Fair Value Measurements (Tables)

9 Months Ended

Nov. 01, 2014

Fair Value, Assets and Liabilities Measured on Recurring Basis

The following tables set forth by level within the fair value hierarchy, our financial assets and liabilities that were accounted for at fair value on a recurring basis at November 1, 2014, February 1, 2014, and November 2, 2013, according to the valuation techniques we used to determine their fair values ($ in millions).



			Fair Value Measurements Using Inputs Considered as
	Fair Value at November 1, 2014		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
ASSETS
Cash and cash equivalents
Money market funds	$	74	$	74	$	—	$	—
Corporate bonds	31		—		31		—
Commercial paper	91		—		91		—
Short-term investments
Corporate bonds	97		—		97		—
Commercial paper	381		—		381		—
Other current assets
Foreign currency derivative instruments	4		—		4		—
Other assets
Auction rate securities	9		—		—		9
Marketable equity securities	9		9		—		—
Marketable securities that fund deferred compensation	97		97		—		—



			Fair Value Measurements Using Inputs Considered as
	Fair Value at February 1, 2014		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
ASSETS
Cash and cash equivalents
Money market funds	$	53	$	53	$	—	$	—
Commercial paper	80		—		80		—
Treasury bills	263		263		—		—
Short-term investments
Commercial paper	100		—		100		—
Other current assets
Foreign currency derivative instruments	2		—		2		—
Other assets
Auction rate securities	9		—		—		9
Marketable securities that fund deferred compensation	96		96		—		—

LIABILITIES
Accrued liabilities
Foreign currency derivative instruments	5		—		5		—



			Fair Value Measurements Using Inputs Considered as
	Fair Value at November 2, 2013		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
ASSETS
Cash and cash equivalents
Money market funds	$	495	$	495	$	—	$	—
Other assets
Auction rate securities	9		—		—		9
Marketable equity securities	10		10		—		—
Marketable securities that fund deferred compensation	94		94		—		—
LIABILITIES
Accrued liabilities
Foreign currency derivative instruments	2		—		2		—

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis

The following table summarizes the fair value remeasurements for non-restructuring property and equipment impairments and restructuring activities recorded during the nine months ended November 1, 2014, and November 2, 2013 ($ in millions):



	Nine Months Ended				Nine Months Ended
	November 1, 2014				November 2, 2013
	Impairments		Remaining Net Carrying Value⁽¹⁾		Impairments		Remaining Net Carrying Value⁽¹⁾
Continuing operations
Property and equipment (non-restructuring)	$	28	$	17	$	37	$	—
Restructuring activities⁽²⁾
Property and equipment	—		—		4		—
Investments	—		—		16		—
Total continuing operations	$	28	$	17	$	57	$	—
Discontinued operations⁽³⁾
Property and equipment⁽⁴⁾	$	—	$	—	$	220	$	—
Tradename	—		—		4		—
Total discontinued operations	$	—	$	—	$	224	$	—


(1)	Remaining net carrying value approximates fair value.


(2)	See Note 5, Restructuring Charges, for additional information.


(3)	Property and equipment and tradename impairments associated with discontinued operations are recorded within gain (loss) from discontinued operations in our Consolidated Statements of Earnings.


(4)	Includes the $175 million impairment to write down the book value of our investment in Best Buy Europe to fair value based on expected net proceeds as described in Note 2, Discontinued Operations. The impairment was calculated based on the fair value and foreign currency translation adjustment associated with the business and was applied to the fixed assets.