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Borrowings (Tables)
 12 Months Ended
Feb. 28, 2023
Debt Disclosure [Abstract]  
Borrowings
Borrowings consist of the following:
February 28, 2023February 28,
2022
CurrentLong-termTotalTotal
(in millions)
Short-term borrowings
Commercial paper$1,165.3 $323.0 
$1,165.3 $323.0 
Long-term debt
Term loan credit facilities$— $799.2 $799.2 $300.0 
Senior notes— 10,470.6 10,470.6 9,773.6 
Other9.5 16.7 26.2 19.9 
$9.5 $11,286.5 $11,296.0 $10,093.5 
As of February 28, 2023, aggregate credit facilities under the 2022 Credit Agreement, the April 2022 Term Credit Agreement, and the August 2022 Term Credit Agreement consist of the following:
Initial
borrowing
capacity		Maturity
(in millions)
2022 Credit Agreement
Revolving credit facility (1) (2)
$2,250.0 Apr 14, 2027
April 2022 Term Credit Agreement
Five-Year Term Facility (1) (3)
$491.3 Jun 28, 2024
August 2022 Term Credit Agreement
Three-year term facility (1) (3)
$1,000.0 
Nov 10, 2025
(1)Contractual interest rate varies based on our debt rating (as defined in the respective agreement) and is a function of SOFR plus a margin and a credit spread adjustment, or the base rate plus a margin, or, in certain circumstances where SOFR cannot be adequately ascertained or available, an alternative benchmark rate plus a margin.
(2)We and/or CB International are the borrower under the $2,250.0 million revolving credit facility. Includes a sub-facility for letters of credit of up to $200.0 million.
(3)We are the borrower under the term loan credit agreements.

As of February 28, 2023, information with respect to borrowings under the 2022 Credit Agreement, the April 2022 Term Credit Agreement, and the August 2022 Term Credit Agreement is as follows:
Outstanding
borrowings		Interest
rate		SOFR
margin		Outstanding
letters of
credit
Remaining
borrowing
capacity (1)
(in millions)
2022 Credit Agreement
Revolving credit facility$— — %— %$12.0 $1,068.5 
April 2022 Term Credit Agreement
Five-Year Term Facility (2)
$300.0 5.5 %0.88 %
August 2022 Term Credit Agreement
Three-year term facility (3)
$500.0 5.8 %1.13 %
(1)Net of outstanding revolving credit facility borrowings and outstanding letters of credit under the 2022 Credit Agreement and outstanding borrowings under our commercial paper program of $1,169.5 million (excluding unamortized discount) (see “Commercial paper program” below).
(2)Outstanding term loan facility borrowings reflect a partial repayment of $142.1 million made in June 2021.
(3)Outstanding term loan facility borrowings are net of unamortized debt issuance costs and unamortized discount and reflect a partial repayment of $500.0 million made in February 2023.
Information with respect to our outstanding commercial paper borrowings is as follows:
February 28,
2023		February 28,
2022
(in millions)
Outstanding borrowings (1)
$1,165.3 $323.0 
Weighted average annual interest rate5.3 %0.5 %
Weighted average remaining term25 days4 days
(1)Outstanding commercial paper borrowings are net of unamortized discount.
Our outstanding senior notes are as follows:
Date of
Outstanding Balance (1)
PrincipalIssuanceMaturityInterest
Payments		February 28,
2023		February 28,
2022
(in millions)
4.25% Senior Notes (2) (3) (4)
$1,050.0 May 2013May 2023May/Nov— 1,048.6 
4.75% Senior Notes (2) (3)
$400.0 Nov 2014Nov 2024May/Nov398.9 398.2 
4.75% Senior Notes (2) (3)
$400.0 Dec 2015Dec 2025Jun/Dec398.2 397.5 
3.70% Senior Notes (2) (5)
$600.0 Dec 2016Dec 2026Jun/Dec597.7 597.1 
3.50% Senior Notes (2) (5)
$500.0 May 2017May 2027May/Nov497.7 497.2 
4.50% Senior Notes (2) (5)
$500.0 May 2017May 2047May/Nov493.6 493.4 
3.20% Senior Notes (2) (5) (6)
$600.0 Feb 2018Feb 2023Feb/Aug— 599.0 
3.60% Senior Notes (2) (5)
$700.0 Feb 2018Feb 2028Feb/Aug696.4 695.7 
4.10% Senior Notes (2) (5)
$600.0 Feb 2018Feb 2048Feb/Aug592.9 592.6 
4.40% Senior Notes (2) (5)
$500.0 Oct 2018Nov 2025May/Nov498.0 497.3 
4.65% Senior Notes (2) (5)
$500.0 Oct 2018Nov 2028May/Nov496.8 496.2 
5.25% Senior Notes (2) (5)
$500.0 Oct 2018Nov 2048May/Nov493.6 493.3 
3.15% Senior Notes (2) (5)
$800.0 Jul 2019Aug 2029Feb/Aug795.4 794.7 
2.875% Senior Notes (2) (5)
$600.0 Apr 2020May 2030May/Nov595.5 594.9 
3.75% Senior Notes (2) (5)
$600.0 Apr 2020May 2050May/Nov590.3 589.9 
2.25% Senior Notes (2) (5)
$1,000.0 Jul 2021Aug 2031Feb/Aug989.2 988.0 
3.60% Senior Notes (2) (7)
$550.0 May 2022May 2024May/Nov548.5 — 
4.35% Senior Notes (2) (5)
$600.0 May 2022May 2027May/Nov597.1 — 
4.75% Senior Notes (2) (5)
$700.0 May 2022May 2032May/Nov693.7 — 
5.00% Senior Notes (2) (8)
$500.0 Feb 2023Feb 2026Feb/Aug497.1 — 
$10,470.6 $9,773.6 
(1)Amounts are net of unamortized debt issuance costs and unamortized discounts, where applicable.
