Find an annual report for a company of your choice and answer the following questions:
Who is your company?
• Molson Coors Brewing Co (TAP)
What is their primary business focus?
• Focus on global growth, leveraging Molson Coors International as entrepreneurial global business unit
Who is on the Board of Directors?
• MillerCoors has a Board of Directors consisting of five MCBC-appointed and five SABMiller-appointed directors. • The percentage interests in the profits of MillerCoors are 58% for SABMiller and 42% for MCBC, and voting interests are shared 50%-50%. Each party to the joint venture has agreed not to transfer its economic or voting interests in the joint venture for a period of five years, and certain rights of first refusal will apply to any subsequent assignment of such interests. Our interest in MillerCoors is accounted for under the equity method of accounting.
Peter H. Coors
Ralph P. Hargrow
Gregory L. Wade
Samuel D. Walker
President of Molson Coors International
Chairman of the Board of the Company, Executive Director of Coors Brewing Company, and Chairman of the Board of MillerCoors LLC Chief Financial Officer and a Director of MillerCoors LLC
Chief People Officer and a Director of MillerCoors LLC
President and Chief Executive Officer of Molson Coors Brewing Company (UK) Limited President and Chief Executive Officer of Molson Coors Canada President, Chief Executive Officer and a Director, and a Director of MillerCoors LLC Chief Supply Chain Officer
Chief Legal Officer, Corporate Secretary, and Managing Director of MillerCoors LLC
What are the company’s goals (as outlined in the Letter to Shareholders)? Strategic? Financial? Product? Other?
For what years are financial data presented?
How many pages of notes are given?
• 98 pages
Give and discuss 10 things disclosed in the notes.
• Voting rights: they are held exclusively by class A and class A voting stockholders. • Conversion Rights: The Certificate of Incorporation provides for the right of holders of Class A common stock to convert their stock into Class B common stock on a one-for-one basis at any time. • Properties: Depreciation expense was $159.6 million, $167.5 million and $251.0 million for fiscal years 2010, 2009, and 2008, respectively • Employee retirement plans: Each plan is managed locally and in accordance with respective local laws and regulations. All retirement plans for MCBC employees in the United States are defined contribution pension plans. • Liquidity risk: We base the fair value of our derivative instruments upon market rates and prices. The volatility of these rates and prices are dependent on many factors that cannot be forecasted with reliable accuracy. The current fair values of our contracts could differ significantly from the cash settled values with our counterparties. As such, we are exposed to liquidity risk related to unfavorable changes in the fair value of our derivative contracts. • Supply Contracts: We have various long-term supply contracts with unaffiliated third parties and our joint venture partners to purchase materials used in production and packaging, such as starch, cans and glass. • Graphic Packaging Corporation: in 2008 42.7 million was spent on half of the years payments on a contract now held my MolsonCoors • Advertising and Promotions: Various long-term non cancelable commitments including marketing at sporting arenas, stadiums, and other venues and events. • Environmental: Other environmental costs are expensed when incurred. Environmental expenditures at each of our segments for 2010, 2009 and 2008 were $0.2 million, $1.5 million and $4.4 million, respectively. • Changes in internal control: There were no changes in internal control over financial reporting...