Company: BBY
Filing Date: 2025-12-05
Form Type: 10-Q
Source: 0000764478-25-000057
Chunk: 19

Company: BEST BUY CO INC
Filing Date: 2025-12-05
Form: 10-Q
Item: Part I, Item 1
Chunk 19
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 our Best Buy Health business in the second quarter of fiscal 2026. See Note 2, Restructuring, for additional information. (2)Accumulated amortization as of November 1, 2025, includes $53 million of impairments related to Best Buy Health included in Goodwill and intangible asset impairments on our Condensed Consolidated Statements of Earnings.

11

Amortization expense, included in Selling, general and administrative expenses ("SG&A") on our Condensed Consolidated Statements of Earnings, was as follows ($ in millions):Three Months EndedNine Months EndedNovember 1, 2025November 2, 2024November 1, 2025November 2, 2024Amortization expense$3 $5 $12$16Amortization expense expected to be recognized in future periods is as follows ($ in millions):Amortization ExpenseRemainder of fiscal 2026$2Fiscal 20275

4.     Fair Value Measurements

Fair value measurements are reported in one of three levels based on the lowest level of significant input used: Level 1 (unadjusted quoted prices in active markets); Level 2 (observable market inputs, other than quoted prices included in Level 1); and Level 3 (unobservable inputs that cannot be corroborated by observable market data).Recurring Fair Value MeasurementsFinancial assets and liabilities accounted for at fair value were as follows ($ in millions):Fair Value as ofBalance Sheet Location(1)Fair Value HierarchyNovember 1, 2025February 1, 2025November 2, 2024AssetsMoney market funds(2)Cash and cash equivalentsLevel 1$29$439$40Time deposits(3)Cash and cash equivalentsLevel 21341505Money market funds(2)Other current assetsLevel 1122140139Time deposits(3)Other current assetsLevel 2405050Marketable securities that fund deferred compensation(4)Other assetsLevel 1413938LiabilitiesInterest rate swap derivative instruments(5)Long-term liabilitiesLevel 271416(1)Balance sheet location is determined by the length to maturity at date of purchase and whether the assets are restricted for particular use.(2)Valued at quoted market prices in active markets at period end.(3)Valued at face value plus accrued interest at period end, which approximates fair value.(4)Valued using the performance of mutual funds that trade with sufficient frequency and volume to obtain pricing