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Acquisitions | 12 Months Ended
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Jan. 28, 2023
Acquisitions [Abstract] |
Acquisitions | 2. Acquisitions Current Health Ltd. In fiscal 2022, we acquired all of the outstanding shares of Current Health Ltd. (“Current Health”), a care-at-home technology platform, on November 2, 2021, for net cash consideration of $389 million. The acquired assets included $351 million of goodwill that was assigned to our Best Buy Health reporting unit and was deductible for income tax purposes. The acquisition is aligned with our focus in virtual care to enable people in their homes to connect seamlessly with their health care providers and is included in our Domestic reportable segment and Services revenue category. The acquisition was accounted for using the acquisition method of accounting for business combinations and was not material to the results of operations. Two Peaks, LLC d/b/a Yardbird Furniture In fiscal 2022, we acquired all of the outstanding shares of Two Peaks, LLC d/b/a Yardbird Furniture (“Yardbird”), a direct-to-consumer outdoor furniture company, on November 4, 2021, for net cash consideration of $79 million. The acquired assets included $47 million of goodwill that was assigned to our Best Buy Domestic reporting unit and was deductible for income tax purposes. The acquisition expands our assortment in categories like outdoor living, as more and more consumers look to make over or upgrade their outdoor living spaces. The acquisition was accounted for using the acquisition method of accounting for business combinations and was not material to the results of our operations.

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