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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Best Buy Company | NYSE:BBY | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
2.03 | 2.80% | 74.47 | 74.68 | 73.12 | 73.20 | 2,058,530 | 00:06:57 |
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x
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ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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¨
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TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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Page
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FINANCIAL STATEMENTS AS OF AND FOR THE YEARS ENDED DECEMBER 31, 2015 AND 2014:
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NOTE:
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All other schedules required by Section 2520.103-10 of the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974 have been omitted because they are not applicable.
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2015
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2014
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||||
ASSETS
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Investments:
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||||
Investments at fair value (see Note 3)
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$
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1,157,637,239
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|
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$
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1,173,745,942
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Investments at contract value (see Note 4)
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160,376,538
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170,545,843
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||
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||||
Total investments
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1,318,013,777
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1,344,291,785
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||||
Receivables:
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||||
Participant contributions
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2,046,259
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|
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—
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||
Employer contributions
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1,112,243
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1,110,419
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Rollover contributions
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—
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39,085
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Participant loans
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36,925,385
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61,705,301
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Total receivables
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40,083,887
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62,854,805
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NET ASSETS AVAILABLE FOR BENEFITS
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$
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1,358,097,664
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$
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1,407,146,590
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2015
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2014
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||||
ADDITIONS:
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Contributions:
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Participant
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$
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91,021,873
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$
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92,640,614
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Employer
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49,312,038
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53,947,323
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Rollovers
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2,285,898
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1,321,319
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Total contributions
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142,619,809
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147,909,256
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Investment income:
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Interest and dividend income
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58,919,804
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63,232,382
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Net realized and unrealized depreciation in fair value of investments
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(86,217,349
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)
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(7,212,639
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)
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Total additions
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115,322,264
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203,928,999
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DEDUCTIONS:
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Benefits paid to participants
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(161,361,711
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)
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(229,903,971
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)
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Administrative expenses
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(3,009,479
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)
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(2,030,820
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)
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Total deductions
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(164,371,190
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)
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(231,934,791
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)
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DECREASE IN NET ASSETS
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(49,048,926
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)
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(28,005,792
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)
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NET ASSETS AVAILABLE FOR BENEFITS:
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Beginning of year
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1,407,146,590
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1,435,152,382
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End of year
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$
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1,358,097,664
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$
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1,407,146,590
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1.
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DESCRIPTION OF THE PLAN
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2.
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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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3.
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FAIR VALUE MEASUREMENTS
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i.
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Quoted prices for similar assets or liabilities in active markets;
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ii.
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Quoted prices for identical or similar assets in non-active markets;
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iii.
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Inputs other than quoted prices that are observable for the asset or liability; and
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iv.
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Inputs that are derived principally from or corroborated by other observable market data.
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Investments at Fair Value as of December 31, 2015
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Level 1
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Level 2
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Level 3
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Total
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Cash and cash equivalents
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$
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3,331,233
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$
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—
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$
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—
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$
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3,331,233
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Best Buy Co., Inc. stock fund
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117,666,998
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—
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—
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117,666,998
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Registered investments
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Domestic stocks
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204,279,301
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—
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—
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204,279,301
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International stocks
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109,120,182
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—
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—
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109,120,182
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Bond fund
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87,462,806
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—
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—
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87,462,806
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Pooled funds
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BlackRock Equity Index Fund
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—
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149,118,735
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—
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149,118,735
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Jennison Large Cap Growth Fund
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—
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118,215,725
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—
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118,215,725
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Managed AMG Funds Timesquare Midcap
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—
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23,995,108
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—
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23,995,108
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Hewitt Ennis Knupp funds
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—
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344,447,151
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—
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344,447,151
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Total
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$
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521,860,520
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$
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635,776,719
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$
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—
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$
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1,157,637,239
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Investments at Fair Value as of December 31, 2014
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||||||||||||||
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Level 1
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Level 2
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Level 3
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Total
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||||||||
Cash and cash equivalents
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$
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4,720,887
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$
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—
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$
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—
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$
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4,720,887
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Best Buy Co., Inc. stock fund
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163,527,142
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—
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—
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163,527,142
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Registered investments:
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Domestic stocks
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271,531,895
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—
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—
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271,531,895
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International stocks
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92,838,583
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—
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—
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92,838,583
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Bond fund
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78,795,501
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—
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—
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78,795,501
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Pooled funds
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BlackRock Equity Index Fund
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—
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126,589,477
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—
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126,589,477
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Jennison Large Cap Growth Fund
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—
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98,266,041
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—
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98,266,041
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Hewitt Ennis Knupp funds
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—
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337,476,416
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—
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337,476,416
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||||
Total
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$
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611,414,008
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$
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562,331,934
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$
|
—
|
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$
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1,173,745,942
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4.
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INVESTMENT CONTRACTS
|
•
|
material amendments to the Plan's structure or administration;
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•
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complete or partial termination of the Plan, including a merger with another plan;
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•
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the failure of the Plan to qualify for exemption from federal income taxes or any required prohibited transaction exemption under ERISA;
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•
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the redemption of all or a portion of the interests in the Plan at the direction of the Plan sponsor, including withdrawals due to the removal of a specifically identifiable group of employees from coverage under the Plan (such as a group layoff or early retirement incentive program), the closing or sale of a subsidiary, employing unit or affiliate, the
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•
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any change in law, regulation, ruling, administrative or judicial position or accounting requirement applicable to the Plan;
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•
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changes to competing investment options; and
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•
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the delivery of any communication to Plan participants designed to influence a participant not to invest in the stable value option.
