Quarterly report pursuant to Section 13 or 15(d)

Equity Method Investments (Tables)

v3.19.2
Equity Method Investments (Tables)
 3 Months Ended
May 31, 2019
Equity Method Investments and Joint Ventures [Abstract]  
Equity method investments

Our equity method investments are as follows:
 
May 31, 2019
 
February 28, 2019
 
Carrying Value
 
Ownership Percentage
 
Carrying Value
 
Ownership Percentage
(in millions)
 
 
 
 
 
 
 
Canopy Equity Method Investment
$
3,279.3

 
35.8
%
 
$
3,332.1

 
36.0
%
Other equity method investments
151.1

 
20%-50%

 
133.5

 
20%-50%

 
$
3,430.4

 
 
 
$
3,465.6

 
 

The following table presents summarized financial information for Canopy presented in accordance with U.S. GAAP. The amounts shown represent 100% of Canopy’s results of operations from January 1, 2019, through March 31, 2019. We recognize our equity in earnings (losses) for Canopy on a two-month lag. Accordingly, we recognized our share of Canopy’s losses from January through March 2019, which was Canopy’s fourth quarter fiscal 2019 results, in our first quarter fiscal 2020 results.
 
For the Three Months Ended May 31,
 
2019
 
2018
(in millions)
 
 
 
Net sales
$
70.7

 
NA
Gross profit
$
11.3

 
NA
Net gain (loss)
$
(268.9
)
 
NA
Net gain (loss) attributable to Canopy
$
(284.1
)
 
NA
 
 
 
 
NA = Not Applicable