Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2017

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

The following tables represent consolidated net sales, interest expense, interest income and reconciliations of amounts shown as income (loss) from continuing operations before income taxes to income (loss) from continuing operations attributable to MCBC. Income (loss) from continuing operations before income taxes includes the impact of special items; refer to Note 7, "Special Items" for further discussion. Income (loss) from continuing operations before income taxes and income tax benefit (expense) for 2016 and 2015 have been revised to reflect the retrospective application of our change in accounting policy as discussed in Note 1, "Basis of Presentation and Summary of Significant Accounting Policies". Additionally, various costs associated with the Acquisition, including its related financing, were recorded in 2017 and 2016; refer to Note 4, "Acquisition and Investments" for details.



	Year ended December 31, 2017
	U.S.		Canada		Europe⁽¹⁾		International			Corporate			Inter-segment net sales eliminations			Consolidated
	(In millions)
Net sales	$	7,505.7	$	1,458.0	$	1,940.7	$	264.0		$	0.9		$	(166.5	)	$	11,002.8
Interest expense	13.1		—		—		—			(362.4		)	—			(349.3		)
Interest income	—		—		3.6		—			2.4			—			6.0
Income (loss) from continuing operations before income taxes	$	1,392.9	$	212.8	$	281.0	$	(19.7	)	$	(485.3	)	$	—		$	1,381.7
Income tax benefit (expense)																53.2
Net income (loss) from continuing operations																1,434.9
Net (income) loss attributable to noncontrolling interests																(22.2		)
Net income (loss) from continuing operations attributable to MCBC																$	1,412.7

(1)

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. As a result, we recorded a provision for an estimate of uncollectible receivables during 2017. As of December 31, 2017, our gross accounts receivable related to Agrokor was approximately $8 million, with an associated provision for estimated uncollectible receivables of $6 million, based on foreign exchange rates as of December 31, 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 19, "Commitments and Contingencies" for details.



	Year ended December 31, 2016
	U.S.⁽¹⁾		Canada			Europe⁽²⁾		International			Corporate			Inter-segment net sales eliminations			Consolidated
	(In millions)
Net sales	$	1,566.6	$	1,425.7		$	1,760.2	$	163.6		$	1.0		$	(32.1	)	$	4,885.0
Interest expense	—		—			—		—			(271.6		)	—			(271.6		)
Interest income	—		—			3.6		—			23.6			—			27.2
Income (loss) from continuing operations before income taxes	$	3,570.4	$	(125.6	)	$	149.7	$	(39.7	)	$	(497.9	)	$	—		$	3,056.9
Income tax benefit (expense)																	(1,055.2		)
Net income (loss) from continuing operations																	2,001.7
Net (income) loss attributable to noncontrolling interests																	(5.9		)
Net income (loss) from continuing operations attributable to MCBC																	$	1,995.8

(1)

Prior to October 11, 2016, MCBC’s 42% share of MillerCoors' results of operations was reported as equity income in MillerCoors in the 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. The above table reflects this treatment accordingly. Also included in net income from continuing operations attributable to MCBC is a net special items gain of approximately $3.0 billion related to the fair value remeasurement of our pre-existing 42% interest in MillerCoors over its carrying value, as well as the reclassification of the loss related to MCBC's historical AOCI on our 42% interest in MillerCoors. Refer to Note 4, "Acquisition and Investments" for further discussion.


(2)	During the fourth quarter of 2016, we recorded a charge of approximately $50 million within excise taxes due to assessments received from a local country regulatory authority in Europe related to indirect tax calculations. See Note 19, "Commitments and Contingencies" for further discussion.



	Year ended December 31, 2015
	U.S.		Canada		Europe			International			Corporate			Inter-segment net sales eliminations		Consolidated
	(In millions)
Net sales	$	—	$	1,511.5	$	1,914.9		$	144.5		$	1.0		(4.4	)	$	3,567.5
Interest expense	—		—		—			—			(120.3		)	—		(120.3		)
Interest income	—		—		3.9			—			4.4			—		8.3
Income (loss) from continuing operations before income taxes	$	516.3	$	296.7	$	(83.7	)	$	(24.8	)	$	(248.4	)	—		$	456.1
Income tax benefit (expense)																(61.5		)
Net income (loss) from continuing operations																394.6
Net (income) loss attributable to noncontrolling interests																(3.3		)
Net income (loss) from continuing operations attributable to MCBC																$	391.3

Cash flows information by segment

The following table presents total assets and select cash flow information by segment:



	Assets				Depreciation and amortization						Capital expenditures
	As of December 31,				For the years ended December 31,						For the years ended December 31,
	2017		2016⁽¹⁾		2017		2016		2015		2017		2016		2015
	(In millions)
U.S.⁽²⁾	$	19,353.6	$	19,844.7	$	485.7	$	105.7	$	—	$	351.5	$	105.4	$	—
Canada	4,835.7		4,206.8		131.2		98.4		117.3		99.9		72.2		77.3
Europe	5,522.0		4,673.7		182.3		175.7		186.5		131.6		144.4		173.7
International	294.8		302.8		9.6		5.1		3.9		2.3		4.9		10.0
Corporate	240.8		313.5		4.0		3.5		6.7		14.3		14.9		14.0
Consolidated	$	30,246.9	$	29,341.5	$	812.8	$	388.4	$	314.4	$	599.6	$	341.8	$	275.0

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, 2017		December 31, 2016		December 31, 2015
	(In millions)
Net sales to unaffiliated customers:
United States and its territories⁽¹⁾	$	7,493.6	$	1,622.4	$	94.1
Canada	1,358.4		1,344.4		1,421.1
United Kingdom	1,172.8		1,071.4		1,224.6
Other foreign countries⁽²⁾	978.0		846.8		827.7
Consolidated net sales	$	11,002.8	$	4,885.0	$	3,567.5

(1)


(2)	Reflects net sales from the individual countries within our Central European operations (included in our Europe segment), as well as our International 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, 2017		December 31, 2016
	(In millions)
Net properties:
United States and its territories	$	3,025.0	$	3,065.4
Canada	673.0		583.1
United Kingdom	392.6		348.1
Other foreign countries⁽¹⁾	583.1		510.8
Consolidated net properties	$	4,673.7	$	4,507.4


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