Quarterly report pursuant to Section 13 or 15(d)

Goodwill

v3.21.2
Goodwill
 3 Months Ended
May 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL GOODWILL
The changes in the carrying amount of goodwill are as follows:
Beer Wine and Spirits Consolidated
(in millions)
Balance, February 29, 2020 $ 5,163.4  $ 2,593.7  $ 7,757.1 
Purchase accounting allocations (1)
—  14.3  14.3 
Foreign currency translation adjustments (38.7) 15.9  (22.8)
Reclassified from assets held for sale (2)
0.9  44.0  44.9 
Balance, February 28, 2021 5,125.6  2,667.9  7,793.5 
Foreign currency translation adjustments 14.8  0.6  15.4 
Balance, May 31, 2021 $ 5,140.4  $ 2,668.5  $ 7,808.9 
(1)Purchase accounting allocations associated with the acquisition of Empathy Wines.
(2)Primarily in connection with the Wine and Spirits Divestitures, goodwill associated with the businesses being sold was reclassified from assets held for sale based on the changes to relative fair values of the portion of the business being sold and the remaining wine and spirits and beer portfolios. The relative fair values were determined using the income approach based on assumptions, including projected revenue growth rates, terminal growth rate, and discount rate and other projected financial information.