Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Best Buy Co. Inc., consolidated income statement

US$ in millions

12 months ended:	Jan 29, 2022	Jan 30, 2021	Feb 1, 2020	Feb 2, 2019	Feb 3, 2018	Jan 28, 2017
Revenue	51,761)	47,262)	43,638)	42,879)	42,151)	39,403)
Cost of sales	(40,121)	(36,689)	(33,590)	(32,918)	(32,275)	(29,963)
Gross profit	11,640)	10,573)	10,048)	9,961)	9,876)	9,440)
Selling, general and administrative expenses	(8,635)	(7,928)	(7,998)	(8,015)	(8,023)	(7,547)
Restructuring charges	34)	(254)	(41)	(46)	(10)	(39)
Operating income	3,039)	2,391)	2,009)	1,900)	1,843)	1,854)
Gain on sale of investments	—)	1)	1)	12)	1)	3)
Investment income and other	10)	37)	47)	49)	48)	31)
Interest expense	(25)	(52)	(64)	(73)	(75)	(72)
Other income (expense)	(15)	(14)	(16)	(12)	(26)	(38)
Earnings before income tax expense and equity in income of affiliates	3,024)	2,377)	1,993)	1,888)	1,817)	1,816)
Income tax expense	(574)	(579)	(452)	(424)	(818)	(609)
Equity in income of affiliates	4)	—)	—)	—)	—)	—)
Net earnings from continuing operations	2,454)	1,798)	1,541)	1,464)	999)	1,207)
Gain from discontinued operations, net of tax	—)	—)	—)	—)	1)	21)
Net earnings	2,454)	1,798)	1,541)	1,464)	1,000)	1,228)

Based on: 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28).

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Income statement item	Description	The company
Revenue	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Best Buy Co. Inc. revenue increased from 2020 to 2021 and from 2021 to 2022.
Operating income	The net result for the period of deducting operating expenses from operating revenues.	Best Buy Co. Inc. operating income increased from 2020 to 2021 and from 2021 to 2022.
Earnings before income tax expense and equity in income of affiliates	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Best Buy Co. Inc. earnings before income tax expense and equity in income of affiliates increased from 2020 to 2021 and from 2021 to 2022.
Net earnings	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Best Buy Co. Inc. net earnings increased from 2020 to 2021 and from 2021 to 2022.

Best Buy Co. Inc. (NYSE:BBY)

Income Statement