Constellation Brands (STZ) 10-Q 6 Oct 21 2022 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Aug. 31, 2021	Oct. 01, 2021
Entity Central Index Key	0000016918
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--02-28
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Aug. 31, 2021
Document Transition Report	false
Entity File Number	001-08495
Entity Registrant Name	CONSTELLATION BRANDS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	16-0716709
Entity Address, Address Line One	207 High Point Drive
Entity Address, Address Line Two	Building 100
Entity Address, City or Town	Victor
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	14564
City Area Code	585
Local Phone Number	678-7100
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Class A Common Stock
Title of 12(b) Security	Class A Common Stock
Trading Symbol	STZ
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding		164,264,039
Class B Common Stock
Title of 12(b) Security	Class B Common Stock
Trading Symbol	STZ.B
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding		23,221,678
Class 1 Common Stock
Entity Common Stock, Shares Outstanding		614,353

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Aug. 31, 2021	Feb. 28, 2021
Current assets:
Cash and cash equivalents	$ 103.4	$ 460.6
Accounts receivable	972.8	785.3
Inventories	1,339	1,291.1
Prepaid expenses and other	528.5	507.5
Total current assets	2,943.7	3,044.5
Property, plant, and equipment	5,505.4	5,821.6
Goodwill	7,798.9	7,793.5
Intangible assets	2,729.7	2,732.1
Equity method investments	2,819	2,788.4
Securities measured at fair value	488.6	1,818.1
Deferred income taxes	2,448	2,492.5
Other assets	607	614.1
Total assets	25,340.3	27,104.8
Current liabilities:
Short-term borrowings	486	0
Current maturities of long-term debt	5.8	29.2
Accounts payable	840.4	460
Other accrued expenses and liabilities	854.9	779.9
Total current liabilities	2,187.1	1,269.1
Long-term debt, less current maturities	10,081.7	10,413.1
Deferred income taxes and other liabilities	1,546.9	1,493.5
Total liabilities	13,815.7	13,175.7
Commitments and contingencies
CBI stockholders’ equity:
Additional paid-in capital	1,648.3	1,604.2
Retained earnings	13,922.2	15,117.8
Accumulated other comprehensive income (loss)	(290.4)	(335.5)
Total stockholders’ equity before treasury stock adjustments	15,282.3	16,388.7
Less: Treasury stock –	(4,089.6)	(2,789.8)
Total CBI stockholders’ equity	11,192.7	13,598.9
Noncontrolling interests	331.9	330.2
Total stockholders’ equity	11,524.6	13,929.1
Total liabilities and stockholders’ equity	25,340.3	27,104.8
Class A Common Stock
CBI stockholders’ equity:
Common stock, value	1.9	1.9
Less: Treasury stock –	(4,087.4)	(2,787.6)
Class B Convertible Common Stock
CBI stockholders’ equity:
Common stock, value	0.3	0.3
Less: Treasury stock –	$ (2.2)	$ (2.2)

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Aug. 31, 2021	Feb. 28, 2021
Class A Common Stock
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	322,000,000	322,000,000
Common stock, shares issued (in shares)	187,247,721	187,204,280
Treasury stock, at cost (in shares)	22,588,014	17,070,550
Class B Convertible Common Stock
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	30,000,000	30,000,000
Common stock, shares issued (in shares)	28,227,478	28,270,288
Treasury stock, at cost (in shares)	5,005,800	5,005,800

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Aug. 31, 2021	Aug. 31, 2020	Aug. 31, 2021	Aug. 31, 2020
Sales	$ 2,565	$ 2,459.7	$ 4,753.3	$ 4,591.4
Excise taxes	(193.9)	(199.3)	(355.7)	(367.6)
Net sales	2,371.1	2,260.4	4,397.6	4,223.8
Cost of product sold	(1,141.4)	(1,044.6)	(2,048.6)	(2,019.7)
Gross profit	1,229.7	1,215.8	2,349	2,204.1
Selling, general, and administrative expenses	(490.5)	(399.1)	(868.8)	(752.4)
Impairment of brewery construction in progress	0	0	(665.9)	0
Impairment of assets held for sale	0	22	0	(3)
Operating income (loss)	739.2	838.7	814.3	1,448.7
Income (loss) from unconsolidated investments	(470.8)	(80.7)	(1,370)	(651.9)
Interest expense	(95.8)	(100.2)	(182.5)	(200.2)
Loss on extinguishment of debt	(29.4)	(0.6)	(29.4)	(7.6)
Income (loss) before income taxes	143.2	657.2	(767.6)	589
(Provision for) benefit from income taxes	(131.3)	(135.4)	(117.8)	(239.8)
Net income (loss)	11.9	521.8	(885.4)	349.2
Net income (loss) attributable to noncontrolling interests	(10.4)	(9.7)	(21.2)	(15)
Net income (loss) attributable to CBI	1.5	512.1	(906.6)	334.2
Comprehensive income (loss)	(45.8)	733.2	(838.6)	(231.7)
Comprehensive (income) loss attributable to noncontrolling interests	(6.5)	(14.2)	(22.9)	16.7
Comprehensive income (loss) attributable to CBI	(52.3)	719	(861.5)	(215)
Class A Common Stock
Net income (loss) attributable to CBI	$ 1.3	$ 455.5	$ (805.8)	$ 297.3
Net income (loss) per common share attributable to CBI:
Net income (loss) per common share attributable to CBI - basic (in dollars per share)	$ 0.01	$ 2.68	$ (4.77)	$ 1.74
Net income (loss) per common share attributable to CBI - diluted (in dollars per share)	$ 0.01	$ 2.62	$ (4.77)	$ 1.71
Weighted average common shares outstanding:
Weighted average common shares outstanding - basic (in shares)	167,447	170,078	169,025	169,841
Weighted average common shares outstanding - diluted (in shares)	192,530	195,142	169,025	194,962
Cash dividends declared per common share:
Cash dividends declared per common share (in dollars per share)	$ 0.76	$ 0.75	$ 1.52	$ 1.50
Class B Convertible Common Stock
Net income (loss) attributable to CBI	$ 0.2	$ 56.6	$ (100.8)	$ 36.9
Net income (loss) per common share attributable to CBI:
Net income (loss) per common share attributable to CBI - basic (in dollars per share)	$ 0.01	$ 2.43	$ (4.34)	$ 1.58
Net income (loss) per common share attributable to CBI - diluted (in dollars per share)	$ 0.01	$ 2.42	$ (4.34)	$ 1.58
Weighted average common shares outstanding:
Weighted average common shares outstanding - basic (in shares)	23,222	23,284	23,234	23,289
Weighted average common shares outstanding - diluted (in shares)	23,222	23,284	23,234	23,289
Cash dividends declared per common share:
Cash dividends declared per common share (in dollars per share)	$ 0.69	$ 0.68	$ 1.38	$ 1.36

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Millions	Total	Common StockClass A Common Stock	Common StockClass B Convertible Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock	Noncontrolling Interests
Stockholders' equity, beginning of period at Feb. 29, 2020	$ 12,474.3	$ 1.9	$ 0.3	$ 1,514.6	$ 13,695.3	$ (266.3)	$ (2,814)	$ 342.5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(172.6)				(177.9)			5.3
Other comprehensive income (loss), net of income tax effect	(792.3)					(756.1)		(36.2)
Comprehensive income (loss)	(964.9)
Dividends declared	(143.3)				(143.3)
Shares issued under equity compensation plans	(3.2)	0	0	(6)			2.8
Stock-based compensation	14.7			14.7
Stockholders' equity, end of period at May. 31, 2020	11,377.6	1.9	0.3	1,523.3	13,374.1	(1,022.4)	(2,811.2)	311.6
Stockholders' equity, beginning of period at Feb. 29, 2020	12,474.3	1.9	0.3	1,514.6	13,695.3	(266.3)	(2,814)	342.5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	349.2
Other comprehensive income (loss), net of income tax effect						(549.2)
Comprehensive income (loss)	(231.7)
Stockholders' equity, end of period at Aug. 31, 2020	12,003.8	1.9	0.3	1,553.6	13,742.2	(815.5)	(2,794.5)	315.8
Stockholders' equity, beginning of period at May. 31, 2020	11,377.6	1.9	0.3	1,523.3	13,374.1	(1,022.4)	(2,811.2)	311.6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	521.8				512.1			9.7
Other comprehensive income (loss), net of income tax effect	211.4					206.9		4.5
Comprehensive income (loss)	733.2
Dividends declared	(144)				(144)
Noncontrolling interest distributions	(10)							(10)
Shares issued under equity compensation plans	27.6	0	0	10.9			16.7
Stock-based compensation	19.4			19.4
Stockholders' equity, end of period at Aug. 31, 2020	12,003.8	1.9	0.3	1,553.6	13,742.2	(815.5)	(2,794.5)	315.8
Stockholders' equity, beginning of period at Feb. 28, 2021	13,929.1	1.9	0.3	1,604.2	15,117.8	(335.5)	(2,789.8)	330.2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(897.3)				(908.1)			10.8
Other comprehensive income (loss), net of income tax effect	104.5					98.9		5.6
Comprehensive income (loss)	(792.8)
Repurchase of shares	(400.8)						(400.8)
Dividends declared	(146.1)				(146.1)
Noncontrolling interest distributions	(10.6)							(10.6)
Shares issued under equity compensation plans	2.9	0	0	(0.9)			3.8
Stock-based compensation	15.9			15.9
Stockholders' equity, end of period at May. 31, 2021	12,597.6	1.9	0.3	1,619.2	14,063.6	(236.6)	(3,186.8)	336
Stockholders' equity, beginning of period at Feb. 28, 2021	13,929.1	1.9	0.3	1,604.2	15,117.8	(335.5)	(2,789.8)	330.2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(885.4)
Other comprehensive income (loss), net of income tax effect						45.1
Comprehensive income (loss)	(838.6)
Stockholders' equity, end of period at Aug. 31, 2021	11,524.6	1.9	0.3	1,648.3	13,922.2	(290.4)	(4,089.6)	331.9
Stockholders' equity, beginning of period at May. 31, 2021	12,597.6	1.9	0.3	1,619.2	14,063.6	(236.6)	(3,186.8)	336
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	11.9				1.5			10.4
Other comprehensive income (loss), net of income tax effect	(57.7)					(53.8)		(3.9)
Comprehensive income (loss)	(45.8)
Repurchase of shares	(904.2)						(904.2)
Dividends declared	(142.9)				(142.9)
Noncontrolling interest distributions	(10.6)							(10.6)
Shares issued under equity compensation plans	10.3	0	0	8.9			1.4
Stock-based compensation	20.2			20.2
Stockholders' equity, end of period at Aug. 31, 2021	$ 11,524.6	$ 1.9	$ 0.3	$ 1,648.3	$ 13,922.2	$ (290.4)	$ (4,089.6)	$ 331.9

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ (885.4)	$ 349.2
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Unrealized net (gain) loss on securities measured at fair value	1,335.1	244.9
Deferred tax provision (benefit)	(19.2)	196.1
Depreciation	162.3	142.7
Stock-based compensation	36	34
Equity in (earnings) losses of equity method investees and related activities, net of distributed earnings	35.3	408.1
Noncash lease expense	40.1	41.3
Amortization of debt issuance costs and loss on extinguishment of debt	35.1	13.7
Impairment of brewery construction in progress	665.9	0
Impairment of assets held for sale	0	3
Loss on inventory and related contracts associated with business optimization	0	25.1
Loss on settlement of treasury lock contracts	0	(29.3)
Change in operating assets and liabilities, net of effects from purchase and sale of business:
Accounts receivable	(187.8)	(56.1)
Inventories	(49.3)	73
Prepaid expenses and other current assets	10.1	51.3
Accounts payable	245.9	116.7
Deferred revenue	144.6	21.8
Other accrued expenses and liabilities	(3.8)	(141.3)
Other	(39)	(49.3)
Total adjustments	2,411.3	1,095.7
Net cash provided by (used in) operating activities	1,525.9	1,444.9
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property, plant, and equipment	(353.4)	(277.8)
Purchase of business, net of cash acquired	0	(19.9)
Investments in equity method investees and securities	(28.6)	(217.4)
Proceeds from sale of assets	1.3	18.1
Proceeds from sale of business	4.6	41.1
Other investing activities	(1)	0.6
Net cash provided by (used in) investing activities	(377.1)	(455.3)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of long-term debt	1,001.9	1,194.6
Principal payments of long-term debt	(1,357.1)	(1,536.4)
Net proceeds from (repayments of) short-term borrowings	486	(238.9)
Dividends paid	(289.3)	(287.6)
Purchases of treasury stock	(1,305)	0
Proceeds from shares issued under equity compensation plans	22.9	32
Payments of minimum tax withholdings on stock-based payment awards	(9.8)	(7.6)
Payments of debt issuance, debt extinguishment, and other financing costs	(34.8)	(18.2)
Distributions to noncontrolling interests	(21.2)	(10)
Net cash provided by (used in) financing activities	(1,506.4)	(872.1)
Effect of exchange rate changes on cash and cash equivalents	0.4	5.7
Net increase (decrease) in cash and cash equivalents	(357.2)	123.2
Cash and cash equivalents, beginning of period	460.6	81.4
Cash and cash equivalents, end of period	103.4	204.6
Supplemental disclosures of noncash investing and financing activities
Additions to property, plant, and equipment	$ 196.5	$ 69.9

Basis of Presentation

Basis of Presentation	6 Months Ended
	Aug. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATIONWe have prepared the Financial Statements, without audit, pursuant to the rules and regulations of the SEC applicable to quarterly reporting on Form 10-Q and reflect, in our opinion, all adjustments necessary to present fairly our financial information. All such adjustments are of a normal recurring nature. Certain information and footnote disclosures normally included in financial statements, prepared in accordance with generally accepted accounting principles, have been condensed or omitted as permitted by such rules and regulations. These Financial Statements should be read in conjunction with the consolidated financial statements and related notes included in the 2021 Annual Report. Results of operations for interim periods are not necessarily indicative of annual results.

Inventories

Inventories	6 Months Ended
	Aug. 31, 2021
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Inventories are stated at the lower of cost (primarily computed in accordance with the first-in, first-out method) or net realizable value. Elements of cost include materials, labor, and overhead and consist of the following: August 31, February 28, (in millions) Raw materials and supplies $ 166.0 $ 151.1 In-process inventories 703.5 735.9 Finished case goods 469.5 404.1 $ 1,339.0 $ 1,291.1 We assess the valuation of our inventories and reduce the carrying value of those inventories that are obsolete or in excess of our forecasted usage to their estimated net realizable value based on analyses and assumptions including, but not limited to, historical usage, future demand, and market requirements. We reduced the carrying value of certain inventories and recognized losses of $82.6 million and $8.6 million for the six months ended August 31, 2021, and August 31, 2020, respectively, and $66.6 million and $3.9 million for the three months ended August 31, 2021, and August 31, 2020, respectively. The increase in obsolescence was predominantly from excess inventory of hard seltzers within the Beer segment, resulting from a slowdown in the overall category. These losses were included in cost of product sold within our consolidated results of operations.

Acquisitions and Divestitures

Acquisitions and Divestitures	6 Months Ended
	Aug. 31, 2021
Business Combinations [Abstract]
ACQUISITIONS AND DIVESTITURES	ACQUISITIONS AND DIVESTITURES Acquisitions Copper & Kings In September 2020, we acquired the remaining ownership interest in Copper & Kings American Brandy Company. This acquisition included a collection of traditional and craft batch-distilled American brandies and other select spirits. The transaction primarily included the acquisition of inventory and property, plant, and equipment. The results of operations of Copper & Kings are reported in the Wine and Spirits segment and have been included in our consolidated results of operations from the date of acquisition. Empathy Wines In June 2020, we acquired the Empathy Wines business, including the acquisition of a digitally-native wine brand which strengthens our position in the DTC and eCommerce markets. This transaction primarily included the acquisition of goodwill, trademarks, and inventory. In addition, the purchase price for Empathy Wines includes an earn-out over five years based on performance. The results of operations of Empathy Wines are reported in the Wine and Spirits segment and have been included in our consolidated results of operations from the date of acquisition. Divestitures Paul Masson Divestiture On January 12, 2021, we sold the Paul Masson Grande Amber Brandy brand, related inventory, and interests in certain contracts. The cash proceeds were used for general corporate purposes. Prior to the Paul Masson Divestiture, we recorded the results of operations of our Paul Masson Grande Amber Brandy business in the Wine and Spirits segment. The following table summarizes the net gain recognized in connection with this divestiture: (in millions) Cash received from buyer $ 272.0 Net assets sold (206.4) Contract termination (4.0) Direct costs to sell (3.2) Gain on sale of business $ 58.4 Wine and Spirits Divestitures On January 5, 2021, we sold a portion of our wine and spirits business, including lower-margin, lower growth wine and spirits brands, related inventory, interests in certain contracts, wineries, vineyards, offices, and facilities. We have the potential to earn an incremental $250 million of contingent consideration if certain brand performance targets are met over a two-year period after closing. Also on January 5, 2021, in a separate, but related transaction with the same buyer, we sold the New Zealand-based Nobilo Wine brand and certain related assets. The cash proceeds were utilized to reduce outstanding debt and for other general corporate purposes. Prior to the Wine and Spirits Divestitures, we recorded the results of operations for this portion of our business in the Wine and Spirits segment. The following table summarizes the net loss recognized in connection with these divestitures: (in millions) Cash received from buyer $ 667.4 Net assets sold (669.1) Transition services agreements (13.0) Direct costs to sell (8.4) AOCI reclassification adjustments, primarily foreign currency translation (5.1) Other (5.2) Loss on sale of business $ (33.4) Concentrate Business Divestiture On December 29, 2020, we sold certain brands used in our concentrates and high-color concentrate business, and certain related intellectual property, inventory, interests in certain contracts, and other assets. Prior to the Concentrate Business Divestiture, we recorded the results of operations of our concentrates and high-color concentrate business in the Wine and Spirits segment. Ballast Point Divestiture On March 2, 2020, we sold the Ballast Point craft beer business, including a number of its associated production facilities and brewpubs. Prior to the Ballast Point Divestiture, we recorded the results of operations of the Ballast Point craft beer business in the Beer segment. We received cash proceeds of $41.1 million, which were primarily utilized to reduce outstanding borrowings.

