Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Constellation Brands Inc., consolidated income statement (quarterly data)

US$ in thousands

3 months ended:	Nov 30, 2022	Aug 31, 2022	May 31, 2022	Feb 28, 2022	Nov 30, 2021	Aug 31, 2021	May 31, 2021	Feb 28, 2021	Nov 30, 2020	Aug 31, 2020	May 31, 2020	Feb 29, 2020	Nov 30, 2019	Aug 31, 2019	May 31, 2019	Feb 28, 2019	Nov 30, 2018	Aug 31, 2018	May 31, 2018	Feb 28, 2018	Nov 30, 2017	Aug 31, 2017	May 31, 2017	Feb 28, 2017	Nov 30, 2016	Aug 31, 2016	May 31, 2016
Sales	2,624,600)	2,864,300)	2,540,700)	2,268,800)	2,507,000)	2,565,000)	2,188,300)	2,120,600)	2,643,700)	2,459,700)	2,131,700)	2,075,600)	2,181,500)	2,573,400)	2,282,500)	1,968,000)	2,160,600)	2,525,700)	2,230,000)	1,935,400)	1,978,900)	2,297,200)	2,115,300)	1,793,100)	1,992,700)	2,222,800)	2,053,000)
Excise taxes	(188,100)	(209,200)	(177,500)	(166,300)	(186,400)	(193,900)	(161,800)	(167,600)	(205,600)	(199,300)	(168,300)	(172,700)	(182,100)	(229,400)	(185,300)	(170,800)	(188,000)	(226,600)	(182,900)	(169,500)	(179,800)	(212,700)	(179,800)	(165,100)	(182,200)	(201,600)	(181,200)
Net sales	2,436,500)	2,655,100)	2,363,200)	2,102,500)	2,320,600)	2,371,100)	2,026,500)	1,953,000)	2,438,100)	2,260,400)	1,963,400)	1,902,900)	1,999,400)	2,344,000)	2,097,200)	1,797,200)	1,972,600)	2,299,100)	2,047,100)	1,765,900)	1,799,100)	2,084,500)	1,935,500)	1,628,000)	1,810,500)	2,021,200)	1,871,800)
Cost of product sold	(1,209,600)	(1,329,200)	(1,108,200)	(969,900)	(1,094,900)	(1,141,400)	(907,200)	(959,300)	(1,169,900)	(1,044,600)	(975,100)	(953,100)	(1,011,900)	(1,158,100)	(1,068,500)	(903,700)	(1,002,600)	(1,130,900)	(998,500)	(916,800)	(891,600)	(1,019,200)	(940,200)	(840,300)	(919,100)	(1,052,200)	(990,500)
Gross profit	1,226,900)	1,325,900)	1,255,000)	1,132,600)	1,225,700)	1,229,700)	1,119,300)	993,700)	1,268,200)	1,215,800)	988,300)	949,800)	987,500)	1,185,900)	1,028,700)	893,500)	970,000)	1,168,200)	1,048,600)	849,100)	907,500)	1,065,300)	995,300)	787,700)	891,400)	969,000)	881,300)
Selling, general, and administrative expenses	(480,200)	(512,800)	(438,600)	(456,800)	(385,800)	(490,500)	(378,300)	(448,900)	(463,800)	(399,100)	(353,300)	(370,100)	(406,300)	(439,400)	(406,000)	(428,200)	(413,500)	(403,200)	(423,200)	(333,400)	(420,700)	(351,400)	(427,200)	(348,300)	(357,400)	(358,100)	(328,600)
Impairment of brewery construction in progress	—)	—)	—)	—)	—)	—)	(665,900)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Impairment of assets held for sale	—)	—)	—)	—)	—)	—)	—)	—)	(21,000)	22,000)	(25,000)	(32,700)	(390,000)	(27,000)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Gain (loss) on sale of business	—)	—)	—)	1,700)	—)	—)	—)	14,500)	(300)	—)	—)	(1,900)	76,000)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	262,400)	—)	—)	—)
Operating income	746,700)	813,100)	816,400)	677,500)	839,900)	739,200)	75,100)	559,300)	783,100)	838,700)	610,000)	545,100)	267,200)	719,500)	622,700)	465,300)	556,500)	765,000)	625,400)	515,700)	486,800)	713,900)	568,100)	701,800)	534,000)	610,900)	552,700)
