Equity Method Investments (Tables)
|3 Months Ended|
May 31, 2020
|Equity Method Investments and Joint Ventures [Abstract]|
|Equity method investments||
Our equity method investments are as follows:
(1)Reflects our ownership interest in Canopy on a two-month lag and therefore, does not include the May 2020 Canopy Investment, see defined term below.
(2)The other equity method investments balance at May 31, 2020, and February 29, 2020, excludes investments reclassified to assets held for sale.
The following table presents summarized financial information for Canopy presented in accordance with U.S. GAAP. We recognize our equity in earnings (losses) for Canopy on a two-month lag. Accordingly, we recognized our share of Canopy’s earnings (losses) for the periods January through March 2020 and January through March 2019 in our three months ended May 31, 2020, and May 31, 2019, results, respectively. The amounts shown represent 100% of Canopy’s results of operations for the respective periods. The three months ended May 31, 2020, includes costs designed to improve Canopy’s organizational focus, streamline operations, and align production capability with projected demand.
Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef