Equity Method Investments (Tables)
|6 Months Ended|
Aug. 31, 2021
|Equity Method Investments and Joint Ventures [Abstract]|
|Equity method investments||
Our equity method investments are as follows:
(1)The fair value based on the closing price of the underlying equity security as of August 31, 2021, and February 28, 2021, was $2,448.1 million and $4,679.3 million, respectively.
(2)Includes the following:
Amounts included in our consolidated results of operations for each period are as follows:
The following table presents summarized financial information for Canopy prepared in accordance with U.S. GAAP. We recognize our equity in earnings (losses) for Canopy on a two-month lag. Accordingly, we recognized our share of Canopy’s earnings (losses) for the periods January through June 2021 and January through June 2020 in our six months ended August 31, 2021, and August 31, 2020, results, respectively. We recognized our share of Canopy’s earnings (losses) for the periods April through June 2021 and April through June 2020 in our three months ended August 31, 2021, and August 31, 2020, results, respectively. The amounts shown represent 100% of Canopy’s reported results for the respective periods.
Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef