XML 24 R4.htm IDEA: XBRL DOCUMENT v3.6.0.2
CONSOLIDATED STATEMENTS OF EARNINGS - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Jan. 28, 2017
Jan. 30, 2016
Jan. 31, 2015
Revenue $ 39,403 $ 39,528 $ 40,339
Cost of goods sold 29,963 30,334 31,292
Restructuring charges — cost of goods sold 0 3 0
Gross profit 9,440 [1] 9,191 [2] 9,047
Selling, general and administrative expenses 7,547 7,618 7,592
Restructuring charges 39 198 5
Operating income 1,854 [3] 1,375 [4] 1,450
Other income (expense)      
Gain on sale of investments 3 2 13
Investment income and other 31 13 14
Interest expense (72) (80) (90)
Earnings from continuing operations before income tax expense 1,816 1,310 1,387
Income tax expense 609 503 141
Net earnings from continuing operations 1,207 807 1,246
Gain (loss) from discontinued operations (Note 2), net of tax expense of $7, $1 and $0 21 90 (11)
Net earnings including noncontrolling interests 1,228 897 1,235
Net earnings from discontinued operations attributable to noncontrolling interests 0 0 (2)
Net earnings attributable to Best Buy Co., Inc. shareholders $ 1,228 $ 897 $ 1,233
Basic earnings (loss) per share attributable to Best Buy Co., Inc. shareholders      
Continuing operations $ 3.79 $ 2.33 $ 3.57
Discontinued operations 0.07 0.26 (0.04)
Basic earnings per share 3.86 2.59 3.53
Diluted earnings (loss) per share attributable to Best Buy Co., Inc. shareholders      
Continuing operations 3.74 2.30 3.53
Discontinued operations 0.07 0.26 (0.04)
Diluted earnings per share $ 3.81 [5] $ 2.56 [5] $ 3.49
Weighted-average common shares outstanding      
Basic 318.5 346.5 349.5
Diluted 322.6 350.7 353.6
[1] Includes $183 million of cathode ray tube ("CRT") litigation settlements reached and recorded in the fiscal first quarter and $183 million for the 12 months ended January 28, 2017, related to products purchased and sold in prior fiscal years.
[2] Includes $78 million, $10 million, $0 million and $2 million of CRT and LCD litigation settlements reached and recorded in the fiscal first, second, third and fourth quarters respectively, and $90 million for the 12 months ended January 30, 2016, related to products purchased and sold in prior fiscal years.
[3] Includes $29 million, $0 million, $1 million and $9 million of restructuring charges recorded in the fiscal first, second, third and fourth quarters, respectively, and $39 million for the 12 months ended January 28, 2017, related to measures we took to restructure our businesses. Also, includes $161 million of cathode ray tube litigation settlements, net of related legal fees and costs, recorded in the fiscal first quarter and in the 12 months ended January 28, 2017, related to products purchased and sold in prior fiscal years.
[4] Includes $186 million, $(4) million, $7 million and $12 million of restructuring charges recorded in the fiscal first, second, third and fourth quarters, respectively, and $201 million for the 12 months ended January 30, 2016, related to measures we took to restructure our businesses. Also, includes $67 million, $8 million, $0 million and $2 million of CRT and LCD litigation settlements, net of related legal fees and costs, recorded in the fiscal first, second, third and fourth quarters respectively, and $77 million for the 12 months ended January 30, 2016, related to products purchased and sold in prior fiscal years.
[5] The sum of our quarterly diluted earnings per share does not equal our annual diluted earnings per share due to differences in quarterly and annual weighted-average shares outstanding.