Best Buy 2011 Annual Report Download - page 71
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Consolidated Statements of Earnings
$ in millions, except per share amounts
February 26, February 27, February 28,
Fiscal Years Ended 2011 2010 2009
Revenue $50,272 $49,694 $45,015
Cost of goods sold 37,611 37,534 34,017
Restructuring charges — cost of goods sold 24 — —
Gross profit 12,637 12,160 10,998
Selling, general and administrative expenses 10,325 9,873 8,984
Restructuring charges 198 52 78
Goodwill and tradename impairment — — 66
Operating income 2,114 2,235 1,870
Other income (expense)
Investment income and other 51 54 35
Investment impairment — — (111)
Interest expense (87) (94) (94)
Earnings before income tax expense and equity in income of affiliates 2,078 2,195 1,700
Income tax expense 714 802 674
Equity in income of affiliates 2 1 7
Net earnings including noncontrolling interests 1,366 1,394 1,033
Net earnings attributable to noncontrolling interests (89) (77) (30)
Net earnings attributable to Best Buy Co., Inc. $ 1,277 $ 1,317 $ 1,003
Earnings per share attributable to Best Buy Co., Inc.
Basic $ 3.14 $ 3.16 $ 2.43
Diluted $ 3.08 $ 3.10 $ 2.39
Weighted-average common shares outstanding (in millions)
Basic 406.1 416.8 412.5
Diluted 416.5 427.5 422.9
See Notes to Consolidated Financial Statements.
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