Quarterly report pursuant to Section 13 or 15(d)

Net Income Per Common Share Attributable to CBI

v3.8.0.1
Net Income Per Common Share Attributable to CBI
6 Months Ended
Aug. 31, 2017
Earnings Per Share [Abstract]  
NET INCOME PER COMMON SHARE ATTRIBUTABLE TO CBI
NET INCOME PER COMMON SHARE ATTRIBUTABLE TO CBI:

For the six months and three months ended August 31, 2017, and August 31, 2016, 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, 2017, and August 31, 2016, 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 Six Months Ended
 
August 31, 2017
 
August 31, 2016
 
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
$
803.2

 
$
99.1

 
$
604.9

 
$
72.3

Conversion of Class B common shares into Class A common shares
99.1

 

 
72.3

 

Effect of stock-based awards on allocated net income

 
(2.4
)
 

 
(1.4
)
Net income attributable to CBI allocated – diluted
$
902.3

 
$
96.7

 
$
677.2

 
$
70.9

 
 
 
 
 
 
 
 
Weighted average common shares outstanding – basic
171.821

 
23.341

 
177.001

 
23.353

Conversion of Class B common shares into Class A common shares
23.341

 

 
23.353

 

Stock-based awards, primarily stock options
6.037

 

 
5.154

 

Weighted average common shares outstanding – diluted
201.199

 
23.341

 
205.508

 
23.353

 
 
 
 
 
 
 
 
Net income per common share attributable to CBI – basic
$
4.67

 
$
4.24

 
$
3.42

 
$
3.10

Net income per common share attributable to CBI – diluted
$
4.48

 
$
4.14

 
$
3.30

 
$
3.04

 
 
 
 
 
 
 
 
 
For the Three Months Ended
 
August 31, 2017
 
August 31, 2016
 
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
$
444.7

 
$
54.8

 
$
320.7

 
$
38.2

Conversion of Class B common shares into Class A common shares
54.8

 

 
38.2

 

Effect of stock-based awards on allocated net income

 
(1.3
)
 

 
(0.7
)
Net income attributable to CBI allocated – diluted
$
499.5

 
$
53.5

 
$
358.9

 
$
37.5

 
 
 
 
 
 
 
 
Weighted average common shares outstanding – basic
172.087

 
23.338

 
177.460

 
23.353

Conversion of Class B common shares into Class A common shares
23.338

 

 
23.353

 

Stock-based awards, primarily stock options
5.921

 

 
4.837

 

Weighted average common shares outstanding – diluted
201.346

 
23.338

 
205.650

 
23.353

 
 
 
 
 
 
 
 
Net income per common share attributable to CBI – basic
$
2.58

 
$
2.35

 
$
1.81

 
$
1.64

Net income per common share attributable to CBI – diluted
$
2.48

 
$
2.29

 
$
1.75

 
$
1.61