BEST BUY CO INC, 10-K filed on 3/28/2014
Annual Report
Document and Entity Information (USD $)
In Billions, except Share data, unless otherwise specified
12 Months Ended
Feb. 1, 2014
Mar. 24, 2014
Aug. 3, 2013
Document and Entity Information [Abstract}
 
 
 
Entity Registrant Name
BEST BUY CO INC 
 
 
Current Fiscal Year End Date
--02-01 
 
 
Entity Voluntary Filers
No 
 
 
Document Fiscal Year Focus
2014 
 
 
Amendment Flag
false 
 
 
Entity Current Reporting Status
Yes 
 
 
Entity Well-known Seasoned Issuer
Yes 
 
 
Entity Common Stock, Shares Outstanding
 
347,043,619 
 
Entity Public Float
 
 
$ 6.5 
Document Fiscal Period Focus
FY 
 
 
Document Type
10-K 
 
 
Entity Central Index Key
0000764478 
 
 
Document Period End Date
Feb. 01, 2014 
 
 
Entity Filer Category
Large Accelerated Filer 
 
 
CONSOLIDATED BALANCE SHEETS (USD $)
In Millions, unless otherwise specified
Feb. 1, 2014
Feb. 2, 2013
CURRENT ASSETS
 
 
Cash and cash equivalents
$ 2,678 
$ 1,826 
Short-term investments
223 
0 
Receivables, net
1,308 
2,704 
Merchandise inventories
5,376 
6,571 
Other current assets
900 
946 
Total current assets
10,485 
12,047 
Property and Equipment
 
 
Land and buildings
758 
756 
Leasehold improvements
2,182 
2,386 
Fixtures and equipment
4,515 
5,120 
Property under capital lease
120 
113 
Property and equipment, gross
7,575 
8,375 
Less accumulated depreciation
4,977 
5,105 
Net property and equipment
2,598 
3,270 
Goodwill
425 
528 
Intangibles, Net
101 
334 
Other Assets
404 
608 
Total Assets
14,013 
16,787 
CURRENT LIABILITIES
 
 
Accounts payable
5,122 
6,951 
Unredeemed gift card liabilities
406 
428 
Deferred revenue
399 
451 
Accrued compensation and related expenses
444 
520 
Accrued liabilities
873 
1,188 
Accrued income taxes
147 
129 
Short-term debt
0 
596 
Current portion of long-term debt
45 
547 1
Total current liabilities
7,436 
10,810 
Long-Term Liabilities
976 
1,109 
Long-Term Debt
1,612 
1,153 
Contingencies and Commitments (Note 13)
   
   
Best Buy Co., Inc. Shareholders’ Equity
 
 
Preferred stock, $1.00 par value: Authorized — 400,000 shares; Issued and outstanding — none
0 
0 
Common stock, $0.10 par value: Authorized — 1.0 billion shares; Issued and outstanding — 346,751,000 and 338,276,000 shares, respectively
35 
34 
Additional paid-in capital
300 
54 
Retained earnings
3,159 
2,861 
Accumulated other comprehensive income
492 
112 
Total Best Buy Co., Inc. shareholders' equity
3,986 
3,061 
Noncontrolling interests
3 
654 
Total equity
3,989 
3,715 
Total Liabilities and Equity
$ 14,013 
$ 16,787 
CONSOLIDATED BALANCE SHEETS (PARENTHETICAL) (USD $)
Feb. 1, 2014
Feb. 2, 2013
Preferred stock, par value (in dollars per share)
$ 1.00 
$ 1.00 
Preferred stock, Authorized shares
400,000 
400,000 
Preferred stock, Issued shares
0 
0 
Preferred stock, outstanding shares
0 
0 
Common stock, par value (in dollars per share)
$ 0.10 
$ 0.10 
Common stock, Authorized shares
1,000,000,000 
1,000,000,000 
Common stock, Issued shares
346,751,000 
338,276,000 
Common stock, outstanding shares
346,751,000 
338,276,000 
CONSOLIDATED STATEMENTS OF EARNINGS (USD $)
In Millions, except Per Share data, unless otherwise specified
11 Months Ended 12 Months Ended
Feb. 2, 2013
Jan. 28, 2012
Feb. 1, 2014
Mar. 3, 2012
Revenue
$ 39,827 1
$ 41,311 
$ 42,410 
$ 45,457 
Cost of goods sold
30,528 
31,384 
32,720 
34,454 
Restructuring charges — cost of goods sold
1 
19 
0 
19 
Gross profit
9,298 1
9,908 
9,690 
10,984 
Selling, general and administrative expenses
8,181 
7,986 
8,391 
8,755 
Restructuring charges
414 
24 
159 
29 
Goodwill impairments
822 
0 
0 
0 
Operating income (loss)
(119)1 2
1,898 
1,140 3
2,200 
Other income (expense)
 
 
 
 
Gain on sale of investments
0 
55 
20 
55 
Investment income and other
20 
23 
27 
22 
Interest expense
(99)
(101)
(100)
(111)
Earnings (loss) from continuing operations before income tax expense and equity in income (loss) of affiliates
(198)
1,875 
1,087 
2,166 
Income tax expense
269 
658 
398 
742 
Net earnings (loss) from continuing operations
(467)1 4
1,217 
689 
1,424 
Gain (loss) from discontinued operations (Note 4), net of tax of $42, $37, $119 and $122
47 1
(1,394)
(166)
(1,402)
Net earnings (loss) including noncontrolling interests
(420)1
(177)
523 
22 
Net earnings from continuing operations attributable to noncontrolling interests
(2)4
(3)
(2)
(3)
Net (earnings) loss from discontinued operations attributable to noncontrolling interests
(19)
(1,245)
11 
(1,250)
Net earnings (loss) attributable to Best Buy Co., Inc. shareholders
$ (441)1
$ (1,425)
$ 532 
$ (1,231)
Basic earnings (loss) per share attributable to Best Buy Co., Inc. shareholders
 
 
 
 
Continuing operations
$ (1.38)4
$ 3.26 
$ 2.01 
$ 3.88 
Discontinued operations
$ 0.08 
$ (7.09)
$ (0.45)
$ (7.24)
Basic earnings (loss) per share
$ (1.30)
$ (3.83)
$ 1.56 
$ (3.36)
Diluted earnings (loss) per share attributable to Best Buy Co., Inc. shareholders
 
 
 
 
Continuing operations
$ (1.38)1 4
$ 3.19 
$ 1.98 
$ 3.81 
Discontinued operations
$ 0.08 1 5
$ (6.91)
$ (0.45)5
$ (7.08)
Diluted earnings (loss) per share
$ (1.30)1
$ (3.72)
$ 1.53 
$ (3.27)
Weighted-average common shares outstanding (in millions)
 
 
 
 
Basic
338.6 4
372.5 
342.1 
366.3 
Diluted
338.6 4
382.0 
347.6 
374.5 
CONSOLIDATED STATEMENTS OF EARNINGS (PARENTHETICAL) (USD $)
In Millions, unless otherwise specified
11 Months Ended 12 Months Ended
Feb. 2, 2013
Jan. 28, 2012
Feb. 1, 2014
Mar. 3, 2012
Tax effect of discontinued operations
$ (37)
$ (119)
$ (42)
$ (122)
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Millions, unless otherwise specified
11 Months Ended 12 Months Ended
Feb. 2, 2013
Jan. 28, 2012
Feb. 1, 2014
Mar. 3, 2012
OPERATING ACTIVITIES
 
 
 
 
Net earnings (loss) including noncontrolling interests
$ (420)1
$ (177)
$ 523 
$ 22 
Adjustments to reconcile net earnings (loss) to total cash provided by operating activities
 
 
 
 
Depreciation
794 
811 
701 
897 
Amortization of definite-lived intangible assets
38 
42 
15 
48 
Restructuring charges
449 
280 
259 
287 
Goodwill impairments
822 
1,207 
0 
1,207 
Loss on sale of business
0 
0 
143 
0 
Stock-based compensation
107 
110 
90 
120 
Realized gain on sale of investment
0 
(55)
0 
(55)
Deferred income taxes
(19)
110 
(28)
28 
Other, net
41 
20 
62 
26 
Changes in operating assets and liabilities, net of assets and liabilities acquired or sold:
 
 
 
 
Receivables
(551)
(342)
7 
41 
Merchandise inventories
(912)
(1,067)
597 
120 
Other assets
(65)
29 
(70)
(24)
Accounts payable
1,735 
2,095 
(986)
574 
Other liabilities
(339)
82 
(273)
(23)
Income taxes
(226)
(48)
54 
25 
Total cash provided by operating activities
1,454 
3,097 
1,094 
3,293 
INVESTING ACTIVITIES
 
 
 
 
Additions to property and equipment, net of $13, $29, $13 and $18 non-cash capital expenditures
(705)
(709)
(547)
(766)
Purchases of investments
(13)
(111)
(230)
(112)
Sales of investments
69 
290 
50 
290 
Acquisition of businesses, net of cash acquired
(31)
(174)
0 
(174)
Proceeds from sale of business, net of cash transferred
25 
1 
206 
0 
Change in restricted assets
101 
58 
5 
40 
Other, net
16 
(2)
(1)
(2)
Total cash used in investing activities
(538)
(647)
(517)
(724)
FINANCING ACTIVITIES
 
 
 
 
Repurchase of common stock
(122)
(1,368)
0 
(1,500)
Issuance of common stock under employee stock purchase plan and for the exercise of stock options
25 
66 
171 
67 
Dividends paid
(224)
(228)
(233)
(228)
Repayments of debt
(1,614)
(3,192)
(2,033)
(3,412)
Proceeds from issuance of debt
1,741 
3,911 
2,414 
3,921 
Payment to noncontrolling interest (Note 3)
0 
(1,303)
0 
(1,303)
Other, net
(17)
(27)
0 
(23)
Total cash provided by (used in) financing activities
(211)
(2,141)
319 
(2,478)
Effect of Exchange Rate Changes on Cash
(4)
(6)
(44)
5 
Increase in Cash and Cash Equivalents
701 
303 
852 
96 
Adjustment for Fiscal Year-end Change (Note 2)
(74)
(5)
0 
0 
Increase in Cash and Cash Equivalents After Adjustment
627 
298 
852 
96 
Cash and Cash Equivalents at Beginning of Year
1,199 
1,103 
1,826 
1,103 
Cash and Cash Equivalents at End of Year
1,826 
1,401 
2,678 
1,199 
Supplemental Disclosure of Cash Flow Information
 
 
 
 
Income taxes paid
478 
476 
332 
568 
Interest paid
$ 106 
$ 86 
$ 82 
$ 89 
CONSOLIDATED STATEMENTS OF CASH FLOWS (PARENTHETICAL) (USD $)
In Millions, unless otherwise specified
11 Months Ended 12 Months Ended
Feb. 2, 2013
Jan. 28, 2012
Feb. 1, 2014
Mar. 3, 2012
Statement of Cash Flows [Abstract]
 
 
 
 
Non-cash capital expenditures
$ 29 
$ 13 
$ 13 
$ 18 
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (USD $)
In Millions, except Share data, unless otherwise specified
Total
Parent [Member]
Common Stock
Additional Paid-In Capital
Retained Earnings
Accumulated Other Comprehensive Income (Loss)
Noncontrolling Interest [Member]
Beginning balances at Feb. 26, 2011
$ 7,292 
$ 6,602 
$ 39 
$ 18 
$ 6,372 
$ 173 
$ 690 
Beginning balances (in shares) at Feb. 26, 2011
 
 
393,000,000 
 
 
 
 
Increase (decrease) in shareholders' equity
 
 
 
 
 
 
 
Net earnings (loss)
22 
(1,231)
0 
0 
(1,231)
0 
1,253 
Foreign currency translation adjustments
(21)
 
 
 
 
 
 
Other comprehensive income (loss), net of tax
 
 
 
 
 
 
 
Foreign currency translation adjustments
(21)
(9)
0 
0 
0 
(9)
(12)
Unrealized gain (loss) on available-for-sale investments
(26)
(26)
0 
0 
0 
(26)
0 
Reclassification of foreign currency translations adjustments into earnings due to sale of business
0 
 
 
 
 
 
 
Reclassification of gains (losses) on available-for-sale investments into earnings
(48)
(48)
0 
0 
0 
(48)
0 
Payment to noncontrolling interest
(1,303)
0 
0 
0 
0 
0 
(1,303)
Dividend distribution
(7)
0 
0 
0 
0 
0 
(7)
Stock options exercised
27 
27 
0 
27 
0 
0 
0 
Stock options exercised (in shares)
 
 
1,000,000 
 
 
 
 
Tax benefit (loss) from stock options canceled or excercised, restricted stock vesting and employee stock purchase plan
(2)
(2)
0 
(2)
0 
0 
0 
Issuance of common stock under employee stock purchase plan
40 
40 
0 
40 
0 
0 
0 
Issuance of common stock under employee stock purchase plan (in shares)
 
 
2,000,000 
 
 
 
 
Stock-based compensation
120 
120 
0 
120 
0 
0 
0 
Common stock dividends, $0.68 per share during the period ended February 1, 2014, $0.66 per share during the period ended February 2, 2013, $0.62 per share during the period ended March 3, 2012, respectively
(228)
(228)
0 
0 
(228)
0 
0 
Repurchase of common stock
(1,500)
(1,500)
(5)
(203)
(1,292)
0 
0 
Repurchase of common stock (in shares)
 
 
(55,000,000)
 
 
 
 
Ending balances at Mar. 03, 2012
4,366 
3,745 
34 
0 
3,621 
90 
621 
Ending balances (in shares) at Mar. 03, 2012
 
 
341,000,000 
 
 
 
 
Beginning balances at Jan. 28, 2012
 
 
 
 
 
 
 
Other comprehensive income (loss), net of tax
 
 
 
 
 
 
 
Foreign currency translation adjustments
 
9 
 
 
 
 
 
Unrealized gain (loss) on available-for-sale investments
 
2 
 
 
 
 
 
Ending balances at Feb. 02, 2013
 
3,061 
 
 
 
 
 
Beginning balances at Mar. 03, 2012
4,366 
3,745 
34 
0 
3,621 
90 
621 
Beginning balances (in shares) at Mar. 03, 2012
 
 
341,000,000 
 
 
 
 
Increase (decrease) in shareholders' equity
 
 
 
 
 
 
 
Net earnings (loss)
(420)1
(441)
0 
0 
(441)
0 
21 
Foreign currency translation adjustments
15 
 
 
 
 
 
 
Adjustment for fiscal year-end change (Note 2)
6 
(3)
0 
0 
(14)
11 
9 
Other comprehensive income (loss), net of tax
 
 
 
 
 
 
 
Foreign currency translation adjustments
15 
9 
0 
0 
0 
9 
6 
Unrealized gain (loss) on available-for-sale investments
2 
2 
0 
0 
0 
2 
0 
Reclassification of foreign currency translations adjustments into earnings due to sale of business
0 
 
 
 
 
 
 
Payment to noncontrolling interest
0 
 
 
 
 
 
 
Dividend distribution
(3)
0 
0 
0 
0 
0 
(3)
Stock options exercised
1 
1 
0 
1 
0 
0 
0 
Stock options exercised (in shares)
 
 
2,000,000 
 
 
 
 
Tax benefit (loss) from stock options canceled or excercised, restricted stock vesting and employee stock purchase plan
(44)
(44)
0 
(44)
0 
0 
0 
Issuance of common stock under employee stock purchase plan
24 
24 
0 
24 
0 
0 
0 
Issuance of common stock under employee stock purchase plan (in shares)
 
 
1,000,000 
 
 
 
 
Stock-based compensation
112 
112 
0 
112 
0 
0 
0 
Common stock dividends, $0.68 per share during the period ended February 1, 2014, $0.66 per share during the period ended February 2, 2013, $0.62 per share during the period ended March 3, 2012, respectively
(222)
(222)
0 
0 
(222)
0 
0 
Repurchase of common stock
(122)
(122)
0 
(39)
(83)
0 
0 
Repurchase of common stock (in shares)
 
 
(6,000,000)
 
 
 
 
Ending balances at Feb. 02, 2013
3,715 
3,061 
34 
54 
2,861 
112 
654 
Ending balances (in shares) at Feb. 02, 2013
 
 
338,000,000 
 
 
 
 
Increase (decrease) in shareholders' equity
 
 
 
 
 
 
 
Net earnings (loss)
523 
532 
0 
0 
532 
0 
(9)
Foreign currency translation adjustments
(147)
(136)
0 
0 
0 
(136)
(11)
Other comprehensive income (loss), net of tax
 
 
 
 
 
 
 
Foreign currency translation adjustments
 
(136)
 
 
 
 
 
Unrealized gain (loss) on available-for-sale investments
6 
7 
0 
0 
0 
7 
(1)
Reclassification of foreign currency translations adjustments into earnings due to sale of business
654 
508 
0 
0 
0 
508 
146 
Reclassification of gains (losses) on available-for-sale investments into earnings
2 
1 
0 
0 
0 
1 
1 
Sale of noncontrolling interest
(776)
0 
0 
0 
0 
0 
(776)
Payment to noncontrolling interest
0 
 
 
 
 
 
 
Dividend distribution
(1)
0 
0 
0 
0 
0 
(1)
Stock options exercised
159 
159 
1 
158 
0 
0 
0 
Stock options exercised (in shares)
5,169,000 
 
8,000,000 
 
 
 
 
Tax benefit (loss) from stock options canceled or excercised, restricted stock vesting and employee stock purchase plan
(22)
(22)
0 
(22)
0 
0 
0 
Issuance of common stock under employee stock purchase plan
13 
13 
0 
13 
0 
0 
0 
Issuance of common stock under employee stock purchase plan (in shares)
 
 
1,000,000 
 
 
 
 
Stock-based compensation
97 
97 
0 
97 
0 
0 
0 
Common stock dividends, $0.68 per share during the period ended February 1, 2014, $0.66 per share during the period ended February 2, 2013, $0.62 per share during the period ended March 3, 2012, respectively
(234)
(234)
0 
0 
(234)
0 
0 
Ending balances at Feb. 01, 2014
$ 3,989 
$ 3,986 
$ 35 
$ 300 
$ 3,159 
$ 492 
$ 3 
Ending balances (in shares) at Feb. 01, 2014
 
 
347,000,000 
 
 
 
 
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (PARENTHETICAL)
11 Months Ended 12 Months Ended
Feb. 2, 2013
Feb. 1, 2014
Mar. 3, 2012
Statement of Stockholders' Equity [Abstract]
 
 
 
Dividends declared per common share (in dollars per share)
$ 0.66 
$ 0.68 
$ 0.62 
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME Statement (USD $)
In Millions, unless otherwise specified
11 Months Ended 12 Months Ended
Feb. 2, 2013
Feb. 1, 2014
Mar. 3, 2012
Net earnings (loss) including noncontrolling interests
$ (420)1
$ 523 
$ 22 
Foreign currency translation adjustments
15 
(147)
(21)
Unrealized gain (loss) on available-for-sale investments
2 
6 
(26)
Reclassification of foreign currency translations adjustments into earnings due to sale of business
0 
654 
0 
Reclassification of (gains) losses on available-for-sale investments into earnings
0 
2 
(48)
Comprehensive income (loss) including noncontrolling interests
(403)
1,038 
(73)
Comprehensive income attributable to noncontrolling interests
(27)
(126)
(1,241)
Comprehensive income (loss) attributable to Best Buy Co., Inc. shareholders
$ (430)
$ 912 
$ (1,314)
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies

Unless the context otherwise requires, the use of the terms "Best Buy", "we," "us" and "our" in these Notes to Consolidated Financial Statements refers to Best Buy Co., Inc. and, as applicable, its consolidated subsidiaries.

Discontinued Operations

On June 26, 2013, we sold our 50% ownership interest in Best Buy Europe Distributions Limited (“Best Buy Europe”) to Carphone Warehouse Group plc ("CPW"). On February 1, 2014, we sold mindSHIFT Technologies, Inc. ("mindSHIFT") to Ricoh Americas Holdings, Inc. ("Ricoh"). The results of Best Buy Europe and mindSHIFT for all periods have been presented as discontinued operations. See Note 4, Discontinued Operations, for further information.

Description of Business

We are a multi-national, multi-channel retailer of technology products, including mobile phones, tablets and computers, large and small appliances, televisions, digital imaging, entertainment products and related accessories. We also offer technology services – including technical support, repair and installation – under the Geek Squad brand. We have two operating segments: Domestic and International. The Domestic segment is comprised of store, online and call center operations in all states, districts and territories of the U.S., operating under the brand names Best Buy, Best Buy Mobile, Geek Squad, Magnolia Audio Video and Pacific Sales. The International segment is comprised of: (i) all Canada store, online and call center operations, operating under the brand names Best Buy, Best Buy Mobile, Cell Shop, Connect Pro, Future Shop and Geek Squad, (ii) all China store and call center operations, operating under the brand names Five Star and Best Buy Mobile, and (iii) all Mexico store operations operating under the brand names Best Buy, Best Buy Express and Geek Squad.

In addition to our retail store operations, we also operate websites including BestBuy.com, BestBuy.ca and FutureShop.ca.

Fiscal Year

On November 2, 2011, our Board of Directors approved a change in our fiscal year-end from the Saturday nearest the end of February to the Saturday nearest the end of January, effective beginning with our fiscal year 2013. As a result of this change, our fiscal year 2013 was an 11-month transition period beginning March 4, 2012, through February 2, 2013. Concurrent with the change, we began consolidating the results of our Europe, China and Mexico operations on a one-month lag, compared to a two-month lag in prior years, to continue aligning the fiscal reporting periods of our international operations with statutory filing requirements. In these consolidated statements, including the notes thereto, financial results for fiscal 2013 are for an 11-month period. Corresponding results for fiscal 2014 and fiscal 2012 are both for 12-month periods. In addition, our Consolidated Statements of Earnings and Consolidated Statements of Cash Flows also include an unaudited 11-month fiscal 2012 (recast). Fiscal 2014 included 52 weeks, fiscal 2013 (11-month) included 48 weeks and fiscal 2012 included 53 weeks.

Basis of Presentation

The consolidated financial statements include the accounts of Best Buy Co., Inc. and its consolidated subsidiaries. All intercompany balances and transactions are eliminated upon consolidation.

In order to align our fiscal reporting periods and comply with statutory filing requirements, we consolidate the financial results of our Europe, China and Mexico operations on a lag. Due to our fiscal year-end change, this was a one-month lag in fiscal 2014 and 2013 (11-month) and a two-month lag in fiscal 2012. Our policy is to accelerate recording the effect of events occurring in the lag period that significantly affect our consolidated financial statements. In fiscal 2012, we recorded $82 million of restructuring charges recorded in January 2012 related to our large-format Best Buy branded store closures in the United Kingdom ("U.K.") as well as a $1.2 billion goodwill impairment charge attributable to our Best Buy Europe reporting unit. Except for these restructuring activities and the goodwill impairment in fiscal 2012, no significant intervening event occurred in these operations that would have materially affected our financial condition, results of operations, liquidity or other factors had it been recorded during fiscal 2014 or 2013 (11-month). For further information about our restructuring and the nature of the charges we recorded, refer to Note 6, Restructuring Charges. For further information about the goodwill impairment, refer to Goodwill and Intangible Assets below, as well as Note 3, Profit Share Buy-Out.

In preparing the accompanying consolidated financial statements, we evaluated the period from February 2, 2014, through the date the financial statements were issued for material subsequent events requiring recognition or disclosure. No such events were identified for this period.

Use of Estimates in the Preparation of Financial Statements

The preparation of financial statements in conformity with accounting principles generally accepted in the U.S. ("GAAP") requires us to make estimates and assumptions. These estimates and assumptions affect the reported amounts in the consolidated financial statements, as well as the disclosure of contingent liabilities. Future results could be materially affected if actual results were to differ from these estimates and assumptions.

Cash and Cash Equivalents

Cash primarily consists of cash on hand and bank deposits. Cash equivalents consist of money market funds, treasury bills, commercial paper and time deposits such as certificates of deposit with an original maturity of 3 months or less when purchased. The amounts of cash equivalents at February 1, 2014, and February 2, 2013, were $1,705 million and $740 million, respectively, and the weighted-average interest rates were 0.5% and 0.3%, respectively.

Outstanding checks in excess of funds on deposit (book overdrafts) totaled $62 million and $97 million at February 1, 2014, and February 2, 2013, respectively, and are reflected within accounts payable in our Consolidated Balance Sheets.

Receivables

Receivables consist principally of amounts due from mobile phone network operators for commissions earned; banks for customer credit card, certain debit card and electronic benefits transfer (EBT) transactions; and vendors for various vendor funding programs.

We establish allowances for uncollectible receivables based on historical collection trends and write-off history. Our allowances for uncollectible receivables were $104 million and $92 million at February 1, 2014, and February 2, 2013, respectively.

Merchandise Inventories

Merchandise inventories are recorded at the lower of cost, using either the average cost or first-in first-out method, or market. In-bound freight-related costs from our vendors are included as part of the net cost of merchandise inventories. Also included in the cost of inventory are certain vendor allowances that are not a reimbursement of specific, incremental and identifiable costs to promote a vendor's products. Other costs associated with acquiring, storing and transporting merchandise inventories to our retail stores are expensed as incurred and included in cost of goods sold.

Our inventory valuation reflects adjustments for anticipated physical inventory losses (e.g., theft) that have occurred since the last physical inventory. Physical inventory counts are taken on a regular basis to ensure that the inventory reported in our consolidated financial statements is properly stated.

Our inventory valuation also reflects markdowns for the excess of the cost over the amount we expect to realize from the ultimate sale or other disposal of the inventory. Markdowns establish a new cost basis for our inventory. Subsequent changes in facts or circumstances do not result in the reversal of previously recorded markdowns or an increase in the newly established cost basis.

Restricted Assets

Restricted cash and investments in debt securities totaled $310 million and $366 million at February 1, 2014, and February 2, 2013, respectively, and are included in other current assets or other assets in our Consolidated Balance Sheets. Such balances are pledged as collateral or restricted to use for vendor payables, general liability insurance, workers' compensation insurance and insurance business regulatory reserve requirements.

Derivative Instruments

We use foreign currency forward contracts to manage the impact of fluctuations in foreign currency exchange rates relative to recognized receivable and payable balances denominated in non-functional currencies, and on certain forecast inventory purchases denominated in non-functional currencies. The contracts generally have terms of up to 12 months. These derivative instruments are not designated in hedging relationships and, therefore, we record gains and losses on these contracts directly to net earnings. At February 1, 2014, and February 2, 2013, the notional amount of these instruments was $157 million and $173 million, respectively. We recognized a gain of $5 million and $2 million in selling, general and administrative expenses ("SG&A") on our Consolidated Statements of Earnings during fiscal 2014 and 2013 (11-month), respectively, related to these instruments.
 
In conjunction with our agreement to sell our 50% ownership interest in Best Buy Europe as described in Note 4, Discontinued Operations, we entered into a deal-contingent foreign currency forward contract to hedge £455 million of the total £471 million of net proceeds. The contract was settled in cash following the completion of the sale on June 26, 2013, and we recognized a $2 million loss in gain (loss) from discontinued operations on our Consolidated Statements of Earnings in fiscal 2014.

Property and Equipment

Property and equipment are recorded at cost. We compute depreciation using the straight-line method over the estimated useful lives of the assets. Leasehold improvements are depreciated over the shorter of their estimated useful lives or the period from the date the assets are placed in service to the end of the lease term, which includes optional renewal periods if they are reasonably assured. Accelerated depreciation methods are generally used for income tax purposes.

When property is retired or otherwise disposed of, the cost and accumulated depreciation are removed from our Consolidated Balance Sheets and any resulting gain or loss is reflected in our Consolidated Statements of Earnings.

Repairs and maintenance costs are charged directly to expense as incurred. Major renewals or replacements that substantially extend the useful life of an asset are capitalized and depreciated.

Costs associated with the acquisition or development of software for internal use are capitalized and amortized over the expected useful life of the software, from three to seven years. A subsequent addition, modification or upgrade to internal-use software is capitalized to the extent that it enhances the software's functionality or extends its useful life. Capitalized software is included in fixtures and equipment. Software maintenance and training costs are expensed in the period incurred.

Property under capital lease is comprised of buildings and equipment used in our operations. The related depreciation for capital lease assets is included in depreciation expense. The carrying value of property under capital lease was $58 million and $70 million at February 1, 2014, and February 2, 2013, respectively, net of accumulated depreciation of $62 million and $43 million, respectively.

Estimated useful lives by major asset category are as follows:
Asset
 
Life
(in years)
Buildings
 
25-50
Leasehold improvements
 
3-25
Fixtures and equipment
 
3-20
Property under capital lease
 
2-20


Impairment of Long-Lived Assets and Costs Associated With Exit Activities

Long-lived assets are evaluated for impairment whenever events or changes in circumstances indicate the carrying value of an asset may not be recoverable. Factors considered important that could result in an impairment review include, but are not limited to, significant underperformance relative to historical or planned operating results, significant changes in the manner of use or expected life of the assets, or significant changes in our business strategies. An impairment loss is recognized when the estimated undiscounted cash flows expected to result from the use of the asset plus net proceeds expected from the disposition of the asset (if any) are less than the carrying value of the asset. When an impairment loss is recognized, the carrying amount of the asset is reduced to its estimated fair value based on quoted market prices or other valuation techniques (e.g., discounted cash flow analysis).

When reviewing long-lived assets for impairment, we group long-lived assets with other assets and liabilities at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. For example, long-lived assets deployed at store locations are reviewed for impairment at the individual store level, which involves comparing the carrying value of all land, buildings, leasehold improvements, fixtures and equipment located at each store to the net cash flow projections for each store. In addition, we conduct separate impairment reviews at other levels as appropriate, for example, to evaluate potential impairment of assets shared by several areas of operations, such as information technology systems.

The present value of costs associated with location closings, primarily future lease costs (net of expected sublease income), are charged to earnings when we have ceased using the specific location. We accelerate depreciation on property and equipment we expect to retire when a decision is made to abandon a location.

At February 1, 2014, and February 2, 2013, the obligation associated with location closings included in accrued liabilities in our Consolidated Balance Sheets was $33 million and $83 million, respectively, and the obligation associated with location closings included in long-term liabilities in our Consolidated Balance Sheets was $86 million and $149 million, respectively. The obligation associated with location closings at February 1, 2014, and February 2, 2013, included amounts associated with our restructuring activities as further described in Note 6, Restructuring Charges.

Leases

We conduct the majority of our retail and distribution operations from leased locations. The leases require payment of real estate taxes, insurance and common area maintenance, in addition to rent. The terms of our new lease agreements for large-format stores are generally less than 10 years, although we have existing leases with terms up to 20 years. Small-format stores generally have lease terms that are half the length of large-format stores. Most of the leases contain renewal options and escalation clauses, and certain store leases require contingent rents based on factors such as specified percentages of revenue or the consumer price index.

For leases that contain predetermined fixed escalations of the minimum rent, we recognize the related rent expense on a straight-line basis from the date we take possession of the property to the end of the initial lease term. We record any difference between the straight-line rent amounts and amounts payable under the leases as part of deferred rent, in accrued liabilities or long-term liabilities, as appropriate.

Cash or lease incentives received upon entering into certain store leases ("tenant allowances") are recognized on a straight-line basis as a reduction to rent from the date we take possession of the property through the end of the initial lease term. We record the unamortized portion of tenant allowances as a part of deferred rent, in accrued liabilities or long-term liabilities, as appropriate.

At February 1, 2014, and February 2, 2013, deferred rent included in accrued liabilities in our Consolidated Balance Sheets was $36 million and $50 million, respectively, and deferred rent included in long-term liabilities in our Consolidated Balance Sheets was $232 million and $289 million, respectively.

We also lease certain equipment under noncancelable operating and capital leases. In addition, we have financing leases for which the gross cost of constructing the asset is included in property and equipment, and amounts reimbursed from the landlord are recorded as financing obligations. Assets acquired under capital and financing leases are depreciated over the shorter of the useful life of the asset or the lease term, including renewal periods, if reasonably assured.

Goodwill and Intangible Assets

Goodwill

Goodwill is the excess of the purchase price over the fair value of identifiable net assets acquired in business combinations. We test goodwill for impairment annually, as of the first day of the fiscal fourth quarter, or when indications of potential impairment exist. We monitor the existence of potential impairment indicators throughout the fiscal year. We test for goodwill impairment at the reporting unit level. Our reporting units are the components of operating segments which constitute businesses for which discrete financial information is available and is regularly reviewed by segment management. No components were aggregated in arriving at our reporting units. Our reporting unit with a goodwill balance at the beginning of fiscal 2014 was Best Buy Domestic.

We review goodwill for impairment by first assessing qualitative factors to determine whether it is more likely than not that the fair value of the reporting unit is less than its carrying amount, including goodwill, as a basis for determining whether it is necessary to perform the two-step goodwill impairment test. If it is determined that it is not more likely than not that the fair value of the reporting unit is less than its carrying amount, we conclude that goodwill is not impaired. If it is determined that it is more likely than not that the fair value of the reporting unit is less than its carrying amount, we conduct detailed impairment testing. The first step of the detailed testing involves estimating the fair value of the reporting unit and comparing this to its carrying amount, including goodwill. If the carrying amount of the reporting unit exceeds its fair value, the second step of the two-step goodwill impairment test is required to measure the goodwill impairment loss. The second step includes hypothetically valuing all tangible and intangible assets and liabilities of the reporting unit as if the reporting unit had been acquired in a business combination. Then, the implied fair value of the reporting unit’s goodwill is compared to the carrying amount of that goodwill. If the carrying amount of the reporting unit’s goodwill exceeds the implied fair value of the goodwill, we recognize an impairment loss in an amount equal to the excess, not to exceed the carrying amount. In fiscal 2014, we determined that the fair value of the Best Buy Domestic reporting unit exceeded its carrying value, and as a result, no goodwill impairment was recorded in fiscal 2014.

In fiscal 2013 (11-month), initial goodwill impairment assessments as of November 4, 2012, based on forecasts in place at that time, indicated that fair value exceeded carrying value for each reporting unit. However, operating performance in our Best Buy Canada and Five Star reporting units fell significantly below expectations in the later part of the fiscal fourth quarter. Therefore, we updated our forecasts for Best Buy Canada and Five Star and tested for goodwill impairment as of the end of fiscal 2013 (11-month). The updated forecasts, which were used as the basis for our discounted cash flow ("DCF") valuations for goodwill testing purposes, reflected significantly lower cash flows than previously forecast. Our analysis for step one of detailed impairment testing indicated that carrying values exceeded fair values for both Best Buy Canada and Five Star. Step two entailed allocating the fair values determined from step one to the fair value of all recognized and appropriately unrecognized assets and liabilities to determine the implied fair value of goodwill. In both cases, this analysis led to the conclusion that the goodwill had no value, and therefore we recorded full impairment of the goodwill associated with Best Buy Canada ($611 million) and Five Star ($208 million). The combined goodwill impairment expense of $819 million is included in our International segment.

For the Best Buy Domestic reporting unit, we determined that the fair value of the reporting unit exceeded its carrying value by a substantial margin and there were no events during the fourth quarter of fiscal 2013 (11-month) that would be more likely than not to reduce the fair value of the Domestic reporting unit below its carrying amount.

Refer to Note 3, Profit Share Buy-Out, for further information on the $1.2 billion goodwill impairment attributable to the Best Buy Europe reporting unit recorded in the fourth quarter of fiscal 2012.

Tradenames and Customer Relationships

Beginning in fiscal 2014, we have presented our tradenames and customer relationships within intangibles, net in our Consolidated Balance Sheets. All prior-year periods have been reclassified to conform to the current year presentation.

We have an indefinite-lived tradename related to Pacific Sales included within our Domestic segment. We also have indefinite-lived tradenames related to Future Shop and Five Star included within our International segment.

Our valuation of identifiable intangible assets acquired is based on information and assumptions available to us at the time of acquisition, using income and market approaches to determine fair value. We amortize definite-lived intangible assets over their estimated useful lives. We do not amortize our indefinite-lived tradenames, but test for impairment annually, or when indications of potential impairment exist.

We utilize the relief from royalty method to determine the fair value of each of our indefinite-lived tradenames. If the carrying value exceeds the fair value, we recognize an impairment loss in an amount equal to the excess. No impairments were identified during fiscal 2014.

We previously had definite-lived customer relationships acquired as part of our acquisition of mindSHIFT within our Domestic segment, and Best Buy Europe within our International segment. At February 2, 2013, the gross carrying amount and accumulated amortization of these customer relationships was $475 million and $272 million, respectively, resulting in a net book value of $203 million. These definite-lived intangible assets were written off as a result of the sales of mindSHIFT and Best Buy Europe in fiscal 2014 as described in Note 4, Discontinued Operations.

The changes in the carrying amount of goodwill and indefinite-lived tradenames by segment were as follows in fiscal 2014, 2013 (11-month) and 2012 ($ in millions):
 
Goodwill
 
Indefinite-Lived Tradenames
 
Domestic
 
International
 
Total
 
Domestic
 
International
 
Total
Balances at February 26, 2011
$
422

 
$
2,032

 
$
2,454

 
$
21

 
$
84

 
$
105

Acquisitions(1)
94

 
—

 
94

 
1

 
—

 
1

Impairments(2)
—

 
(1,207
)
 
(1,207
)
 
—

 
—

 
—

Sale of business
—

 
(7
)
 
(7
)
 
(3
)
 
(2
)
 
(5
)
Changes in foreign currency exchange rates
—

 
1

 
1

 
—

 
1

 
1

Other(3)
—

 
—

 
—

 
—

 
28

 
28

Balances at March 3, 2012
516

 
819

 
1,335

 
19

 
111

 
130

Acquisitions(4)
15

 
—

 
15

 
—

 
—

 
—

Impairments
(3
)
 
(819
)
 
(822
)
 
—

 
—

 
—

Changes in foreign currency exchange rates
—

 
—

 
—

 
—

 
1

 
1

Balances at February 2, 2013
528

 
—

 
528

 
19

 
112

 
131

Impairments
—

 
—

 
—

 
—

 
(4
)
 
(4
)
Sale of business(5)
(103
)
 
—

 
(103
)
 
—

 
(22
)
 
(22
)
Changes in foreign currency exchange rates
—

 
—

 
—

 
—

 
(4
)
 
(4
)
Balances at February 1, 2014
$
425

 
$
—

 
$
425

 
$
19

 
$
82

 
$
101


(1)
Represents goodwill acquired, primarily as a result of the mindSHIFT acquisition in fiscal 2012.
(2)
Represents the full impairment of goodwill attributable to Best Buy Europe as described in Note 3, Profit Share Buy-Out. The gross carrying amount of goodwill and cumulative impairment were written off as a result of the sale of Best Buy Europe in fiscal 2014.
(3)
Represents the transfer of certain definite-lived tradenames (at their net book value) to indefinite-lived tradenames following our decision to no longer phase out certain tradenames. We believe these tradenames will continue to contribute to our future cash flows indefinitely.
(4)
Represents goodwill acquired, primarily as a result of an acquisition made by mindSHIFT in fiscal 2013 (11-month).
(5)
Represents goodwill written-off as a result of the sale of mindSHIFT in fiscal 2014 and indefinite-lived tradenames written off as a result of the sale of Best Buy Europe in fiscal 2014.
The following table provides the gross carrying amount of goodwill and cumulative goodwill impairment losses ($ in millions):
 
February 1, 2014
 
February 2, 2013
 
Gross Carrying
Amount(1)
 
Cumulative
Impairment(1)
 
Gross Carrying
Amount
 
Cumulative
Impairment
Goodwill
$
1,308

 
$
(883
)
 
$
2,608

 
$
(2,080
)

(1)
Excludes the gross carrying amount and cumulative impairment related to Best Buy Europe and mindSHIFT, which were sold during fiscal 2014.
Insurance
 
We are self-insured for certain losses related to health, workers' compensation and general liability claims; however, we obtain third-party insurance coverage to limit our exposure to these claims. A portion of these self-insured losses are managed through a wholly-owned insurance captive. We estimate our self-insured liabilities using a number of factors, including historical claims experience, an estimate of incurred but not reported claims, demographic and severity factors, and valuations provided by independent third-party actuaries. Our self-insured liabilities included in the Consolidated Balance Sheets were as follows ($ in millions):
 
February 1, 2014
 
February 2, 2013
Accrued liabilities
$
88

 
$
77

Long-term liabilities
52

 
47

Total
$
140

 
$
124


Income Taxes

We account for income taxes using the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, and operating loss and tax credit carryforwards. We record a valuation allowance to reduce the carrying amounts of deferred tax assets if it is more likely than not that such assets will not be realized.

In determining our provision for income taxes, we use an annual effective income tax rate based on annual income, permanent differences between book and tax income, and statutory income tax rates. The effective income tax rate also reflects our assessment of the ultimate outcome of tax audits. We adjust our annual effective income tax rate as additional information on outcomes or events becomes available. Discrete events, such as audit settlements or changes in tax laws, are recognized in the period in which they occur.

Our income tax returns are periodically audited by U.S. federal, state and local and foreign tax authorities. At any one time, multiple tax years are subject to audit by the various tax authorities. In evaluating the tax benefits associated with our various tax filing positions, we record a tax benefit for uncertain tax positions using the highest cumulative tax benefit that is more likely than not to be realized. A number of years may elapse before a particular matter, for which we have established a liability, is audited and effectively settled. We adjust our liability for unrecognized tax benefits in the period in which we determine the issue is effectively settled with the tax authorities, the statute of limitations expires for the relevant taxing authority to examine the tax position or when more information becomes available. We include our liability for unrecognized tax benefits, including accrued penalties and interest, in accrued income taxes and long-term liabilities on our Consolidated Balance Sheets and in income tax expense in our Consolidated Statements of Earnings.

Accrued Liabilities

The major components of accrued liabilities at February 1, 2014, and February 2, 2013, were state and local tax liabilities, rent-related liabilities including accrued real estate taxes, loyalty program liabilities and self-insurance reserves.

Long-Term Liabilities

The major components of long-term liabilities at February 1, 2014, and February 2, 2013, were unrecognized tax benefits, rent-related liabilities, deferred compensation plan liabilities, self-insurance reserves and deferred revenue.

