Costco 2009 Annual Report Download - page 91

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52 Weeks Ended August 31, 2008
First
Quarter
12 Weeks
Second
Quarter
12 Weeks
Third
Quarter
12 Weeks
Fourth
Quarter
16 Weeks
Total
52 Weeks
REVENUE
Net sales ............................. $ 15,472 $ 16,616 $ 16,263 $ 22,626 $ 70,977
Membership fees ....................... 338 343 351 474 1,506
Total revenue ...................... 15,810 16,959 16,614 23,100 72,483
OPERATING EXPENSES
Merchandise costs ..................... 13,824 14,833 14,548 20,298(b) 63,503
Selling, general and administrative ........ 1,570 1,615 1,582 2,187 6,954
Preopening expenses ................... 21 10 9 17 57
Provision for impaired assets and closing
costs, net ........................... — (3) 9 (6) —
Operating income .................. 395 504 466 604 1,969
OTHER INCOME (EXPENSE)
Interest expense ....................... (23) (23) (25) (32) (103)
Interest income and other ................ 33 41 24 35 133
INCOME BEFORE INCOME TAXES .......... 405 522 465 607 1,999
Provision for income taxes ............... 143 194 170 209 716
NET INCOME ............................. $ 262 328 295 $ 398 $ 1,283
NET INCOME PER COMMON SHARE:
Basic ................................. $ 0.60 $ 0.75 $ 0.68 $ 0.92 $ 2.95
Diluted ............................... $ 0.59 $ 0.74 $ 0.67 $ 0.90 $ 2.89
Shares used in calculation (000’s)
Basic ................................. 435,090 434,779 433,678 434,282 434,442
Diluted ............................... 445,717 444,925 443,281 443,874 444,240
Dividends per share ........................ $ 0.145 $ 0.145 $ 0.160 $ 0.160 $ 0.61
(b) Includes a $32 increase to merchandise costs for a LIFO inventory adjustment (See Note 1—Merchandise
Inventories).
Note 14—Subsequent Events
The Company evaluated subsequent events and transactions for potential recognition or disclosure in
the financial statements through October 16, 2009, the day the consolidated financial statements were
issued.
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