Company: BBY
Filing Date: 2025-09-05
Form Type: 10-Q
Source: 0000764478-25-000040
Chunk: 22

Company: BEST BUY CO INC
Filing Date: 2025-09-05
Form: 10-Q
Item: Part I, Item 1
Chunk 22
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5, February 1, 2025, and August 3, 2024, respectively. During the first six months of fiscal 2026 and fiscal 2025, $853 million and $893 million of revenue was recognized, respectively, that was included in the contract liabilities at the beginning of the respective periods. Estimated revenue from our contract liability balances expected to be recognized in future periods if the performance of the contract is expected to have an initial duration of more than one year is as follows ($ in millions):Fiscal YearAmountRemainder of fiscal 2026$17Fiscal 202733Fiscal 202829Fiscal 202926Fiscal 203026Fiscal 203126Thereafter89See Note 11, Segments, for information on our revenue by reportable segment and product category.

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Table of Contents

8.     Earnings per Share

We compute our basic earnings per share based on the weighted-average number of common shares outstanding and our diluted earnings per share based on the weighted-average number of common shares outstanding adjusted by the number of additional shares that would have been outstanding had the potentially dilutive common shares been issued as calculated using the treasury stock method.Reconciliations of the numerators and denominators of basic and diluted earnings per share were as follows ($ and shares in millions, except per share amounts):Three Months EndedSix Months EndedAugust 2, 2025August 3, 2024August 2, 2025August 3, 2024NumeratorNet earnings$186$291$388$537DenominatorWeighted-average common shares outstanding211.5216.0211.8216.1Dilutive effect of stock compensation plan awards0.51.10.71.1Weighted-average common shares outstanding, assuming dilution212.0217.1212.5217.2Potential shares which were anti-dilutive and excluded from weighted-average share computations0.2-0.1-Basic earnings per share$0.88$1.35$1.83$2.49Diluted earnings per share$0.87$1.34$1.82$2.47

9.     Repurchase of Common Stock

On February 28, 2022, our Board of Directors approved a $5.0 billion share repurchase program. The program had $3.1 billion remaining available for repurchases as of August 2, 2025. There is no expiration date governing