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Supplemental Guarantor Information
 12 Months Ended
Dec. 31, 2015
Supplemental Guarantor Information [Abstract]  
Supplemental Guarantor Information
Supplemental Guarantor Information
        For purposes of this Note 19, "Parent Guarantor and 2012 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, $500 million 3.5% senior notes due 2022, and $1.1 billion 5.0% senior notes due 2042. 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 Guarantor. The guarantees are full and unconditional and joint and several. See Note 12, "Debt" for further discussion.
Other Debt
On September 22, 2005, Molson Coors Capital Finance ULC ("MC Capital Finance") issued $1.1 billion of senior notes consisting of $300 million 4.85% U.S. publicly registered notes due 2010 and CAD 900 million 5.0% privately placed notes maturing on September 22, 2015. These CAD 900 million senior notes were subsequently exchanged for substantially identical CAD 900 million senior notes which were quantified by way of a prospectus in Canada. In connection with an internal corporate reorganization, Molson Coors International LP ("MCI LP") was subsequently added as a co-issuer of the CAD 900 million senior notes in 2007. The $300 million senior notes were repaid in 2010. The CAD 900 million notes due September 22, 2015 were fully repaid using the proceeds from the issuance on September 18, 2015 of privately placed CAD 500 million 2.75% notes due 2020, and privately placed CAD 400 million 2.25% notes due 2018. Both offerings are guaranteed by MCBC, and certain of our U.S. and Canadian subsidiaries. Subsequent to settlement of the notes due on September 22, 2015, and local regulatory approval, MC Capital Finance ceased to be a reporting issuer in all the applicable provinces of Canada.
None of our other outstanding debt is publicly registered, and it is all guaranteed on a senior and unsecured basis by the Parent Guarantor and certain Subsidiary Guarantors. These guarantees are full and unconditional and joint and several. See Note 12, "Debt" for details of all debt issued and outstanding as of December 31, 2015.
Presentation
We have recast our presentation of the guarantor financial information to reflect the release of Molson Coors Brewing Company (UK) Limited, our primary UK operating entity, Golden Acquisition and Molson Coors Holdings Limited as subsidiary guarantors of our debt obligations, evidenced by the supplemental indentures dated May 13, 2016.
The following information sets forth the condensed consolidating statements of operations for the years ended December 31, 2015, December 31, 2014, and December 31, 2013, condensed consolidating balance sheets as of December 31, 2015, and December 31, 2014, and condensed consolidating statements of cash flows for the years ended December 31, 2015, December 31, 2014, and December 31, 2013. Investments in subsidiaries are accounted for under the equity method; accordingly, entries necessary to consolidate the Parent Guarantor 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.
Historical balance sheet amounts have been adjusted to reflect the adoption of the authoritative guidance requiring debt issuance costs to be presented as a direct reduction from the carrying value of the related debt. See Note 2, "New Accounting Pronouncements" for further discussion.
MOLSON COORS BREWING COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2015
(IN MILLIONS)
AS RECAST FOR CHANGE IN GUARANTORS
 
Parent
Guarantor and
2012 Issuer
 
Subsidiary
Guarantors
 
Subsidiary
Non
Guarantors
 
Eliminations
 
Consolidated
Sales
$
28.2

 
$
2,070.4

 
$
3,141.3

 
$
(112.5
)
 
$
5,127.4

Excise taxes
—

 
(473.9
)
 
(1,086.0
)
 
—

 
(1,559.9
)
Net sales
28.2

 
1,596.5

 
2,055.3

 
(112.5
)
 
3,567.5

Cost of goods sold
—

 
(902.9
)
 
(1,340.8
)
 
80.2

 
(2,163.5
)
Gross profit
28.2

 
693.6

 
714.5

 
(32.3
)
 
1,404.0

Marketing, general and administrative expenses
(131.0
)
 
(371.9
)
 
(581.2
)
 
32.3

 
(1,051.8
)
Special items, net
—

 
(27.2
)
 
(319.5
)
 
—

 
(346.7
)
Equity income (loss) in subsidiaries
432.8

 
(449.8
)
 
