2 unchanged sentences
$ in millions, except per share amounts (unaudited)
−Removed: August 2, 2025 February 1, 2025 August 3, 2024
+Added: November 1, 2025 February 1, 2025 November 2, 2024
Current assets
40 unchanged sentences
$ and shares in millions, except per share amounts (unaudited)
−Removed: Three Months Ended Six Months Ended
−Removed: August 2, 2025 August 3, 2024 August 2, 2025 August 3, 2024
+Added: Three Months Ended Nine Months Ended
+Added: November 1, 2025 November 2, 2024 November 1, 2025 November 2, 2024
Revenue $ 9,672 $ 9,445 $ 27,877 $ 27,580
3 unchanged sentences
Restructuring charges ( 5 ) ( 4 ) 218 4
+Added: Goodwill and intangible asset impairments 171 - 171 -
Operating income 198 350 668 1,045
3 unchanged sentences
Interest expense ( 12 ) ( 13 ) ( 36 ) ( 38 )
−Removed: Earnings before income tax expense and equity in income of affiliates 253 391 475 716
+Added: Earnings before income tax expense and equity in income (loss) of affiliates 205 356 680 1,072
Income tax expense 64 85 151 266
−Removed: Equity in income of affiliates 1 1 - 2
+Added: Equity in income (loss) of affiliates ( 1 ) 2 ( 1 ) 4
Net earnings $ 140 $ 273 $ 528 $ 810
7 unchanged sentences
$ in millions (unaudited)
−Removed: Three Months Ended Six Months Ended
−Removed: August 2, 2025 August 3, 2024 August 2, 2025 August 3, 2024
+Added: Three Months Ended Nine Months Ended
+Added: November 1, 2025 November 2, 2024 November 1, 2025 November 2, 2024
Net earnings $ 140 $ 273 $ 528 $ 810
4 unchanged sentences
$ in millions (unaudited)
−Removed: Six Months Ended
−Removed: August 2, 2025 August 3, 2024
+Added: Nine Months Ended
+Added: November 1, 2025 November 2, 2024
Operating activities
3 unchanged sentences
Restructuring charges 218 4
+Added: Goodwill and intangible asset impairments 171 -
Stock-based compensation 106 108
1 unchanged sentence
Loss on disposal of subsidiaries 4 -
+Added: Long-lived asset impairments 21 2
Other, net 6 -
15 unchanged sentences
Dividends paid ( 602 ) ( 607 )
+Added: Repayments of debt ( 10 ) ( 13 )
Other, net 4 13
9 unchanged sentences
Income (Loss) Total
−Removed: Balances at May 3, 2025 211.3 $ 22 $ - $ 2,428 $ 313 $ 2,763
−Removed: Net earnings, three months ended August 2, 2025 - - - 186 - 186
+Added: Balances at August 2, 2025 210.4 $ 22 $ - $ 2,381 $ 313 $ 2,716
+Added: Net earnings, three months ended November 1, 2025 - - - 140 - 140
+Added: Other comprehensive loss:
+Added: Foreign currency translation adjustments, net of tax - - - - ( 4 ) ( 4 )
Stock-based compensation - - 31 - - 31
+Added: Issuance of common stock 0.1 - 3 - - 3
Common stock dividends, $ 0.95 per share
1 unchanged sentence
Repurchase of common stock ( 0.5 ) - ( 22 ) ( 12 ) - ( 34 )
−Removed: Balances at August 2, 2025 210.4 $ 22 $ - $ 2,381 $ 313 $ 2,716
+Added: Balances at November 1, 2025 210.0 $ 22 $ 16 $ 2,306 $ 309 $ 2,653
Balances at February 1, 2025 211.4 $ 22 $ - $ 2,486 $ 300 $ 2,808
−Removed: Net earnings, six months ended August 2, 2025 - - - 388 - 388
+Added: Net earnings, nine months ended November 1, 2025 - - - 528 - 528
Other comprehensive income:
5 unchanged sentences
Repurchase of common stock ( 3.0 ) - ( 109 ) ( 92 ) - ( 201 )
