Annual report pursuant to Section 13 and 15(d)

Commitments and Contingencies (Tables)

v3.23.1
Commitments and Contingencies (Tables)
 12 Months Ended
Feb. 28, 2023
Commitments and Contingencies Disclosure [Abstract]  
Future minimum purchase commitments and obligations As of February 28, 2023, the estimated aggregate minimum purchase commitments under these contracts are as follows:
Type Length of Commitment Amount
(in millions)
Raw materials and supplies (1)
Packaging, grapes, and hops through December 2037 $ 2,230.6 
Capital expenditures (2)
Property, plant, and equipment and contractor and manufacturing services through November 2026 651.0 
Contract services Transportation, marketing, IT, warehousing and bottling, and energy contract services through December 2030 571.5 
In-process and finished goods inventories Bulk wine and spirits, finished wine case goods, and related contracts
through June 2028
 87.0 
$ 3,540.1 
(1)Certain grape purchasing arrangements include the purchase of grape production yielded from specified blocks of a vineyard. The actual tonnage and price of grapes that we purchase will vary each year depending on certain factors, including weather, time of harvest, overall market conditions, and the agricultural practices and location of the vineyard. Amounts included herein for the estimated aggregate minimum grape purchase commitments consist of estimates for the purchase of the grapes and the implicit leases of the land. Certain grape purchasing arrangements classified as leases have not resulted in the recognition of right-of-use assets and lease liabilities on our balance sheet due to their variable nature.
(2)Consists of purchase commitments entered into primarily in connection with the Mexico Beer Projects.
Supplier finance program
The changes in outstanding obligations under our supply chain finance program are as follows:
(in millions)
Balance, February 28, 2022
 $ — 
Additions 12.6 
Settlements (1)
(8.7)
Balance, February 28, 2023 (2)
$ 3.9 
(1)Reflects amounts settled through the supply chain finance program and paid to the financial institution.
(2)Reflects amount payable to the participating financial institution for suppliers who voluntarily participated in the supply chain finance program and was included in accounts payable within our consolidated balance sheet.