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Leases (Tables)

12 Months Ended

Feb. 28, 2026

Summary of lease right-of-use assets and liabilities

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 components

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

Operating 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

Finance 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

Supplemental cash flow 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.