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Comprehensive Income (Loss) Attributable to CBI | 6 Months Ended
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Aug. 31, 2023
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 Amount |  | Tax (Expense) Benefit |  | Net of Tax Amount
(in millions) |  |  |  |  |
For the Six Months Ended August 31, 2023 |  |  |  |  |
Net income (loss) attributable to CBI |  |  |  |  | $ | 825.9 |
Other comprehensive income (loss) attributable to CBI: |  |  |  |  |
Foreign currency translation adjustments: |  |  |  |  |
Net gain (loss) | $ | 323.6 |  |  | $ | — |  |  | 323.6 |
Amounts reclassified | — |  |  | — |  |  | — |
Net gain (loss) recognized in other comprehensive income (loss) | 323.6 |  |  | — |  |  | 323.6 |
| Before Tax Amount |  | Tax (Expense) Benefit |  | Net of Tax Amount
(in millions) |  |  |  |  |
Unrealized gain (loss) on cash flow hedges: |  |  |  |  |
Net derivative gain (loss) | 162.8 |  |  | (19.5) |  |  | 143.3 |
Amounts reclassified | (69.5) |  |  | 8.0 |  |  | (61.5) |
Net gain (loss) recognized in other comprehensive income (loss) | 93.3 |  |  | (11.5) |  |  | 81.8 |
Pension/postretirement adjustments: |  |  |  |  |
Net actuarial gain (loss) | (0.5) |  |  | 0.1 |  |  | (0.4) |
Amounts reclassified | — |  |  | — |  |  | — |
Net gain (loss) recognized in other comprehensive income (loss) | (0.5) |  |  | 0.1 |  |  | (0.4) |
Share of OCI of equity method investments |  |  |  |  |
Net gain (loss) | 0.8 |  |  | 0.1 |  |  | 0.9 |
Amounts reclassified | — |  |  | — |  |  | — |
Net gain (loss) recognized in other comprehensive income (loss) | 0.8 |  |  | 0.1 |  |  | 0.9 |
Other comprehensive income (loss) attributable to CBI | $ | 417.2 |  |  | $ | (11.3) |  |  | 405.9 |
Comprehensive income (loss) attributable to CBI |  |  |  |  | $ | 1,231.8 |
For the Six Months Ended August 31, 2022 |  |  |  |  |
Net income (loss) attributable to CBI |  |  |  |  | $ | (761.7) |
Other comprehensive income (loss) attributable to CBI: |  |  |  |  |
Foreign currency translation adjustments: |  |  |  |  |
Net gain (loss) | $ | (11.1) |  |  | $ | — |  |  | (11.1) |
Amounts reclassified | — |  |  | — |  |  | — |
Net gain (loss) recognized in other comprehensive income (loss) | (11.1) |  |  | — |  |  | (11.1) |
Unrealized gain (loss) on cash flow hedges: |  |  |  |  |
Net derivative gain (loss) | 95.7 |  |  | (13.1) |  |  | 82.6 |
Amounts reclassified | (20.3) |  |  | 1.9 |  |  | (18.4) |
Net gain (loss) recognized in other comprehensive income (loss) | 75.4 |  |  | (11.2) |  |  | 64.2 |
Pension/postretirement adjustments: |  |  |  |  |
Net actuarial gain (loss) | (0.2) |  |  | 0.1 |  |  | (0.1) |
Amounts reclassified | — |  |  | — |  |  | — |
Net gain (loss) recognized in other comprehensive income (loss) | (0.2) |  |  | 0.1 |  |  | (0.1) |
Share of OCI of equity method investments |  |  |  |  |
Net gain (loss) | 0.9 |  |  | 3.4 |  |  | 4.3 |
Amounts reclassified | — |  |  | — |  |  | — |
Net gain (loss) recognized in other comprehensive income (loss) | 0.9 |  |  | 3.4 |  |  | 4.3 |
Other comprehensive income (loss) attributable to CBI | $ | 65.0 |  |  | $ | (7.7) |  |  | 57.3 |
Comprehensive income (loss) attributable to CBI |  |  |  |  | $ | (704.4) |
| Before Tax Amount |  | Tax (Expense) Benefit |  | Net of Tax Amount
(in millions) |  |  |  |  |
For the Three Months Ended August 31, 2023 |  |  |  |  |
Net income (loss) attributable to CBI |  |  |  |  | $ | 690.0 |
Other comprehensive income (loss) attributable to CBI: |  |  |  |  |
Foreign currency translation adjustments: |  |  |  |  |
Net gain (loss) | $ | 160.2 |  |  | $ | — |  |  | 160.2 |
Amounts reclassified | — |  |  | — |  |  | — |
Net gain (loss) recognized in other comprehensive income (loss) | 160.2 |  |  | — |  |  | 160.2 |
