Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Common Share

v2.4.1.9
Earnings Per Common Share
 9 Months Ended
Nov. 30, 2014
Earnings Per Share [Abstract]  
EARNINGS PER COMMON SHARE
EARNINGS PER COMMON SHARE:

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 nine months and three months ended November 30, 2014, and November 30, 2013, earnings per common share – diluted for Class A Common Stock has been calculated using the if-converted method. For the nine months and three months ended November 30, 2014, and November 30, 2013, 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 Nine Months
Ended November 30,
 
For the Three Months
Ended November 30,
 
2014
 
2013
 
2014
 
2013
(in millions, except per share data)
 
 
 
 
 
 
 
Income available to common stockholders
$
624.7

 
$
1,785.9

 
$
222.2

 
$
211.0

 
 
 
 
 
 
 
 
Weighted average common shares outstanding – basic:
 
 
 
 
 
 
 
Class A Common Stock
168.968

 
164.082

 
169.585

 
165.708

Class B Convertible Common Stock
23.401

 
23.477

 
23.387

 
23.461

 
 
 
 
 
 
 
 
Weighted average common shares outstanding – diluted:
 
 
 
 
 
 
 
Class A Common Stock
168.968

 
164.082

 
169.585

 
165.708

Class B Convertible Common Stock
23.401

 
23.477

 
23.387

 
23.461

Stock-based awards, primarily stock options
8.474

 
9.327

 
8.304

 
8.913

Weighted average common shares outstanding – diluted
200.843

 
196.886

 
201.276

 
198.082

 
 
 
 
 
 
 
 
Earnings per common share – basic:
 
 
 
 
 
 
 
Class A Common Stock
$
3.28

 
$
9.63

 
$
1.16

 
$
1.13

Class B Convertible Common Stock
$
2.99

 
$
8.76

 
$
1.06

 
$
1.03

Earnings per common share – diluted:
 
 
 
 
 
 
 
Class A Common Stock
$
3.11

 
$
9.07

 
$
1.10

 
$
1.07

Class B Convertible Common Stock
$
2.86

 
$
8.34

 
$
1.01

 
$
0.98



For the nine months ended November 30, 2014, and November 30, 2013, stock-based awards, primarily stock options, which could result in the issuance of 0.8 million and 1.3 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. For the three months ended November 30, 2014, stock-based awards, primarily stock options, which could result in the issuance of 0.5 million shares 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. Stock-based awards outstanding whose impact would have been antidilutive in the computation of earnings per common share – diluted for Class A Common Stock for the three months ended November 30, 2013, were not material.