Best Buy 2006 Annual Report Download - page 50

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36
The following table reconciles International stores open at the beginning and end of fiscal 2006:
Total
Stores at
End of
Fiscal 2005
Stores
Opened
Stores
Closed
Total
Stores at
End of
Fiscal 2006
Future Shop 114 5 1 118
Canadian Best Buy 30 14 — 44
Canadian Geek Squad — 5—
5
Total 144 24 1 167
Note: During fiscal 2006, werelocated or remodeled eight Future Shop stores. No Canadian Best Buy stores were relocated or rem odeled
during fiscal2006. At the end of fiscal 2006, we operated 118 Future Shop stores throughout all Canadian provinces; 44 Canadian Best
Buy stores in Ontario, Quebec,Alberta, British Columbia, Manitoba and Saskatchewan; and five Canadian Geek Squad stores in British
Columbia and Ontario.
The following table reconciles International stores open at the beginning and end of fiscal 2005:
Total
Stores at
End of
Fiscal 2004
Stores
Opened
Stores
Closed
Total
Stores at
End of
Fiscal 2005
Future Shop 108 6 — 114
Canadian Best Buy 19 11 — 30
Total 127 17 — 144
Note: During fiscal 2005, werelocated four Future Shop stores. No Future Shop stores were remodeled during fiscal 2005. No Canadian
Best Buy stores were relocated or remodeled during fiscal 2005. At the end of fiscal 2005, we operated 114 Future Shop stores throughout
all Canadian provinces and 30 Canadian Best Buy stores in Ontario, Alberta, British Columbia, Manitoba and Saskatchewan.
Discontinued Operations
The sale of Musicland during fiscal 2004 resulted in an
after-tax loss on the disposal of discontinued operations
totaling $66 million. The results of discontinued operations
for fiscal 2004 are included through the date of the sale,
June 16, 2003. For additional information regarding
discontinued operations, refer to Note 2, Discontinued
Operations, of the Notes to Consolidated Financial
Statements, included in Item 8, Financial Statements and
Supplementary Data, of this Annual Report on Form 10-K.
The results from discontinued operations for the past three fiscalyears are as follows ($ in millions):
For the Fiscal Years Ended
Feb. 25,
2006
Feb. 26,
2005
Feb. 28,
2004
Revenue $ — $ — $ 354
Loss before income taxes — — (46)
Loss before the disposal and the cumulative effect of accounting changes, net of $17 tax — — (29)
Gain (loss) on disposal of discontinued operations(1)— 50 (66)
Gain (loss) fromdiscontinued operations, net of tax $ — $ 50 $ (95)
(1)Fiscal 2005 gain on disposal of discontinued operations represents the reversal of valuation allowances on deferred tax assets as a
result of the favorable resolution of outstanding tax matters with the Internal Revenue Serviceregarding the disposition of our interest in
Musicland. The fiscal 2004 loss on disposal of discontinued operationsis net of $25 million tax benefit offset by a $25 million
valuation allowance.