Best Buy (BBY) 10-Q 3 Dec 21 2022 Q3 Quarterly report Financial data

Document Information Statement

Document Information Statement - shares	9 Months Ended
	Oct. 30, 2021	Dec. 01, 2021
Document Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Oct. 30, 2021
Document Fiscal Year Focus	2021
Current Fiscal Year End Date	--01-29
Document Transition Report	false
Entity File Number	1-9595
Entity Registrant Name	BEST BUY CO., INC.
Entity Incorporation, State or Country Code	MN
Entity Address, Address Line One	7601 Penn Avenue South
Entity Address, City or Town	Richfield
Entity Address, State or Province	MN
Entity Tax Identification Number	41-0907483
Entity Address, Postal Zip Code	55423
City Area Code	612
Local Phone Number	291-1000
Title of 12(b) Security	Common Stock, $0.10 par value per share
Trading Symbol	BBY
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		240,560,898
Document Fiscal Period Focus	Q3
Entity Central Index Key	0000764478
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Oct. 30, 2021	Jan. 30, 2021	Oct. 31, 2020
Current assets
Cash and cash equivalents	$ 3,465	$ 5,494	$ 5,136
Short-term investments			545
Receivables, net	1,016	1,061	1,028
Merchandise inventories	8,553	5,612	7,459
Other current assets	486	373	383
Total current assets	13,520	12,540	14,551
Property and equipment, net	2,256	2,260	2,265
Operating lease assets	2,688	2,612	2,692
Goodwill	986	986	986
Other assets	652	669	708
Total assets	20,102	19,067	21,202
Current liabilities
Accounts payable	8,405	6,979	9,110
Accrued compensation and related expenses	703	725	446
Accrued liabilities	895	972	968
Short-term debt		110
Current portion of operating lease liabilities	645	693	685
Current portion of long-term debt	15	14	670
Total current liabilities	11,946	10,521	12,945
Long-term operating lease liabilities	2,102	2,012	2,117
Long-term debt	1,223	1,253	1,256
Long-term liabilities	553	694	798
Contingencies (Note 11)
Equity
Preferred stock, $1.00 par value: Authorized - 400,000 shares; Issued and outstanding - none
Common stock, $0.10 par value: Authorized - 1.0 billion shares; Issued and outstanding - 243.8 million, 256.9 million and 258.8 million shares, respectively	24	26	26
Additional paid-in capital			133
Retained earnings	3,917	4,233	3,659
Accumulated other comprehensive income	337	328	268
Total equity	4,278	4,587	4,086
Total liabilities and equity	20,102	19,067	21,202
Gift Card [Member]
Current liabilities
Short-term contract liabilities	306	317	278
Deferred Revenue [Member]
Current liabilities
Short-term contract liabilities	$ 977	$ 711	$ 788

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Oct. 30, 2021	Jan. 30, 2021	Oct. 31, 2020
Condensed Consolidated Balance Sheets [Abstract]
Preferred stock, par value (in dollars per share)	$ 1	$ 1	$ 1
Preferred stock, authorized shares	400,000	400,000	400,000
Preferred stock, issued shares	0	0	0
Preferred stock, outstanding shares	0	0	0
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10	$ 0.10
Common stock, authorized shares	1,000,000,000	1,000,000,000	1,000,000,000
Common stock, issued shares	243,800,000	256,900,000	258,800,000
Common stock, outstanding shares	243,800,000	256,900,000	258,800,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Earnings - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Oct. 30, 2021	Oct. 31, 2020	Oct. 30, 2021	Oct. 31, 2020
Condensed Consolidated Statements of Earnings [Abstract]
Revenue	$ 11,910	$ 11,853	$ 35,396	$ 30,325
Cost of sales	9,108	9,058	27,069	23,295
Gross profit	2,802	2,795	8,327	7,030
Selling, general and administrative expenses	2,133	2,123	6,130	5,560
Restructuring charges	(1)	111	(39)	112
Operating income	670	561	2,236	1,358
Other income (expense):
Investment income and other	1	5	7	19
Interest expense	(7)	(11)	(19)	(43)
Earnings before income tax expense and equity in income of affiliates	664	555	2,224	1,334
Income tax expense	166	164	402	352
Equity in income of affiliates	1		6
Net earnings	$ 499	$ 391	$ 1,828	$ 982
Basic earnings per share	$ 2.02	$ 1.50	$ 7.31	$ 3.79
Diluted earnings per share	$ 2	$ 1.48	$ 7.23	$ 3.74
Weighted-average common shares outstanding
Basic	246.4	259.8	249.9	259.3
Diluted	249.1	263.7	252.9	262.5

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 30, 2021	Oct. 31, 2020	Oct. 30, 2021	Oct. 31, 2020
Condensed Consolidated Statements of Comprehensive Income [Abstract]
Net earnings	$ 499	$ 391	$ 1,828	$ 982
Foreign currency translation adjustments, net of tax	2	10	9	(25)
Cash flow hedges		2		(2)
Comprehensive income	$ 501	$ 403	$ 1,837	$ 955

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Oct. 30, 2021	Oct. 31, 2020
Operating activities
Net earnings	$ 1,828	$ 982
Adjustments to reconcile net earnings to total cash provided by operating activities:
Depreciation and amortization	644	628
Restructuring charges	(39)	112
Stock-based compensation	105	107
Deferred income taxes	(16)	19
Other, net	3	10
Changes in operating assets and liabilities:
Receivables	43	106
Merchandise inventories	(2,924)	(2,300)
Other assets	(12)	(60)
Accounts payable	1,387	3,824
Income taxes	(172)	121
Other liabilities	214	358
Total cash provided by operating activities	1,061	3,907
Investing activities
Additions to property and equipment	(548)	(534)
Purchases of investments	(221)	(620)
Sales of investments	64
Other, net	(2)	1
Total cash used in investing activities	(707)	(1,153)
Financing activities
Repurchase of common stock	(1,728)	(62)
Issuance of common stock	28	28
Dividends paid	(522)	(426)
Borrowings of debt		1,892
Repayments of debt	(123)	(1,261)
Other, net	(2)	(1)
Total cash provided by (used in) financing activities	(2,347)	170
Effect of exchange rate changes on cash and cash equivalents	6	(8)
Increase (decrease) in cash, cash equivalents and restricted cash	(1,987)	2,916
Cash, cash equivalents and restricted cash at beginning of period	5,625	2,355
Cash, cash equivalents and restricted cash at end of period	$ 3,638	$ 5,271

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Shareholders' Equity - USD ($) shares in Millions, $ in Millions	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Total
Balances at Feb. 01, 2020	$ 26		$ 3,158	$ 295	$ 3,479
Balances (in shares) at Feb. 01, 2020	256.5
Net earnings			982		982
Other comprehensive income (loss):
Foreign currency translation adjustments, net of tax				(25)	(25)
Cash flow hedges				(2)	(2)
Stock-based compensation		$ 106			106
Issuance of common stock		28			28
Issuance of common stock (in shares)	2.9
Common stock dividends		7	(433)		(426)
Repurchase of common stock		(8)	(48)		(56)
Repurchase of common stock (in shares)	(0.6)
Balances at Oct. 31, 2020	$ 26	133	3,659	268	4,086
Balances (in shares) at Oct. 31, 2020	258.8
Balances at Aug. 01, 2020	$ 26	83	3,413	256	3,778
Balances (in shares) at Aug. 01, 2020	258.8
Net earnings			391		391
Other comprehensive income (loss):
Foreign currency translation adjustments, net of tax				10	10
Cash flow hedges				2	2
Stock-based compensation		41			41
Issuance of common stock		6			6
Common stock dividends		3	(145)		(142)
Balances at Oct. 31, 2020	$ 26	133	3,659	268	4,086
Balances (in shares) at Oct. 31, 2020	258.8
Balances at Jan. 30, 2021	$ 26		4,233	328	4,587
Balances (in shares) at Jan. 30, 2021	256.9
Net earnings			1,828		1,828
Other comprehensive income (loss):
Foreign currency translation adjustments, net of tax				9	9
Stock-based compensation		105			105
Issuance of common stock		28			28
Issuance of common stock (in shares)	2.7
Common stock dividends		11	(533)		(522)
Repurchase of common stock	$ (2)	(144)	(1,611)		(1,757)
Repurchase of common stock (in shares)	(15.8)
Balances at Oct. 30, 2021	$ 24		3,917	337	4,278
Balances (in shares) at Oct. 30, 2021	243.8
Balances at Jul. 31, 2021	$ 25		3,975	335	4,335
Balances (in shares) at Jul. 31, 2021	247.3
Net earnings			499		499
Other comprehensive income (loss):
Foreign currency translation adjustments, net of tax				2	2
Stock-based compensation		34			34
Issuance of common stock		6			6
Issuance of common stock (in shares)	0.2
Common stock dividends		3	(175)		(172)
Repurchase of common stock	$ (1)	$ (43)	(382)		(426)
Repurchase of common stock (in shares)	(3.7)
Balances at Oct. 30, 2021	$ 24		$ 3,917	$ 337	$ 4,278
Balances (in shares) at Oct. 30, 2021	243.8

