Equity method investment, number of common shares acquired (in shares)



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| PART II | ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA | Table of Contents |

Recurring basis measurementsThe following table presents our financial assets and liabilities measured at estimated fair value on a recurring basis:

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|  | Fair Value Measurements Using |  |  |
|  | QuotedPrices inActiveMarkets(Level 1) |  | SignificantOtherObservableInputs(Level 2) |  | SignificantUnobservableInputs(Level 3) |  | Total |
| (in millions) |  |  |  |  |  |  |  |
| February 28, 2022 |  |  |  |  |  |  |  |
| Assets: |  |  |  |  |  |  |  |
| Foreign currency contracts | $ | —  |  |  | $ | 56.4  |  |  | $ | —  |  |  | $ | 56.4  |  |
| Commodity derivative contracts | $ | —  |  |  | $ | 91.0  |  |  | $ | —  |  |  | $ | 91.0  |  |
| November 2018 Canopy Warrants (1) | $ | —  |  |  | $ | 36.3  |  |  | $ | —  |  |  | $ | 36.3  |  |
| Canopy Debt Securities (1) | $ | —  |  |  | $ | 146.6  |  |  | $ | —  |  |  | $ | 146.6  |  |
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| Liabilities: |  |  |  |  |  |  |  |
| Foreign currency contracts | $ | —  |  |  | $ | 17.8  |  |  | $ | —  |  |  | $ | 17.8  |  |
| Commodity derivative contracts | $ | —  |  |  | $ | 0.9  |  |  | $ | —  |  |  | $ | 0.9  |  |
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| Swap lock contracts | $ | —  |  |  | $ | 0.4  |  |  | $ | —  |  |  | $ | 0.4  |  |
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| February 28, 2021 |  |  |  |  |  |  |  |
| Assets: |  |  |  |  |  |  |  |
| Foreign currency contracts | $ | —  |  |  | $ | 76.6  |  |  | $ | —  |  |  | $ | 76.6  |  |
| Commodity derivative contracts | $ | —  |  |  | $ | 21.2  |  |  | $ | —  |  |  | $ | 21.2  |  |
| November 2018 Canopy Warrants (1) | $ | —  |  |  | $ | 1,639.7  |  |  | $ | —  |  |  | $ | 1,639.7  |  |
| Canopy Debt Securities (1) | $ | —  |  |  | $ | 176.3  |  |  | $ | —  |  |  | $ | 176.3  |  |
| Liabilities: |  |  |  |  |  |  |  |
| Foreign currency contracts | $ | —  |  |  | $ | 9.7  |  |  | $ | —  |  |  | $ | 9.7  |  |
| Commodity derivative contracts | $ | —  |  |  | $ | 5.3  |  |  | $ | —  |  |  | $ | 5.3  |  |
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| (1) | Unrealized net gain (loss) from the changes in fair value of our securities measured at fair value recognized in income (loss) from unconsolidated investments, are as follows: |
|  |  |  | February 28,2022 |  | February 28,2021 |
|  | (in millions) |  |  |  |
|  | November 2017 Canopy Warrants (i) | $ | —  |  |  | $ | (61.8) |  |
|  | November 2018 Canopy Warrants | (1,603.4) |  |  | 823.3  |  |
|  | Canopy Debt Securities | (41.3) |  |  | 40.5  |  |
|  |  | $ | (1,644.7) |  |  | $ | 802.0  |  |
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|  | (i) | In May 2020, we exercised the November 2017 Canopy Warrants at an exercise price of C$12.98 per warrant share for C$245.0 million, or $173.9 million, and received 18.9 million common shares of Canopy. |

  


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| Constellation Brands, Inc. FY 2022 Form 10-K | #WORTHREACHINGFOR    I    84 |


