Investments (Tables)

12 Months Ended

Dec. 31, 2013

Equity Method Investments and Joint Ventures [Abstract]

MCBC's proportional share in MillerCoors of net income reported under the equity method

Summarized financial information for MillerCoors is as follows:

Condensed Balance Sheets

	As of
	December 31, 2013		December 31, 2012
	(In millions)
Current assets	$	798.4	$	841.4
Non-current assets	8,989.3		8,949.9
Total assets	$	9,787.7	$	9,791.3
Current liabilities	$	950.1	$	958.5
Non-current liabilities	1,346.2		1,537.5
Total liabilities	2,296.3		2,496.0
Noncontrolling interests	20.7		28.4
Owners' equity	7,470.7		7,266.9
Total liabilities and equity	$	9,787.7	$	9,791.3

The following represents our proportional share in MillerCoors' equity:

	As of
	December 31, 2013			December 31, 2012
	(In millions, except percentages)
MillerCoors owners' equity	$	7,470.7		$	7,266.9
MCBC economic interest	42		%	42		%
MCBC proportionate share in MillerCoors' equity	3,137.7			3,052.1
Difference between MCBC contributed cost basis and proportional share of the underlying equity in net assets of MillerCoors(1)	(666.2		)	(670.8		)
Accounting policy elections	35.0			35.0
Timing differences of cash contributions and distributions as a result of different fiscal periods	—			15.5
Investment in MillerCoors	$	2,506.5		$	2,431.8

(1) Our net investment in MillerCoors is based on the carrying values of the net assets contributed to the joint venture which is less than our proportional share of underlying equity (42%) of MillerCoors (contributed by both Coors Brewing Company ("CBC") and Miller Brewing Company ("Miller")). This basis difference, with the exception of certain non-amortizing items (goodwill, land, etc.), is being amortized as additional equity income over the remaining useful lives of the contributed long-lived amortizing assets.

Results of Operations

	For the years ended
	December 31, 2013			December 31, 2012			December 31, 2011
	(In millions)
Net sales	$	7,800.8		$	7,761.1		$	7,550.2
Cost of goods sold	(4,723.7		)	(4,689.7		)	(4,647.9		)
Gross profit	$	3,077.1		$	3,071.4		$	2,902.3
Operating income(1)	$	1,287.4		$	1,211.1		$	1,020.3
Net income attributable to MillerCoors(1)	$	1,270.5		$	1,190.9		$	1,003.8

(1) Fiscal year 2013 includes special charges related to restructuring activities and asset write-offs of $17.2 million and $2.6 million, respectively. Fiscal year 2012 includes special charges of $31.8 million primarily due to the write-down of assets related to discontinuing the production of the Home Draft package in the U.S. and the write-down of information systems assets related to a business transformation project. Fiscal year 2011 includes special charges of $60.0 million for a write-down in the value of the Sparks brand and a $50.9 million charge resulting from the planned assumption of the Milwaukee Brewery Worker's Pension Plan, an under-funded multi-employer pension plan, as well as charges related to consulting, relocation and other integration costs.

The following represents our proportional share in MillerCoors' net income, reported under the equity method:

	For the years ended
	December 31, 2013			December 31, 2012			December 31, 2011
	(In millions, except percentages)
Net income attributable to MillerCoors	$	1,270.5		$	1,190.9		$	1,003.8
MCBC economic interest	42		%	42		%	42		%
MCBC proportionate share of MillerCoors net income	533.6			500.2			421.6
Amortization of the difference between MCBC contributed cost basis and proportional share of the underlying equity in net assets of MillerCoors	4.6			4.9			35.4
Share-based compensation adjustment(1)	0.8			5.8			0.9
Equity income in MillerCoors	$	539.0		$	510.9		$	457.9

(1) The net adjustment is to record all share-based compensation associated with pre-existing equity awards to be settled in Class B common stock held by former employees now employed by MillerCoors and to eliminate all share-based compensation impacts related to pre-existing SABMiller equity awards held by former Miller employees now employed by MillerCoors. As of the end of the second quarter of 2011, the share-based awards granted to former CBC employees now employed by MillerCoors became fully vested. As such, no further adjustments will be recorded related to these awards. We are still recording adjustments to eliminate the impacts related to the pre-existing SABMiller equity awards, which represent the amounts recorded in 2013 and 2012.

Summary of Transactions with MillerCoors

The following table summarizes our transactions with MillerCoors:

	For the years ended
	December 31, 2013		December 29, 2012		December 31, 2011
	(In millions)
Beer sales to MillerCoors	$	16.6	$	18.9	$	28.2
Beer purchases from MillerCoors	$	19.2	$	13.1	$	11.5
Service agreement costs and other charges to MillerCoors	$	2.5	$	3.7	$	6.0
Service agreement costs and other charges from MillerCoors	$	1.1	$	1.2	$	1.3

Assets and Results of Operation of Consolidated Investments

The following summarizes the assets and liabilities of our consolidated VIEs (including noncontrolling interests).

	As of
	December 31, 2013				December 29, 2012
	Total Assets		Total Liabilities		Total Assets		Total Liabilities
	(In millions)
Grolsch	$	5.6	$	1.7	$	10.0	$	5.6
Cobra U.K.	$	36.5	$	1.9	$	33.2	$	3.3