+Added: Balances at November 1, 2025 210.0 $ 22 $ 16 $ 2,306 $ 309 $ 2,653
Balances at August 3, 2024 215.0 $ 22 $ - $ 2,775 $ 310 $ 3,107
−Removed: Balances at May 4, 2024 216.1 $ 22 $ 26 $ 2,722 $ 312 $ 3,082
−Removed: Net earnings, three months ended August 3, 2024 - - - 291 - 291
+Added: Net earnings, three months ended November 2, 2024 - - - 273 - 273
Other comprehensive loss:
5 unchanged sentences
Repurchase of common stock ( 1.4 ) - ( 44 ) ( 91 ) - ( 135 )
−Removed: Balances at August 3, 2024 215.0 $ 22 $ - $ 2,775 $ 310 $ 3,107
+Added: Balances at November 2, 2024 213.8 $ 22 $ - $ 2,751 $ 309 $ 3,082
Balances at February 3, 2024 215.4 $ 22 $ 31 $ 2,683 $ 317 $ 3,053
−Removed: Net earnings, six months ended August 3, 2024 - - - 537 - 537
+Added: Net earnings, nine months ended November 2, 2024 - - - 810 - 810
Other comprehensive loss:
5 unchanged sentences
Repurchase of common stock ( 3.2 ) - ( 163 ) ( 122 ) - ( 285 )
−Removed: Balances at August 3, 2024 215.0 $ 22 $ - $ 2,775 $ 310 $ 3,107
+Added: Balances at November 2, 2024 213.8 $ 22 $ - $ 2,751 $ 309 $ 3,082
See Notes to Condensed Consolidated Financial Statements.
8 unchanged sentences
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, 2025.
−Removed: The first six months of fiscal 2026 and fiscal 2025 each included 26 weeks.
−Removed: In preparing the accompanying condensed consolidated financial statements, we evaluated the period from August 2, 2025, through the date the financial statements were issued for material subsequent events requiring recognition or disclosure.
+Added: The first nine months of fiscal 2026 and fiscal 2025 each included 39 weeks.
+Added: In preparing the accompanying condensed consolidated financial statements, we evaluated the period from November 1, 2025, through the date the financial statements were issued for material subsequent events requiring recognition or disclosure.
No such events were identified.
11 unchanged sentences
The OB3 extends key provisions of the 2017 Tax Cuts and Jobs Act, including, but not limited to, domestic research expensing, 100% bonus depreciation on tangible property and modifications to the international tax framework.
−Removed: The provisions will not have a material impact on our income tax expense.
+Added: The provisions do not have a material impact on our income tax expense.
Supply Chain Financing
We have a supply chain financing program with an independent financial institution, whereby some of our suppliers have the opportunity to receive accounts payable settlements early, at a discount, facilitated by the financial institution.
−Removed: Our liability associated with the funded participation in the program, which is primarily included in Accounts payable on our Condensed Consolidated Balance Sheets, was $ 872 million, $ 398 million and $ 729 million as of August 2, 2025, February 1, 2025, and August 3, 2024, respectively.
+Added: Our liability associated with the funded participation in the program, which is primarily included in Accounts payable on our Condensed Consolidated Balance Sheets, was $ 1,091 million, $ 398 million and $ 793 million as of November 1, 2025, February 1, 2025, and November 2, 2024, respectively.
