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Supplemental Guarantor Information
 12 Months Ended
Dec. 29, 2012
Supplemental Guarantor Information [Abstract]  
Supplemental Guarantor Information
Supplemental Guarantor Information
        For purposes of this Note 21, including the tables, "Parent Guarantor, 2007 and 2012 Issuer" shall mean MCBC and "Subsidiary Guarantors" shall mean certain U.S., U.K. and Canadian subsidiaries reflecting the substantial operations of each of our segments, with the exception of Central Europe and MCI.
SEC Registered Securities
On June 15, 2007, MCBC issued $575 million of 2.5% Convertible Senior Notes due July 30, 2013, in a registered public offering (see Note 14, "Debt"). The convertible notes are guaranteed on a senior unsecured basis by the Subsidiary Guarantors, each of which is 100% owned by the Parent Guarantor. The guarantees are full and unconditional and joint and several.
On May 3, 2012, MCBC issued $1.9 billion of senior notes, in a registered public offering, consisting of $300 million 2.0% senior notes due 2017, $500 million 3.5% senior notes due 2022, and $1.1 billion 5.0% senior notes due 2042. These senior notes are guaranteed on a senior unsecured basis by the Subsidiary Guarantors. Each of the Subsidiary Guarantors is 100% owned by the Parent Guarantor. The guarantees are full and unconditional and joint and several. The issuance of this debt also required the simultaneous addition of guarantors to our existing senior unsecured notes, pursuant to requirements of the respective debt agreements. This resulted in a change to the presentation of our guarantor financial statements to include the new guarantor entities (primarily our U.K. operations) as guarantors on all current and future filings, as well as to recast the historical presentation to include these entities within the Subsidiary Guarantor column. See Note 14, "Debt" for further discussion of the senior notes issuance.
Other Debt
On September 22, 2005, Molson Coors Capital Finance ULC ("MC Capital Finance") issued $1.1 billion of senior notes consisting of $300 million 4.85% U.S. publicly registered notes due 2010 and CAD 900 million 5.00% privately placed notes maturing on September 22, 2015. These CAD 900 million senior notes were subsequently exchanged for substantially identical CAD 900 million senior notes which were quantified by way of a prospectus in Canada. In connection with an internal corporate reorganization, Molson Coors International LP ("MCI LP") was subsequently added as a co-issuer of the CAD 900 million senior notes. Following the repayment of our $300 million senior notes in 2010, we were no longer required to present the “2005 and 2010 Issuer” column (historically consisting of MC Capital Finance and MCI LP) and as such have removed that column. Additionally, the continuous disclosure requirements applicable to MC Capital Finance in Canada are satisfied through the consolidating financial information in respect of MC Capital Finance, MCI LP and other subsidiary guarantors of the CAD 900 million senior notes as currently presented within the Subsidiary Guarantors column.
None of our other outstanding debt is publicly registered and it is all guaranteed on a senior and unsecured basis by the Parent Guarantor and certain Subsidiary Guarantors. These guarantees are full and unconditional and joint and several. See Note 14, "Debt" for details of all debt issued and outstanding as of December 29, 2012.
Presentation
On May 7, 2002, CBC completed a public offering of $850 million principal amount of 6.375% 10-year senior notes due 2012, which were repaid in full during the second quarter of 2012. Following the repayment, we are no longer required to present the "2002 Issuer" column (historically representing CBC) and as such have removed the column from the current and historical guarantor financial statements. CBC remains a guarantor of our existing senior unsecured notes, as such, the results of CBC are now included in the Subsidiary Guarantors column.
The following information sets forth the condensed consolidating statements of operations for the fiscal years ended December 29, 2012, December 31, 2011, and December 25, 2010, condensed consolidating balance sheets as of December 29, 2012, and December 31, 2011, and condensed consolidating statements of cash flows for the fiscal years ended December 29, 2012, December 31, 2011, and December 25, 2010. Investments in subsidiaries are accounted for on the equity method; accordingly, entries necessary to consolidate the Parent Guarantor, each of the issuers and all of our guarantor and non-guarantor subsidiaries are reflected in the eliminations column. In the opinion of management, separate complete financial statements of MCBC, CBC and the Subsidiary Guarantors would not provide additional material information that would be useful in assessing their financial composition.
MOLSON COORS BREWING COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
FOR THE FISCAL YEAR ENDED DECEMBER 29, 2012
(IN MILLIONS)
 
