| Summary of selected quarterly financial information |
A summary of selected quarterly financial information is as follows:
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For the Quarters Ended |
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May 31,
2019 |
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August 31,
2019 |
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November 30,
2019 |
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February 29,
2020 |
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Full Year |
(in millions, except per share data) |
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Fiscal 2020 |
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Net sales |
$ |
2,097.2 |
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$ |
2,344.0 |
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$ |
1,999.4 |
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$ |
1,902.9 |
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$ |
8,343.5 |
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Gross profit |
$ |
1,028.7 |
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$ |
1,185.9 |
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$ |
987.5 |
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$ |
949.8 |
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$ |
4,151.9 |
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Net income (loss) attributable to CBI (1)
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$ |
(245.4 |
) |
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$ |
(525.2 |
) |
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$ |
360.4 |
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$ |
398.4 |
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$ |
(11.8 |
) |
Net income (loss) per common share attributable to CBI (1) (2):
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Basic – Class A Common Stock |
$ |
(1.30 |
) |
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$ |
(2.77 |
) |
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$ |
1.90 |
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$ |
2.10 |
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$ |
(0.07 |
) |
Basic – Class B Convertible Common Stock |
$ |
(1.19 |
) |
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$ |
(2.52 |
) |
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$ |
1.73 |
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$ |
1.91 |
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$ |
(0.07 |
) |
Diluted – Class A Common Stock |
$ |
(1.30 |
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$ |
(2.77 |
) |
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$ |
1.85 |
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$ |
2.04 |
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$ |
(0.07 |
) |
Diluted – Class B Convertible Common Stock |
$ |
(1.19 |
) |
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$ |
(2.52 |
) |
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$ |
1.71 |
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$ |
1.89 |
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$ |
(0.07 |
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For the Quarters Ended |
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May 31,
2018 |
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August 31,
2018 |
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November 30,
2018 |
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February 28,
2019 |
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Full Year |
(in millions, except per share data) |
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Fiscal 2019 |
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Net sales |
$ |
2,047.1 |
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$ |
2,299.1 |
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$ |
1,972.6 |
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$ |
1,797.2 |
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$ |
8,116.0 |
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Gross profit |
$ |
1,048.6 |
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$ |
1,168.2 |
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$ |
970.0 |
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$ |
893.5 |
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$ |
4,080.3 |
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Net income (loss) attributable to CBI (1)
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$ |
743.8 |
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$ |
1,149.5 |
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$ |
303.1 |
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$ |
1,239.5 |
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$ |
3,435.9 |
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Net income (loss) per common share attributable to CBI (1) (2):
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Basic – Class A Common Stock |
$ |
3.93 |
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$ |
6.11 |
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$ |
1.62 |
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$ |
6.57 |
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$ |
18.24 |
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Basic – Class B Convertible Common Stock |
$ |
3.57 |
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$ |
5.55 |
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$ |
1.47 |
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$ |
5.97 |
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$ |
16.57 |
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Diluted – Class A Common Stock |
$ |
3.77 |
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$ |
5.87 |
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$ |
1.56 |
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$ |
6.37 |
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$ |
17.57 |
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Diluted – Class B Convertible Common Stock |
$ |
3.48 |
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$ |
5.41 |
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$ |
1.45 |
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$ |
5.87 |
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$ |
16.21 |
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(1) |
Includes the following: |
For the Quarters Ended |
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May 31,
2019 |
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August 31,
2019 |
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November 30,
2019 |
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February 29,
2020 |
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(in millions, net of income tax effect) |
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Unrealized net gain (loss) on securities measured at fair value |
$ |
(633.5 |
) |
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$ |
(667.6 |
) |
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$ |
(411.3 |
) |
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$ |
56.9 |
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Impairment of asset held for sale |
$ |
— |
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$ |
(20.4 |
) |
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$ |
(294.8 |
) |
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$ |
(33.2 |
) |
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Equity in earnings (losses) from Canopy |
$ |
(78.2 |
) |
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$ |
(366.7 |
) |
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$ |
41.4 |
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$ |
(15.6 |
) |
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Inventory write-downs |
$ |
(20.6 |
) |
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$ |
(10.3 |
) |
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$ |
(46.7 |
) |
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$ |
(0.3 |
) |
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Net income tax benefit recognized in connection with tax reform in Switzerland |
$ |
— |
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$ |
— |
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$ |
547.4 |
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$ |
— |
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Gain (loss) on sale of business |
$ |
— |
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$ |
— |
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$ |
59.0 |
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$ |
5.2 |
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Net income tax (provision) benefit recognized for adjustments to valuation allowances |
$ |
54.1 |
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$ |
— |
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$ |
— |
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$ |
(25.0 |
) |
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For the Quarters Ended |
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May 31,
2018 |
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August 31,
2018 |
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November 30,
2018 |
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February 28,
2019 |
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(in millions, net of income tax effect) |
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Unrealized net gain (loss) on securities measured at fair value |
$ |
224.1 |
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$ |
595.1 |
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$ |
(168.4 |
) |
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$ |
911.7 |
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Net gain (loss) on sale of unconsolidated investment |
$ |
99.5 |
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$ |
(1.6 |
) |
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$ |
— |
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$ |
— |
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Impairment of intangible assets |
$ |
— |
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$ |
— |
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$ |
— |
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$ |
(81.0 |
) |
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Net income tax (provision) benefit recognized for adjustments to valuation allowances |
$ |
— |
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$ |
— |
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$ |
— |
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$ |
50.1 |
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(2) |
The sum of the quarterly net income (loss) per common share for Fiscal 2020 and Fiscal 2019 may not equal the total computed for the respective years as the net income (loss) per common share is computed independently for each of the quarters presented and for the full year. |
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