Segment Reporting

3 Months Ended

Mar. 31, 2015

Segment Reporting [Abstract]

Segment Reporting

Segment Reporting

Our reporting segments are based on the key geographic regions in which we operate, which are the basis on which our chief operating decision maker evaluates the performance of the business. Our reporting segments consist of Canada, the U.S., Europe and MCI. Corporate is not a segment and primarily includes interest and certain other general and administrative costs that are not allocated to any of the operating segments. No single customer accounted for more than 10% of our consolidated sales for the three months ended March 31, 2015, or March 31, 2014. Net sales represent sales to third-party external customers. Inter-segment sales revenues and income (loss) from continuing operations before income taxes, other than those to MillerCoors (see Note 4, "Investments" for additional detail), are insignificant and eliminated in consolidation.

The following table presents net sales by segment:

	Three Months Ended
	March 31, 2015			March 31, 2014
	(In millions)
Canada	$	313.5		$	347.1
Europe	357.9			437.6
MCI	29.1			32.2
Corporate	0.4			0.3
Eliminations(1)	(0.9		)	(1.2		)
Consolidated	$	700.0		$	816.0

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

The following table presents income (loss) from continuing operations before income taxes by segment:

	Three Months Ended
	March 31, 2015			March 31, 2014
	(In millions)
Canada(1)	$	30.9		$	88.3
U.S.	129.3			122.8
Europe(2)	(4.1		)	27.0
MCI	(5.4		)	(3.0		)
Corporate	(57.2		)	(65.5		)
Consolidated	$	93.5		$	169.6

(1) Results for the three months ended March 31, 2014, include $63.2 million of income related to the termination of our Modelo Molson Imports, L.P. ("MMI") joint venture in Canada. See Note 4, "Investments" for further discussion.

(2) Results for the three months ended March 31, 2015, include $11.8 million of accelerated depreciation expense related to our decision to close one of our U.K. brewing facilities in the second quarter of 2015. See Note 6, "Special Items" for further discussion. Additionally, results for the three months ended March 31, 2014, include a gain of $13.0 million related to the release of an indirect-tax reserve, inclusive of accrued interest. See Note 15, "Commitments and Contingencies" for further discussion.

The following table presents total assets by segment:

	As of
	March 31, 2015		December 31, 2014
	(In millions)
Canada	$	5,025.2	$	5,537.2
U.S.	2,499.1		2,388.6
Europe	5,028.7		5,773.3
MCI	68.9		75.2
Corporate	329.8		222.0
Consolidated	$	12,951.7	$	13,996.3