183.4

 
(166.4
)
 
—

Equity income in MillerCoors
—

 
516.3

 
—

 
—

 
516.3

Operating income (loss)
330.0

 
361.0

 
(2.8
)
 
(166.4
)
 
521.8

Interest income (expense), net
(67.5
)
 
290.1

 
(334.6
)
 
—

 
(112.0
)
Other income (expense), net
(7.4
)
 
6.3

 
2.0

 
—

 
0.9

Income (loss) from continuing operations before income taxes
255.1

 
657.4

 
(335.4
)
 
(166.4
)
 
410.7

Income tax benefit (expense)
104.4

 
(214.5
)
 
58.3

 
—

 
(51.8
)
Net income (loss) from continuing operations
359.5

 
442.9

 
(277.1
)
 
(166.4
)
 
358.9

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

 
—

 
3.9

 
—

 
3.9

Net income (loss) including noncontrolling interests
359.5

 
442.9

 
(273.2
)
 
(166.4
)
 
362.8

Net (income) loss attributable to noncontrolling interests
—

 
—

 
(3.3
)
 
—

 
(3.3
)
Net income (loss) attributable to MCBC
$
359.5

 
$
442.9

 
$
(276.5
)
 
$
(166.4
)
 
$
359.5

Comprehensive income (loss) attributable to MCBC
$
(437.0
)
 
$
(294.5
)
 
$
(450.6
)
 
$
745.1

 
$
(437.0
)

MOLSON COORS BREWING COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2014
(IN MILLIONS)
AS RECAST FOR CHANGE IN GUARANTORS
 
Parent
Guarantor and
2012 Issuer
 
Subsidiary
Guarantors
 
Subsidiary
Non
Guarantors
 
Eliminations
 
Consolidated
Sales
$
16.8

 
$
2,437.3

 
$
3,585.5

 
$
(112.1
)
 
$
5,927.5

Excise taxes
—

 
(558.0
)
 
(1,223.2
)
 
—

 
(1,781.2
)
Net sales
16.8

 
1,879.3

 
2,362.3

 
(112.1
)
 
4,146.3

Cost of goods sold
—

 
(1,044.7
)
 
(1,540.4
)
 
91.8

 
(2,493.3
)
Gross profit
16.8

 
834.6

 
821.9

 
(20.3
)
 
1,653.0

Marketing, general and administrative expenses
(123.8
)
 
(426.4
)
 
(634.0
)
 
20.3

 
(1,163.9
)
Special items, net
(0.3
)
 
(21.4
)
 
(302.7
)
 
—

 
(324.4
)
Equity income (loss) in subsidiaries
602.3

 
(287.3
)
 
227.1

 
(542.1
)
 
—

Equity income in MillerCoors
—

 
561.8

 
—

 
—

 
561.8

Operating income (loss)
495.0

 
661.3

 
112.3

 
(542.1
)
 
726.5

Interest income (expense), net
(78.9
)
 
240.3

 
(295.1
)
 
—

 
(133.7
)
Other income (expense), net
(2.1
)
 
(1.2
)
 
(3.2
)
 
—

 
(6.5
)
Income (loss) from continuing operations before income taxes
414.0

 
900.4

 
(186.0
)
 
(542.1
)
 
586.3

Income tax benefit (expense)
100.0

 
(158.9
)
 
(10.1
)
 
—

 
(69.0
)
Net income (loss) from continuing operations
514.0

 
741.5

 
(196.1
)
 
(542.1
)
 
517.3

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

 
—

 
0.5

 
—

 
0.5

Net income (loss) including noncontrolling interests
514.0

 
741.5

 
(195.6
)
 
(542.1
)
 
517.8

Net (income) loss attributable to noncontrolling interests
—

 
—

 
(3.8
)
 
—

 
(3.8
)
Net income (loss) attributable to MCBC
$
514.0

 
$
741.5

 
$
(199.4
)
 
$
(542.1
)
 
$
514.0

Comprehensive income (loss) attributable to MCBC
$
(539.3
)
 