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Oct. 30, 2021	Oct. 31, 2020	Oct. 30, 2021	Oct. 31, 2020
Condensed Consolidated Statements of Changes in Shareholders' Equity [Abstract]
Common Stock, Dividends, Per Share, Declared	$ 0.70	$ 0.55	$ 2.10	$ 1.65

Basis of Presentation

Basis of Presentation	9 Months Ended
	Oct. 30, 2021
Basis of Presentation [Abstract]
Basis of Presentation	1. Basis of Presentation Unless the context otherwise requires, the use of the terms “Best Buy,” “we,” “us” and “our” in these Notes to Condensed Consolidated Financial Statements refers to Best Buy Co., Inc. and, as applicable, its consolidated subsidiaries. In the opinion of management, the accompanying condensed consolidated financial statements contain all adjustments necessary for a fair presentation as prescribed by accounting principles generally accepted in the United States (“GAAP”). All adjustments were comprised of normal recurring adjustments, except as noted in these Notes to Condensed Consolidated Financial Statements. During the third quarter of fiscal 2021, we made the decision to exit our operations in Mexico. All stores in Mexico were closed as of the end of the first quarter of fiscal 2022, and our International segment is now comprised of operations in Canada. Refer to Note 2, Restructuring, for additional information. In order to align our fiscal reporting periods and comply with statutory filing requirements, we consolidate the financial results of our Mexico operations on a one-month lag. Our policy is to accelerate recording the effect of events occurring in the lag period that significantly affect our condensed consolidated financial statements. No such events were identified for the reported periods. Historically, we have generated a large proportion of our revenue and earnings in the fiscal fourth quarter, which includes the majority of the holiday shopping season in the U.S., Canada and Mexico. Due to the seasonal nature of our business, interim results are not necessarily indicative of results for the entire fiscal year. The interim financial statements and the related notes included in this Quarterly Report on Form 10-Q should be read in conjunction with the consolidated financial statements and related notes included in our Annual Report on Form 10-K for the fiscal year ended January 30, 2021. The first nine months of fiscal 2022 and fiscal 2021 included 39 weeks. In preparing the accompanying condensed consolidated financial statements, we evaluated the period from October 30, 2021, through the date the financial statements were issued for material subsequent events requiring recognition or disclosure. Other than the acquisitions described in Note 13, Subsequent Events, no such events were identified for the reported periods. Total Cash, Cash Equivalents and Restricted Cash Cash, cash equivalents and restricted cash reported on our Condensed Consolidated Balance Sheets are reconciled to the total shown on our Condensed Consolidated Statements of Cash Flows as follows ($ in millions): October 30, 2021 January 30, 2021 October 31, 2020Cash and cash equivalents$ 3,465  $ 5,494  $ 5,136  Restricted cash included in Other current assets 173  131  135  Total cash, cash equivalents and restricted cash$ 3,638  $ 5,625  $ 5,271  Amounts included in restricted cash are primarily restricted to use for workers’ compensation and general liability insurance claims, and product protection plans provided under our Best Buy TotaltechTM membership offering.

Restructuring

Restructuring	9 Months Ended
	Oct. 30, 2021
Restructuring [Abstract]
Restructuring	2. Restructuring Restructuring charges were as follows ($ in millions): Three Months Ended Nine Months Ended October 30, 2021 October 31, 2020 October 30, 2021 October 31, 2020Mexico Exit and Strategic Realignment(1) $ (1) $ 148  $ (45) $ 148  Fiscal 2020 U.S. Retail Operating Model Changes - (1) - - Total $ (1) $ 147  $ (45) $ 148  (1)Includes inventory markdowns recorded in Cost of sales on our Condensed Consolidated Statements of Earnings of ($6) million for the nine months ended October 30, 2021, and $36 million for the three and nine months ended October 31, 2020. Mexico Exit and Strategic Realignment In March 2020 the World Health Organization declared the outbreak of novel coronavirus disease (“COVID-19”) as a pandemic. The COVID-19 pandemic has had significant impacts on, for example, the economic conditions of the markets in which we operate, customer shopping behaviors, the role of technology in peoples’ lives and the way we meet their needs. In light of these changes, we are adapting our Building the New Blue Strategy to ensure that our focus and resources are closely aligned with the opportunities we see in front of us. As a result, in the third quarter of fiscal 2021, we made the decision to exit our operations in Mexico and began taking other actions to more broadly align our organizational structure in support of our strategy. Charges incurred in our International segment primarily related to our decision to exit our operations in Mexico. All remaining stores in Mexico were closed in the first quarter of fiscal 2022 and we do not expect to incur material future restructuring charges related to the exit. Charges incurred in our Domestic segment primarily related to actions taken to align our organizational structure in support of our strategy. During the nine months ended October 30, 2021, we recorded a $44 million credit primarily due to a reduction in expected termination benefits resulting from adjustments to previously planned organizational changes and higher-than-expected employee retention. As we continue to evolve our Building the New Blue Strategy, it is possible that we will incur material future restructuring costs, but we are unable to forecast the timing and magnitude of such costs. All charges incurred related to the exit from Mexico and strategic realignment described above were from continuing operations and were presented as follows ($ in millions): Statement ofThree Months Ended October 30, 2021 Nine Months Ended October 30, 2021 Earnings LocationDomestic International Total Domestic International TotalInventory markdownsCost of sales$ - $ - $ - $ - $ (6) $ (6) Asset impairmentsRestructuring charges - (1) (1) - 6  6  Termination benefitsRestructuring charges - - - (44) (1) (45) $ - $ (1) $ (1) $ (44) $ (1) $ (45) Statement ofThree and Nine Months Ended October 31, 2020 Earnings LocationDomestic International TotalInventory markdownsCost of sales$ - $ 36  $ 36  Asset impairmentsRestructuring charges 10  48  58  Termination benefitsRestructuring charges 36  18  54  $ 46  $ 102  $ 148  Statement ofCumulative Amount as of October 30, 2021 Earnings LocationDomestic International TotalInventory markdownsCost of sales$ - $ 17  $ 17  Asset impairments(1)Restructuring charges 10  63  73  Termination benefitsRestructuring charges 79  19  98  Currency translation adjustmentRestructuring charges - 39  39  Other(2)Restructuring charges - 5  5  $ 89  $ 143  $ 232  (1)Remaining net carrying value approximates fair value and was immaterial as of October 30, 2021.(2)Other charges are primarily comprised of contract termination costs. Restructuring accrual activity related to the exit from Mexico and strategic realignment described above was as follows ($ in millions): Termination Benefits Domestic International TotalBalances at February 1, 2020$ - $ - $ - Charges 36  18  54  Cash payments (7) - (7) Balances at October 31, 2020$ 29  $ 18  $ 47  Balances at January 30, 2021$ 104  $ 20  $ 124  Cash payments (54) (17) (71) Adjustments(1) (44) (1) (45) Changes in foreign currency exchange rates - (1) (1) Balances at October 30, 2021$ 6  $ 1  $ 7  (1)Represents adjustments to previously planned organizational changes in our Domestic segment and higher-than-expected employee retention in both our Domestic and International segments. Fiscal 2020 U.S. Retail Operating Model Changes In the second quarter of fiscal 2020, we made changes primarily related to our U.S. retail operating model to increase organization effectiveness and create a more seamless customer experience across all channels. All charges incurred were related to termination benefits within our Domestic segment and were presented within Restructuring charges from continuing operations on our Condensed Consolidated Statements of Earnings. As of October 30, 2021, the cumulative amount of charges incurred was $41 million and no material liability remains.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Oct. 30, 2021
Goodwill and Intangible Assets [Abstract]
Goodwill and Intangible Assets	3. Goodwill and Intangible Assets Goodwill Balances related to goodwill remained unchanged as of October 30, 2021, January 30, 2021, and October 31, 2020, as follows ($ in millions): Gross Carrying Amount Cumulative ImpairmentDomestic$ 1,053  $ (67) International 608  (608) Total$ 1,661  $ (675) No impairment charges were recorded during the fiscal periods presented. Definite-Lived Intangible Assets We have definite-lived intangible assets recorded within Other assets on our Condensed Consolidated Balance Sheets as follows ($ in millions): October 30, 2021 January 30, 2021 October 31, 2020 Weighted-Average Gross Carrying ‎Amount Accumulated ‎Amortization Gross Carrying ‎Amount Accumulated ‎Amortization Gross Carrying ‎Amount Accumulated ‎Amortization Useful Life Remaining as of October 30, 2021 (in years)Customer relationships$ 339  $ 165  $ 339  $ 124  $ 339  $ 111  6.5 Tradenames 81  34  81  24  81  20  4.3 Developed technology 56  36  56  27  56  24  1.9 Total$ 476  $ 235  $ 476  $ 175  $ 476  $ 155  5.7 Amortization expense was as follows ($ in millions): Statement of Three Months Ended Nine Months Ended Earnings Location October 30, 2021 October 31, 2020 October 30, 2021 October 31, 2020Amortization expenseSG&A $ 20  $ 20  $ 60  $ 60  Amortization expense expected to be recognized in future periods is as follows ($ in millions): Amortization ExpenseRemainder of fiscal 2022 $ 20  Fiscal 2023 79  Fiscal 2024 54  Fiscal 2025 16  Fiscal 2026 16  Fiscal 2027 13  Thereafter 43

