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: 2012 | |||
Consolidated Statements of Income | |||
Period Ending Sept 2, 2012 10-K (Filed: Oct 19, 2012) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Sept 2, 2012 | Aug 28, 2011 | Aug 29, 2010 | |
| REVENUE | |||
| Net sales | $ 97,062 | 87,048 | 76,255 |
| Membership fees | 2,075 | 1,867 | 1,691 |
| Total revenue | 99,137 | 88,915 | 77,946 |
| OPERATING EXPENSES | |||
| Merchandise costs | 86,823 | 77,739 | 67,995 |
| Selling, general and administrative | 9,518 | 8,691 | 7,848 |
| Preopening expenses | 37 | 46 | 26 |
| Operating income | 2,759 | 2,439 | 2,077 |
| OTHER INCOME (EXPENSE) | |||
| Interest expense | (95) | (116) | (111) |
| Interest income and other, net | 103 | 60 | 88 |
| INCOME BEFORE INCOME TAXES | 2,767 | 2,383 | 2,054 |
| Provision for income taxes | 1,000 | 841 | 731 |
| Net income including noncontrolling interests | 1,767 | 1,542 | 1,323 |
| Net income attributable to noncontrolling interests | (58) | (80) | (20) |
| NET INCOME ATTRIBUTABLE TO COSTCO | 1,709 | 1,462 | 1,303 |
| NET INCOME PER COMMON SHARE ATTRIBUTABLE TO COSTCO: | |||
| Basic | 3.94 | 3.35 | 2.97 |
| Diluted | 3.89 | 3.30 | 2.92 |
| Shares used in calculation (000's) | |||
| Basic | 433,620 | 436,119 | 438,611 |
| Diluted | 439,373 | 443,094 | 445,970 |
| CASH DIVIDENDS DECLARED PER COMMON SHARE | 1.03 | 0.89 | 0.77 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
COSTCO WHOLESALE CORP /NEW | |||
Ticker: COST Fiscal Year: 2012 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Sept 2, 2012 10-K (Filed: Oct 19, 2012) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Sept 2, 2012 | Aug 28, 2011 | Aug 29, 2010 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | |||
| Net income including noncontrolling interests | $ 1,767 | 1,542 | 1,323 |
| Adjustments to reconcile net income including noncontrolling interests to net cash provided by operating activities: | |||
| Depreciation and amortization | 908 | 855 | 795 |
| Stock-based compensation | 241 | 207 | 190 |
| Excess tax benefits on stock-based awards | (64) | (45) | (10) |
| Other non-cash operating activities, net | 28 | 23 | (40) |
| Deferred income taxes | (3) | 84 | 7 |
| Changes in operating assets and liabilities, net of the initial consolidation of Costco Mexico at the beginning of fiscal 2011: | |||
| Increase in merchandise inventories | (490) | (642) | (213) |
| Increase in accounts payable | 338 | 804 | 445 |
| Other operating assets and liabilities, net | 332 | 370 | 283 |
| Net cash provided by operating activities | 3,057 | 3,198 | 2,780 |
| CASH FLOWS FROM INVESTING ACTIVITIES | |||
| Purchases of short-term investments | (2,048) | (3,276) | (2,693) |
| Maturities of short-term investments | 1,821 | 2,614 | 1,428 |
| Sales of investments | 482 | 602 | 309 |
| Additions to property and equipment | (1,480) | (1,290) | (1,055) |
| Proceeds from the sale of property and equipment | 11 | 16 | 4 |
| Increase resulting from initial consolidation of Costco Mexico | 0 | 165 | 0 |
| Other investing activities, net | (22) | (11) | (8) |
| Net cash used in investing activities | (1,236) | (1,180) | (2,015) |
| CASH FLOWS FROM FINANCING ACTIVITIES | |||
| Change in bank checks outstanding | 457 | (514) | 5 |
| Repayments of short-term borrowings | (114) | (105) | (73) |
| Proceeds from short-term borrowings | 114 | 79 | 81 |
| Proceeds from issuance of long-term debt | 130 | 0 | 0 |
| Repayments of long-term debt | (900) | 0 | (84) |
| Investment by (distribution to) noncontrolling interests | (161) | 9 | 0 |
