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Net Income (Loss) Per Common Share Attributable to CBI | 6 Months Ended
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Aug. 31, 2023
Earnings Per Share [Abstract] |
NET INCOME (LOSS) PER COMMON SHARE ATTRIBUTABLE TO CBI | NET INCOME (LOSS) PER COMMON SHARE ATTRIBUTABLE TO CBI For the six months and three months ended August 31, 2023, net income (loss) per common share – basic for Class A Stock has been computed based on the weighted average shares of common stock outstanding during the period. Net income (loss) per common share – diluted for Class A Stock reflects the weighted average shares of common stock plus the effect of dilutive securities outstanding during the period using the treasury stock method. The effect of dilutive securities includes the impact of outstanding stock-based awards. The dilutive computation does not assume conversion, exercise, or contingent issuance of securities that would have an anti-dilutive effect on the net income (loss) per common share attributable to CBI. The computation of basic and diluted net income (loss) per common share for Class A Stock are as follows:
| For the Six Months Ended August 31, 2023 |  | For the Three Months Ended August 31, 2023 |  |
(in millions, except per share data) |  |  |  |  |  |  |
Net income (loss) attributable to CBI | $ | 825.9 |  |  | $ | 690.0 |  |  |  |  |
Weighted average common shares outstanding – basic | 183.384 |  |  | 183.498 |  |  |  |  |
Stock-based awards, primarily stock options | 0.690 |  |  | 0.779 |  |  |  |  |
Weighted average common shares outstanding – diluted | 184.074 |  |  | 184.277 |  |  |  |  |
Net income (loss) per common share attributable to CBI – basic | $ | 4.50 |  |  | $ | 3.76 |  |  |  |  |
Net income (loss) per common share attributable to CBI – diluted | $ | 4.49 |  |  | $ | 3.74 |  |  |  |  |
For the six months and three months ended August 31, 2022, net income (loss) per common share – diluted for Class A Stock and Class B Stock has been computed using the two-class method. The computation of basic and diluted net income (loss) per common share are as follows:
|  |  | For the Six Months Ended August 31, 2022 |  | For the Three Months Ended August 31, 2022
|  |  | Class A Stock |  | Class B Stock |  | Class A Stock |  | Class B Stock
(in millions, except per share data) |  |  |  |  |  |  |  |  |
Net income (loss) attributable to CBI allocated – basic |  |  | $ | (674.2) |  |  | $ | (87.5) |  |  | $ | (1,018.2) |  |  | $ | (133.0) |
Conversion of Class B common shares into Class A common shares |  |  | — |  |  | — |  |  | — |  |  | — |
Effect of stock-based awards on allocated net income (loss) |  |  | — |  |  | — |  |  | — |  |  | — |
Net income (loss) attributable to CBI allocated – diluted |  |  | $ | (674.2) |  |  | $ | (87.5) |  |  | $ | (1,018.2) |  |  | $ | (133.0) |
Weighted average common shares outstanding – basic |  |  | 163.532 |  |  | 23.206 |  |  | 161.730 |  |  | 23.206 |
Conversion of Class B common shares into Class A common shares |  |  | — |  |  | — |  |  | — |  |  | — |
Stock-based awards, primarily stock options (1) |  |  | — |  |  | — |  |  | — |  |  | — |
Weighted average common shares outstanding – diluted |  |  | 163.532 |  |  | 23.206 |  |  | 161.730 |  |  | 23.206 |
Net income (loss) per common share attributable to CBI – basic |  |  | $ | (4.13) |  |  | $ | (3.77) |  |  | $ | (6.30) |  |  | $ | (5.73) |
Net income (loss) per common share attributable to CBI – diluted |  |  | $ | (4.13) |  |  | $ | (3.77) |  |  | $ | (6.30) |  |  | $ | (5.73) |
(1) | We have excluded the following weighted average common shares outstanding from the calculation of diluted net income (loss) per common share, as the effect of including these would have been anti-dilutive:
|  |  | For the Six Months Ended August 31, 2022 |  | For the Three Months Ended August 31, 2022
|  | (in millions) |  |  |
|  | Class B Stock | 23.206 |  |  | 23.206 |
|  | Stock-based awards, primarily stock options | 0.802 |  |  | 0.801 |

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