Costco 2014 Annual Report Download - page 44

Download and view the complete annual report

Please find page 44 of the 2014 Costco annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 76

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76

COSTCO WHOLESALE CORPORATION
CONSOLIDATED STATEMENTS OF INCOME
(amounts in millions, except per share data)
52 Weeks Ended 52 Weeks Ended 53 Weeks Ended
August 31,
2014 September 1,
2013 September 2,
2012
REVENUE
Net sales ................................................................................ $110,212 $102,870
$97,062
Membership fees ................................................................... 2,428 2,286
2,075
Total revenue .................................................................. 112,640 105,156
99,137
OPERATING EXPENSES
Merchandise costs ................................................................. 98,458 91,948
86,823
Selling, general and administrative ........................................ 10,899 10,104
9,518
Preopening expenses ............................................................ 63 51
37
Operating income ........................................................... 3,220 3,053
2,759
OTHER INCOME
(
EXPENSE
)
Interest expense ....................................................................
(
113
)
(
99
)
(
95
)
Interest income and other, net ............................................... 90 97
103
INCOME BEFORE INCOME TAXES ............................................ 3,197 3,051
2,767
Provision for income taxes ..................................................... 1,109 990
1,000
Net income including noncontrolling interests ........................ 2,088 2,061
1,767
Net income attributable to noncontrolling interests ................
(
30
)
(
22
)
(
58
)
NET INCOME ATTRIBUTABLE TO COSTCO ............................. $2,058 $2,039
$1,709
NET INCOME PER COMMON SHARE ATTRIBUTABLE TO
COSTCO:
Basic ...................................................................................... $4.69 4.68
$3.94
Diluted ................................................................................... $4.65 $4.63
$3.89
Shares used in calculation
(
000’s
)
Basic ..................................................................... 438,693 435,741
433,620
Diluted ................................................................... 442,485 440,512
439,373
CASH DIVIDENDS DECLARED PER COMMON SHARE........... $1.33 $8.17
$1.03
The accompanying notes are an integral part of these consolidated financial statements.
42
$