Annual report pursuant to Section 13 and 15(d)

Commitments and Contingencies (Tables)

v3.20.1
Commitments and Contingencies (Tables)
 12 Months Ended
Feb. 29, 2020
Commitments and Contingencies Disclosure [Abstract]  
Future minimum purchase commitments and obligations As of February 29, 2020, the estimated aggregate minimum purchase commitments under these contracts are as follows:
 
Type
 
Length of Commitment
 
Amount
(in millions)
 
 
 
 
 
Raw materials and supplies (1)
Packaging, grapes, hops, malts, and other raw materials
 
through December 2037
 
$
4,789.5

In-process inventories
Bulk wine and spirits
 
through April 2025
 
85.8

Contract services
Processing and warehousing services, transportation services, and energy contracts
 
through December 2030
 
657.2

Capital expenditures (2)
Property, plant, and equipment and contractor and manufacturing services
 
through April 2022
 
459.6

Other
Finished wine case goods
 
through May 2029
 
32.6

 
 
 
 
 
$
6,024.7

(1) 
Certain grape purchasing arrangements include the purchase of grape production yielded from specified blocks of a vineyard. The actual tonnage and price of grapes that we 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 vineyard. Amounts included herein for the estimated aggregate minimum grape purchase commitments consist of estimates for the purchase of the grapes and the implicit leases of the land. Upon adoption of the new lease guidance on March 1, 2019, certain grape purchasing arrangements classified as leases have not resulted in the recognition of right-of-use assets and lease liabilities on our balance sheet due to their variable nature.
(2) 
Consists of purchase commitments entered into primarily in connection with the construction of the Mexicali Brewery, and the expansion project for the brewery located in Obregon, Sonora, Mexico (the “Obregon Brewery”).