Guarantor Subsidiaries (Tables)

3 Months Ended

Apr. 04, 2015

DSS Group Inc [Member]

Condensed Consolidating Statement of Operations

Condensed Consolidating Statement of Operations

(in millions of U.S. dollars)

Unaudited

	For the Three Months Ended April 4, 2015
	Cott Corporation			DS Services of America, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Elimination Entries			Consolidated
Revenue, net	$	30.0		$	240.3		$	418.3		$	31.4	$	(10.2	)	$	709.8
Cost of sales		27.0			100.4			365.4			25.9		(10.2	)		508.5
Gross profit		3.0			139.9			52.9			5.5		—			201.3
Selling, general and administrative expenses		5.5			137.2			42.7			3.1		—			188.5
Loss on disposal of property, plant & equipment		—			1.1			0.3			—		—			1.4
Acquisition and integration expenses		—			3.0			1.7			—		—			4.7
Operating (loss) income		(2.5	)		(1.4	)		8.2			2.4		—			6.7
Other (income) expense, net		(10.5	)		(0.2	)		0.2			0.1		—			(10.4	)
Intercompany interest (income) expense, net		(3.0	)		10.9			(7.9	)		—		—			—
Interest expense, net		0.1			7.3			20.3			—		—			27.7
Income (loss) before income tax expense (benefit) and equity (loss) income		10.9			(19.4	)		(4.4	)		2.3		—			(10.6	)
Income tax expense (benefit)		1.2			(7.2	)		(3.5	)		0.1		—			(9.4	)
Equity (loss) income		(12.2	)		—			1.4			—		10.8			—
Net (loss) income	$	(2.5	)	$	(12.2	)	$	0.5		$	2.2	$	10.8		$	(1.2	)
Less: Net income attributable to non-controlling interests		—			—			—			1.3		—			1.3
Less: Accumulated dividends on convertible preferred shares		2.7			—			—			—		—			2.7
Less: Accumulated dividends on non-convertible preferred shares		0.8			—			—			—		—			0.8
Net (loss) income attributed to Cott Corporation	$	(6.0	)	$	(12.2	)	$	0.5		$	0.9	$	10.8		$	(6.0	)
Comprehensive (loss) income attributed to Cott Corporation	$	(31.8	)	$	(12.2	)	$	(15.8	)	$	0.6	$	27.4		$	(31.8	)

Condensed Consolidating Statement of Operations

(in millions of U.S. dollars)

Unaudited

	For the Three Months Ended March 29, 2014
	Cott Corporation			DS Services of America, Inc.		Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Elimination Entries			Consolidated
Revenue, net	$	37.2		$	—	$	417.4		$	32.3	$	(11.8	)	$	475.1
Cost of sales		34.2			—		369.9			26.6		(11.8	)		418.9
Gross profit		3.0			—		47.5			5.7		—			56.2
Selling, general and administrative expenses		6.5			—		37.3			3.1		—			46.9
Loss on disposal of property, plant & equipment		—			—		0.1			—		—			0.1
Restructuring		1.9			—		0.3			—		—			2.2
Asset impairments		0.9			—		0.7			—		—			1.6
Acquisition and integration expenses		—			—		1.1			—		—			1.1
Operating (loss) income		(6.3	)		—		8.0			2.6		—			4.3
Other expense (income), net		0.2			—		(2.6	)		0.1		—			(2.3	)
Interest expense, net		0.1			—		9.7			—		—			9.8
(Loss) income before income tax (benefit) expense and equity income (loss)		(6.6	)		—		0.9			2.5		—			(3.2	)
Income tax (benefit) expense		(1.0	)		—		0.4			0.1		—			(0.5	)
Equity income (loss)		1.5			—		(5.5	)		—		4.0			—
Net (loss) income	$	(4.1	)	$	—	$	(5.0	)	$	2.4	$	4.0		$	(2.7	)
Less: Net income attributable to non-controlling interests		—			—		—			1.4		—			1.4
Net (loss) income attributed to Cott Corporation	$	(4.1	)	$	—	$	(5.0	)	$	1.0	$	4.0		$	(4.1	)
Comprehensive (loss) income attributed to Cott Corporation	$	(5.8	)	$	—	$	13.1		$	0.9	$	(14.0	)	$	(5.8	)

