Best Buy 2013 Annual Report Download - page 99
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99
The following table presents the amount and cost of shares we repurchased and retired in fiscal 2013 (11-month), 2012 and
2011 under the June 2011 program and the June 2007 program ($ and shares in millions):
11-Month 12-Month
2013 2012 2011
June 2011 Program
Total number of shares repurchased 6.3 34.5 —
Total cost of shares repurchased $ 122 $ 889 $ —
June 2007 Program
Total number of shares repurchased — 20.1 32.6
Total cost of shares repurchased $ — $ 611 $ 1,193
At February 2, 2013, $4.0 billion remained available for additional purchases under the June 2011 share repurchase program.
Repurchased shares have been retired and constitute authorized but unissued shares.
Comprehensive Income (Loss)
Comprehensive income (loss) is computed as net earnings (loss) plus certain other items that are recorded directly to
shareholders' equity. In addition to net earnings (loss), the significant components of comprehensive income (loss) include
foreign currency translation adjustments and unrealized gains and losses, net of tax, on available-for-sale marketable equity
securities and on derivative instruments. Foreign currency translation adjustments do not include a provision for income tax
expense when earnings from foreign operations are considered to be indefinitely reinvested outside the U.S.
The components of accumulated other comprehensive income, net of tax, were as follows ($ in millions):
February 2, 2013 March 3, 2012
Foreign currency translation $ 113 $ 93
Unrealized losses on available-for-sale investments (1)(3)
Total $ 112 $ 90
11. Leases
The composition of net rent expense for all operating leases, including leases of property and equipment, was as follows in
fiscal 2013 (11-month), 2012 and 2011 ($ in millions):
11-Month 12-Month
2013 2012 2011
Minimum rentals $ 1,080 $ 1,192 $ 1,141
Contingent rentals 1 2 2
Total rent expense 1,081 1,194 1,143
Less: sublease income (16)(19)(19)
Net rent expense $ 1,065 $ 1,175 $ 1,124
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