Company Quick10K Filing
Quick10K
Constellation Brands
10-Q 2019-08-31 Quarter: 2019-08-31
10-Q 2019-05-31 Quarter: 2019-05-31
10-K 2019-02-28 Annual: 2019-02-28
10-Q 2018-11-30 Quarter: 2018-11-30
10-Q 2018-08-31 Quarter: 2018-08-31
10-Q 2018-05-31 Quarter: 2018-05-31
10-K 2018-02-28 Annual: 2018-02-28
10-Q 2017-11-30 Quarter: 2017-11-30
10-Q 2017-08-31 Quarter: 2017-08-31
10-Q 2017-05-31 Quarter: 2017-05-31
10-K 2017-02-28 Annual: 2017-02-28
10-Q 2016-11-30 Quarter: 2016-11-30
10-Q 2016-08-31 Quarter: 2016-08-31
10-Q 2016-05-31 Quarter: 2016-05-31
10-K 2016-02-29 Annual: 2016-02-29
10-Q 2015-11-30 Quarter: 2015-11-30
10-Q 2015-08-31 Quarter: 2015-08-31
10-Q 2015-05-31 Quarter: 2015-05-31
10-K 2015-02-28 Annual: 2015-02-28
10-Q 2014-11-30 Quarter: 2014-11-30
10-Q 2014-08-31 Quarter: 2014-08-31
10-Q 2014-05-31 Quarter: 2014-05-31
10-K 2014-02-28 Annual: 2014-02-28
10-Q 2013-11-30 Quarter: 2013-11-30
8-K 2019-10-04 Regulation FD, Other Events, Exhibits
8-K 2019-10-02 Earnings, Regulation FD, Exhibits
8-K 2019-09-24 Officers, Regulation FD, Exhibits
8-K 2019-08-26 Regulation FD
8-K 2019-08-12 Regulation FD, Other Events, Exhibits
8-K 2019-07-29 Other Events, Exhibits
8-K 2019-07-29 Regulation FD, Exhibits
8-K 2019-07-24 Other Events, Exhibits
8-K 2019-07-24 Regulation FD, Exhibits
8-K 2019-07-16 Shareholder Vote
8-K 2019-06-28 Off-BS Arrangement, Other Events, Exhibits
8-K 2019-06-27 Earnings, Regulation FD, Exhibits
8-K 2019-06-20 Earnings
8-K 2019-05-17 Other Events
8-K 2019-04-23 Officers, Regulation FD, Other Events, Exhibits
8-K 2019-04-18 Regulation FD, Other Events, Exhibits
8-K 2019-04-03 Enter Agreement, Exhibits
8-K 2019-04-03 Earnings, Regulation FD, Other Events, Exhibits
8-K 2019-04-02 Officers
8-K 2019-01-08 Earnings, Regulation FD, Exhibits
8-K 2019-01-07 Officers, Regulation FD, Exhibits
8-K 2018-11-01 Off-BS Arrangement, Regulation FD, Other Events, Exhibits
8-K 2018-10-29 Other Events, Exhibits
8-K 2018-10-22 Regulation FD, Exhibits
8-K 2018-10-22 Other Events, Exhibits
8-K 2018-10-19 Officers, Exhibits
8-K 2018-10-15 Officers, Regulation FD, Exhibits
8-K 2018-10-03 Earnings, Regulation FD, Exhibits
8-K 2018-10-02 Officers, Amend Bylaw, Exhibits
8-K 2018-09-20 Officers, Regulation FD, Exhibits
8-K 2018-09-14 Enter Agreement, Off-BS Arrangement, Exhibits
8-K 2018-08-22 Regulation FD, Exhibits
8-K 2018-08-15 Regulation FD, Exhibits
8-K 2018-08-14 Enter Agreement, Off-BS Arrangement, Exhibits
8-K 2018-08-10 Enter Agreement, Leave Agreement, Off-BS Arrangement, Exhibits
8-K 2018-07-17 Shareholder Vote
8-K 2018-06-28 Earnings, Regulation FD, Exhibits
8-K 2018-05-22 Regulation FD, Other Events, Exhibits
8-K 2018-04-23 Officers, Exhibits
8-K 2018-03-27 Officers, Exhibits
8-K 2018-03-20 Regulation FD, Other Events, Exhibits
8-K 2018-02-12 Officers, Amend Bylaw, Regulation FD, Exhibits
8-K 2018-02-07 Other Events, Exhibits
8-K 2018-01-29 Other Events, Exhibits
8-K 2018-01-18 Other Events
8-K 2018-01-03 Officers
PEP PepsiCo 189,512
SAM Boston Beer 5,097
COKE Coca Cola Bottling 3,238
FIZZ National Beverage 1,873
MGPI MGP Ingredients 803
BREW Craft Brew Alliance 194
EAST Eastside Distilling 47
BORN China New Borun 32
THST Truett-Hurst 7
FMX Mexican Economic Development 0
STZ 2019-08-31
Part I - Financial Information
Item 1. Financial Statements.
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 2. Unregistered Sales of Equity Securities and Use of Proceeds.
Item 4. Mine Safety Disclosures.
Item 6. Exhibits.
EX-10.5 stzex10-5_831201910q.htm
EX-10.6 stzex10-6_831201910q.htm
EX-10.7 stzex10-7_831201910q.htm
EX-31.1 stzex31-1_831201910q.htm
EX-31.2 stzex31-2_831201910q.htm
EX-32.1 stzex32-1_831201910q.htm
EX-32.2 stzex32-2_831201910q.htm

