Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Common Share

 v2.3.0.11
Earnings Per Common Share
3 Months Ended
May 31, 2011
Earnings (Loss) Per Common Share [Abstract]  
EARNINGS PER COMMON SHARE
13.    EARNINGS PER COMMON SHARE:
          The Company has two classes of outstanding common stock: Class A Common Stock and Class B Convertible Common Stock. Earnings per common share – basic excludes the effect of common stock equivalents and is computed using the two-class computation method. Earnings per common share – diluted for Class A Common Stock reflects the potential dilution that could result if securities or other contracts to issue common stock were exercised or converted into common stock. Earnings per common share – diluted for Class A Common Stock has been computed using the more dilutive of the if-converted or two-class computation method. Using the if-converted method, earnings per common share – diluted for Class A Common Stock assumes the exercise of stock options using the treasury stock method and the conversion of Class B Convertible Common Stock. Using the two-class computation method, earnings per common share – diluted for Class A Common Stock assumes the exercise of stock options using the treasury stock method and no conversion of Class B Convertible Common Stock. For the three months ended May 31, 2011, and May 31, 2010, earnings per common share – diluted for Class A Common Stock has been calculated using the if-converted method. For the three months ended May 31, 2011, and May 31, 2010, earnings per common share – diluted for Class B Convertible Common Stock is presented without assuming conversion into Class A Common Stock and is computed using the two-class computation method.
          The computation of basic and diluted earnings per common share is as follows:
                 
    For the Three Months  
    Ended May 31,  
    2011     2010  
(in millions, except per share data)                
Income available to common stockholders
  $ 74.5     $ 49.1  
 
           
 
               
Weighted average common shares outstanding – basic:
               
Class A Common Stock
    187.046       192.713  
 
           
Class B Convertible Common Stock
    23.604       23.726  
 
           
 
               
Weighted average common shares outstanding – diluted:
               
Class A Common Stock
    187.046       192.713  
Class B Convertible Common Stock
    23.604       23.726  
Stock-based awards, primarily stock options
    4.264       2.417  
 
           
Weighted average common shares outstanding – diluted
    214.914       218.856  
 
           
 
               
Earnings per common share – basic:
               
Class A Common Stock
  $ 0.36     $ 0.23  
 
           
Class B Convertible Common Stock
  $ 0.32     $ 0.21  
 
           
Earnings per common share – diluted:
               
Class A Common Stock
  $ 0.35     $ 0.22  
 
           
Class B Convertible Common Stock
  $ 0.32     $ 0.21  
 
           
          For the three months ended May 31, 2011, and May 31, 2010, stock-based awards, primarily stock options, which could result in the issuance of 8.7 million and 23.7 million shares, respectively, of Class A Common Stock were outstanding, but were not included in the computation of earnings per common share – diluted for Class A Common Stock because the effect of including such awards would have been antidilutive.