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Supplemental Guarantor Information
 9 Months Ended
Sep. 30, 2016
Supplemental Guarantor Information [Abstract]  
Supplemental Guarantor Information
Supplemental Guarantor Information
        For purposes of this Note 17, including the tables, "Parent Guarantor and Issuer" shall mean MCBC. "Subsidiary Guarantors" shall mean certain Canadian and U.S. subsidiaries reflecting the substantial operations of each of our Canada and U.S. segments.
SEC Registered Securities
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. Additionally, on July 7, 2016, MCBC issued the USD Notes and the EUR Notes, in a registered public offering, as detailed within Note 11, "Debt". "Parent Guarantor and Issuer" in the below tables is specifically referring to MCBC in its capacity as the issuer of these 2012 and 2016 issuances. These senior notes are guaranteed on a senior unsecured basis by the Subsidiary Guarantors, and, subsequent to the consummation of the Acquisition, which occurred on October 11, 2016, have been guaranteed by MillerCoors. Each of the Subsidiary Guarantors is 100% owned by the Parent Guarantor. The guarantees are full and unconditional and joint and several.
None of our other outstanding debt is publicly registered, and such other outstanding debt is guaranteed on a senior unsecured basis by the Parent Guarantor and Subsidiary Guarantors, and, upon consummation of the Acquisition, which occurred on October 11, 2016, have been guaranteed by MillerCoors. This includes the privately placed CAD Notes issued by Molson Coors International LP on July 7, 2016. These guarantees are full and unconditional and joint and several. See Note 11, "Debt" for details of all debt issued and outstanding as of September 30, 2016.
Presentation    
As a result of our adoption of the FASB's recently issued share-based compensation guidance in the third quarter of 2016, we recast our condensed consolidated statements of cash flows for all periods presented. The adoption of this guidance also impacted our previously reported quarterly results for fiscal years 2015 and 2016. For purposes of this supplemental guarantor information, the recast impacted the parent guarantor only. See Note 2, "New Accounting Pronouncements" for further details.

In conjunction with the issuance of the 2016 Notes, and as disclosed within Exhibit 99.1 of the Current Report on Form 8-K filed with the SEC on June 28, 2016, we released Molson Coors Brewing Company (U.K.) Limited, our primary U.K. operating entity, Golden Acquisition and Molson Coors Holdings Limited as subsidiary guarantors of our existing and future debt obligations, as evidenced by the supplemental indentures dated May 13, 2016. Accordingly, the 2015 financial information included below has been recast to reflect the release of these entities as subsidiary guarantors.
The following information sets forth the unaudited condensed consolidating statements of operations for the three and nine months ended September 30, 2016, and September 30, 2015, unaudited condensed consolidating balance sheets as of September 30, 2016, and December 31, 2015, and unaudited condensed consolidating statements of cash flows for the nine months ended September 30, 2016, and September 30, 2015. Investments in subsidiaries are accounted for under the equity method; accordingly, entries necessary to consolidate the Parent Guarantor 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 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 THREE MONTHS ENDED SEPTEMBER 30, 2016
(IN MILLIONS)
(UNAUDITED)

 
Parent
Guarantor and
Issuer
 
Subsidiary
Guarantors
 
Subsidiary
Non
Guarantors
 
Eliminations
 
Consolidated
Sales
$
7.0

 
$
560.2

 
$
810.1

 
$
(39.6
)
 
$
1,337.7

Excise taxes
—

 
(128.1
)
 
(262.0
)
 
—

 
(390.1
)
Net sales
7.0

 
432.1

 
548.1

 
(39.6
)
 
947.6

Cost of goods sold
—

 
(223.5
)
 
(350.2
)
 
32.4

 
(541.3
)
Gross profit
7.0

 
208.6

 
197.9

 
(7.2
)
 
406.3

Marketing, general and administrative expenses
(50.0
)
 
(97.9
)
 
(138.2
)
 
7.2

 
(278.9
)
Special items, net
—

 
(1.3
)
 