$
(162.7
)
 
$
(786.1
)
 
$
948.8

 
$
(539.3
)

MOLSON COORS BREWING COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2013
(IN MILLIONS)
AS RECAST FOR CHANGE IN GUARANTORS
 
Parent
Guarantor and
2012 Issuer
 
Subsidiary
Guarantors
 
Subsidiary
Non
Guarantors
 
Eliminations
 
Consolidated
Sales
$
27.5

 
$
2,685.1

 
$
3,458.9

 
$
(171.9
)
 
$
5,999.6

Excise taxes
—

 
(619.9
)
 
(1,173.6
)
 
—

 
(1,793.5
)
Net sales
27.5

 
2,065.2

 
2,285.3

 
(171.9
)
 
4,206.1

Cost of goods sold
—

 
(1,121.4
)
 
(1,564.1
)
 
139.9

 
(2,545.6
)
Gross profit
27.5

 
943.8

 
721.2

 
(32.0
)
 
1,660.5

Marketing, general and administrative expenses
(117.4
)
 
(464.5
)
 
(643.9
)
 
32.0

 
(1,193.8
)
Special items, net
(2.8
)
 
(30.7
)
 
(166.5
)
 
—

 
(200.0
)
Equity income (loss) in subsidiaries
668.5

 
(375.1
)
 
251.4

 
(544.8
)
 
—

Equity income in MillerCoors
—

 
539.0

 
—

 
—

 
539.0

Operating income (loss)
575.8

 
612.5

 
162.2

 
(544.8
)
 
805.7

Interest income (expense), net
(99.5
)
 
374.0

 
(444.6
)
 
—

 
(170.1
)
Other income (expense), net
(4.4
)
 
27.0

 
(3.7
)
 
—

 
18.9

Income (loss) from continuing operations before income taxes
471.9

 
1,013.5

 
(286.1
)
 
(544.8
)
 
654.5

Income tax benefit (expense)
95.4

 
(232.7
)
 
53.3

 
—

 
(84.0
)
Net income (loss) from continuing operations
567.3

 
780.8

 
(232.8
)
 
(544.8
)
 
570.5

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

 
—

 
2.0

 
—

 
2.0

Net income (loss) including noncontrolling interests
567.3

 
780.8

 
(230.8
)
 
(544.8
)
 
572.5

Net (income) loss attributable to noncontrolling interests
—

 
—

 
(5.2
)
 
—

 
(5.2
)
Net income (loss) attributable to MCBC
$
567.3

 
$
780.8

 
$
(236.0
)
 
$
(544.8
)
 
$
567.3

Comprehensive income (loss) attributable to MCBC
$
760.2

 
$
1,033.7

 
$
134.9

 
$
(1,168.6
)
 
$
760.2

MOLSON COORS BREWING COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING BALANCE SHEETS
AS OF DECEMBER 31, 2015
(IN MILLIONS)
AS RECAST FOR CHANGE IN GUARANTORS
 
Parent
Guarantor and
2012 Issuer
 
Subsidiary
Guarantors
 
Subsidiary
Non
Guarantors
 
Eliminations
 
Consolidated
Assets
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
146.4

 
$
106.2

 
$
178.3

 
$
—

 
$
430.9

Accounts receivable, net
—

 
120.4

 
304.3

 
—

 
424.7

Other receivables, net
8.7

 
33.5

 
59.0

 
—

 
101.2

Total inventories
—

 
61.6

 
117.7

 
—

 
179.3

Other current assets, net
45.6

 
22.4

 
54.7

 
—

 
122.7

Intercompany accounts receivable
—

 
3,796.7

 
5.5

 
(3,802.2
)
 
—

Total current assets
200.7

 
4,140.8

 
719.5

 
(3,802.2
)
 
1,258.8

Properties, net
20.4

 
578.7

 
991.7

 
—

 
1,590.8

Goodwill
—

 
225.3

 
1,758.0

 
—

 
1,983.3

Other intangibles, net
—

 
2,954.2

 
1,791.5

 
—

 
4,745.7

Investment in MillerCoors
—

 
2,441.0

 
—

 
—

 
2,441.0

Net investment in and advances to subsidiaries
12,394.3

 
3,459.1

 
4,765.1

 
(20,618.5
)
 
