Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity

v3.21.2
Stockholders' Equity
 6 Months Ended
Aug. 31, 2021
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, 2021 187,204,280  28,270,288  612,936  17,070,550  5,005,800 
Share repurchases —  —  —  1,696,722  — 
Conversion of shares 43,441  (42,810) (631) —  — 
Exercise of stock options —  —  781  (116,058) — 
Vesting of restricted stock units (1)
—  —  —  (66,157) — 
Vesting of performance share units (1)
—  —  —  (7,934) — 
Balance at May 31, 2021 187,247,721  28,227,478  613,086  18,577,123  5,005,800 
Share repurchases —  —  —  4,079,651  — 
Exercise of stock options —  —  1,267  (34,736) — 
Employee stock purchases —  —  —  (28,768) — 
Vesting of restricted stock units (1)
—  —  —  (5,256) — 
Balance at August 31, 2021 187,247,721  28,227,478  614,353  22,588,014  5,005,800 
Balance at February 29, 2020 186,090,745  28,300,206  1,692,227  18,256,826  5,005,800 
Conversion of shares 2,532  (2,532) —  —  — 
Exercise of stock options —  —  2,576  (44,593) — 
Vesting of restricted stock units (1)
—  —  —  (76,019) — 
Vesting of performance share units (1)
—  —  —  (17,335) — 
Balance at May 31, 2020 186,093,277  28,297,674  1,694,803  18,118,879  5,005,800 
Conversion of shares 684,808  (11,113) (673,695) —  — 
Exercise of stock options —  —  —  (781,075) — 
Employee stock purchases —  —  —  (32,867) — 
Vesting of restricted stock units (1)
—  —  —  (3,514) — 
Balance at August 31, 2020 186,778,085  28,286,561  1,021,108  17,301,423  5,005,800 
(1)    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 Six
Months Ended
August 31,
2021
Restricted Stock Units 36,048  165  36,213 
Performance Share Units 4,565  —  4,565 
2020
Restricted Stock Units 37,506  187  37,693 
Performance Share Units 9,433  —  9,433 

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. In January 2021, our Board of Directors authorized an additional repurchase of up to $2.0 billion of our Class A Common Stock and Class B Convertible Common Stock. The Board of Directors did not specify a date upon which these authorizations would expire. Shares repurchased under these authorizations will become treasury shares.
For the six months ended August 31, 2021, we repurchased 5,776,373 shares of Class A Common Stock pursuant to the 2018 Authorization at an aggregate cost of $1,305.0 million through a combination of open market transactions and an ASR that was announced in June 2021. Subsequent to August 31, 2021, we repurchased 402,642 shares of Class A Common Stock pursuant to the 2018 Authorization at an aggregate cost of $85.5 million through open market transactions. Beginning August 25, 2021, all repurchases were made pursuant to a Rule 10b5-1 trading plan.

As of October 6, 2021, total shares repurchased under the 2018 Authorization and the 2021 Authorization 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  $ 2,436.4  11,076,620
2021 Authorization $ 2,000.0  $ —  —