Total Cash, Cash Equivalents and Restricted Cash
Cash, cash equivalents and restricted cash reported on our Condensed Consolidated Balance Sheets are reconciled to the totals shown on our Condensed Consolidated Statements of Cash Flows as follows ($ in millions):
−Removed: August 2, 2025 February 1, 2025 August 3, 2024
+Added: November 1, 2025 February 1, 2025 November 2, 2024
Cash and cash equivalents $ 923 $ 1,578 $ 643
6 unchanged sentences
Restructuring charges were as follows ($ in millions):
−Removed: Three Months Ended Six Months Ended
−Removed: August 2, 2025 August 3, 2024 August 2, 2025 August 3, 2024
+Added: Three Months Ended Nine Months Ended
+Added: November 1, 2025 November 2, 2024 November 1, 2025 November 2, 2024
Fiscal 2026 Labor and Store Optimization Initiative $ ( 1 ) $ — $ 121 $ —
8 unchanged sentences
The composition of restructuring charges incurred related to this initiative were as follows ($ in millions):
−Removed: Three Months Ended
−Removed: Domestic International Total
+Added: Three Months Ended Nine Months Ended
+Added: November 1, 2025 November 1, 2025
+Added: Domestic International Total Domestic International Total
Termination benefits $ ( 1 ) $ — $ ( 1 ) $ 77 $ 3 $ 80
Asset impairments (1)
+Added: — — — 41 — 41
Total $ ( 1 ) $ — $ ( 1 ) $ 118 $ 3 $ 121
1 unchanged sentence
See Note 3, Goodwill and Intangible Assets , for additional information.
−Removed: The remaining carrying value of net assets approximates fair value and was immaterial as of August 2, 2025 .
−Removed: There were no cash payments related to this initiative during the second quarter of fiscal 2026.
−Removed: Our restructuring accrual liabilities related to termination benefits of $ 81 million as of August 2, 2025, reflect expected future cash payments primarily during fiscal 2026.
+Added: The remaining carrying value of net assets approximates fair value and was immaterial as of November 1, 2025.
+Added: Restructuring accrual activity related to this initiative was as follows ($ in millions):
+Added: Termination Benefits
+Added: Domestic International Total
+Added: Balances at February 1, 2025 $ - $ - $ -
+Added: Charges 78 3 81
+Added: Cash payments ( 17 ) - ( 17 )
+Added: Adjustments (1)
+Added: ( 1 ) - ( 1 )
+Added: Balances at November 1, 2025 $ 60 $ 3 $ 63
+Added: (1) Represents adjustments primarily related to higher-than-expected employee retention from previously planned organizational changes.
+Added: Our restructuring accrual liabilities related to termination benefits of $ 63 million as of November 1, 2025, reflect expected future cash payments primarily during fiscal 2027.
Best Buy Health Optimization and China Sourcing Initiative
5 unchanged sentences
The composition of restructuring charges incurred related to this initiative were as follows ($ in millions):
−Removed: Three Months Ended Six Months Ended
−Removed: August 2, 2025 August 2, 2025
+Added: Three Months Ended Nine Months Ended
+Added: November 1, 2025 November 1, 2025
Asset impairments and other costs (1)
2 unchanged sentences
(1) Primarily represents the full impairment of net assets related to a component of our Best Buy Health business and other exit costs.
−Removed: The remaining carrying value of net assets approximates fair value and was immaterial as of August 2, 2025 .
+Added: The remaining carrying value of net assets approximates fair value and was immaterial as of November 1, 2025.
Restructuring accrual activity related to this initiative was as follows ($ in millions):
5 unchanged sentences
( 6 ) ( 1 ) ( 7 )
−Removed: Balances at August 2, 2025 $ 26 $ - $ 26
+Added: Balances at November 1, 2025 $ 15 $ — $ 15
(1) Primarily represents adjustments for termination benefits primarily related to higher-than-expected employee retention from previously planned organizational changes.
−Removed: Our restructuring accrual liabilities related to termination benefits of $ 26 million as of August 2, 2025, reflect expected future cash payments primarily during fiscal 2026.
+Added: Our restructuring accrual liabilities related to termination benefits of $ 15 million as of November 1, 2025, reflect expected future cash payments primarily during fiscal 2026.
