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Supplemental Guarantor Information Supplemental (Tables)
 3 Months Ended
Mar. 31, 2020
Statement of Operations [Member]  
Schedule of Supplemental Guarantor Information
MOLSON COORS BEVERAGE COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
(IN MILLIONS)
(UNAUDITED)

 
Three Months Ended
 
March 31, 2020
 
Parent
Issuer
 
Subsidiary
Guarantors
 
Subsidiary
Non
Guarantors
 
Eliminations
 
Consolidated
Sales
$
1.7

 
$
2,039.0

 
$
613.3

 
$
(116.2
)
 
$
2,537.8

Excise taxes
—

 
(263.2
)
 
(171.8
)
 
—

 
(435.0
)
Net sales
1.7

 
1,775.8

 
441.5

 
(116.2
)
 
2,102.8

Cost of goods sold
(0.4
)
 
(1,217.7
)
 
(372.4
)
 
111.5

 
(1,479.0
)
Gross profit
1.3

 
558.1

 
69.1

 
(4.7
)
 
623.8

Marketing, general and administrative expenses
(36.7
)
 
(440.6
)
 
(157.1
)
 
4.7

 
(629.7
)
Special items, net
(5.3
)
 
(73.1
)
 
(8.2
)
 
—

 
(86.6
)
Equity income (loss) in subsidiaries
(34.8
)
 
(74.9
)
 
(20.2
)
 
129.9

 
—

Operating income (loss)
(75.5
)
 
(30.5
)
 
(116.4
)
 
129.9

 
(92.5
)
Interest income (expense), net
(59.5
)
 
(7.1
)
 
(2.3
)
 
—

 
(68.9
)
Other pension and postretirement benefits (costs), net
—

 
5.1

 
2.4

 
—

 
7.5

Other income (expense), net
(0.6
)
 
(4.0
)
 
(0.2
)
 
—

 
(4.8
)
Income (loss) before income taxes
(135.6
)
 
(36.5
)
 
(116.5
)
 
129.9

 
(158.7
)
Income tax benefit (expense)
18.6

 
3.2

 
21.5

 
—

 
43.3

Net income (loss)
(117.0
)
 
(33.3
)
 
(95.0
)
 
129.9

 
(115.4
)
Net (income) loss attributable to noncontrolling interests
—

 
—

 
(1.6
)
 
—

 
(1.6
)
Net income (loss) attributable to MCBC
$
(117.0
)
 
$
(33.3
)
 
$
(96.6
)
 
$
129.9

 
$
(117.0
)
Comprehensive income (loss) attributable to MCBC
$
(616.1
)
 
$
(393.0
)
 
$
(541.3
)
 
$
934.3

 
$
(616.1
)

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

 
Three Months Ended
 
March 31, 2019
 
Parent
Issuer
 
Subsidiary
Guarantors
 
Subsidiary
Non
Guarantors
 
Eliminations
 
Consolidated
Sales
$
26.3

 
$
2,209.3

 
$
694.9

 
$
(130.4
)
 
$
2,800.1

Excise taxes
—

 
(284.7
)
 
(212.1
)
 
—

 
(496.8
)
Net sales
26.3

 
1,924.6

 
482.8

 
(130.4
)
 
2,303.3

Cost of goods sold
(1.5
)
 
(1,135.3
)
 
(365.6
)
 
89.4

 
(1,413.0
)
Gross profit
24.8

 
789.3

 
117.2

 
(41.0
)
 
890.3

Marketing, general and administrative expenses
(71.6
)
 
(457.9
)
 
(166.7
)
 
41.0

 
(655.2
)
Special items, net
(0.4
)
 
(8.4
)
 
(4.2
)
 
—

 
(13.0
)
Equity income (loss) in subsidiaries
245.3

 
(63.0
)
 
(5.9
)
 
(176.4
)
 
—

Operating income (loss)
198.1

 
260.0

 
(59.6
)
 
(176.4
)
 
222.1

Interest income (expense), net
(77.4
)
 
80.2

 
(76.1
)
 
—

 
(73.3
)
Other pension and postretirement benefits (costs), net
—

 
1.2

 
7.4

 
—

 
8.6

Other income (expense), net
—

 
(29.9
)
 
53.8

 
—

 
23.9

Income (loss) before income taxes
120.7

 
311.5

 
(74.5
)
 
