Table of Contents MOLSON COORS BEVERAGE COMPANY AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (IN MILLIONS, EXCEPT PER SHARE DATA) See notes to consolidated financial statements. For the Years Ended December 31, 2019 December 31, 2018 December 31, 2017 Sales $ 13,009.1 $ 13,338.0 $ 13,471.5 Excise taxes (2,429.7) (2,568.4) (2,468.7) Net sales 10,579.4 10,769.6 11,002.8 Cost of goods sold (6,378.2) (6,584.8) (6,236.7) Gross profit 4,201.2 4,184.8 4,766.1 Marketing, general and administrative expenses (2,728.0) (2,802.7) (3,052.0) Special items, net (708.8 ) 249.7 (36.4 ) Operating income (loss) 764.4 1,631.8 1,677.7 Other income (expense), net Interest expense (280.9) (306.2) (349.3) Interest income 8.2 8.0 6.0 Other pension and postretirement benefits (costs), net 2.9 38.2 47.4 Other income (expense), net (14.7 ) (12.0 ) 1.4 Total other income (expense), net (284.5) (272.0) (294.5) Income (loss) before income taxes 479.9 1,359.8 1,383.2 Income tax benefit (expense) (233.7) (225.2) 204.6 Net income (loss) 246.2 1,134.6 1,587.8 Net (income) loss attributable to noncontrolling interests (4.5) (18.1) (22.2) Net income (loss) attributable to Molson Coors Beverage Company $ 241.7 $ 1,116.5 $ 1,565.6 Net income (loss) attributable to Molson Coors Beverage Company per share: Basic $ 1.12 $ 5.17 $ 7.27 Diluted $ 1.11 $ 5.15 $ 7.23 Weighted-average shares outstanding: Basic 216.6 216.0 215.4 Dilutive effect of share-based awards 0.3 0.6 1.1 Diluted 216.9 216.6 216.5 Anti-dilutive securities excluded from computation of diluted EPS 1.3 0.8 0.3 74