Condensed Consolidating Financial Information (Tables)

9 Months Ended

Nov. 26, 2011

Condensed Consolidating Financial Information Disclosure [Abstract]

At November 26, 2011

(Unaudited)



	Best Buy Co., Inc.		Guarantor Subsidiary		Non- Guarantor Subsidiaries		Eliminations			Consolidated
Assets
Current Assets
Cash and cash equivalents	$	1,249	$	220	$	923	$	—		$	2,392
Short-term investments	—		—		—		—			—
Receivables	—		1,478		1,734		—			3,212
Merchandise inventories	—		6,437		2,855		(72		)	9,220
Other current assets	182		48		867		(12		)	1,085
Intercompany receivable	—		—		13,225		(13,225		)	—
Intercompany note receivable	806		—		107		(913		)	—
Total current assets	2,237		8,183		19,711		(14,222		)	15,909

Property and Equipment, Net	200		1,737		1,630		—			3,567
Goodwill	—		6		2,414		—			2,420
Tradenames, Net	—		—		129		—			129
Customer Relationships, Net	—		—		165		—			165
Equity and Other Investments	141		—		5		—			146
Other Assets	170		35		206		1			412
Investments in Subsidiaries	14,561		254		2,623		(17,438		)	—

Total Assets	$	17,309	$	10,215	$	26,883	$	(31,659	)	$	22,748

Liabilities and Shareholders’ Equity
Current Liabilities
Accounts payable	$	479	$	58	$	9,527	$	—		$	10,064
Unredeemed gift card liabilities	—		361		67		—			428
Accrued compensation and related expenses	—		197		300		—			497
Accrued liabilities	41		925		1,022		(12		)	1,976
Accrued income taxes	11		—		—		—			11
Short-term debt	—		—		163		—			163
Current portion of long-term debt	388		23		16		—			427
Intercompany payable	8,573		4,652		—		(13,225		)	—
Intercompany note payable	108		500		305		(913		)	—
Total current liabilities	9,600		6,716		11,400		(14,150		)	13,566

Long-Term Liabilities	432		765		177		(255		)	1,119
Long-Term Debt	1,497		111		79		—			1,687

Equity
Shareholders’ equity	5,780		2,623		14,561		(17,254		)	5,710
Noncontrolling interests	—		—		666		—			666
Total equity	5,780		2,623		15,227		(17,254		)	6,376

Total Liabilities and Equity	$	17,309	$	10,215	$	26,883	$	(31,659	)	$	22,748

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 November 27, 2010

(Unaudited)



	Best Buy Co., Inc.		Guarantor Subsidiary		Non- Guarantor Subsidiaries		Eliminations			Consolidated
Assets
Current Assets
Cash and cash equivalents	$	144	$	180	$	601	$	—		$	925
Short-term investments	—		—		2		—			2
Receivables	—		1,302		1,491		—			2,793
Merchandise inventories	—		7,161		3,010		(107		)	10,064
Other current assets	243		90		766		(54		)	1,045
Intercompany receivable	—		—		11,953		(11,953		)	—
Intercompany note receivable	1,578		—		2		(1,580		)	—
Total current assets	1,965		8,733		17,825		(13,694		)	14,829

Property and Equipment, Net	202		1,836		1,956		—			3,994
Goodwill	—		6		2,435		—			2,441
Tradenames, Net	—		—		145		—			145
Customer Relationships, Net	—		—		220		—			220
Equity and Other Investments	168		—		175		—			343
Other Assets	132		39		258		(49		)	380
Investments in Subsidiaries	12,405		195		2,371		(14,971		)	—

Total Assets	$	14,872	$	10,809	$	25,385	$	(28,714	)	$	22,352

Liabilities and Shareholders’ Equity
Current Liabilities
Accounts payable	$	479	$	54	$	9,325	$	—		$	9,858
Unredeemed gift card liabilities	—		359		65		—			424
Accrued compensation and related expenses	—		200		264		—			464
Accrued liabilities	—		843		1,130		(53		)	1,920
Accrued income taxes	31		—		—		—			31
Short-term debt	500		—		190		—			690
Current portion of long-term debt	—		21		12		—			33
Intercompany payable	6,692		5,261		—		(11,953		)	—
Intercompany note payable	15		500		1,065		(1,580		)	—
Total current liabilities	7,717		7,238		12,051		(13,586		)	13,420

Long-Term Liabilities	148		1,082		184		(248		)	1,166
Long-Term Debt	902		118		81		—			1,101

