Company Quick10K Filing
Quick10K
Molson Coors Brewing
Closing Price ($) Shares Out (MM) Market Cap ($MM)
$58.35 216 $12,620
10-Q 2019-06-30 Quarter: 2019-06-30
10-Q 2019-03-31 Quarter: 2019-03-31
10-K 2018-12-31 Annual: 2018-12-31
10-Q 2018-09-30 Quarter: 2018-09-30
10-Q 2018-06-30 Quarter: 2018-06-30
10-Q 2018-03-31 Quarter: 2018-03-31
10-K 2017-12-31 Annual: 2017-12-31
10-Q 2017-09-30 Quarter: 2017-09-30
10-Q 2017-06-30 Quarter: 2017-06-30
10-Q 2017-03-31 Quarter: 2017-03-31
10-K 2016-12-31 Annual: 2016-12-31
10-Q 2016-09-30 Quarter: 2016-09-30
10-Q 2016-06-30 Quarter: 2016-06-30
10-Q 2016-03-31 Quarter: 2016-03-31
10-K 2015-12-31 Annual: 2015-12-31
10-Q 2015-09-30 Quarter: 2015-09-30
10-Q 2015-06-30 Quarter: 2015-06-30
10-Q 2015-03-31 Quarter: 2015-03-31
10-K 2014-12-31 Annual: 2014-12-31
10-Q 2014-09-30 Quarter: 2014-09-30
10-Q 2014-06-30 Quarter: 2014-06-30
10-Q 2014-03-31 Quarter: 2014-03-31
10-K 2013-12-31 Annual: 2013-12-31
8-K 2019-07-31 Earnings, Exhibits
8-K 2019-07-30 Officers
8-K 2019-07-18 Exhibits
8-K 2019-07-07 Enter Agreement, Exhibits
8-K 2019-05-22 Shareholder Vote
8-K 2019-05-01 Earnings, Exhibits
8-K 2019-02-12 Earnings, Exhibits
8-K 2019-02-08 Amendment
8-K 2018-10-31 Earnings, Exhibits
8-K 2018-08-01 Earnings, Exhibits
8-K 2018-07-19 Enter Agreement, Exhibits
8-K 2018-06-06 Regulation FD, Exhibits
8-K 2018-05-25 Officers, Shareholder Vote, Exhibits
8-K 2018-02-02 Officers
8-K 2018-01-22 Enter Agreement, Exhibits
ALX Alexanders 1,960
GSAH GS Acquisition Holdings 868
MVC MVC Capital 160
NVTR Nuvectra 106
AUTO Autoweb 44
TST Thestreet 36
ELSE Electro Sensors 12
VIDE Video Display 0
IMAGE Image International Group 0
PETV Petvivo Holdings 0
TAP 2019-06-30
Part I. Financial Information
Item 1.
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 3. Defaults Upon Senior Securities
Item 4. Mine Safety Disclosures
Item 5. Other Information
Item 6. Exhibits
EX-31.1 tapex311201963010q.htm
EX-31.2 tapex312201963010q.htm
EX-32 tapex32201963010q.htm

Molson Coors Brewing Earnings 2019-06-30

TAP 10Q Quarterly Report

Balance SheetIncome StatementCash Flow

Document
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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 June 30, 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: 1-14829
taplogoa03a01a04a01a07.jpg
Molson Coors Brewing Company
(Exact name of registrant as specified in its charter)

Delaware
(State or other jurisdiction of incorporation or organization)
1801 California Street, Suite 4600, Denver, Colorado, USA
1555 Notre Dame Street East, Montréal, Québec, Canada
(Address of principal executive offices)
84-0178360
(I.R.S. Employer Identification No.)
80202
H2L 2R5
(Zip Code)

303-927-2337 (Colorado)
514-521-1786 (Québec)
(Registrant's telephone number, including area code)
_______________________________________________________________
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
 
