Best Buy 2016 Annual Report Download - page 64

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56
Consolidated Statements of Earnings
$ in millions, except per share amounts
Fiscal Years Ended January 30,
2016
January 31,
2015
February 1,
2014
Revenue $ 39,528 $ 40,339 $ 40,611
Cost of goods sold 30,334 31,292 31,212
Restructuring charges — cost of goods sold 3 — —
Gross profit 9,191 9,047 9,399
Selling, general and administrative expenses 7,618 7,592 8,106
Restructuring charges 198 5 149
Operating income 1,375 1,450 1,144
Other income (expense)
Gain on sale of investments 2 13 20
Investment income and other 13 14 19
Interest expense (80)(90)(100)
Earnings from continuing operations before income tax expense 1,310 1,387 1,083
Income tax expense 503 141 388
Net earnings from continuing operations 807 1,246 695
Gain (loss) from discontinued operations (Note 2), net of tax benefit (expense) of
$(1), $0 and $31 90 (11)(172)
Net earnings including noncontrolling interests 897 1,235 523
Net (earnings) loss from discontinued operations attributable to noncontrolling
interests — (2)9
Net earnings attributable to Best Buy Co., Inc. shareholders $ 897 $ 1,233 $ 532
Basic earnings (loss) per share attributable to Best Buy Co., Inc. shareholders
Continuing operations $ 2.33 $ 3.57 $ 2.03
Discontinued operations 0.26 (0.04)(0.47)
Basic earnings per share $ 2.59 $ 3.53 $ 1.56
Diluted earnings (loss) per share attributable to Best Buy Co., Inc. shareholders
Continuing operations $ 2.30 $ 3.53 $ 2.00
Discontinued operations 0.26 (0.04)(0.47)
Diluted earnings per share $ 2.56 $ 3.49 $ 1.53
Weighted-average common shares outstanding (in millions)
Basic 346.5 349.5 342.1
Diluted 350.7 353.6 347.6
See Notes to Consolidated Financial Statements.