Fiscal 2024 Restructuring Initiative
2 unchanged sentences
All charges incurred related to this initiative were comprised of employee termination benefits from continuing operations and were presented within Restructuring charges on our Condensed Consolidated Statements of Earnings as follows ($ in millions):
−Removed: Three Months Ended Six Months Ended Cumulative Amount as of
−Removed: August 2, 2025 August 3, 2024 August 2, 2025 August 3, 2024 August 2, 2025
+Added: Three Months Ended Nine Months Ended Cumulative Amount as of
+Added: November 1, 2025 November 2, 2024 November 1, 2025 November 2, 2024 November 1, 2025
Domestic $ ( 1 ) $ ( 4 ) $ ( 5 ) $ 6 $ 161
8 unchanged sentences
( 5 ) - ( 5 )
−Removed: Balances at August 2, 2025 $ 61 $ 4 $ 65
+Added: Balances at November 1, 2025 $ 54 $ 2 $ 56
(1) Represents adjustments primarily related to higher-than-expected employee retention from previously planned organizational changes.
−Removed: Our restructuring accrual liabilities related to termination benefits of $ 65 million as of August 2, 2025, reflect expected future cash payments primarily during fiscal 2026.
+Added: Our restructuring accrual liabilities related to termination benefits of $ 56 million as of November 1, 2025, reflect expected future cash payments primarily during fiscal 2027.
Goodwill and Intangible Assets
Goodwill balances by segment were as follows ($ in millions):
−Removed: August 2, 2025 February 1, 2025 August 3, 2024
+Added: November 1, 2025 February 1, 2025 November 2, 2024
Gross Carrying Amount Cumulative Impairment Gross Carrying Amount Cumulative Impairment Gross Carrying Amount Cumulative Impairment
2 unchanged sentences
Total $ 2,058 $ ( 1,268 ) $ 2,058 $ ( 1,150 ) $ 2,058 $ ( 675 )
−Removed: In fiscal 2025, we recorded a goodwill impairment of $ 475 million within the Domestic segment for the Best Buy Health reporting unit.
−Removed: The restructuring activity that commenced in the first quarter of fiscal 2026 was a triggering event to evaluate the Best Buy Health reporting unit for impairment.
−Removed: No further goodwill impairment was identified.
−Removed: Refer to Note 2, Restructuring , for additional information.
+Added: In the third quarter of fiscal 2026, we recorded a goodwill impairment of $ 118 million within the Domestic segment for the Best Buy Health reporting unit.
+Added: The carrying value of the Best Buy Health reporting unit as of November 1, 2025, was $ 298 million.
+Added: A change in Best Buy Health’s customer base during the quarter resulted in an impairment review of all Best Buy Health assets.
+Added: The fair value of Best Buy Health was estimated primarily based on discounted cash flow analysis.
+Added: The impairment reflects downward revisions of our revenue growth rates and margin rates compared to previous projections, in part due to pressures in the Medicaid and Medicare Advantage markets.
+Added: In addition, definite-lived intangible asset impairments and long-lived asset impairments were also recorded.
+Added: Refer to Note 4, Fair Value Measurements , for additional information.
Indefinite-Lived Intangible Assets
3 unchanged sentences
We have definite-lived intangible assets recorded within Other assets on our Condensed Consolidated Balance Sheets as follows ($ in millions):
−Removed: August 2, 2025 February 1, 2025 August 3, 2024 Weighted-Average Useful Life Remaining
−Removed: as of August 2, 2025
+Added: November 1, 2025 February 1, 2025 November 2, 2024 Weighted-Average Useful Life Remaining
+Added: as of November 1, 2025
Gross Carrying
5 unchanged sentences
Customer relationships (2)
+Added: $ 339 $ 339 $ 360 $ 285 $ 360 $ 283 -
Tradenames 87 80 92 79 92 77 0.9
1 unchanged sentence
Total $ 482 $ 475 $ 516 $ 425 $ 516 $ 420 0.9
−Removed: (1) Gross carrying amount and accumulated amortization as of August 2, 2025, excludes $ 34 million and $ 16 million, respectively, of definite-lived intangible assets related to the exit of a component of our Best Buy Health business.