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Oct. 30, 2021
Fair Value Measurements [Abstract]
Fair Value Measurements	4. Fair Value Measurements Fair value measurements are reported in one of three levels based on the lowest level of significant input used: Level 1 (unadjusted quoted prices in active markets); Level 2 (observable market inputs, other than quoted prices included in Level 1); and Level 3 (unobservable inputs that cannot be corroborated by observable market data). Recurring Fair Value Measurements Financial assets and liabilities accounted for at fair value were as follows ($ in millions): Fair Value at Balance Sheet Location(1)Fair Value Hierarchy October 30, 2021 January 30, 2021 October 31, 2020Assets Money market funds(2) Cash and cash equivalentsLevel 1 $ 313  $ 1,575  $ 4,119  Time deposits(3) Cash and cash equivalentsLevel 2 625  865  84  Time deposits(3) Short-term investments Level 2 - - 545  Time deposits(3) Other current assets Level 2 - 65  100  Interest rate swap derivative instruments(4) Other current assets Level 2 - - 7  Interest rate swap derivative instruments(4) Other assets Level 2 58  91  95  Marketable securities that fund deferred compensation(5)Other assets Level 1 54  53  51  (1)Balance sheet location is determined by length to maturity.(2)Valued at quoted market prices in active markets.(3)Valued at face value plus accrued interest, which approximates fair value.(4)Valued using readily observable market inputs. These instruments are custom, over-the-counter contracts with various bank counterparties that are not traded on an active market. See Note 5, Derivative Instruments, for additional information.(5)Valued using select mutual fund performance that trade with sufficient frequency and volume to obtain pricing information on an ongoing basis. Fair Value of Financial Instruments The fair values of cash, receivables, accounts payable and other payables approximated their carrying values because of the short-term nature of these instruments. If these instruments were measured at fair value in the financial statements, they would be classified as Level 1 in the fair value hierarchy. Fair values for other investments held at cost are not readily available, but we estimate that the carrying values for these investments approximate their fair values. Long-term debt is presented at carrying value on our Condensed Consolidated Balance Sheets. If our long-term debt were recorded at fair value, it would be classified as Level 2 in the fair value hierarchy. Long-term debt balances were as follows ($ in millions): October 30, 2021 January 30, 2021 October 31, 2020 Fair Value Carrying Value Fair Value Carrying Value Fair Value Carrying ValueLong-term debt(1)$ 1,257 $ 1,208 $ 1,331  $ 1,241  $ 1,954 $ 1,902 (1)Excludes debt discounts, issuance costs and finance lease obligations.

Derivative Instruments

Derivative Instruments	9 Months Ended
	Oct. 30, 2021
Derivative Instruments [Abstract]
Derivative Instruments	5. Derivative Instruments We manage our economic and transaction exposure to certain risks by using foreign exchange forward contracts to hedge against the effect of Canadian dollar exchange rate fluctuations on a portion of our net investment in our Canadian operations. We also use interest rate swaps to mitigate the effect of interest rate fluctuations on our $650 million principal amount of notes due March 15, 2021 (“2021 Notes”), prior to their retirement in December 2020, and on our $500 million principal amount of notes due October 1, 2028 (“2028 Notes”). In addition, we use foreign currency forward contracts not designated as hedging instruments to manage the impact of fluctuations in foreign currency exchange rates relative to recognized receivable and payable balances denominated in non-functional currencies. Our derivative instruments designated as net investment hedges and interest rate swaps are recorded on our Condensed Consolidated Balance Sheets at fair value. See Note 4, Fair Value Measurements, for gross fair values of our outstanding derivative instruments and corresponding fair value classifications. Notional amounts of our derivative instruments were as follows ($ in millions): Contract Type October 30, 2021 January 30, 2021 October 31, 2020Derivatives designated as net investment hedges $ 125  $ 153  $ 68  Derivatives designated as interest rate swaps 500  500  1,150  No hedge designation (foreign exchange contracts) 106  51  81  Total $ 731  $ 704  $ 1,299  Effects of our derivatives on our Condensed Consolidated Statements of Earnings were as follows ($ in millions): Gain (Loss) Recognized Three Months Ended Nine Months Ended Statement of Earnings LocationOctober 30, 2021 October 31, 2020 October 30, 2021 October 31, 2020Interest rate swap contractsInterest expense$ (21) $ (32) $ (33) $ 13  Adjustments to carrying value of long-term debtInterest expense 21  32  33  (13) Total $ - $ - $ - $ -

Debt

Debt	9 Months Ended
	Oct. 30, 2021
Debt [Abstract]
Debt	6. Debt Short-Term Debt U.S. Revolving Credit Facility On May 18, 2021, we entered into a $1.25 billion five year senior unsecured revolving credit facility agreement (the “Five-Year Facility Agreement”) with a syndicate of banks. The Five-Year Facility Agreement replaced the previous $1.25 billion senior unsecured revolving credit facility (the “Previous Facility”) with a syndicate of banks, which was originally scheduled to expire in April 2023, but was terminated on May 18, 2021. The Five-Year Facility Agreement permits borrowings of up to $1.25 billion and expires in May 2026. There were no borrowings outstanding under the Five-Year Facility Agreement as of October 30, 2021, or the Previous Facility as of January 30, 2021, and October 31, 2020. Bank Advance In conjunction with a solar energy investment, we were advanced $110 million due October 31, 2021. The advance was recorded within Short-term debt on our Condensed Consolidated Balance Sheets as of January 30, 2021, and bore interest at 0.14%. This advance was repaid on October 29, 2021. Long-Term Debt Long-term debt consisted of the following ($ in millions): October 30, 2021 January 30, 2021 October 31, 20202021 Notes $ - $ - $ 650  2028 Notes 500  500  500  2030 Notes 650  650  650  Interest rate swap valuation adjustments 58  91  102  Subtotal 1,208  1,241  1,902  Debt discounts and issuance costs (11) (12) (13) Finance lease obligations 41  38  37  Total long-term debt 1,238  1,267  1,926  Less current portion 15  14  670  Total long-term debt, less current portion $ 1,223  $ 1,253  $ 1,256  See Note 4, Fair Value Measurements, for the fair value of long-term debt.

Revenue

Revenue	9 Months Ended
	Oct. 30, 2021
Revenue [Abstract]
Revenue	7. Revenue We generate substantially all of our revenue from contracts with customers for the sale of products and services. Contract balances primarily consist of receivables and liabilities related to product merchandise not yet delivered to customers, unredeemed gift cards, services not yet completed and options that provide a material right to customers, such as our customer loyalty programs. Contract balances were as follows ($ in millions): October 30, 2021 January 30, 2021 October 31, 2020Receivables, net(1)$ 638  $ 618  $ 625  Short-term contract liabilities included in: Unredeemed gift card liabilities 306  317  278  Deferred revenue 977  711  788  Accrued liabilities 88  71  71  (1)Receivables are recorded net of allowances for doubtful accounts of $24 million, $32 million and $30 million as of October 30, 2021, January 30, 2021, and October 31, 2020, respectively. During the first nine months of fiscal 2022 and fiscal 2021, $1,001 million and $792 million of revenue was recognized, respectively, that was included in the contract liabilities at the beginning of the respective periods. See Note 12, Segments, for information on our revenue by reportable segment and product category.

Earnings per Share

Earnings per Share	9 Months Ended
	Oct. 30, 2021
Earnings per Share [Abstract]
Earnings per Share	8. Earnings per Share We compute our basic earnings per share based on the weighted-average number of common shares outstanding and our diluted earnings per share based on the weighted-average number of common shares outstanding adjusted by the number of additional shares that would have been outstanding had potentially dilutive common shares been issued. Reconciliations of the numerators and denominators of basic and diluted earnings per share were as follows ($ and shares in millions, except per share amounts): Three Months Ended Nine Months Ended October 30, 2021 October 31, 2020 October 30, 2021 October 31, 2020Numerator Net earnings$ 499  $ 391  $ 1,828  $ 982  Denominator Weighted-average common shares outstanding 246.4  259.8  249.9  259.3  Dilutive effect of stock compensation plan awards 2.7  3.9  3.0  3.2  Weighted-average common shares outstanding, assuming dilution 249.1  263.7  252.9  262.5  Basic earnings per share$ 2.02  $ 1.50  $ 7.31  $ 3.79  Diluted earnings per share$ 2.00  $ 1.48  $ 7.23  $ 3.74

Repurchase of Common Stock

Repurchase of Common Stock	9 Months Ended
	Oct. 30, 2021
Shareholders' Equity [Abstract]
Shareholders' Equity	9. Repurchase of Common Stock On February 16, 2021, our Board of Directors approved a new $5.0 billion share repurchase program. There is no expiration date governing the period over which we can repurchase shares under this authorization. We temporarily suspended all share repurchases from March to November of fiscal 2021 to conserve liquidity in light of COVID-19-related uncertainties. On August 24, 2021, we announced our plan to repurchase more than $2.5 billion of shares in fiscal 2022. Information regarding the shares we repurchased was as follows ($ and shares in millions, except per share amounts): Three Months Ended Nine Months Ended October 30, 2021 October 31, 2020 October 30, 2021 October 31, 2020Total cost of shares repurchased$ 426  $ - $ 1,757 $ 56 Average price per share$ 115.94  $ - $ 111.33 $ 86.30 Number of shares repurchased 3.7  - 15.8 0.6 As of October 30, 2021, $3.4 billion of the $5.0 billion share repurchase authorization was available. Between the end of the third quarter of fiscal 2022 on October 30, 2021, and December 1, 2021, we repurchased an incremental 3.6 million shares of our common stock at a cost of $452 million.

Income Taxes

Income Taxes	9 Months Ended
	Oct. 30, 2021
Income Taxes [Abstract]
Income Taxes	10. Income Taxes Unrecognized Tax Benefits Our income tax returns are routinely examined by domestic and foreign tax authorities. During the second quarter of fiscal 2022, we reduced our unrecognized tax benefits by $101 million relating to multi-jurisdiction, multi-year non-cash benefits from the resolution of certain discrete tax matters, all of which resulted in a tax benefit in the second quarter.

Contingencies

Contingencies	9 Months Ended
	Oct. 30, 2021
Contingencies [Abstract]
Contingencies	11. Contingencies We are involved in a number of legal proceedings. Where appropriate, we have made accruals with respect to these matters, which are reflected on our Condensed Consolidated Financial Statements. However, there are cases where liability is not probable or the amount cannot be reasonably estimated and, therefore, accruals have not been made. We provide disclosure of matters where we believe it is reasonably possible the impact may be material to our Condensed Consolidated Financial Statements.

Segments

Segments	9 Months Ended
	Oct. 30, 2021
Segments [Abstract]
Segments	12. Segments Reportable segment and product category revenue information was as follows ($ in millions): Three Months Ended Nine Months Ended October 30, 2021 October 31, 2020 October 30, 2021 October 31, 2020Revenue by reportable segment Domestic $ 10,985  $ 10,850  $ 32,837  $ 27,893  International 925  1,003  2,559  2,432  Total revenue $ 11,910  $ 11,853  $ 35,396  $ 30,325  Revenue by product category Domestic: Computing and Mobile Phones $ 4,901  $ 5,059  $ 14,460  $ 13,130  Consumer Electronics 3,346  3,197  9,964  8,090  Appliances 1,628  1,478  4,864  3,703  Entertainment 527  509  1,755  1,430  Services 541  578  1,667  1,461  Other 42  29  127  79  Total Domestic revenue $ 10,985  $ 10,850  $ 32,837  $ 27,893  International: Computing and Mobile Phones $ 462  $ 531  $ 1,230  $ 1,211  Consumer Electronics 253  265  720  663  Appliances 87  93  260  243  Entertainment 54  50  176  156  Services 54  51  128  119  Other 15  13  45  40  Total International revenue $ 925  $ 1,003  $ 2,559  $ 2,432  Operating income (loss) by reportable segment and the reconciliation to consolidated earnings before income tax expense and equity in income of affiliates was as follows ($ in millions): Three Months Ended Nine Months Ended October 30, 2021 October 31, 2020 October 30, 2021 October 31, 2020Domestic $ 609  $ 612  $ 2,100  $ 1,377  International 61  (51) 136  (19) Total operating income 670  561  2,236  1,358  Other income (expense): Investment income and other 1  5  7  19  Interest expense (7) (11) (19) (43) Earnings before income tax expense and equity in income of affiliates$ 664  $ 555  $ 2,224  $ 1,334  Assets by reportable segment were as follows ($ in millions): October 30, 2021 January 30, 2021 October 31, 2020Domestic$ 18,518  $ 17,625  $ 19,525  International 1,584  1,442  1,677  Total assets$ 20,102  $ 19,067  $ 21,202

Subsequent Events

Subsequent Events	9 Months Ended
	Oct. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	13. Subsequent Events On October 10, 2021, we signed a definitive agreement to acquire Current Health Ltd. (“Current Health”), a care-at-home technology platform that brings together remote patient monitoring, telehealth and patient engagement into a single solution for healthcare organizations, for approximately $400 million. The acquisition was completed on November 2, 2021, and will be included in our consolidated results beginning in the fourth quarter of fiscal 2022. On October 18, 2021, we signed a definitive agreement to acquire Two Peaks, LLC d/b/a Yardbird Furniture (“Yardbird”), an outdoor furniture company, for approximately $85 million. The acquisition was completed on November 4, 2021, and will be included in our consolidated results beginning in the fourth quarter of fiscal 2022.

