Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Common Share

v2.4.0.8
Earnings Per Common Share
 6 Months Ended
Aug. 31, 2013
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 six months and three months ended August 31, 2013, and August 31, 2012, 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, 2013, and August 31, 2012, 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
Ended August 31,
 
For the Three Months
Ended August 31,
 
2013
 
2012
 
2013
 
2012
(in millions, except per share data)
 
 
 
 
 
 
 
Income available to common stockholders
$
1,574.9

 
$
196.6

 
$
1,522.0

 
$
124.6

 
 
 
 
 
 
 
 
Weighted average common shares outstanding – basic:
 
 
 
 
 
 
 
Class A Common Stock
163.277

 
158.527

 
164.825

 
154.794

Class B Convertible Common Stock
23.485

 
23.545

 
23.472

 
23.536

 
 
 
 
 
 
 
 
Weighted average common shares outstanding – diluted:
 
 
 
 
 
 
 
Class A Common Stock
163.277

 
158.527

 
164.825

 
154.794

Class B Convertible Common Stock
23.485

 
23.545

 
23.472

 
23.536

Stock-based awards, primarily stock options
9.294

 
5.386

 
8.470

 
6.310

Weighted average common shares outstanding – diluted
196.056

 
187.458

 
196.767

 
184.640

 
 
 
 
 
 
 
 
Earnings per common share – basic:
 
 
 
 
 
 
 
Class A Common Stock
$
8.53

 
$
1.09

 
$
8.18

 
$
0.71

Class B Convertible Common Stock
$
7.75

 
$
0.99

 
$
7.43

 
$
0.64

Earnings per common share – diluted:
 
 
 
 
 
 
 
Class A Common Stock
$
8.03

 
$
1.05

 
$
7.74

 
$
0.67

Class B Convertible Common Stock
$
7.38

 
$
0.96

 
$
7.11

 
$
0.62



For the six months ended August 31, 2013, and August 31, 2012, stock-based awards, primarily stock options, which could result in the issuance of 1.4 million and 3.6 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, 2013, and August 31, 2012, stock-based awards, primarily stock options, which could result in the issuance of 1.4 million and 3.2 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.