Trading symbols
 
Name of each exchange on which registered
Class A Common Stock, $0.01 par value
 
TAP.A
 
New York Stock Exchange
Class B Common Stock, $0.01 par value
 
TAP
 
New York Stock Exchange
1.25% Senior Notes due 2024
 
TAP
 
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 ý    No o
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 o
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 o Non-accelerated filer o 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. o
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes    No ý
Indicate the number of shares outstanding of each of the registrant's classes of common stock, as of July 25, 2019:
Class A Common Stock — 2,560,668 shares
Class B Common Stock — 196,230,312 shares
Exchangeable shares:
As of July 25, 2019, the following number of exchangeable shares were outstanding for Molson Coors Canada, Inc.:
Class A Exchangeable shares — 2,725,317 shares
Class B Exchangeable shares — 14,839,184 shares
The Class A exchangeable shares and Class B exchangeable shares are shares of the share capital in Molson Coors Canada Inc., a wholly-owned subsidiary of the registrant. They are publicly traded on the Toronto Stock Exchange under the symbols TPX.A and TPX.B, respectively. These shares are intended to provide substantially the same economic and voting rights as the corresponding class of Molson Coors common stock in which they may be exchanged. In addition to the registered Class A common stock and the Class B common stock, the registrant has also issued and outstanding one share each of a Special Class A voting stock and Special Class B voting stock. The Special Class A voting stock and the Special Class B voting stock provide the mechanism for holders of Class A exchangeable shares and Class B exchangeable shares to be provided instructions to vote with the holders of the Class A common stock and the Class B common stock, respectively. The holders of the Special Class A voting stock and Special Class B voting stock are entitled to one vote for each outstanding Class A exchangeable share and Class B exchangeable share, respectively, excluding shares held by the registrant or its subsidiaries, and generally vote together with the Class A common stock and Class B common stock, respectively, on all matters on which the Class A common stock and Class B common stock are entitled to vote. The Special Class A voting stock and Special Class B voting stock are subject to a voting trust arrangement. The trustee which holds the Special Class A voting stock and the Special Class B voting stock is required to cast a number of votes equal to the number of then-outstanding Class A exchangeable shares and Class B exchangeable shares, respectively, but will only cast a number of votes equal to the number of Class A exchangeable shares and Class B exchangeable shares as to which it has received voting instructions from the owners of record of those Class A exchangeable shares and Class B exchangeable shares, other than the registrant or its subsidiaries, respectively, on the record date, and will cast the votes in accordance with such instructions so received.
 



MOLSON COORS BREWING COMPANY AND SUBSIDIARIES
INDEX
 
 
 
 
Page
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 


2


Glossary of Terms and Abbreviations
AOCI    
Accumulated other comprehensive income (loss)
CAD    
Canadian dollar
CZK
Czech Koruna
DBRS
A global credit rating agency in Toronto
EBITDA
Earnings before interest, tax, depreciation and amortization
EPS    
Earnings per share
EUR
Euro
FASB    
Financial Accounting Standards Board
GBP    
British Pound
HRK
Croatian Kuna
JPY    
Japanese Yen
Moody’s
Moody’s Investors Service Limited, a nationally recognized statistical rating organization designated by the SEC
OCI
Other comprehensive income (loss)
OPEB
Other postretirement benefit plans
RSD    
Serbian Dinar
SEC
Securities and Exchange Commission
Standard & Poor’s
Standard and Poor’s Ratings Services, a nationally recognized statistical rating organization designated by the SEC
STRs
Sales-to-retailers
STWs
Sales-to-wholesalers
2017 Tax Act
Tax Cuts and Jobs Act
U.K.
United Kingdom
U.S.    
United States
U.S. GAAP
Accounting principles generally accepted in the U.S.
USD or $
U.S. dollar
VIEs
Variable interest entities


