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Fair Value of Financial Instruments (Tables) | 6 Months Ended
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Aug. 31, 2023
Fair Value Disclosures [Abstract] |
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 Prices in Active Markets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total
(in millions) |  |  |  |  |  |  |
August 31, 2023 |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |
Foreign currency contracts | $ | — |  |  | $ | 334.8 |  |  | $ | — |  |  | $ | 334.8 |
Commodity derivative contracts | $ | — |  |  | $ | 17.9 |  |  | $ | — |  |  | $ | 17.9 |
Liabilities: |  |  |  |  |  |  |
Foreign currency contracts | $ | — |  |  | $ | 12.3 |  |  | $ | — |  |  | $ | 12.3 |
Commodity derivative contracts | $ | — |  |  | $ | 28.4 |  |  | $ | — |  |  | $ | 28.4 |
| Fair Value Measurements Using |  |
| Quoted Prices in Active Markets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total
(in millions) |  |  |  |  |  |  |
February 28, 2023 |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |
Foreign currency contracts | $ | — |  |  | $ | 249.5 |  |  | $ | — |  |  | $ | 249.5 |
Commodity derivative contracts | $ | — |  |  | $ | 25.8 |  |  | $ | — |  |  | $ | 25.8 |
November 2018 Canopy Warrants | $ | — |  |  | $ | 0.2 |  |  | $ | — |  |  | $ | 0.2 |
Canopy Debt Securities | $ | — |  |  | $ | 69.6 |  |  | $ | — |  |  | $ | 69.6 |
Liabilities: |  |  |  |  |  |  |
Foreign currency contracts | $ | — |  |  | $ | 17.2 |  |  | $ | — |  |  | $ | 17.2 |
Commodity derivative contracts | $ | — |  |  | $ | 27.8 |  |  | $ | — |  |  | $ | 27.8 |
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 Prices in Active Markets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total Losses |  |
(in millions) |  |  |  |  |  |  |  |  |
For the Six Months Ended August 31, 2023 |  |  |  |  |  |  |  |  |
Equity method investments (1) | $ | 97.8 |  |  | $ | 2.6 |  |  | $ | — |  |  | $ | 135.8 |  |  |
For the Six Months Ended August 31, 2022 |  |  |  |  |  |  |  |  |
Equity method investments | $ | 634.8 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,060.3 |  |  |
(1)As of August 31, 2023, the carrying value of the Canopy Equity Method Investment exceeded the fair value (Level 1 fair value measurement). We evaluated and determined there was not an other-than-temporary impairment. Our conclusion was based primarily on the period of time for which the fair value had been less than the carrying value, including Canopy’s stock price recovery above our carrying value following quarter-end. We will continue to evaluate the Canopy Equity Method Investment for an other-than-temporary impairment.

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- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb) -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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