Molson Coors Beverage (TAP) 10-K 19 Feb 10 2009 FY Annual report Financial data

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Millions, except Per Share data	12 Months Ended Dec. 26, 2009	12 Months Ended Dec. 28, 2008	12 Months Ended Dec. 30, 2007
CONSOLIDATED STATEMENTS OF OPERATIONS
Sales	4426.5	6651.8	8319.7
Excise taxes	-1394.1	-1877.5	-2129.1
Net sales	3032.4	4774.3	6190.6
Cost of goods sold	-1726.9	-2840.8	-3702.9
Gross profit	1305.5	1933.5	2487.7
Marketing, general and administrative expenses	-900.8	-1333.2	-1734.4
Special items, net	-32.7	-133.9	-112.2
Equity income in MillerCoors	382	155.6
Operating income	754	622	641.1
Other (expense) income, net
Interest expense	-96.6	-119.1	-134.9
Interest income	10.7	17.3	26.6
Debt extinguishment costs		-12.4	-24.5
Other income (expense), net, includes $46.0 gain in 2009 on related party transaction, see Note 4.	49.4	-8.4	17.7
Total other expense, net	-36.5	-122.6	-115.1
Income from continuing operations before income taxes	717.5	499.4	526
Income tax (benefit) expense	14.7	-96.4	(1)
Income from continuing operations	732.2	403	525
Loss from discontinued operations, net of tax	(9)	-12.1	-17.7
Net income	723.2	390.9	507.3
Less: Net income attributable to noncontrolling interests	-2.8	-12.2	-15.3
Net income attributable to Molson Coors Brewing Company	720.4	378.7	492
Basic income (loss) per share:
From continuing operations (in dollars per share)	3.96	2.14	2.85
From discontinued operations (in dollars per share)	-0.05	-0.07	-0.1
Basic net income per share (in dollars per share)	3.91	2.07	2.75
Diluted income (loss) per share:
From continuing operations (in dollars per share)	3.92	2.11	2.81
From discontinued operations (in dollars per share)	-0.05	-0.07	-0.1
Diluted net income per share (in dollars per share)	3.87	2.04	2.71
Weighted average shares - basic (in shares)	184.4	182.6	178.7
Weighted average shares - diluted (in shares)	185.9	185.5	181.4
Amounts attributable to MCBC
Income from continuing operations, net of tax	729.4	390.8	509.7
Loss from discontinued operations, net of tax	(9)	-12.1	-17.7
Net income attributable to Molson Coors Brewing Company	720.4	378.7	$492

1_CONSOLIDATED STATEMENTS OF OP

CONSOLIDATED STATEMENTS OF OPERATIONS (PARENTHETICAL) (USD $)
In Millions	12 Months Ended Dec. 26, 2009
CONSOLIDATED STATEMENTS OF OPERATIONS
Other income (expense), gain on related party transaction	$46

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)
In Millions	Dec. 26, 2009	Dec. 28, 2008
Current assets:
Cash and cash equivalents	734.2	216.2
Accounts and notes receivable:
Trade, less allowance for doubtful accounts of $10.1 and $7.9, respectively	513.8	432.9
Affiliates	52.9	39.6
Current notes receivable and other receivables, less allowance for doubtful accounts of $2.8 and $3.3, respectively	150.5	162.9
Inventories:
Finished	111.1	89.1
In process	18.3	13.4
Raw materials	43.6	43.3
Packaging materials	63.2	46.3
Total inventories	236.2	192.1
Maintenance and operating supplies, less allowance for obsolete supplies of $4.1 and $4.6, respectively	17.7	14.8
Other current assets, less allowance for advertising supplies	47.6	47.1
Discontinued operations	9.9	1.5
Total current assets	1762.8	1107.1
Properties, less accumulated depreciation of $843.4 and $673.5, respectively	1292.5	1301.9
Goodwill	1,475	1,298
Other intangibles, less accumulated amortization of $356.8 and $274.9, respectively	4534.7	3923.4
Investment in MillerCoors	2613.6	2418.7
Deferred tax assets	177.9	75.3
Notes receivable, less allowance for doubtful accounts of $7.3 and $8.1, respectively	48.7	51.8
Other assets	115.9	203.4
Discontinued operations		7
Total assets	12021.1	10386.6
Accounts payable:
Trade	193.4	152.8
Affiliates	16.9	17.7
Accrued expenses and other liabilities	745	690.8
Deferred tax liabilities	167.1	107.8
Current portion of long-term debt	300.3	0.1
Discontinued operations	158.2	16.9
Total current liabilities	1580.9	986.1
Long-term debt	1412.7	1,752
Pension and post-retirement benefits	823.8	581
Derivative hedging instruments	374.2	225.9
Deferred tax liabilities	468	399.4
Unrecognized tax benefits	65	230.4
Other liabilities	185	47.6
Discontinued operations	18.7	124.8
Total liabilities	4928.3	4347.2
Capital stock:
Preferred stock, non-voting, no par value (authorized: 25.0 shares; none issued)	0	0
Paid-in capital	3441.5	3334.6
Retained earnings	2734.9	2184.9
Accumulated other comprehensive (loss) income	20.7	-371.4
Total Molson Coors Brewing Company stockholders' equity	7079.6	6055.4
Noncontrolling interests	13.2	(16)
Total equity	7092.8	6039.4
Total liabilities and equity	12021.1	10386.6
Class A Common Stock
Capital stock:
Common stock	0	0
Class A Common Stock | Common stock issued
Capital stock:
Total equity	0
Class B Common Stock
Capital stock:
Common stock	1.6	1.6
Class B Common Stock | Common stock issued
Capital stock:
Total equity	1.6	1.6
Class A Exchangeable Stock
Capital stock:
Exchangeable shares	119.1	119.4
Class A Exchangeable Stock | Exchangeable shares issued
Capital stock:
Total equity	119.1	119.4
Class B Exchangeable Stock
Capital stock:
Exchangeable shares	761.8	786.3
Class B Exchangeable Stock | Exchangeable shares issued
Capital stock:
Total equity	761.8	786.3

CONSOLIDATED BALANCE SHEETS (PA

CONSOLIDATED BALANCE SHEETS (PARENTHETICAL) (USD $)
In Millions, except Per Share data	Dec. 26, 2009	Dec. 28, 2008
Trade receivables, allowance for doubtful accounts	10.1	7.9
Current notes receivable and other receivables, allowance for doubtful accounts	2.8	3.3
Maintenance and operating supplies, allowance for obsolete supplies	4.1	4.6
Properties, accumulated depreciation	843.4	673.5
Other intangibles, accumulated amortization	356.8	274.9
Notes receivable, allowance for doubtful accounts	7.3	8.1
Preferred stock, non-voting, no par value (in dollars per share)	$0	$0
Preferred stock, non-voting, authorized (in shares)	25	25
Preferred stock, non-voting, issued (in shares)	0	0
Class A Common Stock
Common stock, par value (in dollars per share)	0.01	0.01
Common stock, authorized (in shares)	500	500
Common stock, issued (in shares)	2.6	2.7
Common stock, outstanding (in shares)	2.6	2.7
Class B Common Stock
Common stock, par value (in dollars per share)	0.01	0.01
Common stock, authorized (in shares)	500	500
Common stock, issued (in shares)	159.4	157.1
Common stock, outstanding (in shares)	159.4	157.1
Class A Exchangeable Stock
Exchangeable shares, issued (in shares)	3.2	3.2
Exchangeable shares, outstanding (in shares)	3.2	3.2
Class B Exchangeable Stock
Exchangeable shares, issued (in shares)	20.2	20.9
Exchangeable shares, outstanding (in shares)	20.2	20.9

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Millions	12 Months Ended Dec. 26, 2009	12 Months Ended Dec. 28, 2008	12 Months Ended Dec. 30, 2007
Cash flows from operating activities:
Net income	723.2	390.9	507.3
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	187.4	273.4	345.8
Amortization of debt issuance costs and discounts	19.4	17.1	13.2
Share-based compensation	22.8	55.9	37.4
(Gain) loss on sale or impairment of properties and intangibles	-38.1	39.2	49.6
Excess tax benefits from share-based compensation	-21.7	-8.3	-28.1
Deferred income taxes	127.8	78.6	-101.1
(Gain) loss on foreign currency fluctuations and derivative instruments	-0.1	-1.5	7.1
Equity income in MillerCoors	(382)	-155.6
Distributions from MillerCoors	401.1	136.5
Equity in net income of other unconsolidated affiliates	-6.9	-24.1	-6.6
Distributions from other unconsolidated affiliates	16.6	7.5	9.3
Change in current assets and liabilities (net of assets acquired and liabilities assumed in business combinations) and other:
Receivables	-63.3	-128.2	-47.7
Inventories	-11.7	39.3	-23.1
Payables	21	-10.5	-27.5
Other assets and other liabilities	-180.3	-310.8	-137.2
Operating cash flows of discontinued operations	9	12.1	17.6
Net cash provided by operating activities	824.2	411.5	616
Cash flows from investing activities:
Additions to properties and intangible assets	-124.7	-230.5	-428.3
Proceeds from sales of businesses and other assets	58	38.8	38.1
Proceeds from sales (purchases) of investment securities, net		22.8	-22.8
Acquisition of businesses, net of cash acquired	-41.7		-26.7
Investment in MillerCoors	-514.5	-84.3
Return of capital from Miller Coors	448.2
Deconsolidation of Brewers' Retail, Inc.	-26.1
Investment in and advances to an unconsolidated affiliate		-6.9
Trade loan repayments from customers	32.1	25.8	32.3
Trade loans advanced to customers	-25.5	-31.5	-32.9
Other	0.1	-3.7	1.2
Net cash used in investing activities	-194.1	-269.5	-439.1
Cash flows from financing activities:
Exercise of stock options under equity compensation plans	43.1	59	209.5
Excess tax benefits from share-based compensation	21.7	8.3	28.1
Dividends paid	-170.4	-139.1	-114.8
Dividends paid to noncontrolling interest holders	-2.9	-20.3	(17)
Proceeds from issuances of long-term debt		16
Proceeds from issuance of convertible debt			575
Debt issuance costs			-10.2
Sale of warrants			57
Purchase of call options			-106.7
Payments on long-term debt and capital lease obligations	-0.4	-181.3	(631)
Proceeds from short-term borrowings	14.7	54.5	179.2
Payments on short-term borrowings	(17)	-47.3	-180.5
Net proceeds from (payments on) revolving credit facilities		1.1	-6.1
Change in overdraft balances and other	(6)	-29.8	20.7
Proceeds from settlements of debt-related derivatives		12	5.2
Net cash (used in) provided by financing activities	-117.2	-266.9	8.4
Cash and cash equivalents:
Net increase (decrease) in cash and cash equivalents	512.9	-124.9	185.3
Effect of foreign exchange rate changes on cash and cash equivalents	5.1	-35.9	9.5
Balance at beginning of year	216.2	377	182.2
Balance at end of year	734.2	216.2	$377