—

Deferred tax assets
37.7

 
—

 
0.1

 
(17.6
)
 
20.2

Other assets, net
14.0

 
115.4

 
107.1

 
—

 
236.5

Total assets
$
12,667.1

 
$
13,914.5

 
$
10,133.0

 
$
(24,438.3
)
 
$
12,276.3

Liabilities and equity
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
Accounts payable and other current liabilities
$
72.7

 
$
332.0

 
$
779.7

 
$
—

 
$
1,184.4

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

 
—

 
28.7

 
—

 
28.7

Discontinued operations
—

 
—

 
4.1

 
—

 
4.1

Intercompany accounts payable
3,652.6

 
70.6

 
79.0

 
(3,802.2
)
 
—

Total current liabilities
3,725.3

 
402.6

 
891.5

 
(3,802.2
)
 
1,217.2

Long-term debt
1,902.1

 
1,006.6

 
—

 
—

 
2,908.7

Pension and postretirement benefits
3.3

 
184.3

 
14.3

 
—

 
201.9

Deferred tax liabilities
—

 
215.7

 
601.7

 
(17.6
)
 
799.8

Other liabilities
6.5

 
25.1

 
43.7

 
—

 
75.3

Discontinued operations
—

 
—

 
10.3

 
—

 
10.3

Intercompany notes payable
—

 
0.5

 
4,758.8

 
(4,759.3
)
 
—

Total liabilities
5,637.2

 
1,834.8

 
6,320.3

 
(8,579.1
)
 
5,213.2

MCBC stockholders' equity
7,031.0

 
16,837.4

 
3,793.1

 
(20,618.5
)
 
7,043.0

Intercompany notes receivable
(1.1
)
 
(4,757.7
)
 
(0.5
)
 
4,759.3

 
—

Total stockholders' equity
7,029.9

 
12,079.7

 
3,792.6

 
(15,859.2
)
 
7,043.0

Noncontrolling interests
—

 
—

 
20.1

 
—

 
20.1

Total equity
7,029.9

 
12,079.7

 
3,812.7

 
(15,859.2
)
 
7,063.1

Total liabilities and equity
$
12,667.1

 
$
13,914.5

 
$
10,133.0

 
$
(24,438.3
)
 
$
12,276.3

MOLSON COORS BREWING COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING BALANCE SHEETS
AS OF DECEMBER 31, 2014
(IN MILLIONS)
AS RECAST FOR CHANGE IN GUARANTORS
 
Parent
Guarantor and
2012 Issuer
 
Subsidiary
Guarantors
 
Subsidiary
Non Guarantors
 
Eliminations
 
Consolidated
Assets
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
40.9

 
$
173.2

 
$
410.5

 
$
—

 
$
624.6

Accounts receivable, net
2.3

 
153.8

 
371.6

 
—

 
527.7

Other receivables, net
17.4

 
32.0

 
44.6

 
—

 
94.0

Total inventories
—

 
71.5

 
130.7

 
—

 
202.2

Other current assets, net
5.6

 
30.8

 
65.0

 
—

 
101.4

Deferred tax assets
2.2

 
—

 
31.6

 
(6.6
)
 
27.2

Intercompany accounts receivable
—

 
3,190.4

 
—

 
(3,190.4
)
 
—

Total current assets
68.4

 
3,651.7

 
1,054.0

 
(3,197.0
)
 
1,577.1

Properties, net
26.9

 
718.5

 
1,052.6

 
—

 
1,798.0

Goodwill
—

 
268.4

 
1,923.2

 
—

 
2,191.6

Other intangibles, net
—

 
3,536.9

 
2,218.9

 
—

 
5,755.8

Investment in MillerCoors
—

 
2,388.6

 
—

 
—

 
2,388.6

Net investment in and advances to subsidiaries
12,582.8

 
3,108.4

 
5,384.6

 
(21,075.8
)
 
