
) |
|
(64.9 |
) |
|
321.2 |
|
|
(72.0 |
) |
|
|
|
|
|
|
|
|
|
|
|
Effect of exchange rate changes on cash
and cash investments
|
— |
|
|
— |
|
|
(2.1 |
) |
|
— |
|
|
(2.1 |
) |
|
|
|
|
|
|
|
|
|
|
Net increase in cash and cash investments |
88.8 |
|
|
1.6 |
|
|
24.3 |
|
|
— |
|
|
114.7 |
|
|
Cash and cash investments, beginning
of period
|
0.5 |
|
|
0.6 |
|
|
84.7 |
|
|
— |
|
|
85.8 |
|
|
Cash and cash investments, end of
period
|
$ |
89.3 |
|
|
$ |
2.2 |
|
|
$ |
109.0 |
|
|
$ |
— |
|
|
$ |
200.5 |
|
|