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Supplemental Guarantor Information Supplemental (Tables)
 9 Months Ended
Sep. 30, 2018
Statement of Operations [Member]  
Schedule of Supplemental Guarantor Information
MOLSON COORS BREWING COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
(IN MILLIONS)
(UNAUDITED)

 
Three Months Ended
 
September 30, 2018
 
Parent
Issuer
 
Subsidiary
Guarantors
 
Subsidiary
Non
Guarantors
 
Eliminations
 
Consolidated
Sales
$
2.1

 
$
2,714.4

 
$
1,030.9

 
$
(122.3
)
 
$
3,625.1

Excise taxes
—

 
(391.2
)
 
(299.7
)
 
—

 
(690.9
)
Net sales
2.1

 
2,323.2

 
731.2

 
(122.3
)
 
2,934.2

Cost of goods sold
(0.5
)
 
(1,356.2
)
 
(479.2
)
 
121.9

 
(1,714.0
)
Gross profit
1.6

 
967.0

 
252.0

 
(0.4
)
 
1,220.2

Marketing, general and administrative expenses
(57.4
)
 
(496.6
)
 
(160.3
)
 
0.4

 
(713.9
)
Special items, net
(0.1
)
 
(34.2
)
 
(2.3
)
 
—

 
(36.6
)
Equity income (loss) in subsidiaries
434.7

 
18.9

 
62.6

 
(516.2
)
 
—

Operating income (loss)
378.8

 
455.1

 
152.0

 
(516.2
)
 
469.7

Interest income (expense), net
(78.5
)
 
90.9

 
(79.8
)
 
—

 
(67.4
)
Other pension and postretirement benefits (costs), net
(0.1
)
 
(0.5
)
 
8.2

 
—

 
7.6

Other income (expense), net
—

 
(9.4
)
 
9.6

 
—

 
0.2

Income (loss) before income taxes
300.2

 
536.1

 
90.0

 
(516.2
)
 
410.1

Income tax benefit (expense)
38.1

 
(101.5
)
 
(1.1
)
 
—

 
(64.5
)
Net income (loss)
338.3

 
434.6

 
88.9

 
(516.2
)
 
345.6

Net (income) loss attributable to noncontrolling interests
—

 
—

 
(7.3
)
 
—

 
(7.3
)
Net income (loss) attributable to MCBC
$
338.3

 
$
434.6

 
$
81.6

 
$
(516.2
)
 
$
338.3

Comprehensive income (loss) attributable to MCBC
$
367.3

 
$
435.9

 
$
51.0

 
$
(486.9
)
 
$
367.3


MOLSON COORS BREWING COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
(IN MILLIONS)
(UNAUDITED)

 
Three Months Ended
 
September 30, 2017
 
Parent
Issuer
 
Subsidiary
Guarantors
 
Subsidiary
Non
Guarantors
 
Eliminations
 
Consolidated
Sales
$
7.6

 
$
2,696.1

 
$
991.8

 
$
(142.6
)
 
$
3,552.9

Excise taxes
—

 
(388.2
)
 
(281.5
)
 
—

 
(669.7
)
Net sales
7.6

 
2,307.9

 
710.3

 
(142.6
)
 
2,883.2

Cost of goods sold
(0.5
)
 
(1,248.9
)
 
(470.7
)
 
131.0

 
(1,589.1
)
Gross profit
7.1

 
1,059.0

 
239.6

 
(11.6
)
 
1,294.1

Marketing, general and administrative expenses
(67.6
)
 
(560.1
)
 
(167.7
)
 
11.6

 
(783.8
)
Special items, net
—

 
(6.0
)
 
1.9

 
—

 
(4.1
)
Equity income (loss) in subsidiaries
390.5

 
(72.7
)
 
71.8

 
(389.6
)
 
—

Operating income (loss)
330.0

 
420.2

 
145.6

 
(389.6
)
 
506.2

Interest income (expense), net
(72.6
)
 
81.7

 
(81.7
)
 
—

 
(72.6
)
Other pension and postretirement benefits (costs), net
—

 
(1.9
)
 
11.5

 
—

 
9.6

Other income (expense), net
0.3

 
43.9

 
(46.9
)
 
—

 
(2.7
)
Income (loss) before income taxes
257.7

 
543.9

 
28.5

 
(389.6
)
 
440.5

Income tax benefit (expense)
29.3

 
(153.2
)
 
(23.5
)
 
