NET INCOME PER COMMON SHARE ATTRIBUTABLE TO CBI:
For the nine months and three months ended November 30, 2018, and November 30, 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 nine months and three months ended November 30, 2018, and November 30, 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 Nine Months Ended |
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November 30, 2018 |
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November 30, 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 |
$ |
1,949.3 |
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$ |
247.1 |
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$ |
1,240.0 |
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$ |
152.9 |
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Conversion of Class B common shares into Class A common shares |
247.1 |
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— |
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152.9 |
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— |
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Effect of stock-based awards on allocated net income |
— |
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(5.6 |
) |
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— |
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(3.6 |
) |
Net income attributable to CBI allocated – diluted |
$ |
2,196.4 |
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$ |
241.5 |
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$ |
1,392.9 |
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$ |
149.3 |
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Weighted average common shares outstanding – basic |
167.203 |
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|
23.322 |
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|
171.854 |
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|
23.339 |
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Conversion of Class B common shares into Class A common shares |
23.322 |
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— |
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23.339 |
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— |
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Stock-based awards, primarily stock options |
5.396 |
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— |
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5.990 |
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— |
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Weighted average common shares outstanding – diluted |
195.921 |
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23.322 |
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|
201.183 |
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23.339 |
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Net income per common share attributable to CBI – basic |
$ |
11.66 |
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$ |
10.59 |
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$ |
7.22 |
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$ |
6.55 |
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Net income per common share attributable to CBI – diluted |
$ |
11.21 |
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$ |
10.35 |
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$ |
6.92 |
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$ |
6.40 |
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For the Three Months Ended |
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November 30, 2018 |
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November 30, 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 |
Net income attributable to CBI allocated – basic |
$ |
268.9 |
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$ |
34.2 |
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$ |
438.7 |
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$ |
54.1 |
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Conversion of Class B common shares into Class A common shares |
34.2 |
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— |
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|
54.1 |
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— |
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Effect of stock-based awards on allocated net income |
— |
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(0.5 |
) |
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— |
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(1.3 |
) |
Net income attributable to CBI allocated – diluted |
$ |
303.1 |
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$ |
33.7 |
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$ |
492.8 |
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$ |
52.8 |
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Weighted average common shares outstanding – basic |
166.364 |
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|
23.318 |
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|
171.922 |
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|
23.333 |
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Conversion of Class B common shares into Class A common shares |
23.318 |
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— |
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23.333 |
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— |
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Stock-based awards, primarily stock options |
5.138 |
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— |
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5.922 |
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— |
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Weighted average common shares outstanding – diluted |
194.820 |
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|
23.318 |
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|
201.177 |
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23.333 |
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Net income per common share attributable to CBI – basic |
$ |
1.62 |
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$ |
1.47 |
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$ |
2.55 |
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$ |
2.32 |
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Net income per common share attributable to CBI – diluted |
$ |
1.56 |
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$ |
1.45 |
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$ |
2.45 |
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$ |
2.26 |
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