$TAP

MOLSON COORS BEVERAGE CO

CIK:0000024545|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Sales	$ 3,604.4	$ 3,740.0	$ 6,322.3	$ 6,430.2
Excise taxes	(507.9)	(539.2)	(874.7)	(925.3)
Net sales	3,096.5	3,200.8	5,447.6	5,504.9
Cost of goods sold	(2,033.2)	(1,918.9)	(3,487.1)	(3,372.1)
Gross profit	1,063.3	1,281.9	1,960.5	2,132.8
Marketing, general and administrative expenses	(718.5)	(693.1)	(1,328.5)	(1,346.3)
Other operating income (expense), net	(16.6)	(9.2)	(48.7)	(25.1)
Equity income (loss)	3.7	4.0	6.9	8.5
Operating income (loss)	331.9	583.6	590.2	769.9
Interest income (expense), net	(60.5)	(58.5)	(118.1)	(115.1)
Other pension and postretirement benefit (cost), net	5.0	3.5	9.9	7.3
Other non-operating income (expense), net	6.7	26.3	(4.2)	49.1
Total non-operating income (expense), net	(48.8)	(28.7)	(112.4)	(58.7)
Income (loss) before income taxes	283.1	554.9	477.8	711.2
Income tax benefit (expense)	(61.5)	(130.6)	(106.1)	(163.8)
Net income (loss)	221.6	424.3	371.7	547.4
Net (income) loss attributable to noncontrolling interests	10.1	4.4	11.3	2.3
Net income (loss) attributable to Molson Coors Beverage Company	$ 231.7	$ 428.7	$ 383.0	$ 549.7
Net income (loss) attributable to Molson Coors Beverage Company per share
Basic (in dollars per share)	$ 1.24	$ 2.14	$ 2.04	$ 2.73
Diluted (in dollars per share)	$ 1.23	$ 2.13	$ 2.03	$ 2.71
Weighted-average shares outstanding
Basic (in shares)	187.5	200.5	188.2	201.7
Dilutive effect of share-based awards (in shares)	0.2	0.7	0.4	0.9
Diluted (in shares)	187.7	201.2	188.6	202.6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Net income (loss) including noncontrolling interests	$ 371.7	$ 547.4
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Depreciation and amortization	377.7	350.4
Amortization of cloud computing arrangements	7.6	7.0
Amortization of debt issuance costs and discounts	3.8	2.6
Share-based compensation	17.0	18.9
(Gain) loss on sale or impairment of property, plant, equipment and other assets, net	2.3	(6.1)
Unrealized (gain) loss on foreign currency fluctuations, fair value investments and derivative instruments, net	6.2	(77.4)
Equity (income) loss	(6.9)	(8.5)
Income tax (benefit) expense	106.1	163.8
Income tax (paid) received	(41.7)	(58.0)
Interest expense, excluding amortization of debt issuance costs and discounts	125.2	120.3
Interest paid	(141.5)	(137.2)
Other non-cash items, net	1.5	(2.1)
Change in current assets and liabilities (net of impact of business combinations) and other	(8.6)	(293.5)
Net cash provided by (used in) operating activities	820.4	627.6
Cash flows from investing activities
Additions to property, plant and equipment	(335.2)	(400.6)
Proceeds from sales of property, plant, equipment and other assets	7.4	4.4
Acquisition of business, net of cash acquired	(271.0)	(20.8)
Other	(0.6)	(82.7)
Net cash provided by (used in) investing activities	(599.4)	(499.7)
Cash flows from financing activities
Dividends paid	(183.7)	(192.7)
Payments for purchases of treasury stock	(211.0)	(306.8)
Payments on debt and borrowings	(382.7)	(5.8)
Proceeds on debt and borrowings	1,848.6	0.0
Other	(44.3)	(0.9)
Net cash provided by (used in) financing activities	1,026.9	(506.2)
Effect of foreign exchange rate changes on cash and cash equivalents	(16.3)	22.8
Net increase (decrease) in cash and cash equivalents	1,231.6	(355.5)
Balance at beginning of year	896.5	969.3
Balance at end of period	$ 2,128.1	$ 613.8

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current assets
Cash and cash equivalents	$ 2,128.1	$ 896.5
Trade receivables, net	1,004.1	703.0
Other receivables, net	173.7	187.3
Inventories, net	849.1	715.9
Other current assets, net	428.5	432.8
Total current assets	4,583.5	2,935.5
Property, plant and equipment, net	4,677.7	4,768.7
Goodwill	2,144.8	1,944.7
Other intangibles, net	11,839.6	11,991.1
Other assets	1,113.4	1,098.4
Total assets	24,359.0	22,738.4
Current liabilities
Accounts payable and other current liabilities	3,175.0	2,876.7
Current portion of long-term debt and short-term borrowings	2,037.1	2,434.1
Total current liabilities	5,212.1	5,310.8
Long-term debt	5,672.5	3,865.4
Pension and postretirement benefits	411.2	427.1
Deferred tax liabilities	2,358.5	2,284.7
Other liabilities	296.0	307.7
Total liabilities	13,950.3	12,195.7
Commitments and contingencies (Note 10)
Redeemable noncontrolling interests	102.0	115.6
Capital stock
Preferred stock, $0.01 par value (authorized: 25.0 shares; none issued)	0.0	0.0
Paid-in capital	7,252.8	7,247.2
Retained earnings	5,925.4	5,723.7
Accumulated other comprehensive income (loss)	(1,181.1)	(1,071.6)
Class B common stock held in treasury at cost (42.1 shares and 37.7 shares, respectively)	(2,247.5)	(2,038.9)
Total Molson Coors Beverage Company stockholders' equity	10,119.5	10,230.3
Noncontrolling interests	187.2	196.8
Total equity	10,306.7	10,427.1
Total liabilities and equity	24,359.0	22,738.4
Common Class A
Capital stock
Common stock issued	0.0	0.0
Common Class B
Capital stock
Common stock issued	2.2	2.2
Exchangeable Class A
Capital stock
Exchangeable shares issued	100.8	100.8
Exchangeable Class B
Capital stock
Exchangeable shares issued	$ 266.9	$ 266.9