Annual report pursuant to Section 13 and 15(d)

Property, Plant, and Equipment (Tables)

v3.23.1
Property, Plant, and Equipment (Tables)
 12 Months Ended
Feb. 28, 2023
Property, Plant and Equipment [Abstract]  
Components of property, plant, and equipment
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, 2023 (1) (2)
February 28, 2022 (3)
(in millions)
Land and land improvements $ 477.2  $ 456.2 
Vineyards 243.5  255.3 
Buildings and improvements 1,800.4  1,109.4 
Machinery and equipment 5,277.9  4,827.8 
Motor vehicles 186.1  140.0 
Construction in progress (4)
1,272.0  1,223.2 
9,257.1  8,011.9 
Less – Accumulated depreciation (2,391.9) (1,952.3)
$ 6,865.2  $ 6,059.6 
(1)The property, plant, and equipment balance excludes Mexicali Brewery amounts reclassified to assets held for sale. See “Mexicali Brewery” below for further discussion.
(2)The property, plant, and equipment balance is net of an impairment of long-lived assets, including the Daleville Facility, of $51.6 million. See “Daleville Facility” below and Note 7 for further discussion.
(3)The property, plant, and equipment balance is net of an impairment of brewery construction in progress of $665.9 million. See Note 7 for further discussion.
(4)Interest costs incurred during the expansion, optimization, and construction of facilities are capitalized to construction in progress. We capitalized interest costs of $36.5 million, $25.3 million, and $31.5 million for the years ended February 28, 2023, February 28, 2022, and February 28, 2021, respectively, primarily due to the Mexico Beer Projects.