| NET INCOME (LOSS) PER COMMON SHARE ATTRIBUTABLE TO CBI
The computation of basic and diluted net income (loss) per common share is as follows:
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For the Years Ended |
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February 29, 2020 |
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February 28, 2019 |
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February 28, 2018 |
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Common Stock |
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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 |
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Class A |
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Class B |
(in millions, except per share data) |
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Net income (loss) attributable to CBI allocated – basic |
$ |
(10.2 |
) |
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$ |
(1.6 |
) |
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$ |
3,049.5 |
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$ |
386.4 |
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$ |
2,049.9 |
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$ |
253.5 |
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Conversion of Class B common shares into Class A common shares |
— |
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— |
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386.4 |
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— |
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253.5 |
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— |
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Effect of stock-based awards on allocated net income (loss) |
— |
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— |
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— |
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(8.3 |
) |
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— |
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(6.3 |
) |
Net income (loss) attributable to CBI allocated – diluted |
$ |
(10.2 |
) |
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$ |
(1.6 |
) |
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$ |
3,435.9 |
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$ |
378.1 |
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$ |
2,303.4 |
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$ |
247.2 |
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Weighted average common shares outstanding – basic |
168.329 |
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23.313 |
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167.249 |
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23.321 |
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171.457 |
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23.336 |
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Conversion of Class B common shares into Class A common shares (1)
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— |
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— |
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23.321 |
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— |
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23.336 |
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— |
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Stock-based awards, primarily stock options (1)
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— |
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— |
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4.962 |
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— |
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5.952 |
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— |
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Weighted average common shares outstanding – diluted |
168.329 |
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23.313 |
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195.532 |
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23.321 |
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200.745 |
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23.336 |
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Net income (loss) per common share attributable to CBI – basic |
$ |
(0.07 |
) |
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$ |
(0.07 |
) |
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$ |
18.24 |
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$ |
16.57 |
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$ |
11.96 |
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$ |
10.86 |
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Net income (loss) per common share attributable to CBI – diluted |
$ |
(0.07 |
) |
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$ |
(0.07 |
) |
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$ |
17.57 |
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$ |
16.21 |
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$ |
11.47 |
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$ |
10.59 |
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(1)
We have excluded 23,313,300 of Class B Convertible Common Stock and 3,238,780 of shares issuable under the assumed exercise of stock options using the treasury stock method from the calculation of diluted net income (loss) per share for the year ended February 29, 2020, as the effect of including these would have been anti-dilutive.
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