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CONSOLIDATED STATEMENTS OF EARNINGS - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Feb. 02, 2019
Feb. 03, 2018
Jan. 28, 2017
Revenue $ 42,879 $ 42,151 $ 39,403
Cost of goods sold 32,918 32,275 29,963
Gross profit 9,961 9,876 9,440
Selling, general and administrative expenses 8,015 8,023 7,547
Restructuring charges 46 10 39
Operating income 1,900 [1] 1,843 [2] 1,854
Other income (expense):      
Gain on sale of investments 12 1 3
Investment income and other 49 48 31
Interest expense (73) (75) (72)
Earnings from continuing operations before income tax expense 1,888 1,817 1,816
Income tax expense 424 818 609
Net earnings from continuing operations 1,464 999 [3] 1,207
Gain from discontinued operations (Note 3), net of tax expense of $0, $0 and $7, respectively 0 1 21
Net earnings $ 1,464 [4] $ 1,000 $ 1,228
Basic earnings per share      
Continuing operations $ 5.30 $ 3.33 $ 3.79
Discontinued operations 0.00 0.00 0.07
Basic earnings per share 5.30 3.33 3.86
Diluted earnings per share      
Continuing operations 5.20 3.26 3.74
Discontinued operations 0.00 0.00 0.07
Diluted earnings per share $ 5.20 [5] $ 3.26 [5] $ 3.81
Weighted-average common shares outstanding      
Basic 276.4 300.4 318.5
Diluted 281.4 307.1 322.6
[1] (2)Includes $30 million, $17 million, $0 million and $(1) million of restructuring charges (benefit) recorded in the fiscal first, second, third and fourth quarters of 2019, respectively, and $46 million for the fiscal year ended February 2, 2019, related to measures we took to restructure our businesses. Also includes $13 million of acquisition-related transaction costs in the fiscal third quarter of 2019 and $5 million and $17 million of non-cash amortization of definite-lived intangible assets in the fiscal third and fourth quarters of 2019, respectively, associated with the acquisition of GreatCall. Total non-cash amortization of definite-lived intangible assets for the fiscal year ended February 2, 2019 was $22 million. The fiscal first quarter and year ended February 2, 2019, also includes $7 million related to the one-time bonus for certain employees in response to future tax savings created by the Tax Act.
[2] (5)Includes $0 million, $2 million, $(2) million and $10 million of restructuring charges (benefit) recorded in the fiscal first, second, third and fourth quarters of 2018, respectively, and $10 million for the fiscal year 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 year ended February 3, 2018.
[3] (6)Includes $283 million of charges resulting from the Tax Act for the fiscal fourth quarter and year 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] (3)Includes subsequent adjustments resulting from the Tax Act, including $(18) million, $(2) million and $(20) million associated with the deemed repatriation tax recorded in the fiscal third quarter, fourth quarter and year ended February 2, 2019, respectively, and$(5) million and $(5) million related to the revaluation of deferred tax assets and liabilities recorded in the fiscal third quarter and year ended February 2, 2019, respectively.
[5] (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.