Condensed Consolidating Financial Information (Tables)

6 Months Ended

Aug. 27, 2011

Condensed Consolidating Financial Information Disclosure [Abstract]

At August 27, 2011

(Unaudited)



	Best Buy Co., Inc.		Guarantor Subsidiary		Non- Guarantor Subsidiaries		Eliminations			Consolidated
Assets
Current Assets
Cash and cash equivalents	$	943	$	52	$	1,045	$	—		$	2,040
Short-term investments	80		—		—		—			80
Receivables	1		522		1,422		—			1,945
Merchandise inventories	—		4,329		2,125		(51		)	6,403
Other current assets	157		57		831		(12		)	1,033
Intercompany receivable	—		—		9,843		(9,843		)	—
Intercompany note receivable	895		—		106		(1,001		)	—
Total current assets	2,076		4,960		15,372		(10,907		)	11,501

Property and Equipment, Net	200		1,742		1,819		—			3,761
Goodwill	—		6		2,480		—			2,486
Tradenames, Net	—		—		134		—			134
Customer Relationships, Net	—		—		179		—			179
Equity and Other Investments	143		—		141		—			284
Other Assets	226		35		223		—			484
Investments in Subsidiaries	14,487		241		2,556		(17,284		)	—

Total Assets	$	17,132	$	6,984	$	22,904	$	(28,191	)	$	18,829

Liabilities and Shareholders’ Equity
Current Liabilities
Accounts payable	$	341	$	62	$	5,427	$	—		$	5,830
Unredeemed gift card liabilities	—		347		63		—			410
Accrued compensation and related expenses	—		174		315		—			489
Accrued liabilities	51		711		829		(11		)	1,580
Accrued income taxes	2		—		—		—			2
Short-term debt	—		—		392		—			392
Current portion of long-term debt	403		23		18		—			444
Intercompany payable	8,132		1,711		—		(9,843		)	—
Intercompany note payable	106		501		394		(1,001		)	—
Total current liabilities	9,035		3,529		7,438		(10,855		)	9,147

Long-Term Liabilities	466		781		174		(245		)	1,176
Long-Term Debt	1,496		118		82		—			1,696

Equity
Shareholders’ equity	6,135		2,556		14,487		(17,091		)	6,087
Noncontrolling interests	—		—		723		—			723
Total equity	6,135		2,556		15,210		(17,091		)	6,810

Total Liabilities and Equity	$	17,132	$	6,984	$	22,904	$	(28,191	)	$	18,829

Condensed Consolidating Balance Sheets

At February 26, 2011

(Unaudited)



	Best Buy Co., Inc.		Guarantor Subsidiary		Non- Guarantor Subsidiaries		Eliminations			Consolidated
Assets
Current Assets
Cash and cash equivalents	$	282	$	51	$	770	$	—		$	1,103
Short-term investments	20		—		2		—			22
Receivables	3		738		1,607		—			2,348
Merchandise inventories	—		3,973		1,999		(75		)	5,897
Other current assets	234		117		752		—			1,103
Intercompany receivable	—		—		9,300		(9,300		)	—
Intercompany note receivable	854		—		91		(945		)	—
Total current assets	1,393		4,879		14,521		(10,320		)	10,473

Property and Equipment, Net	200		1,803		1,820		—			3,823
Goodwill	—		6		2,448		—			2,454
Tradenames, Net	—		—		133		—			133
Customer Relationships, Net	—		—		203		—			203
Equity and Other Investments	162		—		166		—			328
Other Assets	181		36		273		(55		)	435
Investments in Subsidiaries	14,030		229		2,444		(16,703		)	—

