Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.6.0.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
 9 Months Ended
Nov. 30, 2016
Nov. 30, 2015
Cash flows from operating activities:    
Net income $ 1,077.3 $ 815.3
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 175.3 130.5
Deferred tax provision 114.7 192.5
Stock-based compensation 44.4 40.5
Amortization of debt issuance costs 9.6 9.0
Amortization of intangible assets 8.4 32.2
Equity in earnings of equity method investees, net of distributed earnings (16.2) (18.7)
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 (121.5) (121.5)
Inventories (193.9) (25.0)
Prepaid expenses and other current assets (30.4) 46.8
Accounts payable 290.0 136.8
Accrued excise taxes (0.6) 4.3
Other accrued expenses and liabilities 77.5 (128.1)
Other (18.9) (24.1)
Total adjustments 338.4 276.3
Net cash provided by operating activities 1,415.7 1,091.6
Cash flows from investing activities:    
Purchases of property, plant and equipment (591.6) (513.8)
Purchases of businesses, net of cash acquired (542.2) (317.9)
Other investing activities (15.3) 4.0
Net cash used in investing activities (1,149.1) (827.7)
Cash flows from financing activities:    
Principal payments of long-term debt (907.7) (148.3)
Purchases of treasury stock (372.6) 0.0
Dividends paid (238.3) (180.4)
Payments of minimum tax withholdings on stock-based payment awards (66.9) (38.4)
Net repayments of notes payable (55.9) (15.9)
Payments of debt issuance costs (6.6) (7.9)
Proceeds from issuance of long-term debt 1,350.1 210.0
Excess tax benefits from stock-based payment awards 112.2 204.2
Proceeds from shares issued under equity compensation plans 39.3 98.9
Net cash provided by (used in) financing activities (146.4) 122.2
Effect of exchange rate changes on cash and cash equivalents (6.0) (4.9)
Net increase in cash and cash equivalents 114.2 381.2
Cash and cash equivalents, beginning of period 83.1 110.1
Cash and cash equivalents, end of period 197.3 491.3
Supplemental disclosures of noncash investing and financing activities:    
Additions to property, plant and equipment 218.0 53.1
Conversion of noncontrolling equity interest to long-term debt $ 132.0 $ 0.0