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Borrowings (Tables)
 12 Months Ended
Feb. 29, 2024
Debt Disclosure [Abstract]  
Borrowings
Borrowings consist of the following:
February 29, 2024February 28,
2023
CurrentLong-termTotalTotal
(in millions)
Short-term borrowings
Commercial paper$241.4 $1,165.3 
$241.4 $1,165.3 
Long-term debt
Term loan credit facilities$— $— $— $799.2 
Senior notes949.3 10,670.8 11,620.1 10,470.6 
Other7.5 10.3 17.8 26.2 
$956.8 $10,681.1 $11,637.9 $11,296.0 
Information with respect to borrowings under the 2022 Credit Agreement is as follows:
Outstanding
borrowings		Interest
rate		SOFR
margin		Outstanding
letters of
credit
Remaining
borrowing
capacity (1)
(in millions)
February 29, 2024
Revolving credit facility (2) (3)
$— — %— %$11.5 $1,997.0 
February 28, 2023
Revolving credit facility (2) (3)
$— — %— %$12.0 $1,068.5 
(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 $241.5 million and $1,169.5 million (excluding unamortized discount) for the years ended February 29, 2024, and February 28, 2023, respectively (see “Commercial paper program” below).
(2)Contractual interest rate varies based on our debt rating (as defined in the 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.
(3)We and/or CB International are the borrower under the $2,250.0 million revolving credit facility with a maturity date of April 14, 2027. Includes a sub-facility for letters of credit of up to $200.0 million.
Information with respect to our outstanding commercial paper borrowings is as follows:
February 29,
2024		February 28,
2023
(in millions)
Outstanding borrowings (1)
$241.4 $1,165.3 
Weighted average annual interest rate5.7 %5.3 %
Weighted average remaining term4 days25 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 29,
2024		February 28,
2023
(in millions)
4.75% Senior Notes (2) (3)
$400.0 Nov 2014Nov 2024May/Nov$399.5 $398.9 
4.75% Senior Notes (2) (3)
$400.0 Dec 2015Dec 2025Jun/Dec398.8 398.2 
3.70% Senior Notes (2) (4)
$600.0 Dec 2016Dec 2026Jun/Dec598.3 597.7 
3.50% Senior Notes (2) (4)
$500.0 May 2017May 2027May/Nov498.2 497.7 
4.50% Senior Notes (2) (4)
$500.0 May 2017May 2047May/Nov493.9 493.6 
3.60% Senior Notes (2) (4)
$700.0 Feb 2018Feb 2028Feb/Aug697.1 696.4 
4.10% Senior Notes (2) (4)
$600.0 Feb 2018Feb 2048Feb/Aug593.2 592.9 
4.40% Senior Notes (2) (4)
$500.0 Oct 2018Nov 2025May/Nov498.8 498.0 
4.65% Senior Notes (2) (4)
$500.0 Oct 2018Nov 2028May/Nov497.3 496.8 
5.25% Senior Notes (2) (4)
$500.0 Oct 2018Nov 2048May/Nov493.8 493.6 
3.15% Senior Notes (2) (4)
$800.0 Jul 2019Aug 2029Feb/Aug796.1 795.4 
2.875% Senior Notes (2) (4)
$600.0 Apr 2020May 2030May/Nov596.2 595.5 
3.75% Senior Notes (2) (4)
$600.0 Apr 2020May 2050May/Nov590.6 590.3 
2.25% Senior Notes (2) (4)
$1,000.0 Jul 2021Aug 2031Feb/Aug990.5 989.2 
3.60% Senior Notes (2) (5)
$550.0 May 2022May 2024May/Nov549.8 548.5 
4.35% Senior Notes (2) (4)
$600.0 May 2022May 2027May/Nov597.8 597.1 
4.75% Senior Notes (2) (4)
$700.0 May 2022May 2032May/Nov694.4 693.7 
5.00% Senior Notes (2) (6)
$500.0 Feb 2023Feb 2026Feb/Aug497.9 497.1 
4.90% Senior Notes (2) (4)
$750.0 May 2023May 2033May/Nov740.7 — 
4.80% Senior Notes (2) (4)
$400.0 Jan 2024Jan 2029
Jan/Jul
397.2 — 
$11,620.1 $10,470.6 
(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)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 2026
Sept 202625
3.50% Senior Notes due May 2027
Feb 202720
4.50% Senior Notes due May 2047
Nov 204625
3.60% Senior Notes due February 2028
Nov 202715
4.10% Senior Notes due February 2048
Aug 204720
4.40% Senior Notes due November 2025
Sept 202520
4.65% Senior Notes due November 2028
Aug 202825
5.25% Senior Notes due November 2048
May 204830
3.15% Senior Notes due August 2029
May 202920
2.875% Senior Notes due May 2030
Feb 203035
3.75% Senior Notes due May 2050
Nov 204940
2.25% Senior Notes due August 2031
May 203115
4.35% Senior Notes due May 2027
Apr 202725
4.75% Senior Notes due May 2032
Feb 203230
4.90% Senior Notes due May 2033
Feb 203325
4.80% Senior Notes due January 2029
Dec 202815
(5)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.
(6)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 29, 2024, the required principal repayments under long-term debt obligations (excluding unamortized debt issuance costs and unamortized discounts of $56.4 million and $23.5 million, respectively) for each of the five succeeding fiscal years and thereafter are as follows:
(in millions)
Fiscal 2025$957.5 
Fiscal 20261,404.9 
Fiscal 2027603.8 
Fiscal 20281,801.5 
Fiscal 2029900.0 
Thereafter6,050.1 
$11,717.8