Stockholders' Equity

3 Months Ended

May 31, 2020

STOCKHOLDERS’ EQUITY

Common stock

The number of shares of common stock issued and treasury stock, and associated share activity, are as follows:


	Common Stock					Treasury Stock
	Class A	Class B	Class 1	Class A	Class B
Balance at February 29, 2020	186,090,745	28,300,206	1,692,227	18,256,826	5,005,800

Conversion of shares	2,532	(2,532)	—	—	—
Exercise of stock options	—	—	2,576	(44,593)	—


Vesting of restricted stock units ⁽¹⁾	—	—	—	(76,019)	—
Vesting of performance share units ⁽¹⁾	—	—	—	(17,335)	—

Balance at May 31, 2020	186,093,277	28,297,674	1,694,803	18,118,879	5,005,800




















Balance at February 28, 2019	185,740,178	28,322,419	1,149,624	18,927,966	5,005,800

Conversion of shares	133,667	(55)	(133,612)	—	—
Exercise of stock options	—	—	2,107	(173,725)	—


Vesting of restricted stock units ⁽¹⁾	—	—	—	(88,683)	—
Vesting of performance share units ⁽¹⁾	—	—	—	(29,015)	—
Cancellation of restricted shares	—	—	—	444	—
Balance at May 31, 2019	185,873,845	28,322,364	1,018,119	18,636,987	5,005,800

⁽¹⁾Net of the following shares withheld to satisfy tax withholding requirements:


			For the Three Months Ended May 31,
2020
Restricted Stock Units			37,506
Performance Share Units			9,433

2019
Restricted Stock Units			48,562
Performance Share Units			17,439

Stock repurchases

In January 2018, our Board of Directors authorized the repurchase of up to $3.0 billion of our Class A Common Stock and Class B Convertible Common Stock (the “2018 Authorization”). The Board of Directors did not specify a date upon which this authorization would expire. Shares repurchased under the 2018 Authorization have become treasury shares.

As of May 31, 2020, total shares repurchased under the 2018 Authorizations are as follows:


			Class A Common Shares
	Repurchase Authorization		Dollar Value of Shares Repurchased		Number of Shares Repurchased
(in millions, except share data)

2018 Authorization	$	3,000.0	$	1,045.9	4,897,605