6.2

 
—

 
4.9

Equity income (loss) in subsidiaries
292.8

 
(19.4
)
 
92.1

 
(365.5
)
 
—

Equity income in MillerCoors
—

 
156.9

 
—

 
—

 
156.9

Operating income (loss)
249.8

 
246.9

 
158.0

 
(365.5
)
 
289.2

Interest income (expense), net
(54.0
)
 
67.2

 
(79.8
)
 
—

 
(66.6
)
Other income (expense), net
(21.2
)
 
12.6

 
9.4

 
—

 
0.8

Income (loss) from continuing operations before income taxes
174.6

 
326.7

 
87.6

 
(365.5
)
 
223.4

Income tax benefit (expense)
27.9

 
(65.3
)
 
17.8

 
—

 
(19.6
)
Net income (loss) from continuing operations
202.5

 
261.4

 
105.4

 
(365.5
)
 
203.8

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

 
—

 
—

 
—

 
—

Net income (loss) including noncontrolling interests
202.5

 
261.4

 
105.4

 
(365.5
)
 
203.8

Net (income) loss attributable to noncontrolling interests
—

 
—

 
(1.3
)
 
—

 
(1.3
)
Net income (loss) attributable to MCBC
$
202.5

 
$
261.4

 
$
104.1

 
$
(365.5
)
 
$
202.5

Comprehensive income (loss) attributable to MCBC
$
143.1

 
$
220.0

 
$
86.3

 
$
(306.3
)
 
$
143.1


MOLSON COORS BREWING COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2015
(IN MILLIONS)
(UNAUDITED)
AS RECAST FOR CHANGE IN GUARANTORS
 
Parent
Guarantor and
Issuer
 
Subsidiary
Guarantors
 
Subsidiary
Non
Guarantors
 
Eliminations
 
Consolidated
Sales
$
4.9

 
$
573.6

 
$
911.1

 
$
(35.3
)
 
$
1,454.3

Excise taxes
—

 
(132.0
)
 
(304.9
)
 
—

 
(436.9
)
Net sales
4.9

 
441.6

 
606.2

 
(35.3
)
 
1,017.4

Cost of goods sold
—

 
(227.4
)
 
(388.0
)
 
29.5

 
(585.9
)
Gross profit
4.9

 
214.2

 
218.2

 
(5.8
)
 
431.5

Marketing, general and administrative expenses
(28.9
)
 
(94.3
)
 
(147.8
)
 
5.8

 
(265.2
)
Special items, net
—

 
(15.6
)
 
(277.9
)
 
—

 
(293.5
)
Equity income (loss) in subsidiaries
96.6

 
(280.7
)
 
59.7

 
124.4

 
—

Equity income in MillerCoors
—

 
135.3

 
—

 
—

 
135.3

Operating income (loss)
72.6

 
(41.1
)
 
(147.8
)
 
124.4

 
8.1

Interest income (expense), net
(16.1
)
 
70.5

 
(81.2
)
 
—

 
(26.8
)
Other income (expense), net
(0.1
)
 
3.4

 
0.4

 
—

 
3.7

Income (loss) from continuing operations before income taxes
56.4

 
32.8

 
(228.6
)
 
124.4

 
(15.0
)
Income tax benefit (expense)
(39.8
)
 
63.2

 
3.9

 
—

 
27.3

Net income (loss) from continuing operations
16.6

 
96.0

 
(224.7
)
 
124.4

 
12.3

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

 
—

 
2.9

 
—

 
2.9

Net income (loss) including noncontrolling interests
16.6

 
96.0

 
(221.8
)
 
124.4

 
15.2

Net (income) loss attributable to noncontrolling interests
—

 
—

 
1.4

 
—

 
1.4

Net income (loss) attributable to MCBC
$
16.6

 
$
96.0

 
$
(220.4
)
 
$
124.4

 
$
16.6

Comprehensive income (loss) attributable to MCBC
$
(239.4
)
 
$
(133.7
)
 
$
(286.3
)
 
$
420.0

 
$
(239.4
)


