Annual report pursuant to Section 13 and 15(d)

Goodwill

v2.4.0.6
Goodwill
12 Months Ended
Feb. 28, 2013
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL
GOODWILL:

The changes in the carrying amount of goodwill are as follows:
 
Constellation Wines and Spirits
 
Crown
Imports
 
Consolidations
and
Eliminations
 
Consolidated
(in millions)
 
 
 
 
 
 
 
February 28, 2011
 
 
 
 
 
 
 
Goodwill
$
2,619.8

 
$
13.0

 
$
(13.0
)
 
$
2,619.8

Accumulated impairment losses

 

 

 

 
2,619.8

 
13.0

 
(13.0
)
 
2,619.8

Purchase accounting allocations
9.3

 

 

 
9.3

Foreign currency translation adjustments
3.8

 

 

 
3.8

Balance, February 29, 2012
 
 
 
 
 
 
 
Goodwill
2,632.9

 
13.0

 
(13.0
)
 
2,632.9

Accumulated impairment losses

 

 

 

 
2,632.9

 
13.0

 
(13.0
)
 
2,632.9

Purchase accounting allocations
110.0

 

 

 
110.0

Foreign currency translation adjustments
(20.6
)
 

 

 
(20.6
)
Balance, February 28, 2013
 
 
 
 
 
 
 
Goodwill
2,722.3

 
13.0

 
(13.0
)
 
2,722.3

Accumulated impairment losses

 

 

 

 
$
2,722.3

 
$
13.0

 
$
(13.0
)
 
$
2,722.3



Ruffino –
For the year ended February 29, 2012, purchase accounting allocations of $9.3 million in the Constellation Wines and Spirits segment consist of purchase accounting allocations associated with the acquisition of Ruffino S.r.l. (“Ruffino”) (see Note 8).

Mark West –
For the year ended February 28, 2013, purchase accounting allocations of $110.0 million in the Constellation Wines and Spirits segment consist primarily of purchase accounting allocations associated with the acquisition of Mark West (as defined below). In July 2012, the Company acquired Mark West for $159.3 million. The transaction primarily includes the acquisition of the Mark West trademark, related inventories and certain grape supply contracts (“Mark West”). The purchase price was financed with revolver borrowings under the May 2012 Credit Agreement (as defined in Note 10). In accordance with the acquisition method of accounting, the identifiable assets acquired and the liabilities assumed have been measured at their acquisition-date fair values. The acquisition of Mark West was not material for purposes of supplemental disclosure pursuant to the FASB guidance on business combinations. The results of operations of Mark West are reported in the Constellation Wines and Spirits segment and are included in the consolidated results of operations of the Company from the date of acquisition.