← CONSTELLATION BRANDS, INC.
| Annual Trend | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income (loss) | $1.5b | $2.3b | $3.5b | $21.4m | $2.0b | $1.0m | ($38.5m) | $1.8b | ($31.1m) | $1.8b | |
| Depreciation | $237.5m | $293.8m | $333.1m | $326.5m | $293.8m | $337.3m | $383.8m | $427.9m | $445.7m | $418.7m | |
| Deferred tax provision (benefit) | $128.7m | $114.9m | $426.9m | ($1.2b) | $336.4m | $84.8m | $207.8m | $147.9m | ($210.3m) | $510.5m | |
| Equity method investments impairment | — | — | — | — | $0 | $0 | $1.1b | $136.1m | $8.7m | $1.5m | |
| Asset impairment and related expenses | — | — | — | — | — | — | — | $0 | $478.0m | $109.8m | |
| Goodwill and intangible assets impairment | — | — | — | — | — | — | $13.0m | $0 | $2.8b | $0 | |
| Equity in (earnings) losses of equity method investees and related activities, net of distributed earnings | — | ($3.6m) | $13.5m | $560.8m | $673.4m | $61.6m | $971.8m | $321.2m | ($5.4m) | ($2.5m) | |
| Investments in equity method investees and securities | ($17.1m) | ($210.9m) | ($4.1b) | ($48.2m) | ($222.4m) | ($36.6m) | ($30.8m) | ($34.6m) | ($35.0m) | ($18.0m) | |
| Unrealized net (gain) loss on securities measured at fair value | — | ($464.3m) | ($2.0b) | $2.1b | ($802.0m) | $1.6b | $45.9m | $85.4m | $47.9m | $5.0m | |
| Stock-based compensation | $56.1m | $60.9m | $64.1m | $60.4m | $63.0m | $44.9m | $68.5m | $63.6m | $72.2m | $67.7m | |
| Noncash lease expense | — | $0 | $0 | $88.3m | $83.3m | $81.9m | $89.3m | $91.3m | $112.4m | $127.4m | |
| (Gain) loss on sale of business | ($262.4m) | $0 | $0 | ($74.1m) | ($14.2m) | ($1.7m) | ($15.0m) | $15.1m | ($266.0m) | $31.9m | |
| Accounts receivable | ($49.4m) | ($34.1m) | ($71.9m) | ($22.0m) | $59.6m | ($114.0m) | ($3.9m) | $73.2m | $90.3m | $82.9m | |
| Inventories | ($151.0m) | ($123.8m) | ($61.9m) | ($29.5m) | $193.7m | ($261.3m) | ($356.4m) | ($182.3m) | ($152.2m) | ($48.3m) | |
| Prepaid expenses and other current assets | ($71.6m) | ($111.5m) | ($103.0m) | $8.1m | $65.7m | ($113.2m) | $197.9m | ($76.5m) | ($89.4m) | $3.4m | |
| Accounts payable | $115.9m | $12.8m | $21.4m | $16.8m | ($95.7m) | $213.7m | $114.9m | $24.7m | $101.5m | ($3.7m) | |
| Contract liabilities | — | — | — | $1.4m | $0 | $118.0m | $12.8m | ($11.0m) | ($35.5m) | ($71.5m) | |
| Other accrued expenses and liabilities | $106.0m | ($71.6m) | ($22.1m) | ($58.5m) | ($75.0m) | ($28.8m) | ($239.8m) | ($115.9m) | ($48.9m) | ($148.0m) | |
| Other | ($38.3m) | $26.1m | $165.8m | $75.1m | ($63.4m) | ($23.4m) | $118.1m | $14.6m | ($166.6m) | ($172.6m) | |
| Proceeds from sale of assets | $2.1m | $5.9m | $72.3m | $8.3m | $18.9m | $4.1m | $6.7m | $21.9m | $35.5m | $59.0m | |
| Proceeds from sale of business | $575.3m | ($5.0m) | $0 | $269.7m | $999.5m | $4.6m | $96.7m | $5.4m | $409.2m | $850.5m | |
| Net proceeds from (repayments of) short-term borrowings | $197.1m | $137.2m | $45.5m | ($552.6m) | ($238.9m) | $323.0m | $842.3m | ($923.9m) | $565.3m | ($534.8m) | |
| Purchases of treasury stock | ($1.1b) | ($1.0b) | ($504.3m) | ($50.0m) | $0 | ($1.4b) | ($1.7b) | ($249.7m) | ($1.1b) | ($924.1m) | |