Constellation Brands Earnings 2019-08-31

STZ 10Q Quarterly Report

Balance SheetIncome StatementCash Flow

Document
false--02-29Q2202000000169181491000001136000000.010.010.010.01322000000300000003220000003000000018574017828322419185880112283218210.5000.2000.5000.2003400000189279665005800186049645005800 0000016918 2019-03-01 2019-08-31 0000016918 us-gaap:CommonClassAMember 2019-03-01 2019-08-31 0000016918 us-gaap:CommonClassBMember 2019-03-01 2019-08-31 0000016918 us-gaap:ConvertibleCommonStockMember 2019-09-30 0000016918 us-gaap:CommonClassBMember 2019-09-30 0000016918 us-gaap:CommonClassAMember 2019-09-30 0000016918 2019-02-28 0000016918 2019-08-31 0000016918 us-gaap:CommonClassAMember 2019-02-28 0000016918 us-gaap:CommonClassAMember 2019-08-31 0000016918 us-gaap:CommonClassBMember 2019-08-31 0000016918 us-gaap:CommonClassBMember 2019-02-28 0000016918 us-gaap:CommonClassBMember 2018-03-01 2018-08-31 0000016918 2018-06-01 2018-08-31 0000016918 2019-06-01 2019-08-31 0000016918 2018-03-01 2018-08-31 0000016918 us-gaap:CommonClassBMember 2018-06-01 2018-08-31 0000016918 us-gaap:CommonClassBMember 2019-06-01 2019-08-31 0000016918 us-gaap:CommonClassAMember 2018-06-01 2018-08-31 0000016918 us-gaap:CommonClassAMember 2018-03-01 2018-08-31 0000016918 us-gaap:CommonClassAMember 2019-06-01 2019-08-31 0000016918 2019-03-01 2019-05-31 0000016918 2018-03-01 2018-05-31 0000016918 us-gaap:NoncontrollingInterestMember 2018-03-01 2018-05-31 0000016918 us-gaap:TreasuryStockMember 2018-03-01 2018-05-31 0000016918 us-gaap:AdditionalPaidInCapitalMember 2019-03-01 2019-05-31 0000016918 us-gaap:CommonClassAMember us-gaap:CommonStockMember 2018-06-01 2018-08-31 0000016918 us-gaap:CommonClassAMember us-gaap:CommonStockMember 2018-03-01 2018-05-31 0000016918 us-gaap:CommonClassAMember us-gaap:CommonStockMember 2019-02-28 0000016918 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-03-01 2019-05-31 0000016918 us-gaap:AdditionalPaidInCapitalMember 2019-06-01 2019-08-31 0000016918 us-gaap:NoncontrollingInterestMember 2019-03-01 2019-05-31 0000016918 us-gaap:RetainedEarningsMember 2019-03-01 2019-05-31 0000016918 us-gaap:TreasuryStockMember 2019-06-01 2019-08-31 0000016918 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-02-28 0000016918 us-gaap:RetainedEarningsMember 2018-05-31 0000016918 us-gaap:AdditionalPaidInCapitalMember 2018-03-01 2018-05-31 0000016918 us-gaap:NoncontrollingInterestMember 2019-08-31 0000016918 us-gaap:NoncontrollingInterestMember 2018-06-01 2018-08-31 0000016918 us-gaap:CommonClassBMember us-gaap:CommonStockMember 2019-03-01 2019-05-31 0000016918 us-gaap:TreasuryStockMember 2018-06-01 2018-08-31 0000016918 us-gaap:RetainedEarningsMember 2018-06-01 2018-08-31 0000016918 us-gaap:AdditionalPaidInCapitalMember 2018-06-01 2018-08-31 0000016918 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-06-01 2018-08-31 0000016918 us-gaap:CommonClassBMember us-gaap:CommonStockMember 2019-05-31 0000016918 us-gaap:CommonClassAMember us-gaap:CommonStockMember 2018-08-31 0000016918 us-gaap:RetainedEarningsMember 2019-05-31 0000016918 us-gaap:CommonClassAMember us-gaap:CommonStockMember 2019-06-01 2019-08-31 0000016918 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-06-01 2019-08-31 0000016918 us-gaap:CommonClassAMember us-gaap:CommonStockMember 2019-05-31 0000016918 us-gaap:TreasuryStockMember 2018-05-31 0000016918 us-gaap:CommonClassBMember us-gaap:CommonStockMember 2019-06-01 2019-08-31 0000016918 us-gaap:AdditionalPaidInCapitalMember 2018-08-31 0000016918 2018-05-31 0000016918 us-gaap:CommonClassAMember us-gaap:CommonStockMember 2018-02-28 0000016918 us-gaap:NoncontrollingInterestMember 2019-06-01 2019-08-31 0000016918 us-gaap:AdditionalPaidInCapitalMember 2019-02-28 0000016918 us-gaap:CommonClassBMember us-gaap:CommonStockMember 2018-02-28 0000016918 us-gaap:AccountingStandardsUpdate201616Member us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-03-01 0000016918 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-03-01 2018-05-31 0000016918 us-gaap:TreasuryStockMember 2019-08-31 0000016918 us-gaap:RetainedEarningsMember 2019-06-01 2019-08-31 0000016918 us-gaap:CommonClassBMember us-gaap:CommonStockMember 2018-03-01 2018-05-31 0000016918 us-gaap:CommonClassBMember us-gaap:CommonStockMember 2019-02-28 0000016918 us-gaap:AccountingStandardsUpdate201616Member us-gaap:TreasuryStockMember 2018-03-01 0000016918 us-gaap:CommonClassAMember us-gaap:CommonStockMember 2019-03-01 2019-05-31 0000016918 us-gaap:CommonClassBMember us-gaap:CommonStockMember 2019-08-31 0000016918 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-02-28 0000016918 us-gaap:AccountingStandardsUpdate201616Member us-gaap:RetainedEarningsMember 2018-03-01 0000016918 us-gaap:RetainedEarningsMember 2018-08-31 0000016918 us-gaap:AccountingStandardsUpdate201616Member us-gaap:CommonClassBMember us-gaap:CommonStockMember 2018-03-01 0000016918 us-gaap:TreasuryStockMember 2018-08-31 0000016918 us-gaap:NoncontrollingInterestMember 2019-05-31 0000016918 us-gaap:NoncontrollingInterestMember 2018-02-28 0000016918 us-gaap:RetainedEarningsMember 2019-02-28 0000016918 us-gaap:NoncontrollingInterestMember 2018-05-31 0000016918 us-gaap:CommonClassBMember us-gaap:CommonStockMember 2018-06-01 2018-08-31 0000016918 us-gaap:TreasuryStockMember 2019-03-01 2019-05-31 0000016918 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-08-31 0000016918 us-gaap:CommonClassBMember us-gaap:CommonStockMember 2018-08-31 0000016918 us-gaap:CommonClassBMember us-gaap:CommonStockMember 2018-05-31 0000016918 us-gaap:RetainedEarningsMember 2018-02-28 0000016918 us-gaap:AccountingStandardsUpdate201616Member 2018-03-01 0000016918 us-gaap:RetainedEarningsMember 2018-03-01 2018-05-31 0000016918 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-05-31 0000016918 2018-02-28 0000016918 us-gaap:NoncontrollingInterestMember 2019-02-28 0000016918 us-gaap:AccountingStandardsUpdate201616Member us-gaap:NoncontrollingInterestMember 2018-03-01 0000016918 us-gaap:AdditionalPaidInCapitalMember 2019-05-31 0000016918 us-gaap:TreasuryStockMember 2018-02-28 0000016918 us-gaap:RetainedEarningsMember 2019-08-31 0000016918 us-gaap:CommonClassAMember us-gaap:CommonStockMember 2018-05-31 0000016918 us-gaap:AdditionalPaidInCapitalMember 2018-05-31 0000016918 us-gaap:AdditionalPaidInCapitalMember 2018-02-28 0000016918 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-08-31 0000016918 us-gaap:TreasuryStockMember 2019-02-28 0000016918 2019-05-31 0000016918 us-gaap:CommonClassAMember us-gaap:CommonStockMember 2019-08-31 0000016918 us-gaap:AccountingStandardsUpdate201616Member us-gaap:AdditionalPaidInCapitalMember 2018-03-01 0000016918 2018-08-31 0000016918 us-gaap:AccountingStandardsUpdate201616Member us-gaap:CommonClassAMember us-gaap:CommonStockMember 2018-03-01 0000016918 us-gaap:AdditionalPaidInCapitalMember 2019-08-31 0000016918 us-gaap:TreasuryStockMember 2019-05-31 0000016918 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-05-31 0000016918 us-gaap:NoncontrollingInterestMember 2018-08-31 0000016918 us-gaap:AccountingStandardsUpdate201602Member 2019-03-01 0000016918 srt:MaximumMember us-gaap:DisposalGroupNotDiscontinuedOperationsMember stz:BlackVelvetTransactionMember us-gaap:SubsequentEventMember 2019-10-03 2019-10-03 0000016918 srt:MinimumMember us-gaap:DisposalGroupNotDiscontinuedOperationsMember stz:BlackVelvetTransactionMember us-gaap:SubsequentEventMember 2019-10-03 2019-10-03 0000016918 us-gaap:DisposalGroupNotDiscontinuedOperationsMember stz:BlackVelvetTransactionMember us-gaap:SubsequentEventMember 2019-10-03 0000016918 us-gaap:DisposalGroupNotDiscontinuedOperationsMember stz:WineandSpiritsTransactionMember us-gaap:SubsequentEventMember 2019-10-03 0000016918 us-gaap:OperatingSegmentsMember us-gaap:DisposalGroupNotDiscontinuedOperationsMember stz:WineandSpiritsTransactionMember stz:ConstellationwinesandspiritsMember 2019-03-01 2019-08-31 0000016918 us-gaap:OperatingSegmentsMember us-gaap:DisposalGroupNotDiscontinuedOperationsMember stz:WineandSpiritsTransactionMember stz:ConstellationwinesandspiritsMember us-gaap:SubsequentEventMember 2019-10-03 2019-10-03 0000016918 us-gaap:OperatingSegmentsMember us-gaap:DisposalGroupNotDiscontinuedOperationsMember stz:BlackVelvetTransactionMember stz:ConstellationwinesandspiritsMember 2019-08-31 0000016918 us-gaap:OperatingSegmentsMember us-gaap:DisposalGroupNotDiscontinuedOperationsMember stz:WineandSpiritsTransactionMember stz:ConstellationwinesandspiritsMember 2019-08-31 0000016918 us-gaap:OperatingSegmentsMember us-gaap:DisposalGroupNotDiscontinuedOperationsMember stz:ConstellationwinesandspiritsMember 2019-08-31 0000016918 us-gaap:OperatingSegmentsMember us-gaap:CostOfSalesMember us-gaap:ContractTerminationMember stz:ConstellationwinesandspiritsMember 2019-06-01 2019-08-31 0000016918 us-gaap:OperatingSegmentsMember stz:ConstellationwinesandspiritsMember 2019-06-01 2019-08-31 0000016918 us-gaap:OperatingSegmentsMember us-gaap:SellingGeneralAndAdministrativeExpensesMember us-gaap:OtherRestructuringMember stz:ConstellationwinesandspiritsMember 2019-03-01 2019-08-31 0000016918 us-gaap:OperatingSegmentsMember us-gaap:SellingGeneralAndAdministrativeExpensesMember stz:ImpairmentofLongLivedAssetsMember stz:ConstellationwinesandspiritsMember 2019-03-01 2019-08-31 0000016918 us-gaap:OperatingSegmentsMember us-gaap:SellingGeneralAndAdministrativeExpensesMember stz:ImpairmentofLongLivedAssetsMember stz:ConstellationwinesandspiritsMember 2019-06-01 2019-08-31 0000016918 us-gaap:OperatingSegmentsMember us-gaap:SellingGeneralAndAdministrativeExpensesMember us-gaap:OtherRestructuringMember stz:ConstellationwinesandspiritsMember 2019-06-01 2019-08-31 0000016918 us-gaap:OperatingSegmentsMember us-gaap:CostOfSalesMember us-gaap:ContractTerminationMember stz:ConstellationwinesandspiritsMember 2019-03-01 2019-08-31 0000016918 us-gaap:OperatingSegmentsMember us-gaap:CostOfSalesMember us-gaap:InventoriesMember stz:ConstellationwinesandspiritsMember 2019-06-01 2019-08-31 0000016918 us-gaap:OperatingSegmentsMember us-gaap:SellingGeneralAndAdministrativeExpensesMember us-gaap:EmployeeSeveranceMember stz:ConstellationwinesandspiritsMember 2019-03-01 2019-08-31 0000016918 us-gaap:OperatingSegmentsMember stz:ConstellationwinesandspiritsMember 2019-03-01 2019-08-31 0000016918 us-gaap:OperatingSegmentsMember us-gaap:SellingGeneralAndAdministrativeExpensesMember us-gaap:EmployeeSeveranceMember stz:ConstellationwinesandspiritsMember 2019-06-01 2019-08-31 0000016918 us-gaap:OperatingSegmentsMember us-gaap:CostOfSalesMember us-gaap:InventoriesMember stz:ConstellationwinesandspiritsMember 2019-03-01 2019-08-31 0000016918 us-gaap:OtherCurrentLiabilitiesMember us-gaap:ForeignExchangeContractMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-08-31 0000016918 us-gaap:OtherNoncurrentAssetsMember us-gaap:CommodityContractMember us-gaap:NondesignatedMember 2019-02-28 0000016918 us-gaap:OtherCurrentLiabilitiesMember us-gaap:CommodityContractMember us-gaap:NondesignatedMember 