MOLSON COORS BREWING COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2016
(IN MILLIONS)
(UNAUDITED)

 
Parent
Guarantor and
Issuer
 
Subsidiary
Guarantors
 
Subsidiary
Non
Guarantors
 
Eliminations
 
Consolidated
Sales
$
7.0

 
$
560.2

 
$
810.1

 
$
(39.6
)
 
$
1,337.7

Excise taxes
—

 
(128.1
)
 
(262.0
)
 
—

 
(390.1
)
Net sales
7.0

 
432.1

 
548.1

 
(39.6
)
 
947.6

Cost of goods sold
—

 
(223.5
)
 
(350.2
)
 
32.4

 
(541.3
)
Gross profit
7.0

 
208.6

 
197.9

 
(7.2
)
 
406.3

Marketing, general and administrative expenses
(50.0
)
 
(97.9
)
 
(138.2
)
 
7.2

 
(278.9
)
Special items, net
—

 
(1.3
)
 
6.2

 
—

 
4.9

Equity income (loss) in subsidiaries
292.8

 
(19.4
)
 
92.1

 
(365.5
)
 
—

Equity income in MillerCoors
—

 
156.9

 
—

 
—

 
156.9

Operating income (loss)
249.8

 
246.9

 
158.0

 
(365.5
)
 
289.2

Interest income (expense), net
(54.0
)
 
67.2

 
(79.8
)
 
—

 
(66.6
)
Other income (expense), net
(21.2
)
 
12.6

 
9.4

 
—

 
0.8

Income (loss) from continuing operations before income taxes
174.6

 
326.7

 
87.6

 
(365.5
)
 
223.4

Income tax benefit (expense)
27.9

 
(65.3
)
 
17.8

 
—

 
(19.6
)
Net income (loss) from continuing operations
202.5

 
261.4

 
105.4

 
(365.5
)
 
203.8

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

 
—

 
—

 
—

 
—

Net income (loss) including noncontrolling interests
202.5

 
261.4

 
105.4

 
(365.5
)
 
203.8

Net (income) loss attributable to noncontrolling interests
—

 
—

 
(1.3
)
 
—

 
(1.3
)
Net income (loss) attributable to MCBC
$
202.5

 
$
261.4

 
$
104.1

 
$
(365.5
)
 
$
202.5

Comprehensive income (loss) attributable to MCBC
$
143.1

 
$
220.0

 
$
86.3

 
$
(306.3
)
 
$
143.1


MOLSON COORS BREWING COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2015
(IN MILLIONS)
(UNAUDITED)
AS RECAST FOR CHANGE IN GUARANTORS
 
Parent
Guarantor and
Issuer
 
Subsidiary
Guarantors
 
Subsidiary
Non
Guarantors
 
Eliminations
 
Consolidated
Sales
$
4.9

 
$
573.6

 
$
911.1

 
$
(35.3
)
 
$
1,454.3

Excise taxes
—

 
(132.0
)
 
(304.9
)
 
—

 
(436.9
)
Net sales
4.9

 
441.6

 
606.2

 
(35.3
)
 
1,017.4

Cost of goods sold
—

 
(227.4
)
 
(388.0
)
 
29.5

 
(585.9
)
Gross profit
4.9

 
214.2

 
218.2

 
(5.8
)
 
431.5

Marketing, general and administrative expenses
(28.9
)
 
(94.3
)
 
(147.8
)
 
5.8

 
(265.2
)
Special items, net
—

 
(15.6
)
 
(277.9
)
 
—

 
(293.5
)
Equity income (loss) in subsidiaries
96.6

 
(280.7
)
 
59.7

 
124.4

 
—

Equity income in MillerCoors
—

 
135.3

 
—

 
—

 
135.3

Operating income (loss)
72.6

 
(41.1
)
 
(147.8
)
 
124.4

 
8.1

Interest income (expense), net
(16.1
)
 
70.5

 
(81.2
)
 
—

 
(26.8
)
Other income (expense), net
(0.1
)
 