Consolidating Balance Sheets

Consolidating Balance Sheets

(in millions of U.S. dollars)

Unaudited

	As of April 4, 2015
	Cott Corporation			DS Services of America, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Elimination Entries			Consolidated
ASSETS
Current assets
Cash & cash equivalents	$	0.3		$	14.8		$	14.8		$	4.6		$	—		$	34.5
Accounts receivable, net of allowance		17.7			119.8			224.2			12.8			(33.9	)		340.6
Income taxes recoverable		—			0.6			0.3			0.3			—			1.2
Inventories		13.0			29.4			220.7			7.4			—			270.5
Prepaid expenses and other assets		3.1			10.1			20.9			0.4			—			34.5
Total current assets		34.1			174.7			480.9			25.5			(33.9	)		681.3
Property, plant & equipment, net		34.7			415.4			387.7			7.4			—			845.2
Goodwill		21.9			559.8			160.7			—			—			742.4
Intangibles and other assets, net		0.6			408.8			347.8			5.7			—			762.9
Deferred income taxes		1.7			—			—			0.1			—			1.8
Due from affiliates		183.4			—			401.2			—			(584.6	)		—
Investments in subsidiaries		411.1			—			412.8			—			(823.9	)		—
Total assets	$	687.5		$	1,558.7		$	2,191.1		$	38.7		$	(1,442.4	)	$	3,033.6
LIABILITIES, PREFERRED SHARES AND EQUITY
Current liabilities
Short-term borrowings	$	—		$	—		$	221.0		$	—		$	—		$	221.0
Current maturities of long-term debt		0.1			—			3.0			1.0			—			4.1
Accounts payable and accrued liabilities		30.3			131.3			285.5			8.8			(33.9	)		422.0
Total current liabilities		30.4			131.3			509.5			9.8			(33.9	)		647.1
Long-term debt		—			394.2			1,158.0			0.3			—			1,552.5
Deferred income taxes		—			115.1			(9.8	)		—			—			105.3
Other long-term liabilities		0.5			28.8			36.5			1.3			—			67.1
Due to affiliates		1.2			548.8			2.0			32.6			(584.6	)		—
Total liabilities		32.1			1,218.2			1,696.2			44.0			(618.5	)		2,372.0
Convertible preferred shares		116.2			—			—			—			—			116.2
Non-convertible preferred shares		32.7			—			—			—			—			32.7
Equity
Capital stock, no par		389.5			355.5			1,210.8			39.5			(1,605.8	)		389.5
Additional paid-in-capital		47.2			—			—			—			—			47.2
Retained earnings (deficit)		146.6			(15.1	)		(694.9	)		(55.9	)		765.9			146.6
Accumulated other comprehensive (loss) income		(76.8	)		0.1			(21.0	)		4.9			16.0			(76.8	)
Total Cott Corporation equity		506.5			340.5			494.9			(11.5	)		(823.9	)		506.5
Non-controlling interests		—			—			—			6.2			—			6.2
Total equity		506.5			340.5			494.9			(5.3	)		(823.9	)		512.7
Total liabilities, preferred shares and equity	$	687.5		$	1,558.7		$	2,191.1		$	38.7		$	(1,442.4	)	$	3,033.6

Consolidating Balance Sheets

(in millions of U.S. dollars)

