Annual report pursuant to Section 13 and 15(d)

Description of Business, Basis of Presentation, and Summary of Significant Accounting Policies (Tables)

v3.21.1
Description of Business, Basis of Presentation, and Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Feb. 28, 2021
Accounting Policies [Abstract]  
Estimated useful lives for depreciation
Depreciation is computed primarily using the straight-line method over the following estimated useful lives:
Years
Land improvements
15 to 32
Vineyards
16 to 26
Buildings and improvements
10 to 50
Machinery and equipment
3 to 35
Motor vehicles
3 to 8
The major components of property, plant, and equipment are as follows:
February 28,
2021
February 29, 2020 (1)
(in millions)
Land and land improvements $ 434.0  $ 440.2 
Vineyards 226.0  215.8 
Buildings and improvements 983.4  975.1 
Machinery and equipment 3,696.9  3,627.9 
Motor vehicles 131.3  109.5 
Construction in progress (2)
2,084.2  1,422.7 
7,555.8  6,791.2 
Less – Accumulated depreciation (1,734.2) (1,458.2)
$ 5,821.6  $ 5,333.0 
(1)The property, plant, and equipment balance at February 29, 2020, excludes amounts reclassified to assets held for sale.
(2)Interest costs incurred during the expansion, construction, and optimization of facilities are capitalized to construction in progress. We capitalized interest costs of $31.5 million, $37.2 million, and $23.1 million for the years ended February 28, 2021, February 29, 2020, and February 28, 2019, respectively, primarily due to the Mexico Beer Projects.