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY AND NONCONTROLLING INTEREST (USD $)
In Millions	Class A Common Stock Common stock issued	Class B Common Stock Common stock issued	Class A Exchangeable Stock	Class B Exchangeable Stock	Retained earnings	Accumulated other comprehensive income (loss)	Paid-in-capital	Non controlling Interest	Total
Balance at Dec. 31, 2006		1.3	124.7	$1,311	1673.5	333.9	2389.9	28.6	5862.9
Increase (Decrease) in Stockholders' Equity
Exchange of shares		0.1	0.1	-365.7			365.5
Sale of warrants							57		57
Purchase of call options							(66)		(66)
Shares issued under equity compensation plan		0.1					238.7		238.8
Amortization of stock based compensation							37.4		37.4
Adjustment to adopt convertible debt guidance, see Note 2							64.2		64.2
Adjustment to adopt guidance to account for uncertainty in income taxes, see Note 2					-105.4				-105.4
Comprehensive income:
Net income (loss)					492			15.3	507.3
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments						783.2			783.2
Unrealized gain (loss) on derivative instruments, net						-3.4			-3.4
Realized gain (loss) on derivative instruments reclassified to net income, net						2.9			2.9
Pension and other postretirement benefit adjustments						6.3		-1.1	5.2
Other comprehensive income (loss)									1295.2
Dividends declared and paid					-114.8			(17)	-131.8
Balance at Dec. 30, 2007		1.5	124.8	945.3	1945.3	1122.9	3086.7	25.8	7252.3
Increase (Decrease) in Stockholders' Equity
Exchange of shares		0.1	-5.4	(159)			164.3
Shares issued under equity compensation plan							24.6		24.6
Amortization of stock based compensation							59		59
Contribution to MillerCoors						134.5		-26.3	108.2
Comprehensive income:
Net income (loss)					378.7			12.2	390.9
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments						-1234.7			-1234.7
Unrealized gain (loss) on derivative instruments, net						49			49
Realized gain (loss) on derivative instruments reclassified to net income, net						3.9			3.9
Ownership share of equity method investees other comprehensive income						-211.2			-211.2
Pension and other postretirement benefit adjustments						-235.8		-7.4	-243.2
Other comprehensive income (loss)									-1245.3
Dividends declared and paid					-139.1			-20.3	-159.4
Balance at Dec. 28, 2008		1.6	119.4	786.3	2184.9	-371.4	3334.6	(16)	6039.4
Increase (Decrease) in Stockholders' Equity
Exchange of shares			-0.3	-24.5			24.8
Shares issued under equity compensation plan							61		61
Amortization of stock based compensation							21.1		21.1
Acquisition of a business								9.6	9.6
Deconsolidation of BRI								-5.7	-5.7
Comprehensive income:
Net income (loss)					720.4			2.8	723.2
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments						614.7			614.7
Unrealized gain (loss) on derivative instruments, net						-28.7			-28.7
Realized gain (loss) on derivative instruments reclassified to net income, net						-10.6			-10.6
Ownership share of equity method investees other comprehensive income						56.7			56.7
Pension and other postretirement benefit adjustments						(240)		25.4	-214.6
Other comprehensive income (loss)									1140.7
Dividends declared and paid					-170.4			-2.9	-173.3
Balance at Dec. 26, 2009	$0	1.6	119.1	761.8	2734.9	20.7	3441.5	13.2	7092.8

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies
	12 Months Ended Dec. 26, 2009 USD / shares
Notes to Consolidated Financial Statements
Basis of Presentation and Summary of Significant Accounting Policies	1. Basis of Presentation and Summary of Significant Accounting Policies Unless otherwise noted in this report, any description of "we", "us" or "our" includes Molson Coors Brewing Company ("MCBC" or the "Company"), principally a holding company, and its operating subsidiaries: Coors Brewing Company ("CBC"), operating in the United States ("U.S.") until June30, 2008 when MCBC and SABMillerplc ("SABMiller") combined the U.S. and Puerto Rico operations of their respective subsidiaries, CBC and Miller Brewing Company ("Miller") and the results and financial position of U.S. operations, which had historically comprised substantially all of our U.S. reporting segment were, in all material respects, deconsolidated from MCBC prospectively upon formation of MillerCoorsLLC ("MillerCoors"), see Note4, "Equity Investments"; Molson Coors Brewing Company (UK) Limited ("MCBC-UK"), formerly referred to as Coors Brewers Limited ("CBL"), operating in the United Kingdom ("U.K."); Molson Coors Canada ("MCC"), formerly referred to as Molson Canada ("Molson"), operating in Canada; and our other corporate entities. Any reference to "Coors" means the Adolph Coors Company prior to the 2005 merger with MolsonInc. (the "Merger"). Any reference to MolsonInc. means MCC prior to the Merger. Any reference to "Molson Coors" means MCBC after the Merger. Unless otherwise indicated, information in this report is presented in U.S. dollars ("USD" or "$"). Our Fiscal Year In 2009, our fiscal year is a 52week period ending on the last Saturday in December. Previously, our fiscal year was a 52 or 53week period ending on the last Sunday in December. The fiscal years ended December26, 2009, December28, 2008, and December30, 2007, were 52week periods. Principles of Consolidation Our consolidated financial statements include our accounts and our majority-owned and controlled domestic and foreign subsidiaries, as well as certain variable interest entities. All significant intercompany accounts and transactions have been eliminated in consolidation. Reporting Periods Presented The results from Brewers' Retail,Inc. ("BRI"), a consolidated subsidiary through February28, 2009, are reported one month in arrears. Due to a change in our ownership level of BRI, we deconsolidated this entity from our financial statements as of March1, 2009, and began to prospectively account for it under the equity method of accounting. See Note4, "Equity Method Investments" for further information. Use of Estimates Our consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (U.S.GAAP). These accounting principles require us to make certain estimates, judgments and assumptions. We believe that the estimates, judgments and assumptions used to determine certain amounts that affect the financial statements are reasonable, based on information available at the time they are made. To the extent there are material differences between these estimates and actual results, our consolidated financial statements may be affected. Reclassifications and Retrospective Applications During the first quarter of 20

New Accounting Pronouncements

New Accounting Pronouncements
	12 Months Ended Dec. 26, 2009 USD / shares
Notes to Consolidated Financial Statements
New Accounting Pronouncements	2. New Accounting Pronouncements Adoption of New Accounting Pronouncements Accounting for Uncertainty in Income Taxes On January1, 2007, we adopted the FASB's guidance related to accounting for uncertainty in income taxes. This guidance clarifies the accounting for uncertainty in income taxes recognized in an enterprise's financial statements by prescribing a two-step process to determine the amount of tax benefit to be recognized. However, the tax position must be evaluated to determine the likelihood that it will be sustained upon examination. If the tax position is deemed "more-likely-than-not" to be sustained, the tax position is then valued to determine the amount of benefit to be recognized in the financial statements. The cumulative effect of applying the new requirement has been recorded as a reduction to the beginning balance of retained earnings as of January1, 2007 in the amount of $105.4million. See Note8, "Income Tax," for further discussion related to income taxes Business Combinations In December2007, the FASB issued authoritative guidance for business combinations, which establishes principles and requirements for the manner in which the acquirer in a business combination (i)recognizes and measures in its financial statements the identifiable assets acquired, the liabilities assumed and any noncontrolling interest in the acquiree, (ii)recognizes and measures the goodwill acquired in the business combination or a gain from a bargain purchase and (iii)determines what information to disclose to enable users of the financial statements to evaluate the nature and financial effects of the business combination. In addition to new financial statement disclosures, this guidance also changes the accounting treatment for certain specific items, including the expensing of acquisition costs and restructuring costs associated with a business combination, and changes in deferred tax asset valuation allowances and income tax uncertainties after the acquisition date which generally affects income tax expense. This guidance applies prospectively to business combinations for which the acquisition date is on or after December29, 2008, with the exception of the accounting for valuation allowances on deferred tax assets and acquired tax contingencies, for which the adoption is retrospective. The adoption of this guidance did not have a significant impact on the determination or reporting of our financial results. Noncontrolling Interests In December2007, the FASB issued authoritative guidance related to noncontrolling interests in consolidated financial statements. This guidance requires the recognition of a noncontrolling interest (previously referred to as minority interest) as a component of equity in the consolidated financial statements and separate from the parent's equity. The amount of net income attributable to the noncontrolling interest is included in consolidated net income in the consolidated statement of operations. It also amends existing guidance to be consistent with the revised guidance for business combinations discussed above, including procedures associated with the deconsolidation of a subsidiary. As such,

