Supplemental Guarantor Information Supplemental (Tables)

12 Months Ended

Dec. 31, 2013

Supplemental Guarantor Information, Statement of Operations

MOLSON COORS BREWING COMPANY AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

FOR THE FISCAL YEAR ENDED DECEMBER 31, 2013

(IN MILLIONS)



	Parent Guarantor and 2012 Issuer			Subsidiary Guarantors			Subsidiary Non Guarantors			Eliminations			Consolidated
Sales	$	27.5		$	4,784.7		$	1,388.8		$	(201.4	)	$	5,999.6
Excise taxes	—			(1,491.5		)	(302.0		)	—			(1,793.5		)
Net sales	27.5			3,293.2			1,086.8			(201.4		)	4,206.1
Cost of goods sold	—			(1,968.8		)	(718.0		)	141.2			(2,545.6		)
Gross profit	27.5			1,324.4			368.8			(60.2		)	1,660.5
Marketing, general and administrative expenses	(117.4		)	(779.1		)	(357.5		)	60.2			(1,193.8		)
Special items, net	(2.8		)	(53.5		)	(143.7		)	—			(200.0		)
Equity income (loss) in subsidiaries	668.5			(375.1		)	251.4			(544.8		)	—
Equity income in MillerCoors	—			539.0			—			—			539.0
Operating income (loss)	575.8			655.7			119.0			(544.8		)	805.7
Interest income (expense), net	(99.5		)	317.5			(388.1		)	—			(170.1		)
Other income (expense), net	(4.4		)	27.0			(3.7		)	—			18.9
Income (loss) from continuing operations before income taxes	471.9			1,000.2			(272.8		)	(544.8		)	654.5
Income tax benefit (expense)	95.4			(231.3		)	51.9			—			(84.0		)
Net income (loss) from continuing operations	567.3			768.9			(220.9		)	(544.8		)	570.5
Income (loss) from discontinued operations, net of tax	—			—			2.0			—			2.0
Net income (loss) including noncontrolling interests	567.3			768.9			(218.9		)	(544.8		)	572.5
Add back (less): Loss (net income) attributable to noncontrolling interests	—			—			(5.2		)	—			(5.2		)
Net income (loss) attributable to MCBC	$	567.3		$	768.9		$	(224.1	)	$	(544.8	)	$	567.3
Comprehensive income (loss) attributable to MCBC	$	760.2		$	1,021.8		$	146.8		$	(1,168.6	)	$	760.2

MOLSON COORS BREWING COMPANY AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

FOR THE FISCAL YEAR ENDED DECEMBER 29, 2012

(IN MILLIONS)



	Parent Guarantor 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 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

Supplemental Guarantor Information, Balance Sheets

MOLSON COORS BREWING COMPANY AND SUBSIDIARIES

CONDENSED CONSOLIDATING BALANCE SHEETS

AS OF DECEMBER 31, 2013

(IN MILLIONS)



	Parent Guarantor and 2012 Issuer			Subsidiary Guarantors			Subsidiary Non Guarantors			Eliminations			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	90.6		$	248.7		$	103.0		$	—		$	442.3
Accounts receivable, net	0.7			466.3			136.6			—			603.6
Other receivables, net	48.0			56.5			19.9			—			124.4
Total inventories, net	—			166.8			38.5			—			205.3
Other assets, net	8.4			60.1			43.2			—			111.7
Deferred tax assets	—			—			53.3			(2.9		)	50.4
Intercompany accounts receivable	—			3,186.8			196.5			(3,383.3		)	—
Total current assets	147.7			4,185.2			591.0			(3,386.2		)	1,537.7
Properties, net	31.0			1,282.8			656.3			—			1,970.1
Goodwill	—			1,161.8			1,256.9			—			2,418.7
Other intangibles, net	—			4,292.3			2,532.8			—			6,825.1
Investment in MillerCoors	—			2,506.5			—			—			2,506.5
Net investment in and advances to subsidiaries	12,860.9			3,303.7			6,654.9			(22,819.5		)	—
Deferred tax assets	28.8			3.1			1.0			5.4			38.3
Other assets, net	35.5			175.0			73.2			—			283.7
Total assets	$	13,103.9		$	16,910.4		$	11,766.1		$	(26,200.3	)	$	15,580.1
Liabilities and equity
Current liabilities:
Accounts payable and other current liabilities	$	52.2		$	925.4		$	358.8		$	—		$	1,336.4
Derivative hedging instruments	—			73.2			0.7			—			73.9
Deferred tax liability	8.8			132.2			—			(2.9		)	138.1
Current portion of long-term debt and short-term borrowings	379.7			61.8			145.4			—			586.9
Discontinued operations	—			—			6.8			—			6.8
Intercompany accounts payable	2,120.7			228.3			1,034.3			(3,383.3		)	—
Total current liabilities	2,561.4			1,420.9			1,546.0			(3,386.2		)	2,142.1
Long-term debt	1,896.2			1,316.6			0.2			—			3,213.0
Pension and postretirement benefits	2.6			453.3			6.7			—			462.6
Derivative hedging instruments	—			1.6			1.4			—			3.0
Deferred tax liability	—			—			906.0			5.4			911.4
Other liabilities, net	8.0			20.8			138.1			—			166.9
Discontinued operations	—			—			17.3			—			17.3
Intercompany notes payable	—			1,693.9			6,138.9			(7,832.8		)	—
Total liabilities	4,468.2			4,907.1			8,754.6			(11,213.6		)	6,916.3
MCBC stockholders' equity	8,638.9			18,332.5			4,487.0			(22,819.5		)	8,638.9
Intercompany notes receivable	(3.2		)	(6,329.2		)	(1,500.4		)	7,832.8			—
Total stockholders' equity	8,635.7			12,003.3			2,986.6			(14,986.7		)	8,638.9
Noncontrolling interests	—			—			24.9			—			24.9
Total equity	8,635.7			12,003.3			3,011.5			(14,986.7		)	8,663.8
Total liabilities and equity	$	13,103.9		$	16,910.4		$	11,766.1		$	(26,200.3	)	$	15,580.1

