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v3.26.1

Leases | 12 Months Ended
--- | ---
Feb. 28, 2026
Leases [Abstract] |
LEASES | LEASES General We primarily lease certain vineyards, office and production facilities, warehouses, production equipment, and vehicles. We have concluded that certain grape purchasing arrangements associated with the purchase of grape production yielded from a specified block of a vineyard and certain third-party logistics arrangements contain a lease. Balance sheet location A summary of lease right-of-use assets and liabilities are as follows:
| Balance Sheet Classification | February 28, 2026 |  | February 28, 2025
(in millions) |  |  |  |
Assets |  |  |  |
Operating lease | Other assets | $ | 582.4 |  | $ | 545.7
Finance lease | Property, plant, and equipment, net | 10.5 |  | 18.2
Total right-of-use assets |  | $ | 592.9 |  | $ | 563.9
Liabilities |  |  |  |
Current: |  |  |  |
Operating lease | Other accrued expenses and liabilities | $ | 101.9 |  | $ | 76.7
Finance lease | Current maturities of long-term debt | 4.1 |  | 4.1
Non-current: |  |  |  |
Operating lease | Deferred income taxes and other liabilities | 532.2 |  | 539.1
Finance lease | Long-term debt, less current maturities | 7.1 |  | 4.6
Total lease liabilities |  | $ | 645.3 |  | $ | 624.5
Lease cost The components of total lease cost are as follows:
| For the Years Ended
| February 28, 2026 |  | February 28, 2025 |  | February 29, 2024
(in millions) |  |  |  |  |
Operating lease cost | $ | 126.8 |  |  | $ | 112.6 |  |  | $ | 98.2 |
Finance lease cost: |  |  |  |  |
Amortization of right-of-use assets | 5.4 |  |  | 7.2 |  |  | 9.4 |
Interest on lease liabilities | 0.7 |  |  | 1.0 |  |  | 1.4 |
Short-term lease cost | 9.2 |  |  | 11.5 |  |  | 10.5 |
Variable lease cost | 47.0 |  |  | 135.2 |  |  | 182.1 |
Total lease cost | $ | 189.1 |  |  | $ | 267.5 |  |  | $ | 301.6 |
Lease maturities As of February 28, 2026, minimum payments due for lease liabilities for each of the five succeeding fiscal years and thereafter are as follows:
| Operating Leases |  | Finance Leases |  |
(in millions) |  |  |  |  |
Fiscal 2027 | $ | 128.6 |  |  | $ | 5.0 |  |  |
Fiscal 2028 | 109.4 |  |  | 3.0 |  |  |
Fiscal 2029 | 85.5 |  |  | 1.6 |  |  |
Fiscal 2030 | 77.6 |  |  | 1.5 |  |  |
Fiscal 2031 | 67.6 |  |  | 1.5 |  |  |
Thereafter | 317.4 |  |  | 0.7 |  |  |
Total lease payments | 786.1 |  |  | 13.3 |  |  |
Less: Interest | (152.0) |  |  | (2.1) |  |  |
Total lease liabilities | $ | 634.1 |  |  | $ | 11.2 |  |  |
Related party transaction We have a long-term lease for office space with an affiliate of a director. Supplemental information
| For the Years Ended
| February 28, 2026 |  | February 28, 2025 |  | February 29, 2024
(in millions) |  |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |
Operating cash flows from operating leases | $ | 132.3 |  | $ | 114.8 |  | $ | 99.5
Operating cash flows from finance leases | $ | 0.7 |  | $ | 1.0 |  | $ | 1.4
Financing cash flows from finance leases | $ | 4.4 |  | $ | 7.0 |  | $ | 9.7
Right-of-use assets obtained in exchange for new lease liabilities |  |  |  |  |
Operating leases | $ | 188.3 |  | $ | 63.0 |  | $ | 268.5
Finance leases | $ | 5.7 |  | $ | — |  | $ | —
| For the Years Ended
| February 28, 2026 |  | February 28, 2025 |  | February 29, 2024
(in millions) |  |  |  |  |
Weighted-average remaining lease term (1) |  |  |  |  |
Operating leases | 10.2 years |  | 11.6 years |  | 10.7 years
Finance leases | 4.0 years |  | 2.3 years |  | 2.8 years
Weighted-average discount rate |  |  |  |  |
Operating leases | 4.5% |  | 4.2% |  | 4.3%
Finance leases | 9.5% |  | 8.8% |  | 7.5%
(1)Our leases have varying terms with remaining lease terms of up to approximately 29 years. Certain of our lease arrangements provide us with the option to extend or to terminate the lease early.