Segment Reporting

Segment Reporting
	12 Months Ended Dec. 26, 2009 USD / shares
Notes to Consolidated Financial Statements
Segment Reporting	3. Segment Reporting Our reporting segments are based on the key geographic regions in which we operate, which are the basis on which our chief operating decision maker evaluates the performance of the business. The Company operates in the reporting segments listed below. Reportable segments Canada The Canada segment consists of our production, marketing and sales of the Molson family of brands, Coors Light and other brands, principally in Canada; BRI, our joint venture arrangement related to the distribution and retail sale of beer in Ontario and BDL, our joint venture arrangement related to the distribution of beer in the western provinces, both accounted for as equity method investments. The Canada segment also includes our equity interest in Modelo Molson Imports, L.P ("MMI"). We have an agreement with HeinekenN.V. that grants us the right to import, market, and sell Heineken products throughout Canada and with Miller BrewingCo., a subsidiary of SABMiller, to brew, market, and sell several Miller brands, and distribute and sell imported Miller brands. We also have the right to contract brew and package Asahi for the U.S. market. United States (U.S.) As discussed in Note1, "Basis of Presentation and Summary of Significant Accounting Policies," effective July1, 2008, MillerCoorsLLC ("MillerCoors") began operations. The results and financial position of our U.S. segment operations were deconsolidated upon contribution to the joint venture, and our interest in MillerCoors is being accounted for and reported by us under the equity method of accounting. MCBC's equity investment in MillerCoors will represent our U.S. segment going forward. United Kingdom (U.K.) The U.K. segment consists of our production, marketing and sales of the MCBC-UK brands (the largest of which is Carling), principally in the U.K. and the Republic of Ireland; our consolidated joint venture arrangement relating to the production and distribution of the Grolsch brands in the U.K. and the Republic of Ireland; and our equity method joint venture arrangement ("Tradeteam") for the physical distribution of products throughout Great Britain. Non-reportable segment and other business activities Molson Coors International ("MCI") and Corporate MCI includes results of operations in developing markets around the world, including Asia, Mexico, the Caribbean (not including Puerto Rico) and continental Europe. Corporate includes interest and certain other general and administrative costs that are not allocated to any of the operating segments. The majority of these corporate costs relate to worldwide administrative functions, such as corporate affairs, legal, human resources, accounting, treasury, insurance and risk management. Corporate also includes certain royalty income and administrative costs related to the management of intellectual property. Summarized financial information No single customer accounted for more than 10% of our sales. Net sales represent sales to third party external customers. Inter-segment sales revenues other than sales to MillerCoors are insignificant and eliminated in consolidation. The following tables represent co

Equity Investments

Equity Investments
	12 Months Ended Dec. 26, 2009 USD / shares
Notes to Consolidated Financial Statements
Equity Investments	4. Equity Investments Investment in MillerCoors Effective July1, 2008, MCBC and SABMiller combined the U.S. and Puerto Rico operations of their respective subsidiaries, CBC and Miller. MillerCoors has a Board of Directors consisting of five MCBC-appointed directors 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. The results and financial position of U.S. operations, which had historically comprised substantially all of our U.S. reporting segment were, in all material respects, deconsolidated from MCBC prospectively upon formation of MillerCoors. Our interest in the new combined operations is accounted for under the equity method of accounting. The following table summarizes the carrying values of net assets contributed to MillerCoors on July1, 2008 (inmillions): As of July1, 2008 Current assets $ 684.9 Property, plant and equipment 1,004.3 Goodwill 1,608.8 Total assets contributed 3,298.0 Current liabilities 573.2 Noncurrent liabilities 204.3 Total liabilities 777.5 Accumulated other comprehensive loss(1) (211.9 ) Net assets contributed $ 2,732.4 (1) Represents the accumulated other comprehensive loss associated with employee retirement and post-employment benefit plan obligations and derivative assets contributed to MillerCoors. Summarized financial information for MillerCoors is as follows (in millions): Condensed balance sheet As of December31, 2009 December31, 2008 Current assets $ 808.5 $ 849.0 Noncurrent assets 9,025.0 8,853.2 Total assets $ 9,833.5 $ 9,702.2 Current liabilities $ 885.4 $ 1,033.6 Noncurrent liabilities 1,278.4 1,412.3 Total liabilities 2,163.8 2,445.9 Noncontrolling interests 28.1 29.4 Interest attributable to shareholders' 7,641.6 7,226.9 Total liabilities and shareholders' investment $ 9,833.5 $ 9,702.2 Results of operations For the year ended December31, 2009 For the six months ended December31, 2008 Actual Net sales $ 7,574.3 $ 3,689.4 Cost of goods sold (4,720.9 ) (2,326.0 ) Gross profit $ 2,853.4 $ 1,363.4 Operating income $ 866.1 $ 227.2 Net income attributable to MillerCoors $ 842.8 $ 222.4 The following represents MCBC's proportional share in MillerCoors of net income reported under the equity method (inmillions): For the year ended December31, 2009 For the six months ended December31, 2008 MillerCoors net income $ 842.8 $ 222.4 MCBC economic interest 42 % 42 % MCBC proportionate share of Mil

Discontinued Operations

Discontinued Operations
	12 Months Ended Dec. 26, 2009 USD / shares
Notes to Consolidated Financial Statements
Discontinued Operations	5. Discontinued Operations In 2006, we sold a 68% equity interest in our Brazilian unit, Cervejarias Kaiser BrasilS.A. ("Kaiser"), to FEMSA CervezaS.A. de C.V. ("FEMSA"). The terms of the sale agreement require us to indemnify FEMSA for exposures related to certain tax, civil and labor contingencies arising prior to FEMSA's purchase of Kaiser (See Note21, "Commitments and Contingencies"). The table below summarizes the loss from discontinued operations, net of tax, presented on our consolidated statements of operations: For the years ended December26, 2009 December28, 2008 December30, 2007 (Inmillions) Gain on sale of Kaiser(1) $ $ $ (2.7 ) Adjustments to indemnity liabilities due to changes in estimates, foreign exchange gains and losses, and accretion expense (See "Footnote21") 9.0 12.1 20.4 Loss from discontinued operations, net of tax $ 9.0 $ 12.1 $ 17.7 (1) The $2.7million gain recognized in 2007 resulted from a deferred tax liability adjustment related to the Kaiser transaction. As of December26, 2009, included in current assets of discontinued operations on the balance sheet is $9.9million of deferred tax assets associated with these indemnity liabilities. As of December28, 2008, included in current and non-current assets of discontinued operations on the balance sheet are $1.5million and $7.0million, respectively, of deferred tax assets associated with these indemnity liabilities.

Variable Interest Entities

Variable Interest Entities
	12 Months Ended Dec. 26, 2009 USD / shares
Notes to Consolidated Financial Statements
Variable Interest Entities	6. Variable Interest Entities Brewers' RetailInc. We deconsolidated BRI from our financial statements during the first quarter of 2009. See Note4, "Equity Investments" for further discussion. Rocky Mountain Metal Container RMMC, a Colorado limited liability company, is a joint venture with Ball Corporation in which MillerCoors holds and consolidates a 50% interest. Prior to the formation of MillerCoors on July1, 2008, CBC held the 50% interest in RMMC and consolidated the results and financial position of RMMC in 2007 and first half of 2008. MillerCoors has a can and end supply agreement with RMMC. RMMC is a non-taxable entity, accordingly, for the periods RMMC was consolidated, income tax expense on the accompanying statements of operations only includes taxes related to our share of the joint venture income or loss. MCBC remains the guarantor of approximately $37.4million and $43.3million of RMMC debt at December26, 2009 and December28, 2008, respectively. Rocky Mountain Bottle Company RMBC, a Colorado limited liability company, is a joint venture with Owens-Brockway Glass Container,Inc. ("Owens") in which MillerCoors holds a 50% interest. RMBC produces glass bottles at MillerCoors' glass manufacturing facility for use at its Golden and other breweries. The results and financial position of RMBC were consolidated in our financial statements in 2007 and the first half of 2008. MillerCoors consolidates RMBC and the results and financial position of RMBC are reflected through our equity method accounting for MillerCoors beginning July1, 2008. RMBC is a non-taxable entity; accordingly, for the periods RMBC was consolidated by us, income tax expense in our consolidated statements of operations only includes taxes related to our share of the joint venture income or loss. Grolsch Grolsch is a joint venture between MCBC-UK and Royal GrolschN.V. in which we hold a 49% interest. The Grolsch joint venture markets Grolsch branded beer in the United Kingdom and the Republic of Ireland. The majority of the Grolsch branded beer is produced by MCBC-UK under a contract brewing arrangement with the joint venture. MCBC-UK and Royal GrolschN.V. sell beer to the joint venture, which sells the beer back to MCBC-UK (for onward sale to customers) for a price equal to what it paid, plus a marketing and overhead charge and a profit margin. Grolsch is a taxable entity in the United Kingdom. Accordingly, income tax expense in our Consolidated Statements of Operations includes taxes related to the entire income of the joint venture. Cobra Beer Partnership,Ltd During the second quarter of 2009, MCBC-UK purchased 50.1% of Cobra Beer Partnership,Ltd ("CBPL"), which owns the United Kingdom and world-wide rights to the Cobra beer brand (with the exception of the Indian sub-continent area). The addition of the Cobra beer brands broaden our specialty beer portfolio and provides access to additional on-premise outlets (primarily ethnic restaurants) in the U.K. The non-controlling interest is held by the founder of the Cobra beer brand. We consolidate the results and financial position of CBPL and it is reported within our U.K. operating segment. W

