Best Buy 2006 Annual Report Download - page 39

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25
PART II
Item 6. Selected Financial Data.
The following table presents our selectedfinancial data. The table should be read in conjunction with Item 7, Management’s
Discussion and Analysisof Financial Condition and Results of Operations, and Item 8, Financial Statements and
Supplementary Data, of this Annual Report on Form 10-K. Certain prior-year amounts have been reclassified to conform to
the current-yearpresentation. In fiscal 2004, we sold our interest in Musicland. All fiscal years presented reflect the
classification of Musicland’s financial results as discontinued operations.
Five-Year Financial Highlights
$ in millions, except per share amounts
Fiscal Year 2006(1)2005(2)2004 2003 2002(3)
CCoonnssoolliiddaatteeddSSttaatteemmeennttssooffEEaarrnniinnggssDDaattaa
Revenue $30,848 $27,433 $24,548 $20,943 $ 1 7,711
Operating income 1,644 1,442 1,304 1,010 908
Earnings fromcontinuingoperations 1,140 934 800 622 570
Loss from discontinued operations, net of tax— — (29 ) (441 ) —
Gain (loss) on disposal of discontinued operations,
net of tax — 50(66 ) — —
Cumulative effect of change in accounting principles,
net of tax(4) — — — (82 ) —
Net earnings 1,140 984 705 99 570
PPeerrSShhaarreeDDaattaa((55))
Continuing operations $2.27 $ 1.86 $ 1.61 $ 1.27 $ 1.18
Discontinued operations — — (0.06 ) (0.89 ) —
Gain (loss) on disposal of discontinued operations — 0.10 (0.13 ) — —
Cumulative effect of accounting changes — — — (0.16 ) —
Net earnings 2.27 1.96 1.42 0.20 1.18
Cash dividends declared and paid0.310.280.27 — —
Common stockprice:
High 56.00 41.47 41.80 35.83 34.31
Low 31.93 29.25 17.03 11.33 14.95
OOppeerraattiinnggSSttaattiissttiiccss
Comparable store sales gain(6)4.9% 4.3% 7.1 % 2.4 % 1.9%
Gross profit rate 25.0% 23.7% 23.9 % 23.6 % 20.0%
Selling, general and administrative expense rate 19.7% 18.4% 18.6 % 18.8 % 14.9%
Operating income rate 5.3% 5.3% 5.3 % 4.8 % 5.1%
YYeeaarr--EEnnddDDaattaa
Current ratio(7) 1.3 1.4 1.3 1.3 1.2
Total assets(7) $ 1 1,864 $ 10,294 $ 8,652 $7,694 $7,367
Long-term debt, including current portion(7) 596 600 850 834 820
Totalshareholders’equity 5,257 4,449 3,422 2,730 2,521
Number of stores
U.S. Best Buystores(8) 742 668 608 548 481
Magnolia Audio Video stores 20 20 22 19 13
International stores(8) 162 144 127 112 95
Total retailsquare footage (000s)
U.S. Best Buystores(8) 30,610 28,260 26,421 24,243 21,599
Magnolia Audio Video stores 194 194 218 189 133
International stores(8) 3,555 3,139 2,800 2,375 1,923
(1)In the first quarter of fiscal 2006, we early-adopted the fairvalue recognition provisions of Statement of Financial
Accounting Standards (SFAS) No. 123 (revised 2004), Share-Based Payment (123(R)), requiring us to recognize
Footnotes continue on next page.