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Income Taxes
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6 Months Ended |
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Aug. 31, 2014
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| Income Tax Disclosure [Abstract] | |
| INCOME TAXES |
INCOME TAXES:
The Company’s effective tax rate for the six months ended August 31, 2014, and August 31, 2013, was 32.4% and 5.7%, respectively. The Company’s effective tax rate for the three months ended August 31, 2014, and August 31, 2013, was 32.2% and 4.1%, respectively.
The Company’s effective tax rate for both the six months and three months ended August 31, 2014, benefited primarily from the integration of the Beer Business Acquisition. The Company’s effective tax rate for both the six months and three months ended August 31, 2013, was favorably impacted by the Beer Business Acquisition, primarily attributable to the recognition of the nontaxable gain on the remeasurement to fair value of the Company’s preexisting 50% equity interest in Crown Imports of $1,642.0 million, and the recognition of tax benefits of $6.6 million related to the resolution of certain tax positions, partially offset by the write-off of nondeductible goodwill of $278.7 million.
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- Details
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- Definition
The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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