Parent
Guarantor,
2007 and
2012 Issuer
 
Subsidiary
Guarantors
 
Subsidiary
Non
Guarantors
 
Eliminations
 
Consolidated
Sales
$
20.7

 
$
4,839.5

 
$
947.8

 
$
(193.0
)
 
$
5,615.0

Excise taxes
—

 
(1,503.9
)
 
(194.6
)
 
—

 
(1,698.5
)
Net sales
20.7

 
3,335.6

 
753.2

 
(193.0
)
 
3,916.5

Cost of goods sold
—

 
(1,954.2
)
 
(558.1
)
 
159.8

 
(2,352.5
)
Gross profit
20.7

 
1,381.4

 
195.1

 
(33.2
)
 
1,564.0

Marketing, general and administrative expenses
(113.7
)
 
(814.7
)
 
(230.9
)
 
33.2

 
(1,126.1
)
Special items, net
(4.1
)
 
(35.2
)
 
(42.1
)
 
—

 
(81.4
)
Equity income (loss) in subsidiaries
391.9

 
(582.7
)
 
393.6

 
(202.8
)
 
—

Equity income in MillerCoors
—

 
510.9

 
—

 
—

 
510.9

Operating income (loss)
294.8

 
459.7

 
315.7

 
(202.8
)
 
867.4

Interest income (expense), net
(107.7
)
 
312.8

 
(390.1
)
 
—

 
(185.0
)
Other income (expense), net
30.1

 
(39.9
)
 
(80.5
)
 
—

 
(90.3
)
Income (loss) from continuing operations before income taxes
217.2

 
732.6

 
(154.9
)
 
(202.8
)
 
592.1

Income tax benefit (expense)
225.8

 
(345.8
)
 
(34.5
)
 
—

 
(154.5
)
Net income (loss) from continuing operations
443.0

 
386.8

 
(189.4
)
 
(202.8
)
 
437.6

Income (loss) from discontinued operations, net of tax
—

 
—

 
1.5

 
—

 
1.5

Net income (loss) including noncontrolling interests
443.0

 
386.8

 
(187.9
)
 
(202.8
)
 
439.1

Add back (less): Loss (net income) attributable to noncontrolling interests
—

 
—

 
3.9

 
—

 
3.9

Net income (loss) attributable to MCBC
$
443.0

 
$
386.8

 
$
(184.0
)
 
$
(202.8
)
 
$
443.0

Comprehensive income (loss) attributable to MCBC
$
598.3

 
$
529.8

 
$
(167.7
)
 
$
(362.1
)
 
$
598.3


MOLSON COORS BREWING COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
FOR THE FISCAL YEAR ENDED DECEMBER 31, 2011
(IN MILLIONS)
 
Parent
Guarantor,
2007 and
2012 Issuer
 
Subsidiary
Guarantors
 
Subsidiary
Non
Guarantors
 
Eliminations
 
Consolidated
Sales
$
28.2

 
$
5,061.3

 
$
276.4

 
$
(196.0
)
 
$
5,169.9

Excise taxes
—

 
(1,603.3
)
 
(50.9
)
 
—

 
(1,654.2
)
Net sales
28.2

 
3,458.0

 
225.5

 
(196.0
)
 
3,515.7

Cost of goods sold
—

 
(1,947.9
)
 
(266.0
)
 
164.8

 
(2,049.1
)
Gross profit
28.2

 
1,510.1

 
(40.5
)
 
(31.2
)
 
1,466.6

Marketing, general and administrative expenses
(119.3
)
 
(852.7
)
 
(78.2
)
 
31.2

 
(1,019.0
)
Special items, net
(0.8
)
 
(11.2
)
 
(0.3
)
 
—

 
(12.3
)
Equity income (loss) in subsidiaries
736.5

 
(426.1
)
 
446.6

 
(757.0
)
 
