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CONSOLIDATED STATEMENTS OF EARNINGS - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Feb. 03, 2018
Jan. 28, 2017
Jan. 30, 2016
Revenue $ 42,151 $ 39,403 $ 39,528
Cost of goods sold 32,275 29,963 30,334
Restructuring charges — cost of goods sold 0 0 3
Gross profit 9,876 9,440 9,191
Selling, general and administrative expenses 8,023 7,547 7,618
Restructuring charges 10 39 198
Operating income 1,843 [1] 1,854 [2] 1,375
Other income (expense)      
Gain on sale of investments 1 3 2
Investment income and other 48 31 13
Interest expense (75) (72) (80)
Earnings from continuing operations before income tax expense 1,817 1,816 1,310
Income tax expense 818 609 503
Net earnings from continuing operations 999 [3] 1,207 807
Gain from discontinued operations (Note 2), net of tax expense of $0, $7 and $1, respectively 1 21 90
Net earnings $ 1,000 $ 1,228 $ 897
Basic earnings per share      
Continuing operations $ 3.33 $ 3.79 $ 2.33
Discontinued operations 0.00 0.07 0.26
Basic earnings per share 3.33 3.86 2.59
Diluted earnings per share      
Continuing operations 3.26 3.74 2.30
Discontinued operations 0.00 0.07 0.26
Diluted earnings per share $ 3.26 [4] $ 3.81 [4] $ 2.56
Weighted-average common shares outstanding      
Basic 300.4 318.5 346.5
Diluted 307.1 322.6 350.7
[1] Includes $0 million, $2 million, $(2) million and $10 million of restructuring charges (benefit) recorded in the fiscal first, second, third and fourth quarters, respectively, and $10 million for the 12 months ended February 3, 2018, related to measures we took to restructure our businesses. Also includes $80 million related to a one-time bonus for certain employees and $20 million related to a one-time contribution to the Best Buy Foundation in response to future tax savings created by the Tax Act for the fiscal fourth quarter and 12 months ended February 3, 2018.
[2] 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 CRT 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.
[3] Includes $283 million of charges resulting from the Tax Act for the fiscal fourth quarter and 12 months ended February 3, 2018, including $209 million associated with the deemed repatriation tax and $74 million primarily related to the revaluation of deferred tax assets and liabilities.
[4] 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.