—

Deferred tax assets
21.3

 
13.1

 
1.2

 
22.6

 
58.2

Other assets, net
17.8

 
104.6

 
88.4

 
—

 
210.8

Total assets
$
12,717.2

 
$
13,790.2

 
$
11,722.9

 
$
(24,250.2
)
 
$
13,980.1

Liabilities and equity
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
Accounts payable and other current liabilities
$
61.9

 
$
372.5

 
$
870.6

 
$
—

 
$
1,305.0

Deferred tax liabilities
—

 
171.4

 
—

 
(6.6
)
 
164.8

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

 
773.8

 
75.2

 
—

 
849.0

Discontinued operations
—

 
—

 
6.1

 
—

 
6.1

Intercompany accounts payable
2,881.1

 
83.8

 
225.5

 
(3,190.4
)
 
—

Total current liabilities
2,943.0

 
1,401.5

 
1,177.4

 
(3,197.0
)
 
2,324.9

Long-term debt
1,892.6

 
428.7

 
—

 
—

 
2,321.3

Pension and postretirement benefits
2.9

 
239.6

 
300.4

 
—

 
542.9

Deferred tax liabilities
—

 
—

 
761.7

 
22.6

 
784.3

Other liabilities
16.6

 
42.5

 
46.0

 
—

 
105.1

Discontinued operations
—

 
—

 
15.5

 
—

 
15.5

Intercompany notes payable
—

 
324.0

 
5,663.9

 
(5,987.9
)
 
—

Total liabilities
4,855.1

 
2,436.3

 
7,964.9

 
(9,162.3
)
 
6,094.0

MCBC stockholders' equity
7,863.3

 
17,016.6

 
4,059.2

 
(21,075.8
)
 
7,863.3

Intercompany notes receivable
(1.2
)
 
(5,662.7
)
 
(324.0
)
 
5,987.9

 
—

Total stockholders' equity
7,862.1

 
11,353.9

 
3,735.2

 
(15,087.9
)
 
7,863.3

Noncontrolling interests
—

 
—

 
22.8

 
—

 
22.8

Total equity
7,862.1

 
11,353.9

 
3,758.0

 
(15,087.9
)
 
7,886.1

Total liabilities and equity
$
12,717.2

 
$
13,790.2

 
$
11,722.9

 
$
(24,250.2
)
 
$
13,980.1

MOLSON COORS BREWING COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2015
(IN MILLIONS)
AS RECAST FOR CHANGE IN GUARANTORS
 
Parent
Guarantor and
2012 Issuer
 
Subsidiary
Guarantors
 
Subsidiary
Non
Guarantors
 
Eliminations
 
Consolidated
Net cash provided by (used in) operating activities
$
578.6

 
$
691.8

 
$
(220.4
)
 
$
(353.6
)
 
$
696.4

CASH FLOWS FROM INVESTING ACTIVITIES:
 
 
 
 
 
 
 
 
 
Additions to properties
(13.9
)
 
(70.2
)
 
(190.9
)
 
—

 
(275.0
)
Proceeds from sales of properties and other assets
—

 
0.7

 
11.1

 
—

 
11.8

Acquisition of businesses, net of cash acquired
—

 
—

 
(91.2
)
 
—

 
(91.2
)
Proceeds from sale of business
—

 
—

 
8.7

 
—

 
8.7

Investment in MillerCoors
—

 
(1,442.7
)
 
—

 
—

 
(1,442.7
)
Return of capital from MillerCoors
—

 
1,441.1

 
—

 
—

 
1,441.1

Net intercompany investing activity
(56.3
)
 
(134.2
)
 
270.7

 
(80.2
)
 
—

Other
33.4

 
(10.7
)
 
(10.1
)
 
—

 
12.6

Net cash provided by (used in) investing activities
(36.8
)
 
(216.0
)
 
(1.7
)
 
(80.2
)
 
(334.7
)
CASH FLOWS FROM FINANCING ACTIVITIES:
 
 
 
 
 
 
 
 
 
