Constellation Brands, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Inventories

Inventories

12 Months Ended

Feb. 28, 2023

The components of inventories are as follows:


	February 28, 2023		February 28, 2022
(in millions)
Raw materials and supplies	$	245.5	$	185.3
In-process inventories	967.8		804.8
Finished case goods	685.4		583.1
	$	1,898.7	$	1,573.2

We evaluated the carrying value of certain inventories and recognized the following in cost of product sold within our consolidated results of operations:


	For the Years Ended
	February 28, 2023		February 28, 2022 (1)		February 28, 2021 (2)
(in millions)
Loss on inventory write-down	$	23.1	$	87.7	$	100.7

(1)We recognized a loss predominantly from excess inventory of hard seltzers, within the Beer segment, largely resulting from a slowdown in the overall category which occurred in early Fiscal 2022.

(2)We recognized a loss primarily in connection with the write-down of certain grapes, within the Wine and Spirits segment, as a result of smoke damage sustained during the 2020 U.S. wildfires.