Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2014

Income (loss) from continuing operations before income taxes by segment

The following tables represent consolidated net sales, consolidated interest expense, consolidated interest income, and reconciliations of amount shown as income (loss) from continuing operations before income taxes to income (loss) from continuing operations attributable to MCBC:



	Year ended December 31, 2014
	Canada⁽¹⁾		U.S.		Europe⁽²⁾			MCI			Corporate			Eliminations⁽³⁾			Consolidated
	(In millions)
Net sales	$	1,793.9	$	—	$	2,200.3		$	156.3		$	1.1		$	(5.3	)	$	4,146.3
Interest expense	—		—		—			—			(145.0		)	—			(145.0		)
Interest income	—		—		4.4			—			6.9			—			11.3
Income (loss) from continuing operations before income taxes	$	406.8	$	561.8	$	(111.9	)	$	(13.3	)	$	(257.1	)	$	—		$	586.3
Income tax benefit (expense)																	(69.0		)
Net income (loss) from continuing operations																	517.3
Net (income) loss attributable to noncontrolling interests																	(3.8		)
Net income (loss) from continuing operations attributable to MCBC																	$	513.5


(1)	Income from continuing operations for the year ended December 31, 2014, includes income of $63.2 million within special items, reflective of the agreed upon payment received from Modelo related to the termination of MMI in our Canada segment. See Note 5, "Investments" for further discussion.


(2)	Loss from continuing operations for the year ended December 31, 2014, includes a $360.0 million non-cash impairment charge related to two indefinite-lived brand intangibles in our Europe segment. See Note 12, "Goodwill and Intangible Assets" for further discussion.


(3)	Represents inter-segment sales from the Europe segment to the MCI segment.



	Year ended December 31, 2013
	Canada		U.S.		Europe⁽¹⁾		MCI			Corporate			Eliminations⁽²⁾			Consolidated
	(In millions)
Net sales	$	1,943.8	$	—	$	2,128.3	$	137.6		$	1.2		$	(4.8	)	$	4,206.1
Interest expense	—		—		—		—			(183.8		)	—			(183.8		)
Interest income	—		—		4.9		—			8.8			—			13.7
Income (loss) from continuing operations before income taxes	$	363.3	$	539.0	$	34.3	$	(11.8	)	$	(270.3	)	$	—		$	654.5
Income tax benefit (expense)																(84.0		)
Net income (loss) from continuing operations																570.5
Net (income) loss attributable to noncontrolling interests																(5.2		)
Net income (loss) from continuing operations attributable to MCBC																$	565.3


(1)	Income from continuing operations for the year ended December 31, 2013, includes a $150.9 million non-cash impairment charge related to two indefinite-lived brand intangibles in our Europe segment. See Note 12, "Goodwill and Intangible Assets" for further discussion.


(2)	Represents inter-segment sales from the Europe segment to the MCI segment.



	Year ended December 29, 2012
	Canada		U.S.		Europe⁽¹⁾		MCI			Corporate			Eliminations⁽²⁾		Consolidated
	(In millions)
Net sales	$	2,036.8	$	—	$	1,747.5	$	147.0		$	1.2		(16.0	)	$	3,916.5
Interest expense	—		—		—		—			(196.3		)	—		(196.3		)
Interest income	—		—		5.7		—			5.6			—		11.3
Income (loss) from continuing operations before income taxes	$	423.0	$	510.9	$	136.2	$	(72.1	)	$	(405.9	)	—		$	592.1
Income tax benefit (expense)															(154.5		)
Net income (loss) from continuing operations															437.6
Net (income) loss attributable to noncontrolling interests															3.9
Net income (loss) from continuing operations attributable to MCBC															$	441.5


(1)	Includes results from our Central Europe operations from the Acquisition date of June 15, 2012.


(2)	Represents inter-segment sales from the Europe segment to the MCI segment.

Total assets by segment

The following table presents total assets by segment:



	As of
	December 31, 2014		December 31, 2013
	(In millions)
Canada	$	5,537.2	$	6,103.2
U.S.	2,388.6		2,506.5
Europe	5,773.3		6,547.7
MCI	75.2		83.3
Corporate	222.0		339.4
Consolidated total assets	$	13,996.3	$	15,580.1

Cash flows information by segment

The following table presents select cash flow information by segment:



	For the years ended
	December 31, 2014		December 31, 2013		December 29, 2012
			(In millions)
Depreciation and amortization⁽¹⁾:
Canada	$	117.6	$	122.8	$	128.2
Europe	184.1		185.0		131.6
MCI	2.7		2.9		3.4
Corporate	8.6		9.8		9.5
Consolidated depreciation and amortization	$	313.0	$	320.5	$	272.7
Capital expenditures⁽²⁾:
Canada	$	77.8	$	75.7	$	98.8
Europe	168.6		204.6		110.7
MCI	0.9		1.6		5.8
Corporate	12.2		12.0		7.0
Consolidated capital expenditures	$	259.5	$	293.9	$	222.3


(1)	Depreciation and amortization amounts do not reflect amortization of bond discounts, fees, or other debt-related items.


(2)	Capital expenditures increased in 2013 due to including the results of our Central Europe operations for a full year as a result of the Acquisition.

Net sales by geographic segment

The following table presents net sales by geography, based on the location of the customer:



	For the years ended
	December 31, 2014		December 31, 2013		December 29, 2012
	(In millions)
Net sales to unaffiliated customers:
Canada	$	1,699.9	$	1,839.8	$	1,930.7
United States and its territories	98.1		105.2		107.3
United Kingdom	1,391.5		1,261.6		1,218.4
Other foreign countries⁽¹⁾	956.8		999.5		660.1
Consolidated net sales	$	4,146.3	$	4,206.1	$	3,916.5


(1)	Reflects net sales from the individual countries within our Central European operations (included in our Europe segment), as well as our MCI segment, for which no individual country has total net sales exceeding 10% of the total consolidated net sales.

Properties by geographic segment

The following table presents net properties by geographic location:



	As of
	December 31, 2014		December 31, 2013
	(In millions)
Net properties:
Canada	$	736.1	$	814.8
United States and its territories	35.2		38.6
United Kingdom	465.7		503.4
Other foreign countries⁽¹⁾	561.0		613.3
Consolidated net properties	$	1,798.0	$	1,970.1


(1)	Reflects net properties within the individual countries included in our Central European operations (included in our Europe segment), as well as our MCI segment, for which no individual country has total net properties exceeding 10% of the total consolidated net properties.

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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