Company: BBY
Filing Date: 2025-12-05
Form Type: 10-Q
Source: 0000764478-25-000057
Chunk: 121

Company: BEST BUY CO INC
Filing Date: 2025-12-05
Form: 10-Q
Item: Part I, Item 2
Chunk 121
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 %— %Restructuring charges(3)(1.5)%— %3.2 %— %Goodwill and intangible asset impairments(2)(3.7)%— %0.5 %— %Loss on disposal of subsidiaries(4)— %— %0.1 %— %Adjusted effective tax rate24.6 %23.8 %26.4 %24.8 %Diluted EPS$0.66 $1.26 $2.48 $3.73 Intangible asset amortization(1)0.02 0.02 0.06 0.07 Long-lived asset impairment(2)0.10 - 0.10 - Restructuring charges(3)(0.03)(0.02)1.02 0.02 Goodwill and intangible asset impairments(2)0.81 - 0.80 - Loss on disposal of subsidiaries(4)- - 0.02 - Income tax impact of non-GAAP adjustments(5)(0.16)- (0.66)(0.02)Adjusted diluted EPS$1.40 $1.26 $3.82 $3.80 

For additional information regarding the nature of charges discussed below, refer to Note 2, Restructuring; Note 3, Goodwill and Intangible Assets; and Note 4, Fair Value Measurements, 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 incurred related to Best Buy Health, comprised of non-cash impairments of goodwill, intangible assets and certain long-lived assets.

(3)Represents charges and subsequent adjustments for the three and nine months ended November 1, 2025, primarily related to a labor and store optimization initiative that commenced in the second quarter of fiscal 2026, and a restructuring initiative within our Best Buy Health business that commenced in the first quarter of fiscal 2026. Charges and subsequent adjustments for the three and nine months ended November 2, 2024, primarily related to an enterprise-wide restructuring initiative that commenced in the fourth quarter of fiscal 2024. 

(