Costco 2012 Annual Report Download - page 75

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Note 13—Quarterly Financial Data (Unaudited)
The two tables that follow reflect the unaudited quarterly results of operations for 2012 and 2011.
53 Weeks Ended September 2, 2012
First
Quarter
12 Weeks
Second
Quarter
12 Weeks
Third
Quarter
12 Weeks
Fourth
Quarter
17 Weeks
Total
53 Weeks
REVENUE
Net sales ........................... $ 21,181 $ 22,508 $ 21,849 $ 31,524 $ 97,062
Membership fees .................... 447 459 475 694 2,075
Total revenue...................... 21,628 22,967 22,324 32,218 99,137
OPERATING EXPENSES
Merchandise costs ................... 18,931 20,139 19,543 28,210(4) 86,823
Selling, general and administrative ...... 2,144(1) 2,178 2,152 3,044 9,518
Preopening expenses ................. 10 6 6 15 37
Operating income .................. 543 644 623 949 2,759
OTHER INCOME (EXPENSE)
Interest expense ..................... (27) (27) (19) (22) (95)
Interest income and other, net .......... 37 10 18 38 103
INCOME BEFORE INCOME TAXES ...... 553 627 622 965 2,767
Provision for income taxes ............. 225
(2) 215 217 343 1,000
Net income including noncontrolling
interests .......................... 328 412 405 622 1,767
Net income attributable to noncontrolling
interests .......................... (8) (18) (19) (13) (58)
NET INCOME ATTRIBUTABLE TO
COSTCO ........................... $ 320 $ 394 $ 386 $ 609 $ 1,709
NET INCOME PER COMMON SHARE
ATTRIBUTABLE TO COSTCO:
Basic .............................. $ 0.74 $ 0.91 $ 0.89 $ 1.41 $ 3.94
Diluted ............................. $ 0.73 $ 0.90 $ 0.88 $ 1.39 $ 3.89
Shares used in calculation (000’s)
Basic ............................ 434,222 434,535 433,791 432,437 433,620
Diluted ........................... 440,615 439,468 439,166 438,344 439,373
CASH DIVIDENDS DECLARED PER
COMMON SHARE ................... $ 0.240 $ 0.240 $ 0.000(3) $ 0.550(5) $ 1.03
(1) Includes a $17 charge to selling, general and administrative for contributions to an initiative reforming alcohol beverage laws
in Washington State.
(2) Includes a $24 charge relating to the settlement of an income tax audit in Mexico (See Note 9—Income Taxes).
(3) On May 9, 2012, subsequent to the end of the third quarter of 2012, the Board of Directors declared a quarterly cash
dividend of $0.275 per share.
(4) Includes a $12 increase to merchandise costs for a LIFO inventory adjustment (see Note 1—Merchandise Inventories).
(5) Our current quarterly dividend rate is $0.275 per share.
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