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Borrowings (Tables)

6 Months Ended

Aug. 31, 2023

Borrowings consist of the following:


	August 31, 2023						February 28, 2023
	Current		Long-term		Total		Total
(in millions)
Short-term borrowings

Commercial paper	$	467.4					$	1,165.3

	$	467.4					$	1,165.3

Long-term debt

Term loan credit facilities	$	—	$	—	$	—	$	799.2
Senior notes	549.2		10,667.2		11,216.4		10,470.6
Other	9.1		13.6		22.7		26.2
	$	558.3	$	10,680.8	$	11,239.1	$	11,296.0

As of August 31, 2023, 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)
2022 Credit Agreement
Revolving credit facility (2) (3)	$	—	—	%	—	%	$	11.5	$	1,770.5

(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 $468.0 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 with a maturity date of April 14, 2027. Includes a sub-facility for letters of credit of up to $200.0 million.

Schedule of maturities of long-term debt

As of August 31, 2023, the required principal repayments under long-term debt obligations (excluding unamortized debt issuance costs and unamortized discounts of $59.1 million and $24.5 million, respectively) for the remaining six months of Fiscal 2024 and for each of the five succeeding fiscal years and thereafter are as follows:


(in millions)
Fiscal 2024	$	5.6
Fiscal 2025	956.6
Fiscal 2026	1,405.0
Fiscal 2027	603.8
Fiscal 2028	1,801.6
Fiscal 2029	500.0
Thereafter	6,050.1
	$	11,322.7