| Proceeds from exercise of stock options | 109 | 285 | 235 |
| Minimum tax withholdings on stock-based awards | (107) | (61) | (42) |
| Excess tax benefits on stock-based awards | 64 | 45 | 10 |
| Repurchases of common stock | (632) | (624) | (551) |
| Cash dividend payments | (446) | (389) | (338) |
| Purchase of noncontrolling interest in Costco Mexico | (789) | 0 | 0 |
| Other financing activities, net | (6) | (2) | 38 |
| Net cash used in financing activities | (2,281) | (1,277) | (719) |
| EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | (21) | 54 | 11 |
| Net increase (decrease) in cash and cash equivalents | (481) | 795 | 57 |
| CASH AND CASH EQUIVALENTS BEGINNING OF YEAR | 4,009 | 3,214 | |
| CASH AND CASH EQUIVALENTS END OF YEAR | 3,528 | 4,009 | 3,214 |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | |||
| Cash paid during the year for: | |||
| Interest (reduced by $10, $9, and $11 interest capitalized in 2012, 2011, and 2010, respectively) | 112 | 111 | 110 |
| Income taxes | 956 | 742 | 637 |
| SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES: | |||
| (Decrease)/increase in accrued property and equipment | (29) | (10) | 24 |
| Property acquired under capital leases | 18 | 0 | 90 |
| Unsettled repurchases of common stock | 2 | 17 | 17 |
| Distribution declared but not paid to noncontrolling interest | 22 | 0 | 0 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
COSTCO WHOLESALE CORP /NEW | ||
Ticker: COST Fiscal Year: 2012 | ||
Consolidated Balance Sheets | ||
Period Ending Sept 2, 2012 10-K (Filed: Oct 19, 2012) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Sept 2, 2012 | Aug 28, 2011 | |
| ASSETS | ||
| CURRENT ASSETS | ||
| Cash and cash equivalents | $ 3,528 | 4,009 |
| Short-term investments | 1,326 | 1,604 |
| Receivables, net | 1,026 | 965 |
| Merchandise inventories | 7,096 | 6,638 |
| Deferred income taxes and other current assets | 550 | 490 |
| Total current assets | 13,526 | 13,706 |
| PROPERTY AND EQUIPMENT | ||
| Land | 4,032 | 3,819 |
| Buildings and improvements | 10,879 | 10,278 |
| Equipment and fixtures | 4,261 | 4,002 |
| Construction in progress | 374 | 269 |
| Gross property, plant and equipment | 19,546 | 18,368 |
| Less accumulated depreciation and amortization | (6,585) | (5,936) |
| Net property and equipment | 12,961 | 12,432 |
| OTHER ASSETS | 653 | 623 |
| TOTAL ASSETS | 27,140 | 26,761 |
| LIABILITIES AND EQUITY | ||
| CURRENT LIABILITIES | ||
| Accounts payable | 7,303 | 6,544 |
| Current portion of long-term debt | 1 | 900 |
| Accrued salaries and benefits | 1,832 | 1,758 |
| Accrued member rewards | 661 | 602 |
| Accrued sales and other taxes | 397 | 335 |
| Other current liabilities | 965 | 938 |
| Deferred membership fees | 1,101 | 973 |
| Total current liabilities | 12,260 | 12,050 |
| LONG-TERM DEBT, excluding current portion | 1,381 | 1,253 |
| DEFERRED INCOME TAXES AND OTHER LIABILITIES | 981 | 885 |
| Total liabilities | 14,622 | 14,188 |
| 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; 432,350,000 and 434,266,000 shares issued and outstanding | 2 | 2 |
| Additional paid-in capital | 4,369 | 4,516 |
| Accumulated Other Comprehensive Income | 156 | 373 |
| Retained earnings | 7,834 | 7,111 |
| Total Costco stockholders' equity | 12,361 | 12,002 |
| Noncontrolling interests | 157 | 571 |
| Total equity | 12,518 | 12,573 |
| TOTAL LIABILITIES AND EQUITY | 27,140 | 26,761 |
| External Links | |
| COSTCO WHOLESALE CORP /NEW (COST) Fiscal Year 2012 | |
| 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 |