Company Quick10K Filing
Cott
Closing Price ($) Shares Out (MM) Market Cap ($MM)
$0.00 137 $1,795
10-Q 2019-11-07 Quarter: 2019-09-28
10-Q 2019-08-08 Quarter: 2019-06-29
10-Q 2019-05-09 Quarter: 2019-03-30
10-K 2019-02-27 Annual: 2018-12-29
10-Q 2018-11-08 Quarter: 2018-09-29
10-Q 2018-08-07 Quarter: 2018-06-30
10-Q 2018-05-10 Quarter: 2018-03-31
10-K 2018-02-28 Annual: 2017-12-30
10-Q 2017-11-09 Quarter: 2017-09-30
10-Q 2017-08-10 Quarter: 2017-07-01
10-Q 2017-05-11 Quarter: 2017-04-01
10-K 2017-03-01 Annual: 2016-12-31
10-Q 2016-11-10 Quarter: 2016-10-01
10-Q 2016-08-09 Quarter: 2016-07-02
10-Q 2016-05-09 Quarter: 2016-04-02
10-K 2016-02-29 Annual: 2016-01-02
10-Q 2015-11-12 Quarter: 2015-10-03
10-Q 2015-08-05 Quarter: 2015-07-04
10-Q 2015-05-14 Quarter: 2015-04-04
10-K 2015-03-04 Annual: 2015-01-03
10-Q 2014-11-04 Quarter: 2014-09-27
10-Q 2014-08-07 Quarter: 2014-06-28
10-Q 2014-05-08 Quarter: 2014-03-29
10-K 2014-02-24 Annual: 2013-12-28
10-Q 2013-11-01 Quarter: 2013-09-28
10-Q 2013-08-02 Quarter: 2013-06-29
10-Q 2013-05-03 Quarter: 2013-03-30
10-K 2013-02-27 Annual: 2012-12-29
10-Q 2012-11-01 Quarter: 2012-09-29
10-Q 2012-08-03 Quarter: 2012-06-30
10-Q 2012-05-07 Quarter: 2012-03-31
10-K 2012-02-29 Annual: 2011-12-31
10-Q 2011-11-04 Quarter: 2011-10-01
10-Q 2011-08-09 Quarter: 2011-07-02
10-Q 2011-05-11 Quarter: 2011-04-02
10-K 2011-03-15 Annual: 2011-01-01
10-Q 2010-11-10 Quarter: 2010-10-02
10-Q 2010-08-04 Quarter: 2010-07-03
10-Q 2010-05-12 Quarter: 2010-04-03
10-K 2010-03-16 Annual: 2010-01-02
8-K 2020-01-13 Regulation FD, Other Events, Exhibits
8-K 2020-01-13 Enter Agreement, Exhibits
8-K 2019-12-10 Officers, Other Events, Exhibits
8-K 2019-11-06 Earnings, Other Events, Exhibits
8-K 2019-08-08 Earnings, Other Events, Exhibits
8-K 2019-05-02 Earnings, Shareholder Vote, Other Events, Exhibits
8-K 2019-02-22 Earnings, Other Events, Exhibits
8-K 2018-11-08 Officers, Regulation FD, Other Events, Exhibits
8-K 2018-08-02 Earnings, Officers, Other Events, Exhibits
8-K 2018-08-01 Officers, Exhibits
8-K 2018-05-03 Earnings, Shareholder Vote, Other Events, Exhibits
8-K 2018-05-01 Enter Agreement, Shareholder Rights, Exhibits
8-K 2018-03-01 Earnings, Officers, Other Events, Exhibits
8-K 2018-01-30 Enter Agreement, Leave Agreement, M&A, Off-BS Arrangement, Officers, Regulation FD, Exhibits
COT 2019-09-28
Part I - Financial Information
Item 1. Financial Statements (Unaudited)
Note 1-Business and Recent Accounting Pronouncements
Note 2-Leases
Note 3-Revenue
Note 4-Acquisitions
Note 5-Share-Based Compensation
Note 6-Income Taxes
Note 7-Common Shares and Net Income (Loss) per Common Share
Note 8-Segment Reporting
Note 9-Inventories
Note 10-Intangible Assets, Net
Note 11-Accumulated Other Comprehensive (Loss) Income
Note 12-Commitments and Contingencies
Note 13-Hedging Transactions and Derivative Financial Instruments
Note 14-Fair Value Measurements
Note 15-Subsequent Events
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 4. Controls and Procedures
Part II. Other Information
Item 1. Legal Proceedings
Item 1A. Risk Factors
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Item 6. Exhibits
EX-31.1 exhibit3119282019.htm
EX-31.2 exhibit3129282019.htm
EX-32.1 exhibit3219282019.htm
EX-32.2 exhibit3229282019.htm

