EX-99.2 4 a03-2615_1ex99d2.htm EX-99.2

Exhibit 99.2

 

Best Buy Co., Inc.
Supplemental Historical Information*
Consolidated Statements of Earnings
($ in millions, except per share amounts)
(Unaudited)

 

 

 

Three Months Ended

 

Six Months Ended

 

 

 

Aug. 31, 2002

 

Aug. 31, 2002

 

Revenue

 

$

4,624

 

$

8,826

 

Cost of goods sold

 

3,471

 

6,593

 

Gross profit

 

1,153

 

2,233

 

Selling, general and administrative expenses

 

1,024

 

1,975

 

Operating income

 

129

 

258

 

Net interest expense

 

2

 

1

 

Earnings from continuing operations before income tax expense

 

127

 

257

 

Income tax expense

 

48

 

99

 

Earnings from continuing operations

 

79

 

158

 

Loss from discontinued operations, net of tax

 

(17

)

(347

)

Cumulative effect of change in accounting principle for goodwill, net of $24 tax

 

—

 

(40

)

Cumulative effect of change in accounting principle for vendor allowances, net of $26 tax

 

—

 

(42

)

Net earnings (loss)

 

$

62

 

$

(271

)

Basic earnings (loss) per share:

 

 

 

 

 

Continuing operations

 

$

0.24

 

$

0.49

 

Discontinued operations

 

(0.05

)

(1.08

)

Cumulative effect of accounting changes

 

—

 

(0.25

)

Basic earnings (loss) per share

 

$

0.19

 

$

(0.85

)

Diluted earnings (loss) per share:

 

 

 

 

 

Continuing operations

 

$

0.24

 

$

0.48

 

Discontinued operations

 

(0.05

)

(1.07

)

Cumulative effect of accounting changes

 

—

 

(0.25

)

Diluted earnings (loss) per share

 

$

0.19

 

$

(0.83

)

Basic weighted average common shares outstanding (in millions)

 

321.3

 

320.7

 

Diluted weighted average common shares outstanding (in millions)

 

324.5

 

325.4

 

*Note: This presentation reflects: (a) the classification of Musicland as discontinued operations; and (b) the adoption of the accounting principle established in EITF Issue No. 02-16, Accounting by a Reseller for Cash Consideration Received from a Vendor, in each case, as if such changes were in effect as of and for the dates indicated.