Fair Value Measurements (Tables)

3 Months Ended

May 04, 2013

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 May 4, 2013, February 2, 2013 and May 5, 2012, according to the valuation techniques we used to determine their fair values ($ in millions).



			Fair Value Measurements Using Inputs Considered as
	Fair Value at May 4, 2013		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	$	40	$	40	$	—	$	—
Equity and other investments
Auction rate securities	21		—		—		21
Marketable equity securities	3		3		—		—

LIABILITIES
Accrued liabilities
Foreign currency derivative instruments	5		—		5		—

ASSETS HELD FOR SALE
Short-term investments
Marketable equity securities	9		9		—		—
Other current assets
Money market funds (restricted assets)	34		34		—		—



			Fair Value Measurements Using Inputs Considered as
	Fair Value at February 2, 2013		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	$	520	$	520	$	—	$	—
Other current assets
Foreign currency derivative instruments	1		—		1		—
Equity and other investments
Auction rate securities	21		—		—		21
Marketable equity securities	27		27		—		—



			Fair Value Measurements Using Inputs Considered as
	Fair Value at May 5, 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	$	439	$	439	$	—	$	—
Other current assets
Money market funds (restricted assets)	104		104		—		—
U.S. Treasury bills (restricted assets)	30		30		—		—
Equity and other investments
Auction rate securities	66		—		—		66
Marketable equity securities	3		3		—		—

Fair Value, Assets Measured on a Recurring Basis, Unobservable Input Reconciliation

The following tables provide 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) for the three months ended May 4, 2013 and two months ended May 5, 2012 ($ in millions).



	Debt securities- Auction rate securities only
	Student loan bonds		Municipal revenue bonds		Total
Balances at February 2, 2013	$	19	$	2	$	21
Changes in unrealized losses included in other comprehensive income	—		—		—
Sales	—		—		—
Balances at May 4, 2013	$	19	$	2	$	21



	Debt securities- Auction rate securities only
	Student loan bonds			Municipal revenue bonds		Total
Balances at March 3, 2012	$	80		$	2	$	82
Changes in unrealized losses included in other comprehensive income	1			—		1
Sales	(17		)	—		(17		)
Balances at May 5, 2012	$	64		$	2	$	66

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis

The following table summarizes the fair value remeasurements recorded during the three months ended May 4, 2013 and May 5, 2012 ($ in millions):



	Three Months Ended				Three Months Ended
	May 4, 2013				May 5, 2012
	Impairments		Remaining Net Carrying Value		Impairments		Remaining Net Carrying Value
Continuing operations
Property and equipment	$	1	$	—	$	26	$	—
Discontinued operations⁽¹⁾
Property and equipment⁽²⁾	220		147		—		—
Tradename	4		22		—		—
Total discontinued operations	$	224	$	169	$	—	$	—


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


⁽²⁾	Includes the $175 million impairment to write down the book value of our investment in Best Buy Europe to fair value based on expected net proceeds as described in Note 2, Assets and Liabilities Held for Sale and Discontinued Operations.

- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

+ 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 (loss), 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, issues, 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