Company: BBY
Filing Date: 2025-09-05
Form Type: 10-Q
Source: 0000764478-25-000040
Chunk: 83

Company: BEST BUY CO INC
Filing Date: 2025-09-05
Form: 10-Q
Item: Part II, Item 2
Chunk 83
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8.0Tradenames8778927992751.2Developed technology565664616460-Total$482$418$516$425$516$4157.0(1)Gross carrying amount and accumulated amortization as of August 2, 2025, excludes $34 million and $16 million, respectively, of definite-lived intangible assets related to the exit of a component of our Best Buy Health business. See Note 2, Restructuring, for additional information. Amortization expense included in Selling, general and administrative expenses ("SG&A") on our Condensed Consolidated Statements of Earnings was as follows ($ in millions):Three Months EndedSix Months EndedAugust 2, 2025August 3, 2024August 2, 2025August 3, 2024Amortization expense$4 $5 $9$11Amortization expense expected to be recognized in future periods is as follows ($ in millions):Amortization ExpenseRemainder of fiscal 2026$7Fiscal 202713Fiscal 20288Fiscal 20297Fiscal 20306Fiscal 20315Thereafter18

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Table of Contents

4.     Fair Value Measurements

Fair value measurements are reported in one of three levels based on the lowest level of significant input used: Level 1 (unadjusted quoted prices in active markets); Level 2 (observable market inputs, other than quoted prices included in Level 1); and Level 3 (unobservable inputs that cannot be corroborated by observable market data).Recurring Fair Value MeasurementsFinancial assets and liabilities accounted for at fair value were as follows ($ in millions):Fair Value as ofBalance Sheet Location(1)Fair Value HierarchyAugust 2, 2025February 1, 2025August 3, 2024AssetsMoney market funds(2)Cash and cash equivalentsLevel 1$78$439$212Time deposits(3)Cash and cash equivalentsLevel 2258150136Money market funds(2)Other current assetsLevel 1123140147Time deposits(3)Other current assetsLevel 2405051Marketable securities that fund deferred compensation(4)Other assetsLevel 1403938LiabilitiesInterest rate swap derivative instruments(5)Long-term liabilitiesLevel 2-142(1)Balance sheet location is determined by the length to maturity at date of purchase and whether the assets are restricted for particular use.(2)Valued at quoted