LEASES | LEASES General We primarily lease certain vineyards, office and production facilities, warehouses, production equipment, and vehicles. We have concluded that certain grape purchasing arrangements associated with the purchase of grape production yielded from a specified block of a vineyard and certain third-party logistics arrangements contain a lease. Balance sheet location A summary of lease right-of-use assets and liabilities are as follows:
| Balance Sheet Classification | February 28, 2026 |  | February 28, 2025
(in millions) |  |  |  |
Assets |  |  |  |
Operating lease | Other assets | $ | 582.4 |  | $ | 545.7
Finance lease | Property, plant, and equipment, net | 10.5 |  | 18.2
Total right-of-use assets |  | $ | 592.9 |  | $ | 563.9
Liabilities |  |  |  |
Current: |  |  |  |
Operating lease | Other accrued expenses and liabilities | $ | 101.9 |  | $ | 76.7
Finance lease | Current maturities of long-term debt | 4.1 |  | 4.1
Non-current: |  |  |  |
Operating lease | Deferred income taxes and other liabilities | 532.2 |  | 539.1
Finance lease | Long-term debt, less current maturities | 7.1 |  | 4.6
Total lease liabilities |  | $ | 645.3 |  | $ | 624.5
Lease cost The components of total lease cost are as follows:
| For the Years Ended
| February 28, 2026 |  | February 28, 2025 |  | February 29, 2024
(in millions) |  |  |  |  |
Operating lease cost | $ | 126.8 |  |  | $ | 112.6 |  |  | $ | 98.2 |
Finance lease cost: |  |  |  |  |
Amortization of right-of-use assets | 5.4 |  |  | 7.2 |  |  | 9.4 |
Interest on lease liabilities | 0.7 |  |  | 1.0 |  |  | 1.4 |
Short-term lease cost | 9.2 |  |  | 11.5 |  |  | 10.5 |
Variable lease cost | 47.0 |  |  | 135.2 |  |  | 182.1 |
Total lease cost | $ | 189.1 |  |  | $ | 267.5 |  |  | $ | 301.6 |
Lease maturities As of February 28, 2026, minimum payments due for lease liabilities for each of the five succeeding fiscal years and thereafter are as follows:
| Operating Leases |  | Finance Leases |  |
(in millions) |  |  |  |  |
Fiscal 2027 | $ | 128.6 |  |  | $ | 5.0 |  |  |
Fiscal 2028 | 109.4 |  |  | 3.0 |  |  |
Fiscal 2029 | 85.5 |  |  | 1.6 |  |  |
Fiscal 2030 | 77.6 |  |  | 1.5 |  |  |
Fiscal 2031 | 67.6 |  |  | 1.5 |  |  |
Thereafter | 317.4 |  |  | 0.7 |  |  |
Total lease payments | 786.1 |  |  | 13.3 |  |  |
Less: Interest | (152.0) |  |  | (2.1) |  |  |
Total lease liabilities | $ | 634.1 |  |  | $ | 11.2 |  |  |
Related party transaction We have a long-term lease for office space with an affiliate of a director. Supplemental information
| For the Years Ended
| February 28, 2026 |  | February 28, 2025 |  | February 29, 2024
(in millions) |  |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |
Operating cash flows from operating leases | $ | 132.3 |  | $ | 114.8 |  | $ | 99.5
Operating cash flows from finance leases | $ | 0.7 |  | $ | 1.0 |  | $ | 1.4
Financing cash flows from finance leases | $ | 4.4 |  | $ | 7.0 |  | $ | 9.7
Right-of-use assets obtained in exchange for new lease liabilities |  |  |  |  |
Operating leases | $ | 188.3 |  | $ | 63.0 |  | $ | 268.5
Finance leases | $ | 5.7 |  | $ | — |  | $ | —
| For the Years Ended
| February 28, 2026 |  | February 28, 2025 |  | February 29, 2024
(in millions) |  |  |  |  |
Weighted-average remaining lease term (1) |  |  |  |  |
Operating leases | 10.2 years |  | 11.6 years |  | 10.7 years
Finance leases | 4.0 years |  | 2.3 years |  | 2.8 years
Weighted-average discount rate |  |  |  |  |
Operating leases | 4.5% |  | 4.2% |  | 4.3%
Finance leases | 9.5% |  | 8.8% |  | 7.5%
(1)Our leases have varying terms with remaining lease terms of up to approximately 29 years. Certain of our lease arrangements provide us with the option to extend or to terminate the lease early.

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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