Current report filing

Commitments and Contingencies (Tables)

v3.8.0.1
Commitments and Contingencies (Tables)
12 Months Ended
Feb. 28, 2017
Commitments and Contingencies Disclosure [Abstract]  
Future payments under noncancelable operating leases
Future payments under noncancelable operating leases having initial or remaining terms of one year or more are as follows for each of the five succeeding fiscal years and thereafter:
(in millions)
 
2018
$
41.6

2019
46.8

2020
45.2

2021
43.2

2022
35.4

Thereafter
285.5

 
$
497.7

Future minimum purchase commitments and obligations
As of February 28, 2017, the estimated aggregate minimum purchase obligations under these contracts are as follows:
 
Type
 
Length of Commitment
 
Amount
(in millions)
 
 
 
 
 
Raw materials and supplies (1)
Packaging, grapes and other raw materials
 
through December 2029
 
$
5,508.1

In-process inventories
Bulk wine
 
through February 2022
 
57.6

Capital expenditures (2)
Property, plant and equipment, and contractor and manufacturing services
 
through February 2020
 
610.1

Other
Processing and warehousing services, energy contracts
 
through May 2029
 
267.6

 
 
 
 
 
$
6,443.4

(1) 
Grape purchase contracts require the purchase of grape production yielded from a specified number of acres. The actual tonnage and price of grapes that we must purchase will vary each year depending on certain factors, including weather, time of harvest, overall market conditions and the agricultural practices and location of the growers and suppliers under contract.
(2) 
Consists of purchase commitments entered into primarily in connection with the construction of a brewery located in Mexicali, Baja California, Mexico, and the expansion projects for the Nava Brewery and the adjacent glass production plant.