Costco 2011 Annual Report Download - page 36

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are subject to change upon further review, it is our current intention to spend approximately $1,400 to
$1,600 during fiscal 2012 for real estate, construction, remodeling, and equipment for warehouses and
related operations. These expenditures are expected to be financed with a combination of cash
provided from operations and existing cash and cash equivalents and short-term investments.
We plan to open up to 20 net new warehouses in 2012, and at least one relocation of an existing
warehouse to a larger and better-located facility. In addition, the closed warehouse in Japan is
expected to re-open in the third quarter of fiscal 2012.
We opened 20 net new warehouses in 2011 and spent $1,290 on capital expenditures.
Bank Credit Facilities and Commercial Paper Programs
Credit Facility
Description
Expiration
Date
Credit Line Activity at
August 28, 2011
Applicable
Interest
RateEntity
Total of
all Credit
Facilities
Stand-by
Letter of
Credit
(LC) &
Letter of
Guaranty
Commercial
LC
Short-
Term
Borrowing
Available
Credit
U.S. ............ Uncommitted
Standby LC
N/A $ 17 $17 $— $— $ — N/A
U.S. ............ Uncommitted
Commercial LC
N/A 50 — 21 — 29 N/A
Australia(1) ...... Guarantee Line N/A 10 2 — — 8 N/A
Canada(1)(3) ..... Multi-Purpose
Line
N/A 30 22 — — 8 2.35%
Japan(1)(4) ...... Revolving Credit February-12 72 — — — 72 0.58%
Japan(1) ........ Bank Guaranty March-12 20 20 — — — N/A
Japan(1) ........ Revolving Credit February-12 46 — — — 46 0.58%
Japan(2) ........ Commercial LC N/A 1 — — — 1 N/A
Korea(1) ........ Multi-Purpose
Line
March-12 11 1 1 — 9 4.39%
Mexico .......... Commercial LC October-11 3 — — — 3 N/A
Mexico .......... Commercial LC N/A 3 — — — 3 N/A
Taiwan .......... Multi-Purpose
Line
January-12 24 10 — — 14 2.75%
Taiwan .......... Multi-Purpose
Line
July-12 17 3 — — 14 2.79%
United Kingdom . . Uncommitted
Money Market
Line
N/A 32 — — — 32 3.10%
United Kingdom . . Uncommitted
Overdraft Line
N/A 49 — — — 49 1.50%
United
Kingdom(2) ....
Letter of
Guarantee
N/A 3 3 — — — N/A
United Kingdom . . Commercial LC N/A 3 1 — — 2 N/A
TOTAL ................... $391 $79 $22 $— $290
(1) The U.S. parent company, Costco Wholesale Corporation, guarantees this entity’s credit facility.
(2) Obligations under this facility are fully cash-collateralized by the subsidiary.
(3) The bank may cancel or restrict availability under this facility with 45-days written notice.
(4) This credit facility’s total facility amount will decrease to approximately $26 in November 2011.
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