Borrowings (Tables)

3 Months Ended

May 31, 2025

Debt Disclosure [Abstract]

Borrowings

Borrowings consist of the following:

	May 31, 2025						February 28, 2025
	Current		Long-term		Total		Total
(in millions)
Short-term borrowings
Commercial paper	$	377.5					$	806.7
	$	377.5					$	806.7
Long-term debt
Senior notes	$	1,398.6	$	9,782.8	$	11,181.4	$	10,682.3
Other	4.4		3.7		8.1		8.7
	$	1,403.0	$	9,786.5	$	11,189.5	$	10,691.0

Information with respect to borrowings under our bank facilities is as follows:

	Outstanding borrowings		Interest rate		SOFR margin		Outstanding letters of credit		Remaining borrowing capacity
(in millions)
May 31, 2025
Revolving credit facility (1) (2) (3)	$	—	—	%	—	%	$	11.3	$	1,861.1
February 28, 2025
Revolving credit facility (2) (3) (4)	$	—	—	%	—	%	$	11.3	$	1,430.7

(1)Net of outstanding revolving credit facility borrowings and outstanding letters of credit under the 2025 Credit Agreement, and outstanding borrowings under our commercial paper program of $377.6 million (excluding unamortized discount) (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. Includes a sub-facility for letters of credit of up to $200.0 million.

(4)Net of outstanding revolving credit facility borrowings and outstanding letters of credit under our then-existing senior credit facility, and outstanding borrowings under our commercial paper program of $808.0 million (excluding unamortized discount) (see “Commercial paper program” below).

Information with respect to our outstanding commercial paper borrowings is as follows:

	May 31, 2025			February 28, 2025
(in millions)
Outstanding borrowings (1)	$	377.5		$	806.7
Weighted average annual interest rate	4.6		%	4.7		%
Weighted average remaining term	3 days			13 days

(1)Outstanding commercial paper borrowings are net of unamortized discount.

Schedule of maturities of long-term debt

As of May 31, 2025, the required principal repayments under long-term debt obligations (excluding unamortized debt issuance costs and unamortized discounts of $47.8 million and $20.8 million, respectively) for the remaining nine months of Fiscal 2026 and for each of the five succeeding fiscal years and thereafter are as follows:

(in millions)
Fiscal 2026	$	1,403.3
Fiscal 2027	603.3
Fiscal 2028	1,801.3
Fiscal 2029	900.1
Fiscal 2030	800.0
Fiscal 2031	1,100.0
Thereafter	4,650.1
	$	11,258.1