Debt (Tables)

12 Months Ended

Feb. 29, 2020

Debt Instrument [Line Items]

Schedule of Debt [Table Text Block]

(In thousands)		As of February 29 or 28
Debt Description (1)	Maturity Date	2020			2019
Revolving credit facility (2) (3)	June 2024	$	452,740		$	366,529
Term loan (2)	June 2024	300,000			300,000
3.86% Senior notes	April 2023	100,000			100,000
4.17% Senior notes	April 2026	200,000			200,000
4.27% Senior notes	April 2028	200,000			200,000
Financing obligations	Various dates through February 2059	536,739			495,626
Non-recourse notes payable	Various dates through July 2026	13,613,272			12,535,405
Total debt		15,402,751			14,197,560
Less: current portion		(433,456		)	(396,350		)
Less: unamortized debt issuance costs		(25,240		)	(24,676		)
Long-term debt, net		$	14,944,055		$	13,776,534

 ⁽¹⁾  Interest is payable monthly, with the exception of our senior notes, which are payable semi-annually.

 ⁽²⁾  Borrowings accrue interest at variable rates based on LIBOR, the federal funds rate, or the prime rate, depending on the type of borrowing.

⁽³⁾

During March 2020, we made net borrowings under this facility of approximately $675 million, following which more than $300 million in unused borrowing capacity remained.

Schedule of Maturities of Long-term Debt [Table Text Block]

(In thousands)	As of February 29, 2020
Fiscal 2021	$	52,504
Fiscal 2022	55,621
Fiscal 2023	52,343
Fiscal 2024	54,638
Fiscal 2025	53,310
Thereafter	887,650
Total payments	1,156,066
Less: interest	(619,327		)
Present value of financing obligations	$	536,739

Schedule of Funding Vehicles [Table Text Block]

(in billions)	Capacity
Warehouse facilities
August 2020 expiration	$	1.40
September 2020 expiration	0.15
February 2021 expiration	1.95
Combined warehouse facility limit	$	3.50
Unused capacity	$	1.32
Non-recourse notes payable outstanding:
Warehouse facilities	$	2.18
Asset-backed term funding transactions	11.43
Non-recourse notes payable	$	13.61