—

Equity income in MillerCoors
—

 
457.9

 
—

 
—

 
457.9

Operating income (loss)
644.6

 
678.0

 
327.6

 
(757.0
)
 
893.2

Interest income (expense), net
(28.8
)
 
275.9

 
(355.1
)
 
—

 
(108.0
)
Other income (expense), net
(10.6
)
 
(2.4
)
 
2.0

 
—

 
(11.0
)
Income (loss) from continuing operations before income taxes
605.2

 
951.5

 
(25.5
)
 
(757.0
)
 
774.2

Income tax benefit (expense)
71.1

 
(213.2
)
 
42.7

 
—

 
(99.4
)
Net income (loss) from continuing operations
676.3

 
738.3

 
17.2

 
(757.0
)
 
674.8

Income (loss) from discontinued operations, net of tax
—

 
—

 
2.3

 
—

 
2.3

Net income (loss) including noncontrolling interests
676.3

 
738.3

 
19.5

 
(757.0
)
 
677.1

Add back (less): Loss (net income) attributable to noncontrolling interests
—

 
—

 
(0.8
)
 
—

 
(0.8
)
Net income (loss) attributable to MCBC
$
676.3

 
$
738.3

 
$
18.7

 
$
(757.0
)
 
$
676.3

Comprehensive income (loss) attributable to MCBC
$
375.5

 
$
455.7

 
$
(145.0
)
 
$
(310.7
)
 
$
375.5


MOLSON COORS BREWING COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
FOR THE FISCAL YEAR ENDED DECEMBER 25, 2010
(IN MILLIONS)
 
Parent
Guarantor,
2007 and
2012 Issuer
 
Subsidiary
Guarantors
 
Subsidiary
Non
Guarantors
 
Eliminations
 
Consolidated
Sales
$
22.4

 
$
4,710.3

 
$
135.5

 
$
(165.1
)
 
$
4,703.1

Excise taxes
—

 
(1,433.5
)
 
(15.2
)
 
—

 
(1,448.7
)
Net sales
22.4

 
3,276.8

 
120.3

 
(165.1
)
 
3,254.4

Cost of goods sold
—

 
(1,780.3
)
 
(174.3
)
 
142.4

 
(1,812.2
)
Gross profit
22.4

 
1,496.5

 
(54.0
)
 
(22.7
)
 
1,442.2

Marketing, general and administrative expenses
(122.9
)
 
(850.3
)
 
(63.5
)
 
24.2

 
(1,012.5
)
Special items, net
(1.2
)
 
(17.5
)
 
(2.6
)
 
—

 
(21.3
)
Equity income (loss) in subsidiaries
775.7

 
(407.0
)
 
456.1

 
(824.8
)
 
—

Equity income in MillerCoors
—

 
456.1

 
—

 
—

 
456.1

Operating income (loss)
674.0

 
677.8

 
336.0

 
(823.3
)
 
864.5

Interest income (expense), net
(33.3
)
 
245.1

 
(311.2
)
 
—

 
(99.4
)
Other income (expense), net
55.3

 
6.7

 
(18.1
)
 
—

 
43.9

Income (loss) from continuing operations before income taxes
696.0

 
929.6

 
6.7

 
(823.3
)
 
809.0

Income tax benefit (expense)
11.7

 
(157.0
)
 
6.6

 
—

 
(138.7
)
Net income (loss) from continuing operations
707.7

 
772.6

 
13.3

 
(823.3
)
 
670.3

Income (loss) from discontinued operations, net of tax
—

 
—

 
39.6

 
—

 
39.6

Net income (loss) including noncontrolling interests
707.7

 
772.6

 
52.9

 
(823.3
)
 
709.9

Add back (less): Loss (net income) attributable to noncontrolling interests
—

 
—

 
(2.2
)
 
—

 
(2.2
)
Net income (loss) attributable to MCBC
$
707.7

 
$
772.6

 
$
50.7

 
$
(823.3
)
 
$
707.7

Comprehensive income (loss) attributable to MCBC
$
858.1

 
$
854.8

 
$
128.0

 
$
(982.8
)
 
