10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
COSTCO WHOLESALE CORP /NEW | |||
Ticker: COST Fiscal Year: 2010 | |||
CONSOLIDATED STATEMENTS OF INCOME | |||
Period Ending Aug 29, 2010 10-K (Filed: Oct 18, 2010) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Aug 29, 2010 | Aug 30, 2009 | Aug 31, 2008 | |
| REVENUE | |||
| Net sales | $ 76,255 | 69,889 | 70,977 |
| Membership fees | 1,691 | 1,533 | 1,506 |
| Total revenue | 77,946 | 71,422 | 72,483 |
| OPERATING EXPENSES | |||
| Merchandise costs | 67,995 | 62,335 | 63,503 |
| Selling, general and administrative | 7,840 | 7,252 | 6,954 |
| Preopening expenses | 26 | 41 | 57 |
| Provision for impaired assets and closing costs, net | 8 | 17 | 0 |
| Operating income | 2,077 | 1,777 | 1,969 |
| OTHER INCOME (EXPENSE) | |||
| Interest expense | (111) | (108) | (103) |
| Interest income and other, net | 88 | 58 | 145 |
| INCOME BEFORE INCOME TAXES | 2,054 | 1,727 | 2,011 |
| Provision for income taxes | 731 | 628 | 716 |
| Net income including noncontrolling interests | 1,323 | 1,099 | 1,295 |
| Net income attributable to noncontrolling interests | (20) | (13) | (12) |
| NET INCOME ATTRIBUTABLE TO COSTCO | 1,303 | 1,086 | 1,283 |
| NET INCOME PER COMMON SHARE ATTRIBUTABLE TO COSTCO: | |||
| Shares used in calculation (000's) | |||
| Basic | 438,611 | 433,988 | 434,442 |
| Diluted | 445,970 | 440,454 | 444,240 |
| Dividends per share | 0.77 | 0.68 | 0.61 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
COSTCO WHOLESALE CORP /NEW | |||
Ticker: COST Fiscal Year: 2010 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending Aug 29, 2010 10-K (Filed: Oct 18, 2010) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Aug 29, 2010 | Aug 30, 2009 | Aug 31, 2008 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | |||
| Net income including noncontrolling interests | $ 1,323 | 1,099 | 1,295 |
| Adjustments to reconcile net income including noncontrolling interests to net cash provided by operating activities: | |||
| Depreciation and amortization | 795 | 728 | 653 |
| Stock-based compensation | 190 | 181 | 166 |
| Undistributed equity earnings in joint ventures | (42) | (33) | (41) |
| Excess tax benefits on stock-based awards | (10) | (2) | (41) |
| Other non-cash items, net | 2 | 46 | 4 |
| Deferred income taxes | 7 | 70 | 21 |
| Change in receivables, other current assets, deferred membership fees, accrued and other current liabilities | 283 | 142 | 245 |
| Increase in merchandise inventories | (213) | (394) | (192) |
| Increase in accounts payable | 445 | 255 | 96 |
| Net cash provided by operating activities | 2,780 | 2,092 | 2,206 |
| CASH FLOWS FROM INVESTING ACTIVITIES | |||
| Additions to property and equipment, net of $24, $20, and $21 of non-cash capital expenditures for 2010, 2009, and 2008, respectively | (1,055) | (1,250) | (1,599) |
| Proceeds from the sale of property and equipment | 4 | 7 | 48 |
| Purchases of short-term investments | (2,693) | (1,806) | (1,507) |
| Maturities of short-term investments | 1,428 | 1,780 | 1,561 |
| Sales of investments | 309 | 183 | 165 |
| Other investing items, net | (8) | (9) | (14) |
| Investments transferred from cash and cash equivalents | 0 | (6) | (371) |
| Net cash used in investing activities | (2,015) | (1,101) | (1,717) |
| CASH FLOWS FROM FINANCING ACTIVITIES | |||
| Change in bank checks outstanding | 5 | (22) | 49 |
| Repayments of short-term borrowings | (73) | (1,777) | (5,163) |
| Proceeds from short-term borrowings | 81 | 1,669 | 5,250 |
| Proceeds from issuance of long-term debt, net | 0 | 0 | 103 |