Unrealized gain (loss) on cash flow hedges: |  |  |  |  |
Net derivative gain (loss) | 76.4 |  |  | (9.1) |  |  | 67.3 |
Amounts reclassified | (41.7) |  |  | 4.8 |  |  | (36.9) |
Net gain (loss) recognized in other comprehensive income (loss) | 34.7 |  |  | (4.3) |  |  | 30.4 |
Pension/postretirement adjustments: |  |  |  |  |
Net actuarial gain (loss) | (0.2) |  |  | — |  |  | (0.2) |
Amounts reclassified | — |  |  | — |  |  | — |
Net gain (loss) recognized in other comprehensive income (loss) | (0.2) |  |  | — |  |  | (0.2) |
Share of OCI of equity method investments |  |  |  |  |
Net gain (loss) | 1.1 |  |  | — |  |  | 1.1 |
Amounts reclassified | — |  |  | — |  |  | — |
Net gain (loss) recognized in other comprehensive income (loss) | 1.1 |  |  | — |  |  | 1.1 |
Other comprehensive income (loss) attributable to CBI | $ | 195.8 |  |  | $ | (4.3) |  |  | 191.5 |
Comprehensive income (loss) attributable to CBI |  |  |  |  | $ | 881.5 |
For the Three Months Ended August 31, 2022 |  |  |  |  |
Net income (loss) attributable to CBI |  |  |  |  | $ | (1,151.2) |
Other comprehensive income (loss) attributable to CBI: |  |  |  |  |
Foreign currency translation adjustments: |  |  |  |  |
Net gain (loss) | $ | (181.4) |  |  | $ | — |  |  | (181.4) |
Amounts reclassified | — |  |  | — |  |  | — |
Net gain (loss) recognized in other comprehensive income (loss) | (181.4) |  |  | — |  |  | (181.4) |
Unrealized gain (loss) on cash flow hedges: |  |  |  |  |
Net derivative gain (loss) | (9.8) |  |  | 1.7 |  |  | (8.1) |
Amounts reclassified | (10.3) |  |  | 1.0 |  |  | (9.3) |
Net gain (loss) recognized in other comprehensive income (loss) | (20.1) |  |  | 2.7 |  |  | (17.4) |
Pension/postretirement adjustments: |  |  |  |  |
Net actuarial gain (loss) | 0.1 |  |  | 0.1 |  |  | 0.2 |
Amounts reclassified | — |  |  | — |  |  | — |
Net gain (loss) recognized in other comprehensive income (loss) | 0.1 |  |  | 0.1 |  |  | 0.2 |
Share of OCI of equity method investments |  |  |  |  |
Net gain (loss) | 9.9 |  |  | (0.4) |  |  | 9.5 |
Amounts reclassified | — |  |  | — |  |  | — |
Net gain (loss) recognized in other comprehensive income (loss) | 9.9 |  |  | (0.4) |  |  | 9.5 |
Other comprehensive income (loss) attributable to CBI | $ | (191.5) |  |  | $ | 2.4 |  |  | (189.1) |
Comprehensive income (loss) attributable to CBI |  |  |  |  | $ | (1,340.3) |
Accumulated other comprehensive income (loss), net of income tax effect, includes the following components:
| Foreign Currency Translation Adjustments |  | Unrealized Net Gain (Loss) on Derivative Instruments |  |  |  | Pension/ Postretirement Adjustments |  | Share of OCI of Equity Method Investments |  | Accumulated Other Comprehensive Income (Loss)
(in millions) |  |  |  |  |  |  |  |  |  |  |
Balance, February 28, 2023 | $ | (176.4) |  |  | $ | 198.5 |  |  |  |  | $ | (3.9) |  |  | $ | 10.3 |  |  | $ | 28.5 |
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |  |
Other comprehensive income (loss) before reclassification adjustments | 323.6 |  |  | 143.3 |  |  |  |  | (0.4) |  |  | 0.9 |  |  | 467.4 |
Amounts reclassified from accumulated other comprehensive income (loss) | — |  |  | (61.5) |  |  |  |  | — |  |  | — |  |  | (61.5) |
Other comprehensive income (loss) | 323.6 |  |  | 81.8 |  |  |  |  | (0.4) |  |  | 0.9 |  |  | 405.9 |
Balance, August 31, 2023 | $ | 147.2 |  |  | $ | 280.3 |  |  |  |  | $ | (4.3) |  |  | $ | 11.2 |  |  | $ | 434.4 |

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- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(19)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(21)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(23)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//220/tableOfContent + Details
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