Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity

v3.19.2
Stockholders' Equity
3 Months Ended
May 31, 2019
Equity [Abstract]  
STOCKHOLDERS' EQUITY STOCKHOLDERS’ EQUITY

Common stock
The number of shares of common stock issued and treasury stock, and associated share activity, are as follows:
 
Common Stock
 
Treasury Stock
 
Class A
 
Class B
 
Class 1
 
Class A
 
Class B
Balance at February 28, 2019
185,740,178

 
28,322,419

 
1,149,624

 
18,927,966

 
5,005,800

Conversion of shares
133,667

 
(55
)
 
(133,612
)
 

 

Exercise of stock options (1)

 

 
2,107

 
(173,725
)
 

Vesting of restricted stock units (2)

 

 

 
(88,683
)
 

Vesting of performance share units (3)

 

 

 
(29,015
)
 

Cancellation of restricted shares

 

 

 
444

 

Balance at May 31, 2019
185,873,845

 
28,322,364

 
1,018,119

 
18,636,987

 
5,005,800

 
 
 
 
 
 
 
 
 
 
Balance at February 28, 2018
258,718,356

 
28,335,387

 
1,970

 
90,743,239

 
5,005,800

Share repurchases

 

 

 
450,508

 

Conversion of shares
5,144

 
(5,144
)
 

 

 

Exercise of stock options
216,946

 

 
5,118

 

 

Vesting of restricted stock units (2)

 

 

 
(20,392
)
 

Vesting of performance share units (3)

 

 

 
(62,352
)
 

Balance at May 31, 2018
258,940,446

 
28,330,243

 
7,088

 
91,111,003

 
5,005,800

(1) 
Includes use of Class A Treasury Stock associated with stock option exercises beginning March 1, 2019.
(2) 
Net of 48,562 shares and 12,743 shares withheld for the three months ended May 31, 2019, and May 31, 2018, respectively, to satisfy tax withholding requirements.
(3) 
Net of 17,439 shares and 44,016 shares withheld for the three months ended May 31, 2019, and May 31, 2018, respectively, to satisfy tax withholding requirements.
Stock repurchases
In January 2018, our Board of Directors authorized the repurchase of up to $3.0 billion of our Class A Common Stock and Class B Convertible Common Stock (the “2018 Authorization”). The Board of Directors did not specify a date upon which this authorization would expire. Shares repurchased under the 2018 Authorization have become treasury shares.

As of May 31, 2019, total shares repurchased under the 2018 Authorizations are as follows:
 
 
 
Class A Common Shares
 
Repurchase
Authorization
 
Dollar Value
of Shares
Repurchased
 
Number of
Shares
Repurchased
(in millions, except share data)
 
 
 
 
 
2018 Authorization
$
3,000.0

 
$
995.9

 
4,632,012