Company: BBY
Filing Date: 2025-09-05
Form Type: 10-Q
Source: 0000764478-25-000040
Chunk: 18

Company: BEST BUY CO INC
Filing Date: 2025-09-05
Form: 10-Q
Item: Part I, Item 1
Chunk 18
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 full impairment of $16 million related to our only remaining indefinite-lived intangible asset as a result of restructuring activity that commenced in the second quarter of fiscal 2026. Refer to Note 2, Restructuring, for additional information.Definite-Lived Intangible AssetsWe have definite-lived intangible assets recorded within Other assets on our Condensed Consolidated Balance Sheets as follows ($ in millions):August 2, 2025February 1, 2025August 3, 2024Weighted-Average Useful Life Remainingas of August 2, 2025(in years)Gross Carrying Amount(1)Accumulated Amortization(1)Gross Carrying AmountAccumulated AmortizationGross Carrying AmountAccumulated AmortizationCustomer relationships$339$284$360$285$360$2808.0Tradenames8778927992751.2Developed technology565664616460-Total$482$418$516$425$516$4157.0(1)Gross carrying amount and accumulated amortization as of August 2, 2025, excludes $34 million and $16 million, respectively, of definite-lived intangible assets related to the exit of a component of our Best Buy Health business. See Note 2, Restructuring, for additional information. Amortization expense included in Selling, general and administrative expenses ("SG&A") on our Condensed Consolidated Statements of Earnings was as follows ($ in millions):Three Months EndedSix Months EndedAugust 2, 2025August 3, 2024August 2, 2025August 3, 2024Amortization expense$4 $5 $9$11Amortization expense expected to be recognized in future periods is as follows ($ in millions):Amortization ExpenseRemainder of fiscal 2026$7Fiscal 202713Fiscal 20288Fiscal 20297Fiscal 20306Fiscal 20315Thereafter18

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Table of Contents

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