Net Income (Loss) Per Common Share Attributable to CBI

3 Months Ended

May 31, 2022

NET INCOME (LOSS) PER COMMON SHARE ATTRIBUTABLE TO CBI

For the three months ended May 31, 2022, net income (loss) per common share – diluted for Class A Stock has been computed using the if-converted method and assumes the exercise of stock options using the treasury stock method and the conversion of Class B Stock as this method is more dilutive than the two-class method. For the three months ended May 31, 2022, net income (loss) per common share – diluted for Class B Stock has been computed using the two-class method and does not assume conversion of Class B Stock into shares of Class A Stock. For the three months ended May 31, 2021, net income (loss) per common share – diluted for Class A Stock and Class B Stock have been computed using the two-class method. The computation of basic and diluted net income (loss) per common share is as follows:


	For the Three Months Ended
	May 31, 2022				May 31, 2021
	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	$	345.6	$	43.9	$	(807.8)	$	(100.3)
Conversion of Class B common shares into Class A common shares	43.9		—		—		—
Effect of stock-based awards on allocated net income (loss)	—		(0.1)		—		—
Net income (loss) attributable to CBI allocated – diluted	$	389.5	$	43.8	$	(807.8)	$	(100.3)

Weighted average common shares outstanding – basic	165.335		23.206		170.602		23.247
Conversion of Class B common shares into Class A common shares (1)	23.206		—		—		—
Stock-based awards, primarily stock options (1)	0.792		—		—		—
Weighted average common shares outstanding – diluted	189.333		23.206		170.602		23.247

Net income (loss) per common share attributable to CBI – basic	$	2.09	$	1.89	$	(4.74)	$	(4.31)
Net income (loss) per common share attributable to CBI – diluted	$	2.06	$	1.89	$	(4.74)	$	(4.31)


(1)	For the three months ended May 31, 2021, 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, in millions:

		Class B Stock	23.247
		Stock-based awards, primarily stock options	2.034