Best Buy 2013 Annual Report Download - page 77

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77
Pre-Opening Costs
Non-capital expenditures associated with opening new stores are expensed as incurred.
Stock-Based Compensation
We apply the fair value recognition provisions of accounting guidance as they relate to our stock-based compensation, which
require us to recognize expense for the fair value of our stock-based compensation awards. We recognize compensation
expense on a straight-line basis over the requisite service period of the award (or to an employee's eligible retirement date, if
earlier).
New Accounting Standards
Comprehensive Income — In June 2011, the FASB issued new guidance on the presentation of comprehensive income.
Specifically, the new guidance requires an entity to present components of net income and other comprehensive income in one
continuous statement, referred to as the statement of comprehensive income, or in two separate, but consecutive statements.
The new guidance eliminated the previous option to report other comprehensive income and its components in the statement of
changes in equity. While the new guidance changes the presentation of comprehensive income, there are no changes to the
components that are recognized in net income or other comprehensive income under current accounting guidance. This new
guidance was effective for fiscal years and interim periods beginning after December 15, 2011. Accordingly, we adopted the
new guidance on March 4, 2012, and have presented total comprehensive income in the Consolidated Statements of
Comprehensive Income.
2. Fiscal Year-end Change
On November 2, 2011, our Board of Directors approved a change to our fiscal year-end from the Saturday nearest the end of
February to the Saturday nearest the end of January. As a result of this change, our fiscal year 2013 is an 11-month transition
period beginning March 4, 2012 through February 2, 2013. In the first quarter of fiscal 2013 (11-month), we also began
consolidating the results of our Europe, China and Mexico operations on a one-month lag, compared to a two-month lag in
fiscal years 2012 and 2011, to continue to align our fiscal reporting periods with statutory filing requirements.
The following table shows the fiscal months included within our financial statements and footnotes for fiscal 2013 (11-month),
as well as the fiscal months included within our financial statements and footnotes for fiscal 2012 and 2011:
New Fiscal Calendar(1) Previous Fiscal Calendar(1)
2013 (11-Month) 2012 2011
March 2012 - January 2013 March 2011 - February 2012 March 2010 - February 2011
(1) For entities reported on a lag, the fiscal months included in fiscal 2013 (11-month) were February through December, and in fiscal 2012 and 2011 were
January through December.
January Results for Entities Reported on a Lag
As a result of the 11-month transition period in fiscal 2013, the month of January 2012 was not captured in our consolidated
fiscal 2013 (11-month) results for those entities reported on a one-month lag. The following is selected financial data for the
one month ended January 31, 2012, and the comparable prior year period, for entities reported on a lag ($ in millions):
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