Quarterly report pursuant to Section 13 or 15(d)

Inventories

v3.10.0.1
Inventories
 9 Months Ended
Nov. 30, 2018
Inventory Disclosure [Abstract]  
INVENTORIES
INVENTORIES:

Inventories are stated at the lower of cost (primarily computed in accordance with the first-in, first-out method) or net realizable value. Elements of cost include materials, labor and overhead and consist of the following:
 
November 30,
2018
 
February 28,
2018
(in millions)
 
 
 
Raw materials and supplies
$
142.3

 
$
160.8

In-process inventories
1,532.5

 
1,382.8

Finished case goods
523.2

 
540.4

 
$
2,198.0

 
$
2,084.0



Related party transactions and arrangements –
We have an equally-owned glass production plant joint venture with Owens-Illinois. We have entered into various contractual arrangements with affiliates of Owens-Illinois primarily for the purchase of glass bottles used largely in our imported and craft beer portfolios. Amounts purchased under these arrangements were $172.4 million and $282.5 million for the nine months ended November 30, 2018, and November 30, 2017, respectively, and $48.7 million and $83.4 million for the three months ended November 30, 2018, and November 30, 2017, respectively.