Best Buy 2011 Annual Report Download - page 125

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$ in millions, except per share amounts or as otherwise noted
Condensed Consolidating Statements of Earnings
Fiscal Year Ended February 28, 2009
Best Buy Guarantor Non-Guarantor
Co., Inc. Subsidiary Subsidiaries Eliminations Consolidated
Revenue $ 16 $32,407 $47,925 $(35,333) $45,015
Cost of goods sold — 26,793 42,316 (35,092) 34,017
Gross profit 16 5,614 5,609 (241) 10,998
Selling, general and administrative expenses 150 5,317 3,499 18 8,984
Restructuring charges — 43 35 — 78
Goodwill and tradename impairment — — 66 — 66
Operating (loss) income (134) 254 2,009 (259) 1,870
Other income (expense)
Investment income and other 12 — 206 (183) 35
Investment impairment — — (111) — (111)
Interest expense (211) (47) (19) 183 (94)
Equity in earnings (loss) of subsidiaries 1,293 (146) 108 (1,255) —
Earnings before income tax expense and
equity in income of affiliates 960 61 2,193 (1,514) 1,700
Income tax (benefit) expense (302) 99 877 — 674
Equity in income of affiliates — — 7 — 7
Net earnings (loss) including noncontrolling
interests 1,262 (38) 1,323 (1,514) 1,033
Net earnings attributable to noncontrolling
interests — — (30) — (30)
Net earnings (loss) attributable to Best Buy
Co., Inc. $1,262 $ (38) $ 1,293 $ (1,514) $ 1,003
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