Analysis: Deferred Assets and Liabilities, Net

Entity Registrant Name BEST BUY CO INC
CIK 0000764478
Accession number 0000764478-14-000011
Link to XBRL instance http://www.sec.gov/Archives/edgar/data/764478/000076447814000011/bby-20140201.xml
Fiscal year end --02-01
Fiscal year focus 2014
Fiscal period focus FY
Current balance sheet date 2014-02-01
Current year-to-date income statement start date 2013-02-03
Commentary Conforms with all rules.
Level 3 Text Block concept us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Deferred taxes are the result of differences between the bases of assets and liabilities for financial reporting and income tax purposes. Deferred tax assets and liabilities were comprised of the following ($ in millions):
 
February 1, 2014
 
February 2, 2013
Accrued property expenses
$
162

 
$
194

Other accrued expenses
133

 
119

Deferred revenue
81

 
153

Compensation and benefits
114

 
95

Stock-based compensation
110

 
137

Loss and credit carryforwards
176

 
266

Other
103

 
125

Total deferred tax assets
879

 
1,089

Valuation allowance
(158
)
 
(228
)
Total deferred tax assets after valuation allowance
721

 
861

Property and equipment
(286
)
 
(343
)
Goodwill and intangibles
(75
)
 
(127
)
Inventory
(60
)
 
(90
)
Other
(16
)
 
(22
)
Total deferred tax liabilities
(437
)
 
(582
)
Net deferred tax assets
$
284

 
$
279

Level 4 Details Key Concepts: Deferred tax assets (liabilities)

Description Fact value US GAAP XBRL Concept
Deferred tax assets, gross 879,000,000 us-gaap:DeferredTaxAssetsGross
Valuation allowance -158,000,000 us-gaap:DeferredTaxAssetsValuationAllowance
Deferred tax assets, net 721,000,000 us-gaap:DeferredTaxAssetsNet
Deferred tax liabilities -437,000,000 us-gaap:DeferredIncomeTaxLiabilities
Deferred tax assets (liabilities), net 284,000,000 us-gaap:DeferredTaxAssetsLiabilitiesNet
CHECK 0

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(Classified balance sheet) Deferred tax assets (liabilities), net components current/noncurrent asset/liability

Description Fact value US GAAP XBRL Concept
Deferred tax assets, net, current 261,000,000 us-gaap:DeferredTaxAssetsNetCurrent
Deferred tax assets, net, noncurrent 44,000,000 us-gaap:DeferredTaxAssetsNetNoncurrent
Deferred tax liabilities, net, current 0 us-gaap:DeferredTaxLiabilitiesCurrent
Deferred tax liabilities, net, noncurrent -21,000,000 us-gaap:DeferredIncomeTaxLiabilities
Deferred tax assets (liabilities), net 284,000,000 us-gaap:DeferredTaxAssetsLiabilitiesNet
CHECK 0

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(Unclassified balance sheet) Deferred tax assets (liabilities), net components asset/liability

Description Fact value US GAAP XBRL Concept
Deferred tax assets 721,000,000 us-gaap:DeferredTaxAssetsNetCurrent
Deferred tax liabilities, net -437,000,000 us-gaap:DeferredIncomeTaxLiabilities
Deferred tax assets (liabilities), net 284,000,000 us-gaap:DeferredTaxAssetsLiabilitiesNet
CHECK 0

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