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
 3 Months Ended
May 31, 2018
Earnings Per Share [Abstract]  
NET INCOME PER COMMON SHARE ATTRIBUTABLE TO CBI
NET INCOME PER COMMON SHARE ATTRIBUTABLE TO CBI:

For the three months ended May 31, 2018, and May 31, 2017, 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, 2018, and May 31, 2017, 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, 2018
 
May 31, 2017
 
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
$
660.6

 
$
83.2

 
$
354.7

 
$
43.8

Conversion of Class B common shares into Class A common shares
83.2

 
—

 
43.8

 
—

Effect of stock-based awards on allocated net income
—

 
(1.9
)
 
—

 
(1.0
)
Net income attributable to CBI allocated – diluted
$
743.8

 
$
81.3

 
$
398.5

 
$
42.8

 
 
 
 
 
 
 
 
Weighted average common shares outstanding – basic
168.063

 
23.326

 
171.555

 
23.344

Conversion of Class B common shares into Class A common shares
23.326

 
—

 
23.344

 
—

Stock-based awards, primarily stock options
5.671

 
—

 
6.131

 
—

Weighted average common shares outstanding – diluted
197.060

 
23.326

 
201.030

 
23.344

 
 
 
 
 
 
 
 
Net income per common share attributable to CBI – basic
$
3.93

 
$
3.57

 
$
2.07

 
$
1.88

Net income per common share attributable to CBI – diluted
$
3.77

 
$
3.48

 
$
1.98

 
$
1.83