Cott Earnings 2019-09-28

COT 10Q Quarterly Report

Balance SheetIncome StatementCash Flow

Comparables ($MM TTM)
Ticker M Cap Assets Liab Rev G Profit Net Inc EBITDA EV G Margin EV/EBITDA ROA
COKE 2,827 3,132 2,664 4,725 1,626 11 265 3,914 34% 14.8 0%
FIZZ 2,181 550 184 985 365 127 193 1,979 37% 10.2 23%
COT 1,795 3,332 2,193 2,387 1,197 -5 277 2,943 50% 10.6 -0%
MGPI 1,109 299 86 379 81 38 59 1,150 21% 19.4 13%
NBEV 347 332 174 152 122 -18 -3 284 80% -97.4 -5%
BREW 269 258 125 204 71 -5 8 320 35% 38.2 -2%
CELH 244 44 19 62 25 21 21 244 40% 11.4 48%
REED 123 16 14 38 10 -13 -11 121 26% -10.7 -80%
ROX 76 85 66 95 37 8 -0 75 39% -162.2 10%
EAST 40 26 11 12 4 -12 -10 43 30% -4.3 -45%

Document
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United States
Securities and Exchange Commission
Washington, D.C. 20549
 

FORM 10-Q
 
 
 
Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the quarterly period ended: September 28, 2019
Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the transition period from                       to                      l

Commission File Number: 001-31410
 
 

COTT CORPORATION
(Exact name of registrant as specified in its charter)
 
 
Canada
 
98-0154711
(State or Other Jurisdiction of
Incorporation or Organization)
 
(IRS Employer
Identification No.)
 
 
 
1200 BRITANNIA ROAD EAST
 
 
MISSISSAUGA,
Ontario
 
L4W 4T5
Canada
 
 
 
 
 
4221 WEST BOY SCOUT BOULEVARD
 
 
SUITE 400
 
 
TAMPA,
Florida
 
33607
United States
 
 
(Address of principal executive offices)
 
(Zip Code)

Registrant’s telephone number, including area code: (905795-6500 and (813) 313-1732
 

Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Shares, no par value per share
COT
New York Stock Exchange
BCB
Toronto Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  ý    No  ¨
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes  ý    No  ¨
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large Accelerated Filer
ý
 
 
Accelerated filer
Non-accelerated filer
 
 
Smaller reporting company
 
 
 
 
Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).    Yes      No  
Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.
Class
 
Outstanding at November 1, 2019
Common Shares, no par value per share
 
134,694,893





TABLE OF CONTENTS
 


2



PART I – FINANCIAL INFORMATION
 
Item 1.
Financial Statements (unaudited)

Cott Corporation
Consolidated Statements of Operations
(in millions of U.S. dollars, except share and per share amounts)
Unaudited
 
For the Three Months Ended
 
For the Nine Months Ended
 
September 28, 2019
 
September 29, 2018
 
September 28, 2019
 
September 29, 2018
Revenue, net
$
616.1

 
$
609.3

 
$
1,794.3

 
$
1,773.7

Cost of sales
289.9

 
298.8

 
872.1

 
888.3

Gross profit
326.2

 
310.5

 
922.2

 
885.4

Selling, general and administrative expenses
280.8

 
279.9

 
837.1

 
816.2

Loss on disposal of property, plant and equipment, net
1.1

 
1.2

 
4.6

 
3.8

Acquisition and integration expenses
2.7

 
1.6

 
10.2

 
10.8

Operating income
41.6

 
27.8

 
70.3

 
54.6

Other expense (income), net
3.8

 
(0.6
)
 