3


Cautionary Statement Pursuant to Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995
This report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). From time to time, we may also provide oral or written forward-looking statements in other materials we release to the public. Such forward-looking statements are subject to the safe harbor created by the Private Securities Litigation Reform Act of 1995.
Statements that refer to projections of our future financial performance, our anticipated growth and trends in our businesses, and other characterizations of future events or circumstances are forward-looking statements, and include, but are not limited to, statements under the headings "Management's Discussion and Analysis of Financial Condition and Results of Operations," and under the heading "Outlook for 2019" therein, overall volume trends, consumer preferences, pricing trends, industry forces, cost reduction strategies, anticipated results, expectations for funding future capital expenditures and operations, expectations regarding future dividends, debt service capabilities, timing and amounts of debt and leverage levels, shipment levels and profitability, market share and the sufficiency of capital resources. In addition, statements that we make in this report that are not statements of historical fact may also be forward-looking statements. Words such as "expects," "goals," "plans," "believes," "continues," "may," "anticipate," "seek," "estimate," "outlook," "trends," "future benefits," "potential," "projects," "strategies," and variations of such words and similar expressions are intended to identify forward-looking statements.
Forward-looking statements are subject to risks and uncertainties that could cause actual results to be materially different from those indicated (both favorably and unfavorably). These risks and uncertainties include, but are not limited to, those described under the heading "Risk Factors" in this report, if any, and those described from time to time in our past and future reports filed with the SEC, including in our Annual Report on Form 10-K for the year ended December 31, 2018. Caution should be taken not to place undue reliance on any such forward-looking statements. Forward-looking statements speak only as of the date when made and we undertake no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.
Market and Industry Data
The market and industry data used in this Quarterly Report on Form 10-Q are based on independent industry publications, customers, trade or business organizations, reports by market research firms and other published statistical information from third parties (collectively, the “Third Party Information”), as well as information based on management’s good faith estimates, which we derive from our review of internal information and independent sources. Such Third Party Information generally states that the information contained therein or provided by such sources has been obtained from sources believed to be reliable.

4


PART I. FINANCIAL INFORMATION

ITEM 1.    

MOLSON COORS BREWING COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(IN MILLIONS, EXCEPT PER SHARE DATA)
(UNAUDITED)
 
Three Months Ended
 
Six Months Ended
 
June 30, 2019
 
June 30, 2018
 
June 30, 2019
 
June 30, 2018
Sales
$
3,620.0

 
$
3,820.5

 
$
6,420.1

 
$
6,688.5

Excise taxes
(671.7
)
 
(735.3
)
 
(1,168.5
)
 
(1,271.8
)
Net sales
2,948.3

 
3,085.2

 
5,251.6

 
5,416.7

Cost of goods sold
(1,759.8
)
 
(1,739.1
)
 
(3,172.8
)
 
(3,274.8
)
Gross profit
1,188.5

 
1,346.1

 
2,078.8

 
2,141.9

Marketing, general and administrative expenses
(769.7
)
 
(744.7
)
 
(1,424.9
)
 
(1,425.8
)
Special items, net
49.9

 
(10.5
)
 
36.9

 
304.3

Operating income (loss)
468.7

 
590.9

 
690.8

 
1,020.4

Interest income (expense), net
(65.6
)
 
(76.7
)
 
(138.9
)
 
(159.9
)
Other pension and postretirement benefits (costs), net
8.4

 
9.9

 
17.0

 
19.9

Other income (expense), net
(10.9
)
 
(1.1
)
 
13.0

 

Income (loss) before income taxes
400.6

 
523.0

 
581.9

 
880.4

Income tax benefit (expense)
(70.4
)
 
(92.2
)
 
(102.6
)
 
(167.1
)
Net income (loss)
330.2

 
430.8

 
479.3

 
713.3

Net (income) loss attributable to noncontrolling interests
(0.8
)
 
(6.7
)
 
1.5

 
(11.1
)
Net income (loss) attributable to Molson Coors Brewing Company
$
329.4

 
$
424.1

 
$
480.8

 
$
702.2

 
 
 
 
 
 
 
 
Net income (loss) attributable to Molson Coors Brewing Company per share:
 
 
 
 
 
 
 
Basic
$
1.52

 
$
1.96

 
$
2.22

 
$
3.25

Diluted
$
1.52

 
$
1.96

 
$
2.22

 
$
3.24

 
 
 
 
 
 
 
 
Weighted-average shares outstanding:
 
 
 
 
 
 
 
Basic
216.6

 
216.0

 
216.6

 
215.9

Dilutive effect of share-based awards
0.3

 
0.5

 
0.3

 
0.7

Diluted
216.9

 
216.5

 
216.9

 
216.6

 
 
 
 
 
 
 
 
Anti-dilutive securities excluded from the computation of diluted EPS
1.3

 
1.2

 
1.3

 
0.7

See notes to unaudited condensed consolidated financial statements.

