Assets and Liabilities Held for Sale and Discontinued Operations (Tables)

3 Months Ended

May 04, 2013

Income Statement, Balance Shet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Abstract]

Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block]

The financial results of discontinued operations for the three months ended May 4, 2013 and May 5, 2012 were as follows ($ in millions):



	Three Months Ended
	May 4, 2013			May 5, 2012
Revenue	$	1,430		$	1,244

Restructuring charges⁽¹⁾	53			6

Loss from discontinued operations before income tax benefit (expense)	(185		)	(19		)
Income tax benefit (expense)⁽²⁾	(13		)	4
Gain on sale of discontinued operations	28			—
Equity in loss of affiliates	—			(2		)
Net loss from discontinued operations, including noncontrolling interests	(170		)	(17		)
Net (earnings) loss from discontinued operations attributable to noncontrolling interests	(8		)	6
Net loss from discontinued operations attributable to Best Buy Co., Inc. shareholders	$	(178	)	$	(11	)


⁽¹⁾	See Note 6, Restructuring Charges, for further discussion of the restructuring charges associated with discontinued operations.

⁽²⁾

The fiscal 2014 effective tax rate for discontinued operations differs from the statutory tax rate primarily due to the $53 million of restructuring charges and $175 million impairment of our investment in Best Buy Europe, which generally included no related tax benefit. The deferred tax assets related to the restructuring charges generally resulted in an increase in the valuation allowance in an equal amount, while the investment impairment is not tax deductible.

Assets & Liabilities Held-for-sale [Table Text Block]

The composition of assets and liabilities held for sale as of May 4, 2013 was as follows ($ in millions):



	May 4, 2013
Cash and cash equivalents	$	163
Receivables	1,211
Merchandise inventories	385
Other current assets	120
Current assets held for sale	1,879
Net property and equipment	147
Other assets	324
Long-term assets held for sale	471

Accounts payable	965
Other current liabilities	420
Current liabilities held for sale	1,385
Long-term liabilities held for sale	79

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

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