| Proceeds from shares issued under equity compensation plans | $59.7m | $49.4m | $63.2m | $78.2m | $58.9m | $177.6m | $42.4m | $104.5m | $73.8m | $7.7m | |
| Payments of minimum tax withholdings on stock-based payment awards | ($64.9m) | ($31.7m) | ($13.6m) | ($14.3m) | ($7.7m) | ($9.8m) | ($10.4m) | ($11.2m) | ($13.8m) | ($9.4m) | |
| Payment of contingent consideration | — | $0 | $0 | ($11.3m) | $0 | $0 | $0 | ($14.9m) | ($700k) | ($1.5m) | |
| Interest, net of interest capitalized | $300.4m | $322.2m | $324.8m | $448.9m | $418.5m | $368.5m | $386.3m | $418.6m | $416.1m | $346.2m | |
| Income taxes, net of refunds received | $219.6m | $238.6m | $186.2m | $85.3m | $189.7m | $324.7m | $129.7m | $333.5m | $197.1m | $173.6m | |
| Total adjustments | $156.8m | ($399.4m) | ($1.2b) | $2.5b | $774.7m | $2.7b | $2.8b | $1.0b | $3.2b | $912.2m | |
| Net cash provided by (used in) operating activities | $1.7b | $1.9b | $2.2b | $2.6b | $2.8b | $2.7b | $2.8b | $2.8b | $3.2b | $2.7b | |
| Purchase of property, plant, and equipment | ($907.4m) | ($1.1b) | ($886.3m) | ($726.5m) | ($864.6m) | ($1.0b) | ($1.0b) | ($1.3b) | ($1.2b) | ($875.0m) | |
| Additions to property, plant, and equipment | $190.3m | $170.0m | $141.7m | $70.4m | $101.1m | $304.0m | $183.3m | $269.6m | $143.1m | $125.2m | |
| Purchase of business, net of cash acquired | ($1.1b) | ($150.1m) | ($45.6m) | ($36.2m) | ($19.9m) | ($53.5m) | ($37.1m) | ($7.5m) | ($158.7m) | $0 | |
| Other investing activities | ($18.7m) | ($19.1m) | ($900k) | $400k | $600k | ($2.0m) | $500k | ($2.3m) | ($11.7m) | $0 | |
| Net cash provided by (used in) investing activities | ($1.5b) | ($1.4b) | ($4.8b) | ($531.0m) | ($87.9m) | ($1.0b) | ($999.4m) | ($1.3b) | ($974.8m) | $16.5m | |
| Proceeds from issuance of long-term debt | $2.0b | $7.9b | $3.7b | $1.3b | $1.2b | $995.6m | $3.3b | $1.1b | $0 | $997.7m | |
| Payments of debt issuance, debt extinguishment, and other financing costs | ($14.1m) | ($122.2m) | ($34.6m) | ($8.2m) | ($22.3m) | ($34.6m) | ($36.2m) | ($7.7m) | ($100k) | ($9.0m) | |
| Principal payments of long-term debt | ($971.8m) | ($7.1b) | ($62.8m) | ($2.2b) | ($2.7b) | ($1.4b) | ($2.2b) | ($809.7m) | ($957.0m) | ($1.4b) | |
| Distributions to noncontrolling interests | — | — | — | — | — | — | ($55.3m) | ($52.6m) | ($57.5m) | ($62.5m) | |
| Purchase of noncontrolling interest | — | — | $0 | $0 | ($35.0m) | ($52.5m) | ($55.3m) | ($52.6m) | $9.2m | $0 | |
| Dividends paid | ($315.1m) | ($400.1m) | ($557.7m) | ($569.2m) | ($575.0m) | ($573.0m) | ($587.7m) | ($653.8m) | ($731.8m) | ($715.7m) | |
| Net cash provided by (used in) financing activities | ($134.8m) | ($601.2m) | $2.6b | ($2.0b) | ($2.3b) | ($1.9b) | ($1.8b) | ($1.5b) | ($2.3b) | ($2.7b) | |
| Effect of exchange rate changes on cash and cash equivalents | ($5.1m) | $5.8m | ($4.5m) | ($900k) | $7.2m | ($1.3m) | ($3.5m) | ($600k) | $100k | $4.8m | |
| Net increase (decrease) in cash and cash equivalents | $94.3m | ($87.1m) | $3.3m | ($12.2m) | $379.2m | ($261.2m) | ($65.9m) | $18.9m | ($84.3m) | $34.3m | |
| Cash and cash equivalents, beginning of year | $83.1m | $177.4m | $90.3m | $93.6m | $460.6m | $199.4m | $133.5m | $152.4m | $68.1m | $102.4m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.