Costco 2011 Annual Report Download - page 48

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COSTCO WHOLESALE CORPORATION
CONSOLIDATED BALANCE SHEETS
(dollars in millions, except par value and share data)
August 28,
2011
August 29,
2010
ASSETS
CURRENT ASSETS
Cash and cash equivalents ...................................... $ 4,009 $ 3,214
Short-term investments ......................................... 1,604 1,535
Receivables, net ............................................... 965 884
Merchandise inventories ........................................ 6,638 5,638
Deferred income taxes and other current assets ..................... 490 437
Total current assets ........................................ 13,706 11,708
PROPERTY AND EQUIPMENT
Land ........................................................ 3,819 3,484
Buildings and improvements ..................................... 10,278 9,096
Equipment and fixtures ......................................... 4,002 3,513
Construction in progress ........................................ 269 267
18,368 16,360
Less accumulated depreciation and amortization .................... (5,936) (5,046)
Net property and equipment ................................. 12,432 11,314
OTHER ASSETS .................................................. 623 793
TOTAL ASSETS .......................................... $26,761 $23,815
LIABILITIES AND EQUITY
CURRENT LIABILITIES
Short-term borrowings .......................................... $ 0 $ 26
Accounts payable .............................................. 6,544 5,947
Current portion of long-term debt ................................. 900 0
Accrued salaries and benefits .................................... 1,758 1,571
Accrued sales and other taxes ................................... 335 322
Other current liabilities .......................................... 1,540 1,328
Deferred membership fees ...................................... 973 869
Total current liabilities ....................................... 12,050 10,063
LONG-TERM DEBT, excluding current portion ....................... 1,253 2,141
DEFERRED INCOME TAXES AND OTHER LIABILITIES ................ 885 681
Total liabilities ............................................. $14,188 $12,885
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
434,266,000 and 433,510,000 shares issued and outstanding ....... 2 2
Additional paid-in capital ........................................ 4,516 4,115
Accumulated other comprehensive income ......................... 373 122
Retained earnings ............................................. 7,111 6,590
Total Costco stockholders’ equity ............................. 12,002 10,829
Noncontrolling interests ......................................... 571 101
Total equity ............................................... 12,573 10,930
TOTAL LIABILITIES AND EQUITY ........................... $26,761 $23,815
The accompanying notes are an integral part of these consolidated financial statements.
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