Costco 2008 Annual Report Download - page 51

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COSTCO WHOLESALE CORPORATION
CONSOLIDATED BALANCE SHEETS
(dollars in thousands, except par value)
August 31,
2008
September 2,
2007
ASSETS
CURRENT ASSETS
Cash and cash equivalents ................................. $ 2,619,429 $ 2,779,733
Short-term investments .................................... 655,584 575,787
Receivables, net .......................................... 747,968 762,017
Merchandise inventories ................................... 5,039,413 4,879,465
Deferred income taxes and other current assets ................ 399,651 327,151
Total current assets .................................... 9,462,045 9,324,153
PROPERTY AND EQUIPMENT
Land .................................................... 3,216,876 3,009,514
Buildings, leasehold and land improvements ................... 7,749,153 7,035,672
Equipment and fixtures ..................................... 3,057,316 2,747,243
Construction in progress ................................... 305,877 276,087
14,329,222 13,068,516
Less accumulated depreciation and amortization ............... (3,974,226) (3,548,736)
Net property and equipment ............................. 10,354,996 9,519,780
OTHER ASSETS ............................................. 865,307 762,653
$20,682,348 $19,606,586
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES
Short-term borrowings ..................................... $ 134,409 $ 53,832
Accounts payable ......................................... 5,224,753 5,124,990
Accrued salaries and benefits ............................... 1,320,715 1,226,666
Accrued sales and other taxes .............................. 283,048 267,920
Deferred membership fees .................................. 748,438 692,176
Current portion of long-term debt ............................. 6,003 59,905
Other current liabilities ..................................... 1,156,799 1,156,264
Total current liabilities .................................. 8,874,165 8,581,753
LONG-TERM DEBT, excluding current portion ................... 2,205,952 2,107,978
DEFERRED INCOME TAXES AND OTHER LIABILITIES ........... 328,313 224,197
Total liabilities ........................................ 11,408,430 10,913,928
COMMITMENTS AND CONTINGENCIES
MINORITY INTEREST ......................................... 81,857 69,317
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;
432,513,000 and 437,013,000 shares issued and outstanding . . 2,163 2,185
Additional paid-in capital .................................... 3,543,383 3,118,224
Accumulated other comprehensive income .................... 285,661 370,589
Retained earnings ......................................... 5,360,854 5,132,343
Total stockholders’ equity ............................... 9,192,061 8,623,341
$20,682,348 $19,606,586
The accompanying notes are an integral part of these consolidated financial statements.
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