Best Buy 2003 Annual Report Download - page 159
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Additions to property and equipment (725) (581) (657)
Acquisitions of businesses, net of cash acquired (3) (368) (326)
Decrease (increase) in recoverable costs from developed properties 69 25 (31)
Increase in other assets — — (15)
Total cash used in investing activities from continuing operations (659) (924) (1,029)
Financing Activities
Net proceeds from issuance of long−term debt 18 726 —
Long−term debt payments (13) (5) (17)
Issuance of common stock 40 48 235
Total cash provided by financing activities from continuing operations 45 769 218
Net Cash Used in Discontinued Operations (79) (270) (58)
Increase (Decrease) in Cash and Cash Equivalents 53 1,118 (8)
Cash and Cash Equivalents at Beginning of Year 1,861 743 751
Cash and Cash Equivalents at End of Year $ 1,914 $ 1,861 $ 743
Supplemental Disclosure of Cash Flow Information
Income tax paid $ 283 $ 139 $ 62
Interest paid 24 25 7
See Notes to Consolidated Financial Statements.
45
Consolidated Statements of Changes in Shareholders’ Equity
$ and shares in millions
Common
Shares Common
Stock
Additional
Paid−In
Capital Retained
Earnings
Accumulated
Other
Comprehensive
Income (Loss) Total
Balances at Feb. 26, 2000 301 $ 30 $ 238 $ 828 $ —$ 1,096
Net earnings — — — 396 — 396
Stock options exercised 6 — 36 — — 36
Tax benefit from stock options
exercised — — 93 — — 93
Stock issuance 5 1 200 — — 201
Balances at March 3, 2001 312 31 567 1,224 — 1,822
Net earnings — — — 570 — 570
Other comprehensive loss, net of
tax:
Foreign currency translation
adjustments — — — — (5) (5)
Other — — — — (1) (1)
Total comprehensive income — — — 570 (6) 564
Stock options exercised 7 — 49 — — 49
Tax benefit from stock options
exercised — — 86 — — 86
Balances at March 2, 2002 319 31 702 1,794 (6) 2,521
Net earnings — — — 99 — 99
Other comprehensive income (loss),
net of tax: