Property, Plant, and Equipment

12 Months Ended

Feb. 28, 2025

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT, AND EQUIPMENT

PROPERTY, PLANT, AND EQUIPMENT

The major components of property, plant, and equipment are as follows:

	February 28, 2025		February 29, 2024
(in millions)
Land and land improvements	$	437.2	$	473.6
Vineyards	128.3		264.6
Buildings and improvements	1,907.9		1,941.6
Machinery and equipment	5,027.7		5,649.0
Motor vehicles	238.5		162.9
Construction in progress (1) (2)	2,218.1		2,296.6
	9,957.7		10,788.3
Less – Accumulated depreciation	(2,547.9)		(2,733.1)
	$	7,409.8	$	8,055.2

(1)We capitalized $74.2 million, $63.7 million, and $36.5 million of interest costs for the years ended February 28, 2025, February 29, 2024, and February 28, 2023, respectively, primarily due to the Mexico Beer Projects.

(2)Initial production at the Veracruz Brewery is expected to commence in late Fiscal 2026 or early Fiscal 2027.

The property, plant, and equipment balance at February 28, 2025, and February 29, 2024, excludes amounts reclassified to assets held for sale. In July 2024, we sold the remaining assets classified as held for sale at the Mexicali Brewery.