Other Income and Expense

Other Income and Expense
	12 Months Ended Dec. 26, 2009 USD / shares
Notes to Consolidated Financial Statements
Other Income and Expense	7. Other Income and Expense For the years ended December26, 2009 December28, 2008 December30, 2007 (Inmillions) Gain (loss) on disposals of non-operating long-lived assets $ $ 1.7 $ (0.3 ) Gain on sale of Montral Canadiens 46.0 Gain on sale of House of Blues Canada equity investment 16.7 Equity (loss) income of unconsolidated affiliates, other than MillerCoors, net (1.2 ) 3.1 4.3 Gain (loss) from foreign exchange and derivatives(1) 6.1 (7.4 ) (1.5 ) Environmental reserve (1.5 ) (4.4 ) Asset impairments of non-operating assets (0.2 ) (1.7 ) Loss on non-operating leases (3.6 ) (2.4 ) (1.8 ) Other, net 3.6 1.2 2.0 Other income (expense), net $ 49.4 $ (8.4 ) $ 17.7 (1) During the third quarter of 2008, we entered into a cash settled total return swap with Deutsche Bank in order to gain an economic interest exposure to Foster's Group ("Foster's") stock (ASX:FGL), a major global brewer (see Note19, "Derivative Instruments and Hedging Activities"). We recognized a net gain on the fair value of the swap of $0.7million during 2009 and a net loss of $4.4million during 2008.

Income Tax

Income Tax
	12 Months Ended Dec. 26, 2009 USD / shares
Notes to Consolidated Financial Statements
Income Tax	8. Income Tax The pre-tax income on which the provision for income taxes was computed is as follows: For the years ended December26, 2009 December28, 2008 December30, 2007 (Inmillions) Domestic $ 477.1 $ 372.7 $ 370.0 Foreign 240.4 126.7 156.0 Total $ 717.5 $ 499.4 $ 526.0 Income tax expense (benefit) includes the following current and deferred provisions: For the years ended December26, 2009 December28, 2008 December30, 2007 (Inmillions) Current: Federal $ (51.3 ) $ (8.1 ) $ 69.8 State 9.6 0.4 6.5 Foreign (100.8 ) 25.5 25.8 Total current tax (benefit) expense $ (142.5 ) $ 17.8 $ 102.1 Deferred: Federal $ 87.0 $ 60.2 $ (18.6 ) State 14.7 15.4 (1.0 ) Foreign 26.1 3.0 (81.5 ) Total deferred tax expense (benefit) $ 127.8 $ 78.6 $ (101.1 ) Total income tax (benefit) expense from continuing operations $ (14.7 ) $ 96.4 $ 1.0 Our income tax expense varies from the amount expected by applying the statutory federal corporate tax rate to income as follows: For the years ended December26, 2009 December28, 2008 December30, 2007 Statutory Federal income tax rate 35.0 % 35.0 % 35.0 % State income taxes, net of federal benefits 2.0 % 1.3 % 0.8 % Effect of foreign tax rates (21.7 )% (21.1 )% (18.9 )% Effect of foreign tax law and rate changes (2.7 )% (15.4 )% Effect of changes to unrecognized tax benefits (18.8 )% (1.8 )% (2.9 )% Effect of MillerCoors one-time costs 3.3 % Other, net 4.2 % 2.6 % 1.6 % Effective tax rate (2.0 )% 19.3 % 0.2 % Our deferred taxes are composed of the following: As of December26, 2009 December28, 2008 (Inmillions) Current deferred tax assets: Compensation related obligations $ 0.8 $ 0.8 Accrued liabilities and other 42.4 49.0 Tax credit carryforward 21.1 Valuation allowance (0.1 ) Total current deferred tax assets 64.3 49.7 Current deferred tax liabilities: Partnership investments 217.7 146.2 Inventory 13.1 11.2 Other 0.6 Total current deferred tax liabilities 231.4 157.4 Net current deferred tax assets(1) Net current deferred tax liabilities(1) $ 167.1 $ 107.7 Non-current deferred tax assets: Compensation related obligations $ 12.2 $ 20.9 Postretirement benefits 220.0 166.7 Foreign exchange losses 182.4 65.6 Convertible debt 1.4 1.4 Hedging 12.1 Tax loss carryforwards 24.3 25.8 Intercompany financing 15.2 Partnership investments

Unusual or Infrequent Items

Unusual or Infrequent Items
	12 Months Ended Dec. 26, 2009 USD / shares
Notes to Consolidated Financial Statements
Unusual or Infrequent Items	9. Unusual or Infrequent Items We have incurred charges or gains that are not indicative of our core operations. As such, we have separately classified these costs as special items. Summary of Special Items For the years ended December26, 2009 December28, 2008 December30, 2007 (Inmillions) CanadaRestructuring, exit and other related costs associated with the Edmonton and Montral breweries $ 7.6 $ 10.9 $ 51.1 CanadaImpairment of Foster's distribution right intangible asset 24.1 CanadaPension curtailment loss 5.3 U.S.MillerCoors joint venture associated costs 37.9 6.7 U.S.Impairment of Molson brands intangible asset 50.6 U.S.Impairments of fixed assets 2.6 U.S.Gain on sale of distribution businesses (21.8 ) U.S.Other restructuring charges 2.8 U.K.Non-income-related tax reserve 10.4 U.K.Restructuring charges and related exit costs 2.8 8.6 14.1 U.K.- Pension curtailment gain (10.4 ) U.K.Costs associated with Cobra Beer partnership 5.7 U.K.Gain on sale of non-core business (2.7 ) MCI and CorporateGain on change in control agreements for Coors executives (0.5 ) MCI and CorporateCosts associated with the MillerCoors joint venture 28.8 13.9 MCI and CorporateCosts associated with outsourcing and other strategic initiatives 0.9 29.4 Total special items $ 32.7 $ 133.9 $ 112.2 Canada Segment In 2009, we recognized a $5.3million pension curtailment loss (see Note17 "Employee Retirement Plans" and Note18 "Postretirement Benefits") and $3.0million of restructuring costs associated with employee terminations at the Montral brewery driven by MillerCoors' decision to shift Blue Moon production to its facilities in the U.S. Additionally, the segment incurred $4.6million of Edmonton brewery site preparation and impairment closure costs during 2009. The facility was closed in 2007 and we transferred the facility's production to our other breweries in Canada. Current plans are to demolish the building and sell the land. Approximately 130 employees were impacted by the brewery's closure. In 2008, we incurred $6.2million of clean-up, remediation and general up-keep costs associated with the closed Edmonton brewery, an asset held for sale. We also incurred $3.6million of asset impairment and employee termination charges at the Montral brewery as a result of MillerCoors' decision to shift Blue Moon production to its facilities in the U.S and $1.1million of employee termination costs associated with the outsourcing of administrative functions. In 2007, we recorded a pretax non-cash impairment charge of approximately $31.9million associated with the carrying amount of fixed assets at the Edmonton brewery in excess of estimated market value, $6.1million for severance and other employee related costs and $8.5million of other costs associated with the brewery's closure in 2007. We also recognized an intangible asset impai

Stockholders' Equity

Stockholders' Equity
	12/29/2008 - 12/26/2009 USD / shares
Notes to Consolidated Financial Statements
Stockholders' Equity	10. Stockholders' Equity Changes to the number of shares of capital stock issued were as follows: Common stock issued Exchangeable shares issued ClassA ClassB ClassA ClassB (Share amounts inmillions) Balances at December31, 2006 2.7 133.2 3.3 34.8 Shares issued under equity compensation plans 6.7 Shares exchanged for common stock 9.7 (9.7 ) Balances at December30, 2007 2.7 149.6 3.3 25.1 Shares issued under equity compensation plans 3.1 Shares exchanged for common stock 4.4 (0.1 ) (4.2 ) Balances at December28, 2008 2.7 157.1 3.2 20.9 Shares issued under equity compensation plans 1.5 Shares exchanged for common stock (0.1 ) 0.8 (0.7 ) Balances at December26, 2009 2.6 159.4 3.2 20.2 Preferred Stock At December26, 2009 and December28, 2008, 25.0million shares of no par value preferred stock were authorized but not issued. ClassA and ClassB Common Stock Dividend Rights Subject to the rights of the holders of any series of preferred stock, stockholders of Molson Coors ClassA common stock (ClassA common stock) are entitled to receive, from legally available funds, dividends when and as declared by the Board of Directors of Molson Coors, except that so long as any shares of Molson Coors ClassB common stock (ClassB common stock) are outstanding, no dividend will be declared or paid on the ClassA common stock unless at the same time a dividend in an amount per share (or number per share, in the case of a dividend paid in the form of shares) equal to the dividend declared or paid on the ClassA common stock is declared or paid on the ClassB common stock. Voting Rights Except in limited circumstances, including the right of the holders of the ClassB common stock and special ClassB voting stock voting together as a single class to elect three directors to the Molson Coors Board of Directors, the right to vote for all purposes is vested exclusively in the holders of the ClassA common stock and special ClassA voting stock, voting together as a single class. The holders of ClassA common stock are entitled to one vote for each share held, without the right to cumulate votes for the election of directors. An affirmative vote is required of a majority of the votes entitled to be cast by the holders of the ClassA common stock and special ClassA voting stock (through which holders of ClassA exchangeable shares vote), voting together as a single class, prior to the taking of certain actions, including: the issuance of any shares of ClassA common stock or securities convertible into ClassA common stock (other than upon the conversion of ClassB common stock under circumstances provided in the certificate of incorporation or the exchange or redemption of ClassA exchangeable shares in accordance with the terms of those exchangeable shares) or securities (other than ClassB common stock) convertible into or exercisable for Clas

