Costco 2012 Annual Report Download - page 47

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COSTCO WHOLESALE CORPORATION
CONSOLIDATED STATEMENTS OF INCOME
(dollars in millions, except per share data)
53 weeks
ended
September 2,
2012
52 weeks
ended
August 28,
2011
52 weeks
ended
August 29,
2010
REVENUE
Net sales ....................................... $ 97,062 $ 87,048 $ 76,255
Membership fees ................................ 2,075 1,867 1,691
Total revenue ................................ 99,137 88,915 77,946
OPERATING EXPENSES
Merchandise costs ............................... 86,823 77,739 67,995
Selling, general and administrative .................. 9,518 8,691 7,848
Preopening expenses ............................. 37 46 26
Operating income ............................ 2,759 2,439 2,077
OTHER INCOME (EXPENSE)
Interest expense ................................. (95) (116) (111)
Interest income and other, net ...................... 103 60 88
INCOME BEFORE INCOME TAXES .................... 2,767 2,383 2,054
Provision for income taxes ......................... 1,000 841 731
Net income including noncontrolling interests ......... 1,767 1,542 1,323
Net income attributable to noncontrolling interests ..... (58) (80) (20)
NET INCOME ATTRIBUTABLE TO COSTCO ............ $ 1,709 $ 1,462 $ 1,303
NET INCOME PER COMMON SHARE
ATTRIBUTABLE TO COSTCO:
Basic .......................................... $ 3.94 $ 3.35 $ 2.97
Diluted ......................................... $ 3.89 $ 3.30 $ 2.92
Shares used in calculation (000’s)
Basic ................................... 433,620 436,119 438,611
Diluted ................................. 439,373 443,094 445,970
CASH DIVIDENDS DECLARED PER COMMON SHARE . . . $ 1.03 $ 0.89 $ 0.77
The accompanying notes are an integral part of these consolidated financial statements.
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