NET INCOME PER COMMON SHARE ATTRIBUTABLE TO CBI:
For the nine months and three months ended November 30, 2017, and November 30, 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 nine months and three months ended November 30, 2017, and November 30, 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:
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For the Nine Months Ended |
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November 30, 2017 |
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November 30, 2016 |
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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 |
$ |
1,240.4 |
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$ |
153.0 |
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$ |
967.5 |
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$ |
115.6 |
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Conversion of Class B common shares into Class A common shares |
153.0 |
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— |
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|
115.6 |
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— |
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Effect of stock-based awards on allocated net income |
— |
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(3.6 |
) |
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— |
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(2.2 |
) |
Net income attributable to CBI allocated – diluted |
$ |
1,393.4 |
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$ |
149.4 |
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$ |
1,083.1 |
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$ |
113.4 |
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Weighted average common shares outstanding – basic |
171.854 |
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|
23.339 |
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|
177.171 |
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|
23.353 |
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Conversion of Class B common shares into Class A common shares |
23.339 |
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— |
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23.353 |
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— |
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Stock-based awards, primarily stock options |
5.990 |
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— |
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4.960 |
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— |
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Weighted average common shares outstanding – diluted |
201.183 |
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23.339 |
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|
205.484 |
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23.353 |
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Net income per common share attributable to CBI – basic |
$ |
7.22 |
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$ |
6.55 |
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$ |
5.46 |
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$ |
4.95 |
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Net income per common share attributable to CBI – diluted |
$ |
6.93 |
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$ |
6.40 |
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$ |
5.27 |
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$ |
4.86 |
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For the Three Months Ended |
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November 30, 2017 |
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November 30, 2016 |
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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 |
$ |
437.2 |
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$ |
53.9 |
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$ |
362.6 |
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$ |
43.3 |
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Conversion of Class B common shares into Class A common shares |
53.9 |
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— |
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|
43.3 |
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— |
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Effect of stock-based awards on allocated net income |
— |
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(1.3 |
) |
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— |
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(0.8 |
) |
Net income attributable to CBI allocated – diluted |
$ |
491.1 |
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$ |
52.6 |
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$ |
405.9 |
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$ |
42.5 |
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Weighted average common shares outstanding – basic |
171.922 |
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|
23.333 |
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|
177.513 |
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23.353 |
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Conversion of Class B common shares into Class A common shares |
23.333 |
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— |
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23.353 |
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— |
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Stock-based awards, primarily stock options |
5.922 |
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— |
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4.589 |
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— |
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Weighted average common shares outstanding – diluted |
201.177 |
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|
23.333 |
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|
205.455 |
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23.353 |
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Net income per common share attributable to CBI – basic |
$ |
2.54 |
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$ |
2.31 |
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$ |
2.04 |
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$ |
1.85 |
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Net income per common share attributable to CBI – diluted |
$ |
2.44 |
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$ |
2.26 |
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$ |
1.98 |
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$ |
1.82 |
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