Best Buy 2008 Annual Report Download - page 101

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$ in millions, except per share amounts or as otherwise noted
The following tables present condensed consolidating balance sheets as of March 1, 2008, and March 3, 2007, and
condensed consolidating statements of earnings and cash flows for the fiscal years ended March 1, 2008; March 3,
2007, and February 25, 2006:
Condensed Consolidating Balance Sheets
At March 1, 2008
Best Buy Guarantor Non-Guarantor
Co., Inc. Subsidiary Subsidiaries Eliminations Consolidated
Assets
Current Assets
Cash and cash equivalents $ 171 $ 70 $ 1,197 $ — $ 1,438
Short-term investments — — 64 — 64
Receivables 3 340 206 — 549
Merchandise inventories — 5,293 1,172 (1,757) 4,708
Other current assets 2 206 425 (50) 583
Intercompany receivable — — 7,097 (7,097) —
Intercompany note receivable 500 — 3 (503) —
Total current assets 676 5,909 10,164 (9,407) 7,342
Net Property and Equipment 225 2,030 1,051 — 3,306
Goodwill — 6 1,082 — 1,088
Tradenames — — 97 — 97
Equity and Other Investments 278 2 325 — 605
Other Assets 104 11 205 — 320
Investments in Subsidiaries 9,108 280 1,358 (10,746) —
Total Assets $10,391 $8,238 $14,282 $(20,153) $12,758
Liabilities and Shareholders’ Equity
Current Liabilities
Accounts payable $ — $ — $ 4,297 $ — $ 4,297
Unredeemed gift card liabilities — 471 60 — 531
Accrued compensation and related
expenses — 200 173 — 373
Accrued liabilities 7 499 519 (50) 975
Accrued income taxes 404 — — — 404
Short-term debt 120 — 36 — 156
Current portion of long-term debt 2 16 15 — 33
Intercompany payable 3,016 4,081 — (7,097) —
Intercompany note payable 3 500 — (503) —
Total current liabilities 3,552 5,767 5,100 (7,650) 6,769
Long-Term Liabilities 110 970 189 (431) 838
Long-Term Debt 405 143 79 — 627
Minority Interests — — 40 — 40
Shareholders’ Equity 6,324 1,358 8,874 (12,072) 4,484
Total Liabilities and Shareholders’ Equity $10,391 $8,238 $14,282 $(20,153) $12,758
93