date:Jul 04, 2014
a result of the beer business acquisition. The increase in wine and spirits operating income primarily reflects favorable mix and lower SGA costs.
Equity in earnings of equity method investees totaled $1 million compared to $67 million for the prior year first quarter. The decrease was due primarily to the timing of the close of the beer business acquisition.
Interest expense totaled $86 million, an increase of 58 percent. The increase was primarily due to higher average borrowings driven by t