$
858.1

MOLSON COORS BREWING COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING BALANCE SHEETS
AS OF DECEMBER 29, 2012
(IN MILLIONS)
 
Parent
Guarantor,
2007 and
2012 Issuer
 
Subsidiary
Guarantors
 
Subsidiary
Non
Guarantors
 
Eliminations
 
Consolidated
Assets
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
189.8

 
$
249.3

 
$
184.9

 
$
—

 
$
624.0

Accounts receivable, net
1.7

 
524.7

 
134.1

 
—

 
660.5

Other receivables, net
22.7

 
54.6

 
15.6

 
—

 
92.9

Total inventories, net
—

 
172.5

 
41.4

 
—

 
213.9

Other assets, net
10.7

 
67.1

 
39.7

 
—

 
117.5

Deferred tax assets
—

 
—

 
40.7

 
(1.5
)
 
39.2

Intercompany accounts receivable
—

 
2,077.8

 
1,137.5

 
(3,215.3
)
 
—

Total current assets
224.9

 
3,146.0

 
1,593.9

 
(3,216.8
)
 
1,748.0

Properties, net
25.1

 
1,338.9

 
631.9

 
—

 
1,995.9

Goodwill
—

 
1,068.5

 
1,384.6

 
—

 
2,453.1

Other intangibles, net
—

 
4,606.8

 
2,628.0

 
—

 
7,234.8

Investment in MillerCoors
—

 
2,431.8

 
—

 
—

 
2,431.8

Net investment in and advances to subsidiaries
11,342.2

 
2,291.6

 
5,291.7

 
(18,925.5
)
 
—

Deferred tax assets
47.4

 
104.8

 
4.9

 
(31.7
)
 
125.4

Other assets, net
38.6

 
125.0

 
59.6

 
—

 
223.2

Total assets
$
11,678.2

 
$
15,113.4

 
$
11,594.6

 
$
(22,174.0
)
 
$
16,212.2

Liabilities and equity
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
Accounts payable
$
6.9

 
$
250.4

 
$
169.7

 
$
—

 
$
427.0

Accrued expenses and other liabilities, net
57.1

 
537.3

 
165.5

 
—

 
759.9

Derivative hedging instruments
—

 
6.0

 
—

 
—

 
6.0

Deferred tax liability
11.3

 
142.5

 
—

 
(1.5
)
 
152.3

Current portion of long-term debt and short-term borrowings
564.2

 
668.3

 
13.1

 
—

 
1,245.6

Discontinued operations
—

 
—

 
7.9

 
—

 
7.9

Intercompany accounts payable
1,166.3

 
1,133.3

 
915.7

 
(3,215.3
)
 
—

Total current liabilities
1,805.8

 
2,737.8

 
1,271.9

 
(3,216.8
)
 
2,598.7

Long-term debt
1,895.6

 
1,402.5

 
124.4

 
—

 
3,422.5

Pension and postretirement benefits
3.3

 
823.1

 
6.6

 
—

 
833.0

Derivative hedging instruments
—

 
222.2

 
—

 
—

 
222.2

Deferred tax liability
—

 
—

 
980.2

 
(31.7
)
 
948.5

Other liabilities, net
6.6

 
64.4

 
104.7

 
—

 
175.7

Discontinued operations
—

 
—

 
20.0

 
—

 
20.0

Intercompany notes payable
—

 
1,135.8

 
6,971.9

 
(8,107.7
)
 
—

Total liabilities
3,711.3

 
6,385.8

 
9,479.7

 
(11,356.2
)
 
8,220.6

MCBC stockholders' equity
8,843.9

 
15,036.7

 
3,011.8

 
(18,925.5
)
 
7,966.9

Intercompany notes receivable
(877.0
)
 
(6,309.1
)
 
(921.6
)
 
8,107.7

 
—

Total stockholders' equity
7,966.9

 
8,727.6

 
2,090.2

 
(10,817.8
)
 
7,966.9

Noncontrolling interests
—

 
—

 
24.7

 
—

 
24.7

Total equity
7,966.9

 
8,727.6

 
2,114.9

 
(10,817.8
)
 
