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, 2022

The components of inventories are as follows:


	February 28, 2022		February 28, 2021
(in millions)
Raw materials and supplies	$	185.3	$	151.1
In-process inventories	804.8		735.9
Finished case goods	583.1		404.1
	$	1,573.2	$	1,291.1

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, 2022 (1)		February 28, 2021 (2)		February 29, 2020 (3)
(in millions)
Loss on inventory write-down	$	87.7	$	100.7	$	124.4

(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.

(3)We recognized a loss primarily in connection with restructuring and business development costs resulting from our business transformation strategy which aligned our portfolio with consumer-led premiumization trends within the Wine and Spirits segment.