Foreign Currency

Foreign currency denominated assets and liabilities are translated into U.S. dollars using the exchange rates in effect at our consolidated balance sheet date. For operations reported on a one-month lag, we use the exchange rates in effect one month prior to our consolidated balance sheet date. Results of operations and cash flows are translated using the average exchange rates throughout the period. The effect of exchange rate fluctuations on the translation of assets and liabilities is included as a component of shareholders' equity in accumulated other comprehensive income. Gains and losses from foreign currency transactions, which are included in SG&A, have not been significant in any of the periods presented.

Revenue Recognition

Our revenue arises primarily from sales of merchandise and services. We also record revenue from sales of service contracts, extended warranties, other commissions and credit card programs. Revenue excludes sales taxes collected.

We recognize revenue when the sales price is fixed or determinable, collection is reasonably assured and the customer takes possession of the merchandise, or in the case of services, the service has been provided. Revenue is recognized for store sales when the customer receives and pays for the merchandise. For online sales, we defer revenue and the related product costs for shipments that are in-transit to the customer, and recognize revenue at the time the customer receives the product. Online customers typically receive goods within a few days of shipment. Revenue from merchandise sales and services is reported net of sales returns, including an estimate of future returns based on historical return rates, with a corresponding reduction to cost of sales. Our sales returns reserve was $13 million and $14 million at February 1, 2014, and February 2, 2013, respectively.

We sell service contracts and extended warranties that typically have terms ranging from three months to four years. We also receive commissions for customer subscriptions with various third parties, notably from mobile phone network operators. In instances where we are deemed to be the obligor on the service contract or subscription, the service and commission revenue is deferred and recognized ratably over the term of the service contract or subscription period. In instances where we are not deemed to be the obligor on the service contract or subscription, commissions are recognized in revenue when such commissions have been earned, primarily driven by customer activation. Service and commission revenues earned from the sale of extended warranties represented 2.1%, 2.4% and 2.4% of revenue in fiscal 2014, 2013 (11-month) and 2012, respectively.

For revenue transactions that involve multiple deliverables, we defer the revenue associated with any undelivered elements. The amount of revenue deferred in connection with the undelivered elements is determined using the relative fair value of each element, which is generally based on each element's relative retail price.

At February 1, 2014, and February 2, 2013, short-term deferred revenue was $399 million and $451 million, respectively. At February 1, 2014, and February 2, 2013, deferred revenue included within long-term liabilities in our Consolidated Balance Sheets was $50 million and $62 million, respectively.

For additional information related to our credit card arrangements and customer loyalty programs, see Credit Services and Financing and Sales Incentives, respectively, below.

Gift Cards

We sell gift cards to our customers in our retail stores, through our websites and through selected third parties. We do not charge administrative fees on unused gift cards and our gift cards do not have an expiration date. We recognize revenue from gift cards when: (i) the gift card is redeemed by the customer, or (ii) the likelihood of the gift card being redeemed by the customer is remote ("gift card breakage"), and we determine that we do not have a legal obligation to remit the value of unredeemed gift cards to the relevant jurisdictions. We determine our gift card breakage rate based upon historical redemption patterns. Based on our historical information, the likelihood of a gift card remaining unredeemed can be determined 24 months after the gift card is issued. At that time, we recognize breakage income for those cards for which the likelihood of redemption is deemed remote and we do not have a legal obligation to remit the value of such unredeemed gift cards to the relevant jurisdictions. Gift card breakage income is included in revenue in our Consolidated Statements of Earnings.

Gift card breakage income was as follows in fiscal 2014, 2013 (11-month) and 2012 ($ in millions):
 
 
12-Month
 
11-Month
 
12-Month
 
 
2014
 
2013
 
2012
Gift card breakage income
 
$
53

 
$
46

 
$
54



Credit Services and Financing

In the U.S., we have an agreement with a bank for the issuance of promotional financing and customer loyalty credit cards bearing the Best Buy brand. Under the agreement, the bank manages and directly extends credit to our customers. Cardholders who choose promotional financing can receive deferred-interest financing on qualifying purchases. The bank is the sole owner of the accounts receivable generated under the program and accordingly, we do not hold any consumer receivables related to these programs. We earn revenue from the bank based primarily on the performance of the portfolio.
 
We also have similar agreements for promotional financing and credit cards with banks for our businesses in Canada, China and Mexico, and we account for these programs in a manner consistent with the U.S. agreement.
 
In addition, we also accept Visa®, MasterCard®, Discover®, JCB® and American Express® credit cards, as well as debit cards from all major international networks.

Sales Incentives

We frequently offer sales incentives that entitle our customers to receive a reduction in the price of a product or service. Sales incentives include discounts, coupons and other offers that entitle a customer to receive a reduction in the price of a product or service either at the point of sale or by submitting a claim for a refund or rebate. For sales incentives issued to a customer in conjunction with a sale of merchandise or services for which we are the obligor, the reduction in revenue is recognized at the time of sale, based on the retail value of the incentive expected to be redeemed.
Customer Loyalty Programs
 
We have customer loyalty programs which allow members to earn points for each qualifying purchase. Points earned enable members to receive a certificate that may be redeemed on future purchases at our Best Buy branded stores. There are two primary ways that members may participate and earn loyalty points.
 
First, we have customer loyalty programs where members earn points for each purchase. Depending on the customer's membership level within our loyalty program, certificates expire either 2 or 12 months from the date of issuance. The retail value of points earned by our loyalty program members is included in accrued liabilities and recorded as a reduction of revenue at the time the points are earned, based on the percentage of points that are projected to be redeemed.
 
Second, under our credit card agreement, we have a customer loyalty credit card bearing the Best Buy brand. Cardholders earn points for purchases made at our stores and related websites in the U.S., as well as purchases at other merchants. Points earned entitle cardholders to receive certificates that may be redeemed on future purchases at our stores and related websites. Certificates expire either 2 or 12 months from the date of issuance. The retail value of points earned by our cardholders is included in accrued liabilities and recorded as a reduction of revenue at the time the points are earned, based on the percentage of points that are projected to be redeemed.
 
We recognize revenue when: (i) a certificate is redeemed by the customer; (ii) a certificate expires, or (iii) the likelihood of a certificate being redeemed by a customer is remote ("certificate breakage"). We determine our certificate breakage rate based upon historical redemption patterns.
Cost of Goods Sold and Selling, General and Administrative Expenses
The following table illustrates the primary costs classified in each major expense category:
Cost of Goods Sold
•
 
Total cost of products sold including:
 
 
—
 
Freight expenses associated with moving merchandise inventories from our vendors to our distribution centers;
 
 
—
 
Vendor allowances that are not a reimbursement of specific, incremental and identifiable costs to promote a vendor's products; and
 
 
—
 
Cash discounts on payments to merchandise vendors;
•
 
Cost of services provided including:
 
 
—
 
Payroll and benefits costs for services employees; and
 
 
—
 
Cost of replacement parts and related freight expenses;
•
 
Physical inventory losses;
•
 
Markdowns;
•
 
Customer shipping and handling expenses;
•
 
Costs associated with operating our distribution network, including payroll and benefit costs, occupancy costs, and depreciation; and
•
 
Freight expenses associated with moving merchandise inventories from our distribution centers to our retail stores.
SG&A
•
 
Payroll and benefit costs for retail and corporate employees;
•
 
Occupancy and maintenance costs of retail, services and corporate facilities;
•
 
Depreciation and amortization related to retail, services and corporate assets;
•
 
Advertising costs;
•
 
Vendor allowances that are a reimbursement of specific, incremental and identifiable costs to promote a vendor's products;
•
 
Tender costs, including bank charges and costs associated with credit and debit card interchange fees;
•
 
Charitable contributions;
•
 
Outside and outsourced service fees;
•
 
Long-lived asset impairment charges; and
•
 
Other administrative costs, such as supplies, and travel and lodging.

Vendor Allowances
 
We receive allowances from certain vendors through a variety of programs and arrangements intended to offset our costs of promoting and selling merchandise inventories. Vendor allowances are primarily in the form of receipt-based funds or sell-through credits. Receipt-based funds are generally determined at an agreed percentage of purchases and are initially deferred and recorded as a reduction of merchandise inventories. The deferred amounts are then included as a reduction of cost of goods sold when the related product is sold. Sell-through credits are generally determined at an agreed percentage of sales and are recognized when the related product is sold. Vendor allowances provided as a reimbursement of specific, incremental and identifiable costs, such as specialized store labor or training costs, are included in SG&A as an expense reduction when the cost is incurred.
Advertising Costs
 
Advertising costs, which are included in SG&A, are expensed the first time the advertisement runs. Advertising costs consist primarily of print and television advertisements as well as promotional events. Advertising expenses were $775 million, $732 million and $828 million in fiscal 2014, 2013 (11-month) and 2012, respectively.
Stock-Based Compensation
 
We apply the fair value recognition provisions of accounting guidance as they relate to our stock-based compensation, which require us to recognize expense for the fair value of our stock-based compensation awards. We recognize compensation expense on a straight-line basis over the requisite service period of the award (or to an employee's eligible retirement date, if earlier).
Fiscal Year-End Change
Fiscal Year-End Change
Fiscal Year-end Change
 
On November 2, 2011, our Board of Directors approved a change to our fiscal year-end from the Saturday nearest the end of February to the Saturday nearest the end of January. As a result of this change, our fiscal year 2013 was an 11-month transition period beginning March 4, 2012, through February 2, 2013. In the first quarter of fiscal 2013 (11-month), we also began consolidating the results of our Europe, China and Mexico operations on a one-month lag, compared to a two-month lag in fiscal year 2012, to continue to align our fiscal reporting periods with statutory filing requirements.
 
The following table shows the fiscal months included within our financial statements and footnotes for fiscal 2014, fiscal 2013 (11-month) and fiscal 2012.
New Fiscal Calendar(1)
 
Previous Fiscal Calendar(1)
2014
 
2013 (11-Month)
 
2012
February 2013 - January 2014
 
March 2012 - January 2013
 
March 2011 - February 2012
(1)
For entities reported on a lag, the fiscal months included in fiscal 2013 (11-month) were February through December, and in fiscal 2014 and 2012 were January through December.
 
January Results for Entities Reported on a Lag
 
As a result of the 11-month transition period in fiscal 2013, the month of January 2012 was not captured in our consolidated fiscal 2013 (11-month) results for those entities reported on a one-month lag. The following is selected financial data for the one month ended January 31, 2012, and the comparable prior year period, for entities reported on a lag ($ in millions):
 
One Month Ended
 
January 31, 2012
 
January 31, 2011
 
(unaudited)
 
(unaudited)
Revenue
$
189

 
$
249

Gross profit
16

 
24

Operating loss
(14
)
 
(1
)
Net earnings (loss) from continuing operations
(13
)
 
—

Loss from discontinued operations, net of tax
(12
)
 
(28
)
Net loss including noncontrolling interests
(25
)
 
(28
)
Net loss attributable to Best Buy Co., Inc. shareholders(1)
(14
)
 
(33
)
(1)
The net loss attributable to Best Buy Co., Inc. shareholders for the one month ended January 31, 2012, represents the adjustment to retained earnings within the Consolidated Statements of Changes in Shareholders' Equity as a result of the exclusion of January results for entities reported on a lag.

In addition, the Consolidated Statements of Cash Flows includes a net reconciling adjustment for the cash flows as a result of the exclusion of January 2012 in fiscal 2013 (11-month) described above. The total adjustment was $74 million, primarily due to $50 million of cash used in financing activities and $18 million of cash used in investing activities. The total adjustment for January 2011 in fiscal 2012 (11-month recast) was $5 million. The adjustments for both periods included the effect of exchange rate changes on our cash balances.
Profit Share Buy-Out
Profit Share Buy-Out
Profit Share Buy-Out

During fiscal 2008, we entered into a profit-sharing agreement with Carphone Warehouse Group plc ("CPW") (the "profit share agreement"). Under the terms of this agreement, CPW provided expertise and certain other resources to enhance our mobile telephone retail business ("Best Buy Mobile") in return for a share of incremental profits generated in excess of defined thresholds.

During fiscal 2009, we acquired a 50% controlling interest in the retail business of CPW, subsequently referred to as Best Buy Europe, which included the profit share agreement with Best Buy Mobile. CPW held a 50% noncontrolling interest in Best Buy Europe until the sale of our 50% interest in Best Buy Europe to CPW in the second quarter of fiscal 2014. Refer to Note 4, Discontinued Operations.

In November 2011, we announced strategic changes in respect of Best Buy Europe, including an agreement to buy out CPW's interest in the profit share agreement for $1.3 billion (the "Mobile buy-out"), subject to the approval of CPW shareholders. The Mobile buy-out was completed during the fourth quarter of fiscal 2012.

Financial Reporting Impact of the Mobile Buy-out

We accounted for the Mobile buy-out transaction as a $1.3 billion payment to terminate the future payments due under the profit share agreement with Best Buy Europe, thereby eliminating CPW's interest in the profits. This payment is presented within net earnings (loss) from discontinued operations attributable to noncontrolling interests in our Consolidated Statements of Earnings, consistent with the financial reporting of the previous recurring payments made pursuant to the profit share agreement. In the Consolidated Statements of Cash Flows, the payment to CPW is included within payment to noncontrolling interest, as part of cash flows from financing activities.

Goodwill Impairment - Best Buy Europe

We recorded $1.5 billion of goodwill as a result of our acquisition of Best Buy Europe in fiscal 2009. This goodwill was part of our Best Buy Europe reporting unit, which comprised our 50% controlling interest in Best Buy Europe and the profit share agreement with Best Buy Mobile.

At the time of the announcement of the Mobile buy-out in November 2011, we also announced the closure of our large-format Best Buy branded stores in the U.K. As of the end of the third quarter of fiscal 2012, and in light of these strategic decisions, we performed an interim evaluation of potential impairment of goodwill associated with the Best Buy Europe reporting unit. Following the elimination of the profit share agreement from Best Buy Europe and the closure of large-format Best Buy branded stores in the U.K., the remaining fair value of the Best Buy Europe reporting unit was entirely attributable to its small-format store retail operations. As a result of these events, we performed a goodwill impairment analysis and determined that the goodwill attributable to the Best Buy Europe reporting unit, representing $1.2 billion as of January 24, 2012, had been fully impaired. The impairment loss is recorded in gain (loss) from discontinued operations within our Consolidated Statements of Earnings in fiscal 2012.

Acceleration of Intervening Event

The results of Best Buy Europe were recorded on a two-month lag in fiscal 2012. However, as described in Note 1, Summary of Significant Accounting Policies, the Mobile buy-out in January 2012 constituted a significant intervening event. Consequently, the recording of all accounting impacts arising from the Mobile buy-out, including the goodwill impairment, were accelerated and recorded in the fourth quarter of fiscal 2012 due to their significance to our consolidated financial statements.
Discontinued Operations
Discontinued Operations
Discontinued Operations

Discontinued operations comprise the following:

Domestic Segment

Napster – During the third quarter of fiscal 2012, we sold certain assets comprising the domestic operations of Napster, Inc. to Rhapsody International and ceased operations in the U.S. Napster's operations comprised digital media download and streaming services in the U.S. In consideration for the sale of these assets, Best Buy received a minority investment in Rhapsody International. We do not exercise significant influence over Rhapsody International.

mindSHIFT – During the fourth quarter of fiscal 2014, we completed the sale of mindSHIFT to Ricoh Americas Corporation, at which time we recorded an $18 million pre-tax loss.

International Segment

Best Buy China – During the fourth quarter of fiscal 2011, we announced the restructuring of our eight large-format Best Buy branded stores in China. The closure of Best Buy branded stores was completed in the first quarter of fiscal 2012.

Best Buy Turkey – During the fourth quarter of fiscal 2011, we announced the closure of our two large-format Best Buy branded stores in Turkey. The exit activities were completed during the second quarter of fiscal 2012, at which time we recorded a $4 million pre-tax gain on the sale of certain assets related to the stores.

Best Buy Europe – During the third quarter of fiscal 2012, we announced the closure of our 11 large-format Best Buy branded stores in the U.K. We completed the exit activities associated with these stores during the fourth quarter of fiscal 2012.

During the fourth quarter of fiscal 2012, Best Buy Europe sold its retail business in Belgium, consisting of 82 small-format The Phone House stores, to Belgacom S.A. As a result of the sale, a pre-tax gain of $5 million was recorded in fiscal 2012.

During the second quarter of fiscal 2014, we completed the sale of our 50% ownership interest in Best Buy Europe to CPW in return for the following consideration upon closing: net cash of £341 million ($526 million); £80 million ($123 million) of ordinary shares of CPW; £25 million ($39 million), plus 2.5% interest, to be paid by CPW on June 26, 2014; and £25 million ($39 million), plus 2.5% interest, to be paid by CPW on June 26, 2015. We subsequently sold the ordinary shares of CPW for $123 million on July 3, 2013.

The composition of assets and liabilities disposed of on June 26, 2013, as a result of the sale of Best Buy Europe was as follows ($ in millions):
 
June 26, 2013
Cash and cash equivalents
$
597

Receivables
1,295

Merchandise inventories
554

Other current assets
168

Net property and equipment
159

Other assets
316

Total assets
3,089

 
 
Accounts payable
790

Short-term debt
973

Other current liabilities
1,145

Long-term liabilities
65

Total liabilities
2,973



The aggregate financial results of all discontinued operations for fiscal 2014, 2013 (11-month) and 2012 were as follows ($ in millions):
 
12-Month
 
11-Month
 
12-Month
 
2014
 
2013
 
2012
Revenue
$
2,815

 
$
5,259

 
$
5,658

Restructuring charges(1)
100

 
34

 
239

Gain (loss) from discontinued operations before income tax benefit
(240
)
 
15

 
(1,521
)
Income tax benefit(2)
42

 
37

 
122

Gain on sale of discontinued operations
32

 
—

 
—

Equity in loss of affiliates
—

 
(5
)
 
(3
)
Net gain (loss) from discontinued operations including noncontrolling interests
(166
)
 
47

 
(1,402
)
Net (gain) loss from discontinued operations attributable to noncontrolling interests
11

 
(19
)
 
(1,250
)
Net gain (loss) from discontinued operations attributable to Best Buy Co., Inc. shareholders
$
(155
)
 
$
28

 
$
(2,652
)
(1)
See Note 6, Restructuring Charges, for further discussion of the restructuring charges associated with discontinued operations.
(2)
Income tax benefit for fiscal 2014 includes a $27 million benefit related to a tax allocation between continuing and discontinued operations and a $15 million benefit related to the impairment of our investment in Best Buy Europe. The fiscal 2014 effective tax rate for discontinued operations differs from the statutory tax rate primarily due to the previously mentioned tax allocation, sale of mindSHIFT, restructuring charges and the impairment of our investment in Best Buy Europe. The sale of mindSHIFT, restructuring charges and impairment generally included no related tax benefit. The deferred tax assets related to the sale of mindSHIFT and restructuring charges generally resulted in an increase in the valuation allowance in an equal amount, of which the investment impairment is not tax deductible.
Fair Value Measurements
Fair Value Measurements
Fair Value Measurements

Fair value is the price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. To measure fair value, we use a three-tier valuation hierarchy based upon observable and non-observable inputs:

Level 1 — Unadjusted quoted prices that are available in active markets for identical assets or liabilities at the measurement date.

Level 2 — Significant other observable inputs available at the measurement date, other than quoted prices included in Level 1, either directly or indirectly, including:

•
Quoted prices for similar assets or liabilities in active markets;
•
Quoted prices for identical or similar assets in non-active markets;
•
Inputs other than quoted prices that are observable for the asset or liability; and
•
Inputs that are derived principally from or corroborated by other observable market data.

Level 3 — Significant unobservable inputs that cannot be corroborated by observable market data and reflect the use of significant management judgment. These values are generally determined using pricing models for which the assumptions utilize management's estimates of market participant assumptions.

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 February 1, 2014, and February 2, 2013, according to the valuation techniques we used to determine their fair values ($ in millions).
 
 
 
Fair Value Measurements Using Inputs Considered as
 
Fair Value at
February 1, 2014
 
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
$
53

 
$
53

 
$
—

 
$
—

Commercial paper
80

 
—

 
80

 
—

Treasury bills
263

 
263

 
—

 
—

Short-term investments
 
 
 
 
 
 
 
Commercial paper
100

 
—

 
100

 
—

Other current assets
 
 
 
 
 
 
 
Foreign currency derivative instruments
2

 
—

 
2

 
—

Other assets
 
 
 
 
 
 
 
Auction rate securities
9

 
—

 
—

 
9

Marketable securities that fund deferred compensation
96

 
96

 
—

 
—

Liabilities
 
 
 
 
 
 
 
Accrued liabilities
 
 
 
 
 
 
 
Foreign currency derivative instruments
5

 
—

 
5

 
—

 
 
 
 
Fair Value Measurements Using Inputs Considered as
 
Fair Value at
February 2, 2013
 
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
$
520

 
$
520

 
$
—

 
$
—

Other current assets


 
 

 
 

 
 

Foreign currency derivative instruments
1

 
—

 
1

 
—

Other assets


 
 

 
 

 
 

Auction rate securities
21

 
—

 
—

 
21

Marketable equity securities
27

 
27

 
—

 
—

Marketable securities that fund deferred compensation
88

 
88

 
—

 
—


The following table provides a reconciliation between the beginning and ending balances of items measured at fair value on a recurring basis in the tables above that used significant unobservable inputs (Level 3) ($ in millions).
 
Debt securities — Auction rate securities only
 
Student loan bonds
 
Municipal revenue bonds
 
Total
Balances at March 3, 2012
$
80

 
$
2

 
$
82

Changes in unrealized losses in other comprehensive income
4

 
—

 
4

Sales
(65
)
 
—

 
(65
)
Balances at February 2, 2013
19

 
2

 
21

Changes in unrealized losses in other comprehensive income
1

 
—

 
1

Sales
(13
)
 
—

 
(13
)
Balances at February 1, 2014
$
7

 
$
2

 
$
9



The following methods and assumptions were used to estimate the fair value of each class of financial instrument:
 
Money Market Funds. Our money market fund investments that are traded in an active market were measured at fair value using quoted market prices and, therefore, were classified as Level 1. Our money market fund investments not traded on a regular basis or in an active market, and for which we have been unable to obtain pricing information on an ongoing basis, were measured using inputs other than quoted market prices that are observable for the investments and, therefore, were classified as Level 2.
 
Commercial Paper. Our investments in commercial paper were measured using inputs based upon quoted prices for similar instruments in active markets and, therefore, were classified as Level 2.
 
Treasury Bills. Our Treasury bills were classified as Level 1 as they trade with sufficient frequency and volume to enable us to obtain pricing information on an ongoing basis.
 
Foreign Currency Derivative Instruments. Comprised primarily of foreign currency forward contracts and foreign currency swap contracts, our foreign currency derivative instruments were measured at fair value using readily observable market inputs, such as quotations on forward foreign exchange points and foreign interest rates. Our foreign currency derivative instruments were classified as Level 2 as these instruments are custom, over-the-counter contracts with various bank counterparties that are not traded in an active market.
 
Auction Rate Securities. Our investments in auction rate securities ("ARS") were classified as Level 3 as quoted prices were unavailable. Due to limited market information, we utilized a DCF model to derive an estimate of fair value. The assumptions we used in preparing the DCF model included estimates with respect to the amount and timing of future interest and principal payments, forward projections of the interest rate benchmarks, the probability of full repayment of the principal considering the credit quality and guarantees in place, and the rate of return required by investors to own such securities given the current liquidity risk associated with ARS.
 
Marketable Equity Securities. Our marketable equity securities were measured at fair value using quoted market prices. They were classified as Level 1 as they trade in an active market for which closing stock prices are readily available.
 
Deferred Compensation. The assets that fund our deferred compensation consist of investments in mutual funds. These investments were classified as Level 1 as the shares of these mutual funds trade with sufficient frequency and volume to enable us to obtain pricing information on an ongoing basis.
 
Assets and Liabilities that are Measured at Fair Value on a Nonrecurring Basis
 
Assets and liabilities that are measured at fair value on a nonrecurring basis relate primarily to our tangible fixed assets, goodwill and other intangible assets, which are remeasured when the derived fair value is below carrying value on our Consolidated Balance Sheets. For these assets, we do not periodically adjust carrying value to fair value except in the event of impairment. When we determine that impairment has occurred, the carrying value of the asset is reduced to fair value and the difference is recorded within operating income in our Consolidated Statements of Earnings.
 
The following table summarizes the fair value remeasurements for non-restructuring property and equipment impairments, goodwill impairments and restructuring activities recorded for fiscal 2014 and fiscal 2013 (11-month) ($ in millions):
 
12-Month 2014
 
11-Month 2013
 
Impairments
 
Remaining Net
Carrying Value(1)
 
Impairments
 
Remaining Net
Carrying Value (1)
Continuing operations
 
 
 
 
 
 
 
Property and equipment (non-restructuring)
$
101

 
$
10

 
$
60

 
$
8

Goodwill(2)
—

 
—

 
822

 
—

Restructuring activities(3)
 
 
 
 
 
 
 
Property and equipment
9

 
—

 
59

 
—

Investments
16

 
21

 
27

 
38

Total
$
126

 
$
31

 
$
968

 
$
46

Discontinued operations(4)
 
 
 
 
 
 
 
Property and equipment(5)
$
220

 
$
—

 
$
11

 
$
—

Tradename
4

 
—

 
—

 
—

Total
$
224

 
$
—

 
$
11

 
$
—

(1)
Remaining net carrying value approximates fair value.
(2)
See Note 1, Significant Accounting Policies, for additional information.
(3)
See Note 6, Restructuring Charges, for additional information.
(4)
Property and equipment and tradename impairments associated with discontinued operations are recorded within gain (loss) from discontinued operations in our Consolidated Statements of Earnings.
(5)
Includes the $175 million impairment to write down the book value of our investment in Best Buy Europe to fair value. Upon completion of the sale of Best Buy Europe as described in Note 4, Discontinued Operations, the remaining net carrying values of all assets have been reduced to zero.

All of the fair value remeasurements included in the table above were based on significant unobservable inputs (Level 3). Refer to Note 1, Summary of Significant Accounting Policies, as well as Note 3, Profit Share Buy-Out, for further information associated with the goodwill impairments. Fixed asset fair values were derived using a DCF model to estimate the present value of net cash flows that the asset or asset group was expected to generate. The key inputs to the DCF model generally included our forecasts of net cash generated from revenue, expenses and other significant cash outflows, such as capital expenditures, as well as an appropriate discount rate. For the tradename, fair value was derived using the relief from royalty method, as described in Note 1, Summary of Significant Accounting Policies. In the case of these specific assets, for which their impairment was the result of restructuring activities, no future cash flows have been assumed as the assets will cease to be used and expected sale values are nominal.

Fair Value of Financial Instruments

Our financial instruments, other than those presented in the disclosures above, include cash, receivables, short-term investments, other investments, accounts payable, other payables, and short- and long-term debt. The fair values of cash, receivables, short-term investments, accounts payable, other payables and short-term debt approximated carrying values because of the short-term nature of these instruments. If these instruments were measured at fair value in the financial statements, they would be classified as Level 1 in the fair value hierarchy. Fair values for other investments held at cost are not readily available, but we estimate that the carrying values for these investments approximate fair value. See Note 7, Debt, for information about the fair value of our long-term debt.
Restructuring Charges
Restructuring Charges
Restructuring Charges
 
Summary
 
Restructuring charges incurred in fiscal 2014, 2013 (11-month) and 2012 were as follows ($ in millions):
 
12-Month
 
11-Month
 
12-Month
 
2014
 
2013
 
2012
Continuing operations
 
 
 
 
 
Renew Blue
$
165

 
$
171

 
$
—

Fiscal 2013 U.S. restructuring
(6
)
 
257

 
—

Fiscal 2012 restructuring
—

 
(1
)
 
28

Fiscal 2011 restructuring
—

 
(12
)
 
20

Total
159

 
415

 
48

Discontinued operations
 
 
 
 
 
Fiscal 2013 Europe restructuring
95

 
36

 
—

Fiscal 2012 restructuring
5

 
(1
)
 
215

Fiscal 2011 restructuring
—

 
(1
)
 
24

Total (Note 4)
100

 
34

 
239

Total
$
259

 
$
449

 
$
287


 
Renew Blue Plan
 
In the fourth quarter of fiscal 2013 (11-month), we began implementing initiatives intended to reduce costs and improve operating performance. These initiatives included focusing on core business activities, reducing headcount, updating our store operating model and optimizing our real estate portfolio. These cost reduction initiatives represent one of the key Renew Blue priorities for fiscal 2014 and cost reductions will continue to be a priority in fiscal 2015. We incurred $165 million of charges related to Renew Blue initiatives during fiscal 2014. Of the total charges, $129 million related to our Domestic segment, which consisted of employee termination benefits, investment impairments, and property and equipment impairments. The remaining $36 million of charges related to our International segment and consisted of employee termination benefits, facility closure and other costs, and property and equipment impairments. We expect to continue to implement cost reduction initiatives throughout fiscal 2015, as we further analyze our operations and strategies.
 
We incurred $171 million of charges related to Renew Blue initiatives during fiscal 2013 (11-month). Of the total charges, $84 million related to our Domestic segment, which consisted primarily of employee termination benefits, investment impairments, and property and equipment impairments. The remaining $87 million of charges related to our International segment and consisted of facility closure and other costs, property and equipment impairments, and employee termination benefits.

All restructuring charges related to this plan are from continuing operations. Inventory write-downs are presented in restructuring charges - cost of goods sold in our Consolidated Statements of Earnings, and the remainder of restructuring charges are presented in restructuring charges in our Consolidated Statements of Earnings.
 
The composition of the restructuring charges we incurred for this program in fiscal 2014 and 2013 (11-month), as well as the cumulative amount incurred through the end of fiscal 2014, was as follows ($ in millions):
 
Domestic
 
International
 
Total
 
12-Month 2014
 
11-Month 2013
 
Cumulative Amount
 
12-Month 2014
 
11-Month 2013
 
Cumulative Amount
 
12-Month 2014
 
11-Month 2013
 
Cumulative Amount
Continuing operations
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Inventory write-downs
$
—

 
$
1

 
$
1

 
$
—

 
$
—

 
$
—

 
$
—

 
$
1

 
$
1

Property and equipment impairments
7

 
7

 
14

 
2

 
23

 
25

 
9

 
30

 
39

Termination benefits
106

 
46

 
152

 
28

 
9

 
37

 
134

 
55

 
189

Investment impairments
16

 
27

 
43

 
—

 
—

 
—

 
16

 
27

 
43

Facility closure and other costs
—

 
3

 
3

 
6

 
55

 
61

 
6

 
58

 
64

Total
$
129

 
$
84

 
$
213

 
$
36

 
$
87

 
$
123

 
$
165

 
$
171

 
$
336

The following table summarizes our restructuring accrual activity during fiscal 2014 and 2013 (11-month) related to termination benefits and facility closure and other costs associated with this program ($ in millions):
 
Termination Benefits
 
Facility
Closure and
Other Costs
 
Total
Balance at March 3, 2012
$
—

 
$
—

 
$
—

Charges
55

 
54

 
109

Cash payments
(1
)
 
—

 
(1
)
Balance at February 2, 2013
54

 
54

 
108

Charges
133

 
16

 
149

Cash payments
(68
)
 
(23
)
 
(91
)
Adjustments
(8
)
 
4

 
(4
)
Balance at February 1, 2014
$
111

 
$
51

 
$
162


 
Fiscal 2013 Europe Restructuring
 
In the third quarter of fiscal 2013 (11-month), we also initiated a series of actions to restructure our Best Buy Europe operations in our International segment intended to improve operating performance. All restructuring charges related to this program are reported within gain (loss) from discontinued operations in our Consolidated Statements of Earnings as a result of the sale of our 50% ownership interest in Best Buy Europe. Refer to Note 4, Discontinued Operations. We incurred $95 million of restructuring charges in fiscal 2014, consisting primarily of property and equipment impairments, and employee termination benefits. In fiscal 2013 (11-month), we incurred $36 million of charges related to employee termination benefits, property and equipment impairments, and facility closure and other costs. Given the sale of Best Buy Europe, we do not expect to incur additional restructuring charges related to this program.
 
The composition of the restructuring charges we incurred for this program in fiscal 2014 and 2013 (11-month), as well as the cumulative amount incurred through the end of fiscal 2014, was as follows ($ in millions):
 
International
 
12-Month 2014
 
11-Month 2013
 
Cumulative Amount
Discontinued operations
 
 
 
 
 
Inventory write-downs
$
7

 
$
—

 
$
7

Property and equipment impairments
45

 
12

 
57

Termination benefits
36

 
19

 
55

Tradename impairments
4

 
—

 
4

Facility closure and other costs
3

 
5

 
8

Total
$
95

 
$
36

 
$
131


The following table summarizes our restructuring accrual activity during fiscal 2014 and 2013 (11-month) related to termination benefits and facility closure and other costs associated with this program ($ in millions):
 
Termination Benefits
 
Facility
Closure and
Other Costs
 
Total
Balance at March 3, 2012
$
—

 
$
—

 
$
—

Charges
19

 
5

 
24

Cash payments
(19
)
 
—

 
(19
)
Balance at February 2, 2013
—

 
5

 
5

Charges
36

 
2

 
38

Cash payments
(2
)
 
(7
)
 
(9
)
Adjustments(1)
(34
)
 
—

 
(34
)
Balance at February 1, 2014
$
—

 
$
—

 
$
—


(1)
Represents the remaining liability written off as a result of the sale of Best Buy Europe, as described in Note 4, Discontinued Operations.
 
Fiscal 2013 U.S. Restructuring
 
In the first quarter of fiscal 2013 (11-month), we initiated a series of actions to restructure operations in our Domestic segment intended to improve operating performance. The actions included closure of 49 large-format Best Buy branded stores in the U.S. and changes to the store and corporate operating models. The costs of implementing the changes primarily consisted of facility closure costs, employee termination benefits, and property and equipment (primarily store fixtures) impairments. We recognized a reduction to restructuring charges of $6 million in fiscal 2014 as a result of the buyout of a lease for less than the remaining vacant space liability. In fiscal 2013 (11-month), we incurred $257 million of charges, primarily consisting of facility closure and other costs, employee termination benefits, and property and equipment impairments. We do not expect to incur further material restructuring charges related to this program, with the exception of lease payments for vacated stores which will continue until the lease expires or we otherwise terminate the lease.
 
The restructuring charges related to this program are from continuing operations and are presented in restructuring charges in our Consolidated Statements of Earnings. The composition of the restructuring charges we incurred for this program in fiscal 2014 and 2013 (11-month), as well as the cumulative amount incurred through the end of fiscal 2014, was as follows ($ in millions):
 
Domestic
 
12-Month 2014
 
11-Month 2013
 
Cumulative Amount
Continuing operations
 
 
 
 
 
Property and equipment impairments
$
—

 
$
29

 
$
29

Termination benefits
—

 
77

 
77

Facility closure and other costs
(6
)
 
151

 
145

Total
$
(6
)
 
$
257

 
$
251


 
The following table summarizes our restructuring accrual activity during fiscal 2014 and 2013 (11-month) related to termination benefits and facility closure and other costs associated with this program ($ in millions):
 
Termination Benefits
 
Facility
Closure and
Other Costs
 
Total
Balance at March 3, 2012
$
—

 
$
—

 
$
—

Charges
109

 
152

 
261

Cash payments
(65
)
 
(33
)
 
(98
)
Adjustments
(40
)
 
(6
)
 
(46
)
Balance at February 2, 2013
4

 
113

 
117

Charges
—

 
4

 
4

Cash payments
(2
)
 
(46
)
 
(48
)
Adjustments
(2
)
 
(13
)
 
(15
)
Balance at February 1, 2014
$
—

 
$
58

 
$
58


Fiscal 2012 Restructuring Plan

In the third quarter of fiscal 2012, we implemented a series of actions to restructure operations in our Domestic and International segments. The actions within our Domestic segment included a decision to modify our strategy for certain mobile broadband offerings. In our International segment, we closed our large-format Best Buy branded stores in the U.K. and impaired certain information technology assets supporting the restructured operations. All restructuring charges related to Best Buy Europe, including the charges related to the large-format Best Buy branded stores in the U.K., are reported within gain (loss) from discontinued operations in our Consolidated Statements of Earnings. Refer to Note 4, Discontinued Operations. All other restructuring charges related to this program are from continuing operations and are presented in restructuring charges in our Consolidated Statements of Earnings.

We incurred $5 million of charges related to this program in fiscal 2014, representing a change in sublease assumptions. During fiscal 2013 (11-month), we recorded a gain of $2 million related to this program, primarily related to our International segment from adjustments to estimated facility closures costs associated with the closure of our Best Buy branded stores in the U.K.

We incurred $243 million of charges related to this program during fiscal 2012. Of the total charges, $23 million related to our Domestic segment and consisted primarily of IT asset impairments and other related costs. The remaining $220 million of charges related to our International segment and consisted primarily of property and equipment impairments, facility closure and other costs, employee termination benefits and inventory write-downs. We do not expect to incur further material restructuring charges related to this program in either our Domestic or International segments, as we have substantially completed these restructuring activities.

The composition of the restructuring charges we incurred for this program in fiscal 2014, 2013 (11-month) and 2012, as well as the cumulative amount incurred through the end of fiscal 2014, was as follows ($ in millions):
 
Domestic
 
International
 
Total
 
12-Month 2014
 
11-Month 2013
 
12-Month 2012
 
Cumulative Amount
 
12-Month 2014
 
11-Month 2013
 
12-Month 2012
 
Cumulative Amount
 
12-Month 2014
 
11-Month 2013
 
12-Month 2012
 
Cumulative Amount
Continuing operations
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property and equipment impairments
$
—

 
$
—

 
$
17

 
$
17

 
$
—

 
$
—

 
$
5

 
$
5

 
$
—

 
$
—

 
$
22

 
$
22

Termination benefits
—

 
—

 
1

 
1

 
—

 
—

 
—

 
—

 
—

 
—

 
1

 
1

Facility closure and other costs
—

 
(1
)
 
5

 
4

 
—

 
—

 
—

 
—

 
—

 
(1
)
 
5

 
4

Total
—

 
(1
)
 
23

 
22

 
—

 
—

 
5

 
5

 
—

 
(1
)
 
28

 
27

Discontinued operations
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Inventory write-downs
—

 
—

 
—

 
—

 
—

 
—

 
11

 
11

 
—

 
—

 
11

 
11

Property and equipment impairments
—

 
—

 
—

 
—

 
—

 
—

 
106

 
106

 
—

 
—

 
106

 
106

Termination benefits
—

 
—

 
—

 
—

 
—

 
1

 
16

 
17

 
—

 
1

 
16

 
17

Facility closure and other costs
—

 
—

 
—

 
—

 
5

 
(2
)
 
82

 
85

 
5

 
(2
)
 
82

 
85

Total
—

 
—

 
—

 
—

 
5

 
(1
)
 
215

 
219

 
5

 
(1
)
 
215

 
219

Total
$
—

 
$
(1
)
 
$
23

 
$
22

 
$
5

 
$
(1
)
 
$
220

 
$
224

 
$
5

 
$
(2
)
 
$
243

 
$
246



The following table summarizes our restructuring accrual activity during fiscal 2014 and 2013 (11-month) related to termination benefits and facility closure and other costs associated with this program ($ in millions):
 
Termination Benefits
 
Facility
Closure and
Other Costs
 
Total
Balance at March 3, 2012
$
17

 
$
85

 
$
102

Charges
1

 
2

 
3

Cash payments
(18
)
 
(83
)
 
(101
)
Adjustments(1)
—

 
28

 
28

Changes in foreign currency exchange rates
—

 
4

 
4

Balance at February 2, 2013
—


36

 
36

Cash payments
—

 
(33
)
 
(33
)
Adjustments(2)
—

 
(1
)
 
(1
)
Changes in foreign currency exchange rates
—

 
(2
)
 
(2
)
Balance at February 1, 2014
$
—

 
$
—

 
$
—


(1)
Included within adjustments to facility closure and other costs is $34 million from the first quarter of fiscal 2013 (11-month), representing an adjustment to exclude non-cash charges or benefits, which had no impact on our Consolidated Statements of Earnings in fiscal 2013 (11-month).
(2)
Included within adjustments to facility closure and other costs is a $5 million charge related to a change in sublease assumptions, offset by a $(6) million adjustment to write off the remaining liability as a result of the sale of Best Buy Europe, as described in Note 4, Discontinued Operations.

Fiscal 2011 Restructuring Plan

In the fourth quarter of fiscal 2011, we implemented a series of actions to restructure operations in our Domestic and International segments in order to improve performance and enhance customer service. The restructuring actions included plans to improve supply chain and operational efficiencies in our Domestic segment's operations, primarily focused on modifications to our distribution channels and exit from certain digital delivery services within our entertainment product category. During fiscal 2013 (11-month), we recorded a net reduction to restructuring charges of $13 million, which related primarily to our Domestic segment. The net reduction was largely the result of a gain recorded on the sale of a previously impaired distribution facility and equipment during the first quarter of fiscal 2013 (11-month) (previously impaired through restructuring charges), partially offset by charges associated with the exit from certain digital delivery services within our entertainment product category.

In fiscal 2012, we incurred $44 million of charges related to this program, which related primarily to our Domestic segment consisting primarily of property and equipment impairments (notably IT assets), employee termination benefits, intangible asset impairments and other costs associated with the exit from certain digital delivery services within our entertainment product category. Within our Domestic segment, we also incurred additional inventory write-downs as we completed the exit from certain distribution facilities associated with our entertainment product category at the end of fiscal 2012. We have completed activities under this program.
Debt
Debt
Debt
 
Short-Term Debt
 
Short-term debt consisted of the following ($ in millions):
 
February 1, 2014
 
February 2, 2013
 
Principal
Balance
 
Interest
Rate
 
Principal
Balance
 
Interest
Rate
Europe revolving credit facility(1)
$
—

 
—
%
 
$
596

 
2.0
%
 
 
12-Month
 
11-Month
Fiscal Year
 
2014
 
2013
Maximum month-end amount outstanding during the year(1)
 
$
597

 
$
596

Average amount outstanding during the year(1)
 
135

 
477


(1)
Amounts relate to our previous £400 million Europe unsecured revolving credit facility agreement (the "RCF"). Interest rates under the previous RCF were variable, based on LIBOR plus an applicable margin based on Best Buy Europe's fixed charges coverage ratio. As described in Note 4, Discontinued Operations, we sold our interest in Best Buy Europe on June 26, 2013.