	As of January 3, 2015
	Cott Corporation			DS Services of America, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Elimination Entries			Consolidated
ASSETS
Current assets
Cash & cash equivalents	$	6.2		$	34.4		$	38.2		$	7.4		$	—		$	86.2
Accounts receivable, net of allowance		16.2			105.4			358.8			12.2			(186.9	)		305.7
Income taxes recoverable		—			0.6			0.6			0.4			—			1.6
Inventories		12.4			34.2			210.3			5.5			—			262.4
Prepaid expenses and other assets		3.2			10.3			45.4			0.4			—			59.3
Total current assets		38.0			184.9			653.3			25.9			(186.9	)		715.2
Property, plant & equipment, net		38.2			415.5			403.0			7.8			—			864.5
Goodwill		23.4			556.9			163.3			—			—			743.6
Intangibles and other assets, net		0.7			415.6			358.7			6.7			—			781.7
Deferred income taxes		2.5			—			—			—			—			2.5
Other tax receivable		0.1			—			0.1			—			—			0.2
Due from affiliates		183.8			—			403.0			0.1			(586.9	)		—
Investments in subsidiaries		436.3			—			973.1			—			(1,409.4	)		—
Total assets	$	723.0		$	1,572.9		$	2,954.5		$	40.5		$	(2,183.2	)	$	3,107.7
LIABILITIES, PREFERRED SHARES AND EQUITY
Current liabilities
Short-term borrowings	$	—		$	—		$	229.0		$	—		$	—		$	229.0
Current maturities of long-term debt		0.1			—			3.0			0.9			—			4.0
Accounts payable and accrued liabilities		30.4			106.8			461.9			8.1			(186.9	)		420.3
Total current liabilities		30.5			106.8			693.9			9.0			(186.9	)		653.3
Long-term debt		—			405.6			1,158.8			0.6			—			1,565.0
Deferred income taxes		—			129.3			(9.4	)		—			—			119.9
Other long-term liabilities		0.4			29.6			40.5			1.3			—			71.8
Due to affiliates		1.3			548.8			3.9			32.9			(586.9	)		—
Total liabilities		32.2			1,220.1			1,887.7			43.8			(773.8	)		2,410.0
Convertible preferred shares		116.1			—			—			—			—			116.1
Non-convertible preferred shares		32.7			—			—			—			—			32.7
Equity
Capital stock, no par		388.3			355.5			1,766.0			39.7			(2,161.2	)		388.3
Additional paid-in-capital		46.6			—			—			—			—			46.6
Retained earnings (deficit)		158.1			(2.8	)		(694.5	)		(55.1	)		752.4			158.1
Accumulated other comprehensive (loss) income		(51.0	)		0.1			(4.7	)		5.2			(0.6	)		(51.0	)
Total Cott Corporation equity		542.0			352.8			1,066.8			(10.2	)		(1,409.4	)		542.0
Non-controlling interests		—			—			—			6.9			—			6.9
Total equity		542.0			352.8			1,066.8			(3.3	)		(1,409.4	)		548.9
Total liabilities, preferred shares and equity	$	723.0		$	1,572.9		$	2,954.5		$	40.5		$	(2,183.2	)	$	3,107.7

Consolidating Statements of Condensed Cash Flows

Consolidating Statements of Condensed Cash Flows

(in millions of U.S. dollars)

Unaudited

	For the Three Months Ended April 4, 2015
	Cott Corporation			DS Services of America, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Elimination Entries			Consolidated
Operating Activities
Net (loss) income	$	(2.5	)	$	(12.2	)	$	0.5		$	2.2		$	10.8		$	(1.2	)
Depreciation & amortization		1.2			30.2			24.6			1.4			—			57.4
Amortization of financing fees		—			—			1.3			—			—			1.3
Amortization of bond premium		—			(1.5	)		—			—			—			(1.5	)
Share-based compensation expense		0.1			0.6			1.7			—			—			2.4
Increase (decrease) in deferred income taxes		0.4			(7.7	)		(4.3	)		(0.1	)		—			(11.7	)
Loss on disposal of property, plant & equipment		—			1.1			0.3			—			—			1.4
Equity loss (income), net of distributions		12.2			—			(1.4	)		—			(10.8	)		—
Intercompany dividends		2.1			—			2.1			—			(4.2	)		—
Other non-cash items		—			—			(10.2	)		—			—			(10.2	)
Net change in operating assets and liabilities, net of acquisition		(9.1	)		(9.9	)		(18.2	)		(1.8	)		—			(39.0	)
Net cash provided by (used in) operating activities		4.4			0.6			(3.6	)		1.7			(4.2	)		(1.1	)
Investing Activities
Additions to property, plant & equipment		(0.3	)		(18.4	)		(8.6	)		—			—			(27.3	)
Additions to intangibles and other assets		—			(1.8	)		(0.3	)		—			—			(2.1	)
Proceeds from sale of property, plant & equipment		—			—			0.4			—			—			0.4
Net cash used in investing activities		(0.3	)		(20.2	)		(8.5	)		—			—			(29.0	)
Financing Activities
Payments of long-term debt		—			—			(0.5	)		(0.3	)		—			(0.8	)
Borrowings under ABL		—			—			94.8			—			—			94.8
Payments under ABL		—			—			(102.8	)		—			—			(102.8	)
Distributions to non-controlling interests		—			—			—			(2.0	)		—			(2.0	)
Proceeds from the exercise of options for common shares, net		0.1			—			—			—			—			0.1
Common shares repurchased and cancelled		(0.7	)		—			—			—			—			(0.7	)
Dividends paid to common and preferred shareowners		(9.0	)		—			—			—			—			(9.0	)
Intercompany dividends		—			—			(2.1	)		(2.1	)		4.2			—
Net cash used in financing activities		(9.6	)		—			(10.6	)		(4.4	)		4.2			(20.4	)
Effect of exchange rate changes on cash		(0.4	)		—			(0.7	)		(0.1	)		—			(1.2	)
Net decrease in cash & cash equivalents		(5.9	)		(19.6	)		(23.4	)		(2.8	)		—			(51.7	)
Cash & cash equivalents, beginning of period		6.2			34.4			38.2			7.4			—			86.2
Cash & cash equivalents, end of period	$	0.3		$	14.8		$	14.8		$	4.6		$	—		$	34.5