7,991.6

Total liabilities and equity
$
11,678.2

 
$
15,113.4

 
$
11,594.6

 
$
(22,174.0
)
 
$
16,212.2

MOLSON COORS BREWING COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING BALANCE SHEETS
AS OF DECEMBER 31, 2011
(IN MILLIONS)
 
Parent
Guarantor,
2007 and
2012 Issuer
 
Subsidiary
Guarantors
 
Subsidiary
Non Guarantors
 
Eliminations
 
Consolidated
Assets
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
601.1

 
$
422.5

 
$
55.3

 
$
—

 
$
1,078.9

Accounts receivable, net
0.9

 
550.8

 
37.1

 
—

 
588.8

Other receivables, net
46.9

 
84.0

 
6.3

 
—

 
137.2

Total inventories, net
—

 
193.0

 
14.2

 
—

 
207.2

Other assets, net
9.7

 
74.2

 
10.1

 
—

 
94.0

Deferred tax assets
—

 
—

 
12.1

 
(0.5
)
 
11.6

Discontinued operations
—

 
—

 
0.3

 
—

 
0.3

Intercompany accounts receivable
—

 
1,522.0

 
1,612.9

 
(3,134.9
)
 
—

Total current assets
658.6

 
2,846.5

 
1,748.3

 
(3,135.4
)
 
2,118.0

Properties, net
27.6

 
1,314.0

 
88.5

 
—

 
1,430.1

Goodwill
—

 
1,033.0

 
420.3

 
—

 
1,453.3

Other intangibles, net
—

 
4,525.3

 
60.7

 
—

 
4,586.0

Investment in MillerCoors
—

 
2,487.9

 
—

 
—

 
2,487.9

Net investment in and advances to subsidiaries
7,925.2

 
1,056.3

 
5,363.3

 
(14,344.8
)
 
—

Deferred tax assets
33.1

 
149.2

 
2.3

 
(34.7
)
 
149.9

Other assets, net
19.8

 
155.6

 
23.2

 
—

 
198.6

Total assets
$
8,664.3

 
$
13,567.8

 
$
7,706.6

 
$
(17,514.9
)
 
$
12,423.8

Liabilities and equity
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
Accounts payable
$
7.3

 
$
256.1

 
$
37.8

 
$
—

 
$
301.2

Accrued expenses and other liabilities, net
34.6

 
579.9

 
32.3

 
—

 
646.8

Derivative hedging instruments
—

 
107.6

 
—

 
—

 
107.6

Deferred tax liability
6.2

 
155.6

 
—

 
(0.5
)
 
161.3

Current portion of long-term debt and short-term borrowings
—

 
44.7

 
2.2

 
—

 
46.9

Discontinued operations
—

 
—

 
13.4

 
—

 
13.4

Intercompany accounts payable
413.8

 
1,646.6

 
1,074.5

 
(3,134.9
)
 
—

Total current liabilities
461.9

 
2,790.5

 
1,160.2

 
(3,135.4
)
 
1,277.2

Long-term debt
546.2

 
1,368.7

 
—

 
—

 
1,914.9

Pension and postretirement benefits
—

 
693.6

 
3.9

 
—

 
697.5

Derivative hedging instruments
—

 
212.5

 
—

 
—

 
212.5

Deferred tax liability
—

 
—

 
490.3

 
(34.7
)
 
455.6

Other liabilities, net
8.3

 
53.0

 
92.6

 
—

 
153.9

Discontinued operations
—

 
—

 
22.0

 
—

 
22.0

Intercompany notes payable
—

 
1,504.0

 
4,971.6

 
(6,475.6
)
 
—

Total liabilities
1,016.4

 
6,622.3

 
6,740.6

 
(9,645.7
)
 
4,733.6

MCBC stockholders' equity
8,267.8

 
11,917.0

 
1,807.9

 
(14,344.8
)
 
7,647.9

Intercompany notes receivable
(619.9
)
 
(4,971.5
)
 
(884.2
)
 
6,475.6

 
—

Total stockholders' equity
7,647.9

 
6,945.5

 
923.7

 
(7,869.2
)
 
7,647.9

Noncontrolling interests
—

 
—

 
42.3

 
—

 
42.3

Total equity
7,647.9

 
6,945.5

 
966.0

 
(7,869.2
)
 
