Company: BBY
Filing Date: 2025-12-05
Form Type: 10-Q
Source: 0000764478-25-000057
Chunk: 41

Company: BEST BUY CO INC
Filing Date: 2025-12-05
Form: 10-Q
Item: Part I, Item 1
Chunk 41
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 may vary depending on such factors.

On February 28, 2022, our Board approved a $5.0 billion share repurchase program. There is no expiration date governing the period over which we can repurchase shares under this authorization.

Share repurchase and dividend activity were 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 $285 Average price per share$74.03 $95.43 $67.28 $87.19 Total number of shares repurchased0.51.43.03.2Regular quarterly cash dividend per share$0.95 $0.94 $2.85 $2.82 Cash dividends declared and paid$199 $202 $602 $607 

The total cost of shares repurchased decreased in the third quarter of fiscal 2026, due to decreases in the volume of repurchases and the average price per share. The total cost of shares repurchased decreased in the first nine months of fiscal 2026, due to decreases in the average price per share and the volume of repurchases . 

Cash dividends declared and paid decreased in the third quarter and first nine months of fiscal 2026, due to fewer shares outstanding, partially offset by increases in the regular quarterly cash dividend per share. 

Off-Balance-Sheet Arrangements and Contractual Obligations

Our liquidity is not dependent on the use of off-balance-sheet financing arrangements other than in connection with our $1.25 billion in undrawn capacity on our Five-Year Facility Agreement as of November 1, 2025, which, if drawn upon, would be included in either short-term or long-term debt on our Condensed Consolidated Balance Sheets.

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There has been no material change in our contractual obligations other than in the ordinary course of business since the end of fiscal 2025. See our Annual Report on Form 10-K for the fiscal year ended February 1, 2025, for additional information regarding our off-balance-sheet arrangements and contractual obligations.

Significant Accounting Policies and Estimates

We describe our significant accounting policies in Note 1, Summary of Significant Accounting Policies, of the Notes to Consolidated Financial Statements, and our critical accounting estimates in Item 7, Management’s