pT 2- Excel

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INCOME STATEMENT

Best Buy Co., Inc. 
Consolidated Statements of Earnings
$ and shares in millions, except per share amounts
BBY
Retail industry
Products: Consumer electronics and appliances
Competitors: WalMart, Target, Costco, Amazon, Sears and Staples
Fiscal Years Ended 1-Feb-20 2-Feb-19 3-Feb-18
Revenue $ 43,638  $ 42,879  $ 42,151 
Cost of sales 33,590  32,918  32,275 
Gross profit $ 10,048.0 $ 9,961 $ 9,876.00
Selling, general and administrative expenses 7,998  8,015  8,023 
Restructuring charges 41  46  10 
Operating income $ 2,009 $ 1,900 1843
Other income (expense):
Gain on sale of investments 1  12  1 
Investment income and other 47  49  48 
Interest expense -64 -73 -75
Earnings from continuing operations before income tax expense $ 1,993 $ 1,888 $ 1,817
Income tax expense 452  424  818 
Net earnings from continuing operations $ 1,541 $ 1,464 $ 999
Gain from discontinued operations, net of $0 tax expense - - 1 
Net earnings $ $ 1,541 $ $ 1,464 $ $ 1,000

BALANCE SHEET

Best Buy Co., Inc. 
Consolidated Balance Sheets
$ in millions, except per share and share amounts
BBY
Retail industry
Products: Consumer electronics and appliances
Competitors: WalMart, Target, Costco, Amazon, Sears and Staples
1-Feb-20 2-Feb-19
Assets
Current assets
Cash and cash equivalents $ 2,229  $ 1,980 
Receivables, net 1,149  1,015 
Merchandise inventories 5,174  5,409 
Other current assets 305  466 
Total current assets $ 8,857 $ 8,870
Property and equipment
Land and buildings 650  637 
Leasehold improvements 2,203  2,119 
Fixtures and equipment 6,286  5,865 
Property under capital and financing leases - 579 
Property under finance leases 89  -
Gross property and equipment $ 9,228 $ 9,200
Less accumulated depreciation 6,900  6,690 
Net property and equipment $ 2,328 $ 2,510
Operating lease assets 2,709  -
Goodwill 984  915 
Other assets 713  606 
Total assets $ 15591 $ 12901
Liabilities and equity
Current liabilities
Accounts payable $ 5,288  $ 5,257 
Unredeemed gift card liabilities 281  290 
Deferred revenue 501  446 
Accrued compensation and related expenses 410  482 
Accrued liabilities 906  982 
Current portion of operating lease liabilities 660  -
Current portion of long-term debt 14  56 
Total current liabilities 8060 7513
Long-term operating lease liabilities 2,138  -
Long-term liabilities 657  750 
Long-term debt 1,257  1,332 
Contingencies and commitments (Note 13)
Equity
Best Buy Co., Inc. Shareholders' Equity
Preferred stock, $1.00 par value: Authorized 400,000 shares; Issued and outstanding none - -
Common stock, $0.10 par value: Authorized 1.0 billion shares; Issued and outstanding 256,494,000 and 265,703,000 shares, respectively 26  27 
Additional paid-in capital - -
Retained earnings 3,158  2,985 
Accumulated other comprehensive income 295  294 
Total equity 3479 3306
Total liabilities and equity $ 15591 $ 12901

CASH FLOW

Best Buy Co., Inc. 
Consolidated Statements of Cash Flows
$ in millions
BBY
Retail industry
Products: Consumer electronics and appliances
Competitors: WalMart, Target, Costco, Amazon, Sears and Staples
Fiscal Years Ended 1-Feb-20 2-Feb-19 3-Feb-18
Operating activities
Net earnings $ 1,541  $ 1,464  $ 1,000 
Adjustments to reconcile net earnings to total cash provided by operating activities:
Depreciation and amortization 812  770  683 
Restructuring charges 41  46  10 
Stock-based compensation 143  123  129 
Deferred income taxes 70  10  162 
Other, net 21  -25 -13
Changes in operating assets and liabilities, net of acquired assets and liabilities:
Receivables -131 28  315 
Merchandise inventories 237  -194 -335
Other assets 16  -34 -21
Accounts payable 47  432  -196
Income taxes -132 22  290 
Other liabilities -100 -234 117 
Total cash provided by operating activities 2565 2408 2,141 
Investing activities
Additions to property and equipment, net of $10, $53 and $123, respectively, of non-cash capital expenditures -743 -819 -688
Purchases of investments -330 - -4,325
Sales of investments 322  2,098  4,018 
Acquisitions, net of cash acquired -145 -787 -
Other, net 1  16  -7
Total cash provided by (used in) investing activities -895 508 -1,002
Financing activities
Repurchase of common stock -1,003 -1,505 -2,004
Issuance of common stock 48  38  163 
Dividends paid -527 -497 -409
Borrowings of debt - 498  -
Repayments of debt -15 -546 -46
Other, net -1 -6 -1
Total cash used in financing activities -1,498 -2,018 -2,297
Effect of exchange rate changes on cash -1 -14 25 
Increase (decrease) in cash, cash equivalents and restricted cash 171  884  -1,133
Cash, cash equivalents and restricted cash at beginning of period 2,184  1,300  2,433 
Cash, cash equivalents and restricted cash at end of period $ 2355 $ 2184 $ 1300
References
Best Buy Co., Inc. (2020). Best Buy Co., Inc. (BBY). Yahoo Finance - Stock Market Live, Quotes, Business & Finance News. https://finance.yahoo.com/quote/BBY/cash-flow?p=BBY
UNITED STATES SECURITIES AND EXCHANGE COMMISSION. (2020, February 1). Inline XBRL viewer. SEC.gov. https://www.sec.gov/ix?doc=/Archives/edgar/data/764478/000076447820000017/bby-20200201x10k.htm
https://finance.yahoo.com/quote/BBY/cash-flow?p=BBY https://www.sec.gov/ix?doc=/Archives/edgar/data/764478/000076447820000017/bby-20200201x10k.htm