—

 
(147.4
)
Net income (loss)
287.0

 
390.7

 
5.0

 
(389.6
)
 
293.1

Net (income) loss attributable to noncontrolling interests
—

 
—

 
(6.1
)
 
—

 
(6.1
)
Net income (loss) attributable to MCBC
$
287.0

 
$
390.7

 
$
(1.1
)
 
$
(389.6
)
 
$
287.0

Comprehensive income (loss) attributable to MCBC
$
468.9

 
$
577.2

 
$
77.2

 
$
(654.4
)
 
$
468.9


MOLSON COORS BREWING COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
(IN MILLIONS)
(UNAUDITED)

 
Nine Months Ended
 
September 30, 2018
 
Parent
Issuer
 
Subsidiary
Guarantors
 
Subsidiary
Non
Guarantors
 
Eliminations
 
Consolidated
Sales
$
7.0

 
$
7,823.7

 
$
2,853.2

 
$
(370.3
)
 
$
10,313.6

Excise taxes
—

 
(1,099.0
)
 
(863.7
)
 
—

 
(1,962.7
)
Net sales
7.0

 
6,724.7

 
1,989.5

 
(370.3
)
 
8,350.9

Cost of goods sold
(1.5
)
 
(3,982.9
)
 
(1,364.7
)
 
360.3

 
(4,988.8
)
Gross profit
5.5

 
2,741.8

 
624.8

 
(10.0
)
 
3,362.1

Marketing, general and administrative expenses
(188.5
)
 
(1,473.9
)
 
(487.3
)
 
10.0

 
(2,139.7
)
Special items, net
(0.5
)
 
279.5

 
(11.3
)
 
—

 
267.7

Equity income (loss) in subsidiaries
1,332.1

 
(60.7
)
 
124.8

 
(1,396.2
)
 
—

Operating income (loss)
1,148.6

 
1,486.7

 
251.0

 
(1,396.2
)
 
1,490.1

Interest income (expense), net
(244.9
)
 
257.7

 
(240.1
)
 
—

 
(227.3
)
Other pension and postretirement benefits (costs), net
(0.1
)
 
2.5

 
25.1

 
—

 
27.5

Other income (expense), net
0.1

 
(49.7
)
 
49.8

 
—

 
0.2

Income (loss) before income taxes
903.7

 
1,697.2

 
85.8

 
(1,396.2
)
 
1,290.5

Income tax benefit (expense)
136.8

 
(364.7
)
 
(3.7
)
 
—

 
(231.6
)
Net income (loss)
1,040.5

 
1,332.5

 
82.1

 
(1,396.2
)
 
1,058.9

Net (income) loss attributable to noncontrolling interests
—

 
—

 
(18.4
)
 
—

 
(18.4
)
Net income (loss) attributable to MCBC
$
1,040.5

 
$
1,332.5

 
$
63.7

 
$
(1,396.2
)
 
$
1,040.5

Comprehensive income (loss) attributable to MCBC
$
904.1

 
$
1,148.4

 
$
(43.3
)
 
$
(1,105.1
)
 
$
904.1


MOLSON COORS BREWING COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
(IN MILLIONS)
(UNAUDITED)

 
Nine Months Ended
 
September 30, 2017
 
Parent
Issuer
 
Subsidiary
Guarantors
 
Subsidiary
Non
Guarantors
 
Eliminations
 
Consolidated
Sales
$
22.9

 
$
8,026.8

 
$
2,615.0

 
$
(404.9
)
 
$
10,259.8

Excise taxes
—

 
(1,125.4
)
 
(711.2
)
 
—

 
(1,836.6
)
Net sales
22.9

 
6,901.4

 
1,903.8

 
(404.9
)
 
8,423.2

Cost of goods sold
(1.5
)
 
(3,810.7
)
 
(1,275.8
)
 
371.1

 
(4,716.9
)
Gross profit
21.4

 
3,090.7

 
628.0

 
(33.8
)
 
3,706.3

Marketing, general and administrative expenses
(203.5
)
 
(1,617.0
)
 
(484.8
)
 
33.8

 
(2,271.5
)
Special items, net
(0.8
)
 
(23.3
)
 
(3.2
)
 
—

 
(27.3
)
Equity income (loss) in subsidiaries
1,177.1

 
(276.6
)
 
153.8

 
(1,054.3
)
 
—

Operating income (loss)
994.2

 
1,173.8

 
293.8

 
(1,054.3
)
 
1,407.5

Interest income (expense), net
(228.1
)
 
