v3.23.2
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 3 Months Ended
May 31, 2023
May 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ 139.2 $ 399.3
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 71.8 22.4
Deferred tax provision (benefit) (0.3) 21.5
Depreciation 105.3 92.7
Stock-based compensation 14.5 16.8
Equity in (earnings) losses of equity method investees and related activities, net of distributed earnings 220.6 165.5
Noncash lease expense 22.0 21.6
Amortization of debt issuance costs and loss on extinguishment of debt 3.4 17.7
Impairment of Canopy Equity Method Investment 123.5 0.0
Gain (loss) on settlement of Pre-issuance hedge contracts 1.0 20.7
Change in operating assets and liabilities, net of effects from purchase and sale of business:    
Accounts receivable (31.5) 17.2
Inventories (57.6) (83.0)
Prepaid expenses and other current assets (17.9) 93.7
Accounts payable 34.2 94.5
Deferred revenue 24.3 26.2
Other accrued expenses and liabilities (73.2) (166.2)
Other 86.1 (2.4)
Total adjustments 526.2 358.9
Net cash provided by (used in) operating activities 665.4 758.2
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of property, plant, and equipment (277.0) (196.6)
Purchase of business, net of cash acquired 0.0 (37.2)
Investments in equity method investees and securities (21.6) 0.0
Proceeds from sale of assets 0.0 6.5
Proceeds from sale of business 6.7 0.0
Other investing activities 0.0 0.5
Net cash provided by (used in) investing activities (291.9) (226.8)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of long-term debt 744.8 1,846.8
Principal payments of long-term debt (502.5) (1,084.7)
Net proceeds from (repayments of) short-term borrowings (346.3) (199.0)
Dividends paid (164.1) (149.3)
Purchases of treasury stock (35.0) (1,007.6)
Proceeds from shares issued under equity compensation plans 15.9 14.0
Payments of minimum tax withholdings on stock-based payment awards (11.2) (10.4)
Payments of debt issuance, debt extinguishment, and other financing costs (5.0) (25.8)
Distributions to noncontrolling interests (11.3) (11.2)
Net cash provided by (used in) financing activities (314.7) (627.2)
Effect of exchange rate changes on cash and cash equivalents 0.2 (1.8)
Net increase (decrease) in cash and cash equivalents 59.0 (97.6)
Cash and cash equivalents, beginning of period 133.5 199.4
Cash and cash equivalents, end of period 192.5 101.8
Supplemental disclosures of noncash investing and financing activities    
Additions to property, plant, and equipment $ 142.2 $ 83.1

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