Annual report pursuant to Section 13 and 15(d)

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

v2.4.0.8
Description of Business, Basis of Presentation and Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Feb. 28, 2014
Accounting Policies [Abstract]  
Inventories
Inventories are stated at the lower of cost (computed in accordance with the first-in, first-out method) or market. Elements of cost include materials, labor and overhead and are classified as follows:
 
February 28, 2014
 
February 28, 2013
(in millions)
 
 
 
Raw materials and supplies
$
87.8

 
$
45.5

In-process inventories
1,235.4

 
1,168.1

Finished case goods
420.6

 
267.3

 
$
1,743.8

 
$
1,480.9

Estimated useful lives for depreciation
Depreciation is computed primarily using the straight-line method over the following estimated useful lives:
 
Depreciable Life in Years
Land improvements
15 to 32
Vineyards
16 to 26
Buildings and improvements
10 to 44
Machinery and equipment
3 to 35
Motor vehicles
3 to 7