(176.4
)
 
181.3

Income tax benefit (expense)
30.7

 
(66.0
)
 
3.1

 
—

 
(32.2
)
Net income (loss)
151.4

 
245.5

 
(71.4
)
 
(176.4
)
 
149.1

Net (income) loss attributable to noncontrolling interests
—

 
—

 
2.3

 
—

 
2.3

Net income (loss) attributable to MCBC
$
151.4

 
$
245.5

 
$
(69.1
)
 
$
(176.4
)
 
$
151.4

Comprehensive income (loss) attributable to MCBC
$
193.5

 
$
270.8

 
$
(64.4
)
 
$
(206.4
)
 
$
193.5


 
 
 
 
 
 
 
 
 
 

 
 
 
 
 
 
 
 
 
 
Balance Sheet [Member]  
Schedule of Supplemental Guarantor Information
MOLSON COORS BEVERAGE COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING BALANCE SHEET
(IN MILLIONS)
(UNAUDITED)
 
As of
 
March 31, 2020
 
Parent
Issuer
 
Subsidiary
Guarantors
 
Subsidiary
Non
Guarantors
 
Eliminations
 
Consolidated
Assets
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
297.3

 
$
98.3

 
$
270.5

 
$
—

 
$
666.1

Accounts receivable, net
—

 
353.2

 
284.6

 
—

 
637.8

Other receivables, net
16.1

 
59.1

 
31.9

 
—

 
107.1

Inventories, net
—

 
513.2

 
168.3

 
—

 
681.5

Other current assets, net
—

 
168.9

 
111.1

 
—

 
280.0

Intercompany accounts receivable
150.6

 
303.5

 
100.3

 
(554.4
)
 
—

Total current assets
464.0

 
1,496.2

 
966.7

 
(554.4
)
 
2,372.5

Properties, net
10.3

 
3,207.7

 
1,175.6

 
—

 
4,393.6

Goodwill
—

 
6,129.9

 
1,409.1

 
—

 
7,539.0

Other intangibles, net
3.5

 
11,515.1

 
1,786.5

 
—

 
13,305.1

Net investment in and advances to subsidiaries
20,890.1

 
8,104.6

 
4,228.2

 
(33,222.9
)
 
—

Other assets
151.2

 
363.2

 
395.0

 
(58.5
)
 
850.9

Total assets
$
21,519.1

 
$
30,816.7

 
$
9,961.1

 
$
(33,835.8
)
 
$
28,461.1

Liabilities and equity
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
Accounts payable and other current liabilities
$
114.7

 
$
1,662.8

 
$
780.9

 
$
—

 
$
2,558.4

Current portion of long-term debt and short-term borrowings
1,025.5

 
386.1

 
33.4

 
—

 
1,445.0

Intercompany accounts payable
123.8

 
201.4

 
229.2

 
(554.4
)
 
—

Total current liabilities
1,264.0

 
2,250.3

 
1,043.5

 
(554.4
)
 
4,003.4

Long-term debt
7,236.5

 
720.8

 
74.8

 
—

 
8,032.1

Pension and postretirement benefits
7.4

 
673.1

 
13.4

 
—

 
693.9

Deferred tax liabilities
—

 
1,529.3

 
713.4

 
(58.5
)
 
2,184.2

Other liabilities
325.7

 
185.8

 
90.0

 
—

 
601.5

Intercompany notes payable
—

 
3,555.7

 
3,590.1

 
(7,145.8
)
 
—

Total liabilities
8,833.6

 
8,915.0

 
5,525.2

 
(7,758.7
)
 
15,515.1

MCBC stockholders' equity
12,686.6

 
25,490.7

 
7,732.2

 
(33,222.9
)
 
12,686.6

Intercompany notes receivable
(1.1
)
 
(3,589.0
)
 
(3,555.7
)
 
7,145.8

 
—

Total stockholders' equity
12,685.5

 
21,901.7

 
4,176.5

 
(26,077.1
)
 
12,686.6

Noncontrolling interests
—

 
—

 
259.4

 
—

 
259.4

Total equity
12,685.5

 
21,901.7

 
4,435.9

 
(26,077.1
)
 
12,946.0

Total liabilities and equity
$
21,519.1

 
$
30,816.7

 
$
9,961.1

 
$
(33,835.8
)
 
