NET INCOME PER COMMON SHARE (Tables)

12 Months Ended

Feb. 26, 2022

Schedule of Computation of Basic and Diluted Net Loss Per Share

The components of basic and diluted net income per common share were as follows (in millions, except per share data):


	Fiscal 2021		Fiscal 2020		Fiscal 2019
Basic net income per Class A common share
Net income	$	1,619.6	$	850.2	$	466.4
Accrued dividends on Convertible Preferred Stock	(109.4)		(86.0)		—
Earnings allocated to Convertible Preferred Stock	(226.2)		—		—
Net income allocated to Class A common stockholders - Basic	$	1,284.0	$	764.2	$	466.4

Weighted average Class A common shares outstanding - Basic (1)	469.6		500.3		579.4

Basic net income per Class A common share	$	2.73	$	1.53	$	0.80

Diluted net income per Class A common share
Net income allocated to Class A common stockholders - Basic	$	1,284.0	$	764.2	$	466.4
Accrued dividends on Convertible Preferred Stock	—		86.0		—
Earnings allocated to Convertible Preferred Stock	—		—		—
Net income allocated to Class A common stockholders - Diluted	$	1,284.0	$	850.2	$	466.4

Weighted average Class A common shares outstanding - Basic (1)	469.6		500.3		579.4
Dilutive effect of:
Restricted stock units and awards	5.7		4.1		0.9
Convertible Preferred Stock (2)	—		73.7		—
Weighted average Class A common shares outstanding - Diluted (3)	475.3		578.1		580.3

Diluted net income per Class A common share	$	2.70	$	1.47	$	0.80

(1) Fiscal 2021, fiscal 2020 and fiscal 2019 include 2.7 million, 1.1 million and 1.3 million common shares remaining to be issued, respectively.

(2) Reflects the number of shares of Convertible Preferred Stock issued, if converted into Common Stock for the period outstanding. For fiscal 2021, 97.7 million potential common shares outstanding related to Convertible Preferred Stock were antidilutive.

(3) There were no potential common shares outstanding that were antidilutive for fiscal 2021, fiscal 2020 and fiscal 2019.