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BEST BUY BALANCE SHEET

2015 2016 2017


Cash & Short Term Investments 4.07B 3.47B 4.11B
Cash Only 2.62B 2.16B 2.43B
Short-Term Investments 1.46B 1.31B 1.68B
Total Accounts Receivable 1.28B 1.16B 1.35B
Accounts Receivables, Net 1.28B 1.16B 1.35B
Accounts Receivables, Gross 1.34B 1.21B 1.4B
Bad Debt/Doubtful Accounts (59M) (49M) (52M)
Other Receivables - - -
Inventories 5.17B 5.05B 4.86B
Finished Goods 5.17B 5.05B 4.86B
Work in Progress - - -
Raw Materials - - -
Progress Payments & Other - - -
Other Current Assets 1.2B 207M 191M
Miscellaneous Current Assets 1.2B 207M 191M
Total Current Assets 11.73B 9.89B 10.52B

Net Property, Plant & Equipment 2.3B 2.35B 2.29B

Property, Plant & Equipment - 7.66B 8.11B 8.14B


Gross
Buildings 611M 613M 618M
Land & Improvements - - -
Computer Software and - - -
Equipment

Other Property, Plant & Equipment 6.93B 7.22B 7.23B


Accumulated Depreciation 5.37B 5.76B 5.85B
Total Investments and Advances - - -
Other Long-Term Investments - - -
Long-Term Note Receivable - - -
Intangible Assets 482M 443M 443M
Net Goodwill 425M 425M 425M
Net Other Intangibles 57M 18M 18M
Other Assets 428M 334M 287M
Tangible Other Assets 428M 334M 191M
Total Assets 15.26B 13.52B 14.22B

ST Debt & Current Portion LT Debt 41M 395M 44M


Short Term Debt - - -
Current Portion of Long Term Debt 41M 395M 44M
Accounts Payable 5.03B 4.45B 4.98B
Income Tax Payable 230M 128M 26M
Other Current Liabilities 2.48B 1.95B 2.07B
Dividends Payable - - -
Accrued Payroll 372M 384M 358M
Miscellaneous Current Liabilities 2.1B 1.57B 1.71B
Total Current Liabilities 7.78B 6.93B 7.12B
Long-Term Debt 1.58B 1.34B 1.32B
Long-Term Debt excl. Capitalized 1.5B 1.17B 1.16B
Leases
Non-Convertible Debt 1.5B 1.17B 1.16B
Convertible Debt - - -
Capitalized Lease Obligations 80M 171M 163M
Provision for Risks & Charges 96M 108M 100M
Deferred Taxes (322M) (510M) (317M)
Deferred Taxes - Credit - - 359M
Deferred Taxes - Debit 322M 510M 676M
Other Liabilities 803M 769M 604M
Other Liabilities (excl. Deferred 803M 769M 570M
Income)
Deferred Income - - 34M
Total Liabilities 10.26B 9.14B 9.51B
Non-Equity Reserves - - -
Preferred Stock (Carrying Value) - - -
Redeemable Preferred Stock - - -
Non-Redeemable Preferred Stock - - -
Common Equity (Total) 5B 4.38B 4.71B
Common Stock Par/Carry Value 35M 32M 31M
Retained Earnings 4.14B 4.13B 4.4B
ESOP Debt Guarantee - - -
Cumulative Translation
Adjustment/Unrealized For. Exch. 382M 271M 279M
Gain
Unrealized Gain/Loss Marketable - - -
Securities
Revaluation Reserves - - -
Treasury Stock - - -
Total Shareholders' Equity 5B 4.38B 4.71B
Accumulated Minority Interest 5M - -
Total Equity 5B 4.38B 4.71B
Liabilities & Shareholders' Equity 15.26B 13.52B 14.22B
Vertical Horizaontal
2017 Ratio 2016-2017
29% 0.8442822384
17% 0.8888888889
12% 0.7797619048
9% 0.8592592593
9% 0.8592592593
10% 0.8642857143
-4% 0.9423076923

