Annual report [Section 13 and 15(d), not S-K Item 405]

Intangible Assets

v3.25.1
Intangible Assets
 12 Months Ended
Feb. 28, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS INTANGIBLE ASSETS
The major components of intangible assets are as follows:
February 28, 2025 February 29, 2024
Gross
Carrying
Amount		 Net
Carrying
Amount		 Gross
Carrying
Amount		 Net
Carrying
Amount
(in millions)
Amortizable intangible assets
Customer relationships $ 85.3  $ 14.9  $ 85.3  $ 16.2 
Other 20.7  0.3  20.8  0.3 
Total $ 106.0  15.2  $ 106.1  16.5 
Nonamortizable intangible assets
Trademarks (1)
2,517.1  2,715.2 
Total intangible assets $ 2,532.3  $ 2,731.7 
(1)The balance at February 28, 2025, was impacted by (i) assets reclassified to held for sale and (ii) a wine asset impairment.

We did not incur costs to renew or extend the term of acquired intangible assets for the years ended February 28, 2025, February 29, 2024, and February 28, 2023. Net carrying amount represents the gross carrying value net of accumulated amortization. Amortization expense for intangible assets was $1.3 million, $1.3 million, and $3.2 million for the years ended February 28, 2025, February 29, 2024, and February 28, 2023, respectively.

Estimated amortization expense for each of the five succeeding fiscal years and thereafter is as follows:
(in millions)
Fiscal 2026 $ 1.3 
Fiscal 2027 $ 1.3 
Fiscal 2028 $ 1.3 
Fiscal 2029 $ 1.3 
Fiscal 2030 $ 1.3 
Thereafter $ 8.7