| Number of shares of common stock issued and treasury stock, and associated share activity |
The number of shares of common stock issued and treasury stock, and associated share activity, are as follows:
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Common Stock |
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Treasury Stock |
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Class A |
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Class B |
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Class 1 |
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Class A |
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Class B |
| Balance at February 28, 2022 |
187,263,859 |
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28,212,340 |
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2,248,679 |
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22,824,607 |
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5,005,800 |
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| Share repurchases |
— |
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— |
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— |
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7,086,446 |
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— |
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Retirement of shares (1)
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— |
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(5,005,800) |
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— |
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— |
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(5,005,800) |
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Conversion of shares (2)
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25,433,569 |
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(23,206,540) |
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(2,227,029) |
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— |
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— |
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| Exercise of stock options |
— |
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— |
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1,055 |
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(262,970) |
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— |
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| Employee stock purchases |
— |
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— |
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— |
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(57,284) |
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— |
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Vesting of restricted stock units (3)
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— |
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— |
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— |
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(76,047) |
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— |
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Vesting of performance share units (3)
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— |
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— |
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— |
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(16,326) |
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— |
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| Balance at February 28, 2023 |
212,697,428 |
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— |
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22,705 |
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29,498,426 |
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— |
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| Share repurchases |
— |
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— |
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— |
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1,043,366 |
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— |
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Conversion of shares |
870 |
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— |
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(870) |
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— |
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— |
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| Exercise of stock options |
— |
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— |
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1,826 |
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(582,476) |
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— |
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| Employee stock purchases |
— |
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— |
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— |
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(59,408) |
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— |
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Vesting of restricted stock units (3)
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— |
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— |
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— |
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(76,914) |
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— |
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Vesting of performance share units (3)
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— |
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— |
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— |
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(13,113) |
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— |
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| Balance at February 29, 2024 |
212,698,298 |
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— |
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23,661 |
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29,809,881 |
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— |
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| Share repurchases |
— |
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— |
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— |
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5,252,003 |
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— |
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| Exercise of stock options |
— |
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— |
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3,376 |
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(389,640) |
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— |
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| Employee stock purchases |
— |
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— |
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— |
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(67,405) |
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— |
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Vesting of restricted stock units (3)
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— |
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— |
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— |
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(90,941) |
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— |
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Vesting of performance share units (3)
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— |
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— |
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— |
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(8,757) |
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— |
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| Balance at February 28, 2025 |
212,698,298 |
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— |
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27,037 |
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34,505,141 |
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— |
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(1)Shares of our Class B Treasury Stock were retired to authorized and unissued shares of our Class B Stock prior to completing the Reclassification.
(2)Includes shares of Class B Stock issued and outstanding immediately prior to the Effective Time that were reclassified, exchanged, and converted into one share of Class A Stock and the right to receive $64.64 in cash, without interest (see “Reclassification” below).
(3)Net of the following shares withheld to satisfy tax withholding requirements:
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For the Years Ended |
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February 28,
2025 |
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February 29,
2024 |
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February 28,
2023 |
| Restricted Stock Units |
48,648 |
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40,023 |
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37,494 |
| Performance Share Units |
5,728 |
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8,735 |
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4,919 |
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| Summary of share repurchase activity |
A summary of share repurchase activity is as follows:
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For the Years Ended |
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February 28, 2025 |
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February 29, 2024 |
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February 28, 2023 |
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Dollar
Value |
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Number of
Shares |
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Dollar
Value |
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Number of
Shares |
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Dollar
Value |
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Number of
Shares |
| (in millions, except share data) |
| 2018 Authorization |
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$ |
— |
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— |
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$ |
— |
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— |
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$ |
563.6 |
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2,254,536 |
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2021 Authorization |
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613.7 |
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2,462,271 |
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249.7 |
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1,043,366 |
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1,136.6 |
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4,831,910 |
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2023 Authorization |
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510.1 |
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2,789,732 |
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— |
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— |
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— |
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— |
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$ |
1,123.8 |
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5,252,003 |
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$ |
249.7 |
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1,043,366 |
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$ |
1,700.2 |
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7,086,446 |
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Class A Stock |
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Repurchase
Authorization |
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Dollar Value
of Shares
Repurchased |
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Number of
Shares
Repurchased |
| (in millions, except share data) |
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| 2018 Authorization |
$ |
3,000.0 |
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$ |
3,000.0 |
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13,331,156 |
2021 Authorization |
$ |
2,000.0 |
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$ |
2,000.0 |
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8,337,547 |
2023 Authorization (1)
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$ |
2,000.0 |
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$ |
510.1 |
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2,789,732 |
2025 Authorization (1) (2)
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$ |
4,000.0 |
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$ |
91.7 |
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494,094 |
(1)In April 2025, we announced that our Board of Directors authorized the repurchase of up to $4.0 billion of our publicly traded common stock expiring in February 2028. The 2025 Authorization replaced the 2023 Authorization in its entirety and no further repurchases will be made pursuant to the 2023 Authorization. Shares repurchased under the 2025 Authorization have become treasury shares.
(2)As of April 23, 2025, $3,908.3 million remains available for future share repurchases, excluding the impact of Federal excise tax owed pursuant to the IRA.
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