Best Buy (BBY) 10-K 15 Mar 24 2024 FY Annual report Financial data

Document Information Statement

Document Information Statement - USD ($) $ in Billions	12 Months Ended
	Feb. 03, 2024	Mar. 13, 2024	Jul. 28, 2023
Document Information [Abstract]
Document Type	10-K
Document Annual Report	true
Document Fiscal Period Focus	FY
Document Period End Date	Feb. 03, 2024
Current Fiscal Year End Date	--02-03
Document Fiscal Year Focus	2024
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 Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	true
Entity Public Float			$ 14.1
Entity Common Stock, Shares Outstanding		215,381,395
Documents Incorporated by Reference [Text Block]	Portions of the registrant's Definitive Proxy Statement relating to its 2024 Regular Meeting of Shareholders ("Proxy Statement") are incorporated by reference into Part III. The Proxy Statement will be filed with the U.S. Securities and Exchange Commission within 120 days after the end of the fiscal year to which this report relates.
Document Financial Statement Error Correction [Flag]	false
Entity Central Index Key	0000764478
Amendment Flag	false
Auditor Firm ID	34
Auditor Location	Minneapolis, Minnesota
Auditor Name	Deloitte & Touche LLP

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Feb. 03, 2024	Jan. 28, 2023
Current assets
Cash and cash equivalents	$ 1,447	$ 1,874
Receivables, net	939	1,141
Merchandise inventories	4,958	5,140
Other current assets	553	647
Total current assets	7,897	8,802
Property and equipment
Land and buildings	702	688
Leasehold improvements	2,275	2,260
Fixtures and equipment	4,002	3,928
Property under finance leases	97	100
Gross property and equipment	7,076	6,976
Less accumulated depreciation	4,816	4,624
Net property and equipment	2,260	2,352
Operating lease assets	2,758	2,746
Goodwill	1,383	1,383
Other assets	669	520
Total assets	14,967	15,803
Current liabilities
Accounts payable	4,637	5,687
Accrued compensation and related expenses	486	405
Accrued liabilities	902	843
Current portion of operating lease liabilities	618	638
Current portion of long-term debt	13	16
Total current liabilities	7,909	8,979
Long-term operating lease liabilities	2,199	2,164
Long-term liabilities	654	705
Long-term debt	1,152	1,160
Contingencies and commitments (Note 13)
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 - 215.4 million and 218.1 million shares, respectively	22	22
Additional paid-in capital	31	21
Retained earnings	2,683	2,430
Accumulated other comprehensive income	317	322
Total equity	3,053	2,795
Total liabilities and equity	14,967	15,803
Gift Card [Member]
Current liabilities
Short-term contract liabilities	253	274
Deferred Revenue [Member]
Current liabilities
Short-term contract liabilities	$ 1,000	$ 1,116

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Feb. 03, 2024	Jan. 28, 2023
Consolidated Balance Sheets [Abstract]
Preferred stock, par value (in dollars per share)	$ 1	$ 1
Preferred stock, authorized shares	400,000	400,000
Preferred stock, issued shares	0	0
Preferred stock, outstanding shares	0	0
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, authorized shares	1,000,000,000	1,000,000,000
Common stock, issued shares	215,400,000	218,100,000
Common stock, outstanding shares	215,400,000	218,100,000

Consolidated Statements of Earn

Consolidated Statements of Earnings - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Consolidated Statements of Earnings [Abstract]
Revenue	$ 43,452	$ 46,298	$ 51,761
Cost of sales	33,849	36,386	40,121
Gross profit	9,603	9,912	11,640
Selling, general and administrative expenses	7,876	7,970	8,635
Restructuring charges	153	147	(34)
Operating income	1,574	1,795	3,039
Other income (expense):
Gain on sale of subsidiary, net	21
Investment income and other	78	28	10
Interest expense	(52)	(35)	(25)
Earnings before income tax expense and equity in income of affiliates	1,621	1,788	3,024
Income tax expense	381	370	574
Equity in income of affiliates	1	1	4
Net earnings	$ 1,241	$ 1,419	$ 2,454
Basic earnings per share	$ 5.70	$ 6.31	$ 9.94
Diluted earnings per share	$ 5.68	$ 6.29	$ 9.84
Weighted-average common shares outstanding:
Basic	217.7	224.8	246.8
Diluted	218.5	225.7	249.3

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Consolidated Statements of Comprehensive Income [Abstract]
Net earnings	$ 1,241	$ 1,419	$ 2,454
Foreign currency translation adjustments, net of tax	(5)	(7)	1
Comprehensive income	$ 1,236	$ 1,412	$ 2,455

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Operating activities
Net earnings	$ 1,241	$ 1,419	$ 2,454
Adjustments to reconcile net earnings to total cash provided by operating activities:
Depreciation and amortization	923	918	869
Restructuring charges	153	147	(34)
Stock-based compensation	145	138	141
Deferred income taxes	(214)	51	14
Gain on sale of subsidiary, net	(21)
Other, net	26	12	11
Changes in operating assets and liabilities, net of acquired assets and liabilities:
Receivables	204	(103)	17
Merchandise inventories	178	809	(328)
Other assets	(18)	(21)	(14)
Accounts payable	(1,025)	(1,099)	(201)
Income taxes	52	36	(156)
Other liabilities	(174)	(483)	479
Total cash provided by operating activities	1,470	1,824	3,252
Investing activities
Additions to property and equipment	(795)	(930)	(737)
Purchases of investments	(9)	(46)	(233)
Net proceeds from sale of subsidiary	14
Sales of investments	7	7	66
Acquisitions, net of cash acquired			(468)
Other, net	2	7
Total cash used in investing activities	(781)	(962)	(1,372)
Financing activities
Repurchase of common stock	(340)	(1,014)	(3,502)
Issuance of common stock	19	16	29
Dividends paid	(801)	(789)	(688)
Repayments of debt	(19)	(19)	(133)
Other, net	(3)		(3)
Total cash used in financing activities	(1,144)	(1,806)	(4,297)
Effect of exchange rate changes on cash	(5)	(8)	(3)
Decrease in cash, cash equivalents and restricted cash	(460)	(952)	(2,420)
Cash, cash equivalents and restricted cash at beginning of period	2,253	3,205	5,625
Cash, cash equivalents and restricted cash at end of period	1,793	2,253	3,205
Supplemental cash flow information
Income taxes paid (includes payments for purchased tax credits of $103 million, $2 million and $4 million, respectively)	543	283	716
Interest paid	$ 51	$ 31	$ 22

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Consolidated Statements of Cash Flows [Abstract]
Payment for purchased tax credits	$ 103	$ 2	$ 4

Consolidated Statements of Chan

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 Jan. 30, 2021	$ 26		$ 4,233	$ 328	$ 4,587
Balances (in shares) at Jan. 30, 2021	256.9
Net earnings			2,454		2,454
Other comprehensive loss:
Foreign currency translation adjustments, net of tax				1	1
Stock-based compensation		$ 141			141
Issuance of common stock		29			29
Issuance of common stock (in shares)	2.7
Common stock dividends		14	(702)		(688)
Repurchase of common stock	$ (3)	(184)	(3,317)		$ (3,504)
Repurchase of common stock (in shares)	(32.2)				(32.2)
Balances at Jan. 29, 2022	$ 23		2,668	329	$ 3,020
Balances (in shares) at Jan. 29, 2022	227.4
Net earnings			1,419		1,419
Other comprehensive loss:
Foreign currency translation adjustments, net of tax				(7)	(7)
Stock-based compensation		138			138
Issuance of common stock		16			16
Issuance of common stock (in shares)	2.5
Common stock dividends		14	(804)		(790)
Repurchase of common stock	$ (1)	(147)	(853)		$ (1,001)
Repurchase of common stock (in shares)	(11.8)				(11.8)
Balances at Jan. 28, 2023	$ 22	21	2,430	322	$ 2,795
Balances (in shares) at Jan. 28, 2023	218.1
Net earnings			1,241		1,241
Other comprehensive loss:
Foreign currency translation adjustments, net of tax				(5)	(5)
Stock-based compensation		145			145
Issuance of common stock		19			19
Issuance of common stock (in shares)	2
Common stock dividends		14	(816)		(802)
Repurchase of common stock		(168)	(172)		$ (340)
Repurchase of common stock (in shares)	(4.7)				(4.7)
Balances at Feb. 03, 2024	$ 22	$ 31	$ 2,683	$ 317	$ 3,053
Balances (in shares) at Feb. 03, 2024	215.4

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Consolidated Statements of Changes in Shareholders' Equity [Abstract]
Common stock, dividends, per share, declared	$ 3.68	$ 3.52	$ 2.80

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Feb. 03, 2024
Summary of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Notes to Consolidated Financial Statements 1. Summary of Significant Accounting Policies Unless the context otherwise requires, the use of the terms “Best Buy,” “we,” “us” and “our” in these Notes to Consolidated Financial Statements refers to Best Buy Co., Inc. and, as applicable, its consolidated subsidiaries. Description of Business We are driven by our purpose to enrich lives through technology and our vision to personalize and humanize technology solutions for every stage of life. We accomplish this by leveraging our combination of technology and a human touch to meet our customers’ everyday needs, whether they come to us online, visit our stores or invite us into their homes. We have operations in the U.S. and Canada. We have two reportable segments: Domestic and International. The Domestic segment is comprised of our operations in all states, districts and territories of the U.S. and our Best Buy Health business, and includes the brand names Best Buy, Best Buy Ads, Best Buy Business, Best Buy Health, CST, Current Health, Geek Squad, Lively, Magnolia, Pacific Kitchen and Home, TechLiquidators and Yardbird and the domain names bestbuy.com, currenthealth.com, lively.com, techliquidators.com and yardbird.com. Our International segment is comprised of all operations in Canada under the brand names Best Buy, Best Buy Mobile and Geek Squad and the domain name bestbuy.ca. In fiscal 2022, we acquired all of the outstanding shares of Current Health Ltd. (“Current Health”) and Two Peaks, LLC d/b/a Yardbird Furniture (“Yardbird”). Refer to Note 2, Acquisitions , for additional information. In fiscal 2024, we completed the sale of a Mexico subsidiary subsequent to our exit from operations in Mexico and recognized a $ 21 million gain within Gain on sale of subsidiary, net on our Consolidated Statements of Earnings. Refer to Note 3, Restructuring , for additional information regarding our exit from operations in Mexico. Basis of Presentation The consolidated financial statements include the accounts of Best Buy Co., Inc. and its consolidated subsidiaries. All intercompany balances and transactions are eliminated upon consolidation. Use of Estimates in the Preparation of Financial Statements The preparation of financial statements in conformity with accounting principles generally accepted in the U.S. ("GAAP") requires us to make estimates and assumptions. These estimates and assumptions affect the reported amounts in the consolidated financial statements, as well as the disclosure of contingent liabilities. Future results could be materially affected if actual results were to differ from these estimates and assumptions. Fiscal Year Our fiscal year ends on the Saturday nearest the end of January. Fiscal 2024, fiscal 2023 and fiscal 2022 ended February 3, 2024, January 28, 2023, and January 29, 2022, respectively. Unless otherwise noted, references to years in these notes to consolidated financial statements relate to fiscal years, and not calendar years. Fiscal 2024 included 53 weeks with the 53 rd week occurring in the fiscal fourth quarter. Fiscal 2023 and fiscal 2022 each included 52 weeks. Adopted Accounting Pronouncements In the first quarter of fiscal 2024, we adopted the Accounting Standards Update (“ASU”) 2022-04, Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations . ASU 2022-04 requires entities to disclose the key terms of the supplier finance programs they use in connection with the purchase of goods and services, along with the amount of obligations outstanding at the end of each period. Beginning in fiscal 2025, an annual roll-forward of such obligations is also required. Below are the applicable disclosures as a result of ASU 2022-04. Supply Chain Financing We have a supply chain financing program with an independent financial institution, whereby some of our suppliers have the opportunity to receive accounts payable settlements early, at a discount, facilitated by the financial institution. Under this program, the financial institution agrees to terms with our suppliers, including amounts that are eligible for early payment, the timing of such payments and the discounts. The financial institution then pays the supplier based on the payment terms agreed to. Suppliers’ participation in this program is at their own option. The financial institution can vary discounts offered at their own discretion. Our rights and obligations to our suppliers – which are typically formalized in standardized agreements – are not affected by the existence of the program. Our liability associated with the funded participation in the program, which is included in Accounts payable on our Consolidated Balance Sheets, was $ 426 million and $ 386 million as of February 3, 2024, and January 28, 2023, respectively. New Accounting Pronouncements and Disclosure Rules In November 2023, the Financial Accounting Standards Board (“FASB”) issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , which enhances reportable segment disclosure requirements primarily through expanded disclosures around significant segment expenses. The amendments are effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024. The amendments should be applied retrospectively to all prior periods presented in the financial statements. We are currently evaluating the impact of the ASU and expect to include updated segment expense disclosures in our fiscal 2025 Form 10-K. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires disclosure of specific categories meeting a quantitative threshold within the income tax rate reconciliation, as well as disaggregation of income taxes paid by jurisdiction. This ASU, which can be applied either prospectively or retrospectively, is effective for annual periods beginning after December 15, 2024, with early adoption permitted. We are currently evaluating the impact of the ASU and expect to include updated income tax disclosures in our fiscal 2026 Form 10-K. In March 2024, the U.S. Securities and Exchange Commission issued its final climate disclosure rule, which requires the disclosure of Scope 1 and Scope 2 greenhouse gas emissions and other climate-related topics in annual reports and registration statements, when material. Disclosure requirements will begin phasing in for fiscal years beginning on or after January 1, 2025. We are currently evaluating the impact of the new rule and expect to include updated climate-related disclosures in our fiscal 2026 Form 10-K. Segment Information Our business is organized into two reportable segments: Domestic (which is comprised of all states, districts and territories of the U.S. and our Best Buy Health business ) and International (which is comprised of all operations in Canada). Our chief operating decision maker (“CODM”) is our Chief Executive Officer. Our CODM has ultimate responsibility for enterprise decisions, including determining resource allocation for, and monitoring the performance of, the consolidated enterprise, the Domestic reportable segment and the International reportable segment. Business Combinations We account for business combinations under the acquisition method of accounting. This method requires the recording of acquired assets and assumed liabilities at their acquisition date fair values. The excess of the purchase price over the fair value of assets acquired and liabilities assumed is recorded as goodwill. Results of operations related to business combinations are included prospectively beginning with the date of acquisition and transaction costs related to business combinations are recorded within Selling, general and administrative expenses (“SG&A”) on our Consolidated Statements of Earnings. Cash, Cash Equivalents and Restricted Cash Cash, cash equivalents and restricted cash reported on our Consolidated Balance Sheets are reconciled to the total shown on our Consolidated Statements of Cash Flows as follows ($ in millions): February 3, 2024 January 28, 2023 January 29, 2022 Cash and cash equivalents $ 1,447 $ 1,874 $ 2,936 Restricted cash included in Other current assets 346 379 269 Total cash, cash equivalents and restricted cash $ 1,793 $ 2,253 $ 3,205 Cash equivalents consist of highly liquid investments with original maturities of three months or less. Amounts included in restricted cash are primarily restricted to cover product protection plans provided under our membership offerings and other self-insurance liabilities. Receivables Receivables consist primarily of amounts due from banks for customer credit card and debit card transactions, vendors for various vendor funding programs, mobile phone network operators for device sales and commissions, and online marketplace partnerships. Receivables are stated at their carrying values, net of a reserve for expected credit losses, which is primarily based on historical collection trends. Our allowances for uncollectible receivables were $ 32 million and $ 30 million as of February 3, 2024, and January 28, 2023, respectively. We had $ 43 million and $ 41 million of write-offs in fiscal 2024 and fiscal 2023, respectively. Merchandise Inventories Merchandise inventories are recorded at the lower of cost or net realizable value. The weighted-average method is used to determine the cost of inventory which includes costs of in-bound freight to move inventory into our distribution centers. Also included as a reduction to the cost of inventory are certain vendor allowances. Costs associated with storing and transporting merchandise inventories to our retail stores are expensed as incurred and included within Cost of sales on our Consolidated Statements of Earnings. Our inventory valuation also reflects markdown adjustments for the excess of the cost over the net recovery we expect to realize from the ultimate disposition of inventory, including consideration of any rights we may have to return inventory to vendors for a refund, and establishes a new cost basis. Subsequent changes in facts or circumstances do not result in the reversal of previously recorded markdown adjustments or an increase in the newly established cost basis. Our inventory valuation reflects adjustments for physical inventory losses (resulting from, for example, theft). Physical inventory is maintained through a combination of full location counts and more regular cycle counts. Property and Equipment Property and equipment is recorded at cost. We depreciate property and equipment to its residual value using the straight-line method over the estimated useful lives of the assets. Leasehold improvements are depreciated over the shorter of their estimated useful lives or the period from the date the assets are placed in service to the end of the lease term, which includes optional renewal periods if they are reasonably certain. Accelerated depreciation methods are generally used for income tax purposes. When property is retired or otherwise disposed of, the cost and accumulated depreciation are removed from our Consolidated Balance Sheets and any resulting gain or loss is reflected on our Consolidated Statements of Earnings. Repairs and maintenance costs are expensed as incurred. Major renewals or replacements that substantially extend the useful life of an asset are capitalized and depreciated. Costs associated with the acquisition or development of software for internal use are capitalized and amortized over the expected useful life of the software, generally from two year s to five year s. A subsequent addition, modification or upgrade to internal-use software is capitalized to the extent that it enhances the software's functionality. Capitalized software is included in Fixtures and equipment on our Consolidated Balance Sheets. Software maintenance and training costs are expensed in the period incurred. The costs of developing software for sale to customers are expensed as incurred until technological feasibility is established, which generally leads to expensing substantially all costs. Costs associated with implementing cloud computing arrangements that are service contracts are capitalized using methodology similar to internal-use software, but are included in Other assets on our Consolidated Balance Sheets. Estimated useful lives by major asset category are as follows (in years): Asset Category Useful Life Buildings 5 - 35 Leasehold improvements 5 - 10 Fixtures and equipment 2 - 15 Impairment of Long-Lived Assets Long-lived assets are evaluated for impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. When evaluating long-lived assets with impairment indicators for potential impairment, we first compare the carrying value of the asset to its estimated undiscounted future cash flows. If the sum of the estimated undiscounted future cash flows is less than the carrying value of the asset, we calculate an impairment loss. The impairment loss calculation compares the carrying value of the asset to its estimated fair value, which is typically based on estimated discounted future cash flows. We recognize an impairment loss if the amount of the asset’s carrying value exceeds the asset’s estimated fair value. We evaluate locations for triggering events on a quarterly basis. For store locations, our primary indicator that asset carrying values may not be recoverable is negative store operating income for the most recent 12-month period. We also monitor other factors when evaluating store locations for impairment, including significant changes in the manner of use or expected life of the assets or significant changes in our business strategies. When reviewing long-lived assets for impairment, we group long-lived assets with other assets and liabilities at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. For example, long-lived assets deployed at store locations are reviewed for impairment at either the individual store level or at the local market level. Such reviews involve comparing the net carrying value of all assets to the net cash flow projections for each store or market. In addition, we conduct separate impairment reviews at other levels as appropriate, for example, to evaluate the potential impairment of assets shared by several areas of operations, such as information technology systems. Leases The majority of our lease obligations are real estate operating leases used in our retail and distribution operations. Our finance leases are primarily equipment-related. For any lease with an initial term in excess of 12 months, the related lease assets and liabilities are recognized on our Consolidated Balance Sheets as either operating or finance leases at the inception of an agreement where it is determined that a lease exists. We have lease agreements that contain both lease and non-lease components. For lease agreements entered into or reassessed after the adoption of Accounting Standard’s Codification 842, Leases , in fiscal 2020, we have elected to combine lease and non-lease components for all classes of assets. Leases with an initial term of 12 months or less are not recorded on our Consolidated Balance Sheets; we recognize lease expense for these leases on a straight-line basis over the lease term. Operating lease assets represent the right to use an underlying asset for the lease term and operating lease liabilities represent the obligation to make lease payments arising from the lease. These assets and liabilities are recognized based on the present value of future payments over the lease term at the commencement date. We estimate the incremental borrowing rate for each lease based on an evaluation of our credit ratings and the prevailing market rates for collateralized debt in a similar economic environment with similar payment terms and maturity dates commensurate with the terms of the lease. Our operating leases also typically require payment of real estate taxes, common area maintenance and insurance. These components comprise the majority of our variable lease cost and are excluded from the present value of our lease obligations. In instances where they are fixed, they are included due to our election to combine lease and non-lease components. Operating lease assets also include prepaid lease payments and initial direct costs and are reduced by lease incentives. We generally do not include options to extend or terminate a lease unless it is reasonably certain that the option will be exercised. Fixed payments may contain predetermined fixed rent escalations. We recognize the related rent expense on a straight-line basis from the commencement date to the end of the lease term. Goodwill and Intangible Assets Goodwill Goodwill is the excess of the purchase price over the fair value of identifiable net assets acquired in business combinations. We test goodwill for impairment annually in the fiscal fourth quarter or whenever events or circumstances indicate the carrying value may not be recoverable. We monitor the existence of potential impairment indicators throughout the fiscal year. We test for goodwill impairment at the reporting unit level. Reporting units are determined by identifying components of operating segments which constitute businesses for which discrete financial information is available and is regularly reviewed by segment management. We have goodwill in two reporting units – Best Buy Domestic and Best Buy Health – with carrying values of $ 492 million and $ 891 million, respectively, as of February 3, 2024, and January 28, 2023. Our detailed impairment testing involves comparing the fair value of each reporting unit with its carrying value, including goodwill. Fair value reflects the price a potential market participant would be willing to pay for the reporting unit in an arms-length transaction and typically requires analysis of discounted cash flows and market data, such as revenue multiples and quoted market prices. If the fair value of a reporting unit exceeds its carrying value, we conclude that no goodwill impairment has occurred. If the carrying value of a reporting unit exceeds its fair value, we recognize an impairment loss in an amount equal to the excess, not to exceed the total amount of goodwill allocated to that reporting unit. Intangible Assets Our valuation of identifiable intangible assets acquired is based on information and assumptions available to us at the time of acquisition, using income and market approaches to determine fair value, as appropriate. We amortize our definite-lived intangible assets over the estimated useful lives of the assets. We review these assets for impairment whenever events or changes in circumstances indicate that the carrying amount of these assets might not be recoverable and monitor for the existence of potential impairment indicators throughout the fiscal year. We record an impairment loss for any portion of the carrying value that is not recoverable. Derivatives Net Investment Hedges We use foreign currency forward contracts to hedge against the effect of Canadian dollar exchange rate fluctuations on a portion of our net investment in our Canadian operations. The contracts have terms of up to 12 months. For a net investment hedge, we recognize changes in the fair value of the derivative as a component of foreign currency translation within other comprehensive income to offset a portion of the change in translated value of the net investment being hedged, until the investment is sold or liquidated. We limit recognition in net earnings of amounts previously recorded in other comprehensive income to circumstances such as complete or substantially complete liquidation of the net investment in the hedged foreign operation. We report the gains and losses, if any, related to the amount excluded from the assessment of hedge effectiveness in net earnings. Interest Rate Swaps We utilize “receive fixed-rate, pay variable-rate” interest rate swaps to mitigate the effect of interest rate fluctuations on our $ 500 million principal amount of notes due October 1, 2028 (“2028 Notes”) . Our interest rate swap contracts are considered perfect hedges because the critical terms and notional amounts match those of our fixed-rate debt being hedged and are, therefore, accounted for as fair value hedges using the shortcut method. Under the shortcut method, we recognize the change in the fair value of the derivatives with an offsetting change to the carrying value of the debt. Accordingly, there is no impact on our Consolidated Statements of Earnings from the fair value of the derivatives. Derivatives Not Designated as Hedging Instruments We use foreign currency forward contracts to manage the impact of fluctuations in foreign currency exchange rates relative to recognized receivable and payable balances denominated in non-functional currencies. The contracts generally have terms of up to 12 months. These derivative instruments are not designated in hedging relationships and, therefore, we record gains and losses on these contracts directly to our Consolidated Statements of Earnings. Fair Value Fair value is the price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. To measure fair value, we use a three-tier valuation hierarchy based upon observable and non-observable inputs: Level 1 — Unadjusted quoted prices that are available in active markets for identical assets or liabilities at the measurement date. Level 2 — Significant other observable inputs available at the measurement date, other than quoted prices included in Level 1, either directly or indirectly, including: • Quoted prices for similar assets or liabilities in active markets; • Quoted prices for identical or similar assets or liabilities in non-active markets; • Inputs other than quoted prices that are observable for the asset or liability; and • Inputs that are derived principally from or corroborated by other observable market data. Level 3 — Significant unobservable inputs that cannot be corroborated by observable market data and reflect the use of significant management judgment. These values are generally determined using pricing models for which the assumptions utilize management’s estimates of market participant assumptions. The fair value hierarchy requires the use of observable market data when available. In instances where the inputs used to measure fair value fall into different levels of the fair value hierarchy, the fair value measurement has been determined based on the lowest level input that is significant to the fair value measurement in its entirety. Our assessment of the significance of a particular item to the fair value measurement in its entirety requires judgment, including the consideration of inputs specific to the asset or liability. Fair value remeasurements are based on significant unobservable inputs (Level 3). Fixed asset fair values are primarily derived using a discounted cash flow (“DCF”) model to estimate the present value of net cash flows that the asset or asset group was expected to generate. The key inputs to the DCF model generally include our forecasts of net cash generated from investment operations, as well as an appropriate discount rate. Assets and liabilities that are measured at fair value on a nonrecurring basis relate primarily to our tangible fixed assets, goodwill and other intangible assets, which are remeasured when the derived fair value is below carrying value on our Consolidated Balance Sheets. For these assets, we do not periodically adjust carrying value to fair value, except in the event of impairment. When we determine that impairment has occurred, the carrying value of the asset is reduced to fair value and the difference is recorded within SG&A and Restructuring charges on our Consolidated Statements of Earnings for non-restructuring and restructuring charges, respectively. Insurance We are self-insured for certain losses related to workers’ compensation, medical, general liability and auto claims; however, we obtain third-party excess insurance coverage to limit our exposure to certain claims. Some of these self-insured losses are managed through a wholly-owned insurance captive. Liabilities associated with these losses include estimates of both claims filed and losses incurred but not yet reported. We utilize valuations provided by qualified, independent third-party actuaries as well as internal insurance and risk expertise. Our net self-insured liabilities included on our Consolidated Balance Sheets were as follows ($ in millions): February 3, 2024 January 28, 2023 Short-term liabilities $ 111 $ 111 Long-term liabilities 57 53 Total $ 168 $ 164 Income Taxes We account for income taxes using the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry-forwards. We record a valuation allowance to reduce the carrying amounts of deferred tax assets if it is more likely than not that such assets will not be realized. In determining our provision for income taxes, we use an annual effective income tax rate based on annual income, permanent differences between book and tax income and statutory income tax rates. The effective income tax rate also reflects our assessment of the ultimate outcome of tax audits. We adjust our annual effective income tax rate as additional information on outcomes or events becomes available. Discrete events, such as audit settlements or changes in tax laws, are recognized in the period in which they occur. Our income tax returns are routinely examined by domestic and foreign tax authorities. At any one time, multiple tax years are subject to audit by the various taxing authorities. In evaluating the exposures associated with our various tax filing positions, we may record a liability for such exposures. A number of years may elapse before a particular matter, for which we have established a liability, is audited and fully resolved or clarified. We adjust our liability for unrecognized tax benefits and income tax provisions in the period in which an uncertain tax position is effectively settled, the statute of limitations expires for the relevant taxing authority to examine the tax position or when more information becomes available. We include our liability for unrecognized tax benefits, including accrued penalties and interest, in Long-term liabilities on our Consolidated Balance Sheets and in Income tax expense on our Consolidated Statements of Earnings. Accrued Liabilities The major components of accrued liabilities are sales tax liabilities, advertising accruals, accrued income taxes, sales return reserves and insurance liabilities. Long-Term Liabilities The major components of long-term liabilities are deferred revenue from our private label and co-branded credit card arrangement and unrecognized tax benefits. Foreign Currency Foreign currency denominated assets and liabilities are translated into U.S. dollars using the exchange rates in effect at our Consolidated Balance Sheet dates. Results of operations and cash flows are translated using the average exchange rates throughout the periods. The effect of exchange rate fluctuations on the translation of assets and liabilities is included as a component of shareholders' equity in accumulated other comprehensive income. Gains and losses from foreign currency transactions, which are included in SG&A on our Consolidated Statements of Earnings, have not been significant in any period presented. Revenue Recognition We generate revenue from the sale of products and services, both as a principal and as an agent. Revenue is recognized when control of the promised goods or services is transferred to our customers, in an amount that reflects the consideration that we expect to receive in exchange for those goods or services. Our revenue excludes sales and usage-based taxes collected and is reported net of sales refunds, which includes an estimate of future returns and contract cancellations based on historical refund rates, with a corresponding reduction to cost of sales. We defer the revenue associated with any unsatisfied performance obligation until the obligation is satisfied, typically when control of a product is transferred to the customer or a service is completed. Product Revenue Product revenue is recognized when the customer takes physical control, either in our stores or at their home. Any fees charged to customers for delivery are recognized when delivery has been completed. We use delivery information to determine when to recognize revenue for delivered products and any related delivery fee revenue. In most cases, we are the principal to product contracts as we have control of the physical products prior to transfer to the customer. Accordingly, revenue is recognized on a gross basis. For certain sales, primarily activation-based software licenses and third-party stored-value cards, we are the sales agent providing access to the content and recognize commission revenue net of amounts due to third parties who fulfill the performance obligation. For these transactions, commission revenue is typically recorded once customers have taken possession of licenses or cards and can access their benefits. Warranty obligations associated with the sale of our exclusive brands products are assurance-type warranties that are a guarantee of the product’s intended functionality and, therefore, do not represent a distinct performance obligation within the context of the contract. Services - When we are the principal We recognize revenue for services, such as delivery, installation, set-up, software troubleshooting, product repair, and data services once the service is completed, as this is when the customer has the ability to direct the use of and obtain the benefits of the service or serviced product. Payment terms are typically at the point of sale, but may also occur upon completion of the service. Our service contracts are primarily with retail customers, merchandise vendors (for factory warranty repairs) and extended warranty underwriters. For technical support membership contracts (for example, our Best Buy Total membership offering), we are responsible for providing support services to customers. These contracts have terms ranging from one month to one year and typically contain several performance obligations. Payment for the membership contracts is typically due at the start of the contract period. We have determined that our contracts do not include a significant financing component. For performance obligations provided over time, we recognize revenue primarily on a usage basis, an input method of measuring progress over the related contract term. This method is derived by analysis of historical utilization patterns as this depicts when customers use the services and, accordingly, when delivery of the performance obligation occurs. There is judgment in, for example, estimating the relative standalone selling price for bundled performance obligations; the appropriate recognition methodology for each performance obligation; and, for those based on usage, the expected pattern of consumption across a large portfolio of customers. When insufficient reliable and relevant history is available to estimate usage, we generally recognize revenue ratably over the life of the contract until such history has accumulated. Services - When we are the agent On behalf of third-party underwriters, we sell various hardware protection plans to customers that provide extended warranty coverage on their device purchases. Such plans have terms ranging from one month to five year s. Payment is due at the point of sale. Third-party underwriters assume the risk associated with the coverage and are primarily responsible for fulfillment. We record the net commissions (the amount charged to the customer less the premiums remitted to the underwriter) as revenue once the corresponding product revenue is recognized. In addition, in some cases we are eligible to receive profit-sharing payments, a form of variable consideration, which are de

Acquisitions

Acquisitions	12 Months Ended
	Feb. 03, 2024
Acquisitions [Abstract]
Acquisitions	2. Acquisitions Current Health Ltd. In fiscal 2022, we acquired all outstanding shares of Current Health, a care-at-home technology platform, on November 2, 2021, for net cash consideration of $ 389 million. The acquisition resulted in $ 351 million of goodwill that was assigned to our Best Buy Health reporting unit and was deductible for income tax purposes. The acquisition is aligned with our focus in virtual care to enable people in their homes to connect seamlessly with their health care providers and is included in our Domestic reportable segment and Services revenue category. The acquisition was not material to the results of our operations. Two Peaks, LLC d/b/a Yardbird Furniture In fiscal 2022, we acquired all outstanding shares of Yardbird, a direct-to-consumer outdoor furniture company, on November 4, 2021, for net cash consideration of $ 79 million. The acquisition resulted in $ 47 million of goodwill that was assigned to our Best Buy Domestic reporting unit and was deductible for income tax purposes. The acquisition expands our assortment in categories like outdoor livin g and was not material to the results of our operations.

Restructuring

Restructuring	12 Months Ended
	Feb. 03, 2024
Restructuring [Abstract]
Restructuring	3. Restructuring Restructuring charges were as follows ($ in millions): 2024 2023 2022 Fiscal 2024 Restructuring Initiative $ 171 $ - $ - Fiscal 2023 Resource Optimization Initiative ( 18 ) 145 - Mexico Exit and Strategic Realignment (1) - 2 ( 41 ) Fiscal 2020 U.S. Retail Operating Model Changes - - 1 Total $ 153 $ 147 $ ( 40 ) (1) Includes ($ 6 ) million related to inventory markdowns recorded in Cost of sales on our Consolidated Statements of Earnings in fiscal 2022. Fiscal 2024 Restructuring Initiative During the fourth quarter of fiscal 2024, we commenced an enterprise-wide restructuring initiative intended to accomplish the following: (1) align field labor resources with where customers want to shop to optimize the customer experience; (2) redirect corporate resources for better alignment with our strategy; and (3) right-size resources to better align with our revenue outlook for fiscal 2025. All charges incurred related to this plan were comprised of employee termination benefits from continuing operations, including $ 163 million and $ 8 million within our Domestic and International segments, respectively, and were presented within Restructuring charges on our Consolidated Statements of Earnings. We currently expect to incur additional charges in fiscal 2025, primarily within our Domestic segment, of approximately $ 10 million to $ 30 million related to this plan. There were no cash payments related to this plan during fiscal 2024 and our termination benefits liability as of February 3, 2024, was $ 171 million, comprised of $ 163 million in our Domestic segment and $ 8 million in our International segment. We expect to pay up to $ 135 million of employee termination benefits during fiscal 2025, with the remainder being paid in fiscal 2026. Fiscal 2023 Resource Optimization Initiative During the second quarter of fiscal 2023, we commenced an enterprise-wide initiative to better align our spending with critical strategies and operations, as well as to optimize our cost structure. We do not expect to incur material future restructuring charges related to this plan. All charges incurred related to this plan were comprised of employee termination benefits from continuing operations and were presented within Restructuring charges on our Consolidated Statements of Earnings as follows ($ in millions): 2024 2023 Cumulative Amount as of February 3, 2024 Domestic $ ( 16 ) $ 140 $ 124 International ( 2 ) 5 3 Total $ ( 18 ) $ 145 $ 127 Restructuring accrual activity related to this plan was as follows ($ in millions): Domestic International Total Balances as of January 29, 2022 $ - $ - $ - Charges 145 5 150 Cash payments ( 38 ) - ( 38 ) Adjustments (1) ( 5 ) - ( 5 ) Balances as of January 28, 2023 102 5 107 Cash payments ( 70 ) ( 3 ) ( 73 ) Adjustments (1) ( 16 ) ( 2 ) ( 18 ) Balances as of February 3, 2024 $ 16 $ - $ 16 (1) Represents adjustments primarily related to higher-than-expected employee retention from previously planned organizational changes. Mexico Exit and Strategic Realignment 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 of our former stores in Mexico were closed as of the end of the first quarter of fiscal 2022. Charges incurred in our Domestic segment primarily related to actions taken to align our organizational structure in support of our strategy. We do not expect to incur material future restructuring charges related to this initiative and no material liability remains as of February 3, 2024. All charges incurred related to this plan were from continuing operations and presented as follows ($ in millions): Statement of 2022 Cumulative Amount as of February 3, 2024 Earnings Location Domestic International Total Domestic International Total Inventory markdowns Cost of sales $ - $ ( 6 ) $ ( 6 ) $ - $ 17 $ 17 Asset impairments (1) Restructuring charges - 6 6 10 63 73 Termination benefits Restructuring charges ( 40 ) ( 1 ) ( 41 ) 83 20 103 Currency translation adjustment Restructuring charges - - - - 39 39 Other (2) Restructuring charges - - - - 6 6 $ ( 40 ) $ ( 1 ) $ ( 41 ) $ 93 $ 145 $ 238 (1) Remaining net carrying value of asset impairments approximates fair value and was immaterial as of February 3, 2024. (2) Other charges are primarily comprised of contract termination costs. No material restructuring accrual activity occurred in fiscal 2024 or fiscal 2023 related to this plan.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	12 Months Ended
	Feb. 03, 2024
Goodwill and Intangible Assets [Abstract]
Goodwill and Intangible Assets	4. Goodwill and Intangible Assets Goodwill Goodwill balances by reportable segment were as follows ($ in millions): February 3, 2024 January 28, 2023 Gross Carrying Amount Cumulative Impairment Gross Carrying Amount Cumulative Impairment Domestic $ 1,450 $ ( 67 ) $ 1,450 $ ( 67 ) International 608 ( 608 ) 608 ( 608 ) Total $ 2,058 $ ( 675 ) $ 2,058 $ ( 675 ) No impairment charges were recorded for the periods presented. Definite-Lived Intangible Assets We have definite-lived intangible assets which are recorded within Other assets on our Consolidated Balance Sheets as follows ($ in millions): February 3, 2024 January 28, 2023 Weighted-Average Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Useful Life Remaining as of February 3, 2024 (in years) Customer relationships $ 360 $ 276 $ 360 $ 236 10.1 Tradenames 108 69 108 56 4.8 Developed technology 64 59 64 51 3.8 Total $ 532 $ 404 $ 532 $ 343 8.2 Amortization expense was as follows ($ in millions): Statement of Earnings Location 2024 2023 2022 Amortization expense SG&A $ 61 $ 86 $ 82 Amortization expense expected to be recognized in future periods is as follows ($ in millions): Fiscal Year Amount Fiscal 2025 $ 21 Fiscal 2026 21 Fiscal 2027 18 Fiscal 2028 12 Fiscal 2029 11 Thereafter 45

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Feb. 03, 2024
Fair Value Measurements [Abstract]
Fair Value Measurements	5. 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 accounted for at fair value were as follows ($ in millions): Fair Value Fair Value at Assets Balance Sheet Location (1) Hierarchy February 3, 2024 January 28, 2023 Money market funds (2) Cash and cash equivalents Level 1 $ 330 $ 280 Time deposits (3) Cash and cash equivalents Level 2 60 203 Money market funds (2) Other current assets Level 1 182 178 Time deposits (3) Other current assets Level 2 50 - Marketable securities that fund deferred compensation (4) Other assets Level 1 48 47 (1) Balance sheet location is determined by the length to maturity at date of purchase and whether the assets are restricted for particular use. (2) Valued at quoted market prices in active markets at period end. (3) Valued at face value plus accrued interest at period end, which approximates fair value. (4) Valued using the performance of mutual funds that trade with sufficient frequency and volume to obtain pricing information on an ongoing basis. Nonrecurring Fair Value Measurements In fiscal 2022, we recorded asset impairments related to our exit from operations in Mexico. See Note 3, Restructuring , for additional information regarding the charges incurred and the net carrying value of assets remaining. Fair Value of Financial Instruments The fair values of cash, certain restricted 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 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): February 3, 2024 January 28, 2023 Fair Value Carrying Value Fair Value Carrying Value Long-term debt (1) $ 1,022 $ 1,139 $ 1,019 $ 1,143 (1) Excludes debt discounts, issuance costs and finance lease obligations.

Derivative Instruments

Derivative Instruments	12 Months Ended
	Feb. 03, 2024
Derivative Instruments [Abstract]
Derivative Instruments	6. Derivative Instruments We manage our economic and transaction exposure to certain risks by using foreign currency forward contracts to hedge against the effect of Canadian dollar exchange rate fluctuations on a portion of our net investment in our Canadian operations and by using interest rate swaps to mitigate the effect of interest rate fluctuations on our 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 Consolidated Balance Sheets at fair value. See Note 5, 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): Notional Amount Contract Type February 3, 2024 January 28, 2023 Derivatives designated as net investment hedges $ 100 $ 114 Derivatives designated as interest rate swap contracts 500 500 No hedging designation (foreign currency forward contracts) 66 56 Total $ 666 $ 670 Effects of our derivative instruments on our Consolidated Statements of Earnings were as follows ($ in millions): Gain (Loss) Recognized Contract Type Statement of Earnings Location 2024 2023 2022 Interest rate swap contracts Interest expense $ ( 4 ) $ ( 57 ) $ ( 41 ) Adjustments to carrying value of long-term debt Interest expense 4 57 41 Total $ - $ - $ -

Leases

Leases	12 Months Ended
	Feb. 03, 2024
Leases [Abstract]
Leases	7. Leases Supplemental balance sheet information related to our leases was as follows ($ in millions): Balance Sheet Location February 3, 2024 January 28, 2023 Assets Operating leases Operating lease assets $ 2,758 $ 2,746 Finance leases Property under finance leases, net (1) 43 50 Total lease assets $ 2,801 $ 2,796 Liabilities Current: Operating leases Current portion of operating lease liabilities $ 618 $ 638 Finance leases Current portion of long-term debt 13 16 Non-current: Operating leases Long-term operating lease liabilities 2,199 2,164 Finance leases Long-term debt 21 26 Total lease liabilities $ 2,851 $ 2,844 (1) (1) Finance leases were recorded net of accumulated depreciation of $ 54 million and $ 50 million as of February 3, 2024, and January 28, 2023, respectively. Components of our total lease cost were as follows ($ in millions): Statement of Earnings Location 2024 2023 2022 Operating lease cost (1) Cost of sales and SG&A (2) $ 777 $ 780 $ 770 Finance lease cost: Depreciation of lease assets Cost of sales and SG&A (2) 16 15 13 Interest on lease liabilities Interest expense 1 1 1 Variable lease cost Cost of sales and SG&A (2) 239 233 238 Sublease income SG&A ( 11 ) ( 12 ) ( 13 ) Total lease cost $ 1,022 $ 1,017 $ 1,009 (1) (1) Includes short-term leases, which are immaterial. (2) Supply chain-related amounts are included in Cost of sales. Other information related to our leases was as follows ($ in millions): 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 772 $ 781 Operating cash flows from finance leases 1 1 Financing cash flows from finance leases 14 18 Lease assets obtained in exchange for new lease liabilities: Operating leases 717 809 Finance leases 11 18 Weighted average remaining lease term (in years): Operating leases 5.2 5.1 Finance leases 5.9 5.5 Weighted average discount rate: Operating leases 3.6 % 3.0 % Finance leases 3.9 % 3.2 % Future lease payments under our non-cancellable leases as of February 3, 2024, were as follows ($ in millions): Operating Leases (1) Finance Leases (1) Fiscal 2025 $ 708 $ 16 Fiscal 2026 675 10 Fiscal 2027 559 6 Fiscal 2028 432 3 Fiscal 2029 288 1 Thereafter 460 3 Total future undiscounted lease payments 3,122 39 Less imputed interest 305 5 Total reported lease liability $ 2,817 $ 34 (1) Lease payments exclude $ 118 million of legally binding fixed costs for leases signed but not yet commenced.

Debt

Debt	12 Months Ended
	Feb. 03, 2024
Debt [Abstract]
Debt	8. Debt Short-Term Debt U.S. Revolving Credit Facility On April 12, 2023, 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 entered into in May 2021 and scheduled to expire in May 2026, but was terminated on April 12, 2023. The Five-Year Facility Agreement permits borrowings of up to $ 1.25 billion and expires in April 2028. There were no borrowings outstanding under the Five-Year Facility Agreement as of February 3, 2024, or the Previous Facility as of January 28, 2023. The interest rate under the Five-Year Facility Agreement is variable and, absent certain events of default, is determined at our option as: (i) the sum of (a) the greatest of (1) JPMorgan Chase Bank, N.A.’s prime rate, (2) the greater of the federal funds effective rate and the overnight bank funding rate plus, in each case, 0.5 %, and (3) Adjusted Term Secured Overnight Financing Rate (the “Adjusted Term SOFR” as defined in the Five-Year Facility Agreement) for an interest period of one month plus 1 %, and (b) a variable margin rate (the “ABR Margin”); or (ii) Adjusted Term SOFR for the applicable interest period plus a variable margin rate (the “Term SOFR Margin”). In addition, a facility fee is assessed on the commitment amount. The ABR Margin, Term SOFR Margin and the facility fee are based upon our current senior unsecured debt rating. Under the Five-Year Facility Agreement, the ABR Margin ranges from 0.00 % to 0.100 %, the Term SOFR Margin ranges from 0.680 % to 1.100 %, and the facility fee ranges from 0.070 % to 0.150 %. The Five-Year Facility Agreement is guaranteed by certain of our subsidiaries and contains customary affirmative and negative covenants. Among other things, these covenants restrict our and certain of our subsidiaries’ abilities to incur liens on certain assets, make material changes in corporate structure or materially alter the nature of our business, dispose of material assets, engage in mergers, consolidations and certain other fundamental changes, or engage in certain transactions with affiliates. The Five-Year Facility Agreement also contains a covenant that requires the registrant to maintain a maximum quarterly cash flow leverage ratio. The Five-Year Facility Agreement contains customary default provisions, including, but not limited to, failure to pay interest or principal when due and failure to comply with covenants. Long-Term Debt Long-term debt consisted of the following ($ in millions): February 3, 2024 January 28, 2023 2028 Notes $ 500 $ 500 2030 Notes 650 650 Interest rate swap valuation adjustments ( 11 ) ( 7 ) Subtotal 1,139 1,143 Debt discounts and issuance costs ( 8 ) ( 9 ) Finance lease obligations 34 42 Total long-term debt 1,165 1,176 Less: current portion 13 16 Total long-term debt, less current portion $ 1,152 $ 1,160 2028 Notes In September 2018, we issued $ 500 million principal amount of notes due October 1, 2028 (the “2028 Notes”). The 2028 Notes bear interest at a fixed rate of 4.45 % per year, payable semi-annually on April 1 and October 1 of each year, beginning on April 1, 2019. Net proceeds from the issuance were $ 495 million after underwriting and issuance discounts totaling $ 5 million. We may redeem some or all of the 2028 Notes at any time at a redemption price equal to the greater of (i) 100 % of the principal amount, and (ii) the sum of the present values of each remaining scheduled payment of principal and interest discounted to the redemption date on a semiannual basis, plus accrued and unpaid interest on the principal amount to the redemption date as described in the indenture (including the supplemental indenture) relating to the 2028 Notes. Furthermore, if a change of control triggering event occurs, we will be required to offer to purchase the remaining unredeemed 2028 Notes at a price equal to 101 % of their principal amount, plus accrued and unpaid interest to the purchase date. The 2028 Notes are unsecured and unsubordinated obligations and rank equally with all of our other unsecured and unsubordinated debt. The 2028 Notes contain covenants that, among other things, limit our ability to incur debt secured by liens or to enter into sale and lease-back transactions. 2030 Notes In October 2020, we issued $ 650 million principal amount of notes due October 1, 2030, (the “2030 Notes”) that bear interest at a fixed rate of 1.95 % per year, payable semi-annually on April 1 and October 1 of each year, beginning on April 1, 2021. Net proceeds from the issuance were $ 642 million after underwriting and issuance discounts totaling $ 8 million. We may redeem some or all of the 2030 Notes at any time at a redemption price equal to the greater of (i) 100 % of the principal amount, and (ii) the sum of the present values of each remaining scheduled payment of principal and interest discounted to the redemption date on a semiannual basis, plus accrued and unpaid interest on the principal amount to the redemption date as described in the indenture (including the supplemental indenture) relating to the 2030 Notes. Furthermore, if a change of control triggering event occurs, we will be required to offer to purchase the remaining unredeemed 2030 Notes at a price equal to 101 % of their principal amount, plus accrued and unpaid interest to the purchase date. The 2030 Notes are unsecured and unsubordinated obligations and rank equally with all of our other unsecured and unsubordinated debt. The 2030 Notes contain covenants that, among other things, limit our ability to incur debt secured by liens or to enter into sale and lease-back transactions. Fair Value and Future Maturities See Note 5, Fair Value Measurements , for the fair value of long-term debt. Other than our 2028 Notes, we do no t have any future maturities of long-term debt within the next five fiscal years.

Shareholders' Equity

Shareholders' Equity	12 Months Ended
	Feb. 03, 2024
Shareholders' Equity [Abstract]
Shareholders' Equity	9. Shareholders’ Equity Stock Compensation Plans The Best Buy Co., Inc. 2020 Omnibus Incentive Plan (the “2020 Plan”) approved by shareholders in June 2020 authorizes us to issue up to 18.6 million shares plus the remaining unused shares available for issuance under the Best Buy Co., Inc. Amended and Restated 2014 Omnibus Incentive Plan (the “2014 Plan”). In addition, shares subject to any outstanding awards under our prior stock incentive plans that are forfeited, cancelled or reacquired by the Company are available for reissuance under the 2020 Plan. The 2014 Plan was terminated as to the grant of any additional awards, but prior awards remain outstanding and continue to vest in accordance with the original terms of such plan. The 2020 Plan authorizes us to grant or issue non-qualified stock options, incentive stock options, stock appreciation rights, restricted stock, restricted stock units and other equity awards. We have not granted incentive stock options. Under the terms of the 2020 Plan, awards may be granted to our employees, officers, advisers, consultants and directors. Awards issued under the 2020 Plan vest as determined by the Compensation and Human Resources Committee of our Board of Directors (“Board”) at the time of grant. Dividend equivalents accrue on restricted stock and restricted stock units during the vesting period, are forfeitable prior to the vesting date and are settled in shares of our common stock at the vesting or distribution date. As of February 3, 2024, a total of 13.0 million shares were available for future grants under the 2020 Plan. Stock-based compensation expense was as follows ($ in millions): 2024 2023 2022 Share awards: Time-based $ 126 $ 121 $ 109 Market-based 19 14 12 Performance-based - - 17 Stock options - 3 3 Stock-based compensation expense 145 138 141 Income tax benefits 27 27 26 Stock-based compensation expense, net of tax $ 118 $ 111 $ 115 Time-Based Share Awards Time-based share awards vest solely upon continued employment, generally 33 % on each of the three annual anniversary dates following the grant date. Time-based share awards to directors vest one year from the date of grant. Information on our time-based share awards was as follows (shares in thousands): Time-Based Share Awards Shares Weighted-Average Fair Value per Share Outstanding as of January 28, 2023 3,046 $ 90.96 Granted 2,003 $ 77.70 Vested and distributed ( 1,476 ) $ 85.71 Forfeited ( 307 ) $ 91.83 Outstanding as of February 3, 2024 3,266 $ 85.71 The total fair value vested and distributed during fiscal 2024, fiscal 2023 and fiscal 2022 was $ 114 million, $ 159 million and $ 194 million, respectively. The actual tax benefits realized for the tax deductions related to vesting in fiscal 2024, fiscal 2023 and fiscal 2022 were $ 24 million, $ 33 million and $ 41 million, respectively. As of February 3, 2024, there was $ 140 million of unrecognized compensation expense related to non-vested time-based share awards that we expect to recognize over a weighted-average period of 1.8 years. Market-Based Share Awards Market-based share awards vest at the end of a three-year incentive period based upon our total shareholder return ("TSR") compared to the TSR of companies that comprise Standard & Poor's 500 Index. The number of shares of common stock that could be distributed at the end of the three-year TSR-incentive period may range from 0 % to 150 % of each share granted (“target”). Shares are granted at 100 % of target. Information on our market-based share awards was as follows (shares in thousands): Market-Based Share Awards Shares Weighted-Average Fair Value per Share Outstanding as of January 28, 2023 514 $ 96.61 Granted 267 $ 86.95 Adjustment for performance achievement ( 178 ) $ 53.18 Forfeited ( 24 ) $ 98.03 Outstanding as of February 3, 2024 579 $ 106.38 Distributions of market-based share awards in fiscal 2024 were not significant. The total fair value distributed during fiscal 2023 and fiscal 2022 was $ 18 million and $ 27 million, respectively. The actual tax benefits realized for the tax deductions related to distributions were $ 2 million and $ 3 million in fiscal 2023 and fiscal 2022, respectively. As of February 3, 2024, there was $ 21 million of unrecognized compensation expense related to non-vested market-based share awards that we expect to recognize over a weighted-average period of 1.7 years. Performance-Based Share Awards Performance-based share awards generally vest upon the achievement of company performance goals based upon certain revenue or profitability measures. For revenue-based performance awards, the number of shares of common stock that could be distributed at the end of the incentive period may range from 0 % to 150 % of each share granted (“target”). Shares are granted at 100 % of target. Awards based on profitability measures vest 33 % on each of the three annual anniversary dates following the grant date if the measure of profitability goal has been met. Information on our performance-based share awards was as follows (shares in thousands): Performance-Based Share Awards Shares Weighted-Average Fair Value per Share Outstanding as of January 28, 2023 288 $ 67.36 Granted 2 $ 111.87 Adjustment for performance achievement ( 46 ) $ 51.79 Distributed ( 195 ) $ 61.07 Forfeited ( 4 ) $ 77.40 Outstanding as of February 3, 2024 45 $ 111.68 The total fair value distributed during fiscal 2024, fiscal 2023 and fiscal 2022 was $ 15 million, $ 37 million and $ 43 million, respectively. The actual tax benefits realized for the tax deductions related to distributions in fiscal 2024, fiscal 2023 and fiscal 2022 were $ 1 million, $ 3 million and $ 3 million, respectively. As of February 3, 2024, there was less than $ 1 million of unrecognized compensation expense related to non-vested performance-based share awards that we expect to recognize over a weighted-average period of 0.2 years. Stock Options Our outstanding stock options have a 10 -year term and generally vest 33 % on each of the three annual anniversary dates following the grant date. All outstanding stock options were vested and exercisable as of February 3, 2024. Information on our stock options was as follows: Stock Options (in thousands) Weighted-Average Exercise Price per Share Weighted-Average Remaining Contractual Term (in years) Aggregate Intrinsic Value (in millions) Outstanding as of January 28, 2023 720 $ 60.91 Exercised ( 152 ) $ 62.97 Forfeited ( 39 ) $ 69.11 Outstanding as of February 3, 2024 529 $ 59.71 4.9 $ 8 No stock options were granted in the fiscal years presented. The aggregate intrinsic value of our stock options (the amount by which the market price of the stock on the date of exercise exceeded the exercise price of the option) exercised during fiscal 2024, fiscal 2023 and fiscal 2022 was $ 2 million, $ 6 million and $ 19 million, respectively. As of February 3, 2024, there was no unrecognized compensation expense related to stock options that we expect to recognize. Net cash proceeds from the exercise of stock options were $ 9 million, $ 4 million and $ 18 million in fiscal 2024, fiscal 2023 and fiscal 2022, respectively. Income tax benefits realized from stock option exercises were immaterial for all periods presented. 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 the potentially dilutive common shares been issued. Potentially dilutive securities include stock options and non-vested share awards. Non-vested market-based share awards and non-vested performance-based share awards are included in the average diluted shares outstanding each period if established market or performance criteria have been met at the end of the respective periods. As of February 3, 2024, all outstanding options to purchase common stock were exercisable and in-the-money, with a weighted-average price per share of $ 59.71 . Reconciliations of the numerators and denominators of basic and diluted earnings per share were as follows ($ and shares in millions, except per share amounts): 2024 2023 2022 Numerator Net earnings $ 1,241 $ 1,419 $ 2,454 Denominator Weighted-average common shares outstanding 217.7 224.8 246.8 Dilutive effect of stock compensation plan awards 0.8 0.9 2.5 Weighted-average common shares outstanding, assuming dilution 218.5 225.7 249.3 Potential shares which were anti-dilutive and excluded from weighted-average share computations - 0.7 0.1 Basic earnings per share $ 5.70 $ 6.31 $ 9.94 Diluted earnings per share $ 5.68 $ 6.29 $ 9.84 Repurchase of Common Stock On February 28, 2022, our Board approved a $ 5.0 billion share repurchase program, which replaced the $ 5.0 billion share repurchase program authorized on February 16, 2021. The program had $ 3,784 million remaining available for repurchases as of February 3, 2024. There is no expiration date governing the period over which we can repurchase shares under this authorization. Information regarding the shares we repurchased and retired was as follows ($ and shares in millions, except per share amounts): 2024 2023 2022 Total cost of shares repurchased $ 340 $ 1,001 $ 3,504 Average price per share $ 72.52 $ 84.78 $ 108.97 Number of shares repurchased and retired 4.7 11.8 32.2 We currently expect to spend approximately $ 350 million on share repurchases in fiscal 2025.

Revenue

Revenue	12 Months Ended
	Feb. 03, 2024
Revenue [Abstract]
Revenue	10. Revenue We generate substantially all of our revenue from contracts with customers from the sale of products and services. Contract balances primarily consist of receivables and liabilities related to unfulfilled membership benefits and services not yet completed, product merchandise not yet delivered to customers, deferred revenue from our private label and co-branded credit card arrangement and unredeemed gift cards. Contract balances were as follows ($ in millions): February 3, 2024 January 28, 2023 Receivables (1) $ 512 $ 581 Short-term contract liabilities included in: Unredeemed gift cards 253 274 Deferred revenue 1,000 1,116 Accrued liabilities 53 66 Long-term contract liabilities included in: Long-term liabilities 245 265 (1) Receivables are recorded net of allowances for doubtful accounts of $ 23 million and $ 22 million as of February 3, 2024, and January 28, 2023, respectively. During fiscal 2024 and fiscal 2023, $ 1,283 million and $ 1,346 million of revenue was recognized, respectively, that was included in the contract liabilities at the beginning of the respective periods. Estimated revenue from our contract liability balances expected to be recognized in future periods if the performance of the contract is expected to have an initial duration of more than one year is as follows ($ in millions): Fiscal Year Amount Fiscal 2025 $ 33 Fiscal 2026 33 Fiscal 2027 25 Fiscal 2028 25 Fiscal 2029 25 Thereafter 137 See Note 14, Segment and Geographic Information , for information on our revenue by reportable segment and product category.

