BEST BUY CO INC, 10-Q filed on 12/9/2013
Quarterly Report
Document and Entity Information Document
9 Months Ended
Nov. 2, 2013
Dec. 4, 2013
Document Information [Line Items]
 
 
Entity Registrant Name
BEST BUY CO INC 
 
Current Fiscal Year End Date
--02-01 
 
Document Fiscal Year Focus
2014 
 
Amendment Flag
false 
 
Entity Current Reporting Status
Yes 
 
Entity Common Stock, Shares Outstanding
 
346,007,645 
Document Fiscal Period Focus
Q3 
 
Document Type
10-Q 
 
Entity Central Index Key
0000764478 
 
Document Period End Date
Nov. 02, 2013 
 
Entity Filer Category
Large Accelerated Filer 
 
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
In Millions, unless otherwise specified
Nov. 2, 2013
Feb. 2, 2013
Nov. 3, 2012
CURRENT ASSETS
 
 
 
Cash and cash equivalents
$ 2,170 
$ 1,826 
$ 309 
Receivables
1,123 
2,704 
2,250 
Merchandise inventories
6,978 
6,571 
8,156 
Other current assets
963 
946 
1,131 
Total current assets
11,234 
12,047 
11,846 
PROPERTY AND EQUIPMENT, NET
2,726 
3,270 
3,407 
GOODWILL
528 
528 
1,344 
TRADENAMES, NET
103 
131 
131 
CUSTOMER RELATIONSHIPS, NET
72 
203 
213 
EQUITY AND OTHER INVESTMENTS
41 
86 
91 
OTHER ASSETS
364 
522 
524 
TOTAL ASSETS
15,068 
16,787 
17,556 
CURRENT LIABILITIES
 
 
 
Accounts payable
6,578 
6,951 
7,933 
Unredeemed gift card liabilities
368 
428 
392 
Accrued compensation and related expenses
350 
520 
429 
Accrued liabilities
1,233 
1,639 
1,531 
Accrued income taxes
91 
129 
9 
Short-term debt
0 
596 
310 
Current portion of long-term debt
45 
547 1
544 1
Total current liabilities
8,665 
10,810 
11,148 
LONG-TERM LIABILITIES
1,035 
1,109 
1,122 
LONG-TERM DEBT
1,624 
1,153 
1,158 
Best Buy Co., Inc. shareholders’ equity
 
 
 
Preferred stock, $1.00 par value: Authorized — 400,000 shares; Issued and outstanding — none
0 
0 
0 
Common stock, $0.10 par value: Authorized — 1.0 billion shares; Issued and outstanding — 345,564,000, 338,276,000 and 337,925,000 shares, respectively
35 
34 
34 
Additional paid-in capital
253 
54 
40 
Retained earnings
2,926 
2,861 
3,328 
Accumulated other comprehensive income
528 
112 
105 
Total Best Buy Co., Inc. shareholders' equity
3,742 
3,061 
3,507 
Noncontrolling interests
2 
654 
621 
Total equity
3,744 
3,715 
4,128 
TOTAL LIABILITIES AND EQUITY
$ 15,068 
$ 16,787 
$ 17,556 
CONDENSED CONSOLIDATED BALANCE SHEETS (PARENTHETICAL) (USD $)
Nov. 2, 2013
Feb. 2, 2013
Nov. 3, 2012
Preferred stock, par value (in dollars per share)
$ 1.00 
$ 1.00 
$ 1.00 
Preferred stock, authorized shares
400,000 
400,000 
400,000 
Preferred stock, issued shares
0 
0 
0 
Preferred stock, outstanding shares
0 
0 
0 
Common stock, par value (in dollars per share)
$ 0.10 
$ 0.10 
$ 0.10 
Common stock, authorized shares
1,000,000,000 
1,000,000,000 
1,000,000,000 
Common stock, issued shares
345,564,000 
338,276,000 
337,925,000 
Common stock, outstanding shares
345,564,000 
338,276,000 
337,925,000 
CONSOLIDATED STATEMENTS OF EARNINGS (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Nov. 2, 2013
Nov. 3, 2012
Nov. 2, 2013
Nov. 3, 2012
Revenue
$ 9,362 
$ 9,381 
$ 28,042 
$ 29,093 
Cost of goods sold
7,192 
7,153 
21,233 
22,020 
Gross profit
2,170 
2,228 
6,809 
7,073 
Selling, general and administrative expenses
2,048 
2,192 
6,093 
6,467 
Restructuring charges
31 
34 
44 
252 
Operating income
91 
2 
672 
354 
Other income (expense)
 
 
 
 
Gain on sale of investments
4 
0 
18 
0 
Investment income and other
8 
10 
18 
15 
Interest expense
(24)
(27)
(77)
(81)
Earnings (loss) from continuing operations before income tax expense (benefit)
79 
(15)
631 
288 
Income tax expense (benefit)
35 
(6)
253 
97 
Net earnings (loss) from continuing operations
44 
(9)
378 
191 
Gain (loss) from discontinued operations (Note 2), net of tax benefit (expense) of $10, $(6), $34 and $14
10 
10 
(149)
(45)
Net earnings including noncontrolling interests
54 
1 
229 
146 
Net earnings from continuing operations attributable to noncontrolling interests
(1)
0 
(1)
0 
Net (gain) loss from discontinued operations attributable to noncontrolling interests
1 
(11)
11 
14 
Net earnings (loss) attributable to Best Buy Co., Inc. shareholders
$ 54 
$ (10)
$ 239 
$ 160 
Basic earnings (loss) per share attributable to Best Buy Co., Inc. shareholders
 
 
 
 
Continuing operations (in dollars per share)
$ 0.13 
$ (0.03)
$ 1.11 
$ 0.56 
Discontinued operations (in dollars per share)
$ 0.03 
$ 0.00 
$ (0.41)
$ (0.09)
Basic earnings (loss) per share (in dollars per share)
$ 0.16 
$ (0.03)
$ 0.70 
$ 0.47 
Diluted earnings (loss) per share attributable to Best Buy Co., Inc. shareholders
 
 
 
 
Continuing operations (in dollars per share)
$ 0.12 
$ (0.03)
$ 1.09 
$ 0.56 
Discontinued operations (in dollars per share)
$ 0.04 
$ 0.00 
$ (0.40)
$ (0.09)
Diluted earnings (loss) per share (in dollars per share)
$ 0.16 
$ (0.03)
$ 0.69 
$ 0.47 
Dividends declared per common share (in dollars per share)
$ 0.17 
$ 0.17 
$ 0.51 
$ 0.49 
Weighted-average common shares outstanding (in millions)
 
 
 
 
Basic (in shares)
342.8 
337.2 
340.7 
339.3 
Diluted (in shares)
348.9 
337.2 
345.3 
340.4 
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)
In Millions, unless otherwise specified
3 Months Ended 9 Months Ended
Nov. 2, 2013
Nov. 3, 2012
Nov. 2, 2013
Nov. 3, 2012
Net earnings including noncontrolling interests
$ 54 
$ 1 
$ 229 
$ 146 
Foreign currency translation adjustments
(2)
33 
(106)
42 
Unrealized gain on available-for-sale investments
1 
0 
1 
3 
Reclassification of foreign currency translation adjustments into earnings
0 
0 
654 
0 
Reclassification of losses on available-for-sale investments into earnings
0 
0 
2 
0 
Comprehensive income including noncontrolling interests
53 
34 
780 
191 
Comprehensive income attributable to noncontrolling interests
0 
(25)
(125)
0 
Comprehensive income attributable to Best Buy Co., Inc. shareholders
$ 53 
$ 9 
$ 655 
$ 191 
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (USD $)
In Millions, unless otherwise specified
Total
Total Best Buy Co., Inc. [Member]
Common Stock [Member]
Additional Paid-In Capital [Member]
Retained Earnings [Member]
Accumulated Other Comprehensive Income (Loss) [Member]
Noncontrolling Interests [Member]
Beginning balances at Jan. 28, 2012
$ 4,242 
$ 3,621 
$ 34 
$ 0 
$ 3,513 
$ 74 
$ 621 
Beginning balances (in shares) at Jan. 28, 2012
 
 
346 
 
 
 
 
Increase (Decrease) in Shareholders' Equity
 
 
 
 
 
 
 
Adjustment for fiscal year-end change (Note 1) (in shares)
 
 
5 
 
 
 
 
Adjustment for fiscal year-end change (Note 1)
(124)
(124)
0 
0 
(108)
(16)
0 
Unrealized gain on available-for-sale investments
0 
 
 
 
 
 
 
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 
 
 
 
 
Beginning balances at Jan. 28, 2012
4,242 
3,621 
34 
0 
3,513 
74 
621 
Beginning balances (in shares) at Jan. 28, 2012
 
 
346 
 
 
 
 
Increase (Decrease) in Shareholders' Equity
 
 
 
 
 
 
 
Net earnings (loss), nine months ended
146 
160 
0 
0 
160 
0 
(14)
Foreign currency translation adjustments
 
28 
 
 
 
 
 
Foreign currency translation adjustments
42 
28 
0 
0 
0 
28 
14 
Unrealized gain on available-for-sale investments
3 
3 
0 
0 
0 
3 
0 
Reclassification of foreign currency translation adjustments into earnings
0 
 
 
 
 
 
 
Reclassification of losses on available-for-sale investments into earnings
0 
 
 
 
 
 
 
Stock-based compensation
99 
99 
0 
99 
0 
0 
0 
Stock options exercised (in shares)
 
 
2 
 
 
 
 
Stock options exercised
2 
2 
0 
2 
0 
0 
0 
Issuance of common stock under employee stock purchase plan (in shares)
 
 
1 
 
 
 
 
Issuance of common stock under employee stock purchase plan
24 
24 
0 
24 
0 
0 
0 
Tax deficit from stock options canceled or exercised, restricted stock vesting and employee stock purchase plan
(29)
(29)
0 
(29)
0 
0 
0 
Common stock dividends
(164)
(164)
0 
0 
(164)
0 
0 
Repurchase and retirement of common stock (in shares)
 
 
(11)
 
 
 
 
Repurchase and retirement of common stock
(237)
(237)
0 
(56)
(181)
0 
0 
Ending balances at Nov. 03, 2012
4,128 
3,507 
34 
40 
3,328 
105 
621 
Ending balances (in shares) at Nov. 03, 2012
 
 
338 
 
 
 
 
Beginning balances at Aug. 04, 2012
 
 
 
 
 
 
 
Increase (Decrease) in Shareholders' Equity
 
 
 
 
 
 
 
Net earnings (loss), nine months ended
1 
 
 
 
 
 
 
Foreign currency translation adjustments
 
18 
 
 
 
 
 
Foreign currency translation adjustments
33 
 
 
 
 
 
 
Unrealized gain on available-for-sale investments
0 
1 
 
 
 
 
 
Reclassification of foreign currency translation adjustments into earnings
0 
 
 
 
 
 
 
Reclassification of losses on available-for-sale investments into earnings
0 
 
 
 
 
 
 
Ending balances at Nov. 03, 2012
4,128 
3,507 
 
 
 
 
 
Beginning balances at Feb. 02, 2013
3,715 
3,061 
34 
54 
2,861 
112 
654 
Beginning balances (in shares) at Feb. 02, 2013
 
 
338 
 
 
 
 
Increase (Decrease) in Shareholders' Equity
 
 
 
 
 
 
 
Net earnings (loss), nine months ended
229 
239 
0 
0 
239 
0 
(10)
Foreign currency translation adjustments
(106)
(95)
0 
0 
0 
(95)
(11)
Foreign currency translation adjustments
(106)
 
 
 
 
 
 
Unrealized gain on available-for-sale investments
1 
2 
0 
0 
0 
2 
(1)
Sale of noncontrolling interest
(776)
0 
0 
0 
0 
0 
(776)
Reclassification of foreign currency translation adjustments into earnings
654 
508 
0 
0 
0 
508 
146 
Reclassification of losses on available-for-sale investments into earnings
2 
1 
0 
0 
0 
1 
1 
Dividend distribution
(1)
0 
0 
0 
0 
0 
(1)
Stock-based compensation
74 
74 
0 
74 
0 
0 
0 
Stock options exercised (in shares)
 
 
7 
 
 
 
 
Stock options exercised
136 
136 
1 
135 
0 
0 
0 
Issuance of common stock under employee stock purchase plan (in shares)
 
 
1 
 
 
 
 
Issuance of common stock under employee stock purchase plan
13 
13 
0 
13 
0 
0 
0 
Tax deficit from stock options canceled or exercised, restricted stock vesting and employee stock purchase plan
(23)
(23)
0 
(23)
0 
0 
0 
Common stock dividends
(174)
(174)
0 
0 
(174)
0 
0 
Ending balances at Nov. 02, 2013
3,744 
3,742 
35 
253 
2,926 
528 
2 
Ending balances (in shares) at Nov. 02, 2013
 
 
346 
 
 
 
 
Beginning balances at Aug. 03, 2013
 
 
 
 
 
 
 
Increase (Decrease) in Shareholders' Equity
 
 
 
 
 
 
 
Net earnings (loss), nine months ended
54 
 
 
 
 
 
 
Foreign currency translation adjustments
 
(2)
 
 
 
 
 
Foreign currency translation adjustments
(2)
 
 
 
 
 
 
Unrealized gain on available-for-sale investments
1 
1 
 
 
 
 
 
Reclassification of foreign currency translation adjustments into earnings
0 
 
 
 
 
 
 
Reclassification of losses on available-for-sale investments into earnings
0 
 
 
 
 
 
 
Ending balances at Nov. 02, 2013
$ 3,744 
$ 3,742 
 
 
 
 
 
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (PARENTHETICAL)
3 Months Ended 9 Months Ended
Nov. 2, 2013
Nov. 3, 2012
Nov. 2, 2013
Nov. 3, 2012
Statement of Stockholders' Equity [Abstract]
 
 
 
 
Dividends declared per common share (in dollars per share)
$ 0.17 
$ 0.17 
$ 0.51 
$ 0.49 
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Millions, unless otherwise specified
9 Months Ended
Nov. 2, 2013
Nov. 3, 2012
OPERATING ACTIVITIES
 
 
Net earnings including noncontrolling interests
$ 229 
$ 146 
Adjustments to reconcile net earnings including noncontrolling interests to total cash provided by (used in) operating activities:
 
 
Depreciation
537 
657 
Amortization of definite-lived intangible assets
13 
30 
Restructuring charges
144 
251 
Loss on sale of business, net
123 
0 
Stock-based compensation
70 
95 
Excess tax benefits from stock-based compensation
(8)
0 
Deferred income taxes
(3)
(96)
Other, net
14 
19 
Changes in operating assets and liabilities
 
 
Receivables
208 
216 
Merchandise inventories
(974)
(1,330)
Other assets
(102)
(167)
Accounts payable
465 
967 
Other liabilities
(347)
(541)
Income taxes
(45)
(368)
Total cash provided by (used in) operating activities
324 
(121)
INVESTING ACTIVITIES
 
 
Additions to property and equipment
(422)
(522)
Purchases of investments
(5)
(13)
Sales of investments
49 
68 
Proceeds from sale of business, net of cash transferred upon sale
67 
25 
Acquisition of businesses, net of cash acquired
0 
(29)
Change in restricted assets
(3)
59 
Other, net
(1)
0 
Total cash used in investing activities
(315)
(412)
FINANCING ACTIVITIES
 
 
Repurchase of common stock
0 
(255)
Borrowings of debt
2,414 
1,034 
Repayments of debt
(2,027)
(1,234)
Dividends paid
(174)
(166)
Issuance of common stock under employee stock purchase plan and for the exercise of stock options
147 
26 
Excess tax benefits from stock-based compensation
8 
0 
Other, net
(9)
(12)
Total cash provided by (used in) financing activities
359 
(607)
EFFECT OF EXCHANGE RATE CHANGES ON CASH
(24)
48 
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS BEFORE ADJUSTMENT
344 
(1,092)
ADJUSTMENT FOR FISCAL YEAR-END CHANGE (NOTE 1)
0 
202 
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AFTER ADJUSTMENT
344 
(890)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD
1,826 
1,199 
CASH AND CASH EQUIVALENTS AT END OF PERIOD
$ 2,170 
$ 309 
Basis of Presentation
Basis of Presentation
Basis of Presentation
 
Unless the context otherwise requires, the use of the terms “Best Buy,” “we,” “us,” and “our” in these Notes to Condensed Consolidated Financial Statements refers to Best Buy Co., Inc. and its consolidated subsidiaries.
 