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Oct. 30, 2021
Basis of Presentation [Abstract]
Basis of Presentation	Unless the context otherwise requires, the use of the terms “Best Buy,” “we,” “us” and “our” in these Notes to Condensed Consolidated Financial Statements refers to Best Buy Co., Inc. and, as applicable, its consolidated subsidiaries. In the opinion of management, the accompanying condensed consolidated financial statements contain all adjustments necessary for a fair presentation as prescribed by accounting principles generally accepted in the United States (“GAAP”). All adjustments were comprised of normal recurring adjustments, except as noted in these Notes to Condensed Consolidated Financial Statements. During the third quarter of fiscal 2021, we made the decision to exit our operations in Mexico. All stores in Mexico were closed as of the end of the first quarter of fiscal 2022, and our International segment is now comprised of operations in Canada. Refer to Note 2, Restructuring, for additional information. In order to align our fiscal reporting periods and comply with statutory filing requirements, we consolidate the financial results of our Mexico operations on a one-month lag. Our policy is to accelerate recording the effect of events occurring in the lag period that significantly affect our condensed consolidated financial statements. No such events were identified for the reported periods. Historically, we have generated a large proportion of our revenue and earnings in the fiscal fourth quarter, which includes the majority of the holiday shopping season in the U.S., Canada and Mexico. Due to the seasonal nature of our business, interim results are not necessarily indicative of results for the entire fiscal year. The interim financial statements and the related notes included in this Quarterly Report on Form 10-Q should be read in conjunction with the consolidated financial statements and related notes included in our Annual Report on Form 10-K for the fiscal year ended January 30, 2021. The first nine months of fiscal 2022 and fiscal 2021 included 39 weeks. In preparing the accompanying condensed consolidated financial statements, we evaluated the period from October 30, 2021, through the date the financial statements were issued for material subsequent events requiring recognition or disclosure. Other than the acquisitions described in Note 13, Subsequent Events, no such events were identified for the reported periods.
Total Cash, Cash Equivalents and Restricted Cash	Total Cash, Cash Equivalents and Restricted Cash Cash, cash equivalents and restricted cash reported on our Condensed Consolidated Balance Sheets are reconciled to the total shown on our Condensed Consolidated Statements of Cash Flows as follows ($ in millions): October 30, 2021 January 30, 2021 October 31, 2020Cash and cash equivalents$ 3,465  $ 5,494  $ 5,136  Restricted cash included in Other current assets 173  131  135  Total cash, cash equivalents and restricted cash$ 3,638  $ 5,625  $ 5,271  Amounts included in restricted cash are primarily restricted to use for workers’ compensation and general liability insurance claims, and product protection plans provided under our Best Buy TotaltechTM membership offering.

Basis of Presentation (Tables)

Basis of Presentation (Tables)	9 Months Ended
	Oct. 30, 2021
Basis of Presentation [Abstract]
Total Cash, Cash Equivalents and Restricted Cash	October 30, 2021 January 30, 2021 October 31, 2020Cash and cash equivalents$ 3,465  $ 5,494  $ 5,136  Restricted cash included in Other current assets 173  131  135  Total cash, cash equivalents and restricted cash$ 3,638  $ 5,625  $ 5,271

Restructuring (Tables)

Restructuring (Tables)	9 Months Ended
	Oct. 30, 2021
Restructuring Cost and Reserve [Line Items]
Composition of Restructuring Charges	Three Months Ended Nine Months Ended October 30, 2021 October 31, 2020 October 30, 2021 October 31, 2020Mexico Exit and Strategic Realignment(1) $ (1) $ 148  $ (45) $ 148  Fiscal 2020 U.S. Retail Operating Model Changes - (1) - - Total $ (1) $ 147  $ (45) $ 148  (1)Includes inventory markdowns recorded in Cost of sales on our Condensed Consolidated Statements of Earnings of ($6) million for the nine months ended October 30, 2021, and $36 million for the three and nine months ended October 31, 2020.
Mexico Exit And Strategic Realignment [Member]
Restructuring Cost and Reserve [Line Items]
Composition of Restructuring Charges	Statement ofThree Months Ended October 30, 2021 Nine Months Ended October 30, 2021 Earnings LocationDomestic International Total Domestic International TotalInventory markdownsCost of sales$ - $ - $ - $ - $ (6) $ (6) Asset impairmentsRestructuring charges - (1) (1) - 6  6  Termination benefitsRestructuring charges - - - (44) (1) (45) $ - $ (1) $ (1) $ (44) $ (1) $ (45) Statement ofThree and Nine Months Ended October 31, 2020 Earnings LocationDomestic International TotalInventory markdownsCost of sales$ - $ 36  $ 36  Asset impairmentsRestructuring charges 10  48  58  Termination benefitsRestructuring charges 36  18  54  $ 46  $ 102  $ 148  Statement ofCumulative Amount as of October 30, 2021 Earnings LocationDomestic International TotalInventory markdownsCost of sales$ - $ 17  $ 17  Asset impairments(1)Restructuring charges 10  63  73  Termination benefitsRestructuring charges 79  19  98  Currency translation adjustmentRestructuring charges - 39  39  Other(2)Restructuring charges - 5  5  $ 89  $ 143  $ 232  (1)Remaining net carrying value approximates fair value and was immaterial as of October 30, 2021.(2)Other charges are primarily comprised of contract termination costs.
Restructuring Accrual Activity	Termination Benefits Domestic International TotalBalances at February 1, 2020$ - $ - $ - Charges 36  18  54  Cash payments (7) - (7) Balances at October 31, 2020$ 29  $ 18  $ 47  Balances at January 30, 2021$ 104  $ 20  $ 124  Cash payments (54) (17) (71) Adjustments(1) (44) (1) (45) Changes in foreign currency exchange rates - (1) (1) Balances at October 30, 2021$ 6  $ 1  $ 7  (1)Represents adjustments to previously planned organizational changes in our Domestic segment and higher-than-expected employee retention in both our Domestic and International segments.

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Oct. 30, 2021
Goodwill and Intangible Assets [Abstract]
Gross Carrying Amount of Goodwill and Cumulative Goodwill Impairment	Gross Carrying Amount Cumulative ImpairmentDomestic$ 1,053  $ (67) International 608  (608) Total$ 1,661  $ (675)
Definite-Lived Intangible Assets	October 30, 2021 January 30, 2021 October 31, 2020 Weighted-Average Gross Carrying ‎Amount Accumulated ‎Amortization Gross Carrying ‎Amount Accumulated ‎Amortization Gross Carrying ‎Amount Accumulated ‎Amortization Useful Life Remaining as of October 30, 2021 (in years)Customer relationships$ 339  $ 165  $ 339  $ 124  $ 339  $ 111  6.5 Tradenames 81  34  81  24  81  20  4.3 Developed technology 56  36  56  27  56  24  1.9 Total$ 476  $ 235  $ 476  $ 175  $ 476  $ 155  5.7
Amortization Expense	Statement of Three Months Ended Nine Months Ended Earnings Location October 30, 2021 October 31, 2020 October 30, 2021 October 31, 2020Amortization expenseSG&A $ 20  $ 20  $ 60  $ 60
Amortization Expense Expected to be Recognized	Amortization ExpenseRemainder of fiscal 2022 $ 20  Fiscal 2023 79  Fiscal 2024 54  Fiscal 2025 16  Fiscal 2026 16  Fiscal 2027 13  Thereafter 43

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Oct. 30, 2021
Fair Value Measurements [Abstract]
Fair Value, Assets and Liabilities Measured on Recurring Basis	Fair Value at Balance Sheet Location(1)Fair Value Hierarchy October 30, 2021 January 30, 2021 October 31, 2020Assets Money market funds(2) Cash and cash equivalentsLevel 1 $ 313  $ 1,575  $ 4,119  Time deposits(3) Cash and cash equivalentsLevel 2 625  865  84  Time deposits(3) Short-term investments Level 2 - - 545  Time deposits(3) Other current assets Level 2 - 65  100  Interest rate swap derivative instruments(4) Other current assets Level 2 - - 7  Interest rate swap derivative instruments(4) Other assets Level 2 58  91  95  Marketable securities that fund deferred compensation(5)Other assets Level 1 54  53  51  (1)Balance sheet location is determined by length to maturity.(2)Valued at quoted market prices in active markets.(3)Valued at face value plus accrued interest, which approximates fair value.(4)Valued using readily observable market inputs. These instruments are custom, over-the-counter contracts with various bank counterparties that are not traded on an active market. See Note 5, Derivative Instruments, for additional information.(5)Valued using select mutual fund performance that trade with sufficient frequency and volume to obtain pricing information on an ongoing basis.
Fair Value of Financial Instruments	October 30, 2021 January 30, 2021 October 31, 2020 Fair Value Carrying Value Fair Value Carrying Value Fair Value Carrying ValueLong-term debt(1)$ 1,257 $ 1,208 $ 1,331  $ 1,241  $ 1,954 $ 1,902 (1)Excludes debt discounts, issuance costs and finance lease obligations.

