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Supplemental Guarantor Information
 6 Months Ended
Jun. 30, 2017
Supplemental Guarantor Information [Abstract]  
Supplemental Guarantor Information
Supplemental Guarantor Information
For purposes of this Note 17, including the tables, "Parent 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 (subsequently repaid in the second quarter of 2017, see Note 11, "Debt" for further details), $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 $500 million 1.45% senior notes due 2019, $1.0 billion 2.10% senior notes due 2021, $2.0 billion 3.0% senior notes due 2026, $1.8 billion 4.2% senior notes due 2046 and EUR $800.0 million 1.25% senior notes due 2024, in a registered public offering. "Parent 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. Each of the Subsidiary Guarantors is 100% owned by the Parent Issuer. The guarantees are full and unconditional and joint and several.
None of our other outstanding debt is registered with the SEC, and such other outstanding debt is guaranteed on a senior unsecured basis by the Parent and/or Subsidiary Guarantors. These guarantees are full and unconditional and joint and several. See Note 11, "Debt" for details of all debt issued and outstanding as of June 30, 2017.
Presentation    
The following information sets forth the unaudited condensed consolidating statements of operations for the three and six months ended June 30, 2017, and June 30, 2016, unaudited condensed consolidating balance sheets as of June 30, 2017, and December 31, 2016, and unaudited condensed consolidating statements of cash flows for the six months ended June 30, 2017, and June 30, 2016. Investments in subsidiaries are accounted for under the equity method; accordingly, entries necessary to consolidate the Parent Issuer 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 JUNE 30, 2017
(IN MILLIONS)
(UNAUDITED)


 
Parent
Issuer
 
Subsidiary
Guarantors
 
Subsidiary
Non
Guarantors
 
Eliminations
 
Consolidated
Sales
$
8.3

 
$
2,954.1

 
$
973.2

 
$
(142.5
)
 
$
3,793.1

Excise taxes
—

 
(411.5
)
 
(290.3
)
 
—

 
(701.8
)
Net sales
8.3

 
2,542.6

 
682.9

 
(142.5
)
 
3,091.3

Cost of goods sold
(1.0
)
 
(1,423.9
)
 
(461.8
)
 
130.6

 
(1,756.1
)
Gross profit
7.3

 
1,118.7

 
221.1

 
(11.9
)
 
1,335.2

Marketing, general and administrative expenses
(68.2
)
 
(558.7
)
 
(166.2
)
 
11.9

 
(781.2
)
Special items, net
(0.3
)
 
(13.7
)
 
(2.5
)
 
—

 
(16.5
)
Equity income (loss) in subsidiaries
434.0

 
(138.0
)
 
61.3

 
(357.3
)
 
—

Operating income (loss)
372.8

 
408.3

 
113.7

 
(357.3
)
 
537.5

Interest income (expense), net
(74.4
)
 
60.3

 
(75.1
)
 
—

 
(89.2
)
Other income (expense), net
—

 
94.9

 
(93.4
)
 
—

 
1.5

Income (loss) from continuing operations before income taxes
298.4

 
563.5

 
(54.8
)
 
(357.3
)
 
449.8

Income tax benefit (expense)
24.9

 
(129.7
)
 
(18.2
)
 
—

 
(123.0
)
Net income (loss) from continuing operations
323.3

 
433.8

 
(73.0
)
 
(357.3
)
 
326.8

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

 
—

 
1.6

 
—

 
1.6

Net income (loss) including noncontrolling interests
323.3

 
433.8

 
(71.4
)
 
(357.3
)
 
328.4

Net (income) loss attributable to noncontrolling interests
—

 
—

 
(5.1
)
 
—

 
(5.1
)
Net income (loss) attributable to MCBC
$
323.3

 
$
433.8

 
$
(76.5
)
 
$
(357.3
)
 
$
323.3

Comprehensive income (loss) attributable to MCBC
$
571.2

 
$
725.7

 
$
87.0

 
$
(812.7
)
 
$
571.2


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

 
Parent
Issuer
 
Subsidiary
Guarantors
 
Subsidiary
Non
Guarantors
 
Eliminations
 
Consolidated
Sales
$
6.9

 
$
590.1

 
$
850.1

 
$
(40.1
)
 