5


MOLSON COORS BREWING COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
(IN MILLIONS)
(UNAUDITED)
 
Three Months Ended
 
Six Months Ended
 
June 30, 2019
 
June 30, 2018
 
June 30, 2019
 
June 30, 2018
Net income (loss) including noncontrolling interests
$
330.2

 
$
430.8

 
$
479.3

 
$
713.3

Other comprehensive income (loss), net of tax:
 
 
 
 
 
 
 
Foreign currency translation adjustments
42.1

 
(255.0
)
 
113.6

 
(180.9
)
Unrealized gain (loss) on derivative instruments
(38.3
)
 
36.2

 
(68.0
)
 
10.4

Reclassification of derivative (gain) loss to income
(0.3
)
 
0.7

 
(0.2
)
 
1.8

Amortization of net prior service (benefit) cost and net actuarial (gain) loss to income
(0.5
)
 
1.3

 
(1.1
)
 
3.0

Ownership share of unconsolidated subsidiaries' other comprehensive income (loss)
0.8

 
0.7

 
1.8

 
(0.5
)
Total other comprehensive income (loss), net of tax
3.8

 
(216.1
)
 
46.1

 
(166.2
)
Comprehensive income (loss)
334.0

 
214.7

 
525.4

 
547.1

Comprehensive (income) loss attributable to noncontrolling interests
(0.5
)
 
(5.1
)
 
1.6

 
(10.3
)
Comprehensive income (loss) attributable to Molson Coors Brewing Company
$
333.5

 
$
209.6

 
$
527.0

 
$
536.8

See notes to unaudited condensed consolidated financial statements.


6


MOLSON COORS BREWING COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(IN MILLIONS, EXCEPT PAR VALUE)
(UNAUDITED)
 
As of
 
June 30, 2019
 
December 31, 2018
Assets
 
 
 
Current assets:
 
 
 
Cash and cash equivalents
$
490.2

 
$
1,057.9

Accounts receivable, net
932.3

 
744.4

Other receivables, net
175.8

 
126.6

Inventories, net
698.1

 
591.8

Other current assets, net
304.0

 
245.6

Total current assets
2,600.4

 
2,766.3

Properties, net
4,505.1

 
4,608.3

Goodwill
8,288.9

 
8,260.8

Other intangibles, net
13,767.4

 
13,776.4

Other assets
899.8

 
698.0

Total assets
$
30,061.6

 
$
30,109.8

Liabilities and equity
 
 
 
Current liabilities:
 
 
 
Accounts payable and other current liabilities
$
3,045.6

 
$
2,706.4

Current portion of long-term debt and short-term borrowings
1,034.7

 
1,594.5

Total current liabilities
4,080.3

 
4,300.9

Long-term debt
8,517.9

 
8,893.8

Pension and postretirement benefits
725.5

 
726.6

Deferred tax liabilities
2,199.6

 
2,128.9

Other liabilities
393.3

 
323.8

Total liabilities
15,916.6

 
16,374.0

Commitments and contingencies (Note 12)
 
 
 
Molson Coors Brewing Company stockholders' equity
 
 
 
Capital stock:
 
 
 
Preferred stock, $0.01 par value (authorized: 25.0 shares; none issued)

 

Class A common stock, $0.01 par value per share (authorized: 500.0 shares; issued and outstanding: 2.6 shares and 2.6 shares, respectively)

 