Consolidating Statements of Condensed Cash Flows

(in millions of U.S. dollars)

Unaudited

	For the Three Months Ended March 29, 2014
	Cott Corporation			DS Services of America, Inc.		Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Elimination Entries			Consolidated
Operating Activities
Net (loss) income	$	(4.1	)	$	—	$	(5.0	)	$	2.4		$	4.0		$	(2.7	)
Depreciation & amortization		1.5			—		22.1			1.5			—			25.1
Amortization of financing fees		—			—		0.6			—			—			0.6
Share-based compensation expense		0.2			—		1.1			—			—			1.3
(Decrease) increase in deferred income taxes		(0.9	)		—		0.5			(0.3	)		—			(0.7	)
Loss on disposal of property, plant & equipment		—			—		0.1			—			—			0.1
Asset impairments		0.9			—		0.7			—			—			1.6
Write off of financing fees and discount		—			—		0.3			—			—			0.3
Equity (income) loss, net of distributions		(1.5	)		—		5.5			—			(4.0	)		—
Intercompany dividends		2.3			—		2.4			—			(4.7	)		—
Other non-cash items		—			—		(0.2	)		—			—			(0.2	)
Net change in operating assets and liabilities		10.3			—		(88.4	)		0.2			—			(77.9	)
Net cash provided by (used in) operating activities		8.7			—		(60.3	)		3.8			(4.7	)		(52.5	)
Investing Activities
Additions to property, plant & equipment		(0.6	)		—		(8.2	)		—			—			(8.8	)
Additions to intangibles and other assets		—			—		(1.5	)		—			—			(1.5	)
Net cash used in investing activities		(0.6	)		—		(9.7	)		—			—			(10.3	)
Financing Activities
Payments of long-term debt		—			—		(15.7	)		(0.3	)		—			(16.0	)
Borrowings under ABL		—			—		95.0			—			—			95.0
Payments under ABL		—			—		(15.1	)		—			—			(15.1	)
Distributions to non-controlling interests		—			—		—			(2.3	)		—			(2.3	)
Common shares repurchased and cancelled		(0.4	)		—		—			—			—			(0.4	)
Dividends paid to shareholders		(5.1	)		—		—			—			—			(5.1	)
Intercompany dividends		—			—		(2.3	)		(2.4	)		4.7			—
Net cash (used in) provided by financing activities		(5.5	)		—		61.9			(5.0	)		4.7			56.1
Effect of exchange rate changes on cash		(0.1	)		—		0.2			—			—			0.1
Net increase (decrease) in cash & cash equivalents		2.5			—		(7.9	)		(1.2	)		—			(6.6	)
Cash & cash equivalents, beginning of period		1.5			—		40.2			5.5			—			47.2
Cash & cash equivalents, end of period	$	4.0		$	—	$	32.3		$	4.3		$	—		$	40.6

Cott Beverages Inc. [Member]

Condensed Consolidating Statement of Operations

Condensed Consolidating Statement of Operations

(in millions of U.S. dollars)

