Best Buy 2011 Annual Report Download - page 124
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$ in millions, except per share amounts or as otherwise noted
Condensed Consolidating Statements of Earnings
Fiscal Year Ended February 27, 2010
Best Buy Guarantor Non-Guarantor
Co., Inc. Subsidiary Subsidiaries Eliminations Consolidated
Revenue $ 16 $34,347 $43,743 $(28,412) $49,694
Cost of goods sold — 25,809 39,292 (27,567) 37,534
Gross profit 16 8,538 4,451 (845) 12,160
Selling, general and administrative expenses 166 8,170 4,705 (3,168) 9,873
Restructuring charges — 25 27 — 52
Operating (loss) income (150) 343 (281) 2,323 2,235
Other income (expense)
Investment income and other 10 1 66 (23) 54
Interest expense (59) (21) (37) 23 (94)
Equity in (loss) earnings of subsidiaries (335) (3) 202 136 —
(Loss) earnings before income tax expense and
equity in income of affiliates (534) 320 (50) 2,459 2,195
Income tax expense 471 122 209 — 802
Equity in income of affiliates — — 1 — 1
Net (loss) earnings including noncontrolling
interests (1,005) 198 (258) 2,459 1,394
Net earnings attributable to noncontrolling
interests — — (77) — (77)
Net (loss) earnings attributable to Best Buy
Co., Inc. $(1,005) $ 198 $ (335) $ 2,459 $ 1,317
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