6.9

 
(33.0
)
Interest expense, net
20.2

 
18.9

 
58.6

 
58.3

Income from continuing operations before income taxes
17.6

 
9.5

 
4.8

 
29.3

Income tax expense
9.0

 
1.0

 
11.5

 
4.0

Net income (loss) from continuing operations
$
8.6

 
$
8.5

 
$
(6.7
)
 
$
25.3

Net income from discontinued operations, net of income taxes
1.5

 
1.5

 
1.5

 
357.5

Net income (loss)
$
10.1

 
$
10.0

 
$
(5.2
)
 
$
382.8

Less: Net income attributable to non-controlling interests - discontinued operations

 

 

 
0.6

Net income (loss) attributable to Cott Corporation
$
10.1

 
$
10.0

 
$
(5.2
)
 
$
382.2

Net income (loss) per common share attributable to Cott Corporation
 
 
 
 
 
 
 
Basic:
 
 
 
 
 
 
 
Continuing operations
$
0.06

 
$
0.06

 
$
(0.05
)
 
$
0.18

Discontinued operations
$
0.01

 
$
0.01

 
$
0.01

 
$
2.56

Net income (loss)
$
0.07

 
$
0.07

 
$
(0.04
)
 
$
2.74

Diluted:
 
 
 
 
 
 
 
Continuing operations
$
0.06

 
$
0.06

 
$
(0.05
)
 
$
0.18

Discontinued operations
$
0.01

 
$
0.01

 
$
0.01

 
$
2.51

Net income (loss)
$
0.07

 
$
0.07

 
$
(0.04
)
 
$
2.69

Weighted average common shares outstanding (in thousands)
 
 
 
 
 
 
 
Basic
134,667

 
138,787

 
135,395

 
139,503

Diluted
136,208

 
141,176

 
135,395

 
141,963


The accompanying notes are an integral part of these consolidated financial statements.


3



Cott Corporation
Condensed Consolidated Statements of Comprehensive Income
(in millions of U.S. dollars)
Unaudited
 
For the Three Months Ended
 
For the Nine Months Ended
 
September 28, 2019
 
September 29, 2018
 
September 28, 2019
 
September 29, 2018
Net income (loss)
$
10.1

 
$
10.0

 
$
(5.2
)
 
$
382.8

Other comprehensive (loss) income:
 
 
 
 
 
 
 
Currency translation adjustment
(0.8
)
 
5.1

 
6.3

 
(3.6
)
Pension benefit plan, net of tax 1

 

 

 
16.9

(Loss) income on derivative instruments, net of tax 2
(1.0
)
 
(5.7
)
 
6.0

 
(10.0
)
Total other comprehensive (loss) income
(1.8
)
 
(0.6
)
 
12.3

 
3.3

Comprehensive income
$
8.3

 
$
9.4

 
$
7.1

 
$
386.1

Less: Comprehensive income attributable to non-controlling interests

 

 

 
0.6

Comprehensive income attributable to Cott Corporation
$
8.3

 
$
9.4

 
$
7.1

 
$
385.5

______________________
1
Net of $3.6 million of associated tax impact that resulted in an increase in the gain on sale of discontinued operations for the nine months ended September 29, 2018.
2 
Net of the effect of $1.1 million tax benefit and $2.2 million tax expense for the three and nine months ended September 28, 2019, respectively, and $2.0 million and $2.4 million tax benefit for the three and nine months ended September 29, 2018, respectively.

The accompanying notes are an integral part of these consolidated financial statements.