Unaudited

	For the Three Months Ended April 4, 2015
	Cott Corporation			Cott Beverages, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Elimination Entries			Consolidated
Revenue, net	$	30.0		$	170.0		$	488.6		$	31.4	$	(10.2	)	$	709.8
Cost of sales		27.0			145.8			320.0			25.9		(10.2	)		508.5
Gross profit		3.0			24.2			168.6			5.5		—			201.3
Selling, general and administrative expenses		5.5			23.8			156.1			3.1		—			188.5
Loss on disposal of property, plant & equipment		—			0.3			1.1			—		—			1.4
Acquisition and integration expenses		—			1.5			3.2			—		—			4.7
Operating (loss) income		(2.5	)		(1.4	)		8.2			2.4		—			6.7
Other (income) expense, net		(10.5	)		—			—			0.1		—			(10.4	)
Intercompany interest (income) expense, net		(3.0	)		(12.2	)		15.2			—		—			—
Interest expense, net		0.1			20.1			7.5			—		—			27.7
Income (loss) before income tax expense (benefit) and equity (loss) income		10.9			(9.3	)		(14.5	)		2.3		—			(10.6	)
Income tax expense (benefit)		1.2			(4.6	)		(6.1	)		0.1		—			(9.4	)
Equity (loss) income		(12.2	)		1.4			—			—		10.8			—
Net (loss) income	$	(2.5	)	$	(3.3	)	$	(8.4	)	$	2.2	$	10.8		$	(1.2	)
Less: Net income attributable to non-controlling interests		—			—			—			1.3		—			1.3
Less: Accumulated dividends on convertible preferred shares		2.7			—			—			—		—			2.7
Less: Accumulated dividends on non-convertible preferred shares		0.8			—			—			—		—			0.8
Net (loss) income attributed to Cott Corporation	$	(6.0	)	$	(3.3	)	$	(8.4	)	$	0.9	$	10.8		$	(6.0	)
Comprehensive (loss) income attributed to Cott Corporation	$	(31.8	)	$	(22.8	)	$	(20.5	)	$	0.6	$	42.7		$	(31.8	)

Condensed Consolidating Statement of Operations

(in millions of U.S. dollars)

Unaudited

	For the Three Months Ended March 29, 2014
	Cott Corporation			Cott Beverages, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Elimination Entries			Consolidated
Revenue, net	$	37.2		$	175.1		$	242.3		$	32.3	$	(11.8	)	$	475.1
Cost of sales		34.2			154.0			215.8			26.7		(11.8	)		418.9
Gross profit		3.0			21.1			26.5			5.6		—			56.2
Selling, general and administrative expenses		6.5			25.7			11.7			3.0		—			46.9
Loss on disposal of property, plant & equipment		—			0.1			—			—		—			0.1
Restructuring		1.9			0.2			0.1			—		—			2.2
Asset impairments		0.9			—			0.7			—		—			1.6
Acquisition and integration expenses		—			—			1.1			—		—			1.1
Operating (loss) income		(6.3	)		(4.9	)		12.9			2.6		—			4.3
Other expense (income), net		0.2			(2.6	)		—			0.1		—			(2.3	)
Intercompany interest (income) expense, net		—			(3.5	)		3.5			—		—			—
Interest expense, net		0.1			9.0			0.7			—		—			9.8
(Loss) income before income tax (benefit) expense and equity income (loss)		(6.6	)		(7.8	)		8.7			2.5		—			(3.2	)
Income tax (benefit) expense		(1.0	)		0.3			0.1			0.1		—			(0.5	)
Equity income (loss)		1.5			1.3			(6.8	)		—		4.0			—
Net (loss) income	$	(4.1	)	$	(6.8	)	$	1.8		$	2.4	$	4.0		$	(2.7	)
Less: Net income attributable to non-controlling interests		—			—			—			1.4		—			1.4
Net (loss) income attributed to Cott Corporation	$	(4.1	)	$	(6.8	)	$	1.8		$	1.0	$	4.0		$	(4.1	)
Comprehensive (loss) income attributed to Cott Corporation	$	(5.8	)	$	(2.7	)	$	15.8		$	0.9	$	(14.0	)	$	(5.8	)

Consolidating Balance Sheets

Consolidating Balance Sheets

(in millions of U.S. dollars)