Derivative Instruments

Derivative Instruments	6 Months Ended
	Aug. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS	DERIVATIVE INSTRUMENTS Overview Our risk management and derivative accounting policies are presented in Notes 1 and 6 of our consolidated financial statements included in our 2021 Annual Report and have not changed significantly for the six months and three months ended August 31, 2021. We have an investment in certain equity securities and other rights which provide us with the option to purchase an additional ownership interest in the equity securities of Canopy (see Note 8). This investment is included in securities measured at fair value and are accounted for at fair value, with the net gain (loss) from the changes in fair value of this investment recognized in income (loss) from unconsolidated investments (see Note 5). The aggregate notional value of outstanding derivative instruments is as follows: August 31, February 28, (in millions) Derivative instruments designated as hedging instruments Foreign currency contracts $ 1,378.3 $ 1,558.0 Derivative instruments not designated as hedging instruments Foreign currency contracts $ 549.6 $ 704.7 Commodity derivative contracts $ 187.0 $ 221.6 Credit risk We are exposed to credit-related losses if the counterparties to our derivative contracts default. This credit risk is limited to the fair value of the derivative contracts. To manage this risk, we contract only with major financial institutions that have earned investment-grade credit ratings and with whom we have standard International Swaps and Derivatives Association agreements which allow for net settlement of the derivative contracts. We have also established counterparty credit guidelines that are regularly monitored. Because of these safeguards, we believe the risk of loss from counterparty default to be immaterial. In addition, our derivative instruments are not subject to credit rating contingencies or collateral requirements. As of August 31, 2021, the estimated fair value of derivative instruments in a net liability position due to counterparties was $0.1 million. If we were required to settle the net liability position under these derivative instruments on August 31, 2021, we would have had sufficient available liquidity on hand to satisfy this obligation. Results of period derivative activity The estimated fair value and location of our derivative instruments on our balance sheets are as follows (see Note 5): Assets Liabilities August 31, February 28, August 31, February 28, (in millions) Derivative instruments designated as hedging instruments Foreign currency contracts: Prepaid expenses and other $ 37.0 $ 32.0 Other accrued expenses and liabilities $ 2.7 $ 3.5 Other assets $ 31.3 $ 41.3 Deferred income taxes and other liabilities $ 4.9 $ 2.7 Assets Liabilities August 31, February 28, August 31, February 28, (in millions) Derivative instruments not designated as hedging instruments Foreign currency contracts: Prepaid expenses and other $ 1.7 $ 3.3 Other accrued expenses and liabilities $ 3.0 $ 3.5 Commodity derivative contracts: Prepaid expenses and other $ 33.7 $ 13.4 Other accrued expenses and liabilities $ 0.3 $ 3.9 Other assets $ 20.0 $ 7.8 Deferred income taxes and other liabilities $ 0.1 $ 1.4 The principal effect of our derivative instruments designated in cash flow hedging relationships on our results of operations, as well as OCI, net of income tax effect, is as follows: Derivative Instruments in Net Location of Net Gain (Loss) Net (in millions) For the Six Months Ended August 31, 2021 Foreign currency contracts $ 11.7 Sales $ (0.4) Cost of product sold 21.6 Treasury lock contracts — Interest expense (1.5) $ 11.7 $ 19.7 For the Six Months Ended August 31, 2020 Foreign currency contracts $ (156.0) Sales $ 0.9 Cost of product sold (27.2) Interest rate swap contracts (0.6) Interest expense (1.1) Treasury lock contracts (16.1) Interest expense (0.7) $ (172.7) $ (28.1) For the Three Months Ended August 31, 2021 Foreign currency contracts $ (7.6) Sales $ (0.2) Cost of product sold 12.6 Treasury lock contracts — Interest expense (0.9) $ (7.6) $ 11.5 For the Three Months Ended August 31, 2020 Foreign currency contracts $ 37.4 Sales $ 0.5 Cost of product sold (18.7) Interest rate swap contracts (0.3) Interest expense (0.7) Treasury lock contracts — Interest expense (0.7) $ 37.1 $ (19.6) We expect $28.4 million of net gains, net of income tax effect, to be reclassified from AOCI to our results of operations within the next 12 months. The effect of our undesignated derivative instruments on our results of operations is as follows: Derivative Instruments Not Location of Net Gain (Loss) Net (in millions) For the Six Months Ended August 31, 2021 Commodity derivative contracts Cost of product sold $ 48.1 Foreign currency contracts Selling, general, and administrative expenses (8.4) $ 39.7 For the Six Months Ended August 31, 2020 Commodity derivative contracts Cost of product sold $ (9.4) Foreign currency contracts Selling, general, and administrative expenses (20.0) $ (29.4) For the Three Months Ended August 31, 2021 Commodity derivative contracts Cost of product sold $ 24.0 Foreign currency contracts Selling, general, and administrative expenses (6.2) $ 17.8 For the Three Months Ended August 31, 2020 Commodity derivative contracts Cost of product sold $ 17.4 Foreign currency contracts Selling, general, and administrative expenses 5.9 $ 23.3

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Aug. 31, 2021
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	FAIR VALUE OF FINANCIAL INSTRUMENTS Authoritative guidance establishes a framework for measuring fair value, including a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. The hierarchy includes three levels: • Level 1 inputs are quoted prices in active markets for identical assets or liabilities; • Level 2 inputs include data points that are observable such as quoted prices for similar assets or liabilities in active markets, quoted prices for identical assets or similar assets or liabilities in markets that are not active, and inputs (other than quoted prices) such as volatility, interest rates, and yield curves that are observable for the asset and liability, either directly or indirectly; and • Level 3 inputs are unobservable data points for the asset or liability, and include situations where there is little, if any, market activity for the asset or liability. Fair value methodology The following methods and assumptions are used to estimate the fair value for each class of our financial instruments: Foreign currency and commodity derivative contracts The fair value is estimated using market-based inputs, obtained from independent pricing services, entered into valuation models. These valuation models require various inputs, including contractual terms, market foreign exchange prices, market commodity prices, interest-rate yield curves, and currency volatilities, as applicable (Level 2 fair value measurement). Canopy investment Equity securities, Warrants – The November 2018 Canopy Warrants consist of three tranches of warrants, including 88.5 million Tranche A Warrants expiring November 1, 2023, which are currently exercisable, 38.4 million Tranche B Warrants expiring November 1, 2026, and 12.8 million Tranche C Warrants expiring November 1, 2026. The inputs used to estimate the fair value of the November 2018 Canopy Warrants are as follows (1) (2) : August 31, 2021 February 28, 2021 Tranche A Warrants (3) Tranche B Warrants (4) Tranche A Warrants (3) Tranche B Warrants (4) Exercise price (5) C$ 50.40 C$ 76.68 C$ 50.40 C$ 76.68 Valuation date stock price (6) C$ 21.71 C$ 21.71 C$ 41.90 C$ 41.90 Remaining contractual term (7) 2.2 years 5.2 years 2.7 years 5.7 years Expected volatility (8) 65.0 % 65.0 % 70.0 % 70.0 % Risk-free interest rate (9) 0.4 % 0.8 % 0.5 % 1.1 % Expected dividend yield (10) 0.0 % 0.0 % 0.0 % 0.0 % (1) The exercise price for the Tranche C Warrants is based on the VWAP Exercise Price. The Tranche C Warrants are not included in the table as there is no fair value assigned. (2) In connection with the Acreage Transaction, we obtained other rights which include a share repurchase credit. If Canopy has not purchased the lesser of 27,378,866 Canopy common shares, or C$1,583.0 million worth of Canopy common shares for cancellation between April 18, 2019, and two-years after the full exercise of the Tranche A Warrants, we will be credited an amount that will reduce the aggregate exercise price otherwise payable upon each exercise of the Tranche B Warrants and Tranche C Warrants. The credit will be an amount equal to the difference between C$1,583.0 million and the actual price paid by Canopy in purchasing its common shares for cancellation. The likelihood of receiving the share repurchase credit if we were to fully exercise the Tranche A Warrants is remote, therefore, no fair value has been assigned. (3) The fair value is estimated using the Black-Scholes option-pricing model (Level 2 fair value measurement). (4) The fair value is estimated using Monte Carlo simulations (Level 2 fair value measurement). (5) Based on the exercise price from the applicable underlying agreements. (6) Based on the closing market price for Canopy common stock on the TSX as of the applicable date. (7) Based on the expiration date of the warrants. (8) Based on consideration of historical and/or implied volatility levels of the underlying equity security and limited consideration of historical peer group volatility levels. (9) Based on the implied yield currently available on Canadian Treasury zero coupon issues with a remaining term equal to the expiration date of the applicable warrants. (10) Based on historical dividend levels. Debt securities, Convertible – We have elected the fair value option to account for the Canopy Debt Securities acquired in June 2018 for C$200.0 million, or $150.5 million. Interest income on the Canopy Debt Securities is calculated using the effective interest method and is recognized separately from the changes in fair value in interest expense. The Canopy Debt Securities have a contractual maturity of five years from the date of issuance but may be converted prior to maturity by either party upon the occurrence of certain events. At settlement, the Canopy Debt Securities can be settled at the option of the issuer, in cash, equity shares of the issuer, or a combination thereof. The fair value is estimated using a binomial lattice option-pricing model (Level 2 fair value measurement), which includes an estimate of the credit spread based on market spreads using bond data as of the valuation date. The inputs used to estimate the fair value of the Canopy Debt Securities are as follows: August 31, February 28, Conversion price (1) C$ 48.17 C$ 48.17 Valuation date stock price (2) C$ 21.71 C$ 41.90 Remaining term (3) 1.9 years 2.4 years Expected volatility (4) 65.0 % 57.6 % Risk-free interest rate (5) 0.4 % 0.4 % Expected dividend yield (6) 0.0 % 0.0 % (1) Based on the rate which the Canopy Debt Securities may be converted into equity shares, or the equivalent amount of cash, at the option of the issuer. (2) Based on the closing market price for Canopy common stock on the TSX as of the applicable date. (3) Based on the contractual maturity date of the notes. (4) Based on consideration of historical and/or implied volatility levels of the underlying equity security, adjusted for certain risks associated with debt securities, as appropriate. (5) Based on the implied yield currently available on Canadian Treasury zero coupon issues with a term equal to the remaining contractual term of the Canopy Debt Securities. (6) Based on historical dividend levels. Short-term borrowings Our short-term borrowings consist of our commercial paper program and the revolving credit facility under our 2020 Credit Agreement. The revolving credit facility is a variable interest rate bearing note with a fixed margin, adjustable based upon our debt rating (as defined in our senior credit facility). For these short-term borrowings the carrying value approximates the fair value. Long-term debt The term loan under our June 2021 Term Credit Agreement is a variable interest rate bearing note with a fixed margin, adjustable based upon our debt rating. The carrying value approximates the fair value of the term loan. The fair value of the remaining fixed interest rate long-term debt is estimated by discounting cash flows using interest rates currently available for debt with similar terms and maturities (Level 2 fair value measurement). The carrying amounts of certain of our financial instruments, including cash and cash equivalents, accounts receivable, and accounts payable, approximate fair value as of August 31, 2021, and February 28, 2021, due to the relatively short maturity of these instruments. As of August 31, 2021, the carrying amount of long-term debt, including the current portion, was $10,087.5 million, compared with an estimated fair value of $11,197.6 million. As of February 28, 2021, the carrying amount of long-term debt, including the current portion, was $10,442.3 million, compared with an estimated fair value of $11,580.9 million. Recurring basis measurements The following table presents our financial assets and liabilities measured at estimated fair value on a recurring basis: Fair Value Measurements Using Quoted Significant Significant Total (in millions) August 31, 2021 Assets: Foreign currency contracts $ — $ 70.0 $ — $ 70.0 Commodity derivative contracts $ — $ 53.7 $ — $ 53.7 Equity securities (1) $ — $ 332.7 $ — $ 332.7 Canopy Debt Securities (1) $ — $ 153.8 $ — $ 153.8 Liabilities: Foreign currency contracts $ — $ 10.6 $ — $ 10.6 Commodity derivative contracts $ — $ 0.4 $ — $ 0.4 February 28, 2021 Assets: Foreign currency contracts $ — $ 76.6 $ — $ 76.6 Commodity derivative contracts $ — $ 21.2 $ — $ 21.2 Equity securities (1) $ — $ 1,639.7 $ — $ 1,639.7 Canopy Debt Securities (1) $ — $ 176.3 $ — $ 176.3 Liabilities: Foreign currency contracts $ — $ 9.7 $ — $ 9.7 Commodity derivative contracts $ — $ 5.3 $ — $ 5.3 (1) Unrealized net gain (loss) from the changes in fair value of our securities measured at fair value recognized in income (loss) from unconsolidated investments, are as follows: For the Six Months For the Three Months 2021 2020 2021 2020 (in millions) November 2017 Canopy Warrants (i) $ — $ (61.8) $ — $ — November 2018 Canopy Warrants (1,307.0) (180.6) (570.8) (57.6) Canopy Debt Securities (28.1) (2.5) (19.2) 10.0 $ (1,335.1) $ (244.9) $ (590.0) $ (47.6) (i) In May 2020, we exercised warrants obtained in November 2017 which gave us the option to purchase 18.9 million common shares of Canopy at an exercise price of C$12.98 per warrant share for C$245.0 million, or $173.9 million. Nonrecurring basis measurements The following table presents our assets and liabilities measured at estimated fair value on a nonrecurring basis for which an impairment assessment was performed for the periods presented: Fair Value Measurements Using Quoted Significant Significant Total Losses (in millions) For the Six Months Ended August 31, 2021 Long-lived assets $ — $ — $ 20.0 $ 665.9 For the Six Months Ended August 31, 2020 Long-lived assets held for sale $ — $ — $ 795.2 $ 3.0 Long-lived assets In April 2021, our Board of Directors authorized management to sell or abandon the Mexicali Brewery. Subsequently, management determined that we will be unable to use or repurpose certain assets at the Mexicali Brewery. Accordingly, for the first quarter of Fiscal 2022, long-lived assets with a carrying value of $685.9 million were written down to their estimated fair value of $20.0 million, resulting in an impairment of $665.9 million. This impairment was included in impairment of brewery construction in progress within our consolidated results of operations for the six months ended August 31, 2021. Our estimate of fair value was determined based on the expected salvage value of the assets. The Mexicali Brewery is a component of the Beer segment. We are continuing to work with government officials in Mexico to (i) determine next steps for our suspended Mexicali Brewery construction project and (ii) pursue various forms of recovery for capitalized costs and additional expenses incurred in establishing the brewery, however, there can be no assurance of any recoveries. In the medium-term, under normal operating conditions, we have ample capacity at the Nava and Obregon breweries to meet consumer needs based on current growth forecasts and current and planned production capabilities. To align with our anticipated future growth expectations we are also working with the Mexican government to explore options to add further capacity at other locations in Mexico where there is ample water and a skilled workforce to meet our long-term needs. Long-lived assets held for sale For the first quarter of Fiscal 2021, in connection with the Wine and Spirits Divestitures and the Concentrate Business Divestiture, long-lived assets held for sale were written down to their estimated fair value, less cost to sell, resulting in a loss of $25.0 million. Subsequently, for the second quarter of Fiscal 2021, a reduction to the loss on long-lived assets held for sale of $22.0 million was recognized. The long-lived assets held for sale with a carrying value of $798.2 million were written down to their estimated fair value of $795.2 million, less costs to sell, resulting in a total loss of $3.0 million for the six months ended August 31, 2020. This loss was included in impairment of assets held for sale within our consolidated results of operations. These assets consisted primarily of goodwill, intangible assets, and certain winery and vineyard assets which had satisfied the conditions necessary to be classified as held for sale. Our estimated fair value was determined based on the expected proceeds primarily from the Wine and Spirits Divestitures and the Concentrate Business Divestiture as of August 31, 2020, excluding the contingent consideration, which we will recognize when it is determined to be realizable.

Goodwill

Goodwill	6 Months Ended
	Aug. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL	GOODWILL The changes in the carrying amount of goodwill are as follows: Beer Wine and Spirits Consolidated (in millions) Balance, February 29, 2020 $ 5,163.4 $ 2,593.7 $ 7,757.1 Purchase accounting allocations (1) — 14.3 14.3 Foreign currency translation adjustments (38.7) 15.9 (22.8) Reclassified from assets held for sale (2) 0.9 44.0 44.9 Balance, February 28, 2021 5,125.6 2,667.9 7,793.5 Purchase accounting allocations (1) — 0.9 0.9 Foreign currency translation adjustments 6.8 (2.3) 4.5 Balance, August 31, 2021 $ 5,132.4 $ 2,666.5 $ 7,798.9 (1) Purchase accounting allocations associated with the acquisition of Empathy Wines. (2) Primarily in connection with the Wine and Spirits Divestitures, goodwill associated with the businesses being sold was reclassified from assets held for sale based on the changes to relative fair values of the portion of the business being sold and the remaining wine and spirits and beer portfolios. The relative fair values were determined using the income approach based on assumptions, including projected revenue growth rates, terminal growth rate, and discount rate and other projected financial information.

Intangible Assets

Intangible Assets	6 Months Ended
	Aug. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS	INTANGIBLE ASSETS The major components of intangible assets are as follows: August 31, 2021 February 28, 2021 Gross Net Gross Net (in millions) Amortizable intangible assets Customer relationships $ 87.2 $ 24.5 $ 87.2 $ 26.3 Other 21.0 0.2 21.1 0.2 Total $ 108.2 24.7 $ 108.3 26.5 Nonamortizable intangible assets Trademarks 2,705.0 2,705.6 Total intangible assets $ 2,729.7 $ 2,732.1 We did not incur costs to renew or extend the term of acquired intangible assets for the six months and three months ended August 31, 2021, and August 31, 2020. Net carrying amount represents the gross carrying value net of accumulated amortization.

Equity Method Investments

Equity Method Investments	6 Months Ended
	Aug. 31, 2021
Equity Method Investments and Joint Ventures [Abstract]
EQUITY METHOD INVESTMENTS	EQUITY METHOD INVESTMENTS Our equity method investments are as follows: August 31, 2021 February 28, 2021 Carrying Value Ownership Percentage Carrying Value Ownership Percentage (in millions) Canopy Equity Method Investment (1) (2) $ 2,580.2 36.2 % $ 2,578.8 38.1 % Other equity method investments 238.8 20%-50% 209.6 20%-50% $ 2,819.0 $ 2,788.4 (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: Common Shares Purchase Price (in millions) November 2017 Canopy Investment 18.9 $ 130.1 November 2018 Canopy Investment 104.5 2,740.3 May 2020 Canopy Investment 18.9 173.9 142.3 $ 3,044.3 Canopy Equity Method Investment We complement our beverage alcohol strategy with our investment in Canopy, a leading provider of medicinal and recreational cannabis products. Equity in earnings (losses) from the Canopy Equity Method Investment and related activities (see table below) include, among other items, restructuring and other strategic business development costs, the amortization of the fair value adjustments associated with the definite-lived intangible assets over their estimated useful lives, and unrealized gains (losses) associated with changes in our Canopy ownership percentage resulting from periodic equity issuances made by Canopy. Amounts included in our consolidated results of operations for each period are as follows: For the Six Months For the Three Months 2021 2020 2021 2020 (in millions) Equity in earnings (losses) from Canopy and related activities $ (35.3) $ (408.6) $ 120.5 $ (31.0) Canopy has various equity and convertible debt securities outstanding, including primarily equity awards granted to its employees, and options and warrants issued to various third parties, including our November 2018 Canopy Warrants, Canopy Debt Securities, and the Acreage Financial Instrument. As of August 31, 2021, the exercise and/or conversion of certain of these outstanding securities could have a significant effect on our share of Canopy’s reported earnings or losses and our ownership interest in Canopy. We have evaluated the Canopy Equity Method Investment as of August 31, 2021, and determined that there was not an other-than-temporary-impairment. Our conclusion was based on several contributing factors, including: (i) the period of time for which the fair value has been less than the carrying value, (ii) an expectation that Canopy’s results will improve, (iii) an expectation that the Canopy stock price will recover in the near term, and (iv) our ability and intent to hold the investment until that recovery. We will continue to review the Canopy Equity Method Investment for an other-than-temporary impairment. There may be a future impairment of our Canopy Equity Method Investment if Canopy’s stock price does not recover in the near term or our expectations about Canopy’s prospective results and cash flows decline, which could be influenced by a variety of factors including adverse market conditions and the economic impact of COVID-19. 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. For the Six Months For the Three Months 2021 2020 2021 2020 (in millions) Net sales $ 228.1 $ 160.0 $ 110.8 $ 79.7 Gross profit (loss) $ 29.9 $ (52.6) $ 22.2 $ 4.7 Net income (loss) $ (169.7) $ (1,066.2) $ 317.4 $ (92.6) Net income (loss) attributable to Canopy $ (233.5) $ (1,031.7) $ 319.4 $ (78.3) Other equity method investment My Favorite Neighbor In April 2020, we invested in My Favorite Neighbor, a super-luxury, DTC focused wine business which we account for under the equity method. We recognize our share of their equity in earnings (losses) in our consolidated financial statements in the Wine and Spirits segment.

