9be7547ab0f6315cee892537c9e1e2dbc4c0607af1529e454cfe607a5e3694a8

Adjustments for Non-Cash Items [USD, Millions]

Stock-Based Compensation [USD, Millions]

Changes in Working Capital [USD, Millions]

Capital Expenditures (CapEx) [USD, Millions]

Proceeds from / Repayments of Debt [USD, Millions]

Share Repurchases [USD, Millions]

Dividend Payments [USD, Millions]

Net Change in Cash [USD, Millions]

c00fd3b9d14990376f3ff67f9ead581645174166a37b371b29bafedfd16de186

1236a3a295fcee41117418829c2d15b95289a5b0892e7ed385cc43676d760860

a5d12921e82fba8fa269127319c35ad9107e7bc3e5d3c998d905b1e8fbce215b

Cash and cash equivalents (USD, millions)

Receivables, net (USD, millions)

Merchandise inventories (USD, millions)

Other current assets (USD, millions)

Total current assets (USD, millions)

Property and equipment, net (USD, millions)

Operating lease assets (USD, millions)

Goodwill (USD, millions)

Other assets (USD, millions)

Total assets (USD, millions)

Accounts payable (USD, millions)

Unredeemed gift card liabilities (USD, millions)

Deferred revenue (USD, millions)

Accrued compensation and related expenses (USD, millions)

Accrued liabilities (USD, millions)

Current portion of operating lease liabilities (USD, millions)

Current portion of long-term debt (USD, millions)

Total current liabilities (USD, millions)

Long-term operating lease liabilities (USD, millions)

Long-term debt (USD, millions)

Long-term liabilities (USD, millions)

Total equity (USD, millions)

Total liabilities and equity (USD, millions)

c44e52c1deaceb5da1ae7d83f700c6f0da999786e5e6da15eac6c9e0cf11edc2

The sharp decline was driven primarily by **substantial outflows in financing and investing activities**. In Q3 2025, the company saw significant cash used for **share repurchases and dividend payments** (financing activities used **$(892) million**) and **lower capital expenditures** compared to previous expectations, which resulted in investing outflows of **$(522) million**. Although there were positive operating inflows and only a minor negative impact from exchange rate changes (**$(2) million**), these were not enough to offset the heavy cash outflows, leading to an overall net decrease in cash and cash equivalents for the period.  **[0000764478-24-000041_bby-20241102x10q.htm:22]** **[0000764478-24-000038_bby-20241126xex99.htm:7]** **[0000764478-24-000041_bby-20241102x10q.htm:3]** 

Why did Cash and cash equivalents drop sharply in Q3 2025?

In Q3 2025, the increase in total assets was driven by several factors, including an increase in **cash and cash equivalents**, **receivables**, and a notably large rise in **merchandise inventories**. There were also moderate increases in **operating lease assets** and **other assets**, which helped offset declines in **property and equipment, net** and **other current assets**. These changes collectively contributed to raising the total assets to **$17,018 million** in Q3 2025.  **[0000764478-24-000041_bby-20241102x10q.htm:2]** 

What drove the increase in Total assets in Q3 2025?

The documents indicate that **the current portion of long-term debt in Q1 2025 was $15 million**, which is consistent with previous periods and does not represent a significant change. **There are no specific reasons provided for it being higher** in Q1 2025 compared to past periods, and the values have remained generally similar over time.  **[0000764478-24-000022_bby-20240504x10q.htm:2]** 

Why was the Current portion of long-term debt higher in Q1 2025?

6f7de3a55a7a8e1f26d9cc992173515cec7366df377f34a165ed1b62db5f06ea

Based on the documents, BBY's operating cash flow increased from **$601 million in Q3 2023**  **[0000764478-22-000044_bby-20221029x10q.htm:3]**  to **$1,932 million in Q4 2023**.  **[0000764478-23-000006_bby-20230128x10k.htm:65]**  While this jump is clearly noted in the figures, the explanations available in the documents focus on factors impacting the decline in total cash provided by operating activities on a fiscal year basis—from **$3,252 million in FY 2022** to **$1,824 million in FY 2023**—highlighting issues such as **lower net earnings**, **higher incentive compensation payments**, and **changes in operating assets and liabilities**.  **[0000764478-23-000003_bby-20230302xex99.htm:8]** **[0000764478-23-000006_bby-20230128x10k.htm:49]**  None of these documents, however, provide a definitive explanation specifically for the significant increase in operating cash flow in Q4 2023.

