Costco 1999 Annual Report Download - page 19

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COSTCO WHOLESALE CORPORATION
CONSOLIDATED BALANCE SHEETS
(dollars in thousands except par value)
ASSETS
August 29, August 30,
1999 1998
CURRENT ASSETS
Cash and cash equivalents .................................... $ 440,586 $ 361,974
Short-term investments ...................................... 256,688 75,549
Receivables, net ........................................... 168,648 171,613
Merchandise inventories, net .................................. 2,210,475 1,910,751
Other current assets ........................................ 239,516 108,343
Total current assets ....................................... 3,315,913 2,628,230
PROPERTY AND EQUIPMENT
Land and land rights ........................................ 1,264,125 1,119,663
Buildings and leasehold and land improvements .................... 2,444,640 2,170,896
Equipment and fixtures ...................................... 1,138,568 948,515
Construction in progress ..................................... 176,824 91,901
5,024,157 4,330,975
Less-accumulated depreciation and amortization .................... (1,117,269) (935,603)
Net property and equipment ................................. 3,906,888 3,395,372
OTHER ASSETS ............................................ 282,200 236,218
$7,505,001 $6,259,820
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES
Accounts payable .......................................... $1,912,632 $1,605,533
Accrued salaries and benefits .................................. 414,276 352,903
Accrued sales and other taxes ................................. 122,932 102,367
Deferred membership income ................................. 225,903 —
Other current liabilities ...................................... 190,490 136,139
Total current liabilities ..................................... 2,866,233 2,196,942
LONG-TERM DEBT ......................................... 918,888 930,035
DEFERRED INCOME TAXES AND OTHER LIABILITIES ........... 66,990 61,483
Total liabilities ........................................... 3,852,111 3,188,460
COMMITMENTS AND CONTINGENCIES
MINORITY INTEREST ...................................... 120,780 105,474
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; 221,368,000
and 217,589,000 shares issued and outstanding .................... 2,214 2,176
Additional paid-in capital ..................................... 952,758 817,628
Other accumulated comprehensive loss ........................... (118,084) (151,842)
Retained earnings .......................................... 2,695,222 2,297,924
Total stockholders’ equity ................................... 3,532,110 2,965,886
$7,505,001 $6,259,820
The accompanying notes are an integral part of these balance sheets.
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