(2)Senior unsecured obligations which rank equally in right of payment to all of our existing and future senior unsecured indebtedness.
(3)Redeemable, in whole or in part, at our option at any time at a redemption price equal to 100% of the outstanding principal amount, plus accrued and unpaid interest and a make-whole payment based on the present value of the future payments at the applicable treasury rate plus 50 basis points.
(4)In May 2022, we completed a series of cash tender offers. Cash consideration paid for these purchases was $690.6 million and the carrying amount of the notes was $679.4 million, resulting in a loss on extinguishment of debt of $11.2 million (including an immaterial amount of fees and other costs associated with the tender offers), which is included within our consolidated results. In June 2022, we redeemed the remaining outstanding principal balances prior to maturity, plus accrued and unpaid interest and a make-whole payment of $5.7 million. The make-whole payment is included in loss on extinguishment of debt within our consolidated results of operations.
(5)Redeemable, in whole or in part, at our option at any time prior to the stated redemption date as defined in the indenture, at a redemption price equal to 100% of the outstanding principal amount, plus accrued and unpaid interest and a make-whole payment based on the present value of the future payments at the applicable treasury rate plus the stated basis points as defined in the indenture. On or after the stated redemption date, redeemable, in whole or in part, at our option at any time at a redemption price equal to 100% of the outstanding principal amount, plus accrued and unpaid interest.
Redemption
Stated
Redemption
Date		Stated
Basis
Points
3.70% Senior Notes due December 2026Sept 202625
3.50% Senior Notes due May 2027Feb 202720
4.50% Senior Notes due May 2047Nov 204625
3.20% Senior Notes due February 2023Jan 202313
3.60% Senior Notes due February 2028Nov 202715
4.10% Senior Notes due February 2048Aug 204720
4.40% Senior Notes due November 2025Sept 202520
4.65% Senior Notes due November 2028Aug 202825
5.25% Senior Notes due November 2048May 204830
3.15% Senior Notes due August 2029May 202920
2.875% Senior Notes due May 2030Feb 203035
3.75% Senior Notes due May 2050Nov 204940
2.25% Senior Notes due August 2031May 203115
4.35% Senior Notes due May 2027Apr 202725
4.75% Senior Notes due May 2032Feb 203230
(6)In May 2022, we completed a series of cash tender offers. Cash consideration paid for these purchases was $405.3 million and the carrying amount of the notes was $401.2 million, resulting in a loss on extinguishment of debt of $4.1 million (including an immaterial amount of fees and other costs associated with the tender offers), which is included within our consolidated results. In June 2022, we redeemed the remaining outstanding principal balance prior to maturity, plus accrued and unpaid interest and a make-whole payment of $1.8 million. The make-whole payment is included in loss on extinguishment of debt within our consolidated results of operations.
(7)Redeemable, in whole or in part, at our option at any time at a redemption price equal to 100% of the outstanding principal amount, plus accrued and unpaid interest and a make-whole payment based on the present value of the future payments at the applicable treasury rate plus 15 basis points.
(8)Redeemable, in whole or in part, at our option at any time prior to February 2, 2024, (two years before the maturity date as defined in the indenture), at a redemption price equal to 100% of the outstanding principal
amount, plus accrued and unpaid interest and a make-whole payment based on the present value of the future payments at the applicable treasury rate plus 20 basis points. On or after February 2, 2024, redeemable, in whole or in part, at our option at any time at a redemption price equal to 100% of the outstanding principal amount, plus accrued and unpaid interest.
Schedule of maturities of long-term debt
As of February 28, 2023, the required principal repayments under long-term debt obligations (excluding unamortized debt issuance costs and unamortized discounts of $59.0 million and $21.2 million, respectively) for each of the five succeeding fiscal years and thereafter are as follows:
(in millions)
Fiscal 2024$10.4 
Fiscal 20251,256.3 
Fiscal 20261,904.5 
Fiscal 2027603.5 
Fiscal 20281,801.4 
Thereafter5,800.1 
$11,376.2