Costco 2008 Annual Report Download - page 67

Download and view the complete annual report

Please find page 67 of the 2008 Costco annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 92

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92

Note 3—Debt
Bank Credit Facilities and Commercial Paper Programs (all amounts stated in U.S. dollars)
Entity
Credit Facility
Description
Expiration
Date
Total of
all Credit
Facilities
Credit Line Usage at August 31, 2008
Available
Credit
Applicable
Interest
Rate
Stand-by
LC &
Letter of
Guaranty
Commercial
Letter of
Credit
Short
Term
Borrowing
U.S. .............. Uncommitted
Stand By
Letter of
Credit
N/A $ 25,323 $25,323 $ — $ — $ — N/A
U.S. .............. Uncommitted
Commercial
Letter of
Credit
N/A 160,000 — 45,463 — 114,537 N/A
Australia(1) ........ Guarantee
Line
N/A 8,622 2,656 — — 5,966 N/A
Canada(1,3) ....... Multi-Purpose
Line
March-09 142,207 19,590 — 85,296 37,321 3.43%
Japan(1) .......... Revolving
Credit
February-09 32,187 — — 4,139 28,048 1.00%
Japan(1) .......... Bank
Guaranty
February-09 9,196 9,196 — — — N/A
Japan(1) .......... Revolving
Credit
February-09 32,187 — — 14,254 17,933 1.04%
Korea(1) ........... Multi-Purpose
Line
March-09 11,021 1,460 694 — 8,867 6.53%
Taiwan ............ Multi-Purpose
Line
January-09 15,853 4,772 2 — 11,079 4.50%
Taiwan ............ Multi-Purpose
Line
July-09 15,853 1,934 — — 13,919 4.59%
United Kingdom .... Revolving
Credit
February-10 73,144 — — — 73,144 5.67%
United Kingdom .... Uncommitted
Money
Market
May-09 36,572 — — 30,720 5,852 5.36%
United Kingdom .... Overdraft
Line
May-09 64,001 — — — 64,001 6.00%
United Kingdom(2) . . Letter of
Guarantee
N/A 3,651 3,651 — — — N/A
United Kingdom .... Commercial
Letter of
Credit
N/A 3,657 238 1,081 — 2,338 N/A
TOTAL ................. $633,474 $68,820 $47,240 $134,409 $383,005
(1) This entity’s credit facility is guaranteed by the U.S. Parent company, Costco Wholesale Corporation.
(2) The letter of guarantee is fully cash collateralized by the United Kingdom subsidiary.
(3) The amount shown for short-term borrowings under this facility is net of a note issue discount, which is excluded from the
available credit amount.
Note: The Company has letter of credit facilities (for commercial and standby letters of credit) totaling
$238,899. The outstanding commitments under these facilities at August 31, 2008 totaled $116,060,
including $68,820 in standby letters of credit. For those entities with multi-purpose lines, any increase in
either letters of credit (standby and/or commercial) issuance and or short-term borrowing will result in a
corresponding decrease in available credit.
65