Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity

v3.19.3.a.u2
Stockholders' Equity
9 Months Ended
Nov. 30, 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 (2)

 

 

 
(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

Share repurchases

 

 

 
265,593

 

Conversion of shares
6,267

 
(543
)
 
(5,724
)
 

 

Exercise of stock options (1)

 

 

 
(258,628
)
 

Employee stock purchases

 

 

 
(36,840
)
 

Vesting of restricted stock units (2)

 

 

 
(2,148
)
 

Balance at August 31, 2019
185,880,112

 
28,321,821

 
1,012,395

 
18,604,964

 
5,005,800

Conversion of shares
191,233

 
(2,215
)
 
(189,018
)
 

 

Exercise of stock options (1)

 

 

 
(38,154
)
 

Vesting of restricted stock units (2)

 

 

 
(242
)
 

Balance at November 30, 2019
186,071,345

 
28,319,606

 
823,377

 
18,566,568

 
5,005,800

 
 
 
 
 
 
 
 
 
 
 
Common Stock
 
Treasury Stock
 
Class A
 
Class B
 
Class 1
 
Class A
 
Class B
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 (2)

 

 

 
(62,352
)
 

Balance at May 31, 2018
258,940,446

 
28,330,243

 
7,088

 
91,111,003

 
5,005,800

Share repurchases

 

 

 
1,901,637

 

Conversion of shares
2,500

 
(2,500
)
 

 

 

Exercise of stock options
137,219

 

 
2,325

 

 

Employee stock purchases

 

 

 
(34,203
)
 

Grant of restricted stock awards

 

 

 
(3,552
)
 

Vesting of restricted stock units (2)

 

 

 
(3,074
)
 

Balance at August 31, 2018
259,080,165

 
28,327,743

 
9,413

 
92,971,811

 
5,005,800

Retirement of treasury shares (3)
(74,000,000
)
 

 

 
(74,000,000
)
 

Conversion of shares
5,314

 
(5,314
)
 

 

 

Exercise of stock options
428,925

 

 
2,570

 

 

Grant of restricted stock awards

 

 

 
(362
)
 

Vesting of restricted stock units (2)

 

 

 
(715
)
 

Balance at November 30, 2018
185,514,404

 
28,322,429

 
11,983

 
18,970,734

 
5,005,800

(1) 
Includes use of Class A Treasury Stock associated with stock option exercises beginning March 1, 2019.
(2) 
Net of the following shares withheld to satisfy tax withholding requirements:
 
For the Three Months Ended
May 31,
 
For the Three Months Ended
August 31,
 
For the Three Months Ended
November 30,
 
For the Nine Months Ended
November 30,
2019
 
 
 
 
 
 
 
Restricted Stock Units
48,562

 
1,176

 
94

 
49,832

Performance Share Units
17,439

 

 

 
17,439

 
 
 
 
 
 
 
 
2018
 
 
 
 
 
 
 
Restricted Stock Units
12,743

 
2,211

 
402

 
15,356

Performance Share Units
44,016

 

 

 
44,016


(3) 
Shares of our Class A Treasury Stock were retired to authorized and unissued shares of our Class A Common Stock.
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.

For the nine months ended November 30, 2019, we repurchased 265,593 shares of Class A Common Stock pursuant to the 2018 Authorization at an aggregate cost of $50.0 million through open market transactions.

As of November 30, 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

 
$
1,045.9

 
4,897,605