Exhibit 99.4
Best Buy Co., Inc.
Supplemental Historical Information*
Consolidated Statements of Cash Flows
($ in millions)
(Unaudited)
| | Six Months Ended | | Nine Months Ended | |
| | Aug. 31, 2002 | | Nov. 30, 2002 | |
Operating Activities | | | | | |
Net loss | | $ | (271 | ) | $ | (212 | ) |
Loss from discontinued operations, net of tax | | 347 | | 374 | |
Cumulative effect of change in accounting principles, net of tax | | 82 | | 82 | |
Earnings from continuing operations | | 158 | | 244 | |
Adjustments to reconcile earnings from continuing operations to net cash used in operating activities: | | | | | |
Depreciation | | 146 | | 225 | |
Deferred income taxes | | (9 | ) | (14 | ) |
Other | | 10 | | 15 | |
Changes in operating assets and liabilities, net of acquired assets and liabilities: | | | | | |
Receivables | | (14 | ) | (354 | ) |
Merchandise inventories | | (322 | ) | (1,612 | ) |
Other assets | | (21 | ) | (32 | ) |
Accounts payable | | (125 | ) | 1,465 | |
Other liabilities | | (4 | ) | 95 | |
Income taxes | | (114 | ) | (71 | ) |
Total cash used in operating activities from continuing operations | | (295 | ) | (39 | ) |
Investing Activities | | | | | |
Additions to property and equipment | | (403 | ) | (598 | ) |
Acquisition of business, net of cash acquired | | — | | (3 | ) |
Decrease in recoverable costs from developed properties | | 21 | | 44 | |
Total cash used in investing activities from continuing operations | | (382 | ) | (557 | ) |
Financing Activities | | | | | |
Net proceeds from issuance of long-term debt | | 10 | | 15 | |
Long-term debt payments | | (4 | ) | (12 | ) |
Issuance of common stock | | 36 | | 39 | |
Total cash provided by financing activities from continuing operations | | 42 | | 42 | |
Net Cash Used in Discontinued Operations | | (112 | ) | (158 | ) |
Decrease in Cash and Cash Equivalents | | (747 | ) | (712 | ) |
Cash and Cash Equivalents at Beginning of Year | | 1,861 | | 1,861 | |
Cash and Cash Equivalents at End of Period | | $ | 1,114 | | $ | 1,149 | |
*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. Certain other amounts have been reclassified to conform to the current year’s presentation.
