Quarterly report pursuant to Section 13 or 15(d)

Goodwill

v3.24.2
Goodwill
 3 Months Ended
May 31, 2024
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 28, 2023 $ 5,188.9  $ 2,736.5  $ 7,925.4 
Purchase accounting allocations (1)
—  6.5  6.5 
Foreign currency translation adjustments 49.3  (0.9) 48.4 
Balance, February 29, 2024 5,238.2  2,742.1  7,980.3 
Foreign currency translation adjustments 4.4  0.7  5.1 
Balance, May 31, 2024 $ 5,242.6  $ 2,742.8  $ 7,985.4 
(1)Purchase accounting allocations associated with the June 2023 acquisition of the Domaine Curry wine business.

If broader industry and market conditions decline and/or our expectations of future performance as reflected in our current strategic operating plans are not fully realized, a future impairment of Wine and Spirits goodwill is reasonably possible.

Subsequent event
Sea Smoke acquisition
In June 2024, we acquired the Sea Smoke business, including a California-based luxury wine brand, vineyards, and a production facility for $170.0 million, subject to adjustments. This transaction also included the acquisition of a trademark, inventory, and goodwill. The results of operations of Sea Smoke will be reported in the Wine and Spirits segment and will be included in our consolidated results of operations from the date of acquisition.