Income (loss) from unconsolidated investments	(37,200)	(1,719,100)	(187,900)	(93,700)	(171,800)	(470,800)	(899,200)	19,800)	782,400)	(80,700)	(571,200)	43,200)	(456,500)	(1,324,700)	(930,600)	1,183,400)	(134,600)	688,400)	364,400)	237,500)	249,100)	200)	400)	(900)	27,500)	—)	700)
Interest expense	(98,700)	(94,300)	(88,500)	(85,900)	(88,000)	(95,800)	(86,700)	(89,800)	(95,700)	(100,200)	(100,000)	(99,400)	(103,100)	(111,600)	(114,600)	(118,500)	(72,800)	(88,000)	(87,800)	(86,900)	(81,400)	(81,300)	(82,400)	(77,000)	(77,600)	(94,100)	(84,600)
Loss on extinguishment of debt	—)	(8,000)	(15,300)	—)	—)	(29,400)	—)	(4,000)	(1,200)	(600)	(7,000)	—)	—)	(2,400)	—)	—)	(1,700)	—)	—)	(77,900)	(10,300)	(2,100)	(6,700)	—)	—)	—)	—)
Income (loss) before income taxes	610,800)	(1,008,300)	524,700)	497,900)	580,100)	143,200)	(910,800)	485,300)	1,468,600)	657,200)	(68,200)	488,900)	(292,400)	(719,200)	(422,500)	1,530,200)	347,400)	1,365,400)	902,000)	588,400)	644,200)	630,700)	479,400)	623,900)	483,900)	516,800)	468,800)
(Provision for) benefit from income taxes	(131,100)	(132,400)	(125,400)	(92,300)	(99,300)	(131,300)	13,500)	(94,700)	(176,600)	(135,400)	(104,400)	(79,900)	658,900)	202,200)	185,400)	(280,800)	(35,300)	(214,100)	(155,700)	340,400)	(149,500)	(128,700)	(74,100)	(162,000)	(78,900)	(163,600)	(149,700)
Net income (loss)	479,700)	(1,140,700)	399,300)	405,600)	480,800)	11,900)	(897,300)	390,600)	1,292,000)	521,800)	(172,600)	409,000)	366,500)	(517,000)	(237,100)	1,249,400)	312,100)	1,151,300)	746,300)	928,800)	494,700)	502,000)	405,300)	461,900)	405,000)	353,200)	319,100)
Net (income) loss attributable to noncontrolling interests	(12,000)	(10,500)	(9,800)	(10,200)	(10,000)	(10,400)	(10,800)	(7,700)	(11,100)	(9,700)	(5,300)	(10,600)	(6,100)	(8,200)	(8,300)	(9,900)	(9,000)	(1,800)	(2,500)	(3,300)	(3,600)	(2,500)	(2,500)	(9,900)	900)	5,700)	(800)
Net income (loss) attributable to CBI	467,700)	(1,151,200)	389,500)	395,400)	470,800)	1,500)	(908,100)	382,900)	1,280,900)	512,100)	(177,900)	398,400)	360,400)	(525,200)	(245,400)	1,239,500)	303,100)	1,149,500)	743,800)	925,500)	491,100)	499,500)	402,800)	452,000)	405,900)	358,900)	318,300)

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Income statement item	Description	The company
Net sales	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Constellation Brands Inc. net sales increased from Q1 2023 to Q2 2023 but then slightly decreased from Q2 2023 to Q3 2023 not reaching Q1 2023 level.
Operating income	The net result for the period of deducting operating expenses from operating revenues.	Constellation Brands Inc. operating income decreased from Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023.
Income (loss) before income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Constellation Brands Inc. income (loss) before income taxes decreased from Q1 2023 to Q2 2023 but then increased from Q2 2023 to Q3 2023 exceeding Q1 2023 level.
Net income (loss) attributable to CBI	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Constellation Brands Inc. net income (loss) attributable to CBI decreased from Q1 2023 to Q2 2023 but then increased from Q2 2023 to Q3 2023 exceeding Q1 2023 level.

Constellation Brands Inc. (NYSE:STZ)

Income StatementQuarterly Data

Income Statement
Quarterly Data