Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
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.
Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.
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Best Buy Co. Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2022-10-29), 10-Q (reporting date: 2022-07-30), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-29), 10-Q (reporting date: 2021-10-30), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-05-01), 10-K (reporting date: 2021-01-30), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-08-01), 10-Q (reporting date: 2020-05-02), 10-K (reporting date: 2020-02-01), 10-Q (reporting date: 2019-11-02), 10-Q (reporting date: 2019-08-03), 10-Q (reporting date: 2019-05-04), 10-K (reporting date: 2019-02-02), 10-Q (reporting date: 2018-11-03), 10-Q (reporting date: 2018-08-04), 10-Q (reporting date: 2018-05-05), 10-K (reporting date: 2018-02-03), 10-Q (reporting date: 2017-10-28), 10-Q (reporting date: 2017-07-29), 10-Q (reporting date: 2017-04-29), 10-K (reporting date: 2017-01-28), 10-Q (reporting date: 2016-10-29), 10-Q (reporting date: 2016-07-30), 10-Q (reporting date: 2016-04-30).
The financial data indicates several noteworthy trends in the liability and equity accounts over the reported periods.
- Current Liabilities and Components
- Accounts payable shows pronounced volatility, with peaks notably in the quarters ending October 2018, October 2020, and October 2021, reflecting substantial fluctuations in short-term obligations. Unredeemed gift card liabilities remain relatively stable, with minor seasonal variations observed throughout the periods. Deferred revenue exhibits a consistent upward trend, reaching its highest values near 2022, indicative of increasing advance payments or unearned revenue from customers. Accrued compensation and related expenses demonstrate significant fluctuations, including an upward spike in early 2021, which could reflect changes in payroll accruals or bonuses. Accrued liabilities remain broadly stable without large swings, suggesting steady operational accruals.
- Debt and Lease-Related Liabilities
- Short-term debt is mostly not reported until its appearance in 2020, with a notable balance of $1.25 billion early in the year, declining sharply thereafter. The current portion of operating lease liabilities shows a gradual increase over time, peaking in the quarters around early 2021, which aligns with increased leasing obligations in the near term. Current portion of long-term debt remains quite variable, with a significant surge around mid-2020, reaching above $670 million, which may indicate debt restructuring or maturity scheduling. Long-term operating lease liabilities, excluding current portions, show a gradual decrease over the most recent periods, suggesting either lease terminations or modifications. Long-term debt, excluding current portion, generally declines over the years but with intermittent variability, indicating ongoing debt repayment or refinancing activities.
- Overall Liabilities
- Non-current liabilities broadly trend with some volatility, including a spike in 2019, possibly linked to reclassification of some liabilities or major financing events. Total liabilities demonstrate a cyclical pattern, with marked peaks particularly in October and January quarters, likely reflecting seasonal operational demands and financing requirements, with a pronounced overall increase from 2016 through early 2021, followed by some stabilization and fluctuations thereafter.
- Equity and Capital Structure
- Common stock value gradually declines, reflecting possible share repurchases or retirements. Additional paid-in capital is sparse, reported only in later periods with some fluctuations, indicating occasional capital adjustments. Retained earnings trend downward from 2016 to late 2019, then progressively increase, peaking in early 2021, which could signal profit accumulation within that timeframe. Accumulated other comprehensive income remains relatively stable, with minor fluctuations, indicating consistent valuation adjustments. Overall equity mirrors retained earnings and shows a general decline from 2016 to 2019, followed by recovery and growth into 2021, then a notable drop in 2022, potentially reflecting market or operational impacts during that period.
- Total Liabilities and Equity
- This aggregate value aligns with the observed trends in liabilities and equity, with increases peaking in early 2021 and a subsequent reduction in 2022. The data suggest that the company experienced a growth phase culminating in early 2021, possibly fueled by increased liabilities and equity financing, followed by a normalization or contraction phase into 2022.