Document Information Statement - shares	3 Months Ended
Document Information Statement - shares	May 02, 2020	May 22, 2020
Document Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	May 02, 2020
Document Fiscal Year Focus	2020
Current Fiscal Year End Date	--02-01
Document Transition Report	false
Entity File Number	1-9595
Entity Registrant Name	BEST BUY CO., INC.
Entity Incorporation, State or Country Code	MN
Entity Address, Address Line One	7601 Penn Avenue South
Entity Address, City or Town	Richfield
Entity Address, State or Province	MN
Entity Tax Identification Number	41-0907483
Entity Address, Postal Zip Code	55423
City Area Code	612
Local Phone Number	291-1000
Title of 12(b) Security	Common Stock, $0.10 par value per share
Trading Symbol	BBY
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		258,309,045
Document Fiscal Period Focus	Q1
Entity Central Index Key	0000764478
Amendment Flag	false

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	May 02, 2020	Feb. 01, 2020	May 04, 2019
Current assets
Cash and cash equivalents	$ 3,919	$ 2,229	$ 1,561
Receivables, net	749	1,149	833
Merchandise inventories	3,993	5,174	5,195
Other current assets	335	305	425
Total current assets	8,996	8,857	8,014
Property and equipment, net	2,291	2,328	2,334
Operating lease assets	2,631	2,709	2,708
Goodwill	986	984	915
Other assets	701	713	579
Total assets	15,605	15,591	14,550
Current liabilities
Accounts payable	4,428	5,288	4,718
Unredeemed gift card liabilities	257	281	265
Deferred revenue	531	501	409
Accrued compensation and related expenses	213	410	275
Accrued liabilities	769	906	851
Short-term debt	1,250
Current portion of operating lease liabilities	683	660	639
Current portion of long-term debt	673	14	14
Total current liabilities	8,804	8,060	7,171
Long-term liabilities	694	657	659
Long-term operating lease liabilities	2,076	2,138	2,173
Long-term debt	621	1,257	1,193
Contingencies (Note 10)
Equity
Preferred stock, $1.00 par value: Authorized - 400,000 shares; Issued and outstanding - none
Common stock, $0.10 par value: Authorized - 1.0 billion shares; Issued and outstanding - 257 million, 256 million, and 267 million shares, respectively	26	26	27
Additional paid-in capital	15
Retained earnings	3,126	3,158	3,038
Accumulated other comprehensive income	243	295	289
Total equity	3,410	3,479	3,354
Total liabilities and equity	$ 15,605	$ 15,591	$ 14,550

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	May 02, 2020	Feb. 01, 2020	May 04, 2019
Condensed Consolidated Balance Sheets [Abstract]
Preferred stock, par value (in dollars per share)	$ 1.00	$ 1.00	$ 1.00
Preferred stock, authorized shares	400,000	400,000	400,000
Preferred stock, issued shares	0	0	0
Preferred stock, outstanding shares	0	0	0
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10	$ 0.10
Common stock, authorized shares	1,000,000,000.0	1,000,000,000.0	1,000,000,000.0
Common stock, issued shares	257,000,000	256,000,000	267,000,000
Common stock, outstanding shares	257,000,000	256,000,000	267,000,000

Condensed Consolidated Statements of Earnings - USD ($) shares in Millions, $ in Millions	3 Months Ended
	May 02, 2020	May 04, 2019
Condensed Consolidated Statements of Earnings [Abstract]
Revenue	$ 8,562	$ 9,142
Cost of sales	6,597	6,973
Gross profit	1,965	2,169
Selling, general and administrative expenses	1,735	1,835
Restructuring charges	1
Operating income	229	334
Other income (expense):
Investment income and other	6	14
Interest expense	(17)	(18)
Earnings before income tax expense	218	330
Income tax expense	59	65
Net earnings	$ 159	$ 265
Basic earnings per share	$ 0.61	$ 0.99
Diluted earnings per share	$ 0.61	$ 0.98
Weighted-average common shares outstanding
Basic	258.3	267.6
Diluted	260.4	271.5

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	May 02, 2020	May 04, 2019
Condensed Consolidated Statements of Comprehensive Income [Abstract]
Net earnings	$ 159	$ 265
Foreign currency translation adjustments, net of tax	(52)	(5)
Comprehensive income	$ 107	$ 260

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	May 02, 2020	May 04, 2019
Operating activities
Net earnings	$ 159	$ 265
Adjustments to reconcile net earnings to total cash provided by operating activities:
Depreciation and amortization	207	200
Stock-based compensation	15	36
Deferred income taxes	15	13
Other, net	6	1
Changes in operating assets and liabilities:
Receivables	383	182
Merchandise inventories	1,136	207
Other assets	(12)	(14)
Accounts payable	(816)	(519)
Income taxes	31	10
Other liabilities	(297)	(379)
Total cash provided by operating activities	827	2
Investing activities
Additions to property and equipment	(178)	(193)
Other, net	(1)	1
Total cash used in investing activities	(179)	(192)
Financing activities
Repurchase of common stock	(62)	(98)
Dividends paid	(141)	(134)
Borrowings of debt	1,250
Other, net	2	6
Total cash provided by (used in) financing activities	1,049	(226)
Effect of exchange rate changes on cash and cash equivalents	(18)	(1)
Increase (decrease) in cash, cash equivalents and restricted cash	1,679	(417)
Cash, cash equivalents and restricted cash at beginning of period	2,355	2,184
Cash, cash equivalents and restricted cash at end of period	$ 4,034	$ 1,767

Condensed Consolidated Statements of Changes in Shareholders' Equity - USD ($) shares in Millions, $ in Millions	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Total
Beginning balances at Feb. 02, 2019	$ 27		$ 2,985	$ 294	$ 3,306
Beginning balances (in shares) at Feb. 02, 2019	266
Increase (Decrease) in Shareholders' Equity
Net earnings			265		265
Other comprehensive loss, net of tax:
Foreign currency translation adjustments, net of tax				(5)	(5)
Stock-based compensation		$ 36			36
Issuance of common stock		11			11
Issuance of common stock (in shares)	2
Common stock dividends		2	(136)		(134)
Repurchase of common stock		(49)	(57)		(106)
Repurchase of common stock (in shares)	(1)
Ending balances at May. 04, 2019	$ 27		3,038	289	3,354
Ending balances (in shares) at May. 04, 2019	267
Increase (Decrease) in Shareholders' Equity
Cumulative effect of new accounting principle in period of adoption \| Adoption of ASU 2014-09 [Member]			(19)		(19)
Beginning balances at Feb. 01, 2020	$ 26		3,158	295	3,479
Beginning balances (in shares) at Feb. 01, 2020	256
Increase (Decrease) in Shareholders' Equity
Net earnings			159		159
Other comprehensive loss, net of tax:
Foreign currency translation adjustments, net of tax				(52)	(52)
Stock-based compensation		15			15
Issuance of common stock		6			6
Issuance of common stock (in shares)	2
Common stock dividends		2	(143)		(141)
Repurchase of common stock		(8)	(48)		(56)
Repurchase of common stock (in shares)	(1)
Ending balances at May. 02, 2020	$ 26	$ 15	$ 3,126	$ 243	$ 3,410
Ending balances (in shares) at May. 02, 2020	257

