strategic-management

EXHIBIT 3 Molson Coors Consolidated Balance Sheet (in millions)
CASE 23 • MOLSON COORS — 2009 225
December 28,
As of
December 30,
2008 2007
Assets
Current assets:
Cash and cash equivalents $ 216.2 $ 377.0
Accounts and notes receivable:
Trade, less allowance for doubtful accounts of $7.9
and $8.8, respectively 432.9 758.5
Affiliates 39.6 —
Current notes receivable and other receivables, less
allowance for doubtful accounts of $3.3 and $3.2, respectively 162.9 112.6
Inventories:
Finished, less allowance for obsolete inventories 89.1 164.0
In process 13.4 40.7
Raw materials 43.3 82.3
Packaging materials, less allowance
for obsolete inventories 46.3 82.6
Total inventories 192.1 369.6
Maintenance and operating supplies, less allowance
for obsolete supplies of $4.6 and $10.6, respectively 14.8 34.8
Other current assets, less allowance for advertising supplies 47.1 100.9
Deferred tax assets — 17.9
Discontinued operations 1.5 5.5
Total current assets 1,107.1 1,776.8
Properties, less accumulated depreciation of
$673.5 and $2,715.1, respectively 1,301.9 2,696.2
Goodwill 1,298.0 3,346.5
Other intangibles, less accumulated amortization
of $274.9 and $312.1, respectively 3,923.4 5,039.4
Investment in MillerCoors 2,418.7 —
Deferred tax assets 105.3 336.9
Notes receivable, less allowance for doubtful
accounts of $8.1 and $7.9, respectively 51.8 71.2
Other assets 203.4 179.5
Discontinued operations 7.0 5.1
Total assets $ 10,416.6 $ 13,451.6
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable:
Trade $ 152.8 $ 351.6
Affiliates 17.7 29.1
Accrued expenses and other liabilities 690.8 1,189.1
Deferred tax liabilities 107.8 120.6
Short-term borrowings — 0.1
Current portion of long-term debt 0.1 4.2
continued