Fair Value Measurements, Cash, Cash Equivalent and Investments (Tables)

9 Months Ended

Nov. 30, 2025

Cash and Cash Equivalents [Abstract]

Components of Cash, Cash Equivalents and Investments

The components of cash, cash equivalents and investments by fair value level as at November 30, 2025 were as follows:


	Cost Basis (1)		Unrealized Gains		Unrealized Losses		Fair Value		Cash and Cash Equivalents		Short-term Investments		Long-term Investments		Restricted Cash and Cash Equivalents
Bank balances	$	139.8	$	—	$	—	$	139.8	$	139.8	$	—	$	—	$	—
Investments in privately-held companies	51.5		2.3		(1.2)		52.6		—		—		52.6		—
	191.3		2.3		(1.2)		192.4		139.8		—		52.6		—





Level 2:
Term deposits, and certificates of deposits	29.4		—		—		29.4		20.0		—		—		9.4
Bearer deposit notes	25.0		—		—		25.0		18.0		7.0		—		—
Commercial paper	84.7		—		—		84.7		53.2		26.9		—		4.6
Non-U.S. promissory notes	24.2		—		—		24.2		24.2		—		—		—


Non-U.S. treasury bills	15.1		—		—		15.1		15.1		—		—		—


	178.4		—		—		178.4		130.5		33.9		—		14.0

Level 3:

Investments in privately-held companies	2.4		4.3		—		6.7		—		—		6.7		—
	2.4		4.3		—		6.7		—		—		6.7		—
	$	372.1	$	6.6	$	(1.2)	$	377.5	$	270.3	$	33.9	$	59.3	$	14.0

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(1) Cost basis for investments in privately-held companies includes the effect of returns of capital and impairment.

The components of cash, cash equivalents and investments by fair value level as at February 28, 2025 were as follows:


	Cost Basis (1)		Unrealized Gains		Unrealized Losses		Fair Value		Cash and Cash Equivalents		Short-term Investments		Long-term Investments		Restricted Cash and Cash Equivalents
Bank balances	$	223.7	$	—	$	—	$	223.7	$	223.7	$	—	$	—	$	—
Investments in privately-held companies	23.3		4.9		—		28.2		—		—		28.2		—
	247.0		4.9		—		251.9		223.7		—		28.2		—
Level 1:
Equity securities	10.0		—		(10.0)		—		—		—		—		—

Level 2:
Term deposits, and certificates of deposits	39.3		—		—		39.3		—		30.1		—		9.2
Bearer deposit notes	10.3		—		—		10.3		7.3		3.0		—		—
Commercial paper	55.5		—		—		55.5		27.8		27.7		—		—
Non-U.S. promissory notes	9.8		—		—		9.8		7.9		1.9		—		—

Non-U.S. government sponsored enterprise notes	9.3		—		—		9.3		—		4.9		—		4.4


Corporate notes/bonds	3.5		—		—		3.5		—		3.5		—		—
	127.7		—		—		127.7		43.0		71.1		—		13.6
Level 3:

Investments in privately-held companies	30.7		1.2		(1.2)		30.7		—		—		30.7		—

	$	415.4	$	6.1	$	(11.2)	$	410.3	$	266.7	$	71.1	$	58.9	$	13.6

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(1) Cost basis for investments in privately-held companies includes the effect of returns of capital and impairment.

Schedule of Cash and Cash Equivalents

The following table provides a reconciliation of cash, cash equivalents, restricted cash, and restricted cash equivalents as at November 30, 2025 and February 28, 2025 from the consolidated balance sheets to the consolidated statements of cash flows:


	As at
	November 30, 2025		February 28, 2025
Cash and cash equivalents	$	270.3	$	266.7
Restricted cash and cash equivalents	14.0		13.6
Total cash, cash equivalents, restricted cash, and restricted cash equivalents presented in the consolidated statements of cash flows	$	284.3	$	280.3

Contractual Maturities of Available-for-Sale Investments

The contractual maturities of available-for-sale investments as at November 30, 2025 and February 28, 2025 were as follows:


	As at
	November 30, 2025				February 28, 2025
	Cost Basis		Fair Value		Cost Basis		Fair Value
Due in one year or less	$	178.4	$	178.4	$	127.7	$	127.7


No fixed maturity	—		—		10.0		—
	$	178.4	$	178.4	$	137.7	$	127.7