Income Taxes

Income Taxes	12 Months Ended
	Feb. 03, 2024
Income Taxes [Abstract]
Income Taxes	11. Income Taxes Reconciliations of the federal statutory income tax rate to income tax expense were as follows ($ in millions): 2024 2023 2022 Federal income tax at the statutory rate $ 340 $ 376 $ 635 State income taxes, net of federal benefit 57 63 88 Change in unrecognized tax benefits ( 6 ) ( 45 ) ( 88 ) Benefit from foreign operations ( 8 ) ( 4 ) ( 8 ) Other ( 2 ) ( 20 ) ( 53 ) Income tax expense $ 381 $ 370 $ 574 Effective income tax rate 23.5 % 20.7 % 19.0 % Earnings before income tax expense and equity in income of affiliates by jurisdiction were as follows ($ in millions): 2024 2023 2022 United States $ 1,389 $ 1,533 $ 2,677 Foreign 232 255 347 Earnings before income tax expense and equity in income of affiliates $ 1,621 $ 1,788 $ 3,024 Income tax expense (benefit) was comprised of the following ($ in millions): 2024 2023 2022 Current: Federal $ 452 $ 213 $ 367 State 104 64 132 Foreign 39 42 61 595 319 560 Deferred: Federal ( 177 ) 33 22 State ( 37 ) 19 ( 9 ) Foreign - ( 1 ) 1 ( 214 ) 51 14 Income tax expense $ 381 $ 370 $ 574 Deferred taxes are the result of differences between the bases of assets and liabilities for financial reporting and income tax purposes. Deferred tax assets and liabilities were comprised of the following ($ in millions): February 3, 2024 January 28, 2023 Deferred revenue $ 127 $ 67 Compensation and benefits 91 41 Stock-based compensation 32 29 Other accrued expenses 45 47 Operating lease liabilities 730 729 Loss and credit carryforwards 173 161 Other 42 43 Total deferred tax assets 1,240 1,117 Valuation allowance ( 175 ) ( 150 ) Total deferred tax assets after valuation allowance 1,065 967 Inventory ( 45 ) ( 37 ) Property and equipment ( 49 ) ( 169 ) Operating lease assets ( 701 ) ( 698 ) Goodwill and intangibles ( 81 ) ( 71 ) Other ( 22 ) ( 39 ) Total deferred tax liabilities ( 898 ) ( 1,014 ) Net deferred tax assets (liabilities) $ 167 $ ( 47 ) Deferred taxes were presented as follows ($ in millions): Balance Sheet Location February 3, 2024 January 28, 2023 Other assets $ 167 $ 4 Long-term liabilities - ( 51 ) Net deferred tax assets (liabilities) $ 167 $ ( 47 ) As of February 3, 2024, we had deferred tax assets for net operating loss carryforwards from international operations of $ 118 million, of which $ 32 million will expire in various years through 2040 and the remaining amounts have no expiration; acquired U.S. federal net operating loss carryforwards of $ 5 million, of which $ 2 million will expire in various years between 2025 and 2029 and the remaining amounts have no expiration; U.S. federal foreign tax credit carryforwards of $ 29 million, which will expire between 2025 and 2034; state credit carryforwards of $ 2 million, which will expire between 2025 and 2033; state net operating loss carryforwards of $ 10 million, which will expire between 2025 and 2044; international credit carryforwards of $ 1 million, which have no expiration; and international capital loss carryforwards of $ 8 million, which have no expiration. As of February 3, 2024, a valuation allowance of $ 175 million had been established, of which $ 29 million is against U.S. federal foreign tax credit carryforwards, $ 14 million is against international, federal and state capital loss carryforwards, $ 124 million is against international and state net operating loss carryforwards, $ 1 million is against international and state credit carryforwards, and $ 7 million is against other foreign deferred tax assets. The increase in fiscal 2024 was primarily due to current year loss activity from international net operating loss carryforwards, and the set-up of additional valuation allowances against U.S. federal foreign tax credit and capital loss carryforwards and certain foreign deferred tax assets. These increases were partially offset by disposals and releases relating to certain international net operating loss carryforwards. Reconciliations of changes in unrecognized tax benefits were as follows ($ in millions): (1) (1) 2024 2023 2022 Balances at beginning of period $ 163 $ 235 $ 327 Gross increases related to prior period tax positions 10 28 3 Gross decreases related to prior period tax positions (1) ( 11 ) ( 75 ) ( 103 ) Gross increases related to current period tax positions 20 21 28 Settlements with taxing authorities ( 3 ) - ( 7 ) Lapse of statute of limitations ( 39 ) ( 46 ) ( 13 ) Balances at end of period $ 140 $ 163 $ 235 (1) Represents multi-jurisdiction, multi-year resolutions of certain discrete tax matters. Unrecognized tax benefits of $ 121 million, $ 141 million and $ 214 million as of February 3, 2024, January 28, 2023, and January 29, 2022, respectively, would favorably impact our effective income tax rate if recognized. We recognize interest and penalties (not included in the “unrecognized tax benefits” above), as well as interest received from favorable tax settlements, as components of income tax expense. Interest expense of $ 3 million, interest income of $ 6 million and interest income of $ 20 million was recognized in fiscal 2024, fiscal 2023 and fiscal 2022, respectively. As of February 3, 2024, January 28, 2023, and January 29, 2022, we had accrued interest of $ 43 million, $ 42 million and $ 46 million, respectively. We file a consolidated U.S. federal income tax return, as well as income tax returns in various states and foreign jurisdictions. With few exceptions, we are no longer subject to U.S. federal, state and local, or non-U.S. income tax examinations by taxing authorities for years before fiscal 2014. Changes in state, federal and foreign tax laws may increase or decrease our tax contingencies. The timing of the resolution of income tax examinations and controversies is highly uncertain, and the amounts ultimately paid, if any, upon resolution of the issues raised by the taxing authorities may differ from the amounts accrued. It is reasonably possible that within the next twelve months we will receive additional assessments by various taxing authorities or reach resolutions of income tax examinations or controversies in one or more jurisdictions. These assessments, resolutions or law changes could result in changes to our gross unrecognized tax benefits. The actual amount of any changes could vary significantly depending on the ultimate timing and nature of any assessments, resolutions or law changes. An estimate of the amount or range of such changes cannot be made at this time.

Benefit Plans

Benefit Plans	12 Months Ended
	Feb. 03, 2024
Benefit Plans [Abstract]
Benefit Plans	12. Benefit Plans We sponsor retirement savings plans for employees meeting certain eligibility requirements. Participants may choose from various investment options, including a fund comprised of our company stock. Participants can contribute up to 50 % of their eligible compensation annually as defined by the plan document, subject to Internal Revenue Service limitations. We match 100 % of the first 3 % of participating employees’ contributions and 50 % of the next 2 %. Employer contributions vest immediately. Total employer contributions were $ 76 million, $ 77 million and $ 77 million in fiscal 2024, fiscal 2023 and fiscal 2022, respectively. We offer a non-qualified, unfunded deferred compensation plan for highly-compensated employees and members of our Board. Amounts contributed and deferred under the plan are invested in options offered under the plan and elected by the participants. The liability for compensation deferred under the plan was $ 24 million and $ 20 million as of February 3, 2024, and January 28, 2023, respectively, and is included in Long-term liabilities on our Consolidated Balance Sheets. See Note 5, Fair Value Measurements , for the fair value of assets held for deferred compensation.

Contingencies and Commitments

Contingencies and Commitments	12 Months Ended
	Feb. 03, 2024
Contingencies and Commitments [Abstract]
Contingencies and Commitments	13. Contingencies and Commitments 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 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 Consolidated Financial Statements. We had outstanding letters of credit totaling $ 71 million as of February 3, 2024.

Segment and Geographic Informat

Segment and Geographic Information	12 Months Ended
	Feb. 03, 2024
Segment and Geographic Information [Abstract]
Segment and Geographic Information	14. Segment and Geographic Information Reportable segment and product category revenue information was as follows ($ in millions): 2024 2023 2022 Revenue by reportable segment Domestic $ 40,097 $ 42,794 $ 47,830 International 3,355 3,504 3,931 Total revenue $ 43,452 $ 46,298 $ 51,761 2024 2023 2022 Revenue by product category Domestic: Computing and Mobile Phones $ 16,930 $ 18,191 $ 20,693 Consumer Electronics 12,014 13,040 15,009 Appliances 5,469 6,381 6,784 Entertainment 3,063 2,786 2,963 Services 2,357 2,149 2,190 Other 264 247 191 Total Domestic revenue $ 40,097 $ 42,794 $ 47,830 International: Computing and Mobile Phones $ 1,552 $ 1,575 $ 1,785 Consumer Electronics 955 1,054 1,194 Appliances 335 355 383 Entertainment 300 267 312 Services 173 183 190 Other 40 70 67 Total International revenue $ 3,355 $ 3,504 $ 3,931 Operating income by reportable segment and the reconciliation to consolidated earnings before income tax expense and equity in income of affiliates, as well as asset information by reportable segment, were as follows ($ in millions): 2024 2023 2022 Operating income by reportable segment Domestic (1) $ 1,467 $ 1,634 $ 2,795 International 107 161 244 Total operating income 1,574 1,795 3,039 Other income (expense): Gain on sale of subsidiary, net 21 - - Investment income and other 78 28 10 Interest expense ( 52 ) ( 35 ) ( 25 ) Earnings before income tax expense and equity in income of affiliates $ 1,621 $ 1,788 $ 3,024 Assets Domestic $ 13,660 $ 14,549 $ 16,016 International 1,307 1,254 1,488 Total assets $ 14,967 $ 15,803 $ 17,504 Capital expenditures Domestic $ 760 $ 891 $ 691 International 35 39 46 Total capital expenditures $ 795 $ 930 $ 737 Depreciation Domestic $ 819 $ 787 $ 738 International 43 45 49 Total depreciation $ 862 $ 832 $ 787 (1) Domestic operating income includes certain operations that are based in foreign tax jurisdictions and primarily relate to sourcing products into the U.S. Geographic information was as follows ($ in millions): 2024 2023 2022 Revenue from external customers U.S. $ 40,097 $ 42,794 $ 47,830 Canada 3,355 3,504 3,911 Other - - 20 Total revenue from external customers $ 43,452 $ 46,298 $ 51,761 Property and equipment, net U.S. $ 2,157 $ 2,243 $ 2,128 Canada 102 107 120 Other 1 2 2 Total property and equipment, net $ 2,260 $ 2,352 $ 2,250

