Costco 2010 Annual Report Download - page 83

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Note 13—Quarterly Financial Data (Unaudited)
The two tables that follow reflect the unaudited quarterly results of operations for 2010 and 2009.
52 Weeks Ended August 29, 2010
First
Quarter
12 Weeks
Second
Quarter
12 Weeks
Third
Quarter
12 Weeks
Fourth
Quarter
16 Weeks
Total 52
Weeks
REVENUE
Net sales ............................. $ 16,922 $ 18,356 $ 17,385 $ 23,592 $ 76,255
Membership fees ....................... 377 386 395 533 1,691
Total revenue ...................... 17,299 18,742 17,780 24,125 77,946
OPERATING EXPENSES
Merchandise costs ..................... 15,081 16,396 15,494 21,024 67,995
Selling, general and administrative ........ 1,777 1,873(1) 1,789 2,401 7,840
Preopening expenses ................... 11 3 3 9 26
Provision for impaired assets and closing
costs, net ........................... 20338
Operating income .................. 428 470 491 688 2,077
OTHER INCOME (EXPENSE)
Interest expense ....................... (24) (26) (27) (34) (111)
Interest income and other, net ............ 18 30 10 30 88
INCOME BEFORE INCOME TAXES .......... 422 474 474 684 2,054
Provision for income taxes ............... 152 169 163 247 731
Net income including noncontrolling
interests ............................ 270 305 311 437 1,323
Net income attributable to noncontrolling
interests ............................ (4) (6) (5) (5) (20)
NET INCOME ATTRIBUTABLE TO COSTCO . . $ 266 $ 299 $ 306 $ 432 $ 1,303
NET INCOME PER COMMON SHARE
ATTRIBUTABLE TO COSTCO:
Basic ................................. $ 0.61 $ 0.68 $ 0.69 $ 0.99 $ 2.97
Diluted ............................... $ 0.60 $ 0.67 $ 0.68 $ 0.97 $ 2.92
Shares used in calculation (000’s)
Basic ................................. 437,173 439,786 440,973 437,071 438,611
Diluted ............................... 444,849 446,918 448,391 444,289 445,970
Dividends per share ........................ $ 0.180 $ 0.180 $ 0.205 $ 0.205 $ 0.77
(1) Includes a $22 charge related to a change in employee benefits whereby certain unused time off will now be paid
annually to our employees.
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