Borrowings

Borrowings	6 Months Ended
	Aug. 31, 2021
Debt Disclosure [Abstract]
BORROWINGS	BORROWINGS Borrowings consist of the following: August 31, 2021 February 28, Current Long-term Total Total (in millions) Short-term borrowings Commercial paper $ 486.0 $ — $ 486.0 $ — Long-term debt Term loan credit facilities $ — $ 300.0 $ 300.0 $ 454.4 Senior notes — 9,768.3 9,768.3 9,972.4 Other 5.8 13.4 19.2 15.5 $ 5.8 $ 10,081.7 $ 10,087.5 $ 10,442.3 Bank facilities The Company, CB International, the Administrative Agent, and certain other lenders are parties to a credit agreement, as amended and restated, the 2020 Credit Agreement. Also, the Company and the Administrative Agent and Lender are parties to the June 2021 Term Credit Agreement. The principal change effected by the June 2021 amendment was a reduction in LIBOR margin from 0.88% to 0.63% from June 1, 2021, through December 31, 2021. As of August 31, 2021, aggregate credit facilities under the 2020 Credit Agreement and the June 2021 Term Credit Agreement consist of the following: Amount Maturity (in millions) 2020 Credit Agreement Revolving credit facility (1) (2) $ 2,000.0 Sept 14, 2023 June 2021 Term Credit Agreement 2019 Five-Year Term Facility (1) (3) $ 491.3 Jun 28, 2024 (1) Contractual interest rate varies based on our debt rating (as defined in the respective agreement) and is a function of LIBOR plus a margin, or the base rate plus a margin, or, in certain circumstances where LIBOR cannot be adequately ascertained or available, an alternative benchmark rate plus a margin. (2) We and/or CB International are the borrower under the $2,000.0 million revolving credit facility. Includes a sub-facility for letters of credit of up to $200.0 million. (3) We are the borrower under the 2019 Five-Year Term Facility. As of August 31, 2021, information with respect to borrowings under the 2020 Credit Agreement and the June 2021 Term Credit Agreement is as follows: Outstanding Interest LIBOR Outstanding Remaining borrowing capacity (1) (in millions) 2020 Credit Agreement Revolving credit facility $ — — % — % $ 12.2 $ 1,501.8 June 2021 Term Credit Agreement 2019 Five-Year Term Facility (2) (3) $ 300.0 0.7 % 0.63 % (1) Net of outstanding revolving credit facility borrowings, outstanding letters of credit under the 2020 Credit Agreement, and outstanding borrowings under our commercial paper program of $486.0 million (excluding unamortized discount) (see “Commercial paper program” below). (2) Outstanding term loan facilities borrowings are net of unamortized debt issuance costs. (3) Outstanding borrowings reflect a $142.1 million partial prepayment of the 2019 Five-Year Term Facility under our June 2021 Term Credit Agreement. We and our subsidiaries are subject to covenants that are contained in the 2020 Credit Agreement and the June 2021 Term Credit Agreement, including those restricting the incurrence of additional indebtedness, additional liens, mergers and consolidations, transactions with affiliates, and sale and leaseback transactions, in each case subject to numerous conditions, exceptions, and thresholds. The financial covenants are limited to a minimum interest coverage ratio and a maximum net leverage ratio. Commercial paper program We have a commercial paper program which provides for the issuance of up to an aggregate principal amount of $2.0 billion of commercial paper. Our commercial paper program is backed by unused commitments under our revolving credit facility under our 2020 Credit Agreement. Accordingly, outstanding borrowings under our commercial paper program reduce the amount available under our revolving credit facility. As of August 31, 2021, we had $486.0 million outstanding borrowings, net of unamortized discount, under our commercial paper program with a weighted average annual interest rate of 0.2% and a weighted average remaining term of 15 days. Senior notes In July 2021, we issued $1,000.0 million aggregate principal amount of 2.25% senior notes due August 2031. Proceeds from this offering, net of discount and debt issuance costs, were $987.4 million. Interest on the 2.25% July 2021 Senior Notes is payable semiannually on February 1 and August 1 of each year, beginning February 1, 2022. The 2.25% July 2021 Senior Notes are redeemable, in whole or in part, at our option at any time prior to May 1, 2031, at a redemption price equal to 100% of the outstanding principal amount, plus accrued and unpaid interest and a make-whole payment based on the present value of the future payments at the adjusted Treasury Rate plus 15 basis points. On or after May 1, 2031, we may redeem the 2.25% July 2021 Senior Notes, in whole or in part, at our option at any time at a redemption price equal to 100% of the outstanding principal amount, plus accrued and unpaid interest. The 2.25% July 2021 Senior Notes are senior unsecured obligations which rank equally in right of payment to all of our existing and future senior unsecured indebtedness. In May 2017, we issued $500.0 million aggregate principal amount of 2.70% senior notes due May 2022. In November 2017, we issued $700.0 million aggregate principal amount of 2.65% senior notes due November 2022. On August 25, 2021, we repaid the 2.70% May 2017 Senior Notes and 2.65% November 2017 Senior Notes with proceeds from the 2.25% July 2021 Senior Notes and cash on hand. These notes were redeemed prior to maturity at a redemption price equal to 100% of the outstanding principal amount, plus accrued and unpaid interest and a $26.6 million make-whole payment. The make-whole payment is included in loss on extinguishment of debt within our consolidated results.

Income Taxes

Income Taxes	6 Months Ended
	Aug. 31, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Our effective tax rate for the six months ended August 31, 2021, and August 31, 2020, was (15.3)% and 40.7%, respectively. Our effective tax rate for the three months ended August 31, 2021, and August 31, 2020, was 91.7% and 20.6%, respectively. For the six months ended August 31, 2021, our effective tax rate was lower than the federal statutory rate of 21% primarily due to: • valuation allowances on a portion of the unrealized net loss from changes in fair value of our investment in Canopy and Canopy equity in earnings (losses), and • the impact of the long-lived asset impairment of brewery construction in progress. For the three months ended August 31, 2021, our effective tax rate was higher than the federal statutory rate of 21% primarily due to: • valuation allowances on the unrealized net loss from changes in fair value of our investment in Canopy and Canopy equity in earnings (losses); partially offset by • the benefit of lower effective tax rates applicable to our foreign businesses. For the six months ended August 31, 2020, our effective tax rate was higher than the federal statutory rate of 21% primarily due to: • valuation allowances on the unrealized net loss from changes in fair value of our investment in Canopy and Canopy equity in earnings (losses), and • valuation allowances on existing capital loss carryforwards; partially offset by • the recognition of a net income tax benefit from stock-based compensation award activity. For the three months ended August 31, 2020, our effective tax rate approximated the federal statutory rate of 21% as the recognition of a net income tax benefit from stock-based compensation award activity was largely offset by (i) valuation allowances on the unrealized net loss from the changes in fair value of our investment in Canopy and Canopy equity in earnings (losses) and (ii) higher effective tax rates from our foreign businesses.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Aug. 31, 2021
Equity [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS’ EQUITY Common stock The number of shares of common stock issued and treasury stock, and associated share activity, are as follows: Common Stock Treasury Stock Class A Class B Class 1 Class A Class B Balance at February 28, 2021 187,204,280 28,270,288 612,936 17,070,550 5,005,800 Share repurchases — — — 1,696,722 — Conversion of shares 43,441 (42,810) (631) — — Exercise of stock options — — 781 (116,058) — Vesting of restricted stock units (1) — — — (66,157) — Vesting of performance share units (1) — — — (7,934) — Balance at May 31, 2021 187,247,721 28,227,478 613,086 18,577,123 5,005,800 Share repurchases — — — 4,079,651 — Exercise of stock options — — 1,267 (34,736) — Employee stock purchases — — — (28,768) — Vesting of restricted stock units (1) — — — (5,256) — Balance at August 31, 2021 187,247,721 28,227,478 614,353 22,588,014 5,005,800 Balance at February 29, 2020 186,090,745 28,300,206 1,692,227 18,256,826 5,005,800 Conversion of shares 2,532 (2,532) — — — Exercise of stock options — — 2,576 (44,593) — Vesting of restricted stock units (1) — — — (76,019) — Vesting of performance share units (1) — — — (17,335) — Balance at May 31, 2020 186,093,277 28,297,674 1,694,803 18,118,879 5,005,800 Conversion of shares 684,808 (11,113) (673,695) — — Exercise of stock options — — — (781,075) — Employee stock purchases — — — (32,867) — Vesting of restricted stock units (1) — — — (3,514) — Balance at August 31, 2020 186,778,085 28,286,561 1,021,108 17,301,423 5,005,800 (1) Net of the following shares withheld to satisfy tax withholding requirements: For the Three For the Three For the Six 2021 Restricted Stock Units 36,048 165 36,213 Performance Share Units 4,565 — 4,565 2020 Restricted Stock Units 37,506 187 37,693 Performance Share Units 9,433 — 9,433 Stock repurchases In January 2018, our Board of Directors authorized the repurchase of up to $3.0 billion of our Class A Common Stock and Class B Convertible Common Stock. In January 2021, our Board of Directors authorized an additional repurchase of up to $2.0 billion of our Class A Common Stock and Class B Convertible Common Stock. The Board of Directors did not specify a date upon which these authorizations would expire. Shares repurchased under these authorizations will become treasury shares. For the six months ended August 31, 2021, we repurchased 5,776,373 shares of Class A Common Stock pursuant to the 2018 Authorization at an aggregate cost of $1,305.0 million through a combination of open market transactions and an ASR that was announced in June 2021. Subsequent to August 31, 2021, we repurchased 402,642 shares of Class A Common Stock pursuant to the 2018 Authorization at an aggregate cost of $85.5 million through open market transactions. Beginning August 25, 2021, all repurchases were made pursuant to a Rule 10b5-1 trading plan. As of October 6, 2021, total shares repurchased under the 2018 Authorization and the 2021 Authorization are as follows: Class A Common Shares Repurchase Dollar Value Number of (in millions, except share data) 2018 Authorization $ 3,000.0 $ 2,436.4 11,076,620 2021 Authorization $ 2,000.0 $ — —

Net Income (Loss) Per Common Sh

Net Income (Loss) Per Common Share Attributable to CBI	6 Months Ended
	Aug. 31, 2021
Earnings Per Share [Abstract]
NET INCOME (LOSS) PER COMMON SHARE ATTRIBUTABLE TO CBI	NET INCOME (LOSS) PER COMMON SHARE ATTRIBUTABLE TO CBI For the six months ended August 31, 2021, net income (loss) per common share – diluted for Class A Common Stock and Class B Convertible Common Stock have been computed using the two-class method. For the three months ended August 31, 2021, and for the six months and three months ended August 31, 2020, net income (loss) per common share – diluted for Class A Common Stock has been computed using the if-converted method and assumes the exercise of stock options using the treasury stock method and the conversion of Class B Convertible Common Stock as this method is more dilutive than the two-class method. For the three months ended August 31, 2021, and for the six months and three months ended August 31, 2020, net income (loss) per common share – diluted for Class B Convertible Common Stock has been computed using the two-class method and does not assume conversion of Class B Convertible Common Stock into shares of Class A Common Stock. The computation of basic and diluted net income (loss) per common share is as follows: For the Six Months Ended August 31, 2021 August 31, 2020 Common Stock Common Stock Class A Class B Class A Class B (in millions, except per share data) Net income (loss) attributable to CBI allocated – $ (805.8) $ (100.8) $ 297.3 $ 36.9 Conversion of Class B common shares into Class A common shares — — 36.9 — Effect of stock-based awards on allocated net income (loss) — — — — Net income (loss) attributable to CBI allocated – diluted $ (805.8) $ (100.8) $ 334.2 $ 36.9 Weighted average common shares outstanding – 169.025 23.234 169.841 23.289 Conversion of Class B common shares into Class A common shares (1) — — 23.289 — Stock-based awards, primarily stock options (1) — — 1.832 — Weighted average common shares outstanding – diluted 169.025 23.234 194.962 23.289 Net income (loss) per common share attributable to CBI – $ (4.77) $ (4.34) $ 1.74 $ 1.58 Net income (loss) per common share attributable to CBI – diluted $ (4.77) $ (4.34) $ 1.71 $ 1.58 For the Three Months Ended August 31, 2021 August 31, 2020 Common Stock Common Stock Class A Class B Class A Class B (in millions, except per share data) Net income (loss) attributable to CBI allocated – basic $ 1.3 $ 0.2 $ 455.5 $ 56.6 Conversion of Class B common shares into Class A common shares 0.2 — 56.6 — Effect of stock-based awards on allocated net income (loss) — — — (0.4) Net income (loss) attributable to CBI allocated – diluted $ 1.5 $ 0.2 $ 512.1 $ 56.2 Weighted average common shares outstanding – basic 167.447 23.222 170.078 23.284 Conversion of Class B common shares into Class A common shares 23.222 — 23.284 — Stock-based awards, primarily stock options 1.861 — 1.780 — Weighted average common shares outstanding – diluted 192.530 23.222 195.142 23.284 Net income (loss) per common share attributable to CBI – basic $ 0.01 $ 0.01 $ 2.68 $ 2.43 Net income (loss) per common share attributable to CBI – diluted $ 0.01 $ 0.01 $ 2.62 $ 2.42 (1) For the six months ended August 31, 2021, we have excluded the following weighted average common shares outstanding from the calculation of diluted net income (loss) per common share, as the effect of including these would have been anti-dilutive, in millions: Class B Convertible Common Stock 23.234 Stock-based awards, primarily stock options 1.936

Comprehensive Income (Loss) Att

Comprehensive Income (Loss) Attributable to CBI	6 Months Ended
	Aug. 31, 2021
Equity [Abstract]
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO CBI	COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO CBI Comprehensive income (loss) consists of net income (loss), foreign currency translation adjustments, unrealized net gain (loss) on derivative instruments, pension/postretirement adjustments, and our share of OCI of equity method investments. The reconciliation of net income (loss) attributable to CBI to comprehensive income (loss) attributable to CBI is as follows: Before Tax Tax (Expense) Net of Tax (in millions) For the Six Months Ended August 31, 2021 Net income (loss) attributable to CBI $ (906.6) Other comprehensive income (loss) attributable to CBI: Foreign currency translation adjustments: Net gain (loss) $ 73.0 $ — 73.0 Reclassification adjustments — — — Net gain (loss) recognized in other comprehensive income (loss) 73.0 — 73.0 Unrealized gain (loss) on cash flow hedges: Net derivative gain (loss) 19.3 (8.5) 10.8 Reclassification adjustments (20.1) 1.7 (18.4) Net gain (loss) recognized in other comprehensive income (loss) (0.8) (6.8) (7.6) Before Tax Tax (Expense) Net of Tax (in millions) Pension/postretirement adjustments: Net actuarial gain (loss) (0.1) — (0.1) Reclassification adjustments — — — Net gain (loss) recognized in other comprehensive income (loss) (0.1) — (0.1) Share of OCI of equity method investments Net gain (loss) (26.1) 5.9 (20.2) Reclassification adjustments — — — Net gain (loss) recognized in other comprehensive income (loss) (26.1) 5.9 (20.2) Other comprehensive income (loss) attributable to CBI $ 46.0 $ (0.9) 45.1 Comprehensive income (loss) attributable to CBI $ (861.5) For the Six Months Ended August 31, 2020 Net income (loss) attributable to CBI $ 334.2 Other comprehensive income (loss) attributable to CBI: Foreign currency translation adjustments: Net gain (loss) $ (449.0) $ — (449.0) Reclassification adjustments — — — Net gain (loss) recognized in other comprehensive income (loss) (449.0) — (449.0) Unrealized gain (loss) on cash flow hedges: Net derivative gain (loss) (163.4) 3.2 (160.2) Reclassification adjustments 28.0 (1.9) 26.1 Net gain (loss) recognized in other comprehensive income (loss) (135.4) 1.3 (134.1) Pension/postretirement adjustments: Net actuarial gain (loss) (0.2) — (0.2) Reclassification adjustments — — — Net gain (loss) recognized in other comprehensive income (loss) (0.2) — (0.2) Share of OCI of equity method investments Net gain (loss) 34.7 (0.6) 34.1 Reclassification adjustments — — — Net gain (loss) recognized in other comprehensive income (loss) 34.7 (0.6) 34.1 Other comprehensive income (loss) attributable to CBI $ (549.9) $ 0.7 (549.2) Comprehensive income (loss) attributable to CBI $ (215.0) For the Three Months Ended August 31, 2021 Net income (loss) attributable to CBI $ 1.5 Other comprehensive income (loss) attributable to CBI: Foreign currency translation adjustments: Net gain (loss) $ (30.0) $ — (30.0) Reclassification adjustments — — — Net gain (loss) recognized in other comprehensive income (loss) (30.0) — (30.0) Before Tax Tax (Expense) Net of Tax (in millions) Unrealized gain (loss) on cash flow hedges: Net derivative gain (loss) (8.2) 1.3 (6.9) Reclassification adjustments (12.3) 1.5 (10.8) Net gain (loss) recognized in other comprehensive income (loss) (20.5) 2.8 (17.7) Pension/postretirement adjustments: Net actuarial gain (loss) 0.1 — 0.1 Reclassification adjustments — — — Net gain (loss) recognized in other comprehensive income (loss) 0.1 — 0.1 Share of OCI of equity method investments Net gain (loss) (8.0) 1.8 (6.2) Reclassification adjustments — — — Net gain (loss) recognized in other comprehensive income (loss) (8.0) 1.8 (6.2) Other comprehensive income (loss) attributable to CBI $ (58.4) $ 4.6 (53.8) Comprehensive income (loss) attributable to CBI $ (52.3) For the Three Months Ended August 31, 2020 Net income (loss) attributable to CBI $ 512.1 Other comprehensive income (loss) attributable to CBI: Foreign currency translation adjustments: Net gain (loss) $ 170.9 $ — 170.9 Reclassification adjustments — — — Net gain (loss) recognized in other comprehensive income (loss) 170.9 — 170.9 Unrealized gain (loss) on cash flow hedges: Net derivative gain (loss) 37.1 (2.1) 35.0 Reclassification adjustments 20.3 (1.4) 18.9 Net gain (loss) recognized in other comprehensive income (loss) 57.4 (3.5) 53.9 Pension/postretirement adjustments: Net actuarial gain (loss) (0.7) 0.2 (0.5) Reclassification adjustments — — — Net gain (loss) recognized in other comprehensive income (loss) (0.7) 0.2 (0.5) Share of OCI of equity method investments Net gain (loss) (17.8) 0.4 (17.4) Reclassification adjustments — — — Net gain (loss) recognized in other comprehensive income (loss) (17.8) 0.4 (17.4) Other comprehensive income (loss) attributable to CBI $ 209.8 $ (2.9) 206.9 Comprehensive income (loss) attributable to CBI $ 719.0 Accumulated other comprehensive income (loss), net of income tax effect, includes the following components: Foreign Unrealized Pension/ Share of OCI of Accumulated (in millions) Balance, February 28, 2021 $ (392.5) $ 43.5 $ (4.2) $ 17.7 $ (335.5) Other comprehensive income (loss): Other comprehensive income (loss) before reclassification adjustments 73.0 10.8 (0.1) (20.2) 63.5 Amounts reclassified from accumulated other comprehensive income (loss) — (18.4) — — (18.4) Other comprehensive income (loss) 73.0 (7.6) (0.1) (20.2) 45.1 Balance, August 31, 2021 $ (319.5) $ 35.9 $ (4.3) $ (2.5) $ (290.4)