Total Assets	$	15,966	$	6,953	$	22,008	$	(27,078	)	$	17,849

Liabilities and Shareholders’ Equity
Current Liabilities
Accounts payable	$	361	$	101	$	4,432	$	—		$	4,894
Unredeemed gift card liabilities	—		404		70		—			474
Accrued compensation and related expenses	—		200		370		—			570
Accrued liabilities	13		625		833		—			1,471
Accrued income taxes	256		—		—		—			256
Short-term debt	—		—		557		—			557
Current portion of long-term debt	402		23		16		—			441
Intercompany payable	7,497		1,665		138		(9,300		)	—
Intercompany note payable	103		500		342		(945		)	—
Total current liabilities	8,632		3,518		6,758		(10,245		)	8,663

Long-Term Liabilities	160		863		447		(287		)	1,183
Long-Term Debt	500		128		83		—			711

Equity
Shareholders’ equity	6,674		2,444		14,030		(16,546		)	6,602
Noncontrolling interests	—		—		690		—			690
Total equity	6,674		2,444		14,720		(16,546		)	7,292

Total Liabilities and Equity	$	15,966	$	6,953	$	22,008	$	(27,078	)	$	17,849

Condensed Consolidating Balance Sheets

At August 28, 2010

(Unaudited)



	Best Buy Co., Inc.		Guarantor Subsidiary		Non- Guarantor Subsidiaries		Eliminations			Consolidated
Assets
Current Assets
Cash and cash equivalents	$	136	$	29	$	678	$	—		$	843
Short-term investments	—		—		2		—			2
Receivables	1		500		1,219		—			1,720
Merchandise inventories	—		4,387		2,032		(73		)	6,346
Other current assets	242		74		733		(1		)	1,048
Intercompany receivable	—		—		8,604		(8,604		)	—
Intercompany note receivable	1,566		—		7		(1,573		)	—
Total current assets	1,945		4,990		13,275		(10,251		)	9,959

Property and Equipment, Net	211		1,798		1,906		—			3,915
Goodwill	—		6		2,359		—			2,365
Tradenames, Net	—		—		147		—			147
Customer Relationships, Net	—		—		227		—			227
Equity and Other Investments	166		—		127		—			293
Other Assets	92		27		375		(38		)	456
Investments in Subsidiaries	12,043		296		2,411		(14,750		)	—

Total Assets	$	14,457	$	7,117	$	20,827	$	(25,039	)	$	17,362

Liabilities and Shareholders’ Equity
Current Liabilities
Accounts payable	$	350	$	34	$	5,189	$	—		$	5,573
Unredeemed gift card liabilities	—		344		56		—			400
Accrued compensation and related expenses	1		191		275		—			467
Accrued liabilities	18		670		901		—			1,589
Accrued income taxes	27		—		—		—			27
Short-term debt	—		—		383		—			383
Current portion of long-term debt	—		20		12		—			32
Intercompany payable	6,869		1,735		—		(8,604		)	—
Intercompany note payable	19		500		1,054		(1,573		)	—
Total current liabilities	7,284		3,494		7,870		(10,177		)	8,471

Long-Term Liabilities	185		1,089		245		(338		)	1,181
Long-Term Debt	902		123		63		—			1,088

Equity
Shareholders’ equity	6,086		2,411		12,042		(14,524		)	6,015
Noncontrolling interests	—		—		607		—			607
Total equity	6,086		2,411		12,649		(14,524		)	6,622

Total Liabilities and Equity	$	14,457	$	7,117	$	20,827	$	(25,039	)	$	17,362

Consolidating Income Statement

Three Months Ended August 27, 2011

(Unaudited)



	Best Buy Co., Inc.			Guarantor Subsidiary			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Revenue	$	4		$	7,591		$	9,810		$	(6,058	)	$	11,347

Cost of goods sold	—			5,625			8,381			(5,531		)	8,475

Gross profit	4			1,966			1,429			(527		)	2,872

Selling, general and administrative expenses	37			1,890			1,233			(577		)	2,583
Restructuring charges	—			—			2			—			2

Operating (loss) income	(33		)	76			194			50			287

Other income (expense)
Investment income and other	6			—			5			(5		)	6
Interest expense	(23		)	(3		)	(13		)	5			(34		)

(Loss) earnings before equity in earnings of subsidiaries	(50		)	73			186			50			259