Derivative Instruments (Tables)

Derivative Instruments (Tables)	9 Months Ended
	Oct. 30, 2021
Derivative Instruments [Abstract]
Notional Amount of Derivative Instruments	Contract Type October 30, 2021 January 30, 2021 October 31, 2020Derivatives designated as net investment hedges $ 125  $ 153  $ 68  Derivatives designated as interest rate swaps 500  500  1,150  No hedge designation (foreign exchange contracts) 106  51  81  Total $ 731  $ 704  $ 1,299
Effects of Interest Rate Derivatives and Adjustments to LTD on Earnings	Gain (Loss) Recognized Three Months Ended Nine Months Ended Statement of Earnings LocationOctober 30, 2021 October 31, 2020 October 30, 2021 October 31, 2020Interest rate swap contractsInterest expense$ (21) $ (32) $ (33) $ 13  Adjustments to carrying value of long-term debtInterest expense 21  32  33  (13) Total $ - $ - $ - $ -

Debt (Tables)

Debt (Tables)	9 Months Ended
	Oct. 30, 2021
Debt [Abstract]
Schedule of Long-term Debt	October 30, 2021 January 30, 2021 October 31, 20202021 Notes $ - $ - $ 650  2028 Notes 500  500  500  2030 Notes 650  650  650  Interest rate swap valuation adjustments 58  91  102  Subtotal 1,208  1,241  1,902  Debt discounts and issuance costs (11) (12) (13) Finance lease obligations 41  38  37  Total long-term debt 1,238  1,267  1,926  Less current portion 15  14  670  Total long-term debt, less current portion $ 1,223  $ 1,253  $ 1,256

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Oct. 30, 2021
Revenue [Abstract]
Contract Balances and Changes in Contract Balances	October 30, 2021 January 30, 2021 October 31, 2020Receivables, net(1)$ 638  $ 618  $ 625  Short-term contract liabilities included in: Unredeemed gift card liabilities 306  317  278  Deferred revenue 977  711  788  Accrued liabilities 88  71  71  (1)Receivables are recorded net of allowances for doubtful accounts of $24 million, $32 million and $30 million as of October 30, 2021, January 30, 2021, and October 31, 2020, respectively.

Earnings per Share (Tables)

Earnings per Share (Tables)	9 Months Ended
	Oct. 30, 2021
Earnings per Share [Abstract]
Schedule of Calculation of Numerator and Denominator in Earnings Per Share	Three Months Ended Nine Months Ended October 30, 2021 October 31, 2020 October 30, 2021 October 31, 2020Numerator Net earnings$ 499  $ 391  $ 1,828  $ 982  Denominator Weighted-average common shares outstanding 246.4  259.8  249.9  259.3  Dilutive effect of stock compensation plan awards 2.7  3.9  3.0  3.2  Weighted-average common shares outstanding, assuming dilution 249.1  263.7  252.9  262.5  Basic earnings per share$ 2.02  $ 1.50  $ 7.31  $ 3.79  Diluted earnings per share$ 2.00  $ 1.48  $ 7.23  $ 3.74

Repurchase of Common Stock (Tab

Repurchase of Common Stock (Tables)	9 Months Ended
	Oct. 30, 2021
Shareholders' Equity [Abstract]
Schedule of Share Repurchases	Three Months Ended Nine Months Ended October 30, 2021 October 31, 2020 October 30, 2021 October 31, 2020Total cost of shares repurchased$ 426  $ - $ 1,757 $ 56 Average price per share$ 115.94  $ - $ 111.33 $ 86.30 Number of shares repurchased 3.7  - 15.8 0.6

Segments (Tables)

Segments (Tables)	9 Months Ended
	Oct. 30, 2021
Segments [Abstract]
Revenue by Reportable Segment and Product Category	Three Months Ended Nine Months Ended October 30, 2021 October 31, 2020 October 30, 2021 October 31, 2020Revenue by reportable segment Domestic $ 10,985  $ 10,850  $ 32,837  $ 27,893  International 925  1,003  2,559  2,432  Total revenue $ 11,910  $ 11,853  $ 35,396  $ 30,325  Revenue by product category Domestic: Computing and Mobile Phones $ 4,901  $ 5,059  $ 14,460  $ 13,130  Consumer Electronics 3,346  3,197  9,964  8,090  Appliances 1,628  1,478  4,864  3,703  Entertainment 527  509  1,755  1,430  Services 541  578  1,667  1,461  Other 42  29  127  79  Total Domestic revenue $ 10,985  $ 10,850  $ 32,837  $ 27,893  International: Computing and Mobile Phones $ 462  $ 531  $ 1,230  $ 1,211  Consumer Electronics 253  265  720  663  Appliances 87  93  260  243  Entertainment 54  50  176  156  Services 54  51  128  119  Other 15  13  45  40  Total International revenue $ 925  $ 1,003  $ 2,559  $ 2,432
Operating Income by Reportable Segment and Reconciliation to Earnings Before Income Tax Expense	Three Months Ended Nine Months Ended October 30, 2021 October 31, 2020 October 30, 2021 October 31, 2020Domestic $ 609  $ 612  $ 2,100  $ 1,377  International 61  (51) 136  (19) Total operating income 670  561  2,236  1,358  Other income (expense): Investment income and other 1  5  7  19  Interest expense (7) (11) (19) (43) Earnings before income tax expense and equity in income of affiliates$ 664  $ 555  $ 2,224  $ 1,334
Assets by Reportable Segment	October 30, 2021 January 30, 2021 October 31, 2020Domestic$ 18,518  $ 17,625  $ 19,525  International 1,584  1,442  1,677  Total assets$ 20,102  $ 19,067  $ 21,202

Basis of Presentation (Details)

Basis of Presentation (Details) - USD ($) $ in Millions	Oct. 30, 2021	Jan. 30, 2021	Oct. 31, 2020	Feb. 01, 2020
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Cash and cash equivalents	$ 3,465	$ 5,494	$ 5,136
Restricted cash included in Other current assets	173	131	135
Total cash, cash equivalents and restricted cash	$ 3,638	$ 5,625	$ 5,271	$ 2,355

Restructuring (Narrative) (Deta

Restructuring (Narrative) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Oct. 30, 2021	Oct. 31, 2020	Oct. 30, 2021	Oct. 31, 2020	Jan. 30, 2021
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ (1,000,000)	$ 111,000,000	$ (39,000,000)	$ 112,000,000
U.S. Operating Model [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	0		0
Cumulative Amount	41,000,000		41,000,000
Termination Benefits [Member] | Mexico Exit And Strategic Realignment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges			44,000,000
Restructuring Reserve	$ 7,000,000	$ 47,000,000	$ 7,000,000	$ 47,000,000	$ 124,000,000