Business Segment Information

Business Segment Information	6 Months Ended
	Aug. 31, 2021
Segment Reporting [Abstract]
BUSINESS SEGMENT INFORMATION	BUSINESS SEGMENT INFORMATION Our internal management financial reporting consists of three business divisions: (i) Beer, (ii) Wine and Spirits, and (iii) Canopy and we report our operating results in four segments: (i) Beer, (ii) Wine and Spirits, (iii) Corporate Operations and Other, and (iv) Canopy. The Canopy Equity Method Investment makes up the Canopy segment. In the Beer segment, our portfolio consists of high-end imported beer brands, craft beer, and ABAs. We have an exclusive perpetual brand license to import, market, and sell our Mexican beer portfolio in the U.S. In the Wine and Spirits segment, we sell a portfolio that includes higher-margin, higher-growth wine brands complemented by certain higher-end spirits brands. Amounts included in the Corporate Operations and Other segment consist of costs of executive management, corporate development, corporate finance, corporate growth and strategy, human resources, internal audit, investor relations, legal, public relations, and information technology, as well as our investments made through our corporate venture capital function . All costs included in the Corporate Operations and Other segment are general costs that are applicable to the consolidated group and are, therefore, not allocated to the other reportable segments. All costs reported within the Corporate Operations and Other segment are not included in our CODM’s evaluation of the operating income (loss) performance of the other reportable segments. The business segments reflect how our operations are managed, how resources are allocated, how operating performance is evaluated by senior management, and the structure of our internal financial reporting. Long-lived tangible assets and total asset information by segment is not provided to, or reviewed by, our CODM as it is not used to make strategic decisions, allocate resources, or assess performance. In addition, management excludes Comparable Adjustments from its evaluation of the results of each operating segment as these Comparable Adjustments are not reflective of core operations of the segments. Segment operating performance and the incentive compensation of segment management are evaluated based on core segment operating income (loss) which do not include the impact of these Comparable Adjustments. We evaluate segment operating performance based on operating income (loss) of the respective business units. Comparable Adjustments that impacted comparability in our segment operating income (loss) for each period are as follows: For the Six Months For the Three Months 2021 2020 2021 2020 (in millions) Cost of product sold Net gain (loss) on undesignated commodity derivative contracts $ 48.1 $ (9.4) $ 24.0 $ 17.4 Flow through of inventory step-up 0.1 (0.1) 0.1 (0.1) Settlements of undesignated commodity derivative contracts (12.3) 23.6 (8.9) 13.2 Strategic business development costs (2.6) (25.1) — (0.8) COVID-19 incremental costs — (5.5) — (0.9) Total cost of product sold 33.3 (16.5) 15.2 28.8 Selling, general, and administrative expenses Restructuring and other strategic business development costs (0.1) (8.9) 0.8 (5.8) Net gain (loss) on foreign currency derivative contracts — (8.0) — — COVID-19 incremental costs — (4.6) — 1.9 Transaction, integration, and other acquisition-related costs — (3.9) — (3.1) Other gains (losses) (1) (6.1) 4.5 (7.1) (2.9) Total selling, general, and administrative expenses (6.2) (20.9) (6.3) (9.9) Impairment of brewery construction in progress (665.9) — — — Impairment of assets held for sale — (3.0) — 22.0 Comparable Adjustments, Operating income (loss) $ (638.8) $ (40.4) $ 8.9 $ 40.9 (1) Includes the following: For the Six Months For the Three Months 2021 2020 2021 2020 Transition services agreements activity $ (7.2) $ — $ (4.9) $ — Gain on vineyard sale $ — $ 8.8 $ — $ — Gain (loss) on sale of the Black Velvet Canadian Whisky business $ — $ (3.6) $ — $ (3.0) The accounting policies of the segments are the same as those described for the Company in Note 1 of our consolidated financial statements included in our 2021 Annual Report. Amounts included below for the Canopy segment represent 100% of Canopy’s reported results on a two-month lag, prepared in accordance with U.S. GAAP , and converted from Canadian dollars to U.S. dollars. Although we own less than 100% of the outstanding shares of Canopy, 100% of the Canopy results are included in the information below and subsequently eliminated in order to reconcile to our consolidated financial statements . Segment information is as follows: For the Six Months For the Three Months 2021 2020 2021 2020 (in millions) Beer Net sales $ 3,433.3 $ 3,020.0 $ 1,861.3 $ 1,635.9 Segment operating income (loss) $ 1,366.1 $ 1,273.5 $ 693.0 $ 695.7 Capital expenditures $ 295.8 $ 198.5 $ 210.0 $ 90.2 Depreciation and amortization $ 118.5 $ 92.9 $ 64.5 $ 48.6 Wine and Spirits Net sales: Wine $ 844.9 $ 1,044.5 $ 447.2 $ 544.9 Spirits 119.4 159.3 62.6 79.6 Net sales $ 964.3 $ 1,203.8 $ 509.8 $ 624.5 Segment operating income (loss) $ 204.4 $ 325.5 $ 100.2 $ 161.5 Income (loss) from unconsolidated investments $ 0.2 $ 1.1 $ (1.1) $ (2.4) Equity method investments (1) $ 126.7 $ 119.2 $ 126.7 $ 119.2 Capital expenditures $ 54.0 $ 37.4 $ 28.3 $ 27.9 Depreciation and amortization $ 39.6 $ 45.3 $ 19.7 $ 22.8 Corporate Operations and Other Segment operating income (loss) $ (117.4) $ (109.9) $ (62.9) $ (59.4) Income (loss) from unconsolidated investments $ (0.8) $ 0.5 $ (0.2) $ 0.3 Equity method investments $ 112.1 $ 99.6 $ 112.1 $ 99.6 Capital expenditures $ 3.6 $ 41.9 $ 1.2 $ 15.5 Depreciation and amortization $ 6.5 $ 7.2 $ 3.2 $ 1.6 Canopy Net sales $ 228.1 $ 160.0 $ 110.8 $ 79.7 Segment operating income (loss) $ (337.0) $ (857.6) $ (152.8) $ (124.4) Capital expenditures $ 37.5 $ 114.4 $ 16.5 $ 44.4 Depreciation and amortization $ 43.3 $ 54.6 $ 20.4 $ 24.5 Consolidation and Eliminations Net sales $ (228.1) $ (160.0) $ (110.8) $ (79.7) Operating income (loss) $ 337.0 $ 857.6 $ 152.8 $ 124.4 Income (loss) from unconsolidated investments $ (74.2) $ (65.8) $ (29.9) $ (34.1) Equity method investments $ 2,580.2 $ 2,713.1 $ 2,580.2 $ 2,713.1 Capital expenditures $ (37.5) $ (114.4) $ (16.5) $ (44.4) Depreciation and amortization $ (43.3) $ (54.6) $ (20.4) $ (24.5) Comparable Adjustments Operating income (loss) $ (638.8) $ (40.4) $ 8.9 $ 40.9 Income (loss) from unconsolidated investments $ (1,295.2) $ (587.7) $ (439.6) $ (44.5) For the Six Months For the Three Months 2021 2020 2021 2020 (in millions) Consolidated Net sales $ 4,397.6 $ 4,223.8 $ 2,371.1 $ 2,260.4 Operating income (loss) $ 814.3 $ 1,448.7 $ 739.2 $ 838.7 Income (loss) from unconsolidated investments (2) $ (1,370.0) $ (651.9) $ (470.8) $ (80.7) Equity method investments (1) $ 2,819.0 $ 2,931.9 $ 2,819.0 $ 2,931.9 Capital expenditures $ 353.4 $ 277.8 $ 239.5 $ 133.6 Depreciation and amortization $ 164.6 $ 145.4 $ 87.4 $ 73.0 (1) Equity method investments balance at August 31, 2020, exclude amounts reclassified to assets held for sale. (2) Income (loss) from unconsolidated investments consists of: For the Six Months For the Three Months 2021 2020 2021 2020 (in millions) Unrealized net gain (loss) on securities measured at fair value $ (1,335.1) $ (244.9) $ (590.0) $ (47.6) Equity in earnings (losses) from Canopy and related activities (35.3) (408.6) 120.5 (31.0) Equity in earnings (losses) from other equity method investees 0.4 1.6 (1.3) (2.1) $ (1,370.0) $ (651.9) $ (470.8) $ (80.7)

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Aug. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of presentation	We have prepared the Financial Statements, without audit, pursuant to the rules and regulations of the SEC applicable to quarterly reporting on Form 10-Q and reflect, in our opinion, all adjustments necessary to present fairly our financial information. All such adjustments are of a normal recurring nature. Certain information and footnote disclosures normally included in financial statements, prepared in accordance with generally accepted accounting principles, have been condensed or omitted as permitted by such rules and regulations. These Financial Statements should be read in conjunction with the consolidated financial statements and related notes included in the 2021 Annual Report. Results of operations for interim periods are not necessarily indicative of annual results.

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Aug. 31, 2021
Inventory Disclosure [Abstract]
Components of inventories	Elements of cost include materials, labor, and overhead and consist of the following: August 31, February 28, (in millions) Raw materials and supplies $ 166.0 $ 151.1 In-process inventories 703.5 735.9 Finished case goods 469.5 404.1 $ 1,339.0 $ 1,291.1

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	6 Months Ended
	Aug. 31, 2021
Business Combinations [Abstract]
Components of gain (loss) on sale of business	The following table summarizes the net gain recognized in connection with this divestiture: (in millions) Cash received from buyer $ 272.0 Net assets sold (206.4) Contract termination (4.0) Direct costs to sell (3.2) Gain on sale of business $ 58.4 (in millions) Cash received from buyer $ 667.4 Net assets sold (669.1) Transition services agreements (13.0) Direct costs to sell (8.4) AOCI reclassification adjustments, primarily foreign currency translation (5.1) Other (5.2) Loss on sale of business $ (33.4)

Derivative Instruments (Tables)

Derivative Instruments (Tables)	6 Months Ended
	Aug. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Aggregate notional value of outstanding derivative instruments	The aggregate notional value of outstanding derivative instruments is as follows: August 31, February 28, (in millions) Derivative instruments designated as hedging instruments Foreign currency contracts $ 1,378.3 $ 1,558.0 Derivative instruments not designated as hedging instruments Foreign currency contracts $ 549.6 $ 704.7 Commodity derivative contracts $ 187.0 $ 221.6
Fair value and location of derivative instruments on our balance sheets	The estimated fair value and location of our derivative instruments on our balance sheets are as follows (see Note 5): Assets Liabilities August 31, February 28, August 31, February 28, (in millions) Derivative instruments designated as hedging instruments Foreign currency contracts: Prepaid expenses and other $ 37.0 $ 32.0 Other accrued expenses and liabilities $ 2.7 $ 3.5 Other assets $ 31.3 $ 41.3 Deferred income taxes and other liabilities $ 4.9 $ 2.7 Assets Liabilities August 31, February 28, August 31, February 28, (in millions) Derivative instruments not designated as hedging instruments Foreign currency contracts: Prepaid expenses and other $ 1.7 $ 3.3 Other accrued expenses and liabilities $ 3.0 $ 3.5 Commodity derivative contracts: Prepaid expenses and other $ 33.7 $ 13.4 Other accrued expenses and liabilities $ 0.3 $ 3.9 Other assets $ 20.0 $ 7.8 Deferred income taxes and other liabilities $ 0.1 $ 1.4
Effect of derivative instruments on our results of operations and OCI	The principal effect of our derivative instruments designated in cash flow hedging relationships on our results of operations, as well as OCI, net of income tax effect, is as follows: Derivative Instruments in Net Location of Net Gain (Loss) Net (in millions) For the Six Months Ended August 31, 2021 Foreign currency contracts $ 11.7 Sales $ (0.4) Cost of product sold 21.6 Treasury lock contracts — Interest expense (1.5) $ 11.7 $ 19.7 For the Six Months Ended August 31, 2020 Foreign currency contracts $ (156.0) Sales $ 0.9 Cost of product sold (27.2) Interest rate swap contracts (0.6) Interest expense (1.1) Treasury lock contracts (16.1) Interest expense (0.7) $ (172.7) $ (28.1) For the Three Months Ended August 31, 2021 Foreign currency contracts $ (7.6) Sales $ (0.2) Cost of product sold 12.6 Treasury lock contracts — Interest expense (0.9) $ (7.6) $ 11.5 For the Three Months Ended August 31, 2020 Foreign currency contracts $ 37.4 Sales $ 0.5 Cost of product sold (18.7) Interest rate swap contracts (0.3) Interest expense (0.7) Treasury lock contracts — Interest expense (0.7) $ 37.1 $ (19.6) The effect of our undesignated derivative instruments on our results of operations is as follows: Derivative Instruments Not Location of Net Gain (Loss) Net (in millions) For the Six Months Ended August 31, 2021 Commodity derivative contracts Cost of product sold $ 48.1 Foreign currency contracts Selling, general, and administrative expenses (8.4) $ 39.7 For the Six Months Ended August 31, 2020 Commodity derivative contracts Cost of product sold $ (9.4) Foreign currency contracts Selling, general, and administrative expenses (20.0) $ (29.4) For the Three Months Ended August 31, 2021 Commodity derivative contracts Cost of product sold $ 24.0 Foreign currency contracts Selling, general, and administrative expenses (6.2) $ 17.8 For the Three Months Ended August 31, 2020 Commodity derivative contracts Cost of product sold $ 17.4 Foreign currency contracts Selling, general, and administrative expenses 5.9 $ 23.3

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Aug. 31, 2021
Fair Value Disclosures [Abstract]
Fair value measurement inputs	The inputs used to estimate the fair value of the November 2018 Canopy Warrants are as follows (1) (2) : August 31, 2021 February 28, 2021 Tranche A Warrants (3) Tranche B Warrants (4) Tranche A Warrants (3) Tranche B Warrants (4) Exercise price (5) C$ 50.40 C$ 76.68 C$ 50.40 C$ 76.68 Valuation date stock price (6) C$ 21.71 C$ 21.71 C$ 41.90 C$ 41.90 Remaining contractual term (7) 2.2 years 5.2 years 2.7 years 5.7 years Expected volatility (8) 65.0 % 65.0 % 70.0 % 70.0 % Risk-free interest rate (9) 0.4 % 0.8 % 0.5 % 1.1 % Expected dividend yield (10) 0.0 % 0.0 % 0.0 % 0.0 % (1) The exercise price for the Tranche C Warrants is based on the VWAP Exercise Price. The Tranche C Warrants are not included in the table as there is no fair value assigned. (2) In connection with the Acreage Transaction, we obtained other rights which include a share repurchase credit. If Canopy has not purchased the lesser of 27,378,866 Canopy common shares, or C$1,583.0 million worth of Canopy common shares for cancellation between April 18, 2019, and two-years after the full exercise of the Tranche A Warrants, we will be credited an amount that will reduce the aggregate exercise price otherwise payable upon each exercise of the Tranche B Warrants and Tranche C Warrants. The credit will be an amount equal to the difference between C$1,583.0 million and the actual price paid by Canopy in purchasing its common shares for cancellation. The likelihood of receiving the share repurchase credit if we were to fully exercise the Tranche A Warrants is remote, therefore, no fair value has been assigned. (3) The fair value is estimated using the Black-Scholes option-pricing model (Level 2 fair value measurement). (4) The fair value is estimated using Monte Carlo simulations (Level 2 fair value measurement). (5) Based on the exercise price from the applicable underlying agreements. (6) Based on the closing market price for Canopy common stock on the TSX as of the applicable date. (7) Based on the expiration date of the warrants. (8) Based on consideration of historical and/or implied volatility levels of the underlying equity security and limited consideration of historical peer group volatility levels. (9) Based on the implied yield currently available on Canadian Treasury zero coupon issues with a remaining term equal to the expiration date of the applicable warrants. (10) Based on historical dividend levels. The inputs used to estimate the fair value of the Canopy Debt Securities are as follows: August 31, February 28, Conversion price (1) C$ 48.17 C$ 48.17 Valuation date stock price (2) C$ 21.71 C$ 41.90 Remaining term (3) 1.9 years 2.4 years Expected volatility (4) 65.0 % 57.6 % Risk-free interest rate (5) 0.4 % 0.4 % Expected dividend yield (6) 0.0 % 0.0 % (1) Based on the rate which the Canopy Debt Securities may be converted into equity shares, or the equivalent amount of cash, at the option of the issuer. (2) Based on the closing market price for Canopy common stock on the TSX as of the applicable date. (3) Based on the contractual maturity date of the notes. (4) Based on consideration of historical and/or implied volatility levels of the underlying equity security, adjusted for certain risks associated with debt securities, as appropriate. (5) Based on the implied yield currently available on Canadian Treasury zero coupon issues with a term equal to the remaining contractual term of the Canopy Debt Securities. (6) Based on historical dividend levels.
Financial assets and liabilities measured at estimated fair value on a recurring basis	The following table presents our financial assets and liabilities measured at estimated fair value on a recurring basis: Fair Value Measurements Using Quoted Significant Significant Total (in millions) August 31, 2021 Assets: Foreign currency contracts $ — $ 70.0 $ — $ 70.0 Commodity derivative contracts $ — $ 53.7 $ — $ 53.7 Equity securities (1) $ — $ 332.7 $ — $ 332.7 Canopy Debt Securities (1) $ — $ 153.8 $ — $ 153.8 Liabilities: Foreign currency contracts $ — $ 10.6 $ — $ 10.6 Commodity derivative contracts $ — $ 0.4 $ — $ 0.4 February 28, 2021 Assets: Foreign currency contracts $ — $ 76.6 $ — $ 76.6 Commodity derivative contracts $ — $ 21.2 $ — $ 21.2 Equity securities (1) $ — $ 1,639.7 $ — $ 1,639.7 Canopy Debt Securities (1) $ — $ 176.3 $ — $ 176.3 Liabilities: Foreign currency contracts $ — $ 9.7 $ — $ 9.7 Commodity derivative contracts $ — $ 5.3 $ — $ 5.3 (1) Unrealized net gain (loss) from the changes in fair value of our securities measured at fair value recognized in income (loss) from unconsolidated investments, are as follows: For the Six Months For the Three Months 2021 2020 2021 2020 (in millions) November 2017 Canopy Warrants (i) $ — $ (61.8) $ — $ — November 2018 Canopy Warrants (1,307.0) (180.6) (570.8) (57.6) Canopy Debt Securities (28.1) (2.5) (19.2) 10.0 $ (1,335.1) $ (244.9) $ (590.0) $ (47.6) (i) In May 2020, we exercised warrants obtained in November 2017 which gave us the option to purchase 18.9 million common shares of Canopy at an exercise price of C$12.98 per warrant share for C$245.0 million, or $173.9 million.
Assets and liabilities measured at estimated fair value on a nonrecurring basis	The following table presents our assets and liabilities measured at estimated fair value on a nonrecurring basis for which an impairment assessment was performed for the periods presented: Fair Value Measurements Using Quoted Significant Significant Total Losses (in millions) For the Six Months Ended August 31, 2021 Long-lived assets $ — $ — $ 20.0 $ 665.9 For the Six Months Ended August 31, 2020 Long-lived assets held for sale $ — $ — $ 795.2 $ 3.0

Goodwill (Tables)

Goodwill (Tables)	6 Months Ended
	Aug. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in the carrying amount of goodwill	The changes in the carrying amount of goodwill are as follows: Beer Wine and Spirits Consolidated (in millions) Balance, February 29, 2020 $ 5,163.4 $ 2,593.7 $ 7,757.1 Purchase accounting allocations (1) — 14.3 14.3 Foreign currency translation adjustments (38.7) 15.9 (22.8) Reclassified from assets held for sale (2) 0.9 44.0 44.9 Balance, February 28, 2021 5,125.6 2,667.9 7,793.5 Purchase accounting allocations (1) — 0.9 0.9 Foreign currency translation adjustments 6.8 (2.3) 4.5 Balance, August 31, 2021 $ 5,132.4 $ 2,666.5 $ 7,798.9 (1) Purchase accounting allocations associated with the acquisition of Empathy Wines. (2) Primarily in connection with the Wine and Spirits Divestitures, goodwill associated with the businesses being sold was reclassified from assets held for sale based on the changes to relative fair values of the portion of the business being sold and the remaining wine and spirits and beer portfolios. The relative fair values were determined using the income approach based on assumptions, including projected revenue growth rates, terminal growth rate, and discount rate and other projected financial information.

