Costco 2012 Annual Report Download - page 46

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COSTCO WHOLESALE CORPORATION
CONSOLIDATED BALANCE SHEETS
(dollars in millions, except par value and share data)
September 2,
2012
August 28,
2011
ASSETS
CURRENT ASSETS
Cash and cash equivalents ..................................... $ 3,528 $ 4,009
Short-term investments ........................................ 1,326 1,604
Receivables, net .............................................. 1,026 965
Merchandise inventories ....................................... 7,096 6,638
Deferred income taxes and other current assets .................... 550 490
Total current assets ....................................... 13,526 13,706
PROPERTY AND EQUIPMENT
Land ........................................................ 4,032 3,819
Buildings and improvements .................................... 10,879 10,278
Equipment and fixtures ......................................... 4,261 4,002
Construction in progress ....................................... 374 269
19,546 18,368
Less accumulated depreciation and amortization ................... (6,585) (5,936)
Net property and equipment ................................. 12,961 12,432
OTHER ASSETS ................................................. 653 623
TOTAL ASSETS .......................................... $27,140 $26,761
LIABILITIES AND EQUITY
CURRENT LIABILITIES
Accounts payable ............................................. $ 7,303 $ 6,544
Current portion of long-term debt ................................ 1 900
Accrued salaries and benefits ................................... 1,832 1,758
Accrued member rewards ...................................... 661 602
Accrued sales and other taxes .................................. 397 335
Other current liabilities ......................................... 965 938
Deferred membership fees ..................................... 1,101 973
Total current liabilities ...................................... 12,260 12,050
LONG-TERM DEBT, excluding current portion ....................... 1,381 1,253
DEFERRED INCOME TAXES AND OTHER LIABILITIES ............... 981 885
Total liabilities ............................................ 14,622 14,188
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;
432,350,000 and 434,266,000 shares issued and outstanding ....... 2 2
Additional paid-in capital ....................................... 4,369 4,516
Accumulated other comprehensive income ........................ 156 373
Retained earnings ............................................. 7,834 7,111
Total Costco stockholders’ equity ............................ 12,361 12,002
Noncontrolling interests ........................................ 157 571
Total equity .............................................. 12,518 12,573
TOTAL LIABILITIES AND EQUITY .......................... $27,140 $26,761
The accompanying notes are an integral part of these consolidated financial statements.
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