U.S. Revolving Credit Facilities

On June 25, 2013, we entered into a $500 million 364-day senior unsecured revolving credit facility agreement (the "364-Day Facility Agreement") with a syndicate of lenders. The 364-Day Facility Agreement replaces the previous $1.0 billion senior unsecured revolving credit facility with a syndicate of banks, which was originally scheduled to expire on August 30, 2013, but was terminated on June 25, 2013.

The interest rate under the 364-Day Facility Agreement is variable and is determined at the registrant's option as either: (i) the sum of (a) the greatest of (1) JPMorgan's prime rate, (2) the federal funds rate plus 0.5%, and (3) the one-month London Interbank Offered Rate (“LIBOR”) plus 1.0%, and (b) a variable margin rate (the “ABR Margin”); or (ii) the LIBOR plus a variable margin rate (the “LIBOR Margin”). In addition, a facility fee is assessed on the commitment amount. The ABR Margin, LIBOR Margin and the facility fee are based upon our current senior unsecured debt rating by Standard and Poor's Rating Services and Moody's Investors Services, Inc. Under the 364-Day Facility Agreement, the ABR Margin ranges from 0.0% to 0.6%, the LIBOR Margin ranges from 0.925% to 1.6%, and the facility fee ranges from 0.075% to 0.275%. The 364-Day Facility Agreement terminates in June 2014 (subject to a one-year term-out option).

On October 7, 2011, we 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 a syndicate of banks. The interest rates under the Five-Year Facility Agreement is variable and determined at our option as: (i) the sum of (a) the greatest of JPMorgan's prime rate, the federal funds rate plus 0.5%, or the one-month London Interbank Offered Rate (“LIBOR”) plus 1.0%, and (b) a margin (the “ABR Margin”); or (ii) the LIBOR plus a margin (the “LIBOR Margin”). In addition, a facility fee is assessed on the commitment amount. The ABR Margin, LIBOR Margin and the facility fee are based upon our long-term credit ratings. Under the Five-Year Facility Agreement, the ABR Margin ranges from 0.0% to 0.475%, the LIBOR Margin ranges from 0.875% to 1.475%, and the facility fee ranges from 0.125% to 0.275%. The Five-Year Facility Agreement terminates in October 2016.

The Agreements permit borrowings of up to $2.0 billion (which may be increased to up to $2.5 billion at our option under certain circumstances) and a $300 million letter of credit sublimit. At February 1, 2014, and February 2, 2013, there were no borrowings outstanding and at February 1, 2014, $2.0 billion was available under the Agreements.
 
The Agreements are guaranteed by specified subsidiaries of Best Buy Co., Inc. and contain customary affirmative and negative covenants. Among other things, these covenants restrict Best Buy Co., Inc. or its subsidiaries' ability to incur certain types or amounts of indebtedness, incur liens on certain assets, make material changes in corporate structure or the nature of its business, dispose of material assets, engage in a change in control transaction, make certain foreign investments, enter into certain restrictive agreements or engage in certain transactions with affiliates. The Agreements also contain covenants that require us to maintain a maximum quarterly cash flow leverage ratio and a minimum quarterly interest coverage ratio. The Agreements contain customary default provisions including, but not limited to, failure to pay interest or principal when due and failure to comply with covenants.

Canada Revolving Demand Facility

We have $4 million in a revolving demand facility available to our Canada operations. There were no borrowings outstanding under the facility at February 1, 2014, or February 2, 2013. There is no set expiration date for the facility. All borrowings under the facility are made available at the sole discretion of the lender and are payable on demand. Borrowings under the facility bear interest at rates specified in the credit agreement for the facility. Borrowings are secured by a guarantee of Best Buy Co., Inc.

China Revolving Demand Facilities

We have $158 million in revolving demand facilities available to our China operations, of which no borrowings were outstanding at February 1, 2014, or February 2, 2013. The facilities are renewed annually with the respective banks. All borrowings under these facilities bear interest at rates specified in the related credit agreements, are made available at the sole discretion of the respective lenders and are payable on demand. Certain of these facilities are secured by a guarantee of Best Buy Co., Inc.
Long-Term Debt
 
Long-term debt consisted of the following ($ in millions):
 
February 1, 2014
 
February 2, 2013
2013 Notes
$
—

 
$
500

2016 Notes
349

 
349

2018 Notes
500

 
—

2021 Notes
649

 
648

Financing lease obligations, due 2015 to 2026, interest rates ranging from 3.0% to 8.1%
95

 
122

Capital lease obligations, due 2015 to 2036, interest rates ranging from 1.9% to 9.3%
63

 
80

Other debt, due 2017, interest rate 6.7%
1

 
1

Total long-term debt
1,657

 
1,700

Less: current portion(1)
(45
)
 
(547
)
Total long-term debt, less current portion
$
1,612

 
$
1,153

(1)
Our 2013 Notes due July 15, 2013, which we retired on July 15, 2013, are classified in the current portion of long-term debt as of February 2, 2013.

2013 Notes
 
We retired our $500 million principal amount of notes plus accrued interest when they matured on July 15, 2013, using available cash.
 
2018 Notes
 
On July 16, 2013, we completed the sale of $500 million principal amount of notes due August 1, 2018 (the “2018 Notes”). The 2018 Notes bear interest at a fixed rate of 5.00% per year, payable semi-annually on February 1 and August 1 of each year, beginning on February 1, 2014. Net proceeds from the sale of the 2018 Notes were $495 million, after underwriting and issue discounts totaling $5 million.
 
We may redeem some or all of the 2018 Notes at any time, at a redemption price equal to the greater of (1) 100% of the principal amount of the 2018 Notes to be redeemed and (2) the sum of the present values of each remaining scheduled payment of principal and interest on the 2018 Notes to be redeemed discounted to the redemption date on a semi-annual basis at the Treasury Rate plus 50 basis points. Furthermore, if a change of control triggering event occurs, we will be required to offer to purchase the remaining unredeemed 2018 Notes at a price equal to 101% of their principal amount, plus accrued and unpaid interest to the purchase date.
 
The 2018 Notes are unsecured and unsubordinated obligations and rank equally with all of our other unsecured and unsubordinated debt. The 2018 Notes contain covenants that, among other things, limit our ability and the ability of our subsidiaries to incur debt secured by liens and enter into sale and lease-back transactions.
 
2016 and 2021 Notes
 
In March 2011, we issued $350 million principal amount of notes due March 15, 2016 (the “2016 Notes”) and $650 million principal amount of notes due March 15, 2021 (the “2021 Notes” and, together with the 2016 Notes, the “Notes”). The 2016 Notes bear interest at a fixed rate of 3.75% per year, while the 2021 Notes bear interest at a fixed rate of 5.50% per year. Interest on the Notes is payable semi-annually on March 15 and September 15 of each year, beginning on September 15, 2011. The Notes were issued at a slight discount to par, which when coupled with underwriting discounts of $6 million, resulted in net proceeds from the sale of the Notes of $990 million.
 
We may redeem some or all of the Notes at any time at a redemption price equal to the greater of (i) 100% of the principal amount and (ii) the sum of the present values of each remaining scheduled payment of principal and interest discounted to the redemption date on a semiannual basis, plus accrued and unpaid interest on the principal amount to the redemption date as described in the indenture (including the supplemental indenture) relating to the Notes. Furthermore, if a change of control triggering event occurs, we will be required to offer to purchase the remaining unredeemed Notes at a price equal to 101% of their principal amount, plus accrued and unpaid interest to the purchase date.
The Notes are unsecured and unsubordinated obligations and rank equally with all of our other unsecured and unsubordinated debt. The Notes contain covenants that, among other things, limit our ability to incur debt secured by liens or to enter into sale and lease-back transactions.
 
Other
 
The fair value of long-term debt approximated $1,690 million and $1,652 million at February 1, 2014, and February 2, 2013, respectively, based primarily on the ask prices quoted from external sources, compared to carrying values of $1,657 million and $1,700 million, respectively. If our long-term debt was recorded at fair value, it would be classified as Level 1.
 
At February 1, 2014, the future maturities of long-term debt, including capitalized leases, consisted of the following ($ in millions):
Fiscal Year
 
 
2015
 
$
45

2016
 
38

2017
 
372

2018
 
16

2019
 
509

Thereafter
 
677

Total long-term debt
 
$
1,657

Shareholders' Equity
Shareholders Equity Including Stock Compensation Plans, Earnings Per Share, Repurchase of Common Stock, Comprehensive Income
Shareholders' Equity

Stock Compensation Plans

Our 2004 Omnibus Stock and Incentive Plan, as amended (the "Omnibus Plan"), authorizes us to grant or issue non-qualified stock options, incentive stock options, share awards and other equity awards up to a total of 64.5 million shares with a limit of 26.3 million shares of restricted stock awards, restricted stock units, dividend equivalents settled in shares and other stock grants. We have not granted incentive stock options under the Omnibus Plan. Under the terms of the Omnibus Plan, awards may be granted to our employees, officers, advisors, consultants and directors. Awards issued under the Omnibus Plan vest as determined by the Compensation and Human Resources Committee of our Board of Directors at the time of grant. At February 1, 2014, a total of 19.1 million shares in total, and10.0 million shares of restricted stock awards, restricted stock units, dividend equivalents settled in shares and other stock grants were available for future grants under the Omnibus Plan.

Upon adoption and approval of the Omnibus Plan, all of our previous equity incentive compensation plans were terminated. However, existing awards under those plans continued to vest in accordance with the original vesting schedule and will expire at the end of their original term.

Our outstanding stock options have a 10-year term. Outstanding stock options issued to employees generally vest over a three or four-year period, and outstanding stock options issued to directors vest immediately upon grant. Share awards vest based either upon attainment of specified goals or upon continued employment. Outstanding share awards that are not time-based vest at the end of a three-year incentive period based upon our total shareholder return ("TSR") compared to the TSR of companies that comprise Standard & Poor's 500 Index ("market-based"). We have time-based share awards that vest in their entirety at the end of three- and four-year periods, time-based share awards where 25% of the award vests on the date of grant and 25% vests on each of the three anniversary dates thereafter, and time-based share awards to directors vest one year from the grant date.

During fiscal 2014, our Employee Stock Purchase Plan was amended. The Plan permits employees to purchase our common stock at a 5% discount from the market price at the end of semi-annual purchase periods and is non-compensatory. During fiscal 2013 (11-month) and 2012, the Plan permitted our employees to purchase our common stock at a 15% discount from the market price of the stock at the beginning or at the end of a semi-annual purchase period, whichever is less, and was considered compensatory. Employees are required to hold the common stock purchased for 12 months. In fiscal 2014, 2013 (11-month) and 2012, 0.6 million, 1.0 million and 1.4 million shares, respectively, were purchased through our employee stock purchase plans. At February 1, 2014, and February 2, 2013, plan participants had accumulated $2 million and $4 million, respectively, to purchase our common stock pursuant to these plans.

Stock-based compensation expense was as follows in fiscal 2014, 2013 (11-month) and 2012 ($ in millions):
 
12-Month
 
11-Month
 
12-Month
 
2014
 
2013
 
2012
Stock options
$
25

 
$
43

 
$
76

Share awards
 
 
 
 
 
Market-based
9

 
2

 
—

Time-based
62

 
62

 
33

Employee stock purchase plans
1

 
5

 
11

Total
$
97

 
$
112

 
$
120


 
Stock Options
 
Stock option activity was as follows in fiscal 2014:
 
Stock
Options
 
Weighted-
Average
Exercise Price
per Share
 
Weighted-Average
Remaining
Contractual
Term (in years)
 
Aggregate
Intrinsic Value (in millions)
Outstanding at February 2, 2013
29,983,000

 
$
36.93

 
 
 
 

Granted
2,741,000

 
$
22.53

 
 
 
 

Exercised
(5,169,000
)
 
$
31.21

 
 
 
 

Forfeited/Canceled
(5,454,000
)
 
$
37.36

 
 
 
 

Outstanding at February 1, 2014
22,101,000

 
$
36.38

 
5.4
 
$
16

Vested or expected to vest at February 1, 2014
21,597,000

 
$
36.68

 
5.3
 
$
16

Exercisable at February 1, 2014
16,926,000

 
$
40.11

 
4.4
 
$
5


 
The weighted-average grant-date fair value of stock options granted during fiscal 2014, 2013 (11-month) and 2012 was $7.77, $5.11 and $7.94, respectively, per share. The aggregate intrinsic value of our stock options (the amount by which the market price of the stock on the date of exercise exceeded the exercise price of the option) exercised during fiscal 2014, 2013 (11-month) and 2012, was $39 million, $0 million and $6 million, respectively. At February 1, 2014, there was $29 million of unrecognized compensation expense related to stock options that is expected to be recognized over a weighted-average period of 1.2 years.
 
Net cash proceeds from the exercise of stock options were $158 million, $1 million and $27 million in fiscal 2014, 2013 (11-month) and 2012, respectively.

There was $13 million of income tax benefits realized from stock option exercises in fiscal 2014. The actual income tax benefit realized from stock option exercises was $0 million and $2 million, in fiscal 2013 (11-month) and 2012, respectively.

In fiscal 2014, 2013 (11-month) and 2012, we estimated the fair value of each stock option on the date of grant using a lattice or Black Scholes valuation model (for certain individuals) with the following assumptions:
 
 
12-Month
 
11-Month
 
12-Month
Valuation Assumptions(1)
 
2014
 
2013
 
2012
Risk-free interest rate(2)
 
0.1% – 1.8%

 
0.1% – 2.0%

 
0.1% – 3.6%

Expected dividend yield
 
2.0
%
 
2.2
%
 
2.3
%
Expected stock price volatility(3)
 
46
%
 
44
%
 
37
%
Expected life of stock options (in years)(4)
 
5.9

 
5.9

 
6.2


(1)
Forfeitures are estimated using historical experience and projected employee turnover.
(2)
Based on the U.S. Treasury constant maturity interest rate whose term is consistent with the expected life of our stock options.
(3)
In projecting expected stock price volatility, we consider both the historical volatility of our stock price as well as implied volatilities from exchange-traded options on our stock.
(4)
We estimate the expected life of stock options based upon historical experience.
Market-Based Share Awards

The fair value of market-based share awards is determined based on generally accepted valuation techniques and the closing market price of our stock on the date of grant. A summary of the status of our nonvested market-based share awards at February 1, 2014, and changes during fiscal 2014, is as follows:
Market-Based Share Awards
 
Shares
 
Weighted-Average Fair Value per Share
Outstanding at February 2, 2013
 
805,000

 
$
16.76

Granted
 
1,044,000

 
$
24.26

Vested
 
(20,000
)
 
$
19.89

Forfeited/Canceled
 
(193,000
)
 
$
21.82

Outstanding at February 1, 2014
 
1,636,000

 
$
20.91



At February 1, 2014, there was $21 million of unrecognized compensation expense related to nonvested market-based share awards that we expect to recognize over a weighted-average period of 2.0 years.

Time-Based Share Awards

The fair value of time-based share awards is determined based on the closing market price of our stock on the date of grant. This value is reduced by the present value of expected dividends during vesting when the employee is not entitled to dividends.

A summary of the status of our nonvested time-based share awards at February 1, 2014, and changes during fiscal 2014, is as follows:
Time-Based Share Awards
 
Shares
 
Weighted-Average Fair Value per Share
Outstanding at February 2, 2013
 
7,751,000

 
$
21.05

Granted
 
3,433,000

 
$
22.99

Vested
 
(2,642,000
)
 
$
22.06

Forfeited/Canceled
 
(1,477,000
)
 
$
21.61

Outstanding at February 1, 2014
 
7,065,000

 
$
21.49



At February 1, 2014, there was $93 million of unrecognized compensation expense related to nonvested time-based share awards that we expect to recognize over a weighted-average period of 1.8 years.

Earnings per Share

We compute our basic earnings per share based on the weighted-average number of common shares outstanding, and our diluted earnings per share based on the weighted-average number of common shares outstanding adjusted by the number of additional shares that would have been outstanding had the potentially dilutive common shares been issued. Potentially dilutive securities include stock options, nonvested share awards and shares issuable under our employee stock purchase plan, as well as common shares that would have resulted from the assumed conversion of our convertible debentures. During the fourth quarter of fiscal 2012, we repurchased and redeemed all of the remaining outstanding convertible debentures. Since the potentially dilutive shares related to the convertible debentures are included in the computation, the related interest expense, net of tax, is added back to net earnings, as the interest would not have been paid if the convertible debentures had been converted to common stock. Nonvested market-based share awards and nonvested performance-based share awards are included in the average diluted shares outstanding each period if established market or performance criteria have been met at the end of the respective periods.

At February 1, 2014, options to purchase 22.1 million shares of common stock were outstanding as follows (shares in millions):
 
Exercisable
 
Unexercisable
 
Total
 
Shares
 
%
 
Weighted-
Average Price
per Share
 
Shares
 
%
 
Weighted-
Average Price
per Share
 
Shares
 
%
 
Weighted-
Average Price
per Share
In-the-money
2.6

 
15
%
 
$
23.84

 
4.3

 
83
%
 
$
21.45

 
6.9

 
31
%
 
$
22.36

Out-of-the-money
14.3

 
85
%
 
$
43.14

 
0.9

 
17
%
 
$
36.91

 
15.2

 
69
%
 
$
42.77

Total
16.9

 
100
%
 
$
40.11

 
5.2

 
100
%
 
$
24.16

 
22.1

 
100
%
 
$
36.38



The computation of dilutive shares outstanding excludes the out-of-the-money stock options because such outstanding options' exercise prices were greater than the average market price of our common shares and, therefore, the effect would be anti-dilutive (i.e., including such options would result in higher earnings per share).

The following table presents a reconciliation of the numerators and denominators of basic and diluted earnings per share in fiscal 2014, 2013 (11-month) and 2012:
 
12-Month
 
11-Month
 
12-Month
 
2014
 
2013(1)
 
2012
Numerator (in millions):
 
 
 
 
 
Net earnings (loss) from continuing operations
$
689

 
$
(467
)
 
$
1,424

Net earnings from continuing operations attributable to noncontrolling interests
(2
)
 
(2
)
 
(3
)
Net earnings (loss) from continuing operations attributable to Best Buy Co., Inc., shareholders, basic
687

 
(469
)
 
1,421

Adjustment for assumed dilution:
 
 
 
 
 
Interest on convertible debentures due in 2022, net of tax
—

 
—

 
5

Net earnings (loss) from continuing operations attributable to Best Buy Co., Inc., shareholders, diluted
$
687

 
$
(469
)
 
$
1,426

Denominator (in millions):
 
 
 
 
 
Weighted-average common shares outstanding
342.1

 
338.6

 
366.3

Effect of potentially dilutive securities:
 
 
 
 
 
Shares from assumed conversion of convertible debentures
—

 
—

 
7.6

Stock options and other
5.5

 
—

 
0.6

Weighted-average common shares outstanding, assuming dilution
347.6

 
338.6

 
374.5

Net earnings (loss) per share from continuing operations attributable to Best Buy Co., Inc. shareholders
 
 
 
 
 
Basic
$
2.01

 
$
(1.38
)
 
$
3.88

Diluted
$
1.98

 
$
(1.38
)
 
$
3.81

(1)
The calculation of diluted loss per share for fiscal 2013 (11-month) does not include potentially dilutive securities because their inclusion would be anti-dilutive (i.e., reduce the net loss per share).

Repurchase of Common Stock
 
In June 2011, our Board of Directors authorized a $5.0 billion share repurchase program. The June 2011 program replaced our prior $5.5 billion share repurchase program authorized in June 2007. There is no expiration date governing the period over which we can repurchase shares under the June 2011 share repurchase program.
 
The following table presents the amount and cost of shares we repurchased and retired in fiscal 2014, 2013 (11-month) and 2012 under the June 2011 program and the June 2007 program ($ and shares in millions):
 
12-Month
 
11-Month
 
12-Month
 
2014
 
2013
 
2012
June 2011 Program
 
 
 
 
 
Total number of shares repurchased
—

 
6.3

 
34.5

Total cost of shares repurchased
$
—

 
$
122

 
$
889

June 2007 Program
 
 
 
 
 
Total number of shares repurchased
—

 
—

 
20.1

Total cost of shares repurchased
$
—

 
$
—

 
$
611


 
At February 1, 2014, $4.0 billion remained available for additional purchases under the June 2011 share repurchase program. Repurchased shares have been retired and constitute authorized but unissued shares.
 
Comprehensive Income (Loss)
 
Comprehensive income (loss) is computed as net earnings (loss) plus certain other items that are recorded directly to shareholders' equity. In addition to net earnings (loss), the significant components of comprehensive income (loss) include foreign currency translation adjustments and unrealized gains and losses, net of tax, on available-for-sale marketable equity securities. Foreign currency translation adjustments do not include a provision for income tax expense when earnings from foreign operations are considered to be indefinitely reinvested outside the U.S.

The following table provides a reconciliation of the components of accumulated other comprehensive income, net of tax, attributable to Best Buy Co., Inc. shareholders for fiscal 2014, 2013 (11-month) and 2012, respectively ($ in millions):
 
Foreign Currency Translation
 
Available-For-Sale Investments
 
Total
Balances at February 26, 2011
$
102

 
$
71

 
$
173

Foreign currency translation adjustments
(9
)
 
—

 
(9
)
Unrealized losses on available-for-sale investments
—

 
(26
)
 
(26
)
Reclassification of gains on available-for-sale investments into earnings
—

 
(48
)
 
(48
)
Balances at March 3, 2012
93

 
(3
)
 
90

Adjustment for fiscal year-end change
11

 
—

 
11

Balances at January 28, 2012
104

 
(3
)
 
101

Foreign currency translation adjustments
9

 
—

 
9

Unrealized gains on available-for-sale investments
—

 
2

 
2

Balances at February 2, 2013
113

 
(1
)
 
112

Foreign currency translation adjustments
(136
)
 
—

 
(136
)
Unrealized gains on available-for-sale investments
—

 
7

 
7

Reclassification of foreign currency translation adjustments into earnings due to sale of business
508

 
—

 
508

Reclassification of losses on available-for-sale investments into earnings
—

 
1

 
1

Balances at February 1, 2014
$
485

 
$
7

 
$
492


 
There is no tax impact related to foreign currency translation adjustments, as the earnings are considered permanently reinvested.
Leases
Leases
Leases

The composition of net rent expense for all operating leases, including leases of property and equipment, was as follows in fiscal 2014, 2013 (11-month) and 2012 ($ in millions):
 
12-Month
 
11-Month
 
12-Month
 
2014
 
2013
 
2012
Minimum rentals
$
951

 
$
890

 
$
980

Contingent rentals
2

 
1

 
2

Total rent expense
953

 
891

 
982

Less: sublease income
(18
)
 
(16
)
 
(18
)
Net rent expense
$
935

 
$
875

 
$
964



The future minimum lease payments under our capital, financing and operating leases by fiscal year (not including contingent rentals) at February 1, 2014, were as follows ($ in millions):
Fiscal Year
 
Capital
Leases
 
Financing
Leases
 
Operating
Leases(1)
2015
 
$
26

 
$
27

 
$
1,027

2016
 
18

 
25

 
931

2017
 
8

 
19

 
807

2018
 
3

 
15

 
656

2019
 
2

 
9

 
496

Thereafter
 
17

 
17

 
1,116

Subtotal
 
74

 
112

 
$
5,033

Less: imputed interest
 
(11
)
 
(17
)
 
 

Present value
 
$
63

 
$
95

 
 


(1)
Operating lease obligations do not include payments to landlords covering real estate taxes and common area maintenance. These charges, if included, would increase total operating lease obligations by $1.5 billion at February 1, 2014.

Total minimum lease payments have not been reduced by minimum sublease rent income of approximately $160 million due under future noncancelable subleases.
Benefit Plans
Benefit Plans
Benefit Plans

We sponsor retirement savings plans for employees meeting certain eligibility requirements. Participants may choose from various investment options including a fund comprised of our company stock. Participants can contribute up to 50% of their eligible compensation annually as defined by the plan document, subject to Internal Revenue Service ("IRS") limitations. We match 100% of the first 3% of participating employees' contributions and 50% of the next 2%. Employer contributions vest immediately. The total employer contributions were $65 million, $62 million and $69 million in fiscal 2014, 2013 (11-month) and 2012, respectively.

We have a non-qualified, unfunded deferred compensation plan for highly compensated employees and members of our Board of Directors. Amounts contributed and deferred under our deferred compensation plan are credited or charged with the performance of investment options offered under the plan and elected by the participants. In the event of bankruptcy, the assets of the plan are available to satisfy the claims of general creditors. The liability for compensation deferred under the plan was $54 million and $58 million at February 1, 2014, and February 2, 2013, respectively, and is included in long-term liabilities. We manage the risk of changes in the fair value of the liability for deferred compensation by electing to match our liability under the plan with investment vehicles that offset a substantial portion of our exposure. The cash value of the investment vehicles, which includes funding for future deferrals, was $96 million and $88 million at February 1, 2014, and February 2, 2013, respectively, and is included in other assets. Both the asset and the liability are carried at fair value.
Income Taxes
Income Taxes
Income Taxes

The following is a reconciliation of the federal statutory income tax rate to income tax expense in fiscal 2014, 2013 (11-month) and 2012 ($ in millions):
 
12-Month
 
11-Month
 
12-Month
 
2014
 
2013
 
2012
Federal income tax at the statutory rate
$
380

 
$
(70
)
 
$
758

State income taxes, net of federal benefit
25

 
(2
)
 
47

(Benefit) expense from foreign operations
(13
)
 
49

 
(63
)
Other
6

 
5

 
—

Goodwill impairments (non-deductible)
—

 
287

 
—

Income tax expense
$
398

 
$
269

 
$
742

Effective income tax rate
36.7
%
 
(135.8
)%
 
34.3
%

Earnings (loss) from continuing operations before income tax expense and equity in income (loss) of affiliates by jurisdiction was as follows in fiscal 2014, 2013 (11-month) and 2012 ($ in millions):
 
12-Month
 
11-Month
 
12-Month
 
2014
 
2013
 
2012
United States
$
687

 
$
279

 
$
1,644

Outside the United States
400

 
(477
)
 
522

Earnings (loss) from continuing operations before income tax expense and equity in income (loss) of affiliates
$
1,087

 
$
(198
)
 
$
2,166



Income tax expense was comprised of the following in fiscal 2014, 2013 (11-month) and 2012 ($ in millions):
 
12-Month
 
11-Month
 
12-Month
 
2014
 
2013
 
2012
Current:
 
 
 
 
 
Federal
$
306

 
$
204

 
$
520

State
45

 
(1
)
 
61

Foreign
64

 
66

 
72

 
415

 
269

 
653

Deferred:
 
 
 
 
 
Federal
(21
)
 
26

 
86

State
1

 
(3
)
 
11

Foreign
3

 
(23
)
 
(8
)
 
(17
)
 
—

 
89

Income tax expense
$
398

 
$
269

 
$
742



Deferred taxes are the result of differences between the bases of assets and liabilities for financial reporting and income tax purposes. Deferred tax assets and liabilities were comprised of the following ($ in millions):
 
February 1, 2014
 
February 2, 2013
Accrued property expenses
$
162

 
$
194

Other accrued expenses
133

 
119

Deferred revenue
81

 
153

Compensation and benefits
114

 
95

Stock-based compensation
110

 
137

Loss and credit carryforwards
176

 
266

Other
103

 
125

Total deferred tax assets
879

 
1,089

Valuation allowance
(158
)
 
(228
)
Total deferred tax assets after valuation allowance
721

 
861

Property and equipment
(286
)
 
(343
)
Goodwill and intangibles
(75
)
 
(127
)
Inventory
(60
)
 
(90
)
Other
(16
)
 
(22
)
Total deferred tax liabilities
(437
)
 
(582
)
Net deferred tax assets
$
284

 
$
279



Deferred tax assets and liabilities included in our Consolidated Balance Sheets were as follows ($ in millions):
 
February 1, 2014
 
February 2, 2013
Other current assets
$
261

 
$
228

Other assets
44

 
66

Other current liabilities
—

 
(5
)
Other long-term liabilities
(21
)
 
(10
)
Net deferred tax assets
$
284

 
$
279



At February 1, 2014, we had total net operating loss carryforwards from international operations of $125 million, of which $117 million will expire in various years through 2024 and the remaining amounts have no expiration. Additionally, we had acquired U.S. federal net operating loss carryforwards of $23 million which expire between 2023 and 2030, U.S. federal foreign tax credit carryforwards of $12 million which expire between 2022 and 2023, state credit carryforwards of $12 million which expire in 2023, and state capital loss carryforwards of $4 million which expire in 2019.

At February 1, 2014, a valuation allowance of $158 million had been established, of which $11 million is against U.S. federal foreign tax credit carryforwards, $13 million is against U.S. federal and state capital loss carryforwards, $3 million is against state credit carryforwards, and $131 million is against certain international net operating loss carryforwards and other international deferred tax assets. The $70 million decrease from February 2, 2013, is primarily due to the decrease in the valuation allowance against the U.S. federal foreign tax credit carryforward and international net operating loss carryforwards, partially offset by the increase in valuation allowances against federal and state capital loss carryforwards and state credit carryforwards.

We have not provided deferred taxes on unremitted earnings attributable to foreign operations that have been considered to be reinvested indefinitely. These earnings relate to ongoing operations and were $1.4 billion at February 1, 2014. It is not practicable to determine the income tax liability that would be payable if such earnings were not indefinitely reinvested.

The following table provides a reconciliation of changes in unrecognized tax benefits for fiscal 2014, 2013 (11-month) and 2012 ($ in millions):
 
12-Month
 
11-Month
 
12-Month
 
2014
 
2013
 
2012
Balance at beginning of period
$
383

 
$
387

 
$
359

Gross increases related to prior period tax positions
38

 
10

 
69

Gross decreases related to prior period tax positions
(67
)
 
(22
)
 
(35
)
Gross increases related to current period tax positions
34

 
37

 
43

Settlements with taxing authorities
(3
)
 
(10
)
 
(20
)
Lapse of statute of limitations
(15
)
 
(19
)
 
(29
)
Balance at end of period
$
370

 
$
383

 
$
387



Unrecognized tax benefits of $228 million, $231 million and $239 million at February 1, 2014, February 2, 2013, and March 3, 2012, respectively, would favorably impact our effective income tax rate if recognized.

We recognize interest and penalties (not included in the "unrecognized tax benefits" above), as well as interest received from favorable tax settlements, as components of income tax expense. Interest expense of $8 million and penalties expense of $2 million were recognized in fiscal 2014. At February 1, 2014, February 2, 2013, and March 3, 2012, we had accrued interest of $91 million, $85 million and $79 million, respectively, along with accrued penalties of $2 million, $0 million and $0 million at February 1, 2014, February 2, 2013, and March 3, 2012, respectively.

We file a consolidated U.S. federal income tax return, as well as income tax returns in various states and foreign jurisdictions. With few exceptions, we are no longer subject to U.S. federal, state and local, or non-U.S. income tax examinations by tax authorities for years before fiscal 2005.

Because existing tax positions will continue to generate increased liabilities for us for unrecognized tax benefits over the next 12 months, and since we are routinely under audit by various taxing authorities, it is reasonably possible that the amount of unrecognized tax benefits will change during the next 12 months. An estimate of the amount or range of such change cannot be made at this time. However, we do not expect the change, if any, to have a material effect on our consolidated financial condition, results of operations or cash flows within the next 12 months.
Segments and Geographic Information
Segment and Geographic Information
Segment and Geographic Information
 
Segment Information
 
Our chief operating decision maker ("CODM") is our Chief Executive Officer. Our business is organized into two segments: Domestic (which is comprised of all operations within the U.S. and its territories) and International (which is comprised of all operations outside the U.S. and its territories). Our CODM has ultimate responsibility for enterprise decisions. Our CODM determines, in particular, resource allocation for, and monitors performance of, the consolidated enterprise, the Domestic segment and the International segment. The Domestic segment managers and International segment managers have responsibility for operating decisions, allocating resources and assessing performance within their respective segments. Our CODM relies on internal management reporting that analyzes enterprise results to the net earnings level and segment results to the operating income level.
 
We do not aggregate our operating segments, so our operating segments also represent our reportable segments. The accounting policies of the segments are the same as those described in Note 1, Summary of Significant Accounting Policies.
 
The following tables present our business segment information in fiscal 2014, 2013 (11-month) and 2012 ($ in millions):
 
12-Month
 
11-Month
 
12-Month
 
2014
 
2013
 
2012
Revenue
 
 
 
 
 
Domestic
$
35,831

 
$
33,222

 
$
37,596

International
6,579

 
6,605

 
7,861

Total revenue
$
42,410

 
$
39,827

 
$
45,457

Percentage of revenue, by revenue category
 
 
 
 
 
Domestic:
 
 
 
 
 
Consumer Electronics
30
%
 
34
%
 
36
%
Computing and Mobile Phones
48
%
 
44
%
 
40
%
Entertainment
8
%
 
9
%
 
12
%
Appliances
7
%
 
6
%
 
5
%
Services
6
%
 
6
%
 
6
%
Other
1
%
 
1
%
 
1
%
Total
100
%
 
100
%
 
100
%
International:
 
 
 
 
 
Consumer Electronics
28
%
 
31
%
 
34
%
Computing and Mobile Phones
40
%
 
39
%
 
36
%
Entertainment
7
%
 
8
%
 
8
%
Appliances
20
%
 
17
%
 
17
%
Services
5
%
 
5
%
 
5
%
Other
< 1%

 
< 1%

 
< 1%

Total
100
%
 
100
%
 
100
%
Operating income (loss)
 
 
 
 
 
Domestic
$
1,145

 
$
731

 
$
1,964

International(1)
(5
)
 
(850
)
 
236

Total operating income (loss)
1,140

 
(119
)
 
2,200

Other income (expense)
 
 
 
 
 
Gain on sale of investments
20

 
—

 
55

Investment income and other
27

 
20

 
22

Interest expense
(100
)
 
(99
)
 
(111
)
Earnings (loss) from continuing operations before income tax expense and equity in income (loss) of affiliates
$
1,087

 
$
(198
)
 
$
2,166

Assets
 
 
 
 
 
Domestic
$
11,146

 
$
10,874

 
$
9,592

International
2,867

 
5,913

 
6,413

Total assets
$
14,013

 
$
16,787

 
$
16,005

Capital expenditures
 
 
 
 
 
Domestic
$
440

 
$
488

 
$
488

International
107

 
217

 
278

Total capital expenditures
$
547

 
$
705

 
$
766

Depreciation
 
 
 
 
 
Domestic
$
565

 
$
561

 
$
612

International
136

 
233

 
267

Total depreciation
$
701

 
$
794

 
$
879

(1)
Included within our International segment's operating loss for fiscal 2013 (11-month) is a $819 million goodwill impairment charge.
Geographic Information

The following table presents our geographic information in fiscal 2014, 2013 (11-month) and 2012 ($ in millions):
 
12-Month
 
11-Month
 
12-Month
 
2014
 
2013
 
2012
Net sales to customers
 
 
 
 
 
United States
$
35,831

 
$
33,222

 
$
37,596

Canada
4,522

 
4,818

 
5,635

China
1,806

 
1,574

 
2,069

Other
251

 
213

 
157

Total revenue
$
42,410

 
$
39,827

 
$
45,457

Long-lived assets
 
 
 
 
 
United States
$
2,190

 
$
2,404

 
$
2,507

Europe
—

 
352

 
352

Canada
244

 
341

 
432

China
139

 
142

 
161

Other
25

 
31

 
19

Total long-lived assets
$
2,598

 
$
3,270

 
$
3,471

Contingencies and Commitments
Contingencies and Commitments
Contingencies and Commitments

Contingencies

We are involved in a number of legal proceedings. Where appropriate, we have made accruals with respect to these matters, which are reflected in our consolidated financial statements. However, there are cases where liability is not probable or the amount cannot be reasonably estimated and therefore accruals have not been made. We provide disclosure of matters where we believe it is reasonably possible the impact may be material to our consolidated financial statements.

Securities Actions
 
In February 2011, a purported class action lawsuit captioned, IBEW Local 98 Pension Fund, individually and on behalf of all others similarly situated v. Best Buy Co., Inc., et al., was filed against us and certain of our executive officers in the U.S. District Court for the District of Minnesota. This federal court action alleges, among other things, that we and the officers named in the complaint violated Sections 10(b) and 20A of the Exchange Act and Rule 10b-5 under the Exchange Act in connection with press releases and other statements relating to our fiscal 2011 earnings guidance that had been made available to the public. Additionally, in March 2011, a similar purported class action was filed by a single shareholder, Rene LeBlanc, against us and certain of our executive officers in the same court. In July 2011, after consolidation of the IBEW Local 98 Pension Fund and Rene LeBlanc actions, a consolidated complaint captioned, IBEW Local 98 Pension Fund v. Best Buy Co., Inc., et al., was filed and served. We filed a motion to dismiss the consolidated complaint in September 2011, and in March 2012, subsequent to the end of fiscal 2012, the court issued a decision dismissing the action with prejudice. In April 2012, the plaintiffs filed a motion to alter or amend the court's decision on our motion to dismiss. In October 2012, the court granted plaintiff's motion to alter or amend the court's decision on our motion to dismiss in part by vacating such decision and giving plaintiff leave to file an amended complaint, which plaintiff did in October 2012. We filed a motion to dismiss the amended complaint in November 2012 and all responsive pleadings were filed in December 2012. A hearing was held on April 26, 2013. On August 5, 2013, the court issued an order granting our motion to dismiss in part and, contrary to its March 2012 order, denying the motion to dismiss in part, holding that certain of the statements alleged to have been made were not forward-looking statements and therefore were not subject to the “safe-harbor” provisions of the Private Securities Litigation Reform Act (PSLRA). We continue to believe that these allegations are without merit and intend to vigorously defend our company in this matter.
 
In June 2011, a purported shareholder derivative action captioned, Salvatore M. Talluto, Derivatively and on Behalf of Best Buy Co., Inc. v. Richard M. Schulze, et al., as Defendants and Best Buy Co., Inc. as Nominal Defendant, was filed against both present and former members of our Board of Directors serving during the relevant periods in fiscal 2011 and us as a nominal defendant in the U.S. District Court for the State of Minnesota. The lawsuit alleges that the director defendants breached their fiduciary duty, among other claims, including violation of Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, in failing to correct public misrepresentations and material misstatements and/or omissions regarding our fiscal 2011 earnings projections and, for certain directors, selling stock while in possession of material adverse non-public information. Additionally, in July 2011, a similar purported class action was filed by a single shareholder, Daniel Himmel, against us and certain of our executive officers in the same court. In November 2011, the respective lawsuits of Salvatore M. Talluto and Daniel Himmel were consolidated into a new action captioned, In Re: Best Buy Co., Inc. Shareholder Derivative Litigation, and a stay ordered until after a final resolution of the motion to dismiss in the consolidated IBEW Local 98 Pension Fund v. Best Buy Co., Inc., et al. case.

The plaintiffs in the above securities actions seek damages, including interest, equitable relief and reimbursement of the costs and expenses they incurred in the lawsuits. As stated above, we believe the allegations in the above securities actions are without merit, and we intend to defend these actions vigorously. Based on our assessment of the facts underlying the claims in the above securities actions, their respective procedural litigation history, and the degree to which we intend to defend our company in these matters, the amount or range of reasonably possible losses, if any, cannot be estimated.

Trade Secrets Action

In February 2011, a lawsuit captioned Techforward, Inc. v. Best Buy Co., Inc., et. al. was filed against us in the U.S. District Court, Central District of California. The case alleges that we implemented our “Buy Back Plan” in February 2011 using trade secrets misappropriated from plaintiff's buyback plan that were disclosed to us during business relationship discussions and also breached both an agreement for a limited marketing test of plaintiff's buyback plan and a non-disclosure agreement related to the business discussions. In November 2012, a jury found we were unjustly enriched through misappropriation of trade secrets and awarded plaintiff $22 million. The jury also found that although we breached the subject contracts, plaintiff suffered no resulting damage. In December 2012, the court further awarded the plaintiff $5 million in exemplary damages and granted plaintiff's motion for $6 million in attorney fees and costs. We believe that the jury verdict and court awards are inconsistent with the law and the evidence offered at trial or otherwise in error. Accordingly, we appealed the resulting judgment and awards in February 2013 and intend to vigorously contest these decisions.

LCD Action

On October 8, 2010, we filed a lawsuit captioned Best Buy Co., Inc., et al. v. AU Optronics Corp., et al. in the United States District Court for the Northern District of California. We allege that the defendants engaged in price fixing in violation of antitrust regulations and conspired to control the supply of TFT-LCD panels. During the second quarter of fiscal 2014, we entered into binding settlement agreements with multiple defendants. Under the terms of the settlement agreements, we will receive specified payments in accordance with specified schedules, and there are no performance obligations or other contingencies associated with our right to receive the specified payments. Settlement proceeds of $264 million were recognized during the second quarter in cost of goods sold. In addition, associated legal expenses of $35 million were recorded in SG&A. As of February 1, 2014, $176 million of the gross settlement proceeds had been received, with the remaining $88 million recorded as short-term or long-term receivables.

On July 22, 2013, trial commenced against the remaining named defendants. On September 3, 2013, a jury found that HannStar Display, Co. knowingly participated in a conspiracy to fix prices for TFT-LCD panels and found damages in the amount of $7.5 million. In addition, the jury found that Toshiba Corp. did not knowingly participate in the alleged conspiracy. We are considering all options in regard to the verdict, but we currently do not expect to receive amounts in addition to the settlements reached in the current and prior fiscal years.

