Company: BBY
Filing Date: 2025-12-05
Form Type: 10-Q
Source: 0000764478-25-000057
Chunk: 39

Company: BEST BUY CO INC
Filing Date: 2025-12-05
Form: 10-Q
Item: Part I, Item 1
Chunk 39
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1,578$643

The decrease in cash and cash equivalents from February 1, 2025, was primarily due to dividend payments, the timing and volume of inventory purchases and payments, capital expenditures and share repurchases, partially offset by cash flows related to earnings. 

The increase in cash and cash equivalents from November 2, 2024, was primarily due to positive cash flows from operations, primarily driven by earnings, partially offset by dividend payments, capital expenditures and share repurchases.

Cash Flows

Cash flows were as follows ($ in millions):

Nine Months EndedNovember 1, 2025November 2, 2024Total cash provided by (used in):Operating activities$684 $561 Investing activities(555)(522)Financing activities(808)(892)Effect of exchange rate changes on cash and cash equivalents5 (2)Decrease in cash, cash equivalents and restricted cash$(674)$(855)

Operating Activities

The increase in cash provided by operating activities in the first nine months of fiscal 2026 was primarily driven by an increase in net earnings adjusted for non-cash items, partially offset by the timing and volume of inventory purchases and payments.

Investing Activities

The increase in cash used in investing activities in the first nine months of fiscal 2026 was primarily due to the disposal of a component of our Best Buy Health business.

Financing Activities

The decrease in cash used in financing activities in the first nine months of fiscal 2026 was primarily driven by lower share repurchases.

Sources of Liquidity

Funds generated by operating activities, available cash and cash equivalents, our credit facilities, other debt arrangements and trade payables are our most significant sources of liquidity. We believe our sources of liquidity will be sufficient to fund operations and anticipated capital expenditures, share repurchases, dividends and strategic initiatives, including business combinations. However, in the event our liquidity is insufficient, we may be required to limit our spending. There can be no assurance that we will continue to generate cash flows at or above current levels or that we will be able to maintain our ability to borrow under our existing credit facilities or obtain additional financing, if necessary, on favorable terms.

26

On 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