Equity in earnings of subsidiaries	175			9			48			(232		)	—

Earnings before income tax expense and equity in loss of affiliates	125			82			234			(182		)	259

Income tax (benefit) expense	(2		)	25			76			—			99

Equity in loss of affiliates	—			—			—			—			—

Net earnings including noncontrolling interests	127			57			158			(182		)	160

Net loss attributable to noncontrolling interests	—			—			17			—			17

Net earnings attributable to Best Buy Co., Inc.	$	127		$	57		$	175		$	(182	)	$	177

Condensed Consolidating Statements of Earnings

Six Months Ended August 27, 2011

(Unaudited)



	Best Buy Co., Inc.			Guarantor Subsidiary			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Revenue	$	8		$	14,799		$	20,169		$	(12,689	)	$	22,287

Cost of goods sold	—			10,998			17,368			(11,719		)	16,647

Gross profit	8			3,801			2,801			(970		)	5,640

Selling, general and administrative expenses	73			3,655			2,406			(1,067		)	5,067
Restructuring charges	—			(2		)	6			—			4

Operating (loss) income	(65		)	148			389			97			569

Other income (expense)
Investment income and other	10			—			17			(9		)	18
Interest expense	(46		)	(6		)	(22		)	9			(65		)

(Loss) earnings before equity in earnings of subsidiaries	(101		)	142			384			97			522

Equity in earnings of subsidiaries	320			18			93			(431		)	—

Earnings before income tax expense and equity in loss of affiliates	219			160			477			(334		)	522

Income tax expense	3			49			146			—			198

Equity in loss of affiliates	—			—			(1		)	—			(1		)

Net earnings including noncontrolling interests	216			111			330			(334		)	323

Net earnings attributable to noncontrolling interests	—			—			(10		)	—			(10		)

Net earnings attributable to Best Buy Co., Inc.	$	216		$	111		$	320		$	(334	)	$	313

Condensed Consolidating Statements of Earnings

Three Months Ended August 28, 2010

(Unaudited)



	Best Buy Co., Inc.			Guarantor Subsidiary			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Revenue	$	4		$	7,780		$	10,162		$	(6,607	)	$	11,339

Cost of goods sold	—			5,739			8,674			(5,992		)	8,421

Gross profit	4			2,041			1,488			(615		)	2,918

Selling, general and administrative expenses	34			1,970			1,166			(663		)	2,507

Operating (loss) income	(30		)	71			322			48			411

Other income (expense)
Investment income and other	11			—			14			(12		)	13
Interest expense	(11		)	(3		)	(19		)	12			(21		)

(Loss) earnings before equity in earnings of subsidiaries	(30		)	68			317			48			403

Equity in earnings of subsidiaries	248			27			109			(384		)	—

Earnings before income tax expense	218			95			426			(336		)	403

Income tax expense (benefit)	12			(41		)	175			—			146

Net earnings including noncontrolling interests	206			136			251			(336		)	257

Net earnings attributable to noncontrolling interests	—			—			(3		)	—			(3		)

Net earnings attributable to Best Buy Co., Inc.	$	206		$	136		$	248		$	(336	)	$	254

Condensed Consolidating Statements of Earnings

Six Months Ended August 28, 2010

(Unaudited)



	Best Buy Co., Inc.			Guarantor Subsidiary			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Revenue	$	8		$	15,075		$	20,697		$	(13,654	)	$	22,126

Cost of goods sold	—			11,119			17,756			(12,460		)	16,415

Gross profit	8			3,956			2,941			(1,194		)	5,711

Selling, general and administrative expenses	71			3,806			2,392			(1,282		)	4,987

Operating (loss) income	(63		)	150			549			88			724

Other income (expense)
Investment income and other	19			—			25			(19		)	25
Interest expense	(23		)	(6		)	(34		)	19			(44		)

(Loss) earnings before equity in earnings of subsidiaries	(67		)	144			540			88			705