7,690.2

Total liabilities and equity
$
8,664.3

 
$
13,567.8

 
$
7,706.6

 
$
(17,514.9
)
 
$
12,423.8

MOLSON COORS BREWING COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 29, 2012
(IN MILLIONS)
 
Parent
Guarantor,
2007 and
2012 Issuer
 
Subsidiary
Guarantors
 
Subsidiary
Non
Guarantors
 
Eliminations
 
Consolidated
Net cash provided by (used in) operating activities
$
757.6

 
$
1,241.6

 
$
(380.1
)
 
$
(635.4
)
 
$
983.7

CASH FLOWS FROM INVESTING ACTIVITIES:
 
 
 
 
 
 
 
 
 
Additions to properties
(6.7
)
 
(162.8
)
 
(52.8
)
 
—

 
(222.3
)
Proceeds from sales of properties and other long-lived assets
—

 
7.9

 
7.8

 
—

 
15.7

Acquisition of businesses, net of cash acquired
—

 
—

 
(2,258.3
)
 
—

 
(2,258.3
)
Payment on discontinued operations
—

 
—

 
(6.8
)
 
—

 
(6.8
)
Investment in MillerCoors
—

 
(1,008.8
)
 
—

 
—

 
(1,008.8
)
Return of capital from MillerCoors
—

 
942.4

 
—

 
—

 
942.4

Loan repayments
—

 
22.9

 
—

 
—

 
22.9

Loan advances
—

 
(9.3
)
 
—

 
—

 
(9.3
)
Payments on settlement of derivative instruments
—

 
(110.6
)
 
—

 
—

 
(110.6
)
Net intercompany investing activity
(2,853.9
)
 
(2,621.5
)
 
—

 
5,475.4

 
—

Net cash provided by (used in) investing activities
(2,860.6
)
 
(2,939.8
)
 
(2,310.1
)
 
5,475.4

 
(2,635.1
)
CASH FLOWS FROM FINANCING ACTIVITIES:
 
 
 
 
 
 
 
 
 
Exercise of stock options under equity compensation plans
34.1

 
—

 
—

 
—

 
34.1

Excess tax benefits from share-based compensation
4.9

 
—

 
—

 
—

 
4.9

Dividends paid
(203.5
)
 
(628.6
)
 
(35.5
)
 
635.4

 
(232.2
)
Dividends paid to noncontrolling interest holders
—

 
—

 
(5.0
)
 
—

 
(5.0
)
Payments for purchase of noncontrolling interest
—

 
—

 
(27.9
)
 
—

 
(27.9
)
Proceeds from issuances of long-term debt
2,045.4

 
—

 
150.0

 
—

 
2,195.4

Debt issuance costs
(39.2
)
 
—

 
(1.1
)
 
—

 
(40.3
)
Payments of long-term debt and capital lease obligations
(150.0
)
 
(44.8
)
 
(31.9
)
 
—

 
(226.7
)
Payments on debt assumed in Acquisition
—

 
—

 
(424.3
)
 
—

 
(424.3
)
Proceeds from short-term borrowings
—

 
—

 
16.0

 
—

 
16.0

Payments on short-term borrowings
—

 
—

 
(17.2
)
 
—

 
(17.2
)
Net proceeds from (payments on) revolving credit facilities
—

 
—

 
7.8

 
—

 
7.8

Payments on settlements of debt-related derivatives
—

 
(8.2
)
 
—

 
—

 
(8.2
)
Change in overdraft balances and other
—

 
—

 
(105.0
)
 
—

 
(105.0
)
Net intercompany financing activity
—

 
2,193.1

 
3,282.3

 
(5,475.4
)
 
—

Net cash provided by (used in) financing activities
1,691.7

 
1,511.5

 
2,808.2

 
(4,840.0
)
 
1,171.4

CASH AND CASH EQUIVALENTS:
 
 
 
 
 
 
 
 
 
Net increase (decrease) in cash and cash equivalents
(411.3
)
 
(186.7
)
 