Condensed Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	May 02, 2020	May 04, 2019
Condensed Consolidated Statements of Changes in Shareholders' Equity [Abstract]
Dividends declared per common share	$ 0.55	$ 0.50

Basis of Presentation

3 Months Ended

May 02, 2020

Basis of Presentation [Abstract]

Basis of Presentation

1. Basis of Presentation

Unless the context otherwise requires, the use of the terms “Best Buy,” “we,” “us” and “our” in these Notes to Condensed Consolidated Financial Statements refers to Best Buy Co., Inc. and, as applicable, its consolidated subsidiaries.

In the opinion of management, the accompanying condensed consolidated financial statements contain all adjustments necessary for a fair presentation as prescribed by accounting principles generally accepted in the United States (“GAAP”). All adjustments were comprised of normal recurring adjustments, except as noted in these Notes to Condensed Consolidated Financial Statements.

Historically, we have generated a large proportion of our revenue and earnings in the fiscal fourth quarter, which includes the majority of the holiday shopping season in the U.S., Canada and Mexico. Due to the seasonal nature of our business, interim results are not necessarily indicative of results for the entire fiscal year. The interim financial statements and the related notes included in this Quarterly Report on Form 10-Q should be read in conjunction with the consolidated financial statements and related notes included in our Annual Report on Form 10-K for the fiscal year ended February 1, 2020. The first three months of fiscal 2021 and fiscal 2020 included 13 weeks.

In order to align our fiscal reporting periods and comply with statutory filing requirements, we consolidate the financial results of our Mexico operations on a one-month lag. Our policy is to accelerate recording the effect of events occurring in the lag period that significantly affect our condensed consolidated financial statements. No such events were identified for the reported periods.

In preparing the accompanying condensed consolidated financial statements, we evaluated the period from May 2, 2020, through the date the financial statements were issued for material subsequent events requiring recognition or disclosure. No such events were identified for the reported periods.

COVID-19

In March 2020, the World Health Organization declared the outbreak of novel coronavirus disease ("COVID-19") as a pandemic. Except where otherwise directed by state and local authorities, on March 22, 2020, we made the decision for the health and safety of our customers and employees to move our stores to a contactless, curbside-only operating model. We also suspended in-home delivery, repair and consultation services on March 22, 2020, and resumed these offerings on April 27, 2020, after implementing new safety guidelines.

In light of the uncertainty surrounding the impact of COVID-19 and to maximize liquidity, we executed a short-term draw on the full amount of our $1.25 billion five year senior unsecured revolving credit facility on March 19, 2020. See Note 4, Debt, for additional information. We also suspended all share repurchases.

Since the pandemic had a significant impact on our store operations, we concluded this was a triggering event to review for potential impairments of our store assets. As a result of this analysis, we recorded an immaterial asset impairment charge for a small number of stores within Selling, general and administrative (“SG&A”) expenses for the three months ended May 2, 2020.

We have goodwill in two reporting units – Best Buy Domestic and Best Buy Health – with carrying values as of May 2, 2020, of $444 million and $542 million, respectively. We test goodwill for impairment annually in the fiscal fourth quarter or whenever events or circumstances indicate the carrying value may not be recoverable. Our most recent goodwill impairment analysis, completed during the fourth quarter of fiscal 2020, indicated an excess of fair value over carrying value for both reporting units. As a result of the impact of COVID-19 on our business, we completed a review for potential impairments of our goodwill in the first quarter of fiscal 2021. As a result of this analysis, we concluded that no impairment had occurred.

On March 27, 2020, in response to the COVID-19 pandemic, the U.S. Congress enacted the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”), which among other things, contains provisions for deferral of the employer portion of social security taxes incurred through the end of calendar 2020 and an employee retention credit, a refundable payroll credit for 50% of wages and health benefits paid to employees not providing services due to the COVID-19 pandemic. As a result of the CARES Act, we intend to defer qualified payroll taxes and claim the employee retention credit, which will be treated as a government subsidy to offset related operating expenses. Based on our preliminary analysis of the CARES Act, we reduced our SG&A expenses for the three months ended May 2, 2020, by $69 million for employee retention credits. We will continue to assess our treatment of the CARES Act to the extent additional guidance and regulations are issued.

The COVID-19 pandemic remains a rapidly evolving situation. The extent of the impact of COVID-19 on our business and financial results will depend on future developments, including the duration and spread of the outbreak within the markets in which we operate and the related impact on consumer confidence and spending, all of which are highly uncertain.

Adopted Accounting Pronouncements

In the first quarter of fiscal 2021, we prospectively adopted the following Accounting Standards Updates ("ASUs") issued by the Financial Accounting Standards Board, all of which had an immaterial impact on our results of operations, cash flows and financial position.

ASU 2016-13, Measurement of Credit Losses on Financial Instruments

ASU 2017-04, Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment

ASU 2018-13, Fair Value Measurement - Disclosure Framework (Topic 820)

ASU 2018-15, Intangibles-Goodwill and Other - Internal Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract

Total Cash, Cash Equivalents and Restricted Cash

The reconciliation of cash, cash equivalents and restricted cash reported within the Condensed Consolidated Balance Sheets to the totals shown within the Condensed Consolidated Statements of Cash Flows was as follows ($ in millions):



	May 2, 2020		February 1, 2020		May 4, 2019
Cash and cash equivalents	$	3,919	$	2,229	$	1,561
Restricted cash included in Other current assets		115		126		206
Total cash, cash equivalents and restricted cash	$	4,034	$	2,355	$	1,767

Amounts included in restricted cash are pledged as collateral or restricted to use for workers’ compensation and general liability insurance claims.

Fair Value Measurements

3 Months Ended

May 02, 2020

Fair Value Measurements [Abstract]

Fair Value Measurements

2. Fair Value Measurements

Fair value measurements are reported in one of three levels based on the lowest level of significant input used: Level 1 (unadjusted quoted prices in active markets); Level 2 (observable market inputs, other than quoted prices included in Level 1); and Level 3 (unobservable inputs that cannot be corroborated by observable market data).