3.4

 
0.4

 
—

 
3.7

Income (loss) from continuing operations before income taxes
56.4

 
32.8

 
(228.6
)
 
124.4

 
(15.0
)
Income tax benefit (expense)
(39.8
)
 
63.2

 
3.9

 
—

 
27.3

Net income (loss) from continuing operations
16.6

 
96.0

 
(224.7
)
 
124.4

 
12.3

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

 
—

 
2.9

 
—

 
2.9

Net income (loss) including noncontrolling interests
16.6

 
96.0

 
(221.8
)
 
124.4

 
15.2

Net (income) loss attributable to noncontrolling interests
—

 
—

 
1.4

 
—

 
1.4

Net income (loss) attributable to MCBC
$
16.6

 
$
96.0

 
$
(220.4
)
 
$
124.4

 
$
16.6

Comprehensive income (loss) attributable to MCBC
$
(239.4
)
 
$
(133.7
)
 
$
(286.3
)
 
$
420.0

 
$
(239.4
)


MOLSON COORS BREWING COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2016
(IN MILLIONS)
(UNAUDITED)

 
Parent
Guarantor and
Issuer
 
Subsidiary
Guarantors
 
Subsidiary
Non
Guarantors
 
Eliminations
 
Consolidated
Sales
$
20.5

 
$
1,526.2

 
$
2,255.5

 
$
(106.7
)
 
$
3,695.5

Excise taxes
—

 
(343.9
)
 
(760.6
)
 
—

 
(1,104.5
)
Net sales
20.5

 
1,182.3

 
1,494.9

 
(106.7
)
 
2,591.0

Cost of goods sold
—

 
(630.1
)
 
(973.0
)
 
85.6

 
(1,517.5
)
Gross profit
20.5

 
552.2

 
521.9

 
(21.1
)
 
1,073.5

Marketing, general and administrative expenses
(148.1
)
 
(281.7
)
 
(434.7
)
 
21.1

 
(843.4
)
Special items, net
—

 
106.6

 
(27.6
)
 
—

 
79.0

Equity income (loss) in subsidiaries
737.1

 
(223.7
)
 
329.3

 
(842.7
)
 
—

Equity income in MillerCoors
—

 
491.2

 
—

 
—

 
491.2

Operating income (loss)
609.5

 
644.6

 
388.9

 
(842.7
)
 
800.3

Interest income (expense), net
(126.7
)
 
208.0

 
(235.7
)
 
—

 
(154.4
)
Other income (expense), net
(61.5
)
 
8.5

 
8.1

 
—

 
(44.9
)
Income (loss) from continuing operations before income taxes
421.3

 
861.1

 
161.3

 
(842.7
)
 
601.0

Income tax benefit (expense)
116.2

 
(238.6
)
 
64.9

 
—

 
(57.5
)
Net income (loss) from continuing operations
537.5

 
622.5

 
226.2

 
(842.7
)
 
543.5

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

 
—

 
(2.3
)
 
—

 
(2.3
)
Net income (loss) including noncontrolling interests
537.5

 
622.5

 
223.9

 
(842.7
)
 
541.2

Net (income) loss attributable to noncontrolling interests
—

 
—

 
(3.7
)
 
—

 
(3.7
)
Net income (loss) attributable to MCBC
$
537.5

 
$
622.5

 
$
220.2

 
$
(842.7
)
 
$
537.5

Comprehensive income attributable to MCBC
$
599.1

 
$
675.2

 
$
85.3

 
$
(760.5
)
 
$
599.1


MOLSON COORS BREWING COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2015
(IN MILLIONS)
(UNAUDITED)
AS RECAST FOR CHANGE IN GUARANTORS
 
Parent
Guarantor and
Issuer
 
Subsidiary
Guarantors
 
Subsidiary
Non
Guarantors
 
Eliminations
 
Consolidated
Sales
$
15.9

 
$
1,585.8

 
$
2,359.0

 
$
(70.2
)
 
$
3,890.5

Excise taxes
—

 
(363.0
)
 
(804.4
)
 
