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Supplemental Guarantor Information
 9 Months Ended
Sep. 30, 2020
Supplemental Guarantor Information [Abstract]  
Supplemental Guarantor Information Supplemental Guarantor Information
For purposes of this Note 14, including the tables, "Parent Issuer" shall mean MCBC. "Subsidiary Guarantors" shall mean certain Canadian and U.S. subsidiaries reflecting the substantial operations of our North America segment.
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 (subsequently repaid in the second quarter of 2017), $500 million 3.5% senior notes due 2022, and $1.1 billion 5.0% senior notes due 2042. Additionally, on July 7, 2016, MCBC issued $500 million 1.45% senior notes due 2019 (subsequently repaid in the third quarter of 2019), $1.0 billion 2.10% senior notes due 2021, $2.0 billion 3.0% senior notes due 2026, $1.8 billion 4.2% senior notes due 2046 and EUR $800.0 million 1.25% senior notes due 2024, in a registered public offering. "Parent Issuer" in the below tables is specifically referring to MCBC in its capacity as the issuer of these 2012 and 2016 issuances. 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 Issuer. The guarantees are full and unconditional and joint and several.
None of our other outstanding debt is registered with the SEC, and such other outstanding debt is guaranteed on a senior unsecured basis by the Parent and/or Subsidiary Guarantors. These guarantees are full and unconditional and joint and several. See Note 8, "Debt" for details of all debt issued and outstanding as of September 30, 2020.
Presentation
The following information sets forth the unaudited condensed consolidating statements of operations for the three and nine months ended September 30, 2020 and September 30, 2019, unaudited condensed consolidating balance sheets as of September 30, 2020 and December 31, 2019, and unaudited condensed consolidating statements of cash flows for the nine months ended September 30, 2020 and September 30, 2019. Investments in subsidiaries are accounted for under the equity method; accordingly, entries necessary to consolidate the Parent Issuer 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.
MOLSON COORS BEVERAGE COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
(IN MILLIONS)
(UNAUDITED)
Three Months Ended
September 30, 2020
Parent
Issuer		Subsidiary
Guarantors		Subsidiary
Non
Guarantors		EliminationsConsolidated
Sales$4.4 $2,588.2 $929.3 $(143.5)$3,378.4 
Excise taxes— (354.1)(270.8)— (624.9)
Net sales4.4 2,234.1 658.5 (143.5)2,753.5 
Cost of goods sold(0.5)(1,241.4)(446.1)137.0 (1,551.0)
Gross profit3.9 992.7 212.4 (6.5)1,202.5 
Marketing, general and administrative expenses
(22.2)(479.2)(139.6)6.5 (634.5)
Special items, net(1.4)(27.8)(30.5)— (59.7)
Equity income (loss) in subsidiaries400.2 (6.7)52.3 (445.8)— 
Operating income (loss)380.5 479.0 94.6 (445.8)508.3 
Interest income (expense), net(59.3)23.2 (31.8)— (67.9)
Other pension and postretirement benefits (costs), net(0.1)5.1 2.6 — 7.6 
Other income (expense), net0.6 1.9 (0.1)— 2.4 
Income (loss) before income taxes
321.7 509.2 65.3 (445.8)450.4 
Income tax benefit (expense)21.1 (109.1)(16.0)— (104.0)
Net income (loss)
342.8 400.1 49.3 (445.8)346.4 
Net (income) loss attributable to noncontrolling interests— — (3.6)— (3.6)
Net income (loss) attributable to MCBC
$342.8 $400.1 $45.7 $(445.8)$342.8 
Comprehensive income (loss) attributable to MCBC$505.0 $581.2 $252.9 $(834.1)$505.0 
