Best Buy 2007 Annual Report Download - page 104

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$ in millions, except per share amounts
89
PART II
Condensed Consolidating Statements of Earnings
Fiscal Year Ended March 3, 2007
Best Buy
Co.,Inc.
Guarantor
Subsidiary
Non-Guarantor
Subsidiaries Eliminations Consolidated
Revenue $ 18 $29,113 $34,923 $(28,120) $35,934
Cost of goods sold — 24,073 31,357 (28,265) 27,165
Gross profit 18 5,040 3,566 145 8,769
Selling, general and administrative expenses 59 4,752 1,980 (21) 6,770
Operating (loss) income (41) 288 1,586 166 1,999
Net interest (expense) income (61) (173) 345 — 111
Gain on investments 20 — — — 20
Equity in earnings (loss) of subsidiaries 1,298 (47) 73 (1,324) —
Earnings before income tax expense 1,216 68 2,004 (1,158) 2,130
Income tax expense 5 42 705 — 752
Minority interest in earnings — — 1 — 1
Net earnings $ 1,211 $ 26 $ 1,298 $ (1,158) $ 1,377