Company: BBY
Filing Date: 2025-09-05
Form Type: 10-Q
Source: 0000764478-25-000040
Chunk: 13

Company: BEST BUY CO INC
Filing Date: 2025-09-05
Form: 10-Q
Item: Part I, Item 1
Chunk 13
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 translation adjustments, net of tax----(2)(2)Stock-based compensation--36--36Issuance of common stock--1--1Common stock dividends, $0.94 per share--4(207)-(203)Repurchase of common stock(1.1)-(67)(31)-(98)Balances at August 3, 2024215.0$22$-$2,775$310$3,107Balances at February 3, 2024215.4$22$31$2,683$317$3,053Net earnings, six months ended August 3, 2024---537-537Other comprehensive loss:Foreign currency translation adjustments, net of tax----(7)(7)Stock-based compensation--74--74Issuance of common stock1.4-5--5Common stock dividends, $1.88 per share--9(414)-(405)Repurchase of common stock(1.8)-(119)(31)-(150)Balances at August 3, 2024215.0$22$-$2,775$310$3,107

See Notes to Condensed Consolidated Financial Statements.

7

Table of Contents

Notes to Condensed Consolidated Financial Statements

(unaudited)

1.    Basis of Presentation

Unless the context otherwise requires, the terms “Best Buy,” “we,” “us”, “our” and the “company” in these Notes to Condensed Consolidated Financial Statements refer to Best Buy Co., Inc. and, as applicable, its consolidated subsidiaries.In the opinion of management, the accompanying condensed consolidated financial statements contain all adjustments necessary for a fair presentation as prescribed by accounting principles generally accepted in the U.S. (“GAAP”). All adjustments were comprised of normal recurring adjustments, except as noted in these Notes to Condensed Consolidated Financial Statements.A large proportion of our revenue and earnings is generated in the fiscal fourth quarter, which includes the majority of the holiday shopping season. Due to the seasonal nature of our business, interim results are not necessarily indicative of results for the entire fiscal year. The interim financial statements and the related notes included in this Quarterly Report on Form 10-Q should be read in conjunction with the consolidated financial statements and related notes included in our Annual Report on Form 10-K for the fiscal year ended February 1, 2025. The first six months of fiscal 2026 and fiscal 2025 each included 26 weeks.In preparing the accompanying condensed consolidated financial statements, we evaluated the