—

 
(1,167.4
)
Net sales
15.9

 
1,222.8

 
1,554.6

 
(70.2
)
 
2,723.1

Cost of goods sold
—

 
(680.3
)
 
(992.4
)
 
52.1

 
(1,620.6
)
Gross profit
15.9

 
542.5

 
562.2

 
(18.1
)
 
1,102.5

Marketing, general and administrative expenses
(87.3
)
 
(281.4
)
 
(438.5
)
 
18.1

 
(789.1
)
Special items, net
—

 
(23.8
)
 
(312.0
)
 
—

 
(335.8
)
Equity income (loss) in subsidiaries
384.8

 
(446.1
)
 
248.9

 
(187.6
)
 
—

Equity income in MillerCoors
—

 
470.1

 
—

 
—

 
470.1

Operating income (loss)
313.4

 
261.3

 
60.6

 
(187.6
)
 
447.7

Interest income (expense), net
(49.2
)
 
218.5

 
(255.9
)
 
—

 
(86.6
)
Other income (expense), net
(1.1
)
 
4.4

 
4.1

 
—

 
7.4

Income (loss) from continuing operations before income taxes
263.1

 
484.2

 
(191.2
)
 
(187.6
)
 
368.5

Income tax benefit (expense)
63.6

 
(101.1
)
 
(6.4
)
 
—

 
(43.9
)
Net income (loss) from continuing operations
326.7

 
383.1

 
(197.6
)
 
(187.6
)
 
324.6

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

 
—

 
4.5

 
—

 
4.5

Net income (loss) including noncontrolling interests
326.7

 
383.1

 
(193.1
)
 
(187.6
)
 
329.1

Net (income) loss attributable to noncontrolling interests
—

 
—

 
(2.4
)
 
—

 
(2.4
)
Net income (loss) attributable to MCBC
$
326.7

 
$
383.1

 
$
(195.5
)
 
$
(187.6
)
 
$
326.7

Comprehensive income attributable to MCBC
$
(332.1
)
 
$
(221.6
)
 
$
(337.7
)
 
$
559.3

 
$
(332.1
)
MOLSON COORS BREWING COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING BALANCE SHEET
AS OF SEPTEMBER 30, 2016
(IN MILLIONS)
(UNAUDITED)
 
Parent
Guarantor and
Issuer
 
Subsidiary
Guarantors
 
Subsidiary
Non
Guarantors
 
Eliminations
 
Consolidated
Assets
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
7,479.6

 
$
2,246.5

 
$
255.4

 
$
—

 
$
9,981.5

Accounts receivable, net
—

 
125.9

 
348.5

 
—

 
474.4

Other receivables, net
93.4

 
25.6

 
45.4

 
—

 
164.4

Total inventories
—

 
95.9

 
122.4

 
—

 
218.3

Other current assets, net
3.5

 
42.6

 
63.0

 
—

 
109.1

Intercompany accounts receivable
—

 
1,254.0

 
26.2

 
(1,280.2
)
 
—

Total current assets
7,576.5

 
3,790.5

 
860.9

 
(1,280.2
)
 
10,947.7

Properties, net
24.3

 
566.7

 
936.1

 
—

 
1,527.1

Goodwill
—

 
237.6

 
1,687.6

 
—

 
1,925.2

Other intangibles, net
—

 
3,104.8

 
1,775.6

 
—

 
4,880.4

Investment in MillerCoors
—

 
2,643.6

 
—

 
—

 
2,643.6

Net investment in and advances to subsidiaries
11,486.4

 
2,913.9

 
5,291.3

 
(19,691.6
)
 
—

Deferred tax assets
35.1

 
3.1

 
0.1

 
(11.6
)
 
26.7

Other assets, net
11.6

 
130.6

 
103.9

 
—

 
246.1

Total assets
$
19,133.9

 
$
13,390.8

 
$
10,655.5

 
$
(20,983.4
)
 
$
22,196.8

Liabilities and equity
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
Accounts payable and other current liabilities
$
131.1

