Constellation Brands, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Net Income Per Common Share Attributable to CBI

Net Income Per Common Share Attributable to CBI

3 Months Ended

May 31, 2016

NET INCOME PER COMMON SHARE ATTRIBUTABLE TO CBI

NET INCOME PER COMMON SHARE ATTRIBUTABLE TO CBI:

For the three months ended May 31, 2016, and May 31, 2015, 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 three months ended May 31, 2016, and May 31, 2015, 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:



	For the Three Months Ended
	May 31, 2016					May 31, 2015
	Common Stock					Common Stock
	Class A		Class B			Class A		Class B
(in millions, except per share data)
Net income attributable to CBI allocated – basic	$	284.2	$	34.1		$	212.3	$	26.3
Conversion of Class B common shares into Class A common shares	34.1		—			26.3		—
Effect of stock-based awards on allocated net income	—		(0.7		)	—		(0.8		)
Net income attributable to CBI allocated – diluted	$	318.3	$	33.4		$	238.6	$	25.5

Weighted average common shares outstanding – basic	176.542		23.353			171.370		23.376
Conversion of Class B common shares into Class A common shares	23.353		—			23.376		—
Stock-based awards, primarily stock options	5.472		—			8.109		—
Weighted average common shares outstanding – diluted	205.367		23.353			202.855		23.376

Net income per common share attributable to CBI – basic	$	1.61	$	1.46		$	1.24	$	1.12
Net income per common share attributable to CBI – diluted	$	1.55	$	1.43		$	1.18	$	1.09