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Feb. 03, 2024
Summary of Significant Accounting Policies [Abstract]
Description of Business	Description of Business We are driven by our purpose to enrich lives through technology and our vision to personalize and humanize technology solutions for every stage of life. We accomplish this by leveraging our combination of technology and a human touch to meet our customers’ everyday needs, whether they come to us online, visit our stores or invite us into their homes. We have operations in the U.S. and Canada. We have two reportable segments: Domestic and International. The Domestic segment is comprised of our operations in all states, districts and territories of the U.S. and our Best Buy Health business, and includes the brand names Best Buy, Best Buy Ads, Best Buy Business, Best Buy Health, CST, Current Health, Geek Squad, Lively, Magnolia, Pacific Kitchen and Home, TechLiquidators and Yardbird and the domain names bestbuy.com, currenthealth.com, lively.com, techliquidators.com and yardbird.com. Our International segment is comprised of all operations in Canada under the brand names Best Buy, Best Buy Mobile and Geek Squad and the domain name bestbuy.ca. In fiscal 2022, we acquired all of the outstanding shares of Current Health Ltd. (“Current Health”) and Two Peaks, LLC d/b/a Yardbird Furniture (“Yardbird”). Refer to Note 2, Acquisitions , for additional information. In fiscal 2024, we completed the sale of a Mexico subsidiary subsequent to our exit from operations in Mexico and recognized a $ 21 million gain within Gain on sale of subsidiary, net on our Consolidated Statements of Earnings. Refer to Note 3, Restructuring , for additional information regarding our exit from operations in Mexico.
Basis of Presentation	Basis of Presentation The consolidated financial statements include the accounts of Best Buy Co., Inc. and its consolidated subsidiaries. All intercompany balances and transactions are eliminated upon consolidation.
Use of Estimates in the Preparation of Financial Statements	Use of Estimates in the Preparation of Financial Statements The preparation of financial statements in conformity with accounting principles generally accepted in the U.S. ("GAAP") requires us to make estimates and assumptions. These estimates and assumptions affect the reported amounts in the consolidated financial statements, as well as the disclosure of contingent liabilities. Future results could be materially affected if actual results were to differ from these estimates and assumptions.
Fiscal Year	Fiscal Year Our fiscal year ends on the Saturday nearest the end of January. Fiscal 2024, fiscal 2023 and fiscal 2022 ended February 3, 2024, January 28, 2023, and January 29, 2022, respectively. Unless otherwise noted, references to years in these notes to consolidated financial statements relate to fiscal years, and not calendar years. Fiscal 2024 included 53 weeks with the 53 rd week occurring in the fiscal fourth quarter. Fiscal 2023 and fiscal 2022 each included 52 weeks.
Adopted Accounting Pronouncements and New Accounting Pronouncements and Disclosure Rules	Adopted Accounting Pronouncements In the first quarter of fiscal 2024, we adopted the Accounting Standards Update (“ASU”) 2022-04, Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations . ASU 2022-04 requires entities to disclose the key terms of the supplier finance programs they use in connection with the purchase of goods and services, along with the amount of obligations outstanding at the end of each period. Beginning in fiscal 2025, an annual roll-forward of such obligations is also required. Below are the applicable disclosures as a result of ASU 2022-04. Supply Chain Financing We have a supply chain financing program with an independent financial institution, whereby some of our suppliers have the opportunity to receive accounts payable settlements early, at a discount, facilitated by the financial institution. Under this program, the financial institution agrees to terms with our suppliers, including amounts that are eligible for early payment, the timing of such payments and the discounts. The financial institution then pays the supplier based on the payment terms agreed to. Suppliers’ participation in this program is at their own option. The financial institution can vary discounts offered at their own discretion. Our rights and obligations to our suppliers – which are typically formalized in standardized agreements – are not affected by the existence of the program. Our liability associated with the funded participation in the program, which is included in Accounts payable on our Consolidated Balance Sheets, was $ 426 million and $ 386 million as of February 3, 2024, and January 28, 2023, respectively. New Accounting Pronouncements and Disclosure Rules In November 2023, the Financial Accounting Standards Board (“FASB”) issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , which enhances reportable segment disclosure requirements primarily through expanded disclosures around significant segment expenses. The amendments are effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024. The amendments should be applied retrospectively to all prior periods presented in the financial statements. We are currently evaluating the impact of the ASU and expect to include updated segment expense disclosures in our fiscal 2025 Form 10-K. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires disclosure of specific categories meeting a quantitative threshold within the income tax rate reconciliation, as well as disaggregation of income taxes paid by jurisdiction. This ASU, which can be applied either prospectively or retrospectively, is effective for annual periods beginning after December 15, 2024, with early adoption permitted. We are currently evaluating the impact of the ASU and expect to include updated income tax disclosures in our fiscal 2026 Form 10-K. In March 2024, the U.S. Securities and Exchange Commission issued its final climate disclosure rule, which requires the disclosure of Scope 1 and Scope 2 greenhouse gas emissions and other climate-related topics in annual reports and registration statements, when material. Disclosure requirements will begin phasing in for fiscal years beginning on or after January 1, 2025. We are currently evaluating the impact of the new rule and expect to include updated climate-related disclosures in our fiscal 2026 Form 10-K.
Segment Information	Segment Information Our business is organized into two reportable segments: Domestic (which is comprised of all states, districts and territories of the U.S. and our Best Buy Health business ) and International (which is comprised of all operations in Canada). Our chief operating decision maker (“CODM”) is our Chief Executive Officer. Our CODM has ultimate responsibility for enterprise decisions, including determining resource allocation for, and monitoring the performance of, the consolidated enterprise, the Domestic reportable segment and the International reportable segment.
Business Combinations	Business Combinations We account for business combinations under the acquisition method of accounting. This method requires the recording of acquired assets and assumed liabilities at their acquisition date fair values. The excess of the purchase price over the fair value of assets acquired and liabilities assumed is recorded as goodwill. Results of operations related to business combinations are included prospectively beginning with the date of acquisition and transaction costs related to business combinations are recorded within Selling, general and administrative expenses (“SG&A”) on our Consolidated Statements of Earnings.
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted Cash Cash, cash equivalents and restricted cash reported on our Consolidated Balance Sheets are reconciled to the total shown on our Consolidated Statements of Cash Flows as follows ($ in millions): February 3, 2024 January 28, 2023 January 29, 2022 Cash and cash equivalents $ 1,447 $ 1,874 $ 2,936 Restricted cash included in Other current assets 346 379 269 Total cash, cash equivalents and restricted cash $ 1,793 $ 2,253 $ 3,205 Cash equivalents consist of highly liquid investments with original maturities of three months or less. Amounts included in restricted cash are primarily restricted to cover product protection plans provided under our membership offerings and other self-insurance liabilities.
Receivables	Receivables Receivables consist primarily of amounts due from banks for customer credit card and debit card transactions, vendors for various vendor funding programs, mobile phone network operators for device sales and commissions, and online marketplace partnerships. Receivables are stated at their carrying values, net of a reserve for expected credit losses, which is primarily based on historical collection trends. Our allowances for uncollectible receivables were $ 32 million and $ 30 million as of February 3, 2024, and January 28, 2023, respectively. We had $ 43 million and $ 41 million of write-offs in fiscal 2024 and fiscal 2023, respectively.
Merchandise Inventories	Merchandise Inventories Merchandise inventories are recorded at the lower of cost or net realizable value. The weighted-average method is used to determine the cost of inventory which includes costs of in-bound freight to move inventory into our distribution centers. Also included as a reduction to the cost of inventory are certain vendor allowances. Costs associated with storing and transporting merchandise inventories to our retail stores are expensed as incurred and included within Cost of sales on our Consolidated Statements of Earnings. Our inventory valuation also reflects markdown adjustments for the excess of the cost over the net recovery we expect to realize from the ultimate disposition of inventory, including consideration of any rights we may have to return inventory to vendors for a refund, and establishes a new cost basis. Subsequent changes in facts or circumstances do not result in the reversal of previously recorded markdown adjustments or an increase in the newly established cost basis. Our inventory valuation reflects adjustments for physical inventory losses (resulting from, for example, theft). Physical inventory is maintained through a combination of full location counts and more regular cycle counts.
Property and Equipment	Property and Equipment Property and equipment is recorded at cost. We depreciate property and equipment to its residual value using the straight-line method over the estimated useful lives of the assets. Leasehold improvements are depreciated over the shorter of their estimated useful lives or the period from the date the assets are placed in service to the end of the lease term, which includes optional renewal periods if they are reasonably certain. Accelerated depreciation methods are generally used for income tax purposes. When property is retired or otherwise disposed of, the cost and accumulated depreciation are removed from our Consolidated Balance Sheets and any resulting gain or loss is reflected on our Consolidated Statements of Earnings. Repairs and maintenance costs are expensed as incurred. Major renewals or replacements that substantially extend the useful life of an asset are capitalized and depreciated. Costs associated with the acquisition or development of software for internal use are capitalized and amortized over the expected useful life of the software, generally from two year s to five year s. A subsequent addition, modification or upgrade to internal-use software is capitalized to the extent that it enhances the software's functionality. Capitalized software is included in Fixtures and equipment on our Consolidated Balance Sheets. Software maintenance and training costs are expensed in the period incurred. The costs of developing software for sale to customers are expensed as incurred until technological feasibility is established, which generally leads to expensing substantially all costs. Costs associated with implementing cloud computing arrangements that are service contracts are capitalized using methodology similar to internal-use software, but are included in Other assets on our Consolidated Balance Sheets. Estimated useful lives by major asset category are as follows (in years): Asset Category Useful Life Buildings 5 - 35 Leasehold improvements 5 - 10 Fixtures and equipment 2 - 15
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets Long-lived assets are evaluated for impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. When evaluating long-lived assets with impairment indicators for potential impairment, we first compare the carrying value of the asset to its estimated undiscounted future cash flows. If the sum of the estimated undiscounted future cash flows is less than the carrying value of the asset, we calculate an impairment loss. The impairment loss calculation compares the carrying value of the asset to its estimated fair value, which is typically based on estimated discounted future cash flows. We recognize an impairment loss if the amount of the asset’s carrying value exceeds the asset’s estimated fair value. We evaluate locations for triggering events on a quarterly basis. For store locations, our primary indicator that asset carrying values may not be recoverable is negative store operating income for the most recent 12-month period. We also monitor other factors when evaluating store locations for impairment, including significant changes in the manner of use or expected life of the assets or significant changes in our business strategies. When reviewing long-lived assets for impairment, we group long-lived assets with other assets and liabilities at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. For example, long-lived assets deployed at store locations are reviewed for impairment at either the individual store level or at the local market level. Such reviews involve comparing the net carrying value of all assets to the net cash flow projections for each store or market. In addition, we conduct separate impairment reviews at other levels as appropriate, for example, to evaluate the potential impairment of assets shared by several areas of operations, such as information technology systems.
Leases	Leases The majority of our lease obligations are real estate operating leases used in our retail and distribution operations. Our finance leases are primarily equipment-related. For any lease with an initial term in excess of 12 months, the related lease assets and liabilities are recognized on our Consolidated Balance Sheets as either operating or finance leases at the inception of an agreement where it is determined that a lease exists. We have lease agreements that contain both lease and non-lease components. For lease agreements entered into or reassessed after the adoption of Accounting Standard’s Codification 842, Leases , in fiscal 2020, we have elected to combine lease and non-lease components for all classes of assets. Leases with an initial term of 12 months or less are not recorded on our Consolidated Balance Sheets; we recognize lease expense for these leases on a straight-line basis over the lease term. Operating lease assets represent the right to use an underlying asset for the lease term and operating lease liabilities represent the obligation to make lease payments arising from the lease. These assets and liabilities are recognized based on the present value of future payments over the lease term at the commencement date. We estimate the incremental borrowing rate for each lease based on an evaluation of our credit ratings and the prevailing market rates for collateralized debt in a similar economic environment with similar payment terms and maturity dates commensurate with the terms of the lease. Our operating leases also typically require payment of real estate taxes, common area maintenance and insurance. These components comprise the majority of our variable lease cost and are excluded from the present value of our lease obligations. In instances where they are fixed, they are included due to our election to combine lease and non-lease components. Operating lease assets also include prepaid lease payments and initial direct costs and are reduced by lease incentives. We generally do not include options to extend or terminate a lease unless it is reasonably certain that the option will be exercised. Fixed payments may contain predetermined fixed rent escalations. We recognize the related rent expense on a straight-line basis from the commencement date to the end of the lease term.
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill Goodwill is the excess of the purchase price over the fair value of identifiable net assets acquired in business combinations. We test goodwill for impairment annually in the fiscal fourth quarter or whenever events or circumstances indicate the carrying value may not be recoverable. We monitor the existence of potential impairment indicators throughout the fiscal year. We test for goodwill impairment at the reporting unit level. Reporting units are determined by identifying components of operating segments which constitute businesses for which discrete financial information is available and is regularly reviewed by segment management. We have goodwill in two reporting units – Best Buy Domestic and Best Buy Health – with carrying values of $ 492 million and $ 891 million, respectively, as of February 3, 2024, and January 28, 2023. Our detailed impairment testing involves comparing the fair value of each reporting unit with its carrying value, including goodwill. Fair value reflects the price a potential market participant would be willing to pay for the reporting unit in an arms-length transaction and typically requires analysis of discounted cash flows and market data, such as revenue multiples and quoted market prices. If the fair value of a reporting unit exceeds its carrying value, we conclude that no goodwill impairment has occurred. If the carrying value of a reporting unit exceeds its fair value, we recognize an impairment loss in an amount equal to the excess, not to exceed the total amount of goodwill allocated to that reporting unit. Intangible Assets Our valuation of identifiable intangible assets acquired is based on information and assumptions available to us at the time of acquisition, using income and market approaches to determine fair value, as appropriate. We amortize our definite-lived intangible assets over the estimated useful lives of the assets. We review these assets for impairment whenever events or changes in circumstances indicate that the carrying amount of these assets might not be recoverable and monitor for the existence of potential impairment indicators throughout the fiscal year. We record an impairment loss for any portion of the carrying value that is not recoverable.
Derivatives	Derivatives Net Investment Hedges We use foreign currency forward contracts to hedge against the effect of Canadian dollar exchange rate fluctuations on a portion of our net investment in our Canadian operations. The contracts have terms of up to 12 months. For a net investment hedge, we recognize changes in the fair value of the derivative as a component of foreign currency translation within other comprehensive income to offset a portion of the change in translated value of the net investment being hedged, until the investment is sold or liquidated. We limit recognition in net earnings of amounts previously recorded in other comprehensive income to circumstances such as complete or substantially complete liquidation of the net investment in the hedged foreign operation. We report the gains and losses, if any, related to the amount excluded from the assessment of hedge effectiveness in net earnings. Interest Rate Swaps We utilize “receive fixed-rate, pay variable-rate” interest rate swaps to mitigate the effect of interest rate fluctuations on our $ 500 million principal amount of notes due October 1, 2028 (“2028 Notes”) . Our interest rate swap contracts are considered perfect hedges because the critical terms and notional amounts match those of our fixed-rate debt being hedged and are, therefore, accounted for as fair value hedges using the shortcut method. Under the shortcut method, we recognize the change in the fair value of the derivatives with an offsetting change to the carrying value of the debt. Accordingly, there is no impact on our Consolidated Statements of Earnings from the fair value of the derivatives. Derivatives Not Designated as Hedging Instruments We use foreign currency forward contracts to manage the impact of fluctuations in foreign currency exchange rates relative to recognized receivable and payable balances denominated in non-functional currencies. The contracts generally have terms of up to 12 months. These derivative instruments are not designated in hedging relationships and, therefore, we record gains and losses on these contracts directly to our Consolidated Statements of Earnings.
Fair Value	Fair Value Fair value is the price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. To measure fair value, we use a three-tier valuation hierarchy based upon observable and non-observable inputs: Level 1 — Unadjusted quoted prices that are available in active markets for identical assets or liabilities at the measurement date. Level 2 — Significant other observable inputs available at the measurement date, other than quoted prices included in Level 1, either directly or indirectly, including: • Quoted prices for similar assets or liabilities in active markets; • Quoted prices for identical or similar assets or liabilities in non-active markets; • Inputs other than quoted prices that are observable for the asset or liability; and • Inputs that are derived principally from or corroborated by other observable market data. Level 3 — Significant unobservable inputs that cannot be corroborated by observable market data and reflect the use of significant management judgment. These values are generally determined using pricing models for which the assumptions utilize management’s estimates of market participant assumptions. The fair value hierarchy requires the use of observable market data when available. In instances where the inputs used to measure fair value fall into different levels of the fair value hierarchy, the fair value measurement has been determined based on the lowest level input that is significant to the fair value measurement in its entirety. Our assessment of the significance of a particular item to the fair value measurement in its entirety requires judgment, including the consideration of inputs specific to the asset or liability. Fair value remeasurements are based on significant unobservable inputs (Level 3). Fixed asset fair values are primarily derived using a discounted cash flow (“DCF”) model to estimate the present value of net cash flows that the asset or asset group was expected to generate. The key inputs to the DCF model generally include our forecasts of net cash generated from investment operations, as well as an appropriate discount rate. Assets and liabilities that are measured at fair value on a nonrecurring basis relate primarily to our tangible fixed assets, goodwill and other intangible assets, which are remeasured when the derived fair value is below carrying value on our Consolidated Balance Sheets. For these assets, we do not periodically adjust carrying value to fair value, except in the event of impairment. When we determine that impairment has occurred, the carrying value of the asset is reduced to fair value and the difference is recorded within SG&A and Restructuring charges on our Consolidated Statements of Earnings for non-restructuring and restructuring charges, respectively.
Insurance	Insurance We are self-insured for certain losses related to workers’ compensation, medical, general liability and auto claims; however, we obtain third-party excess insurance coverage to limit our exposure to certain claims. Some of these self-insured losses are managed through a wholly-owned insurance captive. Liabilities associated with these losses include estimates of both claims filed and losses incurred but not yet reported. We utilize valuations provided by qualified, independent third-party actuaries as well as internal insurance and risk expertise. Our net self-insured liabilities included on our Consolidated Balance Sheets were as follows ($ in millions): February 3, 2024 January 28, 2023 Short-term liabilities $ 111 $ 111 Long-term liabilities 57 53 Total $ 168 $ 164
Income Taxes	Income Taxes We account for income taxes using the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry-forwards. We record a valuation allowance to reduce the carrying amounts of deferred tax assets if it is more likely than not that such assets will not be realized. In determining our provision for income taxes, we use an annual effective income tax rate based on annual income, permanent differences between book and tax income and statutory income tax rates. The effective income tax rate also reflects our assessment of the ultimate outcome of tax audits. We adjust our annual effective income tax rate as additional information on outcomes or events becomes available. Discrete events, such as audit settlements or changes in tax laws, are recognized in the period in which they occur. Our income tax returns are routinely examined by domestic and foreign tax authorities. At any one time, multiple tax years are subject to audit by the various taxing authorities. In evaluating the exposures associated with our various tax filing positions, we may record a liability for such exposures. A number of years may elapse before a particular matter, for which we have established a liability, is audited and fully resolved or clarified. We adjust our liability for unrecognized tax benefits and income tax provisions in the period in which an uncertain tax position is effectively settled, the statute of limitations expires for the relevant taxing authority to examine the tax position or when more information becomes available. We include our liability for unrecognized tax benefits, including accrued penalties and interest, in Long-term liabilities on our Consolidated Balance Sheets and in Income tax expense on our Consolidated Statements of Earnings.
Accrued Liabilities	Accrued Liabilities The major components of accrued liabilities are sales tax liabilities, advertising accruals, accrued income taxes, sales return reserves and insurance liabilities.
Long-Term Liabilities	Long-Term Liabilities The major components of long-term liabilities are deferred revenue from our private label and co-branded credit card arrangement and unrecognized tax benefits.
Foreign Currency	Foreign Currency Foreign currency denominated assets and liabilities are translated into U.S. dollars using the exchange rates in effect at our Consolidated Balance Sheet dates. Results of operations and cash flows are translated using the average exchange rates throughout the periods. The effect of exchange rate fluctuations on the translation of assets and liabilities is included as a component of shareholders' equity in accumulated other comprehensive income. Gains and losses from foreign currency transactions, which are included in SG&A on our Consolidated Statements of Earnings, have not been significant in any period presented.
Revenue Recognition	Revenue Recognition We generate revenue from the sale of products and services, both as a principal and as an agent. Revenue is recognized when control of the promised goods or services is transferred to our customers, in an amount that reflects the consideration that we expect to receive in exchange for those goods or services. Our revenue excludes sales and usage-based taxes collected and is reported net of sales refunds, which includes an estimate of future returns and contract cancellations based on historical refund rates, with a corresponding reduction to cost of sales. We defer the revenue associated with any unsatisfied performance obligation until the obligation is satisfied, typically when control of a product is transferred to the customer or a service is completed. Product Revenue Product revenue is recognized when the customer takes physical control, either in our stores or at their home. Any fees charged to customers for delivery are recognized when delivery has been completed. We use delivery information to determine when to recognize revenue for delivered products and any related delivery fee revenue. In most cases, we are the principal to product contracts as we have control of the physical products prior to transfer to the customer. Accordingly, revenue is recognized on a gross basis. For certain sales, primarily activation-based software licenses and third-party stored-value cards, we are the sales agent providing access to the content and recognize commission revenue net of amounts due to third parties who fulfill the performance obligation. For these transactions, commission revenue is typically recorded once customers have taken possession of licenses or cards and can access their benefits. Warranty obligations associated with the sale of our exclusive brands products are assurance-type warranties that are a guarantee of the product’s intended functionality and, therefore, do not represent a distinct performance obligation within the context of the contract. Services - When we are the principal We recognize revenue for services, such as delivery, installation, set-up, software troubleshooting, product repair, and data services once the service is completed, as this is when the customer has the ability to direct the use of and obtain the benefits of the service or serviced product. Payment terms are typically at the point of sale, but may also occur upon completion of the service. Our service contracts are primarily with retail customers, merchandise vendors (for factory warranty repairs) and extended warranty underwriters. For technical support membership contracts (for example, our Best Buy Total membership offering), we are responsible for providing support services to customers. These contracts have terms ranging from one month to one year and typically contain several performance obligations. Payment for the membership contracts is typically due at the start of the contract period. We have determined that our contracts do not include a significant financing component. For performance obligations provided over time, we recognize revenue primarily on a usage basis, an input method of measuring progress over the related contract term. This method is derived by analysis of historical utilization patterns as this depicts when customers use the services and, accordingly, when delivery of the performance obligation occurs. There is judgment in, for example, estimating the relative standalone selling price for bundled performance obligations; the appropriate recognition methodology for each performance obligation; and, for those based on usage, the expected pattern of consumption across a large portfolio of customers. When insufficient reliable and relevant history is available to estimate usage, we generally recognize revenue ratably over the life of the contract until such history has accumulated. Services - When we are the agent On behalf of third-party underwriters, we sell various hardware protection plans to customers that provide extended warranty coverage on their device purchases. Such plans have terms ranging from one month to five year s. Payment is due at the point of sale. Third-party underwriters assume the risk associated with the coverage and are primarily responsible for fulfillment. We record the net commissions (the amount charged to the customer less the premiums remitted to the underwriter) as revenue once the corresponding product revenue is recognized. In addition, in some cases we are eligible to receive profit-sharing payments, a form of variable consideration, which are dependent upon the financial performance of the underwriter’s protection plan portfolio. We do not share in any losses of the portfolio. We record any profit share as revenue once the uncertainty associated with the portfolio period, which is calendar-year based, is no longer constrained using the expected value method. This typically occurs during our fiscal fourth quarter, with payment of the profit share occurring in the subsequent fiscal year. Net commissions and profit-sharing revenue earned from the sale of extended warranties represented 0.8 %, 0.9 % and 1.4 % of revenue in fiscal 2024, fiscal 2023 and fiscal 2022, respectively. We earn commissions from mobile network carriers to sell service contracts on their platforms. Revenue is recognized upon sale of the contract and activation of the customer on the provider’s platform. The time between when we activate the service with the customer and when we receive payment from the content provider is generally 30 to 60 days, which is after control has passed. Activation commissions are subject to repayment to the carrier primarily in the event of customer cancellation for specified time periods after the sale. Commission revenue from mobile network carriers is reported net of the expected cancellations, which we estimate based on historical cancellation rates. Credit Card Revenue We offer promotional financing and credit cards issued by third-party banks that manage and directly extend credit to our customers. Approximately 25 % of Domestic revenue in fiscal 2024, fiscal 2023 and fiscal 2022 was transacted using one of our branded cards. We provide a license to our brand and marketing services, and we facilitate credit applications in our stores and online. The banks are the sole owners of the accounts receivable generated under the program and, accordingly, we do not hold any customer receivables related to these programs and act as an agent in the financing transactions with customers. We are eligible to receive a profit share from certain of our banking partners based on the annual performance of their corresponding portfolio, and we receive quarterly payments based on forecasts of full-year performance. This is a form of variable consideration. We record such profit share as revenue over time using the most likely amount method, which reflects the amount earned each quarter when it is determined that the likelihood of a significant revenue reversal is not probable, which is typically quarterly. Profit-share payments occur quarterly, shortly after the end of each program quarter. Profit-sharing revenue from our credit card arrangement approximated 1.4 %, 1.4 % and 0.9 % of Domestic revenue in fiscal 2024, fiscal 2023 and fiscal 2022, respectively. Best Buy Gift Cards We sell Best Buy gift cards to our customers in our retail stores, online and through select third parties. Our gift cards do not expire. We recognize revenue from gift cards when the card is redeemed by the customer. We also recognize revenue for the portion of gift card values that is not expected to be redeemed (“breakage”). We estimate breakage based on historical patterns and other factors, such as laws and regulations applicable to each jurisdiction. We recognize breakage revenue using a method that is consistent with customer redemption patterns. Typically, over 90 % of gift card redemptions (and therefore recognition of over 90 % of gift card breakage revenue) occur within one year of issuance. There is judgment in assessing the level at which we group gift cards for analysis of breakage rates, redemption patterns and the ultimate value of gift cards which we do not expect to be redeemed. Gift card breakage income was $ 40 million, $ 59 million and $ 49 million in fiscal 2024, fiscal 2023 and fiscal 2022, respectively. Sales Incentives We frequently offer sales incentives that entitle our customers to receive a gift card at the time of purchase or an instant savings coupon that can be redeemed towards a future purchase. For sales incentives issued to customers that are only earned in conjunction with the purchase of products or services, the sales incentives represent an option that is a material right and, accordingly, is a performance obligation in the contract. The revenue allocated to these sales incentives is deferred as a contract liability and is based on the cards that are projected to be redeemed. We recognize revenue for this performance obligation when it is redeemed by the customer or when it is not expected to be redeemed. There is judgment in determining the level at which we group incentives based on similar redemption patterns, future redemption patterns and the ultimate number of incentives that we do not expect to be redeemed. We also issue coupons that are not earned in conjunction with a purchase of a product or service, typically as part of targeted marketing activities. This is not a performance obligation, but is recognized as a reduction of the transaction price when redeemed by the customer. Customer Loyalty Programs We have customer loyalty programs which allow members to earn points when using our private label and co-branded credit cards. Points earned enable members to receive a certificate that may be redeemed on future purchases. Certificate expirations are typically two months from the date of issuance. Our loyalty programs represent customer options that provide a material right and, accordingly, are performance obligations for each applicable contract. The relative standalone selling price of points earned by our loyalty program members is deferred and included in Deferred revenue on our Consolidated Balance Sheets based on the percentage of points that are projected to be redeemed. We recognize revenue for this performance obligation over time when a certificate is redeemed by the customer. There is inherent judgment in estimating the value of our customer loyalty programs as they are susceptible to factors outside of our influence, particularly customer redemption activity. However, we have significant experience in estimating the amount and timing of redemptions of certificates, based primarily on historical data.
Cost of Sales and Selling, General and Administrative Expenses	Cost of Sales and Selling, General and Administrative Expenses The following tables illustrate the primary costs classified in each major expense category. Cost of Sales Cost of products sold, including: Freight expenses associated with moving merchandise inventories from our vendors to our distribution centers Vendor allowances that are not a reimbursement of specific, incremental and identifiable costs Cash discounts on payments to merchandise vendors Physical inventory losses Markdowns Customer shipping and handling expenses Costs associated with operating our distribution network, including payroll and benefit costs, occupancy costs and depreciation Freight expenses associated with moving merchandise inventories from our distribution centers to our retail stores Cost of services provided, including: Payroll and benefit costs for services employees associated with providing the service Cost of replacement parts and related freight expenses Selling, General and Administrative Expenses Payroll and benefit costs for retail and corporate employees, including termination benefits incurred as part of normal operations Occupancy and maintenance costs of retail, services and corporate facilities Depreciation and amortization related to retail, services and corporate assets Advertising costs Vendor allowances that are a reimbursement of specific, incremental and identifiable costs Tender costs, including bank charges and costs associated with credit card and debit card interchange fees Charitable contributions Outside and outsourced service fees Long-lived asset impairment charges Other administrative costs, such as supplies, travel and lodging
Vendor Allowances	Vendor Allowances We receive funds from our merchandise vendors through a variety of programs and arrangements, primarily in the form of purchases-based or sales-based volumes and for product advertising and placement . We recognize allowances based on purchases and sales as a reduction of cost of sales when the associated inventory is sold. Allowances for advertising and placement are recognized as a reduction of cost of sales ratably over the corresponding performance period. Funds that are determined to be a reimbursement of specific, incremental and identifiable costs incurred to sell a vendor’s products are recorded as an offset to the related expense within SG&A on our Consolidated Statements of Earnings when incurred.
Advertising Costs	Advertising Costs Advertising costs, which are included in SG&A on our Consolidated Statements of Earnings, are expensed the first time the advertisement runs and consist primarily of digital advertisements. Advertising expenses were $ 794 million, $ 864 million and $ 915 million in fiscal 2024, fiscal 2023 and fiscal 2022, respectively.
Stock-Based Compensation	Stock-Based Compensation We recognize stock-based compensation expense for the fair value of our stock-based compensation awards, which is determined based on the closing market price of our stock at the date of grant for time-based and performance-based share awards, and Monte-Carlo simulation for market-based share awards. Compensation expense is recognized on a straight-line basis over the period in which services are required, except for certain performance-based share awards that vest on a graded basis, in which case the expense is front-loaded using the graded-attribution basis. Forfeitures are expensed as incurred or upon termination.
Comprehensive Income (Loss)	Comprehensive Income (Loss) Comprehensive income (loss) is computed as net earnings plus certain other items that are recorded directly to shareholders’ equity