Class B common stock, $0.01 par value per share (authorized: 500.0 shares; issued: 205.7 shares and 205.4 shares, respectively)
2.1

 
2.0

Class A exchangeable shares, no par value (issued and outstanding: 2.7 shares and 2.8 shares, respectively)
103.0

 
103.2

Class B exchangeable shares, no par value (issued and outstanding: 14.8 shares and 14.8 shares, respectively)
557.9

 
557.6

Paid-in capital
6,783.3

 
6,773.1

Retained earnings
8,103.1

 
7,692.9

Accumulated other comprehensive income (loss)
(1,178.6
)
 
(1,150.0
)
Class B common stock held in treasury at cost (9.5 shares and 9.5 shares, respectively)
(471.4
)
 
(471.4
)
Total Molson Coors Brewing Company stockholders' equity
13,899.4

 
13,507.4

Noncontrolling interests
245.6

 
228.4

Total equity
14,145.0

 
13,735.8

Total liabilities and equity
$
30,061.6

 
$
30,109.8

See notes to unaudited condensed consolidated financial statements.

7


MOLSON COORS BREWING COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(IN MILLIONS)
(UNAUDITED)
 
Six Months Ended
 
June 30, 2019
 
June 30, 2018
Cash flows from operating activities:
 
 
 
Net income (loss) including noncontrolling interests
$
479.3


$
713.3

Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
 
 
 

Depreciation and amortization
429.7

 
429.6

Amortization of debt issuance costs and discounts
7.5

 
7.2

Share-based compensation
18.6

 
25.1

(Gain) loss on sale or impairment of properties and other assets, net
(67.7
)
 

Unrealized (gain) loss on foreign currency fluctuations and derivative instruments, net
(12.4
)
 
38.4

Income tax (benefit) expense
102.6

 
167.1

Income tax (paid) received
(41.4
)
 
20.0

Interest expense, excluding interest amortization
140.5

 
155.8

Interest paid
(140.9
)
 
(152.5
)
Change in current assets and liabilities and other
(87.8
)
 
(106.2
)
Net cash provided by (used in) operating activities
828.0

 
1,297.8

Cash flows from investing activities:
 

 
 

Additions to properties
(310.5
)
 
(351.1
)
Proceeds from sales of properties and other assets
99.9

 
4.4

Other
42.8

 
(50.5
)
Net cash provided by (used in) investing activities
(167.8
)
 
(397.2
)
Cash flows from financing activities:
 

 
 

Exercise of stock options under equity compensation plans
1.4

 
6.3

Dividends paid
(177.4
)
 
(177.0
)
Payments on debt and borrowings
(1,070.8
)
 
(2.4
)
Net proceeds from (payments on) revolving credit facilities and commercial paper
(1.9
)
 
(376.1
)
Change in overdraft balances and other
12.8

 
24.5

Net cash provided by (used in) financing activities
(1,235.9
)
 
(524.7
)
Cash and cash equivalents:
 

 
 

Net increase (decrease) in cash and cash equivalents
(575.7
)
 
375.9

Effect of foreign exchange rate changes on cash and cash equivalents
8.0

 
(1.6
)
Balance at beginning of year
1,057.9

 
418.6

Balance at end of period
$
490.2

 
$
792.9

See notes to unaudited condensed consolidated financial statements.

8


MOLSON COORS BREWING COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
AND NONCONTROLLING INTERESTS
(IN MILLIONS)
(UNAUDITED)
 
 
 
Molson Coors Brewing Company Stockholders' Equity
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Accumulated
 
Common Stock
 
 
 
 
 
Common stock
 
Exchangeable
 
 
 
 
 
other
 
held in
 
Non
 
 
 
issued
 
shares issued
 
Paid-in-
 
Retained
 
comprehensive
 
treasury
 
controlling
 
Total
 
Class A
 
Class B
 
Class A
 
Class B
 
capital
 
earnings
 
income (loss)
 
Class B
 
interests
As of March 31, 2018
$
13,415.8

 
$

 
$
2.0

 
$
107.7

 
$
553.2

 
$
6,697.4

 
$
7,120.2

 
$
(810.9
)
 
