Earnings (Loss) Per Share

3 Months Ended

May 31, 2020

LOSS PER SHARE

The following table sets forth the computation of basic and diluted loss per share:


	Three Months Ended
	May 31, 2020		May 31, 2019
Net loss for basic and diluted loss per share available to common shareholders	$	(636)	$	(35)
Less: Debentures fair value adjustment ^{(1) (2)}	—		(28)
Add: interest expense on Debentures ^{(1) (2)}	—		6
Net loss for diluted loss per share available to common shareholders	$	(636)	$	(57)

Weighted average number of shares outstanding (000’s) - basic ^{(3) (4)}	557,839		551,845
Effect of dilutive securities (000’s)

Conversion of Debentures ^{(1) (2)}	—		60,500
Weighted average number of shares and assumed conversions (000’s) diluted	557,839		612,345
Loss per share - reported
Basic	$	(1.14)	$	(0.06)
Diluted	$	(1.14)	$	(0.09)

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⁽¹⁾ The Company has not presented the dilutive effect of the Debentures using the if-converted method in the calculation of diluted loss per share for the three months ended May 31, 2020, as to do so would be antidilutive. See Note 6 for details on the Debentures.

⁽²⁾The Company has presented the dilutive effect of the Debentures using the if-converted method, assuming conversion at the beginning of the quarter for the three months ended May 31, 2019. Accordingly, to calculate diluted loss per share, the Company adjusted net loss by eliminating the fair value adjustment made to the Debentures and interest expense incurred on the Debentures in the three months ended May 31, 2019, and added the number of shares that would have been issued upon conversion to the diluted weighted average number of shares outstanding. See Note 6 for details on the Debentures.

⁽³⁾For the three months ended May 31, 2020, includes approximately 2,802,067 common shares remaining to be issued in equal installments on the next two anniversary dates of the Cylance acquisition, in consideration for the acquisition. For the three months ended May 31, 2019, includes approximately 4,182,189 common shares to be issued in equal installments on the three anniversary dates of the Cylance acquisition, in consideration for the acquisition. There are no service or other requirements associated with the issuance of these shares.

⁽⁴⁾The Company has not presented the dilutive effect of in-the-money options and RSUs that will be settled upon vesting by the issuance of new common shares in the calculation of diluted loss per share for the three months ended May 31, 2020, and three months ended May 31, 2019, as to do so would be antidilutive.