Unaudited

	As of April 4, 2015
	Cott Corporation			Cott Beverages, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Elimination Entries			Consolidated
ASSETS
Current assets
Cash & cash equivalents	$	0.3		$	1.4		$	28.2		$	4.6		$	—		$	34.5
Accounts receivable, net of allowance		17.7			149.1			353.2			12.8			(192.2	)		340.6
Income taxes recoverable		—			0.3			0.6			0.3			—			1.2
Inventories		13.0			76.7			173.4			7.4			—			270.5
Prepaid expenses and other assets		3.1			15.9			15.1			0.4			—			34.5
Total current assets		34.1			243.4			570.5			25.5			(192.2	)		681.3
Property, plant & equipment, net		34.7			172.4			630.7			7.4			—			845.2
Goodwill		21.9			4.5			716.0			—			—			742.4
Intangibles and other assets, net		0.6			103.9			652.7			5.7			—			762.9
Deferred income taxes		1.7			30.8			—			0.1			(30.8	)		1.8
Due from affiliates		183.4			558.0			2.8			—			(744.2	)		—
Investments in subsidiaries		411.1			620.4			226.9			—			(1,258.4	)		—
Total assets	$	687.5		$	1,733.4		$	2,799.6		$	38.7		$	(2,225.6	)	$	3,033.6
LIABILITIES, PREFERRED SHARES AND EQUITY
Current liabilities
Short-term borrowings	$	—		$	212.1		$	8.9		$	—		$	—		$	221.0
Current maturities of long-term debt		0.1			2.6			0.4			1.0			—			4.1
Accounts payable and accrued liabilities		30.3			222.1			353.0			8.8			(192.2	)		422.0
Total current liabilities		30.4			436.8			362.3			9.8			(192.2	)		647.1
Long-term debt		—			1,156.5			395.7			0.3			—			1,552.5
Deferred income taxes		—			—			136.1			—			(30.8	)		105.3
Other long-term liabilities		0.5			3.9			61.4			1.3			—			67.1
Due to affiliates		1.2			1.6			708.8			32.6			(744.2	)		—
Total liabilities		32.1			1,598.8			1,664.3			44.0			(967.2	)		2,372.0
Convertible preferred shares		116.2			—			—			—			—			116.2
Non-convertible preferred shares		32.7			—			—			—			—			32.7
Equity
Capital stock, no par		389.5			525.7			1,555.0			39.5			(2,120.2	)		389.5
Additional paid-in-capital		47.2			—			—			—			—			47.2
Retained earnings (deficit)		146.6			(363.0	)		(411.6	)		(55.9	)		830.5			146.6
Accumulated other comprehensive (loss) income		(76.8	)		(28.1	)		(8.1	)		4.9			31.3			(76.8	)
Total Cott Corporation equity		506.5			134.6			1,135.3			(11.5	)		(1,258.4	)		506.5
Non-controlling interests		—			—			—			6.2			—			6.2
Total equity		506.5			134.6			1,135.3			(5.3	)		(1,258.4	)		512.7
Total liabilities, preferred shares and equity	$	687.5		$	1,733.4		$	2,799.6		$	38.7		$	(2,225.6	)	$	3,033.6

Consolidating Balance Sheets

(in millions of U.S. dollars)

