Best Buy 2011 Annual Report Download - page 91

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$ in millions, except per share amounts or as otherwise noted
respective weighted-average amortization periods based on the purchase price allocation finalized in the second quarter of
fiscal 2010:
Weighted-Average
Amortization Period Fair
(in years) Value
Customer relationships 6.8 $484
Tradenames 4.2 93
Total 6.4 $577
We recorded an estimate for costs to terminate certain activities associated with Best Buy Europe operations. A
restructuring accrual of $20 was recorded during the second quarter of fiscal 2009 and reflects the accrued restructuring
costs incurred at the date of acquisition, primarily for store closure costs and agreement termination fees.
On March 26, 2010, CPW demerged into two new holding companies: TalkTalk Telecom Group PLC (‘‘TalkTalk’’), which
is the holding company for the fixed line voice and broadband telecommunications business of the former CPW, and
Carphone Warehouse Group plc (‘‘Carphone Warehouse’’), which includes the former CPW’s 50% ownership interest in
Best Buy Europe. Accordingly, the sale and purchase and shareholders’ agreements between the former CPW and us that
govern the Best Buy Europe venture were assigned from the former CPW to Carphone Warehouse.
Our interest in Best Buy Europe is separate from our investment in the common stock of the former CPW, now TalkTalk
and Carphone Warehouse, as discussed in Note 3, Investments.
Pro Forma Financial Results
Our pro forma condensed consolidated financial results of operations are presented in the following table as if the
acquisitions described above had been completed at the beginning of the period presented:
Fiscal Year 2009
Pro forma revenue $48,021
Pro forma net earnings 998
Pro forma earnings per common share
Basic $ 2.42
Diluted 2.38
Weighted-average common shares outstanding
Basic 412.5
Diluted 422.9
These pro forma condensed consolidated financial results have been prepared for comparative purposes only and include
certain adjustments, such as increased interest expense on acquisition debt, foregone interest income and amortization
related to acquired customer relationships and tradenames. They have not been adjusted for the effect of costs or
synergies that would have been expected to result from the integration of these acquisitions or for costs that are not
expected to recur as a result of the acquisitions. The pro forma information does not purport to be indicative of the results
of operations that actually would have resulted had the acquisitions occurred at the beginning of each period presented,
or of future results of the consolidated entities.
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