Restructuring (Tables)

6 Months Ended

Aug. 02, 2025

Restructuring and Related Activities [Abstract]

Schedule of Composition of Restructuring Charges

Restructuring charges were as follows ($ in millions):

	Three Months Ended				Six Months Ended
	August 2, 2025		August 3, 2024		August 2, 2025		August 3, 2024
Fiscal 2026 Labor and Store Optimization Initiative	$	122	$	-	$	122	$	-
Best Buy Health Optimization and China Sourcing Initiative	(6)		-		105		-
Fiscal 2024 Restructuring Initiative	(2)		(6)		(4)		10
Fiscal 2023 Resource Optimization Initiative	-		(1)		-		(2)
Total	$	114	$	(7)	$	223	$	8

The composition of restructuring charges incurred related to this initiative were as follows ($ in millions):

	Three Months Ended
	Domestic		International		Total
Termination benefits	$	78	$	3	$	81
Asset impairments(1)	41		-		41
Total	$	119	$	3	$	122

(1)Represents asset impairments primarily related to planned store closures, including an impairment related to an indefinite-lived tradename. See Note 3, Goodwill and Intangible Assets, for additional information. The remaining carrying value of net assets approximates fair value and was immaterial as of August 2, 2025.

The composition of restructuring charges incurred related to this initiative were as follows ($ in millions):

	Three Months Ended		Six Months Ended
	August 2, 2025		August 2, 2025
Asset impairments and other costs(1)	$	(3)	$	70
Termination benefits	(3)		35
Total	$	(6)	$	105

(1)Primarily represents the full impairment of net assets related to a component of our Best Buy Health business and other exit costs. The remaining carrying value of net assets approximates fair value and was immaterial as of August 2, 2025.

All charges incurred related to this initiative were comprised of employee termination benefits from continuing operations and were presented within Restructuring charges on our Condensed Consolidated Statements of Earnings as follows ($ in millions):

	Three Months Ended				Six Months Ended				Cumulative Amount as of
	August 2, 2025		August 3, 2024		August 2, 2025		August 3, 2024		August 2, 2025
Domestic	$	(2)	7		$	(4)	$	10	$	162
International	-		(1)		-		-		8
Total	$	(2)	$	6	$	(4)	$	10	$	170

Schedule of Restructuring Accrual Activity

Restructuring accrual activity related to this initiative was as follows ($ in millions):

	Termination Benefits		Asset Impairments and Other Costs		Total
Balances at February 1, 2025	$	-	$	-	$	-
Charges	38		28		66
Cash payments	(9)		(27)		(36)
Adjustments(1)	(3)		(1)		(4)
Balances at August 2, 2025	$	26	$	-	$	26

(1)Primarily represents adjustments for termination benefits primarily related to higher-than-expected employee retention from previously planned organizational changes.

Restructuring accrual activity related to this initiative was as follows ($ in millions):

	Termination Benefits
	Domestic		International		Total
Balances at February 1, 2025	$	80	$	5	$	85
Cash payments	(15)		(1)		(16)
Adjustments(1)	(4)		-		(4)
Balances at August 2, 2025	$	61	$	4	$	65

(1)Represents adjustments primarily related to higher-than-expected employee retention from previously planned organizational changes.