Annual report pursuant to Section 13 and 15(d)

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

v3.22.1
Description of Business, Basis of Presentation, and Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Feb. 28, 2022
Accounting Policies [Abstract]  
Estimated useful lives for depreciation
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,
2022		 February 28,
2021
(in millions)
Land and land improvements $ 456.2  $ 434.0 
Vineyards 255.3  226.0 
Buildings and improvements 1,109.4  983.4 
Machinery and equipment 4,827.8  3,696.9 
Motor vehicles 140.0  131.3 
Construction in progress (1) (2)
1,223.2  2,084.2 
8,011.9  7,555.8 
Less – Accumulated depreciation (1,952.3) (1,734.2)
$ 6,059.6  $ 5,821.6 
(1)The balance at February 28, 2022, is net of an impairment of brewery construction in progress of $665.9 million. See Note 7 for further discussion.
(2)Interest costs incurred during the expansion, optimization, and construction of facilities are capitalized to construction in progress. We capitalized interest costs of $25.3 million, $31.5 million, and $37.2 million for the years ended February 28, 2022, February 28, 2021, and February 29, 2020, respectively, primarily due to the Mexico Beer Projects.