In the opinion of management, the accompanying condensed consolidated financial statements contain all adjustments necessary for a fair presentation as prescribed by accounting principles generally accepted in the United States (“GAAP”). All adjustments were comprised of normal recurring adjustments, except as noted in these Notes to Condensed Consolidated Financial Statements.
 
Sale of Best Buy Europe

During the first quarter of fiscal 2014, we entered into a definitive agreement with Carphone Warehouse Group plc ("CPW") to sell our 50% ownership interest in Best Buy Europe to CPW. On June 26, 2013, the sale was completed. As a result, beginning in the first quarter of fiscal 2014, the results of Best Buy Europe for all periods have been presented as discontinued operations. See Note 2, Discontinued Operations, for further information.

On June 21, 2013, we filed a Current Report on Form 8-K (the “June 21st Form 8-K”) to recast certain financial information included in our Transition Report on Form 10-K for the transition period from March 4, 2012, to February 2, 2013, to reflect the results of Best Buy Europe as discontinued operations.

Description of Business

Historically, we have realized more of our revenue and a large portion of our earnings in the fiscal fourth quarter, which includes the majority of the holiday shopping season in the U.S., Canada and Mexico, than in any other fiscal quarter. Due to the seasonal nature of our business, interim results are not necessarily indicative of results for the entire fiscal year. The interim financial statements and the related notes in this Quarterly Report on Form 10-Q should be read in conjunction with the consolidated financial statements and related notes included in our Transition Report on Form 10-K for the fiscal year ended February 2, 2013, and the recast financial information included in the June 21st Form 8-K. The first nine months of fiscal 2014 and fiscal 2013 included 39 weeks and 40 weeks, respectively.
 
Beginning in the first quarter of fiscal 2013, we changed 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 ending on February 2, 2013. The results for the nine months ended November 3, 2012 include our fiscal month ended March 3, 2012, for operations that are not reported on a lag (primarily our Domestic segment and Canadian operations), which were also included in our results for the fiscal year ended March 3, 2012, included in our fiscal 2012 Form 10-K. See Note 2, Fiscal Year-end Change, in the Notes to Consolidated Financial Statements included in our Transition Report on Form 10-K for the fiscal year ended February 2, 2013, and the recast financial information included in the June 21st Form 8-K, for additional information regarding our fiscal year-end change.
 
In order to align our fiscal reporting periods and comply with statutory filing requirements in certain foreign jurisdictions, we consolidate the financial results of our China and Mexico operations on a one-month lag. Our policy is to accelerate recording the effect of events occurring in the lag period that significantly affect our consolidated financial statements. No such events were identified for this period.

In preparing the accompanying condensed consolidated financial statements, we evaluated the period from November 3, 2013, through the date the financial statements were issued, for material subsequent events requiring recognition or disclosure. No such events were identified for this period.

Discontinued Operations
Discontinued Operations
Discontinued Operations

On June 26, 2013, 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



Discontinued operations are comprised of: (i) Napster operations within our Domestic segment; (ii) large-format Best Buy branded store operations in China within our International segment; and (iii) Best Buy Europe operations within our International segment. The presentation of discontinued operations has been retrospectively applied to all prior periods presented.

The financial results of discontinued operations for the three and nine months ended November 2, 2013, and November 3, 2012, were as follows ($ in millions):
 
Three Months Ended
 
Nine Months Ended
 
November 2, 2013
 
November 3, 2012
 
November 2, 2013
 
November 3, 2012
Revenue
$
—

 
$
1,372

 
$
2,682

 
$
3,825

 
 
 
 
 
 
 
 
Restructuring charges(1)
—

 
6

 
100

 
(1
)
 
 
 
 
 
 
 
 
Gain (loss) from discontinued operations before income tax benefit (expense)
—

 
17

 
(235
)
 
(55
)
Income tax benefit (expense)(2)
10

 
(6
)
 
34

 
14

Gain on sale of discontinued operations
—

 
—

 
52

 
—

Equity in loss of affiliates
—

 
(1
)
 
—

 
(4
)
Net gain (loss) from discontinued operations, including noncontrolling interests
10

 
10

 
(149
)
 
(45
)
Net (gain) loss from discontinued operations attributable to noncontrolling interests
1

 
(11
)
 
11

 
14

Net gain (loss) from discontinued operations attributable to Best Buy Co., Inc. shareholders
$
11

 
$
(1
)
 
$
(138
)
 
$
(31
)
 
(1)  
See Note 6, Restructuring Charges, for further discussion of the restructuring charges associated with discontinued operations.
(2)  
Income tax benefit for the three months ended November 2, 2013 includes a $16 million benefit related to the impairment of our investment in Best Buy Europe, partially offset by $(6) million of expense related to a tax allocation between continuing and discontinued operations. The fiscal 2014 effective tax rate for discontinued operations differs from the statutory tax rate primarily due to the tax allocation, restructuring charges and the impairment of our investment in Best Buy Europe. The restructuring charges and impairment generally included minimal related tax benefit. The deferred tax assets related to the restructuring charges generally resulted in an increase in the valuation allowance in an equal amount, while the investment impairment is generally not tax deductible.
Investments
Investments
Investments
 
Investments were comprised of the following ($ in millions):
 
November 2, 2013
 
February 2, 2013
 
November 3, 2012
Equity and other investments
 

 
 

 
 

Debt securities (auction rate securities)
$
9

 
$
21

 
$
21

Marketable equity securities
10

 
27

 
3

Other investments
22

 
38

 
67

Total equity and other investments
$
41

 
$
86

 
$
91



Debt Securities
 
Our debt securities are comprised of auction rate securities (“ARS”). At November 2, 2013, our ARS portfolio of three investments had a par value of $10 million and a fair value of $9 million. We sold $7 million of ARS at par during the third quarter of fiscal 2014. We do not intend to sell our remaining ARS until we can recover the full principal amount. In addition, we do not believe it is more likely than not that we would be required to sell our remaining ARS until we can recover the full principal amount based on our other sources of liquidity. Our ARS portfolio had an immaterial impact on accumulated other comprehensive income at November 2, 2013, February 2, 2013, and November 3, 2012.
 
Marketable Equity Securities
 
We invest in marketable equity securities and classify them as available-for-sale. Investments in marketable equity securities are classified as non-current assets within equity and other investments in our Condensed Consolidated Balance Sheets and are reported at fair value based on quoted market prices. Our investments in marketable equity securities were $10 million, $27 million, and $3 million at November 2, 2013, February 2, 2013, and November 3, 2012, respectively. We review all investments for other-than-temporary impairment at least quarterly or as indicators of impairment exist. The total unrealized gain, net of tax, included in accumulated other comprehensive income was immaterial at November 2, 2013, February 2, 2013, and November 3, 2012, respectively.
 
Other Investments
 
The aggregate carrying values of investments accounted for using the cost method at November 2, 2013, February 2, 2013, and November 3, 2012 were $22 million, $38 million, and $67 million, respectively.
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 the 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 Measured at Fair Value on a Recurring Basis
 
The fair value hierarchy requires the use of observable market data when available. In instances where 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 November 2, 2013, February 2, 2013, and November 3, 2012, according to the valuation techniques we used to determine their fair values ($ in millions).
 
 
 
Fair Value Measurements
Using Inputs Considered as
 
Fair Value at
November 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
$
495

 
$
495

 
$
—

 
$
—

Equity and other investments
 

 
 

 
 

 
 

Auction rate securities
9

 
—

 
—

 
9

Marketable equity securities
10

 
10

 
—

 
—

 
 

 
 

 
 

 
 

LIABILITIES
 

 
 

 
 

 
 

Accrued liabilities
 
 
 
 
 
 
 
Foreign currency derivative instruments
2

 
—

 
2

 
—


 
 
 
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

 
—

Equity and other investments
 

 
 

 
 

 
 

Auction rate securities
21

 
—

 
—

 
21

Marketable equity securities
27

 
27

 
—

 
—

 
 
 
 
Fair Value Measurements
Using Inputs Considered as
 
Fair Value at
November 3, 2012
 
Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
ASSETS
 

 
 

 
 

 
 

Other current assets
 

 
 

 
 

 
 

Foreign currency derivative instruments
$
2

 
$
—

 
$
2

 
$
—

Equity and other investments
 

 
 

 
 

 
 

Auction rate securities
21

 
—

 
—

 
21

Marketable equity securities
3

 
3

 
—

 
—

 
 
 
 
 
 
 
 
LIABILITIES
 
 
 
 
 
 
 
Accrued liabilities
 

 
 

 
 

 
 

Foreign currency derivative instruments
1

 
—

 
1

 
—


The following tables provide 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) for the three and nine months ended November 2, 2013, and the three and eight months ended November 3, 2012 ($ in millions).
 
Debt securities-
Auction rate securities only
 
Student loan
bonds
 
Municipal
revenue bonds
 
Total
Balances at August 3, 2013
$
14

 
$
2

 
$
16

Sales
(7
)
 
—

 
(7
)
Balances at November 2, 2013
$
7

 
$
2

 
$
9

  
 
Debt securities-
Auction rate securities only
 
Student loan
bonds
 
Municipal
revenue bonds
 
Total
Balances at February 2, 2013
$
19

 
$
2

 
$
21

Sales
(12
)
 
—

 
(12
)
Balances at November 2, 2013
$
7

 
$
2

 
$
9


 
Debt securities-
Auction rate securities only
 
Student loan
bonds
 
Municipal
revenue bonds
 
Total
Balances at August 4, 2012
$
20

 
$
2

 
$
22

Sales
(1
)
 
—

 
(1
)
Balances at November 3, 2012
$
19

 
$
2

 
$
21



 
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 included in other comprehensive income
4

 
—

 
4

Sales
(65
)
 
—

 
(65
)
Balances at November 3, 2012
$
19

 
$
2

 
$
21



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.
 
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 active markets.
 
Auction Rate Securities.  Our investments in ARS were classified as Level 3 as quoted prices were unavailable due to events described in Note 3, Investments. Due to limited market information, we utilized a discounted cash flow (“DCF”) model to derive an estimate of fair value. The unobservable inputs and 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. Changes in these unobservable inputs are not likely to have a significant impact on the fair value measurement of our 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 active markets for which closing stock prices are readily available.

Assets and Liabilities 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 intangible assets, which are remeasured when the fair value is below carrying value on our Condensed 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.

With the exception of fixed asset impairments associated with our agreement to sell our interest in Best Buy Europe and our restructuring activities described in Note 6, Restructuring Charges, we had no significant remeasurements of such assets or liabilities to fair value during the nine months ended November 2, 2013, and November 3, 2012.

The following table summarizes the fair value remeasurements recorded during the nine months ended November 2, 2013, and November 3, 2012 ($ in millions):
 
Nine Months Ended
 
Nine Months Ended
 
November 2, 2013
 
November 3, 2012
 
Impairments
 
Remaining Net Carrying Value
 
Impairments
 
Remaining Net Carrying Value
Continuing operations
 
 
 
 
 
 
 
Property and equipment
$
4

 
$
—

 
$
29

 
$
—

Investments
16

 
22

 
—

 
—

Total continuing operations
$
20

 
$
22

 
$
29

 
$
—

Discontinued operations(1)
 
 
 
 
 
 
 
Property and equipment(2)
$
220

 
$
—

 
$
—

 
$
—

Tradename
4

 
—

 
—

 
—

Total discontinued operations
$
224

 
$
—

 
$
—

 
$
—

(1) 
Property and equipment and tradename impairments associated with discontinued operations are recorded within gain (loss) from discontinued operations in our Consolidated Statements of Earnings.
(2) 
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 2, Discontinued Operations, the remaining net carrying values of all assets have been reduced to zero.

The fair value remeasurements included in the table above were based on significant unobservable inputs (Level 3). Fixed asset and tradename 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, sales proceeds, expenses and other significant cash outflows, such as capital expenditures, as well as an appropriate discount rate. 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, other investments, accounts payable, other payables, and short- and long-term debt. The fair values of cash, receivables, 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.
Goodwill and Intangible Assets
Goodwill and Intangible Assets
Goodwill and Intangible Assets
 
The changes in the carrying values of goodwill and indefinite-lived tradenames by segment were as follows in the nine months ended November 2, 2013, and the eight months ended November 3, 2012 ($ in millions):
 
Goodwill
 
Indefinite-lived Tradenames
 
Domestic
 
International
 
Total
 
Domestic
 
International
 
Total
Balances at February 2, 2013
$
528

 
$
—

 
$
528

 
$
19

 
$
112

 
$
131

Changes in foreign currency exchange rates
—

 
—

 
—

 
—

 
(2
)
 
(2
)
Sale of Best Buy Europe
—

 
—

 
—

 
—

 
(22
)
 
(22
)
Impairments
—

 
—

 
—

 
—

 
(4
)
 
(4
)
Balances at November 2, 2013
$
528

 
$
—

 
$
528

 
$
19

 
$
84

 
$
103

 

 
Goodwill
 
Indefinite-lived Tradenames
 
Domestic
 
International
 
Total
 
Domestic
 
International
 
Total
Balances at March 3, 2012
$
516

 
$
819

 
$
1,335

 
$
19

 
$
112

 
$
131

Changes in foreign currency exchange rates
—

 
(5
)
 
(5
)
 
—

 
—

 
—

Acquisitions
14

 
—

 
14

 
—

 
—

 
—

Balances at November 3, 2012
$
530

 
$
814

 
$
1,344

 
$
19

 
$
112

 
$
131



The following table provides the gross carrying amount of goodwill and cumulative goodwill impairment losses ($ in millions):
 
November 2, 2013
 
February 2, 2013
 
November 3, 2012
 
Gross
Carrying
Amount(1)
 
Cumulative
Impairment(1)
 
Gross
Carrying
Amount
 
Cumulative
Impairment
 
Gross
Carrying
Amount
 
Cumulative
Impairment
Goodwill
$
1,412

 
$
(884
)
 
$
2,608

 
$
(2,080
)
 
$
2,605

 
$
(1,261
)

 (1) 
Excludes the gross carrying amount and cumulative impairment related to Best Buy Europe, which was sold during the quarter ended August 3, 2013.

The following table provides the gross carrying values and related accumulated amortization of definite-lived intangible assets ($ in millions):
 
November 2, 2013
 
February 2, 2013
 
November 3, 2012
 
Gross
Carrying
Amount(1)
 
Accumulated
Amortization(1)
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Gross
Carrying
Amount
 
Accumulated
Amortization
Customer relationships
$
83

 
$
(11
)
 
$
475

 
$
(272
)
 
$
475

 
$
(262
)

(1) 
Excludes the gross carrying amount and accumulated amortization related to Best Buy Europe, which was sold during the quarter ended August 3, 2013.

Total amortization expense for the three months ended November 2, 2013, and November 3, 2012, was $1 million and $10 million, respectively, of which $0 million and $9 million, respectively, has been included in the results of discontinued operations. Total amortization expense for the nine months ended November 2, 2013, and November 3, 2012, was $13 million and $30 million, respectively, of which $9 million and $26 million, respectively, has been included in the results of discontinued operations. The estimated future amortization expense for identifiable intangible assets is as follows ($ in millions):
Fiscal Year
 
Remainder of fiscal 2014
$
2

2015
6

2016
6

2017
6

2018
6

Thereafter
46



Restructuring Charges
Restructuring Charges
Restructuring Charges
 
Summary

Charges incurred in the nine months ended November 2, 2013, and November 3, 2012, for our restructuring activities were as follows ($ in millions):
 
Nine Months Ended
 
November 2, 2013
 
November 3, 2012
Continuing operations
 
 
 
Renew Blue
$
52

 
$
—

Fiscal 2013 U.S. restructuring
(8
)
 
258

Fiscal 2012 restructuring
—

 
6

Fiscal 2011 restructuring
—

 
(12
)
Total
44

 
252

Discontinued operations
 
 
 
Fiscal 2013 Europe restructuring
95

 
2

Fiscal 2012 restructuring
5

 
(5
)
Fiscal 2011 restructuring
—

 
2

Total (Note 2)
100

 
(1
)
Total
$
144

 
$
251



Renew Blue

In the fourth quarter of fiscal 2013, we began implementing initiatives intended to reduce costs and improve operating performance. These initiatives included focusing on core business activities, reducing headcount and optimizing our real estate portfolio. These cost reduction initiatives represent one of the six Renew Blue priorities for fiscal 2014. We incurred $52 million of restructuring charges related to Renew Blue initiatives during the first nine months of fiscal 2014, primarily comprised of employee termination benefits, investment impairments, facility closure costs, and property and equipment impairments. We expect to continue to implement Renew Blue initiatives throughout fiscal 2014, as we further analyze our operations and strategies.