2019-08-31 0000016918 us-gaap:OtherNoncurrentAssetsMember us-gaap:ForeignExchangeContractMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-08-31 0000016918 us-gaap:OtherCurrentLiabilitiesMember us-gaap:InterestRateContractMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-08-31 0000016918 us-gaap:OtherNoncurrentAssetsMember us-gaap:ForeignExchangeContractMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-02-28 0000016918 us-gaap:OtherCurrentAssetsMember us-gaap:ForeignExchangeContractMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-08-31 0000016918 us-gaap:OtherNoncurrentAssetsMember us-gaap:CommodityContractMember us-gaap:NondesignatedMember 2019-08-31 0000016918 us-gaap:OtherCurrentAssetsMember us-gaap:InterestRateContractMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-02-28 0000016918 us-gaap:OtherCurrentAssetsMember us-gaap:InterestRateContractMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-08-31 0000016918 us-gaap:OtherCurrentLiabilitiesMember us-gaap:CommodityContractMember us-gaap:NondesignatedMember 2019-02-28 0000016918 us-gaap:OtherNoncurrentLiabilitiesMember us-gaap:ForeignExchangeContractMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-02-28 0000016918 us-gaap:OtherNoncurrentLiabilitiesMember us-gaap:CommodityContractMember us-gaap:NondesignatedMember 2019-02-28 0000016918 us-gaap:OtherCurrentAssetsMember us-gaap:ForeignExchangeContractMember us-gaap:NondesignatedMember 2019-08-31 0000016918 us-gaap:OtherCurrentAssetsMember us-gaap:CommodityContractMember us-gaap:NondesignatedMember 2019-08-31 0000016918 us-gaap:OtherCurrentAssetsMember us-gaap:ForeignExchangeContractMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-02-28 0000016918 us-gaap:OtherNoncurrentLiabilitiesMember us-gaap:ForeignExchangeContractMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-08-31 0000016918 us-gaap:OtherCurrentLiabilitiesMember us-gaap:InterestRateContractMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-02-28 0000016918 us-gaap:OtherCurrentLiabilitiesMember us-gaap:ForeignExchangeContractMember us-gaap:NondesignatedMember 2019-08-31 0000016918 us-gaap:OtherNoncurrentLiabilitiesMember us-gaap:CommodityContractMember us-gaap:NondesignatedMember 2019-08-31 0000016918 us-gaap:OtherCurrentLiabilitiesMember us-gaap:ForeignExchangeContractMember us-gaap:NondesignatedMember 2019-02-28 0000016918 us-gaap:OtherCurrentLiabilitiesMember us-gaap:ForeignExchangeContractMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-02-28 0000016918 us-gaap:OtherCurrentAssetsMember us-gaap:ForeignExchangeContractMember us-gaap:NondesignatedMember 2019-02-28 0000016918 us-gaap:OtherCurrentAssetsMember us-gaap:CommodityContractMember us-gaap:NondesignatedMember 2019-02-28 0000016918 us-gaap:ForeignExchangeContractMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-02-28 0000016918 us-gaap:CommodityContractMember us-gaap:NondesignatedMember 2019-08-31 0000016918 us-gaap:ForeignExchangeContractMember us-gaap:NondesignatedMember 2019-02-28 0000016918 us-gaap:InterestRateContractMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-02-28 0000016918 us-gaap:ForeignExchangeContractMember us-gaap:NondesignatedMember 2019-08-31 0000016918 us-gaap:InterestRateContractMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-08-31 0000016918 us-gaap:ForeignExchangeContractMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-08-31 0000016918 us-gaap:CommodityContractMember us-gaap:NondesignatedMember 2019-02-28 0000016918 us-gaap:ForeignExchangeContractMember us-gaap:SellingGeneralAndAdministrativeExpensesMember 2019-03-01 2019-08-31 0000016918 us-gaap:ForeignExchangeContractMember us-gaap:SellingGeneralAndAdministrativeExpensesMember 2018-03-01 2018-08-31 0000016918 us-gaap:CommodityContractMember us-gaap:CostOfSalesMember 2019-03-01 2019-08-31 0000016918 us-gaap:CommodityContractMember us-gaap:CostOfSalesMember 2019-06-01 2019-08-31 0000016918 us-gaap:InterestRateContractMember us-gaap:InterestExpenseMember 2018-03-01 2018-08-31 0000016918 us-gaap:ForeignExchangeContractMember us-gaap:SellingGeneralAndAdministrativeExpensesMember 2018-06-01 2018-08-31 0000016918 us-gaap:CommodityContractMember us-gaap:CostOfSalesMember 2018-06-01 2018-08-31 0000016918 us-gaap:CommodityContractMember us-gaap:CostOfSalesMember 2018-03-01 2018-08-31 0000016918 us-gaap:ForeignExchangeContractMember us-gaap:SellingGeneralAndAdministrativeExpensesMember 2019-06-01 2019-08-31 0000016918 us-gaap:InterestRateContractMember us-gaap:InterestExpenseMember 2018-06-01 2018-08-31 0000016918 us-gaap:ForeignExchangeContractMember us-gaap:CashFlowHedgingMember us-gaap:CostOfSalesMember 2018-03-01 2018-08-31 0000016918 us-gaap:ForeignExchangeContractMember us-gaap:CashFlowHedgingMember us-gaap:SalesMember 2019-03-01 2019-08-31 0000016918 us-gaap:CashFlowHedgingMember 2018-03-01 2018-08-31 0000016918 us-gaap:ForeignExchangeContractMember us-gaap:CashFlowHedgingMember us-gaap:SalesMember 2018-06-01 2018-08-31 0000016918 us-gaap:InterestRateContractMember us-gaap:CashFlowHedgingMember us-gaap:InterestExpenseMember 2019-03-01 2019-08-31 0000016918 us-gaap:CashFlowHedgingMember 2019-03-01 2019-08-31 0000016918 us-gaap:ForeignExchangeContractMember us-gaap:CashFlowHedgingMember us-gaap:CostOfSalesMember 2019-03-01 2019-08-31 0000016918 us-gaap:CashFlowHedgingMember 2019-06-01 2019-08-31 0000016918 us-gaap:ForeignExchangeContractMember us-gaap:CashFlowHedgingMember 2018-03-01 2018-08-31 0000016918 us-gaap:ForeignExchangeContractMember us-gaap:CashFlowHedgingMember 2019-03-01 2019-08-31 0000016918 us-gaap:CashFlowHedgingMember 2018-06-01 2018-08-31 0000016918 us-gaap:InterestRateContractMember us-gaap:CashFlowHedgingMember us-gaap:InterestExpenseMember 2019-06-01 2019-08-31 0000016918 us-gaap:ForeignExchangeContractMember us-gaap:CashFlowHedgingMember us-gaap:CostOfSalesMember 2019-06-01 2019-08-31 0000016918 us-gaap:ForeignExchangeContractMember us-gaap:CashFlowHedgingMember us-gaap:CostOfSalesMember 2018-06-01 2018-08-31 0000016918 us-gaap:ForeignExchangeContractMember us-gaap:CashFlowHedgingMember us-gaap:SalesMember 2018-03-01 2018-08-31 0000016918 us-gaap:ForeignExchangeContractMember us-gaap:CashFlowHedgingMember us-gaap:SalesMember 2019-06-01 2019-08-31 0000016918 us-gaap:ForeignExchangeContractMember us-gaap:CashFlowHedgingMember 2019-06-01 2019-08-31 0000016918 us-gaap:ForeignExchangeContractMember us-gaap:CashFlowHedgingMember 2018-06-01 2018-08-31 0000016918 us-gaap:InterestRateContractMember us-gaap:CashFlowHedgingMember 2019-03-01 2019-08-31 0000016918 us-gaap:InterestRateContractMember us-gaap:CashFlowHedgingMember 2019-06-01 2019-08-31 0000016918 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsNonrecurringMember 2019-08-31 0000016918 us-gaap:FairValueMeasurementsNonrecurringMember 2019-03-01 2019-08-31 0000016918 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember 2019-08-31 0000016918 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:TrademarksMember 2019-08-31 0000016918 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsNonrecurringMember 2019-08-31 0000016918 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:TrademarksMember 2019-08-31 0000016918 us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:TrademarksMember 2019-03-01 2019-08-31 0000016918 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:TrademarksMember 2019-08-31 0000016918 us-gaap:ConvertibleDebtSecuritiesMember 2018-03-01 2018-08-31 0000016918 stz:November2017CanopyWarrantsMember us-gaap:WarrantMember 2018-06-01 2018-08-31 0000016918 stz:November2017CanopyWarrantsMember us-gaap:WarrantMember 2019-06-01 2019-08-31 0000016918 stz:November2017CanopyInvestmentMember us-gaap:EquitySecuritiesMember 2019-06-01 2019-08-31 0000016918 us-gaap:ConvertibleDebtSecuritiesMember 2019-03-01 2019-08-31 0000016918 stz:November2017CanopyInvestmentMember us-gaap:EquitySecuritiesMember 2018-03-01 2018-08-31 0000016918 stz:NewNovember2018CanopyWarrantsMember us-gaap:WarrantMember 2019-06-01 2019-08-31 0000016918 stz:November2018CanopyWarrantsMember us-gaap:WarrantMember 2018-06-01 2018-08-31 0000016918 stz:November2018CanopyWarrantsMember us-gaap:WarrantMember 2018-03-01 2018-08-31 0000016918 stz:November2017CanopyWarrantsMember us-gaap:WarrantMember 2018-03-01 2018-08-31 0000016918 us-gaap:ConvertibleDebtSecuritiesMember 2019-06-01 2019-08-31 0000016918 us-gaap:ConvertibleDebtSecuritiesMember 2018-06-01 2018-08-31 0000016918 stz:November2017CanopyInvestmentMember us-gaap:EquitySecuritiesMember 2019-03-01 2019-08-31 0000016918 stz:NewNovember2018CanopyWarrantsMember us-gaap:WarrantMember 2019-03-01 2019-08-31 0000016918 stz:November2017CanopyInvestmentMember us-gaap:EquitySecuritiesMember 2018-06-01 2018-08-31 0000016918 stz:November2017CanopyWarrantsMember us-gaap:WarrantMember 2019-03-01 2019-08-31 0000016918 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ForeignExchangeContractMember 2019-08-31 0000016918 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:EquitySecuritiesMember 2019-08-31 0000016918 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:InterestRateContractMember 2019-08-31 0000016918 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CommodityContractMember 2019-08-31 0000016918 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:EquitySecuritiesMember 2019-02-28 0000016918 us-gaap:FairValueMeasurementsRecurringMember us-gaap:CommodityContractMember 2019-02-28 0000016918 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:EquitySecuritiesMember 2019-02-28 0000016918 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CommodityContractMember 2019-02-28 0000016918 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ForeignExchangeContractMember 2019-02-28 0000016918 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ConvertibleDebtSecuritiesMember 2019-08-31 0000016918 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ForeignExchangeContractMember 2019-08-31 0000016918 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ForeignExchangeContractMember 2019-02-28 0000016918 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CommodityContractMember 2019-02-28 0000016918 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:InterestRateContractMember 2019-08-31 0000016918 us-gaap:FairValueMeasurementsRecurringMember us-gaap:EquitySecuritiesMember 2019-08-31 0000016918 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CommodityContractMember 2019-02-28 0000016918 us-gaap:FairValueMeasurementsRecurringMember us-gaap:ForeignExchangeContractMember 2019-02-28 0000016918 us-gaap:FairValueMeasurementsRecurringMember us-gaap:CommodityContractMember 2019-08-31 0000016918 us-gaap:FairValueMeasurementsRecurringMember us-gaap:InterestRateContractMember 2019-08-31 0000016918 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ForeignExchangeContractMember 2019-08-31 0000016918 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CommodityContractMember 2019-08-31 0000016918 