XML 83 R17.htm IDEA: XBRL DOCUMENT
v3.19.3

Restructuring Charges | 9 Months Ended
--- | ---
Nov. 02, 2019
Restructuring Charges [Abstract] |
Restructuring Charges | 9. Restructuring Charges Restructuring charges incurred in the third quarter and first nine months of fiscal 2020 were $(7) million and $41 million, respectively, related to U.S. retail operating model changes. Restructuring charges incurred in the third quarter and first nine months of fiscal 2019 were $0 million and $47 million, respectively, related to Best Buy Mobile. U.S. Retail Operating Model In the second quarter of fiscal 2020, we made changes primarily related to our U.S. retail operating model to increase organization effectiveness and create a more seamless customer experience across all channels. All charges incurred relate to termination benefits from continuing operations and are presented in Restructuring charges on our Condensed Consolidated Statements of Earnings. The following table summarizes our restructuring accrual activity during the first nine months of fiscal 2020 ($ in millions):
|  |  |  |  |  |  |  |  |  | Termination Benefits
Balance at February 2, 2019 |  |  |  |  |  |  |  |  |  | $ | - |
Charges |  |  |  |  |  |  |  |  |  |  | 48 |
Cash payments |  |  |  |  |  |  |  |  |  |  | (23) |
Adjustments(1) |  |  |  |  |  |  |  |  |  |  | (7) |
Balance at November 2, 2019 |  |  |  |  |  |  |  |  |  | $ | 18 |
(1)Adjustments are related to higher-than-expected employee retention, and therefore lower severance expenses. Best Buy Mobile On March 1, 2018, we announced our intent to close all of our 257 remaining Best Buy Mobile stand-alone stores in the U.S. This decision was a result of changing economics in the mobile industry since we began opening these stores in 2006, along with the integration of our mobile model into our core stores and online channel, which are more economically compelling today. All restructuring charges related to this plan are from continuing operations and are presented in Restructuring charges on our Condensed Consolidated Statements of Earnings. Restructuring charges incurred were as follows ($ in millions):
|  | Three Months Ended ‎November 3, 2018 |  | Nine Months Ended ‎November 3, 2018 |  | Cumulative Amount ‎as of November 2, 2019
Property and equipment impairments |  | $ | - |  |  | $ | - |  |  | $ | 1 |
Termination benefits |  |  | - |  |  |  | (2) |  |  |  | 6 |
Facility closure and other costs |  |  | - |  |  |  | 49 |  |  |  | 49 |
Total restructuring charges |  | $ | - |  |  | $ | 47 |  |  | $ | 56 |
The following table summarizes our restructuring accrual activity during the first nine months of fiscal 2019 ($ in millions):
|  | Termination Benefits |  | Facility Closures ‎and Other Costs |  | Total
Balances at February 3, 2018 |  | $ | 8 |  |  | $ | - |  |  | $ | 8 |
Charges |  |  | 1 |  |  |  | 49 |  |  |  | 50 |
Cash payments |  |  | (6) |  |  |  | (48) |  |  |  | (54) |
Adjustments(1) |  |  | (3) |  |  |  | - |  |  |  | (3) |
Balances at November 3, 2018 |  | $ | - |  |  | $ | 1 |  |  | $ | 1 |
(1)Adjustments represent changes in retention assumptions.

X
- References No definition available. + Details
Name: | us-gaap_RestructuringAndRelatedActivitiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI http://asc.fasb.org/topic&trid=2175745 + Details
Name: | us-gaap_RestructuringAndRelatedActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration