Controls and Procedures
−Removed: We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in the reports we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated to our management, including our Chief Executive Officer (principal executive officer) and Chief Financial Officer (principal financial officer), to allow timely decisions regarding required disclosure.
+Added: We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in the reports we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the U.S.
+Added: Securities and Exchange Commission’s (“SEC”) rules and forms, and that such information is accumulated and communicated to our management, including our Chief Executive Officer (principal executive officer) and Chief Financial Officer (principal financial officer), to allow timely decisions regarding required disclosure.
We have established a Disclosure Committee, consisting of certain members of management, to assist in this evaluation.
−Removed: The Disclosure Committee meets on a regular quarterly basis and otherwise as needed.
−Removed: Our management, including our Chief Executive Officer and Chief Financial Officer, evaluated the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) promulgated under the Exchange Act), at October 30, 2021.
−Removed: Based on that evaluation, our Chief Executive Officer and Chief Financial Officer concluded that, at October 30, 2021, our disclosure controls and procedures were effective.
−Removed: There were no changes in internal control over financial reporting during the fiscal quarter ended October 30, 2021, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
+Added: The Disclosure Committee meets on a regular quarterly basis and more often if necessary.
+Added: Our management, including our Chief Executive Officer and Chief Financial Officer, evaluated the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) promulgated under the Exchange Act), at April 30, 2022.
+Added: Based on that evaluation, our Chief Executive Officer and Chief Financial Officer concluded that, at April 30, 2022, our disclosure controls and procedures were effective.
+Added: There were no changes in internal control over financial reporting during the fiscal quarter ended April 30, 2022, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
PART II — OTHER INFORMATION
3 unchanged sentences
(c) Stock Repurchases
−Removed: On February 16, 2021, our Board approved a new $5.0 billion share repurchase program .
+Added: On February 28, 2022, our Board approved a new $5.0 billion share repurchase program, which replaced the $5.0 billion share repurchase program authorized on February 16, 2021.
+Added: Share repurchases prior to February 28, 2022, were made under the February 2021 share repurchase program and thereafter under the February 2022 share repurchase program .
For additional information, see Note 9, Repurchase of Common Stock, of the Notes to the Condensed Consolidated Financial Statements included in this Quarterly Report on Form 10-Q.
5 unchanged sentences
Approximate Dollar Value of Shares that May Yet Be Purchased Under the Program
−Removed: August 1, 2021 through August 28, 2021
+Added: January 30, 2022 through February 26, 2022
1,490,000,000
−Removed: August 29, 2021 through October 2, 2021
+Added: February 27, 2022 through April 2, 2022
4,771,000,000
−Removed: October 3, 2021 through October 30, 2021
+Added: April 3, 2022 through April 30, 2022
4,684,000,000
4 unchanged sentences
on June 14, 2018)
+Added: Form of Best Buy Co.
+Added: Inc., Long-Term Incentive Program Award Agreement (2022) – Restricted Shares
+Added: Form of Best Buy Co.
+Added: Inc., Long-Term Incentive Program Award Agreement (2022) – Restricted Stock Units
Certification of the Chief Executive Officer pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
4 unchanged sentences
Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (1)
−Removed: The following financial information from our Quarterly Report on Form 10-Q for the third quarter of fiscal 2022, filed with the SEC on December 3, 2021, formatted in Inline Extensible Business Reporting Language (“iXBRL”):
−Removed: (i) the Condensed Consolidated Balance Sheets as of October 30, 2021, January 30, 2021, and October 31, 2020, (ii) the Condensed Consolidated Statements of Earnings for the three and nine months ended October 30, 2021, and October 31, 2020, (iii) the Condensed Consolidated Statements of Comprehensive Income for the three and nine months ended October 30, 2021, and October 31, 2020, (iv) the Condensed Consolidated Statements of Cash Flows for the nine months ended October 30, 2021, and October 31, 2020, (v) the Condensed Consolidated Statements of Changes in Shareholders’ Equity for the three and nine months ended October 30, 2021, and October 31, 2020, and (vi) the Notes to Condensed Consolidated Financial Statements.
−Removed: The cover page from our Quarterly Report on Form 10-Q for the third quarter of fiscal 2022, filed with the SEC on December 3, 2021, formatted in iXBRL (included as Exhibit 101).
+Added: The following financial information from our Quarterly Report on Form 10-Q for the first quarter of fiscal 2023, filed with the SEC on June 2, 2022, formatted in Inline Extensible Business Reporting Language (“iXBRL”):
+Added: (i) the Condensed Consolidated Balance Sheets as of April 30, 2022, January 29, 2022, and May 1, 2021, (ii) the Condensed Consolidated Statements of Earnings for the three months ended April 30, 2022, and May 1, 2021, (iii) the Condensed Consolidated Statements of Comprehensive Income for the three months ended April 30, 2022, and May 1, 2021, (iv) the Condensed Consolidated Statements of Cash Flows for the three months ended April 30, 2022, and May 1, 2021, (v) the Condensed Consolidated Statements of Changes in Shareholders’ Equity for the three months ended April 30, 2022, and May 1, 2021, and (vi) the Notes to Condensed Consolidated Financial Statements.
+Added: The cover page from our Quarterly Report on Form 10-Q for the first quarter of fiscal 2023, filed with the SEC on June 2, 2022, formatted in iXBRL (included as Exhibit 101).
(1) The certifications in Exhibit 32.1 and Exhibit 32.2 to this Quarterly Report on Form 10-Q shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to liability of that section and shall not be incorporated by reference into any filing or other document pursuant to the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing or document.
+Added: Management contracts or compensatory plans or arrangements
Pursuant to Item 601(b)(4)(iii) of Regulation S-K under the Securities Act of 1933, as amended, the registrant has not filed as exhibits to this Quarterly Report on Form 10-Q certain instruments with respect to long-term debt under which the amount of securities authorized does not exceed 10% of the total assets of the registrant.
2 unchanged sentences
BEST BUY CO., INC.
−Removed: December 3, 2021
/s/ CORIE BARRY
Chief Executive Officer
−Removed: December 3, 2021
/s/ MATTHEW BILUNAS
1 unchanged sentence
Chief Financial Officer
−Removed: December 3, 2021
/s/ MATHEW R.
1 unchanged sentence
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.