200.9

 
(231.2
)
 
—

 
(258.4
)
Other pension and postretirement benefits (costs), net
—

 
(1.9
)
 
34.2

 
—

 
32.3

Other income (expense), net
(7.9
)
 
155.5

 
(147.4
)
 
—

 
0.2

Income (loss) before income taxes
758.2

 
1,528.3

 
(50.6
)
 
(1,054.3
)
 
1,181.6

Income tax benefit (expense)
67.2

 
(351.0
)
 
(54.7
)
 
—

 
(338.5
)
Net income (loss)
825.4

 
1,177.3

 
(105.3
)
 
(1,054.3
)
 
843.1

Net (income) loss attributable to noncontrolling interests
—

 
—

 
(17.7
)
 
—

 
(17.7
)
Net income (loss) attributable to MCBC
$
825.4

 
$
1,177.3

 
$
(123.0
)
 
$
(1,054.3
)
 
$
825.4

Comprehensive income attributable to MCBC
$
1,326.3

 
$
1,725.4

 
$
160.0

 
$
(1,885.4
)
 
$
1,326.3
Balance Sheet [Member]  
Schedule of Supplemental Guarantor Information
MOLSON COORS BREWING COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING BALANCE SHEET
(IN MILLIONS)
(UNAUDITED)
 
As of
 
September 30, 2018
 
Parent
Issuer
 
Subsidiary
Guarantors
 
Subsidiary
Non
Guarantors
 
Eliminations
 
Consolidated
Assets
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
206.2

 
$
125.5

 
$
418.4

 
$
—

 
$
750.1

Accounts receivable, net
—

 
538.2

 
395.2

 
—

 
933.4

Other receivables, net
65.4

 
86.6

 
32.2

 
—

 
184.2

Inventories, net
—

 
475.7

 
156.2

 
—

 
631.9

Other current assets, net
2.0

 
213.9

 
96.8

 
—

 
312.7

Intercompany accounts receivable
—

 
2,014.8

 
81.7

 
(2,096.5
)
 
—

Total current assets
273.6

 
3,454.7

 
1,180.5

 
(2,096.5
)
 
2,812.3

Properties, net
17.4

 
3,437.1

 
1,139.0

 
—

 
4,593.5

Goodwill
—

 
6,473.2

 
1,859.8

 
—

 
8,333.0

Other intangibles, net
6.5

 
11,981.6

 
2,008.3

 
—

 
13,996.4

Net investment in and advances to subsidiaries
25,832.0

 
4,219.9

 
4,721.4

 
(34,773.3
)
 
—

Other assets
141.6

 
260.8

 
395.7

 
(63.0
)
 
735.1

Total assets
$
26,271.1

 
$
29,827.3

 
$
11,304.7

 
$
(36,932.8
)
 
$
30,470.3

Liabilities and equity
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
Accounts payable and other current liabilities
$
130.3

 
$
1,732.6

 
$
957.7

 
$
—

 
$
2,820.6

Current portion of long-term debt and short-term borrowings
1,578.5

 
—

 
23.5

 
—

 
1,602.0

Intercompany accounts payable
1,559.8

 
111.9

 
424.8

 
(2,096.5
)
 
—

Total current liabilities
3,268.6

 
1,844.5

 
1,406.0

 
(2,096.5
)
 
4,422.6

Long-term debt
7,775.4

 
1,159.0

 
35.9

 
—

 
8,970.3

Pension and postretirement benefits
3.1

 
811.3

 
13.2

 
—

 
827.6

Deferred tax liabilities
—

 
969.3

 
947.3

 
(63.0
)
 
1,853.6

Other liabilities
13.4

 
188.1

 
104.7

 
—

 
306.2

Intercompany notes payable
1,347.6

 
74.3

 
6,216.5

 
(7,638.4
)
 
—

Total liabilities
12,408.1

 
5,046.5

 
8,723.6

 
(9,797.9
)
 
16,380.3

MCBC stockholders' equity
13,864.1

 
30,996.1

 
3,777.2

 
(34,773.3
)
 
13,864.1

Intercompany notes receivable
(1.1
)
 
(6,215.3
)
 
(1,422.0
)
 
7,638.4

 
—

Total stockholders' equity
13,863.0

 
24,780.8

 
2,355.2

 
(27,134.9
)
 
13,864.1

Noncontrolling interests
—

 
—

 
225.9

 
—

 
225.9

Total equity
13,863.0

 
24,780.8

 
2,581.1

 
(27,134.9
)
 
