Fair Value Measurements (Tables)

12 Months Ended

Mar. 03, 2012

Fair value, assets and liabilities measured on recurring basis

The following tables set forth by level within the fair value hierarchy, our financial assets and liabilities that were accounted for at fair value on a recurring basis at March 3, 2012, and February 26, 2011, according to the valuation techniques we used to determine their fair values.



			Fair Value Measurements Using Inputs Considered as
	Fair Value at March 3, 2012		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets
Cash and cash equivalents
Money market funds	$	272	$	272	$	—	$	—
Other current assets
Money market funds (restricted assets)	119		119		—		—
U.S. Treasury bills (restricted assets)	30		30		—		—
Foreign currency derivative instruments	1		—		1		—
Equity and other investments
Auction rate securities	82		—		—		82
Marketable equity securities	3		3		—		—
Other assets
Marketable securities that fund deferred compensation	83		83		—		—
Liabilities
Accrued liabilities
Foreign currency derivative instruments	2		—		2		—
Long-term liabilities
Deferred compensation	62		62		—		—



			Fair Value Measurements Using Inputs Considered as
	Fair Value at February 26, 2011		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets
Cash and cash equivalents
Money market funds	$	70	$	70	$	—	$	—
Short-term investments
Money market fund	2		—		2		—
U.S. Treasury bills	20		20		—		—
Other current assets
Money market funds (restricted assets)	63		63		—		—
U.S. Treasury bills (restricted assets)	105		105		—		—
Foreign currency derivative instruments	2		—		2		—
Equity and other investments
Auction rate securities	110		—		—		110
Marketable equity securities	146		146		—		—
Other assets
Marketable securities that fund deferred compensation	83		83		—		—
Liabilities
Accrued liabilities
Foreign currency derivative instruments	1		—		1		—
Long-term liabilities
Deferred compensation	64		64		—		—
Foreign currency derivative instruments	2		—		2		—

Fair value, assets measured on a recurring basis, unobservable input reconciliation

The following table provides a reconciliation between the beginning and ending balances of items measured at fair value on a recurring basis in the tables above that used significant unobservable inputs (Level 3).



	Debt securities — Auction rate securities only
	Student loan bonds			Municipal revenue bonds			Total
Balances at February 27, 2010	$	261		$	19		$	280
Changes in unrealized losses in other comprehensive income	(1		)	1			—
Sales	(152		)	(18		)	(170		)
Balances at February 26, 2011	$	108		$	2		$	110
Changes in unrealized losses in other comprehensive income	(1		)	—			(1		)
Sales	(27		)	—			(27		)
Balances at March 3, 2012	$	80		$	2		$	82

Fair value, assets and liabilities measured on nonrecurring basis, fair value remeasurements (impairments)

The following table summarizes the fair value remeasurments recorded for fiscal 2012 and 2011:



	Fiscal 2012				Fiscal 2011
	Impairments		Remaining Net Carrying Value		Impairments		Remaining Net Carrying Value
Continuing operations
Goodwill of Best Buy Europe reporting unit	$	1,207	$	—	$	—	$	—
Property and equipment	32		—		122		49
Total	$	1,239	$	—	$	122	$	49
Discontinued operations⁽¹⁾
Property and equipment	$	111	$	—	$	25	$	2
Tradename	3		—		10		3
Total	$	114	$	—	$	35	$	5


(1)	Fixed asset and tradename impairments associated with discontinued operations are recorded within Loss from discontinued operations in our Consolidated Statements of Earnings.

- Definition

Tabular disclosure of assets and liabilities by class, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). The disclosures that may be required or desired include: (a) the fair value measurements recorded during the period and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets or liabilities (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

+ References+ Details

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income, and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issuances, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References+ Details