Best Buy 2008 Annual Report Download - page 104
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$ in millions, except per share amounts or as otherwise noted
Condensed Consolidating Statements of Earnings
Fiscal Year Ended March 3, 2007
Best Buy Guarantor Non-Guarantor
Co., Inc. Subsidiary 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
Other income (expense)
Investment income and other 118 — 345 (301) 162
Interest expense (159) (173) — 301 (31)
Equity in earnings (loss) of subsidiaries 1,298 (47) 73 (1,324) —
Earnings before income tax expense and
minority interest 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
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