$
28,461.1


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

 
As of
 
December 31, 2019
 
Parent
Issuer
 
Subsidiary
Guarantors
 
Subsidiary
Non
Guarantors
 
Eliminations
 
Consolidated
Assets
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
15.7

 
$
119.6

 
$
388.1

 
$
—

 
$
523.4

Accounts receivable, net
—

 
396.3

 
318.5

 
—

 
714.8

Other receivables, net
14.4

 
58.4

 
32.7

 
—

 
105.5

Inventories, net
—

 
449.1

 
166.8

 
—

 
615.9

Other current assets, net
3.0

 
126.0

 
95.8

 
—

 
224.8

Intercompany accounts receivable
94.1

 
190.0

 
14.9

 
(299.0
)
 
—

Total current assets
127.2

 
1,339.4

 
1,016.8

 
(299.0
)
 
2,184.4

Properties, net
19.8

 
3,294.7

 
1,232.0

 
—

 
4,546.5

Goodwill
—

 
6,146.5

 
1,484.9

 
—

 
7,631.4

Other intangibles, net
4.0

 
11,750.6

 
1,901.4

 
—

 
13,656.0

Net investment in and advances to subsidiaries
21,200.6

 
8,364.9

 
4,497.9

 
(34,063.4
)
 
—

Other assets
137.2

 
364.4

 
417.9

 
(78.0
)
 
841.5

Total assets
$
21,488.8

 
$
31,260.5

 
$
10,550.9

 
$
(34,440.4
)
 
$
28,859.8

Liabilities and equity
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
Accounts payable and other current liabilities
$
170.7

 
$
1,722.0

 
$
874.6

 
$
—

 
$
2,767.3

Current portion of long-term debt and short-term borrowings
499.7

 
415.1

 
13.4

 
—

 
928.2

Intercompany accounts payable
—

 
150.7

 
148.3

 
(299.0
)
 
—

Total current liabilities
670.4

 
2,287.8

 
1,036.3

 
(299.0
)
 
3,695.5

Long-term debt
7,250.3

 
779.1

 
80.1

 
—

 
8,109.5

Pension and postretirement benefits
7.2

 
695.5

 
13.9

 
—

 
716.6

Deferred tax liabilities
—

 
1,593.3

 
743.3

 
(78.0
)
 
2,258.6

Other liabilities
142.6

 
172.2

 
91.7

 
—

 
406.5

Intercompany notes payable
—

 
—

 
65.0

 
(65.0
)
 
—

Total liabilities
8,070.5

 
5,527.9

 
2,030.3

 
(442.0
)
 
15,186.7

MCBC stockholders' equity
13,419.4

 
25,796.5

 
8,266.9

 
(34,063.4
)
 
13,419.4

Intercompany notes receivable
(1.1
)
 
(63.9
)
 
—

 
65.0

 
—

Total stockholders' equity
13,418.3

 
25,732.6

 
8,266.9

 
(33,998.4
)
 
13,419.4

Noncontrolling interests
—

 
—

 
253.7

 
—

 
253.7

Total equity
13,418.3

 
25,732.6

 
8,520.6

 
(33,998.4
)
 
13,673.1

Total liabilities and equity
$
21,488.8

 
$
31,260.5

 
$
10,550.9

 
$
(34,440.4
)
 
$
28,859.8
Statement of Cash Flows [Member]  
Schedule of Supplemental Guarantor Information
MOLSON COORS BEVERAGE COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
(IN MILLIONS)
(UNAUDITED)

 
Three Months Ended
 
March 31, 2020
 
Parent
Issuer
 
Subsidiary
Guarantors
 
Subsidiary
Non
Guarantors
 
Eliminations
 
Consolidated
Net cash provided by (used in) operating activities
$
(60.8
)
 
$
145.8

 
$
(103.1
)
 
$
—

 
$
(18.1
)
CASH FLOWS FROM INVESTING ACTIVITIES:
 
 
 
 
 
 
 
 
 
Additions to properties
(4.0
)
 
(170.1
)
 
(51.0
)
 
—

 
(225.1
)
Proceeds from sales of properties and other assets
—

 
0.5

 
1.1

 
—

 
1.6

Other
3.2

 
0.1

 
0.2

 
—

 
3.5

Net intercompany investing activity
(72.0
)
 
(3,617.1
)
 
(3,587.7
)
 
