Company: BBY
Filing Date: 2025-06-24
Form Type: 11-K
Source: 0000764478-25-000029
Chunk: 6

Company: BEST BUY CO INC
Filing Date: 2025-06-24
Form: 11-K
Chunk 6
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 valuation methodologies used for assets measured at fair value. There have been no changes in the methodologies used at December 31, 202 4 , and December 31, 202 3 . Cash and cash equivalents - Investments that are comprised of money market funds with initial maturities of three months or less. Such amounts are valued at quoted prices in active markets. Best Buy Co., Inc. stock fund - A unitized stock fund consisting of Best Buy common stock. T he total fair value of the fund is equal to the quoted market value of total common stock , which approximates fair value. Registered investment companies - Shares of mutual funds traded and valued at quoted market prices, which approximates fair value. Stable value fund - T he portion of the Galliard Stable Value fund , the Short T erm Investment Fund II , which invest s in highly liquid assets used for daily liquidity needs and is traded and valued at quoted market prices . See Note 4, Stable Value Fund , for additional information. Pooled funds - Not classified in the fair value hierarchy as they are valued using the NAV (or its equivalent) , based on the value of the underlying assets owned by the fund less its liabilities, and this difference is then divided by the number of units outstanding. The investments measured at NAV include pooled separate accounts. The unit price s of the investments are quoted on a private market that is not active; however, the unit price s are based on underlying investments which are based on observable inputs. There were no unfunded commitments for the periods presented. 4. Stable Value Fund The Plan holds investments in the Galliard Stable Value Fun d (the “Fund” ). The Fund is exclusively managed for the Plan and all underlying investments are held directly by the Plan. The Fund primarily invests in s ecurity-backed (synthetic) GICs that meet the fully benefit ‐ responsive investment contract (“FBRIC”) criteria and, therefore, are reported at contract value. Contract value is the relevant measure for FBRICs because this is the amount received by participants when they initiate permitted transactions under the terms of the Plan. Contract value represents contributions made under each contract, plus earnings, less withdrawals. The Fund also invests in Short T erm Investment Fund II , which invests in highly liquid assets used for daily liquidity needs , and therefore is reported at fair value. See Note 3, Fair Value Measurements, for additional information. Synthetic GICs are issued by insurance companies or other financial institutions, backed by a portfolio of bonds. The