Item 6. Selected Financial Data.

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Item 6. Selected Financial Data.

The following table presents our selected financial data. The table should be read in conjunction with Item 7, Management's Discussion and Analysis of Financial Condition and Results of Operations, and Item 8, Financial Statements and Supplementary Data, of this Annual Report on Form 10-K.

Five-Year Financial Highlights

$ in millions, except per share amounts



Fiscal Year	2020(1)			2019			2018(2)			2017			2016
Consolidated Statements of Earnings Data
Revenue	$	43,638		$	42,879		$	42,151		$	39,403		$	39,528
Operating income		2,009			1,900			1,843			1,854			1,375
Net earnings from continuing operations		1,541			1,464			999			1,207			807
Gain from discontinued operations		-			-			1			21			90
Net earnings		1,541			1,464			1,000			1,228			897
Per Share Data
Diluted net earnings from continuing operations	$	5.75		$	5.20		$	3.26		$	3.74		$	2.30
Net gain from discontinued operations		-			-			-			0.07			0.26
Diluted net earnings		5.75			5.20			3.26			3.81			2.56
Cash dividends declared and paid		2.00			1.80			1.36			1.57			1.43
Operating Statistics
Comparable sales growth(3)		2.1	%		4.8	%		5.6	%		0.3	%		0.5	%
Gross profit rate		23.0	%		23.2	%		23.4	%		24.0	%		23.3	%
Selling, general and administrative expenses rate		18.3	%		18.7	%		19.0	%		19.2	%		19.3	%
Operating income rate		4.6	%		4.4	%		4.4	%		4.7	%		3.5	%
Year-End Data
Current ratio(4)		1.1			1.2			1.3			1.5			1.4
Total assets	$	15,591		$	12,901		$	13,049		$	13,856		$	13,519
Debt, including current portion		1,271			1,388			1,355			1,365			1,734
Total equity		3,479			3,306			3,612			4,709			4,378
Number of stores
Domestic(5)		1,009			1,026			1,298			1,369			1,416
International		222			212			216			212			216
Total		1,231			1,238			1,514			1,581			1,632
Retail square footage (in thousands)
Domestic(5)		38,821			39,500			40,360			41,039			41,234
International		4,711			4,607			4,602			4,511			4,543
Total		43,532			44,107			44,962			45,550			45,777

(1)In the first quarter of fiscal 2020, we adopted new lease accounting guidance that resulted in the recognition of operating lease assets and operating lease liabilities on the balance sheet. Refer to Note 1, Summary of Significant Accounting Policies, and Note 10, Leases, of the Notes to Consolidated Financial Statements, included in Item 8, Financial Statements and Supplementary Data, of this Annual Report on Form 10-K, for additional information regarding this adoption.

(2)Fiscal 2018 included 53 weeks. All other periods presented included 52 weeks.

(3)Our comparable sales calculation compares revenue from stores, websites and call centers operating for at least 14 full months, as well as revenue related to certain other comparable sales channels for a particular period to the corresponding period in the prior year. Relocated stores, as well as remodeled, expanded and downsized stores closed more than 14 days, are excluded from the comparable sales calculation until at least 14 full months after reopening. Acquisitions are included in the comparable sales calculation beginning with the first full quarter following the first anniversary of the date of the acquisition. In the first quarter of fiscal 2020, we refined our methodology for calculating comparable sales. It now reflects certain revenue streams previously excluded from the comparable sales calculation, such as credit card revenue, gift card breakage, commercial sales and sales of merchandise to wholesalers and dealers, as applicable. The impact of adopting these changes is immaterial to all periods presented, and therefore prior-period comparable sales disclosures have not been restated. Refer to Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations, of this Annual Report on Form 10-K, for additional information regarding our comparable sales calculation.

(4)The current ratio is calculated by dividing total current assets by total current liabilities.

(5)Includes Best Buy Outlet Centers for all fiscal years presented.

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