us-gaap:FairValueMeasurementsRecurringMember us-gaap:EquitySecuritiesMember 2019-02-28 0000016918 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ForeignExchangeContractMember 2019-02-28 0000016918 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ConvertibleDebtSecuritiesMember 2019-08-31 0000016918 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:InterestRateContractMember 2019-08-31 0000016918 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CommodityContractMember 2019-08-31 0000016918 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:EquitySecuritiesMember 2019-08-31 0000016918 us-gaap:FairValueMeasurementsRecurringMember us-gaap:ConvertibleDebtSecuritiesMember 2019-08-31 0000016918 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ConvertibleDebtSecuritiesMember 2019-08-31 0000016918 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ConvertibleDebtSecuritiesMember 2019-02-28 0000016918 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:EquitySecuritiesMember 2019-02-28 0000016918 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ConvertibleDebtSecuritiesMember 2019-02-28 0000016918 us-gaap:FairValueMeasurementsRecurringMember us-gaap:ForeignExchangeContractMember 2019-08-31 0000016918 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:EquitySecuritiesMember 2019-08-31 0000016918 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ConvertibleDebtSecuritiesMember 2019-02-28 0000016918 us-gaap:FairValueMeasurementsRecurringMember us-gaap:ConvertibleDebtSecuritiesMember 2019-02-28 0000016918 us-gaap:FairValueInputsLevel2Member us-gaap:ConvertibleDebtSecuritiesMember us-gaap:MeasurementInputPriceVolatilityMember 2019-02-28 0000016918 us-gaap:FairValueInputsLevel2Member us-gaap:ConvertibleDebtSecuritiesMember us-gaap:MeasurementInputSharePriceMember 2019-08-31 0000016918 us-gaap:FairValueInputsLevel2Member us-gaap:ConvertibleDebtSecuritiesMember us-gaap:MeasurementInputExpectedDividendRateMember 2019-08-31 0000016918 us-gaap:FairValueInputsLevel2Member us-gaap:ConvertibleDebtSecuritiesMember us-gaap:MeasurementInputRiskFreeInterestRateMember 2019-08-31 0000016918 us-gaap:FairValueInputsLevel2Member us-gaap:ConvertibleDebtSecuritiesMember us-gaap:MeasurementInputExpectedDividendRateMember 2019-02-28 0000016918 us-gaap:FairValueInputsLevel2Member us-gaap:ConvertibleDebtSecuritiesMember us-gaap:MeasurementInputConversionPriceMember 2019-02-28 0000016918 us-gaap:FairValueInputsLevel2Member us-gaap:ConvertibleDebtSecuritiesMember us-gaap:MeasurementInputSharePriceMember 2019-02-28 0000016918 us-gaap:FairValueInputsLevel2Member us-gaap:ConvertibleDebtSecuritiesMember us-gaap:MeasurementInputPriceVolatilityMember 2019-08-31 0000016918 us-gaap:FairValueInputsLevel2Member us-gaap:ConvertibleDebtSecuritiesMember us-gaap:MeasurementInputRiskFreeInterestRateMember 2019-02-28 0000016918 us-gaap:FairValueInputsLevel2Member us-gaap:ConvertibleDebtSecuritiesMember us-gaap:MeasurementInputExpectedTermMember 2019-02-28 2019-02-28 0000016918 us-gaap:FairValueInputsLevel2Member us-gaap:ConvertibleDebtSecuritiesMember us-gaap:MeasurementInputExpectedTermMember 2019-08-31 2019-08-31 0000016918 us-gaap:FairValueInputsLevel2Member us-gaap:ConvertibleDebtSecuritiesMember us-gaap:MeasurementInputConversionPriceMember 2019-08-31 0000016918 us-gaap:ConvertibleDebtSecuritiesMember 2018-06-30 2018-06-30 0000016918 us-gaap:OperatingSegmentsMember us-gaap:DisposalGroupNotDiscontinuedOperationsMember us-gaap:FairValueMeasurementsNonrecurringMember stz:WineandSpiritsTransactionMember stz:ConstellationwinesandspiritsMember 2019-08-31 0000016918 us-gaap:EstimateOfFairValueFairValueDisclosureMember 2019-08-31 0000016918 us-gaap:EstimateOfFairValueFairValueDisclosureMember 2019-02-28 0000016918 us-gaap:OperatingSegmentsMember us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:TrademarksMember stz:BeerMember 2019-08-31 0000016918 us-gaap:CarryingReportedAmountFairValueDisclosureMember 2019-02-28 0000016918 us-gaap:OperatingSegmentsMember us-gaap:DisposalGroupNotDiscontinuedOperationsMember us-gaap:FairValueMeasurementsNonrecurringMember stz:WineandSpiritsTransactionMember stz:ConstellationwinesandspiritsMember 2019-03-01 2019-08-31 0000016918 us-gaap:CarryingReportedAmountFairValueDisclosureMember 2019-08-31 0000016918 us-gaap:OperatingSegmentsMember us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:TrademarksMember stz:BeerMember 2019-03-01 2019-08-31 0000016918 stz:NewTrancheAWarrantsMember us-gaap:FairValueInputsLevel2Member us-gaap:WarrantMember us-gaap:MeasurementInputExpectedTermMember 2019-08-31 0000016918 stz:November2017CanopyWarrantsMember us-gaap:FairValueInputsLevel2Member us-gaap:WarrantMember us-gaap:MeasurementInputExpectedTermMember 2019-08-31 0000016918 stz:NewTrancheAWarrantsMember us-gaap:FairValueInputsLevel2Member us-gaap:WarrantMember us-gaap:MeasurementInputSharePriceMember 2019-08-31 0000016918 stz:November2017CanopyWarrantsMember us-gaap:FairValueInputsLevel2Member us-gaap:WarrantMember us-gaap:MeasurementInputRiskFreeInterestRateMember 2019-02-28 0000016918 stz:November2017CanopyWarrantsMember us-gaap:FairValueInputsLevel2Member us-gaap:WarrantMember us-gaap:MeasurementInputExpectedDividendRateMember 2019-08-31 0000016918 stz:November2018CanopyWarrantsMember us-gaap:FairValueInputsLevel2Member us-gaap:WarrantMember us-gaap:MeasurementInputExpectedTermMember 2019-02-28 0000016918 stz:November2018CanopyWarrantsMember us-gaap:FairValueInputsLevel2Member us-gaap:WarrantMember us-gaap:MeasurementInputPriceVolatilityMember 2019-02-28 0000016918 stz:November2017CanopyWarrantsMember us-gaap:FairValueInputsLevel2Member us-gaap:WarrantMember us-gaap:MeasurementInputSharePriceMember 2019-08-31 0000016918 stz:NewTrancheAWarrantsMember us-gaap:FairValueInputsLevel2Member us-gaap:WarrantMember us-gaap:MeasurementInputRiskFreeInterestRateMember 2019-08-31 0000016918 stz:November2017CanopyWarrantsMember us-gaap:FairValueInputsLevel2Member us-gaap:WarrantMember us-gaap:MeasurementInputExpectedDividendRateMember 2019-02-28 0000016918 stz:NewTrancheBWarrantsMember us-gaap:FairValueInputsLevel2Member us-gaap:WarrantMember us-gaap:MeasurementInputSharePriceMember 2019-08-31 0000016918 stz:November2018CanopyWarrantsMember us-gaap:FairValueInputsLevel2Member us-gaap:WarrantMember us-gaap:MeasurementInputRiskFreeInterestRateMember 2019-02-28 0000016918 stz:November2017CanopyWarrantsMember us-gaap:FairValueInputsLevel2Member us-gaap:WarrantMember us-gaap:MeasurementInputExpectedTermMember 2019-02-28 0000016918 stz:November2018CanopyWarrantsMember us-gaap:FairValueInputsLevel2Member us-gaap:WarrantMember us-gaap:MeasurementInputExercisePriceMember 2019-02-28 0000016918 stz:NewTrancheBWarrantsMember us-gaap:FairValueInputsLevel2Member us-gaap:WarrantMember us-gaap:MeasurementInputExpectedTermMember 2019-08-31 0000016918 stz:November2017CanopyWarrantsMember us-gaap:FairValueInputsLevel2Member us-gaap:WarrantMember us-gaap:MeasurementInputExercisePriceMember 2019-02-28 0000016918 stz:NewTrancheBWarrantsMember us-gaap:FairValueInputsLevel2Member us-gaap:WarrantMember us-gaap:MeasurementInputExercisePriceMember 2019-08-31 0000016918 stz:November2018CanopyWarrantsMember us-gaap:FairValueInputsLevel2Member us-gaap:WarrantMember us-gaap:MeasurementInputExpectedDividendRateMember 2019-02-28 0000016918 stz:November2018CanopyWarrantsMember us-gaap:FairValueInputsLevel2Member us-gaap:WarrantMember us-gaap:MeasurementInputSharePriceMember 2019-02-28 0000016918 stz:November2017CanopyWarrantsMember us-gaap:FairValueInputsLevel2Member us-gaap:WarrantMember us-gaap:MeasurementInputPriceVolatilityMember 2019-02-28 0000016918 stz:November2017CanopyWarrantsMember us-gaap:FairValueInputsLevel2Member us-gaap:WarrantMember us-gaap:MeasurementInputExercisePriceMember 2019-08-31 0000016918 stz:November2017CanopyWarrantsMember us-gaap:FairValueInputsLevel2Member us-gaap:WarrantMember us-gaap:MeasurementInputPriceVolatilityMember 2019-08-31 0000016918 stz:NewTrancheBWarrantsMember us-gaap:FairValueInputsLevel2Member us-gaap:WarrantMember us-gaap:MeasurementInputRiskFreeInterestRateMember 2019-08-31 0000016918 stz:NewTrancheBWarrantsMember us-gaap:FairValueInputsLevel2Member us-gaap:WarrantMember us-gaap:MeasurementInputExpectedDividendRateMember 2019-08-31 0000016918 stz:NewTrancheBWarrantsMember us-gaap:FairValueInputsLevel2Member us-gaap:WarrantMember us-gaap:MeasurementInputPriceVolatilityMember 2019-08-31 0000016918 stz:November2017CanopyWarrantsMember us-gaap:FairValueInputsLevel2Member us-gaap:WarrantMember us-gaap:MeasurementInputRiskFreeInterestRateMember 2019-08-31 0000016918 stz:NewTrancheAWarrantsMember us-gaap:FairValueInputsLevel2Member us-gaap:WarrantMember us-gaap:MeasurementInputExpectedDividendRateMember 2019-08-31 0000016918 stz:NewTrancheAWarrantsMember us-gaap:FairValueInputsLevel2Member us-gaap:WarrantMember us-gaap:MeasurementInputPriceVolatilityMember 2019-08-31 0000016918 stz:November2017CanopyWarrantsMember us-gaap:FairValueInputsLevel2Member us-gaap:WarrantMember us-gaap:MeasurementInputSharePriceMember 2019-02-28 0000016918 stz:NewTrancheAWarrantsMember us-gaap:FairValueInputsLevel2Member us-gaap:WarrantMember us-gaap:MeasurementInputExercisePriceMember 2019-08-31 0000016918 stz:NewNovember2018CanopyWarrantsMember us-gaap:WarrantMember 2019-06-27 2019-06-27 0000016918 us-gaap:OperatingSegmentsMember stz:ConstellationwinesandspiritsMember 2019-08-31 0000016918 2018-03-01 2019-02-28 0000016918 us-gaap:OperatingSegmentsMember stz:BeerMember 2018-02-28 0000016918 us-gaap:OperatingSegmentsMember stz:ConstellationwinesandspiritsMember 2018-03-01 2019-02-28 0000016918 us-gaap:OperatingSegmentsMember stz:BeerMember 2018-03-01 2019-02-28 0000016918 us-gaap:OperatingSegmentsMember stz:BeerMember 2019-03-01 2019-08-31 0000016918 us-gaap:OperatingSegmentsMember stz:ConstellationwinesandspiritsMember 2018-02-28 0000016918 us-gaap:OperatingSegmentsMember stz:BeerMember 2019-08-31 0000016918 us-gaap:OperatingSegmentsMember stz:ConstellationwinesandspiritsMember 2019-02-28 0000016918 us-gaap:OperatingSegmentsMember stz:BeerMember 2019-02-28 0000016918 us-gaap:OtherIntangibleAssetsMember 2019-02-28 0000016918 us-gaap:CustomerRelationshipsMember 2019-08-31 0000016918 us-gaap:CustomerRelationshipsMember 2019-02-28 0000016918 us-gaap:OtherIntangibleAssetsMember 2019-08-31 0000016918 us-gaap:TrademarksMember 2019-08-31 0000016918 us-gaap:TrademarksMember 2019-02-28 0000016918 stz:NewTrancheAWarrantsMember us-gaap:FairValueInputsLevel2Member us-gaap:WarrantMember us-gaap:MeasurementInputRiskFreeInterestRateMember 2019-06-27 0000016918 stz:NewTrancheBWarrantsMember us-gaap:FairValueInputsLevel2Member us-gaap:WarrantMember us-gaap:MeasurementInputRiskFreeInterestRateMember 2019-06-27 0000016918 stz:NewTrancheBWarrantsMember us-gaap:FairValueInputsLevel2Member us-gaap:WarrantMember us-gaap:MeasurementInputSharePriceMember 2019-06-27 0000016918 stz:NewTrancheAWarrantsMember us-gaap:FairValueInputsLevel2Member us-gaap:WarrantMember