Best Buy 2011 Annual Report Download - page 96

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$ in millions, except per share amounts or as otherwise noted
Fair Value Measurements Using Inputs
Considered as
Quoted Prices Significant
in Active Other Significant
Markets for Observable Unobservable
Fair Value at Identical Assets Inputs Inputs
February 27, 2010 (Level 1) (Level 2) (Level 3)
Assets
Cash and cash equivalents
Money market funds $752 $752 $ — $ —
U.S. Treasury bills 300 300 — —
Short-term investments
Money market fund 2 — 2 —
Auction rate securities 88 — — 88
Other current assets
Money market funds (restricted assets) 123 123 — —
U.S. Treasury bills (restricted assets) 25 25 — —
Foreign currency derivative instruments 4 — 4 —
Equity and other investments
Auction rate securities 192 — — 192
Marketable equity securities 77 77 — —
Other assets
Marketable securities that fund deferred
compensation 75 75 — —
Liabilities
Long-term liabilities
Deferred compensation 61 61 — —
The following table provides a reconciliation between the beginning and ending balances of items measured at fair value
on a recurring basis in the tables above that used significant unobservable inputs (Level 3).
Debt securities — Auction rate securities only
Student Municipal Auction
loan revenue preferred
bonds bonds securities Total
Balances at February 28, 2009 $ 276 $ 24 $ 14 $ 314
Changes in unrealized losses in other comprehensive income 8 1 1 10
Sales (22) (6) (15) (43)
Interest received (1) — — (1)
Balances at February 27, 2010 $ 261 $ 19 $ — $ 280
Changes in unrealized losses in other comprehensive income (1) 1 — —
Sales (152) (18) — (170)
Balances at February 26, 2011 $ 108 $ 2 $ — $ 110
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