MOLSON COORS BEVERAGE COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
(IN MILLIONS)
(UNAUDITED)

Three Months Ended
September 30, 2019
Parent
Issuer		Subsidiary
Guarantors		Subsidiary
Non
Guarantors		EliminationsConsolidated
Sales$31.5 $2,631.6 $1,004.3 $(169.4)$3,498.0 
Excise taxes— (367.6)(288.8)— (656.4)
Net sales31.5 2,264.0 715.5 (169.4)2,841.6 
Cost of goods sold(2.0)(1,330.5)(477.5)124.6 (1,685.4)
Gross profit29.5 933.5 238.0 (44.8)1,156.2 
Marketing, general and administrative expenses
(45.0)(528.6)(161.4)44.8 (690.2)
Special items, net— (324.9)(378.4)— (703.3)
Equity income (loss) in subsidiaries(398.3)(320.3)(265.3)983.9 — 
Operating income (loss)(413.8)(240.3)(567.1)983.9 (237.3)
Interest income (expense), net(74.7)87.2 (78.1)— (65.6)
Other pension and postretirement benefits (costs), net— 1.2 6.8 — 8.0 
Other income (expense), net(0.4)(59.7)46.4 — (13.7)
Income (loss) before income taxes
(488.9)(211.6)(592.0)983.9 (308.6)
Income tax benefit (expense)86.1 (185.4)8.6 — (90.7)
Net income (loss)
(402.8)(397.0)(583.4)983.9 (399.3)
Net (income) loss attributable to noncontrolling interests— — (3.5)— (3.5)
Net income (loss) attributable to MCBC
$(402.8)$(397.0)$(586.9)$983.9 $(402.8)
Comprehensive income (loss) attributable to MCBC$(602.5)$(592.5)$(696.9)$1,289.4 $(602.5)
MOLSON COORS BEVERAGE COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
(IN MILLIONS)
(UNAUDITED)

Nine Months Ended
September 30, 2020
Parent
Issuer		Subsidiary
Guarantors		Subsidiary
Non
Guarantors		EliminationsConsolidated
Sales$10.1 $7,156.6 $2,174.3 $(395.0)$8,946.0 
Excise taxes— (964.1)(622.2)— (1,586.3)
Net sales10.1 6,192.5 1,552.1 (395.0)7,359.7 
Cost of goods sold(1.4)(3,696.9)(1,165.4)377.1 (4,486.6)
Gross profit8.7 2,495.6 386.7 (17.9)2,873.1 
Marketing, general and administrative expenses
(85.3)(1,304.5)(416.8)17.9 (1,788.7)
Special items, net(16.8)(154.9)(38.9)— (210.6)
Equity income (loss) in subsidiaries641.3 (240.0)48.6 (449.9)— 
Operating income (loss)547.9 796.2 (20.4)(449.9)873.8 
Interest income (expense), net(179.7)38.1 (64.9)— (206.5)
Other pension and postretirement benefits (costs), net(0.4)15.3 7.8 — 22.7 
Other income (expense), net0.3 1.8 1.3 — 3.4 
Income (loss) before income taxes
368.1 851.4 (76.2)(449.9)693.4 
Income tax benefit (expense)52.7 (208.8)(109.1)— (265.2)
Net income (loss)
420.8 642.6 (185.3)(449.9)428.2 
Net (income) loss attributable to noncontrolling interests
— — (7.4)— (7.4)
Net income (loss) attributable to MCBC
$420.8 $642.6 $(192.7)$(449.9)$420.8 
Comprehensive income (loss) attributable to MCBC
$199.6 $583.0 $(270.3)$(312.7)$199.6 
MOLSON COORS BEVERAGE COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
(IN MILLIONS)
(UNAUDITED)

Nine Months Ended
September 30, 2019
Parent
Issuer		Subsidiary
Guarantors		Subsidiary
Non
Guarantors		EliminationsConsolidated
Sales$96.1 $7,606.7 $2,688.1 $(472.8)$9,918.1 
Excise taxes— (1,032.5)(792.4)— (1,824.9)
Net sales96.1 6,574.2 1,895.7 (472.8)8,093.2 
Cost of goods sold(5.9)(3,864.2)(1,323.0)334.9 (4,858.2)
Gross profit90.2 2,710.0 572.7 (137.9)3,235.0 
Marketing, general and administrative expenses
(188.1)(1,552.1)(512.8)137.9 (2,115.1)
Special items, net(0.4)(281.3)(384.7)— (666.4)
Equity income (loss) in subsidiaries221.5 (450.0)(186.2)414.7 — 
Operating income (loss)123.2 426.6 (511.0)414.7 453.5 
Interest income (expense), net(228.3)255.7 (231.9)— (204.5)
Other pension and postretirement benefits (costs), net— 3.5 21.5 — 25.0 