us-gaap:MeasurementInputSharePriceMember 2019-06-27 0000016918 stz:NewTrancheAWarrantsMember us-gaap:FairValueInputsLevel2Member us-gaap:WarrantMember us-gaap:MeasurementInputExpectedTermMember 2019-06-27 0000016918 stz:NewTrancheAWarrantsMember us-gaap:FairValueInputsLevel2Member us-gaap:WarrantMember us-gaap:MeasurementInputExercisePriceMember 2019-06-27 0000016918 stz:NewTrancheBWarrantsMember us-gaap:FairValueInputsLevel2Member us-gaap:WarrantMember us-gaap:MeasurementInputPriceVolatilityMember 2019-06-27 0000016918 stz:NewTrancheAWarrantsMember us-gaap:FairValueInputsLevel2Member us-gaap:WarrantMember us-gaap:MeasurementInputPriceVolatilityMember 2019-06-27 0000016918 stz:NewTrancheBWarrantsMember us-gaap:FairValueInputsLevel2Member us-gaap:WarrantMember us-gaap:MeasurementInputExpectedDividendRateMember 2019-06-27 0000016918 stz:NewTrancheBWarrantsMember us-gaap:FairValueInputsLevel2Member us-gaap:WarrantMember us-gaap:MeasurementInputExercisePriceMember 2019-06-27 0000016918 stz:NewTrancheAWarrantsMember us-gaap:FairValueInputsLevel2Member us-gaap:WarrantMember us-gaap:MeasurementInputExpectedDividendRateMember 2019-06-27 0000016918 stz:NewTrancheBWarrantsMember us-gaap:FairValueInputsLevel2Member us-gaap:WarrantMember us-gaap:MeasurementInputExpectedTermMember 2019-06-27 0000016918 stz:CanopyEquityMethodInvestmentMember 2019-03-01 2019-08-31 0000016918 stz:CanopyEquityMethodInvestmentMember 2019-06-01 2019-08-31 0000016918 stz:CanopyEquityMethodInvestmentMember 2019-02-28 0000016918 stz:OtherEquityMethodInvestmentsMember 2019-02-28 0000016918 stz:CanopyEquityMethodInvestmentMember 2019-08-31 0000016918 stz:OtherEquityMethodInvestmentsMember 2019-08-31 0000016918 stz:TrancheAWarrantsMember us-gaap:WarrantMember 2018-11-01 0000016918 stz:November2017CanopyInvestmentMember 2017-11-30 0000016918 stz:NewNovember2018CanopyWarrantsMember 2019-06-27 2019-06-27 0000016918 stz:November2018CanopyInvestmentMember us-gaap:CommonStockMember 2018-11-01 0000016918 stz:NewTrancheBWarrantsandNewTrancheCWarrantsMember 2019-06-27 2019-06-27 0000016918 us-gaap:EquitySecuritiesMember 2017-11-01 2017-11-30 0000016918 stz:CanopyEquityMethodInvestmentMember 2018-11-01 0000016918 stz:November2017CanopyWarrantsMember us-gaap:WarrantMember 2017-11-30 0000016918 stz:TrancheBWarrantsMember us-gaap:WarrantMember 2018-11-01 0000016918 stz:NewTrancheBWarrantsMember us-gaap:WarrantMember 2019-06-27 2019-06-27 0000016918 stz:November2017CanopyInvestmentMember us-gaap:CommonStockMember 2017-11-30 0000016918 stz:NewTrancheCWarrantsMember us-gaap:WarrantMember 2019-06-27 0000016918 stz:NewTrancheAWarrantsMember us-gaap:WarrantMember 2019-06-27 2019-06-27 0000016918 stz:NewTrancheBWarrantsMember us-gaap:WarrantMember 2019-06-27 0000016918 srt:MaximumMember stz:NewTrancheBWarrantsandNewTrancheCWarrantsMember 2019-06-27 2019-06-27 0000016918 2019-06-27 2019-06-27 0000016918 us-gaap:EquitySecuritiesMember 2018-11-01 2018-11-01 0000016918 stz:NewNovember2018CanopyWarrantsMember us-gaap:WarrantMember 2019-06-27 0000016918 stz:November2018CanopyWarrantsMember us-gaap:WarrantMember 2018-11-01 0000016918 stz:CanopyWarrantsMember us-gaap:WarrantMember 2019-08-31 2019-08-31 0000016918 stz:NewTrancheAWarrantsMember us-gaap:WarrantMember 2019-06-27 0000016918 srt:MinimumMember stz:OtherEquityMethodInvestmentsMember 2019-02-28 0000016918 srt:MaximumMember stz:OtherEquityMethodInvestmentsMember 2019-08-31 0000016918 srt:MaximumMember stz:OtherEquityMethodInvestmentsMember 2019-02-28 0000016918 srt:MinimumMember stz:OtherEquityMethodInvestmentsMember 2019-08-31 0000016918 stz:ThreeYearTermFacilityMember us-gaap:UnsecuredDebtMember 2019-08-31 0000016918 stz:TermCreditAgreementMember us-gaap:UnsecuredDebtMember 2019-08-31 0000016918 us-gaap:RevolvingCreditFacilityMember 2019-08-31 0000016918 stz:FiveYearTermFacilityMember us-gaap:UnsecuredDebtMember 2019-08-31 0000016918 stz:A2019FiveYearTermFacilityMember us-gaap:UnsecuredDebtMember 2019-08-31 0000016918 us-gaap:InterestRateContractMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-06-30 0000016918 us-gaap:CommercialPaperMember 2019-08-31 0000016918 stz:ThreeYearTermFacilityMember us-gaap:UnsecuredDebtMember 2018-09-30 0000016918 stz:A2019FiveYearTermFacilityMember us-gaap:UnsecuredDebtMember 2019-06-30 0000016918 2018-09-30 0000016918 srt:MaximumMember us-gaap:CommercialPaperMember 2018-10-31 0000016918 stz:November2014SeniorNotesMember us-gaap:UnsecuredDebtMember 2014-11-30 0000016918 stz:TermCreditAgreementMember us-gaap:UnsecuredDebtMember 2018-09-30 0000016918 stz:July2019SeniorNotesMember us-gaap:UnsecuredDebtMember 2019-08-31 2019-08-31 0000016918 stz:FiveYearTermFacilityMember us-gaap:UnsecuredDebtMember 2019-03-01 2019-08-31 0000016918 stz:July2019SeniorNotesMember us-gaap:UnsecuredDebtMember 2019-07-31 0000016918 us-gaap:FinancialStandbyLetterOfCreditMember 2019-08-31 0000016918 stz:FiveYearTermFacilityMember us-gaap:UnsecuredDebtMember 2018-09-30 0000016918 stz:UnsecuredSeniorNotesMember us-gaap:UnsecuredDebtMember 2019-02-28 0000016918 stz:TermLoanCreditFacilitiesMember us-gaap:UnsecuredDebtMember 2019-08-31 0000016918 us-gaap:CommercialPaperMember 2019-02-28 0000016918 stz:UnsecuredSeniorNotesMember us-gaap:UnsecuredDebtMember 2019-08-31 0000016918 stz:SeniorcreditfacilityTermloanMember us-gaap:UnsecuredDebtMember 2019-08-31 0000016918 stz:TermLoanCreditFacilitiesMember us-gaap:UnsecuredDebtMember 2019-02-28 0000016918 us-gaap:RevolvingCreditFacilityMember 2019-02-28 0000016918 stz:SeniorcreditfacilityTermloanMember us-gaap:UnsecuredDebtMember 2019-02-28 0000016918 srt:MinimumMember us-gaap:SubsequentEventMember 2019-10-03 2019-10-03 0000016918 srt:MaximumMember us-gaap:SubsequentEventMember 2019-10-03 2019-10-03 0000016918 2019-08-31 2019-08-31 0000016918 us-gaap:OtherNoncurrentLiabilitiesMember 2019-08-31 0000016918 stz:CurrentMaturitiesofLongTermDebtMember 2019-08-31 0000016918 us-gaap:OtherNoncurrentAssetsMember 2019-08-31 0000016918 us-gaap:PropertyPlantAndEquipmentMember 2019-08-31 0000016918 us-gaap:OtherCurrentLiabilitiesMember 2019-08-31 0000016918 us-gaap:LongTermDebtMember 2019-08-31 0000016918 us-gaap:CommonClassBMember us-gaap:TreasuryStockMember 2019-02-28 0000016918 us-gaap:RestrictedStockUnitsRSUMember us-gaap:ConvertibleCommonStockMember us-gaap:CommonStockMember 2019-06-01 2019-08-31 0000016918 us-gaap:CommonClassBMember us-gaap:TreasuryStockMember 2018-02-28 0000016918 us-gaap:PerformanceSharesMember us-gaap:CommonClassAMember us-gaap:CommonStockMember 2018-03-01 2018-05-31 0000016918 us-gaap:RestrictedStockUnitsRSUMember us-gaap:CommonClassBMember us-gaap:TreasuryStockMember 2018-03-01 2018-05-31 0000016918 us-gaap:ConvertibleCommonStockMember us-gaap:CommonStockMember 2019-06-01 2019-08-31 0000016918 us-gaap:PerformanceSharesMember us-gaap:CommonClassBMember us-gaap:CommonStockMember 2019-03-01 2019-05-31 0000016918 us-gaap:CommonClassAMember us-gaap:TreasuryStockMember 2018-03-01 2018-05-31 0000016918 us-gaap:PerformanceSharesMember us-gaap:CommonClassAMember us-gaap:CommonStockMember 2019-03-01 2019-05-31 0000016918 us-gaap:CommonClassBMember us-gaap:TreasuryStockMember 2019-06-01 2019-08-31 0000016918 us-gaap:ConvertibleCommonStockMember us-gaap:CommonStockMember 2018-06-01 2018-08-31 0000016918 us-gaap:CommonClassAMember us-gaap:TreasuryStockMember 2019-06-01 2019-08-31 0000016918 us-gaap:CommonClassBMember us-gaap:TreasuryStockMember 2018-03-01 2018-05-31 0000016918 us-gaap:CommonClassBMember us-gaap:TreasuryStockMember 2018-06-01 2018-08-31 0000016918 us-gaap:RestrictedStockUnitsRSUMember us-gaap:CommonClassAMember us-gaap:TreasuryStockMember 2019-03-01 2019-05-31 0000016918 us-gaap:CommonClassBMember us-gaap:TreasuryStockMember 2018-08-31 0000016918 us-gaap:RestrictedStockUnitsRSUMember us-gaap:CommonClassBMember us-gaap:CommonStockMember 2019-06-01 2019-08-31 0000016918 us-gaap:RestrictedStockUnitsRSUMember us-gaap:CommonClassAMember us-gaap:TreasuryStockMember 2019-06-01 2019-08-31 0000016918 us-gaap:CommonClassAMember us-gaap:TreasuryStockMember 2019-05-31 0000016918 us-gaap:CommonClassAMember us-gaap:TreasuryStockMember 2018-08-31 0000016918 us-gaap:RestrictedStockMember us-gaap:CommonClassAMember us-gaap:CommonStockMember 2019-03-01 2019-05-31 0000016918 us-gaap:CommonClassAMember us-gaap:TreasuryStockMember 2019-02-28 0000016918 us-gaap:PerformanceSharesMember us-gaap:CommonClassBMember us-gaap:CommonStockMember 2018-03-01 2018-05-31 0000016918 us-gaap:RestrictedStockUnitsRSUMember us-gaap:CommonClassBMember us-gaap:TreasuryStockMember 2019-06-01 2019-08-31 0000016918 us-gaap:RestrictedStockUnitsRSUMember us-gaap:ConvertibleCommonStockMember us-gaap:CommonStockMember 2018-03-01 2018-05-31 0000016918 us-gaap:CommonClassAMember us-gaap:TreasuryStockMember 2019-03-01 2019-05-31 0000016918 us-gaap:RestrictedStockMember us-gaap:ConvertibleCommonStockMember us-gaap:CommonStockMember 2019-03-01 2019-05-31 0000016918 us-gaap:RestrictedStockUnitsRSUMember us-gaap:ConvertibleCommonStockMember us-gaap:CommonStockMember 2018-06-01 2018-08-31 0000016918 us-gaap:PerformanceSharesMember us-gaap:CommonClassAMember us-gaap:TreasuryStockMember 2018-03-01 2018-05-31 0000016918 us-gaap:PerformanceSharesMember us-gaap:CommonClassBMember us-gaap:TreasuryStockMember 2018-03-01 2018-05-31 0000016918 us-gaap:ConvertibleCommonStockMember us-gaap:CommonStockMember 2019-08-31 0000016918 us-gaap:CommonClassAMember us-gaap:TreasuryStockMember 2018-06-01 2018-08-31 0000016918 us-gaap:RestrictedStockUnitsRSUMember us-gaap:CommonClassAMember us-gaap:TreasuryStockMember 2018-03-01 2018-05-31 0000016918 us-gaap:CommonClassBMember us-gaap:TreasuryStockMember 2018-05-31 0000016918 us-gaap:PerformanceSharesMember us-gaap:ConvertibleCommonStockMember us-gaap:CommonStockMember 2019-03-01 2019-05-31 0000016918 us-gaap:CommonClassBMember us-gaap:TreasuryStockMember 2019-03-01 2019-05-31 0000016918 us-gaap:RestrictedStockUnitsRSUMember us-gaap:ConvertibleCommonStockMember us-gaap:CommonStockMember 2019-03-01 2019-05-31 0000016918 us-gaap:RestrictedStockUnitsRSUMember us-gaap:CommonClassAMember us-gaap:CommonStockMember 2019-03-01 2019-05-31 0000016918 us-gaap:PerformanceSharesMember us-gaap:CommonClassAMember us-gaap:TreasuryStockMember 2019-03-01 2019-05-31 0000016918 us-gaap:CommonClassAMember us-gaap:TreasuryStockMember 2018-02-28 0000016918 us-gaap:CommonClassAMember us-gaap:TreasuryStockMember 2019-08-31 0000016918 us-gaap:RestrictedStockUnitsRSUMember us-gaap:CommonClassBMember us-gaap:TreasuryStockMember 2018-06-01 2018-08-31 0000016918 us-gaap:RestrictedStockMember us-gaap:CommonClassAMember us-gaap:TreasuryStockMember 2019-03-01 2019-05-31 0000016918 us-gaap:ConvertibleCommonStockMember us-gaap:CommonStockMember 2018-03-01 2018-05-31 0000016918 us-gaap:RestrictedStockUnitsRSUMember us-gaap:CommonClassAMember us-gaap:TreasuryStockMember 2018-06-01 2018-08-31 0000016918 us-gaap:ConvertibleCommonStockMember us-gaap:CommonStockMember 2019-02-28 0000016918 