Recurring Fair Value Measurements

Financial assets and liabilities accounted for at fair value were as follows ($ in millions):



					Fair Value at
	Balance Sheet Location⁽¹⁾		Fair Value Hierarchy		May 2, 2020		February 1, 2020		May 4, 2019
Assets
Money market funds⁽²⁾		Cash and cash equivalents		Level 1	$	1,153	$	524	$	18
Commercial paper⁽²⁾		Cash and cash equivalents		Level 2		-		75		-
Time deposits⁽³⁾		Cash and cash equivalents		Level 2		465		185		60
Money market funds⁽²⁾		Other current assets		Level 1		6		16		93
Time deposits⁽³⁾		Other current assets		Level 2		101		101		102
Foreign currency derivative instruments⁽⁴⁾		Other current assets		Level 2		6		1		-
Interest rate swap derivative instruments⁽⁴⁾		Other current assets		Level 2		11		-		-
Marketable securities that fund deferred compensation⁽⁵⁾		Other assets		Level 1		45		48		46
Interest rate swap derivative instruments⁽⁴⁾		Other assets		Level 2		107		89		28

Liabilities
Interest rate swap derivative instruments⁽⁴⁾		Long-term liabilities		Level 2		-		-		6

(1)Balance sheet location is determined by the length to maturity from the current period-end date.

(2)Valued at quoted market prices.

(3)Valued at face value plus accrued interest, which approximates fair value.

(4)Valued using readily observable market inputs. These instruments are custom, over-the-counter contracts with various bank counterparties that are not traded on an active market.

(5)Valued using select mutual fund performance that trade with sufficient frequency and volume to obtain pricing information on an ongoing basis.

Fair Value of Financial Instruments

The fair values of cash, receivables, accounts payable, short-term debt and other payables approximated their carrying values because of the short-term nature of these instruments. With the exception of short-term debt, if these instruments were measured at fair value in the financial statements, they would be classified as Level 1 in the fair value hierarchy; short-term debt would be classified as Level 2. Fair values for other investments held at cost are not readily available, but we estimate that the carrying values for these investments approximate their fair values.

Long-term debt is presented at carrying value on our Condensed Consolidated Balance Sheets. If our long-term debt were recorded at fair value, it would be classified as Level 2 in the fair value hierarchy. Long-term debt balances were as follows ($ in millions):



	May 2, 2020				February 1, 2020				May 4, 2019
	Fair Value		Carrying Value		Fair Value		Carrying Value		Fair Value		Carrying Value
Long-term debt⁽¹⁾	$	1,315	$	1,268	$	1,322	$	1,239	$	1,213	$	1,173

(1)Excludes debt discounts, issuance costs and finance lease obligations.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Goodwill and Intangible Assets

3 Months Ended

May 02, 2020

Goodwill and Intangible Assets [Abstract]

Goodwill and Intangible Assets

3. Goodwill and Intangible Assets

See Note 1, Basis of Presentation, for impairment considerations for the three months ended May 2, 2020, due to COVID-19. No impairment charges were recorded during the fiscal periods presented.

Goodwill

Balances related to goodwill were as follows ($ in millions):


	May 2, 2020				February 1, 2020				May 4, 2019
	Gross Carrying ‎Amount		Cumulative ‎Impairment		Gross Carrying ‎Amount		Cumulative ‎Impairment		Gross Carrying ‎Amount		Cumulative ‎Impairment
Domestic	$	1,053	$	(67)	$	1,051	$	(67)	$	982	$	(67)
International		608		(608)		608		(608)		608		(608)
Total	$	1,661	$	(675)	$	1,659	$	(675)	$	1,590	$	(675)

Indefinite-Lived Intangible Assets

During the three months ended May 2, 2020, we made the decision to phase out our Pacific Sales tradename in our U.S. Best Buy stores over the coming years. Consequently, we reclassified the tradename from an indefinite-lived intangible asset to a definite-lived intangible asset and have no indefinite-lived intangible assets remaining as of May 2, 2020. The carrying value of the tradename was $18 million as of February 1, 2020, and May 4, 2019, respectively, and was recorded within Other assets on our Condensed Consolidated Balance Sheets.

Definite-Lived Intangible Assets

We have definite-lived intangible assets which are recorded within Other assets on our Condensed Consolidated Balance Sheets as follows ($ in millions):


	May 2, 2020				February 1, 2020				May 4, 2019				Weighted-Average
	Gross Carrying ‎Amount		Accumulated ‎Amortization		Gross Carrying ‎Amount		Accumulated ‎Amortization		Gross Carrying ‎Amount		Accumulated ‎Amortization		Useful Life Remaining as of May 2, 2020 (in years)
Customer relationships	$	339	$	83	$	339	$	70	$	258	$	29		6.9
Tradenames		81		13		63		10		63		5		5.5
Developed technology		56		18		56		15		52		6		3.3
Total	$	476	$	114	$	458	$	95	$	373	$	40		6.3

Amortization expense was as follows ($ in millions):



		Three Months Ended
	Statement of Earnings Location	May 2, 2020		May 4, 2019
Amortization expense	SG&A	$	19	$	17

Amortization expense expected to be recognized in future periods is as follows ($ in millions):


	Amortization Expense
Remainder of fiscal 2021	$	61
Fiscal 2022		80
Fiscal 2023		79
Fiscal 2024		54
Fiscal 2025		16
Fiscal 2026		16
Thereafter		56

Debt

3 Months Ended

May 02, 2020

Debt [Abstract]

Debt

4. Debt

Short-Term Debt

We have a $1.25 billion five year senior unsecured revolving credit facility agreement (the “Facility”) with a syndicate of banks. In light of the uncertainty surrounding the impact of COVID-19 and to maximize liquidity, we executed a seven-day draw on the full amount of the Facility on March 19, 2020, and rolled this into a three-month draw on March 26, 2020. The Facility remained fully drawn as of May 2, 2020, at an interest rate of three-month LIBOR plus a margin rate of 1.015%. There were no borrowings outstanding as of February 1, 2020, or May 4, 2019.

Information regarding our short-term debt for the three months ended May 2, 2020, was as follows ($ in millions):



	Average Amount Outstanding		Maximum Amount Outstanding		Weighted Average Interest Rate
Short-term debt	$	618	$	1,250		2.3	%

Long-Term Debt

Long-term debt consisted of the following ($ in millions):



	May 2, 2020		February 1, 2020		May 4, 2019
Notes, 5.50%, due March 15, 2021	$	650	$	650	$	650
Notes, 4.45%, due October 1, 2028		500		500		500
Interest rate swap valuation adjustments		118		89		23
Subtotal		1,268		1,239		1,173
Debt discounts and issuance costs		(8)		(6)		(7)
Finance lease obligations		34		38		41
Total long-term debt		1,294		1,271		1,207
Less current portion		673		14		14
Total long-term debt, less current portion	$	621	$	1,257	$	1,193

See Note 2, Fair Value Measurements, for the fair value of long-term debt.