All 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 the nine months ended November 2, 2013, as well as the cumulative amount incurred through November 2, 2013, was as follows ($ in millions):
 
Domestic
 
International
 
Total
 
Nine Months Ended
November 2, 2013
 
Cumulative Amount through
November 2, 2013
 
Nine Months Ended
November 2, 2013
 
Cumulative Amount through
November 2, 2013
 
Nine Months Ended
November 2, 2013
 
Cumulative Amount through
November 2, 2013
Continuing operations
 
 
 
 
 
 
 
 
 
 
 
Inventory write-downs
$
—

 
$
1

 
$
—

 
$
—

 
$
—

 
$
1

Property and equipment impairments
2

 
9

 
2

 
25

 
4

 
34

Termination benefits
16

 
62

 
10

 
19

 
26

 
81

Investment impairments
16

 
43

 
—

 
—

 
16

 
43

Facility closure and other costs
—

 
3

 
6

 
61

 
6

 
64

Total
$
34

 
$
118

 
$
18

 
$
105

 
$
52

 
$
223



The following table summarizes our restructuring accrual activity during the nine months ended November 2, 2013, 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 February 2, 2013
$
54

 
$
54

 
$
108

Charges
25

 
14

 
39

Cash payments
(65
)
 
(16
)
 
(81
)
Adjustments
(7
)
 
8

 
1

Changes in foreign currency exchange rates
1

 
(1
)
 
—

Balance at November 2, 2013
$
8

 
$
59

 
$
67



Fiscal 2013 Europe Restructuring

In the third quarter of fiscal 2013, we 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 2, Discontinued Operations. We incurred $95 million of restructuring charges in the first nine months of fiscal 2014, consisting primarily of property and equipment impairments and employee termination benefits. In the first nine months of fiscal 2013, we incurred $2 million of restructuring charges related to employee termination benefits. 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 the nine months ended November 2, 2013 and November 3, 2012, as well as the cumulative amount incurred through November 2, 2013, was as follows ($ in millions):
 
Nine Months Ended
November 2, 2013
 
Nine Months Ended
November 3, 2012
 
Cumulative Amount through
November 2, 2013
Discontinued operations
 
 
 
 
 
Inventory write-downs
$
7

 
$
—

 
$
7

Property and equipment impairments
45

 
—

 
57

Termination benefits
36

 
2

 
55

Tradename impairment
4

 
—

 
4

Facility closure and other costs
3

 
—

 
8

Total
$
95

 
$
2

 
$
131



The following table summarizes our restructuring accrual activity during the nine months ended November 2, 2013, and the eight months ended November 3, 2012, 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 February 2, 2013
$
—

 
$
5

 
$
5

Charges
36

 
2

 
38

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

 
(34
)
Balance at November 2, 2013
$
—

 
$
—

 
$
—


(1) 
Represents the remaining liability written off as a result of the sale of Best Buy Europe, as described in Note 2, Discontinued Operations.
 
Termination
Benefits
Balance at March 3, 2012
$
—

Charges
2

Cash payments
(2
)
Balance at November 3, 2012
$
—



Fiscal 2013 U.S. Restructuring

In the first quarter of fiscal 2013, 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 are primarily comprised of facility closure costs, employee termination benefits, and property and equipment (primarily store fixtures) impairments. We recognized a reduction to restructuring charges of $8 million in the nine months ended November 2, 2013, as a result of the buyout of a lease for less than the remaining vacant space liability. In the nine months ended November 3, 2012, we incurred $258 million of charges consisting primarily of facility closure and other costs, 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 leases expire or are terminated.

The restructuring charges related to our fiscal U.S. 2013 restructuring activities 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 the nine months ended November 2, 2013, and November 3, 2012, as well as the cumulative amount incurred through November 2, 2013, was as follows ($ in millions):
 
Nine Months Ended
 
Cumulative Amount through November 2, 2013
 
November 2, 2013
 
November 3, 2012
 
Continuing operations
 
 
 
 
 
Property and equipment impairments
$
—

 
$
28

 
$
29

Termination benefits
—

 
83

 
77

Facility closure and other costs, net
(8
)
 
147

 
143

Total
$
(8
)
 
$
258

 
$
249



The following table summarizes our restructuring accrual activity during the nine months ended November 2, 2013, and the eight months ended November 3, 2012, 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 February 2, 2013
$
4

 
$
113

 
$
117

Charges
—

 
3

 
3

Cash payments
(2
)
 
(39
)
 
(41
)
Adjustments
(2
)
 
(13
)
 
(15
)
Balance at November 2, 2013
$
—

 
$
64

 
$
64

 
Termination
Benefits
 
Facility
Closure and
Other Costs
 
Total
Balance at March 3, 2012
$
—

 
$
—

 
$
—

Charges
109

 
145

 
254

Cash payments
(65
)
 
(18
)
 
(83
)
Adjustments
(31
)
 
(3
)
 
(34
)
Balance at November 3, 2012
$
13

 
$
124

 
$
137


Fiscal 2012 Restructuring

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 directly 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 2, 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 the first nine months of fiscal 2014, representing a change in sublease assumptions. In the first nine months of fiscal 2013, we incurred $1 million of charges, comprised primarily of facility closure and other costs. 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 the nine months ended November 2, 2013, and November 3, 2012, as well as the cumulative amount incurred through November 2, 2013, was as follows ($ in millions):
 
Domestic
 
International
 
Total
 
Nine Months Ended
 
Cumulative Amount through
November 2, 2013
 
Nine Months Ended
 
Cumulative Amount through
November 2, 2013
 
Nine Months Ended
 
Cumulative Amount through
November 2, 2013
 
Nov. 2, 2013
 
Nov. 3, 2012
 
 
Nov. 2, 2013
 
Nov. 3, 2012
 
 
Nov. 2, 2013
 
Nov. 3, 2012
 
Continuing operations
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property and equipment impairments
$
—

 
$
1

 
$
17

 
$
—

 
$
—

 
$
15

 
$
—

 
$
1

 
$
32

Termination benefits
—

 
—

 
1

 
—

 
—

 
—

 
—

 
—

 
1

Facility closure and other costs
—

 
5

 
5

 
—

 
—

 
—

 
—

 
5

 
5

Total
—

 
6

 
23

 
—

 
—

 
15

 
—

 
6

 
38

Discontinued operations
 
 
 
 
 
 
 
 
 
 
 
 


 


 
 
Inventory write-downs
—

 
—

 
—

 
—

 
—

 
11

 
—

 
—

 
11

Property and equipment impairments
—

 
—

 
—

 
—

 
—

 
96

 
—

 
—

 
96

Termination benefits
—

 
—

 
—

 
—

 
1

 
17

 
—

 
1

 
17

Facility closure and other costs
—

 
—

 
—

 
5

 
(6
)
 
84

 
5

 
(6
)
 
84

Total
—

 
—

 
—

 
5

 
(5
)

208

 
5

 
(5
)
 
208

Total
$
—

 
$
6

 
$
23

 
$
5

 
$
(5
)
 
$
223

 
$
5

 
$
1

 
$
246



The following table summarizes our restructuring accrual activity during the nine months ended November 2, 2013, and the eight months ended November 3, 2012, related to termination benefits and facility closure and other costs associated with this program ($ in millions):
 
Facility
Closure and
Other Costs
Balance at February 2, 2013
$
36

Cash payments
(33
)
Adjustments(1)
(1
)
Changes in foreign currency exchange rates
(2
)
Balance at November 2, 2013
$
—

(1) 
Included within the adjustments 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 2, Discontinued Operations.
 
Termination
Benefits
 
Facility
Closure and
Other Costs(1)
 
Total
Balance at March 3, 2012
$
17

 
$
85

 
$
102

Charges
1

 
2

 
3

Cash payments
(17
)
 
(81
)
 
(98
)
Adjustments
—

 
25

 
25

Changes in foreign currency exchange rates
—

 
3

 
3

Balance at November 3, 2012
$
1

 
$
34

 
$
35

(1) 
Included within the adjustments to facility closure and other costs is $34 million from the first quarter of fiscal 2013, representing an adjustment to exclude non-cash charges or benefits, which had no impact on our Consolidated Statements of Earnings in the first quarter of fiscal 2013.
 
Fiscal 2011 Restructuring

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 the first nine months of fiscal 2013, we recorded a net reduction to restructuring charges of $10 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 (previously impaired through restructuring charges), partially offset by charges associated with the exit from certain digital delivery services within our entertainment product category. We have completed activities under this plan.
Debt
Debt
Debt
 
Short-Term Debt
 
Short-term debt consisted of the following ($ in millions):
 
November 2, 2013
 
February 2, 2013
 
November 3, 2012
U.S. revolving credit facility – 364-Day
$
—

 
$
—

 
$
—

U.S. revolving credit facility – 5-Year
—

 
—

 
—

Europe revolving credit facility(1)
—

 
596

 
310

Canada revolving demand facility
—

 
—

 
—

China revolving demand facilities
—

 
—

 
—

   Total short-term debt
$
—

 
$
596

 
$
310

(1) 
Short-term debt associated with the Europe revolving credit facility is related to our Best Buy Europe operations, which we sold on June 26, 2013, as described in Note 2, Discontinued Operations.

U.S. Revolving Credit Facility

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, including JPMorgan acting as administrative agent, 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%, 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%.
 
Long-Term Debt
 
Long-term debt consisted of the following ($ in millions):
 
November 2, 2013
 
February 2, 2013
 
November 3, 2012
2013 Notes
$
—

 
$
500

 
$
500

2016 Notes
349

 
349

 
349

2018 Notes
500

 
—

 
—

2021 Notes
649

 
648

 
648

Financing lease obligations
103

 
122

 
130

Capital lease obligations
67

 
80

 
74

Other debt
1

 
1

 
1

   Total long-term debt
1,669

 
1,700

 
1,702

Less: current portion(1)
(45
)
 
(547
)
 
(544
)
   Total long-term debt, less current portion
$
1,624

 
$
1,153

 
$
1,158

 
(1) 
Our 2013 Notes due July 15, 2013, which were retired on July 15, 2013, are classified in the current portion of long-term debt as of February 2, 2013, and November 3, 2012.

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 comparable Treasury Rate plus 50 basis points.

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.

Other

The fair value of long-term debt approximated $1,717 million, $1,652 million, and $1,635 million at November 2, 2013, February 2, 2013, and November 3, 2012, respectively, based primarily on the market prices quoted from external sources, compared with carrying values of $1,669 million, $1,700 million, and $1,702 million, respectively. If long-term debt was measured at fair value in the financial statements, it would be classified primarily as Level 1 in the fair value hierarchy.

See Note 8, Debt, in the Notes to Consolidated Financial Statements included in our Transition Report on Form 10-K for the fiscal year ended February 2, 2013, and the recast financial information included in the June 21st Form 8-K, for additional information regarding the terms of our debt facilities, debt instruments and other obligations.
Derivative Instruments
Derivative Instruments
Derivative Instruments
 
We manage our transaction exposure to certain market-based risks through the use of foreign currency derivative instruments. Our objective in holding derivatives is to reduce the volatility of net earnings and cash flows associated with changes in foreign currency exchange rates. We do not hold or issue derivative financial instruments for trading or speculative purposes. In addition, we have no derivatives that have credit risk-related contingent features, and we mitigate our credit risk by engaging with major financial institutions as our counterparties.
 
Derivatives Not Designated as Hedging Instruments
 
Derivatives not designated as hedging instruments include foreign currency forward contracts used 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 November 2, 2013, the notional amount of these instruments was $138 million and the effect of these instruments on our Consolidated Statements of Earnings for the three and nine months ended November 2, 2013, recognized in selling, general and administrative expenses was a $3 million loss and $3 million gain, respectively.
 
In conjunction with our agreement to sell our 50% ownership interest in Best Buy Europe as described in Note 2, 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. This instrument had no effect on the Consolidated Statements of Earnings in the three months ended November 2, 2013, and a $2 million loss recognized in gain (loss) from discontinued operations in the nine months ended November 2, 2013.

Summary of Derivative Balances
 
The following table presents the notional amounts of our foreign currency exchange contracts at November 2, 2013, February 2, 2013, and November 3, 2012 ($ in millions): 
 
 
Notional Amount
Contract Type
 
November 2, 2013
 
February 2, 2013
 
November 3, 2012
Derivatives not designated as hedging instruments
 
$
138

 
$
173

 
$
323

Earnings per Share
Earnings per Share
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 potentially dilutive common shares been issued. Potentially dilutive securities include stock options, nonvested share awards and shares issuable under our employee stock purchase plan. Nonvested market-based share awards and nonvested performance-based share awards are included in the average diluted shares outstanding for each period if established market or performance criteria have been met at the end of the respective periods.

The following table presents a reconciliation of the numerators and denominators of basic and diluted earnings per share from continuing operations attributable to Best Buy Co., Inc. ($ and shares in millions):
 
Three Months Ended
 
Nine Months Ended
 
November 2, 2013
 
November 3, 2012
 
November 2, 2013
 
November 3, 2012
Numerator
 

 
 

 
 
 
 
Net earnings (loss) from continuing operations
$
44

 
$
(9
)
 
$
378

 
$
191

Net earnings from continuing operations attributable to noncontrolling interests
(1
)
 
—

 
(1
)
 
—

Net earnings (loss) from continuing operations attributable to Best Buy Co., Inc.
$
43

 
$
(9
)
 
$
377

 
$
191

 


 


 
 
 
 
Denominator
 
 
 
 
 
 
 
Weighted-average common shares outstanding
342.8

 
337.2

 
340.7

 
339.3

Effect of potentially dilutive securities:
 
 
 
 
 
 
 
Nonvested share awards
6.1

 
—

 
4.6

 
1.1

Weighted-average common shares outstanding, assuming dilution
348.9

 
337.2

 
345.3

 
340.4

 
 
 
 
 
 
 
 
Net earnings (loss) per share from continuing operations attributable to Best Buy Co., Inc.
 
 
 
 
 
 
 
Basic
$
0.13

 
$
(0.03
)
 
$
1.11

 
$
0.56

Diluted
$
0.12

 
$
(0.03
)
 
$
1.09

 
$
0.56



The computation of weighted-average common shares outstanding, assuming dilution, excluded options to purchase 12.6 million shares of our common stock for the three months ended November 2, 2013 and options to purchase 16.4 million and 28.6 million shares of our common stock for the nine months ended November 2, 2013, and November 3, 2012, respectively. These amounts were excluded as the options’ exercise prices were greater than the average market price of our common stock for the periods presented and, therefore, the effect would be anti-dilutive (i.e., including such options would result in higher earnings per share). The calculation of the diluted loss per share for the three months ended November 3, 2012 does not include potentially dilutive securities because their inclusion would be anti-dilutive (i.e. reduce the net loss per share).
Comprehensive Income
Comprehensive Income
Comprehensive Income
 
The following tables provide a reconciliation of the components of accumulated other comprehensive income, net of tax, attributable to Best Buy Co., Inc. for the three and nine months ended November 2, 2013, and November 3, 2012, respectively ($ in millions):
 
Foreign Currency Translation
 
Available-For-Sale Investments
 
Total
Balances at August 3, 2013
$
528

 
$
1

 
$
529

Foreign currency translation adjustments
(2
)
 
—

 
(2
)
Unrealized gains on available-for-sale investments
—

 
1

 
1

Balances at November 2, 2013
$
526

 
$
2

 
$
528



 
Foreign Currency Translation
 
Available-For-Sale Investments
 
Total
Balances at February 2, 2013
$
113

 
$
(1
)
 
$
112

Foreign currency translation adjustments
(95
)
 
—

 
(95
)
Reclassification of foreign currency translation adjustments into earnings due to sale of business
508

 
—

 
508

Unrealized gains on available-for-sale investments
—

 
2

 
2

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

 
1

 
1

Balances at November 2, 2013
$
526

 
$
2

 
$
528

 
Foreign Currency Translation
 
Available-For-Sale Investments
 
Total
Balances at August 4, 2012
$
87

 
$
(1
)
 
$
86

Foreign currency translation adjustments
18

 
—

 
18

Unrealized gains on available-for-sale investments
—

 
1

 
1

Balances at November 3, 2012
$
105

 
$
—

 
$
105



 
Foreign Currency Translation
 
Available-For-Sale Investments
 
Total
Balances at March 3, 2012
$
93

 
$
(3
)
 
$
90

Adjustment for fiscal year change
(16
)
 
—

 
(16
)
Balances at January 28, 2012
77

 
(3
)
 
74

Foreign currency translation adjustments
28

 
—

 
28

Unrealized gains on available-for-sale investments
—

 
3

 
3

Balances at November 3, 2012
$
105

 
$
—

 
$
105



There is no tax impact related to foreign currency translation adjustments, as the earnings are considered permanently reinvested. In addition, there were no material tax impacts related to gains or losses on available-for-sale investments in the periods presented.
Repurchase of Common Stock
Repurchase of Common Stock
Repurchase of Common Stock

In June 2011, our Board of Directors authorized a $5.0 billion share repurchase program. There is no expiration date governing the period over which we can repurchase shares under the June 2011 share repurchase program. For the nine months ended November 3, 2012, we repurchased 10.9 million shares of our common stock at a cost of $237 million. No shares were repurchased during the three months ended November 3, 2012, nor the three or nine months ended November 2, 2013.

