Costco 2003 Annual Report Download - page 27

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COSTCO WHOLESALE CORPORATION
CONSOLIDATED BALANCE SHEETS
(dollars in thousands except par value)
August 31,
2003
September 1,
2002
ASSETS
CURRENT ASSETS
Cash and cash equivalents .......................................... $ 1,545,439 $ 805,518
Receivables, net .................................................. 556,090 474,861
Merchandise inventories ........................................... 3,339,428 3,127,221
Other current assets ............................................... 270,581 222,939
Total current assets ........................................... 5,711,538 4,630,539
PROPERTY AND EQUIPMENT
Land ........................................................... 2,173,685 2,017,184
Buildings, leaseholds and land improvements .......................... 4,831,236 4,367,395
Equipment and fixtures ............................................ 1,846,324 1,733,979
Construction in progress ........................................... 154,181 198,744
9,005,426 8,317,302
Less accumulated depreciation and amortization ........................ (2,045,418) (1,793,683)
Net property and equipment .................................... 6,960,008 6,523,619
OTHER ASSETS .................................................... 520,142 466,105
$13,191,688 $11,620,263
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES
Short-term borrowings ............................................ $ 47,421 $ 103,774
Accounts payable ................................................ 3,131,320 2,884,269
Accrued salaries and benefits ....................................... 734,261 589,927
Accrued sales and other taxes ....................................... 207,392 163,273
Deferred membership income ....................................... 401,357 360,515
Other current liabilities ............................................ 489,356 347,975
Total current liabilities ........................................ 5,011,107 4,449,733
LONG-TERM DEBT ................................................ 1,289,649 1,210,638
DEFERRED INCOME TAXES AND OTHER LIABILITIES .............. 209,835 145,925
Total liabilities .............................................. 6,510,591 5,806,296
COMMITMENTS AND CONTINGENCIES
MINORITY INTEREST ............................................. 126,117 119,730
STOCKHOLDERS’ EQUITY
Preferred stock $.005 par value; 100,000,000 shares authorized; no shares
issued and outstanding .......................................... — —
Common stock $.005 par value; 900,000,000 shares authorized; 457,479,000
and 455,325,000 shares issued and outstanding ....................... 2,287 2,277
Additional paid-in capital .......................................... 1,280,942 1,220,954
Other accumulated comprehensive loss ............................... (77,980) (157,725)
Retained earnings ................................................ 5,349,731 4,628,731
Total stockholders’ equity ...................................... 6,554,980 5,694,237
$13,191,688 $11,620,263
The accompanying notes are an integral part of these consolidated financial statements.
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