Quarterly report pursuant to Section 13 or 15(d)

Net Income (Loss) Per Common Share Attributable to CBI

v3.21.2
Net Income (Loss) Per Common Share Attributable to CBI
 6 Months Ended
Aug. 31, 2021
Earnings Per Share [Abstract]  
NET INCOME (LOSS) PER COMMON SHARE ATTRIBUTABLE TO CBI NET INCOME (LOSS) PER COMMON SHARE ATTRIBUTABLE TO CBI
For the six months ended August 31, 2021, net income (loss) per common share – diluted for Class A Common Stock and Class B Convertible Common Stock have been computed using the two-class method. For the three months ended August 31, 2021, and for the six months and three months ended August 31, 2020, net income (loss) per common share – diluted for Class A Common Stock has been computed using the if-converted method and assumes the exercise of stock options using the treasury stock method and the conversion of Class B Convertible Common Stock as this method is more dilutive than the two-class method. For the three months ended August 31, 2021, and for the six months and three months ended August 31, 2020, net income (loss) per common share – diluted for Class B Convertible Common Stock has been computed using the two-class method and does not assume conversion of Class B Convertible Common Stock into shares of Class A Common Stock. The computation of basic and diluted net income (loss) per common share is as follows:
For the Six Months Ended
August 31, 2021 August 31, 2020
Common Stock Common Stock
Class A Class B Class A Class B
(in millions, except per share data)
Net income (loss) attributable to CBI allocated –
basic		 $ (805.8) $ (100.8) $ 297.3  $ 36.9 
Conversion of Class B common shares into Class A common shares —  —  36.9  — 
Effect of stock-based awards on allocated net income (loss) —  —  —  — 
Net income (loss) attributable to CBI allocated – diluted $ (805.8) $ (100.8) $ 334.2  $ 36.9 
Weighted average common shares outstanding –
basic		 169.025  23.234  169.841  23.289 
Conversion of Class B common shares into Class A common shares (1)
—  —  23.289  — 
Stock-based awards, primarily stock options (1)
—  —  1.832  — 
Weighted average common shares outstanding – diluted 169.025  23.234  194.962  23.289 
Net income (loss) per common share attributable to CBI –
basic		 $ (4.77) $ (4.34) $ 1.74  $ 1.58 
Net income (loss) per common share attributable to CBI – diluted $ (4.77) $ (4.34) $ 1.71  $ 1.58 
For the Three Months Ended
August 31, 2021 August 31, 2020
Common Stock Common Stock
Class A Class B Class A Class B
(in millions, except per share data)
Net income (loss) attributable to CBI allocated – basic $ 1.3  $ 0.2  $ 455.5  $ 56.6 
Conversion of Class B common shares into Class A common shares 0.2  —  56.6  — 
Effect of stock-based awards on allocated net income (loss) —  —  —  (0.4)
Net income (loss) attributable to CBI allocated – diluted $ 1.5  $ 0.2  $ 512.1  $ 56.2 
Weighted average common shares outstanding – basic 167.447  23.222  170.078  23.284 
Conversion of Class B common shares into Class A common shares 23.222  —  23.284  — 
Stock-based awards, primarily stock options 1.861  —  1.780  — 
Weighted average common shares outstanding – diluted 192.530  23.222  195.142  23.284 
Net income (loss) per common share attributable to CBI – basic $ 0.01  $ 0.01  $ 2.68  $ 2.43 
Net income (loss) per common share attributable to CBI – diluted $ 0.01  $ 0.01  $ 2.62  $ 2.42 
(1)
For the six months ended August 31, 2021, we have excluded the following weighted average common shares outstanding from the calculation of diluted net income (loss) per common share, as the effect of including these would have been anti-dilutive, in millions:
Class B Convertible Common Stock 23.234 
Stock-based awards, primarily stock options 1.936