Best Buy 2012 Annual Report Download - page 85

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$ in millions, except per share amounts or as otherwise noted
85
Assets and Liabilities that are Measured at Fair Value on a Recurring Basis
The fair value hierarchy requires the use of observable market data when available. In instances in which the inputs used to
measure fair value fall into different levels of the fair value hierarchy, the fair value measurement has been determined based on
the lowest level input that is significant to the fair value measurement in its entirety. Our assessment of the significance of a
particular item to the fair value measurement in its entirety requires judgment, including the consideration of inputs specific to
the asset or liability. The following tables set forth by level within the fair value hierarchy, our financial assets and liabilities
that were accounted for at fair value on a recurring basis at March 3, 2012, and February 26, 2011, according to the valuation
techniques we used to determine their fair values.
Fair Value Measurements Using Inputs
Considered as
Fair Value at
March 3, 2012
Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Assets
Cash and cash equivalents
Money market funds $ 272 $ 272 $ — $ —
Other current assets
Money market funds (restricted assets) 119 119 — —
U.S. Treasury bills (restricted assets) 30 30 — —
Foreign currency derivative instruments 1 — 1 —
Equity and other investments
Auction rate securities 82 — — 82
Marketable equity securities 3 3 — —
Other assets
Marketable securities that fund deferred compensation 83 83 — —
Liabilities
Accrued liabilities
Foreign currency derivative instruments 2 — 2 —
Long-term liabilities
Deferred compensation 62 62 — —