Equity
Shareholders’ equity	6,105		2,371		12,405		(14,880		)	6,001
Noncontrolling interests	—		—		664		—			664
Total equity	6,105		2,371		13,069		(14,880		)	6,665

Total Liabilities and Equity	$	14,872	$	10,809	$	25,385	$	(28,714	)	$	22,352

Consolidating Income Statement

Three Months Ended November 26, 2011

(Unaudited)



	Best Buy Co., Inc.			Guarantor Subsidiary			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Revenue	$	4		$	8,039		$	12,886		$	(8,830	)	$	12,099

Cost of goods sold	—			6,063			11,420			(8,328		)	9,155
Restructuring charges - cost of goods sold	—			—			13			—			13

Gross profit	4			1,976			1,453			(502		)	2,931

Selling, general and administrative expenses	33			1,896			1,236			(549		)	2,616
Restructuring charges	—			—			137			—			137

Operating (loss) income	(29		)	80			80			47			178

Other income (expense)
Gain on sale of investments	—			—			55			—			55
Investment income and other	4			—			8			(4		)	8
Interest expense	(25		)	(3		)	(13		)	4			(37		)

(Loss) earnings before equity in earnings of subsidiaries	(50		)	77			130			47			204

Equity in earnings of subsidiaries	100			18			49			(167		)	—

Earnings before income tax expense and equity in loss of affiliates	50			95			179			(120		)	204

Income tax (benefit) expense	(57		)	28			101			—			72

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

Net earnings including noncontrolling interests	107			67			77			(120		)	131

Net loss attributable to noncontrolling interests	—			—			23			—			23

Net earnings attributable to Best Buy Co., Inc.	$	107		$	67		$	100		$	(120	)	$	154

Condensed Consolidating Statements of Earnings

Nine Months Ended November 26, 2011

(Unaudited)



	Best Buy Co., Inc.			Guarantor Subsidiary			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Revenue	$	12		$	22,838		$	33,055		$	(21,519	)	$	34,386

Cost of goods sold	—			17,061			28,788			(20,047		)	25,802
Restructuring charges - cost of goods sold	—			—			13			—			13

Gross profit	12			5,777			4,254			(1,472		)	8,571

Selling, general and administrative expenses	106			5,551			3,642			(1,616		)	7,683
Restructuring charges	—			(2		)	143			—			141

Operating (loss) income	(94		)	228			469			144			747

Other income (expense)
Gain on sale of investments	—			—			55			—			55
Investment income and other	14			—			25			(13		)	26
Interest expense	(71		)	(9		)	(35		)	13			(102		)

(Loss) earnings before equity in earnings of subsidiaries	(151		)	219			514			144			726

Equity in earnings of subsidiaries	420			36			142			(598		)	—

Earnings before income tax expense and equity in loss of affiliates	269			255			656			(454		)	726

Income tax (benefit) expense	(54		)	77			247			—			270

Equity in loss of affiliates	—			—			(2		)	—			(2		)

Net earnings including noncontrolling interests	323			178			407			(454		)	454

Net loss attributable to noncontrolling interests	—			—			13			—			13

Net earnings attributable to Best Buy Co., Inc.	$	323		$	178		$	420		$	(454	)	$	467

Condensed Consolidating Statements of Earnings

Three Months Ended November 27, 2010

(Unaudited)



	Best Buy Co., Inc.			Guarantor Subsidiary			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Revenue	$	4		$	7,984		$	13,469		$	(9,567	)	$	11,890

Cost of goods sold	—			5,962			11,994			(9,049		)	8,907

Gross profit	4			2,022			1,475			(518		)	2,983

Selling, general and administrative expenses	36			1,941			1,192			(571		)	2,598

Operating (loss) income	(32		)	81			283			53			385

Other income (expense)
Investment income and other	12			—			8			(12		)	8
Interest expense	(12		)	(4		)	(16		)	12			(20		)

(Loss) earnings before equity in earnings of subsidiaries	(32		)	77			275			53			373

Equity in earnings of subsidiaries	202			7			51			(260		)	—

Earnings before income tax expense	170			84			326			(207		)	373

Income tax expense	6			26			101			—			133

Net earnings including noncontrolling interests	164			58			225			(207		)	240

Net earnings attributable to noncontrolling interests	—			—			(23		)	—			(23		)

Net earnings attributable to Best Buy Co., Inc.	$	164		$	58		$	202		$	(207	)	$	217

Condensed Consolidating Statements of Earnings

Nine Months Ended November 27, 2010

(Unaudited)