	As of January 3, 2015
	Cott Corporation			Cott Beverages, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Elimination Entries			Consolidated
ASSETS
Current assets
Cash & cash equivalents	$	6.2		$	8.6		$	64.0		$	7.4		$	—		$	86.2
Accounts receivable, net of allowance		16.2			130.4			333.8			12.2			(186.9	)		305.7
Income taxes recoverable		—			0.6			0.6			0.4			—			1.6
Inventories		12.4			72.5			172.0			5.5			—			262.4
Prepaid expenses and other assets		3.2			39.5			16.2			0.4			—			59.3
Total current assets		38.0			251.6			586.6			25.9			(186.9	)		715.2
Property, plant & equipment, net		38.2			178.4			640.1			7.8			—			864.5
Goodwill		23.4			4.5			715.7			—			—			743.6
Intangibles and other assets, net		0.7			105.3			669.0			6.7			—			781.7
Deferred income taxes		2.5			30.5			—			—			(30.5	)		2.5
Other tax receivable		0.1			0.1			—			—			—			0.2
Due from affiliates		183.8			564.5			3.0			0.1			(751.4	)		—
Investments in subsidiaries		436.3			623.5			349.6			—			(1,409.4	)		—
Total assets	$	723.0		$	1,758.4		$	2,964.0		$	40.5		$	(2,378.2	)	$	3,107.7
LIABILITIES, PREFERRED SHARES AND EQUITY
Current liabilities
Short-term borrowings	$	—		$	229.0		$	—		$	—		$	—		$	229.0
Current maturities of long-term debt		0.1			2.5			0.5			0.9			—			4.0
Accounts payable and accrued liabilities		30.4			212.4			356.3			8.1			(186.9	)		420.3
Total current liabilities		30.5			443.9			356.8			9.0			(186.9	)		653.3
Long-term debt		—			1,157.1			407.3			0.6			—			1,565.0
Deferred income taxes		—			—			150.4			—			(30.5	)		119.9
Other long-term liabilities		0.4			5.8			64.3			1.3			—			71.8
Due to affiliates		1.3			1.7			715.5			32.9			(751.4	)		—
Total liabilities		32.2			1,608.5			1,694.3			43.8			(968.8	)		2,410.0
Convertible preferred shares		116.1			—			—			—			—			116.1
Non-convertible preferred shares		32.7			—			—			—			—			32.7
Equity
Capital stock, no par		388.3			525.7			1,595.8			39.7			(2,161.2	)		388.3
Additional paid-in-capital		46.6			—			—			—			—			46.6
Retained earnings (deficit)		158.1			(367.2	)		(330.1	)		(55.1	)		752.4			158.1
Accumulated other comprehensive
(loss) income		(51.0	)		(8.6	)		4.0			5.2			(0.6	)		(51.0	)
Total Cott Corporation equity		542.0			149.9			1,269.7			(10.2	)		(1,409.4	)		542.0
Non-controlling interests		—			—			—			6.9			—			6.9
Total equity		542.0			149.9			1,269.7			(3.3	)		(1,409.4	)		548.9
Total liabilities, preferred shares and equity	$	723.0		$	1,758.4		$	2,964.0		$	40.5		$	(2,378.2	)	$	3,107.7

Consolidating Statements of Condensed Cash Flows

Consolidating Statements of Condensed Cash Flows

(in millions of U.S. dollars)

Unaudited

	For the Three Months Ended April 4, 2015
	Cott Corporation			Cott Beverages, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Elimination Entries			Consolidated
Operating Activities
Net (loss) income	$	(2.5	)	$	(3.3	)	$	(8.4	)	$	2.2		$	10.8		$	(1.2	)
Depreciation & amortization		1.2			11.5			43.3			1.4			—			57.4
Amortization of financing fees		—			1.3			—			—			—			1.3
Amortization of bond premium		—			(1.5	)		—			—			—			(1.5	)
Share-based compensation expense		0.1			1.5			0.8			—			—			2.4
Increase (decrease) in deferred income taxes		0.4			(5.2	)		(6.8	)		(0.1	)		—			(11.7	)
Loss on disposal of property, plant & equipment		—			0.3			1.1			—			—			1.4
Equity loss (income), net of distributions		12.2			(1.4	)		—			—			(10.8	)		—
Intercompany dividends		2.1			2.1			—			—			(4.2	)		—
Other non-cash items		—			(10.2	)		—			—			—			(10.2	)
Net change in operating assets and liabilities, net of acquisition		(9.1	)		21.8			(49.9	)		(1.8	)		—			(39.0	)
Net cash provided by (used in) operating activities		4.4			16.9			(19.9	)		1.7			(4.2	)		(1.1	)
Investing Activities
Additions to property, plant & equipment		(0.3	)		(6.9	)		(20.1	)		—			—			(27.3	)
Additions to intangibles and other assets		—			(0.3	)		(1.8	)		—			—			(2.1	)
Proceeds from sale of property, plant & equipment		—			0.4			—			—			—			0.4
Net cash used in investing activities		(0.3	)		(6.8	)		(21.9	)		—			—			(29.0	)
Financing Activities
Payments of long-term debt		—			(0.4	)		(0.1	)		(0.3	)		—			(0.8	)
Borrowings under ABL		—			85.9			8.9			—			—			94.8
Payments under ABL		—			(102.8	)		—			—			—			(102.8	)
Distributions to non-controlling interests		—			—			—			(2.0	)		—			(2.0	)
Proceeds from the exercise of options for common shares, net		0.1			—			—			—			—			0.1
Common shares repurchased and cancelled		(0.7	)		—			—			—			—			(0.7	)
Dividends paid to common and preferred shareowners		(9.0	)		—			—			—			—			(9.0	)
Intercompany dividends		—			—			(2.1	)		(2.1	)		4.2			—
Net cash (used in) provided by financing activities		(9.6	)		(17.3	)		6.7			(4.4	)		4.2			(20.4	)
Effect of exchange rate changes on cash		(0.4	)		—			(0.7	)		(0.1	)		—			(1.2	)
Net decrease in cash & cash equivalents		(5.9	)		(7.2	)		(35.8	)		(2.8	)		—			(51.7	)
Cash & cash equivalents, beginning of period		6.2			8.6			64.0			7.4			—			86.2
Cash & cash equivalents, end of period	$	0.3		$	1.4		$	28.2		$	4.6		$	—		$	34.5