118.0

 
—

 
(480.0
)
Effect of foreign exchange rate changes on cash and cash equivalents
—

 
13.5

 
11.6

 
—

 
25.1

Balance at beginning of year
601.1

 
422.5

 
55.3

 
—

 
1,078.9

Balance at end of period
$
189.8

 
$
249.3

 
$
184.9

 
$
—

 
$
624.0

MOLSON COORS BREWING COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2011
(IN MILLIONS)
 
Parent
Guarantor
2007 and
2012 Issuer
 
Subsidiary
Guarantors
 
Subsidiary
Non
Guarantors
 
Eliminations
 
Consolidated
Net cash provided by (used in) operating activities
$
253.1

 
$
156.6

 
$
1,761.8

 
$
(1,303.4
)
 
$
868.1

CASH FLOWS FROM INVESTING ACTIVITIES:
 
 
 
 
 
 
 
 
 
Additions to properties
(3.7
)
 
(207.2
)
 
(24.5
)
 
—

 
(235.4
)
Proceeds from sales of properties and other long-lived assets
—

 
4.6

 
—

 
—

 
4.6

Acquisition of businesses, net of cash acquired
—

 
(30.7
)
 
(10.6
)
 
—

 
(41.3
)
Change in restricted cash balances
—

 
—

 
6.7

 
—

 
6.7

Investment in MillerCoors
—

 
(800.1
)
 
—

 
—

 
(800.1
)
Return of capital from MillerCoors
—

 
782.7

 
—

 
—

 
782.7

Investment in and advances to an unconsolidated affiliate
—

 
(93.9
)
 
10.7

 
—

 
(83.2
)
Loan repayments
—

 
22.4

 
—

 
—

 
22.4

Loan advances
—

 
(9.9
)
 
—

 
—

 
(9.9
)
Proceeds from settlements of derivative instruments
15.4

 
—

 
—

 
—

 
15.4

Net intercompany investing activity
15.4

 
(800.7
)
 
(2,004.5
)
 
2,789.8

 
—

Net cash provided by (used in) investing activities
27.1

 
(1,132.8
)
 
(2,022.2
)
 
2,789.8

 
(338.1
)
CASH FLOWS FROM FINANCING ACTIVITIES:
 
 
 
 
 
 
 
 
 
Exercise of stock options under equity compensation plans
11.6

 
—

 
—

 
—

 
11.6

Excess tax benefits from share-based compensation
2.0

 
—

 
—

 
—

 
2.0

Payments for purchase of treasury stock
(321.1
)
 
—

 
—

 
—

 
(321.1
)
Dividends paid
(201.4
)
 
(1,192.9
)
 
(137.2
)
 
1,303.4

 
(228.1
)
Dividends paid to noncontrolling interest holders
—

 
—

 
(2.3
)
 
—

 
(2.3
)
Debt issuance costs
(2.2
)
 
—

 
—

 
—

 
(2.2
)
Payments of long-term debt and capital lease obligations
—

 
(0.3
)
 
—

 
—

 
(0.3
)
Proceeds from short-term borrowings
—

 
11.9

 
(5.1
)
 
—

 
6.8

Payments on short-term borrowings
—

 
(3.0
)
 
(15.3
)
 
—

 
(18.3
)
Net proceeds from (payments on) revolving credit facilities
—

 
2.1

 
—

 
—

 
2.1

Payments on settlements of debt-related derivatives
—

 
(104.5
)
 
—

 
—

 
(104.5
)
Change in overdraft balances and other
—

 
(10.8
)
 
—

 
—

 
(10.8
)
Net intercompany financing activity
—

 
2,364.0

 
425.8

 
(2,789.8
)
 
—

Net cash provided by (used in) financing activities
(511.1
)
 
1,066.5

 
265.9

 
(1,486.4
)
 
(665.1
)
CASH AND CASH EQUIVALENTS:
 
 
 
 
 
 
 
 
 
Net increase (decrease) in cash and cash equivalents
(230.9
)
 
90.3

 
5.5

 
—

 
(135.1
)
Effect of foreign exchange rate changes on cash and cash equivalents
—

 
(17.3
)
 