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Feb. 03, 2024
Summary of Significant Accounting Policies [Abstract]
Schedule of Cash, Cash Equivalents and Restricted Cash	February 3, 2024 January 28, 2023 January 29, 2022 Cash and cash equivalents $ 1,447 $ 1,874 $ 2,936 Restricted cash included in Other current assets 346 379 269 Total cash, cash equivalents and restricted cash $ 1,793 $ 2,253 $ 3,205
Schedule of Estimated Useful Lives	Asset Category Useful Life Buildings 5 - 35 Leasehold improvements 5 - 10 Fixtures and equipment 2 - 15
Schedule of Self Insurance Liability	February 3, 2024 January 28, 2023 Short-term liabilities $ 111 $ 111 Long-term liabilities 57 53 Total $ 168 $ 164

Restructuring (Tables)

Restructuring (Tables)	12 Months Ended
	Feb. 03, 2024
Restructuring Cost and Reserve [Line Items]
Composition of Restructuring Charges	2024 2023 2022 Fiscal 2024 Restructuring Initiative $ 171 $ - $ - Fiscal 2023 Resource Optimization Initiative ( 18 ) 145 - Mexico Exit and Strategic Realignment (1) - 2 ( 41 ) Fiscal 2020 U.S. Retail Operating Model Changes - - 1 Total $ 153 $ 147 $ ( 40 ) (1) Includes ($ 6 ) million related to inventory markdowns recorded in Cost of sales on our Consolidated Statements of Earnings in fiscal 2022.
2023 Resource Optimization Initiative [Member]
Restructuring Cost and Reserve [Line Items]
Composition of Restructuring Charges	2024 2023 Cumulative Amount as of February 3, 2024 Domestic $ ( 16 ) $ 140 $ 124 International ( 2 ) 5 3 Total $ ( 18 ) $ 145 $ 127
Restructuring Accrual Activity	Domestic International Total Balances as of January 29, 2022 $ - $ - $ - Charges 145 5 150 Cash payments ( 38 ) - ( 38 ) Adjustments (1) ( 5 ) - ( 5 ) Balances as of January 28, 2023 102 5 107 Cash payments ( 70 ) ( 3 ) ( 73 ) Adjustments (1) ( 16 ) ( 2 ) ( 18 ) Balances as of February 3, 2024 $ 16 $ - $ 16 (1) Represents adjustments primarily related to higher-than-expected employee retention from previously planned organizational changes.
Mexico Exit And Strategic Realignment [Member]
Restructuring Cost and Reserve [Line Items]
Composition of Restructuring Charges	Statement of 2022 Cumulative Amount as of February 3, 2024 Earnings Location Domestic International Total Domestic International Total Inventory markdowns Cost of sales $ - $ ( 6 ) $ ( 6 ) $ - $ 17 $ 17 Asset impairments (1) Restructuring charges - 6 6 10 63 73 Termination benefits Restructuring charges ( 40 ) ( 1 ) ( 41 ) 83 20 103 Currency translation adjustment Restructuring charges - - - - 39 39 Other (2) Restructuring charges - - - - 6 6 $ ( 40 ) $ ( 1 ) $ ( 41 ) $ 93 $ 145 $ 238 (1) Remaining net carrying value of asset impairments approximates fair value and was immaterial as of February 3, 2024. (2) Other charges are primarily comprised of contract termination costs.

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	12 Months Ended
	Feb. 03, 2024
Goodwill and Intangible Assets [Abstract]
Gross Carrying Amount of Goodwill and Cumulative Goodwill Impairment	February 3, 2024 January 28, 2023 Gross Carrying Amount Cumulative Impairment Gross Carrying Amount Cumulative Impairment Domestic $ 1,450 $ ( 67 ) $ 1,450 $ ( 67 ) International 608 ( 608 ) 608 ( 608 ) Total $ 2,058 $ ( 675 ) $ 2,058 $ ( 675 )
Definite-Lived Intangible Assets	February 3, 2024 January 28, 2023 Weighted-Average Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Useful Life Remaining as of February 3, 2024 (in years) Customer relationships $ 360 $ 276 $ 360 $ 236 10.1 Tradenames 108 69 108 56 4.8 Developed technology 64 59 64 51 3.8 Total $ 532 $ 404 $ 532 $ 343 8.2
Amortization Expense	Statement of Earnings Location 2024 2023 2022 Amortization expense SG&A $ 61 $ 86 $ 82
Amortization Expense Expected to be Recognized	Fiscal Year Amount Fiscal 2025 $ 21 Fiscal 2026 21 Fiscal 2027 18 Fiscal 2028 12 Fiscal 2029 11 Thereafter 45

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Feb. 03, 2024
Fair Value Measurements [Abstract]
Fair Value, Assets and Liabilities Measured on Recurring Basis	Fair Value Fair Value at Assets Balance Sheet Location (1) Hierarchy February 3, 2024 January 28, 2023 Money market funds (2) Cash and cash equivalents Level 1 $ 330 $ 280 Time deposits (3) Cash and cash equivalents Level 2 60 203 Money market funds (2) Other current assets Level 1 182 178 Time deposits (3) Other current assets Level 2 50 - Marketable securities that fund deferred compensation (4) Other assets Level 1 48 47 (1) Balance sheet location is determined by the length to maturity at date of purchase and whether the assets are restricted for particular use. (2) Valued at quoted market prices in active markets at period end. (3) Valued at face value plus accrued interest at period end, which approximates fair value. (4) Valued using the performance of mutual funds that trade with sufficient frequency and volume to obtain pricing information on an ongoing basis.
Fair Value of Financial Instruments	February 3, 2024 January 28, 2023 Fair Value Carrying Value Fair Value Carrying Value Long-term debt (1) $ 1,022 $ 1,139 $ 1,019 $ 1,143 (1) Excludes debt discounts, issuance costs and finance lease obligations.

Derivative Instruments (Tables)

Derivative Instruments (Tables)	12 Months Ended
	Feb. 03, 2024
Derivative Instruments [Abstract]
Notional Amount of Derivative Instruments	Notional Amount Contract Type February 3, 2024 January 28, 2023 Derivatives designated as net investment hedges $ 100 $ 114 Derivatives designated as interest rate swap contracts 500 500 No hedging designation (foreign currency forward contracts) 66 56 Total $ 666 $ 670
Effects of Derivative Instruments on Consolidated Statements of Earnings	Gain (Loss) Recognized Contract Type Statement of Earnings Location 2024 2023 2022 Interest rate swap contracts Interest expense $ ( 4 ) $ ( 57 ) $ ( 41 ) Adjustments to carrying value of long-term debt Interest expense 4 57 41 Total $ - $ - $ -

Leases (Tables)

Leases (Tables)	12 Months Ended
	Feb. 03, 2024
Leases [Abstract]
Supplemental Balance Sheet Information	Balance Sheet Location February 3, 2024 January 28, 2023 Assets Operating leases Operating lease assets $ 2,758 $ 2,746 Finance leases Property under finance leases, net (1) 43 50 Total lease assets $ 2,801 $ 2,796 Liabilities Current: Operating leases Current portion of operating lease liabilities $ 618 $ 638 Finance leases Current portion of long-term debt 13 16 Non-current: Operating leases Long-term operating lease liabilities 2,199 2,164 Finance leases Long-term debt 21 26 Total lease liabilities $ 2,851 $ 2,844 (1) (1) Finance leases were recorded net of accumulated depreciation of $ 54 million and $ 50 million as of February 3, 2024, and January 28, 2023, respectively.
Components of Lease Cost	Statement of Earnings Location 2024 2023 2022 Operating lease cost (1) Cost of sales and SG&A (2) $ 777 $ 780 $ 770 Finance lease cost: Depreciation of lease assets Cost of sales and SG&A (2) 16 15 13 Interest on lease liabilities Interest expense 1 1 1 Variable lease cost Cost of sales and SG&A (2) 239 233 238 Sublease income SG&A ( 11 ) ( 12 ) ( 13 ) Total lease cost $ 1,022 $ 1,017 $ 1,009 (1) (1) Includes short-term leases, which are immaterial. (2) Supply chain-related amounts are included in Cost of sales.
Other Information	2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 772 $ 781 Operating cash flows from finance leases 1 1 Financing cash flows from finance leases 14 18 Lease assets obtained in exchange for new lease liabilities: Operating leases 717 809 Finance leases 11 18 Weighted average remaining lease term (in years): Operating leases 5.2 5.1 Finance leases 5.9 5.5 Weighted average discount rate: Operating leases 3.6 % 3.0 % Finance leases 3.9 % 3.2 %
Future Lease Payments	Operating Leases (1) Finance Leases (1) Fiscal 2025 $ 708 $ 16 Fiscal 2026 675 10 Fiscal 2027 559 6 Fiscal 2028 432 3 Fiscal 2029 288 1 Thereafter 460 3 Total future undiscounted lease payments 3,122 39 Less imputed interest 305 5 Total reported lease liability $ 2,817 $ 34 (1) Lease payments exclude $ 118 million of legally binding fixed costs for leases signed but not yet commenced.

Debt (Tables)

Debt (Tables)	12 Months Ended
	Feb. 03, 2024
Debt [Abstract]
Schedule of Long-term Debt	February 3, 2024 January 28, 2023 2028 Notes $ 500 $ 500 2030 Notes 650 650 Interest rate swap valuation adjustments ( 11 ) ( 7 ) Subtotal 1,139 1,143 Debt discounts and issuance costs ( 8 ) ( 9 ) Finance lease obligations 34 42 Total long-term debt 1,165 1,176 Less: current portion 13 16 Total long-term debt, less current portion $ 1,152 $ 1,160

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	12 Months Ended
	Feb. 03, 2024
Shareholders' Equity [Abstract]
Stock-Based Compensation Expense	2024 2023 2022 Share awards: Time-based $ 126 $ 121 $ 109 Market-based 19 14 12 Performance-based - - 17 Stock options - 3 3 Stock-based compensation expense 145 138 141 Income tax benefits 27 27 26 Stock-based compensation expense, net of tax $ 118 $ 111 $ 115
Time-Based Share Awards	Time-Based Share Awards Shares Weighted-Average Fair Value per Share Outstanding as of January 28, 2023 3,046 $ 90.96 Granted 2,003 $ 77.70 Vested and distributed ( 1,476 ) $ 85.71 Forfeited ( 307 ) $ 91.83 Outstanding as of February 3, 2024 3,266 $ 85.71
Market-Based Share Awards	Market-Based Share Awards Shares Weighted-Average Fair Value per Share Outstanding as of January 28, 2023 514 $ 96.61 Granted 267 $ 86.95 Adjustment for performance achievement ( 178 ) $ 53.18 Forfeited ( 24 ) $ 98.03 Outstanding as of February 3, 2024 579 $ 106.38
Performance-Based Share Awards	Performance-Based Share Awards Shares Weighted-Average Fair Value per Share Outstanding as of January 28, 2023 288 $ 67.36 Granted 2 $ 111.87 Adjustment for performance achievement ( 46 ) $ 51.79 Distributed ( 195 ) $ 61.07 Forfeited ( 4 ) $ 77.40 Outstanding as of February 3, 2024 45 $ 111.68
Stock Option Activity	Stock Options (in thousands) Weighted-Average Exercise Price per Share Weighted-Average Remaining Contractual Term (in years) Aggregate Intrinsic Value (in millions) Outstanding as of January 28, 2023 720 $ 60.91 Exercised ( 152 ) $ 62.97 Forfeited ( 39 ) $ 69.11 Outstanding as of February 3, 2024 529 $ 59.71 4.9 $ 8
Earnings Per Share	2024 2023 2022 Numerator Net earnings $ 1,241 $ 1,419 $ 2,454 Denominator Weighted-average common shares outstanding 217.7 224.8 246.8 Dilutive effect of stock compensation plan awards 0.8 0.9 2.5 Weighted-average common shares outstanding, assuming dilution 218.5 225.7 249.3 Potential shares which were anti-dilutive and excluded from weighted-average share computations - 0.7 0.1 Basic earnings per share $ 5.70 $ 6.31 $ 9.94 Diluted earnings per share $ 5.68 $ 6.29 $ 9.84
Share Repurchases and Retired	2024 2023 2022 Total cost of shares repurchased $ 340 $ 1,001 $ 3,504 Average price per share $ 72.52 $ 84.78 $ 108.97 Number of shares repurchased and retired 4.7 11.8 32.2

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Feb. 03, 2024
Revenue [Abstract]
Contract Balances and Changes in Contract Balances	February 3, 2024 January 28, 2023 Receivables (1) $ 512 $ 581 Short-term contract liabilities included in: Unredeemed gift cards 253 274 Deferred revenue 1,000 1,116 Accrued liabilities 53 66 Long-term contract liabilities included in: Long-term liabilities 245 265 (1) Receivables are recorded net of allowances for doubtful accounts of $ 23 million and $ 22 million as of February 3, 2024, and January 28, 2023, respectively.
Expected Timing for Satisfying Remaining Performance Obligation	Fiscal Year Amount Fiscal 2025 $ 33 Fiscal 2026 33 Fiscal 2027 25 Fiscal 2028 25 Fiscal 2029 25 Thereafter 137

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Feb. 03, 2024
Income Taxes [Abstract]
Reconciliation of Federal Statutory Income Tax Rate to Income Tax Expense	2024 2023 2022 Federal income tax at the statutory rate $ 340 $ 376 $ 635 State income taxes, net of federal benefit 57 63 88 Change in unrecognized tax benefits ( 6 ) ( 45 ) ( 88 ) Benefit from foreign operations ( 8 ) ( 4 ) ( 8 ) Other ( 2 ) ( 20 ) ( 53 ) Income tax expense $ 381 $ 370 $ 574 Effective income tax rate 23.5 % 20.7 % 19.0 %
Earning Before Income Tax Expense and Equity in Income of Affiliates	2024 2023 2022 United States $ 1,389 $ 1,533 $ 2,677 Foreign 232 255 347 Earnings before income tax expense and equity in income of affiliates $ 1,621 $ 1,788 $ 3,024
Income Tax Expense (Benefit)	2024 2023 2022 Current: Federal $ 452 $ 213 $ 367 State 104 64 132 Foreign 39 42 61 595 319 560 Deferred: Federal ( 177 ) 33 22 State ( 37 ) 19 ( 9 ) Foreign - ( 1 ) 1 ( 214 ) 51 14 Income tax expense $ 381 $ 370 $ 574
Deferred Income Tax Assets and Liabilities	February 3, 2024 January 28, 2023 Deferred revenue $ 127 $ 67 Compensation and benefits 91 41 Stock-based compensation 32 29 Other accrued expenses 45 47 Operating lease liabilities 730 729 Loss and credit carryforwards 173 161 Other 42 43 Total deferred tax assets 1,240 1,117 Valuation allowance ( 175 ) ( 150 ) Total deferred tax assets after valuation allowance 1,065 967 Inventory ( 45 ) ( 37 ) Property and equipment ( 49 ) ( 169 ) Operating lease assets ( 701 ) ( 698 ) Goodwill and intangibles ( 81 ) ( 71 ) Other ( 22 ) ( 39 ) Total deferred tax liabilities ( 898 ) ( 1,014 ) Net deferred tax assets (liabilities) $ 167 $ ( 47 ) Deferred taxes were presented as follows ($ in millions): Balance Sheet Location February 3, 2024 January 28, 2023 Other assets $ 167 $ 4 Long-term liabilities - ( 51 ) Net deferred tax assets (liabilities) $ 167 $ ( 47 )
Reconciliation of Changes in Unrecognized Tax Benefits	(1) 2024 2023 2022 Balances at beginning of period $ 163 $ 235 $ 327 Gross increases related to prior period tax positions 10 28 3 Gross decreases related to prior period tax positions (1) ( 11 ) ( 75 ) ( 103 ) Gross increases related to current period tax positions 20 21 28 Settlements with taxing authorities ( 3 ) - ( 7 ) Lapse of statute of limitations ( 39 ) ( 46 ) ( 13 ) Balances at end of period $ 140 $ 163 $ 235 (1) Represents multi-jurisdiction, multi-year resolutions of certain discrete tax matters.

