Best Buy 2005 Annual Report Download - page 37

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Item 6. Selected Financial Data.
The following table presents our selected financial data. The table should be read in conjunction with Item 7,
Management’s Discussion and Analysis of Financial Condition and Results of Operations, and Item 8, Financial
Statements and Supplementary Data, of this Annual Report on Form 10-K. Certain prior-year amounts have been
reclassified to conform to the current-year presentation. All fiscal years presented reflect the classification of Musicland’s
financial results as discontinued operations.
Five-Year Financial Highlights
$ in millions, except per share amounts
Fiscal Year(1) 2005(2) 2004 2003 2002(3) 2001(3)
Consolidated Statements of Earnings Data
Revenue $27,433 $24,548 $20,943 $17,711 $15,189
Operating income 1,442 1,304 1,010 908 611
Earnings from continuing operations 934 800 622 570 401
Loss from discontinued operations, net of
tax — (29) (441) — (5)
Gain (loss) on disposal of discontinued
operations, net of tax 50 (66) — — —
Cumulative effect of change in accounting
principles, net of tax(4) — — (82) — —
Net earnings 984 705 99 570 396
Per Share Data(5)
Continuing operations $2.79 $2.41 $1.90 $1.77 $1.26
Discontinued operations — (0.09) (1.34) — (0.02)
Gain (loss) on disposal of discontinued
operations 0.15 (0.20) — — —
Cumulative effect of accounting changes — — (0.25) — —
Net earnings 2.94 2.13 0.31 1.77 1.24
Cash dividends declared and paid 0.42 0.40 — — —
Common stock price:
High 62.20 62.70 53.75 51.47 59.25
Low 43.87 25.55 16.99 22.42 14.00
Operating Statistics
Comparable store sales change(6) 4.3% 7.1% 2.4% 1.9% 4.9%
Gross profit rate 23.7% 23.9% 23.6% 20.0% 18.5%
Selling, general and administrative expense
rate 18.4% 18.6% 18.8% 14.9% 14.5%
Operating income rate 5.3% 5.3% 4.8% 5.1% 4.0%
Year-End Data
Current ratio(7) 1.4 1.3 1.3 1.2 1.1
Total assets(7) $10,294 $8,652 $7,694 $7,367 $4,840
Long-term debt, including current portion(7) 600 850 834 820 296
Total shareholders’ equity 4,449 3,422 2,730 2,521 1,822
Number of stores
U.S. Best Buy stores 668 608 548 481 419
Magnolia Audio Video stores 20 22 19 13 13
International stores 144 127 112 95 —
Total retail square footage (000s)
U.S. Best Buy stores 28,260 26,421 24,243 21,599 19,010
Magnolia Audio Video stores 194 218 189 133 133
International stores 3,139 2,800 2,375 1,923 —
(1) Fiscal 2001 included 53 weeks. All other periods presented included 52 weeks.
Footnotes continue on page 22.
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