Earnings Per Share

Earnings Per Share
	12 Months Ended Dec. 26, 2009 USD / shares
Notes to Consolidated Financial Statements
Earnings Per Share	11. Earnings Per Share Basic income per common share was computed using the weighted average number of shares of common stock outstanding during the period. Diluted income per share includes the additional dilutive effect of our potentially dilutive securities, which include certain stock options ("options"), stock-only stock appreciation rights ("SOSAR"), restricted stock units ("RSU"), deferred stock units ("DSU"), performance shares ("PSU") and performance units ("PU"). The dilutive effects of our potentially dilutive securities are calculated using the treasury stock method. Diluted income per share could also be impacted by our convertible debt and related warrants outstanding if they were in the money. The following summarizes the effect of dilutive securities on diluted EPS: For the years ended December26, 2009 December28, 2008 December30, 2007 (Inmillions, except per share amounts) Net income attributable to MCBC $ 720.4 $ 378.7 $ 492.0 Weighted average shares for basic EPS 184.4 182.6 178.7 Effect of dilutive securities: Options, LOSARs and SOSARs 1.0 1.8 2.5 RSUs, PUs and DSUs 0.5 1.1 0.2 Weighted average shares for diluted EPS 185.9 185.5 181.4 Basic income (loss) per share: From continuing operations $ 3.96 $ 2.14 $ 2.85 From discontinued operations (0.05 ) (0.07 ) (0.10 ) Basic income per share $ 3.91 $ 2.07 $ 2.75 Diluted income (loss) per share: From continuing operations $ 3.92 $ 2.11 $ 2.81 From discontinued operations (0.05 ) (0.07 ) (0.10 ) Diluted income per share $ 3.87 $ 2.04 $ 2.71 Dividends declared and paid per share $ 0.92 $ 0.76 $ 0.64 Our calculation of weighted average shares includes all four classes of our outstanding stock: ClassA and ClassB Common, and ClassA and ClassB Exchangeable. Exchangeable shares are the equivalent of common shares, by class, in all respects. All classes of stock have in effect the same dividend rights and share equitably in undistributed earnings. ClassA shareholders receive dividends only to the extent dividends are declared and paid to ClassB shareholders. See Note10, "Stockholders' Equity," for further discussion of the features of ClassA and B Common shares and ClassA and BExchangeable shares. The following anti-dilutive securities were excluded from the computation of the effect of dilutive securities on earnings per share for the following periods: For the years ended December26, 2009 December28, 2008 December30, 2007 (Inmillions) Options, SOSARs and RSUs(1) 0.6 0.3 0.2 PUs and PSUs 2.1 Shares issuable upon assumed conversion of the 2.5%Convertible Senior Notes to issue ClassB common shares(2) 10.5 10.5 5.7 Warrants to issue ClassB common shares(2) 10.5 10.5 5.7 21.6 21.3 13

Properties

Properties
	12 Months Ended Dec. 26, 2009 USD / shares
Notes to Consolidated Financial Statements
Properties	12. Properties The cost of properties and related accumulated depreciation and amortization consists of the following: As of December26, 2009 December28, 2008 (Inmillions) Land and improvements $ 105.7 $ 117.7 Buildings and improvements 324.9 391.3 Machinery and equipment 1,323.4 1,145.0 Furniture and fixtures 292.3 246.6 Software 42.2 22.9 Natural resource properties 3.0 3.0 Construction in progress 44.4 48.9 Total properties cost 2,135.9 1,975.4 Less accumulated depreciation and amortization (843.4 ) (673.5 ) Net properties $ 1,292.5 $ 1,301.9 Depreciation expense was $146.9million, $230.1million and $283.4million for fiscal years 2009, 2008, and 2007, respectively. Certain equipment held under capital lease is classified as equipment and amortized using the straight-line method or estimated useful life, whichever is shorter over the lease term. Lease amortization is included in depreciation expense. Expenditures for new facilities and improvements that substantially extend the capacity or useful life of an asset are capitalized. Start-up costs associated with manufacturing facilities, but not related to construction, are expensed as incurred. Ordinary repairs and maintenance are expensed as incurred. MCBC-UK owns and maintains the dispensing equipment in on-premise retail outlets. Dispensing equipment that transfers the beer from the keg in the cellar to the glass is capitalized at cost upon installation and depreciated on a straight-line basis over lives of up to 7years, depending on the nature and usage of the equipment. Labor and materials used to install dispensing equipment are capitalized and depreciated over 2years. Dispensing equipment awaiting installation is held in inventory and valued at the lower of cost or market. Ordinary repairs and maintenance are expensed as incurred. The following table details the ranges of the useful economic lives assigned to depreciable property, plant and equipment for the periods presented: Useful Economic Lives as of December26, 2009 Buildings and improvements 20-40years Machinery and equipment 3-25years Furniture and fixtures 3-10years

Goodwill and Intangible Assets

Goodwill and Intangible Assets
	12 Months Ended Dec. 26, 2009 USD / shares
Notes to Consolidated Financial Statements
Goodwill and Intangible Assets	13. Goodwill and Intangible Assets The following summarizes the changes in goodwill: As of December26, 2009 December28, 2008 (Inmillions) Balance at beginning of year $ 1,298.0 $ 3,346.5 Contribution to MillerCoors (1,608.8 ) Foreign currency translation 164.0 (438.2 ) Business acquisitions 13.0 Unrecognized tax benefits adjustments subsequent to adoption of new guidance (0.1 ) Transfer from goodwill to intangible assets (1.4 ) Balance at end of year $ 1,475.0 $ 1,298.0 Goodwill was allocated between our reportable segments as follows: As of December26, 2009 December28, 2008 (Inmillions) Canada $ 720.7 $ 614.8 United Kingdom 754.3 683.2 Consolidated $ 1,475.0 $ 1,298.0 The following table presents details of our intangible assets, other than goodwill, as of December26, 2009: Useful life Gross Accumulated amortization Net (Years) (Inmillions) Intangible assets subject to amortization: Brands 3-40 $ 293.5 $ (140.1 ) $ 153.4 Distribution rights 2-23 334.4 (194.3 ) 140.1 Patents and technology and distribution channels 3-10 35.8 (22.4 ) 13.4 Intangible assets not subject to amortization: Brands Indefinite 3,248.8 3,248.8 Distribution networks Indefinite 963.5 963.5 Other Indefinite 15.5 15.5 Total $ 4,891.5 $ (356.8 ) $ 4,534.7 The following table presents details of our intangible assets, other than goodwill, as of December28, 2008: Useful life Gross Accumulated amortization Net (Years) (Inmillions) Intangible assets subject to amortization: Brands 3-35 $ 247.1 $ (107.9 ) $ 139.2 Distribution rights 2-23 289.0 (149.4 ) 139.6 Patents and technology and distribution channels 3-10 25.8 (17.6 ) 8.2 Intangible assets not subject to amortization: Brands Indefinite 2,790.8 2,790.8 Distribution networks Indefinite 827.9 827.9 Other Indefinite 17.7 17.7 Total $ 4,198.3 $ (274.9 ) $ 3,923.4 The change in the gross carrying amounts of intangibles from December28, 2008 to December26, 2009, is primarily due to the impact of foreign exchange rate fluctuations, as a significant amount of intangibles are denominated in foreign currencies. The gross carrying value was also impacted by the 50.1% purchase of CBPL and the acquisition of Granville Island. During the second quarter of 2008, we recognized an impairment charge of $50.6million associated with a Molson brands intangible asset, an asset which represented the value of the Molson brands sold in the U.S. only. This intangible asset was not subject to amortization. While our accounting policy calls for annual test

