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: 2011 | |||
Consolidated Statements Of Income | |||
Period Ending Aug 28, 2011 10-K (Filed: Oct 14, 2011) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Aug 28, 2011 | Aug 29, 2010 | Aug 30, 2009 | |
| REVENUE | |||
| Net sales | $ 87,048 | 76,255 | 69,889 |
| Membership fees | 1,867 | 1,691 | 1,533 |
| Total revenue | 88,915 | 77,946 | 71,422 |
| OPERATING EXPENSES | |||
| Merchandise costs | 77,739 | 67,995 | 62,335 |
| Selling, general and administrative | 8,682 | 7,840 | 7,252 |
| Preopening expenses | 46 | 26 | 41 |
| Provision for impaired assets and closing costs, net | 9 | 8 | 17 |
| Operating income | 2,439 | 2,077 | 1,777 |
| OTHER INCOME (EXPENSE) | |||
| Interest expense | (116) | (111) | (108) |
| Interest income and other, net | 60 | 88 | 58 |
| INCOME BEFORE INCOME TAXES | 2,383 | 2,054 | 1,727 |
| Provision for income taxes | 841 | 731 | 628 |
| Net income including noncontrolling interests | 1,542 | 1,323 | 1,099 |
| Net income attributable to noncontrolling interests | (80) | (20) | (13) |
| NET INCOME ATTRIBUTABLE TO COSTCO | 1,462 | 1,303 | 1,086 |
| NET INCOME PER COMMON SHARE ATTRIBUTABLE TO COSTCO: | |||
| Basic | 3.35 | 2.97 | 2.50 |
| Diluted | 3.30 | 2.92 | 2.47 |
| Shares used in calculation (000's) | |||
| Basic | 436,119 | 438,611 | 433,988 |
| Diluted | 443,094 | 445,970 | 440,454 |
| Dividends per share | 0.89 | 0.77 | 0.68 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
COSTCO WHOLESALE CORP /NEW | |||
Ticker: COST Fiscal Year: 2011 | |||
Consolidated Statements Of Cash Flows | |||
Period Ending Aug 28, 2011 10-K (Filed: Oct 14, 2011) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Aug 28, 2011 | Aug 29, 2010 | Aug 30, 2009 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | |||
| Net income including noncontrolling interests | $ 1,542 | 1,323 | 1,099 |
| Adjustments to reconcile net income including noncontrolling interests to net cash provided by operating activities: | |||
| Depreciation and amortization | 855 | 795 | 728 |
| Stock-based compensation | 207 | 190 | 181 |
| Undistributed equity earnings in joint ventures | (1) | (42) | (33) |
| Excess tax benefits on stock-based awards | (45) | (10) | (2) |
| Other non-cash operating activities, net | 24 | 2 | 46 |
| Deferred income tax expense | 84 | 7 | 70 |
| Changes in operating assets and liabilities, net of the initial consolidation of Costco Mexico at the beginning of fiscal 2011: | |||
| Increase in merchandise inventories | (642) | (213) | (394) |
| Increase in accounts payable | 804 | 445 | 255 |
| Other operating assets and liabilities, net | 370 | 283 | 142 |
| Net cash provided by operating activities | 3,198 | 2,780 | 2,092 |
| CASH FLOWS FROM INVESTING ACTIVITIES | |||
| Additions to property and equipment | (1,290) | (1,055) | (1,250) |
| Increase resulting from initial consolidation of Costco Mexico | 165 | 0 | 0 |
| Proceeds from the sale of property and equipment | 16 | 4 | 7 |
| Purchases of short-term investments | (3,276) | (2,693) | (1,806) |
| Maturities of short-term investments | 2,614 | 1,428 | 1,780 |
| Sales of investments | 602 | 309 | 183 |
| Other investing activities, net | (11) | (8) | (15) |
| Net cash used in investing activities | (1,180) | (2,015) | (1,101) |
| CASH FLOWS FROM FINANCING ACTIVITIES | |||
| Change in bank checks outstanding | (514) | 5 | (22) |
| Repayments of short-term borrowings | (105) | (73) | (1,777) |
| Proceeds from short-term borrowings | 79 | 81 | 1,669 |
