Best Buy 2005 Annual Report Download - page 101

Download and view the complete annual report

Please find page 101 of the 2005 Best Buy annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 118

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118

$ in millions, except per share amounts
The following tables present condensed consolidating balance sheets for the fiscal years ended February 26, 2005, and
February 28, 2004, and condensed consolidating statements of earnings and cash flows for the fiscal years ended
February 26, 2005; February 28, 2004; and March 1, 2003:
Condensed Consolidating Balance Sheets
As of February 26, 2005
Best Buy Guarantor Non-Guarantor
Co., Inc. Subsidiary Subsidiaries Eliminations Consolidated
Assets
Current Assets
Cash and cash equivalents $ 175 $ 62 $ 233 $ — $ 470
Short-term investments 2,769 — 109 — 2,878
Receivables 12 314 48 1 375
Merchandise inventories — 2,747 454 (350) 2,851
Other current assets 34 139 200 (44) 329
Intercompany receivable — — 2,826 (2,826) —
Intercompany note receivable 500 — — (500) —
Total current assets 3,490 3,262 3,870 (3,719) 6,903
Net Property and Equipment 250 1,504 713 (3) 2,464
Goodwill — 3 510 — 513
Tradename — — 40 — 40
Long-Term Investments 148 — — — 148
Other Assets 80 171 142 (167) 226
Investments in Subsidiaries 3,456 — 1,094 (4,550) —
Total Assets $7,424 $4,940 $6,369 $(8,439) $10,294
Liabilities and Shareholders’ Equity
Current Liabilities
Accounts payable $ — $ — $2,824 $ — $ 2,824
Unredeemed gift card liabilities — 393 17 — 410
Accrued compensation and related expenses 2 166 66 — 234
Accrued liabilities 5 548 335 (44) 844
Accrued income taxes 504 2 69 — 575
Current portion of long-term debt 3 66 3 — 72
Intercompany payable 1,441 1,398 — (2,839) —
Intercompany note payable — 500 — (500) —
Total current liabilities 1,955 3,073 3,314 (3,383) 4,959
Long-Term Liabilities 227 693 56 (618) 358
Long-Term Debt 417 80 31 — 528
Shareholders’ Equity 4,825 1,094 2,968 (4,438) 4,449
Total Liabilities and Shareholders’ Equity $7,424 $4,940 $6,369 $(8,439) $10,294
85