Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Common Share

 v2.3.0.11
Earnings Per Common Share
 6 Months Ended
Aug. 31, 2011
Earnings Per Common Share [Abstract]  
EARNINGS PER COMMON SHARE
14.     EARNINGS PER COMMON SHARE:
          The Company has two classes of outstanding common stock: Class A Common Stock and Class B Convertible Common Stock. 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 six months and three months ended August 31, 2011, and August 31, 2010, earnings per common share – diluted for Class A Common Stock has been calculated using the if-converted method. For the six months and three months ended August 31, 2011, and August 31, 2010, 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 Six Months     For the Three Months  
    Ended August 31,     Ended August 31,  
    2011     2010     2011     2010  
(in millions, except per share data)                          
Income available to common stockholders
  $ 237.2     $ 140.4     $ 162.7     $ 91.3  
 
                       
 
                               
Weighted average common shares outstanding – basic:
                               
Class A Common Stock
    186.837       189.084       186.629       185.455  
 
                       
Class B Convertible Common Stock
    23.599       23.719       23.593       23.712  
 
                       
 
                               
Weighted average common shares outstanding – diluted:
                               
Class A Common Stock
    186.837       189.084       186.629       185.455  
Class B Convertible Common Stock
    23.599       23.719       23.593       23.712  
Stock-based awards, primarily stock options
    3.970       2.333       3.423       1.982  
 
                       
Weighted average common shares outstanding – diluted
    214.406       215.136       213.645       211.149  
 
                       
 
                               
Earnings per common share – basic:
                               
Class A Common Stock
  $ 1.14     $ 0.67     $ 0.78     $ 0.44  
 
                       
Class B Convertible Common Stock
  $ 1.04     $ 0.61     $ 0.71     $ 0.40  
 
                       
Earnings per common share – diluted:
                               
Class A Common Stock
  $ 1.11     $ 0.65     $ 0.76     $ 0.43  
 
                       
Class B Convertible Common Stock
  $ 1.02     $ 0.60     $ 0.70     $ 0.40  
 
                       
          For the six months ended August 31, 2011, and August 31, 2010, stock-based awards, primarily stock options, which could result in the issuance of 9.0 million and 23.5 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 August 31, 2011, and August 31, 2010, stock-based awards, primarily stock options, which could result in the issuance of 9.1 million and 25.3 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.