+Added: (1) Gross carrying amount and accumulated amortization as of November 1, 2025, excludes $ 34 million and $ 16 million, respectively, of definite-lived intangible assets related to the exit of a component of our Best Buy Health business in the second quarter of fiscal 2026.
See Note 2, Restructuring , for additional information.
+Added: (2) Accumulated amortization as of November 1, 2025, includes $ 53 million of impairments related to Best Buy Health included in Goodwill and intangible asset impairments on our Condensed Consolidated Statements of Earnings.
Amortization expense, included in Selling, general and administrative expenses ("SG&A") on our Condensed Consolidated Statements of Earnings, was as follows ($ in millions):
−Removed: Three Months Ended Six Months Ended
−Removed: August 2, 2025 August 3, 2024 August 2, 2025 August 3, 2024
+Added: Three Months Ended Nine Months Ended
+Added: November 1, 2025 November 2, 2024 November 1, 2025 November 2, 2024
Amortization expense $ 3 $ 5 $ 12 $ 16
3 unchanged sentences
Fiscal 2027 5
−Removed: Fiscal 2028 8
−Removed: Fiscal 2029 7
−Removed: Fiscal 2030 6
−Removed: Fiscal 2031 5
−Removed: Thereafter 18
Fair Value Measurements
7 unchanged sentences
Balance Sheet Location (1)
−Removed: Fair Value Hierarchy August 2, 2025 February 1, 2025 August 3, 2024
+Added: Fair Value Hierarchy November 1, 2025 February 1, 2025 November 2, 2024
Money market funds (2)
18 unchanged sentences
Nonrecurring Fair Value Measurements
−Removed: In the second quarter and first six months of fiscal 2026, we recorded asset impairments and other costs as a result of restructuring initiatives that commenced in the first and second quarters of fiscal 2026.
−Removed: These fair value remeasurements were based on significant unobservable inputs (Level 3).
+Added: In the first six months of fiscal 2026, we recorded asset impairments and other costs as a result of restructuring initiatives that commenced in the first and second quarters of fiscal 2026.
Refer to Note 2, Restructuring , for additional information.
+Added: In the third quarter of fiscal 2026, we recorded goodwill and definite-lived intangible asset impairments related to Best Buy Health.
+Added: Refer to Note 3, Goodwill and Intangible Assets , for additional information.
+Added: In addition, we recorded $ 21 million of long-lived asset impairments related to Best Buy Health, included in SG&A on our Condensed Consolidated Statements of Earnings.
+Added: The remaining carrying value of net long-lived assets subject to impairment approximates fair value and was immaterial as of November 1, 2025.
+Added: All nonrecurring fair value remeasurements mentioned above were based on significant unobservable inputs (Level 3).
Fair Value of Financial Instruments
5 unchanged sentences
Long-term debt balances were as follows ($ in millions):
−Removed: August 2, 2025 February 1, 2025 August 3, 2024
+Added: November 1, 2025 February 1, 2025 November 2, 2024
Fair Value Carrying Value Fair Value Carrying Value Fair Value Carrying Value
8 unchanged sentences
Notional amounts of our derivative instruments were as follows ($ in millions):
−Removed: Contract Type August 2, 2025 February 1, 2025 August 3, 2024
+Added: November 1, 2025 February 1, 2025 November 2, 2024
Derivatives designated as net investment hedges $ 119 $ 119 $ 119
4 unchanged sentences
Gain (Loss) Recognized
−Removed: Three Months Ended Six Months Ended
−Removed: August 2, 2025 August 3, 2024 August 2, 2025 August 3, 2024
+Added: Three Months Ended Nine Months Ended
+Added: November 1, 2025 November 2, 2024 November 1, 2025 November 2, 2024
Interest rate swaps $ ( 8 ) $ ( 14 ) $ 7 $ ( 5 )
6 unchanged sentences
The Five-Year Facility Agreement permits borrowings of up to $ 1.25 billion and expires in April 2030.
