Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

v3.24.3
Intangible Assets
 6 Months Ended
Aug. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS INTANGIBLE ASSETS
The major components of intangible assets are as follows:
August 31, 2024 February 29, 2024
Gross
Carrying
Amount		 Net
Carrying
Amount		 Gross
Carrying
Amount		 Net
Carrying
Amount
(in millions)
Amortizable intangible assets
Customer relationships $ 85.4  $ 15.5  $ 85.3  $ 16.2 
Other 20.8  0.3  20.8  0.3 
Total $ 106.2  15.8  $ 106.1  16.5 
Nonamortizable intangible assets
Trademarks 2,747.2  2,715.2 
Total intangible assets $ 2,763.0  $ 2,731.7 
We did not incur costs to renew or extend the term of acquired intangible assets for the six months and three months ended August 31, 2024, and August 31, 2023. Net carrying amount represents the gross carrying value net of accumulated amortization.

Additionally, as of August 31, 2024, in connection with the assessment of the same events and circumstances triggering the interim goodwill impairment test for the Wine and Spirits reporting unit, we completed an interim impairment test of our wine and spirits trademarks. We performed qualitative evaluations considering the results of the most recent fair value measurements as of January 1, 2024, and the likely impact of the negative trends for our Wine and Spirits business on the fair values of the trademarks and concluded it is more likely than not that the fair values of these intangible assets exceeded their carrying amounts.