Consolidating Statements of Condensed Cash Flows

(in millions of U.S. dollars)64naudited

	For the Three Months Ended March 29, 2014
	Cott Corporation			Cott Beverages, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Elimination Entries			Consolidated
Operating Activities
Net (loss) income	$	(4.1	)	$	(6.8	)	$	1.8		$	2.4		$	4.0		$	(2.7	)
Depreciation & amortization		1.5			10.0			12.1			1.5			—			25.1
Amortization of financing fees		—			0.6			—			—			—			0.6
Share-based compensation expense		0.2			1.0			0.1			—			—			1.3
(Decrease) increase in deferred income taxes		(0.9	)		(0.1	)		0.6			(0.3	)		—			(0.7	)
Loss on disposal of property, plant & equipment		—			0.1			—			—			—			0.1
Asset impairments		0.9			—			0.7			—			—			1.6
Write off of financing fees and discount		—			0.3			—			—			—			0.3
Equity (income) loss, net of distributions		(1.5	)		(1.3	)		6.8			—			(4.0	)		—
Intercompany dividends		2.3			2.4			—			—			(4.7	)		—
Other non-cash items		—			(0.2	)		—			—			—			(0.2	)
Net change in operating assets and liabilities		10.3			(58.9	)		(29.5	)		0.2			—			(77.9	)
Net cash provided by (used in) operating activities		8.7			(52.9	)		(7.4	)		3.8			(4.7	)		(52.5	)
Investing Activities
Additions to property, plant & equipment		(0.6	)		(5.1	)		(3.1	)		—			—			(8.8	)
Additions to intangibles and other assets		—			(1.5	)		—			—			—			(1.5	)
Net cash used in investing activities		(0.6	)		(6.6	)		(3.1	)		—			—			(10.3	)
Financing Activities
Payments of long-term debt		—			(15.6	)		(0.1	)		(0.3	)		—			(16.0	)
Borrowings under ABL		—			95.0			—			—			—			95.0
Payments under ABL		—			(15.1	)		—			—			—			(15.1	)
Distributions to non-controlling interests		—			—			—			(2.3	)		—			(2.3	)
Common shares repurchased and cancelled		(0.4	)		—			—			—			—			(0.4	)
Dividends paid to shareholders and cancelled		(5.1	)		—			—			—			—			(5.1	)
Intercompany dividends		—			—			(2.3	)		(2.4	)		4.7			—
Net cash (used in) provided by financing activities		(5.5	)		64.3			(2.4	)		(5.0	)		4.7			56.1
Effect of exchange rate changes on cash		(0.1	)		—			0.2			—			—			0.1
Net increase (decrease) in cash & cash equivalents		2.5			4.8			(12.7	)		(1.2	)		—			(6.6	)
Cash & cash equivalents, beginning of period		1.5			1.1			39.1			5.5			—			47.2
Cash & cash equivalents, end of period	$	4.0		$	5.9		$	26.4		$	4.3		$	—		$	40.6