Company: BBY
Filing Date: 2025-09-05
Form Type: 10-Q
Source: 0000764478-25-000040
Chunk: 36

Company: BEST BUY CO INC
Filing Date: 2025-09-05
Form: 10-Q
Item: Part I, Item 1
Chunk 36
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 $470 $695 % of revenue2.7 %4.1 %2.6 %3.8 %Intangible asset amortization(1)4 5 9 11 Restructuring charges(2)114 (7)223 8 Adjusted operating income$369 $381 $702 $714 % of revenue3.9 %4.1 %3.9 %3.9 %Effective tax rate26.8 %25.8 %18.3 %25.3 %Intangible asset amortization(1)— %— %0.2 %— %Restructuring charges(2)0.9 %— %8.7 %— %Loss on disposal of subsidiaries(3)0.1 %— %0.2 %— %Adjusted effective tax rate27.8 %25.8 %27.4 %25.3 %Diluted EPS$0.87 $1.34 $1.82 $2.47 Intangible asset amortization(1)0.02 0.03 0.04 0.05 Restructuring charges(2)0.54 (0.03)1.05 0.04 Loss on disposal of subsidiaries(3)0.02 - 0.02 - Income tax impact of non-GAAP adjustments(4)(0.17)- (0.50)(0.02)Adjusted diluted EPS$1.28 $1.34 $2.43 $2.54 

For additional information regarding the nature of charges discussed below, refer to Note 2, Restructuring, and Note 3, Goodwill and Intangible Assets, of the Notes to Condensed Consolidated Financial Statements, included in this Quarterly Report on Form 10-Q.

(1)Represents the non-cash amortization of definite-lived intangible assets associated with acquisitions, including customer relationships, tradenames and developed technology assets. 

(2)Represents charges for the three and six months ended August 2, 2025, primarily related to a labor and store optimization initiative that commenced in the second quarter of fiscal 2026, and charges and subsequent adjustments related to a restructuring initiative within our Best Buy Health business that commenced in the first quarter of fiscal 2026