Alcohol heavyweight Constellation Brands booked a $2.25 billion goodwill impairment tied to its wine and spirits business, swinging it to a loss for the summer quarter.

Constellation Brands’s stock fell Thursday, after the parent of Modelo and Corona beer brands beat adjusted profit expectations, but only after excluding a large non-cash loss booked for writing down the value of its wine and spirits business.

Key Takeaways Constellation Brands, the maker of Corona and Modelo beers, posted mixed second-quarter results as wine and spirits sales sank.The maker of Modelo Especial and Corona beer posted strong overall beer sales in the quarter.