The computation of basic and diluted net income (loss) per common share for Class A Stock are as follows:
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For the Three Months Ended May 31, 2023 |
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| (in millions, except per share data) |
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| Net income (loss) attributable to CBI |
$ |
135.9 |
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| Weighted average common shares outstanding – basic |
183.270 |
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| Stock-based awards, primarily stock options |
0.593 |
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| Weighted average common shares outstanding – diluted |
183.863 |
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| Net income (loss) per common share attributable to CBI – basic |
$ |
0.74 |
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| Net income (loss) per common share attributable to CBI – diluted |
$ |
0.74 |
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For the three months ended May 31, 2022, 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. For the three months ended May 31, 2022, 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 Three Months Ended May 31, 2022 |
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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 |
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$ |
345.6 |
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$ |
43.9 |
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| Conversion of Class B common shares into Class A common shares |
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43.9 |
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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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(0.1) |
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| Net income (loss) attributable to CBI allocated – diluted |
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$ |
389.5 |
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$ |
43.8 |
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| Weighted average common shares outstanding – basic |
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165.335 |
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23.206 |
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| Conversion of Class B common shares into Class A common shares |
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23.206 |
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— |
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| Stock-based awards, primarily stock options |
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0.792 |
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— |
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| Weighted average common shares outstanding – diluted |
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189.333 |
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23.206 |
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| Net income (loss) per common share attributable to CBI – basic |
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$ |
2.09 |
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$ |
1.89 |
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| Net income (loss) per common share attributable to CBI – diluted |
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$ |
2.06 |
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$ |
1.89 |
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