Goodwill (Tables)

12 Months Ended

Feb. 28, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in the carrying amount of goodwill

The changes in the carrying amount of goodwill are as follows:

	Beer		Wine and Spirits		Consolidated
(in millions)
Balance, February 28, 2019	$	5,167.9	$	2,920.9	$	8,088.8
Purchase accounting allocations (1)	—		58.8		58.8
Black Velvet Divestiture	—		(72.2)		(72.2)
Foreign currency translation adjustments	0.2		(9.5)		(9.3)
Reclassified (to) from assets held for sale (2)	(4.7)		(304.3)		(309.0)
Balance, February 29, 2020	5,163.4		2,593.7		7,757.1
Purchase accounting allocations (3)	—		14.3		14.3
Foreign currency translation adjustments	(38.7)		15.9		(22.8)
Reclassified (to) from assets held for sale (2)	0.9		44.0		44.9
Balance, February 28, 2021	$	5,125.6	$	2,667.9	$	7,793.5

(1)Purchase accounting allocations associated primarily with the acquisition of Nelson’s Green Brier.

(2)Primarily in connection with the Wine and Spirits Divestitures, goodwill associated with the businesses being sold was reclassified (to) from assets held for sale based on the relative fair values of the portion of the business being sold and the remaining wine and spirits and beer portfolios. The relative fair values were determined using the income approach based on assumptions, including projected revenue growth rates, terminal growth rate, and discount rate and other projected financial information.

(3)Preliminary purchase accounting allocations associated primarily with the acquisition of Empathy Wines.