Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Common Share

v2.4.0.8
Earnings Per Common Share
 3 Months Ended
May 31, 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 three months ended May 31, 2014, and May 31, 2013, earnings per common share – diluted for Class A Common Stock has been calculated using the if-converted method. For the three months ended May 31, 2014, and May 31, 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 Three Months
Ended May 31,
 
2014
 
2013
(in millions, except per share data)
 
 
 
Income available to common stockholders
$
206.7

 
$
52.9

 
 
 
 
Weighted average common shares outstanding – basic:
 
 
 
Class A Common Stock
168.158

 
161.729

Class B Convertible Common Stock
23.415

 
23.499

 
 
 
 
Weighted average common shares outstanding – diluted:
 
 
 
Class A Common Stock
168.158

 
161.729

Class B Convertible Common Stock
23.415

 
23.499

Stock-based awards, primarily stock options
8.785

 
9.656

Weighted average common shares outstanding – diluted
200.358

 
194.884

 
 
 
 
Earnings per common share – basic:
 
 
 
Class A Common Stock
$
1.09

 
$
0.29

Class B Convertible Common Stock
$
0.99

 
$
0.26

Earnings per common share – diluted:
 
 
 
Class A Common Stock
$
1.03

 
$
0.27

Class B Convertible Common Stock
$
0.95

 
$
0.25



For the three months ended May 31, 2014, and May 31, 2013, stock-based awards, primarily stock options, which could result in the issuance of 0.9 million and 1.0 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.