Best Buy 2011 Annual Report Download - page 123

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$ in millions, except per share amounts or as otherwise noted
Condensed Consolidating Statements of Earnings
Fiscal Year Ended February 26, 2011
Best Buy Guarantor Non-Guarantor
Co., Inc. Subsidiary Subsidiaries Eliminations Consolidated
Revenue $ 16 $33,924 $45,843 $(29,511) $50,272
Cost of goods sold — 25,140 39,022 (26,551) 37,611
Restructuring charges — cost of goods sold — 9 15 — 24
Gross profit 16 8,775 6,806 (2,960) 12,637
Selling, general and administrative expenses 169 8,439 4,895 (3,178) 10,325
Restructuring charges — 9 189 — 198
Operating (loss) income (153) 327 1,722 218 2,114
Other income (expense)
Investment income and other 20 — 43 (12) 51
Interest expense (47) (15) (37) 12 (87)
Equity in earnings of subsidiaries 1,189 49 194 (1,432) —
Earnings before income tax (benefit) expense
and equity in income of affiliates 1,009 361 1,922 (1,214) 2,078
Income tax (benefit) expense (50) 118 646 — 714
Equity in income of affiliates — — 2 — 2
Net earnings including noncontrolling interests 1,059 243 1,278 (1,214) 1,366
Net earnings attributable to noncontrolling
interests — — (89) — (89)
Net earnings attributable to Best Buy Co., Inc. $1,059 $ 243 $ 1,189 $ (1,214) $ 1,277
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