At November 2, 2013, $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. We have currently suspended our share repurchase program.
Segments
Segments
Segments
 
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 United States and its territories) and International (which is comprised of all operations outside the United States and its territories). Our CODM has ultimate responsibility for enterprise decisions. Our CODM determines, in particular, resource allocation for, and monitors the performance of, the consolidated enterprise, the Domestic segment and the International segment. Segment managers for the Domestic segment and the International segment have responsibility for operating decisions, allocating resources and assessing performance within their respective segments. Our CODM relies on internal management reporting that analyzes enterprise 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, in the Notes to Consolidated Financial Statements included in our Transition Report on Form 10-K for the fiscal year ended February 2, 2013, and the recast financial information included in the June 21st Form 8-K.

Revenue by reportable segment was as follows ($ in millions):
 
Three Months Ended
 
Nine Months Ended
 
November 2, 2013
 
November 3, 2012
 
November 2, 2013
 
November 3, 2012
Domestic
$
7,847

 
$
7,673

 
$
23,635

 
$
24,298

International
1,515

 
1,708

 
4,407

 
4,795

Total revenue
$
9,362

 
$
9,381

 
$
28,042

 
$
29,093

 
Operating income (loss) by reportable segment and the reconciliation to earnings (loss) from continuing operations before income tax expense (benefit) were as follows ($ in millions):
 
Three Months Ended
 
Nine Months Ended
 
November 2, 2013
 
November 3, 2012
 
November 2, 2013
 
November 3, 2012
Domestic
$
111

 
$
16

 
$
753

 
$
394

International
(20
)
 
(14
)
 
(81
)
 
(40
)
Total operating income
91

 
2

 
672

 
354

Other income (expense)
 
 
 
 
 
 
 
Gain on sale of investments
4

 
—

 
18

 
—

Investment income and other
8

 
10

 
18

 
15

Interest expense
(24
)
 
(27
)
 
(77
)
 
(81
)
Earnings (loss) from continuing operations before income tax expense (benefit)
$
79

 
$
(15
)
 
$
631

 
$
288

 
Assets by reportable segment were as follows ($ in millions):
 
November 2, 2013
 
February 2, 2013
 
November 3, 2012
Domestic
$
11,971

 
$
10,874

 
$
11,291

International
3,097

 
5,913

 
6,265

Total assets
$
15,068

 
$
16,787

 
$
17,556

Contingencies
Contingencies
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 filed a Motion to Reconsider the August 5 Order and also a Motion to Certify that Order for Interlocutory Review by the Eighth Circuit Court of Appeals. Decisions on those motions are pending. 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 our opening brief and Techforward’s opposition have been filed. We intend to vigorously pursue this appeal and 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 selling, general and administrative expenses. As of November 2, 2013, $137 million of the gross settlement proceeds had been received, with the remaining $127 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 prior quarters. As to HannStar, we have applied to the trial court for attorney fees, costs and disbursements. A decision on that application is pending.

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.
Discontinued Operations (Tables)
Schedule of Assets and Liabilities Disposed of by Sale, in Period of Disposition 
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 Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures 
The financial results of discontinued operations for the three and nine months ended November 2, 2013, and November 3, 2012, were as follows ($ in millions):
 
Three Months Ended
 
Nine Months Ended
 
November 2, 2013
 
November 3, 2012
 
November 2, 2013
 
November 3, 2012
Revenue
$
—

 
$
1,372

 
$
2,682

 
$
3,825

 
 
 
 
 
 
 
 
Restructuring charges(1)
—

 
6

 
100

 
(1
)
 
 
 
 
 
 
 
 
Gain (loss) from discontinued operations before income tax benefit (expense)
—

 
17

 
(235
)
 
(55
)
Income tax benefit (expense)(2)
10

 
(6
)
 
34

 
14

Gain on sale of discontinued operations
—

 
—

 
52

 
—

Equity in loss of affiliates
—

 
(1
)
 
—

 
(4
)
Net gain (loss) from discontinued operations, including noncontrolling interests
10

 
10

 
(149
)
 
(45
)
Net (gain) loss from discontinued operations attributable to noncontrolling interests
1

 
(11
)
 
11

 
14

Net gain (loss) from discontinued operations attributable to Best Buy Co., Inc. shareholders
$
11

 
$
(1
)
 
$
(138
)
 
$
(31
)
 
(1)  
See Note 6, Restructuring Charges, for further discussion of the restructuring charges associated with discontinued operations.
(2)  
Income tax benefit for the three months ended November 2, 2013 includes a $16 million benefit related to the impairment of our investment in Best Buy Europe, partially offset by $(6) million of expense related to a tax allocation between continuing and discontinued operations. The fiscal 2014 effective tax rate for discontinued operations differs from the statutory tax rate primarily due to the tax allocation, restructuring charges and the impairment of our investment in Best Buy Europe. The restructuring charges and impairment generally included minimal related tax benefit. The deferred tax assets related to the restructuring charges generally resulted in an increase in the valuation allowance in an equal amount, while the investment impairment is generally not tax deductible.
Investments (Tables)
Schedule of Investments
Investments were comprised of the following ($ in millions):
 
November 2, 2013
 
February 2, 2013
 
November 3, 2012
Equity and other investments
 

 
 

 
 

Debt securities (auction rate securities)
$
9

 
$
21

 
$
21

Marketable equity securities
10

 
27

 
3

Other investments
22

 
38

 
67

Total equity and other investments
$
41

 
$
86

 
$
91

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 November 2, 2013, February 2, 2013, and November 3, 2012, according to the valuation techniques we used to determine their fair values ($ in millions).
 
 
 
Fair Value Measurements
Using Inputs Considered as
 
Fair Value at
November 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
$
495

 
$
495

 
$
—

 
$
—

Equity and other investments
 

 
 

 
 

 
 

Auction rate securities
9

 
—

 
—

 
9

Marketable equity securities
10

 
10

 
—

 
—

 
 

 
 

 
 

 
 

LIABILITIES
 

 
 

 
 

 
 

Accrued liabilities
 
 
 
 
 
 
 
Foreign currency derivative instruments
2

 
—

 
2

 
—


 
 
 
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

 
—

Equity and other investments
 

 
 

 
 

 
 

Auction rate securities
21

 
—

 
—

 
21

Marketable equity securities
27

 
27

 
—

 
—

 
 
 
 
Fair Value Measurements
Using Inputs Considered as
 
Fair Value at
November 3, 2012
 
Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
ASSETS
 

 
 

 
 

 
 

Other current assets
 

 
 

 
 

 
 

Foreign currency derivative instruments
$
2

 
$
—

 
$
2

 
$
—

Equity and other investments
 

 
 

 
 

 
 

Auction rate securities
21

 
—

 
—

 
21

Marketable equity securities
3

 
3

 
—

 
—

 
 
 
 
 
 
 
 
LIABILITIES
 
 
 
 
 
 
 
Accrued liabilities
 

 
 

 
 

 
 

Foreign currency derivative instruments
1

 
—

 
1

 
—


Fair Value, Assets Measured on a Recurring Basis, Unobservable Input Reconciliation 
The following tables provide 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) for the three and nine months ended November 2, 2013, and the three and eight months ended November 3, 2012 ($ in millions).
 
Debt securities-
Auction rate securities only
 
Student loan
bonds
 
Municipal
revenue bonds
 
Total
Balances at August 3, 2013
$
14

 
$
2

 
$
16

Sales
(7
)
 
—

 
(7
)
Balances at November 2, 2013
$
7

 
$
2

 
$
9

  
 
Debt securities-
Auction rate securities only
 
Student loan
bonds
 
Municipal
revenue bonds
 
Total
Balances at February 2, 2013
$
19

 
$
2

 
$
21

Sales
(12
)
 
—

 
(12
)
Balances at November 2, 2013
$
7

 
$
2

 
$
9


 
Debt securities-
Auction rate securities only
 
Student loan
bonds
 
Municipal
revenue bonds
 
Total
Balances at August 4, 2012
$
20

 
$
2

 
$
22

Sales
(1
)
 
—

 
(1
)
Balances at November 3, 2012
$
19

 
$
2

 
$
21



 
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 included in other comprehensive income
4

 
—

 
4

Sales
(65
)
 
—

 
(65
)
Balances at November 3, 2012
$
19

 
$
2

 
$
21

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis 
The following table summarizes the fair value remeasurements recorded during the nine months ended November 2, 2013, and November 3, 2012 ($ in millions):
 
Nine Months Ended
 
Nine Months Ended
 
November 2, 2013
 
November 3, 2012
 
Impairments
 
Remaining Net Carrying Value
 
Impairments
 
Remaining Net Carrying Value
Continuing operations
 
 
 
 
 
 
 
Property and equipment
$
4

 
$
—

 
$
29

 
$
—

Investments
16

 
22

 
—

 
—

Total continuing operations
$
20

 
$
22

 
$
29

 
$
—

Discontinued operations(1)
 
 
 
 
 
 
 
Property and equipment(2)
$
220

 
$
—

 
$
—

 
$
—

Tradename
4

 
—

 
—

 
—

Total discontinued operations
$
224

 
$
—

 
$
—

 
$
—

(1) 
Property and equipment and tradename impairments associated with discontinued operations are recorded within gain (loss) from discontinued operations in our Consolidated Statements of Earnings.
(2) 
Includes the $175 million impairment to write down the book value of our investment in Best Buy Europe to fair value. Upon completion of the sale of Best Buy Europe as described in Note 2, Discontinued Operations, the remaining net carrying values of all assets have been reduced to zero.
Goodwill and Intangible Assets (Tables)
Schedule of Intangible Assets and Goodwill, by Segment 
The changes in the carrying values of goodwill and indefinite-lived tradenames by segment were as follows in the nine months ended November 2, 2013, and the eight months ended November 3, 2012 ($ in millions):
 
Goodwill
 
Indefinite-lived Tradenames
 
Domestic
 
International
 
Total
 
Domestic
 
International
 
Total
Balances at February 2, 2013
$
528

 
$
—

 
$
528

 
$
19

 
$
112

 
$
131

Changes in foreign currency exchange rates
—

 
—

 
—

 
—

 
(2
)
 
(2
)
Sale of Best Buy Europe
—

 
—

 
—

 
—

 
(22
)
 
(22
)
Impairments
—

 
—

 
—

 
—

 
(4
)
 
(4
)
Balances at November 2, 2013
$
528

 
$
—

 
$
528

 
$
19

 
$
84

 
$
103

 

 
Goodwill
 
Indefinite-lived Tradenames
 
Domestic
 
International
 
Total
 
Domestic
 
International
 
Total
Balances at March 3, 2012
$
516

 
$
819

 
$
1,335

 
$
19

 
$
112

 
$
131

Changes in foreign currency exchange rates
—

 
(5
)
 
(5
)
 
—

 
—

 
—

Acquisitions
14

 
—

 
14

 
—

 
—

 
—

Balances at November 3, 2012
$
530

 
$
814

 
$
1,344

 
$
19

 
$
112

 
$
131

Schedule of Gross Amount of Goodwill and Accumulated Goodwill Impairment Losses 
The following table provides the gross carrying amount of goodwill and cumulative goodwill impairment losses ($ in millions):
 
November 2, 2013
 
February 2, 2013
 
November 3, 2012
 
Gross
Carrying
Amount(1)
 
Cumulative
Impairment(1)
 
Gross
Carrying
Amount
 
Cumulative
Impairment
 
Gross
Carrying
Amount
 
Cumulative
Impairment
Goodwill
$
1,412

 
$
(884
)
 
$
2,608

 
$
(2,080
)
 
$
2,605

 
$
(1,261
)

 (1) 
Excludes the gross carrying amount and cumulative impairment related to Best Buy Europe, which was sold during the quarter ended August 3, 2013.
Goodwill and Intangible Assets - Schedule of Finite-Lived Intangible Assets by Major Class 
The following table provides the gross carrying values and related accumulated amortization of definite-lived intangible assets ($ in millions):
 
November 2, 2013
 
February 2, 2013
 
November 3, 2012
 
Gross
Carrying
Amount(1)
 
Accumulated
Amortization(1)
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Gross
Carrying
Amount
 
Accumulated
Amortization
Customer relationships
$
83

 
$
(11
)
 
$
475

 
$
(272
)
 
$
475

 
$
(262
)

(1) 
Excludes the gross carrying amount and accumulated amortization related to Best Buy Europe, which was sold during the quarter ended August 3, 2013.
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense 
The estimated future amortization expense for identifiable intangible assets is as follows ($ in millions):
Fiscal Year
 
Remainder of fiscal 2014
$
2

2015
6

2016
6

2017
6

2018
6

Thereafter
46

Restructuring Charges (Tables)
Composition of Restructuring Charges 
Charges incurred in the nine months ended November 2, 2013, and November 3, 2012, for our restructuring activities were as follows ($ in millions):
 
Nine Months Ended
 
November 2, 2013
 
November 3, 2012
Continuing operations
 
 
 
Renew Blue
$
52

 
$
—

Fiscal 2013 U.S. restructuring
(8
)
 
258

Fiscal 2012 restructuring
—

 
6

Fiscal 2011 restructuring
—

 
(12
)
Total
44

 
252

Discontinued operations
 
 
 
Fiscal 2013 Europe restructuring
95

 
2

Fiscal 2012 restructuring
5

 
(5
)
Fiscal 2011 restructuring
—

 
2

Total (Note 2)
100

 
(1
)
Total
$
144

 
$
251

Composition of Restructuring Charges 
The composition of the restructuring charges we incurred for this program in the nine months ended November 2, 2013, as well as the cumulative amount incurred through November 2, 2013, was as follows ($ in millions):
 
Domestic
 
International
 
Total
 
Nine Months Ended
November 2, 2013
 
Cumulative Amount through
November 2, 2013
 
Nine Months Ended
November 2, 2013
 
Cumulative Amount through
November 2, 2013
 
Nine Months Ended
November 2, 2013
 
Cumulative Amount through
November 2, 2013
Continuing operations
 
 
 
 
 
 
 
 
 
 
 
Inventory write-downs
$
—

 
$
1

 
$
—

 
$
—

 
$
—

 
$
1

Property and equipment impairments
2

 
9

 
2

 
25

 
4

 
34

Termination benefits
16

 
62

 
10

 
19

 
26

 
81

Investment impairments
16

 
43

 
—

 
—

 
16

 
43

Facility closure and other costs
—

 
3

 
6

 
61

 
6

 
64

Total
$
34

 
$
118

 
$
18

 
$
105

 
$
52

 
$
223

Restructuring Accrual Activity 
The following table summarizes our restructuring accrual activity during the nine months ended November 2, 2013, 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 February 2, 2013
$
54

 
$
54

 
$
108

Charges
25

 
14

 
39

Cash payments
(65
)
 
(16
)
 
(81
)
Adjustments
(7
)
 
8

 
1

Changes in foreign currency exchange rates
1

 
(1
)
 
—

Balance at November 2, 2013
$
8

 
$
59

 
$
67

Composition of Restructuring Charges 
The composition of the restructuring charges we incurred for this program in the nine months ended November 2, 2013 and November 3, 2012, as well as the cumulative amount incurred through November 2, 2013, was as follows ($ in millions):
 
Nine Months Ended
November 2, 2013
 
Nine Months Ended
November 3, 2012
 
Cumulative Amount through
November 2, 2013
Discontinued operations
 
 
 
 
 
Inventory write-downs
$
7

 
$
—

 
$
7

Property and equipment impairments
45

 
—

 
57

Termination benefits
36

 
2

 
55

Tradename impairment
4

 
—

 
4

Facility closure and other costs
3

 
—

 
8

Total
$
95

 
$
2

 
$
131

Restructuring Accrual Activity 
The following table summarizes our restructuring accrual activity during the nine months ended November 2, 2013, and the eight months ended November 3, 2012, 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 February 2, 2013
$
—

 
$
5

 
$
5

Charges
36

 
2

 
38

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

 
(34
)
Balance at November 2, 2013
$
—

 
$
—

 
$
—


(1) 
Represents the remaining liability written off as a result of the sale of Best Buy Europe, as described in Note 2, Discontinued Operations.
 