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5.
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EXEMPT PARTY-IN-INTEREST TRANSACTIONS
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2015
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2014
|
||||
Number of common shares purchased
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1,118,550
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1,365,142
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Cost of common shares purchased
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$
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39,240,930
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$
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38,767,185
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Number of common shares sold
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1,513,112
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1,576,219
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Market value of common shares sold
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$
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54,681,083
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$
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48,106,810
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Cost of common shares sold
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$
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35,803,371
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$
|
31,535,190
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6.
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PLAN TERMINATION
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7.
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FEDERAL INCOME TAX STATUS
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8.
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RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500
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2015
|
|
2014
|
||||
Net assets available for benefits per the financial statements
|
$
|
1,358,097,664
|
|
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$
|
1,407,146,590
|
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Adjustment from contract value to fair value for fully benefit-responsive investment contracts
|
—
|
|
|
1,641,341
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||
Deemed loan activity
|
(1,847,467
|
)
|
|
(1,319,027
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)
|
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Net assets available for benefits per Form 5500
|
$
|
1,356,250,197
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$
|
1,407,468,904
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2015
|
|
2014
|
||||
Decrease in net assets per statement of changes in net assets available for plan benefits
|
$
|
(49,048,926
|
)
|
|
$
|
(28,005,792
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)
|
Changes in adjustment from contract value to fair value for fully benefit-responsive investment contracts
|
(1,641,341
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)
|
|
1,014,573
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|
||
Changes in deemed loan activity
|
(528,440
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)
|
|
(164,904
|
)
|
||
Net loss per Form 5500
|
$
|
(51,218,707
|
)
|
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$
|
(27,156,123
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)
|
Description of Investment
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Current Value
|
|||
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CASH AND CASH EQUIVALENTS
|
|
|
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*
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SSGA Government Money Market Fund
|
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$
|
3,331,233
|
|
|
|
|
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REGISTERED INVESTMENT COMPANIES:
|
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American Beacon Large Cap Value Fund
|
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75,033,721
|
|
|
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Artisan Small Cap Value Fund
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|
55,146,168
|
|
|
|
MFS International Equity Fund
|
|
109,120,182
|
|
|
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PIMCO Total Return Fund
|
|
87,462,806
|
|
|
|
Prudential Jennison Small Cap Fund
|
|
53,538,526
|
|
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RidgeWorth Mid Cap Value Equity Fund
|
|
20,560,886
|
|
|
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Total registered investment companies
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400,862,289
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|
|
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POOLED FUNDS:
|
|
|
||
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BlackRock Equity Index Fund
|
|
149,118,735
|
|
|
|
Jennison Large Cap Growth Fund
|
|
118,215,725
|
|
|
|
Managed AMG Funds Timesquare Midcap
|
|
23,995,108
|
|
|
*
|
Hewitt Ennis Knupp Retirement Growth
|
|
15,230,867
|
|
|
*
|
Hewitt Ennis Knupp LifeCycle 2015
|
|
7,623,746
|
|
|
*
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Hewitt Ennis Knupp LifeCycle 2020
|
|
17,586,940
|
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|
*
|
Hewitt Ennis Knupp LifeCycle 2025
|
|
26,132,521
|
|
|
*
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Hewitt Ennis Knupp LifeCycle 2030
|
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31,373,638
|
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|
*
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Hewitt Ennis Knupp LifeCycle 2035
|
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40,526,924
|
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|
*
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Hewitt Ennis Knupp LifeCycle 2040
|
|
45,538,641
|
|
|
*
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Hewitt Ennis Knupp LifeCycle 2045
|
|
54,980,998
|
|
|
*
|
Hewitt Ennis Knupp LifeCycle 2050
|
|
83,794,593
|
|
|
*
|
Hewitt Ennis Knupp LifeCycle 2055
|
|
17,632,439
|
|
|
*
|
Hewitt Ennis Knupp LifeCycle 2060
|
|
4,025,844
|
|
|
|
Total pooled funds
|
|
635,776,719
|
|
|
|
|
|
|
||
|
Galliard Stable Value Fund
|
|
160,376,538
|
|
|
|
|
|
|
||
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BEST BUY CO., INC. STOCK FUND:
|
|
|
||
*
|
Best Buy Co., Inc. Common Stock
|
|
117,666,998
|
|
|
|
|
|
|
||
|
TOTAL 2015 INVESTMENTS
|
|
$
|
1,318,013,777
|
|
|
|
|
|
||
*
|
PARTICIPANT LOANS, 4.25%–11.5% interest rate range and maturity dates through November 10, 2028
|
|
$
|
36,925,385
|
|
|
|
|
|
||
|
|
|
|
||
*
|
Denotes party-in-interest
|
|
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|
Best Buy Retirement Savings Plan
|
|
|
|
Date: June 24, 2016
|
By:
|
/s/ CHARLES MONTREUIL
|
|
|
Charles Montreuil
|
|
|
Senior Vice President, Enterprise Rewards and Corporate HR
|
1 Year Best Buy Chart |
1 Month Best Buy Chart |
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