Costco 2007 Annual Report Download - page 48

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COSTCO WHOLESALE CORPORATION
CONSOLIDATED BALANCE SHEETS
(amounts in thousands, except par value)
September 2,
2007
September 3,
2006
ASSETS
CURRENT ASSETS
Cash and cash equivalents ............................... $ 2,779,733 $ 1,510,939
Short-term investments .................................. 575,787 1,322,181
Receivables, net ....................................... 762,017 565,373
Merchandise inventories ................................. 4,879,465 4,561,232
Deferred income taxes and other current assets ............. 327,151 272,357
Total current assets ................................. 9,324,153 8,232,082
PROPERTY AND EQUIPMENT
Land ................................................. 3,009,514 2,747,396
Buildings, leasehold and land improvements ................ 7,035,672 6,241,357
Equipment and fixtures .................................. 2,747,243 2,405,229
Construction in progress ................................. 276,087 248,454
13,068,516 11,642,436
Less accumulated depreciation and amortization ............. (3,548,736) (3,078,141)
Net property and equipment .......................... 9,519,780 8,564,295
OTHER ASSETS .......................................... 762,653 698,693
$19,606,586 $17,495,070
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES
Short-term borrowings ................................... $ 53,832 $ 41,385
Accounts payable ...................................... 5,124,990 4,581,395
Accrued salaries and benefits ............................. 1,226,666 1,080,382
Accrued sales and other taxes ............................ 267,920 324,274
Deferred membership fees ............................... 692,176 583,946
Current portion of long-term debt .......................... 59,905 308,523
Other current liabilities .................................. 1,156,264 899,286
Total current liabilities ............................... 8,581,753 7,819,191
LONG-TERM DEBT, excluding current portion ................ 2,107,978 215,369
DEFERRED INCOME TAXES AND OTHER LIABILITIES ......... 224,197 253,713
Total liabilities ...................................... 10,913,928 8,288,273
COMMITMENTS AND CONTINGENCIES
MINORITY INTEREST ...................................... 69,317 63,358
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;
437,013,000 and 462,279,000 shares issued and
outstanding .......................................... 2,185 2,312
Additional paid-in capital ................................. 3,118,224 2,822,652
Accumulated other comprehensive income .................. 370,589 277,263
Retained earnings ...................................... 5,132,343 6,041,212
Total stockholders’ equity ............................ 8,623,341 9,143,439
$19,606,586 $17,495,070
The accompanying notes are an integral part of these consolidated financial statements.
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