Exhibit 99.2
Best Buy Co., Inc.
Supplemental Historical Information*
Consolidated Statements of Earnings
($ in millions, except per share amounts)
(Unaudited)
| | Three Months Ended | | Six Months Ended | |
| | Aug. 31, 2002 | | Aug. 31, 2002 | |
Revenue | | $ | 4,624 | | $ | 8,826 | |
Cost of goods sold | | 3,471 | | 6,593 | |
Gross profit | | 1,153 | | 2,233 | |
Selling, general and administrative expenses | | 1,024 | | 1,975 | |
Operating income | | 129 | | 258 | |
Net interest expense | | 2 | | 1 | |
Earnings from continuing operations before income tax expense | | 127 | | 257 | |
Income tax expense | | 48 | | 99 | |
Earnings from continuing operations | | 79 | | 158 | |
Loss from discontinued operations, net of tax | | (17 | ) | (347 | ) |
Cumulative effect of change in accounting principle for goodwill, net of $24 tax | | — | | (40 | ) |
Cumulative effect of change in accounting principle for vendor allowances, net of $26 tax | | — | | (42 | ) |
Net earnings (loss) | | $ | 62 | | $ | (271 | ) |
Basic earnings (loss) per share: | | | | | |
Continuing operations | | $ | 0.24 | | $ | 0.49 | |
Discontinued operations | | (0.05 | ) | (1.08 | ) |
Cumulative effect of accounting changes | | — | | (0.25 | ) |
Basic earnings (loss) per share | | $ | 0.19 | | $ | (0.85 | ) |
Diluted earnings (loss) per share: | | | | | |
Continuing operations | | $ | 0.24 | | $ | 0.48 | |
Discontinued operations | | (0.05 | ) | (1.07 | ) |
Cumulative effect of accounting changes | | — | | (0.25 | ) |
Diluted earnings (loss) per share | | $ | 0.19 | | $ | (0.83 | ) |
Basic weighted average common shares outstanding (in millions) | | 321.3 | | 320.7 | |
Diluted weighted average common shares outstanding (in millions) | | 324.5 | | 325.4 | |
*Note: This presentation reflects: (a) the classification of Musicland as discontinued operations; and (b) the adoption of the accounting principle established in EITF Issue No. 02-16, Accounting by a Reseller for Cash Consideration Received from a Vendor, in each case, as if such changes were in effect as of and for the dates indicated.