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
	Aug. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Major components of intangible assets, Amortizable intangible assets	The major components of intangible assets are as follows: August 31, 2021 February 28, 2021 Gross Net Gross Net (in millions) Amortizable intangible assets Customer relationships $ 87.2 $ 24.5 $ 87.2 $ 26.3 Other 21.0 0.2 21.1 0.2 Total $ 108.2 24.7 $ 108.3 26.5 Nonamortizable intangible assets Trademarks 2,705.0 2,705.6 Total intangible assets $ 2,729.7 $ 2,732.1
Major components of intangible assets, Nonamortizable intangible assets	The major components of intangible assets are as follows: August 31, 2021 February 28, 2021 Gross Net Gross Net (in millions) Amortizable intangible assets Customer relationships $ 87.2 $ 24.5 $ 87.2 $ 26.3 Other 21.0 0.2 21.1 0.2 Total $ 108.2 24.7 $ 108.3 26.5 Nonamortizable intangible assets Trademarks 2,705.0 2,705.6 Total intangible assets $ 2,729.7 $ 2,732.1

Equity Method Investments (Tabl

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: August 31, 2021 February 28, 2021 Carrying Value Ownership Percentage Carrying Value Ownership Percentage (in millions) Canopy Equity Method Investment (1) (2) $ 2,580.2 36.2 % $ 2,578.8 38.1 % Other equity method investments 238.8 20%-50% 209.6 20%-50% $ 2,819.0 $ 2,788.4 (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: Common Shares Purchase Price (in millions) November 2017 Canopy Investment 18.9 $ 130.1 November 2018 Canopy Investment 104.5 2,740.3 May 2020 Canopy Investment 18.9 173.9 142.3 $ 3,044.3 For the Six Months For the Three Months 2021 2020 2021 2020 (in millions) Equity in earnings (losses) from Canopy and related activities $ (35.3) $ (408.6) $ 120.5 $ (31.0) 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. For the Six Months For the Three Months 2021 2020 2021 2020 (in millions) Net sales $ 228.1 $ 160.0 $ 110.8 $ 79.7 Gross profit (loss) $ 29.9 $ (52.6) $ 22.2 $ 4.7 Net income (loss) $ (169.7) $ (1,066.2) $ 317.4 $ (92.6) Net income (loss) attributable to Canopy $ (233.5) $ (1,031.7) $ 319.4 $ (78.3)

Borrowings (Tables)

Borrowings (Tables)	6 Months Ended
	Aug. 31, 2021
Debt Disclosure [Abstract]
Borrowings	Borrowings consist of the following: August 31, 2021 February 28, Current Long-term Total Total (in millions) Short-term borrowings Commercial paper $ 486.0 $ — $ 486.0 $ — Long-term debt Term loan credit facilities $ — $ 300.0 $ 300.0 $ 454.4 Senior notes — 9,768.3 9,768.3 9,972.4 Other 5.8 13.4 19.2 15.5 $ 5.8 $ 10,081.7 $ 10,087.5 $ 10,442.3 As of August 31, 2021, aggregate credit facilities under the 2020 Credit Agreement and the June 2021 Term Credit Agreement consist of the following: Amount Maturity (in millions) 2020 Credit Agreement Revolving credit facility (1) (2) $ 2,000.0 Sept 14, 2023 June 2021 Term Credit Agreement 2019 Five-Year Term Facility (1) (3) $ 491.3 Jun 28, 2024 (1) Contractual interest rate varies based on our debt rating (as defined in the respective agreement) and is a function of LIBOR plus a margin, or the base rate plus a margin, or, in certain circumstances where LIBOR cannot be adequately ascertained or available, an alternative benchmark rate plus a margin. (2) We and/or CB International are the borrower under the $2,000.0 million revolving credit facility. Includes a sub-facility for letters of credit of up to $200.0 million. (3) We are the borrower under the 2019 Five-Year Term Facility. As of August 31, 2021, information with respect to borrowings under the 2020 Credit Agreement and the June 2021 Term Credit Agreement is as follows: Outstanding Interest LIBOR Outstanding Remaining borrowing capacity (1) (in millions) 2020 Credit Agreement Revolving credit facility $ — — % — % $ 12.2 $ 1,501.8 June 2021 Term Credit Agreement 2019 Five-Year Term Facility (2) (3) $ 300.0 0.7 % 0.63 % (1) Net of outstanding revolving credit facility borrowings, outstanding letters of credit under the 2020 Credit Agreement, and outstanding borrowings under our commercial paper program of $486.0 million (excluding unamortized discount) (see “Commercial paper program” below). (2) Outstanding term loan facilities borrowings are net of unamortized debt issuance costs. (3) Outstanding borrowings reflect a $142.1 million partial prepayment of the 2019 Five-Year Term Facility under our June 2021 Term Credit Agreement.

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Aug. 31, 2021
Equity [Abstract]
Number of shares of common stock issued and treasury stock, and associated share activity	The number of shares of common stock issued and treasury stock, and associated share activity, are as follows: Common Stock Treasury Stock Class A Class B Class 1 Class A Class B Balance at February 28, 2021 187,204,280 28,270,288 612,936 17,070,550 5,005,800 Share repurchases — — — 1,696,722 — Conversion of shares 43,441 (42,810) (631) — — Exercise of stock options — — 781 (116,058) — Vesting of restricted stock units (1) — — — (66,157) — Vesting of performance share units (1) — — — (7,934) — Balance at May 31, 2021 187,247,721 28,227,478 613,086 18,577,123 5,005,800 Share repurchases — — — 4,079,651 — Exercise of stock options — — 1,267 (34,736) — Employee stock purchases — — — (28,768) — Vesting of restricted stock units (1) — — — (5,256) — Balance at August 31, 2021 187,247,721 28,227,478 614,353 22,588,014 5,005,800 Balance at February 29, 2020 186,090,745 28,300,206 1,692,227 18,256,826 5,005,800 Conversion of shares 2,532 (2,532) — — — Exercise of stock options — — 2,576 (44,593) — Vesting of restricted stock units (1) — — — (76,019) — Vesting of performance share units (1) — — — (17,335) — Balance at May 31, 2020 186,093,277 28,297,674 1,694,803 18,118,879 5,005,800 Conversion of shares 684,808 (11,113) (673,695) — — Exercise of stock options — — — (781,075) — Employee stock purchases — — — (32,867) — Vesting of restricted stock units (1) — — — (3,514) — Balance at August 31, 2020 186,778,085 28,286,561 1,021,108 17,301,423 5,005,800 (1) Net of the following shares withheld to satisfy tax withholding requirements: For the Three For the Three For the Six 2021 Restricted Stock Units 36,048 165 36,213 Performance Share Units 4,565 — 4,565 2020 Restricted Stock Units 37,506 187 37,693 Performance Share Units 9,433 — 9,433
Summary of share repurchase activity	As of October 6, 2021, total shares repurchased under the 2018 Authorization and the 2021 Authorization are as follows: Class A Common Shares Repurchase Dollar Value Number of (in millions, except share data) 2018 Authorization $ 3,000.0 $ 2,436.4 11,076,620 2021 Authorization $ 2,000.0 $ — —

Net Income (Loss) Per Common _2

Net Income (Loss) Per Common Share Attributable to CBI (Tables)	6 Months Ended
	Aug. 31, 2021
Earnings Per Share [Abstract]
Basic and diluted net income (loss) per common share attributable to CBI	The computation of basic and diluted net income (loss) per common share is as follows: For the Six Months Ended August 31, 2021 August 31, 2020 Common Stock Common Stock Class A Class B Class A Class B (in millions, except per share data) Net income (loss) attributable to CBI allocated – $ (805.8) $ (100.8) $ 297.3 $ 36.9 Conversion of Class B common shares into Class A common shares — — 36.9 — Effect of stock-based awards on allocated net income (loss) — — — — Net income (loss) attributable to CBI allocated – diluted $ (805.8) $ (100.8) $ 334.2 $ 36.9 Weighted average common shares outstanding – 169.025 23.234 169.841 23.289 Conversion of Class B common shares into Class A common shares (1) — — 23.289 — Stock-based awards, primarily stock options (1) — — 1.832 — Weighted average common shares outstanding – diluted 169.025 23.234 194.962 23.289 Net income (loss) per common share attributable to CBI – $ (4.77) $ (4.34) $ 1.74 $ 1.58 Net income (loss) per common share attributable to CBI – diluted $ (4.77) $ (4.34) $ 1.71 $ 1.58 For the Three Months Ended August 31, 2021 August 31, 2020 Common Stock Common Stock Class A Class B Class A Class B (in millions, except per share data) Net income (loss) attributable to CBI allocated – basic $ 1.3 $ 0.2 $ 455.5 $ 56.6 Conversion of Class B common shares into Class A common shares 0.2 — 56.6 — Effect of stock-based awards on allocated net income (loss) — — — (0.4) Net income (loss) attributable to CBI allocated – diluted $ 1.5 $ 0.2 $ 512.1 $ 56.2 Weighted average common shares outstanding – basic 167.447 23.222 170.078 23.284 Conversion of Class B common shares into Class A common shares 23.222 — 23.284 — Stock-based awards, primarily stock options 1.861 — 1.780 — Weighted average common shares outstanding – diluted 192.530 23.222 195.142 23.284 Net income (loss) per common share attributable to CBI – basic $ 0.01 $ 0.01 $ 2.68 $ 2.43 Net income (loss) per common share attributable to CBI – diluted $ 0.01 $ 0.01 $ 2.62 $ 2.42 (1) For the six months ended August 31, 2021, we have excluded the following weighted average common shares outstanding from the calculation of diluted net income (loss) per common share, as the effect of including these would have been anti-dilutive, in millions: Class B Convertible Common Stock 23.234 Stock-based awards, primarily stock options 1.936

Comprehensive Income (Loss) A_2

Comprehensive Income (Loss) Attributable to CBI (Tables)	6 Months Ended
	Aug. 31, 2021
Equity [Abstract]
Reconciliation of net income (loss) attributable to CBI to comprehensive income (loss) attributable to CBI	The reconciliation of net income (loss) attributable to CBI to comprehensive income (loss) attributable to CBI is as follows: Before Tax Tax (Expense) Net of Tax (in millions) For the Six Months Ended August 31, 2021 Net income (loss) attributable to CBI $ (906.6) Other comprehensive income (loss) attributable to CBI: Foreign currency translation adjustments: Net gain (loss) $ 73.0 $ — 73.0 Reclassification adjustments — — — Net gain (loss) recognized in other comprehensive income (loss) 73.0 — 73.0 Unrealized gain (loss) on cash flow hedges: Net derivative gain (loss) 19.3 (8.5) 10.8 Reclassification adjustments (20.1) 1.7 (18.4) Net gain (loss) recognized in other comprehensive income (loss) (0.8) (6.8) (7.6) Before Tax Tax (Expense) Net of Tax (in millions) Pension/postretirement adjustments: Net actuarial gain (loss) (0.1) — (0.1) Reclassification adjustments — — — Net gain (loss) recognized in other comprehensive income (loss) (0.1) — (0.1) Share of OCI of equity method investments Net gain (loss) (26.1) 5.9 (20.2) Reclassification adjustments — — — Net gain (loss) recognized in other comprehensive income (loss) (26.1) 5.9 (20.2) Other comprehensive income (loss) attributable to CBI $ 46.0 $ (0.9) 45.1 Comprehensive income (loss) attributable to CBI $ (861.5) For the Six Months Ended August 31, 2020 Net income (loss) attributable to CBI $ 334.2 Other comprehensive income (loss) attributable to CBI: Foreign currency translation adjustments: Net gain (loss) $ (449.0) $ — (449.0) Reclassification adjustments — — — Net gain (loss) recognized in other comprehensive income (loss) (449.0) — (449.0) Unrealized gain (loss) on cash flow hedges: Net derivative gain (loss) (163.4) 3.2 (160.2) Reclassification adjustments 28.0 (1.9) 26.1 Net gain (loss) recognized in other comprehensive income (loss) (135.4) 1.3 (134.1) Pension/postretirement adjustments: Net actuarial gain (loss) (0.2) — (0.2) Reclassification adjustments — — — Net gain (loss) recognized in other comprehensive income (loss) (0.2) — (0.2) Share of OCI of equity method investments Net gain (loss) 34.7 (0.6) 34.1 Reclassification adjustments — — — Net gain (loss) recognized in other comprehensive income (loss) 34.7 (0.6) 34.1 Other comprehensive income (loss) attributable to CBI $ (549.9) $ 0.7 (549.2) Comprehensive income (loss) attributable to CBI $ (215.0) For the Three Months Ended August 31, 2021 Net income (loss) attributable to CBI $ 1.5 Other comprehensive income (loss) attributable to CBI: Foreign currency translation adjustments: Net gain (loss) $ (30.0) $ — (30.0) Reclassification adjustments — — — Net gain (loss) recognized in other comprehensive income (loss) (30.0) — (30.0) Before Tax Tax (Expense) Net of Tax (in millions) Unrealized gain (loss) on cash flow hedges: Net derivative gain (loss) (8.2) 1.3 (6.9) Reclassification adjustments (12.3) 1.5 (10.8) Net gain (loss) recognized in other comprehensive income (loss) (20.5) 2.8 (17.7) Pension/postretirement adjustments: Net actuarial gain (loss) 0.1 — 0.1 Reclassification adjustments — — — Net gain (loss) recognized in other comprehensive income (loss) 0.1 — 0.1 Share of OCI of equity method investments Net gain (loss) (8.0) 1.8 (6.2) Reclassification adjustments — — — Net gain (loss) recognized in other comprehensive income (loss) (8.0) 1.8 (6.2) Other comprehensive income (loss) attributable to CBI $ (58.4) $ 4.6 (53.8) Comprehensive income (loss) attributable to CBI $ (52.3) For the Three Months Ended August 31, 2020 Net income (loss) attributable to CBI $ 512.1 Other comprehensive income (loss) attributable to CBI: Foreign currency translation adjustments: Net gain (loss) $ 170.9 $ — 170.9 Reclassification adjustments — — — Net gain (loss) recognized in other comprehensive income (loss) 170.9 — 170.9 Unrealized gain (loss) on cash flow hedges: Net derivative gain (loss) 37.1 (2.1) 35.0 Reclassification adjustments 20.3 (1.4) 18.9 Net gain (loss) recognized in other comprehensive income (loss) 57.4 (3.5) 53.9 Pension/postretirement adjustments: Net actuarial gain (loss) (0.7) 0.2 (0.5) Reclassification adjustments — — — Net gain (loss) recognized in other comprehensive income (loss) (0.7) 0.2 (0.5) Share of OCI of equity method investments Net gain (loss) (17.8) 0.4 (17.4) Reclassification adjustments — — — Net gain (loss) recognized in other comprehensive income (loss) (17.8) 0.4 (17.4) Other comprehensive income (loss) attributable to CBI $ 209.8 $ (2.9) 206.9 Comprehensive income (loss) attributable to CBI $ 719.0
Accumulated other comprehensive income (loss), net of income tax effect	Accumulated other comprehensive income (loss), net of income tax effect, includes the following components: Foreign Unrealized Pension/ Share of OCI of Accumulated (in millions) Balance, February 28, 2021 $ (392.5) $ 43.5 $ (4.2) $ 17.7 $ (335.5) Other comprehensive income (loss): Other comprehensive income (loss) before reclassification adjustments 73.0 10.8 (0.1) (20.2) 63.5 Amounts reclassified from accumulated other comprehensive income (loss) — (18.4) — — (18.4) Other comprehensive income (loss) 73.0 (7.6) (0.1) (20.2) 45.1 Balance, August 31, 2021 $ (319.5) $ 35.9 $ (4.3) $ (2.5) $ (290.4)

