Revision of Previously Reported Financial Information

On January 30, 2018, the Company completed the sale of the Traditional Business (the "Transaction") to Refresco Group N.V., a Dutch company (“Refresco”). The Transaction was structured as a sale of the assets of the Canadian business and a sale of the stock of the operating subsidiaries engaged in the Traditional Business in the other jurisdictions. See Note 3 to the Consolidated Financial Statements for additional information. The aggregate deal consideration was approximately $1.25 billion, paid in cash at closing, resulting in a gain on sale of $427.6 million. During the third quarter of 2018, we identified an error in the entries recorded as part of the Transaction which resulted in an understatement of accounts payable and accrued liabilities and overstatement of currency translation adjustment, a component of accumulated other comprehensive loss, on our Consolidated Balance Sheet as of March 31, 2018 and June 30, 2018 of $10.3 million. The misstatement in these balances also impacted the currency translation adjustment reported on our Condensed Consolidated Statements of Comprehensive Income (Loss) and net cash provided by operating activities from continuing operations and operating activities of discontinued operations as reported in our Consolidated Statements of Cash Flows for the three months ended March 31, 2018 and the six months ended June 30, 2018 as well as accumulated other comprehensive loss as reported in our Consolidated Statements of Equity as of March 31, 2018 and June 30, 2018. The error in the Consolidated Statement of Cash Flows resulted from incorrectly presenting cash from operations of continued operations as discontinued operations for the three months ended March 31, 2018 and six months ended June 30, 2018. No other financial statement line items were impacted by this error.

We have evaluated the error and determined it is not material to the previously issued financial statements and have elected to revise our previously issued consolidated statements as follows:



Consolidated Balance Sheets

	March 31, 2018						June 30, 2018
(in millions of U.S. dollars)	As Previously Reported		Adjustments		As Revised		As Previously Reported		Adjustments		As Revised
Accounts payable and accrued liabilities	439.8		10.3		450.1		421.5		10.3		431.8
Total current liabilities	445.6		10.3		455.9		430.2		10.3		440.5
Total liabilities	1,948.0		10.3		1,958.3		1,896.3		10.3		1,906.6
Accumulated other comprehensive loss	(62.7	)	(10.3	)	(73.0	)	(80.2	)	(10.3	)	(90.5	)
Total Cott Corporation Equity	1,263.8		(10.3	)	1,253.5		1,238.9		(10.3	)	1,228.6



Condensed Consolidated Statements of Comprehensive (Loss) Income

	For the Three Months Ended March 31, 2018				For the Six Months Ended June 30, 2018
(in millions of U.S. dollars)	As Previously Reported	Adjustments		As Revised	As Previously Reported	Adjustments		As Revised
Currency translation adjustment	18.6	(10.3	)	8.3	1.6	(10.3	)	(8.7	)
Total other comprehensive income	31.7	(10.3	)	21.4	14.2	(10.3	)	3.9



Consolidated Statements of Cash Flows

	For the Three Months Ended March 31, 2018						For the Six Months Ended June 30, 2018
(in millions of U.S. dollars)	As Previously Reported		Adjustments		As Revised		As Previously Reported		Adjustments		As Revised
Change in accounts payable and accrued liabilities	(2.6	)	10.3		7.7		(16.5	)	10.3		(6.2	)
Net cash provided by operating activities from continuing operations	22.6		10.3		32.9		57.6		10.3		67.9

Operating activities of discontinued operations	(74.4	)	(10.3	)	(84.7	)	(77.7	)	(10.3	)	(88.0	)



Consolidated Statement of Equity

	March 31, 2018						June 30, 2018
(in millions of U.S. dollars)	As Previously Reported		Adjustments		As Revised		As Previously Reported		Adjustments		As Revised
Currency translation adjustment	18.6		(10.3	)	8.3		1.6		(10.3	)	(8.7	)
Accumulated other comprehensive loss	(62.7	)	(10.3	)	(73.0	)	(80.2	)	(10.3	)	(90.5	)
Total Cott Corporation equity	1,263.8		(10.3	)	1,253.5		1,238.9		(10.3	)	1,228.6

We will continue to revise interim periods in future filings for certain amounts in the consolidated financial statements to correct these misstatements.