Best Buy 2016 Annual Report Download - page 100

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92
13. Supplementary Financial Information (Unaudited)
The following tables show selected operating results for each 3-month quarter and full year of fiscal 2016 and 2015 (unaudited)
($ in millions):
Quarter 12-Month
1st 2nd 3rd 4th 2016
Revenue $ 8,558 $ 8,528 $ 8,819 $ 13,623 $ 39,528
Comparable sales % change(1) 0.6 % 3.8% 0.8% (1.7)% 0.5 %
Comparable sales % gain (decline), excluding
estimated impact of installment billing(5) (0.7)% 2.7% 0.5% (1.8)% (0.1)%
Gross profit $ 2,030 $ 2,098 $ 2,112 $ 2,951 $ 9,191
Operating income(2) 86 288 230 771 1,375
Net earnings from continuing operations 37 164 129 477 807
Gain (loss) from discontinued operations, net of tax 92 — (4)2 90
Net earnings including noncontrolling interests 129 164 125 479 897
Net earnings attributable to Best Buy Co., Inc.
shareholders 129 164 125 479 897
Diluted earnings (loss) per share(3)
Continuing operations $ 0.10 $ 0.46 $ 0.37 $ 1.39 $ 2.30
Discontinued operations 0.26 — (0.01) 0.01 0.26
Diluted earnings per share $ 0.36 $ 0.46 $ 0.36 $ 1.40 $ 2.56
Quarter 12-Month
1st 2nd 3rd 4th 2015
Revenue $ 8,639 $ 8,459 $ 9,032 $ 14,209 $ 40,339
Comparable sales % gain (decline)(1) (1.8)% (2.2)% 2.9% 2.0% 0.5%
Comparable sales % gain (decline), excluding
estimated impact of installment billing(5)(6) (1.8)% (2.2)% 2.2% 1.3% —%
Gross profit $ 1,967 $ 1,978 $ 2,076 $ 3,026 $ 9,047
Operating income(4) 210 225 205 810 1,450
Net earnings from continuing operations 469 137 116 524 1,246
Gain (loss) from discontinued operations, net of tax (8) 10 (9)(4)(11)
Net earnings including noncontrolling interests 461 147 107 520 1,235
Net earnings attributable to Best Buy Co., Inc.
shareholders 461 146 107 519 1,233
Diluted earnings (loss) per share(3)
Continuing operations $ 1.33 $ 0.39 $ 0.33 $ 1.47 $ 3.53
Discontinued operations (0.02) 0.03 (0.03)(0.01)(0.04)
Diluted earnings per share $ 1.31 $ 0.42 $ 0.30 $ 1.46 $ 3.49
(1) Our comparable sales calculation compares revenue from stores, websites and call centers operating for at least 14 full months, as well as revenue related
to certain other comparable sales channels for a particular period to a corresponding period in the prior year. Relocated, as well as remodeled, expanded
and downsized stores closed more than 14 days, are excluded from our comparable sales calculation until at least 14 full months after reopening.
Acquisitions are included in the comparable sales calculation beginning with the first full quarter following the first anniversary of the date of the
acquisition. The portion of the calculation of comparable sales attributable to our International segment excludes the effect of fluctuations in foreign
currency exchange rates. The calculation of comparable sales excludes the impact of revenue from discontinued operations. Comparable online sales are
included in our comparable sales calculation. The method of calculating comparable sales varies across the retail industry. As a result, our method of
calculating comparable sales may not be the same as other retailers' methods.
(2) Includes $186 million, $(4) million, $7 million and $12 million of restructuring charges recorded in the fiscal first, second, third and fourth quarters,
respectively, and $201 million for the 12 months ended January 30, 2016 related to measures we took to restructure our businesses.