CONSTELLATION BRANDS, INC. Leases Disclosure
| Balance Sheet Classification | February 28, 2026 | February 28, 2025 | ||||||||||||
| (in millions) | ||||||||||||||
| Assets | ||||||||||||||
| Operating lease | $ | 582.4 | $ | 545.7 | ||||||||||
| Finance lease | 10.5 | 18.2 | ||||||||||||
| Total right-of-use assets | $ | 592.9 | $ | 563.9 | ||||||||||
| Liabilities | ||||||||||||||
| Current: | ||||||||||||||
| Operating lease | $ | 101.9 | $ | 76.7 | ||||||||||
| Finance lease | 4.1 | 4.1 | ||||||||||||
| Non-current: | ||||||||||||||
| Operating lease | 532.2 | 539.1 | ||||||||||||
| Finance lease | 7.1 | 4.6 | ||||||||||||
| Total lease liabilities | $ | 645.3 | $ | 624.5 | ||||||||||
| For the Years Ended | |||||||||||||||||
| February 28, 2026 | February 28, 2025 | February 29, 2024 | |||||||||||||||
| (in millions) | |||||||||||||||||
| Operating lease cost | $ | 126.8 | $ | 112.6 | $ | 98.2 | |||||||||||
| Finance lease cost: | |||||||||||||||||
| Amortization of right-of-use assets | 5.4 | 7.2 | 9.4 | ||||||||||||||
| Interest on lease liabilities | 0.7 | 1.0 | 1.4 | ||||||||||||||
| Short-term lease cost | 9.2 | 11.5 | 10.5 | ||||||||||||||
| Variable lease cost | 47.0 | 135.2 | 182.1 | ||||||||||||||
| Total lease cost | $ | 189.1 | $ | 267.5 | $ | 301.6 | |||||||||||
| Operating Leases | Finance Leases | ||||||||||
| (in millions) | |||||||||||
| Fiscal 2027 | $ | 128.6 | $ | 5.0 | |||||||
| Fiscal 2028 | 109.4 | 3.0 | |||||||||
| Fiscal 2029 | 85.5 | 1.6 | |||||||||
| Fiscal 2030 | 77.6 | 1.5 | |||||||||
| Fiscal 2031 | 67.6 | 1.5 | |||||||||
| Thereafter | 317.4 | 0.7 | |||||||||
| Total lease payments | 786.1 | 13.3 | |||||||||
| Less: Interest | (152.0) | (2.1) | |||||||||
| Total lease liabilities | $ | 634.1 | $ | 11.2 | |||||||
| For the Years Ended | |||||||||||||||||
| February 28, 2026 | February 28, 2025 | February 29, 2024 | |||||||||||||||
| (in millions) | |||||||||||||||||
Cash paid for amounts included in the measurement of lease liabilities | |||||||||||||||||
| Operating cash flows from operating leases | $ | 132.3 | $ | 114.8 | $ | 99.5 | |||||||||||
| Operating cash flows from finance leases | $ | 0.7 | $ | 1.0 | $ | 1.4 | |||||||||||
| Financing cash flows from finance leases | $ | 4.4 | $ | 7.0 | $ | 9.7 | |||||||||||
Right-of-use assets obtained in exchange for new lease liabilities | |||||||||||||||||
| Operating leases | $ | 188.3 | $ | 63.0 | $ | 268.5 | |||||||||||
| Finance leases | $ | 5.7 | $ | — | $ | — | |||||||||||
| For the Years Ended | |||||||||||||||||
| February 28, 2026 | February 28, 2025 | February 29, 2024 | |||||||||||||||
| (in millions) | |||||||||||||||||
Weighted-average remaining lease term (1) | |||||||||||||||||
| Operating leases | 10.2 years | 11.6 years | 10.7 years | ||||||||||||||
| Finance leases | 4.0 years | 2.3 years | 2.8 years | ||||||||||||||
Weighted-average discount rate | |||||||||||||||||
| Operating leases | 4.5% | 4.2% | 4.3% | ||||||||||||||
| Finance leases | 9.5% | 8.8% | 7.5% | ||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2026 | Apr 22, 2026 | Showing above |
| 2025 | Apr 23, 2025 | |
| 2024 | Apr 23, 2024 | |
| 2023 | Apr 20, 2023 | |
| 2022 | Apr 21, 2022 | |
| 2021 | Apr 20, 2021 | |
| 2020 | Apr 21, 2020 | |
About Leases Disclosures
Lease disclosures under ASC 842 provide a comprehensive view of a company's leased asset portfolio, including the split between operating and finance leases, discount rates used to present-value future payments, and the maturity schedule of lease obligations. This section reveals a significant source of off-balance-sheet commitments that were largely hidden before the current standard.
Key signals: the weighted-average discount rate affects the size of recorded lease liabilities — a higher rate reduces the reported obligation, so compare the chosen rate against the company's incremental borrowing rate. The operating versus finance lease mix affects both EBITDA and operating income presentation. Watch the maturity table for concentration risk: large payment cliffs in specific years may create cash flow pressure. Variable lease payments excluded from the liability measurement represent real obligations that do not appear on the balance sheet. Compare total lease costs against prior-year operating lease expense to assess the true economic burden.