Name: Best Buy Co. Inc. (NYSE:BBY) | Balance Sheet: Assets
Creator: Stock Analysis on Net

Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Assets: Selected Items

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Current Assets: Selected Items

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Best Buy Co. Inc., consolidated balance sheet: assets

US$ in millions

	Jan 29, 2022	Jan 30, 2021	Feb 1, 2020	Feb 2, 2019	Feb 3, 2018	Jan 28, 2017
Cash and cash equivalents	2,936)	5,494)	2,229)	1,980)	1,101)	2,240)
Short-term investments	—)	—)	—)	—)	2,032)	1,681)
Receivables, net	1,042)	1,061)	1,149)	1,015)	1,049)	1,347)
Merchandise inventories	5,965)	5,612)	5,174)	5,409)	5,209)	4,864)
Other current assets	596)	373)	305)	466)	438)	384)
Current assets	10,539)	12,540)	8,857)	8,870)	9,829)	10,516)
Net property and equipment	2,250)	2,260)	2,328)	2,510)	2,421)	2,293)
Operating lease assets	2,654)	2,612)	2,709)	—)	—)	—)
Goodwill	1,384)	986)	984)	915)	425)	425)
Other assets	677)	669)	713)	606)	374)	622)
Non-current assets	6,965)	6,527)	6,734)	4,031)	3,220)	3,340)
Total assets	17,504)	19,067)	15,591)	12,901)	13,049)	13,856)

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).

Total assets exhibited a general upward trajectory over the six-year period, rising from 13,856 million in 2017 to 17,504 million in 2022. A significant peak occurred in January 2021, where total assets reached 19,067 million, primarily driven by a substantial increase in liquid assets.

Liquidity and Cash Position: Cash and cash equivalents showed high volatility, starting at 2,240 million in 2017, dipping to 1,101 million in 2018, and peaking at 5,494 million in 2021 before settling at 2,936 million in 2022. Short-term investments were reported in 2017 and 2018 but were not recorded in the subsequent four years, suggesting a shift in short-term capital allocation.
Inventory Management: A consistent growth pattern is observed in merchandise inventories, which increased from 4,864 million in 2017 to 5,965 million in 2022. This represents a steady expansion of the inventory base, indicating higher stock levels held over time.
Non-Current Asset Composition: Net property and equipment remained relatively stagnant, ending 2022 at 2,250 million, which is closely aligned with the 2,293 million reported in 2017. A structural change in the balance sheet occurred in 2020 with the introduction of operating lease assets valued at 2,709 million, which remained a primary component of non-current assets through 2022.
Intangible Asset Trends: Goodwill experienced a marked increase, growing from 425 million in 2017 to 1,384 million in 2022. This upward trend reflects significant additions to the asset base, particularly between 2018 and 2019 and again in 2022.

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