Best Buy 2011 Annual Report Download - page 111
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$ in millions, except per share amounts or as otherwise noted
Open Market Repurchases
The following table presents open market share repurchases in fiscal 2011, 2010 and 2009 (shares in millions):
2011 2010 2009
Total number of shares repurchased 32.6 — —
Total cost of shares repurchased $1,193 $— $—
Comprehensive Income
Comprehensive income is computed as net earnings plus certain other items that are recorded directly to shareholders’
equity. In addition to net earnings, the significant components of comprehensive income include foreign currency
translation adjustments and unrealized gains and losses, net of tax, on available-for-sale marketable equity securities and
on derivative instruments. Foreign currency translation adjustments do not include a provision for income tax expense
when earnings from foreign operations are considered to be indefinitely reinvested outside the U.S.
Comprehensive income attributable to Best Buy Co., Inc. was $1,410, $1,674 and $184 in fiscal 2011, 2010 and 2009,
respectively.
The components of accumulated other comprehensive income, net of tax, were as follows:
February 26, February 27,
2011 2010
Foreign currency translation $102 $26
Unrealized gains on available-for-sale investments 72 14
Unrealized losses on derivative instruments (cash flow hedges) (1) —
Total $173 $40
9. Leases
The composition of net rent expense for all operating leases, including leases of property and equipment, was as follows
in fiscal 2011, 2010 and 2009:
2011 2010 2009
Minimum rentals $1,176 $1,145 $962
Contingent rentals 221
Total rent expense 1,178 1,147 963
Less: sublease income (19) (20) (23)
Net rent expense $1,159 $1,127 $940
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