$
1,407.0

Excise taxes
—

 
(131.8
)
 
(289.0
)
 
—

 
(420.8
)
Net sales
6.9

 
458.3

 
561.1

 
(40.1
)
 
986.2

Cost of goods sold
—

 
(242.9
)
 
(352.4
)
 
33.1

 
(562.2
)
Gross profit
6.9

 
215.4

 
208.7

 
(7.0
)
 
424.0

Marketing, general and administrative expenses
(51.1
)
 
(104.0
)
 
(165.5
)
 
7.0

 
(313.6
)
Special items, net
—

 
(1.4
)
 
(33.1
)
 
—

 
(34.5
)
Equity income (loss) in subsidiaries
228.5

 
(90.9
)
 
87.9

 
(225.5
)
 
—

Equity income in MillerCoors
—

 
191.9

 
—

 
—

 
191.9

Operating income (loss)
184.3

 
211.0

 
98.0

 
(225.5
)
 
267.8

Interest income (expense), net
(32.8
)
 
71.6

 
(79.3
)
 
—

 
(40.5
)
Other income (expense), net
(22.0
)
 
(8.7
)
 
0.3

 
—

 
(30.4
)
Income (loss) from continuing operations before income taxes
129.5

 
273.9

 
19.0

 
(225.5
)
 
196.9

Income tax benefit (expense)
42.8

 
(87.9
)
 
23.9

 
—

 
(21.2
)
Net income (loss) from continuing operations
172.3

 
186.0

 
42.9

 
(225.5
)
 
175.7

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

 
—

 
(1.8
)
 
—

 
(1.8
)
Net income (loss) including noncontrolling interests
172.3

 
186.0

 
41.1

 
(225.5
)
 
173.9

Net (income) loss attributable to noncontrolling interests
—

 
—

 
(1.6
)
 
—

 
(1.6
)
Net income (loss) attributable to MCBC
$
172.3

 
$
186.0

 
$
39.5

 
$
(225.5
)
 
$
172.3

Comprehensive income (loss) attributable to MCBC
$
36.3

 
$
46.4

 
$
(100.4
)
 
$
54.0

 
$
36.3




MOLSON COORS BREWING COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
FOR THE SIX MONTHS ENDED JUNE 30, 2017
(IN MILLIONS)
(UNAUDITED)

 
Parent
Issuer
 
Subsidiary
Guarantors
 
Subsidiary
Non
Guarantors
 
Eliminations
 
Consolidated
Sales
$
15.3

 
$
5,330.7

 
$
1,623.2

 
$
(262.3
)
 
$
6,706.9

Excise taxes
—

 
(737.2
)
 
(429.7
)
 
—

 
(1,166.9
)
Net sales
15.3

 
4,593.5

 
1,193.5

 
(262.3
)
 
5,540.0

Cost of goods sold
(1.0
)
 
(2,566.9
)
 
(801.2
)
 
240.1

 
(3,129.0
)
Gross profit
14.3

 
2,026.6

 
392.3

 
(22.2
)
 
2,411.0

Marketing, general and administrative expenses
(135.9
)
 
(1,056.3
)
 
(314.0
)
 
22.2

 
(1,484.0
)
Special items, net
(0.8
)
 
(14.4
)
 
(5.1
)
 
—

 
(20.3
)
Equity income (loss) in subsidiaries
772.8

 
(216.1
)
 
80.3

 
(637.0
)
 
—

Operating income (loss)
650.4

 
739.8

 
153.5

 
(637.0
)
 
906.7

Interest income (expense), net
(155.5
)
 
119.2

 
(149.5
)
 
—

 
(185.8
)
Other income (expense), net
(8.2
)
 
111.6

 
(101.5
)
 
—

 
1.9

Income (loss) from continuing operations before income taxes
486.7

 
970.6

 
(97.5
)
 
(637.0
)
 
722.8

Income tax benefit (expense)
37.9

 
(197.8
)
 
(27.7
)
 
—

 
(187.6
)
Net income (loss) from continuing operations
524.6

 
772.8

 
(125.2
)
 
(637.0
)
 