us-gaap:RestrictedStockMember us-gaap:CommonClassBMember us-gaap:TreasuryStockMember 2019-03-01 2019-05-31 0000016918 us-gaap:RestrictedStockMember us-gaap:CommonClassBMember us-gaap:CommonStockMember 2019-03-01 2019-05-31 0000016918 us-gaap:RestrictedStockUnitsRSUMember us-gaap:CommonClassAMember us-gaap:CommonStockMember 2019-06-01 2019-08-31 0000016918 us-gaap:RestrictedStockUnitsRSUMember us-gaap:CommonClassBMember us-gaap:CommonStockMember 2019-03-01 2019-05-31 0000016918 us-gaap:CommonClassAMember us-gaap:TreasuryStockMember 2018-05-31 0000016918 us-gaap:ConvertibleCommonStockMember us-gaap:CommonStockMember 2018-02-28 0000016918 us-gaap:PerformanceSharesMember us-gaap:CommonClassBMember us-gaap:TreasuryStockMember 2019-03-01 2019-05-31 0000016918 us-gaap:ConvertibleCommonStockMember us-gaap:CommonStockMember 2018-08-31 0000016918 us-gaap:CommonClassBMember us-gaap:TreasuryStockMember 2019-08-31 0000016918 us-gaap:CommonClassBMember us-gaap:TreasuryStockMember 2019-05-31 0000016918 us-gaap:ConvertibleCommonStockMember us-gaap:CommonStockMember 2019-03-01 2019-05-31 0000016918 us-gaap:PerformanceSharesMember us-gaap:ConvertibleCommonStockMember us-gaap:CommonStockMember 2018-03-01 2018-05-31 0000016918 us-gaap:RestrictedStockUnitsRSUMember us-gaap:CommonClassBMember us-gaap:CommonStockMember 2018-06-01 2018-08-31 0000016918 us-gaap:ConvertibleCommonStockMember us-gaap:CommonStockMember 2019-05-31 0000016918 us-gaap:RestrictedStockUnitsRSUMember us-gaap:CommonClassBMember us-gaap:TreasuryStockMember 2019-03-01 2019-05-31 0000016918 us-gaap:ConvertibleCommonStockMember us-gaap:CommonStockMember 2018-05-31 0000016918 us-gaap:RestrictedStockUnitsRSUMember us-gaap:CommonClassBMember us-gaap:CommonStockMember 2018-03-01 2018-05-31 0000016918 us-gaap:RestrictedStockUnitsRSUMember us-gaap:CommonClassAMember us-gaap:CommonStockMember 2018-03-01 2018-05-31 0000016918 us-gaap:RestrictedStockUnitsRSUMember us-gaap:CommonClassAMember us-gaap:CommonStockMember 2018-06-01 2018-08-31 0000016918 stz:TwoThousandEighteenShareRepurchaseProgramMember us-gaap:CommonClassAMember 2019-03-01 2019-08-31 0000016918 stz:TwoThousandEighteenShareRepurchaseProgramMember stz:ClassAandClassBMember 2018-01-31 0000016918 stz:TwoThousandEighteenShareRepurchaseProgramMember us-gaap:CommonClassAMember 2019-08-31 2019-08-31 0000016918 us-gaap:RestrictedStockUnitsRSUMember us-gaap:CommonClassAMember us-gaap:TreasuryStockMember 2019-03-01 2019-08-31 0000016918 us-gaap:PerformanceSharesMember us-gaap:CommonClassAMember us-gaap:TreasuryStockMember 2019-03-01 2019-08-31 0000016918 us-gaap:RestrictedStockUnitsRSUMember us-gaap:CommonClassAMember us-gaap:TreasuryStockMember 2018-03-01 2018-08-31 0000016918 us-gaap:PerformanceSharesMember us-gaap:CommonClassAMember us-gaap:TreasuryStockMember 2018-03-01 2018-08-31 0000016918 us-gaap:PerformanceSharesMember us-gaap:CommonClassAMember us-gaap:TreasuryStockMember 2019-06-01 2019-08-31 0000016918 us-gaap:PerformanceSharesMember us-gaap:CommonClassAMember us-gaap:TreasuryStockMember 2018-06-01 2018-08-31 0000016918 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2018-03-01 2018-08-31 0000016918 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2019-06-01 2019-08-31 0000016918 us-gaap:EquityMethodInvestmentsMember 2019-06-01 2019-08-31 0000016918 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2019-03-01 2019-08-31 0000016918 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2018-06-01 2018-08-31 0000016918 us-gaap:AccumulatedTranslationAdjustmentMember 2018-03-01 2018-08-31 0000016918 us-gaap:EquityMethodInvestmentsMember 2019-03-01 2019-08-31 0000016918 us-gaap:AccumulatedTranslationAdjustmentMember 2019-06-01 2019-08-31 0000016918 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-03-01 2019-08-31 0000016918 us-gaap:ParentMember 2019-06-01 2019-08-31 0000016918 us-gaap:AccumulatedTranslationAdjustmentMember 2018-06-01 2018-08-31 0000016918 us-gaap:ParentMember 2018-06-01 2018-08-31 0000016918 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2019-03-01 2019-08-31 0000016918 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2019-06-01 2019-08-31 0000016918 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2018-03-01 2018-08-31 0000016918 us-gaap:AccumulatedTranslationAdjustmentMember 2019-03-01 2019-08-31 0000016918 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-03-01 2018-08-31 0000016918 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2018-03-01 2018-08-31 0000016918 us-gaap:ParentMember 2019-03-01 2019-08-31 0000016918 us-gaap:ParentMember 2018-03-01 2018-08-31 0000016918 us-gaap:AccumulatedTranslationAdjustmentMember 2019-02-28 0000016918 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2019-02-28 0000016918 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2019-02-28 0000016918 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2019-08-31 0000016918 us-gaap:EquityMethodInvestmentsMember 2019-02-28 0000016918 us-gaap:AccumulatedTranslationAdjustmentMember 2019-08-31 0000016918 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2019-08-31 0000016918 us-gaap:EquityMethodInvestmentsMember 2019-08-31 0000016918 srt:ParentCompanyMember 2019-03-01 2019-08-31 0000016918 srt:GuarantorSubsidiariesMember 2019-03-01 2019-08-31 0000016918 srt:ParentCompanyMember 2018-03-01 2018-08-31 0000016918 srt:ConsolidationEliminationsMember 2018-03-01 2018-08-31 0000016918 srt:NonGuarantorSubsidiariesMember 2018-03-01 2018-08-31 0000016918 srt:ParentCompanyMember 2019-02-28 0000016918 srt:GuarantorSubsidiariesMember 2018-03-01 2018-08-31 0000016918 srt:ConsolidationEliminationsMember 2019-03-01 2019-08-31 0000016918 srt:GuarantorSubsidiariesMember 2019-02-28 0000016918 srt:NonGuarantorSubsidiariesMember 2019-03-01 2019-08-31 0000016918 srt:GuarantorSubsidiariesMember 2019-08-31 0000016918 srt:ConsolidationEliminationsMember 2018-02-28 0000016918 srt:NonGuarantorSubsidiariesMember 2018-08-31 0000016918 srt:NonGuarantorSubsidiariesMember 2019-02-28 0000016918 srt:GuarantorSubsidiariesMember 2018-02-28 0000016918 srt:ParentCompanyMember 2018-08-31 0000016918 srt:ConsolidationEliminationsMember 2018-08-31 0000016918 srt:NonGuarantorSubsidiariesMember 2018-02-28 0000016918 srt:ConsolidationEliminationsMember 2019-02-28 0000016918 srt:ParentCompanyMember 2018-02-28 0000016918 srt:NonGuarantorSubsidiariesMember 2019-08-31 0000016918 srt:ParentCompanyMember 2019-08-31 0000016918 srt:ConsolidationEliminationsMember 2019-08-31 0000016918 srt:GuarantorSubsidiariesMember 2018-08-31 0000016918 srt:NonGuarantorSubsidiariesMember 2018-06-01 2018-08-31 0000016918 srt:ConsolidationEliminationsMember 2019-06-01 2019-08-31 0000016918 srt:GuarantorSubsidiariesMember 2019-06-01 2019-08-31 0000016918 srt:NonGuarantorSubsidiariesMember 2019-06-01 2019-08-31 0000016918 srt:ParentCompanyMember 2019-06-01 2019-08-31 0000016918 srt:ParentCompanyMember 2018-06-01 2018-08-31 0000016918 srt:ConsolidationEliminationsMember 2018-06-01 2018-08-31 0000016918 srt:GuarantorSubsidiariesMember 2018-06-01 2018-08-31 0000016918 us-gaap:MaterialReconcilingItemsMember us-gaap:CommodityContractMember 2018-03-01 2018-08-31 0000016918 us-gaap:MaterialReconcilingItemsMember 2018-03-01 2018-08-31 0000016918 us-gaap:MaterialReconcilingItemsMember 2019-03-01 2019-08-31 0000016918 us-gaap:MaterialReconcilingItemsMember 2019-06-01 2019-08-31 0000016918 us-gaap:MaterialReconcilingItemsMember 2018-06-01 2018-08-31 0000016918 us-gaap:MaterialReconcilingItemsMember us-gaap:ForeignExchangeContractMember 2019-06-01 2019-08-31 0000016918 us-gaap:MaterialReconcilingItemsMember us-gaap:CommodityContractMember 2018-06-01 2018-08-31 0000016918 us-gaap:MaterialReconcilingItemsMember us-gaap:ForeignExchangeContractMember 2018-03-01 2018-08-31 0000016918 us-gaap:MaterialReconcilingItemsMember us-gaap:ForeignExchangeContractMember 2019-03-01 2019-08-31 0000016918 us-gaap:MaterialReconcilingItemsMember us-gaap:ForeignExchangeContractMember 2018-06-01 2018-08-31 0000016918 us-gaap:MaterialReconcilingItemsMember us-gaap:CommodityContractMember 2019-06-01 2019-08-31 0000016918 us-gaap:MaterialReconcilingItemsMember us-gaap:CommodityContractMember 2019-03-01 2019-08-31 0000016918 us-gaap:OperatingSegmentsMember stz:CanopyGrowthCorporationMember 2019-03-01 2019-08-31 0000016918 us-gaap:IntersegmentEliminationMember 2019-08-31 0000016918 us-gaap:OperatingSegmentsMember us-gaap:CorporateAndOtherMember 2019-06-01 2019-08-31 0000016918 us-gaap:IntersegmentEliminationMember 2019-03-01 2019-08-31 0000016918 us-gaap:OperatingSegmentsMember stz:CanopyGrowthCorporationMember 2019-06-01 2019-08-31 0000016918 us-gaap:IntersegmentEliminationMember 2019-06-01 2019-08-31 0000016918 us-gaap:OperatingSegmentsMember us-gaap:CorporateAndOtherMember 2019-03-01 2019-08-31 0000016918 us-gaap:OperatingSegmentsMember stz:ConstellationwinesandspiritsMember 2018-06-01 2018-08-31 0000016918 us-gaap:OperatingSegmentsMember us-gaap:CorporateAndOtherMember 2019-08-31 0000016918 us-gaap:OperatingSegmentsMember us-gaap:CorporateAndOtherMember 2018-06-01 2018-08-31 0000016918 us-gaap:OperatingSegmentsMember stz:BeerMember 2018-03-01 2018-08-31 0000016918 us-gaap:IntersegmentEliminationMember 2018-08-31 0000016918 us-gaap:IntersegmentEliminationMember 2018-06-01 2018-08-31 0000016918 us-gaap:OperatingSegmentsMember stz:ConstellationwinesandspiritsMember 2018-08-31 0000016918 us-gaap:OperatingSegmentsMember stz:WineMember stz:ConstellationwinesandspiritsMember 2019-06-01 2019-08-31 0000016918 us-gaap:OperatingSegmentsMember stz:WineMember stz:ConstellationwinesandspiritsMember 2018-06-01 2018-08-31 0000016918 us-gaap:OperatingSegmentsMember stz:BeerMember 2018-06-01 2018-08-31 0000016918 us-gaap:OperatingSegmentsMember stz:SpiritsMember stz:ConstellationwinesandspiritsMember 2019-03-01 2019-08-31 0000016918 us-gaap:OperatingSegmentsMember stz:ConstellationwinesandspiritsMember 2018-03-01 2018-08-31 0000016918 us-gaap:IntersegmentEliminationMember 2018-03-01 2018-08-31 0000016918 us-gaap:OperatingSegmentsMember us-gaap:CorporateAndOtherMember 2018-03-01 2018-08-31 0000016918 us-gaap:OperatingSegmentsMember stz:BeerMember 2019-06-01 2019-08-31 0000016918 us-gaap:OperatingSegmentsMember stz:SpiritsMember stz:ConstellationwinesandspiritsMember 2018-03-01 2018-08-31 0000016918 us-gaap:OperatingSegmentsMember stz:SpiritsMember stz:ConstellationwinesandspiritsMember 2019-06-01 2019-08-31 0000016918 us-gaap:OperatingSegmentsMember stz:SpiritsMember stz:ConstellationwinesandspiritsMember 2018-06-01 2018-08-31 0000016918 us-gaap:OperatingSegmentsMember us-gaap:CorporateAndOtherMember 2018-08-31 0000016918 us-gaap:OperatingSegmentsMember stz:WineMember stz:ConstellationwinesandspiritsMember 2019-03-01 2019-08-31 0000016918 us-gaap:OperatingSegmentsMember stz:WineMember stz:ConstellationwinesandspiritsMember 2018-03-01 2018-08-31 xbrli:shares iso4217:USD iso4217:USD xbrli:shares iso4217:CAD xbrli:shares xbrli:pure iso4217:CAD stz:division iso4217:AUD stz:segment
Table of Contents