14,090.0

Total liabilities and equity
$
26,271.1

 
$
29,827.3

 
$
11,304.7

 
$
(36,932.8
)
 
$
30,470.3


MOLSON COORS BREWING COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING BALANCE SHEET
(IN MILLIONS)
(UNAUDITED)

 
As of
 
December 31, 2017
 
Parent
Issuer
 
Subsidiary
Guarantors
 
Subsidiary
Non
Guarantors
 
Eliminations
 
Consolidated
Assets
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
6.6

 
$
140.9

 
$
271.1

 
$
—

 
$
418.6

Accounts receivable, net
—

 
424.8

 
309.0

 
—

 
733.8

Other receivables, net
90.4

 
45.2

 
32.6

 
—

 
168.2

Inventories, net
—

 
457.7

 
133.8

 
—

 
591.5

Other current assets, net
9.6

 
184.8

 
83.2

 
—

 
277.6

Intercompany accounts receivable
—

 
2,303.2

 
65.6

 
(2,368.8
)
 
—

Total current assets
106.6

 
3,556.6

 
895.3

 
(2,368.8
)
 
2,189.7

Properties, net
16.8

 
3,509.8

 
1,147.1

 
—

 
4,673.7

Goodwill
—

 
6,487.8

 
1,917.7

 
—

 
8,405.5

Other intangibles, net
8.0

 
12,183.8

 
2,104.7

 
—

 
14,296.5

Net investment in and advances to subsidiaries
26,443.9

 
4,297.4

 
4,683.1

 
(35,424.4
)
 
—

Other assets
101.7

 
253.7

 
387.2

 
(61.1
)
 
681.5

Total assets
$
26,677.0

 
$
30,289.1

 
$
11,135.1

 
$
(37,854.3
)
 
$
30,246.9

Liabilities and equity
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
Accounts payable and other current liabilities
$
180.4

 
$
1,648.9

 
$
855.2

 
$
—

 
$
2,684.5

Current portion of long-term debt and short-term borrowings
379.0

 
317.8

 
18.0

 
—

 
714.8

Intercompany accounts payable
2,131.8

 
102.8

 
134.2

 
(2,368.8
)
 
—

Total current liabilities
2,691.2

 
2,069.5

 
1,007.4

 
(2,368.8
)
 
3,399.3

Long-term debt
9,399.7

 
1,189.5

 
9.5

 
—

 
10,598.7

Pension and postretirement benefits
2.9

 
832.1

 
13.5

 
—

 
848.5

Deferred tax liabilities
—

 
864.7

 
845.0

 
(61.1
)
 
1,648.6

Other liabilities
10.7

 
200.1

 
106.0

 
—

 
316.8

Intercompany notes payable
1,347.6

 
227.0

 
6,370.5

 
(7,945.1
)
 
—

Total liabilities
13,452.1

 
5,382.9

 
8,351.9

 
(10,375.0
)
 
16,811.9

MCBC stockholders' equity
13,226.1

 
31,275.5

 
4,148.9

 
(35,424.4
)
 
13,226.1

Intercompany notes receivable
(1.2
)
 
(6,369.3
)
 
(1,574.6
)
 
7,945.1

 
—

Total stockholders' equity
13,224.9

 
24,906.2

 
2,574.3

 
(27,479.3
)
 
13,226.1

Noncontrolling interests
—

 
—

 
208.9

 
—

 
208.9

Total equity
13,224.9

 
24,906.2

 
2,783.2

 
(27,479.3
)
 
13,435.0

Total liabilities and equity
$
26,677.0

 
$
30,289.1

 
$
11,135.1

 
$
(37,854.3
)
 
$
30,246.9
Statement of Cash Flows [Member]  
Schedule of Supplemental Guarantor Information
MOLSON COORS BREWING COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
(IN MILLIONS)
(UNAUDITED)

 
Nine Months Ended
 
September 30, 2018
 
Parent
Issuer
 
Subsidiary
Guarantors
 
Subsidiary
Non
Guarantors
 
Eliminations
 
Consolidated
Net cash provided by (used in) operating activities
$
827.7

 
$
836.6

 
$
263.9

 
$
(136.8
)
 
$
1,791.4

CASH FLOWS FROM INVESTING ACTIVITIES:
 
 
 
 
 
 
 
 
 
Additions to properties
(9.0
)
 
(338.0
)
 
(144.0
)
 
