Molson Coors Brewing Co. is a holding company, which engages in the provision of beer. It operates through the following segments: United States, Canada, Europe, International, and Corporate. The United States segment consists of production, marketing and sales of its brands, and other owned and licensed brands in the United States. The Canada segment includes production, marketing and sales of its brands, and other owned and licensed brands in Canada. The Europe segment comprises of production, marketing and sales of its brands as well as a number of regional brands in the United Kingdom, Republic of Ireland, and Central Europe. The International segment focuses its operations on Latin America, Europe, Asia Pacific, and Africa. The Corporate segment represents interest and certain other general and administrative costs that are not allocated to any of the operating segments. It operates under the brands Blue Moon, Coors Banquet, Coors Light, Miller Genuine Draft, Miller Lite, taropramen, Carling, Molson Canadian, Creemore Springs, Cobra, Doom Bar, Henry's Hard and Leinenkugel's. The company was founded in 1786 and is headquartered in Denver, CO.
During the third quarter of 2019, we recognized a net loss attributable to MCBC of $402.8 million, representing a decrease of $741.1 million versus the prior year. The decrease in net income attributable to MCBC was primarily driven by the impact of aggregate goodwill and intangible asset impairment losses of $691.9 million primarily related to our Canada reporting unit. The decrease was also due to lower volume, inflation, and cycling a net benefit from the amicable resolution of a vendor dispute in the prior year, partially offset by positive global pricing and mix, cost savings, lower restructuring charges, lower incentive compensation, and lower marketing spend. Net sales of approximately $2.8 billion in the third quarter of 2019 decreased 3.2% from the prior year, driven by volume declines, partially offset by net sales per hectoliter growth.