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
(Mark One)
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended August 31, 2019
or
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from                      to                     

Commission File Number: 001-08495
image_color.jpg
CONSTELLATION BRANDS, INC.
(Exact name of registrant as specified in its charter)
Delaware
16-0716709
(State or other jurisdiction of incorporation or organization)
(I.R.S. Employer Identification No.)

207 High Point Drive, Building 100, Victor, New York 14564
(Address of principal executive offices) (Zip code)
(585) 678-7100
(Registrant’s telephone number, including area code)
Not Applicable
(Former name, former address and former fiscal year, if changed since last report)
Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class
Trading Symbol(s)
Name of Each Exchange on Which Registered
Class A Common Stock
STZ
New York Stock Exchange
Class B Common Stock
STZ.B
New York 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      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      No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a 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
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 Exchange Act).   Yes    No  

There were 167,498,276 shares of Class A Common Stock, 23,314,407 shares of Class B Common Stock, and 823,377 shares of Class 1 Common Stock outstanding as of September 30, 2019.


Table of Contents

TABLE OF CONTENTS

 
 























This Quarterly Report on Form 10-Q contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Companys control, that could cause actual results to differ materially from those set forth in, or implied by, such forward-looking statements. For further information regarding such forward-looking statements, risks and uncertainties, please see “Information Regarding Forward-Looking Statements” under Part I – Item 2 “Managements Discussion and Analysis of Financial Condition and Results of Operations.”

Unless the context otherwise requires, the terms “Company,” “CBI,” “we,” “our,” or “us” refer to Constellation Brands, Inc. and its subsidiaries. Unless otherwise defined herein, refer to the Notes to Consolidated Financial Statements under Item 1 of this Quarterly Report on Form 10-Q for the definition of capitalized terms used herein. All references to “Fiscal 2019” refer to our fiscal year ended February 28, 2019. All references to “Fiscal 2020” refer to our fiscal year ending February 29, 2020. All references to “$” are to U.S. dollars, all references to “C$” are to Canadian dollars, all references to MXN$ are to Mexican pesos, and all references to “A$” are to Australian dollars.



