Best Buy 2006 Annual Report Download - page 99

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$ in millions, except per share amounts
85
PART II
Condensed Consolidating Balance Sheets
As of February 26, 2005
Best Buy
Co., Inc.
Guarantor
Subsidiary
Non-Guarantor
SubsidiariesEliminations Consolidated
Assets
Current Assets
Cash and cash equivalents $ 59 $62 $ 233 $ — $ 354
Short-term investments 2,885 — 109 — 2,994
Receivables12 314 48 1 375
Merchandise inventories —2,747 454(350 ) 2,851
Other current assets 34 139200 (44 ) 329
Intercompany receivable— — 2,826 (2,826) —
Intercompany note receivable 500 —— (500 ) —
Total current assets 3,490 3,262 3,870(3,719) 6,903
Net Property and Equipment 250 1,504 713(3) 2,464
Goodwill — 3 510 — 513
Tradename — — 40— 40
Long-Term Investments 148 — — — 148
Other Assets 80171 142(167 ) 226
Investments in Subsidiaries 3,456 — 1,094 (4,550) —
Total Assets $7,424 $4,940 $6,369 $(8,439 ) $10,294
Liabilities and Shareholders’ Equity
Current Liabilities
Accounts payable $— $ —$2,824 $— $2,824
Unredeemedgift card liabilities—39317— 410
Accrued compensation and related
expenses 2 166 66 — 234
Accrued liabilities 5548 335(44 ) 844
Accrued income taxes 504 269— 575
Current portion of long-term debt 3663— 72
Intercompany payable 1,441 1,398 —(2,839) —
Intercompany note payable —500 — (500 ) —
Total current liabilities 1,955 3,073 3,314(3,383) 4,959
Long-Term Liabilities 227 693 56 (618 ) 358
Long-Term Debt 417 8031— 528
Shareholders’ Equity 4,825 1,094 2,968 (4,438) 4,449
Total Liabilities and Shareholders’ Equity $7,424 $4,940 $6,369 $(8,439 ) $10,294