Best Buy 2009 Annual Report Download - page 36

Download and view the complete annual report

Please find page 36 of the 2009 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 100

  • 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

the overall EVA objective described above. For fiscal 2009, the enterprise and domestic comparable store sales and
enterprise SG&A rate ranges, and corresponding Team Performance scores were as follows:
Enterprise Comparable Store Domestic Comparable Store Team Performance
Sales Growth Rate Sales Growth Rate Enterprise SG&A Rate Score
5.0% or greater 3.9% or greater 18.6% or lower 1.25
4.0% - 4.9% 3.2% - 3.8% 18.7% - 18.8% 1.12
3.0% - 3.9% 2.5% - 3.1% 18.9% - 19.0% 1.00
2.0% - 2.9% 1.7% - 2.4% 19.1% - 19.2% 0.90
1.0% - 1.9% 0.9% - 1.6% 19.3% - 19.4% 0.80
Less than 1.0% Less than 0.9% More than 19.4% 0.70
For fiscal 2009, our enterprise comparable store sales Based on the results above, the Team Performance score
rate was (1.3%), our domestic comparable store sales for Ms. Ballard and Mr. Morrish was computed as
rate was (1.3%) and our adjusted enterprise SG&A rate follows:
was 19.4%. Performance Metric Result Score
Based on these results, the Team Performance score for Domestic Comparable Store Sales
Messrs. Anderson, Muehlbauer, Dunn and Willett was Growth Rate (1.3)% 0.70
computed as follows: Adjusted Enterprise SG&A Rate 19.4% 0.80
Team Performance Score(1) 0.75
Performance Metric Result Score
Enterprise Comparable Store Sales (1) The Team Performance score was computed as the
average of the scores for both metrics.
Growth Rate (1.3)% 0.70
Adjusted Enterprise SG&A Rate 19.4% 0.80
Team Performance Score(1) 0.75
(1) The Team Performance score was computed as the
average of the scores for both metrics.
To determine the Incentive Multiplier, the Company Performance and Team Performance scores are multiplied. Based
on the actual Company Performance and Team Performance scores, the Incentive Multiplier for fiscal 2009 was 0.00.
Accordingly, no payments pursuant to the Executive Officer STIP were made to any named executive officer for fiscal
2009. The fiscal 2009 short-term incentive payment computation, as determined based on the formulas described
above, was as follows:
Incentive
Target Incentive Incentive Incentive
Base Salary X Percentage = Target X Multiplier = Payout
Mr. Anderson $1,265,000 200% $2,530,000 0.00 $0.00
Mr. Muehlbauer 600,000 125 750,000 0.00 0.00
Mr. Dunn 900,000 150 1,350,000 0.00 0.00
Mr. Willett 850,000 125 1,062,500 0.00 0.00
Ms. Ballard 650,000 125 812,500 0.00 0.00
Mr. Morrish 478,950 65 311,318 0.00 0.00
36