Costco 1998 Annual Report Download - page 19

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MERRILL CORPORATION NETWORK COMPOSITION SYSTEM LSTARKE // 10-DEC-98 13:05 DISK004:[98SEA7.98SEA2097]DO2097B.;10
IMAGES:[PAGER.PSTYLES]MRLL.BST;4 pag$fmt:mrll.fmt Free: 225DM/ 0D Foot: 0D/ 0D VJ R Seq: 2 Clr: 0
COSTCO COMPANIES A/R (Y/E 8-31-98) Proj: P1826SEA98 Job: 98SEA2097 File: DO2097B.;10
Merrill/Seattle (206) 623-5606 Page Dim: 8.250N X 10.750NCopy Dim: 38. X 54.3
COSTCO COMPANIES, INC.
CONSOLIDATED BALANCE SHEETS
(dollars in thousands except par value)
ASSETS
August 30, August 31,
1998 1997
CURRENT ASSETS
Cash and cash equivalents .................................... $ 361,974 $ 175,508
Short-term investments ...................................... 75,549 —
Receivables, net ........................................... 171,613 147,133
Merchandise inventories, net .................................. 1,910,751 1,686,525
Other current assets ........................................ 108,343 100,784
Total current assets ......................................... 2,628,230 2,109,950
PROPERTY AND EQUIPMENT
Land and land rights ........................................ 1,119,663 1,094,607
Buildings and leasehold and land improvements .................... 2,170,896 1,933,740
Equipment and fixtures ...................................... 948,515 840,578
Construction in progress ..................................... 91,901 81,417
4,330,975 3,950,342
Less-accumulated depreciation and amortization .................... (935,603) (795,708)
Net property and equipment .................................. 3,395,372 3,154,634
OTHER ASSETS ............................................ 236,218 211,730
$6,259,820 $5,476,314
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES
Short-term borrowings ....................................... $ — $ 25,460
Accounts payable .......................................... 1,605,533 1,394,309
Accrued salaries and benefits .................................. 352,903 302,681
Accrued sales and other taxes ................................. 102,367 90,774
Other current liabilities ...................................... 136,139 150,823
Total current liabilities ....................................... 2,196,942 1,964,047
LONG-TERM DEBT 930,035 917,001
DEFERRED INCOME TAXES AND OTHER LIABILITIES 61,483 38,967
Total liabilities ........................................... 3,188,460 2,920,015
COMMITMENTS AND CONTINGENCIES MINORITY INTEREST ..... 105,474 88,183
STOCKHOLDERS’ EQUITY
Preferred stock $.01 par value; 100,000,000 shares authorized; no shares
issued and outstanding ..................................... — —
Common stock $.01 par value; 900,000,000 shares authorized; 217,589,000
and 213,593,000 shares issued and outstanding .................... 2,176 2,136
Additional paid-in capital ..................................... 817,628 706,324
Accumulated foreign currency translation ......................... (151,842) (78,426)
Retained earnings .......................................... 2,297,924 1,838,082
Total stockholders’ equity ................................... 2,965,886 2,468,116
$6,259,820 $5,476,314
The accompanying notes are an integral part of these balance sheets.
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9 C Cs: 48405