Costco 2010 Annual Report Download - page 48

Download and view the complete annual report

Please find page 48 of the 2010 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 88

  • 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

COSTCO WHOLESALE CORPORATION
CONSOLIDATED BALANCE SHEETS
(dollars in millions, except par value and share data)
August 29,
2010
August 30,
2009
ASSETS
CURRENT ASSETS
Cash and cash equivalents ...................................... $ 3,214 $ 3,157
Short-term investments ......................................... 1,535 570
Receivables, net ............................................... 884 834
Merchandise inventories ........................................ 5,638 5,405
Deferred income taxes and other current assets ..................... 437 371
Total current assets ........................................ 11,708 10,337
PROPERTY AND EQUIPMENT
Land ........................................................ 3,484 3,341
Buildings and improvements ..................................... 9,096 8,453
Equipment and fixtures ......................................... 3,513 3,265
Construction in progress ........................................ 267 264
16,360 15,323
Less accumulated depreciation and amortization .................... (5,046) (4,423)
Net property and equipment ................................. 11,314 10,900
OTHER ASSETS .................................................. 793 742
TOTAL ASSETS .......................................... $23,815 $21,979
LIABILITIES AND EQUITY
CURRENT LIABILITIES
Short-term borrowings .......................................... $ 26 $ 16
Accounts payable .............................................. 5,947 5,450
Accrued salaries and benefits .................................... 1,571 1,418
Accrued sales and other taxes ................................... 322 302
Deferred membership fees ...................................... 869 824
Current portion of long-term debt ................................. 0 80
Other current liabilities .......................................... 1,328 1,191
Total current liabilities ....................................... 10,063 9,281
LONG-TERM DEBT, excluding current portion ....................... 2,141 2,130
DEFERRED INCOME TAXES AND OTHER LIABILITIES ................ 681 464
Total liabilities ............................................. 12,885 11,875
COMMITMENTS AND CONTINGENCIES
EQUITY
Preferred stock $.005 par value; 100,000,000 shares authorized; no
shares issued and outstanding ................................. 0 0
Common stock $.005 par value; 900,000,000 shares authorized;
433,510,000 and 435,974,000 shares issued and outstanding ....... 2 2
Additional paid-in capital ........................................ 4,115 3,811
Accumulated other comprehensive income ......................... 122 110
Retained earnings ............................................. 6,590 6,101
Total Costco stockholders’ equity ............................. 10,829 10,024
Noncontrolling interests ......................................... 101 80
Total equity ............................................... 10,930 10,104
TOTAL LIABILITIES AND EQUITY ........................... $23,815 $21,979
The accompanying notes are an integral part of these consolidated financial statements.
46