 
$
342.7

 
$
800.1

 
$
—

 
$
1,273.9

Current portion of long-term debt and short-term borrowings
299.9

 
—

 
27.0

 
—

 
326.9

Discontinued operations
—

 
—

 
4.9

 
—

 
4.9

Intercompany accounts payable
1,028.2

 
93.9

 
158.1

 
(1,280.2
)
 
—

Total current liabilities
1,459.2

 
436.6

 
990.1

 
(1,280.2
)
 
1,605.7

Long-term debt
7,741.0

 
1,819.7

 
—

 
—

 
9,560.7

Pension and postretirement benefits
3.6

 
188.4

 
14.1

 
—

 
206.1

Deferred tax liabilities
—

 
221.0

 
588.7

 
(11.6
)
 
798.1

Other liabilities
11.7

 
23.8

 
37.7

 
—

 
73.2

Discontinued operations
—

 
—

 
12.6

 
—

 
12.6

Intercompany notes payable
—

 
1,347.6

 
6,559.2

 
(7,906.8
)
 
—

Total liabilities
9,215.5

 
4,037.1

 
8,202.4

 
(9,198.6
)
 
12,256.4

MCBC stockholders' equity
9,919.5

 
15,911.8

 
3,779.8

 
(19,691.6
)
 
9,919.5

Intercompany notes receivable
(1.1
)
 
(6,558.1
)
 
(1,347.6
)
 
7,906.8

 
—

Total stockholders' equity
9,918.4

 
9,353.7

 
2,432.2

 
(11,784.8
)
 
9,919.5

Noncontrolling interests
—

 
—

 
20.9

 
—

 
20.9

Total equity
9,918.4

 
9,353.7

 
2,453.1

 
(11,784.8
)
 
9,940.4

Total liabilities and equity
$
19,133.9

 
$
13,390.8

 
$
10,655.5

 
$
(20,983.4
)
 
$
22,196.8


MOLSON COORS BREWING COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING BALANCE SHEET
AS OF DECEMBER 31, 2015
(IN MILLIONS)
(UNAUDITED)
AS RECAST FOR CHANGE IN GUARANTORS
 
Parent
Guarantor and
Issuer
 
Subsidiary
Guarantors
 
Subsidiary
Non
Guarantors
 
Eliminations
 
Consolidated
Assets
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
146.4

 
$
106.2

 
$
178.3

 
$
—

 
$
430.9

Accounts receivable, net
—

 
120.4

 
304.3

 
—

 
424.7

Other receivables, net
8.7

 
33.5

 
59.0

 
—

 
101.2

Total inventories
—

 
61.6

 
117.7

 
—

 
179.3

Other current assets, net
45.6

 
22.4

 
54.7

 
—

 
122.7

Intercompany accounts receivable
—

 
3,796.7

 
5.5

 
(3,802.2
)
 
—

Total current assets
200.7

 
4,140.8

 
719.5

 
(3,802.2
)
 
1,258.8

Properties, net
20.4

 
578.7

 
991.7

 
—

 
1,590.8

Goodwill
—

 
225.3

 
1,758.0

 
—

 
1,983.3

Other intangibles, net
—

 
2,954.2

 
1,791.5

 
—

 
4,745.7

Investment in MillerCoors
—

 
2,441.0

 
—

 
—

 
2,441.0

Net investment in and advances to subsidiaries
12,394.3

 
3,459.1

 
4,765.1

 
(20,618.5
)
 
—

Deferred tax assets
37.7

 
—

 
0.1

 
(17.6
)
 
20.2

Other assets, net
14.0

 
115.4

 
107.1

 
—

 
236.5

Total assets
$
12,667.1

 
$
13,914.5

 
$
10,133.0

 
$
(24,438.3
)
 
$
12,276.3

Liabilities and equity
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
Accounts payable and other current liabilities
$
72.7

 
$
332.0

 
$
779.7

 
$
—

 
$
1,184.4

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

 
—

 
28.7

 
—

 
28.7

Discontinued operations
—

 
—

 
4.1

 
—

 
4.1

Intercompany accounts payable
3,652.6

 
70.6

 
79.0

 
(3,802.2
)
 