Debt

Debt
	12 Months Ended Dec. 26, 2009 USD / shares
Notes to Consolidated Financial Statements
Debt	14. Debt Our total long-term borrowings as of December26, 2009 and December28, 2008, were composed of the following: As of December26, 2009 December28, 2008 (Inmillions) Senior notes: U.S. $850million 6.375% due 2012(1) $ 44.6 $ 44.6 U.S. $300million 4.85% due 2010(2) 300.0 300.0 CAN $900million 5.0% due 2015(2) 857.2 736.5 U.S. $575 million Convertible debt 2.5% due 2013(3) 575.0 575.0 Credit facility(4) Other notes payable issued by: BRI joint venture 7.5% due 2011(5) 176.0 Less: unamortized debt discounts and other (63.8 ) (80.0 ) Total long-term debt (including current portion) 1,713.0 1,752.1 Less: current portion of long-term debt (300.3 ) (0.1 ) Total long-term debt $ 1,412.7 $ 1,752.0 Total fair value $ 1,913.6 $ 1,817.5 (1) On May7, 2002, CBC completed a private placement of $850million of 6.375% senior notes, due 2012, with interest payable semi-annually. The notes are unsecured, are not subject to any sinking fund provision and include a redemption provision if the notes are retired before their scheduled maturity. The redemption price is equal to the greater of (1)100% of the principal amount of the notes plus accrued and unpaid interest and (2)the present value of the principal amount of the notes and interest to be redeemed. Net proceeds from the sale of the notes, after deducting estimated expenses and underwriting fees, were approximately $841million. The notes were subsequently exchanged for publicly registered notes with the same terms. On July11, 2007, we repurchased $625million aggregate principal amount of those notes. On February7, 2008, we announced a tender for repurchase of any and all of the remaining principal amount of $225million, with the tender period running through February14, 2008. The net costs of $12.4million related to this extinguishment of debt and termination of related interest rate swaps was recorded in the first quarter of 2008. The amount actually repurchased was $180.4million with $45.3million outstanding as of December26, 2009, which, in addition to the remaining principal amount of $44.6million, also includes a liability of $0.7million related to interest rate swaps transacted around this debt issuance in 2002, but were cash settled in 2008 in conjunction with the tender offer. This remaining balance relates to the outstanding principal amount and is being amortized over the remaining term of this debt. (2) On September22, 2005, Molson Coors Capital FinanceULC (MCCF), a Nova Scotia entity, and Molson Coors International,LP, a Delaware partnership, both wholly owned subsidiaries of MCBC, issued 10-year and 5-year private placement debt securities totaling CAD$900million in Canada and U.S. $300million in the United States, bearing interest at 5.0% and at 4.85%, respectively paid semi-annually. Both offerings are guaranteed by MCBC, and all of its significant subsidiaries. The securities have certain restrictions on secured borrowing, sale-leaseback transactions a

Share-Based Payments

Share-Based Payments
	12 Months Ended Dec. 26, 2009 USD / shares
Notes to Consolidated Financial Statements
Share-Based Payments	15. Share-Based Payments At December26, 2009, we had three stock-based compensation plans. The 1990 Equity Incentive Plan The 1990 Equity Incentive Plan ("EIPlan") generally provides for two types of grants for our employees: stock options and restricted stock awards. The stock options have a term of 10years and one-third of the stock option award vests in each of the three successive years after the date of grant. There were no awards granted under the EIPlan in 2009, 2008, or 2007 and we are not expecting to grant any new awards under this plan. Equity Compensation Plan for Non-Employee Directors The Equity Compensation Plan for Non-Employee Directors ("ECPlan") provides for awards of the Company's ClassB shares of restricted stock or options for ClassB shares. Awards vest after completion of the director's annual term. The compensation cost associated with the ECplan is amortized over the directors' term. There were no awards granted under the ECPlan in 2009, 2008, or 2007 and we are not expecting to grant any new awards under this plan. Molson Coors Brewing Company Incentive Compensation Plan During 2009, 2008, and 2007, we issued the following awards related to ClassB common shares to certain directors, officers, and other eligible employees, pursuant to the Molson Coors Brewing Company Incentive Compensation Plan ("MCBC ICPlan"): restricted stock units ("RSU"), deferred stock units ("DSU"), performance units ("PU"), performance share units ("PSU"), stock options, and stock-only stock appreciation rights ("SOSAR"). RSU awards are issued at the market value equal to the price of our stock at the date of the grant and vest over the period of three years. In 2009, 2008 and 2007, we granted 0.2million, 0.6million and 0.3million RSUs with a weighted-average market value of $42.07, $56.43 and $46.24 each, respectively. DSU awards, under the Directors' Stock Plan pursuant to the MCBC IC Plan, are elected by the non-employee directors of MCBC by enabling them to receive all or one-half of their annual cash retainer payments in our stock. The deferred stock unit awards are issued at the market value equal to the average day's price on the date of the grant and generally vest over the annual service period. In 2009, 2008 and 2007, we granted a small number of DSUs with a weighted-average market value of $42.82, $50.38 and $48.66 per share, respectively. PUs are granted based on a target value established at the date of grant and vest upon completion of a service requirement. The payout value can range from zero to two times the target value based on achievement of specified adjusted earnings per share targets. Adjusted earnings per share is an internal measure calculated from our actual diluted earnings per share adjusted for special items and other significant benefits or charges as approved by the Company's compensation committee. The PU award value is calculated by multiplying the number of PUs granted by actual cumulative adjusted earnings per share over the specific performance period. The PU award value can be settled in cash or shares, or partly in cash and partly in shares, at the discretion of the Company. If

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)
	12 Months Ended Dec. 26, 2009 USD / shares
Notes to Consolidated Financial Statements
Accumulated Other Comprehensive Income (Loss)	16. Accumulated Other Comprehensive Income (Loss) MCBC shareholders Foreign currency translation adjustments Gain(loss)on derivative instruments Pensionand Postretirement Benefits adjustments Equity Method Investments Accumulated other comprehensive income(loss) Noncontrolling interest (Inmillions) As of December31, 2006 $ 621.5 $ 2.3 $ (289.9 ) $ $ 333.9 $ (16.9 ) Foreign currency translation adjustments 685.5 685.5 Unrealized gain on derivative instruments 4.5 4.5 Reclassification adjustment on derivative instruments (5.1 ) (5.1 ) Pension and other postretirement benefit adjustments 15.2 15.2 (1.7 ) Tax benefit (expense) 97.8 (8.9 ) 88.9 0.6 As of December30, 2007 1,404.8 1.7 (283.6 ) 1,122.9 (18.0 ) Foreign currency translation adjustments (1,265.0 ) (1,265.0 ) Unrealized gain on derivative instruments 70.4 70.4 Reclassification adjustment on derivative instruments 4.9 4.9 Pension and other postretirement benefit adjustments (339.1 ) (339.1 ) (10.4 ) Contribution to MillerCoors (31.3 ) 243.2 211.9 Ownership share of MillerCoors, other comprehensive loss (338.9 ) (338.9 ) Tax benefit (expense) 30.3 (10.4 ) 13.9 127.7 161.5 3.0 As of December28, 2008 170.1 35.3 (365.6 ) (211.2 ) (371.4 ) (25.4 ) Foreign currency translation adjustments 468.3 468.3 Unrealized loss on derivative instruments (42.3 ) (42.3 ) Reclassification adjustment on derivative instruments (15.7 ) (15.7 ) Pension and other postretirement benefit adjustments (360.3 ) (360.3 ) Contribution to MillerCoors Ownership share of MillerCoors, other comprehensive loss 143.8 143.8 Ownership share of other unconsolidated subsidiaries' other comprehensive loss (32.2 ) (32.2 ) Pension and other postretirement benefit adjustments related to BRI deconsolidation 33.3 33.3 36.5 Tax benefit (expense) 146.4 18.7 87.0 (54.9 ) 197.2 (11.1 ) As of December26, 2009 $ 784.8 $ (4.0 ) $ (605.6 ) $ (154.5 ) $ 20.7 $ The significant fluctuations to other comprehensive income due to foreign currency translation adjustments result from the strengthening of the CAD and GBP versus the USD in 2007 and 2009, and the reversal of those trends in 2008. We have significant levels of net assets denominated in these currencies due to our operations in those countries, and therefore other comprehensive income increases and/or decreases when those items are translated to our reportin

Employee Retirement Plans

Employee Retirement Plans
	12 Months Ended Dec. 26, 2009 USD / shares
Notes to Consolidated Financial Statements
Employee Retirement Plans	17. Employee Retirement Plans The Company maintains retirement plans in Canada, the UK and the United States. Depending on the benefit program, we provide either defined benefit or defined contribution plans to our employees in Canada and the UK. Each plan is managed locally and in accordance with respective local laws and regulations. All retirement plans for MCBC employees, excluding MillerCoors, in the United States are defined contribution pension plans. MillerCoors maintains defined benefit pension plans as well; however, those plans are excluded from this disclosure because MillerCoors is not consolidated. Defined Benefit Plans Investment Strategy The obligations of our defined benefit plans are supported by assets held in trust for the payment of future benefits. The Company is obligated to adequately fund these asset trusts. The underlying investments within MCBC's global defined benefit plans include: cash and short term instruments, debt securities, equity securities, investment funds, real estate and other investments including hedge fund of funds. Relative allocations reflect the demographics of the respective plans. We use a liability driven investment strategy in managing all of our defined benefits. For all of our defined benefit plan assets we have the following primary investment objectives: (1) optimize the long-term return on plan assets at an acceptable level of risk; (2) maintain a broad diversification across asset classes and among investment managers; (3) manage the risk level within each asset class and in relation to the plans' liabilities Each plan's respective allocation targets promote optimal expected return and volatility characteristics given a focus on a long-term time horizon for fulfilling the plans' obligations. All assets are managed by external investment managers with a mandate to either match or outperform their benchmark. We primarily use different asset managers in the UK and Canada. Our investment strategies for our defined benefit plans also consider the funding status for each plan. For defined benefit plans that are highly funded, assets are invested completely in fixed income holdings that have a similar duration to the associated liabilities. For plans with lower funding levels, the fixed income component is managed in a similar manner to the highly funded plans. In addition to this liability-matching fixed income allocation, these plans also contain exposure to return generating assets including: equities, real estate, debt, and other investments held with the goal of producing higher returns, which may also have a higher risk profile. These investments are diversified by investing globally with limitations placed on issuer concentration. For both our UK and Canadian plans, we hedge a portion of our foreign exchange exposure from plan assets which are not denominated in the local plan currency back to the local currency given our Canadian pension liabilities will be paid in Canadian dollars and our UK pension liabilities will be paid in British Pounds. Target Allocations The following compares target asset allocation percentages with actual asset allocati