FINANCIAL STATEMENTS

PART I – FINANCIAL INFORMATION
Item 1.
Financial Statements.
CONSTELLATION BRANDS, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(in millions, except share and per share data)
(unaudited)
 
August 31,
2019
 
February 28,
2019
ASSETS
 
 
 
Current assets:
 
 
 
Cash and cash equivalents
$
81.3

 
$
93.6

Accounts receivable
953.7

 
846.9

Inventories
1,311.4

 
2,130.4

Prepaid expenses and other
525.1

 
613.1

Assets held for sale - current
666.0

 

Total current assets
3,537.5

 
3,684.0

Property, plant, and equipment
5,141.6

 
5,267.3

Goodwill
7,696.7

 
8,088.8

Intangible assets
2,787.0

 
3,198.1

Equity method investments
3,003.8

 
3,465.6

Securities measured at fair value
1,572.2

 
3,234.7

Deferred income taxes
2,146.8

 
2,183.3

Assets held for sale
1,019.1

 

Other assets
650.4

 
109.7

Total assets
$
27,555.1

 
$
29,231.5

LIABILITIES AND STOCKHOLDERS’ EQUITY
 
 
 
Current liabilities:
 
 
 
Short-term borrowings
$
150.9

 
$
791.5

Current maturities of long-term debt
636.1

 
1,065.2

Accounts payable
608.6

 
616.7

Other accrued expenses and liabilities
800.3

 
690.4

Total current liabilities
2,195.9

 
3,163.8

Long-term debt, less current maturities
12,159.8

 
11,759.8

Deferred income taxes and other liabilities
1,508.4

 
1,470.7

Total liabilities
15,864.1

 
16,394.3

Commitments and contingencies

 

CBI stockholders’ equity:
 
 
 
Class A Common Stock, $.01 par value – Authorized, 322,000,000 shares; Issued, 185,880,112 shares and 185,740,178 shares, respectively
1.9

 
1.9

Class B Convertible Common Stock, $.01 par value – Authorized, 30,000,000 shares; Issued, 28,321,821 shares and 28,322,419 shares, respectively
0.3

 
0.3

Additional paid-in capital
1,452.1

 
1,410.8

Retained earnings
13,221.4

 
14,276.2

Accumulated other comprehensive income (loss)
(476.6
)
 
(353.9
)
 
14,199.1

 
15,335.3

Less: Treasury stock –
 
 
 
Class A Common Stock, at cost, 18,604,964 shares and 18,927,966 shares, respectively
(2,819.4
)
 
(2,782.1
)
Class B Convertible Common Stock, at cost, 5,005,800 shares
(2.2
)
 
(2.2
)
 
(2,821.6
)
 
(2,784.3
)
Total CBI stockholders’ equity
11,377.5

 
12,551.0

Noncontrolling interests
313.5

 
286.2

Total stockholders’ equity
11,691.0

 
12,837.2

Total liabilities and stockholders’ equity
$
27,555.1

 
$
29,231.5

The accompanying notes are an integral part of these statements.

Constellation Brands, Inc. Q2 FY 2020 Form 10-Q
1


FINANCIAL STATEMENTS

CONSTELLATION BRANDS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
(in millions, except per share data)
(unaudited)
 
For the Six Months Ended August 31,
 
For the Three Months Ended August 31,
 
2019
 
2018
 
2019
 
2018
Sales
$
4,855.9

 
$
4,755.7

 
$
2,573.4

 
$
2,525.7

Excise taxes
(414.7
)
 
(409.5
)
 
(229.4
)
 
(226.6
)
Net sales
4,441.2

 
4,346.2

 
2,344.0

 
2,299.1

Cost of product sold
(2,226.6
)
 
(2,129.4
)
 
(1,158.1
)
 
(1,130.9
)
Gross profit
2,214.6

 
2,216.8

 
1,185.9

 
1,168.2

Selling, general, and administrative expenses
(872.4
)
 
(826.4
)
 
(466.4
)
 
(403.2
)
Operating income (loss)
1,342.2

 
1,390.4

 
719.5

 
765.0

Income (loss) from unconsolidated investments
(2,255.3
)
 
1,052.8

 
(1,324.7
)
 
688.4

Interest expense
(226.2
)
 
(175.8
)
 
(111.6
)
 
(88.0
)
Loss on extinguishment of debt
(2.4
)
 

 
(2.4
)
 

Income (loss) before income taxes
(1,141.7
)
 
2,267.4

 
(719.2
)
 
1,365.4

(Provision for) benefit from income taxes
387.6

 
(369.8
)
 
202.2

 
(214.1
)
Net income (loss)
(754.1
)
 
1,897.6

 
(517.0
)
 
1,151.3

Net income (loss) attributable to noncontrolling interests
(16.5
)
 
(4.3
)
 
(8.2
)
 
(1.8
)
Net income (loss) attributable to CBI
$
(770.6
)
 
$
1,893.3

 
$
(525.2
)
 
$
1,149.5

 
 
 
 
 
 
 
 
Comprehensive income (loss)
$
(886.2
)
 
$
1,793.5

 
$
(646.4
)
 
$
1,232.6

Comprehensive (income) loss attributable to noncontrolling interests
(7.1
)
 
(1.9
)
 
0.1

 
(9.1
)
Comprehensive income (loss) attributable to CBI
$
(893.3
)
 
$
1,791.6

 
$
(646.3
)
 
$
1,223.5

 
 
 
 
 
 
 
 
Net income (loss) per common share attributable to CBI:
 
 
 
 
 
 
 
Basic – Class A Common Stock
$
(4.08
)
 
$
10.03

 
$
(2.77
)
 
$
6.11

Basic – Class B Convertible Common Stock
$
(3.71
)
 
$
9.11

 
$
(2.52
)
 
$
5.55

 
 
 
 
 
 
 
 
Diluted – Class A Common Stock
$
(4.08
)
 
$
9.64

 
$
(2.77
)
 
$
5.87

Diluted – Class B Convertible Common Stock
$
(3.71
)
 
$
8.89

 
$
(2.52
)
 
$
5.41

 
 
 
 
 
 
 
 
Weighted average common shares outstanding:
 
 
 
 
 
 
 
Basic – Class A Common Stock
168.215

 
167.617

 
168.310

 
167.172

Basic – Class B Convertible Common Stock
23.316

 
23.325

 
23.316

 
23.323

 
 
 
 
 
 
 
 
Diluted – Class A Common Stock
168.215

 
196.468

 
168.310

 
195.907

Diluted – Class B Convertible Common Stock
23.316

 
23.325

 
23.316

 
23.323

 
 
 
 
 
 
 
 
Cash dividends declared per common share:
 
 
 
 
 
 
 
Class A Common Stock
$
1.50

 
$
1.48

 
$
0.75

 
$
0.74

Class B Convertible Common Stock
$
1.36

 
$
1.34

 
$
0.68

 
$
0.67


The accompanying notes are an integral part of these statements.

Constellation Brands, Inc. Q2 FY 2020 Form 10-Q
2


FINANCIAL STATEMENTS

CONSTELLATION BRANDS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY
(in millions)
(unaudited)
 
Common Stock
 
Additional
Paid-in
Capital
 
Retained
Earnings
 
Accumulated
Other
Comprehensive
Income (Loss)
 
Treasury
Stock
 
Non-controlling
Interests
 
Total
 
Class A
 
Class B
 
Balance at February 28, 2019
$
1.9

 
$
0.3

 
$
1,410.8

 
$
14,276.2

 
$
(353.9
)
 
$
(2,784.3
)
 
$
286.2

 
$
12,837.2

Comprehensive income (loss):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income (loss)

 

 

 
(245.4
)
 

 

 
8.3

 
(237.1
)
Other comprehensive income (loss), net of income tax effect

 

 

 

 
(1.6
)
 

 
(1.1
)
 
(2.7
)
Comprehensive income (loss)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(239.8
)
Dividends declared

 

 

 
(141.9
)
 

 

 

 
(141.9
)
Initial recognition of non-controlling interest

 

 

 

 

 

 
20.2

 
20.2

Shares issued under equity compensation plans

 

 
(9.3
)
 

 

 
6.3

 

 
(3.0
)
Stock-based compensation

 

 
15.5

 

 

 

 

 
15.5

Balance at May 31, 2019
$
1.9

 
$
0.3

 
$
1,417.0

 
$
13,888.9

 
$
(355.5
)
 
$
(2,778.0
)
 
$
313.6

 
$
12,488.2

Comprehensive income (loss):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income (loss)

 

 

 
(525.2
)
 

 

 
8.2

 
(517.0
)
Other comprehensive income (loss), net of income tax effect

 

 

 

 
(121.1
)
 

 
(8.3
)
 
(129.4
)
Comprehensive income (loss)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(646.4
)
Repurchase of shares

 

 

 

 

 
(50.0
)
 

 
(50.0
)
Dividends declared

 

 

 
(142.3
)
 

 

 

 
(142.3
)
Shares issued under equity compensation plans

 

 
17.4

 

 

 
6.4

 

 
23.8

Stock-based compensation

 

 
17.7

 

 

 

 

 
17.7

Balance at August 31, 2019
$
1.9

 
$
0.3

 
$
1,452.1

 
$
13,221.4

 
$
(476.6
)
 
$
(2,821.6
)
 
$
313.5

 
$
11,691.0

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance at February 28, 2018
$
2.6

 
$
0.3

 
$
2,825.3

 
$
9,157.2

 
$
(202.9
)
 
$
(3,807.4
)
 
$
16.6

 
$
7,991.7

Cumulative effect of change in accounting principle

 

 

 
2,242.0

 

 

 

 
2,242.0

Comprehensive income (loss):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income (loss)

 

 

 
743.8

 

 

 
2.5

 
746.3

Other comprehensive income (loss), net of income tax effect

 

 

 

 
(175.7
)
 

 
(9.7
)
 
(185.4
)
Comprehensive income (loss)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
560.9

Repurchase of shares

 

 

 

 

 
(100.0
)
 

 
(100.0
)
Dividends declared

 

 

 
(140.6
)
 

 

 

 
(140.6
)
Shares issued under equity compensation plans

 

 
(7.7
)
 

 

 
2.3

 

 
(5.4
)
Stock-based compensation

 

 
17.2

 

 

 

 

 
17.2

Balance at May 31, 2018
$
2.6

 
$
0.3

 
$
2,834.8

 
$
12,002.4

 
$
(378.6
)
 
$
(3,905.1
)
 
$
9.4

 
$
10,565.8

Comprehensive income (loss):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income (loss)

 

 

 
1,149.5

 

 

 
1.8

 
1,151.3

Other comprehensive income (loss), net of income tax effect

 

 

 

 
74.0

 

 
7.3

 
81.3

Comprehensive income (loss)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1,232.6

Repurchase of shares

 

 

 

 

 
(404.3
)
 

 
(404.3
)
Dividends declared

 

 

 
(139.0
)
 

 

 

 
(139.0
)