Segment and Geographic Inform_2

Segment and Geographic Information (Tables)	12 Months Ended
	Feb. 03, 2024
Segment and Geographic Information [Abstract]
Revenue by Reportable Segment and Product Category	2024 2023 2022 Revenue by reportable segment Domestic $ 40,097 $ 42,794 $ 47,830 International 3,355 3,504 3,931 Total revenue $ 43,452 $ 46,298 $ 51,761 2024 2023 2022 Revenue by product category Domestic: Computing and Mobile Phones $ 16,930 $ 18,191 $ 20,693 Consumer Electronics 12,014 13,040 15,009 Appliances 5,469 6,381 6,784 Entertainment 3,063 2,786 2,963 Services 2,357 2,149 2,190 Other 264 247 191 Total Domestic revenue $ 40,097 $ 42,794 $ 47,830 International: Computing and Mobile Phones $ 1,552 $ 1,575 $ 1,785 Consumer Electronics 955 1,054 1,194 Appliances 335 355 383 Entertainment 300 267 312 Services 173 183 190 Other 40 70 67 Total International revenue $ 3,355 $ 3,504 $ 3,931
Segment Information	2024 2023 2022 Operating income by reportable segment Domestic (1) $ 1,467 $ 1,634 $ 2,795 International 107 161 244 Total operating income 1,574 1,795 3,039 Other income (expense): Gain on sale of subsidiary, net 21 - - Investment income and other 78 28 10 Interest expense ( 52 ) ( 35 ) ( 25 ) Earnings before income tax expense and equity in income of affiliates $ 1,621 $ 1,788 $ 3,024 Assets Domestic $ 13,660 $ 14,549 $ 16,016 International 1,307 1,254 1,488 Total assets $ 14,967 $ 15,803 $ 17,504 Capital expenditures Domestic $ 760 $ 891 $ 691 International 35 39 46 Total capital expenditures $ 795 $ 930 $ 737 Depreciation Domestic $ 819 $ 787 $ 738 International 43 45 49 Total depreciation $ 862 $ 832 $ 787 (1) Domestic operating income includes certain operations that are based in foreign tax jurisdictions and primarily relate to sourcing products into the U.S.
Geographic Information	2024 2023 2022 Revenue from external customers U.S. $ 40,097 $ 42,794 $ 47,830 Canada 3,355 3,504 3,911 Other - - 20 Total revenue from external customers $ 43,452 $ 46,298 $ 51,761 Property and equipment, net U.S. $ 2,157 $ 2,243 $ 2,128 Canada 102 107 120 Other 1 2 2 Total property and equipment, net $ 2,260 $ 2,352 $ 2,250

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Narrative) (Details)	12 Months Ended
	Feb. 03, 2024 USD ($) segment	Jan. 28, 2023 USD ($)	Jan. 29, 2022 USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of operating segments | segment	2
Gain on sale of subsidiary, net	$ 21,000,000
Allowances for uncollectible receivables	32,000,000	$ 30,000,000
Write-offs	43,000,000	41,000,000
Goodwill	$ 1,383,000,000	$ 1,383,000,000
Percentage of Commissions on Sale of Extended Warranties to Revenue	0.80%	0.90%	1.40%
Profit Share on Sale of Extended Warranties	1.40%	1.40%	0.90%
Gift card redemption within 1 year, percentage	90%
Revenue recognized	$ 1,283,000,000	$ 1,346,000,000
Period of Expiration for Customer Loyalty Certificates, Low End of Range	2 months
Advertising expense	$ 794,000,000	$ 864,000,000	$ 915,000,000
Branded cards	25%	25%	25%
Liability associated with funded participation	$ 426,000,000	$ 386,000,000
Supplier Finance Program, Obligation, Statement of Financial Position [Extensible Enumeration]	Accounts Payable, Current	Accounts Payable, Current
2028 Notes [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Debt	$ 500,000,000
Best Buy Health [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Goodwill	891,000,000
Best Buy Domestic [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Goodwill	492,000,000
Best Buy Gift Cards [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue recognized	$ 40,000,000	$ 59,000,000	$ 49,000,000
Minimum [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Term of contract	1 month
Customer loyalty program, certificate expiration period	1 month
Minimum [Member] | Software [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Estimated useful lives	2 years
Maximum [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Term of contract	1 year
Customer loyalty program, certificate expiration period	5 years
Maximum [Member] | Software [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Estimated useful lives	5 years

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Schedule of Cash, Cash Equivalents and Restricted Cash) (Details) - USD ($) $ in Millions	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Summary of Significant Accounting Policies [Abstract]
Cash and cash equivalents	$ 1,447	$ 1,874	$ 2,936
Restricted cash included in Other current assets	346	379	269
Total cash, cash equivalents and restricted cash	$ 1,793	$ 2,253	$ 3,205	$ 5,625

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Schedule of Estimated Useful Lives) (Details)	Feb. 03, 2024
Buildings | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Buildings | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	35 years
Leasehold improvements | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Leasehold improvements | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	10 years
Fixtures and equipment | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	2 years
Fixtures and equipment | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	15 years

Summary of Significant Accoun_7

Summary of Significant Accounting Policies (Schedule of Self Insurance Liability) (Details) - USD ($) $ in Millions	Feb. 03, 2024	Jan. 28, 2023
Summary of Significant Accounting Policies [Abstract]
Short-term liabilities	$ 111	$ 111
Long-term liabilities	57	53
Total	$ 168	$ 164

Acquisitions (Details)

Acquisitions (Details) - USD ($) $ in Millions			12 Months Ended
	Nov. 04, 2021	Nov. 02, 2021	Jan. 29, 2022	Feb. 03, 2024	Jan. 28, 2023	Nov. 02, 2022
Business Acquisition [Line Items]
Total purchase price, net of cash acquired			$ 468
Goodwill				$ 1,383	$ 1,383
Current Health Ltd. [Member]
Business Acquisition [Line Items]
Total purchase price, net of cash acquired		$ 389
Goodwill						$ 351
Two Peaks, LLC d/b/a Yardbird Furniture [Member]
Business Acquisition [Line Items]
Total purchase price, net of cash acquired	$ 79
Goodwill	$ 47

Restructuring (Narrative) (Deta

Restructuring (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Feb. 01, 2025	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ 153	$ 147	$ (34)
Restructuring charges		153	147	(40)
U.S. Operating Model [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges				1
Mexico Exit And Strategic Realignment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges			$ 2	(41)
Mexico Exit And Strategic Realignment [Member] | Continuing Operations [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		238		(41)
Mexico Exit And Strategic Realignment [Member] | Cost of Sales [Member]
Restructuring Cost and Reserve [Line Items]
Inventory markdown				6
Mexico Exit And Strategic Realignment [Member] | Domestic [Member] | Continuing Operations [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		93		(40)
Mexico Exit And Strategic Realignment [Member] | International [Member] | Continuing Operations [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		145		(1)
Mexico Exit And Strategic Realignment [Member] | Inventory Markdowns [Member] | Cost of Sales [Member] | Continuing Operations [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		17		(6)
Mexico Exit And Strategic Realignment [Member] | Inventory Markdowns [Member] | International [Member] | Cost of Sales [Member] | Continuing Operations [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		17		(6)
Mexico Exit And Strategic Realignment [Member] | Asset Impairments [Member] | Restructuring Charges [Member] | Continuing Operations [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		73		6
Mexico Exit And Strategic Realignment [Member] | Asset Impairments [Member] | Domestic [Member] | Restructuring Charges [Member] | Continuing Operations [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		10
Mexico Exit And Strategic Realignment [Member] | Asset Impairments [Member] | International [Member] | Restructuring Charges [Member] | Continuing Operations [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		63		6
Mexico Exit And Strategic Realignment [Member] | Termination Benefits [Member] | Restructuring Charges [Member] | Continuing Operations [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		103		(41)
Mexico Exit And Strategic Realignment [Member] | Termination Benefits [Member] | Domestic [Member] | Restructuring Charges [Member] | Continuing Operations [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		83		(40)
Mexico Exit And Strategic Realignment [Member] | Termination Benefits [Member] | International [Member] | Restructuring Charges [Member] | Continuing Operations [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		20		$ (1)
Mexico Exit And Strategic Realignment [Member] | Currency Translation Adjustment [Member] | Restructuring Charges [Member] | Continuing Operations [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		39
Mexico Exit And Strategic Realignment [Member] | Currency Translation Adjustment [Member] | International [Member] | Restructuring Charges [Member] | Continuing Operations [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		39
Mexico Exit And Strategic Realignment [Member] | Other [Member] | Restructuring Charges [Member] | Continuing Operations [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		6
Mexico Exit And Strategic Realignment [Member] | Other [Member] | International [Member] | Restructuring Charges [Member] | Continuing Operations [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		6
2024 Resource Optimization Initiative [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		171
2024 Resource Optimization Initiative [Member] | Termination Benefits [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		171
2024 Resource Optimization Initiative [Member] | Termination Benefits [Member] | Domestic [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		163
2024 Resource Optimization Initiative [Member] | Termination Benefits [Member] | Domestic [Member] | Continuing Operations [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		163
2024 Resource Optimization Initiative [Member] | Termination Benefits [Member] | International [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		8
2024 Resource Optimization Initiative [Member] | Termination Benefits [Member] | International [Member] | Continuing Operations [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		8
Minimum [Member] | 2025 Resource Optimization Initiative [Member] | Domestic [Member]
Restructuring Cost and Reserve [Line Items]
Additional restructuring charges		10
Maximum [Member] | 2025 Resource Optimization Initiative [Member] | Domestic [Member]
Restructuring Cost and Reserve [Line Items]
Additional restructuring charges		$ 30
Forecast [Member] | 2025 Resource Optimization Initiative [Member] | Termination Benefits [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 135

Restructuring (Composition of R

Restructuring (Composition of Restructuring Charges) (Details) - USD ($) $ in Millions	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 153	$ 147	$ (40)
2024 Resource Optimization Initiative [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	171
2023 Resource Optimization Initiative [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	(18)	145
Mexico Exit And Strategic Realignment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		2	(41)
U.S. Operating Model [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges			1
Termination Benefits [Member] | 2023 Resource Optimization Initiative [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	(18)	145
Cumulative Amount	127
Domestic [Member] | Termination Benefits [Member] | 2023 Resource Optimization Initiative [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	(16)	140
Cumulative Amount	124
International [Member] | Termination Benefits [Member] | 2023 Resource Optimization Initiative [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	(2)	$ 5
Cumulative Amount	3
Continuing Operations [Member] | Mexico Exit And Strategic Realignment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	238		(41)
Continuing Operations [Member] | Domestic [Member] | Mexico Exit And Strategic Realignment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	93		(40)
Continuing Operations [Member] | International [Member] | Mexico Exit And Strategic Realignment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	145		(1)
Cost of Sales [Member] | Mexico Exit And Strategic Realignment [Member]
Restructuring Cost and Reserve [Line Items]
Inventory Write-down			6
Cost of Sales [Member] | Continuing Operations [Member] | Inventory Markdowns [Member] | Mexico Exit And Strategic Realignment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	17		(6)
Cost of Sales [Member] | Continuing Operations [Member] | International [Member] | Inventory Markdowns [Member] | Mexico Exit And Strategic Realignment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	17		(6)
Restructuring Charges [Member] | Continuing Operations [Member] | Termination Benefits [Member] | Mexico Exit And Strategic Realignment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	103		(41)
Restructuring Charges [Member] | Continuing Operations [Member] | Asset Impairments [Member] | Mexico Exit And Strategic Realignment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	73		6
Restructuring Charges [Member] | Continuing Operations [Member] | Currency Translation Adjustment [Member] | Mexico Exit And Strategic Realignment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	39
Restructuring Charges [Member] | Continuing Operations [Member] | Other [Member] | Mexico Exit And Strategic Realignment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	6
Restructuring Charges [Member] | Continuing Operations [Member] | Domestic [Member] | Termination Benefits [Member] | Mexico Exit And Strategic Realignment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	83		(40)
Restructuring Charges [Member] | Continuing Operations [Member] | Domestic [Member] | Asset Impairments [Member] | Mexico Exit And Strategic Realignment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	10
Restructuring Charges [Member] | Continuing Operations [Member] | International [Member] | Termination Benefits [Member] | Mexico Exit And Strategic Realignment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	20		(1)
Restructuring Charges [Member] | Continuing Operations [Member] | International [Member] | Asset Impairments [Member] | Mexico Exit And Strategic Realignment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	63		$ 6
Restructuring Charges [Member] | Continuing Operations [Member] | International [Member] | Currency Translation Adjustment [Member] | Mexico Exit And Strategic Realignment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	39
Restructuring Charges [Member] | Continuing Operations [Member] | International [Member] | Other [Member] | Mexico Exit And Strategic Realignment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 6

Restructuring (Restructuring Ac

Restructuring (Restructuring Accrual Activity) (Details) - 2023 Resource Optimization Initiative [Member] - Termination Benefits [Member] - USD ($) $ in Millions	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023
Restructuring Reserve [Roll Forward]
Balances	$ 107
Charges		$ 150
Cash payments	(73)	(38)
Adjustments	(18)	(5)
Balances	16	107
Domestic [Member]
Restructuring Reserve [Roll Forward]
Balances	102
Charges		145
Cash payments	(70)	(38)
Adjustments	(16)	(5)
Balances	16	102
International [Member]
Restructuring Reserve [Roll Forward]
Balances	5
Charges		5
Cash payments	(3)
Adjustments	$ (2)
Balances		$ 5

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets (Narrative) (Details) - USD ($)	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
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) - USD ($) $ in Millions	Feb. 03, 2024	Jan. 28, 2023
Goodwill [Line Items]
Gross Carrying Amount	$ 2,058	$ 2,058
Cumulative Impairment	(675)	(675)
Domestic [Member]
Goodwill [Line Items]
Gross Carrying Amount	1,450	1,450
Cumulative Impairment	(67)	(67)
International [Member]
Goodwill [Line Items]
Gross Carrying Amount	608	608
Cumulative Impairment	$ (608)	$ (608)

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets (Definite-Lived Intangible Assets) (Details) - USD ($) $ in Millions	Feb. 03, 2024	Jan. 28, 2023
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 532	$ 532
Accumulated Amortization	$ 404	343
Weighted-Average Useful Life Remaining	8 years 2 months 12 days
Customer Relationships [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 360	360
Accumulated Amortization	$ 276	236
Weighted-Average Useful Life Remaining	10 years 1 month 6 days
Tradenames [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 108	108
Accumulated Amortization	$ 69	56
Weighted-Average Useful Life Remaining	4 years 9 months 18 days
Developed Technology [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 64	64
Accumulated Amortization	$ 59	$ 51
Weighted-Average Useful Life Remaining	3 years 9 months 18 days

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets (Amortization Expense) (Details) - USD ($) $ in Millions	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Goodwill and Intangible Assets [Abstract]
Amortization expense	$ 61	$ 86	$ 82

Goodwill and Intangible Asset_6

Goodwill and Intangible Assets (Amortization Expense Expected to be Recognized) (Details) $ in Millions	Feb. 03, 2024 USD ($)
Goodwill and Intangible Assets [Abstract]
Fiscal 2025	$ 21
Fiscal 2026	21
Fiscal 2027	18
Fiscal 2028	12
Fiscal 2029	11
Thereafter	$ 45

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	Feb. 03, 2024	Jan. 28, 2023
Level 1 [Member] | Money Market Funds [Member]
Assets
Cash and cash equivalents	$ 330	$ 280
Other current assets	182	178
Level 1 [Member] | Marketable Securities that Fund Deferred Compensation [Member]
Assets
Other assets	48	47
Level 2 [Member] | Time Deposits [Member]
Assets
Cash and cash equivalents	60	$ 203
Other current assets	$ 50

Fair Value Measurements (Fair_2

Fair Value Measurements (Fair Value of Financial Instruments) (Details) - USD ($) $ in Millions	Feb. 03, 2024	Jan. 28, 2023
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Carrying value	$ 1,139	$ 1,143
Level 2 [Member] | Long-term Debt [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	1,022	1,019
Carrying value	$ 1,139	$ 1,143

Derivative Instruments (Notiona

Derivative Instruments (Notional Amount of Derivative Instruments) (Details) - USD ($) $ in Millions	Feb. 03, 2024	Jan. 28, 2023
Derivatives, Fair Value [Line Items]
Notional amount	$ 666	$ 670
Derivatives Designated As Net Investment Hedges [Member] | Designated As Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Notional amount	100	114
Interest Rate Swap Derivative Instruments [Member] | Designated As Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Notional amount	500	500
Foreign Exchange Forward Contracts [Member] | Not Designated As Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Notional amount	$ 66	$ 56

Derivative Instruments (Gross F

Derivative Instruments (Gross Fair Values of Outstanding Derivative Instruments) (Details) - Designated As Hedging Instrument [Member] - USD ($) $ in Millions	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Interest Rate Swap Derivative Instruments [Member]
Derivatives, Fair Value [Line Items]
Gain (Loss) Recognized	$ (4)	$ (57)	$ (41)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest Expense	Interest Expense	Interest Expense
Carrying Value of Long Term Debt [Member]
Derivatives, Fair Value [Line Items]
Gain (Loss) Recognized	$ 4	$ 57	$ 41
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest Expense	Interest Expense	Interest Expense

Leases (Supplemental Balance Sh

Leases (Supplemental Balance Sheet Information) (Details) - USD ($) $ in Millions	Feb. 03, 2024	Jan. 28, 2023
Assets
Operating leases	$ 2,758	$ 2,746
Finance leases	$ 43	$ 50
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Property Under Finance Leases	Property Under Finance Leases
Total lease assets	$ 2,801	$ 2,796
Current:
Operating leases	618	638
Finance leases	$ 13	$ 16
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Long-term Debt, Current Maturities	Long-term Debt, Current Maturities
Non-current:
Operating leases	$ 2,199	$ 2,164
Finance leases	$ 21	$ 26
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Long-term Debt and Capital Lease Obligations	Long-term Debt and Capital Lease Obligations
Total lease liabilities	$ 2,851	$ 2,844
Accumulated depreciation	4,816	4,624
Finance Leases [Member]
Non-current:
Accumulated depreciation	$ 54	$ 50

Leases (Components of Lease Cos

Leases (Components of Lease Cost) (Details) - USD ($) $ in Millions	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Leases [Abstract]
Operating lease cost	$ 777	$ 780	$ 770
Depreciation of lease assets	16	15	13
Interest on lease liabilities	1	1	1
Variable lease cost	239	233	238
Sublease income	(11)	(12)	(13)
Total lease cost	$ 1,022	$ 1,017	$ 1,009

Leases (Other Information) (Det

Leases (Other Information) (Details) - USD ($) $ in Millions	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 772	$ 781
Operating cash flows from finance leases	1	1
Financing cash flows from finance leases	14	18
Lease assets obtained in exchange for new lease liabilities:
Operating leases	717	809
Finance leases	$ 11	$ 18
Weighted average remaining lease term (in years):
Operating leases	5 years 2 months 12 days	5 years 1 month 6 days
Finance leases	5 years 10 months 24 days	5 years 6 months
Weighted average discount rate:
Operating leases	3.60%	3%
Finance leases	3.90%	3.20%

Leases (Future Lease Payments)

Leases (Future Lease Payments) (Details) - USD ($) $ in Millions	Feb. 03, 2024	Jan. 28, 2023
Operating Leases
2025	$ 708
2026	675
2027	559
2028	432
2029	288
Thereafter	460
Total future undiscounted lease payments	3,122
Less imputed interest	305
Total reported lease liability	2,817
Financing Leases
2025	16
2026	10
2027	6
2028	3
2029	1
Thereafter	3
Total future undiscounted lease payments	39
Less imputed interest	5
Total reported lease liability	34	$ 42
Leases signed but not yet commenced	$ 118

Debt (Short-Term Debt) (Narrati

Debt (Short-Term Debt) (Narrative) (Details) (Details) - Five-Year Facility Agreement [Member] - Revolving Credit Facility [Member] - USD ($)	Apr. 12, 2023	Feb. 03, 2024	Jan. 28, 2023
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
Fed Funds Effective Rate Overnight Index Swap Rate [Member]
Line of Credit Facility [Line Items]
Interest rate	0.50%
SOFR [Member]
Line of Credit Facility [Line Items]
Variable interest rate	1%
Minimum [Member]
Line of Credit Facility [Line Items]
Facility fee	0.07%
Minimum [Member] | SOFR [Member]
Line of Credit Facility [Line Items]
Variable interest rate	0.68%
Minimum [Member] | Alternative Base Rate [Member]
Line of Credit Facility [Line Items]
Variable interest rate	0%
Maximum [Member]
Line of Credit Facility [Line Items]
Facility fee	0.15%
Maximum [Member] | SOFR [Member]
Line of Credit Facility [Line Items]
Variable interest rate	1.10%
Maximum [Member] | Alternative Base Rate [Member]
Line of Credit Facility [Line Items]
Variable interest rate	0.10%