Other income (expense), net(0.5)(67.1)66.9 — (0.7)
Income (loss) before income taxes
(105.6)618.7 (654.5)414.7 273.3 
Income tax benefit (expense)183.6 (395.2)18.3 — (193.3)
Net income (loss)
78.0 223.5 (636.2)414.7 80.0 
Net (income) loss attributable to noncontrolling interests
— — (2.0)— (2.0)
Net income (loss) attributable to MCBC
$78.0 $223.5 $(638.2)$414.7 $78.0 
Comprehensive income attributable to MCBC
$(75.5)$102.3 $(760.2)$657.9 $(75.5)
MOLSON COORS BEVERAGE COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING BALANCE SHEET
(IN MILLIONS)
(UNAUDITED)
As of
September 30, 2020
Parent
Issuer		Subsidiary
Guarantors		Subsidiary
Non
Guarantors		EliminationsConsolidated
Assets     
Current assets:     
Cash and cash equivalents$48.4 $152.5 $530.4 $— $731.3 
Accounts receivable, net— 375.5 318.7 — 694.2 
Other receivables, net2.4 77.2 43.5 — 123.1 
Inventories, net— 494.5 163.2 — 657.7 
Other current assets, net0.8 313.7 119.7 — 434.2 
Intercompany accounts receivable458.2 1,487.7 92.8 (2,038.7)— 
Total current assets509.8 2,901.1 1,268.3 (2,038.7)2,640.5 
Properties, net3.0 3,013.8 1,163.3 — 4,180.1 
Goodwill— 6,141.1 1,483.0 — 7,624.1 
Other intangibles, net2.5 11,530.5 1,877.4 — 13,410.4 
Net investment in and advances to subsidiaries22,014.5 8,152.1 4,262.7 (34,429.3)— 
Other assets122.0 361.2 419.4 (82.4)820.2 
Total assets$22,651.8 $32,099.8 $10,474.1 $(36,550.4)$28,675.3 
Liabilities and equity     
Current liabilities:     
Accounts payable and other current liabilities$167.2 $1,830.3 $1,070.9 $— $3,068.4 
Current portion of long-term debt and short-term borrowings1,224.0 5.7 12.4 — 1,242.1 
Intercompany accounts payable1,208.0 496.0 334.7 (2,038.7)— 
Total current liabilities2,599.2 2,332.0 1,418.0 (2,038.7)4,310.5 
Long-term debt6,293.7 760.5 75.3 — 7,129.5 
Pension and postretirement benefits7.7 669.9 13.9 — 691.5 
Deferred tax liabilities— 1,608.2 750.2 (82.4)2,276.0 
Other liabilities239.7 164.0 88.5 — 492.2 
Intercompany notes payable— 3,942.2 3,788.6 (7,730.8)— 
Total liabilities9,140.3 9,476.8 6,134.5 (9,851.9)14,899.7 
MCBC stockholders' equity13,512.7 26,410.4 8,018.9 (34,429.3)13,512.7 
Intercompany notes receivable(1.2)(3,787.4)(3,942.2)7,730.8 — 
Total stockholders' equity13,511.5 22,623.0 4,076.7 (26,698.5)13,512.7 
Noncontrolling interests— — 262.9 — 262.9 
Total equity13,511.5 22,623.0 4,339.6 (26,698.5)13,775.6 
Total liabilities and equity$22,651.8 $32,099.8 $10,474.1 $(36,550.4)$28,675.3 
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		EliminationsConsolidated
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, net14.4 58.4 32.7 — 105.5 
Inventories, net— 449.1 166.8 — 615.9 
Other current assets, net3.0 126.0 95.8 — 224.8 
Intercompany accounts receivable94.1 190.0 14.9 (299.0)— 
Total current assets127.2 1,339.4 1,016.8 (299.0)2,184.4 
Properties, net19.8 3,294.7 1,232.0 — 4,546.5 
Goodwill— 6,146.5 1,484.9 — 7,631.4 
Other intangibles, net4.0 11,750.6 1,901.4 — 13,656.0 
Net investment in and advances to subsidiaries21,200.6 8,364.9 4,497.9 (34,063.4)— 
Other assets137.2 364.4 417.9 (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 borrowings499.7 415.1 13.4 — 928.2 
Intercompany accounts payable— 150.7 148.3 (299.0)— 
Total current liabilities670.4 2,287.8 1,036.3 (299.0)3,695.5 
Long-term debt7,250.3 779.1 80.1 — 8,109.5 
Pension and postretirement benefits7.2 695.5 13.9 — 716.6 
Deferred tax liabilities— 1,593.3 743.3 (78.0)2,258.6 
Other liabilities142.6 172.2 91.7 — 406.5 