535.2

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

 
—

 
1.0

 
—

 
1.0

Net income (loss) including noncontrolling interests
524.6

 
772.8

 
(124.2
)
 
(637.0
)
 
536.2

Net (income) loss attributable to noncontrolling interests
—

 
—

 
(11.6
)
 
—

 
(11.6
)
Net income (loss) attributable to MCBC
$
524.6

 
$
772.8

 
$
(135.8
)
 
$
(637.0
)
 
$
524.6

Comprehensive income attributable to MCBC
$
847.8

 
$
1,138.6

 
$
73.2

 
$
(1,211.8
)
 
$
847.8



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

 
Parent
Issuer
 
Subsidiary
Guarantors
 
Subsidiary
Non
Guarantors
 
Eliminations
 
Consolidated
Sales
$
13.5

 
$
966.0

 
$
1,445.4

 
$
(67.1
)
 
$
2,357.8

Excise taxes
—

 
(215.8
)
 
(498.6
)
 
—

 
(714.4
)
Net sales
13.5

 
750.2

 
946.8

 
(67.1
)
 
1,643.4

Cost of goods sold
—

 
(406.6
)
 
(622.8
)
 
53.2

 
(976.2
)
Gross profit
13.5

 
343.6

 
324.0

 
(13.9
)
 
667.2

Marketing, general and administrative expenses
(98.1
)
 
(183.8
)
 
(296.5
)
 
13.9

 
(564.5
)
Special items, net
—

 
107.9

 
(33.8
)
 
—

 
74.1

Equity income (loss) in subsidiaries
444.3

 
(204.3
)
 
237.2

 
(477.2
)
 
—

Equity income in MillerCoors
—

 
334.3

 
—

 
—

 
334.3

Operating income (loss)
359.7

 
397.7

 
230.9

 
(477.2
)
 
511.1

Interest income (expense), net
(72.7
)
 
140.8

 
(155.9
)
 
—

 
(87.8
)
Other income (expense), net
(40.3
)
 
(4.1
)
 
(1.3
)
 
—

 
(45.7
)
Income (loss) from continuing operations before income taxes
246.7

 
534.4

 
73.7

 
(477.2
)
 
377.6

Income tax benefit (expense)
88.3

 
(173.3
)
 
47.1

 
—

 
(37.9
)
Net income (loss) from continuing operations
335.0

 
361.1

 
120.8

 
(477.2
)
 
339.7

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

 
—

 
(2.3
)
 
—

 
(2.3
)
Net income (loss) including noncontrolling interests
335.0

 
361.1

 
118.5

 
(477.2
)
 
337.4

Net (income) loss attributable to noncontrolling interests
—

 
—

 
(2.4
)
 
—

 
(2.4
)
Net income (loss) attributable to MCBC
$
335.0

 
$
361.1

 
$
116.1

 
$
(477.2
)
 
$
335.0

Comprehensive income attributable to MCBC
$
456.0

 
$
455.2

 
$
(1.0
)
 
$
(454.2
)
 
$
456.0

MOLSON COORS BREWING COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
FOR THE THREE MONTHS ENDED JUNE 30, 2017
(IN MILLIONS)
(UNAUDITED)


 
Parent
Issuer
 
Subsidiary
Guarantors
 
Subsidiary
Non
Guarantors
 
Eliminations
 
Consolidated
Sales
$
8.3

 
$
2,954.1

 
$
973.2

 
$
(142.5
)
 
$
3,793.1

Excise taxes
—

 
(411.5
)
 
(290.3
)
 
—

 
(701.8
)
Net sales
8.3

 
2,542.6

 
682.9

 
(142.5
)
 
3,091.3

Cost of goods sold
(1.0
)
 
(1,423.9
)
 
(461.8
)
 
130.6

 
(1,756.1
)
Gross profit
7.3

 
1,118.7

 
221.1

 
(11.9
)
 
1,335.2

Marketing, general and administrative expenses
(68.2
)
 
(558.7
)
 
(166.2
)
 
11.9

 
(781.2
)
Special items, net
(0.3
)
 
(13.7
)
 
(2.5
)
 
—

 
(16.5
)
Equity income (loss) in subsidiaries
434.0

 
(138.0
)
 