Debt (Long-Term Debt) (Narrativ

Debt (Long-Term Debt) (Narrative) (Details) - USD ($)	1 Months Ended	12 Months Ended
	Sep. 30, 2018	Feb. 03, 2024
Debt Instrument [Line Items]
Future maturities, 2025		$ 0
Future maturities, 2026		0
Future maturities, 2027		0
Future maturities, 2028		0
Future maturities, 2029		0
Notes Due 2028 [Member]
Debt Instrument [Line Items]
Principal amount		$ 500,000,000
Debt issuance costs	$ 5,000,000
Proceeds from debt, net of issuance costs	$ 495,000,000
Redemption price, percentage		100%
Control triggering percentage		101%
Interest rate		4.45%
Notes Due 2030 [Member]
Debt Instrument [Line Items]
Principal amount		$ 650,000,000
Unamortized discount		8,000,000
Proceeds from debt, net of issuance costs		$ 642,000,000
Redemption price, percentage		100%
Control triggering percentage		101%
Interest rate		1.95%

Debt (Schedule of Long-Term Deb

Debt (Schedule of Long-Term Debt) (Details) - USD ($) $ in Millions	Feb. 03, 2024	Jan. 28, 2023
Debt Instrument [Line Items]
Total	$ 1,139	$ 1,143
Debt discounts and issuance costs	(8)	(9)
Finance lease obligations	34	42
Total long-term debt	1,165	1,176
Less current portion	13	16
Total long-term debt, less current portion	1,152	1,160
Interest Rate Swap Derivative Instruments [Member]
Debt Instrument [Line Items]
Interest rate swap valuation adjustments	(11)	(7)
Notes Due 2028 [Member]
Debt Instrument [Line Items]
Long-term debt	500	500
Notes Due 2030 [Member]
Debt Instrument [Line Items]
Long-term debt	$ 650	$ 650

Shareholders' Equity (Narrative

Shareholders' Equity (Narrative) (Details) - USD ($)	12 Months Ended
	Feb. 01, 2025	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022	Feb. 28, 2022	Feb. 16, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized		18,600,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant		13,000,000
Stock Repurchase Program, Authorized Amount					$ 5,000,000,000	$ 5,000,000,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount		$ 3,784,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Unexercisable, Weighted Average Exercise Price		$ 59.71
Repurchase of common stock		$ 340,000,000	$ 1,001,000,000	$ 3,504,000,000
Repurchase of common stock (in shares)		4,700,000	11,800,000	32,200,000
Forecast [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Repurchase of common stock	$ 350,000,000
Share-based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage		33%
Share-Based Payment Arrangement, Tranche Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage		33%
Share-Based Payment Arrangement, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage		33%
Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		10 years
Aggregate intrinsic value		$ 2,000,000	$ 6,000,000	$ 19,000,000
Proceeds from Stock Options Exercised		9,000,000	$ 4,000,000	$ 18,000,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized		$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross		0	0	0
Stock Option [Member] | Share-based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage		33%
Stock Option [Member] | Share-Based Payment Arrangement, Tranche Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage		33%
Stock Option [Member] | Share-Based Payment Arrangement, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage		33%
Time-Based Share Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		1 year
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value		$ 114,000,000	$ 159,000,000	$ 194,000,000
Employee Service Share-based Compensation, Tax Benefit from Exercise of Stock Options		24,000,000	33,000,000	41,000,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized		$ 140,000,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition		1 year 9 months 18 days
Time-Based Share Awards [Member] | Share-based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage		33%
Time-Based Share Awards [Member] | Share-Based Payment Arrangement, Tranche Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage		33%
Time-Based Share Awards [Member] | Share-Based Payment Arrangement, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage		33%
Performance-Based Share Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value		$ 15,000,000	37,000,000	43,000,000
Employee Service Share-based Compensation, Tax Benefit from Exercise of Stock Options		1,000,000	3,000,000	3,000,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized		$ 1,000,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition		2 months 12 days
Share Based Compensation, Performance Target		100%
Market-Based Share Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value			18,000,000	27,000,000
Employee Service Share-based Compensation, Tax Benefit from Exercise of Stock Options			$ 2,000,000	$ 3,000,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized		$ 21,000,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition		1 year 8 months 12 days
Share Based Compensation, Performance Target		100%
Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Repurchase of common stock (in shares)		4,700,000	11,800,000	32,200,000
Minimum [Member] | Performance-Based Share Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Based Compensation, Performance Target		0%
Minimum [Member] | Market-Based Share Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Based Compensation, Performance Target		0%
Maximum [Member] | Performance-Based Share Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Based Compensation, Performance Target		150%
Maximum [Member] | Market-Based Share Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Based Compensation, Performance Target		150%

Shareholders' Equity (Stock-Bas

Shareholders' Equity (Stock-Based Compensation Expense) (Details) - USD ($) $ in Millions	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 145	$ 138	$ 141
Income tax benefits	27	27	26
Stock-based compensation expense, net of tax	118	111	115
Time-Based Share Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	126	121	109
Market-Based Share Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 19	14	12
Performance-Based Share Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense			17
Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		$ 3	$ 3

Shareholders' Equity (Time-Base

Shareholders' Equity (Time-Based Share Awards) (Details) - Time-Based Share Awards [Member]	12 Months Ended
	Feb. 03, 2024 $ / shares shares
Shares
Outstanding | shares	3,046
Granted | shares	2,003
Vested and distributed | shares	(1,476)
Forfeited | shares	(307)
Outstanding | shares	3,266
Weighted-Average Fair Value per Share
Outstanding | $ / shares	$ 90.96
Granted | $ / shares	77.70
Vested and distributed | $ / shares	85.71
Forfeited | $ / shares	91.83
Outstanding | $ / shares	$ 85.71

Shareholders' Equity (Market-Ba

Shareholders' Equity (Market-Based Share Awards) (Details) - Market-Based Share Awards [Member]	12 Months Ended
	Feb. 03, 2024 $ / shares shares
Shares
Outstanding | shares	514
Granted | shares	267
Adjustment for performance achievement | shares	(178)
Forfeited | shares	(24)
Outstanding | shares	579
Weighted-Average Fair Value per Share
Outstanding | $ / shares	$ 96.61
Granted | $ / shares	86.95
Adjustment for performance achievement | $ / shares	53.18
Forfeited | $ / shares	98.03
Outstanding | $ / shares	$ 106.38

Shareholders' Equity (Performan

Shareholders' Equity (Performance-Based Share Awards) (Details) - Performance-Based Share Awards [Member]	12 Months Ended
	Feb. 03, 2024 $ / shares shares
Shares
Outstanding | shares	288
Granted | shares	2
Adjustment for performance achievement | shares	(46)
Distributed | shares	(195)
Forfeited | shares	(4)
Outstanding | shares	45
Weighted-Average Fair Value per Share
Outstanding | $ / shares	$ 67.36
Granted | $ / shares	111.87
Adjustment for performance achievement | $ / shares	51.79
Distributed | $ / shares	61.07
Forfeited | $ / shares	77.40
Outstanding | $ / shares	$ 111.68

Shareholders' Equity (Stock Opt

Shareholders' Equity (Stock Option Activity) (Details) - Stock Option [Member] - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Stock Options
Outstanding	720
Granted	0	0	0
Exercised	(152)
Forfeited	(39)
Outstanding	529	720
Weighted-Average Exercise Price per Share
Outstanding	$ 60.91
Exercised	62.97
Forfeited	69.11
Outstanding	$ 59.71	$ 60.91
Weighted-Average Remaining Contractual Term [Abstract]
Outstanding	4 years 10 months 24 days
Aggregate Intrinsic Value [Abstract]
Outstanding	$ 8

Shareholders' Equity (Earnings

Shareholders' Equity (Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Numerator [Abstract]
Net earnings	$ 1,241	$ 1,419	$ 2,454
Denominator [Abstract]
Weighted-average common shares outstanding (in shares)	217.7	224.8	246.8
Effect of Potentially Dilutive Securities [Abstract]
Dilutive effect of stock compensation plan awards (in shares)	0.8	0.9	2.5
Weighted-average common shares outstanding, assuming dilution (in shares)	218.5	225.7	249.3
Potential shares which were anti-dilutive and excluded from weighted-average share computations (in shares)		0.7	0.1
Earnings per share attributable to Best Buy Co., Inc.
Basic (in dollars per share)	$ 5.70	$ 6.31	$ 9.94
Diluted (in dollars per share)	$ 5.68	$ 6.29	$ 9.84

Shareholders' Equity (Schedule

Shareholders' Equity (Schedule of Share Repurchases) (Details) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Shareholders' Equity [Abstract]
Total cost of shares repurchased	$ 340	$ 1,001	$ 3,504
Average price per share	$ 72.52	$ 84.78	$ 108.97
Total number of shares repurchased	4.7	11.8	32.2

Revenue (Narrative) (Details)

Revenue (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023
Revenue [Abstract]
Revenue recognized	$ 1,283	$ 1,346

Revenue (Contract Balances and

Revenue (Contract Balances and Changes in Contract Balances) (Details) - USD ($) $ in Millions	Feb. 03, 2024	Jan. 28, 2023
Revenue from Contract with Customer [Line Items]
Receivables, net	$ 512	$ 581
Receivables, allowance for doubtful accounts	23	22
Unredeemed Gift Cards [Member]
Revenue from Contract with Customer [Line Items]
Short-term contract liabilities	253	274
Deferred Revenue [Member]
Revenue from Contract with Customer [Line Items]
Short-term contract liabilities	1,000	1,116
Accrued Liabilities [Member]
Revenue from Contract with Customer [Line Items]
Short-term contract liabilities	53	66
Long-Term Liabilities [Member]
Revenue from Contract with Customer [Line Items]
Long-term contract liabilities	$ 245	$ 265

Revenue (Expected Timing for Sa

Revenue (Expected Timing for Satisfying Remaining Performance Obligation) (Details) $ in Millions	Feb. 03, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-25
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Estimated revenue from our contract liability balances	$ 33
Performance obligations from contract liability balances, duration	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-31
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Estimated revenue from our contract liability balances	$ 33
Performance obligations from contract liability balances, duration	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-30
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Estimated revenue from our contract liability balances	$ 25
Performance obligations from contract liability balances, duration	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-29
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Estimated revenue from our contract liability balances	$ 25
Performance obligations from contract liability balances, duration	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-01-27
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Estimated revenue from our contract liability balances	$ 25
Performance obligations from contract liability balances, duration	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2030-02-02
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Estimated revenue from our contract liability balances	$ 137
Performance obligations from contract liability balances, duration	1 year

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Effective Income Tax Rate [Line Items]
Total net operating loss carryforwards	$ 118
Net operating loss carryforwards subject to expiration	32
Valuation allowance	175	$ 150
Unrecognized tax benefits that would impact the effective tax rate if recognized	121	141	$ 214
Interest expense recognized as component of income tax expense	3	6	20
Accrued interest in income tax expense	43	$ 42	$ 46
International [Member]
Effective Income Tax Rate [Line Items]
Total net operating loss carryforwards	1
Tax credit carryforwards	8
Valuation allowance	7
Tax credit carryforwards, valuation allowance	1
Net operating loss carryforwards, valuation allowance	14
Inflation Reduction Act of 2022
Effective Income Tax Rate [Line Items]
Total net operating loss carryforwards	5
Net operating loss carryforwards subject to expiration	2
Tax credit carryforwards, valuation allowance	29
Foreign Tax Credit Carryforwards [Member] | Inflation Reduction Act of 2022
Effective Income Tax Rate [Line Items]
Tax credit carryforwards	29
State [Member]
Effective Income Tax Rate [Line Items]
Total net operating loss carryforwards	10
Tax credit carryforwards, valuation allowance	124
State [Member] | Foreign Tax Credit Carryforwards [Member]
Effective Income Tax Rate [Line Items]
Tax credit carryforwards	$ 2

Income Taxes (Reconciliation of

Income Taxes (Reconciliation of Federal Statutory Income Tax Rate to Income Tax Expense) (Details) - USD ($) $ in Millions	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Federal income tax at the statutory rate	$ 340	$ 376	$ 635
State income taxes, net of federal benefit	57	63	88
Change in unrecognized tax benefits	(6)	(45)	(88)
Benefit from foreign operations	(8)	(4)	(8)
Other	(2)	(20)	(53)
Income tax expense	$ 381	$ 370	$ 574
Effective income tax rate	23.50%	20.70%	19%

Income Taxes (Earning Before In

Income Taxes (Earning Before Income Tax Expense and Equity in Income of Affiliates) (Details) - USD ($) $ in Millions	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Income Taxes [Abstract]
United States	$ 1,389	$ 1,533	$ 2,677
Foreign	232	255	347
Earnings before income tax expense and equity in income of affiliates	$ 1,621	$ 1,788	$ 3,024

Income Taxes (Income Tax Expens

Income Taxes (Income Tax Expense (Benefit)) (Details) - USD ($) $ in Millions	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Current:
Federal	$ 452	$ 213	$ 367
State	104	64	132
Foreign	39	42	61
Current income tax expense	595	319	560
Deferred:
Federal	(177)	33	22
State	(37)	19	(9)
Foreign		(1)	1
Deferred income tax expense (benefit)	(214)	51	14
Income tax expense	$ 381	$ 370	$ 574

Income Taxes (Deferred Income T

Income Taxes (Deferred Income Tax Assets and Liabilities) (Details) - USD ($) $ in Millions	Feb. 03, 2024	Jan. 28, 2023
Components of deferred tax assets and liabilities
Deferred revenue	$ 127	$ 67
Compensation and benefits	91	41
Stock-based compensation	32	29
Other accrued expenses	45	47
Operating lease liabilities	730	729
Loss and credit carryforwards	173	161
Other	42	43
Total deferred tax assets	1,240	1,117
Valuation allowance	(175)	(150)
Total deferred tax assets after valuation allowance	1,065	967
Inventory	(45)	(37)
Property and equipment	(49)	(169)
Operating lease assets	(701)	(698)
Goodwill and intangibles	(81)	(71)
Other	(22)	(39)
Total deferred tax liabilities	(898)	(1,014)
Net deferred tax assets	167
Net deferred tax liabilities		(47)
Other assets [Member]
Components of deferred tax assets and liabilities
Net deferred tax assets	$ 167	4
Long-Term Liabilities [Member]
Components of deferred tax assets and liabilities
Net deferred tax liabilities		$ (51)

Income Taxes (Reconciliation _2

Income Taxes (Reconciliation of Changes in Unrecognized Tax Benefits) (Details) - USD ($) $ in Millions	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Reconciliation of changes in unrecognized tax benefits
Balances at beginning of period	$ 163	$ 235	$ 327
Gross increases related to prior period tax positions	10	28	3
Gross decreases related to prior period tax positions	(11)	(75)	(103)
Gross increases related to current period tax positions	20	21	28
Settlements with taxing authorities	(3)		(7)
Lapse of statute of limitations	(39)	(46)	(13)
Balances at end of period	$ 140	$ 163	$ 235

Benefit Plans (Details)

Benefit Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Benefit Plans [Abstract]
Maximum percentage of a participant's eligible compensation that a participant may contribute annually to the plan (as a percent)	50%
Percentage of matching contribution made by company of first 3% of participating employees' contributions (as a percent)	100%
Percentage of participating employees' contribution, matched 100% (as a percent)	3%
Percentage of matching contribution made by company, of next 2% of participating employees' contributions (as a percent)	50%
Percentage of participating employees' contribution, matched 50% (as a percent)	2%
Deferred Compensation Arrangement with Individual, Contributions by Employer	$ 76	$ 77	$ 77
Deferred Compensation Liability, Classified, Noncurrent	$ 24	$ 20

Contingencies and Commitments (

Contingencies and Commitments (Details) $ in Millions	Feb. 03, 2024 USD ($)
Contingencies and Commitments [Abstract]
Letters of Credit Outstanding, Amount	$ 71

Segment and Geographic Inform_3

Segment and Geographic Information (Revenue by Reportable Segment and Product Category) (Details) - USD ($) $ in Millions	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 43,452	$ 46,298	$ 51,761
Domestic Segment [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	40,097	42,794	47,830
Domestic Segment [Member] | Computing and Mobile Phones [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	16,930	18,191	20,693
Domestic Segment [Member] | Consumer Electronics [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	12,014	13,040	15,009
Domestic Segment [Member] | Appliances [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	5,469	6,381	6,784
Domestic Segment [Member] | Entertainment [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	3,063	2,786	2,963
Domestic Segment [Member] | Services [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	2,357	2,149	2,190
Domestic Segment [Member] | Other [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	264	247	191
International Segment [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	3,355	3,504	3,931
International Segment [Member] | Computing and Mobile Phones [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	1,552	1,575	1,785
International Segment [Member] | Consumer Electronics [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	955	1,054	1,194
International Segment [Member] | Appliances [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	335	355	383
International Segment [Member] | Entertainment [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	300	267	312
International Segment [Member] | Services [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	173	183	190
International Segment [Member] | Other [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 40	$ 70	$ 67

Segment and Geographic Inform_4

Segment and Geographic Information (Segment Information) (Details) - USD ($) $ in Millions	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Business segment information
Operating income	$ 1,574	$ 1,795	$ 3,039
Other income (expense):
Gain on sale of subsidiary, net	21
Investment income and other	78	28	10
Interest expense	(52)	(35)	(25)
Earnings before income tax expense and equity in income of affiliates	1,621	1,788	3,024
Total assets	14,967	15,803	17,504
Total capital expenditures	795	930	737
Total depreciation	862	832	787
Domestic Segment [Member]
Business segment information
Operating income	1,467	1,634	2,795
Other income (expense):
Total assets	13,660	14,549	16,016
Total capital expenditures	760	891	691
Total depreciation	819	787	738
International Segment [Member]
Business segment information
Operating income	107	161	244
Other income (expense):
Total assets	1,307	1,254	1,488
Total capital expenditures	35	39	46
Total depreciation	$ 43	$ 45	$ 49

Segment and Geographic Inform_5

Segment and Geographic Information (Geographic Information) (Details) - USD ($) $ in Millions	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Segment Reporting Information [Line Items]
Revenues	$ 43,452	$ 46,298	$ 51,761
Property and equipment, net	2,260	2,352	2,250
United States
Segment Reporting Information [Line Items]
Revenues	40,097	42,794	47,830
Property and equipment, net	2,157	2,243	2,128
Canada
Segment Reporting Information [Line Items]
Revenues	3,355	3,504	3,911
Property and equipment, net	102	107	120
Other
Segment Reporting Information [Line Items]
Revenues			20
Property and equipment, net	$ 1	$ 2	$ 2

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Feb. 03, 2024 shares
Insider Trading Arrangements [Line Items]
Material Terms of Trading Arrangement	Rule 10b5-1 Plan Elections Set forth below are developments regarding trading plan arrangements among our directors and officers (as defined in Rule 16a-1(f) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) for the quarter ended February 3, 2024.  On December 6, 2023 , Jason Bonfig , the Company’s Senior Executive Vice President of Customer Offerings and Fulfillment , entered into a trading plan intended to satisfy the affirmative defense conditions of Rule 10b5-1 (c) under the Exchange Act, providing for the potential sale of up to 28,500 shares of our common stock through February 28, 2025 .
Name	Jason Bonfig
Title	Senior Executive Vice President of Customer Offerings and Fulfillment
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	December 6, 2023
Rule 10b5-1 Arrangement Terminated	false
Termination Date	February 28, 2025
Aggregate Available	28,500