Quarterly report pursuant to Section 13 or 15(d)

Borrowings (Tables)

v3.23.3
Borrowings (Tables)
 6 Months Ended
Aug. 31, 2023
Debt Disclosure [Abstract]  
Borrowings
Borrowings consist of the following:
August 31, 2023 February 28,
2023
Current Long-term Total Total
(in millions)
Short-term borrowings
Commercial paper $ 467.4  $ 1,165.3 
$ 467.4  $ 1,165.3 
Long-term debt
Term loan credit facilities $ —  $ —  $ —  $ 799.2 
Senior notes 549.2  10,667.2  11,216.4  10,470.6 
Other 9.1  13.6  22.7  26.2 
$ 558.3  $ 10,680.8  $ 11,239.1  $ 11,296.0 
As of August 31, 2023, information with respect to borrowings under the 2022 Credit Agreement is as follows:
Outstanding
borrowings		 Interest
rate		 SOFR
margin		 Outstanding
letters of
credit
Remaining
borrowing
capacity (1)
(in millions)
2022 Credit Agreement
Revolving credit facility (2) (3)
$ —  —  % —  % $ 11.5  $ 1,770.5 
(1)Net of outstanding revolving credit facility borrowings and outstanding letters of credit under the 2022 Credit Agreement and outstanding borrowings under our commercial paper program of $468.0 million (excluding unamortized discount) (see “Commercial paper program” below).
(2)Contractual interest rate varies based on our debt rating (as defined in the agreement) and is a function of SOFR plus a margin and a credit spread adjustment, or the base rate plus a margin, or, in certain circumstances where SOFR cannot be adequately ascertained or available, an alternative benchmark rate plus a margin.
(3)We and/or CB International are the borrower under the $2,250.0 million revolving credit facility with a maturity date of April 14, 2027. Includes a sub-facility for letters of credit of up to $200.0 million.
Schedule of maturities of long-term debt
As of August 31, 2023, the required principal repayments under long-term debt obligations (excluding unamortized debt issuance costs and unamortized discounts of $59.1 million and $24.5 million, respectively) for the remaining six months of Fiscal 2024 and for each of the five succeeding fiscal years and thereafter are as follows:
(in millions)
Fiscal 2024 $ 5.6 
Fiscal 2025 956.6 
Fiscal 2026 1,405.0 
Fiscal 2027 603.8 
Fiscal 2028 1,801.6 
Fiscal 2029 500.0 
Thereafter 6,050.1 
$ 11,322.7