v3.22.4
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Nov. 30, 2022
Nov. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ (261.7) $ (404.6)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Unrealized net (gain) loss on securities measured at fair value 39.1 1,534.8
Deferred tax provision (benefit) 218.4 58.5
Depreciation 278.4 248.6
Stock-based compensation 56.1 33.8
Equity in (earnings) losses of equity method investees and related activities, net of distributed earnings 845.4 6.0
Noncash lease expense 66.7 60.9
Amortization of debt issuance costs and loss on extinguishment of debt 31.1 37.5
Impairment of Canopy Equity Method Investment 1,060.3 0.0
Impairment of brewery construction in progress 0.0 665.9
Gain (loss) on settlement of Pre-issuance hedge contracts 20.7 0.0
Change in operating assets and liabilities, net of effects from purchase and sale of business:    
Accounts receivable (25.3) (134.8)
Inventories (259.3) (218.4)
Prepaid expenses and other current assets 204.7 (114.7)
Accounts payable 187.4 340.5
Deferred revenue (5.1) 124.3
Other accrued expenses and liabilities (247.0) 200.9
Other 70.7 4.9
Total adjustments 2,542.3 2,848.7
Net cash provided by (used in) operating activities 2,280.6 2,444.1
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of property, plant, and equipment (683.8) (598.7)
Purchase of business, net of cash acquired (37.1) (53.5)
Investments in equity method investees and securities (29.5) (28.6)
Proceeds from sale of assets 6.6 4.0
Cash received from buyer 96.7 4.6
Other investing activities 0.5 (2.0)
Net cash provided by (used in) investing activities (646.6) (674.2)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of long-term debt 2,845.8 995.6
Principal payments of long-term debt (1,657.3) (1,363.5)
Net proceeds from (repayments of) short-term borrowings 552.6 243.0
Dividends paid (441.1) (430.5)
Purchases of treasury stock (1,400.5) (1,390.5)
Proceeds from shares issued under equity compensation plans 36.7 159.7
Payments of minimum tax withholdings on stock-based payment awards (10.5) (9.8)
Payments of debt issuance, debt extinguishment, and other financing costs (34.1) (35.0)
Distributions to noncontrolling interests (37.5) (36.9)
Payment to holders of Class B Stock in connection with the Reclassification (1,500.0) 0.0
Net cash provided by (used in) financing activities (1,645.9) (1,867.9)
Effect of exchange rate changes on cash and cash equivalents (2.5) (1.3)
Net increase (decrease) in cash and cash equivalents (14.4) (99.3)
Cash and cash equivalents, beginning of period 199.4 460.6
Cash and cash equivalents, end of period 185.0 361.3
Supplemental disclosures of noncash investing and financing activities    
Additions to property, plant, and equipment $ 174.6 $ 223.1

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