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Shareholders' Equity (Tables) | 12 Months Ended
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Jan. 30, 2016
Equity [Abstract] |
Stock-based compensation expense | Stock-based compensation expense was as follows in fiscal 2016, 2015 and 2014 ($ in millions):
| 2016 |  | 2015 |  | 2014
Stock options | $ | 15 |  |  | $ | 17 |  |  | $ | 25 |
Share awards |  |  |  |  |
Market-based | 16 |  |  | 10 |  |  | 9 |
Time-based | 73 |  |  | 60 |  |  | 62 |
Employee stock purchase plans | — |  |  | — |  |  | 1 |
Total | $ | 104 |  |  | $ | 87 |  |  | $ | 97 |
Stock option activity | Stock option activity was as follows in fiscal 2016:
| Stock Options |  | Weighted-Average Exercise Price per Share |  | Weighted-Average Remaining Contractual Term (in years) |  | Aggregate Intrinsic Value (in millions)
Outstanding at January 31, 2015 | 17,342,000 |  |  | $ | 36.81 |  |  |  |  |  |
Granted | 1,267,000 |  |  | $ | 40.68 |  |  |  |  |  |
Exercised | (1,432,000 | ) |  | $ | 28.24 |  |  |  |  |  |
Forfeited/Canceled | (2,935,000 | ) |  | $ | 44.15 |  |  |  |  |  |
Outstanding at January 30, 2016 | 14,242,000 |  |  | $ | 36.51 |  |  | 4.7 |  | $ | 20 |
Vested or expected to vest at January 30, 2016 | 13,986,000 |  |  | $ | 36.47 |  |  | 4.6 |  | $ | 20 |
Exercisable at January 30, 2016 | 11,668,000 |  |  | $ | 37.09 |  |  | 3.8 |  | $ | 18 |
Assumption used to estimate the fair value of stock option on the date of grant using a lattice or Black Scholes model | In fiscal 2016, 2015 and 2014, we estimated the fair value of each stock option on the date of grant using a lattice or Black Scholes valuation model (for certain individuals) with the following assumptions:
Valuation Assumptions(1) |  | 2016 |  | 2015 |  | 2014
Risk-free interest rate(2) |  | 0.1% – 2.1% |  |  | 0.1% – 2.4% |  |  | 0.1% – 1.8% |
Expected dividend yield |  | 2.3 | % |  | 2.5 | % |  | 2.0 | %
Expected stock price volatility(3) |  | 37 | % |  | 40 | % |  | 46 | %
Expected life of stock options (in years)(4) |  | 6.0 |  |  | 6.0 |  |  | 5.9 |
(1) | Forfeitures are estimated using historical experience and projected employee turnover.
(2) | Based on the U.S. Treasury constant maturity interest rate whose term is consistent with the expected life of our stock options.
(3) | In projecting expected stock price volatility, we consider both the historical volatility of our stock price as well as implied volatilities from exchange-traded options on our stock.
(4) | We estimate the expected life of stock options based upon historical experience.
Summary of the status of nonvested market-based share awards | A summary of the status of our nonvested market-based share awards at January 30, 2016, and changes during fiscal 2016, is as follows:
Market-Based Share Awards |  | Shares |  | Weighted-Average Fair Value per Share
Outstanding at January 31, 2015 |  | 1,704,000 |  |  | $ | 24.16 |
Granted |  | 758,000 |  |  | $ | 31.48 |
Vested |  | (914,000 | ) |  | $ | 16.73 |
Forfeited/Canceled |  | (86,000 | ) |  | $ | 28.85 |
Outstanding at January 30, 2016 |  | 1,462,000 |  |  | $ | 32.33 |
Summary of the status of nonvested time-based share awards | A summary of the status of our nonvested time-based share awards at January 30, 2016, and changes during fiscal 2016, is as follows:
Time-Based Share Awards |  | Shares |  | Weighted-Average Fair Value per Share
Outstanding at January 31, 2015 |  | 5,543,000 |  |  | $ | 24.40 |
Granted |  | 2,683,000 |  |  | $ | 38.72 |
Vested |  | (2,503,000 | ) |  | $ | 23.10 |
Forfeited/Canceled |  | (620,000 | ) |  | $ | 29.98 |
Outstanding at January 30, 2016 |  | 5,103,000 |  |  | $ | 31.89 |
Summary of stock options outstanding | At January 30, 2016, options to purchase 14.2 million shares of common stock were outstanding as follows (shares in millions):
| Exercisable |  | Unexercisable |  | Total
| Shares |  | % |  | Weighted- Average Price per Share |  | Shares |  | % |  | Weighted- Average Price per Share |  | Shares |  | % |  | Weighted- Average Price per Share
In-the-money | 4.2 |  |  | 36 | % |  | $ | 24.73 |  |  | 1.3 |  |  | 52 | % |  | $ | 27.45 |  |  | 5.5 |  |  | 39 | % |  | $ | 25.37 |
Out-of-the-money | 7.5 |  |  | 64 | % |  | $ | 44.15 |  |  | 1.2 |  |  | 48 | % |  | $ | 40.51 |  |  | 8.7 |  |  | 61 | % |  | $ | 43.62 |
Total | 11.7 |  |  | 100 | % |  | $ | 37.09 |  |  | 2.5 |  |  | 100 | % |  | $ | 33.87 |  |  | 14.2 |  |  | 100 | % |  | $ | 36.51 |
Reconciliation of the numerators and denominators of basic and diluted earnings per share | The following table presents a reconciliation of the numerators and denominators of basic and diluted earnings per share from continuing operations attributable to Best Buy Co., Inc. in fiscal 2016, 2015 and 2014 ($, except per share amounts, and shares in millions):
| 2016 |  | 2015 |  | 2014
Numerator (in millions): |  |  |  |  |
Net earnings from continuing operations attributable to Best Buy Co., Inc., shareholders | $ | 807 |  |  | $ | 1,246 |  |  | $ | 695 |
Denominator (in millions): |  |  |  |  |
Weighted-average common shares outstanding | 346.5 |  |  | 349.5 |  |  | 342.1 |
Effect of potentially dilutive securities: |  |  |  |  |
Stock options and other | 4.2 |  |  | 4.1 |  |  | 5.5 |
Weighted-average common shares outstanding, assuming dilution | 350.7 |  |  | 353.6 |  |  | 347.6 |
Net earnings per share from continuing operations attributable to Best Buy Co., Inc. shareholders |  |  |  |  |
Basic | $ | 2.33 |  |  | $ | 3.57 |  |  | $ | 2.03 |
Diluted | $ | 2.30 |  |  | $ | 3.53 |  |  | $ | 2.00 |
Repurchases of common stock | The following table presents information regarding the shares we repurchased and retired in fiscal 2016, noting that we had no repurchases and retirements in fiscal 2015 and 2014 ($, except per share amounts, and shares in millions):
|  | 2016
Total cost of shares repurchased |  |
Open market |  | $ | 880 |
January 2016 ASR |  | 120 |
Total |  | $ | 1,000 |
Average price per share |  |
Open market |  | $ | 31.03 |
January 2016 ASR |  | $ | 27.28 |
Average |  | $ | 30.53 |
Number of shares repurchased and retired |  |
Open market |  | 28.4 |
January 2016 ASR |  | 4.4 |
Total |  | 32.8 |
Components of accumulated other comprehensive income, net of tax | The following table provides a reconciliation of the components of accumulated other comprehensive income, net of tax, attributable to Best Buy Co., Inc. shareholders for fiscal 2016, 2015, and 2014, respectively ($ in millions):
| Foreign Currency Translation |  | Available-For-Sale Investments |  | Total
Balances at February 2, 2013 | $ | 113 |  |  | $ | (1 | ) |  | $ | 112 |
Foreign currency translation adjustments | (136 | ) |  | — |  |  | (136 | )
Unrealized gains on available-for-sale investments | — |  |  | 7 |  |  | 7 |
Reclassification of foreign currency translation adjustments into earnings due to sale of business | 508 |  |  | — |  |  | 508 |
Reclassification of losses on available-for-sale investments into earnings | — |  |  | 1 |  |  | 1 |
Balances at February 1, 2014 | $ | 485 |  |  | $ | 7 |  |  | $ | 492 |
Foreign currency translation adjustments | (103 | ) |  | — |  |  | (103 | )
Unrealized losses on available-for-sale investments | — |  |  | (3 | ) |  | (3 | )
Reclassification of gains on available-for-sale investments into earnings | — |  |  | (4 | ) |  | (4 | )
Balances at January 31, 2015 | $ | 382 |  |  | $ | — |  |  | $ | 382 |
Foreign currency translation adjustments | (44 | ) |  | — |  |  | (44 | )
Reclassification of foreign currency translation adjustments into earnings | (67 | ) |  | — |  |  | (67 | )
Balances at January 30, 2016 | $ | 271 |  |  | $ | — |  |  | $ | 271 |

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