Fair Value Measurements (Tables)

6 Months Ended

Aug. 03, 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 August 3, 2013, February 2, 2013, and August 4, 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 August 3, 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	$	334	$	334	$	—	$	—
Other current assets
Foreign currency derivative instruments	1		—		1		—
Equity and other investments
Auction rate securities	16		—		—		16
Marketable equity securities	4		4		—		—



			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 August 4, 2012		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
ASSETS
Other current assets
Money market funds (restricted assets)	$	62	$	62	$	—	$	—
U.S. Treasury bills (restricted assets)	30		30		—		—
Equity and other investments
Auction rate securities	22		—		—		22
Marketable equity securities	3		3		—		—

LIABILITIES
Accrued liabilities
Foreign currency derivative instruments	2		—		2		—

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 and six months ended August 3, 2013, and the three and five months ended August 4, 2012 ($ in millions).



	Debt securities- Auction rate securities only
	Student loan bonds			Municipal revenue bonds		Total
Balances at May 4, 2013	$	19		$	2	$	21
Sales	(5		)	—		(5		)
Balances at August 3, 2013	$	14		$	2	$	16



	Debt securities- Auction rate securities only
	Student loan bonds			Municipal revenue bonds		Total
Balances at February 2, 2013	$	19		$	2	$	21
Sales	(5		)	—		(5		)
Balances at August 3, 2013	$	14		$	2	$	16



	Debt securities- Auction rate securities only
	Student loan bonds			Municipal revenue bonds		Total
Balances at May 5, 2012	$	64		$	2	$	66
Changes in unrealized losses included in other comprehensive income	3			—		3
Sales	(47		)	—		(47		)
Balances at August 4, 2012	$	20		$	2	$	22



	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	4			—		4
Sales	(64		)	—		(64		)
Balances at August 4, 2012	$	20		$	2	$	22

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis

The following table summarizes the fair value remeasurements recorded during the six months ended August 3, 2013, and August 4, 2012 ($ in millions):



	Six Months Ended				Six Months Ended
	August 3, 2013				August 4, 2012
	Impairments		Remaining Net Carrying Value		Impairments		Remaining Net Carrying Value
Continuing operations
Property and equipment	$	3	$	—	$	29	$	—
Discontinued operations⁽¹⁾
Property and equipment⁽²⁾	220		—		—		—
Tradename	4		—		—		—
Total discontinued operations	$	224	$	—	$	—	$	—


⁽¹⁾	Property and equipment and tradename impairments associated with discontinued operations are recorded within Gain (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. Upon completion of the sale of Best Buy Europe as described in Note 2, Discontinued Operations, the remaining net carrying values of all assets have been reduced to zero.

- 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