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Stockholders' Equity (Tables)
3 Months Ended
May 31, 2023
Equity [Abstract]  
Number of shares of common stock issued and treasury stock, and associated share activity
The number of shares of common stock issued and treasury stock, and associated share activity, are as follows:
Common StockTreasury Stock
Class A
Class B (1)
Class 1Class A
Class B (1)
Balance at February 28, 2023212,697,428 — 22,705 29,498,426 — 
Share repurchases— — — 153,937 — 
Conversion of shares80 — (80)— — 
Exercise of stock options— — 800 (129,595)— 
Vesting of restricted stock units (2)
— — — (71,189)— 
Vesting of performance share units (2)
— — — (13,113)— 
Balance at May 31, 2023212,697,508 — 23,425 29,438,466 — 
Common StockTreasury Stock
Class A
Class B (1)
Class 1Class A
Class B (1)
Balance at February 28, 2022187,263,859 28,212,340 2,248,679 22,824,607 5,005,800 
Share repurchases— — — 4,065,508 — 
Conversion of shares655 (655)— — — 
Exercise of stock options— — 35 (108,228)— 
Vesting of restricted stock units (2)
— — — (71,064)— 
Vesting of performance share units (2)
— — — (16,326)— 
Balance at May 31, 2022187,264,514 28,211,685 2,248,714 26,694,497 5,005,800 
(1)Prior to the Reclassification, we had an additional class of common stock with a material number of shares outstanding: Class B Stock. Shares of Class B Stock were convertible into shares of Class A Stock on a one-to-one basis at any time at the option of the holder. In November 2022, we completed the Reclassification at the Effective Time as contemplated by the Reclassification Agreement. Pursuant to the Reclassification, each share of Class B Stock issued and outstanding immediately prior to the Effective Time was reclassified, exchanged, and converted into one share of Class A Stock and the right to receive $64.64 in cash, without interest. The aggregate cash payment to holders of Class B Stock at the Effective Time was $1.5 billion.
(2)Net of the following shares withheld to satisfy tax withholding requirements:
For the Three
Months Ended
May 31,
2023
Restricted Stock Units39,839 
Performance Share Units8,735 
2022
Restricted Stock Units37,308 
Performance Share Units4,919 
Summary of share repurchase activity
As of May 31, 2023, total shares repurchased under the 2021 Authorization are as follows:
Class A Common Shares
Repurchase
Authorization
Dollar Value
of Shares
Repurchased
Number of
Shares
Repurchased
(in millions, except share data)
2021 Authorization$2,000.0 $1,171.6 4,985,847