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Borrowings (Tables)
 12 Months Ended
Feb. 28, 2022
Debt Disclosure [Abstract]  
Borrowings
Borrowings consist of the following:
February 28, 2022February 28,
2021
CurrentLong-termTotalTotal
(in millions)
Short-term borrowings
Commercial paper$323.0 $— 
$323.0 $— 
Long-term debt
Term loan credit facilities$— $300.0 $300.0 $454.4 
Senior notes599.0 9,174.6 9,773.6 9,972.4 
Other6.3 13.6 19.9 15.5 
$605.3 $9,488.2 $10,093.5 $10,442.3 
As of February 28, 2022, aggregate credit facilities under the 2020 Credit Agreement and the June 2021 Term Credit Agreement consist of the following:
AmountMaturity
(in millions)
2020 Credit Agreement
Revolving credit facility (1) (2)
$2,000.0 Sept 14, 2023
June 2021 Term Credit Agreement
Five-Year Term Facility (1) (3)
$491.3 Jun 28, 2024
(1)Contractual interest rate varies based on our debt rating (as defined in the respective agreement) and is a function of LIBOR plus a margin, or the base rate plus a margin, or, in certain circumstances where LIBOR cannot be adequately ascertained or available, an alternative benchmark rate plus a margin.
(2)We and/or CB International are the borrower under the $2,000.0 million revolving credit facility. Includes a sub-facility for letters of credit of up to $200.0 million.
(3)We are the borrower under the Five-Year Term Facility.
As of February 28, 2022, information with respect to borrowings under the 2020 Credit Agreement and the June 2021 Term Credit Agreement is as follows:
Outstanding
borrowings		Interest
rate		LIBOR
margin		Outstanding
letters of
credit
Remaining
borrowing
capacity (1)
(in millions)
2020 Credit Agreement
Revolving credit facility$— — %— %$12.2 $1,664.8 
June 2021 Term Credit Agreement
Five-Year Term Facility (2)
$300.0 1.0 %0.88 %
(1)Net of outstanding revolving credit facility borrowings, outstanding letters of credit under the 2020 Credit Agreement, and outstanding borrowings under our commercial paper program of $323.0 million (excluding unamortized discount) (see “Commercial paper program” below).
(2)Outstanding term loan facility borrowings are net of unamortized debt issuance costs and reflect a partial prepayment of $142.1 million made in June 2021.
Information with respect to our outstanding commercial paper borrowings as of February 28, 2022, is as follows:
(in millions)
Outstanding borrowings (1)
$323.0 
Weighted average annual interest rate0.5 %
Weighted average remaining term4 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,
2022		February 28,
2021
(in millions)
4.25% Senior Notes (2) (3)
$1,050.0 May 2013May 2023May/Nov1,048.6 1,047.5 
4.75% Senior Notes (2) (3)
$400.0 Nov 2014Nov 2024May/Nov398.2 397.6 
4.75% Senior Notes (2) (3)
$400.0 Dec 2015Dec 2025Jun/Dec397.5 396.9 
3.70% Senior Notes (2) (4)
$600.0 Dec 2016Dec 2026Jun/Dec597.1 596.5 
2.70% Senior Notes (2) (5)
$500.0 May 2017May 2022May/Nov— 498.8 
3.50% Senior Notes (2) (4)
$500.0 May 2017May 2027May/Nov497.2 496.5 
4.50% Senior Notes (2) (4)
$500.0 May 2017May 2047May/Nov493.4 493.1 
2.65% Senior Notes (2) (6)
$700.0 Nov 2017Nov 2022May/Nov— 697.1 
3.20% Senior Notes (2) (4)
$600.0 Feb 2018Feb 2023Feb/Aug599.0 598.0 
3.60% Senior Notes (2) (4)
$700.0 Feb 2018Feb 2028Feb/Aug695.7 695.0 
4.10% Senior Notes (2) (4)
$600.0 Feb 2018Feb 2048Feb/Aug592.6 592.3 
4.40% Senior Notes (2) (4)
$500.0 Oct 2018Nov 2025May/Nov497.3 496.6 
4.65% Senior Notes (2) (4)
$500.0 Oct 2018Nov 2028May/Nov496.2 495.6 
5.25% Senior Notes (2) (4)
$500.0 Oct 2018Nov 2048May/Nov493.3 493.1 
3.15% Senior Notes (2) (4)
$800.0 Jul 2019Aug 2029Feb/Aug794.7 793.9 
2.875% Senior Notes (2) (4)
$600.0 Apr 2020May 2030May/Nov594.9 594.3 
3.75% Senior Notes (2) (4)
$600.0 Apr 2020May 2050May/Nov589.9 589.6 
2.25% Senior Notes (2) (4)
$1,000.0 Jul 2021Aug 2031Feb/Aug988.0 — 
$9,773.6 $9,972.4 
(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 adjusted 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 adjusted 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
(5)Redeemed prior to maturity in August 2021 at a redemption price equal to 100% of the outstanding principal amount, plus accrued and unpaid interest and a make-whole payment of $7.7 million. The make-whole payment is included in loss on extinguishment of debt within our consolidated results of operations.
(6)Redeemed prior to maturity in August 2021 at a redemption price equal to 100% of the outstanding principal amount, plus accrued and unpaid interest and a make-whole payment of $18.9 million. The make-whole payment is included in loss on extinguishment of debt within our consolidated results of operations.
Schedule of maturities of long-term debt
As of February 28, 2022, the required principal repayments under long-term debt obligations (excluding unamortized debt issuance costs and unamortized discounts of $57.7 million and $18.7 million, respectively) for each of the five succeeding fiscal years and thereafter are as follows:
(in millions)
Fiscal 2023$606.8 
Fiscal 20241,056.2 
Fiscal 2025703.9 
Fiscal 2026902.0 
Fiscal 2027600.9 
Thereafter6,300.1 
$10,169.9