Net Income (Loss) Per Common Share Attributable to CBI (Tables)

3 Months Ended

May 31, 2023

Earnings Per Share [Abstract]

Basic and diluted 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 Three Months Ended May 31, 2023
(in millions, except per share data)
Net income (loss) attributable to CBI	$	135.9
Weighted average common shares outstanding – basic	183.270
Stock-based awards, primarily stock options	0.593
Weighted average common shares outstanding – diluted	183.863
Net income (loss) per common share attributable to CBI – basic	$	0.74
Net income (loss) per common share attributable to CBI – diluted	$	0.74

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. The computation of basic and diluted net income (loss) per common share are as follows:

	For the Three Months Ended May 31, 2022
	Class A Stock		Class B Stock
(in millions, except per share data)
Net income (loss) attributable to CBI allocated – basic	$	345.6	$	43.9
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
Weighted average common shares outstanding – basic	165.335		23.206
Conversion of Class B common shares into Class A common shares	23.206		—
Stock-based awards, primarily stock options	0.792		—
Weighted average common shares outstanding – diluted	189.333		23.206
Net income (loss) per common share attributable to CBI – basic	$	2.09	$	1.89
Net income (loss) per common share attributable to CBI – diluted	$	2.06	$	1.89