Equity in earnings of subsidiaries	382			23			91			(496		)	—

Earnings before income tax expense	315			167			631			(408		)	705

Income tax (benefit) expense	(6		)	53			220			—			267

Net earnings including noncontrolling interests	321			114			411			(408		)	438

Net earnings attributable to noncontrolling interests	—			—			(29		)	—			(29		)

Net earnings attributable to Best Buy Co., Inc.	$	321		$	114		$	382		$	(408	)	$	409

Consolidating Cash Flows Statement

Six Months Ended August 27, 2011

(Unaudited)



	Best Buy Co., Inc.			Guarantor Subsidiary			Non- Guarantor Subsidiaries			Eliminations		Consolidated
Total cash (used in) provided by operating activities	$	(151	)	$	200		$	1,488		$	—	$	1,537

Investing activities
Additions to property and equipment	(2		)	(191		)	(218		)	—		(411		)
Purchases of investments	(86		)	—			(20		)	—		(106		)
Sales of investments	43			—			23			—		66
Proceeds from sale of business	—			—			—			—		—
Change in restricted assets	—			—			(45		)	—		(45		)
Settlement of net investment hedges	—			—			—			—		—
Other, net	—			—			—			—		—
Total cash (used in) investing activities	(45		)	(191		)	(260		)	—		(496		)

Financing activities
Repurchase of common stock	(846		)	—			—			—		(846		)
Borrowings of debt	997			—			999			—		1,996
Repayments of debt	—			(6		)	(1,181		)	—		(1,187		)
Dividends paid	(115		)	—			—			—		(115		)
Issuance of common stock under employee stock purchase plan and for the exercise of stock options	49			—			—			—		49
Excess tax benefits from stock-based compensation	—			—			—			—		—
Other, net	(8		)	—			6			—		(2		)
Change in intercompany receivable/payable	780			(2		)	(778		)	—		—
Total cash provided by (used in) financing activities	857			(8		)	(954		)	—		(105		)

Effect of exchange rate changes on cash	—			—			1			—		1

Increase in cash and cash equivalents	661			1			275			—		937

Cash and cash equivalents at beginning of period	282			51			770			—		1,103
Cash and cash equivalents at end of period	$	943		$	52		$	1,045		$	—	$	2,040

Condensed Consolidating Statements of Cash Flows

Six Months Ended August 28, 2010

(Unaudited)



	Best Buy Co., Inc.			Guarantor Subsidiary			Non- Guarantor Subsidiaries			Eliminations		Consolidated
Total cash provided by (used in) operating activities	$	199		$	(472	)	$	357		$	—	$	84

Investing activities
Additions to property and equipment	—			(129		)	(213		)	—		(342		)
Purchases of investments	(241		)	—			—			—		(241		)
Sales of investments	378			—			1			—		379
Proceeds from sale of business	—			—			21			—		21
Change in restricted assets	—			—			12			—		12
Settlement of net investment hedges	—			—			12			—		12
Other, net	—			—			(1		)	—		(1		)
Total cash provided by (used in) investing activities	137			(129		)	(168		)	—		(160		)

Financing activities
Repurchase of common stock	(667		)	—			—			—		(667		)
Borrowings of debt	—			—			955			—		955
Repayments of debt	(1		)	(6		)	(1,200		)	—		(1,207		)
Dividends paid	(118		)	—			—			—		(118		)
Issuance of common stock under employee stock purchase plan and for the exercise of stock options	113			—			—			—		113
Excess tax benefits from stock-based compensation	10			—			—			—		10
Other, net	—			—			9			—		9
Change in intercompany receivable/payable	(707		)	583			124			—		—
Total cash (used in) provided by financing activities	(1,370		)	577			(112		)	—		(905		)

Effect of exchange rate changes on cash	—			—			(2		)	—		(2		)

(Decrease) increase in cash and cash equivalents	(1,034		)	(24		)	75			—		(983		)

Cash and cash equivalents at beginning of period	1,170			53			603			—		1,826
Cash and cash equivalents at end of period	$	136		$	29		$	678		$	—	$	843