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Derivative Instruments (Tables) | 12 Months Ended
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Feb. 28, 2026
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:
| February 28, 2026 |  | February 28, 2025
(in millions) |  |  |
Derivative instruments designated as hedging instruments |  |  |
Foreign currency contracts | $ | 2,080.9 |  | $ | 2,843.6
Net investment hedge contracts | $ | 145.5 |  | $ | —
Pre-issuance hedge contracts | $ | 50.0 |  | $ | 275.0
Derivative instruments not designated as hedging instruments |  |  |
Foreign currency contracts | $ | 522.2 |  | $ | 378.2
Commodity derivative contracts | $ | 335.5 |  | $ | 322.1
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 8):
Assets |  | Liabilities
| February 28, 2026 |  | February 28, 2025 |  |  | February 28, 2026 |  | February 28, 2025
(in millions) |  |  |  |  |  |  |  |
Derivative instruments designated as hedging instruments
Foreign currency contracts:
Prepaid expenses and other | $ | 156.7 |  | $ | 56.2 |  | Other accrued expenses and liabilities | $ | 0.1 |  | $ | 36.9
Other assets | $ | 177.6 |  | $ | 39.3 |  | Deferred income taxes and other liabilities | $ | 0.1 |  | $ | 38.6
Pre-issuance hedge contracts:
Prepaid expenses and other | $ | — |  | $ | 2.2 |  |  | Other accrued expenses and liabilities | $ | — |  | $ | —
Assets |  | Liabilities
| February 28, 2026 |  | February 28, 2025 |  |  | February 28, 2026 |  | February 28, 2025
(in millions) |  |  |  |  |  |  |  |
Net investment hedge contracts:
Other assets | $ | — |  |  | $ | — |  |  | Deferred income taxes and other liabilities | $ | 6.7 |  |  | $ | — |
Derivative instruments not designated as hedging instruments
Foreign currency contracts:
Prepaid expenses and other | $ | 0.4 |  | $ | 1.5 |  | Other accrued expenses and liabilities | $ | 0.9 |  | $ | 0.9
Commodity derivative contracts:
Prepaid expenses and other | $ | 22.4 |  | $ | 7.3 |  | Other accrued expenses and liabilities | $ | 5.3 |  | $ | 8.8
Other assets | $ | 8.8 |  | $ | 2.3 |  | Deferred income taxes and other liabilities | $ | 2.1 |  | $ | 4.0
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 Designated Cash Flow Hedging Relationships |  | Net Gain (Loss) Recognized in OCI |  | Location of Net Gain (Loss) Reclassified from AOCI to Income (Loss) |  | Net Gain (Loss) Reclassified from AOCI to Income (Loss)
(in millions) |  |  |  |  |  |
For the Year Ended February 28, 2026 |  |  |  |  |  |
Foreign currency contracts |  | $ | 364.7 |  |  | Sales |  | $ | 0.9 |
|  |  |  | Cost of product sold |  | 76.4 |
|  |  |  | Selling, general, and administrative expenses |  | 0.3 |
Pre-issuance hedge contracts |  | (5.0) |  |  | Interest expense, net |  | (0.4) |
|  | $ | 359.7 |  |  |  |  | $ | 77.2 |
For the Year Ended February 28, 2025 |  |  |  |  |  |
Foreign currency contracts |  | $ | (161.8) |  |  | Sales |  | $ | 0.8 |
|  |  |  | Cost of product sold |  | 96.3 |
Pre-issuance hedge contracts |  | 2.3 |  |  | Interest expense, net |  | — |
|  | $ | (159.5) |  |  |  |  | $ | 97.1 |
For the Year Ended February 29, 2024 |  |  |  |  |  |
Foreign currency contracts |  | $ | 205.7 |  |  | Sales |  | $ | (0.1) |
|  |  |  | Cost of product sold |  | 137.3 |
Pre-issuance hedge contracts |  | (0.1) |  |  | Interest expense, net |  | (1.6) |
|  | $ | 205.6 |  |  |  |  | $ | 135.6 |
We expect $137.3 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 Designated as Hedging Instruments |  |  |  | Location of Net Gain (Loss) Recognized in Income (Loss) |  | Net Gain (Loss) Recognized in Income (Loss)
(in millions) |  |  |  |  |  |
For the Year Ended February 28, 2026 |  |  |  |  |  |
Commodity derivative contracts |  |  |  | Cost of product sold |  | $ | 23.6
Foreign currency contracts |  |  |  | Selling, general, and administrative expenses |  | 5.5
|  |  |  |  |  | $ | 29.1
For the Year Ended February 28, 2025 |  |  |  |  |  |
Commodity derivative contracts |  |  |  | Cost of product sold |  | $ | (0.3) |
Foreign currency contracts |  |  |  | Selling, general, and administrative expenses |  | (29.7) |
|  |  |  |  |  | $ | (30.0) |
For the Year Ended February 29, 2024 |  |  |  |  |  |
Commodity derivative contracts |  |  |  | Cost of product sold |  | $ | (44.2) |
Foreign currency contracts |  |  |  | Selling, general, and administrative expenses |  | 14.6 |
|  |  |  |  |  | $ | (29.6) |

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