Termination
Benefits
Balance at March 3, 2012
$
—

Charges
2

Cash payments
(2
)
Balance at November 3, 2012
$
—


Composition of Restructuring Charges 
The composition of the restructuring charges we incurred for this program in the nine months ended November 2, 2013, and November 3, 2012, as well as the cumulative amount incurred through November 2, 2013, was as follows ($ in millions):
 
Nine Months Ended
 
Cumulative Amount through November 2, 2013
 
November 2, 2013
 
November 3, 2012
 
Continuing operations
 
 
 
 
 
Property and equipment impairments
$
—

 
$
28

 
$
29

Termination benefits
—

 
83

 
77

Facility closure and other costs, net
(8
)
 
147

 
143

Total
$
(8
)
 
$
258

 
$
249

Restructuring Accrual Activity 
The following table summarizes our restructuring accrual activity during the nine months ended November 2, 2013, and the eight months ended November 3, 2012, 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 February 2, 2013
$
4

 
$
113

 
$
117

Charges
—

 
3

 
3

Cash payments
(2
)
 
(39
)
 
(41
)
Adjustments
(2
)
 
(13
)
 
(15
)
Balance at November 2, 2013
$
—

 
$
64

 
$
64

 
Termination
Benefits
 
Facility
Closure and
Other Costs
 
Total
Balance at March 3, 2012
$
—

 
$
—

 
$
—

Charges
109

 
145

 
254

Cash payments
(65
)
 
(18
)
 
(83
)
Adjustments
(31
)
 
(3
)
 
(34
)
Balance at November 3, 2012
$
13

 
$
124

 
$
137


Composition of Restructuring Charges 
The composition of the restructuring charges we incurred for this program in the nine months ended November 2, 2013, and November 3, 2012, as well as the cumulative amount incurred through November 2, 2013, was as follows ($ in millions):
 
Domestic
 
International
 
Total
 
Nine Months Ended
 
Cumulative Amount through
November 2, 2013
 
Nine Months Ended
 
Cumulative Amount through
November 2, 2013
 
Nine Months Ended
 
Cumulative Amount through
November 2, 2013
 
Nov. 2, 2013
 
Nov. 3, 2012
 
 
Nov. 2, 2013
 
Nov. 3, 2012
 
 
Nov. 2, 2013
 
Nov. 3, 2012
 
Continuing operations
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property and equipment impairments
$
—

 
$
1

 
$
17

 
$
—

 
$
—

 
$
15

 
$
—

 
$
1

 
$
32

Termination benefits
—

 
—

 
1

 
—

 
—

 
—

 
—

 
—

 
1

Facility closure and other costs
—

 
5

 
5

 
—

 
—

 
—

 
—

 
5

 
5

Total
—

 
6

 
23

 
—

 
—

 
15

 
—

 
6

 
38

Discontinued operations
 
 
 
 
 
 
 
 
 
 
 
 


 


 
 
Inventory write-downs
—

 
—

 
—

 
—

 
—

 
11

 
—

 
—

 
11

Property and equipment impairments
—

 
—

 
—

 
—

 
—

 
96

 
—

 
—

 
96

Termination benefits
—

 
—

 
—

 
—

 
1

 
17

 
—

 
1

 
17

Facility closure and other costs
—

 
—

 
—

 
5

 
(6
)
 
84

 
5

 
(6
)
 
84

Total
—

 
—

 
—

 
5

 
(5
)

208

 
5

 
(5
)
 
208

Total
$
—

 
$
6

 
$
23

 
$
5

 
$
(5
)
 
$
223

 
$
5

 
$
1

 
$
246

Restructuring Accrual Activity 
The following table summarizes our restructuring accrual activity during the nine months ended November 2, 2013, and the eight months ended November 3, 2012, related to termination benefits and facility closure and other costs associated with this program ($ in millions):
 
Facility
Closure and
Other Costs
Balance at February 2, 2013
$
36

Cash payments
(33
)
Adjustments(1)
(1
)
Changes in foreign currency exchange rates
(2
)
Balance at November 2, 2013
$
—

(1) 
Included within the adjustments 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 2, Discontinued Operations.
 
Termination
Benefits
 
Facility
Closure and
Other Costs(1)
 
Total
Balance at March 3, 2012
$
17

 
$
85

 
$
102

Charges
1

 
2

 
3

Cash payments
(17
)
 
(81
)
 
(98
)
Adjustments
—

 
25

 
25

Changes in foreign currency exchange rates
—

 
3

 
3

Balance at November 3, 2012
$
1

 
$
34

 
$
35

(1) 
Included within the adjustments to facility closure and other costs is $34 million from the first quarter of fiscal 2013, representing an adjustment to exclude non-cash charges or benefits, which had no impact on our Consolidated Statements of Earnings in the first quarter of fiscal 2013.
Debt (Tables)
Short-term Debt 
Short-term debt consisted of the following ($ in millions):
 
November 2, 2013
 
February 2, 2013
 
November 3, 2012
U.S. revolving credit facility – 364-Day
$
—

 
$
—

 
$
—

U.S. revolving credit facility – 5-Year
—

 
—

 
—

Europe revolving credit facility(1)
—

 
596

 
310

Canada revolving demand facility
—

 
—

 
—

China revolving demand facilities
—

 
—

 
—

   Total short-term debt
$
—

 
$
596

 
$
310

(1) 
Short-term debt associated with the Europe revolving credit facility is related to our Best Buy Europe operations, which we sold on June 26, 2013, as described in Note 2, Discontinued Operations.

Schedule of Long-term Debt 
Long-term debt consisted of the following ($ in millions):
 
November 2, 2013
 
February 2, 2013
 
November 3, 2012
2013 Notes
$
—

 
$
500

 
$
500

2016 Notes
349

 
349

 
349

2018 Notes
500

 
—

 
—

2021 Notes
649

 
648

 
648

Financing lease obligations
103

 
122

 
130

Capital lease obligations
67

 
80

 
74

Other debt
1

 
1

 
1

   Total long-term debt
1,669

 
1,700

 
1,702

Less: current portion(1)
(45
)
 
(547
)
 
(544
)
   Total long-term debt, less current portion
$
1,624

 
$
1,153

 
$
1,158

 
(1) 
Our 2013 Notes due July 15, 2013, which were retired on July 15, 2013, are classified in the current portion of long-term debt as of February 2, 2013, and November 3, 2012.
Derivative Instruments (Tables)
Notional Amounts Foreign Currency Exchange Contracts
The following table presents the notional amounts of our foreign currency exchange contracts at November 2, 2013, February 2, 2013, and November 3, 2012 ($ in millions): 
 
 
Notional Amount
Contract Type
 
November 2, 2013
 
February 2, 2013
 
November 3, 2012
Derivatives not designated as hedging instruments
 
$
138

 
$
173

 
$
323

 
Earnings per Share (Tables)
Schedule of Calculation of Numerator and Denominator in Earnings Per Share
The following table presents a reconciliation of the numerators and denominators of basic and diluted earnings per share from continuing operations attributable to Best Buy Co., Inc. ($ and shares in millions):
 
Three Months Ended
 
Nine Months Ended
 
November 2, 2013
 
November 3, 2012
 
November 2, 2013
 
November 3, 2012
Numerator
 

 
 

 
 
 
 
Net earnings (loss) from continuing operations
$
44

 
$
(9
)
 
$
378

 
$
191

Net earnings from continuing operations attributable to noncontrolling interests
(1
)
 
—

 
(1
)
 
—

Net earnings (loss) from continuing operations attributable to Best Buy Co., Inc.
$
43

 
$
(9
)
 
$
377

 
$
191

 


 


 
 
 
 
Denominator
 
 
 
 
 
 
 
Weighted-average common shares outstanding
342.8

 
337.2

 
340.7

 
339.3

Effect of potentially dilutive securities:
 
 
 
 
 
 
 
Nonvested share awards
6.1

 
—

 
4.6

 
1.1

Weighted-average common shares outstanding, assuming dilution
348.9

 
337.2

 
345.3

 
340.4

 
 
 
 
 
 
 
 
Net earnings (loss) per share from continuing operations attributable to Best Buy Co., Inc.
 
 
 
 
 
 
 
Basic
$
0.13

 
$
(0.03
)
 
$
1.11

 
$
0.56

Diluted
$
0.12

 
$
(0.03
)
 
$
1.09

 
$
0.56

Comprehensive Income (Tables)
Schedule of Accumulated Other Comprehensive Income (Loss)
The following tables provide a reconciliation of the components of accumulated other comprehensive income, net of tax, attributable to Best Buy Co., Inc. for the three and nine months ended November 2, 2013, and November 3, 2012, respectively ($ in millions):
 
Foreign Currency Translation
 
Available-For-Sale Investments
 
Total
Balances at August 3, 2013
$
528

 
$
1

 
$
529

Foreign currency translation adjustments
(2
)
 
—

 
(2
)
Unrealized gains on available-for-sale investments
—

 
1

 
1

Balances at November 2, 2013
$
526

 
$
2

 
$
528



 
Foreign Currency Translation
 
Available-For-Sale Investments
 
Total
Balances at February 2, 2013
$
113

 
$
(1
)
 
$
112

Foreign currency translation adjustments
(95
)
 
—

 
(95
)
Reclassification of foreign currency translation adjustments into earnings due to sale of business
508

 
—

 
508

Unrealized gains on available-for-sale investments
—

 
2

 
2

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

 
1

 
1

Balances at November 2, 2013
$
526

 
$
2

 
$
528

 
Foreign Currency Translation
 
Available-For-Sale Investments
 
Total
Balances at August 4, 2012
$
87

 
$
(1
)
 
$
86

Foreign currency translation adjustments
18

 
—

 
18

Unrealized gains on available-for-sale investments
—

 
1

 
1

Balances at November 3, 2012
$
105

 
$
—

 
$
105



 
Foreign Currency Translation
 
Available-For-Sale Investments
 
Total
Balances at March 3, 2012
$
93

 
$
(3
)
 
$
90

Adjustment for fiscal year change
(16
)
 
—

 
(16
)
Balances at January 28, 2012
77

 
(3
)
 
74

Foreign currency translation adjustments
28

 
—

 
28

Unrealized gains on available-for-sale investments
—

 
3

 
3

Balances at November 3, 2012
$
105

 
$
—

 
$
105

Segments (Tables)
Business Segment Information
Revenue by reportable segment was as follows ($ in millions):
 
Three Months Ended
 
Nine Months Ended
 
November 2, 2013
 
November 3, 2012
 
November 2, 2013
 
November 3, 2012
Domestic
$
7,847

 
$
7,673

 
$
23,635

 
$
24,298

International
1,515

 
1,708

 
4,407

 
4,795

Total revenue
$
9,362

 
$
9,381

 
$
28,042

 
$
29,093

 
Operating income (loss) by reportable segment and the reconciliation to earnings (loss) from continuing operations before income tax expense (benefit) were as follows ($ in millions):
 
Three Months Ended
 
Nine Months Ended
 
November 2, 2013
 
November 3, 2012
 
November 2, 2013
 
November 3, 2012
Domestic
$
111

 
$
16

 
$
753

 
$
394

International
(20
)
 
(14
)
 
(81
)
 
(40
)
Total operating income
91

 
2

 
672

 
354

Other income (expense)
 
 
 
 
 
 
 
Gain on sale of investments
4

 
—

 
18

 
—

Investment income and other
8

 
10

 
18

 
15

Interest expense
(24
)
 
(27
)
 
(77
)
 
(81
)
Earnings (loss) from continuing operations before income tax expense (benefit)
$
79

 
$
(15
)
 
$
631

 
$
288

 
Assets by reportable segment were as follows ($ in millions):
 
November 2, 2013
 
February 2, 2013
 
November 3, 2012
Domestic
$
11,971

 
$
10,874

 
$
11,291

International
3,097

 
5,913

 
6,265

Total assets
$
15,068

 
$
16,787

 
$
17,556

Basis of Presentation (Details)
9 Months Ended
Nov. 2, 2013
Nov. 3, 2012
Organization, Consolidation and Presentation of Financial Statements [Abstract]
 
 
Number of weeks in fiscal period
P39W 
P40W 
Reporting period lag for consolidation of financial results
1 month 
 
Discontinued Operations (Details)
In Millions, unless otherwise specified
0 Months Ended 3 Months Ended 9 Months Ended
Jul. 3, 2013
USD ($)
Jun. 26, 2013
USD ($)
Jun. 26, 2013
GBP (£)
Nov. 2, 2013
USD ($)
Nov. 3, 2012
USD ($)
Nov. 2, 2013
USD ($)
Nov. 3, 2012
USD ($)
Feb. 2, 2013
USD ($)
Jan. 28, 2012
USD ($)
Jun. 26, 2013
Best Buy Europe [Member]
USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
 
 
 
 
 
 
 
 
 
 
Other Tax Expense (Benefit)
 
 
 
$ 16 
 
 
 
 
 
 
Proceeds from divestiture of businesses
 
526 
341 
 
 
 
 
 
 
 
Amount of shares received from divestiture of business
123 
123 
80 
 
 
 
 
 
 
 
Future cash consideration from divestiture of business, due in one year
 
39 
25 
 
 
 
 
 
 
 
Future cash consideration from divestiture of business, due in two years
 
39 
25 
 
 
 
 
 
 
 
Interest rate on future cash consideration from divestiture of business
 
2.50% 
2.50% 
 
 
 
 
 
 
 
Cash and cash equivalents
 
 
 
2,170 
309 
2,170 
309 
1,826 
1,199 
597 
Receivables
 
 
 
1,123 
2,250 
1,123 
2,250 
2,704 
 
1,295 
Merchandise inventories
 
 
 
6,978 
8,156 
6,978 
8,156 
6,571 
 
554 
Other current assets
 
 
 
963 
1,131 
963 
1,131 
946 
 
168 
Net property and equipment
 
 
 
2,726 
3,407 
2,726 
3,407 
3,270 
 
159 
Other assets
 
 
 
364 
524 
364 
524 
522 
 
316 
Total Assets
 
 
 
15,068 
17,556 
15,068 
17,556 
16,787 
 
3,089 
Accounts payable
 
 
 
6,578 
7,933 
6,578 
7,933 
6,951 
 
790 
Short-term debt
 
 
 
0 
310 
0 
310 
596 
 
973 
Other current liabilities
 
 
 
 
 
 
 
 
 
1,145 
Long-term liabilities
 
 
 
1,035 
1,122 
1,035 
1,122 
1,109 
 
65 
Total liabilities
 
 
 
 
 
 
 
 
 
2,973 
Revenue
 
 
 
0 
1,372 
2,682 
3,825 
 
 
 
Restructuring charges
 
 
 
0 1
6 1
100 1
(1)1
 
 
 
Gain (loss) from discontinued operations before income tax benefit (expense)
 
 
 
0 
17 
(235)
(55)
 
 
 
Income tax benefit (expense)
 
 
 
10 2
(6)
34 
14 
 
 
 
Gain on sale of discontinued operations
 
 
 
0 
0 
52 
0 
 
 
 
Equity in loss of affiliates
 
 
 
0 
(1)
0 
(4)
 
 
 
Net gain (loss) from discontinued operations, including noncontrolling interests
 
 
 
10 
10 
(149)
(45)
 
 
 
Net (gain) loss from discontinued operations attributable to noncontrolling interests
 
 
 
1 
(11)
11 
14 
 
 
 
Net gain (loss) from discontinued operations attributable to Best Buy Co., Inc. shareholders
 
 
 
11 
(1)
(138)
(31)
 
 
 
Income tax benefit, intraperiod tax allocation
 
 
 
$ (6)
 
 
 
 
 
 
Investments (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 9 Months Ended
Nov. 2, 2013
Nov. 2, 2013
investments
Feb. 2, 2013
Nov. 3, 2012
Schedule of Investments
 
 
 
 
Total equity and other investments
$ 41 
$ 41 
$ 86 
$ 91 
Number of investments in portfolio
 
