Best Buy 2006 Annual Report Download - page 98

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$ in millions, except per share amounts
84
The following tables present condensed consolidating balance sheets for the fiscal years endedFebruary 25, 2006, and
February 26, 2005, and condensed consolidating statements of earnings and cash flows for the fiscal years ended
February 25, 2006; February 26, 2005; and February 28,2004:
Condensed Consolidating Balance Sheets
As of February 25, 2006
Best Buy
Co., Inc.
Guarantor
Subsidiary
Non-Guarantor
SubsidiariesEliminations Consolidated
Assets
Current Assets
Cash and cash equivalents $ 10 $79 $ 592 $ — $ 681
Short-term investments 2,884 — 167 — 3,051
Receivables27 319 160— 506
Merchandise inventories —3,173 636(471 ) 3,338
Other current assets 20 211265 (87
) 409
Intercompany receivable— — 3,757 (3,757) —
Intercompany note receivable 500 —— (500 ) —
Total current assets 3,441 3,782 5,577(4,815) 7,985
Net Property and Equipment 244 1,733 737(2 ) 2,712
Goodwill — 6 551 — 557
Tradename — — 44— 44
Long-Term Investments 218 — — — 218
Other Assets 108 266 131(157 ) 348
Investments in Subsidiaries 4,813 — 1,124 (5,937) —
Total Assets $8,824 $5,787 $8,164 $(10,911 ) $11,864
Liabilities and Shareholders’ Equity
Current Liabilities
Accounts payable $— $ —$3,234 $— $3,234
Unredeemedgift card liabilities—43039— 469
Accrued compensation and related
expenses 3 225 126— 354
Accrued liabilities 7518 392(39 ) 878
Accrued income taxes 670 —76(43 ) 703
Current portion of long-term debt 404 95— 418
Intercompany payable 1,717 2,134 —(3,851) —
Intercompany note payable —500 — (500 ) —
Total current liabilities 2,801 3,816 3,872 (4,433) 6,056
Long-Term Liabilities 257 732 31 (647 ) 373
Long-Term Debt 7 115 56 — 178
Shareholders’ Equity 5,759 1,124 4,205 (5,831) 5,257
Total Liabilities and Shareholders’ Equity $8,824 $5,787 $8,164 $(10,911 ) $11,864