Other Legal Proceedings
 
We are involved in various other legal proceedings arising in the normal course of conducting business. For such legal proceedings, we have accrued an amount that reflects the aggregate liability deemed probable and estimable, but this amount is not material to our consolidated financial position, results of operations or cash flows. Because of the preliminary nature of many of these proceedings, the difficulty in ascertaining the applicable facts relating to many of these proceedings, the variable treatment of claims made in many of these proceedings and the difficulty of predicting the settlement value of many of these proceedings, we are not able to estimate an amount or range of any reasonably possible additional losses. However, based upon our historical experience, the resolution of these proceedings is not expected to have a material effect on our consolidated financial position, results of operations or cash flows.
Commitments

We engage Accenture LLP ("Accenture") to assist us with improving our operational capabilities and reducing our costs in the information systems and human resources areas. We expect our future contractual obligations to Accenture to range from $21 million to $106 million per year through 2018, the end of the periods under contract.

We had outstanding letters of credit and bankers' acceptances for purchase obligations with an aggregate fair value of $512 million at February 1, 2014.

At February 1, 2014, we did not have any material commitments for the purchase, construction or lease of facilities or future locations.
Supplementary Financial Information
Supplementary Financial Information (Unaudited)
Supplementary Financial Information (Unaudited)

The following tables show selected operating results for each 3-month quarter and full year of fiscal 2014 and 2013 (11-month)(unaudited) ($ in millions):
 
Quarter
 
12-Month
 
1st
 
2nd
 
3rd
 
4th
 
2014
Revenue
$
9,347

 
$
9,266

 
$
9,327

 
$
14,470

 
$
42,410

Comparable store sales % change(1)
(1.4
)%
 
(0.6
)%
 
0.3
%
 
(1.2
)%
 
(0.8
)%
Gross profit
$
2,158

 
$
2,458

 
$
2,157

 
$
2,917

 
$
9,690

Operating income(2)
168

 
413

 
90

 
469

 
1,140

Net earnings from continuing operations
97

 
237

 
44

 
311

 
689

Gain (loss) from discontinued operations, net of tax
(170
)
 
11

 
10

 
(17
)
 
(166
)
Net earnings (loss) including noncontrolling interests
(73
)
 
248

 
54

 
294

 
523

Net earnings (loss) attributable to Best Buy Co., Inc. shareholders
(81
)
 
266

 
54

 
293

 
532

Diluted earnings (loss) per share(3)
 
 
 
 
 
 
 
 
 
Continuing operations
$
0.29

 
$
0.69

 
$
0.12

 
$
0.88

 
$
1.98

Discontinued operations
(0.53
)
 
0.08

 
0.04

 
(0.05
)
 
(0.45
)
Diluted earnings (loss) per share
$
(0.24
)
 
$
0.77

 
$
0.16

 
$
0.83

 
$
1.53


 
Quarter
 
11-Month
 
1st
 
2nd
 
3rd
 
4th
 
2013(4)
Revenue
$
10,343

 
$
9,306

 
$
9,343

 
$
14,921

 
$
39,827

Comparable store sales % decline(1)
(5.2
)%
 
(3.3
)%
 
(5.1
)%
 
(1.4
)%
 
(3.4
)%
Gross profit
$
2,572

 
$
2,249

 
$
2,213

 
$
3,331

 
$
9,298

Operating income (loss)(5)
263

 
87

 
—

 
(181
)
 
(119
)
Net earnings (loss) from continuing operations
169

 
30

 
(9
)
 
(460
)
 
(467
)
Gain (loss) from discontinued operations, net of tax
(17
)
 
(37
)
 
10

 
81

 
47

Net earnings (loss) including noncontrolling interests
152

 
(7
)
 
1

 
(379
)
 
(420
)
Net earnings (loss) attributable to Best Buy Co., Inc. shareholders
158

 
12

 
(10
)
 
(409
)
 
(441
)
Diluted earnings (loss) per share(3)
 
 
 
 
 
 
 
 
 
Continuing operations
$
0.49

 
$
0.09

 
$
(0.03
)
 
$
(1.36
)
 
$
(1.38
)
Discontinued operations
(0.03
)
 
(0.05
)
 
—

 
0.15

 
0.08

Diluted earnings (loss) per share
$
0.46

 
$
0.04

 
$
(0.03
)
 
$
(1.21
)
 
$
(1.30
)
Note: Certain fiscal year totals may not add due to rounding.
(1)
Comprised of revenue from stores operating for at least 14 full months, as well as revenue related to call centers, websites and our other comparable sales channels. Revenue we earn from sales of merchandise to wholesalers or dealers is generally not included within our comparable store sales calculation. Relocated, remodeled and expanded stores are excluded from our comparable store sales calculation until at least 14 full months after reopening. Acquired stores are included in our comparable store sales calculation beginning with the first full quarter following the first anniversary of the date of the acquisition. The portion of our calculation of the comparable store sales percentage change attributable to our International segment excludes the effect of fluctuations in foreign currency exchange rates. The method of calculating comparable store sales varies across the retail industry. As a result, our method of calculating comparable store sales may not be the same as other retailers' methods. The calculation of comparable store sales excludes the impact of the extra week of revenue in the fourth quarter of fiscal 2012, as well as revenue from discontinued operations for all periods presented.
(2)
Includes $6 million, $7 million, $31 million and $115 million of restructuring charges recorded in the fiscal first, second, third and fourth quarters, respectively, and $159 million for the 12 months ended February 1, 2014, related to measures we took to restructure our businesses.
(3)
The sum of our quarterly diluted earnings per share does not equal our annual diluted earnings per share due to the impact of the timing of the repurchases of common stock and stock option exercises on quarterly and annual weighted-average shares outstanding.
(4)
On November 2, 2011, our Board of Directors approved a change to our fiscal year-end from the Saturday nearest the end of February to the Saturday nearest the end of January. In the first quarter of fiscal 2013 (11-month), we began reporting our quarterly results on the basis of our new fiscal year-end. As such, the results for the month of February 2012, which are included in the audited results for fiscal 2012, were also included in the reported first quarter of fiscal 2013 (11-month). However, the results for the month of February 2012 are not included in the results for the full year of fiscal 2013 (11-month). Thus, the four quarters of fiscal year 2013 (11-month) are not additive.
(5)
Includes $127 million, $91 million, $34 million and $169 million of restructuring charges recorded in the fiscal first, second, third and fourth quarters, respectively, and $415 million for the 11 months ended February 2, 2013, related to measures we took to restructure our businesses. Also included in the fourth quarter and 11 months ended February 2, 2013, is a $822 million goodwill impairment charge related to our Canada, Five Star and U.S. reporting units.
Valuation and Qualifying Accounts
Valuation and Qualifying Accounts
Schedule II

Valuation and Qualifying Accounts
($ in millions)
 
Balance at
Beginning
of Period
 
Charged to
Expenses or
Other Accounts
 
Other(1)
 
Balance at
End of
Period
Year ended February 1, 2014
 
 
 
 
 
 
 
Allowance for doubtful accounts
$
92

 
$
76

 
$
(64
)
 
$
104

Year ended February 2, 2013
 
 
 
 
 
 
 
Allowance for doubtful accounts
$
72

 
$
34

 
$
(14
)
 
$
92

Year ended March 3, 2012
 
 
 
 
 
 
 
Allowance for doubtful accounts
$
107

 
$
8

 
$
(43
)
 
$
72

(1)
Includes bad debt write-offs and recoveries, acquisitions and the effect of foreign currency fluctuations.
Summary of Significant Accounting Policies (Policies)
Discontinued Operations 
Discontinued Operations

On June 26, 2013, we sold our 50% ownership interest in Best Buy Europe Distributions Limited (“Best Buy Europe”) to Carphone Warehouse Group plc ("CPW"). On February 1, 2014, we sold mindSHIFT Technologies, Inc. ("mindSHIFT") to Ricoh Americas Holdings, Inc. ("Ricoh"). The results of Best Buy Europe and mindSHIFT for all periods have been presented as discontinued operations. See Note 4, Discontinued Operations, for further information.
Description of Business 
Description of Business

We are a multi-national, multi-channel retailer of technology products, including mobile phones, tablets and computers, large and small appliances, televisions, digital imaging, entertainment products and related accessories. We also offer technology services – including technical support, repair and installation – under the Geek Squad brand. We have two operating segments: Domestic and International. The Domestic segment is comprised of store, online and call center operations in all states, districts and territories of the U.S., operating under the brand names Best Buy, Best Buy Mobile, Geek Squad, Magnolia Audio Video and Pacific Sales. The International segment is comprised of: (i) all Canada store, online and call center operations, operating under the brand names Best Buy, Best Buy Mobile, Cell Shop, Connect Pro, Future Shop and Geek Squad, (ii) all China store and call center operations, operating under the brand names Five Star and Best Buy Mobile, and (iii) all Mexico store operations operating under the brand names Best Buy, Best Buy Express and Geek Squad.

In addition to our retail store operations, we also operate websites including BestBuy.com, BestBuy.ca and FutureShop.ca.
Fiscal Year 
Fiscal Year

On November 2, 2011, our Board of Directors approved a change in our fiscal year-end from the Saturday nearest the end of February to the Saturday nearest the end of January, effective beginning with our fiscal year 2013. As a result of this change, our fiscal year 2013 was an 11-month transition period beginning March 4, 2012, through February 2, 2013. Concurrent with the change, we began consolidating the results of our Europe, China and Mexico operations on a one-month lag, compared to a two-month lag in prior years, to continue aligning the fiscal reporting periods of our international operations with statutory filing requirements. In these consolidated statements, including the notes thereto, financial results for fiscal 2013 are for an 11-month period. Corresponding results for fiscal 2014 and fiscal 2012 are both for 12-month periods. In addition, our Consolidated Statements of Earnings and Consolidated Statements of Cash Flows also include an unaudited 11-month fiscal 2012 (recast). Fiscal 2014 included 52 weeks, fiscal 2013 (11-month) included 48 weeks and fiscal 2012 included 53 weeks.
Basis of Presentation 
Basis of Presentation

The consolidated financial statements include the accounts of Best Buy Co., Inc. and its consolidated subsidiaries. All intercompany balances and transactions are eliminated upon consolidation.

In order to align our fiscal reporting periods and comply with statutory filing requirements, we consolidate the financial results of our Europe, China and Mexico operations on a lag. Due to our fiscal year-end change, this was a one-month lag in fiscal 2014 and 2013 (11-month) and a two-month lag in fiscal 2012. Our policy is to accelerate recording the effect of events occurring in the lag period that significantly affect our consolidated financial statements. In fiscal 2012, we recorded $82 million of restructuring charges recorded in January 2012 related to our large-format Best Buy branded store closures in the United Kingdom ("U.K.") as well as a $1.2 billion goodwill impairment charge attributable to our Best Buy Europe reporting unit. Except for these restructuring activities and the goodwill impairment in fiscal 2012, no significant intervening event occurred in these operations that would have materially affected our financial condition, results of operations, liquidity or other factors had it been recorded during fiscal 2014 or 2013 (11-month). For further information about our restructuring and the nature of the charges we recorded, refer to Note 6, Restructuring Charges. For further information about the goodwill impairment, refer to Goodwill and Intangible Assets below, as well as Note 3, Profit Share Buy-Out.

In preparing the accompanying consolidated financial statements, we evaluated the period from February 2, 2014, through the date the financial statements were issued for material subsequent events requiring recognition or disclosure. No such events were identified for this period.
Use of Estimates in the Preparation of Financial Statements 
Use of Estimates in the Preparation of Financial Statements

The preparation of financial statements in conformity with accounting principles generally accepted in the U.S. ("GAAP") requires us to make estimates and assumptions. These estimates and assumptions affect the reported amounts in the consolidated financial statements, as well as the disclosure of contingent liabilities. Future results could be materially affected if actual results were to differ from these estimates and assumptions.

Cash and Cash Equivalents 
Cash and Cash Equivalents

Cash primarily consists of cash on hand and bank deposits. Cash equivalents consist of money market funds, treasury bills, commercial paper and time deposits such as certificates of deposit with an original maturity of 3 months or less when purchased. The amounts of cash equivalents at February 1, 2014, and February 2, 2013, were $1,705 million and $740 million, respectively, and the weighted-average interest rates were 0.5% and 0.3%, respectively.

Outstanding checks in excess of funds on deposit (book overdrafts) totaled $62 million and $97 million at February 1, 2014, and February 2, 2013, respectively, and are reflected within accounts payable in our Consolidated Balance Sheets.

Receivables 
Receivables

Receivables consist principally of amounts due from mobile phone network operators for commissions earned; banks for customer credit card, certain debit card and electronic benefits transfer (EBT) transactions; and vendors for various vendor funding programs.

We establish allowances for uncollectible receivables based on historical collection trends and write-off history. Our allowances for uncollectible receivables were $104 million and $92 million at February 1, 2014, and February 2, 2013, respectively.

Merchandise Inventories 
Merchandise Inventories

Merchandise inventories are recorded at the lower of cost, using either the average cost or first-in first-out method, or market. In-bound freight-related costs from our vendors are included as part of the net cost of merchandise inventories. Also included in the cost of inventory are certain vendor allowances that are not a reimbursement of specific, incremental and identifiable costs to promote a vendor's products. Other costs associated with acquiring, storing and transporting merchandise inventories to our retail stores are expensed as incurred and included in cost of goods sold.

Our inventory valuation reflects adjustments for anticipated physical inventory losses (e.g., theft) that have occurred since the last physical inventory. Physical inventory counts are taken on a regular basis to ensure that the inventory reported in our consolidated financial statements is properly stated.

Our inventory valuation also reflects markdowns for the excess of the cost over the amount we expect to realize from the ultimate sale or other disposal of the inventory. Markdowns establish a new cost basis for our inventory. Subsequent changes in facts or circumstances do not result in the reversal of previously recorded markdowns or an increase in the newly established cost basis.

Restricted Assets 
Restricted Assets

Restricted cash and investments in debt securities totaled $310 million and $366 million at February 1, 2014, and February 2, 2013, respectively, and are included in other current assets or other assets in our Consolidated Balance Sheets. Such balances are pledged as collateral or restricted to use for vendor payables, general liability insurance, workers' compensation insurance and insurance business regulatory reserve requirements.

Derivative Instruments 
Derivative Instruments

We use foreign currency forward contracts to manage the impact of fluctuations in foreign currency exchange rates relative to recognized receivable and payable balances denominated in non-functional currencies, and on certain forecast inventory purchases denominated in non-functional currencies. The contracts generally have terms of up to 12 months. These derivative instruments are not designated in hedging relationships and, therefore, we record gains and losses on these contracts directly to net earnings. At February 1, 2014, and February 2, 2013, the notional amount of these instruments was $157 million and $173 million, respectively. We recognized a gain of $5 million and $2 million in selling, general and administrative expenses ("SG&A") on our Consolidated Statements of Earnings during fiscal 2014 and 2013 (11-month), respectively, related to these instruments.
 
In conjunction with our agreement to sell our 50% ownership interest in Best Buy Europe as described in Note 4, Discontinued Operations, we entered into a deal-contingent foreign currency forward contract to hedge £455 million of the total £471 million of net proceeds. The contract was settled in cash following the completion of the sale on June 26, 2013, and we recognized a $2 million loss in gain (loss) from discontinued operations on our Consolidated Statements of Earnings in fiscal 2014.

Property and Equipment 
Property and Equipment

Property and equipment are recorded at cost. We compute depreciation using the straight-line method over the estimated useful lives of the assets. Leasehold improvements are depreciated over the shorter of their estimated useful lives or the period from the date the assets are placed in service to the end of the lease term, which includes optional renewal periods if they are reasonably assured. Accelerated depreciation methods are generally used for income tax purposes.

When property is retired or otherwise disposed of, the cost and accumulated depreciation are removed from our Consolidated Balance Sheets and any resulting gain or loss is reflected in our Consolidated Statements of Earnings.

Repairs and maintenance costs are charged directly to expense as incurred. Major renewals or replacements that substantially extend the useful life of an asset are capitalized and depreciated.

Costs associated with the acquisition or development of software for internal use are capitalized and amortized over the expected useful life of the software, from three to seven years. A subsequent addition, modification or upgrade to internal-use software is capitalized to the extent that it enhances the software's functionality or extends its useful life. Capitalized software is included in fixtures and equipment. Software maintenance and training costs are expensed in the period incurred.

Property under capital lease is comprised of buildings and equipment used in our operations. The related depreciation for capital lease assets is included in depreciation expense. The carrying value of property under capital lease was $58 million and $70 million at February 1, 2014, and February 2, 2013, respectively, net of accumulated depreciation of $62 million and $43 million, respectively.

Estimated useful lives by major asset category are as follows:
Asset
 
Life
(in years)
Buildings
 
25-50
Leasehold improvements
 
3-25
Fixtures and equipment
 
3-20
Property under capital lease
 
2-20
Impairment of Long-Lived Assets and Costs Associated with Exit Activities 
Impairment of Long-Lived Assets and Costs Associated With Exit Activities

Long-lived assets are evaluated for impairment whenever events or changes in circumstances indicate the carrying value of an asset may not be recoverable. Factors considered important that could result in an impairment review include, but are not limited to, significant underperformance relative to historical or planned operating results, significant changes in the manner of use or expected life of the assets, or significant changes in our business strategies. An impairment loss is recognized when the estimated undiscounted cash flows expected to result from the use of the asset plus net proceeds expected from the disposition of the asset (if any) are less than the carrying value of the asset. When an impairment loss is recognized, the carrying amount of the asset is reduced to its estimated fair value based on quoted market prices or other valuation techniques (e.g., discounted cash flow analysis).

When reviewing long-lived assets for impairment, we group long-lived assets with other assets and liabilities at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. For example, long-lived assets deployed at store locations are reviewed for impairment at the individual store level, which involves comparing the carrying value of all land, buildings, leasehold improvements, fixtures and equipment located at each store to the net cash flow projections for each store. In addition, we conduct separate impairment reviews at other levels as appropriate, for example, to evaluate potential impairment of assets shared by several areas of operations, such as information technology systems.

The present value of costs associated with location closings, primarily future lease costs (net of expected sublease income), are charged to earnings when we have ceased using the specific location. We accelerate depreciation on property and equipment we expect to retire when a decision is made to abandon a location.

At February 1, 2014, and February 2, 2013, the obligation associated with location closings included in accrued liabilities in our Consolidated Balance Sheets was $33 million and $83 million, respectively, and the obligation associated with location closings included in long-term liabilities in our Consolidated Balance Sheets was $86 million and $149 million, respectively. The obligation associated with location closings at February 1, 2014, and February 2, 2013, included amounts associated with our restructuring activities as further described in Note 6, Restructuring Charges.

Leases 
Leases

We conduct the majority of our retail and distribution operations from leased locations. The leases require payment of real estate taxes, insurance and common area maintenance, in addition to rent. The terms of our new lease agreements for large-format stores are generally less than 10 years, although we have existing leases with terms up to 20 years. Small-format stores generally have lease terms that are half the length of large-format stores. Most of the leases contain renewal options and escalation clauses, and certain store leases require contingent rents based on factors such as specified percentages of revenue or the consumer price index.

For leases that contain predetermined fixed escalations of the minimum rent, we recognize the related rent expense on a straight-line basis from the date we take possession of the property to the end of the initial lease term. We record any difference between the straight-line rent amounts and amounts payable under the leases as part of deferred rent, in accrued liabilities or long-term liabilities, as appropriate.

Cash or lease incentives received upon entering into certain store leases ("tenant allowances") are recognized on a straight-line basis as a reduction to rent from the date we take possession of the property through the end of the initial lease term. We record the unamortized portion of tenant allowances as a part of deferred rent, in accrued liabilities or long-term liabilities, as appropriate.

At February 1, 2014, and February 2, 2013, deferred rent included in accrued liabilities in our Consolidated Balance Sheets was $36 million and $50 million, respectively, and deferred rent included in long-term liabilities in our Consolidated Balance Sheets was $232 million and $289 million, respectively.

We also lease certain equipment under noncancelable operating and capital leases. In addition, we have financing leases for which the gross cost of constructing the asset is included in property and equipment, and amounts reimbursed from the landlord are recorded as financing obligations. Assets acquired under capital and financing leases are depreciated over the shorter of the useful life of the asset or the lease term, including renewal periods, if reasonably assured.

Goodwill and Intangible Assets 
Goodwill and Intangible Assets

Goodwill

Goodwill is the excess of the purchase price over the fair value of identifiable net assets acquired in business combinations. We test goodwill for impairment annually, as of the first day of the fiscal fourth quarter, or when indications of potential impairment exist. We monitor the existence of potential impairment indicators throughout the fiscal year. We test for goodwill impairment at the reporting unit level. Our reporting units are the components of operating segments which constitute businesses for which discrete financial information is available and is regularly reviewed by segment management. No components were aggregated in arriving at our reporting units. Our reporting unit with a goodwill balance at the beginning of fiscal 2014 was Best Buy Domestic.

We review goodwill for impairment by first assessing qualitative factors to determine whether it is more likely than not that the fair value of the reporting unit is less than its carrying amount, including goodwill, as a basis for determining whether it is necessary to perform the two-step goodwill impairment test. If it is determined that it is not more likely than not that the fair value of the reporting unit is less than its carrying amount, we conclude that goodwill is not impaired. If it is determined that it is more likely than not that the fair value of the reporting unit is less than its carrying amount, we conduct detailed impairment testing. The first step of the detailed testing involves estimating the fair value of the reporting unit and comparing this to its carrying amount, including goodwill. If the carrying amount of the reporting unit exceeds its fair value, the second step of the two-step goodwill impairment test is required to measure the goodwill impairment loss. The second step includes hypothetically valuing all tangible and intangible assets and liabilities of the reporting unit as if the reporting unit had been acquired in a business combination. Then, the implied fair value of the reporting unit’s goodwill is compared to the carrying amount of that goodwill. If the carrying amount of the reporting unit’s goodwill exceeds the implied fair value of the goodwill, we recognize an impairment loss in an amount equal to the excess, not to exceed the carrying amount. In fiscal 2014, we determined that the fair value of the Best Buy Domestic reporting unit exceeded its carrying value, and as a result, no goodwill impairment was recorded in fiscal 2014.

In fiscal 2013 (11-month), initial goodwill impairment assessments as of November 4, 2012, based on forecasts in place at that time, indicated that fair value exceeded carrying value for each reporting unit. However, operating performance in our Best Buy Canada and Five Star reporting units fell significantly below expectations in the later part of the fiscal fourth quarter. Therefore, we updated our forecasts for Best Buy Canada and Five Star and tested for goodwill impairment as of the end of fiscal 2013 (11-month). The updated forecasts, which were used as the basis for our discounted cash flow ("DCF") valuations for goodwill testing purposes, reflected significantly lower cash flows than previously forecast. Our analysis for step one of detailed impairment testing indicated that carrying values exceeded fair values for both Best Buy Canada and Five Star. Step two entailed allocating the fair values determined from step one to the fair value of all recognized and appropriately unrecognized assets and liabilities to determine the implied fair value of goodwill. In both cases, this analysis led to the conclusion that the goodwill had no value, and therefore we recorded full impairment of the goodwill associated with Best Buy Canada ($611 million) and Five Star ($208 million). The combined goodwill impairment expense of $819 million is included in our International segment.

For the Best Buy Domestic reporting unit, we determined that the fair value of the reporting unit exceeded its carrying value by a substantial margin and there were no events during the fourth quarter of fiscal 2013 (11-month) that would be more likely than not to reduce the fair value of the Domestic reporting unit below its carrying amount.

Refer to Note 3, Profit Share Buy-Out, for further information on the $1.2 billion goodwill impairment attributable to the Best Buy Europe reporting unit recorded in the fourth quarter of fiscal 2012.

Tradenames and Customer Relationships

Beginning in fiscal 2014, we have presented our tradenames and customer relationships within intangibles, net in our Consolidated Balance Sheets. All prior-year periods have been reclassified to conform to the current year presentation.

We have an indefinite-lived tradename related to Pacific Sales included within our Domestic segment. We also have indefinite-lived tradenames related to Future Shop and Five Star included within our International segment.

Our valuation of identifiable intangible assets acquired is based on information and assumptions available to us at the time of acquisition, using income and market approaches to determine fair value. We amortize definite-lived intangible assets over their estimated useful lives. We do not amortize our indefinite-lived tradenames, but test for impairment annually, or when indications of potential impairment exist.

We utilize the relief from royalty method to determine the fair value of each of our indefinite-lived tradenames. If the carrying value exceeds the fair value, we recognize an impairment loss in an amount equal to the excess. No impairments were identified during fiscal 2014.

We previously had definite-lived customer relationships acquired as part of our acquisition of mindSHIFT within our Domestic segment, and Best Buy Europe within our International segment. At February 2, 2013, the gross carrying amount and accumulated amortization of these customer relationships was $475 million and $272 million, respectively, resulting in a net book value of $203 million. These definite-lived intangible assets were written off as a result of the sales of mindSHIFT and Best Buy Europe in fiscal 2014 as described in Note 4, Discontinued Operations.

The changes in the carrying amount of goodwill and indefinite-lived tradenames by segment were as follows in fiscal 2014, 2013 (11-month) and 2012 ($ in millions):
 
Goodwill
 
Indefinite-Lived Tradenames
 
Domestic
 
International
 
Total
 
Domestic
 
International
 
Total
Balances at February 26, 2011
$
422

 
$
2,032

 
$
2,454

 
$
21

 
$
84

 
$
105

Acquisitions(1)
94

 
—

 
94

 
1

 
—

 
1

Impairments(2)
—

 
(1,207
)
 
(1,207
)
 
—

 
—

 
—

Sale of business
—

 
(7
)
 
(7
)
 
(3
)
 
(2
)
 
(5
)
Changes in foreign currency exchange rates
—

 
1

 
1

 
—

 
1

 
1

Other(3)
—

 
—

 
—

 
—

 
28

 
28

Balances at March 3, 2012
516

 
819

 
1,335

 
19

 
111

 
130

Acquisitions(4)
15

 
—

 
15

 
—

 
—

 
—

Impairments
(3
)
 
(819
)
 
(822
)
 
—

 
—

 
—

Changes in foreign currency exchange rates
—

 
—

 
—

 
—

 
1

 
1

Balances at February 2, 2013
528

 
—

 
528

 
19

 
112

 
131

Impairments
—

 
—

 
—

 
—

 
(4
)
 
(4
)
Sale of business(5)
(103
)
 
—

 
(103
)
 
—

 
(22
)
 
(22
)
Changes in foreign currency exchange rates
—

 
—

 
—

 
—

 
(4
)
 
(4
)
Balances at February 1, 2014
$
425

 
$
—

 
$
425

 
$
19

 
$
82

 
$
101


(1)
Represents goodwill acquired, primarily as a result of the mindSHIFT acquisition in fiscal 2012.
(2)
Represents the full impairment of goodwill attributable to Best Buy Europe as described in Note 3, Profit Share Buy-Out. The gross carrying amount of goodwill and cumulative impairment were written off as a result of the sale of Best Buy Europe in fiscal 2014.
(3)
Represents the transfer of certain definite-lived tradenames (at their net book value) to indefinite-lived tradenames following our decision to no longer phase out certain tradenames. We believe these tradenames will continue to contribute to our future cash flows indefinitely.
(4)
Represents goodwill acquired, primarily as a result of an acquisition made by mindSHIFT in fiscal 2013 (11-month).
(5)
Represents goodwill written-off as a result of the sale of mindSHIFT in fiscal 2014 and indefinite-lived tradenames written off as a result of the sale of Best Buy Europe in fiscal 2014.
The following table provides the gross carrying amount of goodwill and cumulative goodwill impairment losses ($ in millions):
 
February 1, 2014
 
February 2, 2013
 
Gross Carrying
Amount(1)
 
Cumulative
Impairment(1)
 
Gross Carrying
Amount
 
Cumulative
Impairment
Goodwill
$
1,308

 
$
(883
)
 
$
2,608

 
$
(2,080
)

(1)
Excludes the gross carrying amount and cumulative impairment related to Best Buy Europe and mindSHIFT, which were sold during fiscal 2014.
Insurance 
Insurance
 
We are self-insured for certain losses related to health, workers' compensation and general liability claims; however, we obtain third-party insurance coverage to limit our exposure to these claims. A portion of these self-insured losses are managed through a wholly-owned insurance captive. We estimate our self-insured liabilities using a number of factors, including historical claims experience, an estimate of incurred but not reported claims, demographic and severity factors, and valuations provided by independent third-party actuaries. Our self-insured liabilities included in the Consolidated Balance Sheets were as follows ($ in millions):
 
February 1, 2014
 
February 2, 2013
Accrued liabilities
$
88

 
$
77

Long-term liabilities
52

 
47

Total
$
140

 
$
124

Income Taxes 

Income Taxes

We account for income taxes using the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, and operating loss and tax credit carryforwards. We record a valuation allowance to reduce the carrying amounts of deferred tax assets if it is more likely than not that such assets will not be realized.

In determining our provision for income taxes, we use an annual effective income tax rate based on annual income, permanent differences between book and tax income, and statutory income tax rates. The effective income tax rate also reflects our assessment of the ultimate outcome of tax audits. We adjust our annual effective income tax rate as additional information on outcomes or events becomes available. Discrete events, such as audit settlements or changes in tax laws, are recognized in the period in which they occur.

Our income tax returns are periodically audited by U.S. federal, state and local and foreign tax authorities. At any one time, multiple tax years are subject to audit by the various tax authorities. In evaluating the tax benefits associated with our various tax filing positions, we record a tax benefit for uncertain tax positions using the highest cumulative tax benefit that is more likely than not to be realized. A number of years may elapse before a particular matter, for which we have established a liability, is audited and effectively settled. We adjust our liability for unrecognized tax benefits in the period in which we determine the issue is effectively settled with the tax authorities, the statute of limitations expires for the relevant taxing authority to examine the tax position or when more information becomes available. We include our liability for unrecognized tax benefits, including accrued penalties and interest, in accrued income taxes and long-term liabilities on our Consolidated Balance Sheets and in income tax expense in our Consolidated Statements of Earnings.

Accrued Liabilities 

Accrued Liabilities

The major components of accrued liabilities at February 1, 2014, and February 2, 2013, were state and local tax liabilities, rent-related liabilities including accrued real estate taxes, loyalty program liabilities and self-insurance reserves.

Long-Term Liabilities 

Long-Term Liabilities

The major components of long-term liabilities at February 1, 2014, and February 2, 2013, were unrecognized tax benefits, rent-related liabilities, deferred compensation plan liabilities, self-insurance reserves and deferred revenue.

Foreign Currency 

Foreign Currency

Foreign currency denominated assets and liabilities are translated into U.S. dollars using the exchange rates in effect at our consolidated balance sheet date. For operations reported on a one-month lag, we use the exchange rates in effect one month prior to our consolidated balance sheet date. Results of operations and cash flows are translated using the average exchange rates throughout the period. The effect of exchange rate fluctuations on the translation of assets and liabilities is included as a component of shareholders' equity in accumulated other comprehensive income. Gains and losses from foreign currency transactions, which are included in SG&A, have not been significant in any of the periods presented.

Revenue Recognition 

Revenue Recognition

Our revenue arises primarily from sales of merchandise and services. We also record revenue from sales of service contracts, extended warranties, other commissions and credit card programs. Revenue excludes sales taxes collected.

We recognize revenue when the sales price is fixed or determinable, collection is reasonably assured and the customer takes possession of the merchandise, or in the case of services, the service has been provided. Revenue is recognized for store sales when the customer receives and pays for the merchandise. For online sales, we defer revenue and the related product costs for shipments that are in-transit to the customer, and recognize revenue at the time the customer receives the product. Online customers typically receive goods within a few days of shipment. Revenue from merchandise sales and services is reported net of sales returns, including an estimate of future returns based on historical return rates, with a corresponding reduction to cost of sales. Our sales returns reserve was $13 million and $14 million at February 1, 2014, and February 2, 2013, respectively.

We sell service contracts and extended warranties that typically have terms ranging from three months to four years. We also receive commissions for customer subscriptions with various third parties, notably from mobile phone network operators. In instances where we are deemed to be the obligor on the service contract or subscription, the service and commission revenue is deferred and recognized ratably over the term of the service contract or subscription period. In instances where we are not deemed to be the obligor on the service contract or subscription, commissions are recognized in revenue when such commissions have been earned, primarily driven by customer activation. Service and commission revenues earned from the sale of extended warranties represented 2.1%, 2.4% and 2.4% of revenue in fiscal 2014, 2013 (11-month) and 2012, respectively.

For revenue transactions that involve multiple deliverables, we defer the revenue associated with any undelivered elements. The amount of revenue deferred in connection with the undelivered elements is determined using the relative fair value of each element, which is generally based on each element's relative retail price.

At February 1, 2014, and February 2, 2013, short-term deferred revenue was $399 million and $451 million, respectively. At February 1, 2014, and February 2, 2013, deferred revenue included within long-term liabilities in our Consolidated Balance Sheets was $50 million and $62 million, respectively.

For additional information related to our credit card arrangements and customer loyalty programs, see Credit Services and Financing and Sales Incentives, respectively, below.

Gift Cards 

Gift Cards

We sell gift cards to our customers in our retail stores, through our websites and through selected third parties. We do not charge administrative fees on unused gift cards and our gift cards do not have an expiration date. We recognize revenue from gift cards when: (i) the gift card is redeemed by the customer, or (ii) the likelihood of the gift card being redeemed by the customer is remote ("gift card breakage"), and we determine that we do not have a legal obligation to remit the value of unredeemed gift cards to the relevant jurisdictions. We determine our gift card breakage rate based upon historical redemption patterns. Based on our historical information, the likelihood of a gift card remaining unredeemed can be determined 24 months after the gift card is issued. At that time, we recognize breakage income for those cards for which the likelihood of redemption is deemed remote and we do not have a legal obligation to remit the value of such unredeemed gift cards to the relevant jurisdictions. Gift card breakage income is included in revenue in our Consolidated Statements of Earnings.

Gift card breakage income was as follows in fiscal 2014, 2013 (11-month) and 2012 ($ in millions):
 
 
12-Month
 
11-Month
 
12-Month
 
 
2014
 
2013
 
2012
Gift card breakage income
 
$
53

 
$
46

 
$
54

Credit Services and Financing 

Credit Services and Financing

In the U.S., we have an agreement with a bank for the issuance of promotional financing and customer loyalty credit cards bearing the Best Buy brand. Under the agreement, the bank manages and directly extends credit to our customers. Cardholders who choose promotional financing can receive deferred-interest financing on qualifying purchases. The bank is the sole owner of the accounts receivable generated under the program and accordingly, we do not hold any consumer receivables related to these programs. We earn revenue from the bank based primarily on the performance of the portfolio.
 
We also have similar agreements for promotional financing and credit cards with banks for our businesses in Canada, China and Mexico, and we account for these programs in a manner consistent with the U.S. agreement.
 
In addition, we also accept Visa®, MasterCard®, Discover®, JCB® and American Express® credit cards, as well as debit cards from all major international networks.

Sales Incentives 
Sales Incentives

We frequently offer sales incentives that entitle our customers to receive a reduction in the price of a product or service. Sales incentives include discounts, coupons and other offers that entitle a customer to receive a reduction in the price of a product or service either at the point of sale or by submitting a claim for a refund or rebate. For sales incentives issued to a customer in conjunction with a sale of merchandise or services for which we are the obligor, the reduction in revenue is recognized at the time of sale, based on the retail value of the incentive expected to be redeemed.
Customer Loyalty Programs
 
We have customer loyalty programs which allow members to earn points for each qualifying purchase. Points earned enable members to receive a certificate that may be redeemed on future purchases at our Best Buy branded stores. There are two primary ways that members may participate and earn loyalty points.
 
First, we have customer loyalty programs where members earn points for each purchase. Depending on the customer's membership level within our loyalty program, certificates expire either 2 or 12 months from the date of issuance. The retail value of points earned by our loyalty program members is included in accrued liabilities and recorded as a reduction of revenue at the time the points are earned, based on the percentage of points that are projected to be redeemed.
 
Second, under our credit card agreement, we have a customer loyalty credit card bearing the Best Buy brand. Cardholders earn points for purchases made at our stores and related websites in the U.S., as well as purchases at other merchants. Points earned entitle cardholders to receive certificates that may be redeemed on future purchases at our stores and related websites. Certificates expire either 2 or 12 months from the date of issuance. The retail value of points earned by our cardholders is included in accrued liabilities and recorded as a reduction of revenue at the time the points are earned, based on the percentage of points that are projected to be redeemed.
 
We recognize revenue when: (i) a certificate is redeemed by the customer; (ii) a certificate expires, or (iii) the likelihood of a certificate being redeemed by a customer is remote ("certificate breakage"). We determine our certificate breakage rate based upon historical redemption patterns.
Cost of Goods Sold 
Cost of Goods Sold and Selling, General and Administrative Expenses
The following table illustrates the primary costs classified in each major expense category:
Cost of Goods Sold
•
 
Total cost of products sold including:
 
 
—
 
Freight expenses associated with moving merchandise inventories from our vendors to our distribution centers;
 
 
—
 
Vendor allowances that are not a reimbursement of specific, incremental and identifiable costs to promote a vendor's products; and
 
 
—
 
Cash discounts on payments to merchandise vendors;
•
 
Cost of services provided including:
 
 
—
 
Payroll and benefits costs for services employees; and
 
 
—
 
Cost of replacement parts and related freight expenses;
•
 
Physical inventory losses;
•
 
Markdowns;
•
 
Customer shipping and handling expenses;
•
 
Costs associated with operating our distribution network, including payroll and benefit costs, occupancy costs, and depreciation; and
•
 
Freight expenses associated with moving merchandise inventories from our distribution centers to our retail stores.
SG&A
•
 
Payroll and benefit costs for retail and corporate employees;
•
 
Occupancy and maintenance costs of retail, services and corporate facilities;
•
 
Depreciation and amortization related to retail, services and corporate assets;
•
 
Advertising costs;
•
 
Vendor allowances that are a reimbursement of specific, incremental and identifiable costs to promote a vendor's products;
•
 
Tender costs, including bank charges and costs associated with credit and debit card interchange fees;
•
 
Charitable contributions;
•
 
Outside and outsourced service fees;
•
 
Long-lived asset impairment charges; and
•
 
Other administrative costs, such as supplies, and travel and lodging.