Intercompany notes payable— — 65.0 (65.0)— 
Total liabilities8,070.5 5,527.9 2,030.3 (442.0)15,186.7 
MCBC stockholders' equity13,419.4 25,796.5 8,266.9 (34,063.4)13,419.4 
Intercompany notes receivable(1.1)(63.9)— 65.0 — 
Total stockholders' equity13,418.3 25,732.6 8,266.9 (33,998.4)13,419.4 
Noncontrolling interests— — 253.7 — 253.7 
Total equity13,418.3 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 
MOLSON COORS BEVERAGE COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
(IN MILLIONS)
(UNAUDITED)
Nine Months Ended
September 30, 2020
Parent
Issuer		Subsidiary
Guarantors		Subsidiary
Non
Guarantors		EliminationsConsolidated
Net cash provided by (used in) operating activities$498.3 $774.0 $220.9 $— $1,493.2 
CASH FLOWS FROM INVESTING ACTIVITIES:     
Additions to properties(4.9)(333.2)(118.3)— (456.4)
Proceeds from sales of properties and other assets— 2.3 2.3 — 4.6 
Other3.2 (4.5)1.8 — 0.5 
Net intercompany investing activity(73.2)(3,611.3)(3,569.1)7,253.6 — 
Net cash provided by (used in) investing activities(74.9)(3,946.7)(3,683.3)7,253.6 (451.3)
CASH FLOWS FROM FINANCING ACTIVITIES:     
Exercise of stock options under equity compensation plans4.0 — — — 4.0 
Dividends paid(115.3)— (10.0)— (125.3)
Payments on debt and borrowings(500.0)(404.2)(9.3)— (913.5)
Proceeds on debt and borrowings— — 1.5 — 1.5 
Net proceeds from (payments on) revolving credit facilities and commercial paper224.6 — — — 224.6 
Change in overdraft balances and other(4.0)(34.6)6.0 — (32.6)
Net intercompany financing activity— 3,641.0 3,612.6 (7,253.6)— 
Net cash provided by (used in) financing activities(390.7)3,202.2 3,600.8 (7,253.6)(841.3)
CASH AND CASH EQUIVALENTS:     
Net increase (decrease) in cash and cash equivalents32.7 29.5 138.4 — 200.6 
Effect of foreign exchange rate changes on cash and cash equivalents— 3.4 3.9 — 7.3 
Balance at beginning of year15.7 119.6 388.1 — 523.4 
Balance at end of period$48.4 $152.5 $530.4 $— $731.3 
MOLSON COORS BEVERAGE COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
(IN MILLIONS)
(UNAUDITED)
Nine Months Ended
September 30, 2019
Parent
Issuer		Subsidiary
Guarantors		Subsidiary
Non
Guarantors		EliminationsConsolidated
Net cash provided by (used in) operating activities$990.0 $341.7 $162.0 $(205.5)$1,288.2 
CASH FLOWS FROM INVESTING ACTIVITIES:     
Additions to properties(7.2)(276.8)(173.3)— (457.3)
Proceeds from sales of properties and other assets— 97.3 3.7 — 101.0 
Other46.2 0.2 (9.1)— 37.3 
Net intercompany investing activity46.5 69.4 48.4 (164.3)— 
Net cash provided by (used in) investing activities85.5 (109.9)(130.3)(164.3)(319.0)
CASH FLOWS FROM FINANCING ACTIVITIES:     
Exercise of stock options under equity compensation plans1.5 — — — 1.5 
Dividends paid(276.3)(205.5)(24.6)205.5 (300.9)
Payments on debt and borrowings(1,566.3)(0.3)(9.3)— (1,575.9)
Net proceeds from (payments on) revolving credit facilities and commercial paper264.8 — (1.9)— 262.9 
Change in overdraft balances and other(3.5)(9.8)12.1 — (1.2)
Net intercompany financing activity— (95.8)(68.5)164.3 — 
Net cash provided by (used in) financing activities(1,579.8)(311.4)(92.2)369.8 (1,613.6)
CASH AND CASH EQUIVALENTS:     
Net increase (decrease) in cash and cash equivalents(504.3)(79.6)(60.5)— (644.4)
Effect of foreign exchange rate changes on cash and cash equivalents3.1 3.3 (9.7)— (3.3)
Balance at beginning of year515.8 156.1 386.0 — 1,057.9 
Balance at end of period$14.6 $79.8 $315.8 $— $410.2