Company: BBY
Filing Date: 2025-12-05
Form Type: 10-Q
Source: 0000764478-25-000057
Chunk: 87

Company: BEST BUY CO INC
Filing Date: 2025-12-05
Form: 10-Q
Item: Part II, Item 2
Chunk 87
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 Statements of Earnings were as follows ($ in millions):Gain (Loss) RecognizedThree Months EndedNine Months EndedNovember 1, 2025November 2, 2024November 1, 2025November 2, 2024Interest rate swaps$(8)$(14)$7$(5)Adjustments to carrying value of long-term debt814(7)5Total$-$-$-$-

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 November 1, 2025, or the Previous Facility as of February 1, 2025, or November 2, 2024.

13

Long-Term DebtLong-term debt consisted of the following ($ in millions):November 1, 2025February 1, 2025November 2, 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(7)(14)(16)Subtotal1,1431,1361,134Debt discounts and issuance costs(6)(7)(7)Finance lease obligations282529Total long-term debt1,1651,1541,156Less current portion101012Total long-term debt, less current portion$1,155$1,144$1,144Fair Value and Future MaturitiesSee Note 4, Fair Value Measurements, for the fair value of long-term debt. The 2028 Notes mature in fiscal 2029 and the 2030 Notes mature in fiscal 2031.

7.     Revenue

We generate substantially all of our revenue from contracts with customers from the sale