| 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, 2022, and November 30, 2021, net income (loss) per common share – diluted for Class A Stock and Class B Stock have been computed using the two-class method. For the three months ended November 30, 2022, and November 30, 2021, net income (loss) per common share – diluted for Class A 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 Stock as this method is more dilutive than the two-class method, until such conversion took place pursuant to the Reclassification. For the three months ended November 30, 2022, and November 30, 2021, net income (loss) per common share – diluted for Class B Stock has been computed using the two-class method and does not assume conversion of Class B Stock into shares of Class A Stock. The computation of basic and diluted net income (loss) per common share are as follows:
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For the Nine Months Ended |
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November 30, 2022 |
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November 30, 2021 |
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Class A Stock |
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Class B Stock (1)
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Class A Stock |
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Class B Stock |
| (in millions, except per share data) |
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| Net income (loss) attributable to CBI allocated – basic |
$ |
(247.3) |
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$ |
(46.7) |
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$ |
(386.9) |
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$ |
(48.9) |
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| Conversion of Class B common shares into Class A common shares |
— |
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— |
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— |
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— |
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| Effect of stock-based awards on allocated net income (loss) |
— |
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— |
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— |
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— |
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| Net income (loss) attributable to CBI allocated – diluted |
$ |
(247.3) |
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$ |
(46.7) |
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$ |
(386.9) |
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$ |
(48.9) |
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| Weighted average common shares outstanding – basic |
164.573 |
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23.206 |
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167.692 |
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23.230 |
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Conversion of Class B common shares into Class A common shares (2)
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— |
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— |
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— |
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— |
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Stock-based awards, primarily stock options (2)
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— |
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— |
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— |
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— |
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| Weighted average common shares outstanding – diluted |
164.573 |
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23.206 |
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167.692 |
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23.230 |
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Net income (loss) per common share attributable to CBI –
basic |
$ |
(1.48) |
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$ |
(2.01) |
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$ |
(2.31) |
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$ |
(2.10) |
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Net income (loss) per common share attributable to CBI –
diluted |
$ |
(1.48) |
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$ |
(2.01) |
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$ |
(2.31) |
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$ |
(2.10) |
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For the Three Months Ended |
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November 30, 2022 |
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November 30, 2021 |
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Class A Stock |
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Class B Stock (1)
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Class A Stock |
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Class B Stock |
| (in millions, except per share data) |
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| Net income (loss) attributable to CBI allocated – basic |
$ |
426.3 |
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$ |
41.4 |
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$ |
417.4 |
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$ |
53.4 |
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| Conversion of Class B common shares into Class A common shares |
41.4 |
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— |
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53.4 |
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— |
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| Effect of stock-based awards on allocated net income (loss) |
— |
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(0.1) |
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— |
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(0.3) |
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| Net income (loss) attributable to CBI allocated – diluted |
$ |
467.7 |
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$ |
41.3 |
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$ |
470.8 |
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$ |
53.1 |
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| Weighted average common shares outstanding – basic |
166.677 |
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23.206 |
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164.999 |
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23.222 |
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| Conversion of Class B common shares into Class A common shares |
17.850 |
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— |
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23.222 |
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— |
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| Stock-based awards, primarily stock options |
0.764 |
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— |
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1.718 |
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— |
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| Weighted average common shares outstanding – diluted |
185.291 |
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23.206 |
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189.939 |
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23.222 |
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| Net income (loss) per common share attributable to CBI – basic |
$ |
2.58 |
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$ |
1.78 |
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$ |
2.53 |
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$ |
2.30 |
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| Net income (loss) per common share attributable to CBI – diluted |
$ |
2.52 |
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$ |
1.78 |
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$ |
2.48 |
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$ |
2.29 |
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(1) |
Net income (loss) per common share attributable to CBI for Class B Stock was determined for the relevant periods through November 10, 2022, the date the Reclassification was completed. |
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(2) |
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: |
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For the Nine Months Ended November 30, |
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2022 |
2021 |
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Class B Stock |
21.434 |
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23.230 |
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Stock-based awards, primarily stock options |
0.786 |
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1.807 |
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