Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Common Share

v2.4.0.6
Earnings Per Common Share
 9 Months Ended
Nov. 30, 2012
Earnings Per Share [Abstract]  
EARNINGS PER COMMON SHARE
EARNINGS PER COMMON SHARE:

Earnings per common share – basic excludes the effect of common stock equivalents and is computed using the two-class computation method. Earnings per common share – diluted for Class A Common Stock reflects the potential dilution that could result if securities or other contracts to issue common stock were exercised or converted into common stock. Earnings per common share – diluted for Class A Common Stock has been computed using the more dilutive of the if-converted or two-class computation method. Using the if-converted method, earnings per common share – diluted for Class A Common Stock assumes the exercise of stock options using the treasury stock method and the conversion of Class B Convertible Common Stock. Using the two-class computation method, earnings per common share – diluted for Class A Common Stock assumes the exercise of stock options using the treasury stock method and no conversion of Class B Convertible Common Stock. For the nine months and three months ended November 30, 2012, and November 30, 2011, earnings per common share – diluted for Class A Common Stock has been calculated using the if-converted method. For the nine months and three months ended November 30, 2012, and November 30, 2011, earnings per common share – diluted for Class B Convertible Common Stock is presented without assuming conversion into Class A Common Stock and is computed using the two-class computation method.

The computation of basic and diluted earnings per common share is as follows:

 
For the Nine Months
Ended November 30,
 
For the Three Months
Ended November 30,
 
2012
 
2011
 
2012
 
2011
(in millions, except per share data)
 
 
 
 
 
 
 
Income available to common stockholders
$
306.1

 
$
342.0

 
$
109.5

 
$
104.8

 
 
 
 
 
 
 
 
Weighted average common shares outstanding – basic:
 
 
 
 
 
 
 
Class A Common Stock
158.442

 
183.348

 
158.270

 
176.293

Class B Convertible Common Stock
23.538

 
23.594

 
23.524

 
23.585

 
 
 
 
 
 
 
 
Weighted average common shares outstanding – diluted:
 
 
 
 
 
 
 
Class A Common Stock
158.442

 
183.348

 
158.270

 
176.293

Class B Convertible Common Stock
23.538

 
23.594

 
23.524

 
23.585

Stock-based awards, primarily stock options
6.662

 
3.724

 
7.902

 
3.055

Weighted average common shares outstanding – diluted
188.642

 
210.666

 
189.696

 
202.933

 
 
 
 
 
 
 
 
Earnings per common share – basic:
 
 
 
 
 
 
 
Class A Common Stock
$
1.70

 
$
1.67

 
$
0.61

 
$
0.53

Class B Convertible Common Stock
$
1.55

 
$
1.52

 
$
0.55

 
$
0.48

Earnings per common share – diluted:
 
 
 
 
 
 
 
Class A Common Stock
$
1.62

 
$
1.62

 
$
0.58

 
$
0.52

Class B Convertible Common Stock
$
1.49

 
$
1.49

 
$
0.53

 
$
0.47



For the nine months ended November 30, 2012, and November 30, 2011, stock-based awards, primarily stock options, which could result in the issuance of 2.2 million and 9.2 million shares, respectively, of Class A Common Stock were outstanding, but were not included in the computation of earnings per common share – diluted for Class A Common Stock because the effect of including such awards would have been antidilutive. Stock-based awards outstanding whose impact would have been antidilutive in the computation of earnings per common share – diluted for Class A Common Stock for the three months ended November 30, 2012, were not material. For the three months ended November 30, 2011, stock-based awards, primarily stock options, which could result in the issuance of 9.6 million shares of Class A Common Stock were outstanding, but were not included in the computation of earnings per common share – diluted for Class A Common Stock because the effect of including such awards would have been antidilutive.