Revenue

3 Months Ended

May 02, 2020

Revenue [Abstract]

Revenue

5. Revenue

We generate all of our revenue from contracts with customers from the sale of products and services. Contract balances primarily consist of receivables and contract liabilities related to product merchandise not yet delivered to customers, unredeemed gift cards, services not yet completed, and options that provide a material right to customers, such as our customer loyalty programs. Contract balances were as follows ($ in millions):



	May 2, 2020		February 1, 2020		May 4, 2019
Receivables, net⁽¹⁾	$	396	$	567	$	484
Short-term contract liabilities included in:
Unredeemed gift cards		257		281		265
Deferred revenue		531		501		409
Accrued liabilities		45		139		139
Long-term contract liabilities included in:
Long-term liabilities		8		9		10

(1)Receivables are recorded net of allowances for doubtful accounts of $29 million, $14 million and $12 million as of May 2, 2020, February 1, 2020, and May 4, 2019, respectively.

During the first three months of fiscal 2021 and fiscal 2020, $492 million and $466 million of revenue was recognized, respectively, that was included in the contract liabilities at the beginning of the respective periods.

See Note 9, Segments, for information on our revenue by reportable segment and product category.

Derivative Instruments

3 Months Ended

May 02, 2020

Derivative Instruments [Abstract]

Derivative Instruments

6. Derivative Instruments

We manage our economic and transaction exposure to certain risks by using foreign exchange forward contracts to hedge against the effect of Canadian dollar exchange rate fluctuations on a portion of our net investment in our Canadian operations, and interest rate swaps to mitigate the effect of interest rate fluctuations on our $650 million principal amount of notes due March 15, 2021, and our $500 million principal amount of notes due October 1, 2028. In addition, we use foreign currency forward contracts not designated as hedging instruments to manage the impact of fluctuations in foreign currency exchange rates relative to recognized receivable and payable balances denominated in non-functional currencies.

Our derivative instruments designated as net investment hedges and interest rate swaps are recorded on our Condensed Consolidated Balance Sheets at fair value. See Note 2, Fair Value Measurements, for gross fair values of our outstanding derivative instruments and corresponding fair value classifications.

Notional amounts of our derivative instruments were as follows ($ in millions):



Contract Type	May 2, 2020		February 1, 2020		May 4, 2019
Derivatives designated as net investment hedges	$	126	$	129	$	15
Derivatives designated as interest rate swaps		1,150		1,150		1,150
No hedge designation (foreign exchange contracts)		21		31		44
Total	$	1,297	$	1,310	$	1,209

Effects of our derivatives on our Condensed Consolidated Statements of Earnings were as follows ($ in millions):



		Gain (Loss) Recognized
		Three Months Ended
Contract Type	Statement of Earnings Location	May 2, 2020		May 4, 2019
Interest rate swap contracts	Interest expense	$	29	$	(2)
Adjustments to carrying value of long-term debt	Interest expense		(29)		2
Total		$	-	$	-

Earnings per Share

3 Months Ended

May 02, 2020

Earnings per Share [Abstract]

Earnings per Share

7. Earnings per Share

We compute our basic earnings per share based on the weighted-average common shares outstanding and our diluted earnings per share based on the weighted-average common shares outstanding adjusted by the number of additional shares that would have been outstanding had potentially dilutive common shares been issued.

Reconciliations of the numerators and denominators of basic and diluted earnings per share were as follows ($ and shares in millions, except per share amounts):


	Three Months Ended
	May 2, 2020		May 4, 2019
Numerator
Net earnings	$	159	$	265
Denominator
Weighted-average common shares outstanding		258.3		267.6
Dilutive effect of stock compensation plan awards		2.1		3.9
Weighted-average common shares outstanding, assuming dilution		260.4		271.5

Potential shares which were anti-dilutive and excluded from weighted-average share computations		0.6		0.8

Basic earnings per share	$	0.61	$	0.99
Diluted earnings per share	$	0.61	$	0.98

Repurchase of Common Stock

3 Months Ended

May 02, 2020

Repurchase of Common Stock [Abstract]

Shareholders' Equity

8. Repurchase of Common Stock

On February 23, 2019, our Board of Directors ("Board") authorized a $3.0 billion share repurchase program. There is no expiration date governing the period over which we can repurchase shares under the February 2019 authorization.

Information regarding the shares we repurchased was as follows ($ and shares in millions, except per share amounts):



	Three Months Ended
	May 2, 2020		May 4, 2019
Total cost of shares repurchased	$	56	$	106
Average price per share	$	86.30	$	70.77
Number of shares repurchased		0.6		1.5

As of May 2, 2020, $1.9 billion of the $3.0 billion share repurchase authorization was available. On March 21, 2020, we announced the suspension of all share repurchases given the uncertainty surrounding the impact of COVID-19.

Segments

3 Months Ended

May 02, 2020

Segments [Abstract]

Segment and Geographic Information

9. Segments

Segment and product category revenue information was as follows ($ in millions):



	Three Months Ended
	May 2, 2020		May 4, 2019
Revenue by reportable segment
Domestic	$	7,915	$	8,481
International		647		661
Total revenue	$	8,562	$	9,142
Revenue by product category
Domestic
Computing and Mobile Phones	$	3,805	$	3,851
Consumer Electronics		2,219		2,662
Appliances		935		961
Entertainment		510		473
Services		421		497
Other		25		37
Total Domestic revenue	$	7,915	$	8,481
International
Computing and Mobile Phones	$	309	$	305
Consumer Electronics		177		203
Appliances		58		59
Entertainment		57		36
Services		32		43
Other		14		15
Total International revenue	$	647	$	661

Segment operating income (loss) was as follows ($ in millions):



	Three Months Ended
	May 2, 2020		May 4, 2019
Domestic	$	241	$	332
International		(12)		2
Total operating income		229		334
Other income (expense):
Investment income and other		6		14
Interest expense		(17)		(18)
Earnings before income tax expense	$	218	$	330

Assets by segment were as follows ($ in millions):



	May 2, 2020		February 1, 2020		May 4, 2019
Domestic	$	14,320	$	14,247	$	13,332
International		1,285		1,344		1,218
Total assets	$	15,605	$	15,591	$	14,550

Contingencies

3 Months Ended

May 02, 2020

Contingencies [Abstract]

Contingencies

10. Contingencies

We are involved in a number of legal proceedings. Where appropriate, we have made accruals with respect to these matters, which are reflected on our Condensed Consolidated Financial Statements. However, there are cases where liability is not probable or the amount cannot be reasonably estimated and, therefore, accruals have not been made. We provide disclosure of matters where we believe it is reasonably possible the impact may be material to our Condensed Consolidated Financial Statements.