61.3

 
(357.3
)
 
—

Operating income (loss)
372.8

 
408.3

 
113.7

 
(357.3
)
 
537.5

Interest income (expense), net
(74.4
)
 
60.3

 
(75.1
)
 
—

 
(89.2
)
Other income (expense), net
—

 
94.9

 
(93.4
)
 
—

 
1.5

Income (loss) from continuing operations before income taxes
298.4

 
563.5

 
(54.8
)
 
(357.3
)
 
449.8

Income tax benefit (expense)
24.9

 
(129.7
)
 
(18.2
)
 
—

 
(123.0
)
Net income (loss) from continuing operations
323.3

 
433.8

 
(73.0
)
 
(357.3
)
 
326.8

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

 
—

 
1.6

 
—

 
1.6

Net income (loss) including noncontrolling interests
323.3

 
433.8

 
(71.4
)
 
(357.3
)
 
328.4

Net (income) loss attributable to noncontrolling interests
—

 
—

 
(5.1
)
 
—

 
(5.1
)
Net income (loss) attributable to MCBC
$
323.3

 
$
433.8

 
$
(76.5
)
 
$
(357.3
)
 
$
323.3

Comprehensive income (loss) attributable to MCBC
$
571.2

 
$
725.7

 
$
87.0

 
$
(812.7
)
 
$
571.2


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

 
Parent
Issuer
 
Subsidiary
Guarantors
 
Subsidiary
Non
Guarantors
 
Eliminations
 
Consolidated
Sales
$
6.9

 
$
590.1

 
$
850.1

 
$
(40.1
)
 
$
1,407.0

Excise taxes
—

 
(131.8
)
 
(289.0
)
 
—

 
(420.8
)
Net sales
6.9

 
458.3

 
561.1

 
(40.1
)
 
986.2

Cost of goods sold
—

 
(242.9
)
 
(352.4
)
 
33.1

 
(562.2
)
Gross profit
6.9

 
215.4

 
208.7

 
(7.0
)
 
424.0

Marketing, general and administrative expenses
(51.1
)
 
(104.0
)
 
(165.5
)
 
7.0

 
(313.6
)
Special items, net
—

 
(1.4
)
 
(33.1
)
 
—

 
(34.5
)
Equity income (loss) in subsidiaries
228.5

 
(90.9
)
 
87.9

 
(225.5
)
 
—

Equity income in MillerCoors
—

 
191.9

 
—

 
—

 
191.9

Operating income (loss)
184.3

 
211.0

 
98.0

 
(225.5
)
 
267.8

Interest income (expense), net
(32.8
)
 
71.6

 
(79.3
)
 
—

 
(40.5
)
Other income (expense), net
(22.0
)
 
(8.7
)
 
0.3

 
—

 
(30.4
)
Income (loss) from continuing operations before income taxes
129.5

 
273.9

 
19.0

 
(225.5
)
 
196.9

Income tax benefit (expense)
42.8

 
(87.9
)
 
23.9

 
—

 
(21.2
)
Net income (loss) from continuing operations
172.3

 
186.0

 
42.9

 
(225.5
)
 
175.7

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

 
—

 
(1.8
)
 
—

 
(1.8
)
Net income (loss) including noncontrolling interests
172.3

 
186.0

 
41.1

 
(225.5
)
 
173.9

Net (income) loss attributable to noncontrolling interests
—

 
—

 
(1.6
)
 
—

 
(1.6
)
Net income (loss) attributable to MCBC
$
172.3

 
$
186.0

 
$
39.5

 
$
(225.5
)
 
$
172.3

Comprehensive income (loss) attributable to MCBC
$
36.3

 
$
46.4

 
$
(100.4
)
 
$
54.0

 
$
36.3



MOLSON COORS BREWING COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING BALANCE SHEET
AS OF JUNE 30, 2017
(IN MILLIONS)
(UNAUDITED)
 
