Constellation Brands, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Selected Quarterly Financial Information (Unaudited)

Selected Quarterly Financial Information (Unaudited)

12 Months Ended

Feb. 28, 2023

Quarterly Financial Information Disclosure [Abstract]

SELECTED QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

A summary of selected quarterly financial information is as follows:


	For the Three Months Ended
	February 28, 2023 (1)		February 28, 2022 (2)
(in millions, except per share data)
Net sales	$	1,997.8	$	2,102.5
Gross profit	$	961.2	$	1,132.6
Net income (loss) attributable to CBI (3)	$	223.0	$	395.4
Net income (loss) per common share attributable to CBI (3):
Basic – Class A Stock	$	1.21	$	2.11
Basic – Class B Stock	NA		$	1.92
Diluted – Class A Stock	$	1.21	$	2.07
Diluted – Class B Stock	NA		$	1.91

(1)Net income (loss) per common share attributable to CBI – basic has been computed based on the weighted average shares of common stock outstanding during the period. Net income (loss) per common share attributable to CBI – diluted reflects the weighted average shares of common stock plus the effect of dilutive securities outstanding during the period using the treasury stock method. The effect of dilutive securities includes the impact of outstanding stock-based awards. The dilutive computation does not assume conversion, exercise, or contingent issuance of securities that would have an anti-dilutive effect on the net income (loss) per common share attributable to CBI.

(2)Net income (loss) per common share – basic excludes the effect of common stock equivalents and was computed using the two-class method. 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. 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.

(3)Includes the following:



	For the Three Months Ended
	February 28, 2023		February 28, 2022
(in millions, net of income tax effect)
Equity in earnings (losses) from Canopy	$	(69.5)	$	(31.9)
Unrealized net gain (loss) on securities measured at fair value	$	(6.8)	$	(135.2)