Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Common Share

v2.4.0.6
Earnings Per Common Share
 6 Months Ended
Aug. 31, 2012
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, 2012, and August 31, 2011, 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, 2012, and August 31, 2011, 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,
 
2012
 
2011
 
2012
 
2011
(in millions, except per share data)
 
 
 
 
 
 
 
Income available to common stockholders
$
196.6

 
$
237.2

 
$
124.6

 
$
162.7

 
 
 
 
 
 
 
 
Weighted average common shares outstanding – basic:
 
 
 
 
 
 
 
Class A Common Stock
158.527

 
186.837

 
154.794

 
186.629

Class B Convertible Common Stock
23.545

 
23.599

 
23.536

 
23.593

 
 
 
 
 
 
 
 
Weighted average common shares outstanding – diluted:
 
 
 
 
 
 
 
Class A Common Stock
158.527

 
186.837

 
154.794

 
186.629

Class B Convertible Common Stock
23.545

 
23.599

 
23.536

 
23.593

Stock-based awards, primarily stock options
5.386

 
3.970

 
6.310

 
3.423

Weighted average common shares outstanding – diluted
187.458

 
214.406

 
184.640

 
213.645

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

 
$
1.14

 
$
0.71

 
$
0.78

Class B Convertible Common Stock
$
0.99

 
$
1.04

 
$
0.64

 
$
0.71

Earnings per common share – diluted:
 
 
 
 
 
 
 
Class A Common Stock
$
1.05

 
$
1.11

 
$
0.67

 
$
0.76

Class B Convertible Common Stock
$
0.96

 
$
1.02

 
$
0.62

 
$
0.70



For the six months ended August 31, 2012, and August 31, 2011, stock-based awards, primarily stock options, which could result in the issuance of 3.6 million and 9.0 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. For the three months ended August 31, 2012, and August 31, 2011, stock-based awards, primarily stock options, which could result in the issuance of 3.2 million and 9.1 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.