3 
 
 
Securities redeemed
7 
 
 
 
Debt Securities (Auction-Rate Securities) [Member]
 
 
 
 
Schedule of Investments
 
 
 
 
Total equity and other investments
9 
9 
21 
21 
Auction rate securities, par value
10 
10 
 
 
Investments, Fair Value Disclosure
9 
9 
 
 
Marketable Equity Securities [Member]
 
 
 
 
Schedule of Investments
 
 
 
 
Total equity and other investments
10 
10 
27 
3 
Other Investments [Member]
 
 
 
 
Schedule of Investments
 
 
 
 
Total equity and other investments
$ 22 
$ 22 
$ 38 
$ 67 
Fair Value Measurements (Details) (Fair Value, Measurements, Recurring [Member], USD $)
In Millions, unless otherwise specified
Nov. 2, 2013
Feb. 2, 2013
Nov. 3, 2012
Fair Value [Member] |
Cash and Cash Equivalents [Member] |
Money Market Funds [Member]
 
 
 
ASSETS
 
 
 
Cash and cash equivalents
$ 495 
$ 520 
 
Fair Value [Member] |
Other Current Assets [Member]
 
 
 
ASSETS
 
 
 
Foreign currency derivative instruments
 
1 
2 
Fair Value [Member] |
Equity and Other Investments [Member]
 
 
 
ASSETS
 
 
 
Auction rate securities
9 
21 
21 
Marketable equity securities
10 
27 
3 
Fair Value [Member] |
Accrued Liabilities [Member]
 
 
 
LIABILITIES
 
 
 
Foreign currency derivative instruments
2 
 
1 
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] |
Cash and Cash Equivalents [Member] |
Money Market Funds [Member]
 
 
 
ASSETS
 
 
 
Cash and cash equivalents
495 
520 
 
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] |
Other Current Assets [Member]
 
 
 
ASSETS
 
 
 
Foreign currency derivative instruments
 
0 
0 
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] |
Equity and Other Investments [Member]
 
 
 
ASSETS
 
 
 
Auction rate securities
0 
0 
0 
Marketable equity securities
10 
27 
3 
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] |
Accrued Liabilities [Member]
 
 
 
LIABILITIES
 
 
 
Foreign currency derivative instruments
0 
 
0 
Significant Other Observable Inputs (Level 2) [Member] |
Cash and Cash Equivalents [Member] |
Money Market Funds [Member]
 
 
 
ASSETS
 
 
 
Cash and cash equivalents
0 
0 
 
Significant Other Observable Inputs (Level 2) [Member] |
Other Current Assets [Member]
 
 
 
ASSETS
 
 
 
Foreign currency derivative instruments
 
1 
2 
Significant Other Observable Inputs (Level 2) [Member] |
Equity and Other Investments [Member]
 
 
 
ASSETS
 
 
 
Auction rate securities
0 
0 
0 
Marketable equity securities
0 
0 
0 
Significant Other Observable Inputs (Level 2) [Member] |
Accrued Liabilities [Member]
 
 
 
LIABILITIES
 
 
 
Foreign currency derivative instruments
2 
 
1 
Significant Unobservable Inputs (Level 3) [Member] |
Cash and Cash Equivalents [Member] |
Money Market Funds [Member]
 
 
 
ASSETS
 
 
 
Cash and cash equivalents
0 
0 
 
Significant Unobservable Inputs (Level 3) [Member] |
Other Current Assets [Member]
 
 
 
ASSETS
 
 
 
Foreign currency derivative instruments
 
0 
0 
Significant Unobservable Inputs (Level 3) [Member] |
Equity and Other Investments [Member]
 
 
 
ASSETS
 
 
 
Auction rate securities
9 
21 
21 
Marketable equity securities
0 
0 
0 
Significant Unobservable Inputs (Level 3) [Member] |
Accrued Liabilities [Member]
 
 
 
LIABILITIES
 
 
 
Foreign currency derivative instruments
$ 0 
 
$ 0 
Fair Value Measurements (Details 2) (USD $)
In Millions, unless otherwise specified
3 Months Ended 8 Months Ended 9 Months Ended
Nov. 2, 2013
Nov. 3, 2012
Nov. 3, 2012
Nov. 2, 2013
Fair Value, Assets Measured On Recurring Basis, Unobservable Input Reconciliation.
 
 
 
 
Balance at the beginning of the period
$ 16 
$ 22 
$ 82 
$ 21 
Changes in unrealized losses included in other comprehensive income
 
 
4 
 
Sales
(7)
(1)
(65)
(12)
Balance at the end of the period
9 
21 
21 
9 
Student loan bonds [Member]
 
 
 
 
Fair Value, Assets Measured On Recurring Basis, Unobservable Input Reconciliation.
 
 
 
 
Balance at the beginning of the period
14 
20 
80 
19 
Changes in unrealized losses included in other comprehensive income
 
 
4 
 
Sales
(7)
(1)
(65)
(12)
Balance at the end of the period
7 
19 
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 
2 
2 
Changes in unrealized losses included in other comprehensive income
 
 
0 
 
Sales
0 
0 
0 
0 
Balance at the end of the period
$ 2 
$ 2 
$ 2 
$ 2 
Fair Value Measurements (Details 3) (USD $)
In Millions, unless otherwise specified
9 Months Ended
Nov. 2, 2013
Nov. 3, 2012
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Tradename, Impairments
$ 4 
 
Continuing Operations [Member] |
Fair Value, Measurements, Nonrecurring [Member] |
Significant Unobservable Inputs (Level 3) [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Property and equipment, Impairments
4 
29 
Property and equipment, Remaining Net Carrying Value
0 
0 
Investments, Impairments
16 
0 
Investments, Remaining Net Carrying Value
22 
0 
Total discontinued operations, Impairments
20 
29 
Total discontinued operations, Remaining Net Carrying Value
22 
0 
Discontinued Operations [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Impairment of long-lived assets to be disposed of
175 
 
Discontinued Operations [Member] |
Fair Value, Measurements, Nonrecurring [Member] |
Significant Unobservable Inputs (Level 3) [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Property and equipment, Impairments
220 1 2
0 1 2
Property and equipment, Remaining Net Carrying Value
0 
0 
Total discontinued operations, Impairments
224 
0 
Total discontinued operations, Remaining Net Carrying Value
0 
0 
Tradename [Member] |
Discontinued Operations [Member] |
Fair Value, Measurements, Nonrecurring [Member] |
Significant Unobservable Inputs (Level 3) [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Tradename, Impairments
4 2
0 2
Tradename, Remaining Net Carrying Value
$ 0 
$ 0 
Goodwill and Intangible Assets (Details) (USD $)
In Millions, unless otherwise specified
8 Months Ended 9 Months Ended
Nov. 3, 2012
Nov. 2, 2013
Feb. 2, 2013
Goodwill [Roll Forward]
 
 
 
Goodwill, Balance at the beginning of the period
$ 1,335 
$ 528 
 
Goodwill, Changes in foreign currency exchange rates
(5)
0 
 
Goodwill, Sale of Best Buy Europe
 
0 
 
Goodwill, Impairments
 
0 
 
Goodwill, Acquisitions
14 
 
 
Goodwill, Balance at the end of the period
1,344 
528 
 
Indefinite-lived Tradenames [Roll Forward]
 
 
 
Indefinite-lived Tradenames, Beginning balance
131 
131 
 
Indefinite-lived Tradenames, Changes in foreign currency exchange rates, Tradenames
0 
(2)
 
Indefinite-lived Tradenames, Sale of Best Buy Europe
 
(22)
 
Indefinite-lived Tradenames, Impairments
 
(4)
 
Indefinite-lived Tradenames, Acquisitions
0 
 
 
Indefinite-lived Tradenames, Ending balance
131 
103 
 
Gross amount of goodwill and the accumulated goodwill impairment losses
 
 
 
Gross Carrying Amount
2,605 
1,412 1
2,608 
Cumulative Impairment
(1,261)
(884)1
(2,080)
Domestic [Member]
 
 
 
Goodwill [Roll Forward]
 
 
 
Goodwill, Balance at the beginning of the period
516 
528 
 
Goodwill, Changes in foreign currency exchange rates
0 
0 
 
Goodwill, Sale of Best Buy Europe
 
0 
 
Goodwill, Impairments
 
0 
 
Goodwill, Acquisitions
14 
 
 
Goodwill, Balance at the end of the period
530 
528 
 
Indefinite-lived Tradenames [Roll Forward]
 
 
 
Indefinite-lived Tradenames, Beginning balance
19 
19 
 
Indefinite-lived Tradenames, Changes in foreign currency exchange rates, Tradenames
0 
0 
 
Indefinite-lived Tradenames, Sale of Best Buy Europe
 
0 
 
Indefinite-lived Tradenames, Impairments
 
0 
 
Indefinite-lived Tradenames, Acquisitions
0 
 
 
Indefinite-lived Tradenames, Ending balance
19 
19 
 
International [Member]
 
 
 
Goodwill [Roll Forward]
 
 
 
Goodwill, Balance at the beginning of the period
819 
0 
 
Goodwill, Changes in foreign currency exchange rates
(5)
0 
 
Goodwill, Sale of Best Buy Europe
 
0 
 
Goodwill, Impairments
 
0 
 
Goodwill, Acquisitions
0 
 
 
Goodwill, Balance at the end of the period
814 
0 
 
Indefinite-lived Tradenames [Roll Forward]
 
 
 
Indefinite-lived Tradenames, Beginning balance
112 
112 
 
Indefinite-lived Tradenames, Changes in foreign currency exchange rates, Tradenames
0 
(2)
 
Indefinite-lived Tradenames, Sale of Best Buy Europe
 
(22)
 
Indefinite-lived Tradenames, Impairments
 
(4)
 
Indefinite-lived Tradenames, Acquisitions
0 
 
 
Indefinite-lived Tradenames, Ending balance
$ 112 
$ 84 
 
Goodwill and Intangible Assets (Details 2) (USD $)
In Millions, unless otherwise specified
3 Months Ended 9 Months Ended
Nov. 2, 2013
Nov. 3, 2012
Nov. 2, 2013
Nov. 3, 2012
Nov. 2, 2013
Customer Relationships [Member]
Feb. 2, 2013
Customer Relationships [Member]
Nov. 3, 2012
Customer Relationships [Member]
Finite-Lived Intangible Assets
 
 
 
 
 
 
 
Gross Carrying Amount
 
 
 
 
$ 83 1
$ 475 
$ 475 
Accumulated Amortization
 
 
 
 
(11)1
(272)
(262)
Amortization expense
1 
10 
13 
30 
 
 
 
Depreciation and amortization, discontinued operations
$ 0 
$ 9 
$ 9 
$ 26 
 
 
 
Goodwill and Intangible Assets (Details 3) (USD $)
In Millions, unless otherwise specified
9 Months Ended
Nov. 2, 2013
Goodwill and Intangible Assets Disclosure [Abstract]
 
Remainder of fiscal 2014
$ 2 
2015
6 
2016
6 
2017
6 
2018
6 
Thereafter
$ 46 
Restructuring Charges (Details) (USD $)
In Millions, unless otherwise specified
9 Months Ended 12 Months Ended
Nov. 2, 2013
Nov. 3, 2012
Nov. 2, 2013
Restructuring Cost and Reserve [Line Items]
 
 
 
Restructuring charges
$ 144 
$ 251 
 
Restructuring Program 2013 Renew Blue [Member]
 
 
 
Restructuring Cost and Reserve [Line Items]
 
 
 
Restructuring charges
52 
 
 
Restructuring Program 2013 U.S. [Member]
 
 
 
Restructuring Cost and Reserve [Line Items]
 
 
 
Restructuring charges
(8)
258 
 
Restructuring Program 2012 [Member]
 
 
 
Restructuring Cost and Reserve [Line Items]
 
 
 
Restructuring charges
5 
1 
 
Restructuring Program 2011 [Member]
 
 
 
Restructuring Cost and Reserve [Line Items]
 
 
 
Restructuring charges
 
(10)
 
Restructuring Program 2013 Europe [Member]
 
 
 
Restructuring Cost and Reserve [Line Items]
 
 
 
Restructuring charges
95 
2 
 
Continuing Operations [Member]
 
 
 
Restructuring Cost and Reserve [Line Items]
 
 
 
Restructuring charges
44 
252 
 
Continuing Operations [Member] |
Restructuring Program 2013 Renew Blue [Member]
 
 
 
Restructuring Cost and Reserve [Line Items]
 
 
 
Restructuring charges
52 
0 
223 
Continuing Operations [Member] |
Restructuring Program 2013 U.S. [Member]
 
 
 
Restructuring Cost and Reserve [Line Items]
 
 
 
Restructuring charges
(8)
258 
 
Continuing Operations [Member] |
Restructuring Program 2012 [Member]
 
 
 
Restructuring Cost and Reserve [Line Items]
 
 
 
Restructuring charges
0 
6 
 
Continuing Operations [Member] |
Restructuring Program 2011 [Member]
 
 
 
Restructuring Cost and Reserve [Line Items]
 
 
 
Restructuring charges
0 
(12)
 
Discontinued Operations [Member]
 
 
 
Restructuring Cost and Reserve [Line Items]
 
 
 
Restructuring charges
100 
(1)
 
Discontinued Operations [Member] |
Restructuring Program 2012 [Member]
 
 
 
Restructuring Cost and Reserve [Line Items]
 
 
 
Restructuring charges
5 
(5)
 
Discontinued Operations [Member] |
Restructuring Program 2011 [Member]
 
 
 
Restructuring Cost and Reserve [Line Items]
 
 
 
Restructuring charges
0 
2 
 
Discontinued Operations [Member] |
Restructuring Program 2013 Europe [Member]
 
 
 
Restructuring Cost and Reserve [Line Items]
 
 
 
Restructuring charges
$ 95 
$ 2 
 
Restructuring Charges - Renew Blue (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 9 Months Ended 12 Months Ended 9 Months Ended 12 Months Ended 9 Months Ended 12 Months Ended 9 Months Ended 12 Months Ended 9 Months Ended 12 Months Ended 9 Months Ended 12 Months Ended 9 Months Ended 12 Months Ended 9 Months Ended 12 Months Ended 9 Months Ended 12 Months Ended 9 Months Ended 12 Months Ended 9 Months Ended 12 Months Ended 9 Months Ended 12 Months Ended 9 Months Ended 12 Months Ended 9 Months Ended 12 Months Ended 9 Months Ended 12 Months Ended 9 Months Ended 12 Months Ended 9 Months Ended 12 Months Ended 9 Months Ended 12 Months Ended
Nov. 2, 2013
Nov. 3, 2012
Nov. 2, 2013
Nov. 3, 2012
Nov. 2, 2013
Termination benefits [Member]
Nov. 2, 2013
Facility closure and other costs [Member]
Nov. 3, 2012
Facility closure and other costs [Member]
Nov. 2, 2013
Restructuring Program 2013 Renew Blue [Member]
Nov. 2, 2013
Restructuring Program 2013 Renew Blue [Member]
Termination benefits [Member]
Nov. 2, 2013
Restructuring Program 2013 Renew Blue [Member]
Facility closure and other costs [Member]
Nov. 2, 2013
Continuing Operations [Member]
Nov. 3, 2012
Continuing Operations [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 Renew Blue [Member]
Nov. 3, 2012
Continuing Operations [Member]
Restructuring Program 2013 Renew Blue [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 Renew Blue [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 Renew Blue [Member]
Inventory write-downs [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 Renew Blue [Member]
Inventory write-downs [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 Renew Blue [Member]
Property and equipment impairments [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 Renew Blue [Member]
Property and equipment impairments [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 Renew Blue [Member]
Termination benefits [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 Renew Blue [Member]
Termination benefits [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 Renew Blue [Member]
Investment impairments [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 Renew Blue [Member]
Investment impairments [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 Renew Blue [Member]
Facility closure and other costs [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 Renew Blue [Member]
Facility closure and other costs [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 Renew Blue [Member]
Domestic [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 Renew Blue [Member]
Domestic [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 Renew Blue [Member]
Domestic [Member]
Inventory write-downs [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 Renew Blue [Member]
Domestic [Member]
Inventory write-downs [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 Renew Blue [Member]
Domestic [Member]
Property and equipment impairments [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 Renew Blue [Member]
Domestic [Member]
Property and equipment impairments [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 Renew Blue [Member]
Domestic [Member]
Termination benefits [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 Renew Blue [Member]
Domestic [Member]
Termination benefits [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 Renew Blue [Member]
Domestic [Member]
Investment impairments [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 Renew Blue [Member]
Domestic [Member]
Investment impairments [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 Renew Blue [Member]
Domestic [Member]
Facility closure and other costs [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 Renew Blue [Member]
Domestic [Member]
Facility closure and other costs [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 Renew Blue [Member]
International [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 Renew Blue [Member]
International [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 Renew Blue [Member]
International [Member]
Inventory write-downs [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 Renew Blue [Member]
International [Member]
Inventory write-downs [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 Renew Blue [Member]
International [Member]
Property and equipment impairments [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 Renew Blue [Member]
International [Member]
Property and equipment impairments [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 Renew Blue [Member]
International [Member]
Termination benefits [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 Renew Blue [Member]
International [Member]
Termination benefits [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 Renew Blue [Member]
International [Member]
Investment impairments [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 Renew Blue [Member]
International [Member]
Investment impairments [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 Renew Blue [Member]
International [Member]
Facility closure and other costs [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 Renew Blue [Member]
International [Member]
Facility closure and other costs [Member]
Restructuring Cost and Reserve [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Restructuring charges
 
