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v3.25.1

Segment and Geographic Information | 12 Months Ended
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Feb. 01, 2025
Segment and Geographic Information [Abstract] |
Segment and Geographic Information | 13. Segment and Geographic Information Segment and category revenue information was as follows ($ in millions):
| 2025 |  | 2024 |  | 2023
Domestic: |  |  |  |  |  |  |  |  |  |  |
Computing and Mobile Phones | $ | 17,103 |  |  | $ | 16,930 |  |  | $ | 18,191 |
Consumer Electronics |  | 11,148 |  |  |  | 12,014 |  |  |  | 13,040 |
Appliances |  | 4,589 |  |  |  | 5,469 |  |  |  | 6,381 |
Entertainment |  | 2,641 |  |  |  | 3,063 |  |  |  | 2,786 |
Services |  | 2,456 |  |  |  | 2,357 |  |  |  | 2,149 |
Other |  | 301 |  |  |  | 264 |  |  |  | 247 |
Total Domestic revenue | $ | 38,238 |  |  | $ | 40,097 |  |  | $ | 42,794 |
International: |  |  |  |  |  |  |  |  |  |  |
Computing and Mobile Phones | $ | 1,578 |  |  | $ | 1,552 |  |  | $ | 1,575 |
Consumer Electronics |  | 917 |  |  |  | 955 |  |  |  | 1,054 |
Appliances |  | 321 |  |  |  | 335 |  |  |  | 355 |
Entertainment |  | 267 |  |  |  | 300 |  |  |  | 267 |
Services |  | 175 |  |  |  | 173 |  |  |  | 183 |
Other |  | 32 |  |  |  | 40 |  |  |  | 70 |
Total International revenue |  | 3,290 |  |  |  | 3,355 |  |  |  | 3,504 |
Total revenue | $ | 41,528 |  |  | $ | 43,452 |  |  | $ | 46,298 |
Our CODM regularly reviews a range of financial and non-financial information to evaluate the performance of, and determine resource allocation for, the consolidated enterprise, the Domestic segment and the International segment. Adjusted operating income is the primary financial performance measure used by our CODM, which includes revenue and significant expenses – cost of sales and adjusted SG&A. Our CODM reviews adjusted operating income and its components via the annual budget and the ongoing monitoring of variances to budget, forecasts and prior periods. 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):
| 2025
| Domestic (1) |  | International |  | Total
Revenue | $ | 38,238 |  |  | $ | 3,290 |  |  | $ | 41,528 |
Cost of sales |  | 29,591 |  |  |  | 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 impairment |  |  |  |  |  |  |  |  |  | 475 |
Intangible asset amortization |  |  |  |  |  |  |  |  |  | 21 |
Operating income |  |  |  |  |  |  |  |  |  | 1,262 |
Other income (expense): |  |  |  |  |  |  |  |  |  |  |
Investment income and other |  |  |  |  |  |  |  |  |  | 84 |
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) |  | International |  | Total
Revenue | $ | 40,097 |  |  | $ | 3,355 |  |  | $ | 43,452 |
Cost of sales |  | 31,247 |  |  |  | 2,602 |  |  |  | 33,849 |
Adjusted SG&A (2) |  | 7,175 |  |  |  | 640 |  |  |  | 7,815 |
Adjusted operating income | $ | 1,675 |  |  | $ | 113 |  |  | $ | 1,788 |
Restructuring charges |  |  |  |  |  |  |  |  |  | 153 |
Intangible asset amortization |  |  |  |  |  |  |  |  |  | 61 |
Operating income |  |  |  |  |  |  |  |  |  | 1,574 |
Other income (expense): |  |  |  |  |  |  |  |  |  |  |
Gain on sale of subsidiary, net |  |  |  |  |  |  |  |  |  | 21 |
Investment income and other |  |  |  |  |  |  |  |  |  | 78 |
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.
| 2023
| Domestic (1) |  | International |  | Total
Revenue | $ | 42,794 |  |  | $ | 3,504 |  |  | $ | 46,298 |
Cost of sales |  | 33,688 |  |  |  | 2,698 |  |  |  | 36,386 |
Adjusted SG&A (2) |  | 7,246 |  |  |  | 638 |  |  |  | 7,884 |
Adjusted operating income | $ | 1,860 |  |  | $ | 168 |  |  | $ | 2,028 |
Restructuring charges |  |  |  |  |  |  |  |  |  | 147 |
Intangible asset amortization |  |  |  |  |  |  |  |  |  | 86 |
Operating income |  |  |  |  |  |  |  |  |  | 1,795 |
Other income (expense): |  |  |  |  |  |  |  |  |  |  |
Investment income and other |  |  |  |  |  |  |  |  |  | 28 |
Interest expense |  |  |  |  |  |  |  |  |  | (35) |
Earnings before income tax expense and equity in income of affiliates |  |  |  |  |  |  |  |  | $ | 1,788 |
(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. Asset information by segment was as follows ($ in millions):
| 2025 |  | 2024 |  | 2023
Assets |  |  |  |  |  |  |  |  |  |  |
Domestic | $ | 13,567 |  |  | $ | 13,660 |  |  | $ | 14,549 |
International |  | 1,215 |  |  |  | 1,307 |  |  |  | 1,254 |
Total assets | $ | 14,782 |  |  | $ | 14,967 |  |  | $ | 15,803 |
Capital expenditures |  |  |  |  |  |  |  |  |  |  |
Domestic | $ | 640 |  |  | $ | 760 |  |  | $ | 891 |
International |  | 66 |  |  |  | 35 |  |  |  | 39 |
Total capital expenditures | $ | 706 |  |  | $ | 795 |  |  | $ | 930 |
Depreciation and amortization |  |  |  |  |  |  |  |  |  |  |
Domestic | $ | 825 |  |  | $ | 880 |  |  | $ | 873 |
International |  | 41 |  |  |  | 43 |  |  |  | 45 |
Total depreciation and amortization | $ | 866 |  |  | $ | 923 |  |  | $ | 918 |
Geographic information was as follows ($ in millions):
| 2025 |  | 2024 |  | 2023
Revenue from external customers |  |  |  |  |  |  |  |  |  |  |
U.S. | $ | 38,238 |  |  | $ | 40,097 |  |  | $ | 42,794 |
Canada |  | 3,290 |  |  |  | 3,355 |  |  |  | 3,504 |
Total revenue from external customers | $ | 41,528 |  |  | $ | 43,452 |  |  | $ | 46,298 |
Property and equipment, net |  |  |  |  |  |  |  |  |  |  |
U.S. | $ | 2,002 |  |  | $ | 2,157 |  |  | $ | 2,243 |
Canada |  | 120 |  |  |  | 102 |  |  |  | 107 |
Other |  | - |  |  |  | 1 |  |  |  | 2 |
Total property and equipment, net | $ | 2,122 |  |  | $ | 2,260 |  |  | $ | 2,352 |

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