v3.22.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Feb. 28, 2022
Feb. 28, 2021
Feb. 29, 2020
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income (loss) $ 1.0 $ 2,031.8 $ 21.4
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Unrealized net (gain) loss on securities measured at fair value 1,644.7 (802.0) 2,126.4
Deferred tax provision (benefit) 84.8 336.4 (1,153.7)
Depreciation 337.3 293.8 326.5
Stock-based compensation 44.9 63.0 60.4
Equity in (earnings) losses of equity method investees and related activities, net of distributed earnings 61.6 673.4 560.8
Noncash lease expense 81.9 83.3 88.3
Impairment and amortization of intangible assets 5.1 11.3 16.7
Amortization of debt issuance costs and loss on extinguishment of debt 39.9 24.3 16.1
Net (gain) loss on sale of unconsolidated investment (51.0) 0.0 (0.4)
Impairment of brewery construction in progress 665.9 0.0 0.0
Impairment of assets held for sale 0.0 24.0 449.7
(Gain) loss on sale of business (1.7) (14.2) (74.1)
Loss on inventory and related contracts associated with business optimization 0.0 25.8 123.0
Loss on settlement of treasury lock contracts 0.0 (29.3) 0.0
Change in operating assets and liabilities, net of effects from purchase and sale of business:      
Accounts receivable (114.0) 59.6 (22.0)
Inventories (261.3) 193.7 (29.5)
Prepaid expenses and other current assets (113.2) 65.7 8.1
Accounts payable 213.7 (95.7) 16.8
Deferred revenue 118.0 0.0 1.4
Other accrued expenses and liabilities (28.8) (75.0) (58.5)
Other (23.4) (63.4) 73.7
Total adjustments 2,704.4 774.7 2,529.7
Net cash provided by (used in) operating activities 2,705.4 2,806.5 2,551.1
CASH FLOWS FROM INVESTING ACTIVITIES      
Purchase of property, plant, and equipment (1,026.8) (864.6) (726.5)
Purchase of business, net of cash acquired (53.5) (19.9) (36.2)
Investments in equity method investees and securities (36.6) (222.4) (48.2)
Proceeds from sale of assets 4.1 18.9 8.3
Proceeds from sale of unconsolidated investment 74.4 0.0 1.5
Proceeds from sale of business 4.6 999.5 269.7
Other investing activities (2.0) 0.6 0.4
Net cash provided by (used in) investing activities (1,035.8) (87.9) (531.0)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from issuance of long-term debt 995.6 1,194.7 1,291.3
Principal payments of long-term debt (1,365.3) (2,721.3) (2,195.3)
Net proceeds from (repayments of) short-term borrowings 323.0 (238.9) (552.6)
Dividends paid (573.0) (575.0) (569.2)
Purchase of treasury stock (1,390.5) 0.0 (50.0)
Proceeds from shares issued under equity compensation plans 177.6 58.9 78.2
Payments of minimum tax withholdings on stock-based payment awards (9.8) (7.7) (14.3)
Payments of debt issuance, debt extinguishment, and other financing costs (34.6) (22.3) (8.2)
Distributions to noncontrolling interests (52.5) (35.0) 0.0
Payment of contingent consideration 0.0 0.0 (11.3)
Net cash provided by (used in) financing activities (1,929.5) (2,346.6) (2,031.4)
Effect of exchange rate changes on cash and cash equivalents (1.3) 7.2 (0.9)
Net increase (decrease) in cash and cash equivalents (261.2) 379.2 (12.2)
Cash and cash equivalents, beginning of year 460.6 81.4 93.6
Cash and cash equivalents, end of year 199.4 460.6 81.4
Cash paid during the year      
Interest, net of interest capitalized 368.5 418.5 448.9
Income taxes, net of refunds received 324.7 189.7 85.3
Noncash investing and financing activities      
Additions to property, plant, and equipment $ 304.0 $ 101.1 $ 70.4

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