Parent
Issuer
 
Subsidiary
Guarantors
 
Subsidiary
Non
Guarantors
 
Eliminations
 
Consolidated
Assets
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
71.4

 
$
109.3

 
$
322.2

 
$
—

 
$
502.9

Accounts receivable, net
—

 
536.5

 
426.4

 
—

 
962.9

Other receivables, net
10.9

 
61.6

 
41.3

 
—

 
113.8

Inventories, net
—

 
481.6

 
152.1

 
—

 
633.7

Other current assets, net
6.6

 
197.0

 
72.1

 
—

 
275.7

Intercompany accounts receivable
—

 
1,893.9

 
65.3

 
(1,959.2
)
 
—

Total current assets
88.9

 
3,279.9

 
1,079.4

 
(1,959.2
)
 
2,489.0

Properties, net
24.7

 
3,459.1

 
1,101.4

 
—

 
4,585.2

Goodwill
—

 
6,674.6

 
1,716.6

 
—

 
8,391.2

Other intangibles, net
9.0

 
12,188.1

 
2,002.5

 
—

 
14,199.6

Net investment in and advances to subsidiaries
23,716.5

 
3,466.1

 
4,529.8

 
(31,712.4
)
 
—

Other assets
90.0

 
178.4

 
220.2

 
(35.0
)
 
453.6

Total assets
$
23,929.1

 
$
29,246.2

 
$
10,649.9

 
$
(33,706.6
)
 
$
30,118.6

Liabilities and equity
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
Accounts payable and other current liabilities
$
168.5

 
$
1,547.9

 
$
900.2

 
$
—

 
$
2,616.6

Current portion of long-term debt and short-term borrowings
281.1

 
385.5

 
20.0

 
—

 
686.6

Discontinued operations
—

 
—

 
4.9

 
—

 
4.9

Intercompany accounts payable
1,646.0

 
145.3

 
167.9

 
(1,959.2
)
 
—

Total current liabilities
2,095.6

 
2,078.7

 
1,093.0

 
(1,959.2
)
 
3,308.1

Long-term debt
9,724.4

 
1,460.7

 
—

 
—

 
11,185.1

Pension and postretirement benefits
2.7

 
1,108.2

 
13.9

 
—

 
1,124.8

Deferred tax liabilities
—

 
1,073.4

 
826.8

 
(35.0
)
 
1,865.2

Other liabilities
11.6

 
210.9

 
94.7

 
—

 
317.2

Discontinued operations
—

 
—

 
12.4

 
—

 
12.4

Intercompany notes payable
—

 
1,360.7

 
6,223.7

 
(7,584.4
)
 
—

Total liabilities
11,834.3

 
7,292.6

 
8,264.5

 
(9,578.6
)
 
17,812.8

MCBC stockholders' equity
12,095.9

 
28,176.2

 
3,536.2

 
(31,712.4
)
 
12,095.9

Intercompany notes receivable
(1.1
)
 
(6,222.6
)
 
(1,360.7
)
 
7,584.4

 
—

Total stockholders' equity
12,094.8

 
21,953.6

 
2,175.5

 
(24,128.0
)
 
12,095.9

Noncontrolling interests
—

 
—

 
209.9

 
—

 
209.9

Total equity
12,094.8

 
21,953.6

 
2,385.4

 
(24,128.0
)
 
12,305.8

Total liabilities and equity
$
23,929.1

 
$
29,246.2

 
$
10,649.9

 
$
(33,706.6
)
 
$
30,118.6


MOLSON COORS BREWING COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING BALANCE SHEET
AS OF DECEMBER 31, 2016
(IN MILLIONS)
(UNAUDITED)

 
Parent
Issuer
 
Subsidiary
Guarantors
 
Subsidiary
Non
Guarantors
 
Eliminations
 
Consolidated
Assets
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
147.3

 
$
141.5

 
$
272.1

 
$
—

 
$
560.9

Accounts receivable, net
—

 
374.8

 
294.7

 
—

 
669.5

Other receivables, net
43.6

 
53.8

 
38.4

 
—

 
135.8

Inventories, net
—

 
466.6

 
126.1

 
—

 
592.7

Other current assets, net
1.3

 
139.3

 
70.1

 
—

 
210.7

Intercompany accounts receivable
—

 
1,098.5

 
36.0

 
(1,134.5
)
 
—

Total current assets
192.2

 
2,274.5

 
837.4

 
(1,134.5
)
 
