Best Buy 2003 Annual Report Download - page 158
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Basic earnings (loss) per share:
Continuing operations $ 1.93 $ 1.80 $ 1.29
Discontinued operations (1.37) — (0.02)
Cumulative effect of accounting changes (0.25) — —
Basic earnings per share $ 0.31 $ 1.80 $ 1.28
Diluted earnings (loss) per share:
Continuing operations $ 1.91 $ 1.77 $ 1.26
Discontinued operations (1.36) — (0.02)
Cumulative effect of accounting changes (0.25) — —
Diluted earnings per share $ 0.30 $ 1.77 $ 1.24
Basic weighted average common shares outstanding (in millions) 321.1 316.0 310.0
Diluted weighted average common shares outstanding (in millions) 324.8 322.5 319.0
Pro forma effect of change in accounting principle for vendor allowances
(note 1):
Earnings from continuing operations $ 564 $ 396
Basic earnings per share 1.78 1.28
Diluted earnings per share 1.75 1.24
Net earnings $ 564 $ 390
Basic earnings per share 1.78 1.26
Diluted earnings per share 1.75 1.22
See Notes to Consolidated Financial Statements.
44
Consolidated Statements of Cash Flows
$ in millions
For the Fiscal Years Ended March 1,
2003 March 2,
2002 March 3,
2001
Operating Activities
Net earnings $ 99 $ 570 $ 396
Loss from discontinued operations, net of tax 441 — 5
Cumulative effect of change in accounting principles, net of tax 82 — —
Earnings from continuing operations 622 570 401
Adjustments to reconcile earnings from continuing operations to net cash
provided by operating activities:
Depreciation 310 242 164
Deferred income taxes (37) 15 36
Amortization of goodwill — 3 1
Other 24 36 18
Changes in operating assets and liabilities, net of acquired assets and
liabilities:
Receivables (89) 1 (9)
Merchandise inventories (225) (324) (185)
Other assets (36) (24) (16)
Accounts payable (20) 575 159
Other liabilities 86 196 149
Accrued income taxes 111 253 143
Total cash provided by operating activities from continuing operations 746 1,543 861
Investing Activities