13.7

 
—

 
(3.6
)
Balance at beginning of year
832.0

 
349.5

 
36.1

 
—

 
1,217.6

Balance at end of period
$
601.1

 
$
422.5

 
$
55.3

 
$
—

 
$
1,078.9

MOLSON COORS BREWING COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 25, 2010
(IN MILLIONS)
 
Parent
Guarantor,
2007 and
2012 Issuer
 
Subsidiary
Guarantors
 
Subsidiary
Non
Guarantors
 
Eliminations
 
Consolidated
Net cash provided by (used in) operating activities
$
491.2

 
$
1,432.0

 
$
(727.9
)
 
$
(445.6
)
 
$
749.7

CASH FLOWS FROM INVESTING ACTIVITIES:
 
 
 
 
 
 
 
 
 
Additions to properties
(5.8
)
 
(164.8
)
 
(7.3
)
 
—

 
(177.9
)
Proceeds from sales of properties and other long-lived assets
—

 
5.2

 
—

 
—

 
5.2

Acquisition of businesses, net of cash acquired
—

 
—

 
(19.8
)
 
—

 
(19.8
)
Change in restricted cash balances
—

 
—

 
(10.8
)
 
—

 
(10.8
)
Payment on discontinued operations
—

 
—

 
(96.0
)
 
—

 
(96.0
)
Investment in MillerCoors
—

 
(1,071.2
)
 
—

 
—

 
(1,071.2
)
Return of capital from MillerCoors
—

 
1,060.3

 
—

 
—

 
1,060.3

Loan repayments
—

 
16.6

 
—

 
—

 
16.6

Loan advances
—

 
(9.1
)
 
—

 
—

 
(9.1
)
Proceeds from settlements of derivative instruments
35.1

 
—

 
—

 
—

 
35.1

Other
—

 
0.1

 
0.1

 
—

 
0.2

Net intercompany investing activity
(54.7
)
 
2,477.8

 
(1,367.4
)
 
(1,055.7
)
 
—

Net cash provided by (used in) investing activities
(25.4
)
 
2,314.9

 
(1,501.2
)
 
(1,055.7
)
 
(267.4
)
CASH FLOWS FROM FINANCING ACTIVITIES:
 
 
 
 
 
 
 
 
 
Exercise of stock options under equity compensation plans
38.5

 
—

 
—

 
—

 
38.5

Excess tax benefits from share-based compensation
4.8

 
—

 
—

 
—

 
4.8

Dividends paid
(177.0
)
 
(439.3
)
 
(30.4
)
 
445.6

 
(201.1
)
Dividends paid to noncontrolling interest holders
—

 
—

 
(3.7
)
 
—

 
(3.7
)
Proceeds from issuances of long-term debt
—

 
488.4

 
—

 
—

 
488.4

Debt issuance costs
—

 
(3.3
)
 
—

 
—

 
(3.3
)
Payments on long term-debt and capital lease obligations
—

 
(300.0
)
 
—

 
—

 
(300.0
)
Proceeds from short-term borrowings
—

 
—

 
12.1

 
—

 
12.1

Payments on short-term borrowings
—

 
—

 
(8.1
)
 
—

 
(8.1
)
Payments on settlements of debt-related derivatives
—

 
(42.0
)
 
—

 
—

 
(42.0
)
Change in overdraft balances and other
—

 
6.8

 
—

 
—

 
6.8

Net intercompany financing activity
107.1

 
(3,431.0
)
 
2,268.2

 
1,055.7

 
—

Net cash provided by (used in) financing activities
(26.6
)
 
(3,720.4
)
 
2,238.1

 
1,501.3

 
(7.6
)
CASH AND CASH EQUIVALENTS:
 
 
 
 
 
 
 
 
 
Net increase (decrease) in cash and cash equivalents
439.2

 
26.5

 
9.0

 
—

 
474.7

Effect of foreign exchange rate changes on cash and cash equivalents
—

 
13.5

 
(4.8
)
 
—

 
8.7

Balance at beginning of year
392.8

 
309.5

 
31.9

 
—

 
734.2

Balance at end of period
$
832.0

 
$
349.5

 
$
36.1

 
$
—

 
$
1,217.6