Company: BBY
Filing Date: 2025-12-05
Form Type: 10-Q
Source: 0000764478-25-000057
Chunk: 11

Company: BEST BUY CO INC
Filing Date: 2025-12-05
Form: 10-Q
Item: Part I, Item 1
Chunk 11
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 2025November 2, 2024Revenue$9,672$9,445$27,877$27,580Cost of sales7,4247,22821,38621,113Gross profit2,2482,2176,4916,467Selling, general and administrative expenses1,8841,8715,4345,418Restructuring charges(5)(4)2184Goodwill and intangible asset impairments171-171-Operating income1983506681,045Other income (expense):Loss on disposal of subsidiaries--(4)-Investment income and other19195265Interest expense(12)(13)(36)(38)Earnings before income tax expense and equity in income (loss) of affiliates2053566801,072Income tax expense6485151266Equity in income (loss) of affiliates(1)2(1)4Net earnings$140$273$528$810Basic earnings per share$0.67$1.27$2.50$3.76Diluted earnings per share$0.66$1.26$2.48$3.73Weighted-average common shares outstanding:Basic210.7214.8211.4215.7Diluted212.1216.7212.7217.2

See Notes to Condensed Consolidated Financial Statements.

4

Table of Contents

Condensed Consolidated Statements of Comprehensive Income

$ in millions (unaudited)

Three Months EndedNine Months EndedNovember 1, 2025November 2, 2024November 1, 2025November 2, 2024Net earnings$140$273$528$810Foreign currency translation adjustments, net of tax(4)(1)9(8)Comprehensive income$136$272$537$802

See Notes to Condensed Consolidated Financial Statements.

5

Condensed Consolidated Statements of Cash Flows

$ in millions (unaudited)

Nine Months EndedNovember 1, 2025November 2, 2024Operating activitiesNet earnings$528$810Adjustments to reconcile net earnings to total cash provided by operating activities:Depreciation and amortization628650Restructuring charges2184Goodwill and intangible asset impairments171-Stock-based compensation106108Deferred income taxes371Loss on disposal of subsidiaries4-Long-lived asset impairments212Other, net6-Changes in operating assets and liabilities:Receivables234Mer