Earnings (Loss) Per Share (Tables)

3 Months Ended

May 31, 2022

Schedule of Basic and Diluted Earnings Per Share

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


	Three Months Ended
	May 31, 2022		May 31, 2021
Net loss for basic loss per share available to common shareholders	$	(181)	$	(62)
Less: 1.75% Debentures fair value adjustment (1) (2)	(46)		—
Add: interest expense on 1.75% Debentures (1) (2)	2		—
Net loss for diluted loss per share available to common shareholders	$	(225)	$	(62)

Weighted average number of shares outstanding (000’s) - basic (3) (4)	576,877		567,358
Effect of dilutive securities (000’s)

Conversion of 1.75% Debentures (1) (2)	60,833		—
Weighted average number of shares and assumed conversions (000’s) diluted	637,710		567,358
Loss per share - reported
Basic	$	(0.31)	$	(0.11)
Diluted	$	(0.35)	$	(0.11)

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(1) The Company has presented the dilutive effect of the 1.75% Debentures using the if-converted method, assuming conversion at the beginning of the quarter for the three months ended May 31, 2022. Accordingly, to calculate diluted loss per share, the Company adjusted net loss by eliminating the fair value adjustment made to the 1.75% Debentures and interest expense incurred on the 1.75% Debentures for the three months ended May 31, 2022, and added the number of shares that would have been issued upon conversion to the diluted weighted average number of shares outstanding. See Note 5 for details on the 1.75% Debentures.

(2) The Company has not presented the dilutive effect of the 1.75% Debentures using the if-converted method in the calculation of diluted loss per share for the three months ended May 31, 2021, as to do so would be antidilutive. See Note 5 for details on the 1.75% Debentures.

(3) The three months ended May 31, 2021, includes approximately 1,421,945 common shares (Exchange Shares) remaining that were subsequently issued on the third anniversary date of the Cylance acquisition completed on February 21, 2019 in consideration for the acquisition.

(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, 2022 and May 31, 2021, as to do so would be antidilutive.