Postretirement Benefits

Postretirement Benefits
	12 Months Ended Dec. 26, 2009 USD / shares
Notes to Consolidated Financial Statements
Postretirement Benefits	18. Postretirement Benefits Canadian and U.S. employees in the Corporate center have postretirement plans that provide medical benefits and life insurance for retirees and eligible dependents. The plans are not funded. The obligations under these plans were determined by the application of the terms of medical and life insurance plans, together with relevant actuarial assumptions and health care cost trend rates detailed in the table below. For the years ended December26, 2009 December28, 2008 Molson Canada plans U.S. plan Molson Canada plans BRI Canada plans U.S. plan Key assumptions: Settlement discount rate 2.75%-5.9% 5.90% 6.50% 4.5%-6.5% 6.30% Health care cost trend rate Ranging ratably from 9% in 2010 to 5.00% in2018 Ranging ratably from 8.5% in 2010 to 5.00% in2017 Ranging ratably from 9% in 2009 to 5.00% in2017 Ranging ratably from 8.50% in 2009 to 5.00% in2016 Ranging ratably from 8.30% in 2009 to 5.00% in2022 Our net periodic postretirement benefit cost and changes in the projected benefit obligation of the postretirement benefit plans are as follows: For the year ended December26, 2009 Canada plans U.S. plan Consolidated (Inmillions) Components of net periodic postretirement benefit cost: Service costbenefits earned during the period $ 2.9 $ 0.1 $ 3.0 Interest cost on projected benefit obligation 9.3 0.1 9.4 Amortization of prior service gain (2.5 ) (2.5 ) Amortization of net actuarial gain (0.9 ) (0.9 ) Net periodic postretirement benefit cost $ 8.8 $ 0.2 $ 9.0 For the year ended December28, 2008 Canada plans U.S. plan Consolidated (Inmillions) Components of net periodic postretirement benefit cost: Service costbenefits earned during the period $ 7.3 $ 1.3 $ 8.6 Interest cost on projected benefit obligation 15.4 4.8 20.2 Amortization of prior service cost 0.1 0.1 0.2 Amortization of net actuarial loss 0.1 2.1 2.2 Net periodic postretirement benefit cost $ 22.9 $ 8.3 $ 31.2 For the year ended December30, 2007 Canada plans U.S. plan Consolidated (Inmillions) Components of net periodic postretirement benefit cost: Service costbenefits earned during the period $ 9.4 $ 2.6 $ 12.0 Interest cost on projected benefit obligation 14.4 7.9 22.3 Amortization of prior service cost 0.1 0.3 0.4 Amortization of net actuarial loss 1.2 3.4 4.6 Net periodic postretirement benefit cost $ 25.1 $ 14.2 $ 39.3 As of December26, 2009 Canada Plans U.S. Plan Consolidated (Inmillions) Change in projected postretirement benefit obligation: Projected postretirement benefit obligation at beginning of year $ 208.5 $ 1.7 $ 210.2

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities
	12 Months Ended Dec. 26, 2009 USD / shares
Notes to Consolidated Financial Statements
Derivative Instruments and Hedging Activities	19. Derivative Instruments and Hedging Activities Overview and Risk Management Policies We use derivatives as a part of our normal business operations to manage our exposure to fluctuations in interest, foreign currency exchange, commodity, and production materials costs. We have established policies and procedures that govern the risk management of these exposures. We also occasionally transact derivatives for other strategic purposes, which includes our total return swaps. Our primary objective in managing these exposures is to decrease the volatility of our earnings and cash flows affected by changes in the underlying rates and prices. To achieve this objective, we enter into a variety of financial derivatives, including foreign currency exchange, commodity, forward starting interest rate, and cross currency swaps, the values of which change in the opposite direction of the anticipated future cash flows. We also enter into physical hedging agreements directly with our suppliers as an added instrument to manage our exposure to certain commodities. Counterparty Risk While, by policy, the counterparties to any of the financial derivatives we enter into are major institutions with investment grade credit ratings of at least A- (Standard Poor's), A3 (Moody's) or better, we are exposed to credit related losses in the event of non-performance by counterparties. This credit risk is generally limited to the unrealized gains in such contracts, should any of these counterparties fail to perform as contracted. We have established counterparty credit policy and guidelines that are monitored and reported to management according to prescribed guidelines to assist in managing this risk. As an additional measure, we utilize a portfolio of institutions either headquartered or operating in the same countries that we conduct our business. In calculating the fair value of our derivative balances, we also record an adjustment to recognize the risk of counterparty credit and MCBC non-performance risk. 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. We may be forced to cash settle all or a portion of our derivative contracts before the expected settlement date upon the occurrence of certain contractual triggers including a change of control termination event or other breach of agreement. This could have a negative impact on our cash position. For derivative contracts that we have designated as hedging instruments, early cash settlement would result in the timing of our hedge settlement not being matched to the cash settlement of the forecasted transaction or firm commitment. We may also decide to cash settle all or a portion of our derivative contracts before the expected settlement date through negotiations with our counterparti

Accrued expenses and other liab

Accrued expenses and other liabilities
	12 Months Ended Dec. 26, 2009 USD / shares
Notes to Consolidated Financial Statements
Accrued expenses and other liabilities	20. Accrued expenses and other liabilities As of December26, 2009 December28, 2008 (Inmillions) Accrued compensation $ 85.6 $ 44.8 Accrued excise taxes 223.8 197.2 Accrued selling and marketing costs 93.7 73.2 Accrued brewing operations costs 173.4 275.0 Other 168.5 100.6 Accrued expenses and other liabilities $ 745.0 $ 690.8 Accrued brewing operations costs consist of amounts owed for beer raw materials, packaging materials, freight charges, utilities, and other manufacturing and distribution costs. The increases in values from 2008 to 2009 are primarily attributable to increases in accrued derivative expenses within Other related to strengthening of the CAD and GBP against the USD and increases in accrued compensation, offset by decreases in accrued brewing operations costs related to the deconsolidation of BRI in the first quarter of 2009.

Commitments and Contingencies

Commitments and Contingencies
	12 Months Ended Dec. 26, 2009 USD / shares
Notes to Consolidated Financial Statements
Commitments and Contingencies	21. Commitments and Contingencies Letters of Credit As of December26, 2009, we had approximately $17.4million outstanding in letters of credit with financial institutions. These letters expire at different points in 2010. Approximately $6.7million of the letters contain a feature that automatically renews the letter for an additional year if no cancellation notice is submitted. These letters of credit are being maintained as security for deferred compensation payments, reimbursements to insurance companies, reimbursements to the trustee for pension payments, deductibles or retention payments made on our behalf, various payments due to governmental agencies, and for operations of underground storage tanks. 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. The supply contracts provide that we purchase certain minimum levels of materials throughout the terms of the contracts. The future aggregate minimum required purchase commitments under these supply contracts are shown in the table below. The amounts in the table do not represent all anticipated payments under long-term contracts. Rather, they represent unconditional and legally enforceable committed expenditures: Amount (Inmillions) 2010 $ 101.0 2011 61.5 2012 23.2 2013 0.5 2014 0.3 Thereafter 0.1 Total $ 186.6 Our total purchases under these contracts in 2009, 2008 and 2007 were approximately $599.8million, $1,073.9million, and $715.9million, respectively. Graphic Packaging Corporation We had a packaging supply agreement with a subsidiary of Graphic Packaging Corporation, a related party, under which we purchased our U.S. segment paperboard requirements. This contract was held by CBC, and now is held by MillerCoors. Our payments under the packaging agreement in the first half of 2008, and the full year of 2007 totaled $42.7million and $85.7million, respectively. Advertising and Promotions We have various long-term non-cancelable commitments for advertising, sponsorships and promotions, including marketing at sports arenas, stadiums and other venues and events. From time to time, MCBC guarantees the financial performance under certain contracts on behalf of its subsidiaries. At December26, 2009, these future commitments are as follows: Amount (Inmillions) 2010 $ 68.7 2011 35.5 2012 19.2 2013 17.5 2014 17.9 Thereafter 46.3 Total $ 205.1 Total advertising expense was $349.3million, $610.0million, and $858.1million in 2009, 2008 and 2007, respectively. Leases We lease certain office facilities and operating equipment under cancelable and non-cancelable agreements accounted for as operating leases. Future minimum lease payments under operating leases that have initial or remaining non-cancelable terms in excess of one year are as follows: Amount (Inmillions) 2010 $ 27.7 2011 22.4 2012