MOLSON COORS BREWING COMPANY AND SUBSIDIARIES

CONDENSED CONSOLIDATING BALANCE SHEETS

AS OF DECEMBER 29, 2012

(IN MILLIONS)



	Parent Guarantor 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	10,465.2			2,291.6			5,291.7			(18,048.5		)	—
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	$	10,801.2		$	15,113.4		$	11,594.6		$	(21,297.0	)	$	16,212.2
Liabilities and equity
Current liabilities:
Accounts payable and other current liabilities	$	64.0		$	787.7		$	335.2		$	—		$	1,186.9
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	7,966.9			15,036.7			3,011.8			(18,048.5		)	7,966.9
Intercompany notes receivable	(877.0		)	(6,309.1		)	(921.6		)	8,107.7			—
Total stockholders' equity	7,089.9			8,727.6			2,090.2			(9,940.8		)	7,966.9
Noncontrolling interests	—			—			24.7			—			24.7
Total equity	7,089.9			8,727.6			2,114.9			(9,940.8		)	7,991.6
Total liabilities and equity	$	10,801.2		$	15,113.4		$	11,594.6		$	(21,297.0	)	$	16,212.2

Supplemental Guarantor Information, Statement of Cash Flows

MOLSON COORS BREWING COMPANY AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED DECEMBER 31, 2013

(IN MILLIONS)



	Parent Guarantor and 2013 Issuer			Subsidiary Guarantors			Subsidiary Non Guarantors			Eliminations			Consolidated
Net cash provided by (used in) operating activities	$	660.9		$	579.2		$	297.3		$	(369.2	)	$	1,168.2
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to properties	(11.7		)	(154.0		)	(128.2		)	—			(293.9		)
Proceeds from sales of properties and other assets	—			45.7			7.9			—			53.6
Investment in MillerCoors	—			(1,186.5		)	—			—			(1,186.5		)
Return of capital from MillerCoors	—			1,146.0			—			—			1,146.0
Loan repayments	—			10.6			—			—			10.6
Loan advances	—			(6.8		)	—			—			(6.8		)
Net intercompany investing activity	(446.4		)	(59.3		)	(70.5		)	576.2			—
Net cash provided by (used in) investing activities	(458.1		)	(204.3		)	(190.8		)	576.2			(277.0		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Exercise of stock options under equity compensation plans	88.8			—			—			—			88.8
Excess tax benefits from share-based compensation	7.7			—			—			—			7.7
Dividends paid	(206.5		)	(142.8		)	(254.5		)	369.2			(234.6		)
Dividends paid to noncontrolling interest holders	—			—			(4.1		)	—			(4.1		)
Payments for purchase of noncontrolling interest	—			—			(0.7		)	—			(0.7		)
Debt issuance costs	(0.2		)	—			(0.2		)	—			(0.4		)
Payments on long-term debt and capital lease obligations	(578.0		)	(615.1		)	(123.9		)	—			(1,317.0		)
Proceeds from short-term borrowings	—			—			15.0			—			15.0
Payments on short-term borrowings	—			—			(15.2		)	—			(15.2		)
Net proceeds from (payments on) revolving credit facilities and commercial paper	379.6			—			127.8			—			507.4
Payments on settlement of derivative instruments	—			(119.4		)	—			—			(119.4		)
Proceeds from settlement of derivative instruments	6.6			—			—			—			6.6
Change in overdraft balances and other	—			—			6.7			—			6.7
Net intercompany financing activity	—			516.9			59.3			(576.2		)	—
Net cash provided by (used in) financing activities	(302.0		)	(360.4		)	(189.8		)	(207.0		)	(1,059.2		)
CASH AND CASH EQUIVALENTS:
Net increase (decrease) in cash and cash equivalents	(99.2		)	14.5			(83.3		)	—			(168.0		)
Effect of foreign exchange rate changes on cash and cash equivalents	—			(15.1		)	1.4			—			(13.7		)
Balance at beginning of year	189.8			249.3			184.9			—			624.0
Balance at end of period	$	90.6		$	248.7		$	103.0		$	—		$	442.3

MOLSON COORS BREWING COMPANY AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED DECEMBER 29, 2012

(IN MILLIONS)



	Parent Guarantor 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 assets	—			7.9			7.8			—			15.7
Acquisition of businesses, net of cash acquired	—			—			(2,258.3		)	—			(2,258.3		)
Investment in MillerCoors	—			(1,008.8		)	—			—			(1,008.8		)
Return of capital from MillerCoors	—			942.4			—			—			942.4
Payment on discontinued operations	—			—			(6.8		)	—			(6.8		)
Loan repayments	—			22.9			—			—			22.9
Loan advances	—			(9.3		)	—			—			(9.3		)
Proceeds from settlements 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
Payments for purchase of noncontrolling interest	—			—			(27.9		)	—			(27.9		)
Dividends paid	(203.5		)	(628.6		)	(35.5		)	635.4			(232.2		)
Dividends paid to noncontrolling interest holders	—			—			(5.0		)	—			(5.0		)
Debt issuance costs	(39.2		)	—			(1.1		)	—			(40.3		)
Proceeds from issuance of long-term debt	2,045.4			—			150.0			—			2,195.4
Payments on 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 and commercial paper	—			—			7.8			—			7.8
Payments on settlement of derivative instruments	—			(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 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 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 on 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 and commercial paper	—			2.1			—			—			2.1
Payments on settlement of derivative instruments	—			(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