—

 
(491.0
)
Proceeds from sales of properties and other assets
—

 
2.5

 
5.0

 
—

 
7.5

Other
—

 
(0.8
)
 
(49.2
)
 
—

 
(50.0
)
Net intercompany investing activity
34.5

 
(22.9
)
 
189.9

 
(201.5
)
 
—

Net cash provided by (used in) investing activities
25.5

 
(359.2
)
 
1.7

 
(201.5
)
 
(533.5
)
CASH FLOWS FROM FINANCING ACTIVITIES:
 
 
 
 
 
 
 
 
 
Exercise of stock options under equity compensation plans
6.7

 
—

 
—

 
—

 
6.7

Dividends paid
(243.8
)
 
—

 
(158.6
)
 
136.8

 
(265.6
)
Payments on debt and borrowings
—

 
(307.2
)
 
(3.0
)
 
—

 
(310.2
)
Net proceeds from (payments on) revolving credit facilities and commercial paper
(378.4
)
 
—

 
3.6

 
—

 
(374.8
)
Change in overdraft balances and other
(5.5
)
 
(7.4
)
 
33.4

 
—

 
20.5

Net intercompany financing activity
(32.6
)
 
(181.1
)
 
12.2

 
201.5

 
—

Net cash provided by (used in) financing activities
(653.6
)
 
(495.7
)
 
(112.4
)
 
338.3

 
(923.4
)
CASH AND CASH EQUIVALENTS:
 
 
 
 
 
 
 
 
 
Net increase (decrease) in cash and cash equivalents
199.6

 
(18.3
)
 
153.2

 
—

 
334.5

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

 
2.9

 
(5.9
)
 
—

 
(3.0
)
Balance at beginning of year
6.6

 
140.9

 
271.1

 
—

 
418.6

Balance at end of period
$
206.2

 
$
125.5

 
$
418.4

 
$
—

 
$
750.1


MOLSON COORS BREWING COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
(IN MILLIONS)
(UNAUDITED)
 
Nine Months Ended
 
September 30, 2017
 
Parent
Issuer
 
Subsidiary
Guarantors
 
Subsidiary
Non
Guarantors
 
Eliminations
 
Consolidated
Net cash provided by (used in) operating activities
$
531.2

 
$
650.8

 
$
574.7

 
$
(611.3
)
 
$
1,145.4

CASH FLOWS FROM INVESTING ACTIVITIES:
 
 
 
 
 
 
 
 
 
Additions to properties
(12.3
)
 
(341.4
)
 
(112.3
)
 
—

 
(466.0
)
Proceeds from sales of properties and other assets
—

 
3.7

 
53.2

 
—

 
56.9

Other
—

 
0.4

 
10.7

 
—

 
11.1

Net intercompany investing activity
49.6

 
(69.6
)
 
(347.3
)
 
367.3

 
—

Net cash provided by (used in) investing activities
37.3

 
(406.9
)
 
(395.7
)
 
367.3

 
(398.0
)
CASH FLOWS FROM FINANCING ACTIVITIES:
 

 
 

 
 

 
 

 
 

Exercise of stock options under equity compensation plans
3.6

 
—

 
—

 
—

 
3.6

Dividends paid
(242.9
)
 
(497.5
)
 
(135.8
)
 
611.3

 
(264.9
)
Payments on debt and borrowings
(2,600.0
)
 
—

 
(1.5
)
 
—

 
(2,601.5
)
Proceeds on debt and borrowings
1,536.0

 
—

 
—

 
—

 
1,536.0

Net proceeds from (payments on) revolving credit facilities and commercial paper
1,003.9

 
—

 
(4.2
)
 
—

 
999.7

Change in overdraft balances and other
(19.7
)
 
(10.8
)
 
(10.2
)
 
—

 
(40.7
)
Net intercompany financing activity
—

 
296.7

 
70.6

 
(367.3
)
 
—

Net cash provided by (used in) financing activities
(319.1
)
 
(211.6
)
 
(81.1
)
 
244.0

 
(367.8
)
CASH AND CASH EQUIVALENTS:
 
 
 
 
 
 
 
 
 
Net increase (decrease) in cash and cash equivalents
249.4

 
32.3

 
97.9

 
—

 
379.6

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

 
4.3

 
26.5

 
—

 
30.8

Balance at beginning of year
147.3

 
141.5

 
272.1

 
—

 
560.9

Balance at end of period
$
396.7

 
$
178.1

 
$
396.5

 
$
—

 
$
971.3