| Repayments of long-term debt | 0 | (84) | (6) |
| Cash dividend payments | (389) | (338) | (296) |
| Investment by (distribution to) noncontrolling interests | 9 | 0 | (9) |
| Excess tax benefits on stock-based awards | 45 | 10 | 2 |
| Proceeds from stock-based awards, net of minimum tax withholdings | 224 | 193 | 69 |
| Repurchases of common stock | (624) | (551) | (69) |
| Other financing activities, net | (2) | 38 | 0 |
| Net cash used in financing activities | (1,277) | (719) | (439) |
| EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | 54 | 11 | (14) |
| Net increase in cash and cash equivalents | 795 | 57 | 538 |
| CASH AND CASH EQUIVALENTS BEGINNING OF YEAR | 3,214 | 3,157 | |
| CASH AND CASH EQUIVALENTS END OF YEAR | 4,009 | 3,214 | 3,157 |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | |||
| Interest (reduced by $9, $11, and $8 interest capitalized in 2011, 2010, and 2009, respectively) | 111 | 110 | 104 |
| Income taxes | 742 | 637 | 565 |
| SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES: | |||
| (Decrease) Increase in accrued property and equipment | (10) | 24 | 20 |
| Common stock issued upon conversion of 3.5% Zero Coupon Convertible Subordinated Notes | 2 | 1 | 19 |
| Property acquired under capital leases | 0 | 90 | 72 |
| Unsettled repurchases of common stock | 17 | 17 | 0 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
COSTCO WHOLESALE CORP /NEW | ||
Ticker: COST Fiscal Year: 2011 | ||
Consolidated Balance Sheets | ||
Period Ending Aug 28, 2011 10-K (Filed: Oct 14, 2011) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Aug 28, 2011 | Aug 29, 2010 | |
| ASSETS | ||
| CURRENT ASSETS | ||
| Cash and cash equivalents | $ 4,009 | 3,214 |
| Short-term investments | 1,604 | 1,535 |
| Receivables, net | 965 | 884 |
| Merchandise inventories | 6,638 | 5,638 |
| Deferred income taxes and other current assets | 490 | 437 |
| Total current assets | 13,706 | 11,708 |
| PROPERTY AND EQUIPMENT | ||
| Land | 3,819 | 3,484 |
| Buildings and improvements | 10,278 | 9,096 |
| Equipment and fixtures | 4,002 | 3,513 |
| Construction in progress | 269 | 267 |
| Gross property, plant and equipment | 18,368 | 16,360 |
| Less accumulated depreciation and amortization | (5,936) | (5,046) |
| Net property and equipment | 12,432 | 11,314 |
| OTHER ASSETS | 623 | 793 |
| TOTAL ASSETS | 26,761 | 23,815 |
| LIABILITIES AND EQUITY | ||
| CURRENT LIABILITIES | ||
| Short-term borrowings | 0 | 26 |
| Accounts payable | 6,544 | 5,947 |
| Current portion of long-term debt | 900 | 0 |
| Accrued salaries and benefits | 1,758 | 1,571 |
| Accrued sales and other taxes | 335 | 322 |
| Other current liabilities | 1,540 | 1,328 |
| Deferred membership fees | 973 | 869 |
| Total current liabilities | 12,050 | 10,063 |
| LONG-TERM DEBT, excluding current portion | 1,253 | 2,141 |
| DEFERRED INCOME TAXES AND OTHER LIABILITIES | 885 | 681 |
| Total liabilities | 14,188 | 12,885 |
| 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 434,266,000 and 433,510,000 shares issued and outstanding | 2 | 2 |
| Additional paid-in capital | 4,516 | 4,115 |
| Accumulated other comprehensive income | 373 | 122 |
| Retained earnings | 7,111 | 6,590 |
| Total Costco stockholders' equity | 12,002 | 10,829 |
| Noncontrolling interests | 571 | 101 |
| Total equity | 12,573 | 10,930 |
| TOTAL LIABILITIES AND EQUITY | 26,761 | 23,815 |
| External Links | |
| COSTCO WHOLESALE CORP /NEW (COST) Fiscal Year 2011 | |
| 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 |