Borrowings (Tables)

3 Months Ended

May 31, 2026

Borrowings consist of the following:


	May 31, 2026						February 28, 2026
	Current		Long-term		Total		Total
(in millions)
Short-term borrowings

Commercial paper	$	336.3					$	272.0

	$	336.3					$	272.0

Long-term debt


Senior notes	$	1,098.8	$	9,086.4	$	10,185.2	$	10,285.3
Other	3.8		8.5		12.3		11.2
	$	1,102.6	$	9,094.9	$	10,197.5	$	10,296.5

Information with respect to borrowings under the 2025 Credit Agreement is as follows:


	Outstanding borrowings		Interest rate		SOFR margin		Outstanding letters of credit		Remaining borrowing capacity (1)
(in millions)
May 31, 2026
Revolving credit facility (2) (3)	$	—	—	%	—	%	$	10.9	$	1,902.6


February 28, 2026
Revolving credit facility (2) (3)	$	—	—	%	—	%	$	11.3	$	1,966.6

(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 $336.5 million and $272.1

million (excluding unamortized discount) as of May 31, 2026, and February 28, 2026, respectively (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 28, 2030. Includes a sub-facility for letters of credit of up to $200.0 million.

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


	May 31, 2026			February 28, 2026
(in millions)
Outstanding borrowings (1)	$	336.3		$	272.0
Weighted average annual interest rate	4.1		%	3.9		%
Weighted average remaining term	5 days			6 days

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

Schedule of maturities of long-term debt

As of May 31, 2026, the required principal repayments under long-term debt obligations (excluding unamortized debt issuance costs and unamortized discounts of $45.2 million and $19.6 million, respectively) for the remaining nine months of Fiscal 2027 and for each of the five succeeding fiscal years and thereafter are as follows:


(in millions)
Fiscal 2027	$	2.8
Fiscal 2028	1,803.0
Fiscal 2029	902.4
Fiscal 2030	802.0
Fiscal 2031	1,101.4
Fiscal 2032	1,500.6
Thereafter	4,150.1
	$	10,262.3