Costco 2014 Annual Report Download - page 71

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69
Note 12—Quarterly Financial Data (Unaudited) (Continued)
52 Weeks Ended September 1, 2013
First
Quarter
(
12 Weeks
)
Second
Quarter
(
12 Weeks
)
Third
Quarter
(
12
W
eeks
)
Fourth
Quarter
(
16 Weeks
)
Total
(
52 Weeks
)
REVENUE
Net sales ............................................................................. $ 23,204 $ 24,343 $ 23,552
$ 31,771 $102,870
Membership fees ............................................................... 511 528 531
716 2,286
Total revenue ................................................................. 23,715 24,871 24,083
32,487 105,156
OPERATING EXPENSES
Merchandise costs ............................................................ 20,726 21,766 21,038
28,418 91,948
Selling, general and administrative ................................. 2,332 2,361 2,313
3,098 10,104
Preopening expenses ....................................................... 18 6 10
17 51
Operating income ......................................................... 639 738 722
954 3,053
OTHER INCOME
(
EXPENSE
)
Interest expense ................................................................
(
13
)
(
25
)
(
25
)
(
36
)
(
99
)
Interest income and other, net ......................................... 20 26 15
36 97
INCOME BEFORE INCOME TAXES 646 739 712
954 3,051
Provision for income taxes ............................................... 225 185 (1) 248
332 990
Net income including noncontrolling interests ............... 421 554 464
622 2,061
Net income attributable to noncontrolling interests ......
(
5
)
(
7
)
(
5
)
(
5
)
(
22
)
NET INCOME ATTRIBUTABLE TO COSTCO ............... $ 416 $ 547 $ 459
$ 617 $ 2,039
NET INCOME PER COMMON SHARE
ATTRIBUTABLE TO COSTCO:
Basic .................................................................................... $ 0.96$1.26
$1.05
$ 1.41 $4.68
Diluted ................................................................................. $ 0.95$1.24
$1.04
$ 1.40 $4.63
Shares used in calculation
(
000’s
)
Basic ............................................................................... 433,423 435,975 436,488
436,752 435,741
Diluted ............................................................................ 438,643 439,812 440,780
441,907 440,512
CASH DIVIDENDS DECLARED PER COMMON
SHARE $ 0.275 $ 7.275 (2) $0.31
$ 0.31 $8.17
_______________
through the Company's 401(k) Retirement Plan.
(2) Includes the special cash dividend of $7.00 per share paid in December 2012.
(1) Includes a $62 tax benefit recorded in the second quarter in connection with the special cash dividend paid to employees