−Removed: There were no borrowings outstanding under the Five-Year Facility Agreement as of August 2, 2025, or the Previous Facility as of February 1, 2025, or August 3, 2024.
+Added: There were no borrowings outstanding under the Five-Year Facility Agreement as of November 1, 2025, or the Previous Facility as of February 1, 2025, or November 2, 2024.
Long-Term Debt
Long-term debt consisted of the following ($ in millions):
−Removed: August 2, 2025 February 1, 2025 August 3, 2024
+Added: November 1, 2025 February 1, 2025 November 2, 2024
Notes, 4.45 %, due October 1, 2028 ("2028 Notes")
10 unchanged sentences
See Note 4, Fair Value Measurements , for the fair value of long-term debt.
−Removed: Both the 2028 Notes and the 2030 Notes mature within the next five fiscal years.
+Added: The 2028 Notes mature in fiscal 2029 and the 2030 Notes mature in fiscal 2031.
We generate substantially all of our revenue from contracts with customers from the sale of products and services.
−Removed: Contract balances primarily relate to unfulfilled membership benefits and services not yet completed, product merchandise not yet delivered to customers, deferred revenue from our private label and co-branded credit card arrangement and unredeemed gift cards.
+Added: Contract balances primarily relate to unfulfilled membership benefits and services not yet completed, product merchandise not yet delivered to customers, unredeemed gift cards and deferred revenue from our private label and co-branded credit card arrangement.
Contract balances were as follows ($ in millions):
−Removed: August 2, 2025 February 1, 2025 August 3, 2024
+Added: November 1, 2025 February 1, 2025 November 2, 2024
Receivables, net (1)
6 unchanged sentences
Long-term liabilities 209 229 237
−Removed: (1) Receivables are recorded net of allowances for expected credit losses of $ 14 million, $ 20 million and $ 16 million as of August 2, 2025, February 1, 2025, and August 3, 2024, respectively.
−Removed: During the first six months of fiscal 2026 and fiscal 2025, $ 853 million and $ 893 million of revenue was recognized, respectively, that was included in the contract liabilities at the beginning of the respective periods.
+Added: (1) Receivables are recorded net of allowances for expected credit losses of $ 15 million, $ 20 million and $ 16 million as of November 1, 2025, February 1, 2025, and November 2, 2024, respectively.
+Added: During the first nine months of fiscal 2026 and fiscal 2025, $ 1,003 million and $ 1,054 million of revenue was recognized, respectively, that was included in the contract liabilities at the beginning of the respective periods.
Estimated revenue from our contract liability balances expected to be recognized in future periods if the performance of the contract is expected to have an initial duration of more than one year is as follows ($ in millions):
11 unchanged sentences
Reconciliations of the numerators and denominators of basic and diluted earnings per share were as follows ($ and shares in millions, except per share amounts):
−Removed: Three Months Ended Six Months Ended
−Removed: August 2, 2025 August 3, 2024 August 2, 2025 August 3, 2024
+Added: Three Months Ended Nine Months Ended
+Added: November 1, 2025 November 2, 2024 November 1, 2025 November 2, 2024
Net earnings $ 140 $ 273 $ 528 $ 810
7 unchanged sentences
On February 28, 2022, our Board of Directors approved a $ 5.0 billion share repurchase program.
−Removed: The program had $ 3.1 billion remaining available for repurchases as of August 2, 2025.
+Added: The program had $ 3.1 billion remaining available for repurchases as of November 1, 2025.
There is no expiration date governing the period over which we can repurchase shares under this authorization.
