Best Buy 2012 Annual Report Download - page 100
Download and view the complete annual report
Please find page 100 of the 2012 Best Buy annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90 -
91 -
92 -
93 -
94 -
95 -
96 -
97 -
98 -
99 -
100 -
101 -
102 -
103 -
104 -
105 -
106 -
107 -
108 -
109 -
110 -
111
-
112
-
113
-
114
-
115
-
116
-
117
 |
 |
$ in millions, except per share amounts or as otherwise noted
100
The following table presents the amount and cost of shares we repurchased and retired in fiscal 2012, 2011 and 2010 under the
June 2011 program and the June 2007 program (shares in millions):
2012 2011 2010
June 2011 Program
Total number of shares repurchased 34.5 — —
Total cost of shares repurchased $ 889 $ — $ —
June 2007 Program
Total number of shares repurchased 20.1 32.6 —
Total cost of shares repurchased $ 611 $ 1,193 $ —
At March 3, 2012, $4,111 remained available for additional purchases under the June 2011 share repurchase program.
Repurchased shares have been retired and constitute authorized but unissued shares.
Comprehensive (Loss) Income
Comprehensive (loss) income is computed as net (loss) earnings plus certain other items that are recorded directly to
shareholders' equity. In addition to net (loss) earnings, the significant components of comprehensive (loss) 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 (loss) income attributable to Best Buy Co., Inc. was $(1,314), $1,410 and $1,674 in fiscal 2012, 2011 and 2010,
respectively.
The components of accumulated other comprehensive income, net of tax, were as follows:
March 3,
2012 February 26,
2011
Foreign currency translation $ 93 $ 102
Unrealized (losses) gains on available-for-sale investments (3) 72
Unrealized losses on derivative instruments (cash flow hedges) — (1)
Total $ 90 $ 173
11. Leases
The composition of net rent expense for all operating leases, including leases of property and equipment, was as follows in
fiscal 2012, 2011 and 2010:
2012 2011 2010
Minimum rentals $ 1,192 $ 1,141 $ 1,111
Contingent rentals 2 2 2
Total rent expense 1,194 1,143 1,113
Less: sublease income (19)(19)(20)
Net rent expense $ 1,175 $ 1,124 $ 1,093