7,276.8

 
—

Net cash provided by (used in) investing activities
(72.8
)
 
(3,786.6
)
 
(3,637.4
)
 
7,276.8

 
(220.0
)
CASH FLOWS FROM FINANCING ACTIVITIES:
 
 
 
 
 
 
 
 
 
Exercise of stock options under equity compensation plans
4.0

 
—

 
—

 
—

 
4.0

Dividends paid
(113.4
)
 
—

 
(10.0
)
 
—

 
(123.4
)
Payments on debt and borrowings
(500.0
)
 
(0.1
)
 
(2.8
)
 
—

 
(502.9
)
Proceeds on debt and borrowings
—

 
—

 
1.0

 
—

 
1.0

Net proceeds from (payments on) revolving credit facilities and commercial paper
1,025.5

 
—

 
—

 
—

 
1,025.5

Change in overdraft balances and other
(0.9
)
 
(34.3
)
 
29.7

 
—

 
(5.5
)
Net intercompany financing activity
—

 
3,659.7

 
3,617.1

 
(7,276.8
)
 
—

Net cash provided by (used in) financing activities
415.2

 
3,625.3

 
3,635.0

 
(7,276.8
)
 
398.7

CASH AND CASH EQUIVALENTS:
 
 
 
 
 
 
 
 
 
Net increase (decrease) in cash and cash equivalents
281.6

 
(15.5
)
 
(105.5
)
 
—

 
160.6

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

 
(5.8
)
 
(12.1
)
 
—

 
(17.9
)
Balance at beginning of year
15.7

 
119.6

 
388.1

 
—

 
523.4

Balance at end of period
$
297.3

 
$
98.3

 
$
270.5

 
$
—

 
$
666.1


MOLSON COORS BEVERAGE COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
(IN MILLIONS)
(UNAUDITED)
 
Three Months Ended
 
March 31, 2019
 
Parent
Issuer
 
Subsidiary
Guarantors
 
Subsidiary
Non
Guarantors
 
Eliminations
 
Consolidated
Net cash provided by (used in) operating activities
$
32.6

 
$
70.2

 
$
(171.8
)
 
$
(29.5
)
 
$
(98.5
)
CASH FLOWS FROM INVESTING ACTIVITIES:
 
 
 
 
 
 
 
 
 
Additions to properties
(2.6
)
 
(127.7
)
 
(67.7
)
 
—

 
(198.0
)
Proceeds from sales of properties and other assets
—

 
1.4

 
1.0

 
—

 
2.4

Other
—

 
(0.3
)
 
1.3

 
—

 
1.0

Net intercompany investing activity
9.4

 
4.1

 
35.8

 
(49.3
)
 
—

Net cash provided by (used in) investing activities
6.8

 
(122.5
)
 
(29.6
)
 
(49.3
)
 
(194.6
)
CASH FLOWS FROM FINANCING ACTIVITIES:
 

 
 

 
 

 
 

 
 

Exercise of stock options under equity compensation plans
0.6

 
—

 
—

 
—

 
0.6

Dividends paid
(81.4
)
 
(29.5
)
 
(7.3
)
 
29.5

 
(88.7
)
Payments on debt and borrowings
(1,066.3
)
 
(0.1
)
 
(0.8
)
 
—

 
(1,067.2
)
Net proceeds from (payments on) revolving credit facilities and commercial paper
603.4

 
—

 
0.9

 
—

 
604.3

Change in overdraft balances and other
(2.8
)
 
(4.7
)
 
23.7

 
—

 
16.2

Net intercompany financing activity
—

 
(46.2
)
 
(3.1
)
 
49.3

 
—

Net cash provided by (used in) financing activities
(546.5
)
 
(80.5
)
 
13.4

 
78.8

 
(534.8
)
CASH AND CASH EQUIVALENTS:
 
 
 
 
 
 
 
 
 
Net increase (decrease) in cash and cash equivalents
(507.1
)
 
(132.8
)
 
(188.0
)
 
—

 
(827.9
)
Effect of foreign exchange rate changes on cash and cash equivalents
3.0

 
3.2

 
(1.8
)
 
—

 
4.4

Balance at beginning of year
515.8

 
156.1

 
386.0

 
—

 
1,057.9

Balance at end of period
$
11.7

 
$
26.5

 
$
196.2

 
$
—

 
$
234.4