 
$ 144 
$ 251 
 
 
 
$ 52 
 
 
$ 44 
$ 252 
$ 52 
$ 0 
$ 223 
$ 0 
$ 1 
$ 4 
$ 34 
$ 26 
$ 81 
$ 16 
$ 43 
$ 6 
$ 64 
$ 34 
$ 118 
$ 0 
$ 1 
$ 2 
$ 9 
$ 16 
$ 62 
$ 16 
$ 43 
$ 0 
$ 3 
$ 18 
$ 105 
$ 0 
$ 0 
$ 2 
$ 25 
$ 10 
$ 19 
$ 0 
$ 0 
$ 6 
$ 61 
Restructuring Reserve [Roll Forward]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Restructuring reserve, balance at the beginning of the period
 
 
 
 
 
 
 
108 
54 
54 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Charges
31 
34 
44 
252 
 
 
 
39 
25 
14 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash payments
 
 
 
 
 
 
 
(81)
(65)
(16)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Adjustments
 
 
 
 
(34)1
0 
34 
1 
(7)
8 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Changes in foreign currency exchange rates
 
 
 
 
 
 
 
0 
1 
(1)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Restructuring reserve, balance at the end of the period
 
 
 
 
 
 
 
$ 67 
$ 8 
$ 59 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Restructuring Charges - Fiscal 2013 Europe (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 9 Months Ended 8 Months Ended 9 Months Ended 15 Months Ended 9 Months Ended 15 Months Ended 9 Months Ended 15 Months Ended 9 Months Ended 15 Months Ended 9 Months Ended 15 Months Ended 9 Months Ended 15 Months Ended
Nov. 2, 2013
Nov. 3, 2012
Nov. 2, 2013
Nov. 3, 2012
Nov. 2, 2013
Termination benefits [Member]
Nov. 2, 2013
Facility closure and other costs [Member]
Nov. 3, 2012
Facility closure and other costs [Member]
Nov. 2, 2013
Restructuring Program 2013 Europe [Member]
Nov. 3, 2012
Restructuring Program 2013 Europe [Member]
Nov. 3, 2012
Restructuring Program 2013 Europe [Member]
Termination benefits [Member]
Nov. 2, 2013
Restructuring Program 2013 Europe [Member]
Termination benefits [Member]
Nov. 2, 2013
Restructuring Program 2013 Europe [Member]
Facility closure and other costs [Member]
Nov. 2, 2013
Discontinued Operations [Member]
Nov. 3, 2012
Discontinued Operations [Member]
Nov. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2013 Europe [Member]
Nov. 3, 2012
Discontinued Operations [Member]
Restructuring Program 2013 Europe [Member]
Nov. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2013 Europe [Member]
International [Member]
Nov. 3, 2012
Discontinued Operations [Member]
Restructuring Program 2013 Europe [Member]
International [Member]
Nov. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2013 Europe [Member]
International [Member]
Nov. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2013 Europe [Member]
International [Member]
Inventory write-downs [Member]
Nov. 3, 2012
Discontinued Operations [Member]
Restructuring Program 2013 Europe [Member]
International [Member]
Inventory write-downs [Member]
Nov. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2013 Europe [Member]
International [Member]
Inventory write-downs [Member]
Nov. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2013 Europe [Member]
International [Member]
Property and equipment impairments [Member]
Nov. 3, 2012
Discontinued Operations [Member]
Restructuring Program 2013 Europe [Member]
International [Member]
Property and equipment impairments [Member]
Nov. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2013 Europe [Member]
International [Member]
Property and equipment impairments [Member]
Nov. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2013 Europe [Member]
International [Member]
Termination benefits [Member]
Nov. 3, 2012
Discontinued Operations [Member]
Restructuring Program 2013 Europe [Member]
International [Member]
Termination benefits [Member]
Nov. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2013 Europe [Member]
International [Member]
Termination benefits [Member]
Nov. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2013 Europe [Member]
International [Member]
Tradename impairment [Member]
Nov. 3, 2012
Discontinued Operations [Member]
Restructuring Program 2013 Europe [Member]
International [Member]
Tradename impairment [Member]
Nov. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2013 Europe [Member]
International [Member]
Tradename impairment [Member]
Nov. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2013 Europe [Member]
International [Member]
Facility closure and other costs [Member]
Nov. 3, 2012
Discontinued Operations [Member]
Restructuring Program 2013 Europe [Member]
International [Member]
Facility closure and other costs [Member]
Nov. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2013 Europe [Member]
International [Member]
Facility closure and other costs [Member]
Restructuring Cost and Reserve [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Restructuring charges
 
 
$ 144 
$ 251 
 
 
 
$ 95 
$ 2 
 
 
 
$ 100 
$ (1)
$ 95 
$ 2 
$ 95 
$ 2 
$ 131 
$ 7 
$ 0 
$ 7 
$ 45 
$ 0 
$ 57 
$ 36 
$ 2 
$ 55 
$ 4 
$ 0 
$ 4 
$ 3 
$ 0 
$ 8 
Restructuring Reserve [Roll Forward]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Restructuring reserve, balance at the beginning of the period
 
 
 
 
 
 
 
5 
 
0 
0 
5 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Charges
31 
34 
44 
252 
 
 
 
38 
 
2 
36 
2 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash payments
 
 
 
 
 
 
 
(9)
 
(2)
(2)
(7)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Adjustments
 
 
 
 
(34)1
0 
34 
(34)1
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Restructuring reserve, balance at the end of the period
 
 
 
 
 
 
 
$ 0 
 
$ 0 
$ 0 
$ 0 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Restructuring Charges - Fiscal 2013 U.S. (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 9 Months Ended 3 Months Ended 8 Months Ended 9 Months Ended 8 Months Ended 9 Months Ended 8 Months Ended 9 Months Ended 21 Months Ended 9 Months Ended 21 Months Ended 9 Months Ended 21 Months Ended 9 Months Ended 21 Months Ended
Nov. 2, 2013
Nov. 3, 2012
Nov. 2, 2013
Nov. 3, 2012
Nov. 2, 2013
Termination benefits [Member]
Nov. 2, 2013
Facility closure and other costs [Member]
Nov. 3, 2012
Facility closure and other costs [Member]
May 5, 2012
Restructuring Charges 2013 [Member]
Domestic [Member]
store
Nov. 3, 2012
Restructuring Program 2013 U.S. [Member]
Nov. 2, 2013
Restructuring Program 2013 U.S. [Member]
Nov. 3, 2012
Restructuring Program 2013 U.S. [Member]
Nov. 3, 2012
Restructuring Program 2013 U.S. [Member]
Termination benefits [Member]
Nov. 2, 2013
Restructuring Program 2013 U.S. [Member]
Termination benefits [Member]
Nov. 3, 2012
Restructuring Program 2013 U.S. [Member]
Facility closure and other costs [Member]
Nov. 2, 2013
Restructuring Program 2013 U.S. [Member]
Facility closure and other costs [Member]
Nov. 2, 2013
Continuing Operations [Member]
Nov. 3, 2012
Continuing Operations [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 U.S. [Member]
Nov. 3, 2012
Continuing Operations [Member]
Restructuring Program 2013 U.S. [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 U.S. [Member]
Domestic [Member]
Nov. 3, 2012
Continuing Operations [Member]
Restructuring Program 2013 U.S. [Member]
Domestic [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 U.S. [Member]
Domestic [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 U.S. [Member]
Domestic [Member]
Property and equipment impairments [Member]
Nov. 3, 2012
Continuing Operations [Member]
Restructuring Program 2013 U.S. [Member]
Domestic [Member]
Property and equipment impairments [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 U.S. [Member]
Domestic [Member]
Property and equipment impairments [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 U.S. [Member]
Domestic [Member]
Termination benefits [Member]
Nov. 3, 2012
Continuing Operations [Member]
Restructuring Program 2013 U.S. [Member]
Domestic [Member]
Termination benefits [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 U.S. [Member]
Domestic [Member]
Termination benefits [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 U.S. [Member]
Domestic [Member]
Facility closure and other costs [Member]
Nov. 3, 2012
Continuing Operations [Member]
Restructuring Program 2013 U.S. [Member]
Domestic [Member]
Facility closure and other costs [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2013 U.S. [Member]
Domestic [Member]
Facility closure and other costs [Member]
Restructuring Cost and Reserve [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Number of stores to be closed
 
 
 
 
 
 
 
49 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Restructuring charges
 
 
$ 144 
$ 251 
 
 
 
 
 
$ (8)
$ 258 
 
 
 
 
$ 44 
$ 252 
$ (8)
$ 258 
$ (8)
$ 258 
$ 249 
$ 0 
$ 28 
$ 29 
$ 0 
$ 83 
$ 77 
$ (8)
$ 147 
$ 143 
Restructuring Reserve [Roll Forward]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Restructuring reserve, balance at the beginning of the period
 
 
 
 
 
 
 
 
0 
117 
 
0 
4 
0 
113 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Charges
31 
34 
44 
252 
 
 
 
 
254 
3 
 
109 
0 
145 
3 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash payments
 
 
 
 
 
 
 
 
(83)
(41)
 
(65)
(2)
(18)
(39)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Adjustments
 
 
 
 
(34)1
0 
34 
 
(34)
(15)
 
(31)
(2)
(3)
(13)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Restructuring reserve, balance at the end of the period
 
 
 
 
 
 
 
 
$ 137 
$ 64 
$ 137 
$ 13 
$ 0 
$ 124 
$ 64 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Restructuring Charges - Fiscal 2012 (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 9 Months Ended 32 Months Ended 9 Months Ended 9 Months Ended 9 Months Ended 32 Months Ended 9 Months Ended 32 Months Ended 9 Months Ended 32 Months Ended 9 Months Ended 32 Months Ended 9 Months Ended 32 Months Ended 9 Months Ended 32 Months Ended 9 Months Ended 32 Months Ended 9 Months Ended 32 Months Ended 9 Months Ended 32 Months Ended 9 Months Ended 32 Months Ended 9 Months Ended 32 Months Ended 9 Months Ended 32 Months Ended 9 Months Ended 32 Months Ended 9 Months Ended 32 Months Ended 9 Months Ended 32 Months Ended 9 Months Ended 32 Months Ended 9 Months Ended 32 Months Ended 9 Months Ended 32 Months Ended 9 Months Ended 32 Months Ended 9 Months Ended 32 Months Ended 9 Months Ended 32 Months Ended 9 Months Ended 32 Months Ended 9 Months Ended 32 Months Ended 9 Months Ended 32 Months Ended 9 Months Ended 32 Months Ended 9 Months Ended 32 Months Ended 9 Months Ended 32 Months Ended 9 Months Ended 32 Months Ended 9 Months Ended 32 Months Ended
Nov. 2, 2013
Nov. 3, 2012
Nov. 2, 2013
Nov. 3, 2012
Nov. 2, 2013
Termination benefits [Member]
Nov. 2, 2013
Facility closure and other costs [Member]
Nov. 3, 2012
Facility closure and other costs [Member]
Nov. 2, 2013
Restructuring Program 2012 [Member]
Nov. 3, 2012
Restructuring Program 2012 [Member]
Nov. 2, 2013
Restructuring Program 2012 [Member]
Mar. 3, 2012
Restructuring Program 2012 [Member]
Nov. 3, 2012
Restructuring Program 2012 [Member]
Termination benefits [Member]
Mar. 3, 2012
Restructuring Program 2012 [Member]
Termination benefits [Member]
Nov. 2, 2013
Restructuring Program 2012 [Member]
Facility closure and other costs [Member]
Nov. 3, 2012
Restructuring Program 2012 [Member]
Facility closure and other costs [Member]
Mar. 3, 2012
Restructuring Program 2012 [Member]
Facility closure and other costs [Member]
Nov. 2, 2013
Restructuring Program 2012 [Member]
Domestic [Member]
Nov. 3, 2012
Restructuring Program 2012 [Member]
Domestic [Member]
Nov. 2, 2013
Restructuring Program 2012 [Member]
Domestic [Member]
Nov. 2, 2013
Restructuring Program 2012 [Member]
International [Member]
Nov. 3, 2012
Restructuring Program 2012 [Member]
International [Member]
Nov. 2, 2013
Restructuring Program 2012 [Member]
International [Member]
Nov. 2, 2013
Continuing Operations [Member]
Nov. 3, 2012
Continuing Operations [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Nov. 3, 2012
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Property and equipment impairments [Member]
Nov. 3, 2012
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Property and equipment impairments [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Property and equipment impairments [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Termination benefits [Member]
Nov. 3, 2012
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Termination benefits [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Termination benefits [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Facility closure and other costs [Member]
Nov. 3, 2012
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Facility closure and other costs [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Facility closure and other costs [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Domestic [Member]
Nov. 3, 2012
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Domestic [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Domestic [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Domestic [Member]
Property and equipment impairments [Member]
Nov. 3, 2012
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Domestic [Member]
Property and equipment impairments [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Domestic [Member]
Property and equipment impairments [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Domestic [Member]
Termination benefits [Member]
Nov. 3, 2012
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Domestic [Member]
Termination benefits [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Domestic [Member]
Termination benefits [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Domestic [Member]
Facility closure and other costs [Member]
Nov. 3, 2012
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Domestic [Member]
Facility closure and other costs [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2012 [Member]
Domestic [Member]
Facility closure and other costs [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Nov. 3, 2012
Continuing Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Property and equipment impairments [Member]
Nov. 3, 2012
Continuing Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Property and equipment impairments [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Property and equipment impairments [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Termination benefits [Member]
Nov. 3, 2012
Continuing Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Termination benefits [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Termination benefits [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Facility closure and other costs [Member]
Nov. 3, 2012
Continuing Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Facility closure and other costs [Member]
Nov. 2, 2013
Continuing Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Facility closure and other costs [Member]
Nov. 2, 2013
Discontinued Operations [Member]
Nov. 3, 2012
Discontinued Operations [Member]
Nov. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Nov. 3, 2012
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Nov. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Nov. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Property and equipment impairments [Member]
Nov. 3, 2012
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Property and equipment impairments [Member]
Nov. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Property and equipment impairments [Member]
Nov. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Termination benefits [Member]
Nov. 3, 2012
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Termination benefits [Member]
Nov. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Termination benefits [Member]
Nov. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Facility closure and other costs [Member]
Nov. 3, 2012
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Facility closure and other costs [Member]
Nov. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Facility closure and other costs [Member]
Nov. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Inventory write-downs [Member]
Nov. 3, 2012
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Inventory write-downs [Member]
Nov. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Inventory write-downs [Member]
Nov. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Domestic [Member]
Nov. 3, 2012
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Domestic [Member]
Nov. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Domestic [Member]
Nov. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Domestic [Member]
Property and equipment impairments [Member]
Nov. 3, 2012
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Domestic [Member]
Property and equipment impairments [Member]
Nov. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Domestic [Member]
Property and equipment impairments [Member]
Nov. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Domestic [Member]
Termination benefits [Member]
Nov. 3, 2012
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Domestic [Member]
Termination benefits [Member]
Nov. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Domestic [Member]
Termination benefits [Member]
Nov. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Domestic [Member]
Facility closure and other costs [Member]
Nov. 3, 2012
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Domestic [Member]
Facility closure and other costs [Member]
Nov. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Domestic [Member]
Facility closure and other costs [Member]
Nov. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Domestic [Member]
Inventory write-downs [Member]
Nov. 3, 2012
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Domestic [Member]
Inventory write-downs [Member]
Nov. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
Domestic [Member]
Inventory write-downs [Member]
Nov. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Nov. 3, 2012
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Nov. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Nov. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Property and equipment impairments [Member]
Nov. 3, 2012
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Property and equipment impairments [Member]
Nov. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Property and equipment impairments [Member]
Nov. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Termination benefits [Member]
Nov. 3, 2012
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Termination benefits [Member]
Nov. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Termination benefits [Member]
Nov. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Facility closure and other costs [Member]
Nov. 3, 2012
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Facility closure and other costs [Member]
Nov. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Facility closure and other costs [Member]
Nov. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Inventory write-downs [Member]
Nov. 3, 2012
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Inventory write-downs [Member]
Nov. 2, 2013
Discontinued Operations [Member]
Restructuring Program 2012 [Member]
International [Member]
Inventory write-downs [Member]
Restructuring Cost and Reserve [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cumulative amount
 
