Exhibit 99.3
Best Buy Co., Inc.
Supplemental Historical Information*
Consolidated Statements of Earnings
($ in millions, except per share amounts)
(Unaudited)
|
| Three Months Ended |
| Nine Months Ended |
| ||
|
| Nov. 30, 2002 |
| Nov. 30, 2002 |
| ||
Revenue |
| $ | 5,131 |
| $ | 13,957 |
|
Cost of goods sold |
| 3,881 |
| 10,474 |
| ||
Gross profit |
| 1,250 |
| 3,483 |
| ||
Selling, general and administrative expenses |
| 1,110 |
| 3,085 |
| ||
Operating income |
| 140 |
| 398 |
| ||
Net interest expense |
| — |
| 1 |
| ||
Earnings from continuing operations before income tax expense |
| 140 |
| 397 |
| ||
Income tax expense |
| 54 |
| 153 |
| ||
Earnings from continuing operations |
| 86 |
| 244 |
| ||
Loss from discontinued operations, net of tax |
| (27 | ) | (374 | ) | ||
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) |
| $ | 59 |
| $ | (212 | ) |
Basic earnings (loss) per share: |
|
|
|
|
| ||
Continuing operations |
| $ | 0.27 |
| $ | 0.76 |
|
Discontinued operations |
| (0.08 | ) | (1.17 | ) | ||
Cumulative effect of accounting changes |
| — |
| (0.25 | ) | ||
Basic earnings (loss) per share |
| $ | 0.18 |
| $ | (0.66 | ) |
Diluted earnings (loss) per share: |
|
|
|
|
| ||
Continuing operations |
| $ | 0.27 |
| $ | 0.75 |
|
Discontinued operations |
| (0.08 | ) | (1.15 | ) | ||
Cumulative effect of accounting changes |
| — |
| (0.25 | ) | ||
Diluted earnings (loss) per share |
| $ | 0.18 |
| $ | (0.65 | ) |
Basic weighted average common shares outstanding (in millions) |
| 321.5 |
| 320.9 |
| ||
Diluted weighted average common shares outstanding (in millions) |
| 324.1 |
| 324.9 |
|
*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.