Costco 2005 Annual Report Download - page 37

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COSTCO WHOLESALE CORPORATION
CONSOLIDATED BALANCE SHEETS
(dollars in thousands, except par value)
August 28,
2005
August 29,
2004
ASSETS
CURRENT ASSETS
Cash and cash equivalents .......................................... $ 2,062,585 $ 2,823,135
Short-term investments ............................................ 1,397,272 306,747
Receivables, net .................................................. 399,974 335,175
Merchandise inventories ........................................... 4,014,699 3,643,585
Other current assets ............................................... 211,908 160,457
Total current assets ........................................... 8,086,438 7,269,099
PROPERTY AND EQUIPMENT
Land........................................................... 2,502,247 2,269,543
Buildings, leaseholds and land improvements .......................... 5,622,439 5,164,658
Equipment and fixtures ............................................ 2,181,740 1,974,995
Construction in progress ........................................... 180,604 132,180
10,487,030 9,541,376
Less accumulated depreciation and amortization ........................ (2,696,838) (2,321,547)
Net property and equipment .................................... 7,790,192 7,219,829
OTHER ASSETS .................................................... 637,012 603,620
$16,513,642 $15,092,548
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES
Short-term borrowings ............................................ $ 54,356 $ 21,595
Accounts payable ................................................ 4,213,724 3,600,200
Accrued salaries and benefits ....................................... 1,025,181 904,209
Accrued sales and other taxes ....................................... 263,899 223,009
Deferred membership income ....................................... 500,558 453,881
Current portion long-term debt ...................................... 3,225 305,594
Other current liabilities ............................................ 548,031 662,062
Total current liabilities ........................................ 6,608,974 6,170,550
LONG-TERM DEBT, excluding current portion ......................... 710,675 993,746
DEFERRED INCOME TAXES AND OTHER LIABILITIES .............. 254,270 244,176
Total liabilities .............................................. 7,573,919 7,408,472
COMMITMENTS AND CONTINGENCIES
MINORITY INTEREST ............................................. 58,614 59,266
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; 472,480,000
and 462,637,000 shares issued and outstanding ....................... 2,362 2,313
Additional paid-in capital .......................................... 2,096,554 1,466,366
Other accumulated comprehensive income ............................ 158,039 16,144
Retained earnings ................................................ 6,624,154 6,139,987
Total stockholders’ equity ...................................... 8,881,109 7,624,810
$16,513,642 $15,092,548
The accompanying notes are an integral part of these consolidated financial statements.
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