Selling, General and Administrative Expenses 
Cost of Goods Sold and Selling, General and Administrative Expenses
The following table illustrates the primary costs classified in each major expense category:
Cost of Goods Sold
•
 
Total cost of products sold including:
 
 
—
 
Freight expenses associated with moving merchandise inventories from our vendors to our distribution centers;
 
 
—
 
Vendor allowances that are not a reimbursement of specific, incremental and identifiable costs to promote a vendor's products; and
 
 
—
 
Cash discounts on payments to merchandise vendors;
•
 
Cost of services provided including:
 
 
—
 
Payroll and benefits costs for services employees; and
 
 
—
 
Cost of replacement parts and related freight expenses;
•
 
Physical inventory losses;
•
 
Markdowns;
•
 
Customer shipping and handling expenses;
•
 
Costs associated with operating our distribution network, including payroll and benefit costs, occupancy costs, and depreciation; and
•
 
Freight expenses associated with moving merchandise inventories from our distribution centers to our retail stores.
SG&A
•
 
Payroll and benefit costs for retail and corporate employees;
•
 
Occupancy and maintenance costs of retail, services and corporate facilities;
•
 
Depreciation and amortization related to retail, services and corporate assets;
•
 
Advertising costs;
•
 
Vendor allowances that are a reimbursement of specific, incremental and identifiable costs to promote a vendor's products;
•
 
Tender costs, including bank charges and costs associated with credit and debit card interchange fees;
•
 
Charitable contributions;
•
 
Outside and outsourced service fees;
•
 
Long-lived asset impairment charges; and
•
 
Other administrative costs, such as supplies, and travel and lodging.
Vendor Allowances 
Vendor Allowances
 
We receive allowances from certain vendors through a variety of programs and arrangements intended to offset our costs of promoting and selling merchandise inventories. Vendor allowances are primarily in the form of receipt-based funds or sell-through credits. Receipt-based funds are generally determined at an agreed percentage of purchases and are initially deferred and recorded as a reduction of merchandise inventories. The deferred amounts are then included as a reduction of cost of goods sold when the related product is sold. Sell-through credits are generally determined at an agreed percentage of sales and are recognized when the related product is sold. Vendor allowances provided as a reimbursement of specific, incremental and identifiable costs, such as specialized store labor or training costs, are included in SG&A as an expense reduction when the cost is incurred.
Advertising Costs 
Advertising Costs
 
Advertising costs, which are included in SG&A, are expensed the first time the advertisement runs. Advertising costs consist primarily of print and television advertisements as well as promotional events. Advertising expenses were $775 million, $732 million and $828 million in fiscal 2014, 2013 (11-month) and 2012, respectively.
Stock-Based Compensation 
Stock-Based Compensation
 
We apply the fair value recognition provisions of accounting guidance as they relate to our stock-based compensation, which require us to recognize expense for the fair value of our stock-based compensation awards. We recognize compensation expense on a straight-line basis over the requisite service period of the award (or to an employee's eligible retirement date, if earlier).
Summary of Significant Accounting Policies (Tables)
Schedule of estimated useful lives by major asset category 
Estimated useful lives by major asset category are as follows:
Asset
 
Life
(in years)
Buildings
 
25-50
Leasehold improvements
 
3-25
Fixtures and equipment
 
3-20
Property under capital lease
 
2-20
Schedule of changes in carrying amount of goodwill and indefinite lived tradenames by segment 

The changes in the carrying amount of goodwill and indefinite-lived tradenames by segment were as follows in fiscal 2014, 2013 (11-month) and 2012 ($ in millions):
 
Goodwill
 
Indefinite-Lived Tradenames
 
Domestic
 
International
 
Total
 
Domestic
 
International
 
Total
Balances at February 26, 2011
$
422

 
$
2,032

 
$
2,454

 
$
21

 
$
84

 
$
105

Acquisitions(1)
94

 
—

 
94

 
1

 
—

 
1

Impairments(2)
—

 
(1,207
)
 
(1,207
)
 
—

 
—

 
—

Sale of business
—

 
(7
)
 
(7
)
 
(3
)
 
(2
)
 
(5
)
Changes in foreign currency exchange rates
—

 
1

 
1

 
—

 
1

 
1

Other(3)
—

 
—

 
—

 
—

 
28

 
28

Balances at March 3, 2012
516

 
819

 
1,335

 
19

 
111

 
130

Acquisitions(4)
15

 
—

 
15

 
—

 
—

 
—

Impairments
(3
)
 
(819
)
 
(822
)
 
—

 
—

 
—

Changes in foreign currency exchange rates
—

 
—

 
—

 
—

 
1

 
1

Balances at February 2, 2013
528

 
—

 
528

 
19

 
112

 
131

Impairments
—

 
—

 
—

 
—

 
(4
)
 
(4
)
Sale of business(5)
(103
)
 
—

 
(103
)
 
—

 
(22
)
 
(22
)
Changes in foreign currency exchange rates
—

 
—

 
—

 
—

 
(4
)
 
(4
)
Balances at February 1, 2014
$
425

 
$
—

 
$
425

 
$
19

 
$
82

 
$
101


(1)
Represents goodwill acquired, primarily as a result of the mindSHIFT acquisition in fiscal 2012.
(2)
Represents the full impairment of goodwill attributable to Best Buy Europe as described in Note 3, Profit Share Buy-Out. The gross carrying amount of goodwill and cumulative impairment were written off as a result of the sale of Best Buy Europe in fiscal 2014.
(3)
Represents the transfer of certain definite-lived tradenames (at their net book value) to indefinite-lived tradenames following our decision to no longer phase out certain tradenames. We believe these tradenames will continue to contribute to our future cash flows indefinitely.
(4)
Represents goodwill acquired, primarily as a result of an acquisition made by mindSHIFT in fiscal 2013 (11-month).
(5)
Represents goodwill written-off as a result of the sale of mindSHIFT in fiscal 2014 and indefinite-lived tradenames written off as a result of the sale of Best Buy Europe in fiscal 2014.
Schedule of goodwill 
The following table provides the gross carrying amount of goodwill and cumulative goodwill impairment losses ($ in millions):
 
February 1, 2014
 
February 2, 2013
 
Gross Carrying
Amount(1)
 
Cumulative
Impairment(1)
 
Gross Carrying
Amount
 
Cumulative
Impairment
Goodwill
$
1,308

 
$
(883
)
 
$
2,608

 
$
(2,080
)

(1)
Excludes the gross carrying amount and cumulative impairment related to Best Buy Europe and mindSHIFT, which were sold during fiscal 2014.
Schedule of self insurance liability 
Our self-insured liabilities included in the Consolidated Balance Sheets were as follows ($ in millions):
 
February 1, 2014
 
February 2, 2013
Accrued liabilities
$
88

 
$
77

Long-term liabilities
52

 
47

Total
$
140

 
$
124


Schedule of gift card breakage income 

Gift card breakage income was as follows in fiscal 2014, 2013 (11-month) and 2012 ($ in millions):
 
 
12-Month
 
11-Month
 
12-Month
 
 
2014
 
2013
 
2012
Gift card breakage income
 
$
53

 
$
46

 
$
54

Schedule of primary costs, classified in each major expense category 
The following table illustrates the primary costs classified in each major expense category:
Cost of Goods Sold
•
 
Total cost of products sold including:
 
 
—
 
Freight expenses associated with moving merchandise inventories from our vendors to our distribution centers;
 
 
—
 
Vendor allowances that are not a reimbursement of specific, incremental and identifiable costs to promote a vendor's products; and
 
 
—
 
Cash discounts on payments to merchandise vendors;
•
 
Cost of services provided including:
 
 
—
 
Payroll and benefits costs for services employees; and
 
 
—
 
Cost of replacement parts and related freight expenses;
•
 
Physical inventory losses;
•
 
Markdowns;
•
 
Customer shipping and handling expenses;
•
 
Costs associated with operating our distribution network, including payroll and benefit costs, occupancy costs, and depreciation; and
•
 
Freight expenses associated with moving merchandise inventories from our distribution centers to our retail stores.
SG&A
•
 
Payroll and benefit costs for retail and corporate employees;
•
 
Occupancy and maintenance costs of retail, services and corporate facilities;
•
 
Depreciation and amortization related to retail, services and corporate assets;
•
 
Advertising costs;
•
 
Vendor allowances that are a reimbursement of specific, incremental and identifiable costs to promote a vendor's products;
•
 
Tender costs, including bank charges and costs associated with credit and debit card interchange fees;
•
 
Charitable contributions;
•
 
Outside and outsourced service fees;
•
 
Long-lived asset impairment charges; and
•
 
Other administrative costs, such as supplies, and travel and lodging.
Fiscal Year-End Change (Tables)
Fiscal Year Change 
The following table shows the fiscal months included within our financial statements and footnotes for fiscal 2014, fiscal 2013 (11-month) and fiscal 2012.
New Fiscal Calendar(1)
 
Previous Fiscal Calendar(1)
2014
 
2013 (11-Month)
 
2012
February 2013 - January 2014
 
March 2012 - January 2013
 
March 2011 - February 2012
(1)
For entities reported on a lag, the fiscal months included in fiscal 2013 (11-month) were February through December, and in fiscal 2014 and 2012 were January through December.
Fiscal Year-End Change 
The following is selected financial data for the one month ended January 31, 2012, and the comparable prior year period, for entities reported on a lag ($ in millions):
 
One Month Ended
 
January 31, 2012
 
January 31, 2011
 
(unaudited)
 
(unaudited)
Revenue
$
189

 
$
249

Gross profit
16

 
24

Operating loss
(14
)
 
(1
)
Net earnings (loss) from continuing operations
(13
)
 
—

Loss from discontinued operations, net of tax
(12
)
 
(28
)
Net loss including noncontrolling interests
(25
)
 
(28
)
Net loss attributable to Best Buy Co., Inc. shareholders(1)
(14
)
 
(33
)
(1)
The net loss attributable to Best Buy Co., Inc. shareholders for the one month ended January 31, 2012, represents the adjustment to retained earnings within the Consolidated Statements of Changes in Shareholders' Equity as a result of the exclusion of January results for entities reported on a lag.
Discontinued Operations (Tables)
Schedule of Assets and Liabilities Disposed of by Sale, in Period of Disposition [Table Text Block] 
The composition of assets and liabilities disposed of on June 26, 2013, as a result of the sale of Best Buy Europe was as follows ($ in millions):
 
June 26, 2013
Cash and cash equivalents
$
597

Receivables
1,295

Merchandise inventories
554

Other current assets
168

Net property and equipment
159

Other assets
316

Total assets
3,089

 
 
Accounts payable
790

Short-term debt
973

Other current liabilities
1,145

Long-term liabilities
65

Total liabilities
2,973

Schedule of financial results of discontinued operations 
The aggregate financial results of all discontinued operations for fiscal 2014, 2013 (11-month) and 2012 were as follows ($ in millions):
 
12-Month
 
11-Month
 
12-Month
 
2014
 
2013
 
2012
Revenue
$
2,815

 
$
5,259

 
$
5,658

Restructuring charges(1)
100

 
34

 
239

Gain (loss) from discontinued operations before income tax benefit
(240
)
 
15

 
(1,521
)
Income tax benefit(2)
42

 
37

 
122

Gain on sale of discontinued operations
32

 
—

 
—

Equity in loss of affiliates
—

 
(5
)
 
(3
)
Net gain (loss) from discontinued operations including noncontrolling interests
(166
)
 
47

 
(1,402
)
Net (gain) loss from discontinued operations attributable to noncontrolling interests
11

 
(19
)
 
(1,250
)
Net gain (loss) from discontinued operations attributable to Best Buy Co., Inc. shareholders
$
(155
)
 
$
28

 
$
(2,652
)
(1)
See Note 6, Restructuring Charges, for further discussion of the restructuring charges associated with discontinued operations.
(2)
Income tax benefit for fiscal 2014 includes a $27 million benefit related to a tax allocation between continuing and discontinued operations and a $15 million benefit related to the impairment of our investment in Best Buy Europe. The fiscal 2014 effective tax rate for discontinued operations differs from the statutory tax rate primarily due to the previously mentioned tax allocation, sale of mindSHIFT, restructuring charges and the impairment of our investment in Best Buy Europe. The sale of mindSHIFT, restructuring charges and impairment generally included no related tax benefit. The deferred tax assets related to the sale of mindSHIFT and restructuring charges generally resulted in an increase in the valuation allowance in an equal amount, of which the investment impairment is not tax deductible.
Fair Value Measurements (Tables)
Fair value, assets and liabilities measured on recurring basis 
The following tables set forth by level within the fair value hierarchy, our financial assets and liabilities that were accounted for at fair value on a recurring basis at February 1, 2014, and February 2, 2013, according to the valuation techniques we used to determine their fair values ($ in millions).
 
 
 
Fair Value Measurements Using Inputs Considered as
 
Fair Value at
February 1, 2014
 
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
$
53

 
$
53

 
$
—

 
$
—

Commercial paper
80

 
—

 
80

 
—

Treasury bills
263

 
263

 
—

 
—

Short-term investments
 
 
 
 
 
 
 
Commercial paper
100

 
—

 
100

 
—

Other current assets
 
 
 
 
 
 
 
Foreign currency derivative instruments
2

 
—

 
2

 
—

Other assets
 
 
 
 
 
 
 
Auction rate securities
9

 
—

 
—

 
9

Marketable securities that fund deferred compensation
96

 
96

 
—

 
—

Liabilities
 
 
 
 
 
 
 
Accrued liabilities
 
 
 
 
 
 
 
Foreign currency derivative instruments
5

 
—

 
5

 
—

 
 
 
 
Fair Value Measurements Using Inputs Considered as
 
Fair Value at
February 2, 2013
 
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
$
520

 
$
520

 
$
—

 
$
—

Other current assets


 
 

 
 

 
 

Foreign currency derivative instruments
1

 
—

 
1

 
—

Other assets


 
 

 
 

 
 

Auction rate securities
21

 
—

 
—

 
21

Marketable equity securities
27

 
27

 
—

 
—

Marketable securities that fund deferred compensation
88

 
88

 
—

 
—

Fair value, assets measured on a recurring basis, unobservable input reconciliation 
The following table provides a reconciliation between the beginning and ending balances of items measured at fair value on a recurring basis in the tables above that used significant unobservable inputs (Level 3) ($ in millions).
 
Debt securities — Auction rate securities only
 
Student loan bonds
 
Municipal revenue bonds
 
Total
Balances at March 3, 2012
$
80

 
$
2

 
$
82

Changes in unrealized losses in other comprehensive income
4

 
—

 
4

Sales
(65
)
 
—

 
(65
)
Balances at February 2, 2013
19

 
2

 
21

Changes in unrealized losses in other comprehensive income
1

 
—

 
1

Sales
(13
)
 
—

 
(13
)
Balances at February 1, 2014
$
7

 
$
2

 
$
9

Fair value, assets and liabilities measured on nonrecurring basis, fair value remeasurements (impairments) 
The following table summarizes the fair value remeasurements for non-restructuring property and equipment impairments, goodwill impairments and restructuring activities recorded for fiscal 2014 and fiscal 2013 (11-month) ($ in millions):
 
12-Month 2014
 
11-Month 2013
 
Impairments
 
Remaining Net
Carrying Value(1)
 
Impairments
 
Remaining Net
Carrying Value (1)
Continuing operations
 
 
 
 
 
 
 
Property and equipment (non-restructuring)
$
101

 
$
10

 
$
60

 
$
8

Goodwill(2)
—

 
—

 
822

 
—

Restructuring activities(3)
 
 
 
 
 
 
 
Property and equipment
9

 
—

 
59

 
—

Investments
16

 
21

 
27

 
38

Total
$
126

 
$
31

 
$
968

 
$
46

Discontinued operations(4)
 
 
 
 
 
 
 
Property and equipment(5)
$
220

 
$
—

 
$
11

 
$
—

Tradename
4

 
—

 
—

 
—

Total
$
224

 
$
—

 
$
11

 
$
—

(1)
Remaining net carrying value approximates fair value.
(2)
See Note 1, Significant Accounting Policies, for additional information.
(3)
See Note 6, Restructuring Charges, for additional information.
(4)
Property and equipment and tradename impairments associated with discontinued operations are recorded within gain (loss) from discontinued operations in our Consolidated Statements of Earnings.
(5)
Includes the $175 million impairment to write down the book value of our investment in Best Buy Europe to fair value. Upon completion of the sale of Best Buy Europe as described in Note 4, Discontinued Operations, the remaining net carrying values of all assets have been reduced to zero.

Restructuring Charges (Tables)
Composition of restructuring charges for both the Domestic and International segments 
Restructuring charges incurred in fiscal 2014, 2013 (11-month) and 2012 were as follows ($ in millions):
 
12-Month
 
11-Month
 
12-Month
 
2014
 
2013
 
2012
Continuing operations
 
 
 
 
 
Renew Blue
$
165

 
$
171

 
$
—

Fiscal 2013 U.S. restructuring
(6
)
 
257

 
—

Fiscal 2012 restructuring
—

 
(1
)
 
28

Fiscal 2011 restructuring
—

 
(12
)
 
20

Total
159

 
415

 
48

Discontinued operations
 
 
 
 
 
Fiscal 2013 Europe restructuring
95

 
36

 
—

Fiscal 2012 restructuring
5

 
(1
)
 
215

Fiscal 2011 restructuring
—

 
(1
)
 
24

Total (Note 4)
100

 
34

 
239

Total
$
259

 
$
449

 
$
287

Restructuring activity related to termination benefits and facility closure costs 
The following table summarizes our restructuring accrual activity during fiscal 2014 and 2013 (11-month) related to termination benefits and facility closure and other costs associated with this program ($ in millions):
 
Termination Benefits
 
Facility
Closure and
Other Costs
 
Total
Balance at March 3, 2012
$
—

 
$
—

 
$
—

Charges
55

 
54

 
109

Cash payments
(1
)
 
—

 
(1
)
Balance at February 2, 2013
54

 
54

 
108

Charges
133

 
16

 
149

Cash payments
(68
)
 
(23
)
 
(91
)
Adjustments
(8
)
 
4

 
(4
)
Balance at February 1, 2014
$
111

 
$
51

 
$
162

Composition of restructuring charges for both the Domestic and International segments 
The composition of the restructuring charges we incurred for this program in fiscal 2014 and 2013 (11-month), as well as the cumulative amount incurred through the end of fiscal 2014, was as follows ($ in millions):
 
Domestic
 
International
 
Total
 
12-Month 2014
 
11-Month 2013
 
Cumulative Amount
 
12-Month 2014
 
11-Month 2013
 
Cumulative Amount
 
12-Month 2014
 
11-Month 2013
 
Cumulative Amount
Continuing operations
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Inventory write-downs
$
—

 
$
1

 
$
1

 
$
—

 
$
—

 
$
—

 
$
—

 
$
1

 
$
1

Property and equipment impairments
7

 
7

 
14

 
2

 
23

 
25

 
9

 
30

 
39

Termination benefits
106

 
46

 
152

 
28

 
9

 
37

 
134

 
55

 
189

Investment impairments
16

 
27

 
43

 
—

 
—

 
—

 
16

 
27

 
43

Facility closure and other costs
—

 
3

 
3

 
6

 
55

 
61

 
6

 
58

 
64

Total
$
129

 
$
84

 
$
213

 
$
36

 
$
87

 
$
123

 
$
165

 
$
171

 
$
336

Restructuring activity related to termination benefits and facility closure costs 
The following table summarizes our restructuring accrual activity during fiscal 2014 and 2013 (11-month) related to termination benefits and facility closure and other costs associated with this program ($ in millions):
 
Termination Benefits
 
Facility
Closure and
Other Costs
 
Total
Balance at March 3, 2012
$
—

 
$
—

 
$
—

Charges
19

 
5

 
24

Cash payments
(19
)
 
—

 
(19
)
Balance at February 2, 2013
—

 
5

 
5

Charges
36

 
2

 
38

Cash payments
(2
)
 
(7
)
 
(9
)
Adjustments(1)
(34
)
 
—

 
(34
)
Balance at February 1, 2014
$
—

 
$
—

 
$
—


(1)
Represents the remaining liability written off as a result of the sale of Best Buy Europe, as described in Note 4, Discontinued Operations.
Composition of restructuring charges for both the Domestic and International segments 
The composition of the restructuring charges we incurred for this program in fiscal 2014 and 2013 (11-month), as well as the cumulative amount incurred through the end of fiscal 2014, was as follows ($ in millions):
 
International
 
12-Month 2014
 
11-Month 2013
 
Cumulative Amount
Discontinued operations
 
 
 
 
 
Inventory write-downs
$
7

 
$
—

 
$
7

Property and equipment impairments
45

 
12

 
57

Termination benefits
36

 
19

 
55

Tradename impairments
4

 
—

 
4

Facility closure and other costs
3

 
5

 
8

Total
$
95

 
$
36

 
$
131

Restructuring activity related to termination benefits and facility closure costs 
The following table summarizes our restructuring accrual activity during fiscal 2014 and 2013 (11-month) related to termination benefits and facility closure and other costs associated with this program ($ in millions):
 
Termination Benefits
 
Facility
Closure and
Other Costs
 
Total
Balance at March 3, 2012
$
—

 
$
—

 
$
—

Charges
109

 
152

 
261

Cash payments
(65
)
 
(33
)
 
(98
)
Adjustments
(40
)
 
(6
)
 
(46
)
Balance at February 2, 2013
4

 
113

 
117

Charges
—

 
4

 
4

Cash payments
(2
)
 
(46
)
 
(48
)
Adjustments
(2
)
 
(13
)
 
(15
)
Balance at February 1, 2014
$
—

 
$
58

 
$
58

Composition of restructuring charges for both the Domestic and International segments 
The composition of the restructuring charges we incurred for this program in fiscal 2014 and 2013 (11-month), as well as the cumulative amount incurred through the end of fiscal 2014, was as follows ($ in millions):
 
Domestic
 
12-Month 2014
 
11-Month 2013
 
Cumulative Amount
Continuing operations
 
 
 
 
 
Property and equipment impairments
$
—

 
$
29

 
$
29

Termination benefits
—

 
77

 
77

Facility closure and other costs
(6
)
 
151

 
145

Total
$
(6
)
 
$
257

 
$
251

Restructuring activity related to termination benefits and facility closure costs 
The following table summarizes our restructuring accrual activity during fiscal 2014 and 2013 (11-month) related to termination benefits and facility closure and other costs associated with this program ($ in millions):
 
Termination Benefits
 
Facility
Closure and
Other Costs
 
Total
Balance at March 3, 2012
$
17

 
$
85

 
$
102

Charges
1

 
2

 
3

Cash payments
(18
)
 
(83
)
 
(101
)
Adjustments(1)
—

 
28

 
28

Changes in foreign currency exchange rates
—

 
4

 
4

Balance at February 2, 2013
—


36

 
36

Cash payments
—

 
(33
)
 
(33
)
Adjustments(2)
—

 
(1
)
 
(1
)
Changes in foreign currency exchange rates
—

 
(2
)
 
(2
)
Balance at February 1, 2014
$
—

 
$
—

 
$
—


(1)
Included within adjustments to facility closure and other costs is $34 million from the first quarter of fiscal 2013 (11-month), representing an adjustment to exclude non-cash charges or benefits, which had no impact on our Consolidated Statements of Earnings in fiscal 2013 (11-month).
(2)
Included within adjustments to facility closure and other costs is a $5 million charge related to a change in sublease assumptions, offset by a $(6) million adjustment to write off the remaining liability as a result of the sale of Best Buy Europe, as described in Note 4, Discontinued Operations.
Composition of restructuring charges for both the Domestic and International segments 
The composition of the restructuring charges we incurred for this program in fiscal 2014, 2013 (11-month) and 2012, as well as the cumulative amount incurred through the end of fiscal 2014, was as follows ($ in millions):
 
Domestic
 
International
 
Total
 
12-Month 2014
 
11-Month 2013
 
12-Month 2012
 
Cumulative Amount
 
12-Month 2014
 
11-Month 2013
 
12-Month 2012
 
Cumulative Amount
 
12-Month 2014
 
11-Month 2013
 
12-Month 2012
 
Cumulative Amount
Continuing operations
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property and equipment impairments
$
—

 
$
—

 
$
17

 
$
17

 
$
—

 
$
—

 
$
5

 
$
5

 
$
—

 
$
—

 
$
22

 
$
22

Termination benefits
—

 
—

 
1

 
1

 
—

 
—

 
—

 
—

 
—

 
—

 
1

 
1

Facility closure and other costs
—

 
(1
)
 
5

 
4

 
—

 
—

 
—

 
—

 
—

 
(1
)
 
5

 
4

Total
—

 
(1
)
 
23

 
22

 
—

 
—

 
5

 
5

 
—

 
(1
)
 
28

 
27

Discontinued operations
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Inventory write-downs
—

 
—

 
—

 
—

 
—

 
—

 
11

 
11

 
—

 
—

 
11

 
11

Property and equipment impairments
—

 
—

 
—

 
—

 
—

 
—

 
106

 
106

 
—

 
—

 
106

 
106

Termination benefits
—

 
—

 
—

 
—

 
—

 
1

 
16

 
17

 
—

 
1

 
16

 
17

Facility closure and other costs
—

 
—

 
—

 
—

 
5

 
(2
)
 
82

 
85

 
5

 
(2
)
 
82

 
85

Total
—

 
—

 
—

 
—

 
5

 
(1
)
 
215

 
219

 
5

 
(1
)
 
215

 
219

Total
$
—

 
$
(1
)
 
$
23

 
$
22

 
$
5

 
$
(1
)
 
$
220

 
$
224

 
$
5

 
$
(2
)
 
$
243

 
$
246

Debt (Tables)
Short-term Debt 
Short-term debt consisted of the following ($ in millions):
 
February 1, 2014
 
February 2, 2013
 
Principal
Balance
 
Interest
Rate
 
Principal
Balance
 
Interest
Rate
Europe revolving credit facility(1)
$
—

 
—
%
 
$
596

 
2.0
%
 
 
12-Month
 
11-Month
Fiscal Year
 
2014
 
2013
Maximum month-end amount outstanding during the year(1)
 
$
597

 
$
596

Average amount outstanding during the year(1)
 
135

 
477


(1)
Amounts relate to our previous £400 million Europe unsecured revolving credit facility agreement (the "RCF"). Interest rates under the previous RCF were variable, based on LIBOR plus an applicable margin based on Best Buy Europe's fixed charges coverage ratio. As described in Note 4, Discontinued Operations, we sold our interest in Best Buy Europe on June 26, 2013.
Schedule of long-term debt 
Long-term debt consisted of the following ($ in millions):
 
February 1, 2014
 
February 2, 2013
2013 Notes
$
—

 
$
500

2016 Notes
349

 
349

2018 Notes
500

 
—

2021 Notes
649

 
648

Financing lease obligations, due 2015 to 2026, interest rates ranging from 3.0% to 8.1%
95

 
122

Capital lease obligations, due 2015 to 2036, interest rates ranging from 1.9% to 9.3%
63

 
80

Other debt, due 2017, interest rate 6.7%
1

 
1

Total long-term debt
1,657

 
1,700

Less: current portion(1)
(45
)
 
(547
)
Total long-term debt, less current portion
$
1,612

 
$
1,153

(1)
Our 2013 Notes due July 15, 2013, which we retired on July 15, 2013, are classified in the current portion of long-term debt as of February 2, 2013.

Schedule of future maturities of long-term debt, including capitalized leases 
At February 1, 2014, the future maturities of long-term debt, including capitalized leases, consisted of the following ($ in millions):
Fiscal Year
 
 
2015
 
$
45

2016
 
38

2017
 
372

2018
 
16

2019
 
509

Thereafter
 
677

Total long-term debt
 
$
1,657

Shareholders' Equity (Tables)
Stock-based compensation expense 
Stock-based compensation expense was as follows in fiscal 2014, 2013 (11-month) and 2012 ($ in millions):
 
12-Month
 
11-Month
 
12-Month
 
2014
 
2013
 
2012
Stock options
$
25

 
$
43

 
$
76

Share awards
 
 
 
 
 
Market-based
9

 
2

 
—

Time-based
62

 
62

 
33

Employee stock purchase plans
1

 
5

 
11

Total
$
97

 
$
112

 
$
120

Stock option activity 
Stock option activity was as follows in fiscal 2014:
 
Stock
Options
 
Weighted-
Average
Exercise Price
per Share
 
Weighted-Average
Remaining
Contractual
Term (in years)
 
Aggregate
Intrinsic Value (in millions)
Outstanding at February 2, 2013
29,983,000

 
$
36.93

 
 
 
 

Granted
2,741,000

 
$
22.53

 
 
 
 

Exercised
(5,169,000
)
 
$
31.21

 
 
 
 

Forfeited/Canceled
(5,454,000
)
 
$
37.36

 
 
 
 

Outstanding at February 1, 2014
22,101,000

 
$
36.38

 
5.4
 
$
16

Vested or expected to vest at February 1, 2014
21,597,000

 
$
36.68

 
5.3
 
$
16

Exercisable at February 1, 2014
16,926,000

 
$
40.11

 
4.4
 
$
5

Assumption used to estimate the fair value of stock option on the date of grant using a lattice model 
In fiscal 2014, 2013 (11-month) and 2012, we estimated the fair value of each stock option on the date of grant using a lattice or Black Scholes valuation model (for certain individuals) with the following assumptions:
 
 
12-Month
 
11-Month
 
12-Month
Valuation Assumptions(1)
 
2014
 
2013
 
2012
Risk-free interest rate(2)
 
0.1% – 1.8%

 
0.1% – 2.0%

 
0.1% – 3.6%

Expected dividend yield
 
2.0
%
 
2.2
%
 
2.3
%
Expected stock price volatility(3)
 
46
%
 
44
%
 
37
%
Expected life of stock options (in years)(4)
 
5.9

 
5.9

 
6.2


(1)
Forfeitures are estimated using historical experience and projected employee turnover.
(2)
Based on the U.S. Treasury constant maturity interest rate whose term is consistent with the expected life of our stock options.
(3)
In projecting expected stock price volatility, we consider both the historical volatility of our stock price as well as implied volatilities from exchange-traded options on our stock.
(4)
We estimate the expected life of stock options based upon historical experience.
Summary of the status of nonvested market-based share awards 
A summary of the status of our nonvested market-based share awards at February 1, 2014, and changes during fiscal 2014, is as follows:
Market-Based Share Awards
 
Shares
 
Weighted-Average Fair Value per Share
Outstanding at February 2, 2013
 
805,000

 
$
16.76

Granted
 
1,044,000

 
$
24.26

Vested
 
(20,000
)
 
$
19.89

Forfeited/Canceled
 
(193,000
)
 
$
21.82

Outstanding at February 1, 2014
 
1,636,000

 
$
20.91

Summary of the status of nonvested time-based share awards 
A summary of the status of our nonvested time-based share awards at February 1, 2014, and changes during fiscal 2014, is as follows:
Time-Based Share Awards
 
Shares
 
Weighted-Average Fair Value per Share
Outstanding at February 2, 2013
 
7,751,000

 
$
21.05

Granted
 
3,433,000

 
$
22.99

Vested
 
(2,642,000
)
 
$
22.06

Forfeited/Canceled
 
(1,477,000
)
 
$
21.61

Outstanding at February 1, 2014
 
7,065,000

 
$
21.49

Assumptions used to estimate the fair value of stock-based compensation expense associated with employee stock purchase plans on the purchase date using the Black-Scholes option-pricing valuation model 

Summary of stock options outstanding 
At February 1, 2014, options to purchase 22.1 million shares of common stock were outstanding as follows (shares in millions):
 
Exercisable
 
Unexercisable
 
Total
 
Shares
 
%
 
Weighted-
Average Price
per Share
 
Shares
 
%
 
Weighted-
Average Price
per Share
 
Shares
 
%
 
Weighted-
Average Price
per Share
In-the-money
2.6

 
15
%
 
$
23.84

 
4.3

 
83
%
 
$
21.45

 
6.9

 
31
%
 
$
22.36

Out-of-the-money
14.3

 
85
%
 
$
43.14

 
0.9

 
17
%
 
$
36.91

 
15.2

 
69
%
 
$
42.77

Total
16.9

 
100
%
 
$
40.11

 
5.2

 
100
%
 
$
24.16

 
22.1

 
100
%
 
$
36.38

Reconciliation of the numerators and denominators of basic and diluted earnings per share 
The following table presents a reconciliation of the numerators and denominators of basic and diluted earnings per share in fiscal 2014, 2013 (11-month) and 2012:
 
12-Month
 
11-Month
 
12-Month
 
2014
 
2013(1)
 
2012
Numerator (in millions):
 
 
 
 
 
Net earnings (loss) from continuing operations
$
689

 
$
(467
)
 
$
1,424

Net earnings from continuing operations attributable to noncontrolling interests
(2
)
 
(2
)
 
(3
)
Net earnings (loss) from continuing operations attributable to Best Buy Co., Inc., shareholders, basic
687

 
(469
)
 
1,421

Adjustment for assumed dilution:
 
 
 
 
 
Interest on convertible debentures due in 2022, net of tax
—

 
—

 
5

Net earnings (loss) from continuing operations attributable to Best Buy Co., Inc., shareholders, diluted
$
687

 
$
(469
)
 
$
1,426

Denominator (in millions):
 
 
 
 
 
Weighted-average common shares outstanding
342.1

 
338.6

 
366.3

Effect of potentially dilutive securities:
 
 
 
 
 
Shares from assumed conversion of convertible debentures
—

 
—

 
7.6

Stock options and other
5.5

 
—

 
0.6

Weighted-average common shares outstanding, assuming dilution
347.6

 
338.6

 
374.5

Net earnings (loss) per share from continuing operations attributable to Best Buy Co., Inc. shareholders
 
 
 
 
 
Basic
$
2.01

 
$
(1.38
)
 
$
3.88

Diluted
$
1.98

 
$
(1.38
)
 
$
3.81

(1)
The calculation of diluted loss per share for fiscal 2013 (11-month) does not include potentially dilutive securities because their inclusion would be anti-dilutive (i.e., reduce the net loss per share).
Repurchases of common stock 
The following table presents the amount and cost of shares we repurchased and retired in fiscal 2014, 2013 (11-month) and 2012 under the June 2011 program and the June 2007 program ($ and shares in millions):
 
12-Month
 
11-Month
 
12-Month
 
2014
 
2013
 
2012
June 2011 Program
 
 
 
 
 
Total number of shares repurchased
—

 
6.3

 
34.5

Total cost of shares repurchased
$
—

 
$
122

 
$
889

June 2007 Program
 
 
 
 
 
Total number of shares repurchased
—

 
—

 
20.1

Total cost of shares repurchased
$
—

 
$
—

 
$
611

Components of accumulated other comprehensive income, net of tax 
The following table provides a reconciliation of the components of accumulated other comprehensive income, net of tax, attributable to Best Buy Co., Inc. shareholders for fiscal 2014, 2013 (11-month) and 2012, respectively ($ in millions):
 
Foreign Currency Translation
 
Available-For-Sale Investments
 
Total
Balances at February 26, 2011
$
102

 
$
71

 
$
173

Foreign currency translation adjustments
(9
)
 
—

 
(9
)
Unrealized losses on available-for-sale investments
—

 
(26
)
 
(26
)
Reclassification of gains on available-for-sale investments into earnings
—

 
(48
)
 
(48
)
Balances at March 3, 2012
93

 
(3
)
 
90

Adjustment for fiscal year-end change
11

 
—

 
11

Balances at January 28, 2012
104

 
(3
)
 
101

Foreign currency translation adjustments
9

 
—

 
9

Unrealized gains on available-for-sale investments
—

 
2

 
2

Balances at February 2, 2013
113

 
(1
)
 
112

Foreign currency translation adjustments
(136
)
 
—

 
(136
)
Unrealized gains on available-for-sale investments
—

 
7

 
7

Reclassification of foreign currency translation adjustments into earnings due to sale of business
508

 
—

 
508

Reclassification of losses on available-for-sale investments into earnings
—

 
1

 
1

Balances at February 1, 2014
$
485

 
$
7

 
$
492

Leases (Tables)
Schedule of composition of net rent expense for operating leases, including leases of property and equipment 
The composition of net rent expense for all operating leases, including leases of property and equipment, was as follows in fiscal 2014, 2013 (11-month) and 2012 ($ in millions):
 
12-Month
 
11-Month
 
12-Month
 
2014
 
2013
 
2012
Minimum rentals
$
951

 
$
890

 
$
980

Contingent rentals
2

 
1

 
2

Total rent expense
953

 
891

 
982

Less: sublease income
(18
)
 
(16
)
 
(18
)
Net rent expense
$
935

 
$
875

 
$
964

Schedule of future minimum lease payments under capital, financing and operating leases (not including contingent rentals) 
The future minimum lease payments under our capital, financing and operating leases by fiscal year (not including contingent rentals) at February 1, 2014, were as follows ($ in millions):
Fiscal Year
 
Capital
Leases
 
Financing
Leases
 
Operating
Leases(1)
2015
 
$
26

 
$
27

 
$
1,027

2016
 
18

 
25

 
931

2017
 
8

 
19

 
807

2018
 
3

 
15

 
656

2019
 
2

 
9

 
496

Thereafter
 
17

 
17

 
1,116

Subtotal
 
74

 
112

 
$
5,033

Less: imputed interest
 
(11
)
 
(17
)
 
 

Present value
 
$
63

 
$
95

 
 


(1)
Operating lease obligations do not include payments to landlords covering real estate taxes and common area maintenance. These charges, if included, would increase total operating lease obligations by $1.5 billion at February 1, 2014.
Income Taxes (Tables)
Reconciliation of the federal statutory income tax rate to income tax expense 
The following is a reconciliation of the federal statutory income tax rate to income tax expense in fiscal 2014, 2013 (11-month) and 2012 ($ in millions):
 
12-Month
 
11-Month
 
12-Month
 
2014
 
2013
 
2012
Federal income tax at the statutory rate
$
380

 
$
(70
)
 
$
758

State income taxes, net of federal benefit
25

 
(2
)
 
47

(Benefit) expense from foreign operations
(13
)
 
49

 
(63
)
Other
6

 
5

 
—

Goodwill impairments (non-deductible)
—

 
287

 
—

Income tax expense
$
398

 
$
269

 
$
742

Effective income tax rate
36.7
%
 
(135.8
)%
 
34.3
%

Earning before income tax expense and equity in income (loss) of affiliates 
Earnings (loss) from continuing operations before income tax expense and equity in income (loss) of affiliates by jurisdiction was as follows in fiscal 2014, 2013 (11-month) and 2012 ($ in millions):
 
12-Month
 
11-Month
 
12-Month
 
2014
 
2013
 
2012
United States
$
687

 
$
279

 
$
1,644

Outside the United States
400

 
(477
)
 
522

Earnings (loss) from continuing operations before income tax expense and equity in income (loss) of affiliates
$
1,087

 
$
(198
)
 
$
2,166

Components of income tax expense 
Income tax expense was comprised of the following in fiscal 2014, 2013 (11-month) and 2012 ($ in millions):
 
12-Month
 
11-Month
 
12-Month
 
2014
 
2013
 
2012
Current:
 
 
 
 
 
Federal
$
306

 
$
204

 
$
520

State
45

 
(1
)
 
61

Foreign
64

 
66

 
72

 
415

 
269

 
653

Deferred:
 
 
 
 
 
Federal
(21
)
 
26

 
86

State
1

 
(3
)
 
11

Foreign
3

 
(23
)
 
(8
)
 
(17
)
 
—

 
89

Income tax expense
$
398

 
$
269

 
$
742

Deferred income tax assets and liabilities 
Deferred taxes are the result of differences between the bases of assets and liabilities for financial reporting and income tax purposes. Deferred tax assets and liabilities were comprised of the following ($ in millions):
 
February 1, 2014
 
February 2, 2013
Accrued property expenses
$
162

 
$
194

Other accrued expenses
133

 
119

Deferred revenue
81

 
153

Compensation and benefits
114

 
95

Stock-based compensation
110

 
137

Loss and credit carryforwards
176

 
266

Other
103

 
125

Total deferred tax assets
879

 
1,089

Valuation allowance
(158
)
 
(228
)
Total deferred tax assets after valuation allowance
721

 
861

Property and equipment
(286
)
 
(343
)
Goodwill and intangibles
(75
)
 
(127
)
Inventory
(60
)
 
(90
)
Other
(16
)
 
(22
)
Total deferred tax liabilities
(437
)
 
(582
)
Net deferred tax assets
$
284

 
$
279

Schedule of deferred tax assets and liabilities included in consolidated balance sheets 
Deferred tax assets and liabilities included in our Consolidated Balance Sheets were as follows ($ in millions):
 
February 1, 2014
 
February 2, 2013
Other current assets
$
261

 
$
228

Other assets
44

 
66

Other current liabilities
—

 
(5
)
Other long-term liabilities
(21
)
 
(10
)
Net deferred tax assets
$
284

 
$
279

Reconciliation of changes in unrecognized tax benefits 
The following table provides a reconciliation of changes in unrecognized tax benefits for fiscal 2014, 2013 (11-month) and 2012 ($ in millions):
 
12-Month
 
11-Month
 
12-Month
 
2014
 
2013
 
2012
Balance at beginning of period
$
383

 
$
387

 
$
359

Gross increases related to prior period tax positions
38

 
10

 
69

Gross decreases related to prior period tax positions
(67
)
 
(22
)
 
(35
)
Gross increases related to current period tax positions
34

 
37

 
43

Settlements with taxing authorities
(3
)
 
(10
)
 
(20
)
Lapse of statute of limitations
(15
)
 
(19
)
 
(29
)
Balance at end of period
$
370

 
$
383

 
$
387

Segment and Geographic Information (Tables)
Business segment information 
The following tables present our business segment information in fiscal 2014, 2013 (11-month) and 2012 ($ in millions):
 
12-Month
 
11-Month
 
12-Month
 
2014
 
2013
 
2012
Revenue
 
 
 
 
 
Domestic
$
35,831

 
$
33,222

 
$
37,596

International
6,579

 
6,605

 
7,861

Total revenue
$
42,410

 
$
39,827

 
$
45,457

Percentage of revenue, by revenue category
 
 
 
 
 
Domestic:
 
 
 
 
 
Consumer Electronics
30
%
 
34
%
 
36
%
Computing and Mobile Phones
48
%
 
44
%
 
40
%
Entertainment
8
%
 
9
%
 
12
%
Appliances
7
%
 
6
%
 
5
%
Services
6
%
 
6
%
 
6
%
Other
1
%
 
1
%
 
1
%
Total
100
%
 
100
%
 
100
%
International:
 
 
 
 
 
Consumer Electronics
28
%
 
31
%
 
34
%
Computing and Mobile Phones
40
%
 
39
%
 
36
%
Entertainment
7
%
 
8
%
 
8
%
Appliances
20
%
 
17
%
 
17
%
Services
5
%
 
5
%
 
5
%
Other
< 1%

 
< 1%

 
< 1%

Total
100
%
 
100
%
 
100
%
Operating income (loss)
 
 
 
 
 
Domestic
$
1,145

 
$
731

 
$
1,964

International(1)
(5
)
 
(850
)
 
236

Total operating income (loss)
1,140

 
(119
)
 
2,200

Other income (expense)
 
 
 
 
 
Gain on sale of investments
20

 
—

 
55

Investment income and other
27

 
20

 
22

Interest expense
(100
)
 
(99
)
 
(111
)
Earnings (loss) from continuing operations before income tax expense and equity in income (loss) of affiliates
$
1,087

 
$
(198
)
 
$
2,166

Assets
 
 
 
 
 
Domestic
$
11,146

 
$
10,874

 
$
9,592

International
2,867

 
5,913

 
6,413

Total assets
$
14,013

 
$
16,787

 
$
16,005

Capital expenditures
 
 
 
 
 
Domestic
$
440

 
$
488

 
$
488

International
107

 
217

 
278

Total capital expenditures
$
547

 
$
705

 
$
766

Depreciation
 
 
 
 
 
Domestic
$
565

 
$
561

 
$
612

International
136

 
233

 
267

Total depreciation
$
701

 
$
794

 
$
879

(1)
Included within our International segment's operating loss for fiscal 2013 (11-month) is a $819 million goodwill impairment charge.
Schedule of geographic information 
The following table presents our geographic information in fiscal 2014, 2013 (11-month) and 2012 ($ in millions):
 
12-Month
 
11-Month
 
12-Month
 
2014
 
2013
 
2012
Net sales to customers
 
 
 
 
 
United States
$
35,831

 
$
33,222

 
$
37,596

Canada
4,522

 
4,818

 
5,635

China
1,806

 
1,574

 
2,069

Other
251

 
213

 
157

Total revenue
$
42,410

 
$
39,827

 
$
45,457

Long-lived assets
 
 
 
 
 
United States
$
2,190

 
$
2,404

 
$
2,507

Europe
—

 
352

 
352

Canada
244

 
341

 
432

China
139

 
142

 
161

Other
25

 
31

 
19

Total long-lived assets
$
2,598

 
$
3,270

 
$
3,471

Supplementary Financial Information (Tables)
Schedule of supplementary financial information
The following tables show selected operating results for each 3-month quarter and full year of fiscal 2014 and 2013 (11-month)(unaudited) ($ in millions):
 
Quarter
 
12-Month
 
1st
 
2nd
 
3rd
 
4th
 
2014
Revenue
$
9,347

 
$
9,266

 
$
9,327

 
$
14,470

 
$
42,410

Comparable store sales % change(1)
(1.4
)%
 
(0.6
)%
 
0.3
%
 
(1.2
)%
 
(0.8
)%
Gross profit
$
2,158

 
$
2,458

 
$
2,157

 
$
2,917

 
$
9,690

Operating income(2)
168

 
413

 
90

 
469

 
1,140

Net earnings from continuing operations
97

 
237

 
44

 
311

 
689

Gain (loss) from discontinued operations, net of tax
(170
)
 