—

Total current liabilities
3,725.3

 
402.6

 
891.5

 
(3,802.2
)
 
1,217.2

Long-term debt
1,902.1

 
1,006.6

 
—

 
—

 
2,908.7

Pension and postretirement benefits
3.3

 
184.3

 
14.3

 
—

 
201.9

Deferred tax liabilities
—

 
215.7

 
601.7

 
(17.6
)
 
799.8

Other liabilities
6.5

 
25.1

 
43.7

 
—

 
75.3

Discontinued operations
—

 
—

 
10.3

 
—

 
10.3

Intercompany notes payable
—

 
0.5

 
4,758.8

 
(4,759.3
)
 
—

Total liabilities
5,637.2

 
1,834.8

 
6,320.3

 
(8,579.1
)
 
5,213.2

MCBC stockholders' equity
7,031.0

 
16,837.4

 
3,793.1

 
(20,618.5
)
 
7,043.0

Intercompany notes receivable
(1.1
)
 
(4,757.7
)
 
(0.5
)
 
4,759.3

 
—

Total stockholders' equity
7,029.9

 
12,079.7

 
3,792.6

 
(15,859.2
)
 
7,043.0

Noncontrolling interests
—

 
—

 
20.1

 
—

 
20.1

Total equity
7,029.9

 
12,079.7

 
3,812.7

 
(15,859.2
)
 
7,063.1

Total liabilities and equity
$
12,667.1

 
$
13,914.5

 
$
10,133.0

 
$
(24,438.3
)
 
$
12,276.3

MOLSON COORS BREWING COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2016
(IN MILLIONS)
(UNAUDITED)

 
Parent
Guarantor and
Issuer
 
Subsidiary
Guarantors
 
Subsidiary
Non
Guarantors
 
Eliminations
 
Consolidated
Net cash provided by (used in) operating activities
$
728.4

 
$
(29.2
)
 
$
(28.7
)
 
$
(40.3
)
 
$
630.2

CASH FLOWS FROM INVESTING ACTIVITIES:
 
 
 
 
 
 
 
 
 
Additions to properties
(12.0
)
 
(60.6
)
 
(116.3
)
 
—

 
(188.9
)
Proceeds from sales of properties and other assets
—

 
142.1

 
13.3

 
—

 
155.4

Proceeds from sale of business
—

 
—

 
6.6

 
—

 
6.6

Investment in MillerCoors
—

 
(1,253.7
)
 
—

 
—

 
(1,253.7
)
Return of capital from MillerCoors
—

 
1,089.7

 
—

 
—

 
1,089.7

Other
1.5

 
2.3

 
(1.8
)
 
—

 
2.0

Net intercompany investing activity
(1,771.2
)
 
(1,590.9
)
 
(1,348.6
)
 
4,710.7

 
—

Net cash provided by (used in) investing activities
(1,781.7
)
 
(1,671.1
)
 
(1,446.8
)
 
4,710.7

 
(188.9
)
CASH FLOWS FROM FINANCING ACTIVITIES:
 
 
 
 
 
 
 
 
 
Proceeds from issuance of common stock, net
2,525.6

 
—

 
—

 
—

 
2,525.6

Exercise of stock options under equity compensation plans
8.2

 
—

 
—

 
—

 
8.2

Dividends paid
(241.8
)
 
(40.3
)
 
(22.8
)
 
40.3

 
(264.6
)
Debt issuance costs
(55.7
)
 
(4.5
)
 
—

 
—

 
(60.2
)
Payments on debt and borrowings
—

 
—

 
(23.3
)
 
—

 
(23.3
)
Proceeds on debt and borrowings
6,167.6

 
768.8

 
35.5

 
—

 
6,971.9

Net proceeds from (payments on) revolving credit facilities and commercial paper
—

 
—

 
1.6

 
—

 
1.6

Change in overdraft balances and other
(17.4
)
 
—

 
(21.7
)
 
