Leases (Tables)

12 Months Ended

Feb. 29, 2024

Leases [Abstract]

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 29, 2024		February 28, 2023
(in millions)
Assets
Operating lease	Other assets	$	615.3	$	442.5
Finance lease	Property, plant, and equipment	18.2		26.9
Total right-of-use assets		$	633.5	$	469.4
Liabilities
Current:
Operating lease	Other accrued expenses and liabilities	$	89.6	$	81.4
Finance lease	Current maturities of long-term debt	7.5		9.5
Non-current:
Operating lease	Deferred income taxes and other liabilities	588.7		417.4
Finance lease	Long-term debt, less current maturities	10.3		16.7
Total lease liabilities		$	696.1	$	525.0

Lease cost components

The components of total lease cost are as follows:

	For the Years Ended
	February 29, 2024		February 28, 2023		February 28, 2022
(in millions)
Operating lease cost	$	98.2	$	96.2	$	89.5
Finance lease cost:
Amortization of right-of-use assets	9.4		9.2		5.8
Interest on lease liabilities	1.4		1.1		0.5
Short-term lease cost	10.5		6.6		8.4
Variable lease cost	182.1		176.5		202.5
Total lease cost	$	301.6	$	289.6	$	306.7

Operating lease maturities

As of February 29, 2024, 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 2025	$	117.2	$	8.5
Fiscal 2026	99.8		5.6
Fiscal 2027	82.4		4.1
Fiscal 2028	72.6		1.6
Fiscal 2029	70.2		—
Thereafter	406.6		0.1
Total lease payments	848.8		19.9
Less: Interest	(170.5)		(2.1)
Total lease liabilities	$	678.3	$	17.8

Finance lease maturities

As of February 29, 2024, 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 2025	$	117.2	$	8.5
Fiscal 2026	99.8		5.6
Fiscal 2027	82.4		4.1
Fiscal 2028	72.6		1.6
Fiscal 2029	70.2		—
Thereafter	406.6		0.1
Total lease payments	848.8		19.9
Less: Interest	(170.5)		(2.1)
Total lease liabilities	$	678.3	$	17.8

Supplemental cash flow information

	For the Years Ended
	February 29, 2024			February 28, 2023			February 28, 2022
(in millions)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	99.5		$	99.7		$	92.7
Operating cash flows from finance leases	$	1.4		$	1.1		$	0.5
Financing cash flows from finance leases	$	9.7		$	8.8		$	5.9
Right-of-use assets obtained in exchange for new lease liabilities:
Operating leases	$	268.5		$	63.2		$	93.8
Finance leases	$	—		$	10.1		$	10.5
	February 29, 2024			February 28, 2023			February 28, 2022
Weighted-average remaining lease term: (1)
Operating leases	10.7 years			11.8 years			12.1 years
Finance leases	2.8 years			3.3 years			3.3 years
Weighted-average discount rate:
Operating leases	4.3		%	3.3		%	3.0		%
Finance leases	7.5		%	6.3		%	3.4		%

(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.