Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.5.0.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
 6 Months Ended
Aug. 31, 2016
Aug. 31, 2015
Cash flows from operating activities:    
Net income $ 672.3 $ 544.3
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred tax provision 139.9 94.0
Depreciation 113.9 88.7
Stock-based compensation 31.4 26.0
Amortization of debt issuance costs 6.4 6.2
Amortization of intangible assets 6.3 22.7
Noncash portion of loss on write-off of debt issuance costs 0.0 1.1
Change in operating assets and liabilities, net of effects from purchases of businesses:    
Accounts receivable (94.9) (128.9)
Inventories 48.9 63.6
Prepaid expenses and other current assets (28.6) 44.7
Accounts payable 144.3 94.1
Accrued excise taxes 2.1 (1.4)
Other accrued expenses and liabilities 28.5 (22.5)
Other (25.6) (29.5)
Total adjustments 372.6 258.8
Net cash provided by operating activities 1,044.9 803.1
Cash flows from investing activities:    
Purchases of property, plant and equipment (368.6) (294.8)
Purchases of businesses (284.9) (317.9)
Other investing activities (0.1) 3.7
Net cash used in investing activities (653.6) (609.0)
Cash flows from financing activities:    
Principal payments of long-term debt (842.4) (109.3)
Net repayments of notes payable (295.8) (18.5)
Dividends paid (158.8) (119.8)
Payments of minimum tax withholdings on stock-based payment awards (64.7) (38.4)
Purchases of treasury stock (5.5) 0.0
Payments of debt issuance costs (4.6) (7.6)
Proceeds from issuance of long-term debt 940.6 200.0
Excess tax benefits from stock-based payment awards 100.9 89.7
Proceeds from shares issued under equity compensation plans 33.3 33.2
Net cash provided by (used in) financing activities (297.0) 29.3
Effect of exchange rate changes on cash and cash equivalents (0.1) (3.8)
Net increase in cash and cash equivalents 94.2 219.6
Cash and cash equivalents, beginning of period 83.1 110.1
Cash and cash equivalents, end of period 177.3 329.7
Supplemental disclosures of noncash investing and financing activities:    
Additions to property, plant and equipment 209.4 63.1
Conversion of noncontrolling equity interest to long-term debt $ 132.0 $ 0.0