| Repayments of long-term debt | (84) | (6) | (69) |
| Cash dividend payments | (338) | (296) | (265) |
| Distribution to noncontrolling interests | 0 | (9) | 0 |
| Excess tax benefits on stock-based awards | 10 | 2 | 41 |
| Proceeds from stock-based awards, net | 193 | 69 | 306 |
| Repurchases of common stock | (551) | (69) | (895) |
| Other financing activities, net | 38 | 0 | 0 |
| Net cash used in financing activities | (719) | (439) | (643) |
| EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | 11 | (14) | (7) |
| Net increase (decrease) in cash and cash equivalents | 57 | 538 | (161) |
| CASH AND CASH EQUIVALENTS BEGINNING OF YEAR | 3,157 | 2,619 | |
| CASH AND CASH EQUIVALENTS END OF YEAR | 3,214 | 3,157 | 2,619 |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | |||
| Interest (reduced by $11, $8, and $16 interest capitalized in 2010, 2009, and 2008, respectively) | 110 | 104 | 106 |
| Income taxes | 637 | 565 | 615 |
| SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING ACTIVITIES: | |||
| Common stock issued upon conversion of 3.5% Zero Coupon Convertible Subordinated Notes | 1 | 19 | 0 |
| Property acquired under capital leases | 90 | 72 | 0 |
| Unsettled repurchases of common stock | 17 | 0 | 12 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
COSTCO WHOLESALE CORP /NEW | ||
Ticker: COST Fiscal Year: 2010 | ||
CONSOLIDATED BALANCE SHEETS | ||
Period Ending Aug 29, 2010 10-K (Filed: Oct 18, 2010) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Aug 29, 2010 | Aug 30, 2009 | |
| ASSETS | ||
| CURRENT ASSETS | ||
| Cash and cash equivalents | $ 3,214 | 3,157 |
| Short-term investments | 1,535 | 570 |
| Receivables, net | 884 | 834 |
| Merchandise inventories | 5,638 | 5,405 |
| Deferred income taxes and other current assets | 437 | 371 |
| Total current assets | 11,708 | 10,337 |
| PROPERTY AND EQUIPMENT | ||
| Land | 3,484 | 3,341 |
| Buildings and improvements | 9,096 | 8,453 |
| Equipment and fixtures | 3,513 | 3,265 |
| Construction in progress | 267 | 264 |
| Gross property, plant and equipment | 16,360 | 15,323 |
| Less accumulated depreciation and amortization | (5,046) | (4,423) |
| Net property and equipment | 11,314 | 10,900 |
| OTHER ASSETS | 793 | 742 |
| TOTAL ASSETS | 23,815 | 21,979 |
| LIABILITIES AND EQUITY | ||
| CURRENT LIABILITIES | ||
| Short-term borrowings | 26 | 16 |
| Accounts payable | 5,947 | 5,450 |
| Accrued salaries and benefits | 1,571 | 1,418 |
| Accrued sales and other taxes | 322 | 302 |
| Deferred membership fees | 869 | 824 |
| Current portion of long-term debt | 0 | 80 |
| Other current liabilities | 1,328 | 1,191 |
| Total current liabilities | 10,063 | 9,281 |
| LONG-TERM DEBT, excluding current portion | 2,141 | 2,130 |
| DEFERRED INCOME TAXES AND OTHER LIABILITIES | 681 | 464 |
| Total liabilities | 12,885 | 11,875 |
| COMMITMENTS AND CONTINGENCIES | ||
| EQUITY | ||
| Preferred stock $.005 par value; 100,000,000 shares authorized; no shares issued and outstanding | 0 | 0 |
| Common stock $.005 par value; 900,000,000 shares authorized; 433,510,000 and 435,974,000 shares issued and outstanding | 2 | 2 |
| Additional paid-in capital | 4,115 | 3,811 |
| Accumulated other comprehensive income | 122 | 110 |
| Retained earnings | 6,590 | 6,101 |
| Total Costco stockholders' equity | 10,829 | 10,024 |
| Noncontrolling interests | 101 | 80 |
| Total equity | 10,930 | 10,104 |
| TOTAL LIABILITIES AND EQUITY | 23,815 | 21,979 |
| External Links | |
| COSTCO WHOLESALE CORP /NEW (COST) Fiscal Year 2010 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |