BEST BUY CO INCBBY

BEST BUY CO INC Segments Disclosure

10-KFiled Mar 18, 20263 min read
Segment and Geographic Information
Revenue information by segment and category was as follows ($ in millions):
202620252024
Domestic:
Computing and Mobile Phones$18,038 $17,103 $16,930 
Consumer Electronics10,527 11,148 12,014 
Appliances4,166 4,589 5,469 
Entertainment2,811 2,641 3,063 
Services2,466 2,456 2,357 
Other270 301 264 
Total Domestic revenue38,278 38,238 40,097 
International:
Computing and Mobile Phones1,676 1,578 1,552 
Consumer Electronics933 917 955 
Appliances303 321 335 
Entertainment281 267 300 
Services190 175 173 
Other30 32 40 
Total International revenue3,413 3,290 3,355 
Total revenue$41,691 $41,528 $43,452 
Adjusted operating income by segment and the reconciliation to consolidated earnings before income tax expense and equity in income of affiliates were as follows ($ in millions):
2026
Domestic (1)
InternationalTotal
Revenue$38,278 $3,413 $41,691 
Cost of sales29,642 2,676 32,318 
Adjusted SG&A (2)
6,966 622 7,588 
Adjusted operating income$1,670 $115 1,785 
Restructuring charges190 
Goodwill and intangible asset impairments171 
Intangible asset amortization14 
Long-lived asset impairment21 
Operating income1,389 
Other income (expense):
Loss on disposal of subsidiaries(6)
Investment income and other68 
Interest expense(47)
Earnings before income tax expense and equity in income of affiliates$1,404 
(1)Domestic segment Adjusted operating income includes certain operations that are based in foreign tax jurisdictions and primarily relate to sourcing products into the U.S.
(2)Adjusted SG&A excludes amortization of definite-lived intangible assets associated with acquisitions and non-cash impairments of certain long-lived assets.

2025
Domestic (1)
InternationalTotal
Revenue$38,238 $3,290 $41,528 
Cost of sales29,591 2,552 32,143 
Adjusted SG&A (2)
7,000 630 7,630 
Adjusted operating income$1,647 $108 1,755 
Restructuring charges(3)
Goodwill impairment475 
Intangible asset amortization21 
Operating income1,262 
Other income (expense):
Investment income and other84 
Interest expense(51)
Earnings before income tax expense and equity in income of affiliates$1,295 
(1)Domestic segment Adjusted operating income includes certain operations that are based in foreign tax jurisdictions and primarily relate to sourcing products into the U.S.
(2)Adjusted SG&A excludes amortization of definite-lived intangible assets associated with acquisitions.
2024
Domestic (1)
InternationalTotal
Revenue$40,097 $3,355 $43,452 
Cost of sales31,247 2,602 33,849 
Adjusted SG&A (2)
7,175 640 7,815 
Adjusted operating income$1,675 $113 1,788 
Restructuring charges153 
Intangible asset amortization61 
Operating income1,574 
Other income (expense):
Gain on sale of subsidiary, net21 
Investment income and other78 
Interest expense(52)
Earnings before income tax expense and equity in income of affiliates$1,621 
(1)Domestic segment Adjusted operating income includes certain operations that are based in foreign tax jurisdictions and primarily relate to sourcing products into the U.S.
(2)Adjusted SG&A excludes amortization of definite-lived intangible assets associated with acquisitions.

Cash flow and other expense information by segment was as follows ($ in millions):
202620252024
Capital expenditures
Domestic$623 $640 $760 
International81 66 35 
Total capital expenditures$704 $706 $795 
Depreciation and amortization
Domestic$788 $825 $880 
International43 41 43 
Total depreciation and amortization$831 $866 $923 

Asset information by segment was as follows ($ in millions):
20262025
Domestic$13,407 $13,567 
International1,263 1,215 
Total assets$14,670 $14,782 

Geographic information was as follows ($ in millions):
202620252024
Revenue from external customers
U.S.$38,278 $38,238 $40,097 
Canada3,413 3,290 3,355 
Total revenue from external customers$41,691 $41,528 $43,452 
20262025
Property and equipment, net
U.S.$1,822 $2,002 
Canada164 120 
Total property and equipment, net$1,986 $2,122 
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Historical Timeline

Fiscal YearFiled
2026Mar 18, 2026Showing above
2025Mar 19, 2025
2024Mar 15, 2024
2023Mar 17, 2023
2022Mar 18, 2022
2021Mar 19, 2021
2020Mar 23, 2020
2019Mar 28, 2019
2018Apr 2, 2018
2017Mar 24, 2017
2016Mar 23, 2016

About Segments Disclosures

Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.

Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.

Other Available Disclosures

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