Quarterly report pursuant to Section 13 or 15(d)

Goodwill

v3.24.3
Goodwill
 6 Months Ended
Aug. 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 
Purchase accounting allocations (2)
—  70.7  70.7 
Foreign currency translation adjustments (87.6) 2.0  (85.6)
Goodwill impairment
 —  (2,250.0) (2,250.0)
Balance, August 31, 2024 $ 5,150.6  $ 564.8  $ 5,715.4 
(1)Purchase accounting allocations associated with the June 2023 acquisition of the Domaine Curry wine business.
(2)Preliminary purchase accounting allocations associated with the Sea Smoke acquisition.

Acquisition
Sea Smoke
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 goodwill, inventory, and a trademark. The results of operations of Sea Smoke are reported in the Wine and Spirits segment and have been included in our consolidated results of operations from the date of acquisition.

Divestiture
Craft Beer Divestitures
In June 2023, we completed the Craft Beer Divestitures. Prior to the Craft Beer Divestitures, we recorded the results of operations of such craft beer brands in the Beer segment.