Best Buy 2012 Annual Report Download - page 109

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$ in millions, except per share amounts or as otherwise noted
109
Quarter Fiscal
Year
1st 2nd 3rd 4th
Fiscal 2011
Revenue $ 10,674 $ 11,216 $ 11,774 $ 16,083 $ 49,747
Comparable store sales % change(1) 2.9% (0.1)% (3.4)% (4.7)% (1.8)%
Gross profit $ 2,762 $ 2,888 $ 2,962 $ 3,929 $ 12,541
Operating income(5) 348 456 433 1,137 2,374
Net earnings from continuing operations 208 274 280 792 1,554
Loss from discontinued operations, net of tax (27) (17) (40) (104) (188)
Net earnings including noncontrolling interests 181 257 240 688 1,366
Net earnings attributable to Best Buy Co., Inc. 155 254 217 651 1,277
Diluted earnings (loss) per share(4)
Continuing operations 0.41 0.62 0.61 1.84 3.44
Discontinued operations (0.05) (0.02) (0.07) (0.22) (0.36)
Diluted earnings per share 0.36 0.60 0.54 1.62 3.08
Note: Certain fiscal year totals may not add due to rounding.
(1) Comprised of revenue from stores operating for at least 14 full months as well as revenue related to call centers, Web sites and our other comparable sales
channels. Revenue we earn from sales of merchandise to wholesalers or dealers is not included within our comparable store sales calculation. Relocated,
remodeled and expanded stores are excluded from our comparable store sales calculation until at least 14 full months after reopening. Acquired stores are
included in our comparable store sales calculation beginning with the first full quarter following the first anniversary of the date of the acquisition. The
portion of our calculation of the comparable store sales percentage change attributable to our International segment excludes the effect of fluctuations in
foreign currency exchange rates. The method of calculating comparable store sales varies across the retail industry. As a result, our method of calculating
comparable store sales may not be the same as other retailers' methods. The calculation of comparable store sales excludes the impact of the extra week of
revenue in the fourth quarter of fiscal 2012, as well as revenue from discontinued operations for all periods presented.
(2) Includes $1, $22 and $35 of restructuring charges recorded in the fiscal second, third and fourth quarters, respectively, related to measures we took to
restructure our businesses, as well as a $1,207 goodwill impairment charge recorded in the fourth quarter related to our Best Buy Europe reporting unit.
(3) Includes a $1,303 payment related to the Mobile buy-out recorded in the fourth quarter of fiscal 2012.
(4) The sum of our quarterly diluted earnings per share does not equal our annual diluted earnings per share due to the impact of the timing of the repurchases
of common stock and stock option exercises on quarterly and annual weighted-average shares outstanding.
(5) Includes $147 of restructuring charges recorded in the fiscal fourth quarter related to measures we took to restructure our businesses.