Business Segment Information (T

Business Segment Information (Tables)	6 Months Ended
	Aug. 31, 2021
Segment Reporting [Abstract]
Comparable adjustments	Comparable Adjustments that impacted comparability in our segment operating income (loss) for each period are as follows: For the Six Months For the Three Months 2021 2020 2021 2020 (in millions) Cost of product sold Net gain (loss) on undesignated commodity derivative contracts $ 48.1 $ (9.4) $ 24.0 $ 17.4 Flow through of inventory step-up 0.1 (0.1) 0.1 (0.1) Settlements of undesignated commodity derivative contracts (12.3) 23.6 (8.9) 13.2 Strategic business development costs (2.6) (25.1) — (0.8) COVID-19 incremental costs — (5.5) — (0.9) Total cost of product sold 33.3 (16.5) 15.2 28.8 Selling, general, and administrative expenses Restructuring and other strategic business development costs (0.1) (8.9) 0.8 (5.8) Net gain (loss) on foreign currency derivative contracts — (8.0) — — COVID-19 incremental costs — (4.6) — 1.9 Transaction, integration, and other acquisition-related costs — (3.9) — (3.1) Other gains (losses) (1) (6.1) 4.5 (7.1) (2.9) Total selling, general, and administrative expenses (6.2) (20.9) (6.3) (9.9) Impairment of brewery construction in progress (665.9) — — — Impairment of assets held for sale — (3.0) — 22.0 Comparable Adjustments, Operating income (loss) $ (638.8) $ (40.4) $ 8.9 $ 40.9 (1) Includes the following: For the Six Months For the Three Months 2021 2020 2021 2020 Transition services agreements activity $ (7.2) $ — $ (4.9) $ — Gain on vineyard sale $ — $ 8.8 $ — $ — Gain (loss) on sale of the Black Velvet Canadian Whisky business $ — $ (3.6) $ — $ (3.0)
Segment information	Segment information is as follows: For the Six Months For the Three Months 2021 2020 2021 2020 (in millions) Beer Net sales $ 3,433.3 $ 3,020.0 $ 1,861.3 $ 1,635.9 Segment operating income (loss) $ 1,366.1 $ 1,273.5 $ 693.0 $ 695.7 Capital expenditures $ 295.8 $ 198.5 $ 210.0 $ 90.2 Depreciation and amortization $ 118.5 $ 92.9 $ 64.5 $ 48.6 Wine and Spirits Net sales: Wine $ 844.9 $ 1,044.5 $ 447.2 $ 544.9 Spirits 119.4 159.3 62.6 79.6 Net sales $ 964.3 $ 1,203.8 $ 509.8 $ 624.5 Segment operating income (loss) $ 204.4 $ 325.5 $ 100.2 $ 161.5 Income (loss) from unconsolidated investments $ 0.2 $ 1.1 $ (1.1) $ (2.4) Equity method investments (1) $ 126.7 $ 119.2 $ 126.7 $ 119.2 Capital expenditures $ 54.0 $ 37.4 $ 28.3 $ 27.9 Depreciation and amortization $ 39.6 $ 45.3 $ 19.7 $ 22.8 Corporate Operations and Other Segment operating income (loss) $ (117.4) $ (109.9) $ (62.9) $ (59.4) Income (loss) from unconsolidated investments $ (0.8) $ 0.5 $ (0.2) $ 0.3 Equity method investments $ 112.1 $ 99.6 $ 112.1 $ 99.6 Capital expenditures $ 3.6 $ 41.9 $ 1.2 $ 15.5 Depreciation and amortization $ 6.5 $ 7.2 $ 3.2 $ 1.6 Canopy Net sales $ 228.1 $ 160.0 $ 110.8 $ 79.7 Segment operating income (loss) $ (337.0) $ (857.6) $ (152.8) $ (124.4) Capital expenditures $ 37.5 $ 114.4 $ 16.5 $ 44.4 Depreciation and amortization $ 43.3 $ 54.6 $ 20.4 $ 24.5 Consolidation and Eliminations Net sales $ (228.1) $ (160.0) $ (110.8) $ (79.7) Operating income (loss) $ 337.0 $ 857.6 $ 152.8 $ 124.4 Income (loss) from unconsolidated investments $ (74.2) $ (65.8) $ (29.9) $ (34.1) Equity method investments $ 2,580.2 $ 2,713.1 $ 2,580.2 $ 2,713.1 Capital expenditures $ (37.5) $ (114.4) $ (16.5) $ (44.4) Depreciation and amortization $ (43.3) $ (54.6) $ (20.4) $ (24.5) Comparable Adjustments Operating income (loss) $ (638.8) $ (40.4) $ 8.9 $ 40.9 Income (loss) from unconsolidated investments $ (1,295.2) $ (587.7) $ (439.6) $ (44.5) For the Six Months For the Three Months 2021 2020 2021 2020 (in millions) Consolidated Net sales $ 4,397.6 $ 4,223.8 $ 2,371.1 $ 2,260.4 Operating income (loss) $ 814.3 $ 1,448.7 $ 739.2 $ 838.7 Income (loss) from unconsolidated investments (2) $ (1,370.0) $ (651.9) $ (470.8) $ (80.7) Equity method investments (1) $ 2,819.0 $ 2,931.9 $ 2,819.0 $ 2,931.9 Capital expenditures $ 353.4 $ 277.8 $ 239.5 $ 133.6 Depreciation and amortization $ 164.6 $ 145.4 $ 87.4 $ 73.0 (1) Equity method investments balance at August 31, 2020, exclude amounts reclassified to assets held for sale. (2) Income (loss) from unconsolidated investments consists of: For the Six Months For the Three Months 2021 2020 2021 2020 (in millions) Unrealized net gain (loss) on securities measured at fair value $ (1,335.1) $ (244.9) $ (590.0) $ (47.6) Equity in earnings (losses) from Canopy and related activities (35.3) (408.6) 120.5 (31.0) Equity in earnings (losses) from other equity method investees 0.4 1.6 (1.3) (2.1) $ (1,370.0) $ (651.9) $ (470.8) $ (80.7)

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 31, 2021	Aug. 31, 2020	Aug. 31, 2021	Aug. 31, 2020	Feb. 28, 2021
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 166		$ 166		$ 151.1
In-process inventories	703.5		703.5		735.9
Finished case goods	469.5		469.5		404.1
Inventories, Total	1,339		1,339		$ 1,291.1
Inventory obsolescence losses	$ 66.6	$ 3.9	$ 82.6	$ 8.6

Acquisitions and Divestitures -

Acquisitions and Divestitures - Divestitures (Details) - Disposal Group, Not Discontinued Operations - USD ($)	Mar. 02, 2020	Jan. 05, 2021
Wine and Spirits Divestiture
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Maximum potential contingent consideration receivable		$ 250,000,000
Ballast Point Divestiture
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash proceeds	$ 41,100,000

Acquisitions and Divestitures_2

Acquisitions and Divestitures - Summary of Gain Recognized in Connection with Divestiture (Details) - Disposal Group, Not Discontinued Operations - USD ($) $ in Millions	3 Months Ended		6 Months Ended		8 Months Ended
	Aug. 31, 2021	Aug. 31, 2020	Aug. 31, 2021	Aug. 31, 2020	Aug. 31, 2021	Aug. 31, 2021
Paul Masson Divestiture
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash received from buyer						$ 272
Contract termination						(4)
Direct costs to sell						(3.2)
Gain (loss) on sale of business						58.4
Paul Masson Divestiture | Operating Segments | Wines and Spirits
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net assets sold						$ (206.4)
Wine and Spirits Divestitures
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash received from buyer					$ 667.4
Transition services agreements	$ (4.9)	$ 0	$ (7.2)	$ 0	(13)
Direct costs to sell					(8.4)
AOCI reclassification adjustments, primarily foreign currency translation					(5.1)
Other					(5.2)
Gain (loss) on sale of business					(33.4)
Wine and Spirits Divestitures | Operating Segments | Wines and Spirits
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net assets sold					$ (669.1)

Derivative Instruments - Aggreg

Derivative Instruments - Aggregate Notional Value of Outstanding Derivative Instruments (Details) - USD ($) $ in Millions	Aug. 31, 2021	Feb. 28, 2021
Derivative instruments designated as hedging instruments | Foreign currency contracts
Derivative [Line Items]
Aggregate notional value of derivative instruments	$ 1,378.3	$ 1,558
Derivative instruments not designated as hedging instruments | Foreign currency contracts
Derivative [Line Items]
Aggregate notional value of derivative instruments	549.6	704.7
Derivative instruments not designated as hedging instruments | Commodity derivative contracts
Derivative [Line Items]
Aggregate notional value of derivative instruments	$ 187	$ 221.6

Derivative Instruments - Estima

Derivative Instruments - Estimated Fair Value and Location of Derivative Instruments (Details) - USD ($) $ in Millions	Aug. 31, 2021	Feb. 28, 2021
Derivative instruments designated as hedging instruments | Foreign currency contracts | Prepaid expenses and other
Fair value and location of our derivative instruments on our balance sheets
Foreign currency contracts, Assets	$ 37	$ 32
Derivative instruments designated as hedging instruments | Foreign currency contracts | Other accrued expenses and liabilities
Fair value and location of our derivative instruments on our balance sheets
Foreign currency contracts, Liabilities	2.7	3.5
Derivative instruments designated as hedging instruments | Foreign currency contracts | Other assets
Fair value and location of our derivative instruments on our balance sheets
Foreign currency contracts, Assets	31.3	41.3
Derivative instruments designated as hedging instruments | Foreign currency contracts | Deferred income taxes and other liabilities
Fair value and location of our derivative instruments on our balance sheets
Foreign currency contracts, Liabilities	4.9	2.7
Derivative instruments not designated as hedging instruments | Foreign currency contracts | Prepaid expenses and other
Fair value and location of our derivative instruments on our balance sheets
Foreign currency contracts, Assets	1.7	3.3
Derivative instruments not designated as hedging instruments | Foreign currency contracts | Other accrued expenses and liabilities
Fair value and location of our derivative instruments on our balance sheets
Foreign currency contracts, Liabilities	3	3.5
Derivative instruments not designated as hedging instruments | Commodity derivative contracts | Prepaid expenses and other
Fair value and location of our derivative instruments on our balance sheets
Commodity derivative contracts, Assets	33.7	13.4
Derivative instruments not designated as hedging instruments | Commodity derivative contracts | Other accrued expenses and liabilities
Fair value and location of our derivative instruments on our balance sheets
Commodity derivative contracts, Liabilities	0.3	3.9
Derivative instruments not designated as hedging instruments | Commodity derivative contracts | Other assets
Fair value and location of our derivative instruments on our balance sheets
Commodity derivative contracts, Assets	20	7.8
Derivative instruments not designated as hedging instruments | Commodity derivative contracts | Deferred income taxes and other liabilities
Fair value and location of our derivative instruments on our balance sheets
Commodity derivative contracts, Liabilities	$ 0.1	$ 1.4

Derivative Instruments - Effect

Derivative Instruments - Effects of Designated and Undesignated Hedging Instruments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 31, 2021	Aug. 31, 2020	Aug. 31, 2021	Aug. 31, 2020
Effect of our undesignated derivative instruments on our results of operations
Net gain (loss) recognized in income (loss)	$ 17.8	$ 23.3	$ 39.7	$ (29.4)
Foreign currency contracts | Selling, general, and administrative expenses
Effect of our undesignated derivative instruments on our results of operations
Net gain (loss) recognized in income (loss)	(6.2)	5.9	(8.4)	(20)
Commodity derivative contracts | Cost of product sold
Effect of our undesignated derivative instruments on our results of operations
Net gain (loss) recognized in income (loss)	24	17.4	48.1	(9.4)
Cash flow hedging
Effect of our derivative instruments designated in cash flow hedging relationships on our results of operations, net of income tax effect
Net Gain (Loss) Recognized in OCI	(7.6)	37.1	11.7	(172.7)
Net Gain (Loss) Reclassified from AOCI to Income (Loss)	11.5	(19.6)	19.7	(28.1)
Cash flow hedging | Foreign currency contracts
Effect of our derivative instruments designated in cash flow hedging relationships on our results of operations, net of income tax effect
Net Gain (Loss) Recognized in OCI	(7.6)	37.4	11.7	(156)
Cash flow hedging | Foreign currency contracts | Sales
Effect of our derivative instruments designated in cash flow hedging relationships on our results of operations, net of income tax effect
Net Gain (Loss) Reclassified from AOCI to Income (Loss)	(0.2)	0.5	(0.4)	0.9
Cash flow hedging | Foreign currency contracts | Cost of product sold
Effect of our derivative instruments designated in cash flow hedging relationships on our results of operations, net of income tax effect
Net Gain (Loss) Reclassified from AOCI to Income (Loss)	12.6	(18.7)	21.6	(27.2)
Cash flow hedging | Interest rate swap contracts
Effect of our derivative instruments designated in cash flow hedging relationships on our results of operations, net of income tax effect
Net Gain (Loss) Recognized in OCI		(0.3)		(0.6)
Cash flow hedging | Interest rate swap contracts | Interest expense
Effect of our derivative instruments designated in cash flow hedging relationships on our results of operations, net of income tax effect
Net Gain (Loss) Reclassified from AOCI to Income (Loss)		(0.7)		(1.1)
Cash flow hedging | Treasury lock contracts
Effect of our derivative instruments designated in cash flow hedging relationships on our results of operations, net of income tax effect
Net Gain (Loss) Recognized in OCI	0	0	0	(16.1)
Cash flow hedging | Treasury lock contracts | Interest expense
Effect of our derivative instruments designated in cash flow hedging relationships on our results of operations, net of income tax effect
Net Gain (Loss) Reclassified from AOCI to Income (Loss)	$ (0.9)	$ (0.7)	$ (1.5)	$ (0.7)

Derivative Instruments - Narrat

Derivative Instruments - Narrative (Details) $ in Millions	6 Months Ended
	Aug. 31, 2021USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair value of derivative instruments in a net liability position due to counterparties	$ 0.1
Amount of net gains (losses), net of income tax effect, to be reclassified from AOCI to our results of operations within the next 12 months	$ 28.4

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Fair Value Measurement Inputs (Details) $ / shares in Units, $ in Millions	Aug. 31, 2021CAD ($)$ / sharesshares	Feb. 28, 2021$ / shares
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Common shares to be repurchased for cancellation under share repurchase credit feature (in shares) | shares	27,378,866
Tranche B Warrants and Tranche C Warrants | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Dollar value of common shares to be repurchased for cancellation under share repurchase credit feature | $	$ 1,583
Significant Other Observable Inputs (Level 2) | Warrants | Tranche A Warrants | Exercise price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants outstanding, measurement input, C$ per share	$ 50.40	$ 50.40
Significant Other Observable Inputs (Level 2) | Warrants | Tranche A Warrants | Valuation date stock price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants outstanding, measurement input, C$ per share	$ 21.71	$ 41.90
Significant Other Observable Inputs (Level 2) | Warrants | Tranche A Warrants | Remaining term
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants outstanding, term	2 years 2 months 12 days	2 years 8 months 12 days
Significant Other Observable Inputs (Level 2) | Warrants | Tranche A Warrants | Expected volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants outstanding, measurement input, decimal	0.650	0.700
Significant Other Observable Inputs (Level 2) | Warrants | Tranche A Warrants | Risk-free interest rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants outstanding, measurement input, decimal	0.004	0.005
Significant Other Observable Inputs (Level 2) | Warrants | Tranche A Warrants | Expected dividend yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants outstanding, measurement input, decimal	0	0
Significant Other Observable Inputs (Level 2) | Warrants | Tranche B Warrants | Exercise price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants outstanding, measurement input, C$ per share	$ 76.68	$ 76.68
Significant Other Observable Inputs (Level 2) | Warrants | Tranche B Warrants | Valuation date stock price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants outstanding, measurement input, C$ per share	$ 21.71	$ 41.90
Significant Other Observable Inputs (Level 2) | Warrants | Tranche B Warrants | Remaining term
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants outstanding, term	5 years 2 months 12 days	5 years 8 months 12 days
Significant Other Observable Inputs (Level 2) | Warrants | Tranche B Warrants | Expected volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants outstanding, measurement input, decimal	0.650	0.700
Significant Other Observable Inputs (Level 2) | Warrants | Tranche B Warrants | Risk-free interest rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants outstanding, measurement input, decimal	0.008	0.011
Significant Other Observable Inputs (Level 2) | Warrants | Tranche B Warrants | Expected dividend yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants outstanding, measurement input, decimal	0	0
Significant Other Observable Inputs (Level 2) | Convertible debt securities | Conversion price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt instrument, measurement input, C$ per share	$ 48.17	$ 48.17
Significant Other Observable Inputs (Level 2) | Convertible debt securities | Valuation date stock price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt instrument, measurement input, C$ per share	$ 21.71	$ 41.90
Significant Other Observable Inputs (Level 2) | Convertible debt securities | Remaining term
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities, term	1 year 10 months 24 days	2 years 4 months 24 days
Significant Other Observable Inputs (Level 2) | Convertible debt securities | Expected volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Instrument, measurement input, decimal	0.650	0.576
Significant Other Observable Inputs (Level 2) | Convertible debt securities | Risk-free interest rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Instrument, measurement input, decimal	0.004	0.004
Significant Other Observable Inputs (Level 2) | Convertible debt securities | Expected dividend yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Instrument, measurement input, decimal	0	0

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Debt and Investments (Details) shares in Millions, $ in Millions, $ in Millions	Jun. 30, 2018USD ($)	Jun. 30, 2018CAD ($)	Aug. 31, 2021USD ($)shares	Aug. 31, 2020USD ($)	Feb. 28, 2021USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Payments to acquire investments			$ 28.6	$ 217.4
Long-term debt, including current portion			10,087.5		$ 10,442.3
Carrying amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, including current portion			10,087.5		10,442.3
Fair value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, including current portion			$ 11,197.6		$ 11,580.9
Warrants | Tranche A Warrants
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Number of common shares to be acquired upon exercise of warrants (in shares) | shares			88.5
Warrants | Tranche B Warrants
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Number of common shares to be acquired upon exercise of warrants (in shares) | shares			38.4
Warrants | Tranche C Warrants
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Number of common shares to be acquired upon exercise of warrants (in shares) | shares			12.8
Convertible debt securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Payments to acquire investments	$ 150.5	$ 200

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Recurring Basis Measurements (Details) $ / shares in Units, shares in Millions, $ in Millions, $ in Millions	Aug. 31, 2021USD ($)shares	May 01, 2020USD ($)	May 01, 2020CAD ($)$ / sharesshares	Aug. 31, 2021USD ($)shares	Aug. 31, 2020USD ($)	Aug. 31, 2021USD ($)shares	Aug. 31, 2020USD ($)	Feb. 28, 2021USD ($)
Fair Value, Net Asset (Liability) [Abstract]
Debt securities	$ 488.6			$ 488.6		$ 488.6		$ 1,818.1
Debt and Equity Securities, Unrealized Gain (Loss), Excluding Other-than-temporary Impairment [Abstract]
Unrealized net gain (loss) on securities measured at fair value				(590)	$ (47.6)	(1,335.1)	$ (244.9)
Equity securities
Debt and Equity Securities, Unrealized Gain (Loss), Excluding Other-than-temporary Impairment [Abstract]
Payments to acquire investments	3,044.3
Equity securities | May 2020 Canopy Investment
Debt and Equity Securities, Unrealized Gain (Loss), Excluding Other-than-temporary Impairment [Abstract]
Payments to acquire investments	$ 173.9	$ 173.9	$ 245
Convertible debt securities
Debt and Equity Securities, Unrealized Gain (Loss), Excluding Other-than-temporary Impairment [Abstract]
Unrealized net gain (loss) on securities measured at fair value				(19.2)	10	(28.1)	(2.5)
Warrants | November 2017 Canopy Warrants
Debt and Equity Securities, Unrealized Gain (Loss), Excluding Other-than-temporary Impairment [Abstract]
Unrealized net gain (loss) on securities measured at fair value				0	0	0	(61.8)
Warrants | New November 2018 Canopy Warrants
Debt and Equity Securities, Unrealized Gain (Loss), Excluding Other-than-temporary Impairment [Abstract]
Unrealized net gain (loss) on securities measured at fair value				$ (570.8)	$ (57.6)	$ (1,307)	$ (180.6)
Warrants | May 2020 Canopy Investment
Debt and Equity Securities, Unrealized Gain (Loss), Excluding Other-than-temporary Impairment [Abstract]
Exercise price of warrants, C$ per share | $ / shares			$ 12.98
Common Stock
Debt and Equity Securities, Unrealized Gain (Loss), Excluding Other-than-temporary Impairment [Abstract]
Equity method investment, number of common shares acquired (in shares) | shares	142.3			142.3		142.3
Common Stock | May 2020 Canopy Investment
Debt and Equity Securities, Unrealized Gain (Loss), Excluding Other-than-temporary Impairment [Abstract]
Equity method investment, number of common shares acquired (in shares) | shares	18.9		18.9	18.9		18.9
Recurring | Foreign currency contracts
Fair Value, Net Asset (Liability) [Abstract]
Derivative asset	$ 70			$ 70		$ 70		76.6
Derivative liability	10.6			10.6		10.6		9.7
Recurring | Commodity derivative contracts
Fair Value, Net Asset (Liability) [Abstract]
Derivative asset	53.7			53.7		53.7		21.2
Derivative liability	0.4			0.4		0.4		5.3
Recurring | Equity securities
Fair Value, Net Asset (Liability) [Abstract]
Equity securities	332.7			332.7		332.7		1,639.7
Recurring | Convertible debt securities
Fair Value, Net Asset (Liability) [Abstract]
Debt securities	153.8			153.8		153.8		176.3
Recurring | Quoted Prices in Active Markets (Level 1) | Foreign currency contracts
Fair Value, Net Asset (Liability) [Abstract]
Derivative asset	0			0		0		0
Derivative liability	0			0		0		0
Recurring | Quoted Prices in Active Markets (Level 1) | Commodity derivative contracts
Fair Value, Net Asset (Liability) [Abstract]
Derivative asset	0			0		0		0
Derivative liability	0			0		0		0
Recurring | Quoted Prices in Active Markets (Level 1) | Equity securities
Fair Value, Net Asset (Liability) [Abstract]
Equity securities	0			0		0		0
Recurring | Quoted Prices in Active Markets (Level 1) | Convertible debt securities
Fair Value, Net Asset (Liability) [Abstract]
Debt securities	0			0		0		0
Recurring | Significant Other Observable Inputs (Level 2) | Foreign currency contracts
Fair Value, Net Asset (Liability) [Abstract]
Derivative asset	70			70		70		76.6
Derivative liability	10.6			10.6		10.6		9.7
Recurring | Significant Other Observable Inputs (Level 2) | Commodity derivative contracts
Fair Value, Net Asset (Liability) [Abstract]
Derivative asset	53.7			53.7		53.7		21.2
Derivative liability	0.4			0.4		0.4		5.3
Recurring | Significant Other Observable Inputs (Level 2) | Equity securities
Fair Value, Net Asset (Liability) [Abstract]
Equity securities	332.7			332.7		332.7		1,639.7
Recurring | Significant Other Observable Inputs (Level 2) | Convertible debt securities
Fair Value, Net Asset (Liability) [Abstract]
Debt securities	153.8			153.8		153.8		176.3
Recurring | Significant Unobservable Inputs (Level 3) | Foreign currency contracts
Fair Value, Net Asset (Liability) [Abstract]
Derivative asset	0			0		0		0
Derivative liability	0			0		0		0
Recurring | Significant Unobservable Inputs (Level 3) | Commodity derivative contracts
Fair Value, Net Asset (Liability) [Abstract]
Derivative asset	0			0		0		0
Derivative liability	0			0		0		0
Recurring | Significant Unobservable Inputs (Level 3) | Equity securities
Fair Value, Net Asset (Liability) [Abstract]
Equity securities	0			0		0		0
Recurring | Significant Unobservable Inputs (Level 3) | Convertible debt securities
Fair Value, Net Asset (Liability) [Abstract]
Debt securities	$ 0			$ 0		$ 0		$ 0