Supplemental Guarantor Informat

Supplemental Guarantor Information
	12 Months Ended Dec. 26, 2009 USD / shares
Notes to Consolidated Financial Statements
Supplemental Guarantor Information	22. Supplemental Guarantor Information MCBC (Parent Guarantor and 2007 Issuer) issued $575.0million of 2.5% Convertible Senior Notes due July30, 2013 in a registered offering on June15, 2007 (see Note14, "Debt"). The convertible notes are guaranteed on a senior unsecured basis by CBC (2002 Issuer), Molson Coors International,LP and Molson Coors Capital FinanceULC (together the 2005 Issuers) and certain significant subsidiaries (Subsidiary Guarantors). On May7, 2002, the 2002 Issuer completed a public offering of $850.0million principal amount of 6.375% Senior notes due 2012. During the third quarter of 2007, $625.0million of the Senior notes was extinguished by the proceeds received from the 2.5% Convertible Senior Notes issued June15, 2007 and cash on hand. During the first quarter of 2008, $180.4million of the senior notes was extinguished using existing cash resources. The remaining outstanding Senior notes are guaranteed on a senior and unsecured basis by the Parent Guarantor and 2007 Issuer, 2005 Issuers and Subsidiary Guarantors. The guarantees are full and unconditional and joint and several. On September22, 2005, the 2005 Issuers completed a public offering of $1.1billion principal amount of Senior notes composed of USD$300million 4.85% notes due 2010 and CAD$900.0million 5.00% notes due 2015. The notes were issued with registration rights and are guaranteed on a senior and unsecured basis by Parent Guarantor and 2007 Issuer, 2002 Issuer and Subsidiary Guarantors. The guarantees are full and unconditional and joint and several. Under certain circumstances, contractual and legal restrictions, as well as our financial condition and operating requirements, could limit the 2005 Issuers ability to obtain cash for the purpose of meeting its debt service obligation, including the payment of principal and interest on the notes. On April10, 2007, we undertook an internal reorganization resulting in certain transfers and realignment of assets, liabilities and subsidiaries. As a result of these changes, as well as amendments to the indentures covered, the $1.1billion senior notes issued in 2005 are now also a liability of a new subsidiary, Molson Coors International,LP. The internal reorganization changed the legal structure of the guarantees, mainly affecting the presentation of the 2002 Issuer, the 2005 Issuers, Subsidiary Guarantors, and Subsidiary Non-Guarantors. While there were no significant changes with regard to the status of any entity as a guarantor or non-guarantor, the internal ownership changes resulted in our Canadian and U.K. businesses, which were formally owned by 2002 Issuer, now being majority-owned by a 2005 Issuer. Prior period amounts have not been restated to reflect the new ownership structure which did not exist in prior periods. Any changes to the status of a subsidiary as a guarantor or non-guarantor were not material. On June30, 2008, Molson Canada 2005, an indirect wholly owned subsidiary of Molson Coors, guaranteed the obligations of Molson Coors under the Credit Agreements dated as of March2, 2005. As a result of such guarantee, Molson Canada 2005 became a guarantor under the following (i)the in

Quarterly Financial Information

Quarterly Financial Information (Unaudited)
	12 Months Ended Dec. 26, 2009 USD / shares
Notes to Consolidated Financial Statements
Quarterly Financial Information (Unaudited)	23. Quarterly Financial Information (Unaudited) The following summarizes selected quarterly financial information for each of the two years ended December26, 2009 and December28, 2008. Due to a new accounting pronouncements related to convertible debt and noncontrolling interests, certain 2008 amounts have been adjusted from previously reported amounts. Refer to Note2 "New Accounting Pronouncements" under the sub-heading "Accounting for Convertible Debt Instruments That May Be Settled in Cash Upon Conversion (Including Partial Cash Settlement)" First Second Third Fourth Full Year (Inmillions, except per share data) 2009 Sales $ 824.2 $ 1,160.4 $ 1,250.3 $ 1,191.6 $ 4,426.5 Excise taxes (265.2 ) (361.5 ) (396.6 ) (370.8 ) (1,394.1 ) Net sales 559.0 798.9 853.7 820.8 3,032.4 Cost of goods sold (346.1 ) (432.6 ) (472.6 ) (475.6 ) (1,726.9 ) Gross profit $ 212.9 $ 366.3 $ 381.1 $ 345.2 $ 1,305.5 Amounts attributable to MCBC: Income from continuing operations $ 79.6 $ 187.3 $ 244.3 $ 218.2 $ 729.4 Gain (loss) from discontinued operations, net of tax (3.9 ) (9.0 ) 3.9 (9.0 ) Net income $ 75.7 $ 187.3 $ 235.3 $ 222.1 $ 720.4 Basic income (loss) per share: From continuing operations $ 0.43 $ 1.02 $ 1.32 $ 1.19 $ 3.96 From discontinued operations (0.02 ) (0.05 ) 0.02 (0.05 ) Basic net income per share $ 0.41 $ 1.02 $ 1.27 $ 1.21 $ 3.91 Diluted income (loss) per share: From continuing operations $ 0.43 $ 1.01 $ 1.31 $ 1.17 $ 3.92 From discontinued operations (0.02 ) (0.05 ) 0.02 (0.05 ) Diluted net income per share $ 0.41 $ 1.01 $ 1.26 $ 1.19 $ 3.87 First Second Third Fourth Full Year (Inmillions, except per share data) 2008 Sales $ 1,816.2 $ 2,359.4 $ 1,373.8 $ 1,102.4 $ 6,651.8 Excise taxes (459.6 ) (602.0 ) (452.7 ) (363.2 ) (1,877.5 ) Net sales 1,356.6 1,757.4 921.1 739.2 4,774.3 Cost of goods sold (835.0 ) (1,033.6 ) (524.4 ) (447.8 ) (2,840.8 ) Gross profit $ 521.6 $ 723.8 $ 396.7 $ 291.4 $ 1,933.5 Amounts attributable to MCBC: Income from continuing operations $ 43.3 $ 91.8 $ 168.1 $ 87.6 $ 390.8 Gain (loss) from discontinued operations, net of tax (9.0 ) (12.4 ) 3.2 6.1 (12.1 ) Net income $ 34.3 $ 79.4 $ 171.3 $

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts
	12 Months Ended Dec. 26, 2009 USD / shares
Schedule II Valuation and Qualifying Accounts
Schedule II - Valuation and Qualifying Accounts	SCHEDULEII MOLSON COORS BREWING COMPANY AND SUBSIDIARIES VALUATION AND QUALIFYING ACCOUNTS (INMILLIONS) Balance at beginning of year Additions charged to costs and expenses Deductions(1) Assumed by MillerCoors(2) Foreign exchange impact Balance at end of year Allowance for doubtful accountstrade accounts receivable Year ended: December26, 2009 $ 7.9 $ 5.0 $ (3.6 ) $ $ 0.8 $ 10.1 December28, 2008 $ 8.8 $ 5.1 $ (3.3 ) $ (0.1 ) $ (2.6 ) $ 7.9 December30, 2007 $ 10.4 $ 2.5 $ (4.5 ) $ $ 0.4 $ 8.8 Allowance for doubtful accountscurrent trade loans Year ended: December26, 2009 $ 3.3 $ 1.4 $ (2.1 ) $ $ 0.2 $ 2.8 December28, 2008 $ 3.2 $ 2.5 $ (1.3 ) $ $ (1.1 ) $ 3.3 December30, 2007 $ 3.4 $ 1.6 $ (1.9 ) $ $ 0.1 $ 3.2 Allowance for doubtful accountslong-term trade loans Year ended: December26, 2009 $ 8.1 $ 4.1 $ (5.6 ) $ $ 0.7 $ 7.3 December28, 2008 $ 7.9 $ 6.2 $ (3.2 ) $ $ (2.8 ) $ 8.1 December30, 2007 $ 10.3 $ 2.1 $ (4.7 ) $ $ 0.2 $ 7.9 Allowance for obsolete supplies Year ended: December26, 2009 $ 4.6 $ $ (0.9 ) $ $ 0.4 $ 4.1 December28, 2008 $ 13.1 $ 1.7 $ (1.0 ) $ (7.5 ) $ (1.7 ) $ 4.6 December30, 2007 $ 13.3 $ 1.0 $ (1.4 ) $ $ 0.2 $ 13.1 Deferred tax valuation account Year ended: December26, 2009 $ 12.9 $ 15.1 $ (10.6 ) $ $ 2.2 $ 19.6 December28, 2008 $ 21.6 $ $ (5.0 ) $ $ (3.7 ) $ 12.9 December30, 2007 $ 18.8 $ 6.1 $ (4.2 ) $ $ 0.9 $ 21.6 (1) Amounts related to write-offs of uncollectible accounts, claims or obsolete inventories and supplies. Amounts related to the deferred tax asset valuation allowance are primarily due to the deconsolidation of Brewers' Retail Inc and re-evaluations of deferred tax assets. (2) Reflects the formation of MillerCoorsLLC on July1, 2008. As a result, the allowances related to the Molson Coors Brewing Company pre-existing U.S. operations were transferred to MillerCoorsLLC.

Document and Entity Information

Document and Entity Information (USD $)
	12 Months Ended Dec. 26, 2009	Feb. 12, 2010	Jun. 26, 2009
Entity [Text Block]
Entity Registrant Name	MOLSON COORS BREWING CO
Entity Central Index Key	0000024545
Document Type	10-K
Document Period End Date	2009-12-26
Amendment Flag	false
Current Fiscal Year End Date	--12-26
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$6,268,786,086
Entity Common Stock, Shares Outstanding		0
Class A Common Stock
Entity [Text Block]
Entity Common Stock, Shares Outstanding		2,702,690
Class B Common Stock
Entity [Text Block]
Entity Common Stock, Shares Outstanding		160,363,147
Class A Exchangeable Stock
Entity [Text Block]
Entity Exchangeable, Shares Outstanding		3,056,874
Class B Exchangeable Stock
Entity [Text Block]
Entity Exchangeable, Shares Outstanding		19,366,563