Best Buy 2014 Annual Report Download - page 62

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57
Consolidated Statements of Earnings
$ in millions, except per share amounts
12 Months
Ended 11 Months Ended 12 Months
Ended
Fiscal Years Ended February 1,
2014 February 2,
2013 January 28,
2012 March 3,
2012
(Unaudited
recast)
Revenue $ 42,410 $ 39,827 $ 41,311 $ 45,457
Cost of goods sold 32,720 30,528 31,384 34,454
Restructuring charges — cost of goods sold — 1 19 19
Gross profit 9,690 9,298 9,908 10,984
Selling, general and administrative expenses 8,391 8,181 7,986 8,755
Restructuring charges 159 414 24 29
Goodwill impairments — 822 — —
Operating income (loss) 1,140 (119) 1,898 2,200
Other income (expense)
Gain on sale of investments 20 — 55 55
Investment income and other 27 20 23 22
Interest expense (100)(99)(101)(111)
Earnings (loss) from continuing operations before income tax expense
and equity in income (loss) of affiliates 1,087 (198) 1,875 2,166
Income tax expense 398 269 658 742
Net earnings (loss) from continuing operations 689 (467) 1,217 1,424
Gain (loss) from discontinued operations (Note 4), net of tax of $42,
$37, $119 and $122 (166) 47 (1,394)(1,402)
Net earnings (loss) including noncontrolling interests 523 (420)(177) 22
Net earnings from continuing operations attributable to
noncontrolling interests (2)(2)(3)(3)
Net (earnings) loss from discontinued operations attributable to
noncontrolling interests 11 (19)(1,245)(1,250)
Net earnings (loss) attributable to Best Buy Co., Inc. shareholders $ 532 $ (441) $ (1,425) $ (1,231)
Basic earnings (loss) per share attributable to Best Buy Co., Inc. shareholders
Continuing operations $ 2.01 $ (1.38) $ 3.26 $ 3.88
Discontinued operations (0.45) 0.08 (7.09)(7.24)
Basic earnings (loss) per share $ 1.56 $ (1.30) $ (3.83) $ (3.36)
Diluted earnings (loss) per share attributable to Best Buy Co., Inc. shareholders
Continuing operations $ 1.98 $ (1.38) $ 3.19 $ 3.81
Discontinued operations (0.45) 0.08 (6.91)(7.08)
Diluted earnings (loss) per share $ 1.53 $ (1.30) $ (3.72) $ (3.27)
Weighted-average common shares outstanding (in millions)
Basic 342.1 338.6 372.5 366.3
Diluted 347.6 338.6 382.0 374.5
See Notes to Consolidated Financial Statements.