Table of Contents We did not incur costs to renew or extend the term of acquired intangible assets for the years ended February 28, 2019, and February 28, 2018. Net carrying amount represents the gross carrying value net of accumulated amortization. Amortization expense for intangible assets was $6.0 million, $5.9 million and $10.4 million for the years ended February 28, 2019, February 28, 2018, and February 28, 2017, respectively. Estimated amortization expense for each of the five succeeding fiscal years and thereafter is as follows: In November 2017, we acquired 18.9 million common shares, which represented a 9.9% ownership interest in Ontario, Canada-based Canopy Growth Corporation (the “November 2017 Canopy Investment”), a public company and leading provider of medicinal and recreational cannabis products (“Canopy”), plus warrants which give us the option to purchase an additional 18.9 million common shares of Canopy (the “November 2017 Canopy Warrants”) for C$245.0 million, or $191.3 million. The November 2017 Canopy Warrants were issued with an exercise price of C$12.98 per warrant share and are exercisable as of February 28, 2019. These warrants expire in May 2020 . The November 2017 Canopy Investment was accounted for at fair value from the date of investment through October 31, 2018. From November 1, 2018, the November 2017 Canopy Investment has been accounted for under the equity method (see “Canopy Equity Method Investment” below). The November 2017 Canopy Warrants have been accounted for at fair value from the date of investment. On November 1, 2018, we increased our ownership interest in Canopy by acquiring an additional 104.5 million common shares (the “November 2018 Canopy Investment”) (see Canopy Equity Method Investment below), plus warrants which give us the option to purchase an additional 139.7 million common shares of Canopy (the “November 2018 Canopy Warrants”, and together with the November 2018 Canopy Investment, the “November 2018 Canopy Transaction”) for C$5,078.7 million, or $3,869.9 million. The allocation of the consideration paid as of the date of closing was determined using a relative fair value approach based upon a market value of C$5,060.9 million for the acquired common shares and a fair value of C$2,131.3 million for the acquired warrants using a Black-Scholes option-pricing model. The inputs used to estimate the fair value of the November 2018 Canopy Warrants as of November 1, 2018, are as follows: (in millions) 2020 $ 5.8 2021 $ 5.4 2022 $ 5.1 2023 $ 3.3 2024 $ 1.6 Thereafter $ 18.8 February 28, 2019 February 28, 2018 Carrying Value Ownership Percentage Carrying Value Ownership Percentage (in millions) Canopy Equity Method Investment $ 3,332.1 36.0 % $ — — % Other equity method investments 133.5 20%-50% 121.5 20%-50% $ 3,465.6 $ 121.5 Our equity method investments are as follows: 10. EQUITY METHOD INVESTMENTS: 78 Issue date exercise price C$ 50.40 Expected volatility 75.9 % Valuation date stock price C$ 48.43 Risk-free interest rate 2.4% Expected life 3.0 years Expected dividend yield 0.0 %