Fair Value of Financial Instr_6

Fair Value of Financial Instruments - Nonrecurring Basis Measurements (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 31, 2021	Aug. 31, 2020	Aug. 31, 2021	Aug. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-lived assets, Total Losses	$ 0	$ 0	$ 665.9	$ 0
Long-lived assets held for sale, Total Losses	0	(22)	0	3
Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-lived assets, Total Losses			665.9
Long-lived assets held for sale, Total Losses				3
Nonrecurring | Quoted Prices in Active Markets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-lived assets	0		0
Long-lived assets held for sale		0		0
Nonrecurring | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-lived assets	0		0
Long-lived assets held for sale		0		0
Nonrecurring | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-lived assets	$ 20		$ 20
Long-lived assets held for sale		$ 795.2		$ 795.2

Fair Value of Financial Instr_7

Fair Value of Financial Instruments - Impairment of Long-Lived Assets and Long-Lived Assets Held for Sale (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Aug. 31, 2021	Aug. 31, 2020	May 31, 2020	Aug. 31, 2021	Aug. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of brewery construction in progress	$ 0	$ 0		$ 665.9	$ 0
Impairment of assets held for sale	0	(22)		0	3
Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of brewery construction in progress				665.9
Impairment of assets held for sale					3
Nonrecurring | Operating Segments | Wine and Spirits | Wine and Spirits Divestitures and Concentrate Business Divestiture | Disposal Group, Not Discontinued Operations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of assets held for sale		(22)	$ 25		3
Assets held for sale, carrying value		798.2			798.2
Assets held for sale, estimated fair value		$ 795.2			$ 795.2
Nonrecurring | Mexicali Brewery | Construction in progress | Operating Segments | Beer
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-lived assets, carrying value	685.9			685.9
Long-lived assets, estimated fair value	$ 20			20
Impairment of brewery construction in progress				$ 665.9

Goodwill (Details)

Goodwill (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Aug. 31, 2021	Feb. 28, 2021
Changes in the carrying amount of goodwill [Roll Forward]
Goodwill, beginning of period	$ 7,793.5	$ 7,757.1
Purchase accounting allocations	0.9	14.3
Foreign currency translation adjustments	4.5	(22.8)
Reclassified from assets held for sale		44.9
Goodwill, end of period	7,798.9	7,793.5
Operating Segments | Beer
Changes in the carrying amount of goodwill [Roll Forward]
Goodwill, beginning of period	5,125.6	5,163.4
Purchase accounting allocations	0	0
Foreign currency translation adjustments	6.8	(38.7)
Reclassified from assets held for sale		0.9
Goodwill, end of period	5,132.4	5,125.6
Operating Segments | Wine and Spirits
Changes in the carrying amount of goodwill [Roll Forward]
Goodwill, beginning of period	2,667.9	2,593.7
Purchase accounting allocations	0.9	14.3
Foreign currency translation adjustments	(2.3)	15.9
Reclassified from assets held for sale		44
Goodwill, end of period	$ 2,666.5	$ 2,667.9

Intangible Assets - Component o

Intangible Assets - Component of Intangible Assets (Details) - USD ($) $ in Millions	Aug. 31, 2021	Feb. 28, 2021
Finite-Lived Intangible Assets [Line Items]
Amortizable intangible assets, Gross Carrying Amount	$ 108.2	$ 108.3
Amortizable intangible assets, Net Carrying Amount	24.7	26.5
Indefinite-lived Intangible Assets [Line Items]
Intangible assets	2,729.7	2,732.1
Trademarks
Indefinite-lived Intangible Assets [Line Items]
Nonamortizable intangible assets, Net Carrying Amount	2,705	2,705.6
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Amortizable intangible assets, Gross Carrying Amount	87.2	87.2
Amortizable intangible assets, Net Carrying Amount	24.5	26.3
Other
Finite-Lived Intangible Assets [Line Items]
Amortizable intangible assets, Gross Carrying Amount	21	21.1
Amortizable intangible assets, Net Carrying Amount	$ 0.2	$ 0.2

Equity Method Investments (Deta

Equity Method Investments (Details) shares in Millions, $ in Millions, $ in Millions	Aug. 31, 2021USD ($)shares	May 01, 2020USD ($)shares	May 01, 2020CAD ($)shares	Aug. 31, 2021USD ($)shares	May 31, 2021USD ($)	Aug. 31, 2020USD ($)	May 31, 2020USD ($)	Aug. 31, 2021USD ($)shares	Aug. 31, 2020USD ($)	Feb. 28, 2021USD ($)
Schedule of Equity Method Investments [Line Items]
Equity method investments, carrying value	$ 2,819			$ 2,819		$ 2,931.9		$ 2,819	$ 2,931.9	$ 2,788.4
Net sales				2,371.1		2,260.4		4,397.6	4,223.8
Gross profit (loss)				1,229.7		1,215.8		2,349	2,204.1
Net income (loss)				11.9	$ (897.3)	521.8	$ (172.6)	(885.4)	349.2
Net income (loss) attributable to CBI				$ 1.5		512.1		$ (906.6)	334.2
Common Stock
Schedule of Equity Method Investments [Line Items]
Equity method investment, number of common shares acquired (in shares) | shares	142.3			142.3				142.3
Equity securities
Schedule of Equity Method Investments [Line Items]
Payments to acquire investments	$ 3,044.3
Canopy Equity Method Investment
Schedule of Equity Method Investments [Line Items]
Net sales				$ 110.8		79.7		$ 228.1	160
Gross profit (loss)				22.2		4.7		29.9	(52.6)
Net income (loss)				317.4		(92.6)		(169.7)	(1,066.2)
Net income (loss) attributable to CBI				319.4		(78.3)		(233.5)	(1,031.7)
Canopy Equity Method Investment
Schedule of Equity Method Investments [Line Items]
Equity method investments, carrying value	$ 2,580.2			$ 2,580.2				$ 2,580.2		$ 2,578.8
Equity method investment, ownership percentage	36.20%			36.20%				36.20%		38.10%
Fair value of equity method investment	$ 2,448.1			$ 2,448.1				$ 2,448.1		$ 4,679.3
Equity in earnings (losses) from Canopy and related activities				120.5		(31)		(35.3)	(408.6)
Other equity method investments
Schedule of Equity Method Investments [Line Items]
Equity method investments, carrying value	$ 238.8			238.8				238.8		$ 209.6
Equity in earnings (losses) from Canopy and related activities				$ (1.3)		$ (2.1)		$ 0.4	$ 1.6
Other equity method investments | Minimum
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	20.00%			20.00%				20.00%		20.00%
Other equity method investments | Maximum
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	50.00%			50.00%				50.00%		50.00%
November 2017 Canopy Investment | Common Stock
Schedule of Equity Method Investments [Line Items]
Equity method investment, number of common shares acquired (in shares) | shares	18.9			18.9				18.9
November 2017 Canopy Investment | Equity securities
Schedule of Equity Method Investments [Line Items]
Payments to acquire investments	$ 130.1
November 2018 Canopy Investment | Common Stock
Schedule of Equity Method Investments [Line Items]
Equity method investment, number of common shares acquired (in shares) | shares	104.5			104.5				104.5
November 2018 Canopy Investment | Equity securities
Schedule of Equity Method Investments [Line Items]
Payments to acquire investments	$ 2,740.3
May 2020 Canopy Investment | Common Stock
Schedule of Equity Method Investments [Line Items]
Equity method investment, number of common shares acquired (in shares) | shares	18.9	18.9	18.9	18.9				18.9
May 2020 Canopy Investment | Equity securities
Schedule of Equity Method Investments [Line Items]
Payments to acquire investments	$ 173.9	$ 173.9	$ 245

Borrowings - Schedule of Borrow

Borrowings - Schedule of Borrowings (Details) - USD ($) $ in Millions	Aug. 31, 2021	Feb. 28, 2021
Schedule of Debt [Line Items]
Short-term borrowings	$ 486	$ 0
Long-term Debt
Other, current	5.8
Other, long-term	13.4
Other, total	19.2	15.5
Long-term debt, current	5.8	29.2
Long-term debt, long-term	10,081.7	10,413.1
Long-term debt, total	10,087.5	10,442.3
Commercial paper
Schedule of Debt [Line Items]
Short-term borrowings	486	0
Unsecured debt | Term loan credit facilities
Long-term Debt
Unsecured debt, current	0
Unsecured debt, long-term	300
Unsecured debt, total	300	454.4
Unsecured debt | Senior notes
Long-term Debt
Unsecured debt, current	0
Unsecured debt, long-term	9,768.3
Unsecured debt, total	$ 9,768.3	$ 9,972.4

Borrowings - Narrative (Details

Borrowings - Narrative (Details) - USD ($)	Aug. 31, 2021	Jul. 31, 2021	Aug. 31, 2021	Jun. 01, 2021	May 31, 2021	Feb. 28, 2021	Nov. 30, 2017	Oct. 31, 2017	May 31, 2017
Schedule of Debt [Line Items]
Short-term borrowings	$ 486,000,000		$ 486,000,000			$ 0
Commercial paper
Schedule of Debt [Line Items]
Debt instrument, face amount	486,000,000		486,000,000					$ 2,000,000,000
Short-term borrowings	$ 486,000,000		$ 486,000,000			$ 0
Interest rate	0.20%		0.20%
Weighted average remaining term	15 days
Unsecured debt
Schedule of Debt [Line Items]
Basis points above adjusted treasury rate		15.00%
2019 Five-Year Term Facility | Unsecured debt
Schedule of Debt [Line Items]
Debt instrument, face amount	$ 491,300,000		$ 491,300,000
Interest rate	0.70%		0.70%
2019 Five-Year Term Facility | Unsecured debt | LIBOR
Schedule of Debt [Line Items]
LIBOR margin	0.63%		0.63%	0.63%	0.88%
2.25% July 2021 Senior Notes | Unsecured debt
Schedule of Debt [Line Items]
Debt instrument, face amount		$ 1,000,000,000
Coupon rates of notes		2.25%
Proceeds from issuance of long-term debt, net of discount and debt issuance costs	$ 987,400,000
Percentage of outstanding principal amount as redemption price		100.00%
2.70% May 2017 Senior Notes | Unsecured debt
Schedule of Debt [Line Items]
Debt instrument, face amount									$ 500,000,000
Coupon rates of notes									2.70%
Percentage of outstanding principal amount as redemption price			100.00%
Make-whole payment			$ 26,600,000
2.65% November 2017 Senior Notes | Unsecured debt
Schedule of Debt [Line Items]
Debt instrument, face amount							$ 700,000,000
Coupon rates of notes							2.65%
Percentage of outstanding principal amount as redemption price			100.00%
Make-whole payment			$ 26,600,000

Borrowings - Credit Agreements

Borrowings - Credit Agreements (Details) - USD ($)	6 Months Ended
	Aug. 31, 2021	Aug. 31, 2020	Jun. 01, 2021	May 31, 2021	Feb. 28, 2021
Schedule of Debt [Line Items]
Short-term borrowings	$ 486,000,000				$ 0
Partial prepayment	1,357,100,000	$ 1,536,400,000
2019 Five-Year Term Facility | Unsecured debt
Schedule of Debt [Line Items]
Debt instrument, face amount	491,300,000
Unsecured debt	$ 300,000,000
Interest rate	0.70%
Partial prepayment	$ 142,100,000
2019 Five-Year Term Facility | Unsecured debt | LIBOR
Schedule of Debt [Line Items]
LIBOR margin	0.63%		0.63%	0.88%
Revolving credit facility
Schedule of Debt [Line Items]
Debt instrument, face amount	$ 2,000,000,000
Short-term borrowings	$ 0
Interest rate	0.00%
Remaining borrowing capacity	$ 1,501,800,000
Revolving credit facility | LIBOR
Schedule of Debt [Line Items]
LIBOR margin	0.00%
Letters of credit
Schedule of Debt [Line Items]
Debt instrument, face amount	$ 200,000,000
Outstanding letters of credit	$ 12,200,000

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		6 Months Ended
	Aug. 31, 2021	Aug. 31, 2020	Aug. 31, 2021	Aug. 31, 2020
Income Tax Disclosure [Abstract]
Effective tax rate	91.70%	20.60%	15.30%	40.70%

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Common Stock and Treasury Stock Issued (Details) - shares	3 Months Ended				6 Months Ended
	Aug. 31, 2021	May 31, 2021	Aug. 31, 2020	May 31, 2020	Aug. 31, 2021	Aug. 31, 2020
Class A Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common Stock, beginning of period (in shares)		187,204,280			187,204,280
Treasury Stock, beginning of period (in shares)		17,070,550			17,070,550
Common Stock, end of period (in shares)	187,247,721				187,247,721
Treasury Stock, end of period (in shares)	22,588,014				22,588,014
Class B Convertible Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common Stock, beginning of period (in shares)		28,270,288			28,270,288
Treasury Stock, beginning of period (in shares)		5,005,800			5,005,800
Common Stock, end of period (in shares)	28,227,478				28,227,478
Treasury Stock, end of period (in shares)	5,005,800				5,005,800
Common Stock | Class A Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common Stock, beginning of period (in shares)	187,247,721	187,204,280	186,093,277	186,090,745	187,204,280	186,090,745
Conversion of shares (in shares)		43,441	684,808	2,532
Common Stock, end of period (in shares)	187,247,721	187,247,721	186,778,085	186,093,277	187,247,721	186,778,085
Common Stock | Class B Convertible Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common Stock, beginning of period (in shares)	28,227,478	28,270,288	28,297,674	28,300,206	28,270,288	28,300,206
Conversion of shares (in shares)		(42,810)	(11,113)	(2,532)
Common Stock, end of period (in shares)	28,227,478	28,227,478	28,286,561	28,297,674	28,227,478	28,286,561
Common Stock | Class 1 Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common Stock, beginning of period (in shares)	613,086	612,936	1,694,803	1,692,227	612,936	1,692,227
Conversion of shares (in shares)		(631)	(673,695)	0
Exercise of stock options (in shares)	1,267	781	0	2,576
Common Stock, end of period (in shares)	614,353	613,086	1,021,108	1,694,803	614,353	1,021,108
Treasury Stock | Class A Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury Stock, beginning of period (in shares)	18,577,123	17,070,550	18,118,879	18,256,826	17,070,550	18,256,826
Number of shares repurchased (in shares)	4,079,651	1,696,722
Exercise of stock options (in shares)	(34,736)	(116,058)	(781,075)	(44,593)
Employee stock purchases (in shares)	(28,768)		(32,867)
Treasury Stock, end of period (in shares)	22,588,014	18,577,123	17,301,423	18,118,879	22,588,014	17,301,423
Treasury Stock | Class A Common Stock | Restricted stock units
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Vesting of stock units (in shares)	(5,256)	(66,157)	(3,514)	(76,019)
Shares withheld to satisfy tax withholding requirements (in shares)	165	36,048	187	37,506	36,213	37,693
Treasury Stock | Class A Common Stock | Performance share units
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Vesting of stock units (in shares)		(7,934)		(17,335)
Shares withheld to satisfy tax withholding requirements (in shares)	0	4,565	0	9,433	4,565	9,433
Treasury Stock | Class B Convertible Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury Stock, beginning of period (in shares)	5,005,800	5,005,800	5,005,800	5,005,800	5,005,800	5,005,800
Treasury Stock, end of period (in shares)	5,005,800	5,005,800	5,005,800	5,005,800	5,005,800	5,005,800

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Details) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended	8 Months Ended	44 Months Ended
	Oct. 06, 2021	Aug. 31, 2021	May 31, 2021	Aug. 31, 2021	Oct. 06, 2021	Oct. 06, 2021	Jan. 31, 2021	Jan. 31, 2018
Equity, Class of Treasury Stock [Line Items]
Dollar Value of Shares Repurchased		$ 904,200,000	$ 400,800,000
Class A and Class B | 2018 Authorization
Equity, Class of Treasury Stock [Line Items]
Repurchase Authorization								$ 3,000,000,000
Class A and Class B | 2021 Authorization
Equity, Class of Treasury Stock [Line Items]
Repurchase Authorization							$ 2,000,000,000
Class A Common Stock | 2018 Authorization
Equity, Class of Treasury Stock [Line Items]
Number of shares repurchased (in shares)				5,776,373
Dollar Value of Shares Repurchased				$ 1,305,000,000
Class A Common Stock | 2018 Authorization | Subsequent event
Equity, Class of Treasury Stock [Line Items]
Number of shares repurchased (in shares)	402,642					11,076,620
Dollar Value of Shares Repurchased	$ 85,500,000					$ 2,436,400,000
Class A Common Stock | 2021 Authorization | Subsequent event
Equity, Class of Treasury Stock [Line Items]
Number of shares repurchased (in shares)					0
Dollar Value of Shares Repurchased					$ 0

Stockholders' Equity - Stock Re

Stockholders' Equity - Stock Repurchases (Details) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended	8 Months Ended	44 Months Ended
	Oct. 06, 2021	Aug. 31, 2021	May 31, 2021	Aug. 31, 2021	Oct. 06, 2021	Oct. 06, 2021	Jan. 31, 2021	Jan. 31, 2018
Equity, Class of Treasury Stock [Line Items]
Dollar Value of Shares Repurchased		$ 904,200,000	$ 400,800,000
Class A and Class B | 2018 Authorization
Equity, Class of Treasury Stock [Line Items]
Repurchase Authorization								$ 3,000,000,000
Class A and Class B | 2021 Authorization
Equity, Class of Treasury Stock [Line Items]
Repurchase Authorization							$ 2,000,000,000
Class A Common Stock | 2018 Authorization
Equity, Class of Treasury Stock [Line Items]
Dollar Value of Shares Repurchased				$ 1,305,000,000
Number of shares repurchased (in shares)				5,776,373
Class A Common Stock | 2018 Authorization | Subsequent event
Equity, Class of Treasury Stock [Line Items]
Dollar Value of Shares Repurchased	$ 85,500,000					$ 2,436,400,000
Number of shares repurchased (in shares)	402,642					11,076,620
Class A Common Stock | 2021 Authorization | Subsequent event
Equity, Class of Treasury Stock [Line Items]
Dollar Value of Shares Repurchased					$ 0
Number of shares repurchased (in shares)					0