4



Cott Corporation
Consolidated Balance Sheets
(in millions of U.S. dollars, except share amounts)
Unaudited
 
September 28, 2019
 
December 29, 2018
ASSETS
 
 
 
Current assets
 
 
 
Cash and cash equivalents
$
143.6

 
$
170.8

Accounts receivable, net of allowance of $8.6 ($9.6 as of December 29, 2018)
312.6

 
308.3

Inventories
126.2

 
129.6

Prepaid expenses and other current assets
29.1

 
27.2

Total current assets
611.5

 
635.9

Property, plant and equipment, net
640.9

 
624.7

Operating lease right-of-use-assets
198.6

 

Goodwill
1,152.2

 
1,143.9

Intangible assets, net
696.4

 
739.2

Deferred tax assets
0.1

 
0.1

Other long-term assets, net
21.1

 
31.7

Total assets
$
3,320.8

 
$
3,175.5

LIABILITIES AND EQUITY
 
 
 
Current liabilities
 
 
 
Short-term borrowings
$
96.3

 
$
89.0

Current maturities of long-term debt
5.1

 
3.0

Accounts payable and accrued liabilities
445.6

 
469.0

Current operating lease obligations
37.7

 

Total current liabilities
584.7

 
561.0

Long-term debt
1,243.0

 
1,250.2

Operating lease obligations
166.2

 

Deferred tax liabilities
126.4

 
124.3

Other long-term liabilities
58.6

 
69.6

Total liabilities
2,178.9

 
2,005.1

Equity
 
 
 
Common shares, no par value - 134,670,538 (December 29, 2018 - 136,195,108) shares issued
890.5

 
899.4

Additional paid-in-capital
75.8

 
73.9

Retained earnings
265.0

 
298.8

Accumulated other comprehensive loss
(89.4
)
 
(101.7
)
Total Cott Corporation equity
1,141.9

 
1,170.4

Total liabilities and equity
$
3,320.8

 
$
3,175.5


The accompanying notes are an integral part of these consolidated financial statements.


5



Cott Corporation
Consolidated Statements of Cash Flows
(in millions of U.S. dollars)
Unaudited
 
For the Three Months Ended
 
For the Nine Months Ended
 
September 28, 2019
 
September 29, 2018
 
September 28, 2019
 
September 29, 2018
Cash flows from operating activities of continuing operations:
 
 
 
 
 
 
 
Net income (loss)
$
10.1

 
$
10.0

 
$
(5.2
)
 
$
382.8

Net income from discontinued operations, net of income taxes
1.5

 
1.5

 
1.5

 
357.5

Net income (loss) from continuing operations
8.6

 
8.5

 
(6.7
)
 
25.3

Adjustments to reconcile net income (loss) from continuing operations to cash flows from operating activities:
 
 
 
 
 
 
 
Depreciation and amortization
48.0

 
49.6

 
142.1

 
145.7

Amortization of financing fees
0.9

 
0.9

 
2.6

 
2.6

Share-based compensation expense
1.7

 
6.8

 
8.5

 
14.6

Provision for deferred income taxes
6.0

 
0.1

 
0.8

 
2.8

Gain on extinguishment of debt

 

 

 
(7.1
)
Loss (gain) on sale of business

 

 
6.0

 
(6.0
)
Loss on disposal of property, plant and equipment, net
1.1

 
1.2

 
4.6

 
3.8

Other non-cash items
3.5

 
0.8

 
0.2

 
(1.4
)
Change in operating assets and liabilities, net of acquisitions:
 
 
 
 
 
 
 
Accounts receivable
(6.4
)
 
(21.8
)
 
(21.0
)
 
(41.0
)
Inventories
3.9

 
4.3

 
(12.2
)
 
(9.4
)
Prepaid expenses and other current assets
(0.8
)
 
(0.8
)
 
(2.1
)
 
(7.4
)
Other assets
0.2

 
0.2

 
1.5

 
1.4

Accounts payable and accrued liabilities and other liabilities
15.4

 
28.4

 
(7.1
)
 
22.2

Net cash provided by operating activities from continuing operations
82.1

 
78.2

 
117.2

 
146.1

Cash flows from investing activities of continuing operations:
 
 
 
 
 
 
 
Acquisitions, net of cash received
(5.2
)
 