Why did Operating Cash Flow jump so high in Q4 2023?

The operating cash flow turned negative in Q1 2024 primarily due to the **timing and volume of inventory purchases and payments** and **lower incentive compensation payments**, which reduced cash outflows. In addition, **lower accounts payable outflows** and **lower earnings** further contributed to a smaller cash inflow from operations, resulting in a negative cash flow figure in Q1 2024.  **[0000764478-23-000025_bby-20230429x10q.htm:20]** **[0000764478-23-000019_bby-20230525xex99.htm:8]** 

What caused Operating Cash Flow to turn negative in Q1 2024?

The documents indicate that the Total cash provided by (used in) operating activities was **$512.00 million in Q2 2024** and **$109.00 million in Q3 2024**.  **[0000764478-23-000041_bby-20230729x10q.htm:3]** **[0000764478-23-000053_bby-20231028x10q.htm:3]**  However, the explanations available discuss factors influencing the change in Q3 2024 operating cash flows relative to **Q3 2023**, not in comparison to Q2 2024. Therefore, the documents do not provide a definitive reason for why the operating cash flow is so low in Q3 2024 compared to the prior quarter.  **[0000764478-23-000041_bby-20230729x10q.htm:3]** **[0000764478-23-000053_bby-20231028x10q.htm:3]** 

Why is Operating Cash Flow so low in Q3 2024 compared to the prior quarter?

The spike in restructuring charges in **Q4 2023** was driven by an **enterprise-wide restructuring initiative** that began in **Q2 FY23**. This initiative was designed to align spending with the company's critical strategies and operations by optimizing its cost structure, and a significant component of the change was the cost associated with **employee termination benefits**.  **[0000764478-23-000003_bby-20230302xex99.htm:2]** **[0000764478-23-000006_bby-20230128x10k.htm:79]** 

What drove the spike in Restructuring Charges in Q4 2023?

238a84a21d6854023433094273ab42acb10198db58dc94b65547a74ef68991fe

Domestic

- Computing and Mobile Phones

- Consumer Electronics

- Appliances

- Entertainment

- Services

- Other

International

Total Revenue

dc729d35b1483f555976cbadb5c28dae1461d779547d549b99bb1be2f4ef2ef5

- U.S.

- Canada

- China

ac8cc8e5fdfd1af65018d0268a9922d5d148a97de52712ef300ee25ff965811d

Net earnings [USD, millions]

Depreciation and amortization [USD, millions]

Restructuring charges [USD, millions]

Stock-based compensation [USD, millions]

Other, net (Adjustments) [USD, millions]

Receivables (Changes in operating assets and liabilities) [USD, millions]

Merchandise inventories (Changes in operating assets and liabilities) [USD, millions]

Other assets (Changes in operating assets and liabilities) [USD, millions]

Accounts payable (Changes in operating assets and liabilities) [USD, millions]

Income taxes (Changes in operating assets and liabilities) [USD, millions]

Other liabilities (Changes in operating assets and liabilities) [USD, millions]

Total cash provided by (used in) operating activities [USD, millions]

Additions to property and equipment [USD, millions]

Other, net (Investing) [USD, millions]

Total cash used in investing activities [USD, millions]

Repurchase of common stock [USD, millions]

Dividends paid [USD, millions]

Other, net (Financing) [USD, millions]

Total cash used in financing activities [USD, millions]

Effect of exchange rate changes on cash and cash equivalents [USD, millions]

Decrease in cash, cash equivalents and restricted cash [USD, millions]

Cash, cash equivalents and restricted cash at beginning of period [USD, millions]

Cash, cash equivalents and restricted cash at end of period [USD, millions]

15a9819dbab9fcf6567575e40affcdd81d77f775da43946a78dddcd878e12b4a

Revenue (USD, millions)

Cost of Sales (USD, millions)

Gross Profit (USD, millions)

Selling, General and Administrative Expenses (USD, millions)

Restructuring Charges (USD, millions)

Operating Income (USD, millions)

Investment Income and Other (USD, millions)

Interest Expense (USD, millions)

Earnings Before Income Tax Expense and Equity in Income (Loss) of Affiliates (USD, millions)

Income Tax Expense (USD, millions)

Equity in Income (Loss) of Affiliates (USD, millions)

Net Earnings (USD, millions)

ebb74bb68a886ba96d3747c4c7aa622ea4a768b145ca8258ee3d3334d7e67015

Best Buy Co Inc (BBY)

Financials