Company: BBY
Filing Date: 2025-09-05
Form Type: 10-Q
Source: 0000764478-25-000040
Chunk: 52

Company: BEST BUY CO INC
Filing Date: 2025-09-05
Form: 10-Q
Item: Part I, Item 8
Chunk 52
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ional amounts of our derivative instruments were as follows ($ in millions):Contract TypeAugust 2, 2025February 1, 2025August 3, 2024Derivatives designated as net investment hedges$119$119$103Derivatives designated as fair value hedges (interest rate swaps)500500500No hedge designation (foreign exchange contracts)624259Total$681$661$662Effects of our fair value hedges included in Interest expense on our Condensed Consolidated Statements of Earnings were as follows ($ in millions):Gain (Loss) RecognizedThree Months EndedSix Months EndedAugust 2, 2025August 3, 2024August 2, 2025August 3, 2024Interest rate swaps$9$24$15$9Adjustments to carrying value of long-term debt(9)(24)(15)(9)Total$-$-$-$-

6.     Debt

Short-Term DebtU.S. Revolving Credit FacilityOn April 18, 2025, we entered into a $1.25 billion five-year senior unsecured revolving credit facility agreement (the “Five-Year Facility Agreement”) with a syndicate of banks. The Five-Year Facility Agreement replaced the previous $1.25 billion senior unsecured revolving credit facility (the “Previous Facility”) with a syndicate of banks, which was entered into April 2023 and scheduled to expire April 2028, but was terminated on April 18, 2025. The Five-Year Facility Agreement permits borrowings of up to $1.25 billion and expires in April 2030. There were no borrowings outstanding under the Five-Year Facility Agreement as of August 2, 2025, or the Previous Facility as of February 1, 2025, or August 3, 2024.Long-Term DebtLong-term debt consisted of the following ($ in millions):August 2, 2025February 1, 2025August 3, 2024Notes, 4.45%, due October 1, 2028 ("2028 Notes")$500$500$500Notes, 1.95%, due October 1, 2030 ("2030 Notes")650650650Interest rate swap valuation adjustments-(14)(2)Subtotal1,1501,1361,148Debt discounts and issuance costs(6)(7)(7)Finance lease obligations302529Total long-term debt1,174