Annual report pursuant to Section 13 and 15(d)

Intangible Assets

v3.21.1
Intangible Assets
 12 Months Ended
Feb. 28, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS INTANGIBLE ASSETS
The major components of intangible assets are as follows:
February 28, 2021 February 29, 2020
Gross
Carrying
Amount		 Net
Carrying
Amount		 Gross
Carrying
Amount		 Net
Carrying
Amount
(in millions)
Amortizable intangible assets
Customer relationships $ 87.2  $ 26.3  $ 87.4  $ 31.8 
Other 21.1  0.2  20.2  0.3 
Total $ 108.3  26.5  $ 107.6  32.1 
Nonamortizable intangible assets
Trademarks 2,705.6  2,686.8 
Total intangible assets $ 2,732.1  $ 2,718.9 

The intangible assets balance at February 29, 2020, excludes intangible assets reclassified to assets held for sale, which consist primarily of trademarks. We did not incur costs to renew or extend the term of acquired intangible assets for the years ended February 28, 2021, February 29, 2020, and February 28, 2019. Net carrying amount represents the gross carrying value net of accumulated amortization. Amortization expense for intangible assets was $5.3 million, $5.7 million, and $6.0 million for the years ended February 28, 2021, February 29, 2020, and February 28, 2019, respectively.
Estimated amortization expense for each of the five succeeding fiscal years and thereafter is as follows:
(in millions)
2022 $ 5.1 
2023 $ 3.2 
2024 $ 1.4 
2025 $ 1.4 
2026 $ 1.4 
Thereafter $ 14.0