Quarterly report pursuant to Section 13 or 15(d)

Net Income (Loss) Per Common Share Attributable to CBI (Tables)

v3.23.4
Net Income (Loss) Per Common Share Attributable to CBI (Tables)
 9 Months Ended
Nov. 30, 2023
Earnings Per Share [Abstract]  
Basic and diluted net income (loss) per common share attributable to CBI The computation of basic and diluted net income (loss) per common share for Class A Stock are as follows:
For the Nine Months Ended November 30, 2023 For the Three Months Ended November 30, 2023
(in millions, except per share data)
Net income (loss) attributable to CBI $ 1,335.0  $ 509.1 
Weighted average common shares outstanding – basic 183.431  183.525 
Stock-based awards, primarily stock options 0.665  0.645 
Weighted average common shares outstanding – diluted 184.096  184.170 
Net income (loss) per common share attributable to CBI – basic $ 7.28  $ 2.77 
Net income (loss) per common share attributable to CBI – diluted $ 7.25  $ 2.76 
For the nine months ended November 30, 2022, net income (loss) per common share – diluted for Class A Stock and Class B Stock has been computed using the two-class method. For the three months ended November 30, 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, until such conversion took place pursuant to the Reclassification. For the three months ended November 30, 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:
For the Nine Months Ended November 30, 2022 For the Three Months Ended November 30, 2022
Class A Stock
Class B Stock (1)
Class A Stock
Class B Stock (1)
(in millions, except per share data)
Net income (loss) attributable to CBI allocated – basic $ (247.3) $ (46.7) $ 426.3  $ 41.4 
Conversion of Class B common shares into Class A common shares —  —  41.4  — 
Effect of stock-based awards on allocated net income (loss) —  —  —  (0.1)
Net income (loss) attributable to CBI allocated – diluted $ (247.3) $ (46.7) $ 467.7  $ 41.3 
Weighted average common shares outstanding – basic 164.573  23.206  166.677  23.206 
Conversion of Class B common shares into Class A common shares —  —  17.850  — 
Stock-based awards, primarily stock options (2)
—  —  0.764  — 
Weighted average common shares outstanding – diluted 164.573  23.206  185.291  23.206 
Net income (loss) per common share attributable to CBI – basic $ (1.48) $ (2.01) $ 2.58  $ 1.78 
Net income (loss) per common share attributable to CBI – diluted $ (1.48) $ (2.01) $ 2.52  $ 1.78 
(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.
(2)
We have excluded the following weighted average common shares outstanding from the calculation of diluted net income (loss) per common share for the nine months ended November 30, 2022, as the effect of including these would have been anti-dilutive:
(in millions)
Class B Stock 21.434 
Stock-based awards, primarily stock options 0.786