 
 
 
 
 
 
 
 
$ 246 
 
 
 
 
 
 
$ 0 
$ 6 
$ 23 
 
 
$ 223 
 
 
 
 
$ 38 
 
 
$ 32 
 
 
$ 1 
 
 
$ 5 
$ 0 
$ 6 
$ 23 
$ 0 
$ 1 
$ 17 
$ 0 
$ 0 
$ 1 
$ 0 
$ 5 
$ 5 
 
 
$ 15 
 
 
$ 15 
 
 
$ 0 
 
 
$ 0 
 
 
 
 
$ 208 
 
 
$ 96 
 
 
$ 17 
 
 
$ 84 
 
 
$ 11 
$ 0 
$ 0 
$ 0 
$ 0 
$ 0 
$ 0 
$ 0 
$ 0 
$ 0 
$ 0 
$ 0 
$ 0 
$ 0 
$ 0 
$ 0 
 
 
$ 208 
 
 
$ 96 
 
 
$ 17 
 
 
$ 84 
 
 
$ 11 
Restructuring charges
 
 
144 
251 
 
 
 
5 
1 
 
 
 
 
 
 
 
 
 
 
5 
(5)
 
44 
252 
0 
6 
 
0 
1 
 
0 
0 
 
0 
5 
 
 
 
 
 
 
 
 
 
 
 
 
 
0 
0 
 
0 
0 
 
0 
0 
 
0 
0 
 
100 
(1)
5 
(5)
 
0 
0 
 
0 
1 
 
5 
(6)
 
0 
0 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5 
(5)
 
0 
0 
 
0 
1 
 
5 
(6)
 
0 
0 
 
Restructuring reserve, accrual adjustment, write-off remaining liability
 
 
 
 
 
 
 
 
 
 
 
 
 
(6)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Restructuring Reserve [Roll Forward]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Restructuring reserve, balance at the beginning of the period
 
 
 
 
 
 
 
 
 
 
102 
 
17 
36 
 
85 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Charges
31 
34 
44 
252 
 
 
 
 
3 
 
 
1 
 
 
2 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash payments
 
 
 
 
 
 
 
 
(98)
 
 
(17)
 
(33)
(81)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Adjustments
 
 
 
 
(34)1
0 
34 
 
25 2
 
 
0 
 
(1)3
25 2
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Changes in foreign currency exchange rates
 
 
 
 
 
 
 
 
3 
 
 
0 
 
(2)
3 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Restructuring reserve, balance at the end of the period
 
 
 
 
 
 
 
 
$ 35 
 
$ 102 
$ 1 
$ 17 
$ 0 
$ 34 
$ 85 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Restructuring Charges - Fiscal 2011 (Details) (USD $)
In Millions, unless otherwise specified
9 Months Ended
Nov. 2, 2013
Nov. 3, 2012
Restructuring Cost and Reserve [Line Items]
 
 
Restructuring charges
$ 144 
$ 251 
Restructuring Program 2011 [Member]
 
 
Restructuring Cost and Reserve [Line Items]
 
 
Restructuring charges
 
$ (10)
Debt (Details) (USD $)
In Millions, unless otherwise specified
Nov. 2, 2013
Feb. 2, 2013
Nov. 3, 2012
Short-term Debt
 
 
 
Short-term debt
$ 0 
$ 596 
$ 310 
New U.S. Revolving Credit Facility - 364-Day [Member] [Domain]
 
 
 
Short-term Debt
 
 
 
Short-term debt
0 
 
 
U.S. Revolving Credit facility - 364-Day [Member]
 
 
 
Short-term Debt
 
 
 
Short-term debt
 
0 
0 
U.S. Revolving Credit Facility - 5-Year [Member]
 
 
 
Short-term Debt
 
 
 
Short-term debt
0 
0 
0 
Europe Revolving Credit Facility [Member]
 
 
 
Short-term Debt
 
 
 
Short-term debt
0 
596 1
310 1
Canada Revolving Demand Facility [Member]
 
 
 
Short-term Debt
 
 
 
Short-term debt
0 
0 
0 
China Revolving Demand Facilities [Member]
 
 
 
Short-term Debt
 
 
 
Short-term debt
$ 0 
$ 0 
$ 0 
Debt (Details 2) (USD $)
In Millions, unless otherwise specified
Nov. 2, 2013
Jul. 15, 2013
Feb. 2, 2013
Nov. 3, 2012
Long-term Debt.
 
 
 
 
Total long-term debt
$ 1,669 
 
$ 1,700 
$ 1,702 
Less: current portion
(45)
 
(547)1
(544)1
Total long-term debt, less current portion
1,624 
 
1,153 
1,158 
2013 Notes [Member]
 
 
 
 
Long-term Debt.
 
 
 
 
Total long-term debt
0 
500 
500 
500 
2016 Notes [Member]
 
 
 
 
Long-term Debt.
 
 
 
 
Total long-term debt
349 
 
349 
349 
2018 Notes [Member]
 
 
 
 
Long-term Debt.
 
 
 
 
Total long-term debt
500 
 
0 
0 
2021 Notes [Member]
 
 
 
 
Long-term Debt.
 
 
 
 
Total long-term debt
649 
 
648 
648 
Financing Lease Obligations [Member]
 
 
 
 
Long-term Debt.
 
 
 
 
Total long-term debt
103 
 
122 
130 
Capital Lease Obligations [Member]
 
 
 
 
Long-term Debt.
 
 
 
 
Total long-term debt
67 
 
80 
74 
Other Debt [Member]
 
 
 
 
Long-term Debt.
 
 
 
 
Total long-term debt
$ 1 
 
$ 1 
$ 1 
Debt (Details 3) (USD $)
In Millions, unless otherwise specified
1 Months Ended
Nov. 2, 2013
Feb. 2, 2013
Nov. 3, 2012
Nov. 2, 2013
2013 Notes [Member]
Jul. 15, 2013
2013 Notes [Member]
Feb. 2, 2013
2013 Notes [Member]
Nov. 3, 2012
2013 Notes [Member]
Jul. 31, 2013
2018 Notes [Member]
Nov. 2, 2013
2018 Notes [Member]
Jul. 16, 2013
2018 Notes [Member]
Feb. 2, 2013
2018 Notes [Member]
Nov. 3, 2012
2018 Notes [Member]
Jun. 25, 2013
New U.S. Revolving Credit Facility - 364-Day [Member] [Domain]
Jun. 25, 2013
U.S. Revolving Credit facility - 364-Day [Member]
Debt Instrument [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current borrowing capacity
 
 
 
 
 
 
 
 
 
 
 
 
$ 500 
$ 1,000 
Basis spread on federal funds rate
 
 
 
 
 
 
 
 
 
 
 
 
0.50% 
 
Basis spread on one-month LIBOR
 
 
 
 
 
 
 
 
 
 
 
 
1.00% 
 
ABR margin, lower range
 
 
 
 
 
 
 
 
 
 
 
 
0.00% 
 
ABR margin, higher range
 
 
 
 
 
 
 
 
 
 
 
 
0.60% 
 
LIBOR margin, lower range
 
 
 
 
 
 
 
 
 
 
 
 
0.925% 
 
LIBOR margin, higher range
 
 
 
 
 
 
 
 
 
 
 
 
1.60% 
 
Facility fee, lower range
 
 
 
 
 
 
 
 
 
 
 
 
0.075% 
 
Facility fee, higher range
 
 
 
 
 
 
 
 
 
 
 
 
0.275% 
 
Principal amount of notes retired
1,669 
1,700 
1,702 
0 
500 
500 
500 
 
500 
 
0 
0 
 
 
Debt instrument, face amount
 
 
 
 
 
 
 
 
 
500 
 
 
 
 
Fixed interest rate
 
 
 
 
 
 
 
 
 
5.00% 
 
 
 
 
Net proceeds from sale of notes
 
 
 
 
 
 
 
495 
 
 
 
 
 
 
Underwriting and issue discount
 
 
 
 
 
 
 
5 
 
 
 
 
 
 
Redemption price as percentage of principal amount
 
 
 
 
 
 
 
 
 
100.00% 
 
 
 
 
Treasury rate basis points
 
 
 
 
 
 
 
 
 
0.50 
 
 
 
 
Fair value of long-term debt
$ 1,717 
$ 1,652 
$ 1,635 
 
 
 
 
 
 
 
 
 
 
 
Derivative Instruments (Details)
In Millions, unless otherwise specified
3 Months Ended 9 Months Ended 3 Months Ended 9 Months Ended 3 Months Ended 9 Months Ended
Nov. 2, 2013
Nov. 2, 2013
GBP (£)
Nov. 2, 2013
Operating Expense [Member]
Segment, Continuing Operations [Member]
USD ($)
Nov. 2, 2013
Operating Expense [Member]
Segment, Continuing Operations [Member]
USD ($)
Nov. 2, 2013
Operating Expense [Member]
Segment, Discontinued Operations [Member]
USD ($)
Nov. 2, 2013
Operating Expense [Member]
Segment, Discontinued Operations [Member]
USD ($)
Nov. 2, 2013
Not Designated as Hedging Instrument [Member]
USD ($)
Feb. 2, 2013
Not Designated as Hedging Instrument [Member]
USD ($)
Nov. 3, 2012
Not Designated as Hedging Instrument [Member]
USD ($)
Nov. 2, 2013
Not Designated as Hedging Instrument [Member]
Segment, Continuing Operations [Member]
USD ($)
Nov. 2, 2013
Not Designated as Hedging Instrument [Member]
Segment, Discontinued Operations [Member]
GBP (£)
Derivatives, Fair Value [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Contract term
12 months 
 
 
 
 
 
 
 
 
 
 
Notional Amount
 
 
 
 
 
 
$ 138 
$ 173 
$ 323 
$ 138 
£ 455 
Gain (loss) on foreign currency derivative instruments not designated as hedging instruments
 
 
(3)
3 
0 
(2)
 
 
 
 
 
Proceeds from divestiture of businesses
 
£ 471 
 
 
 
 
 
 
 
 
 
Earnings per Share (Details) (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Nov. 2, 2013
Nov. 3, 2012
Nov. 2, 2013
Nov. 3, 2012
Numerator
 
 
 
 
Net earnings (loss) from continuing operations
$ 44 
$ (9)
$ 378 
$ 191 
Net earnings from continuing operations attributable to noncontrolling interests
(1)
0 
(1)
0 
Net earnings (loss) from continuing operations attributable to Best Buy Co., Inc.
$ 43 
$ (9)
$ 377 
$ 191 
Denominator
 
 
 
 
Weighted-average common shares outstanding (in shares)
342.8 
337.2 
340.7 
339.3 
Effect of potentially dilutive securities:
 
 
 
 
Nonvested share awards (in shares)
6.1 
0 
4.6 
1.1 
Weighted-average common shares outstanding, assuming dilution (in shares)
348.9 
337.2 
345.3 
340.4 
Net earnings (loss) per share from continuing operations attributable to Best Buy Co., Inc.
 
 
 
 
Basic (in dollars per share)
$ 0.13 
$ (0.03)
$ 1.11 
$ 0.56 
Diluted (in dollars per share)
$ 0.12 
$ (0.03)
$ 1.09 
$ 0.56 
Antidilutive securities excluded from computation of earnings per share
12.6 
 
16.4 
28.6 
Comprehensive Income (Details) (USD $)
In Millions, unless otherwise specified
1 Months Ended 3 Months Ended 9 Months Ended
Mar. 3, 2012
Nov. 2, 2013
Nov. 3, 2012
Nov. 2, 2013
Nov. 3, 2012
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
 
 
 
 
 
Foreign Currency Translation, Beginning Balance
$ 77 
$ 528 
$ 87 
$ 113 
$ 77 
Available-For-Sale Investments, Beginning Balance
(3)
1 
(1)
(1)
(3)
Total, Beginning Balance
74 
529 
86 
112 
74 
Foreign currency translation adjustments
 
 
 
(106)
 
Reclassification of foreign currency translation adjustments into earnings
 
0 
0 
654 
0 
Unrealized gains on available-for-sale investments
0 
1 
0 
1 
3 
Reclassification of losses on available-for-sale investments into earnings
 
0 
0 
2 
0 
Adjustment for fiscal year change
(16)
 
 
 
 
Foreign Currency Translation, Ending Balance
93 
526 
105 
526 
105 
Available-For-Sale Investments, Ending Balance
(3)
2 
0 
2 
0 
Total, Ending Balance
90 
528 
105 
528 
105 
Best Buy Co., Inc. [Member]
 
 
 
 
 
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]
 
 
 
 
 
Foreign currency translation adjustments
 
(2)
18 
(95)
28 
Reclassification of foreign currency translation adjustments into earnings
 
 
 
508 
 
Unrealized gains on available-for-sale investments
 
1 
1 
2 
3 
Reclassification of losses on available-for-sale investments into earnings
 
 
 
$ 1 
 
Repurchase of Common Stock (Details) (USD $)
Share data in Millions, unless otherwise specified
1 Months Ended 9 Months Ended
Jun. 30, 2011
Nov. 2, 2013
Nov. 3, 2012
Repurchase of Common Stock [Abstract]
 
 
 
Share repurchase program, authorized amount
$ 5,000,000,000 
 
 
Stock repurchased and retired during period, shares
 
 
10.9 
Stock repurchased and retired during period, value
 
 
237,000,000 
Amount remained available for future repurchases
 
$ 4,000,000,000 
 
Segments (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 9 Months Ended
Nov. 2, 2013
Nov. 3, 2012
Nov. 2, 2013
segments
Nov. 3, 2012
Feb. 2, 2013
Business segment information
 
 
 
 
 
Number of reportable segments
 
 
2 
 
 
Total revenue
$ 9,362 
$ 9,381 
$ 28,042 
$ 29,093 
 
Operating income (loss)
91 
2 
672 
354 
 
Other income (expense)
 
 
 
 
 
Gain on sale of investments
4 
0 
18 
0 
 
Investment income and other
8 
10 
18 
15 
 
Interest expense
(24)
(27)
(77)
(81)
 
Earnings (loss) from continuing operations before income tax expense (benefit)
79 
(15)
631 
288 
 
Total assets
15,068 
17,556 
15,068 
17,556 
16,787 
Domestic [Member]
 
 
 
 
 
Business segment information
 
 
 
 
 
Total revenue
7,847 
7,673 
23,635 
24,298 
 
Operating income (loss)
111 
16 
753 
394 
 
Other income (expense)
 
 
 
 
 
Total assets
11,971 
11,291 
11,971 
11,291 
10,874 
International [Member]
 
 
 
 
 
Business segment information
 
 
 
 
 
Total revenue
1,515 
1,708 
4,407 
4,795 
 
Operating income (loss)
(20)
(14)
(81)
(40)
 
Other income (expense)
 
 
 
 
 
Total assets
$ 3,097 
$ 6,265 
$ 3,097 
$ 6,265 
$ 5,913 
Contingencies Contingencies (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 9 Months Ended 1 Months Ended
Aug. 3, 2013
Nov. 2, 2013
Sep. 3, 2013
Dec. 31, 2012
Pending Litigation [Member]
Nov. 30, 2012
Pending Litigation [Member]
Loss Contingencies [Line Items]
 
 
 
 
 
Loss contingency, settlement agreement consideration, plaintiff amount
 
 
 
$ 5 
$ 22 
Loss contingency, settlement agreement consideration, attorneys amount
 
 
 
6 
 
Litigation settlement, amount
264 
 
 
 
 
Legal Fees
35 
 
 
 
 
Proceeds from legal settlements
 
137 
 
 
 
Future proceeds from legal settlements
 
127 
 
 
 
Damages, value
 
 
$ 7.5