NET INCOME PER COMMON SHARE ATTRIBUTABLE TO CBI:
For the six months and three months ended August 31, 2018, and August 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 six months and three months ended August 31, 2018, and August 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:
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For the Six Months Ended |
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August 31, 2018 |
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August 31, 2017 |
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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 |
$ |
1,680.7 |
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$ |
212.6 |
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$ |
801.3 |
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$ |
98.8 |
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Conversion of Class B common shares into Class A common shares |
212.6 |
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— |
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98.8 |
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— |
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Effect of stock-based awards on allocated net income |
— |
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(5.2 |
) |
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— |
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(2.3 |
) |
Net income attributable to CBI allocated – diluted |
$ |
1,893.3 |
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$ |
207.4 |
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$ |
900.1 |
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$ |
96.5 |
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Weighted average common shares outstanding – basic |
167.617 |
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23.325 |
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171.821 |
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|
23.341 |
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Conversion of Class B common shares into Class A common shares |
23.325 |
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— |
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23.341 |
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— |
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Stock-based awards, primarily stock options |
5.526 |
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— |
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6.037 |
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— |
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Weighted average common shares outstanding – diluted |
196.468 |
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23.325 |
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|
201.199 |
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23.341 |
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Net income per common share attributable to CBI – basic |
$ |
10.03 |
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$ |
9.11 |
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$ |
4.66 |
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$ |
4.23 |
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Net income per common share attributable to CBI – diluted |
$ |
9.64 |
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$ |
8.89 |
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$ |
4.47 |
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$ |
4.13 |
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For the Three Months Ended |
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August 31, 2018 |
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August 31, 2017 |
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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 |
$ |
1,020.0 |
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$ |
129.5 |
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$ |
446.6 |
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$ |
55.0 |
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Conversion of Class B common shares into Class A common shares |
129.5 |
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— |
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|
55.0 |
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— |
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Effect of stock-based awards on allocated net income |
— |
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(3.2 |
) |
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— |
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(1.3 |
) |
Net income attributable to CBI allocated – diluted |
$ |
1,149.5 |
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$ |
126.3 |
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$ |
501.6 |
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$ |
53.7 |
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Weighted average common shares outstanding – basic |
167.172 |
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|
23.323 |
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|
172.087 |
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|
23.338 |
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Conversion of Class B common shares into Class A common shares |
23.323 |
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— |
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23.338 |
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— |
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Stock-based awards, primarily stock options |
5.412 |
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— |
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|
5.921 |
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— |
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Weighted average common shares outstanding – diluted |
195.907 |
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|
23.323 |
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|
201.346 |
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|
23.338 |
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Net income per common share attributable to CBI – basic |
$ |
6.11 |
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$ |
5.55 |
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$ |
2.59 |
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$ |
2.36 |
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Net income per common share attributable to CBI – diluted |
$ |
5.87 |
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$ |
5.41 |
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$ |
2.49 |
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$ |
2.30 |
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