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.