34% 1.0390946502
34% 1.0390946502

1% 1.0837696335
1% 1.0837696335
74% 0.9401140684

16% 1.0262008734

57% 0.9963144963
4% 0.0991909385

51% 0.9986168741
41% 0.9846153846

3% 1
3% 1
1% 1
2% 1.1637630662
1% 1.7486910995
100% 0.9507735584

3% 0.8977272727
3% 0.8977272727
35% 0.8935742972
2% 0.4923076923
15% 0.975

3% 1.0726256983

12% 0.918128655
50% 0.9733146067
9% 1.0151515152

8% 1.0086206897
8% 1.0086206897

1% 1.0490797546
1% 1.08
-2% 1.6088328076
3% 0
5% 0.7544378698
4% 1.2731788079

4% 1.349122807
2% 0
67% 0.9610935857

33% 0.9299363057
2% 1.0322580645
31% 0.9386363636

2% 0.9713261649

33% 0.9299363057
33% 0.9299363057

100% 0.9507735584
BEST BUY INCOME STATEMENT
2015 2016 2017 2017 Ratio
Sales/Revenue 40.34B 39.53B 39.4B
Cost of Goods Sold (COGS)31.29B
incl. D&A 30.42B 30.12B
76%
COGS excluding D&A 30.64B 29.77B 29.47B 75%
Depreciation & 656M 657M 654M
Amortization Expense 2%
Depreciation 656M 657M 654M 2%
Amortization of
- - -
Intangibles
Gross Income 9.05B 9.11B 9.28B 24%
SG&A Expense 7.6B 7.62B 7.54B 19%
Research & Development - - -
Other SG&A 7.6B 7.62B 7.54B 19%
Other Operating Expense - - -
Unusual Expense (7M) 109M (119M) 0%
EBIT after Unusual 1.45B 1.38B 1.85B
Expense 5%
Non Operating 13M 2M 3M
Income/Expense 1%
Non-Operating Interest 14M 13M 31M
Income 1%
Equity in Affiliates - - -
(Pretax)
Interest Expense 90M 80M 72M 2%
Gross Interest Expense 90M 80M 72M 2%
Interest Capitalized - - -
Pretax Income 1.39B 1.31B 1.82B 5%
Income Tax 141M 503M 609M 2%
Income Tax - Current 405M 395M 354M
Domestic 1%
Income Tax - Current 33M 60M 54M
Foreign 1%
Income Tax - Deferred (301M) 75M 184M
Domestic 0%
Income Tax - Deferred 4M (27M) 17M
Foreign 0%
Income Tax Credits - - -
Equity in Affiliates - - -
Other After Tax Income - - -
(Expense)

Consolidated Net Income 1.25B 807M 1.21B

Minority Interest Expense - - -


Net Income 1.25B 807M 1.21B
Extraordinaries &
Discontinued Operations (13M) 90M 21M

Extra Items & Gain/Loss 1M 99M -


Sale Of Assets

Cumulative Effect - - - -
Accounting Chg

Discontinued Operations (14M) (9M) 21M

Net Income After 1.23B 897M 1.23B


Extraordinaries
Preferred Dividends - - -
Net Income Available to 1.23B 798M 1.23B
Common
EPS (Basic) 3.53 2.3 3.86
Basic Shares Outstanding 349.5M 346.5M 318.5M
EPS (Diluted) 3.48 2.28 3.81
Diluted Shares 353.6M 350.7M 322.6M
Outstanding
EBITDA 2.1B 2.14B 2.39B
BEST BUY CASH FLOW

Operating Activities

2015 2016 2017


Net Income before Extraordinaries
1.24B 897M 1.23B

Depreciation, Depletion & 656M 657M 654M


Amortization
Depreciation and Depletion 656M 657M 654M
Amortization of Intangible
- - -
Assets
Deferred Taxes & Investment (297M) 49M 201M
Tax Credit
Deferred Taxes (297M) 49M 201M
Investment Tax Credit - - -
Other Funds 117M 244M 116M
Funds from Operations 1.71B 1.85B 2.2B
Extraordinaries - - -
Changes in Working Capital 224M (525M) 346M
Receivables (19M) 123M (185M)
Accounts Payable 434M (536M) 518M
Other Assets/Liabilities (135M) (104M) 33M
Net Operating Cash Flow 1.94B 1.32B 2.55B

Investing Activities

2015 2016 2017


Capital Expenditures (561M) (649M) (582M)
Capital Expenditures (Fixed (561M) (649M) (582M)
Assets)
Capital Expenditures (Other
- - -
Assets)
Net Assets from Acquisitions - - -
Sale of Fixed Assets & 39M 103M 56M
Businesses
Purchase/Sale of Investments (1.22B) 146M (356M)
Purchase of Investments (2.8B) (2.28B) (3.05B)
Sale/Maturity of Investments 1.58B 2.43B 2.69B
Other Uses - - -
Other Sources 5M 28M 3M
Net Investing Cash Flow (1.74B) (372M) (879M)
Financing Activities

2015 2016 2017


Cash Dividends Paid - Total (251M) (499M) (505M)
Common Dividends (251M) (499M) (505M)
Preferred Dividends - - -
Change in Capital Stock 50M (1.01B) (527M)
Repurchase of Common & - (1.06B) (698M)
Preferred Stk.
Sale of Common & Preferred
50M 47M 171M
Stock
Proceeds from Stock Options - 47M 171M
Other Proceeds from Sale of 50M - -
Stock
Issuance/Reduction of Debt, (24M) (28M) (394M)
Net
Change in Current Debt - - -
Change in Long-Term Debt (24M) (28M) (394M)
Issuance of Long-Term Debt - - -
Reduction in Long-Term Debt (24M) (28M) (394M)
Other Funds 2M 20M 22M
Other Uses - - -
Other Sources 2M 20M 22M
Net Financing Cash Flow (223M) (1.52B) (1.4B)
Exchange Rate Effect (52M) (38M) 10M
Miscellaneous Funds - - -
Net Change in Cash (81M) (603M) 272M
Free Cash Flow 1.37B 673M 1.96B