Company: BBY
Filing Date: 2025-09-05
Form Type: 10-Q
Source: 0000764478-25-000040
Chunk: 87

Company: BEST BUY CO INC
Filing Date: 2025-09-05
Form: 10-Q
Item: Part II, Item 2
Chunk 87
---
 Contents

8.     Earnings per Share

We compute our basic earnings per share based on the weighted-average number of common shares outstanding and our diluted earnings per share based on the weighted-average number of common shares outstanding adjusted by the number of additional shares that would have been outstanding had the potentially dilutive common shares been issued as calculated using the treasury stock method.Reconciliations of the numerators and denominators of basic and diluted earnings per share were as follows ($ and shares in millions, except per share amounts):Three Months EndedSix Months EndedAugust 2, 2025August 3, 2024August 2, 2025August 3, 2024NumeratorNet earnings$186$291$388$537DenominatorWeighted-average common shares outstanding211.5216.0211.8216.1Dilutive effect of stock compensation plan awards0.51.10.71.1Weighted-average common shares outstanding, assuming dilution212.0217.1212.5217.2Potential shares which were anti-dilutive and excluded from weighted-average share computations0.2-0.1-Basic earnings per share$0.88$1.35$1.83$2.49Diluted earnings per share$0.87$1.34$1.82$2.47

9.     Repurchase of Common Stock

On February 28, 2022, our Board of Directors approved a $5.0 billion share repurchase program. The program had $3.1 billion remaining available for repurchases as of August 2, 2025. There is no expiration date governing the period over which we can repurchase shares under this authorization. Information regarding the shares we repurchased and retired was as follows ($ and shares in millions, except per share amounts):Three Months EndedSix Months EndedAugust 2, 2025August 3, 2024August 2, 2025August 3, 2024Total cost of shares repurchased$67$98$167$150Average price per share$68.65$82.57$66.03$80.86Number of shares repurchased and retired0.91.12.51.8

10.     Contingencies

We are involved in a number of legal proceedings. Where appropriate, we have made accruals with respect to these matters, which are reflected on our Condensed Consolidated Financial Statements. However, there are cases where liability