Company: BBY
Filing Date: 2025-12-05
Form Type: 10-Q
Source: 0000764478-25-000057
Chunk: 23

Company: BEST BUY CO INC
Filing Date: 2025-12-05
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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 of fiscal 2026$9Fiscal 202735Fiscal 202831Fiscal 202927Fiscal 203027Fiscal 203127Thereafter89See Note 11, Segments, for information on our revenue by reportable segment and product category.

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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 EndedNine Months EndedNovember 1, 2025November 2, 2024November 1, 2025November 2, 2024NumeratorNet earnings$140$273$528$810DenominatorWeighted-average common shares outstanding210.7214.8211.4215.7Dilutive effect of stock compensation plan awards1.41.91.31.5Weighted-average common shares outstanding, assuming dilution212.1216.7212.7217.2Potential shares which were anti-dilutive and excluded from weighted-average share computations--0.1-Basic earnings per share$0.67$1.27$2.50$3.76Diluted earnings per share$0.66$1.26$2.48$3.73

9.     Repurchase of Common Stock

On February 28, 2022, our Board of Directors approved a $5.0 billion share repurchase program. The program had $3.1 billion remaining available for repurchases as of November 1, 2025. There is no expiration date governing the period over which we can repurchase shares under this authorization. Information regarding the shares we repurchased and retired was as follows ($ and shares in millions, except per share amounts):Three Months EndedNine Months EndedNovember 1, 2025November 2, 2024November 1, 2025November 2, 2024Total cost of shares repurchased$34$135$201$285Average price per share$74.03$95.43$67.28$87.19Number of shares repurchased and retired0.51.43.03.