Basis of Presentation (Policies)

3 Months Ended

May 02, 2020

Basis of Presentation [Abstract]

Basis of Presentation

Unless the context otherwise requires, the use of the terms “Best Buy,” “we,” “us” and “our” in these Notes to Condensed Consolidated Financial Statements refers to Best Buy Co., Inc. and, as applicable, its consolidated subsidiaries.

In the opinion of management, the accompanying condensed consolidated financial statements contain all adjustments necessary for a fair presentation as prescribed by accounting principles generally accepted in the United States (“GAAP”). All adjustments were comprised of normal recurring adjustments, except as noted in these Notes to Condensed Consolidated Financial Statements.

Historically, we have generated a large proportion of our revenue and earnings in the fiscal fourth quarter, which includes the majority of the holiday shopping season in the U.S., Canada and Mexico. Due to the seasonal nature of our business, interim results are not necessarily indicative of results for the entire fiscal year. The interim financial statements and the related notes included in this Quarterly Report on Form 10-Q should be read in conjunction with the consolidated financial statements and related notes included in our Annual Report on Form 10-K for the fiscal year ended February 1, 2020. The first three months of fiscal 2021 and fiscal 2020 included 13 weeks.

In order to align our fiscal reporting periods and comply with statutory filing requirements, we consolidate the financial results of our Mexico operations on a one-month lag. Our policy is to accelerate recording the effect of events occurring in the lag period that significantly affect our condensed consolidated financial statements. No such events were identified for the reported periods.

In preparing the accompanying condensed consolidated financial statements, we evaluated the period from May 2, 2020, through the date the financial statements were issued for material subsequent events requiring recognition or disclosure. No such events were identified for the reported periods.

COVID-19

In March 2020, the World Health Organization declared the outbreak of novel coronavirus disease ("COVID-19") as a pandemic. Except where otherwise directed by state and local authorities, on March 22, 2020, we made the decision for the health and safety of our customers and employees to move our stores to a contactless, curbside-only operating model. We also suspended in-home delivery, repair and consultation services on March 22, 2020, and resumed these offerings on April 27, 2020, after implementing new safety guidelines.

In light of the uncertainty surrounding the impact of COVID-19 and to maximize liquidity, we executed a short-term draw on the full amount of our $1.25 billion five year senior unsecured revolving credit facility on March 19, 2020. See Note 4, Debt, for additional information. We also suspended all share repurchases.

Since the pandemic had a significant impact on our store operations, we concluded this was a triggering event to review for potential impairments of our store assets. As a result of this analysis, we recorded an immaterial asset impairment charge for a small number of stores within Selling, general and administrative (“SG&A”) expenses for the three months ended May 2, 2020.

We have goodwill in two reporting units – Best Buy Domestic and Best Buy Health – with carrying values as of May 2, 2020, of $444 million and $542 million, respectively. We test goodwill for impairment annually in the fiscal fourth quarter or whenever events or circumstances indicate the carrying value may not be recoverable. Our most recent goodwill impairment analysis, completed during the fourth quarter of fiscal 2020, indicated an excess of fair value over carrying value for both reporting units. As a result of the impact of COVID-19 on our business, we completed a review for potential impairments of our goodwill in the first quarter of fiscal 2021. As a result of this analysis, we concluded that no impairment had occurred.

On March 27, 2020, in response to the COVID-19 pandemic, the U.S. Congress enacted the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”), which among other things, contains provisions for deferral of the employer portion of social security taxes incurred through the end of calendar 2020 and an employee retention credit, a refundable payroll credit for 50% of wages and health benefits paid to employees not providing services due to the COVID-19 pandemic. As a result of the CARES Act, we intend to defer qualified payroll taxes and claim the employee retention credit, which will be treated as a government subsidy to offset related operating expenses. Based on our preliminary analysis of the CARES Act, we reduced our SG&A expenses for the three months ended May 2, 2020, by $69 million for employee retention credits. We will continue to assess our treatment of the CARES Act to the extent additional guidance and regulations are issued.

The COVID-19 pandemic remains a rapidly evolving situation. The extent of the impact of COVID-19 on our business and financial results will depend on future developments, including the duration and spread of the outbreak within the markets in which we operate and the related impact on consumer confidence and spending, all of which are highly uncertain.

Adopted Accounting Pronouncements

In the first quarter of fiscal 2021, we prospectively adopted the following Accounting Standards Updates ("ASUs") issued by the Financial Accounting Standards Board, all of which had an immaterial impact on our results of operations, cash flows and financial position.

ASU 2016-13, Measurement of Credit Losses on Financial Instruments

ASU 2017-04, Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment

ASU 2018-13, Fair Value Measurement - Disclosure Framework (Topic 820)

ASU 2018-15, Intangibles-Goodwill and Other - Internal Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract

Total Cash, Cash Equivalents and Restricted Cash

The reconciliation of cash, cash equivalents and restricted cash reported within the Condensed Consolidated Balance Sheets to the totals shown within the Condensed Consolidated Statements of Cash Flows was as follows ($ in millions):



	May 2, 2020		February 1, 2020		May 4, 2019
Cash and cash equivalents	$	3,919	$	2,229	$	1,561
Restricted cash included in Other current assets		115		126		206
Total cash, cash equivalents and restricted cash	$	4,034	$	2,355	$	1,767

Amounts included in restricted cash are pledged as collateral or restricted to use for workers’ compensation and general liability insurance claims.

Basis of Presentation (Tables)

3 Months Ended

May 02, 2020

Basis of Presentation [Abstract]

Total Cash, Cash Equivalents and Restricted Cash



	May 2, 2020		February 1, 2020		May 4, 2019
Cash and cash equivalents	$	3,919	$	2,229	$	1,561
Restricted cash included in Other current assets		115		126		206
Total cash, cash equivalents and restricted cash	$	4,034	$	2,355	$	1,767

Fair Value Measurements (Tables)

3 Months Ended

May 02, 2020

Fair Value Measurements [Abstract]

Fair Value, Assets and Liabilities Measured on Recurring Basis



					Fair Value at
	Balance Sheet Location⁽¹⁾		Fair Value Hierarchy		May 2, 2020		February 1, 2020		May 4, 2019
Assets
Money market funds⁽²⁾		Cash and cash equivalents		Level 1	$	1,153	$	524	$	18
Commercial paper⁽²⁾		Cash and cash equivalents		Level 2		-		75		-
Time deposits⁽³⁾		Cash and cash equivalents		Level 2		465		185		60
Money market funds⁽²⁾		Other current assets		Level 1		6		16		93
Time deposits⁽³⁾		Other current assets		Level 2		101		101		102
Foreign currency derivative instruments⁽⁴⁾		Other current assets		Level 2		6		1		-
Interest rate swap derivative instruments⁽⁴⁾		Other current assets		Level 2		11		-		-
Marketable securities that fund deferred compensation⁽⁵⁾		Other assets		Level 1		45		48		46
Interest rate swap derivative instruments⁽⁴⁾		Other assets		Level 2		107		89		28

Liabilities
Interest rate swap derivative instruments⁽⁴⁾		Long-term liabilities		Level 2		-		-		6

(1)Balance sheet location is determined by the length to maturity from the current period-end date.

