Quarterly report pursuant to Section 13 or 15(d)

Net Income (Loss) Per Common Share Attributable to CBI

v3.21.4
Net Income (Loss) Per Common Share Attributable to CBI
 9 Months Ended
Nov. 30, 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 nine months ended November 30, 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 November 30, 2021, and for the nine months and three months ended November 30, 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 November 30, 2021, and for the nine months and three months ended November 30, 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 Nine Months Ended
November 30, 2021 November 30, 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 $ (386.9) $ (48.9) $ 1,436.5  $ 178.6 
Conversion of Class B common shares into Class A common shares —  —  178.6  — 
Effect of stock-based awards on allocated net income (loss) —  —  —  (1.2)
Net income (loss) attributable to CBI allocated – diluted $ (386.9) $ (48.9) $ 1,615.1  $ 177.4 
Weighted average common shares outstanding – basic 167.692  23.230  170.083  23.284 
Conversion of Class B common shares into Class A common shares (1)
—  —  23.284  — 
Stock-based awards, primarily stock options (1)
—  —  1.734  — 
Weighted average common shares outstanding – diluted 167.692  23.230  195.101  23.284 
Net income (loss) per common share attributable to CBI –
basic		 $ (2.31) $ (2.10) $ 8.44  $ 7.67 
Net income (loss) per common share attributable to CBI – diluted $ (2.31) $ (2.10) $ 8.28  $ 7.62 
For the Three Months Ended
November 30, 2021 November 30, 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 $ 417.4  $ 53.4  $ 1,139.5  $ 141.4 
Conversion of Class B common shares into Class A common shares 53.4  —  141.4  — 
Effect of stock-based awards on allocated net income (loss) —  (0.3) —  (1.1)
Net income (loss) attributable to CBI allocated – diluted $ 470.8  $ 53.1  $ 1,280.9  $ 140.3 
Weighted average common shares outstanding – basic 164.999  23.222  170.571  23.274 
Conversion of Class B common shares into Class A common shares 23.222  —  23.274  — 
Stock-based awards, primarily stock options 1.718  —  1.599  — 
Weighted average common shares outstanding – diluted 189.939  23.222  195.444  23.274 
Net income (loss) per common share attributable to CBI – basic $ 2.53  $ 2.30  $ 6.68  $ 6.07 
Net income (loss) per common share attributable to CBI – diluted $ 2.48  $ 2.29  $ 6.55  $ 6.03 
(1)
For the nine months ended November 30, 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 23.230 
Stock-based awards, primarily stock options 1.807