Remaining lease term



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

Lease maturitiesAs of February 28, 2022, minimum payments due for lease liabilities for each of the five succeeding fiscal years and thereafter are as follows:

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|  | Operating Leases |  | Finance Leases |  |  |
| (in millions) |  |  |  |  |  |
| Fiscal 2023 | $ | 95.1  |  |  | $ | 7.3  |  |  |  |
| Fiscal 2024 | 89.1  |  |  | 6.6  |  |  |  |
| Fiscal 2025 | 73.3  |  |  | 4.2  |  |  |  |
| Fiscal 2026 | 50.5  |  |  | 2.1  |  |  |  |
| Fiscal 2027 | 43.0  |  |  | 0.9  |  |  |  |
| Thereafter | 290.6  |  |  | 0.1  |  |  |  |
| Total lease payments | 641.6  |  |  | 21.2  |  |  |  |
| Less: Interest | (103.9) |  |  | (1.3) |  |  |  |
| Total lease liabilities | $ | 537.7  |  |  | $ | 19.9  |  |  |  |

  
Related party transactionWe have entered into a lease for office space with an affiliate of an executive officer and director that has not yet commenced. As of February 28, 2022, the aggregate minimum payments for this operating lease totaled $38.4 million on an undiscounted basis.  
Supplemental information

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|  | For the Years Ended |
|  | February 28,2022 |  | February 28,2021 |  | February 29,2020 |
| (in millions) |  |  |  |  |  |
| Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |
| Operating cash flows from operating leases | $ | 92.7  |  |  | $ | 93.9  |  |  | $ | 100.7  |  |
| Operating cash flows from finance leases | $ | 0.5  |  |  | $ | 0.5  |  |  | $ | 0.7  |  |
| Financing cash flows from finance leases | $ | 5.9  |  |  | $ | 10.5  |  |  | $ | 13.8  |  |
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| Right-of-use assets obtained in exchange for new lease liabilities: |  |  |  |  |  |
| Operating leases | $ | 93.8  |  |  | $ | 66.3  |  |  | $ | 34.3  |  |
| Finance leases | $ | 10.5  |  |  | $ | 11.6  |  |  | $ | 10.7  |  |
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|  | February 28,2022 |  | February 28,2021 |  | February 29,2020 |
| Weighted-average remaining lease term: (1) |  |  |  |  |  |
| Operating leases | 12.1 years |  | 12.8 years |  | 11.7 years |
| Finance leases | 3.3 years |  | 2.9 years |  | 3.2 years |
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| Weighted-average discount rate: |  |  |  |  |  |
| Operating leases | 3.0  | % |  | 3.2  | % |  | 3.5  | % |
| Finance leases | 3.4  | % |  | 1.2  | % |  | 2.6  | % |

(1)Our leases have varying terms with remaining lease terms of up to approximately 30 years. Certain of our lease arrangements provide us with the option to extend or to terminate the lease early.  


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| Constellation Brands, Inc. FY 2022 Form 10-K | #WORTHREACHINGFOR    I    101 |