(2)Valued at quoted market prices.

(3)Valued at face value plus accrued interest, which approximates fair value.

(4)Valued using readily observable market inputs. These instruments are custom, over-the-counter contracts with various bank counterparties that are not traded on an active market.

(5)Valued using select mutual fund performance that trade with sufficient frequency and volume to obtain pricing information on an ongoing basis.

Fair Value of Financial Instruments



	May 2, 2020				February 1, 2020				May 4, 2019
	Fair Value		Carrying Value		Fair Value		Carrying Value		Fair Value		Carrying Value
Long-term debt⁽¹⁾	$	1,315	$	1,268	$	1,322	$	1,239	$	1,213	$	1,173

(1)Excludes debt discounts, issuance costs and finance lease obligations.

Goodwill and Intangible Assets (Tables)

3 Months Ended

May 02, 2020

Goodwill and Intangible Assets [Abstract]

Gross Carrying Amount of Goodwill and Cumulative Goodwill Impairment


	May 2, 2020				February 1, 2020				May 4, 2019
	Gross Carrying ‎Amount		Cumulative ‎Impairment		Gross Carrying ‎Amount		Cumulative ‎Impairment		Gross Carrying ‎Amount		Cumulative ‎Impairment
Domestic	$	1,053	$	(67)	$	1,051	$	(67)	$	982	$	(67)
International		608		(608)		608		(608)		608		(608)
Total	$	1,661	$	(675)	$	1,659	$	(675)	$	1,590	$	(675)

Definite-Lived Intangible Assets


	May 2, 2020				February 1, 2020				May 4, 2019				Weighted-Average
	Gross Carrying ‎Amount		Accumulated ‎Amortization		Gross Carrying ‎Amount		Accumulated ‎Amortization		Gross Carrying ‎Amount		Accumulated ‎Amortization		Useful Life Remaining as of May 2, 2020 (in years)
Customer relationships	$	339	$	83	$	339	$	70	$	258	$	29		6.9
Tradenames		81		13		63		10		63		5		5.5
Developed technology		56		18		56		15		52		6		3.3
Total	$	476	$	114	$	458	$	95	$	373	$	40		6.3

Amortization Expense



		Three Months Ended
	Statement of Earnings Location	May 2, 2020		May 4, 2019
Amortization expense	SG&A	$	19	$	17

Amortization Expense Expected to be Recognized


	Amortization Expense
Remainder of fiscal 2021	$	61
Fiscal 2022		80
Fiscal 2023		79
Fiscal 2024		54
Fiscal 2025		16
Fiscal 2026		16
Thereafter		56

Debt (Tables)

3 Months Ended

May 02, 2020

Debt [Abstract]

Schedule of Short-term Debt



	Average Amount Outstanding		Maximum Amount Outstanding		Weighted Average Interest Rate
Short-term debt	$	618	$	1,250		2.3	%

Schedule of Long-term Debt



	May 2, 2020		February 1, 2020		May 4, 2019
Notes, 5.50%, due March 15, 2021	$	650	$	650	$	650
Notes, 4.45%, due October 1, 2028		500		500		500
Interest rate swap valuation adjustments		118		89		23
Subtotal		1,268		1,239		1,173
Debt discounts and issuance costs		(8)		(6)		(7)
Finance lease obligations		34		38		41
Total long-term debt		1,294		1,271		1,207
Less current portion		673		14		14
Total long-term debt, less current portion	$	621	$	1,257	$	1,193

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

Revenue (Tables)

3 Months Ended

May 02, 2020

Revenue [Abstract]

Contract Balances and Changes in Contract Balances



	May 2, 2020		February 1, 2020		May 4, 2019
Receivables, net⁽¹⁾	$	396	$	567	$	484
Short-term contract liabilities included in:
Unredeemed gift cards		257		281		265
Deferred revenue		531		501		409
Accrued liabilities		45		139		139
Long-term contract liabilities included in:
Long-term liabilities		8		9		10

(1)Receivables are recorded net of allowances for doubtful accounts of $29 million, $14 million and $12 million as of May 2, 2020, February 1, 2020, and May 4, 2019, respectively.

Derivative Instruments (Tables)

3 Months Ended

May 02, 2020

Derivative Instruments [Abstract]

Notional Amount of Derivative Instruments



Contract Type	May 2, 2020		February 1, 2020		May 4, 2019
Derivatives designated as net investment hedges	$	126	$	129	$	15
Derivatives designated as interest rate swaps		1,150		1,150		1,150
No hedge designation (foreign exchange contracts)		21		31		44
Total	$	1,297	$	1,310	$	1,209

Effects of Interest Rate Derivatives and Adjustments to LTD on Earnings



		Gain (Loss) Recognized
		Three Months Ended
Contract Type	Statement of Earnings Location	May 2, 2020		May 4, 2019
Interest rate swap contracts	Interest expense	$	29	$	(2)
Adjustments to carrying value of long-term debt	Interest expense		(29)		2
Total		$	-	$	-

Earnings per Share (Tables)

3 Months Ended

May 02, 2020

Earnings per Share [Abstract]

Schedule of Calculation of Numerator and Denominator in Earnings Per Share


	Three Months Ended
	May 2, 2020		May 4, 2019
Numerator
Net earnings	$	159	$	265
Denominator
Weighted-average common shares outstanding		258.3		267.6
Dilutive effect of stock compensation plan awards		2.1		3.9
Weighted-average common shares outstanding, assuming dilution		260.4		271.5

Potential shares which were anti-dilutive and excluded from weighted-average share computations		0.6		0.8

Basic earnings per share	$	0.61	$	0.99
Diluted earnings per share	$	0.61	$	0.98

Repurchase of Common Stock (Tables)

3 Months Ended

May 02, 2020

Repurchase of Common Stock [Abstract]

Schedule of Share Repurchases



	Three Months Ended
	May 2, 2020		May 4, 2019
Total cost of shares repurchased	$	56	$	106
Average price per share	$	86.30	$	70.77
Number of shares repurchased		0.6		1.5

Segments (Tables)

3 Months Ended

May 02, 2020

Segments [Abstract]

