3Q24 Investor Update
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating
activities:
CONSTELLATION BRANDS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in millions)
(unaudited)
Unrealized net (gain) loss on securities measured at fair value
Deferred tax provision (benefit)
Depreciation
Stock-based compensation
Equity in (earnings) losses of equity method investees and related activities, net of
distributed earnings
Noncash lease expense
Amortization of debt issuance costs and loss on extinguishment of debt
Impairment of equity method investments
(Gain) loss on sale of business
Gain (loss) on settlement of pre-issuance hedge contracts
Change in operating assets and liabilities, net of effects from purchase and sale of
business:
Accounts receivable
Inventories
Prepaid expenses and other current assets
Accounts payable
Other accrued expenses and liabilities
Other
Total adjustments
Net cash provided by (used in) operating activities
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property, plant, and equipment
Purchase of business, net of cash acquired
Investments in equity method investees and securities
Proceeds from sale of assets
Proceeds from sale of business
Other investing activities
Net cash provided by (used in) investing activities
Nine Months Ended
November 30, November 30,
2023
2022
$
1,360.8 $
85.4
28.2
321.8
49.5
257.3
62.9
8.9
136.1
15.1
1.4
6.9
(90.4)
(49.1)
24.5
37.1
90.4
986.0
2,346.8
(911.9)
(7.5)
(34.6)
21.8
5.4
(3.1)
(929.9)
(261.7)
39.1
218.4
278.4
56.1
845.4
66.7
31.1
1,060.3
(13.8)
20.7
(25.3)
(259.3)
204.7
187.4
(247.0)
79.4
2,542.3
2,280.6
(683.8)
(37.1)
(29.5)
6.6
96.7
0.5
(646.6)View entire presentation