11

 
10

 
(17
)
 
(166
)
Net earnings (loss) including noncontrolling interests
(73
)
 
248

 
54

 
294

 
523

Net earnings (loss) attributable to Best Buy Co., Inc. shareholders
(81
)
 
266

 
54

 
293

 
532

Diluted earnings (loss) per share(3)
 
 
 
 
 
 
 
 
 
Continuing operations
$
0.29

 
$
0.69

 
$
0.12

 
$
0.88

 
$
1.98

Discontinued operations
(0.53
)
 
0.08

 
0.04

 
(0.05
)
 
(0.45
)
Diluted earnings (loss) per share
$
(0.24
)
 
$
0.77

 
$
0.16

 
$
0.83

 
$
1.53


 
Quarter
 
11-Month
 
1st
 
2nd
 
3rd
 
4th
 
2013(4)
Revenue
$
10,343

 
$
9,306

 
$
9,343

 
$
14,921

 
$
39,827

Comparable store sales % decline(1)
(5.2
)%
 
(3.3
)%
 
(5.1
)%
 
(1.4
)%
 
(3.4
)%
Gross profit
$
2,572

 
$
2,249

 
$
2,213

 
$
3,331

 
$
9,298

Operating income (loss)(5)
263

 
87

 
—

 
(181
)
 
(119
)
Net earnings (loss) from continuing operations
169

 
30

 
(9
)
 
(460
)
 
(467
)
Gain (loss) from discontinued operations, net of tax
(17
)
 
(37
)
 
10

 
81

 
47

Net earnings (loss) including noncontrolling interests
152

 
(7
)
 
1

 
(379
)
 
(420
)
Net earnings (loss) attributable to Best Buy Co., Inc. shareholders
158

 
12

 
(10
)
 
(409
)
 
(441
)
Diluted earnings (loss) per share(3)
 
 
 
 
 
 
 
 
 
Continuing operations
$
0.49

 
$
0.09

 
$
(0.03
)
 
$
(1.36
)
 
$
(1.38
)
Discontinued operations
(0.03
)
 
(0.05
)
 
—

 
0.15

 
0.08

Diluted earnings (loss) per share
$
0.46

 
$
0.04

 
$
(0.03
)
 
$
(1.21
)
 
$
(1.30
)
Note: Certain fiscal year totals may not add due to rounding.
(1)
Comprised of revenue from stores operating for at least 14 full months, as well as revenue related to call centers, websites and our other comparable sales channels. Revenue we earn from sales of merchandise to wholesalers or dealers is generally not included within our comparable store sales calculation. Relocated, remodeled and expanded stores are excluded from our comparable store sales calculation until at least 14 full months after reopening. Acquired stores are included in our comparable store sales calculation beginning with the first full quarter following the first anniversary of the date of the acquisition. The portion of our calculation of the comparable store sales percentage change attributable to our International segment excludes the effect of fluctuations in foreign currency exchange rates. The method of calculating comparable store sales varies across the retail industry. As a result, our method of calculating comparable store sales may not be the same as other retailers' methods. The calculation of comparable store sales excludes the impact of the extra week of revenue in the fourth quarter of fiscal 2012, as well as revenue from discontinued operations for all periods presented.
(2)
Includes $6 million, $7 million, $31 million and $115 million of restructuring charges recorded in the fiscal first, second, third and fourth quarters, respectively, and $159 million for the 12 months ended February 1, 2014, related to measures we took to restructure our businesses.
(3)
The sum of our quarterly diluted earnings per share does not equal our annual diluted earnings per share due to the impact of the timing of the repurchases of common stock and stock option exercises on quarterly and annual weighted-average shares outstanding.
(4)
On November 2, 2011, our Board of Directors approved a change to our fiscal year-end from the Saturday nearest the end of February to the Saturday nearest the end of January. In the first quarter of fiscal 2013 (11-month), we began reporting our quarterly results on the basis of our new fiscal year-end. As such, the results for the month of February 2012, which are included in the audited results for fiscal 2012, were also included in the reported first quarter of fiscal 2013 (11-month). However, the results for the month of February 2012 are not included in the results for the full year of fiscal 2013 (11-month). Thus, the four quarters of fiscal year 2013 (11-month) are not additive.
(5)
Includes $127 million, $91 million, $34 million and $169 million of restructuring charges recorded in the fiscal first, second, third and fourth quarters, respectively, and $415 million for the 11 months ended February 2, 2013, related to measures we took to restructure our businesses. Also included in the fourth quarter and 11 months ended February 2, 2013, is a $822 million goodwill impairment charge related to our Canada, Five Star and U.S. reporting units.
Summary of Significant Accounting Policies - Discontinued Operations (Details) (Best Buy Europe [Member])
Feb. 28, 2009
Best Buy Europe [Member]
 
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
 
Business Acquisition, Percentage of Voting Interests Acquired
50.00% 
Summary of Significant Accounting Policies - Description of Business (Details)
12 Months Ended
Feb. 1, 2014
segments
Accounting Policies [Abstract]
 
Number of Operating Segments
2 
Summary of Significant Accounting Policies - Fiscal Year (Details)
11 Months Ended 12 Months Ended
Feb. 2, 2013
Feb. 1, 2014
Mar. 3, 2012
Fiscal Year [Abstract]
 
 
 
Number of Months in Fiscal Year
11 months 
 
 
Reporting Lag for Certain Foreign Operations in Financial Statements
1 month 
 
2 months 
Number of Weeks in Fiscal Year
P48W 
P52W 
P53W 
Summary of Significant Accounting Policies - Basis of Presentation (Details) (USD $)
In Millions, unless otherwise specified
11 Months Ended 12 Months Ended
Feb. 2, 2013
Jan. 28, 2012
Feb. 1, 2014
Mar. 3, 2012
Restructuring Cost and Reserve [Line Items]
 
 
 
 
Reporting Lag for Certain Foreign Operations in Financial Statements
1 month 
 
 
2 months 
Goodwill impairments
$ 822 
$ 0 
$ 0 
$ 0 
Restructuring Program 2012 [Member]
 
 
 
 
Restructuring Cost and Reserve [Line Items]
 
 
 
 
Restructuring Charges Attributable to Intervening Event
 
 
 
82 
International [Member]
 
 
 
 
Restructuring Cost and Reserve [Line Items]
 
 
 
 
Goodwill impairments
$ 819 
 
$ 0 
$ 1,200 
Summary of Significant Accounting Policies - Cash & Cash Equivalents (Details) (USD $)
In Millions, unless otherwise specified
11 Months Ended 12 Months Ended
Feb. 2, 2013
Feb. 1, 2014
Accounting Policies [Abstract]
 
 
Maximum Term of Original Maturity to Classify an Instrument as Cash Equivalents
 
3 months 
Cash Equivalents, at Carrying Value
$ 740 
$ 1,705 
Weighted Average Interest Rate on Cash Equivalents
0.30% 
0.50% 
Bank Overdrafts
$ 97 
$ 62 
Summary of Significant Accounting Policies - Receivables (Details) (USD $)
In Millions, unless otherwise specified
Feb. 1, 2014
Feb. 2, 2013
Accounting Policies [Abstract]
 
 
Valuation Allowances and Reserves, Balance
$ 104 
$ 92 
Summary of Significant Accounting Policies - Restricted Assets (Details) (USD $)
In Millions, unless otherwise specified
Feb. 1, 2014
Feb. 2, 2013
Accounting Policies [Abstract]
 
 
Restricted Cash and Investments
$ 310 
$ 366 
Summary of Significant Accounting Policies - Derivatives (Details)
In Millions, unless otherwise specified
12 Months Ended 12 Months Ended 11 Months Ended 12 Months Ended
Feb. 1, 2014
GBP (£)
Feb. 1, 2014
Not Designated as Hedging Instrument [Member]
Discontinued Operations [Member]
GBP (£)
Feb. 1, 2014
Not Designated as Hedging Instrument [Member]
Continuing Operations [Member]
USD ($)
Feb. 2, 2013
Not Designated as Hedging Instrument [Member]
Continuing Operations [Member]
USD ($)
Feb. 1, 2014
Operating Expense [Member]
Discontinued Operations [Member]
USD ($)
Feb. 2, 2013
Operating Expense [Member]
Continuing Operations [Member]
USD ($)
Feb. 1, 2014
Operating Expense [Member]
Continuing Operations [Member]
USD ($)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
 
 
 
 
 
 
 
Derivative Instruments Not Designated as Hedging Instruments, Contract Term 1
12 months 
 
 
 
 
 
 
Derivative, Notional Amount
 
£ 455 
$ 157 
$ 173 
 
 
 
Net Proceeds from Divestiture of Businesses
471 
 
 
 
 
 
 
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments
 
 
 
 
$ 2 
$ 2 
$ 5 
Summary of Significant Accounting Policies - PP&E (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Feb. 1, 2014
Feb. 2, 2013
Feb. 1, 2014
Building [Member]
Feb. 1, 2014
Leasehold Improvements [Member]
Feb. 1, 2014
Fixtures and Equipment [Member]
Feb. 1, 2014
Assets Held under Capital Leases [Member]
Property, Plant and Equipment [Line Items]
 
 
 
 
 
 
Capital Leases, Balance Sheet, Assets by Major Class, Net
$ 58 
$ 70 
 
 
 
 
Capital Leases, Lessee Balance Sheet, Assets by Major Class, Accumulated Depreciation
$ 62 
$ 43 
 
 
 
 
Estimated useful lives, minimum (in years)
 
 
25 years 
3 years 
3 years 
2 years 
Estimated useful lives, maximum (in years)
 
 
50 years 
25 years 
20 years 
20 years 
Summary of Significant Accounting Policies - Impairment of PPE & Exit Activities (Details) (USD $)
In Millions, unless otherwise specified
Feb. 1, 2014
Feb. 2, 2013
Accounting Policies [Abstract]
 
 
Asset Retirement Obligation, Current
$ 33 
$ 83 
Asset Retirement Obligations, Noncurrent
$ 86 
$ 149 
Summary of Significant Accounting Policies - Leases (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Feb. 1, 2014
Feb. 2, 2013
Accounting Policies [Abstract]
 
 
Term of Lease Agreements, Low End of Range
10 years 
 
Term of Lease Agreements, High End of Range
20 years 
 
Deferred Rent Credit, Current
$ 36 
$ 50 
Deferred Rent Credit, Noncurrent
$ 232 
$ 289 
Summary of Significant Accounting Policies - Goodwill & Indefinite Intangible (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 11 Months Ended 12 Months Ended
Aug. 30, 2008
Feb. 2, 2013
Jan. 28, 2012
Feb. 1, 2014
Mar. 3, 2012
Feb. 26, 2011
Goodwill [Roll Forward]
 
 
 
 
 
 
Goodwill, balance at the beginning of the period
 
$ 1,335 
$ 2,454 
$ 528 
$ 2,454 
 
Goodwill acquisitions
1,500 
15 1
 
 
94 2
 
Goodwill impairments
 
822 
0 
0 
0 
 
Goodwill written off related to sale of business
 
 
 
103 3
7 
 
Goodwill changes in foreign currency exchange rates
 
0 
 
0 
1 
 
Goodwill other
 
 
 
 
0 
 
Goodwill, balance at the end of the period
 
528 
 
425 
1,335 
 
Indefinite-lived Intangible Assets [Roll Forward]
 
 
 
 
 
 
Indefinite-Lived Intangible Assets (Excluding Goodwill)
 
131 
 
101 
130 
105 
Intangible acquisitions
 
0 
 
 
1 
 
Tradename, impairments
 
0 
 
4 
0 
 
Intangible written off related to sale of business
 
 
 
22 3
5 
 
Intangible changes in foreign currency exchange rates
 
1 
 
(4)
1 
 
Intangible other
 
 
 
 
28 4
 
Goodwill, Gross
 
2,608 
 
1,308 5
 
 
Cumulative Impairment
 
(2,080)
 
(883)5
 
 
International [Member]
 
 
 
 
 
 
Goodwill [Roll Forward]
 
 
 
 
 
 
Goodwill, balance at the beginning of the period
 
819 
2,032 
0 
2,032 
 
Goodwill acquisitions
 
0 
 
 
0 
 
Goodwill impairments
 
819 
 
0 
1,200 
 
Goodwill written off related to sale of business
 
 
 
0 
7 
 
Goodwill changes in foreign currency exchange rates
 
0 
 
0 
1 
 
Goodwill other
 
 
 
 
0 
 
Goodwill, balance at the end of the period
 
0 
 
0 
819 
 
Indefinite-lived Intangible Assets [Roll Forward]
 
 
 
 
 
 
Indefinite-Lived Intangible Assets (Excluding Goodwill)
 
112 
 
82 
111 
84 
Intangible acquisitions
 
0 
 
 
0 
 
Tradename, impairments
 
0 
 
4 
0 
 
Intangible written off related to sale of business
 
 
 
22 3
2 
 
Intangible changes in foreign currency exchange rates
 
1 
 
(4)
1 
 
Intangible other
 
 
 
 
28 4
 
Domestic Segment [Member]
 
 
 
 
 
 
Goodwill [Roll Forward]
 
 
 
 
 
 
Goodwill, balance at the beginning of the period
 
516 
422 
528 
422 
 
Goodwill acquisitions
 
15 1
 
 
94 2
 
Goodwill impairments
 
3 
 
0 
0 
 
Goodwill written off related to sale of business
 
 
 
103 3
0 
 
Goodwill changes in foreign currency exchange rates
 
0 
 
0 
0 
 
Goodwill other
 
 
 
 
0 
 
Goodwill, balance at the end of the period
 
528 
 
425 
516 
 
Indefinite-lived Intangible Assets [Roll Forward]
 
 
 
 
 
 
Indefinite-Lived Intangible Assets (Excluding Goodwill)
 
19 
 
19 
19 
21 
Intangible acquisitions
 
0 
 
 
1 
 
Tradename, impairments
 
0 
 
0 
0 
 
Intangible written off related to sale of business
 
 
 
0 
3 
 
Intangible changes in foreign currency exchange rates
 
0 
 
0 
0 
 
Intangible other
 
 
 
 
0 
 
China [Member]
 
 
 
 
 
 
Goodwill [Roll Forward]
 
 
 
 
 
 
Goodwill impairments
 
208 
 
 
 
 
Canada [Member]
 
 
 
 
 
 
Goodwill [Roll Forward]
 
 
 
 
 
 
Goodwill impairments
 
611 
 
 
 
 
Customer Relationships [Member]
 
 
 
 
 
 
Schedule of Goodwill and Indefinite Lived Intangible Assets by Segment [Line Items]
 
 
 
 
 
 
Finite-Lived Intangible Assets, Gross Carrying Amount
 
475 
 
 
 
 
Finite-Lived Intangible Assets, Accumulated Amortization
 
272 
 
 
 
 
Finite-Lived Intangible Assets, Net
 
203 
 
 
 
 
Scenario, Previously Reported [Member]
 
 
 
 
 
 
Goodwill [Roll Forward]
 
 
 
 
 
 
Goodwill impairments
 
 
 
 
1,207 
 
Scenario, Previously Reported [Member] |
International [Member]
 
 
 
 
 
 
Goodwill [Roll Forward]
 
 
 
 
 
 
Goodwill impairments
 
 
 
 
$ 1,207 
 
Summary of Significant Accounting Policies - Insurance (Details) (USD $)
In Millions, unless otherwise specified
Feb. 1, 2014
Feb. 2, 2013
Accounting Policies [Abstract]
 
 
Self-insured liabilities included in accrued liabilities
$ 88 
$ 77 
Self-insured liabilities included in long-term liabilities
52 
47 
Self insurance reserve
$ 140 
$ 124 
Summary of Significant Accounting Policies - Foreign Currency (Details)
12 Months Ended
Feb. 1, 2014
Accounting Policies [Abstract]
 
Prior Period Foreign Currency Exchange Rate, Used to Align Operations Reported
1 month 
Summary of Significant Accounting Policies - Revenue (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Feb. 1, 2014
Feb. 2, 2013
Mar. 3, 2012
Accounting Policies [Abstract]
 
 
 
Sales returns reserve
$ 13 
$ 14 
 
Term of Extended Warranties, Low End of Range
3 months 
 
 
Term of Extended Warranties, High End of Range
4 years 
 
 
Percentage of Commissions on Sale of Extended Warranties to Revenue
2.10% 
2.40% 
2.40% 
Deferred revenue
399 
451 
 
Deferred revenue, noncurrent
$ 50 
$ 62 
 
Summary of Significant Accounting Policies - Gift Cards (Details) (USD $)
In Millions, unless otherwise specified
11 Months Ended 12 Months Ended
Feb. 2, 2013
Feb. 1, 2014
Mar. 3, 2012
Accounting Policies [Abstract]
 
 
 
Gift Card Redeemability, Determination Period
 
24 months 
 
Gift card breakage income
$ 46 
$ 53 
$ 54 
Summary of Significant Accounting Policies - Sales Incentives (Details)
12 Months Ended
Feb. 1, 2014
Accounting Policies [Abstract]
 
Number of Ways to Earn Loyalty Points
2 
Period of Expiration for Customer Loyalty Certificates, Low End of Range
2 months 
Period of Expiration for Customer Loyalty Certificates, High End of Range
12 months 
Period of Expiration for Customer Loyalty Certificates, Credit Card, Low end of Range
2 months 
Period of Expiration for Customer Loyalty Certificates, Credit Card, High end of Range
12 months 
Summary of Significant Accounting Policies - Advertising Costs (Details) (USD $)
In Millions, unless otherwise specified
11 Months Ended 12 Months Ended
Feb. 2, 2013
Feb. 1, 2014
Mar. 3, 2012
Accounting Policies [Abstract]
 
 
 
Advertising expense
$ 732 
$ 775 
$ 828 
Fiscal Year-End Change (Details) (USD $)
In Millions, unless otherwise specified
1 Months Ended 3 Months Ended 11 Months Ended 12 Months Ended
Jan. 31, 2012
Jan. 31, 2011
Feb. 1, 2014
Nov. 2, 2013
Aug. 3, 2013
May 4, 2013
Feb. 2, 2013
Nov. 3, 2012
Aug. 4, 2012
May 5, 2012
Feb. 2, 2013
Jan. 28, 2012
Feb. 1, 2014
Mar. 3, 2012
Fiscal Year-End Change [Abstract]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Number of Months in Fiscal Year
 
 
 
 
 
 
 
 
 
 
11 months 
 
 
 
Reporting Lag for Certain Foreign Operations in Financial Statements
 
 
 
 
 
 
 
 
 
 
1 month 
 
 
2 months 
Revenues
$ 189 
$ 249 
 
 
 
 
 
 
 
 
 
 
 
 
Gross profit
16 
24 
2,917 
2,157 
2,458 
2,158 
3,331 
2,213 
2,249 
2,572 
9,298 1
9,908 
9,690 
10,984 
Operating Income (Loss)
(14)
(1)
469 2
90 2
413 2
168 2
(181)3
0 3
87 3
263 3
(119)1 3
1,898 
1,140 2
2,200 
Net earnings (loss) from continuing operations
(13)
0 
311 
44 
237 
97 
(460)
(9)
30 
169 
(467)1 4
1,217 
689 
1,424 
Gain (loss) from discontinued operations, net of tax
(12)
(28)
(17)
10 
11 
(170)
81 
10 
(37)
(17)
47 1
(1,394)
(166)
(1,402)
Net earnings (loss) including noncontrolling interests
(25)
(28)
294 
54 
248 
(73)
(379)
1 
(7)
152 
(420)1
(177)
523 
22 
Net earnings (loss) attributable to Best Buy Co., Inc. shareholders
(14)5
(33)
293 
54 
266 
(81)
(409)
(10)
12 
158 
(441)1
(1,425)
532 
(1,231)
Adjustment for Fiscal Year-end Change (Note 2)
74 
5 
 
 
 
 
 
 
 
 
(74)
(5)
0 
0 
Fiscal Year Change, Adjustments to Cash Flows, Financing Activities
50 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fiscal Year Change, Adjustment to Cash Flows, Investing Activities
$ 18 
 
 
 
 
 
 
 
 
 
 
 
 
 
Profit Share Buy-Out (Details) (USD $)
3 Months Ended 11 Months Ended 12 Months Ended 11 Months Ended 12 Months Ended
Aug. 30, 2008
Feb. 2, 2013
Jan. 28, 2012
Feb. 1, 2014
Mar. 3, 2012
Feb. 2, 2013
International [Member]
Feb. 1, 2014
International [Member]
Mar. 3, 2012
International [Member]
Mar. 3, 2012
Best Buy Europe [Member]
Feb. 28, 2009
Carphone Warehouse Group plc [Member]
Feb. 28, 2009
Best Buy Europe [Member]
Profit Share Buy-Out [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Business Acquisition, Percentage of Voting Interests Acquired
 
 
 
 
 
 
 
 
 
 
50.00% 
Percentage Noncontrolling Interests Held
 
 
 
 
 
 
 
 
 
50.00% 
 
Profit share agreement, buy-out price
 
 
 
 
 
 
 
 
$ 1,300,000,000 
 
 
Goodwill acquisitions
1,500,000,000 
15,000,000 1
 
 
94,000,000 2
0 
 
0 
 
 
 
Goodwill impairments
 
$ 822,000,000 
$ 0 
$ 0 
$ 0 
$ 819,000,000 
$ 0 
$ 1,200,000,000 
 
 
 
Discontinued Operations (Details)
In Millions, unless otherwise specified
1 Months Ended 3 Months Ended 11 Months Ended 12 Months Ended 12 Months Ended 3 Months Ended 12 Months Ended
Jan. 31, 2012
USD ($)
Jan. 31, 2011
USD ($)
Feb. 1, 2014
USD ($)
Nov. 2, 2013
USD ($)
Aug. 3, 2013
USD ($)
Aug. 3, 2013
GBP (£)
May 4, 2013
USD ($)
Feb. 2, 2013
USD ($)
Nov. 3, 2012
USD ($)
Aug. 4, 2012
USD ($)
May 5, 2012
USD ($)
Feb. 2, 2013
USD ($)
Jan. 28, 2012
USD ($)
Feb. 1, 2014
USD ($)
Mar. 3, 2012
USD ($)
Feb. 26, 2011
USD ($)
Jun. 26, 2013
Best Buy Europe [Member]
USD ($)
Feb. 1, 2014
Domestic [Member]
USD ($)
Feb. 2, 2013
Domestic [Member]
USD ($)
Mar. 3, 2012
Domestic [Member]
USD ($)
Feb. 1, 2014
Domestic [Member]
mindSHIFT [Domain]
USD ($)
Feb. 1, 2014
International [Member]
USD ($)
Feb. 2, 2013
International [Member]
USD ($)
Mar. 3, 2012
International [Member]
USD ($)
Feb. 26, 2011
International [Member]
Best Buy China [Member]
store
Aug. 27, 2011
International [Member]
Best Buy Turkey [Member]
USD ($)
Feb. 26, 2011
International [Member]
Best Buy Turkey [Member]
store
Nov. 26, 2011
International [Member]
Best Buy U.K. [Member]
store
Mar. 3, 2012
International [Member]
Belgium [Member]
store
Mar. 3, 2012
International [Member]
Belgium [Member]
USD ($)
Feb. 28, 2009
Best Buy Europe [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Number of stores closed
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
8 
 
2 
11 
 
 
 
Number of stores sold
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
82 
 
 
Business Acquisition, Percentage of Voting Interests Acquired
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
50.00% 
Proceeds from Divestiture of Businesses
 
 
 
 
$ 526 
£ 341 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dollar Amount of Shares Received from Divestiture of Business
 
 
 
 
123 
80 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Future Cash Consideration from Divestiture of Business, Due within One Year
 
 
 
 
39 
25 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Future Cash Consideration from Divestiture of Business, Due within Two Years
 
 
 
 
39 
25 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest Rate on Future Cash Consideration from Divestiture of Business
 
 
 
 
2.50% 
2.50% 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
 
2,678 
 
 
 
 
1,826 
 
 
 
1,826 
1,401 
2,678 
1,199 
1,103 
597 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Receivables, net
 
 
1,308 
 
 
 
 
2,704 
 
 
 
2,704 
 
1,308 
 
 
1,295 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Merchandise inventories
 
 
5,376 
 
 
 
 
6,571 
 
 
 
6,571 
 
5,376 
 
 
554 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other current assets
 
 
900 
 
 
 
 
946 
 
 
 
946 
 
900 
 
 
168 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property, Plant and Equipment, Net
 
 
2,598 
 
 
 
 
3,270 
 
 
 
3,270 
 
2,598 
3,471 
 
159 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other Assets
 
 
404 
 
 
 
 
608 
 
 
 
608 
 
404 
 
 
316 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Assets
 
 
14,013 
 
 
 
 
16,787 
 
 
 
16,787 
 
14,013 
16,005 
 
3,089 
11,146 
10,874 
9,592 
 
2,867 
5,913 
6,413 
 
 
 
 
 
 
 
Accounts payable
 
 
5,122 
 
 
 
 
6,951 
 
 
 
6,951 
 
5,122 
 
 
790 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Short-term debt
 
 
0 
 
 
 
 
596 
 
 
 
596 
 
0 
 
 
973 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other Liabilities, Current
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1,145 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Long-Term Liabilities
 
 
976 
 
 
 
 
1,109 
 
 
 
1,109 
 
976 
 
 
65 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2,973 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue
 
 
 
 
 
 
 
 
 
 
 
5,259 
 
2,815 
5,658 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Restructuring charges
 
 
 
 
 
 
 
 
 
 
 
34 1
 
100 1
239 1
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gain (loss) from discontinued operations before income tax benefit
 
 
 
 
 
 
 
 
 
 
 
15 
 
(240)
(1,521)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income tax benefit
 
 
 
 
 
 
 
 
 
 
 
37 
 
42 2
122 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gain on sale of discontinued operations
 
 
 
 
 
 
 
 
 
 
 
0 
 
32 
0 
 
 
 
 
 
(18)
 
 
 
 
4 
 
 
 
5 
 
Equity in loss of affiliates
 
 
 
 
 
 
 
 
 
 
 
(5)
 
0 
(3)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net gain (loss) from discontinued operations including noncontrolling interests
(12)
(28)
(17)
10 
11 
 
(170)
81 
10 
(37)
(17)
47 3
(1,394)
(166)
(1,402)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net (earnings) loss from discontinued operations attributable to noncontrolling interests
 
 
 
 
 
 
 
 
 
 
 
(19)
(1,245)
11 
(1,250)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net gain (loss) from discontinued operations attributable to Best Buy Co., Inc.
 
 
 
 
 
 
 
 
 
 
 
28 
 
(155)
(2,652)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income Tax Expense (Benefit), Intraperiod Tax Allocation
 
 
 
 
 
 
 
 
 
 
 
 
 
27 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other Tax Expense (Benefit)
 
 
 
 
 
 
 
 
 
 
 
 
 
$ 15 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
[2] (2)Income tax benefit for fiscal 2014 includes a $27 million benefit related to a tax allocation between continuing and discontinued operations and a $15 million benefit related to the impairment of our investment in Best Buy Europe. The fiscal 2014 effective tax rate for discontinued operations differs from the statutory tax rate primarily due to the previously mentioned tax allocation, sale of mindSHIFT, restructuring charges and the impairment of our investment in Best Buy Europe. The sale of mindSHIFT, restructuring charges and impairment generally included no related tax benefit. The deferred tax assets related to the sale of mindSHIFT and restructuring charges generally resulted in an increase in the valuation allowance in an equal amount, of which the investment impairment is not tax deductible.
Fair Value Measurements (Details) (Fair Value, Measurements, Recurring [Member], USD $)
In Millions, unless otherwise specified
Feb. 1, 2014
Feb. 2, 2013
Cash and Cash Equivalents [Member] |
Fair Value [Member] |
Money Market Funds [Member]
 
 
ASSETS
 
 
Cash and cash equivalents
$ 53 
$ 520 
Cash and Cash Equivalents [Member] |
Fair Value [Member] |
Commercial Paper [Member]
 
 
ASSETS
 
 
Cash and cash equivalents
80 
 
Cash and Cash Equivalents [Member] |
Fair Value [Member] |
Treasury Securities [Member]
 
 
ASSETS
 
 
Cash and cash equivalents
263 
 
Cash and Cash Equivalents [Member] |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] |
Money Market Funds [Member]
 
 
ASSETS
 
 
Cash and cash equivalents
53 
520 
Cash and Cash Equivalents [Member] |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] |
Commercial Paper [Member]
 
 
ASSETS
 
 
Cash and cash equivalents
0 
 
Cash and Cash Equivalents [Member] |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] |
Treasury Securities [Member]
 
 
ASSETS
 
 
Cash and cash equivalents
263 
 
Cash and Cash Equivalents [Member] |
Significant Other Observable Inputs (Level 2) [Member] |
Money Market Funds [Member]
 
 
ASSETS
 
 
Cash and cash equivalents
0 
0 
Cash and Cash Equivalents [Member] |
Significant Other Observable Inputs (Level 2) [Member] |
Commercial Paper [Member]
 
 
ASSETS
 
 
Cash and cash equivalents
80 
 
Cash and Cash Equivalents [Member] |
Significant Other Observable Inputs (Level 2) [Member] |
Treasury Securities [Member]
 
 
ASSETS
 
 
Cash and cash equivalents
0 
 
Cash and Cash Equivalents [Member] |
Significant Unobservable Inputs (Level 3) [Member] |
Money Market Funds [Member]
 
 
ASSETS
 
 
Cash and cash equivalents
0 
0 
Cash and Cash Equivalents [Member] |
Significant Unobservable Inputs (Level 3) [Member] |
Commercial Paper [Member]
 
 
ASSETS
 
 
Cash and cash equivalents
0 
 
Cash and Cash Equivalents [Member] |
Significant Unobservable Inputs (Level 3) [Member] |
Treasury Securities [Member]
 
 
ASSETS
 
 
Cash and cash equivalents
0 
 
Short-term Investments [Member] |
Fair Value [Member] |
Commercial Paper [Member]
 
 
ASSETS
 
 
Short-term investments
100 
 
Short-term Investments [Member] |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] |
Commercial Paper [Member]
 
 
ASSETS
 
 
Short-term investments
0 
 
Short-term Investments [Member] |
Significant Other Observable Inputs (Level 2) [Member] |
Commercial Paper [Member]
 
 
ASSETS
 
 
Short-term investments
100 
 
Short-term Investments [Member] |
Significant Unobservable Inputs (Level 3) [Member] |
Commercial Paper [Member]
 
 
ASSETS
 
 
Short-term investments
0 
 
Other Current Assets [Member] |
Fair Value [Member]
 
 
ASSETS
 
 
Foreign currency derivative instruments
2 
1 
Other Current Assets [Member] |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
 
 
ASSETS
 
 
Foreign currency derivative instruments
0 
0 
Other Current Assets [Member] |
Significant Other Observable Inputs (Level 2) [Member]
 
 
ASSETS
 
 
Foreign currency derivative instruments
2 
1 
Other Current Assets [Member] |
Significant Unobservable Inputs (Level 3) [Member]
 
 
ASSETS
 
 
Foreign currency derivative instruments
0 
0 
Other Assets [Member] |
Fair Value [Member]
 
 
ASSETS
 
 
Auction rate securities
9 
21 
Marketable equity securities
 
27 
Marketable equity securities that fund deferred compensation
96 
88 
Other Assets [Member] |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
 
 
ASSETS
 
 
Auction rate securities
0 
0 
Marketable equity securities
 
27 
Marketable equity securities that fund deferred compensation
96 
88 
Other Assets [Member] |
Significant Other Observable Inputs (Level 2) [Member]
 
 
ASSETS
 
 
Auction rate securities
0 
0 
Marketable equity securities
 
0 
Marketable equity securities that fund deferred compensation
0 
0 
Other Assets [Member] |
Significant Unobservable Inputs (Level 3) [Member]
 
 
ASSETS
 
 
Auction rate securities
9 
21 
Marketable equity securities
 
0 
Marketable equity securities that fund deferred compensation
0 
0 
Accrued Liabilities [Member] |
Fair Value [Member]
 
 
LIABILITIES
 
 
Foreign currency derivative instruments
5 
 
Accrued Liabilities [Member] |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
 
 
LIABILITIES
 
 
Foreign currency derivative instruments
0 
 
Accrued Liabilities [Member] |
Significant Other Observable Inputs (Level 2) [Member]
 
 
LIABILITIES
 
 
Foreign currency derivative instruments
5 
 
Accrued Liabilities [Member] |
Significant Unobservable Inputs (Level 3) [Member]
 
 
LIABILITIES
 
 
Foreign currency derivative instruments
$ 0 
 
Fair Value Measurements - Auction Rate Securities (Details) (USD $)
In Millions, unless otherwise specified
11 Months Ended 12 Months Ended
Feb. 2, 2013
Feb. 1, 2014
Student loan bonds [Member]
 
 
Fair Value, Assets Measured On Recurring Basis, Unobservable Input Reconciliation.
 
 
Balance at the beginning of the period
$ 80 
$ 19 
Changes in unrealized losses included in other comprehensive income
4 
1 
Sales
(65)
(13)
Balance at the end of the period
19 
7 
Municipal revenue bonds [Member]
 
 
Fair Value, Assets Measured On Recurring Basis, Unobservable Input Reconciliation.
 
 
Balance at the beginning of the period
2 
2 
Changes in unrealized losses included in other comprehensive income
0 
0 
Sales
0 
0 
Balance at the end of the period
2 
2 
Total auction rate securities [Member]
 
 
Fair Value, Assets Measured On Recurring Basis, Unobservable Input Reconciliation.
 
 
Balance at the beginning of the period
82 
21 
Changes in unrealized losses included in other comprehensive income
4 
1 
Sales
(65)
(13)
Balance at the end of the period
$ 21 
$ 9 
Fair Value Measurements - Impairments (Details) (USD $)
In Millions, unless otherwise specified
11 Months Ended 12 Months Ended 11 Months Ended 12 Months Ended 6 Months Ended 11 Months Ended 12 Months Ended 11 Months Ended 12 Months Ended 11 Months Ended 12 Months Ended 11 Months Ended 12 Months Ended 11 Months Ended 12 Months Ended
Feb. 2, 2013
Jan. 28, 2012
Feb. 1, 2014
Mar. 3, 2012
Feb. 2, 2013
Continuing Operations [Member]
Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Inputs, Level 3 [Member]
Feb. 1, 2014
Continuing Operations [Member]
Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Inputs, Level 3 [Member]
Aug. 3, 2013
Discontinued Operations [Member]
Feb. 2, 2013
Discontinued Operations [Member]
Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Inputs, Level 3 [Member]
Feb. 1, 2014
Discontinued Operations [Member]
Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Inputs, Level 3 [Member]
Feb. 2, 2013
Discontinued Operations [Member]
Trade Names [Member]
Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Inputs, Level 3 [Member]
Feb. 1, 2014
Discontinued Operations [Member]
Trade Names [Member]
Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Inputs, Level 3 [Member]
Feb. 2, 2013
Best Buy Europe [Member]
Continuing Operations [Member]
Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Inputs, Level 3 [Member]
Feb. 1, 2014
Best Buy Europe [Member]
Continuing Operations [Member]
Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Inputs, Level 3 [Member]
Feb. 2, 2013
Property and equipment write-downs [Member]
Continuing Operations [Member]
Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Inputs, Level 3 [Member]
Feb. 1, 2014
Property and equipment write-downs [Member]
Continuing Operations [Member]
Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Inputs, Level 3 [Member]
Feb. 2, 2013
Investments Impairment Charge Related to Restructuring [Member]
Continuing Operations [Member]
Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Inputs, Level 3 [Member]
Feb. 1, 2014
Investments Impairment Charge Related to Restructuring [Member]
Continuing Operations [Member]
Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property and equipment, impairments
 
 
 
 
$ 60 
$ 101 
 
$ 11 1 2
$ 220 1 2
 
 
 
 
$ 59 3
$ 9 3
 
 
Property and equipment, remaining net carrying value
 
 
 
 
8 4
10 4
 
0 1 2 4
0 1 2 4
 
 
 
 
0 3 4
0 3 4
 
 
Goodwill impairments
822 
0 
0 
0 
 
 
 
 
 
 
 
822 5
0 5
 
 
 
 
Goodwill, remaining net carrying value
 
 
 
 
 
 
 
 
 
 
 
0 4 5
0 4 5
 
 
 
 
Investments, impairments
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
27 3
16 3
Investments, remaining net carrying value
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
38 3 4
21 3 4
Tradename, impairments
0 
 
4 
0 
 
 
 
 
 
0 2
4 2
 
 
 
 
 
 
Tradename, remaining net carrying value
 
 
 
 
 
 
 
 
 
0 2 4
0 2 4
 
 
 
 
 
 
Total impairments
 
 
 
 
968 
126 
 
11 2
224 2
 
 
 
 
 
 
 
 
Total remaining net carrying value
 
 
 
 
46 4
31 4
 
0 2 4
0 2 4
 
 
 
 
 
 
 
 
Impairment of Long-Lived Assets to be Disposed of
 
 
 
 
 
 
$ 175 
 
 
 
 
 
 
 
 
 
