| 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, 2021 |
187,204,280 |
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28,270,288 |
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612,936 |
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17,070,550 |
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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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6,179,015 |
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— |
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| Conversion of shares |
59,579 |
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(57,948) |
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(1,631) |
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— |
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— |
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| Exercise of stock options |
— |
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— |
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1,637,374 |
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(287,873) |
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— |
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| Employee stock purchases |
— |
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— |
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— |
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(57,738) |
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— |
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Vesting of restricted stock units (1)
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— |
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— |
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— |
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(71,413) |
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— |
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Vesting of performance share units (1)
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— |
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— |
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— |
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(7,934) |
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— |
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| 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 (2)
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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 (3)
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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 (1)
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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 (1)
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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 (1)
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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 (1)
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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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(1)Net of the following shares withheld to satisfy tax withholding requirements:
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For the Years Ended |
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February 29,
2024 |
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February 28,
2023 |
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February 28,
2022 |
| Restricted Stock Units |
40,023 |
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37,494 |
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36,213 |
| Performance Share Units |
8,735 |
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4,919 |
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4,565 |
(2)Shares of our Class B Treasury Stock were retired to authorized and unissued shares of our Class B Stock prior to completing the Reclassification.
(3)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 $64.64 in cash, without interest (see “Reclassification” below).
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| Summary of share repurchase activity |
A summary of share repurchase activity is as follows:
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For the Years Ended |
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February 29, 2024 |
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February 28, 2023 |
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February 28, 2022 |
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Dollar
Value |
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Number of
Shares |
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Dollar
Value |
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Number of
Shares |
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Dollar
Value |
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Number of
Shares |
| (in millions, except share data) |
| 2018 Authorization |
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$ |
— |
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— |
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$ |
563.6 |
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2,254,536 |
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$ |
1,390.5 |
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6,179,015 |
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2021 Authorization |
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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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— |
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— |
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2023 Authorization |
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— |
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— |
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— |
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— |
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— |
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— |
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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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$ |
1,390.5 |
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6,179,015 |
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Subsequent to February 29, 2024, we repurchased 424,783 shares of Class A Stock pursuant to the 2021 Authorization at an aggregate cost of $110.0 million through open market transactions. As of April 23, 2024, total shares repurchased under our board authorizations are as follows:
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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 (1)
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$ |
2,000.0 |
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$ |
1,496.3 |
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6,300,059 |
2023 Authorization (1)
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$ |
2,000.0 |
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$ |
— |
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— |
(1)As of April 23, 2024, $2,503.7 million remains available for future share repurchases, excluding the impact of Federal excise tax owed pursuant to the IRA.
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