Net Income (Loss) Per Common _3

Net Income (Loss) Per Common Share Attributable to CBI (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Aug. 31, 2021	Aug. 31, 2020	Aug. 31, 2021	Aug. 31, 2020
Earnings per share reconciliation
Net income (loss) attributable to CBI allocated - basic	$ 1.5	$ 512.1	$ (906.6)	$ 334.2
Basic and diluted net income (loss) per common share attributable to CBI
Antidilutive shares (in shares)			1,936
Class A Common Stock
Earnings per share reconciliation
Net income (loss) attributable to CBI allocated - basic	1.3	455.5	$ (805.8)	297.3
Conversion of Class B common shares into Class A common shares	0.2	56.6	0	36.9
Effect of stock-based awards on allocated net income (loss)	0	0	0	0
Net income (loss) attributable to CBI allocated - diluted	$ 1.5	$ 512.1	$ (805.8)	$ 334.2
Weighted average number of shares outstanding reconciliation
Weighted average common shares outstanding - basic (in shares)	167,447	170,078	169,025	169,841
Conversion of Class B common shares into Class A common shares (in shares)	23,222	23,284	0	23,289
Stock-based awards, primarily stock options (in shares)	1,861	1,780	0	1,832
Weighted average common shares outstanding - diluted (in shares)	192,530	195,142	169,025	194,962
Basic and diluted net income (loss) per common share attributable to CBI
Net income (loss) per common share attributable to CBI - basic (in dollars per share)	$ 0.01	$ 2.68	$ (4.77)	$ 1.74
Net income (loss) per common share attributable to CBI - diluted (in dollars per share)	$ 0.01	$ 2.62	$ (4.77)	$ 1.71
Class B Convertible Common Stock
Earnings per share reconciliation
Net income (loss) attributable to CBI allocated - basic	$ 0.2	$ 56.6	$ (100.8)	$ 36.9
Conversion of Class B common shares into Class A common shares	0	0	0	0
Effect of stock-based awards on allocated net income (loss)	0	(0.4)	0	0
Net income (loss) attributable to CBI allocated - diluted	$ 0.2	$ 56.2	$ (100.8)	$ 36.9
Weighted average number of shares outstanding reconciliation
Weighted average common shares outstanding - basic (in shares)	23,222	23,284	23,234	23,289
Conversion of Class B common shares into Class A common shares (in shares)	0	0	0	0
Stock-based awards, primarily stock options (in shares)	0	0	0	0
Weighted average common shares outstanding - diluted (in shares)	23,222	23,284	23,234	23,289
Basic and diluted net income (loss) per common share attributable to CBI
Net income (loss) per common share attributable to CBI - basic (in dollars per share)	$ 0.01	$ 2.43	$ (4.34)	$ 1.58
Net income (loss) per common share attributable to CBI - diluted (in dollars per share)	$ 0.01	$ 2.42	$ (4.34)	$ 1.58
Antidilutive shares (in shares)			23,234

Comprehensive Income (Loss) A_3

Comprehensive Income (Loss) Attributable to CBI - Reconciliation of Net Income (Loss) Attributable to CBI to Comprehensive Income (Loss) Attributable to CBI (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Aug. 31, 2021	May 31, 2021	Aug. 31, 2020	May 31, 2020	Aug. 31, 2021	Aug. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net income (loss) attributable to CBI	$ 1.5		$ 512.1		$ (906.6)	$ 334.2
Other comprehensive income (loss) attributable to CBI
Other comprehensive income (loss) attributable to CBI, net of tax amount	(57.7)	$ 104.5	211.4	$ (792.3)
Comprehensive income (loss) attributable to CBI	(52.3)		719		(861.5)	(215)
Accumulated Other Comprehensive Income (Loss)
Other comprehensive income (loss) attributable to CBI
Net gain (loss), net of tax amount					63.5
Reclassification adjustments, net of tax amount					(18.4)
Other comprehensive income (loss) attributable to CBI, before tax amount	(58.4)		209.8		46	(549.9)
Other comprehensive income (loss) attributable to CBI, tax (expense) benefit	4.6		(2.9)		(0.9)	0.7
Other comprehensive income (loss) attributable to CBI, net of tax amount	(53.8)	$ 98.9	206.9	$ (756.1)	45.1	(549.2)
Accumulated Other Comprehensive Income (Loss) | Share of other comprehensive income (loss) of equity method investments
Other comprehensive income (loss) attributable to CBI
Net gain (loss), before tax amount	(8)		(17.8)		(26.1)	34.7
Net gain (loss), tax (expense) benefit	1.8		0.4		5.9	(0.6)
Net gain (loss), net of tax amount	(6.2)		(17.4)		(20.2)	34.1
Reclassification adjustments, before tax amount	0		0		0	0
Reclassification adjustments, tax (expense) benefit	0		0		0	0
Reclassification adjustments, net of tax amount	0		0		0	0
Other comprehensive income (loss) attributable to CBI, before tax amount	(8)		(17.8)		(26.1)	34.7
Other comprehensive income (loss) attributable to CBI, tax (expense) benefit	1.8		0.4		5.9	(0.6)
Other comprehensive income (loss) attributable to CBI, net of tax amount	(6.2)		(17.4)		(20.2)	34.1
Foreign currency translation adjustments
Other comprehensive income (loss) attributable to CBI
Net gain (loss), before tax amount	(30)		170.9		73	(449)
Net gain (loss), tax (expense) benefit	0		0		0	0
Net gain (loss), net of tax amount	(30)		170.9		73	(449)
Reclassification adjustments, before tax amount	0		0		0	0
Reclassification adjustments, tax (expense) benefit	0		0		0	0
Reclassification adjustments, net of tax amount	0		0		0	0
Other comprehensive income (loss) attributable to CBI, before tax amount	(30)		170.9		73	(449)
Other comprehensive income (loss) attributable to CBI, tax (expense) benefit	0		0		0	0
Other comprehensive income (loss) attributable to CBI, net of tax amount	(30)		170.9		73	(449)
Unrealized net gain (loss) on derivative instruments
Other comprehensive income (loss) attributable to CBI
Net gain (loss), before tax amount	(8.2)		37.1		19.3	(163.4)
Net gain (loss), tax (expense) benefit	1.3		(2.1)		(8.5)	3.2
Net gain (loss), net of tax amount	(6.9)		35		10.8	(160.2)
Reclassification adjustments, before tax amount	(12.3)		20.3		(20.1)	28
Reclassification adjustments, tax (expense) benefit	1.5		(1.4)		1.7	(1.9)
Reclassification adjustments, net of tax amount	(10.8)		18.9		(18.4)	26.1
Other comprehensive income (loss) attributable to CBI, before tax amount	(20.5)		57.4		(0.8)	(135.4)
Other comprehensive income (loss) attributable to CBI, tax (expense) benefit	2.8		(3.5)		(6.8)	1.3
Other comprehensive income (loss) attributable to CBI, net of tax amount	(17.7)		53.9		(7.6)	(134.1)
Pension/postretirement adjustments
Other comprehensive income (loss) attributable to CBI
Net gain (loss), before tax amount	0.1		(0.7)		(0.1)	(0.2)
Net gain (loss), tax (expense) benefit	0		0.2		0	0
Net gain (loss), net of tax amount	0.1		(0.5)		(0.1)	(0.2)
Reclassification adjustments, before tax amount	0		0		0	0
Reclassification adjustments, tax (expense) benefit	0		0		0	0
Reclassification adjustments, net of tax amount	0		0		0	0
Other comprehensive income (loss) attributable to CBI, before tax amount	0.1		(0.7)		(0.1)	(0.2)
Other comprehensive income (loss) attributable to CBI, tax (expense) benefit	0		0.2		0	0
Other comprehensive income (loss) attributable to CBI, net of tax amount	$ 0.1		$ (0.5)		$ (0.1)	$ (0.2)

Comprehensive Income (Loss) A_4

Comprehensive Income (Loss) Attributable to CBI - Accumulated Other Comprehensive Income (Loss), Net of Income Tax Effect (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Aug. 31, 2021	May 31, 2021	Aug. 31, 2020	May 31, 2020	Aug. 31, 2021	Aug. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' equity, beginning of period		$ 13,598.9			$ 13,598.9
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent [Abstract]
Other comprehensive income (loss) attributable to CBI, net of tax amount	$ (57.7)	104.5	$ 211.4	$ (792.3)
Stockholders' equity, period end	11,192.7				11,192.7
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' equity, beginning of period		(335.5)			(335.5)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent [Abstract]
Other comprehensive income (loss) before reclassification adjustments					63.5
Amounts reclassified from accumulated other comprehensive income (loss)					(18.4)
Other comprehensive income (loss) attributable to CBI, net of tax amount	(53.8)	98.9	206.9	$ (756.1)	45.1	$ (549.2)
Stockholders' equity, period end	(290.4)				(290.4)
Accumulated Other Comprehensive Income (Loss) | Share of other comprehensive income (loss) of equity method investments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' equity, beginning of period		17.7			17.7
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent [Abstract]
Other comprehensive income (loss) before reclassification adjustments	(6.2)		(17.4)		(20.2)	34.1
Amounts reclassified from accumulated other comprehensive income (loss)	0		0		0	0
Other comprehensive income (loss) attributable to CBI, net of tax amount	(6.2)		(17.4)		(20.2)	34.1
Stockholders' equity, period end	(2.5)				(2.5)
Foreign currency translation adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' equity, beginning of period		(392.5)			(392.5)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent [Abstract]
Other comprehensive income (loss) before reclassification adjustments	(30)		170.9		73	(449)
Amounts reclassified from accumulated other comprehensive income (loss)	0		0		0	0
Other comprehensive income (loss) attributable to CBI, net of tax amount	(30)		170.9		73	(449)
Stockholders' equity, period end	(319.5)				(319.5)
Unrealized net gain (loss) on derivative instruments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' equity, beginning of period		43.5			43.5
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent [Abstract]
Other comprehensive income (loss) before reclassification adjustments	(6.9)		35		10.8	(160.2)
Amounts reclassified from accumulated other comprehensive income (loss)	(10.8)		18.9		(18.4)	26.1
Other comprehensive income (loss) attributable to CBI, net of tax amount	(17.7)		53.9		(7.6)	(134.1)
Stockholders' equity, period end	35.9				35.9
Pension/postretirement adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' equity, beginning of period		$ (4.2)			(4.2)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent [Abstract]
Other comprehensive income (loss) before reclassification adjustments	0.1		(0.5)		(0.1)	(0.2)
Amounts reclassified from accumulated other comprehensive income (loss)	0		0		0	0
Other comprehensive income (loss) attributable to CBI, net of tax amount	0.1		$ (0.5)		(0.1)	$ (0.2)
Stockholders' equity, period end	$ (4.3)				$ (4.3)

Business Segment Information -

Business Segment Information - Narrative (Details)	6 Months Ended
	Aug. 31, 2021segmentdivision
Segment Reporting [Abstract]
Number of business divisions | division	3
Number of reportable operating segments | segment	4

Business Segment Information _2

Business Segment Information - Comparable Adjustments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		8 Months Ended
	Aug. 31, 2021	Aug. 31, 2020	Aug. 31, 2021	Aug. 31, 2020	Aug. 31, 2021
Cost of product sold
Net gain (loss) on undesignated derivative contracts	$ 17.8	$ 23.3	$ 39.7	$ (29.4)
Total cost of product sold	(1,141.4)	(1,044.6)	(2,048.6)	(2,019.7)
Selling, general, and administrative expenses
Net gain (loss) on undesignated derivative contracts	17.8	23.3	39.7	(29.4)
Total selling, general, and administrative expenses	(490.5)	(399.1)	(868.8)	(752.4)
Impairment of brewery construction in progress	0	0	(665.9)	0
Impairment of assets held for sale	0	22	0	(3)
Disposal Group, Not Discontinued Operations | Wine and Spirits Divestitures
Selling, general, and administrative expenses
Other gains (losses)					$ (5.2)
Transition services agreements activity	(4.9)	0	(7.2)	0	(13)
Gain (loss) on sale of business					$ (33.4)
Disposal Group, Not Discontinued Operations | Black Velvet Divestiture
Selling, general, and administrative expenses
Gain (loss) on sale of business	0	(3)	0	(3.6)
Foreign currency contracts | Selling, general, and administrative expenses
Cost of product sold
Net gain (loss) on undesignated derivative contracts	(6.2)	5.9	(8.4)	(20)
Selling, general, and administrative expenses
Net gain (loss) on undesignated derivative contracts	(6.2)	5.9	(8.4)	(20)
Comparable Adjustments
Cost of product sold
Flow through of inventory step-up	0.1	(0.1)	0.1	(0.1)
Strategic business development costs	0	(0.8)	(2.6)	(25.1)
COVID-19 incremental costs	0	(0.9)	0	(5.5)
Total cost of product sold	15.2	28.8	33.3	(16.5)
Selling, general, and administrative expenses
Restructuring and other strategic business development costs	0.8	(5.8)	(0.1)	(8.9)
COVID-19 incremental costs	0	(0.9)	0	(5.5)
Transaction, integration, and other acquisition-related costs	0	(3.1)	0	(3.9)
Other gains (losses)	(7.1)	(2.9)	(6.1)	4.5
Total selling, general, and administrative expenses	(6.3)	(9.9)	(6.2)	(20.9)
Impairment of brewery construction in progress	0	0	(665.9)	0
Impairment of assets held for sale	0	22	0	(3)
Comparable Adjustments, Operating income (loss)	8.9	40.9	(638.8)	(40.4)
Gain on vineyard sale	0	0	0	8.8
Comparable Adjustments | Selling, general, and administrative expenses
Cost of product sold
COVID-19 incremental costs	0	1.9	0	(4.6)
Selling, general, and administrative expenses
COVID-19 incremental costs	0	1.9	0	(4.6)
Comparable Adjustments | Commodity derivative contracts
Cost of product sold
Net gain (loss) on undesignated derivative contracts	24	17.4	48.1	(9.4)
Settlements of undesignated commodity derivative contracts	(8.9)	13.2	(12.3)	23.6
Selling, general, and administrative expenses
Net gain (loss) on undesignated derivative contracts	24	17.4	48.1	(9.4)
Comparable Adjustments | Foreign currency contracts
Cost of product sold
Net gain (loss) on undesignated derivative contracts	0	0	0	(8)
Selling, general, and administrative expenses
Net gain (loss) on undesignated derivative contracts	$ 0	$ 0	$ 0	$ (8)

Business Segment Information _3

Business Segment Information - Segment Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 31, 2021	Aug. 31, 2020	Aug. 31, 2021	Aug. 31, 2020	Feb. 28, 2021
Segment Reporting Information [Line Items]
Net sales	$ 2,371.1	$ 2,260.4	$ 4,397.6	$ 4,223.8
Operating income (loss)	739.2	838.7	814.3	1,448.7
Income (loss) from unconsolidated investments	(470.8)	(80.7)	(1,370)	(651.9)
Equity method investments	2,819	2,931.9	2,819	2,931.9	$ 2,788.4
Capital expenditures	239.5	133.6	353.4	277.8
Depreciation and amortization	87.4	73	164.6	145.4
Gain (Loss) on Investments, Excluding Other than Temporary Impairments [Abstract]
Unrealized net gain (loss) on securities measured at fair value	(590)	(47.6)	(1,335.1)	(244.9)
Income (loss) from unconsolidated investments	(470.8)	(80.7)	(1,370)	(651.9)
Canopy Equity Method Investment
Segment Reporting Information [Line Items]
Equity method investments	2,580.2		2,580.2		2,578.8
Gain (Loss) on Investments, Excluding Other than Temporary Impairments [Abstract]
Equity in earnings (losses) of equity method investees and related activities	120.5	(31)	(35.3)	(408.6)
Other equity method investments
Segment Reporting Information [Line Items]
Equity method investments	238.8		238.8		$ 209.6
Gain (Loss) on Investments, Excluding Other than Temporary Impairments [Abstract]
Equity in earnings (losses) of equity method investees and related activities	(1.3)	(2.1)	0.4	1.6
Operating Segments | Beer
Segment Reporting Information [Line Items]
Net sales	1,861.3	1,635.9	3,433.3	3,020
Operating income (loss)	693	695.7	1,366.1	1,273.5
Capital expenditures	210	90.2	295.8	198.5
Depreciation and amortization	64.5	48.6	118.5	92.9
Operating Segments | Wine and Spirits
Segment Reporting Information [Line Items]
Net sales	509.8	624.5	964.3	1,203.8
Operating income (loss)	100.2	161.5	204.4	325.5
Income (loss) from unconsolidated investments	(1.1)	(2.4)	0.2	1.1
Equity method investments	126.7	119.2	126.7	119.2
Capital expenditures	28.3	27.9	54	37.4
Depreciation and amortization	19.7	22.8	39.6	45.3
Gain (Loss) on Investments, Excluding Other than Temporary Impairments [Abstract]
Income (loss) from unconsolidated investments	(1.1)	(2.4)	0.2	1.1
Operating Segments | Wine and Spirits | Wine
Segment Reporting Information [Line Items]
Net sales	447.2	544.9	844.9	1,044.5
Operating Segments | Wine and Spirits | Spirits
Segment Reporting Information [Line Items]
Net sales	62.6	79.6	119.4	159.3
Operating Segments | Corporate Operations and Other
Segment Reporting Information [Line Items]
Operating income (loss)	(62.9)	(59.4)	(117.4)	(109.9)
Income (loss) from unconsolidated investments	(0.2)	0.3	(0.8)	0.5
Equity method investments	112.1	99.6	112.1	99.6
Capital expenditures	1.2	15.5	3.6	41.9
Depreciation and amortization	3.2	1.6	6.5	7.2
Gain (Loss) on Investments, Excluding Other than Temporary Impairments [Abstract]
Income (loss) from unconsolidated investments	(0.2)	0.3	(0.8)	0.5
Operating Segments | Canopy
Segment Reporting Information [Line Items]
Net sales	110.8	79.7	228.1	160
Operating income (loss)	(152.8)	(124.4)	(337)	(857.6)
Capital expenditures	16.5	44.4	37.5	114.4
Depreciation and amortization	20.4	24.5	43.3	54.6
Consolidation and Eliminations
Segment Reporting Information [Line Items]
Net sales	(110.8)	(79.7)	(228.1)	(160)
Operating income (loss)	152.8	124.4	337	857.6
Income (loss) from unconsolidated investments	(29.9)	(34.1)	(74.2)	(65.8)
Equity method investments	2,580.2	2,713.1	2,580.2	2,713.1
Capital expenditures	(16.5)	(44.4)	(37.5)	(114.4)
Depreciation and amortization	(20.4)	(24.5)	(43.3)	(54.6)
Gain (Loss) on Investments, Excluding Other than Temporary Impairments [Abstract]
Income (loss) from unconsolidated investments	(29.9)	(34.1)	(74.2)	(65.8)
Comparable Adjustments
Segment Reporting Information [Line Items]
Operating income (loss)	8.9	40.9	(638.8)	(40.4)
Income (loss) from unconsolidated investments	(439.6)	(44.5)	(1,295.2)	(587.7)
Gain (Loss) on Investments, Excluding Other than Temporary Impairments [Abstract]
Income (loss) from unconsolidated investments	$ (439.6)	$ (44.5)	$ (1,295.2)	$ (587.7)