 
Restructuring Charges - Summary (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 11 Months Ended 12 Months Ended 6 Months Ended 11 Months Ended 12 Months Ended 11 Months Ended 12 Months Ended 11 Months Ended 12 Months Ended 11 Months Ended 12 Months Ended 15 Months Ended 11 Months Ended 12 Months Ended 11 Months Ended 12 Months Ended 11 Months Ended 12 Months Ended 11 Months Ended 12 Months Ended 11 Months Ended 12 Months Ended 11 Months Ended 12 Months Ended 11 Months Ended 12 Months Ended
Feb. 1, 2014
Nov. 2, 2013
Aug. 3, 2013
May 4, 2013
Feb. 2, 2013
Nov. 3, 2012
Aug. 4, 2012
May 5, 2012
Feb. 2, 2013
Jan. 28, 2012
Feb. 1, 2014
Mar. 3, 2012
Aug. 3, 2013
Restructuring Program 2012 [Member]
Feb. 2, 2013
Restructuring Program 2012 [Member]
Feb. 1, 2014
Restructuring Program 2012 [Member]
Mar. 3, 2012
Restructuring Program 2012 [Member]
Feb. 2, 2013
Restructuring Program 2011 [Member]
Mar. 3, 2012
Restructuring Program 2011 [Member]
Feb. 2, 2013
Continuing Operations [Member]
Feb. 1, 2014
Continuing Operations [Member]
Mar. 3, 2012
Continuing Operations [Member]
Feb. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 Renew Blue [Member] [Domain]
Feb. 1, 2014
Continuing Operations [Member]
Restructuring Program 2013 Renew Blue [Member] [Domain]
Mar. 3, 2012
Continuing Operations [Member]
Restructuring Program 2013 Renew Blue [Member] [Domain]
Feb. 1, 2014
Continuing Operations [Member]
Restructuring Program 2013 Renew Blue [Member] [Domain]
Feb. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 U.S. [Member] [Domain]
Feb. 1, 2014
Continuing Operations [Member]
Restructuring Program 2013 U.S. [Member] [Domain]
Mar. 3, 2012
Continuing Operations [Member]
Restructuring Program 2013 U.S. [Member] [Domain]
Feb. 2, 2013
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Feb. 1, 2014
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Mar. 3, 2012
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Feb. 2, 2013
Continuing Operations [Member]
Restructuring Program 2011 [Member]
Feb. 1, 2014
Continuing Operations [Member]
Restructuring Program 2011 [Member]
Mar. 3, 2012
Continuing Operations [Member]
Restructuring Program 2011 [Member]
Feb. 2, 2013
Discontinued Operations [Member]
Feb. 1, 2014
Discontinued Operations [Member]
Mar. 3, 2012
Discontinued Operations [Member]
Feb. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Feb. 1, 2014
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Mar. 3, 2012
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Feb. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2011 [Member]
Feb. 1, 2014
Discontinued Operations [Member]
Restructuring Program 2011 [Member]
Mar. 3, 2012
Discontinued Operations [Member]
Restructuring Program 2011 [Member]
Feb. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2013 Europe [Member] [Domain] [Domain]
Feb. 1, 2014
Discontinued Operations [Member]
Restructuring Program 2013 Europe [Member] [Domain] [Domain]
Mar. 3, 2012
Discontinued Operations [Member]
Restructuring Program 2013 Europe [Member] [Domain] [Domain]
Restructuring Cost and Reserve [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Restructuring charges
$ 115 
$ 31 
$ 7 
$ 6 
$ 169 
$ 34 
$ 91 
$ 127 
$ 449 
$ 280 
$ 259 
$ 287 
$ 5 
$ (2)
$ 5 
$ 243 
$ (13)
$ 44 
$ 415 
$ 159 
$ 48 
$ 171 
$ 165 
$ 0 
$ 336 
$ 257 
$ (6)
$ 0 
$ (1)
$ 0 
$ 28 
$ (12)
$ 0 
$ 20 
$ 34 
$ 100 
$ 239 
$ (1)
$ 5 
$ 215 
$ (1)
$ 0 
$ 24 
$ 36 
$ 95 
$ 0 
Restructuring Charges - Renew Blue Plan (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 11 Months Ended 12 Months Ended 11 Months Ended 12 Months Ended 11 Months Ended 12 Months Ended 11 Months Ended 12 Months Ended 11 Months Ended 12 Months Ended 11 Months Ended 12 Months Ended 15 Months Ended 11 Months Ended 12 Months Ended 15 Months Ended 11 Months Ended 12 Months Ended 15 Months Ended 11 Months Ended 12 Months Ended 15 Months Ended 11 Months Ended 12 Months Ended 15 Months Ended 11 Months Ended 12 Months Ended 15 Months Ended 11 Months Ended 12 Months Ended 15 Months Ended 11 Months Ended 12 Months Ended 15 Months Ended 11 Months Ended 12 Months Ended 15 Months Ended 11 Months Ended 12 Months Ended 15 Months Ended 11 Months Ended 12 Months Ended 15 Months Ended 11 Months Ended 12 Months Ended 15 Months Ended 11 Months Ended 12 Months Ended 15 Months Ended 11 Months Ended 12 Months Ended 15 Months Ended 11 Months Ended 12 Months Ended 15 Months Ended 11 Months Ended 12 Months Ended 15 Months Ended 11 Months Ended 12 Months Ended 15 Months Ended 11 Months Ended 12 Months Ended 15 Months Ended
Feb. 1, 2014
Nov. 2, 2013
Aug. 3, 2013
May 4, 2013
Feb. 2, 2013
Nov. 3, 2012
Aug. 4, 2012
May 5, 2012
Feb. 2, 2013
Jan. 28, 2012
Feb. 1, 2014
Mar. 3, 2012
Feb. 2, 2013
Continuing Operations [Member]
Feb. 1, 2014
Continuing Operations [Member]
Mar. 3, 2012
Continuing Operations [Member]
Feb. 2, 2013
Restructuring Program 2013 Renew Blue [Member] [Domain]
Feb. 1, 2014
Restructuring Program 2013 Renew Blue [Member] [Domain]
Mar. 3, 2012
Restructuring Program 2013 Renew Blue [Member] [Domain]
Feb. 2, 2013
Restructuring Program 2013 Renew Blue [Member] [Domain]
Employee Severance [Member]
Feb. 1, 2014
Restructuring Program 2013 Renew Blue [Member] [Domain]
Employee Severance [Member]
Mar. 3, 2012
Restructuring Program 2013 Renew Blue [Member] [Domain]
Employee Severance [Member]
Feb. 2, 2013
Restructuring Program 2013 Renew Blue [Member] [Domain]
Facility Closing [Member]
Feb. 1, 2014
Restructuring Program 2013 Renew Blue [Member] [Domain]
Facility Closing [Member]
Mar. 3, 2012
Restructuring Program 2013 Renew Blue [Member] [Domain]
Facility Closing [Member]
Feb. 2, 2013
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
Feb. 1, 2014
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
Mar. 3, 2012
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
Feb. 1, 2014
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
Feb. 2, 2013
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
Inventory write-downs [Member]
Feb. 1, 2014
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
Inventory write-downs [Member]
Feb. 1, 2014
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
Inventory write-downs [Member]
Feb. 2, 2013
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
Property and equipment write-downs [Member]
Feb. 1, 2014
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
Property and equipment write-downs [Member]
Feb. 1, 2014
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
Property and equipment write-downs [Member]
Feb. 2, 2013
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
Employee Severance [Member]
Feb. 1, 2014
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
Employee Severance [Member]
Feb. 1, 2014
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
Employee Severance [Member]
Feb. 2, 2013
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
Investments Impairment Charge Related to Restructuring [Member]
Feb. 1, 2014
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
Investments Impairment Charge Related to Restructuring [Member]
Feb. 1, 2014
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
Investments Impairment Charge Related to Restructuring [Member]
Feb. 2, 2013
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
Facility Closing [Member]
Feb. 1, 2014
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
Facility Closing [Member]
Feb. 1, 2014
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
Facility Closing [Member]
Feb. 2, 2013
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
Domestic Segment [Member]
Feb. 1, 2014
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
Domestic Segment [Member]
Feb. 1, 2014
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
Domestic Segment [Member]
Feb. 2, 2013
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
Domestic Segment [Member]
Inventory write-downs [Member]
Feb. 1, 2014
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
Domestic Segment [Member]
Inventory write-downs [Member]
Feb. 1, 2014
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
Domestic Segment [Member]
Inventory write-downs [Member]
Feb. 2, 2013
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
Domestic Segment [Member]
Property and equipment write-downs [Member]
Feb. 1, 2014
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
Domestic Segment [Member]
Property and equipment write-downs [Member]
Feb. 1, 2014
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
Domestic Segment [Member]
Property and equipment write-downs [Member]
Feb. 2, 2013
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
Domestic Segment [Member]
Employee Severance [Member]
Feb. 1, 2014
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
Domestic Segment [Member]
Employee Severance [Member]
Feb. 1, 2014
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
Domestic Segment [Member]
Employee Severance [Member]
Feb. 2, 2013
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
Domestic Segment [Member]
Investments Impairment Charge Related to Restructuring [Member]
Feb. 1, 2014
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
Domestic Segment [Member]
Investments Impairment Charge Related to Restructuring [Member]
Feb. 1, 2014
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
Domestic Segment [Member]
Investments Impairment Charge Related to Restructuring [Member]
Feb. 2, 2013
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
Domestic Segment [Member]
Facility Closing [Member]
Feb. 1, 2014
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
Domestic Segment [Member]
Facility Closing [Member]
Feb. 1, 2014
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
Domestic Segment [Member]
Facility Closing [Member]
Feb. 2, 2013
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
International [Member]
Feb. 1, 2014
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
International [Member]
Feb. 1, 2014
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
International [Member]
Feb. 2, 2013
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
International [Member]
Inventory write-downs [Member]
Feb. 1, 2014
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
International [Member]
Inventory write-downs [Member]
Feb. 1, 2014
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
International [Member]
Inventory write-downs [Member]
Feb. 2, 2013
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
International [Member]
Property and equipment write-downs [Member]
Feb. 1, 2014
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
International [Member]
Property and equipment write-downs [Member]
Feb. 1, 2014
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
International [Member]
Property and equipment write-downs [Member]
Feb. 2, 2013
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
International [Member]
Employee Severance [Member]
Feb. 1, 2014
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
International [Member]
Employee Severance [Member]
Feb. 1, 2014
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
International [Member]
Employee Severance [Member]
Feb. 2, 2013
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
International [Member]
Investments Impairment Charge Related to Restructuring [Member]
Feb. 1, 2014
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
International [Member]
Investments Impairment Charge Related to Restructuring [Member]
Feb. 1, 2014
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
International [Member]
Investments Impairment Charge Related to Restructuring [Member]
Feb. 2, 2013
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
International [Member]
Facility Closing [Member]
Feb. 1, 2014
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
International [Member]
Facility Closing [Member]
Feb. 1, 2014
Restructuring Program 2013 Renew Blue [Member] [Domain]
Continuing Operations [Member]
International [Member]
Facility Closing [Member]
Restructuring Cost and Reserve [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Restructuring charges
$ 115 
$ 31 
$ 7 
$ 6 
$ 169 
$ 34 
$ 91 
$ 127 
$ 449 
$ 280 
$ 259 
$ 287 
$ 415 
$ 159 
$ 48 
 
 
 
 
 
 
 
 
 
$ 171 
$ 165 
$ 0 
$ 336 
$ 1 
$ 0 
$ 1 
$ 30 
$ 9 
$ 39 
$ 55 
$ 134 
$ 189 
$ 27 
$ 16 
$ 43 
$ 58 
$ 6 
$ 64 
$ 84 
$ 129 
$ 213 
$ 1 
$ 0 
$ 1 
$ 7 
$ 7 
$ 14 
$ 46 
$ 106 
$ 152 
$ 27 
$ 16 
$ 43 
$ 3 
$ 0 
$ 3 
$ 87 
$ 36 
$ 123 
$ 0 
$ 0 
$ 0 
$ 23 
$ 2 
$ 25 
$ 9 
$ 28 
$ 37 
$ 0 
$ 0 
$ 0 
$ 55 
$ 6 
$ 61 
Restructuring Reserve
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
108 
162 
0 
54 
111 
0 
54 
51 
0 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Restructuring charges
 
 
 
 
 
 
 
 
414 
24 
159 
29 
 
 
 
109 
149 
 
55 
133 
 
54 
16 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Payments for Restructuring
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1)
(91)
 
(1)
(68)
 
0 
(23)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Restructuring Reserve, Accrual Adjustment
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$ 4 
 
 
$ 8 
 
 
$ (4)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Restructuring Charges - Fiscal 2013 Europe Restructuring (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 11 Months Ended 12 Months Ended 11 Months Ended 12 Months Ended 11 Months Ended 12 Months Ended 11 Months Ended 12 Months Ended 11 Months Ended 12 Months Ended 11 Months Ended 12 Months Ended 11 Months Ended 12 Months Ended 18 Months Ended 11 Months Ended 12 Months Ended 18 Months Ended 11 Months Ended 12 Months Ended 18 Months Ended 11 Months Ended 12 Months Ended 18 Months Ended 11 Months Ended 12 Months Ended 18 Months Ended 11 Months Ended 12 Months Ended 18 Months Ended
Feb. 1, 2014
Nov. 2, 2013
Aug. 3, 2013
May 4, 2013
Feb. 2, 2013
Nov. 3, 2012
Aug. 4, 2012
May 5, 2012
Feb. 2, 2013
Jan. 28, 2012
Feb. 1, 2014
Mar. 3, 2012
Feb. 2, 2013
Discontinued Operations [Member]
Feb. 1, 2014
Discontinued Operations [Member]
Mar. 3, 2012
Discontinued Operations [Member]
Feb. 2, 2013
Restructuring Program 2013 Europe [Member] [Domain] [Domain]
Feb. 1, 2014
Restructuring Program 2013 Europe [Member] [Domain] [Domain]
Mar. 3, 2012
Restructuring Program 2013 Europe [Member] [Domain] [Domain]
Feb. 2, 2013
Restructuring Program 2013 Europe [Member] [Domain] [Domain]
Employee Severance [Member]
Feb. 1, 2014
Restructuring Program 2013 Europe [Member] [Domain] [Domain]
Employee Severance [Member]
Mar. 3, 2012
Restructuring Program 2013 Europe [Member] [Domain] [Domain]
Employee Severance [Member]
Feb. 2, 2013
Restructuring Program 2013 Europe [Member] [Domain] [Domain]
Facility Closing [Member]
Feb. 1, 2014
Restructuring Program 2013 Europe [Member] [Domain] [Domain]
Facility Closing [Member]
Mar. 3, 2012
Restructuring Program 2013 Europe [Member] [Domain] [Domain]
Facility Closing [Member]
Feb. 2, 2013
Restructuring Program 2013 Europe [Member] [Domain] [Domain]
Discontinued Operations [Member]
Feb. 1, 2014
Restructuring Program 2013 Europe [Member] [Domain] [Domain]
Discontinued Operations [Member]
Mar. 3, 2012
Restructuring Program 2013 Europe [Member] [Domain] [Domain]
Discontinued Operations [Member]
Feb. 2, 2013
Restructuring Program 2013 Europe [Member] [Domain] [Domain]
Discontinued Operations [Member]
International [Member]
Feb. 1, 2014
Restructuring Program 2013 Europe [Member] [Domain] [Domain]
Discontinued Operations [Member]
International [Member]
Feb. 1, 2014
Restructuring Program 2013 Europe [Member] [Domain] [Domain]
Discontinued Operations [Member]
International [Member]
Feb. 2, 2013
Restructuring Program 2013 Europe [Member] [Domain] [Domain]
Discontinued Operations [Member]
International [Member]
Inventory write-downs [Member]
Feb. 1, 2014
Restructuring Program 2013 Europe [Member] [Domain] [Domain]
Discontinued Operations [Member]
International [Member]
Inventory write-downs [Member]
Feb. 1, 2014
Restructuring Program 2013 Europe [Member] [Domain] [Domain]
Discontinued Operations [Member]
International [Member]
Inventory write-downs [Member]
Feb. 2, 2013
Restructuring Program 2013 Europe [Member] [Domain] [Domain]
Discontinued Operations [Member]
International [Member]
Property and equipment write-downs [Member]
Feb. 1, 2014
Restructuring Program 2013 Europe [Member] [Domain] [Domain]
Discontinued Operations [Member]
International [Member]
Property and equipment write-downs [Member]
Feb. 1, 2014
Restructuring Program 2013 Europe [Member] [Domain] [Domain]
Discontinued Operations [Member]
International [Member]
Property and equipment write-downs [Member]
Feb. 2, 2013
Restructuring Program 2013 Europe [Member] [Domain] [Domain]
Discontinued Operations [Member]
International [Member]
Employee Severance [Member]
Feb. 1, 2014
Restructuring Program 2013 Europe [Member] [Domain] [Domain]
Discontinued Operations [Member]
International [Member]
Employee Severance [Member]
Feb. 1, 2014
Restructuring Program 2013 Europe [Member] [Domain] [Domain]
Discontinued Operations [Member]
International [Member]
Employee Severance [Member]
Feb. 2, 2013
Restructuring Program 2013 Europe [Member] [Domain] [Domain]
Discontinued Operations [Member]
International [Member]
Impairment of Intangible Assets Related to Restructuring [Member]
Feb. 1, 2014
Restructuring Program 2013 Europe [Member] [Domain] [Domain]
Discontinued Operations [Member]
International [Member]
Impairment of Intangible Assets Related to Restructuring [Member]
Feb. 1, 2014
Restructuring Program 2013 Europe [Member] [Domain] [Domain]
Discontinued Operations [Member]
International [Member]
Impairment of Intangible Assets Related to Restructuring [Member]
Feb. 2, 2013
Restructuring Program 2013 Europe [Member] [Domain] [Domain]
Discontinued Operations [Member]
International [Member]
Facility Closing [Member]
Feb. 1, 2014
Restructuring Program 2013 Europe [Member] [Domain] [Domain]
Discontinued Operations [Member]
International [Member]
Facility Closing [Member]
Feb. 1, 2014
Restructuring Program 2013 Europe [Member] [Domain] [Domain]
Discontinued Operations [Member]
International [Member]
Facility Closing [Member]
Feb. 28, 2009
Best Buy Europe [Member]
Restructuring Cost and Reserve [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Business Acquisition, Percentage of Voting Interests Acquired
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
50.00% 
Restructuring Reserve
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$ 5 
$ 0 
$ 0 
$ 0 
$ 0 
$ 0 
$ 5 
$ 0 
$ 0 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Restructuring charges
115 
31 
7 
6 
169 
34 
91 
127 
449 
280 
259 
287 
34 
100 
239 
 
 
 
 
 
 
 
 
 
36 
95 
0 
36 
95 
131 
0 
7 
7 
12 
45 
57 
19 
36 
55 
0 
4 
4 
5 
3 
8 
 
Restructuring charges
 
 
 
 
 
 
 
 
414 
24 
159 
29 
 
 
 
24 
38 
 
19 
36 
 
5 
2 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Payments for Restructuring
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
19 
9 
 
19 
2 
 
0 
7 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Restructuring Reserve, Accrual Adjustment
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$ 34 1
 
 
$ 34 1
 
 
$ 0 1
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Restructuring Charges - Fiscal 2013 U.S. Restructuring (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 11 Months Ended 12 Months Ended 3 Months Ended 11 Months Ended 12 Months Ended 11 Months Ended 12 Months Ended 11 Months Ended 12 Months Ended 11 Months Ended 12 Months Ended 11 Months Ended 12 Months Ended 11 Months Ended 12 Months Ended 24 Months Ended 11 Months Ended 12 Months Ended 24 Months Ended 11 Months Ended 12 Months Ended 24 Months Ended 11 Months Ended 12 Months Ended 24 Months Ended
Feb. 1, 2014
Nov. 2, 2013
Aug. 3, 2013
May 4, 2013
Feb. 2, 2013
Nov. 3, 2012
Aug. 4, 2012
May 5, 2012
Feb. 2, 2013
Jan. 28, 2012
Feb. 1, 2014
Mar. 3, 2012
May 5, 2012
Restructuring Charges 2013 [Member]
Domestic Segment [Member]
store
Feb. 2, 2013
Restructuring Program 2013 U.S. [Member] [Domain]
Feb. 1, 2014
Restructuring Program 2013 U.S. [Member] [Domain]
Mar. 3, 2012
Restructuring Program 2013 U.S. [Member] [Domain]
Feb. 2, 2013
Restructuring Program 2013 U.S. [Member] [Domain]
Employee Severance [Member]
Feb. 1, 2014
Restructuring Program 2013 U.S. [Member] [Domain]
Employee Severance [Member]
Mar. 3, 2012
Restructuring Program 2013 U.S. [Member] [Domain]
Employee Severance [Member]
Feb. 2, 2013
Restructuring Program 2013 U.S. [Member] [Domain]
Facility Closing [Member]
Feb. 1, 2014
Restructuring Program 2013 U.S. [Member] [Domain]
Facility Closing [Member]
Mar. 3, 2012
Restructuring Program 2013 U.S. [Member] [Domain]
Facility Closing [Member]
Feb. 2, 2013
Continuing Operations [Member]
Feb. 1, 2014
Continuing Operations [Member]
Mar. 3, 2012
Continuing Operations [Member]
Feb. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 U.S. [Member] [Domain]
Feb. 1, 2014
Continuing Operations [Member]
Restructuring Program 2013 U.S. [Member] [Domain]
Mar. 3, 2012
Continuing Operations [Member]
Restructuring Program 2013 U.S. [Member] [Domain]
Feb. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 U.S. [Member] [Domain]
Domestic Segment [Member]
Feb. 1, 2014
Continuing Operations [Member]
Restructuring Program 2013 U.S. [Member] [Domain]
Domestic Segment [Member]
Feb. 1, 2014
Continuing Operations [Member]
Restructuring Program 2013 U.S. [Member] [Domain]
Domestic Segment [Member]
Feb. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 U.S. [Member] [Domain]
Domestic Segment [Member]
Property and equipment write-downs [Member]
Feb. 1, 2014
Continuing Operations [Member]
Restructuring Program 2013 U.S. [Member] [Domain]
Domestic Segment [Member]
Property and equipment write-downs [Member]
Feb. 1, 2014
Continuing Operations [Member]
Restructuring Program 2013 U.S. [Member] [Domain]
Domestic Segment [Member]
Property and equipment write-downs [Member]
Feb. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 U.S. [Member] [Domain]
Domestic Segment [Member]
Employee Severance [Member]
Feb. 1, 2014
Continuing Operations [Member]
Restructuring Program 2013 U.S. [Member] [Domain]
Domestic Segment [Member]
Employee Severance [Member]
Feb. 1, 2014
Continuing Operations [Member]
Restructuring Program 2013 U.S. [Member] [Domain]
Domestic Segment [Member]
Employee Severance [Member]
Feb. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 U.S. [Member] [Domain]
Domestic Segment [Member]
Facility Closing [Member]
Feb. 1, 2014
Continuing Operations [Member]
Restructuring Program 2013 U.S. [Member] [Domain]
Domestic Segment [Member]
Facility Closing [Member]
Feb. 1, 2014
Continuing Operations [Member]
Restructuring Program 2013 U.S. [Member] [Domain]
Domestic Segment [Member]
Facility Closing [Member]
Restructuring Cost and Reserve [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Number of Stores to be Closed
 
 
 
 
 
 
 
 
 
 
 
 
49 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Restructuring Reserve
 
 
 
 
 
 
 
 
 
 
 
 
 
$ 117 
$ 58 
$ 0 
$ 4 
$ 0 
$ 0 
$ 113 
$ 58 
$ 0 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Restructuring charges
115 
31 
7 
6 
169 
34 
91 
127 
449 
280 
259 
287 
 
 
 
 
 
 
 
 
 
 
415 
159 
48 
257 
(6)
0 
257 
(6)
251 
29 
0 
29 
77 
0 
77 
151 
(6)
145 
Restructuring charges
 
 
 
 
 
 
 
 
414 
24 
159 
29 
 
261 
4 
 
109 
0 
 
152 
4 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Payments for Restructuring
 
 
 
 
 
 
 
 
 
 
 
 
 
98 
48 
 
65 
2 
 
33 
46 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Restructuring Reserve, Accrual Adjustment
 
 
 
 
 
 
 
 
 
 
 
 
 
$ 46 
$ 15 
 
$ 40 
$ 2 
 
$ 6 
$ 13 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Restructuring Charges - Fiscal 2012 Restructuring (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 11 Months Ended 12 Months Ended 6 Months Ended 11 Months Ended 12 Months Ended 23 Months Ended 11 Months Ended 12 Months Ended 6 Months Ended 11 Months Ended 12 Months Ended 11 Months Ended 12 Months Ended 23 Months Ended 11 Months Ended 12 Months Ended 23 Months Ended 11 Months Ended 12 Months Ended 11 Months Ended 12 Months Ended 23 Months Ended 11 Months Ended 12 Months Ended 23 Months Ended 11 Months Ended 12 Months Ended 23 Months Ended 11 Months Ended 12 Months Ended 23 Months Ended 11 Months Ended 12 Months Ended 23 Months Ended 11 Months Ended 12 Months Ended 23 Months Ended 11 Months Ended 12 Months Ended 23 Months Ended 11 Months Ended 12 Months Ended 23 Months Ended 11 Months Ended 12 Months Ended 23 Months Ended 11 Months Ended 12 Months Ended 23 Months Ended 11 Months Ended 12 Months Ended 23 Months Ended 11 Months Ended 12 Months Ended 23 Months Ended 11 Months Ended 12 Months Ended 11 Months Ended 12 Months Ended 23 Months Ended 11 Months Ended 12 Months Ended 23 Months Ended 11 Months Ended 12 Months Ended 23 Months Ended 11 Months Ended 12 Months Ended 23 Months Ended 11 Months Ended 12 Months Ended 23 Months Ended 11 Months Ended 12 Months Ended 23 Months Ended 11 Months Ended 12 Months Ended 23 Months Ended 11 Months Ended 12 Months Ended 23 Months Ended 11 Months Ended 12 Months Ended 23 Months Ended 11 Months Ended 12 Months Ended 23 Months Ended 11 Months Ended 12 Months Ended 23 Months Ended 11 Months Ended 12 Months Ended 23 Months Ended 11 Months Ended 12 Months Ended 23 Months Ended 11 Months Ended 12 Months Ended 23 Months Ended 11 Months Ended 12 Months Ended 23 Months Ended
Feb. 1, 2014
Nov. 2, 2013
Aug. 3, 2013
May 4, 2013
Feb. 2, 2013
Nov. 3, 2012
Aug. 4, 2012
May 5, 2012
Feb. 2, 2013
Jan. 28, 2012
Feb. 1, 2014
Mar. 3, 2012
Aug. 3, 2013
Restructuring Program 2012 [Member]
Feb. 2, 2013
Restructuring Program 2012 [Member]
Feb. 1, 2014
Restructuring Program 2012 [Member]
Mar. 3, 2012
Restructuring Program 2012 [Member]
Feb. 1, 2014
Restructuring Program 2012 [Member]
Feb. 2, 2013
Restructuring Program 2012 [Member]
Employee Severance [Member]
Feb. 1, 2014
Restructuring Program 2012 [Member]
Employee Severance [Member]
Mar. 3, 2012
Restructuring Program 2012 [Member]
Employee Severance [Member]
Aug. 3, 2013
Restructuring Program 2012 [Member]
Facility Closing [Member]
Aug. 4, 2012
Restructuring Program 2012 [Member]
Facility Closing [Member]
Feb. 2, 2013
Restructuring Program 2012 [Member]
Facility Closing [Member]
Feb. 1, 2014
Restructuring Program 2012 [Member]
Facility Closing [Member]
Mar. 3, 2012
Restructuring Program 2012 [Member]
Facility Closing [Member]
Feb. 2, 2013
Restructuring Program 2012 [Member]
Domestic Segment [Member]
Feb. 1, 2014
Restructuring Program 2012 [Member]
Domestic Segment [Member]
Mar. 3, 2012
Restructuring Program 2012 [Member]
Domestic Segment [Member]
Feb. 1, 2014
Restructuring Program 2012 [Member]
Domestic Segment [Member]
Feb. 2, 2013
Restructuring Program 2012 [Member]
International [Member]
Feb. 1, 2014
Restructuring Program 2012 [Member]
International [Member]
Mar. 3, 2012
Restructuring Program 2012 [Member]
International [Member]
Feb. 1, 2014
Restructuring Program 2012 [Member]
International [Member]
Feb. 2, 2013
Continuing Operations [Member]
Feb. 1, 2014
Continuing Operations [Member]
Mar. 3, 2012
Continuing Operations [Member]
Feb. 2, 2013
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Feb. 1, 2014
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Mar. 3, 2012
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Feb. 1, 2014
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Feb. 2, 2013
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Property and equipment write-downs [Member]
Feb. 1, 2014
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Property and equipment write-downs [Member]
Mar. 3, 2012
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Property and equipment write-downs [Member]
Feb. 1, 2014
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Property and equipment write-downs [Member]
Feb. 2, 2013
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Employee Severance [Member]
Feb. 1, 2014
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Employee Severance [Member]
Mar. 3, 2012
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Employee Severance [Member]
Feb. 1, 2014
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Employee Severance [Member]
Feb. 2, 2013
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Facility Closing [Member]
Feb. 1, 2014
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Facility Closing [Member]
Mar. 3, 2012
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Facility Closing [Member]
Feb. 1, 2014
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Facility Closing [Member]
Feb. 2, 2013
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Domestic Segment [Member]
Feb. 1, 2014
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Domestic Segment [Member]
Mar. 3, 2012
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Domestic Segment [Member]
Feb. 1, 2014
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Domestic Segment [Member]
Feb. 2, 2013
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Domestic Segment [Member]
Property and equipment write-downs [Member]
Feb. 1, 2014
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Domestic Segment [Member]
Property and equipment write-downs [Member]
Mar. 3, 2012
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Domestic Segment [Member]
Property and equipment write-downs [Member]
Feb. 1, 2014
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Domestic Segment [Member]
Property and equipment write-downs [Member]
Feb. 2, 2013
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Domestic Segment [Member]
Employee Severance [Member]
Feb. 1, 2014
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Domestic Segment [Member]
Employee Severance [Member]
Mar. 3, 2012
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Domestic Segment [Member]
Employee Severance [Member]
Feb. 1, 2014
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Domestic Segment [Member]
Employee Severance [Member]
Feb. 2, 2013
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Domestic Segment [Member]
Facility Closing [Member]
Feb. 1, 2014
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Domestic Segment [Member]
Facility Closing [Member]
Mar. 3, 2012
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Domestic Segment [Member]
Facility Closing [Member]
Feb. 1, 2014
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Domestic Segment [Member]
Facility Closing [Member]
Feb. 2, 2013
Continuing Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Feb. 1, 2014
Continuing Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Mar. 3, 2012
Continuing Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Feb. 1, 2014
Continuing Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Feb. 2, 2013
Continuing Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Property and equipment write-downs [Member]
Feb. 1, 2014
Continuing Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Property and equipment write-downs [Member]
Mar. 3, 2012
Continuing Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Property and equipment write-downs [Member]
Feb. 1, 2014
Continuing Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Property and equipment write-downs [Member]
Feb. 2, 2013
Continuing Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Employee Severance [Member]
Feb. 1, 2014
Continuing Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Employee Severance [Member]
Mar. 3, 2012
Continuing Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Employee Severance [Member]
Feb. 1, 2014
Continuing Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Employee Severance [Member]
Feb. 2, 2013
Continuing Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Facility Closing [Member]
Feb. 1, 2014
Continuing Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Facility Closing [Member]
Mar. 3, 2012
Continuing Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Facility Closing [Member]
Feb. 1, 2014
Continuing Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Facility Closing [Member]
Feb. 2, 2013
Discontinued Operations [Member]
Feb. 1, 2014
Discontinued Operations [Member]
Mar. 3, 2012
Discontinued Operations [Member]
Feb. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Feb. 1, 2014
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Mar. 3, 2012
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Feb. 1, 2014
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Feb. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Property and equipment write-downs [Member]
Feb. 1, 2014
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Property and equipment write-downs [Member]
Mar. 3, 2012
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Property and equipment write-downs [Member]
Feb. 1, 2014
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Property and equipment write-downs [Member]
Feb. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Employee Severance [Member]
Feb. 1, 2014
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Employee Severance [Member]
Mar. 3, 2012
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Employee Severance [Member]
Feb. 1, 2014
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Employee Severance [Member]
Feb. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Facility Closing [Member]
Feb. 1, 2014
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Facility Closing [Member]
Mar. 3, 2012
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Facility Closing [Member]
Feb. 1, 2014
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Facility Closing [Member]
Feb. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Inventory write-downs [Member]
Feb. 1, 2014
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Inventory write-downs [Member]
Mar. 3, 2012
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Inventory write-downs [Member]
Feb. 1, 2014
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Inventory write-downs [Member]
Feb. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Domestic Segment [Member]
Feb. 1, 2014
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Domestic Segment [Member]
Mar. 3, 2012
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Domestic Segment [Member]
Feb. 1, 2014
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Domestic Segment [Member]
Feb. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Domestic Segment [Member]
Property and equipment write-downs [Member]
Feb. 1, 2014
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Domestic Segment [Member]
Property and equipment write-downs [Member]
Mar. 3, 2012
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Domestic Segment [Member]
Property and equipment write-downs [Member]
Feb. 1, 2014
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Domestic Segment [Member]
Property and equipment write-downs [Member]
Feb. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Domestic Segment [Member]
Employee Severance [Member]
Feb. 1, 2014
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Domestic Segment [Member]
Employee Severance [Member]
Mar. 3, 2012
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Domestic Segment [Member]
Employee Severance [Member]
Feb. 1, 2014
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Domestic Segment [Member]
Employee Severance [Member]
Feb. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Domestic Segment [Member]
Facility Closing [Member]
Feb. 1, 2014
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Domestic Segment [Member]
Facility Closing [Member]
Mar. 3, 2012
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Domestic Segment [Member]
Facility Closing [Member]
Feb. 1, 2014
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Domestic Segment [Member]
Facility Closing [Member]
Feb. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Domestic Segment [Member]
Inventory write-downs [Member]
Feb. 1, 2014
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Domestic Segment [Member]
Inventory write-downs [Member]
Mar. 3, 2012
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Domestic Segment [Member]
Inventory write-downs [Member]
Feb. 1, 2014
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Domestic Segment [Member]
Inventory write-downs [Member]
Feb. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Feb. 1, 2014
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Mar. 3, 2012
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Feb. 1, 2014
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Feb. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Property and equipment write-downs [Member]
Feb. 1, 2014
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Property and equipment write-downs [Member]
Mar. 3, 2012
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Property and equipment write-downs [Member]
Feb. 1, 2014
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Property and equipment write-downs [Member]
Feb. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Employee Severance [Member]
Feb. 1, 2014
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Employee Severance [Member]
Mar. 3, 2012
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Employee Severance [Member]
Feb. 1, 2014
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Employee Severance [Member]
Feb. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Facility Closing [Member]
Feb. 1, 2014
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Facility Closing [Member]
Mar. 3, 2012
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Facility Closing [Member]
Feb. 1, 2014
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Facility Closing [Member]
Feb. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Inventory write-downs [Member]
Feb. 1, 2014
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Inventory write-downs [Member]
Mar. 3, 2012
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Inventory write-downs [Member]
Feb. 1, 2014
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Inventory write-downs [Member]
Restructuring Cost and Reserve [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Restructuring Reserve
 
 
 
 
 
 
 
 
 
 
 
 
 
$ 36 
$ 0 
$ 102 
$ 0 
$ 0 
$ 0 
$ 17 
 
 
$ 36 
$ 0 
$ 85 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Restructuring charges
115 
31 
7 
6 
169 
34 
91 
127 
449 
280 
259 
287 
5 
(2)
5 
243 
 
 
 
 
 
 
 
 
 
(1)
0 
23 
 
(1)
5 
220 
 
415 
159 
48 
(1)
0 
28 
 
0 
0 
22 
 
0 
0 
1 
 
(1)
0 
5 
 
(1)
0 
23 
 
0 
0 
17 
 
0 
0 
1 
 
(1)
0 
5 
 
0 
0 
5 
 
0 
0 
5 
 
0 
0 
0 
 
0 
0 
0 
 
34 
100 
239 
(1)
5 
215 
 
0 
0 
106 
 
1 
0 
16 
 
(2)
5 
82 
 
0 
0 
11 
 
0 
0 
0 
 
0 
0 
0 
 
0 
0 
0 
 
0 
0 
0 
 
0 
0 
0 
 
(1)
5 
215 
 
0 
0 
106 
 
1 
0 
16 
 
(2)
5 
82 
 
0 
0 
11 
 
Restructuring Reserve, Accrual Adjustment, Write-off Related to Sale of Business
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
6 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Restructuring and Related Cost, Cost Incurred to Date
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
246 
 
 
 
 
 
 
 
 
 
 
 
22 
 
 
 
224 
 
 
 
 
 
 
27 
 
 
 
22 
 
 
 
1 
 
 
 
4 
 
 
 
22 
 
 
 
17 
 
 
 
1 
 
 
 
4 
 
 
 
5 
 
 
 
5 
 
 
 
0 
 
 
 
0 
 
 
 
 
 
 
219 
 
 
 
106 
 
 
 
17 
 
 
 
85 
 
 
 
11 
 
 
 
0 
 
 
 
0 
 
 
 
0 
 
 
 
0 
 
 
 
0 
 
 
 
219 
 
 
 
106 
 
 
 
17 
 
 
 
85 
 
 
 
11 
Restructuring charges
 
 
 
 
 
 
 
 
414 
24 
159 
29 
 
3 
 
 
 
1 
 
 
 
 
2 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Payments for Restructuring
 
 
 
 
 
 
 
 
 
 
 
 
 
101 
33 
 
 
18 
0 
 
 
 
83 
33 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Restructuring Reserve, Accrual Adjustment
 
 
 
 
 
 
 
 
 
 
 
 
 
28 
(1)
 
 
0 
0 
 
 
(34)
28 1
(1)2
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Restructuring Reserve, Translation Adjustment
 
 
 
 
 
 
 
 
 
 
 
 
 
$ 4 
$ (2)
 
 
$ 0 
$ 0 
 
 
 
$ 4 
$ (2)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Restructuring Charges - Fiscal 2011 Restructuring (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 11 Months Ended 12 Months Ended
Feb. 1, 2014
Nov. 2, 2013
Aug. 3, 2013
May 4, 2013
Feb. 2, 2013
Nov. 3, 2012
Aug. 4, 2012
May 5, 2012
Feb. 2, 2013
Jan. 28, 2012
Feb. 1, 2014
Mar. 3, 2012
Restructuring Cost and Reserve [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
Restructuring charges
$ 115 
$ 31 
$ 7 
$ 6 
$ 169 
$ 34 
$ 91 
$ 127 
$ 449 
$ 280 
$ 259 
$ 287 
Restructuring Program 2011 [Member]
 
 
 
 
 
 
 
 
 
 
 
 
Restructuring Cost and Reserve [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
Restructuring charges
 
 
 
 
 
 
 
 
$ (13)
 
 
$ 44 
Debt - Short-Term Debt (Details)
In Millions, unless otherwise specified
11 Months Ended 12 Months Ended 12 Months Ended
Feb. 2, 2013
USD ($)
Feb. 1, 2014
USD ($)
Feb. 1, 2014
U.S. revolving credit facility [Member]
USD ($)
Feb. 1, 2014
New U.S. revolving credit facility, 364 Day [Member] [Domain]
Aug. 3, 2013
New U.S. revolving credit facility, 364 Day [Member] [Domain]
Feb. 1, 2014
U.S. revolving credit facility - 364-Day [Member]
USD ($)
Feb. 1, 2014
U.S. revolving credit facility - Five-Year [Member]
Oct. 31, 2011
U.S. revolving credit facility - Five-Year [Member]
USD ($)
Feb. 1, 2014
JPMorgan revolving credit facility [Member]
USD ($)
Feb. 1, 2014
Europe revolving credit facility [Member]
USD ($)
Feb. 1, 2014
Europe revolving credit facility [Member]
GBP (£)
Feb. 2, 2013
Europe revolving credit facility [Member]
USD ($)
Feb. 1, 2014
Canada revolving demand facility [Member]
USD ($)
Feb. 1, 2014
China revolving demand facilities [Member]
USD ($)
Feb. 1, 2014
Notes due 2018 [Member]
Short-term Debt
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Redemption price upon control triggering event, percentage of principal amount (as a percent)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
101.00% 
Short-term debt
$ 596 
$ 0 
 
 
 
 
 
 
 
$ 0 
 
$ 596 
 
 
 
Weighted-average interest rate (as a percent)
 
 
 
 
 
 
 
 
 
   
   
2.00% 
 
 
 
Maximum month-end outstanding during the year
596 1
597 1
 
 
 
 
 
 
 
 
 
 
 
 
 
Average amount outstanding during the year
477 1
135 1
 
 
 
 
 
 
 
 
 
 
 
 
 
Line of credit facility, current borrowing capacity
 
 
2,000 
 
 
500 
 
1,500 
1,000 
 
400 
 
 
 
 
Line of credit facility, amount outstanding
 
 
0 
 
 
 
 
 
 
 
 
 
0 
0 
 
Line of credit facility, maximum borrowing capacity
 
 
2,500 
 
 
 
 
 
 
 
 
 
4 
158 
 
Line of credit facility, letter of credit sublimit
 
 
$ 300 
 
 
 
 
 
 
 
 
 
 
 
 
Debt instrument, basis spread on federal funds rate (as a percent)
 
 
 
0.50% 
 
 
0.50% 
 
 
 
 
 
 
 
 
Debt instrument, basis spread on LIBOR (as a percent)
 
 
 
1.00% 
 
 
1.00% 
 
 
 
 
 
 
 
 
Debt instrument, lower range on ABR (as a percent)
 
 
 
 
0.00% 
 
0.00% 
 
 
 
 
 
 
 
 
Debt instrument, higher range on ABR (as a percent)
 
 
 
 
0.60% 
 
0.475% 
 
 
 
 
 
 
 
 
LIBOR margin, low end of the range (as a percent)
 
 
 
 
0.925% 
 
0.875% 
 
 
 
 
 
 
 
 
LIBOR margin, high end of the range (as a percent)
 
 
 
 
1.60% 
 
1.475% 
 
 
 
 
 
 
 
 
Debt instrument, lower range on facility fee (as a percent)
 
 
 
 
0.075% 
 
0.125% 
 
 
 
 
 
 
 
 
Debt instrument, higher range on facility fee (as a percent)
 
 
 
 
0.275% 
 
0.275% 
 
 
 
 
 
 
 
 
Debt - Long-Term Debt (Details) (USD $)
In Millions, unless otherwise specified
1 Months Ended 12 Months Ended 1 Months Ended 12 Months Ended
Feb. 1, 2014
Feb. 2, 2013
Feb. 1, 2014
2013 Notes [Member]
Jul. 15, 2013
2013 Notes [Member]
Feb. 2, 2013
2013 Notes [Member]
Mar. 31, 2011
2016 and 2021 Notes [Member]
Feb. 1, 2014
2016 and 2021 Notes [Member]
Feb. 1, 2014
2016 Notes [Member]
Feb. 2, 2013
2016 Notes [Member]
Mar. 31, 2011
2016 Notes [Member]
Jul. 31, 2013
Notes due 2018 [Member]
Feb. 1, 2014
Notes due 2018 [Member]
Jul. 16, 2013
Notes due 2018 [Member]
Feb. 2, 2013
Notes due 2018 [Member]
Feb. 1, 2014
2021 Notes [Member]
Feb. 2, 2013
2021 Notes [Member]
Mar. 31, 2011
2021 Notes [Member]
Feb. 1, 2014
Financing Lease Obligations [Member]
Feb. 2, 2013
Financing Lease Obligations [Member]
Feb. 1, 2014
Capital Lease Obligations [Member]
Feb. 2, 2013
Capital Lease Obligations [Member]
Feb. 1, 2014
Other debt [Member]
Feb. 2, 2013
Other debt [Member]
Feb. 1, 2014
Minimum [Member]
Financing Lease Obligations [Member]
Feb. 1, 2014
Minimum [Member]
Capital Lease Obligations [Member]
Feb. 1, 2014
Minimum [Member]
Other debt [Member]
Feb. 1, 2014
Maximum [Member]
Financing Lease Obligations [Member]
Feb. 1, 2014
Maximum [Member]
Capital Lease Obligations [Member]
Feb. 1, 2014
Notes due 2018 [Member]
Long-term Debt.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total long-term debt
$ 1,657 
$ 1,700 
$ 0 
$ 500 
$ 500 
 
 
$ 349 
$ 349 
 
 
$ 500 
 
$ 0 
$ 649 
$ 648 
 
$ 95 
$ 122 
$ 63 
$ 80 
$ 1 
$ 1 
 
 
 
 
 
 
Less: current portion
(45)
(547)1
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total long-term debt, less current portion
1,612 
1,153 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Long-term debt, fair value
1,690 
1,652 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Debt instrument issued, principal amount
 
 
 
 
 
 
 
 
 
350 
 
 
500 
 
 
 
650 
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate (as a percent)
 
 
 
 
 
 
 
3.75% 
 
 
 
 
5.00% 
 
5.50% 
 
 
 
 
 
 
6.70% 
 
3.00% 
1.90% 
   
8.10% 
9.30% 
 
Underwriting discounts
 
 
 
 
 
6 
 
 
 
 
5 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net proceeds from the sale of the Notes
 
 
 
 
 
990 
 
 
 
 
495 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Redemption price, as percentage of principal amount of debt instrument (as a percent)
 
 
 
 
 
 
100.00% 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
100.00% 
Debt Instrument, Treasury Rate Basis Points for Redemption
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
50 
Redemption price upon control triggering event, percentage of principal amount (as a percent)
 
 
 
 
 
 
101.00% 
 
 
 
 
101.00% 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Future maturities of long-term debt, including capitalized leases
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2015
45 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2016
38 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2017
372 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2018
16 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2019
509 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Thereafter
$ 677 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Shareholders' Equity (Details) (USD $)
In Millions, except Share data, unless otherwise specified
11 Months Ended 12 Months Ended
Feb. 2, 2013
Feb. 1, 2014
Mar. 3, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
Number of shares authorized under the Omnibus Plan (in shares)
 
64,500,000 
 
Share-based Compensation Arrangement by Share-based Payment Award, Number of Restricted Stock Awards, Restricted Stock Units, Dividend Equivalents Settled in Shares and Other Stock Grants Authorized
 
26,300,000 
 
Number of shares available for future grants under the Omnibus Plan (in shares)
 
19,100,000 
 
Share-based Compensation Arrangement by Share-based Payment Award, Number of Restricted Shares Available for Grant
 
10,000,000 
 
Stock-based compensation expense (in dollars)
$ 112 
$ 97 
$ 120 
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
 
 
 
Outstanding at the beginning of the period (in shares)
 
29,983,000 
 
Granted (in shares)
 