Revenue by Reportable Segment and Product Category



	Three Months Ended
	May 2, 2020		May 4, 2019
Revenue by reportable segment
Domestic	$	7,915	$	8,481
International		647		661
Total revenue	$	8,562	$	9,142
Revenue by product category
Domestic
Computing and Mobile Phones	$	3,805	$	3,851
Consumer Electronics		2,219		2,662
Appliances		935		961
Entertainment		510		473
Services		421		497
Other		25		37
Total Domestic revenue	$	7,915	$	8,481
International
Computing and Mobile Phones	$	309	$	305
Consumer Electronics		177		203
Appliances		58		59
Entertainment		57		36
Services		32		43
Other		14		15
Total International revenue	$	647	$	661

Operating Income by Reportable Segment and Reconciliation to Earnings Before Income Tax Expense



	Three Months Ended
	May 2, 2020		May 4, 2019
Domestic	$	241	$	332
International		(12)		2
Total operating income		229		334
Other income (expense):
Investment income and other		6		14
Interest expense		(17)		(18)
Earnings before income tax expense	$	218	$	330

Assets by Reportable Segment



	May 2, 2020		February 1, 2020		May 4, 2019
Domestic	$	14,320	$	14,247	$	13,332
International		1,285		1,344		1,218
Total assets	$	15,605	$	15,591	$	14,550

Basis of Presentation (Narrative) (Details)	3 Months Ended
Basis of Presentation (Narrative) (Details)	May 02, 2020 USD ($) segment	Feb. 01, 2020 USD ($)	May 04, 2019 USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of Reportable Segments \| segment	2
Goodwill	$ 986,000,000	$ 984,000,000	$ 915,000,000
Employee retention credits	69,000,000
Goodwill and intangible assets impairment charges	0	$ 0	$ 0
Best Buy Domestic [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Goodwill	444,000,000
Best Buy Health [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Goodwill	542,000,000
Revolving Credit Facility [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Line of credit facility, maximum borrowing capacity	$ 1,250,000,000
Debt instrument, term	5 years

Basis of Presentation (Total Cash, Cash Equivalents and Restricted Cash) (Details) - USD ($) $ in Millions	May 02, 2020	Feb. 01, 2020	May 04, 2019	Feb. 02, 2019
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Cash and cash equivalents	$ 3,919	$ 2,229	$ 1,561
Restricted cash included in Other current assets	115	126	206
Total cash, cash equivalents and restricted cash	$ 4,034	$ 2,355	$ 1,767	$ 2,184

Fair Value Measurements (Fair Value, Assets and Liabilities Measured on Recurring Basis) (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Millions	May 02, 2020	Feb. 01, 2020	May 04, 2019
Level 1 [Member] \| Money market funds [Member]
Assets
Cash and cash equivalents	$ 1,153	$ 524	$ 18
Other current assets	6	16	93
Level 1 [Member] \| Marketable securities that fund deferred compensation [Member]
Assets
Other assets	45	48	46
Level 2 [Member] \| Time deposits [Member]
Assets
Cash and cash equivalents	465	185	60
Other current assets	101	101	102
Level 2 [Member] \| Commercial paper [Member]
Assets
Cash and cash equivalents		75
Level 2 [Member] \| Foreign currency derivative instruments [Member]
Assets
Other current assets	6	1
Level 2 [Member] \| Interest Rate Swap Derivative Instruments [Member]
Assets
Other current assets	11
Other assets	$ 107	$ 89	28
Liabilities
Long-term liabilities			$ 6

Fair Value Measurements (Fair Value of Financial Instruments) (Details) - USD ($) $ in Millions	May 02, 2020	Feb. 01, 2020	May 04, 2019
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Carrying value	$ 1,268	$ 1,239	$ 1,173
Long-term debt [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Carrying value	1,268	1,239	1,173
Level 2 [Member] \| Long-term debt [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	$ 1,315	$ 1,322	$ 1,213

Goodwill and Intangible Assets (Narrative) (Details) - USD ($)	3 Months Ended
	May 02, 2020	Feb. 01, 2020	May 04, 2019
Intangible Assets [Line Items]
Goodwill and intangible assets impairment charges	$ 0	$ 0	$ 0
Amortization expense	19,000,000		17,000,000
Tradename [Member]
Intangible Assets [Line Items]
Indefinite-lived intangible	$ 0
Definite-lived intangible assets		$ 18,000,000	$ 18,000,000

Goodwill and Intangible Assets (Gross Carrying Amount of Goodwill and Cumulative Goodwill Impairment) (Details) - USD ($) $ in Millions	May 02, 2020	Feb. 01, 2020	May 04, 2019
Goodwill [Line Items]
Gross Carrying Amount	$ 1,661	$ 1,659	$ 1,590
Cumulative Impairment	(675)	(675)	(675)
Domestic [Member]
Goodwill [Line Items]
Gross Carrying Amount	1,053	1,051	982
Cumulative Impairment	(67)	(67)	(67)
International [Member]
Goodwill [Line Items]
Gross Carrying Amount	608	608	608
Cumulative Impairment	$ (608)	$ (608)	$ (608)

Goodwill and Intangible Assets (Definite-Lived Intangible Assets) (Details) - USD ($) $ in Millions	3 Months Ended
	May 02, 2020	Feb. 01, 2020	May 04, 2019
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 476	$ 458	$ 373
Accumulated Amortization	$ 114	95	40
Weighted-Average Useful Life Remaining	6 years 3 months 18 days
Customer Relationships [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 339	339	258
Accumulated Amortization	$ 83	70	29
Weighted-Average Useful Life Remaining	6 years 10 months 24 days
Tradename [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 81	63	63
Accumulated Amortization	$ 13	10	5
Weighted-Average Useful Life Remaining	5 years 6 months
Developed Technology [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 56	56	52
Accumulated Amortization	$ 18	$ 15	$ 6
Weighted-Average Useful Life Remaining	3 years 3 months 18 days

Goodwill and Intangible Assets (Amortization Expense) (Details) - USD ($) $ in Millions	3 Months Ended
	May 02, 2020	May 04, 2019
Goodwill and Intangible Assets [Abstract]
Amortization expense	$ 19	$ 17

Goodwill and Intangible Assets (Amortization Expense Expected to be Recognized) (Details) $ in Millions	May 02, 2020 USD ($)
Goodwill and Intangible Assets [Abstract]
Remainder of fiscal 2021	$ 61
Fiscal 2022	80
Fiscal 2023	79
Fiscal 2024	54
Fiscal 2025	16
Fiscal 2026	16
Thereafter	$ 56