$
(471.4
)
 
$
217.6

Shares issued under equity compensation plan
(0.6
)
 

 

 

 

 
(0.6
)
 

 

 

 

Amortization of share-based compensation
10.2

 

 

 

 

 
10.2

 

 

 

 

Purchase of noncontrolling interest
(0.1
)
 

 

 

 

 

 

 

 

 
(0.1
)
Net income (loss) including noncontrolling interests
430.8

 

 

 

 

 

 
424.1

 

 

 
6.7

Other comprehensive income (loss), net of tax
(216.1
)
 

 

 

 

 

 

 
(214.5
)
 

 
(1.6
)
Distributions and dividends to noncontrolling interests
(2.6
)
 

 

 

 

 

 

 

 

 
(2.6
)
Dividends declared and paid - $0.41 per share
(88.5
)
 

 

 

 

 

 
(88.5
)
 

 

 

As of June 30, 2018
$
13,548.9

 
$

 
$
2.0

 
$
107.7

 
$
553.2

 
$
6,707.0


$
7,455.8


$
(1,025.4
)

$
(471.4
)
 
$
220.0

 
 

Molson Coors Brewing Company Stockholders' Equity

 
 
 









 
 
 
 
Accumulated
 
Common Stock

 
 
 

Common stock

Exchangeable


 
 
 
other
 
held in

Non
 
 

issued

shares issued

Paid-in-
 
Retained
 
comprehensive
 
treasury

controlling
 
Total

Class A

Class B

Class A

Class B

capital
 
earnings
 
income (loss)
 
Class B

interests
As of March 31, 2019
$
13,888.1


$

 
$
2.0

 
$
103.2

 
$
557.6

 
$
6,776.2

 
$
7,862.4

 
$
(1,182.7
)
 
$
(471.4
)
 
$
240.8

Exchange of shares



 

 
(0.2
)
 
0.3

 
(0.1
)
 

 

 

 

Shares issued under equity compensation plan
0.3



 
0.1

 

 

 
0.2

 

 

 

 

Amortization of share-based compensation
7.0



 

 

 

 
7.0

 

 

 

 

Acquisition of business
0.7



 

 

 

 

 

 

 

 
0.7

Net income (loss) including noncontrolling interests
330.2



 

 

 

 

 
329.4

 

 

 
0.8

Other comprehensive income (loss), net of tax
3.8



 

 

 

 

 

 
4.1

 

 
(0.3
)
Contributions from noncontrolling interests
7.0

 

 

 

 

 

 

 

 

 
7.0

Distributions and dividends to noncontrolling interests
(3.4
)
 

 

 

 

 

 

 

 

 
(3.4
)
Dividends declared and paid - $0.41 per share
(88.7
)


 

 

 

 

 
(88.7
)
 

 

 

As of June 30, 2019
$
14,145.0


$


$
2.1


$
103.0


$
557.9


$
6,783.3

 
$
8,103.1

 
$
(1,178.6
)
 
$
(471.4
)

$
245.6


See notes to unaudited condensed consolidated financial statements.






9


MOLSON COORS BREWING COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
AND NONCONTROLLING INTERESTS
(IN MILLIONS)
(UNAUDITED)
 
 
 
Molson Coors Brewing Company Stockholders' Equity
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Accumulated
 
Common Stock
 
 
 
 
 
Common stock
 
Exchangeable
 
 
 
 
 
other
 
held in
 
Non
 
 
 
issued
 
shares issued
 
Paid-in-
 
Retained
 
comprehensive
 
treasury
 
controlling
 
Total
 
Class A
 
Class B
 
Class A
 
Class B
 
capital
 
earnings
 
income (loss)
 
Class B
 
interests
As of December 31, 2017
$
13,187.3

 
$

 
$
2.0

 
$
107.7

 
$
553.2

 
$
6,688.5

 
$
6,958.4

 
$
(860.0
)
 
$
(471.4