Stock Analysis on Net
Stock Analysis on Net

Constellation Brands Inc. (NYSE:STZ)

This company has been moved to the archive! The financial data has not been updated since January 5, 2023.

Analysis of Debt

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Total Debt (Carrying Amount)

Constellation Brands Inc., balance sheet: debt

US$ in thousands

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Feb 28, 2022 Feb 28, 2021 Feb 29, 2020 Feb 28, 2019 Feb 28, 2018 Feb 28, 2017
Short-term borrowings 323,000 — 238,900 791,500 746,800 606,500
Current maturities of long-term debt 605,300 29,200 734,900 1,065,200 22,300 910,900
Long-term debt, less current maturities 9,488,200 10,413,100 11,210,800 11,759,800 9,417,600 7,720,700
Total total borrowings (carrying amount) 10,416,500 10,442,300 12,184,600 13,616,500 10,186,700 9,238,100

Based on: 10-K (reporting date: 2022-02-28), 10-K (reporting date: 2021-02-28), 10-K (reporting date: 2020-02-29), 10-K (reporting date: 2019-02-28), 10-K (reporting date: 2018-02-28), 10-K (reporting date: 2017-02-28).

Debt item Description The company
Total total borrowings (carrying amount) Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations. Constellation Brands Inc. total debt decreased from 2020 to 2021 and from 2021 to 2022.

Total Debt (Fair Value)

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Feb 28, 2022
Selected Financial Data (US$ in thousands)
Short-term borrowings 323,000
Long-term debt, including current portion 10,345,300
Total total borrowings (fair value) 10,668,300
Financial Ratio
Debt, fair value to carrying amount ratio 1.02

Based on: 10-K (reporting date: 2022-02-28).

Weighted-average Interest Rate on Debt

Weighted-average interest rate on borrowings: 3.60%

Interest rate Debt amount1 Interest rate × Debt amount Weighted-average interest rate2
1.00% 300,000 3,000
0.50% 323,000 1,615
4.25% 1,048,600 44,566
4.75% 398,200 18,915
4.75% 397,500 18,881
3.70% 597,100 22,093
3.50% 497,200 17,402
4.50% 493,400 22,203
3.20% 599,000 19,168
3.60% 695,700 25,045
4.10% 592,600 24,297
4.40% 497,300 21,881
4.65% 496,200 23,073
5.25% 493,300 25,898
3.15% 794,700 25,033
2.88% 594,900 17,103
3.75% 589,900 22,121
2.25% 988,000 22,230
3.40% 6,300 214
3.40% 13,600 462
Total 10,416,500 375,201
3.60%

Based on: 10-K (reporting date: 2022-02-28).

1 US$ in thousands

2 Weighted-average interest rate = 100 × 375,201 ÷ 10,416,500 = 3.60%

Interest Costs Incurred

Constellation Brands Inc., interest costs incurred

US$ in thousands

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12 months ended: Feb 28, 2022 Feb 28, 2021 Feb 29, 2020 Feb 28, 2019 Feb 28, 2018 Feb 28, 2017
Interest expense 356,400 385,700 428,700 367,100 332,000 333,300
Capitalized interest costs 25,300 31,500 37,200 23,100 17,400 —
Interest costs incurred 381,700 417,200 465,900 390,200 349,400 333,300

Based on: 10-K (reporting date: 2022-02-28), 10-K (reporting date: 2021-02-28), 10-K (reporting date: 2020-02-29), 10-K (reporting date: 2019-02-28), 10-K (reporting date: 2018-02-28), 10-K (reporting date: 2017-02-28).

Debt item Description The company
Interest expense Amount of the cost of borrowed funds accounted for as interest expense for debt. Constellation Brands Inc. interest expense decreased from 2020 to 2021 and from 2021 to 2022.
Capitalized interest costs Amount of interest costs capitalized disclosed as an adjusting item to interest costs incurred. Constellation Brands Inc. capitalized interest costs decreased from 2020 to 2021 and from 2021 to 2022.
Interest costs incurred Total interest costs incurred during the period and either capitalized or charged against earnings. Constellation Brands Inc. interest costs incurred decreased from 2020 to 2021 and from 2021 to 2022.

Adjusted Interest Coverage Ratio

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Feb 28, 2022 Feb 28, 2021 Feb 29, 2020 Feb 28, 2019 Feb 28, 2018 Feb 28, 2017
Selected Financial Data (US$ in thousands)
Net income (loss) attributable to CBI (40,400) 1,998,000 (11,800) 3,435,900 2,318,900 1,535,100
Add: Net income attributable to noncontrolling interest 41,400 33,800 33,200 23,200 11,900 4,100
Add: Income tax expense 309,400 511,100 (966,600) 685,900 11,900 554,200
Add: Interest expense 356,400 385,700 428,700 367,100 332,000 333,300
Earnings before interest and tax (EBIT) 666,800 2,928,600 (516,500) 4,512,100 2,674,700 2,426,700
 
Interest costs incurred 381,700 417,200 465,900 390,200 349,400 333,300
Financial Ratio With and Without Capitalized Interest
Interest coverage ratio (without capitalized interest)1 1.87 7.59 -1.20 12.29 8.06 7.28
Adjusted interest coverage ratio (with capitalized interest)2 1.75 7.02 -1.11 11.56 7.66 7.28

Based on: 10-K (reporting date: 2022-02-28), 10-K (reporting date: 2021-02-28), 10-K (reporting date: 2020-02-29), 10-K (reporting date: 2019-02-28), 10-K (reporting date: 2018-02-28), 10-K (reporting date: 2017-02-28).

2022 Calculations

1 Interest coverage ratio (without capitalized interest) = EBIT ÷ Interest expense
= 666,800 ÷ 356,400 = 1.87

2 Adjusted interest coverage ratio (with capitalized interest) = EBIT ÷ Interest costs incurred
= 666,800 ÷ 381,700 = 1.75

Solvency ratio Description The company
Adjusted interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments (including capitalized interest). Constellation Brands Inc. adjusted interest coverage ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level.