Equity Method Investments (Tables)
|3 Months Ended|
May 31, 2022
|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 May 31, 2022, and February 28, 2022, was $711.9 million and $1,014.8 million, respectively. Refer to discussion below on other-than-temporary impairment considerations.
(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 March 2022 and January through March 2021 in our three months ended May 31, 2022, and May 31, 2021, results, respectively. The three months ended May 31, 2022, includes substantial costs designed to drive efficiency and accelerate Canopy’s path to profitability. The amounts shown represent 100% of Canopy’s reported results of operations 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