NET INCOME PER COMMON SHARE ATTRIBUTABLE TO CBI:
For the nine months and three months ended November 30, 2015, and November 30, 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 nine months and three months ended November 30, 2015, and November 30, 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 Nine Months Ended |
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November 30, 2015 |
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November 30, 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 |
$ |
722.7 |
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$ |
88.8 |
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$ |
554.9 |
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$ |
69.8 |
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Conversion of Class B common shares into Class A common shares |
88.8 |
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— |
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69.8 |
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— |
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Effect of stock-based awards on allocated net income |
— |
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(2.6 |
) |
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— |
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(2.9 |
) |
Net income attributable to CBI allocated – diluted |
$ |
811.5 |
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$ |
86.2 |
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$ |
624.7 |
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$ |
66.9 |
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Weighted average common shares outstanding – basic |
172.509 |
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23.366 |
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168.968 |
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|
23.401 |
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Conversion of Class B common shares into Class A common shares |
23.366 |
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— |
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23.401 |
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— |
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Stock-based awards, primarily stock options |
7.481 |
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— |
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8.474 |
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— |
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Weighted average common shares outstanding – diluted |
203.356 |
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23.366 |
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200.843 |
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23.401 |
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Net income per common share attributable to CBI – basic |
$ |
4.19 |
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$ |
3.80 |
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$ |
3.28 |
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$ |
2.99 |
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Net income per common share attributable to CBI – diluted |
$ |
3.99 |
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$ |
3.69 |
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$ |
3.11 |
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$ |
2.86 |
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For the Three Months Ended |
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November 30, 2015 |
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November 30, 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 |
$ |
241.1 |
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$ |
29.4 |
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$ |
197.5 |
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$ |
24.7 |
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Conversion of Class B common shares into Class A common shares |
29.4 |
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— |
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24.7 |
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— |
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Effect of stock-based awards on allocated net income |
— |
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(0.8 |
) |
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— |
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(1.0 |
) |
Net income attributable to CBI allocated – diluted |
$ |
270.5 |
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$ |
28.6 |
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$ |
222.2 |
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$ |
23.7 |
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Weighted average common shares outstanding – basic |
173.933 |
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|
23.358 |
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|
169.585 |
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|
23.387 |
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Conversion of Class B common shares into Class A common shares |
23.358 |
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— |
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23.387 |
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— |
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Stock-based awards, primarily stock options |
6.805 |
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— |
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|
8.304 |
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— |
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Weighted average common shares outstanding – diluted |
204.096 |
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23.358 |
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|
201.276 |
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23.387 |
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Net income per common share attributable to CBI – basic |
$ |
1.39 |
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$ |
1.26 |
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$ |
1.16 |
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$ |
1.06 |
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Net income per common share attributable to CBI – diluted |
$ |
1.33 |
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$ |
1.22 |
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$ |
1.10 |
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$ |
1.01 |
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