Attached files
| file | filename |
|---|---|
| EX-99.1 - EX-99.1 - BEST BUY CO INC | exhibit9918212012.htm |
| 8-K - 8-K - BEST BUY CO INC | bby8-k8212012.htm |
Exhibit 99.2
BEST BUY CO., INC. | |||||||||||||||
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||||||||||||
Financials Recast for New Fiscal Year | |||||||||||||||
($ in millions) | |||||||||||||||
(Unaudited and subject to reclassification) | |||||||||||||||
Fiscal Year 2011 | Fiscal Year 2012 | ||||||||||||||
Twelve Months Ended | Three Months Ended | Six Months Ended | Nine Months Ended | Twelve Months Ended | |||||||||||
1/29/2011 | 4/30/2011 | 7/30/2011 | 10/29/2011 | 1/28/2012 | |||||||||||
OPERATING ACTIVITIES | |||||||||||||||
Net earnings (loss) including noncontrolling interests | $ | 1,374 | $ | 239 | $ | 350 | $ | 524 | $ | (69 | ) | ||||
Adjustments to reconcile net earnings to total cash provided by operating activities: | |||||||||||||||
Depreciation and amortization of definite-lived intangible assets | 982 | 237 | 478 | 708 | 932 | ||||||||||
Goodwill impairment | — | — | — | — | 1,207 | ||||||||||
Realized gain on sale of investments | — | — | — | — | (55 | ) | |||||||||
Other operating activities, net | 60 | (114 | ) | (293 | ) | (199 | ) | 434 | |||||||
Changes in certain operating assets and liabilities, net of acquired assets and liabilities: | |||||||||||||||
Receivables | (327 | ) | 616 | 476 | 322 | (256 | ) | ||||||||
Merchandise inventories | (873 | ) | 926 | 659 | (393 | ) | 524 | ||||||||
Accounts payable | — | (561 | ) | (501 | ) | 938 | 353 | ||||||||
Total cash provided by operating activities | 1,216 | 1,343 | 1,169 | 1,900 | 3,070 | ||||||||||
INVESTING ACTIVITIES | |||||||||||||||
Additions to property and equipment | (706 | ) | (172 | ) | (377 | ) | (580 | ) | (747 | ) | |||||
Other, net | 163 | 29 | (65 | ) | 25 | 82 | |||||||||
Total cash used in investing activities | (543 | ) | (143 | ) | (442 | ) | (555 | ) | (665 | ) | |||||
FINANCING ACTIVITIES | |||||||||||||||
Repurchase of common stock | (1,193 | ) | (260 | ) | (737 | ) | (1,056 | ) | (1,368 | ) | |||||
Borrowings (repayments) of debt, net | (99 | ) | 461 | 809 | 581 | 513 | |||||||||
Payment to noncontrolling interest | — | — | — | — | (1,303 | ) | |||||||||
Other, net | (62 | ) | 36 | (76 | ) | (136 | ) | (191 | ) | ||||||
Total cash (used in) provided by financing activities | (1,354 | ) | 237 | (4 | ) | (611 | ) | (2,349 | ) | ||||||
EFFECT OF EXCHANGE RATE CHANGES ON CASH | 24 | 18 | 18 | 1 | 7 | ||||||||||
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | (657 | ) | 1,455 | 741 | 735 | 63 | |||||||||
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 1,995 | 1,338 | 1,338 | 1,338 | 1,338 | ||||||||||
CASH AND CASH EQUIVALENTS AT END OF PERIOD | $ | 1,338 | $ | 2,793 | $ | 2,079 | $ | 2,073 | $ | 1,401 | |||||
Total cash provided by operating activities | $ | 1,216 | $ | 1,343 | $ | 1,169 | $ | 1,900 | $ | 3,070 | |||||
Additions to property and equipment | (706 | ) | (172 | ) | (377 | ) | (580 | ) | (747 | ) | |||||
Free cash flow | $ | 510 | $ | 1,171 | $ | 792 | $ | 1,320 | $ | 2,323 | |||||