Restructuring (Composition of R

Restructuring (Composition of Restructuring Charges) (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended		21 Months Ended
	Oct. 30, 2021	Jul. 31, 2021	Oct. 31, 2020	Oct. 30, 2021	Oct. 31, 2020	Oct. 30, 2021
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ (1)		$ 147	$ (45)	$ 148	$ 232
Domestic [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges				(44)	46	89
International [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	(1)			(1)	102	143
Inventory Markdowns [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges				(6)
Inventory Markdowns [Member] | Cost of Sales [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges					36	17
Inventory Markdowns [Member] | International [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges				(6)
Inventory Markdowns [Member] | International [Member] | Cost of Sales [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges					36	17
Asset Impairments [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	(1)			6
Asset Impairments [Member] | Restructuring Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges					58	73
Asset Impairments [Member] | Domestic [Member] | Restructuring Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges					10	10
Asset Impairments [Member] | International [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	(1)			6
Asset Impairments [Member] | International [Member] | Restructuring Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges					48	63
Termination Benefits [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges				(45)
Termination Benefits [Member] | Restructuring Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges					54	98
Termination Benefits [Member] | Domestic [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges				(44)
Termination Benefits [Member] | Domestic [Member] | Restructuring Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges					36	79
Termination Benefits [Member] | International [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges				(1)
Termination Benefits [Member] | International [Member] | Restructuring Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges					18	19
Currency Translation Adjustment [Member] | Restructuring Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges						39
Currency Translation Adjustment [Member] | International [Member] | Restructuring Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges						39
Other [Member] | Restructuring Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges						5
Other [Member] | International [Member] | Restructuring Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges						$ 5
Mexico Exit And Strategic Realignment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ (1)		148	(45)	148
Mexico Exit And Strategic Realignment [Member] | Cost of Sales [Member]
Restructuring Cost and Reserve [Line Items]
Inventory markdown			36	$ 6	$ 36
Mexico Exit And Strategic Realignment [Member] | Asset Impairments [Member] | Restructuring Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ 36
Mexico Exit And Strategic Realignment [Member] | Asset Impairments [Member] | International [Member] | Restructuring Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		36
Mexico Exit And Strategic Realignment [Member] | Termination Benefits [Member] | Restructuring Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		58
Mexico Exit And Strategic Realignment [Member] | Termination Benefits [Member] | Domestic [Member] | Restructuring Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		10
Mexico Exit And Strategic Realignment [Member] | Termination Benefits [Member] | International [Member] | Restructuring Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		48
Mexico Exit And Strategic Realignment [Member] | Currency Translation Adjustment [Member] | Restructuring Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		54
Mexico Exit And Strategic Realignment [Member] | Currency Translation Adjustment [Member] | Domestic [Member] | Restructuring Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		36
Mexico Exit And Strategic Realignment [Member] | Currency Translation Adjustment [Member] | International [Member] | Restructuring Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		18
Mexico Exit And Strategic Realignment [Member] | Other [Member] | Restructuring Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		148
Mexico Exit And Strategic Realignment [Member] | Other [Member] | Domestic [Member] | Restructuring Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		46
Mexico Exit And Strategic Realignment [Member] | Other [Member] | International [Member] | Restructuring Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ 102
U.S. Operating Model [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges			$ (1)

Restructuring (Restructuring Ac

Restructuring (Restructuring Accrual Activity) (Details) - USD ($)	9 Months Ended
	Oct. 30, 2021	Oct. 31, 2020
U.S. Operating Model [Member]
Restructuring Reserve [Roll Forward]
Balances	$ 0
Mexico Exit And Strategic Realignment [Member] | Termination Benefits [Member]
Restructuring Reserve [Roll Forward]
Balances	124,000,000
Charges		$ 54,000,000
Cash payments	(71,000,000)	(7,000,000)
Adjustments	(45,000,000)
Changes in foreign currency exchange rates	(1,000,000)
Balances	7,000,000	47,000,000
Domestic [Member] | Mexico Exit And Strategic Realignment [Member] | Termination Benefits [Member]
Restructuring Reserve [Roll Forward]
Balances	104,000,000
Charges		36,000,000
Cash payments	(54,000,000)	(7,000,000)
Adjustments	(44,000,000)
Balances	6,000,000	29,000,000
International [Member] | Mexico Exit And Strategic Realignment [Member] | Termination Benefits [Member]
Restructuring Reserve [Roll Forward]
Balances	20,000,000
Charges		18,000,000
Cash payments	(17,000,000)
Adjustments	(1,000,000)
Changes in foreign currency exchange rates	(1,000,000)
Balances	$ 1,000,000	$ 18,000,000

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets (Narrative) (Details) - USD ($)	9 Months Ended		12 Months Ended
	Oct. 30, 2021	Oct. 31, 2020	Jan. 30, 2021
Goodwill and Intangible Assets [Abstract]
Goodwill and intangible assets impairment charges	$ 0	$ 0	$ 0

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets (Gross Carrying Amount of Goodwill and Cumulative Goodwill Impairment) (Details) $ in Millions	Oct. 30, 2021USD ($)
Goodwill [Line Items]
Gross Carrying Amount	$ 1,661
Cumulative Impairment	(675)
Domestic [Member]
Goodwill [Line Items]
Gross Carrying Amount	1,053
Cumulative Impairment	(67)
International [Member]
Goodwill [Line Items]
Gross Carrying Amount	608
Cumulative Impairment	$ (608)

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets (Definite-Lived Intangible Assets) (Details) - USD ($) $ in Millions	9 Months Ended
	Oct. 30, 2021	Jan. 30, 2021	Oct. 31, 2020
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 476	$ 476	$ 476
Accumulated Amortization	$ 235	175	155
Weighted-Average Useful Life Remaining	5 years 8 months 12 days
Customer Relationships [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 339	339	339
Accumulated Amortization	$ 165	124	111
Weighted-Average Useful Life Remaining	6 years 6 months
Tradename [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 81	81	81
Accumulated Amortization	$ 34	24	20
Weighted-Average Useful Life Remaining	4 years 3 months 18 days
Developed Technology [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 56	56	56
Accumulated Amortization	$ 36	$ 27	$ 24
Weighted-Average Useful Life Remaining	1 year 10 months 24 days

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets (Amortization Expense) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 30, 2021	Oct. 31, 2020	Oct. 30, 2021	Oct. 31, 2020
Goodwill and Intangible Assets [Abstract]
Amortization expense	$ 20	$ 20	$ 60	$ 60

Goodwill and Intangible Asset_6

Goodwill and Intangible Assets (Amortization Expense Expected to be Recognized) (Details) $ in Millions	Oct. 30, 2021USD ($)
Goodwill and Intangible Assets [Abstract]
Remainder of fiscal 2022	$ 20
Fiscal 2023	79
Fiscal 2024	54
Fiscal 2025	16
Fiscal 2026	16
Fiscal 2027	13
Thereafter	$ 43

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Value, Assets and Liabilities Measured on Recurring Basis) (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Millions	Oct. 30, 2021	Jan. 30, 2021	Oct. 31, 2020
Level 1 [Member] | Money market funds [Member]
Assets
Cash and cash equivalents	$ 313	$ 1,575	$ 4,119
Level 1 [Member] | Marketable securities that fund deferred compensation [Member]
Assets
Other assets	54	53	51
Level 2 [Member] | Time deposits [Member]
Assets
Cash and cash equivalents	625	865	84
Short-term investments			545
Other current assets		65	100
Level 2 [Member] | Interest Rate Swap Derivative Instruments [Member]
Assets
Other current assets			7
Other assets	$ 58	$ 91	$ 95

Fair Value Measurements (Fair_2

Fair Value Measurements (Fair Value of Financial Instruments) (Details) - USD ($) $ in Millions	Oct. 30, 2021	Jan. 30, 2021	Oct. 31, 2020
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Carrying value	$ 1,208	$ 1,241	$ 1,902
Long-term debt [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Carrying value	1,208	1,241	1,902
Level 2 [Member] | Long-term debt [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	$ 1,257	$ 1,331	$ 1,954

Derivative Instruments (Narrati

Derivative Instruments (Narrative) (Details)	Oct. 30, 2021USD ($)
Notes due 2021 [Member]
Derivative [Line Items]
Debt Instrument, Face Amount	$ 650,000,000
Notes due 2028 [Member]
Derivative [Line Items]
Debt Instrument, Face Amount	$ 500,000,000

Derivative Instruments (Notiona

Derivative Instruments (Notional Amount of Derivative Instruments) (Details) - USD ($) $ in Millions	Oct. 30, 2021	Jan. 30, 2021	Oct. 31, 2020
Not Designated As Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	$ 731	$ 704	$ 1,299
Derivatives Designated As Net Investment Hedges [Member] | Designated As Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	125	153	68
Interest Rate Swap Derivative Instruments [Member] | Designated As Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	500	500	1,150
Foreign Exchange Forward Contracts [Member] | Not Designated As Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	$ 106	$ 51	$ 81

