Company: BBY
Filing Date: 2025-05-01
Form Type: DEF 14A
Source: 0001140361-25-016935
Chunk: 108

Company: BEST BUY CO INC
Filing Date: 2025-05-01
Form: DEF 14A
Chunk 108
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 ​(3) |
| Intangible asset amortization(2)             |     |               21 |
| Goodwill impairment(3)                       |     |              475 |
| Adjusted operating income                    |     |           $1,755 |
| %of revenue                                  |     |             4.2% |
| Diluted EPS                                  |     |            $4.28 |
| Restructuring charges(1)                     |     |            -0.01 |
| Intangible asset amortization(2)             |     |             0.10 |
| Goodwill impairment(3)                       |     |             2.19 |
| Loss on investments                          |     |             0.03 |
| Income tax impact of non-GAAP adjustments(4) |     |            -0.22 |
| Adjusted diluted EPS                         |     |            $6.37 |

For additional information regarding the nature of charges discussed below, refer to Note 1, Summary of Significant Accounting Policies; Note 2, Restructuring, Note 3, Goodwill and Intangible Assets, and Note 10, Income Taxes, of the Notes to Consolidated Financial Statements, included in Item 8, Financial Statements and Supplementary Data, of our Annual Report on Form 10-K for the fiscal year ended February 1, 2025.

| (1) | Represents adjustments to previously planned organizational changes and higher-than-expected employee retention associated with enterprise-wide restructuring initiatives. |

| (2) | Represents the non-cash amortization of definite-lived intangible assets associated with acquisitions, including customer relationships, tradenames and developed technology assets. |

| (3) | Represents the non-cash goodwill impairment charge related to our Best Buy Health reporting unit. |

| (4) | The non-GAAP adjustments primarily relate to the U.S. As such, the income tax charge on the U.S. non-GAAP adjustments is calculated using the U.S. statutory tax rate of 24.5%. There is no income tax for a portion of the U.S. non-GAAP adjustments, as there is no tax benefit on the expenses in the calculation of GAAP income tax expense. |

| 2025 Proxy Statement |     | 109 |

TABLE OF CONTENTS

Annex A AMENDMENT NO. 1 TO THE BEST BUY CO., INC. 2020 OMNIBUS INCENTIVE PLAN THIS AMENDMENT NO. 1 (this “Amendment”) to the Best