(0.4
)
 
(47.7
)
 
(67.0
)
Additions to property, plant and equipment
(35.9
)
 
(36.3
)
 
(87.5
)
 
(95.0
)
Additions to intangible assets
(3.3
)
 
(2.7
)
 
(7.6
)
 
(6.9
)
Proceeds from sale of property, plant and equipment
0.5

 
0.8

 
2.9

 
3.7

Proceeds from sale of business, net of cash sold

 

 
50.5

 
12.8

Proceeds from sale of equity securities

 
7.9

 

 
7.9

Other investing activities
0.5

 
0.1

 
0.6

 
0.4

Net cash used in investing activities from continuing operations
(43.4
)
 
(30.6
)
 
(88.8
)
 
(144.1
)

6



Cash flows from financing activities of continuing operations:
 
 
 
 
 
 
 
Payments of long-term debt
(1.5
)
 
(0.2
)
 
(4.5
)
 
(263.5
)
Borrowings under ABL
1.2

 
0.4

 
64.1

 
1.4

Payments under ABL
(1.2
)
 
(0.4
)
 
(63.1
)
 
(1.4
)
Premiums and costs paid upon extinguishment of long-term debt

 

 

 
(12.5
)
Issuance of common shares
0.2

 
1.8

 
0.9

 
6.0

Common shares repurchased and canceled
(0.1
)
 
(24.4
)
 
(31.1
)
 
(46.1
)
Financing fees

 

 

 
(1.5
)
Dividends paid to common shareholders
(8.2
)
 
(8.3
)
 
(24.4
)
 
(25.1
)
Payment of deferred consideration for acquisitions

 

 
(0.2
)
 
(2.8
)
Other financing activities
2.0

 
1.9

 
5.4

 
4.0

Net cash used in financing activities from continuing operations
(7.6
)
 
(29.2
)
 
(52.9
)
 
(341.5
)
Cash flows from discontinued operations:
 
 
 
 
 
 
 
Operating activities of discontinued operations

 
(5.6
)
 
(3.2
)
 
(93.6
)
Investing activities of discontinued operations

 

 

 
1,228.6

Financing activities of discontinued operations

 

 

 
(769.7
)
Net cash (used in) provided by discontinued operations

 
(5.6
)
 
(3.2
)
 
365.3

Effect of exchange rate changes on cash
(0.9
)
 
0.5

 
0.5

 
(8.0
)
Net increase (decrease) in cash, cash equivalents and restricted cash
30.2

 
13.3

 
(27.2
)
 
17.8

Cash and cash equivalents and restricted cash, beginning of period
113.4

 
162.4

 
170.8

 
157.9

Cash and cash equivalents and restricted cash from continuing operations, end of period
$
143.6

 
$
175.7

 
$
143.6

 
$
175.7

Supplemental Non-cash Investing and Financing Activities:
 
 
 
 
 
 
 
Dividends payable
$

 
$

 
$
0.1

 
$
0.4

Additions to property, plant and equipment through accounts payable and accrued liabilities and other liabilities
13.3

 
13.5

 
17.0

 
17.5

Supplemental Disclosures of Cash Flow Information:
 
 
 
 
 
 
 
Cash paid for interest
$
3.0

 
$
0.7

 
$
53.3

 
$
47.1

Cash paid for income taxes, net
1.4

 
4.2

 
6.7

 
6.4


The accompanying notes are an integral part of these consolidated financial statements.


7



Cott Corporation
Consolidated Statements of Equity
(in millions of U.S. dollars, except share and per share amounts)
Unaudited

Cott Corporation Equity





Number of
Common
Shares
(In thousands)

Common Shares

Additional Paid-in-Capital

Retained
Earnings

Accumulated Other Comprehensive Loss

Non-Controlling Interests

Total Equity
Balance at June 29, 2019
134,638


$
890.0


$
74.4


$
263.1


$
(87.6
)

$


$
1,139.9

Net income

 

 

 
10.1

 

 

 
10.1

Other comprehensive loss, net of tax

 

 

 

 
(1.8
)
 