Exercise of stock options under equity compensation plans
34.6

 
—

 
—

 
—

 
34.6

Excess tax benefits from share-based compensation
10.0

 
—

 
—

 
—

 
10.0

Dividends paid
(271.7
)
 
(306.5
)
 
(78.8
)
 
353.6

 
(303.4
)
Payments for purchase of treasury stock
(150.1
)
 
—

 
—

 
—

 
(150.1
)
Payments on debt and borrowings
—

 
(676.4
)
 
(25.0
)
 
—

 
(701.4
)
Proceeds on debt and borrowings
—

 
679.9

 
23.4

 
—

 
703.3

Debt issuance costs
(58.3
)
 
(3.5
)
 
—

 
—

 
(61.8
)
Net proceeds from (payments on) revolving credit facilities and commercial paper
—

 
—

 
3.9

 
—

 
3.9

Change in overdraft balances and other
(0.8
)
 
(0.5
)
 
(45.8
)
 
—

 
(47.1
)
Net intercompany financing activity
—

 
(214.4
)
 
134.2

 
80.2

 
—

Net cash provided by (used in) financing activities
(436.3
)
 
(521.4
)
 
11.9

 
433.8

 
(512.0
)
CASH AND CASH EQUIVALENTS:
 
 
 
 
 
 
 
 
 
Net increase (decrease) in cash and cash equivalents
105.5

 
(45.6
)
 
(210.2
)
 
—

 
(150.3
)
Effect of foreign exchange rate changes on cash and cash equivalents
—

 
(21.4
)
 
(22.0
)
 
—

 
(43.4
)
Balance at beginning of year
40.9

 
173.2

 
410.5

 
—

 
624.6

Balance at end of period
$
146.4

 
$
106.2

 
$
178.3

 
$
—

 
$
430.9

MOLSON COORS BREWING COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2014
(IN MILLIONS)
AS RECAST FOR CHANGE IN GUARANTORS
 
Parent
Guarantor and
2012 Issuer
 
Subsidiary
Guarantors
 
Subsidiary
Non
Guarantors
 
Eliminations
 
Consolidated
Net cash provided by (used in) operating activities
$
572.0

 
$
216.5

 
$
604.5

 
$
(120.4
)
 
$
1,272.6

CASH FLOWS FROM INVESTING ACTIVITIES:
 
 
 
 
 
 
 
 
 
Additions to properties
(11.9
)
 
(70.8
)
 
(176.8
)
 
—

 
(259.5
)
Proceeds from sales of properties and other assets
—

 
1.4

 
7.4

 
—

 
8.8

Investment in MillerCoors
—

 
(1,388.1
)
 
—

 
—

 
(1,388.1
)
Return of capital from MillerCoors
—

 
1,382.5

 
—

 
—

 
1,382.5

Net intercompany investing activity
(37.4
)
 
279.3

 
280.4

 
(522.3
)
 
—

Other
—

 
10.0

 
6.9

 
—

 
16.9

Net cash provided by (used in) investing activities
(49.3
)
 
214.3

 
117.9

 
(522.3
)
 
(239.4
)
CASH FLOWS FROM FINANCING ACTIVITIES:
 
 
 
 
 
 
 
 
 
Exercise of stock options under equity compensation plans
44.4

 
—

 
—

 
—

 
44.4

Excess tax benefits from share-based compensation
8.2

 
—

 
—

 
—

 
8.2

Dividends paid
(242.5
)
 
(48.1
)
 
(103.4
)
 
120.4

 
(273.6
)
Payments on debt and borrowings
(1.1
)
 
(61.7
)
 
(11.6
)
 
—

 
(74.4
)
Proceeds on debt and borrowings
—

 
—

 
4.8

 
—

 
4.8

Debt issuance costs
(1.8
)
 
—

 
(0.1
)
 
—

 
(1.9
)
Payments on settlement of derivative instruments
—

 
(65.2
)
 
—

 
—

 
(65.2
)
Net proceeds from (payments on) revolving credit facilities and commercial paper
(379.6
)
 
—

 
(134.3
)
 