—

 
(39.1
)
Net intercompany financing activity
—

 
3,119.8

 
1,590.9

 
(4,710.7
)
 
—

Net cash provided by (used in) financing activities
8,386.5

 
3,843.8

 
1,560.2

 
(4,670.4
)
 
9,120.1

CASH AND CASH EQUIVALENTS:
 
 
 
 
 
 
 
 
 
Net increase (decrease) in cash and cash equivalents
7,333.2

 
2,143.5

 
84.7

 
—

 
9,561.4

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

 
(3.2
)
 
(7.6
)
 
—

 
(10.8
)
Balance at beginning of year
146.4

 
106.2

 
178.3

 
—

 
430.9

Balance at end of period
$
7,479.6

 
$
2,246.5

 
$
255.4

 
$
—

 
$
9,981.5


MOLSON COORS BREWING COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2015
(IN MILLIONS)
(UNAUDITED)
AS RECAST FOR CHANGE IN GUARANTORS
 
Parent
Guarantor and
Issuer
 
Subsidiary
Guarantors
 
Subsidiary
Non
Guarantors
 
Eliminations
 
Consolidated
Net cash provided by (used in) operating activities
$
341.5

 
$
331.5

 
$
73.5

 
$
(267.5
)
 
$
479.0

CASH FLOWS FROM INVESTING ACTIVITIES:
 
 
 
 
 
 
 
 
 
Additions to properties
(8.7
)
 
(57.7
)
 
(141.9
)
 
—

 
(208.3
)
Proceeds from sales of properties and other assets
—

 
0.5

 
8.3

 
—

 
8.8

Acquisition of businesses, net of cash acquired
—

 
—

 
(91.2
)
 
—

 
(91.2
)
Proceeds from sale of business
—

 
—

 
8.7

 
—

 
8.7

Investment in MillerCoors
—

 
(1,144.5
)
 
—

 
—

 
(1,144.5
)
Return of capital from MillerCoors
—

 
1,088.2

 
—

 
—

 
1,088.2

Other
—

 
(3.3
)
 
(3.8
)
 
—

 
(7.1
)
Net intercompany investing activity
(56.3
)
 
(186.5
)
 
(167.2
)
 
410.0

 
—

Net cash provided by (used in) investing activities
(65.0
)
 
(303.3
)
 
(387.1
)
 
410.0

 
(345.4
)
CASH FLOWS FROM FINANCING ACTIVITIES:
 

 
 

 
 

 
 

 
 

Exercise of stock options under equity compensation plans
31.2

 
—

 
—

 
—

 
31.2

Dividends paid
(203.8
)
 
(267.5
)
 
(24.3
)
 
267.5

 
(228.1
)
Payments for purchase of treasury stock
(100.1
)
 
—

 
—

 
—

 
(100.1
)
Proceeds on debt and borrowings
—

 
679.9

 
33.1

 
—

 
713.0

Payments on debt and borrowings
—

 
(676.4
)
 
(19.7
)
 
—

 
(696.1
)
Net proceeds from (payments on) revolving credit facilities and commercial paper
10.0

 
—

 
7.1

 
—

 
17.1

Change in overdraft balances and other
(9.6
)
 
(2.4
)
 
(52.6
)
 
—

 
(64.6
)
Net intercompany financing activity
—

 
223.5

 
186.5

 
(410.0
)
 
—

Net cash provided by (used in) financing activities
(272.3
)
 
(42.9
)
 
130.1

 
(142.5
)
 
(327.6
)
CASH AND CASH EQUIVALENTS:
 
 
 
 
 
 
 
 
 
Net increase (decrease) in cash and cash equivalents
4.2

 
(14.7
)
 
(183.5
)
 
—

 
(194.0
)
Effect of foreign exchange rate changes on cash and cash equivalents
—

 
(20.0
)
 
(17.0
)
 
—

 
(37.0
)
Balance at beginning of year
40.9

 
173.2

 
410.5

 
—

 
624.6

Balance at end of period
$
45.1

 
$
138.5

 
$
210.0

 
$
—

 
$
393.6