	Best Buy Co., Inc.			Guarantor Subsidiary			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Revenue	$	12		$	23,059		$	34,166		$	(23,221	)	$	34,016

Cost of goods sold	—			17,081			29,750			(21,509		)	25,322

Gross profit	12			5,978			4,416			(1,712		)	8,694

Selling, general and administrative expenses	107			5,747			3,584			(1,853		)	7,585

Operating (loss) income	(95		)	231			832			141			1,109

Other income (expense)
Investment income and other	31			—			33			(31		)	33
Interest expense	(35		)	(10		)	(50		)	31			(64		)

(Loss) earnings before equity in earnings of subsidiaries	(99		)	221			815			141			1,078

Equity in earnings of subsidiaries	584			30			142			(756		)	—

Earnings before income tax expense	485			251			957			(615		)	1,078

Income tax expense	—			79			321			—			400

Net earnings including noncontrolling interests	485			172			636			(615		)	678

Net earnings attributable to noncontrolling interests	—			—			(52		)	—			(52		)

Net earnings attributable to Best Buy Co., Inc.	$	485		$	172		$	584		$	(615	)	$	626

Consolidating Cash Flows Statement

Nine Months Ended November 26, 2011

(Unaudited)



	Best Buy Co., Inc.			Guarantor Subsidiary			Non- Guarantor Subsidiaries			Eliminations		Consolidated
Total cash (used in) provided by operating activities	$	(26	)	$	(2,501	)	$	5,154		$	—	$	2,627

Investing activities
Additions to property and equipment	(4		)	(318		)	(294		)	—		(616		)
Purchases of investments	(91		)	—			(20		)	—		(111		)
Sales of investments	128			—			39			—		167
Change in restricted assets	—			—			(31		)	—		(31		)
Other, net	2			—			(9		)	—		(7		)
Total cash provided by (used in) investing activities	35			(318		)	(315		)	—		(598		)

Financing activities
Repurchase of common stock	(1,165		)	—			—			—		(1,165		)
Borrowings of debt	997			—			1,441			—		2,438
Repayments of debt	(15		)	(10		)	(1,845		)	—		(1,870		)
Dividends paid	(172		)	—			—			—		(172		)
Issuance of common stock under employee stock purchase plan and for the exercise of stock options	64			—			—			—		64
Other, net	(12		)	—			(10		)	—		(22		)
Change in intercompany receivable/payable	1,261			2,998			(4,259		)	—		—
Total cash provided by (used in) financing activities	958			2,988			(4,673		)	—		(727		)

Effect of exchange rate changes on cash	—			—			(13		)	—		(13		)

Increase in cash and cash equivalents	967			169			153			—		1,289

Cash and cash equivalents at beginning of period	282			51			770			—		1,103
Cash and cash equivalents at end of period	$	1,249		$	220		$	923		$	—	$	2,392

Condensed Consolidating Statements of Cash Flows

Nine Months Ended November 27, 2010

(Unaudited)



	Best Buy Co., Inc.			Guarantor Subsidiary			Non- Guarantor Subsidiaries			Eliminations		Consolidated
Total cash (used in) provided by operating activities	$	(410	)	$	(3,758	)	$	4,713		$	—	$	545

Investing activities
Additions to property and equipment	—			(199		)	(330		)	—		(529		)
Purchases of investments	(245		)	—			—			—		(245		)
Sales of investments	382			—			1			—		383
Proceeds from sale of business	—			—			21			—		21
Change in restricted assets	—			—			(1		)	—		(1		)
Other, net	—			—			10			—		10
Total cash provided by (used in) investing activities	137			(199		)	(299		)	—		(361		)

Financing activities
Repurchase of common stock	(1,128		)	—			—			—		(1,128		)
Borrowings of debt	500			—			1,425			—		1,925
Repayments of debt	(1		)	(10		)	(1,873		)	—		(1,884		)
Dividends paid	(178		)	—			—			—		(178		)
Issuance of common stock under employee stock purchase plan and for the exercise of stock options	171			—			—			—		171
Other, net	13			—			(12		)	—		1
Change in intercompany receivable/payable	(130		)	4,094			(3,964		)	—		—
Total cash (used in) provided by financing activities	(753		)	4,084			(4,424		)	—		(1,093		)

Effect of exchange rate changes on cash	—			—			8			—		8

(Decrease) increase in cash and cash equivalents	(1,026		)	127			(2		)	—		(901		)

Cash and cash equivalents at beginning of period	1,170			53			603			—		1,826
Cash and cash equivalents at end of period	$	144		$	180		$	601		$	—	$	925