Costco 2010 Annual Report Download - page 49

Download and view the complete annual report

Please find page 49 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 STATEMENTS OF INCOME
(dollars in millions, except per share data)
52 weeks
ended
August 29,
2010
52 weeks
ended
August 30,
2009
52 weeks
ended
August 31,
2008
REVENUE
Net sales ....................................... $ 76,255 $ 69,889 $ 70,977
Membership fees ................................ 1,691 1,533 1,506
Total revenue ................................ 77,946 71,422 72,483
OPERATING EXPENSES
Merchandise costs ............................... 67,995 62,335 63,503
Selling, general and administrative .................. 7,840 7,252 6,954
Preopening expenses ............................. 26 41 57
Provision for impaired assets and closing costs, net .... 8 17 0
Operating income ............................ 2,077 1,777 1,969
OTHER INCOME (EXPENSE)
Interest expense ................................. (111) (108) (103)
Interest income and other, net ...................... 88 58 145
INCOME BEFORE INCOME TAXES .................... 2,054 1,727 2,011
Provision for income taxes ......................... 731 628 716
Net income including noncontrolling interests ......... 1,323 1,099 1,295
Net income attributable to noncontrolling interests ..... (20) (13) (12)
NET INCOME ATTRIBUTABLE TO COSTCO ............ $ 1,303 $ 1,086 $ 1,283
NET INCOME PER COMMON SHARE ATTRIBUTABLE TO
COSTCO:
Basic .......................................... $ 2.97 $ 2.50 $ 2.95
Diluted ......................................... $ 2.92 $ 2.47 $ 2.89
Shares used in calculation (000’s)
Basic ...................................... 438,611 433,988 434,442
Diluted ..................................... 445,970 440,454 444,240
Dividends per share .............................. $ 0.77 $ 0.68 $ 0.61
The accompanying notes are an integral part of these consolidated financial statements.
47