Best Buy 2015 Annual Report Download - page 101

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Table of Contents
94
Quarter 12-Month
1st 2nd 3rd 4th 2014
Revenue $ 8,928 $ 8,734 $ 8,924 $ 14,025 $ 40,611
Comparable sales % decline(1) (1.8)% (0.6)% 0.5% (1.3)% (1.0)%
Gross profit $ 2,105 $ 2,373 $ 2,093 $ 2,828 $ 9,399
Operating income(4) 187 405 100 452 1,144
Net earnings from continuing operations 112 233 50 300 695
Gain (loss) from discontinued operations, net of tax (185) 15 4 (6) (172)
Net earnings (loss) including noncontrolling
interests (73) 248 54 294 523
Net earnings (loss) attributable to Best Buy Co.,
Inc. shareholders (81) 266 54 293 532
Diluted earnings (loss) per share(3)
Continuing operations $ 0.33 $ 0.67 $ 0.15 $ 0.85 $ 2.00
Discontinued operations (0.57) 0.10 0.01 (0.02) (0.47)
Diluted earnings (loss) per share $ (0.24) $ 0.77 $ 0.16 $ 0.83 $ 1.53
(1) Our comparable sales calculation compares revenue from stores, websites and call centers operating for at least 14 full months, as well as revenue related
to certain other comparable sales channels for a particular period to a corresponding period in the prior year. Relocated, as well as remodeled, expanded
and downsized stores closed more than 14 days, are excluded from our comparable store sales calculation until at least 14 full months after reopening.
Acquisitions are included in the comparable sales calculation beginning with the first full quarter following the first anniversary of the date of the
acquisition. The portion of the calculation of comparable sales attributable to our International segment excludes the effect of fluctuations in foreign
currency exchange rates. The calculation of comparable sales excludes the impact of revenue from discontinued operations. Comparable online sales are
included in our comparable sales calculation. The method of calculating comparable sales varies across the retail industry. As a result, our method of
calculating comparable sales may not be the same as other retailers' methods.
(2) Includes $2 million, $5 million, $5 million and $(7) million of restructuring charges recorded in the fiscal first, second, third and fourth quarters,
respectively, and $5 million for the 12 months ended January 31, 2015 related to measures we took to restructure our businesses.
(3) The sum of our quarterly diluted earnings per share does not equal our annual diluted earnings per share due to differences in quarterly and annual
weighted-average shares outstanding.
(4) Includes $5 million, $4 million, $27 million and $113 million of restructuring charges recorded in the fiscal first, second, third and fourth quarters,
respectively, and $149 million for the 12 months ended February 1, 2014 related to measures we took to restructure our businesses.