Derivative Instruments (Effects

Derivative Instruments (Effects of Interest Rate Derivatives and Adjustments to LTD on Earnings) (Details) - Designated As Hedging Instrument [Member] - Interest Expense [Member] - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 30, 2021	Oct. 31, 2020	Oct. 30, 2021	Oct. 31, 2020
Derivatives, Fair Value [Line Items]
Gain (Loss) Recognized
Interest Rate Swap Derivative Instruments [Member]
Derivatives, Fair Value [Line Items]
Gain (Loss) Recognized	(21)	(32)	(33)	13
Carrying Value Of Long Term Debt [Member]
Derivatives, Fair Value [Line Items]
Gain (Loss) Recognized	$ 21	$ 32	$ 33	$ (13)

Debt (Narrative) (Short-Term De

Debt (Narrative) (Short-Term Debt) (Details) - USD ($)	9 Months Ended
	Oct. 30, 2021	Jan. 30, 2021	Oct. 31, 2020
Five-Year Facility Agreement [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 1,250,000,000
Debt instrument, term	5 years
Outstanding borrowings	$ 0	$ 0	$ 0
Bank Advance [Member]
Line of Credit Facility [Line Items]
Interest rate	0.14%
Debt Instrument, Face Amount	$ 110,000,000

Debt (Schedule of Long-Term Deb

Debt (Schedule of Long-Term Debt) (Details) - USD ($) $ in Millions	Oct. 30, 2021	Jan. 30, 2021	Oct. 31, 2020
Debt Instrument [Line Items]
Total	$ 1,208	$ 1,241	$ 1,902
Debt discounts and issuance costs	(11)	(12)	(13)
Finance lease obligations	41	38	37
Total long-term debt	1,238	1,267	1,926
Less current portion	15	14	670
Total long-term debt, less current portion	1,223	1,253	1,256
Interest Rate Swap Derivative Instruments [Member]
Debt Instrument [Line Items]
Interest rate swap valuation adjustments	58	91	102
Notes due 2021 [Member]
Debt Instrument [Line Items]
Long-term debt			650
Notes due 2028 [Member]
Debt Instrument [Line Items]
Long-term debt	500	500	500
Notes Due 2030 [Member]
Debt Instrument [Line Items]
Long-term debt	$ 650	$ 650	$ 650

Revenue (Narrative) (Details)

Revenue (Narrative) (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Oct. 30, 2021	Jan. 30, 2021
Revenue [Abstract]
Revenue recognized	$ 1,001	$ 792

Revenue (Contract Balances and

Revenue (Contract Balances and Changes in Contract Balances) (Details) - USD ($) $ in Millions	Oct. 30, 2021	Jan. 30, 2021	Oct. 31, 2020
Revenue from Contract with Customer [Line Items]
Receivables, net	$ 638	$ 618	$ 625
Short-term contract liabilities included in:
Receivables, allowance for doubtful accounts	24	32	30
Unredeemed Gift Cards [Member]
Short-term contract liabilities included in:
Short-term contract liabilities	306	317	278
Deferred Revenue [Member]
Short-term contract liabilities included in:
Short-term contract liabilities	977	711	788
Accrued Liability [Member]
Short-term contract liabilities included in:
Short-term contract liabilities	$ 88	$ 71	$ 71

Earnings per Share (Details)

Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Oct. 30, 2021	Oct. 31, 2020	Oct. 30, 2021	Oct. 31, 2020
Earnings per Share [Abstract]
Net earnings	$ 499	$ 391	$ 1,828	$ 982
Weighted-average common shares outstanding (in shares)	246.4	259.8	249.9	259.3
Dilutive effect of stock compensation plan awards (in shares)	2.7	3.9	3	3.2
Weighted-average common shares outstanding, assuming dilution (in shares)	249.1	263.7	252.9	262.5
Basic earnings per share	$ 2.02	$ 1.50	$ 7.31	$ 3.79
Diluted earnings per share	$ 2	$ 1.48	$ 7.23	$ 3.74

Repurchase of Common Stock (Nar

Repurchase of Common Stock (Narrative) (Details) - USD ($) shares in Millions, $ in Millions	Aug. 24, 2021	Dec. 01, 2021	Oct. 30, 2021	Oct. 30, 2021	Oct. 31, 2020
Stock Repurchases [Line Items]
Repurchase of common stock			$ 426	$ 1,757	$ 56
February 2021 Share Repurchase Program [Member]
Stock Repurchases [Line Items]
Stock Repurchase Program, Authorized Amount			5,000	5,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount			$ 3,400	$ 3,400
Scenario, Plan [Member] | February 2021 Share Repurchase Program [Member]
Stock Repurchases [Line Items]
Repurchase of common stock	$ 2,500
Subsequent Event [Member]
Stock Repurchases [Line Items]
Repurchase of common stock		$ 452
Repurchase of common stock (in shares)		3.6

Repurchase of Common Stock (Sch

Repurchase of Common Stock (Schedule of share repurchases) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended	9 Months Ended
	Oct. 30, 2021	Oct. 30, 2021	Oct. 31, 2020
Shareholders' Equity [Abstract]
Total cost of shares repurchased	$ 426	$ 1,757	$ 56
Average price per share	$ 115.94	$ 111.33	$ 86.30
Number of shares repurchased	3.7	15.8	0.6

Income Taxes (Details)

Income Taxes (Details) $ in Millions	3 Months Ended
	Jul. 31, 2021USD ($)
Income Taxes [Abstract]
Decrease in unrecognized tax benefits	$ 101

Segments (Revenue by Reportable

Segments (Revenue by Reportable Segment and Product Category) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 30, 2021	Oct. 31, 2020	Oct. 30, 2021	Oct. 31, 2020
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 11,910	$ 11,853	$ 35,396	$ 30,325
Domestic Segment [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	10,985	10,850	32,837	27,893
Domestic Segment [Member] | Computing and Mobile Phones [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	4,901	5,059	14,460	13,130
Domestic Segment [Member] | Consumer Electronics [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	3,346	3,197	9,964	8,090
Domestic Segment [Member] | Appliances [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	1,628	1,478	4,864	3,703
Domestic Segment [Member] | Entertainment [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	527	509	1,755	1,430
Domestic Segment [Member] | Services [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	541	578	1,667	1,461
Domestic Segment [Member] | Other [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	42	29	127	79
International Segment [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	925	1,003	2,559	2,432
International Segment [Member] | Computing and Mobile Phones [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	462	531	1,230	1,211
International Segment [Member] | Consumer Electronics [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	253	265	720	663
International Segment [Member] | Appliances [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	87	93	260	243
International Segment [Member] | Entertainment [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	54	50	176	156
International Segment [Member] | Services [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	54	51	128	119
International Segment [Member] | Other [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 15	$ 13	$ 45	$ 40

Segments (Operating Income by R

Segments (Operating Income by Reportable Segment and Reconciliation to Earnings Before Income Tax Expense) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 30, 2021	Oct. 31, 2020	Oct. 30, 2021	Oct. 31, 2020
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating income	$ 670	$ 561	$ 2,236	$ 1,358
Investment income and other	1	5	7	19
Interest expense	(7)	(11)	(19)	(43)
Earnings before income tax expense and equity in income of affiliates	664	555	2,224	1,334
Domestic Segment [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating income	609	612	2,100	1,377
International Segment [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating income	$ 61	$ (51)	$ 136	$ (19)

Segments (Assets by Reportable

Segments (Assets by Reportable Segment) (Details) - USD ($) $ in Millions	Oct. 30, 2021	Jan. 30, 2021	Oct. 31, 2020
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 20,102	$ 19,067	$ 21,202
Domestic Segment [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	18,518	17,625	19,525
International Segment [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 1,584	$ 1,442	$ 1,677

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event [Member] - USD ($) $ in Millions	Nov. 04, 2021	Nov. 02, 2021
Current Health Ltd. [Member]
Subsequent Event [Line Items]
Business Combination, Consideration Transferred		$ 400
Yardbird [Member]
Subsequent Event [Line Items]
Business Combination, Consideration Transferred	$ 85