2,169.6

Properties, net
27.5

 
3,459.9

 
1,020.0

 
—

 
4,507.4

Goodwill
—

 
6,647.5

 
1,602.6

 
—

 
8,250.1

Other intangibles, net
—

 
12,180.4

 
1,851.5

 
—

 
14,031.9

Net investment in and advances to subsidiaries
22,506.3

 
3,475.4

 
4,400.9

 
(30,382.6
)
 
—

Other assets
80.2

 
161.7

 
173.4

 
(32.8
)
 
382.5

Total assets
$
22,806.2

 
$
28,199.4

 
$
9,885.8

 
$
(31,549.9
)
 
$
29,341.5

Liabilities and equity
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
Accounts payable and other current liabilities
$
203.6

 
$
1,493.5

 
$
770.6

 
$
—

 
$
2,467.7

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

 
371.7

 
13.2

 
—

 
684.8

Discontinued operations
—

 
—

 
5.0

 
—

 
5.0

Intercompany accounts payable
893.5

 
101.8

 
139.2

 
(1,134.5
)
 
—

Total current liabilities
1,397.0

 
1,967.0

 
928.0

 
(1,134.5
)
 
3,157.5

Long-term debt
9,979.4

 
1,408.2

 
0.1

 
—

 
11,387.7

Pension and postretirement benefits
2.6

 
1,181.2

 
12.2

 
—

 
1,196.0

Deferred tax liabilities
—

 
972.0

 
759.8

 
(32.8
)
 
1,699.0

Other liabilities
9.6

 
229.2

 
28.2

 
—

 
267.0

Discontinued operations
—

 
—

 
12.6

 
—

 
12.6

Intercompany notes payable
—

 
1,360.3

 
5,868.4

 
(7,228.7
)
 
—

Total liabilities
11,388.6

 
7,117.9

 
7,609.3

 
(8,396.0
)
 
17,719.8

MCBC stockholders' equity
11,418.7

 
26,948.9

 
3,433.7

 
(30,382.6
)
 
11,418.7

Intercompany notes receivable
(1.1
)
 
(5,867.4
)
 
(1,360.2
)
 
7,228.7

 
—

Total stockholders' equity
11,417.6

 
21,081.5

 
2,073.5

 
(23,153.9
)
 
11,418.7

Noncontrolling interests
—

 
—

 
203.0

 
—

 
203.0

Total equity
11,417.6

 
21,081.5

 
2,276.5

 
(23,153.9
)
 
11,621.7

Total liabilities and equity
$
22,806.2

 
$
28,199.4

 
$
9,885.8

 
$
(31,549.9
)
 
$
29,341.5

MOLSON COORS BREWING COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE SIX MONTHS ENDED JUNE 30, 2017
(IN MILLIONS)
(UNAUDITED)

 
Parent
Issuer
 
Subsidiary
Guarantors
 
Subsidiary
Non
Guarantors
 
Eliminations
 
Consolidated
Net cash provided by (used in) operating activities
$
496.0

 
$
471.3

 
$
111.8

 
$
(260.6
)
 
$
818.5

CASH FLOWS FROM INVESTING ACTIVITIES:
 
 
 
 
 
 
 
 
 
Additions to properties
(10.3
)
 
(275.3
)
 
(68.4
)
 
—

 
(354.0
)
Proceeds from sales of properties and other assets
—

 
2.2

 
43.9

 
—

 
46.1

Other
—

 
—

 
6.0

 
—

 
6.0

Net intercompany investing activity
—

 
(70.8
)
 
—

 
70.8

 
—

Net cash provided by (used in) investing activities
(10.3
)
 
(343.9
)
 
(18.5
)
 
70.8

 
(301.9
)
CASH FLOWS FROM FINANCING ACTIVITIES:
 
 
 
 
 
 
 
 
 
Exercise of stock options under equity compensation plans
1.1

 
—

 
—

 
—

 
1.1

Dividends paid
(161.8
)
 
(150.5
)
 
(124.9
)
 
260.6

 
(176.6
)
Debt issuance costs
(4.6
)
 
—

 
—

 
—

 
(4.6
)
Payments on debt and borrowings
(2,200.0
)
 