—

 
(513.9
)
Change in overdraft balances and other
—

 
—

 
69.6

 
—

 
69.6

Net intercompany financing activity
—

 
(241.2
)
 
(281.1
)
 
522.3

 
—

Net cash provided by (used in) financing activities
(572.4
)
 
(416.2
)
 
(456.1
)
 
642.7

 
(802.0
)
CASH AND CASH EQUIVALENTS:
 
 
 
 
 
 
 
 
 
Net increase (decrease) in cash and cash equivalents
(49.7
)
 
14.6

 
266.3

 
—

 
231.2

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

 
(18.5
)
 
(30.4
)
 
—

 
(48.9
)
Balance at beginning of year
90.6

 
177.1

 
174.6

 
—

 
442.3

Balance at end of period
$
40.9

 
$
173.2

 
$
410.5

 
$
—

 
$
624.6

MOLSON COORS BREWING COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2013
(IN MILLIONS)
AS RECAST FOR CHANGE IN GUARANTORS
 
Parent
Guarantor and
2012 Issuer
 
Subsidiary
Guarantors
 
Subsidiary
Non
Guarantors
 
Eliminations
 
Consolidated
Net cash provided by (used in) operating activities
$
660.9

 
$
392.2

 
$
698.9

 
$
(583.8
)
 
$
1,168.2

CASH FLOWS FROM INVESTING ACTIVITIES:
 
 
 
 
 
 
 
 
 
Additions to properties
(11.7
)
 
(70.7
)
 
(211.5
)
 
—

 
(293.9
)
Proceeds from sales of properties and other assets
—

 
33.0

 
20.6

 
—

 
53.6

Investment in MillerCoors
—

 
(1,186.5
)
 
—

 
—

 
(1,186.5
)
Return of capital from MillerCoors
—

 
1,146.0

 
—

 
—

 
1,146.0

Net intercompany investing activity
(446.4
)
 
121.5

 
(72.9
)
 
397.8

 
—

Other
—

 
—

 
3.8

 
—

 
3.8

Net cash provided by (used in) investing activities
(458.1
)
 
43.3

 
(260.0
)
 
397.8

 
(277.0
)
CASH FLOWS FROM FINANCING ACTIVITIES:
 
 
 
 
 
 
 
 
 
Exercise of stock options under equity compensation plans
88.8

 
—

 
—

 
—

 
88.8

Excess tax benefits from share-based compensation
7.7

 
—

 
—

 
—

 
7.7

Dividends paid
(206.5
)
 
(142.7
)
 
(469.2
)
 
583.8

 
(234.6
)
Payments on debt and borrowings
(578.0
)
 
(615.1
)
 
(139.1
)
 
—

 
(1,332.2
)
Proceeds from debt and borrowings
—

 
—

 
15.0

 
—

 
15.0

Debt issuance costs
(0.2
)
 
—

 
(0.2
)
 
—

 
(0.4
)
Payments on settlement of derivative instruments
—

 
(119.4
)
 
—

 
—

 
(119.4
)
Net proceeds from (payments on) revolving credit facilities and commercial paper
379.6

 
—

 
127.8

 
—

 
507.4

Change in overdraft balances and other
6.6

 
(0.2
)
 
2.1

 
—

 
8.5

Net intercompany financing activity
—

 
519.3

 
(121.5
)
 
(397.8
)
 
—

Net cash provided by (used in) financing activities
(302.0
)
 
(358.1
)
 
(585.1
)
 
186.0

 
(1,059.2
)
CASH AND CASH EQUIVALENTS:
 
 
 
 
 
 
 
 
 
Net increase (decrease) in cash and cash equivalents
(99.2
)
 
77.4

 
(146.2
)
 
—

 
(168.0
)
Effect of foreign exchange rate changes on cash and cash equivalents
—

 
(10.9
)
 
(2.8
)
 
—

 
(13.7
)
Balance at beginning of year
189.8

 
110.6

 
323.6

 
—

 
624.0

Balance at end of period
$
90.6

 
$
177.1

 
$
174.6

 
$
—

 
$
442.3