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Segment Reporting (Tables)
 6 Months Ended
Jun. 30, 2017
Segment Reporting [Abstract]  
Net sales by segment
The following tables present net sales, income (loss) from continuing operations before income taxes and total assets by segment:
 
Three Months Ended
 
Six Months Ended
 
June 30, 2017
 
June 30, 2016
 
June 30, 2017
 
June 30, 2016
 
(In millions)
U.S.(1)
$
2,138.9

 
$
—

 
$
3,888.8

 
$
—

Canada
407.6

 
425.9

 
698.7

 
693.9

Europe
524.7

 
522.1

 
906.3

 
880.8

International
65.1

 
39.2

 
126.9

 
70.2

Corporate
0.3

 
0.2

 
0.6

 
0.6

Eliminations(2)
(45.3
)
 
(1.2
)
 
(81.3
)
 
(2.1
)
         Consolidated net sales
$
3,091.3

 
$
986.2

 
$
5,540.0

 
$
1,643.4


(1)
Prior to October 11, 2016, MCBC’s 42% share of MillerCoors' results of operations was reported as equity income in MillerCoors in the unaudited condensed consolidated statements of operations. As a result of the Acquisition, beginning October 11, 2016, MillerCoors' results were fully consolidated into MCBC’s consolidated financial statements.
(2)
Eliminations reflect gross inter-segment sales which are eliminated in the consolidated totals.
Income (loss) from continuing operations before income taxes by segment
 
Three Months Ended
 
Six Months Ended
 
June 30, 2017
 
June 30, 2016
 
June 30, 2017
 
June 30, 2016
 
(In millions)
U.S.(1)
$
484.7

 
$
191.9

 
$
800.3

 
$
334.3

Canada
68.7

 
88.5

 
91.8

 
235.1

Europe(2)
73.3

 
59.0

 
103.9

 
57.8

International
(7.7
)
 
(33.4
)
 
(6.2
)
 
(35.7
)
Corporate
(169.2
)
 
(109.1
)
 
(267.0
)
 
(213.9
)
Consolidated income (loss) from continuing operations before income taxes
$
449.8

 
$
196.9

 
$
722.8

 
$
377.6


(1)
Prior to October 11, 2016, MCBC’s 42% share of MillerCoors' results of operations was reported as equity income in MillerCoors in the unaudited condensed consolidated statements of operations. As a result of the Acquisition, beginning October 11, 2016, MillerCoors' results were fully consolidated into MCBC’s consolidated financial statements.
(2)
In the first quarter of 2017, the largest food and retail company in Croatia, Agrokor, announced that it was facing significant financial difficulties that raised doubt about the collectibility of certain of our outstanding receivables with its direct subsidiaries. These subsidiaries are customers of ours within the Europe segment and, therefore, we are closely monitoring the situation. Specifically, Agrokor has entered into active discussions with local regulators, financial institutions and other creditors to stabilize and restructure its business and sustain ongoing operations. Our exposure related to Agrokor, as of June 30, 2017, was approximately $17 million, based on foreign exchange rates as of June 30, 2017. Based on the facts and circumstances known at this time, we recorded a provision for an estimate of uncollectible receivables of approximately $11 million in the first quarter of 2017, and this allowance, in local currency, remains at June 30, 2017. Separately, we released an indirect tax loss contingency, which was initially recorded in the fourth quarter of 2016, for a benefit of approximately $50 million during the first quarter of 2017; see Note 16, "Commitments and Contingencies" for details.
Total assets by segment
 
As of
 
June 30, 2017
 
December 31, 2016(1)
 
(In millions)
U.S.
$
19,936.1

 
$
19,844.7

Canada
4,388.7


4,206.8

Europe
5,191.7


4,673.7

International
317.0


302.8

Corporate
285.1


313.5

Consolidated total assets
$
30,118.6


$
29,341.5


(1)
The allocation of total assets by segment as of December 31, 2016, has been adjusted for a reclassification between Corporate and International to reflect certain assets acquired in the Acquisition that have been subsequently allocated to International for segment reporting.