Company: BBY
Filing Date: 2025-12-05
Form Type: 10-Q
Source: 0000764478-25-000057
Chunk: 15

Company: BEST BUY CO INC
Filing Date: 2025-12-05
Form: 10-Q
Item: Part I, Item 1
Chunk 15
---
 program, which is primarily included in Accounts payable on our Condensed Consolidated Balance Sheets, was $1,091 million, $398 million and $793 million as of November 1, 2025, February 1, 2025, and November 2, 2024, respectively.Total Cash, Cash Equivalents and Restricted CashCash, cash equivalents and restricted cash reported on our Condensed Consolidated Balance Sheets are reconciled to the totals shown on our Condensed Consolidated Statements of Cash Flows as follows ($ in millions):November 1, 2025February 1, 2025November 2, 2024Cash and cash equivalents$923$1,578$643Restricted cash included in Other current assets271290295Total cash, cash equivalents and restricted cash$1,194$1,868$938

8

Amounts included in restricted cash are primarily restricted to cover product protection plans provided under our membership offerings and self-insurance liabilities.Reclassification Certain reclassifications of immaterial amounts previously reported have been made to the accompanying Condensed Consolidated Statements of Cash Flows to maintain consistency and comparability between periods presented.

2.     Restructuring

Restructuring charges were as follows ($ in millions):Three Months EndedNine Months EndedNovember 1, 2025November 2, 2024November 1, 2025November 2, 2024Fiscal 2026 Labor and Store Optimization Initiative$(1)$—$121$—Best Buy Health Optimization and China Sourcing Initiative(3)—102—Fiscal 2024 Restructuring Initiative(1)(4)(5)6Fiscal 2023 Resource Optimization Initiative———(2)Total$(5)$(4)$218$4Fiscal 2026 Labor and Store Optimization InitiativeIn the second quarter of fiscal 2026, we commenced a restructuring initiative intended to align field resources with changing customer behaviors, close select non-traditional store locations and redirect corporate resources for better alignment with our strategy. We currently do not expect to incur material future restructuring charges related to this initiative.All charges incurred related to this initiative were from continuing operations and presented within Restructuring charges on our Condensed Consolidated Statements of Earnings. The composition of restructuring charges incurred related to this initiative were as follows ($ in millions):Three Months EndedNine Months EndedNovember 1, 2025November 1, 2025DomesticInternationalTotalDomesticInternationalTotalTermination benefits$(1)$—$(1