2,741,000 
 
Exercised (in shares)
 
(5,169,000)
 
Forfeited/Canceled (in shares)
 
(5,454,000)
 
Outstanding at the end of the period (in shares)
29,983,000 
22,101,000 
 
Vested or expected to vest at the end of the period (in shares)
 
21,597,000 
 
Exercisable at the end of the period (in shares)
 
16,926,000 
 
Weighted Average Exercise Price [Roll Forward]
 
 
 
Outstanding at the beginning of the period (in dollars per share)
 
$ 36.93 
 
Granted (in dollars per share)
 
$ 22.53 
 
Exercised (in dollars per share)
 
$ 31.21 
 
Forfeited/Canceled (in dollars per share)
 
$ 37.36 
 
Outstanding at the end of the period (in dollars per share)
$ 36.93 
$ 36.38 
 
Vested or expected to vest at the end of the period (in dollars per share)
 
$ 36.68 
 
Exercisable at the end of the period (in dollars per share)
 
$ 40.11 
 
Weighted Average Remaining Contractual Term, Years [Abstract]
 
 
 
Outstanding at the end of the period (in years)
 
5 years 4 months 24 days 
 
Vested or expected to vest at the end of the period (in years)
 
5 years 3 months 18 days 
 
Exercisable at the end of the period (in years)
 
4 years 4 months 24 days 
 
Aggregate Intrinsic Value [Abstract]
 
 
 
Outstanding at the end of the period (in dollars)
 
16 
 
Vested or expected to vest at the end of the period (in dollars)
 
16 
 
Exercisable at the end of the period (in dollars)
 
5 
 
Weighted-average grant-date fair value of stock options granted (in dollars per share)
$ 5.11 
$ 7.77 
$ 7.94 
Aggregate intrinsic value of stock options exercised (in dollars)
0 
39 
6 
Net cash proceeds from the exercise of stock options (in dollars)
1 
158 
27 
Actual income tax benefit realized from stock option exercises (in dollars)
0 
13 
2 
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
 
 
 
Expected dividend yield (as a percent)
2.20% 1
2.00% 1
2.30% 1
Expected stock price volatility (as a percent)
44.00% 1 2
46.00% 1 2
37.00% 1 2
Expected life of stock options (in years)
5 years 10 months 24 days 1 3
5 years 10 months 24 days 1 3
6 years 2 months 12 days 1 3
Employee Stock Option [Member]
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
Term of stock options (in years)
 
10 years 
 
Vesting period (in years)
 
4 years 
 
Stock-based compensation expense (in dollars)
43 
25 
76 
Aggregate Intrinsic Value [Abstract]
 
 
 
Unrecognized compensation (in dollars)
 
29 
 
Weighted-average period over which compensation expense is expected to be recognized (in years)
 
1 year 2 months 12 days 
 
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
 
 
 
Risk-free interest rate low end of the range (as a percent)
0.10% 1 4
0.10% 1 4
0.10% 1 4
Risk-free interest rate high end of the range (as a percent)
2.00% 1 4
1.80% 1 4
3.60% 1 4
Market-based [Member]
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
Stock-based compensation expense (in dollars)
2 
9 
0 
Aggregate Intrinsic Value [Abstract]
 
 
 
Unrecognized compensation (in dollars)
 
21 
 
Weighted-average period over which compensation expense is expected to be recognized (in years)
 
2 years 
 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
 
 
 
Outstanding at the beginning of the period (in shares)
 
805,000 
 
Granted (in shares)
 
1,044,000 
 
Vested (in shares)
 
(20,000)
 
Forfeited/Canceled (in shares)
 
(193,000)
 
Outstanding at the end of the period (in shares)
805,000 
1,636,000 
 
Weighted Average Fair Value Per Share [Roll Forward]
 
 
 
Outstanding at the beginning of the period (in dollars per share)
 
$ 16.76 
 
Granted (in dollars per share)
 
$ 24.26 
 
Vested (in dollars per share)
 
$ 19.89 
 
Forfeited/Canceled (in dollars per share)
 
$ 21.82 
 
Outstanding at the end of the period (in dollars per share)
$ 16.76 
$ 20.91 
 
Time-based [Member]
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
Share-based Payment Award, Award Vesting Period, Minimum
 
3 years 
 
Share-based Payment Award, Award Vesting Period, Maximum
 
4 years 
 
Vesting percentage per increment, options vesting in annual increments
 
25% of the award vests on the date of grant and 25% vests on each of the three anniversary dates thereafter 
 
Annual vesting percentage, options vesting in annual increments
 
25.00% 
 
Stock-based compensation expense (in dollars)
62 
62 
33 
Aggregate Intrinsic Value [Abstract]
 
 
 
Unrecognized compensation (in dollars)
 
93 
 
Weighted-average period over which compensation expense is expected to be recognized (in years)
 
1 year 9 months 18 days 
 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
 
 
 
Outstanding at the beginning of the period (in shares)
 
7,751,000 
 
Granted (in shares)
 
3,433,000 
 
Vested (in shares)
 
(2,642,000)
 
Forfeited/Canceled (in shares)
 
(1,477,000)
 
Outstanding at the end of the period (in shares)
7,751,000 
7,065,000 
 
Weighted Average Fair Value Per Share [Roll Forward]
 
 
 
Outstanding at the beginning of the period (in dollars per share)
 
$ 21.05 
 
Granted (in dollars per share)
 
$ 22.99 
 
Vested (in dollars per share)
 
$ 22.06 
 
Forfeited/Canceled (in dollars per share)
 
$ 21.61 
 
Outstanding at the end of the period (in dollars per share)
$ 21.05 
$ 21.49 
 
Employee Stock [Member]
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
Issuance of common stock under employee stock purchase plan (in shares)
1,000,000 
600,000 
1,400,000 
Discounted purchase rate on the market price of the stock (as a percent)
15.00% 
5.00% 
15.00% 
Stock-based compensation expense (in dollars)
5 
1 
11 
Weighted Average Fair Value Per Share [Roll Forward]
 
 
 
Amount accumulated by plan participants to purchase common stock (in dollars)
$ 4 
$ 2 
 
Shareholders' Equity (Details 2) (USD $)
1 Months Ended 3 Months Ended 11 Months Ended 12 Months Ended
Jan. 31, 2012
Jun. 30, 2011
Jan. 31, 2011
Jun. 30, 2007
Feb. 1, 2014
Nov. 2, 2013
Aug. 3, 2013
May 4, 2013
Feb. 2, 2013
Nov. 3, 2012
Aug. 4, 2012
May 5, 2012
Feb. 2, 2013
Jan. 28, 2012
Feb. 1, 2014
Mar. 3, 2012
Feb. 26, 2011
Outstanding Options to Purchase Common Stock [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net cash proceeds from the exercise of stock options (in dollars)
 
 
 
 
 
 
 
 
 
 
 
 
$ 1,000,000 
 
$ 158,000,000 
$ 27,000,000 
 
Weighted-average grant-date fair value of stock options granted (in dollars per share)
 
 
 
 
 
 
 
 
 
 
 
 
$ 5.11 
 
$ 7.77 
$ 7.94 
 
Exercisable stock options (in shares)
 
 
 
 
16,926,000 
 
 
 
 
 
 
 
 
 
16,926,000 
 
 
Percentage of exercisable stock options (as a percent)
 
 
 
 
100.00% 
 
 
 
 
 
 
 
 
 
100.00% 
 
 
Exercisable stock options, weighted-average price (in dollars per share)
 
 
 
 
$ 40.11 
 
 
 
 
 
 
 
 
 
$ 40.11 
 
 
Unexercisable stock options (in shares)
 
 
 
 
5,200,000.0 
 
 
 
 
 
 
 
 
 
5,200,000.0 
 
 
Percentage of unexercisable stock options (as a percent)
 
 
 
 
100.00% 
 
 
 
 
 
 
 
 
 
100.00% 
 
 
Unexercisable stock options, weighted-average price (in dollars per share)
 
 
 
 
$ 24.16 
 
 
 
 
 
 
 
 
 
$ 24.16 
 
 
Total outstanding stock options (in shares)
 
 
 
 
22,101,000 
 
 
 
29,983,000 
 
 
 
29,983,000 
 
22,101,000 
 
 
Percentage of outstanding stock options (as a percent)
 
 
 
 
100.00% 
 
 
 
 
 
 
 
 
 
100.00% 
 
 
Outstanding stock options, weighted-average price (in dollars per share)
 
 
 
 
$ 36.38 
 
 
 
$ 36.93 
 
 
 
$ 36.93 
 
$ 36.38 
 
 
Numerator [Abstract]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income (Loss) from Continuing Operations, Including Portion Attributable to Noncontrolling Interest
(13,000,000)
 
0 
 
311,000,000 
44,000,000 
237,000,000 
97,000,000 
(460,000,000)
(9,000,000)
30,000,000 
169,000,000 
(467,000,000)1 2
1,217,000,000 
689,000,000 
1,424,000,000 
 
Net (earnings) from continuing operations attributable to noncontrolling interests
 
 
 
 
 
 
 
 
 
 
 
 
(2,000,000)2
(3,000,000)
(2,000,000)
(3,000,000)
 
Net (loss) earnings from continuing operations attributable to Best Buy Co., Inc., basic
 
 
 
 
 
 
 
 
 
 
 
 
(469,000,000)2
 
687,000,000 
1,421,000,000 
 
Adjustment for assumed dilution:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest on convertible debentures due in 2022, net of tax
 
 
 
 
 
 
 
 
 
 
 
 
0 2
 
0 
5,000,000 
 
Net earnings from continuing operations attributable to Best Buy Co., Inc., diluted
 
 
 
 
 
 
 
 
 
 
 
 
(469,000,000)2
 
687,000,000 
1,426,000,000 
 
Denominator [Abstract]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted-average common shares outstanding (in shares)
 
 
 
 
 
 
 
 
 
 
 
 
338,600,000 2
372,500,000 
342,100,000 
366,300,000 
 
Effect of Potentially Dilutive Securities [Abstract]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Shares from assumed conversion of convertible debentures (in shares)
 
 
 
 
 
 
 
 
 
 
 
 
0 2
 
0 
7,600,000 
 
Stock options and other (in shares)
 
 
 
 
 
 
 
 
 
 
 
 
0 2
 
5,500,000 
600,000 
 
Weighted-average common shares outstanding, assuming dilution (in shares)
 
 
 
 
 
 
 
 
 
 
 
 
338,600,000 2
382,000,000 
347,600,000 
374,500,000 
 
Earnings per share attributable to Best Buy Co., Inc.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic (in dollars per share)
 
 
 
 
 
 
 
 
 
 
 
 
$ (1.38)2
$ 3.26 
$ 2.01 
$ 3.88 
 
Diluted (in dollars per share)
 
 
 
 
$ 0.88 
$ 0.12 
$ 0.69 
$ 0.29 
$ (1.36)
$ (0.03)
$ 0.09 
$ 0.49 
$ (1.38)1 2
$ 3.19 
$ 1.98 
$ 3.81 
 
Share repurchases authorized (in shares)
 
5,000,000,000 
 
5,500,000,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Foreign currency translation
 
 
 
 
485,000,000 
 
 
 
113,000,000 
 
 
 
113,000,000 
104,000,000 
485,000,000 
93,000,000 
102,000,000 
Unrealized gains (losses) on available-for-sale investments
 
 
 
 
7,000,000 
 
 
 
(1,000,000)
 
 
 
(1,000,000)
(3,000,000)
7,000,000 
(3,000,000)
71,000,000 
Total
 
 
 
 
492,000,000 
 
 
 
112,000,000 
 
 
 
112,000,000 
101,000,000 
492,000,000 
90,000,000 
173,000,000 
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Total Intrinsic Value
 
 
 
 
 
 
 
 
 
 
 
 
0 
 
39,000,000 
6,000,000 
 
Actual income tax benefit realized from stock option exercises (in dollars)
 
 
 
 
 
 
 
 
 
 
 
 
0 
 
13,000,000 
2,000,000 
 
In-the-money [Member]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Outstanding Options to Purchase Common Stock [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Exercisable stock options (in shares)
 
 
 
 
2,600,000.0 
 
 
 
 
 
 
 
 
 
2,600,000.0 
 
 
Percentage of exercisable stock options (as a percent)
 
 
 
 
15.00% 
 
 
 
 
 
 
 
 
 
15.00% 
 
 
Exercisable stock options, weighted-average price (in dollars per share)
 
 
 
 
$ 23.84 
 
 
 
 
 
 
 
 
 
$ 23.84 
 
 
Unexercisable stock options (in shares)
 
 
 
 
4,300,000.0 
 
 
 
 
 
 
 
 
 
4,300,000.0 
 
 
Percentage of unexercisable stock options (as a percent)
 
 
 
 
83.00% 
 
 
 
 
 
 
 
 
 
83.00% 
 
 
Unexercisable stock options, weighted-average price (in dollars per share)
 
 
 
 
$ 21.45 
 
 
 
 
 
 
 
 
 
$ 21.45 
 
 
Total outstanding stock options (in shares)
 
 
 
 
6,900,000.0 
 
 
 
 
 
 
 
 
 
6,900,000.0 
 
 
Percentage of outstanding stock options (as a percent)
 
 
 
 
31.00% 
 
 
 
 
 
 
 
 
 
31.00% 
 
 
Outstanding stock options, weighted-average price (in dollars per share)
 
 
 
 
$ 22.36 
 
 
 
 
 
 
 
 
 
$ 22.36 
 
 
Out-of-the-money [Member]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Outstanding Options to Purchase Common Stock [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Exercisable stock options (in shares)
 
 
 
 
14,300,000.0 
 
 
 
 
 
 
 
 
 
14,300,000.0 
 
 
Percentage of exercisable stock options (as a percent)
 
 
 
 
85.00% 
 
 
 
 
 
 
 
 
 
85.00% 
 
 
Exercisable stock options, weighted-average price (in dollars per share)
 
 
 
 
$ 43.14 
 
 
 
 
 
 
 
 
 
$ 43.14 
 
 
Unexercisable stock options (in shares)
 
 
 
 
900,000.0 
 
 
 
 
 
 
 
 
 
900,000.0 
 
 
Percentage of unexercisable stock options (as a percent)
 
 
 
 
17.00% 
 
 
 
 
 
 
 
 
 
17.00% 
 
 
Unexercisable stock options, weighted-average price (in dollars per share)
 
 
 
 
$ 36.91 
 
 
 
 
 
 
 
 
 
$ 36.91 
 
 
Total outstanding stock options (in shares)
 
 
 
 
15,200,000.0 
 
 
 
 
 
 
 
 
 
15,200,000.0 
 
 
Percentage of outstanding stock options (as a percent)
 
 
 
 
69.00% 
 
 
 
 
 
 
 
 
 
69.00% 
 
 
Outstanding stock options, weighted-average price (in dollars per share)
 
 
 
 
$ 42.77 
 
 
 
 
 
 
 
 
 
$ 42.77 
 
 
June 2011 share repurchase program [Member}
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Outstanding Options to Purchase Common Stock [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Amounting remaining for additional share repurchases
 
 
 
 
 
 
 
 
 
 
 
 
 
 
4,000,000,000 
 
 
Open Market Repurchases [Abstract]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total number of shares repurchased
 
 
 
 
 
 
 
 
 
 
 
 
6,300,000 
 
0 
34,500,000 
 
Total cost of shares repurchased
 
 
 
 
 
 
 
 
 
 
 
 
122,000,000 
 
0 
889,000,000 
 
June 2007 share repurchase program [Member]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Open Market Repurchases [Abstract]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total number of shares repurchased
 
 
 
 
 
 
 
 
 
 
 
 
0 
 
0 
20,100,000 
 
Total cost of shares repurchased
 
 
 
 
 
 
 
 
 
 
 
 
0 
 
0 
611,000,000 
 
Market-based [Member]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Outstanding Options to Purchase Common Stock [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unrecognized compensation (in dollars)
 
 
 
 
$ 21,000,000 
 
 
 
 
 
 
 
 
 
$ 21,000,000 
 
 
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted-average period over which compensation expense is expected to be recognized (in years)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2 years 
 
 
Employee Stock [Member]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Outstanding Options to Purchase Common Stock [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Issuance of common stock under employee stock purchase plan (in shares)
 
 
 
 
 
 
 
 
 
 
 
 
1,000,000 
 
600,000 
1,400,000 
 
Shareholders' Equity - Components of Accumulated Other Comprehensive Income (Details) (USD $)
In Millions, unless otherwise specified
1 Months Ended 11 Months Ended 12 Months Ended 11 Months Ended 12 Months Ended
Mar. 3, 2012
Feb. 2, 2013
Feb. 1, 2014
Mar. 3, 2012
Jan. 28, 2012
Feb. 26, 2011
Feb. 2, 2013
Parent [Member]
Feb. 1, 2014
Parent [Member]
Feb. 2, 2013
Parent [Member]
Mar. 3, 2012
Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
 
 
 
 
 
 
 
 
 
 
Foreign currency translation
$ 93 
$ 113 
$ 485 
$ 93 
$ 104 
$ 102 
 
 
 
 
Accumulated Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax
(3)
(1)
7 
(3)
(3)
71 
 
 
 
 
Accumulated other comprehensive income
90 
112 
492 
90 
101 
173 
 
 
 
 
Foreign currency translation adjustments
11 
15 
 
(21)
 
 
9 
(136)
9 
(9)
Unrealized gain (loss) on available-for-sale investments
0 
2 
6 
(26)
 
 
2 
7 
2 
(26)
Reclassification of foreign currency translations adjustments into earnings due to sale of business
 
0 
654 
0 
 
 
 
508 
 
 
Other Comprehensive Income (Loss), Adjustments, Net of Tax
11 
 
 
 
 
 
 
 
 
 
Reclassification of gains (losses) on available-for-sale investments into earnings
 
 
$ 2 
$ (48)
 
 
 
$ 1 
 
$ (48)
Leases (Details) (USD $)
11 Months Ended 12 Months Ended
Feb. 2, 2013
Feb. 1, 2014
Mar. 3, 2012
Operating Leases, Rent Expense, Net [Abstract]
 
 
 
Minimum rentals
$ 890,000,000 
$ 951,000,000 
$ 980,000,000 
Contingent rentals
1,000,000 
2,000,000 
2,000,000 
Total rent expense
891,000,000 
953,000,000 
982,000,000 
Less: sublease income
(16,000,000)
(18,000,000)
(18,000,000)
Net rent expense
875,000,000 
935,000,000 
964,000,000 
Future minimum lease payments under capital leases
 
 
 
2015
 
26,000,000 
 
2016
 
18,000,000 
 
2017
 
8,000,000 
 
2018
 
3,000,000 
 
2019
 
2,000,000 
 
Thereafter
 
17,000,000 
 
Subtotal
 
74,000,000 
 
Less: imputed interest
 
(11,000,000)
 
Present value
 
63,000,000 
 
Future minimum lease payments under financing leases
 
 
 
2015
 
27,000,000 
 
2016
 
25,000,000 
 
2017
 
19,000,000 
 
2018
 
15,000,000 
 
2019
 
9,000,000 
 
Thereafter
 
17,000,000 
 
Subtotal
 
112,000,000 
 
Less: imputed interest
 
(17,000,000)
 
Present value
 
95,000,000 
 
Future minimum lease payments under operating leases
 
 
 
2015
 
1,027,000,000 1
 
2016
 
931,000,000 1
 
2017
 
807,000,000 1
 
2018
 
656,000,000 1
 
2019
 
496,000,000 1
 
Thereafter
 
1,116,000,000 1
 
Subtotal
 
5,033,000,000 1
 
Other Operating Lease Payments
 
1,500,000,000 
 
Minimum sublease rent income excluded from minimum lease payments
 
$ 160,000,000 
 
Benefit Plans (Details) (USD $)
In Millions, unless otherwise specified
11 Months Ended 12 Months Ended
Feb. 2, 2013
Feb. 1, 2014
Mar. 3, 2012
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
 
 
 
Maximum percentage of a participant's eligible compensation that a participant may contribute annually to the plan (as a percent)
 
50.00% 
 
Percentage of matching contribution made by company, of first 3% of participating employees contributions (as a percent)
 
100.00% 
 
Percentage of participating employees contribution, matched 100% (as a percent)
 
3.00% 
 
Percentage of matching contribution made by company, of next 2% of participating employees' contributions (as a percent)
 
50.00% 
 
Percentage of participating employees contribution, matched 50% (as a percent)
 
2.00% 
 
Employer contribution
$ 62 
$ 65 
$ 69 
Non-qualified, unfunded deferred compensation plan [Member]
 
 
 
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
 
 
 
Deferred compensation liability
58 
54 
 
Deferred compensation plan assets
$ 88 
$ 96 
 
Income Taxes - Tax Rate Reconciliation (Details) (USD $)
In Millions, unless otherwise specified
11 Months Ended 12 Months Ended
Feb. 2, 2013
Jan. 28, 2012
Feb. 1, 2014
Mar. 3, 2012
Reconciliation of the federal statutory income tax rate to income tax expense
 
 
 
 
Federal income tax at the statutory rate
$ (70)
 
$ 380 
$ 758 
State income taxes, net of federal benefit
(2)
 
25 
47 
(Benefit) expense from foreign operations
49 
 
(13)
(63)
Other
5 
 
6 
0 
Goodwill impairments (non-deductible)
287 
 
0 
0 
Income tax expense
$ 269 
$ 658 
$ 398 
$ 742 
Effective income tax rate
(135.80%)
 
36.70% 
34.30% 
Income Taxes - Income Tax Expense (Details) (USD $)
In Millions, unless otherwise specified
11 Months Ended 12 Months Ended
Feb. 2, 2013
Jan. 28, 2012
Feb. 1, 2014
Mar. 3, 2012
Earnings from continuing operations before income tax expense and equity in (loss) income of affiliates
 
 
 
 
United States
$ 279 
 
$ 687 
$ 1,644 
Outside the United States
(477)
 
400 
522 
Earnings (loss) from continuing operations before income tax expense and equity in income (loss) of affiliates
(198)
1,875 
1,087 
2,166 
Current:
 
 
 
 
Federal
204 
 
306 
520 
State
(1)
 
45 
61 
Foreign
66 
 
64 
72 
Current income tax expense
269 
 
415 
653 
Deferred:
 
 
 
 
Federal
26 
 
(21)
86 
State
(3)
 
1 
11 
Foreign
(23)
 
3 
(8)
Deferred income tax expense
0 
 
(17)
89 
Income tax expense
$ 269 
$ 658 
$ 398 
$ 742 
Income Taxes - Components of Deferreds (Details) (USD $)
In Millions, unless otherwise specified
Feb. 1, 2014
Feb. 2, 2013
Components of deferred tax assets and liabilities
 
 
Accrued property expenses
$ 162 
$ 194 
Other accrued expenses
133 
119 
Deferred revenue
81 
153 
Compensation and benefits
114 
95 
Stock-based compensation
110 
137 
Loss and credit carryforwards
176 
266 
Other
103 
125 
Total deferred tax assets
879 
1,089 
Valuation allowance
(158)
(228)
Total deferred tax assets after valuation allowance
721 
861 
Property and equipment
(286)
(343)
Goodwill and intangibles
(75)
(127)
Inventory
(60)
(90)
Other
(16)
(22)
Total deferred tax liabilities
(437)
(582)
Net deferred tax assets
284 
279 
Other current assets
261 
228 
Other assets
44 
66 
Other current liabilities
0 
(5)
Other long-term liabilities
(21)
(10)
Net deferred tax assets
$ 284 
$ 279 
Income Taxes - Tax Credit and Operating Loss Carryforwards (Details) (USD $)
12 Months Ended
Feb. 1, 2014
Feb. 2, 2013
Tax Credit Carryforward [Line Items]
 
 
Valuation allowance
$ 158,000,000 
$ 228,000,000 
Decrease in the valuation allowance, related to the international net operating loss carryforwards and other international deferred tax assets
(70,000,000)
 
Unremitted earnings of foreign operations
1,400,000,000 
 
State [Member]
 
 
Tax Credit Carryforward [Line Items]
 
 
Tax credit carryforwards
12,000,000 
 
Tax credit carryforwards, valuation allowance
3,000,000 
 
Capital Loss Carryforwards [Member] |
State [Member]
 
 
Tax Credit Carryforward [Line Items]
 
 
Tax credit carryforwards
4,000,000 
 
Capital Loss Carryforwards [Member] |
U.S. and State [Member]
 
 
Tax Credit Carryforward [Line Items]
 
 
Tax credit carryforwards, valuation allowance
13,000,000 
 
Federal [Member] |
U.S. [Member]
 
 
Tax Credit Carryforward [Line Items]
 
 
Total net operating loss carryforwards
23,000,000 
 
Federal [Member] |
Foreign Tax Credit Carryforwards [Member] |
U.S. [Member]
 
 
Tax Credit Carryforward [Line Items]
 
 
Tax credit carryforwards
12,000,000 
 
Tax credit carryforwards, valuation allowance
11,000,000 
 
International [Member]
 
 
Tax Credit Carryforward [Line Items]
 
 
Total net operating loss carryforwards
125,000,000 
 
Net operating loss carryforwards subject to expiration
117,000,000 
 
Net operating loss carryforwards, valuation allowance
$ 131,000,000 
 
Income Taxes - Unrecognized Tax Benefits (Details) (USD $)
In Millions, unless otherwise specified
11 Months Ended 12 Months Ended
Feb. 2, 2013
Feb. 1, 2014
Mar. 3, 2012
Reconciliation of changes in unrecognized tax benefits
 
 
 
Balance at beginning of period
$ 387 
$ 383 
$ 359 
Gross increases related to prior period tax positions
10 
38 
69 
Gross decreases related to prior period tax positions
(22)
(67)
(35)
Gross increases related to current period tax positions
37 
34 
43 
Settlements with taxing authorities
(10)
(3)
(20)
Lapse of statute of limitations
(19)
(15)
(29)
Balance at end of period
383 
370 
387 
Unrecognized tax benefits that would impact the effective tax rate if recognized
231 
228 
239 
Interest expense recognized as component of income tax expense
 
8 
 
Penalties recognized as component of income tax expense
 
2 
 
Accrued interest in income tax expense
85 
91 
79 
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense
$ 0 
$ 2 
$ 0 
Segment and Geographic Information - Segment Information (Details) (USD $)
In Millions, unless otherwise specified
1 Months Ended 3 Months Ended 11 Months Ended 12 Months Ended
Jan. 31, 2012
Jan. 31, 2011
Feb. 1, 2014
Nov. 2, 2013
Aug. 3, 2013
May 4, 2013
Feb. 2, 2013
Nov. 3, 2012
Aug. 4, 2012
May 5, 2012
Feb. 2, 2013
Jan. 28, 2012
Feb. 1, 2014
segments
Mar. 3, 2012
Business segment information
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Number of reportable segments
 
 
 
 
 
 
 
 
 
 
 
 
2 
 
Goodwill impairments
 
 
 
 
 
 
 
 
 
 
$ 822 
$ 0 
$ 0 
$ 0 
Total revenue
 
 
14,470 
9,327 
9,266 
9,347 
14,921 
9,343 
9,306 
10,343 
39,827 1
41,311 
42,410 
45,457 
Operating income (loss)
(14)
(1)
469 2
90 2
413 2
168 2
(181)3
0 3
87 3
263 3
(119)1 3
1,898 
1,140 2
2,200 
Other income (expense)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gain on sale of investments
 
 
 
 
 
 
 
 
 
 
0 
55 
20 
55 
Investment income and other
 
 
 
 
 
 
 
 
 
 
20 
23 
27 
22 
Interest expense
 
 
 
 
 
 
 
 
 
 
(99)
(101)
(100)
(111)
Earnings (loss) from continuing operations before income tax expense and equity in income (loss) of affiliates
 
 
 
 
 
 
 
 
 
 
(198)
1,875 
1,087 
2,166 
Total Assets
 
 
14,013 
 
 
 
16,787 
 
 
 
16,787 
 
14,013 
16,005 
Total capital expenditures
 
 
 
 
 
 
 
 
 
 
705 
709 
547 
766 
Total depreciation
 
 
 
 
 
 
 
 
 
 
794 
811 
701 
897 
Domestic [Member]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Business segment information
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Goodwill impairments
 
 
 
 
 
 
 
 
 
 
3 
 
0 
0 
Total revenue
 
 
 
 
 
 
 
 
 
 
33,222 
 
35,831 
37,596 
Percentage of revenue, by revenue category (as a percent)
 
 
 
 
 
 
 
 
 
 
100.00% 
 
100.00% 
100.00% 
Operating income (loss)
 
 
 
 
 
 
 
 
 
 
731 
 
1,145 
1,964 
Other income (expense)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Assets
 
 
11,146 
 
 
 
10,874 
 
 
 
10,874 
 
11,146 
9,592 
Total capital expenditures
 
 
 
 
 
 
 
 
 
 
488 
 
440 
488 
Domestic [Member] |
Consumer Electronics [Member]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Business segment information
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percentage of revenue, by revenue category (as a percent)
 
 
 
 
 
 
 
 
 
 
34.00% 
 
30.00% 
36.00% 
Domestic [Member] |
Computing and Mobile Phones [Member]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Business segment information
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percentage of revenue, by revenue category (as a percent)
 
 
 
 
 
 
 
 
 
 
44.00% 
 
48.00% 
40.00% 
Domestic [Member] |
Entertainment [Member]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Business segment information
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percentage of revenue, by revenue category (as a percent)
 
 
 
 
 
 
 
 
 
 
9.00% 
 
8.00% 
12.00% 
Domestic [Member] |
Appliances [Member]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Business segment information
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percentage of revenue, by revenue category (as a percent)
 
 
 
 
 
 
 
 
 
 
6.00% 
 
7.00% 
5.00% 
Domestic [Member] |
Services [Member]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Business segment information
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percentage of revenue, by revenue category (as a percent)
 
 
 
 
 
 
 
 
 
 
6.00% 
 
6.00% 
6.00% 
Domestic [Member] |
Other [Member]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Business segment information
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percentage of revenue, by revenue category (as a percent)
 
 
 
 
 
 
 
 
 
 
1.00% 
 
1.00% 
1.00% 
International [Member]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Business segment information
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Goodwill impairments
 
 
 
 
 
 
 
 
 
 
819 
 
0 
1,200 
Total revenue
 
 
 
 
 
 
 
 
 
 
6,605 
 
6,579 
7,861 
Percentage of revenue, by revenue category (as a percent)
 
 
 
 
 
 
 
 
 
 
100.00% 
 
100.00% 
100.00% 
Operating income (loss)
 
 
 
 
 
 
 
 
 
 
(850)4
 
(5)
236 
Other income (expense)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Assets
 
 
2,867 
 
 
 
5,913 
 
 
 
5,913 
 
2,867 
6,413 
Total capital expenditures
 
 
 
 
 
 
 
 
 
 
217 
 
107 
278 
International [Member] |
Consumer Electronics [Member]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Business segment information
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percentage of revenue, by revenue category (as a percent)
 
 
 
 
 
 
 
 
 
 
31.00% 
 
28.00% 
34.00% 
International [Member] |
Computing and Mobile Phones [Member]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Business segment information
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percentage of revenue, by revenue category (as a percent)
 
 
 
 
 
 
 
 
 
 
39.00% 
 
40.00% 
36.00% 
International [Member] |
Entertainment [Member]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Business segment information
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percentage of revenue, by revenue category (as a percent)
 
 
 
 
 
 
 
 
 
 
8.00% 
 
7.00% 
8.00% 
International [Member] |
Appliances [Member]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Business segment information
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percentage of revenue, by revenue category (as a percent)
 
 
 
 
 
 
 
 
 
 
17.00% 
 
20.00% 
17.00% 
International [Member] |
Services [Member]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Business segment information
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Percentage of revenue, by revenue category (as a percent)
 
 
 
 
 
 
 
 
 
 
5.00% 
 
5.00% 
5.00% 
Continuing Operations [Member]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other income (expense)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total depreciation
 
 
 
 
 
 
 
 
 
 
794 
 
701 
879 
Continuing Operations [Member] |
Domestic [Member]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other income (expense)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total depreciation
 
 
 
 
 
 
 
 
 
 
561 
 
565 
612 
Continuing Operations [Member] |
International [Member]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other income (expense)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total depreciation
 
 
 
 
 
 
 
 
 
 
$ 233 
 
$ 136 
$ 267 
Maximum [Member] |
International [Member] |
Other [Member]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Business segment information
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Maximum percentage of revenue, by revenue category (as a percent)
 
 
1.00% 
 
 
 
1.00% 
 
 
 
1.00% 
 
1.00% 
1.00% 
Segment and Geographic Information - Geographic Information (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 11 Months Ended 12 Months Ended
Feb. 1, 2014
Nov. 2, 2013
Aug. 3, 2013
May 4, 2013
Feb. 2, 2013
Nov. 3, 2012
Aug. 4, 2012
May 5, 2012
Feb. 2, 2013
Jan. 28, 2012
Feb. 1, 2014
Mar. 3, 2012
Geographic Areas, Revenues from External Customers [Abstract]
 
 
 
 
 
 
 
 
 
 
 
 
Total revenue
$ 14,470 
$ 9,327 
$ 9,266 
$ 9,347 
$ 14,921 
$ 9,343 
$ 9,306 
$ 10,343 
$ 39,827 1
$ 41,311 
$ 42,410 
$ 45,457 
Geographic Areas, Long-Lived Assets [Abstract]
 
 
 
 
 
 
 
 
 
 
 
 
Property, Plant and Equipment, Net
2,598 
 
 
 
3,270 
 
 
 
3,270 
 
2,598 
3,471 
United States [Member]
 
 
 
 
 
 
 
 
 
 
 
 
Geographic Areas, Revenues from External Customers [Abstract]
 
 
 
 
 
 
 
 
 
 
 
 
Total revenue
 
 
 
 
 
 
 
 
33,222 
 
35,831 
37,596 
Geographic Areas, Long-Lived Assets [Abstract]
 
 
 
 
 
 
 
 
 
 
 
 
Property, Plant and Equipment, Net
2,190 
 
 
 
2,404 
 
 
 
2,404 
 
2,190 
2,507 
Europe [Member]
 
 
 
 
 
 
 
 
 
 
 
 
Geographic Areas, Long-Lived Assets [Abstract]
 
 
 
 
 
 
 
 
 
 
 
 
Property, Plant and Equipment, Net
0 
 
 
 
352 
 
 
 
352 
 
0 
352 
Canada [Member]
 
 
 
 
 
 
 
 
 
 
 
 
Geographic Areas, Revenues from External Customers [Abstract]
 
 
 
 
 
 
 
 
 
 
 
 
Total revenue
 
 
 
 
 
 
 
 
4,818 
 
4,522 
5,635 
Geographic Areas, Long-Lived Assets [Abstract]
 
 
 
 
 
 
 
 
 
 
 
 
Property, Plant and Equipment, Net
244 
 
 
 
341 
 
 
 
341 
 
244 
432 
China [Member]
 
 
 
 
 
 
 
 
 
 
 
 
Geographic Areas, Revenues from External Customers [Abstract]
 
 
 
 
 
 
 
 
 
 
 
 
Total revenue
 
 
 
 
 
 
 
 
1,574 
 
1,806 
2,069 
Geographic Areas, Long-Lived Assets [Abstract]
 
 
 
 
 
 
 
 
 
 
 
 
Property, Plant and Equipment, Net
139 
 
 
 
142 
 
 
 
142 
 
139 
161 
Other [Member]
 
 
 
 
 
 
 
 
 
 
 
 
Geographic Areas, Revenues from External Customers [Abstract]
 
 
 
 
 
 
 
 
 
 
 
 
Total revenue
 
 
 
 
 
 
 
 
213 
 
251 
157 
Geographic Areas, Long-Lived Assets [Abstract]
 
 
 
 
 
 
 
 
 
 
 
 
Property, Plant and Equipment, Net
$ 25 
 
 
 
$ 31 
 
 
 
$ 31 
 
$ 25 
$ 19 
Contingencies and Commitments - Contingencies (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 1 Months Ended
Feb. 1, 2014
Aug. 3, 2013
Sep. 3, 2013
Dec. 31, 2013
Employment Discrimination Action
Nov. 30, 2013
Employment Discrimination Action
Contingencies
 
 
 
 
 
Payment made to plaintiffs as per settlement terms
 
 
 
$ 5 
$ 22 
Amount of plaintiffs' attorneys' fees and costs reimbursed by the entity
 
 
 
6 
 
Litigation Settlement, Amount
 
264 
 
 
 
Legal Fees
 
35 
 
 
 
Proceeds from Legal Settlements
176 
 
 
 
 
Future Proceeds from Legal Settlements
88 
 
 
 
 
Damages, Value
 
 
$ 7.5 
 
 
Contingencies and Commitments - Commitments (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Feb. 1, 2014
Accenture Service Contract [Member]
 
Commitments [Line Items]
 
Long-term Future Contractual Obligations, Low End of the Range
$ 21 
Long-term Future Contractual Obligations, High End of the Range
106 
Outstanding letters of credit and bankers' acceptances [Member]
 
Commitments [Line Items]
 
Unrecorded Unconditional Purchase Obligation, Purchases
$ 512 
Supplementary Financial Information (Details) (USD $)
In Millions, except Per Share data, unless otherwise specified
1 Months Ended 3 Months Ended 11 Months Ended 12 Months Ended
Jan. 31, 2012
Jan. 31, 2011
Feb. 1, 2014
Nov. 2, 2013
Aug. 3, 2013
May 4, 2013
Feb. 2, 2013
Nov. 3, 2012
Aug. 4, 2012
May 5, 2012
Feb. 2, 2013
Jan. 28, 2012
Feb. 1, 2014
Mar. 3, 2012
Quarterly Financial Information [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue
 
 
$ 14,470 
$ 9,327 
$ 9,266 
$ 9,347 
$ 14,921 
$ 9,343 
$ 9,306 
$ 10,343 
$ 39,827 1
$ 41,311 
$ 42,410 
$ 45,457 
Comparable store sales % change (as a percent)
 
 
(1.20%)2
0.30% 2
(0.60%)2
(1.40%)2
(1.40%)2
(5.10%)2
(3.30%)2
(5.20%)2
(3.40%)1 2
 
(0.80%)2
 
Gross profit
16 
24 
2,917 
2,157 
2,458 
2,158 
3,331 
2,213 
2,249 
2,572 
9,298 1
9,908 
9,690 
10,984 
Operating income (loss)
(14)
(1)
469 3
90 3
413 3
168 3
(181)4
0 4
87 4
263 4
(119)1 4
1,898 
1,140 3
2,200 
Net earnings (loss) from continuing operations
(13)
0 
311 
44 
237 
97 
(460)
(9)
30 
169 
(467)1 5
1,217 
689 
1,424 
Gain (loss) from discontinued operations, net of tax
(12)
(28)
(17)
10 
11 
(170)
81 
10 
(37)
(17)
47 1
(1,394)
(166)
(1,402)
Net earnings (loss) including noncontrolling interests
(25)
(28)
294 
54 
248 
(73)
(379)
1 
(7)
152 
(420)1
(177)
523 
22 
Net earnings (loss) attributable to Best Buy Co., Inc.
(14)6
(33)
293 
54 
266 
(81)
(409)
(10)
12 
158 
(441)1
(1,425)
532 
(1,231)
Diluted earnings (loss) per share
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Continuing operations
 
 
$ 0.88 
$ 0.12 
$ 0.69 
$ 0.29 
$ (1.36)
$ (0.03)
$ 0.09 
$ 0.49 
$ (1.38)1 5
$ 3.19 
$ 1.98 
$ 3.81 
Discontinued operations
 
 
$ (0.05)7
$ 0.04 7
$ 0.08 7
$ (0.53)7
$ 0.15 7
$ 0.00 7
$ (0.05)7
$ (0.03)7
$ 0.08 1 7
$ (6.91)
$ (0.45)7
$ (7.08)
Diluted (in dollars per share)
 
 
$ 0.83 
$ 0.16 
$ 0.77 
$ (0.24)
$ (1.21)
$ (0.03)
$ 0.04 
$ 0.46 
$ (1.30)1
$ (3.72)
$ 1.53 
$ (3.27)
Months until inclusion in comparable store sales
 
 
 
 
 
 
 
 
 
 
 
 
14 months 
 
Restructuring charges
 
 
115 
31 
7 
6 
169 
34 
91 
127 
449 
280 
259 
287 
Goodwill impairments
 
 
 
 
 
 
 
 
 
 
822 
0 
0 
0 
Continuing Operations [Member]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Diluted earnings (loss) per share
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Restructuring charges
 
 
 
 
 
 
 
 
 
 
$ 415 
 
$ 159 
$ 48 
[2] Comprised of revenue from stores operating for at least 14 full months, as well as revenue related to call centers, websites and our other comparable sales channels. Revenue we earn from sales of merchandise to wholesalers or dealers is generally not included within our comparable store sales calculation. Relocated, remodeled and expanded stores are excluded from our comparable store sales calculation until at least 14 full months after reopening. Acquired stores are included in our comparable store sales calculation beginning with the first full quarter following the first anniversary of the date of the acquisition. The portion of our calculation of the comparable store sales percentage change attributable to our International segment excludes the effect of fluctuations in foreign currency exchange rates. The method of calculating comparable store sales varies across the retail industry. As a result, our method of calculating comparable store sales may not be the same as other retailers' methods. The calculation of comparable store sales excludes the impact of the extra week of revenue in the fourth quarter of fiscal 2012, as well as revenue from discontinued operations for all periods presented.
Valuation and Qualifying Accounts (Details) (USD $)
In Millions, unless otherwise specified
11 Months Ended 12 Months Ended
Feb. 2, 2013
Feb. 1, 2014
Mar. 3, 2012
Activity in valuation and qualifying accounts
 
 
 
Balance at End of Period
$ 92 
$ 104 
 
Allowance for Doubtful Accounts [Member]
 
 
 
Activity in valuation and qualifying accounts
 
 
 
Balance at Beginning of Period
72 
92 
107 
Charged to Expenses or Other Accounts
34 
76 
8 
Other
(14)1
(64)1
(43)1
Balance at End of Period
$ 92 
$ 104 
$ 72