Debt (Narrative) (Short-Term Debt) (Details) - USD ($)	3 Months Ended
Debt (Narrative) (Short-Term Debt) (Details) - USD ($)	May 02, 2020	Feb. 01, 2020	May 04, 2019
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 1,250,000,000
Debt instrument, term	5 years
Outstanding borrowings		$ 0	$ 0
London Interbank Offered Rate (LIBOR) [Member]
Line of Credit Facility [Line Items]
Variable interest rate	1.015%

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

Debt (Schedule of Short-term Debt) (Details) $ in Millions	3 Months Ended
Debt (Schedule of Short-term Debt) (Details) $ in Millions	May 02, 2020 USD ($)
Debt [Abstract]
Average Outstanding Amount	$ 618
Maximum Amount Outstanding	$ 1,250
Weighted Average Interest Rate	2.30%

Debt (Schedule of Long-Term Debt) (Details) - USD ($) $ in Millions	May 02, 2020	Feb. 01, 2020	May 04, 2019
Debt Instrument [Line Items]
Total	$ 1,268	$ 1,239	$ 1,173
Debt discounts and issuance costs	(8)	(6)	(7)
Finance lease obligations	34	38	41
Total long-term debt	1,294	1,271	1,207
Less current portion	673	14	14
Total long-term debt, less current portion	621	1,257	1,193
Interest Rate Swap Derivative Instruments [Member]
Debt Instrument [Line Items]
Interest rate swap valuation adjustments	118	89	23
Notes due 2021 [Member]
Debt Instrument [Line Items]
Long-term debt	$ 650	650	650
Interest rate	5.50%
Notes due 2028 [Member]
Debt Instrument [Line Items]
Long-term debt	$ 500	$ 500	$ 500
Interest rate	4.45%

Revenue (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
Revenue (Narrative) (Details) - USD ($) $ in Millions	May 02, 2020	May 04, 2019
Revenue [Abstract]
Revenue recognized	$ 492	$ 466

Revenue (Contract Balances and Changes in Contract Balances) (Details) - USD ($) $ in Millions	May 02, 2020	Feb. 01, 2020	May 04, 2019
Revenue [Abstract]
Receivables, net	$ 396	$ 567	$ 484
Short-term contract liabilities included in:
Unredeemed gift cards	257	281	265
Deferred revenue	531	501	409
Accrued liabilities	45	139	139
Long-term contract liabilities included in:
Long-term liabilities	8	9	10
Receivables, allowance for doubtful accounts	$ 29	$ 14	$ 12

Derivative Instruments (Narrative) (Details)	May 02, 2020 USD ($)
Notes due 2021 [Member]
Derivative [Line Items]
Debt Instrument, Face Amount	$ 650,000,000
Notes due 2028 [Member]
Derivative [Line Items]
Debt Instrument, Face Amount	$ 500,000,000

Derivative Instruments (Notional Amount of Derivative Instruments) (Details) - Not Designated As Hedging Instrument [Member] - USD ($) $ in Millions	May 02, 2020	Feb. 01, 2020	May 04, 2019
Derivatives, Fair Value [Line Items]
Notional Amount	$ 1,297	$ 1,310	$ 1,209
Derivatives Designated As Net Investment Hedges [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	126	129	15
Interest Rate Swap Derivative Instruments [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	1,150	1,150	1,150
Foreign Exchange Forward Contracts [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	$ 21	$ 31	$ 44

Derivative Instruments (Effects of Interest Rate Derivatives and Adjustments to LTD on Earnings) (Details) - Designated As Hedging Instrument [Member] - Interest Expense [Member] - USD ($) $ in Millions	3 Months Ended
	May 02, 2020	May 04, 2019
Derivatives, Fair Value [Line Items]
Gain (Loss) Recognized
Interest Rate Swap Derivative Instruments [Member]
Derivatives, Fair Value [Line Items]
Gain (Loss) Recognized	29	(2)
Carrying Value Of Long Term Debt [Member]
Derivatives, Fair Value [Line Items]
Gain (Loss) Recognized	$ (29)	$ 2

Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	May 02, 2020	May 04, 2019
Earnings per Share [Abstract]
Net earnings	$ 159	$ 265
Weighted-average common shares outstanding (in shares)	258.3	267.6
Dilutive effect of stock compensation plan awards	2.1	3.9
Weighted-average common shares outstanding, assuming dilution	260.4	271.5
Potential shares which were anti-dilutive and excluded from weighted-average share computations	0.6	0.8
Basic earnings per share	$ 0.61	$ 0.99
Diluted earnings per share	$ 0.61	$ 0.98

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Repurchase of Common Stock (Narrative) (Details) - February 2019 Share Repurchase Program [Member] - USD ($) $ in Billions	May 02, 2020	Feb. 23, 2019
Stock Repurchases [Line Items]
Stock Repurchase Program, Authorized Amount	$ 3.0	$ 3.0
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 1.9

Repurchase of Common Stock (Schedule of share repurchases) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	May 02, 2020	May 04, 2019
Repurchase of Common Stock [Abstract]
Total cost of shares repurchased	$ 56	$ 106
Average price per share	$ 86.30	$ 70.77
Number of shares repurchased	0.6	1.5

Segments (Revenue by Reportable Segment and Product Category) (Details) - USD ($) $ in Millions	3 Months Ended
	May 02, 2020	May 04, 2019
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 8,562	$ 9,142
Domestic Segment [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	7,915	8,481
Domestic Segment [Member] \| Computing and Mobile Phones [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	3,805	3,851
Domestic Segment [Member] \| Consumer Electronics [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	2,219	2,662
Domestic Segment [Member] \| Appliances [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	935	961
Domestic Segment [Member] \| Entertainment [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	510	473
Domestic Segment [Member] \| Services [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	421	497
Domestic Segment [Member] \| Other [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	25	37
International Segment [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	647	661
International Segment [Member] \| Computing and Mobile Phones [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	309	305
International Segment [Member] \| Consumer Electronics [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	177	203
International Segment [Member] \| Appliances [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	58	59
International Segment [Member] \| Entertainment [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	57	36
International Segment [Member] \| Services [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	32	43
International Segment [Member] \| Other [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 14	$ 15

Segments (Operating Income by Reportable Segment and Reconciliation to Earnings Before Income Tax Expense) (Details) - USD ($) $ in Millions	3 Months Ended
	May 02, 2020	May 04, 2019
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating income	$ 229	$ 334
Investment income and other	6	14
Interest expense	(17)	(18)
Earnings before income tax expense	218	330
Domestic Segment [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating income	241	332
International Segment [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating income	$ (12)	$ 2

Segments (Assets by Reportable Segment) (Details) - USD ($) $ in Millions	May 02, 2020	Feb. 01, 2020	May 04, 2019
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 15,605	$ 15,591	$ 14,550
Domestic Segment [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	14,320	14,247	13,332
International Segment [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 1,285	$ 1,344	$ 1,218