 
(1.8
)
Common shares dividends ($0.06 per common share)

 

 

 
(8.2
)
 

 

 
(8.2
)
Share-based compensation

 

 
1.7

 

 

 

 
1.7

Common shares repurchased and canceled
(4
)

(0.1
)









(0.1
)
Common shares issued - Equity Incentive Plan
13


0.2


(0.2
)








Common shares issued - Employee Stock Purchase Plan
24


0.4


(0.1
)







0.3

Balance at September 28, 2019
134,671


$
890.5


$
75.8


$
265.0


$
(89.4
)

$


$
1,141.9

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cott Corporation Equity
 
 
 
 

Number of
Common
Shares
(In thousands)
 
Common Shares
 
Additional Paid-in-Capital
 
Retained
Earnings
 
Accumulated Other Comprehensive Loss

Non-Controlling Interests

Total Equity
Balance at December 29, 2018
136,195


899.4


73.9


298.8


(101.7
)



1,170.4

Cumulative effect of changes in accounting principle, net of taxes






10.5






10.5

Net loss

 

 

 
(5.2
)
 

 

 
(5.2
)
Other comprehensive income, net of tax

 

 

 

 
12.3

 

 
12.3

Common shares dividends ($0.18 per common share)

 

 

 
(24.5
)
 

 

 
(24.5
)
Share-based compensation

 

 
8.5

 

 

 

 
8.5

Common shares repurchased and canceled
(2,215
)
 
(16.5
)
 

 
(14.6
)
 

 

 
(31.1
)
Common shares issued - Equity Incentive Plan
618

 
6.5

 
(6.5
)
 

 

 

 

Common shares issued - Dividend Reinvestment Plan
3

 

 

 

 

 

 

Common shares issued - Employee Stock Purchase Plan
70

 
1.1

 
(0.1
)
 

 

 

 
1.0

Balance at September 28, 2019
134,671

 
$
890.5

 
$
75.8

 
$
265.0

 
$
(89.4
)
 
$

 
$
1,141.9



Cott Corporation
Consolidated Statements of Equity
(in millions of U.S. dollars, except share and per share amounts)
Unaudited
 
Cott Corporation Equity

 

 
 
Number of
Common
Shares
(In thousands)

Common
Shares

Additional
Paid-in-
Capital

Retained
Earnings

Accumulated
Other
Comprehensive
Loss

Non-
Controlling
Interests

Total
Equity
Balance at June 30, 2018
139,435


$
918.4


$
67.3


$
333.4


$
(90.5
)

$


$
1,228.6

Net income

 

 

 
10.0

 

 

 
10.0

Other comprehensive income, net of tax

 

 

 

 
(0.6
)
 

 
(0.6
)
Common shares dividends ($0.06 per common share)

 

 

 
(8.3
)
 

 

 
(8.3
)
Share-based compensation

 

 
6.8

 

 

 

 
6.8

Common shares repurchased and canceled
(1,574
)

(10.5
)



(13.9
)





(24.4
)
Common shares issued - Equity Incentive Plan
221


3.0


(1.4
)







1.6

Common shares issued - Dividend Reinvestment Plan
3


0.1










0.1

Common shares issued - Employee Stock Purchase Plan
21


0.3










0.3

Balance at September 29, 2018
138,106


$
911.3


$
72.7


$
321.2


$
(91.1
)

$


$
1,214.1

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cott Corporation Equity
 
 
 
 
 
Number of
Common
Shares
(In thousands)

Common
Shares

Additional
Paid-in-
Capital

Retained
Earnings
(Accumulated
Deficit)

Accumulated
Other
Comprehensive
Loss

Non-
Controlling
Interests

Total
Equity
Balance at December 30, 2017
139,489


917.1


69.1


(12.2
)

(94.4
)

6.1


885.7

Net income

 

 

 
382.2

 

 
0.6

 
382.8

Other comprehensive income, net of tax

 

 

 

 
3.3

 

 
3.3

Common shares dividends ($0.18 per common share)

 

 

 
(25.5
)