NET INCOME PER COMMON SHARE ATTRIBUTABLE TO CBI:
For the six months and three months ended August 31, 2015, and August 31, 2014, net income per common share – diluted for Class A Common Stock has been computed using the if-converted method and assumes the exercise of stock options using the treasury stock method and the conversion of Class B Convertible Common Stock as this method is more dilutive than the two-class method. For the six months and three months ended August 31, 2015, and August 31, 2014, net income per common share – diluted for Class B Convertible Common Stock has been computed using the two-class method and does not assume conversion of Class B Convertible Common Stock into shares of Class A Common Stock.
The computation of basic and diluted net income per common share is as follows:
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For the Six Months Ended |
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August 31, 2015 |
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August 31, 2014 |
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Common Stock |
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Common Stock |
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Class A |
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Class B |
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Class A |
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Class B |
(in millions, except per share data) |
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Net income attributable to CBI allocated – basic |
$ |
481.6 |
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$ |
59.4 |
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$ |
357.4 |
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$ |
45.1 |
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Conversion of Class B common shares into Class A common shares |
59.4 |
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— |
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45.1 |
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— |
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Effect of stock-based awards on allocated net income |
— |
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(1.8 |
) |
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— |
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(1.9 |
) |
Net income attributable to CBI allocated – diluted |
$ |
541.0 |
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$ |
57.6 |
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$ |
402.5 |
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$ |
43.2 |
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Weighted average common shares outstanding – basic |
171.805 |
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23.370 |
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168.663 |
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|
23.408 |
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Conversion of Class B common shares into Class A common shares |
23.370 |
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— |
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23.408 |
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— |
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Stock-based awards, primarily stock options |
7.809 |
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— |
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8.508 |
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— |
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Weighted average common shares outstanding – diluted |
202.984 |
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23.370 |
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|
200.579 |
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23.408 |
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Net income per common share attributable to CBI – basic |
$ |
2.80 |
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$ |
2.54 |
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$ |
2.12 |
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$ |
1.93 |
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Net income per common share attributable to CBI – diluted |
$ |
2.67 |
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$ |
2.47 |
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$ |
2.01 |
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$ |
1.84 |
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For the Three Months Ended |
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August 31, 2015 |
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August 31, 2014 |
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Common Stock |
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Common Stock |
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Class A |
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Class B |
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Class A |
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Class B |
(in millions, except per share data) |
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Net income attributable to CBI allocated – basic |
$ |
269.3 |
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$ |
33.1 |
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$ |
173.9 |
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$ |
21.9 |
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Conversion of Class B common shares into Class A common shares |
33.1 |
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— |
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21.9 |
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— |
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Effect of stock-based awards on allocated net income |
— |
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(1.0 |
) |
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— |
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(0.9 |
) |
Net income attributable to CBI allocated – diluted |
$ |
302.4 |
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$ |
32.1 |
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$ |
195.8 |
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$ |
21.0 |
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Weighted average common shares outstanding – basic |
172.239 |
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|
23.364 |
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|
169.158 |
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|
23.401 |
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Conversion of Class B common shares into Class A common shares |
23.364 |
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— |
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23.401 |
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— |
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Stock-based awards, primarily stock options |
7.507 |
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— |
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|
8.241 |
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— |
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Weighted average common shares outstanding – diluted |
203.110 |
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|
23.364 |
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|
200.800 |
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|
23.401 |
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Net income per common share attributable to CBI – basic |
$ |
1.56 |
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$ |
1.42 |
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$ |
1.03 |
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$ |
0.93 |
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Net income per common share attributable to CBI – diluted |
$ |
1.49 |
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$ |
1.38 |
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$ |
0.98 |
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$ |
0.90 |
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