The changes in the carrying amount of goodwill for the year ended February 29, 2004, are as follows: The Constellation Wines purchase accounting allocations of goodwill totaling $650.1 million consist of $615.3 million of good- will resulting from the Hardy Acquisition, $33.4 million of goodwill previously included as part of the Company’s investment in PWP, and $1.4 million of goodwill resulting from an immaterial business acquisition. The major components of intangible assets are: The difference between the gross carrying amount and net carrying amount for each item presented is attributable to accumu- lated amortization. Amortization expense for intangible assets was $2.6 million, $2.2 million and $13.4 million for the years ended February 29, 2004, February 28, 2003 and February 28, 2002, respectively. Estimated amortization expense for each of the five succeeding fiscal years is as follows: 6. INTANGIBLE ASSETS: 53 Constellation Constellation Beers and Wines Spirits Consolidated (in thousands) Balance, February 28, 2003 $ 590,263 $ 131,960 $ 722,223 Purchase accounting allocations 650,070 – 650,070 Foreign currency translation adjustments 165,054 1,327 166,381 Purchase price earn-out 2,412 – 2,412 Other (449) – (449) Balance, February 29, 2004 $ 1,407,350 $ 133,287 $ 1,540,637 February 29, 2004 February 28, 2003 Gross Net Gross Net Carrying Carrying Carrying Carrying Amount Amount Amount Amount (in thousands) Amortizable intangible assets: Distribution agreements $ 12,883 $ 4,455 $ 10,158 $ 4,434 Other 4,021 64 4,003 370 Total $ 16,904 4,519 $ 14,161 4,804 Nonamortizable intangible assets: Trademarks 722,047 357,166 Agency relationships 18,412 20,458 Total 740,459 377,624 Total intangible assets $ 744,978 $ 382,428 (in thousands) 2005 $ 2,823 2006 $ 1,318 2007 $ 341 2008 $ 25 2009 $ 12