Information regarding the shares we repurchased and retired was as follows ($ and shares in millions, except per share amounts):
−Removed: Three Months Ended Six Months Ended
−Removed: August 2, 2025 August 3, 2024 August 2, 2025 August 3, 2024
+Added: Three Months Ended Nine Months Ended
+Added: November 1, 2025 November 2, 2024 November 1, 2025 November 2, 2024
Total cost of shares repurchased $ 34 $ 135 $ 201 $ 285
7 unchanged sentences
Segment and category revenue information was as follows ($ in millions):
−Removed: Three Months Ended Six Months Ended
−Removed: August 2, 2025 August 3, 2024 August 2, 2025 August 3, 2024
+Added: Three Months Ended Nine Months Ended
+Added: November 1, 2025 November 2, 2024 November 1, 2025 November 2, 2024
Computing and Mobile Phones $ 4,368 $ 4,065 $ 12,090 $ 11,445
14 unchanged sentences
Total revenue $ 9,672 $ 9,445 $ 27,877 $ 27,580
−Removed: Adjusted operating income by segment and the reconciliation to consolidated earnings before income tax expense and equity in income of affiliates were as follows ($ in millions):
+Added: Adjusted operating income by segment and the reconciliation to consolidated earnings before income tax expense and equity in income (loss) of affiliates were as follows ($ in millions):
Three Months Ended
−Removed: August 2, 2025 August 3, 2024
+Added: November 1, 2025 November 2, 2024
International Total Domestic (1)
6 unchanged sentences
Restructuring charges ( 5 ) ( 4 )
+Added: Goodwill and intangible asset impairments 171 -
Intangible asset amortization 3 5
+Added: Long-lived asset impairment 21 -
Operating income 198 350
Other income (expense):
−Removed: Loss on disposal of subsidiaries ( 4 ) -
Investment income and other 19 19
Interest expense ( 12 ) ( 13 )
−Removed: Earnings before income tax expense and equity in income of affiliates $ 253 $ 391
+Added: Earnings before income tax expense and equity in income (loss) of affiliates $ 205 $ 356
(1) Domestic segment adjusted operating income includes certain operations that are based in foreign tax jurisdictions and primarily relate to sourcing products into the U.S.
−Removed: (2) Adjusted SG&A excludes amortization of definite-lived intangible assets associated with acquisitions.
−Removed: Six Months Ended
−Removed: August 2, 2025 August 3, 2024
+Added: (2) Adjusted SG&A excludes amortization of definite-lived intangible assets associated with acquisitions and non-cash impairments of certain long-lived assets.
+Added: Nine Months Ended
+Added: November 1, 2025 November 2, 2024
International Total Domestic (1)
6 unchanged sentences
Restructuring charges 218 4
+Added: Goodwill and intangible asset impairments 171 -
Intangible asset amortization 12 16
+Added: Long-lived asset impairment 21 -
Operating income 668 1,045
3 unchanged sentences
Interest expense ( 36 ) ( 38 )
−Removed: Earnings before income tax expense and equity in income of affiliates $ 475 $ 716
+Added: Earnings before income tax expense and equity in income (loss) of affiliates $ 680 $ 1,072
(1) Domestic segment adjusted operating income includes certain operations that are based in foreign tax jurisdictions and primarily relate to sourcing products into the U.S.
−Removed: (2) Adjusted SG&A excludes amortization of definite-lived intangible assets associated with acquisitions.
+Added: (2) Adjusted SG&A excludes amortization of definite-lived intangible assets associated with acquisitions and non-cash impairments of certain long-lived assets.
Other expense and cash flow information by segment was as follows ($ in millions):
−Removed: Three Months Ended Six Months Ended
−Removed: August 2, 2025 August 3, 2024 August 2, 2025 August 3, 2024
+Added: Three Months Ended Nine Months Ended
+Added: November 1, 2025 November 2, 2024 November 1, 2025 November 2, 2024
Capital expenditures
7 unchanged sentences
Asset information by segment was as follows ($ in millions):
−Removed: August 2, 2025 February 1, 2025 August 3, 2024
+Added: November 1, 2025 February 1, 2025 November 2, 2024
Domestic $ 15,219 $ 13,567 $ 15,551
2 unchanged sentences
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.