Company: BBY
Filing Date: 2025-09-05
Form Type: 10-Q
Source: 0000764478-25-000040
Chunk: 11

Company: BEST BUY CO INC
Filing Date: 2025-09-05
Form: 10-Q
Item: Part I, Item 1
Chunk 11
---
, 2025August 3, 2024Revenue$9,438$9,288$18,205$18,135Cost of sales7,2447,10213,96213,885Gross profit2,1942,1864,2434,250Selling, general and administrative expenses1,8291,8103,5503,547Restructuring charges114(7)2238Operating income251383470695Other income (expense):Loss on disposal of subsidiaries(4)-(4)-Investment income and other18213346Interest expense(12)(13)(24)(25)Earnings before income tax expense and equity in income of affiliates253391475716Income tax expense6810187181Equity in income of affiliates11-2Net earnings$186$291$388$537Basic earnings per share$0.88$1.35$1.83$2.49Diluted earnings per share$0.87$1.34$1.82$2.47Weighted-average common shares outstanding:Basic211.5216.0211.8216.1Diluted212.0217.1212.5217.2

See Notes to Condensed Consolidated Financial Statements.

4

Table of Contents

Condensed Consolidated Statements of Comprehensive Income

$ in millions (unaudited)

Three Months EndedSix Months EndedAugust 2, 2025August 3, 2024August 2, 2025August 3, 2024Net earnings$186$291$388$537Foreign currency translation adjustments, net of tax-(2)13(7)Comprehensive income$186$289$401$530

See Notes to Condensed Consolidated Financial Statements.

5

Table of Contents

Condensed Consolidated Statements of Cash Flows

$ in millions (unaudited)

Six Months EndedAugust 2, 2025August 3, 2024Operating activitiesNet earnings$388$537Adjustments to reconcile net earnings to total cash provided by operating activities:Depreciation and amortization422437Restructuring charges2238Stock-based compensation7574Deferred income taxes4510Loss on disposal of subsidiaries4-Other, net42Changes in operating assets and liabilities:Receivables12366Merchandise inventories(717)(761)Other assets(24)(11)Accounts payable693904Income taxes(167)(183)Other liabilities(286)(266)Total cash provided by operating