Best Buy 2013 Annual Report Download - page 90

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90
The following table summarizes our restructuring accrual activity during fiscal 2013 (11-month) and 2012 related to
termination benefits and facility closure and other costs associated with our fiscal 2011 restructuring activities ($ in millions):
Termination
Benefits
Facility
Closure and
Other Costs(1) Total
Balance at February 26, 2011 $ 28 $ 13 $ 41
Charges 11 6 17
Cash payments (33)(14)(47)
Adjustments (3) 4 1
Balance at March 3, 2012 3 9 12
Charges — — —
Cash payments (2)(8)(10)
Adjustments (1)(1)(2)
Changes in foreign currency exchange rates — — —
Balance at February 2, 2013 $ — $ — $ —
(1) Included within the facility closure and other costs adjustments is $10 million from the first quarter of fiscal 2012, representing an adjustment to exclude
non-cash charges or benefits, which had no impact on our Consolidated Statements of Earnings in fiscal 2012.
8. Debt
Short-Term Debt
Short-term debt consisted of the following ($ in millions):
February 2, 2013 March 3, 2012
Principal
Balance Interest
Rate Principal
Balance Interest
Rate
U.S. revolving credit facility – 364-day $ — —% $ — —%
U.S. revolving credit facility – 5-year — —% — —%
Europe revolving credit facility 596 2.0% 480 2.4%
Canada revolving demand facility — —% — —%
China revolving demand facilities — —% — —%
Total short-term debt $ 596 $ 480
11-Month 12-Month
Fiscal Year 2013 2012
Maximum month-end amount outstanding during the year $ 596 $ 480
Average amount outstanding during the year $ 477 $ 337
Weighted-average interest rate at year-end 2.0% 2.4%
U.S. Revolving Credit Facilities
On August 31, 2012, Best Buy Co., Inc. entered into a $1.0 billion 364-day senior unsecured revolving credit facility agreement
(the "364-Day Facility Agreement") with JPMorgan Chase Bank, N.A. ("JPMorgan"), as administrative agent, and a syndicate
of banks. The 364-Day Facility Agreement replaced the previously existing $1.0 billion 364-day senior unsecured revolving
credit facility with a syndicate of banks, including JPMorgan acting as administrative agent, which was originally scheduled to
expire in October 2012. In October 2011, Best Buy Co., Inc. entered into a $1.5 billion five-year unsecured revolving credit
facility agreement (the "Five-Year Facility Agreement and, collectively with the 364-Day Facility Agreement, the
"Agreements") with JPMorgan, as administrative agent, and a syndicate of banks. At February 2, 2013, there were no
borrowings outstanding and $2.5 billion was available under the Agreements.
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