Best Buy 2015 Annual Report Download - page 90

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Table of Contents
83
At January 31, 2015, there was $84 million of unrecognized compensation expense related to nonvested time-based share
awards that we expect to recognize over a weighted-average period of 1.9 years.
Earnings per Share
We compute our basic earnings per share based on the weighted-average number of common shares outstanding, and our
diluted earnings per share based on the weighted-average number of common shares outstanding adjusted by the number of
additional shares that would have been outstanding had the potentially dilutive common shares been issued. Potentially dilutive
securities include stock options, nonvested share awards and shares issuable under our employee stock purchase plan.
Nonvested market-based share awards and nonvested performance-based share awards are included in the average diluted
shares outstanding each period if established market or performance criteria have been met at the end of the respective periods.
At January 31, 2015, options to purchase 17.3 million shares of common stock were outstanding as follows (shares in millions):
Exercisable Unexercisable Total
Shares %
Weighted-
Average Price
per Share Shares %
Weighted-
Average Price
per Share Shares %
Weighted-
Average Price
per Share
In-the-money 2.8 20% $ 22.99 3.1 94% $ 25.60 5.9 34% $ 24.38
Out-of-the-money 11.2 80% $ 43.42 0.2 6% $ 34.25 11.4 66% $ 43.27
Total 14.0 100% $ 39.37 3.3 100% $ 26.11 17.3 100% $ 36.81
The computation of dilutive shares outstanding excludes the out-of-the-money stock options because such outstanding options'
exercise prices were greater than the average market price of our common shares and, therefore, the effect would be anti-
dilutive (i.e., including such options would result in higher earnings per share).
The following table presents a reconciliation of the numerators and denominators of basic and diluted earnings per share in
fiscal 2015, 2014 and 2013 (11-month):
12-Month 12-Month 11-Month
2015 2014 2013(1)
Numerator (in millions):
Net earnings (loss) from continuing operations attributable to Best Buy Co., Inc.,
shareholders, diluted $ 1,246 $ 695 $ (259)
Denominator (in millions):
Weighted-average common shares outstanding 349.5 342.1 338.6
Effect of potentially dilutive securities:
Stock options and other 4.1 5.5 —
Weighted-average common shares outstanding, assuming dilution 353.6 347.6 338.6
Net earnings (loss) per share from continuing operations attributable to Best Buy Co.,
Inc. shareholders
Basic $ 3.57 $ 2.03 $ (0.76)
Diluted $ 3.53 $ 2.00 $ (0.76)
(1) The calculation of diluted loss per share for fiscal 2013 (11-month) does not include potentially dilutive securities because their inclusion would be anti-
dilutive (i.e., reduce the net loss per share).
Repurchase of Common Stock
In June 2011, our Board of Directors authorized a $5.0 billion share repurchase program. The June 2011 program replaced our
prior $5.5 billion share repurchase program authorized in June 2007. There is no expiration date governing the period over
which we can repurchase shares under the June 2011 share repurchase program.
The following table presents the amount and cost of shares we repurchased and retired in fiscal 2015, 2014 and 2013 (11-
month) under the June 2011 program and the June 2007 program ($ and shares in millions):