Annual report pursuant to Section 13 and 15(d)

Intangible Assets

v3.23.1
Intangible Assets
 12 Months Ended
Feb. 28, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS INTANGIBLE ASSETS
The major components of intangible assets are as follows:
February 28, 2023 February 28, 2022
Gross
Carrying
Amount		 Net
Carrying
Amount		 Gross
Carrying
Amount		 Net
Carrying
Amount
(in millions)
Amortizable intangible assets
Customer relationships $ 85.7  $ 17.7  $ 87.1  $ 21.7 
Other 20.8  —  20.9  — 
Total $ 106.5  17.7  $ 108.0  21.7 
Nonamortizable intangible assets
Trademarks 2,710.4  2,733.5 
Total intangible assets $ 2,728.1  $ 2,755.2 

We did not incur costs to renew or extend the term of acquired intangible assets for the years ended February 28, 2023, February 28, 2022, and February 28, 2021. Net carrying amount represents the gross carrying value net of accumulated amortization. Amortization expense for intangible assets was $3.2 million, $5.1 million, and $5.3 million for the years ended February 28, 2023, February 28, 2022, and February 28, 2021, respectively.

Estimated amortization expense for each of the five succeeding fiscal years and thereafter is as follows:
(in millions)
Fiscal 2024 $ 1.4 
Fiscal 2025 $ 1.3 
Fiscal 2026 $ 1.3 
Fiscal 2027 $ 1.3 
Fiscal 2028 $ 1.3 
Thereafter $ 11.1