—

 
(1.5
)
 
—

 
(2,201.5
)
Proceeds on debt and borrowings
1,536.0

 
—

 
—

 
—

 
1,536.0

Net proceeds from (payments on) revolving credit facilities and commercial paper
280.3

 
—

 
1.7

 
—

 
282.0

Change in overdraft balances and other
(12.6
)
 
(10.6
)
 
(6.4
)
 
—

 
(29.6
)
Net intercompany financing activity
—

 
—

 
70.8

 
(70.8
)
 
—

Net cash provided by (used in) financing activities
(561.6
)
 
(161.1
)
 
(60.3
)
 
189.8

 
(593.2
)
CASH AND CASH EQUIVALENTS:
 
 
 
 
 
 
 
 
 
Net increase (decrease) in cash and cash equivalents
(75.9
)
 
(33.7
)
 
33.0

 
—

 
(76.6
)
Effect of foreign exchange rate changes on cash and cash equivalents
—

 
1.5

 
17.1

 
—

 
18.6

Balance at beginning of year
147.3

 
141.5

 
272.1

 
—

 
560.9

Balance at end of period
$
71.4

 
$
109.3

 
$
322.2

 
$
—

 
$
502.9


MOLSON COORS BREWING COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE SIX MONTHS ENDED JUNE 30, 2016
(IN MILLIONS)
(UNAUDITED)
 
Parent
Issuer
 
Subsidiary
Guarantors
 
Subsidiary
Non
Guarantors
 
Eliminations
 
Consolidated
Net cash provided by (used in) operating activities
$
185.4

 
$
92.8

 
$
44.5

 
$
(40.3
)
 
$
282.4

CASH FLOWS FROM INVESTING ACTIVITIES:
 
 
 
 
 
 
 
 
 
Additions to properties
(10.2
)
 
(35.9
)
 
(75.5
)
 
—

 
(121.6
)
Proceeds from sales of properties and other assets
—

 
142.1

 
2.5

 
—

 
144.6

Investment in MillerCoors
—

 
(810.6
)
 
—

 
—

 
(810.6
)
Return of capital from MillerCoors
—

 
731.1

 
—

 
—

 
731.1

Other
0.9

 
1.3

 
(6.3
)
 
—

 
(4.1
)
Net intercompany investing activity
(1.1
)
 
(39.7
)
 
(0.9
)
 
41.7

 
—

Net cash provided by (used in) investing activities
(10.4
)
 
(11.7
)
 
(80.2
)
 
41.7

 
(60.6
)
CASH FLOWS FROM FINANCING ACTIVITIES:
 

 
 

 
 

 
 

 
 

Proceeds from issuance of common stock, net
2,525.9

 
—

 
—

 
—

 
2,525.9

Exercise of stock options under equity compensation plans
5.4

 
—

 
—

 
—

 
5.4

Dividends paid
(161.1
)
 
(40.3
)
 
(15.4
)
 
40.3

 
(176.5
)
Debt issuance costs
(15.0
)
 
—

 
—

 
—

 
(15.0
)
Payments on debt and borrowings
—

 
—

 
(17.9
)
 
—

 
(17.9
)
Proceeds on debt and borrowings
—

 
—

 
31.7

 
—

 
31.7

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

 
—

 
2.5

 
—

 
2.5

Change in overdraft balances and other
(14.0
)
 
—

 
(3.5
)
 
—

 
(17.5
)
Net intercompany financing activity
—

 
2.0

 
39.7

 
(41.7
)
 
—

Net cash provided by (used in) financing activities
2,341.2

 
(38.3
)
 
37.1

 
(1.4
)
 
2,338.6

CASH AND CASH EQUIVALENTS:
 
 
 
 
 
 
 
 
 
Net increase (decrease) in cash and cash equivalents
2,516.2

 
42.8

 
1.4

 
—

 
2,560.4

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

 
3.9

 
(4.9
)
 
—

 
(1.0
)
Balance at beginning of year
146.4

 
106.2

 
178.3

 
—

 
430.9

Balance at end of period
$
2,662.6

 
$
152.9

 
$
174.8

 
$
—

 
$
2,990.3