Earnings (Loss) Per Share

12 Months Ended

Feb. 28, 2023

EARNINGS (LOSS) PER SHARE

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


	For the Years Ended
	February 28, 2023		February 28, 2022		February 28, 2021
Net income (loss) for basic earnings (loss) per share available to common shareholders	$	(734)	$	12	$	(1,104)
Less: 1.75% Debentures fair value adjustment (1) (2)	(138)		(212)		—
Add: interest expense on 1.75% Debentures (1) (2)	6		6		—
Net loss for diluted loss per share available to common shareholders	$	(866)	$	(194)	$	(1,104)

Weighted average number of shares outstanding (000’s) - basic (3)(4)	578,654		570,607		561,305
Effect of dilutive securities (000’s)

Conversion of 1.75% Debentures (1) (2)	60,833		60,833		—

Weighted average number of shares and assumed conversions (000’s) diluted	639,487		631,440		561,305
Earnings (loss) per share - reported
Basic	$	(1.27)	$	0.02	$	(1.97)
Diluted	$	(1.35)	$	(0.31)	$	(1.97)

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(1) 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 year ended February 28, 2021, as to do so would be antidilutive. See Note 6 for details on the 1.75% Debentures.

(2) The Company has presented the dilutive effect of the 1.75% Debentures using the if-converted method, assuming conversion at the beginning of the fiscal year for the years ended February 28, 2023 and February 28, 2022. Accordingly, to calculate diluted loss per share, the Company adjusted net income (loss) by eliminating the fair value adjustment made to the 1.75% Debentures and interest expense incurred on the 1.75% Debentures in the years ended February 28, 2023 and February 28, 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 6 for details on the Debentures.

(3) The year ended February 28, 2021, included approximately 1,421,945 Exchange Shares 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 years ended February 28, 2023, February 28, 2022 and February 28, 2021 as to do so would be antidilutive.