Best Buy 2008 Annual Report Download - page 69
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Consolidated Balance Sheets
$ in millions, except per share and share amounts
March 1, March 3,
2008 2007
Assets
Current Assets
Cash and cash equivalents $ 1,438 $ 1,205
Short-term investments 64 2,588
Receivables 549 548
Merchandise inventories 4,708 4,028
Other current assets 583 712
Total current assets 7,342 9,081
Property and Equipment
Land and buildings 732 705
Leasehold improvements 1,752 1,540
Fixtures and equipment 3,057 2,627
Property under capital lease 67 32
5,608 4,904
Less accumulated depreciation 2,302 1,966
Net property and equipment 3,306 2,938
Goodwill 1,088 919
Tradenames 97 81
Equity and Other Investments 605 338
Other Assets 320 213
Total Assets $12,758 $13,570
Liabilities and Shareholders’ Equity
Current Liabilities
Accounts payable $ 4,297 $ 3,934
Unredeemed gift card liabilities 531 496
Accrued compensation and related expenses 373 332
Accrued liabilities 975 990
Accrued income taxes 404 489
Short-term debt 156 41
Current portion of long-term debt 33 19
Total current liabilities 6,769 6,301
Long-Term Liabilities 838 443
Long-Term Debt 627 590
Minority Interests 40 35
Shareholders’ Equity
Preferred stock, $1.00 par value: Authorized — 400,000 shares; Issued and outstanding —
none ——
Common stock, $.10 par value: Authorized — 1.0 billion shares; Issued and outstanding —
410,578,000 and 480,655,000 shares, respectively 41 48
Additional paid-in capital 8 430
Retained earnings 3,933 5,507
Accumulated other comprehensive income 502 216
Total shareholders’ equity 4,484 6,201
Total Liabilities and Shareholders’ Equity $12,758 $13,570
See Notes to Consolidated Financial Statements.
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