| Consolidated Statements Of Income – USD ($) shares in Thousands, $ in Millions |
COSTCO Wholesales Corporation |
|
|
|
|
Consolidated Balance Sheets – USD ($) $ in Millions |
2021 |
2020 |
2019 |
|
2021 |
2020 |
2019 |
|
|
CURRENT ASSETS |
| REVENUE |
|
|
|
|
|
Cash and cash equivalents |
$ 11,258 |
$ 12,277 |
$ 8,384 |
| Total revenue |
$ 195,929 |
$ 166,761 |
$ 152,703 |
|
|
Short-term investments |
917 |
1,028 |
$ 1,060 |
| OPERATING EXPENSES |
|
|
|
|
|
Receivables, net |
1,803 |
1,550 |
$ 1,535 |
| Merchandise costs |
170,684 |
144,939 |
132,886 |
|
|
Merchandise inventories |
14,215 |
12,242 |
$ 11,395 |
| Selling, general and administrative |
18,461 |
16,332 |
14,994 |
|
|
Other current assets |
1,312 |
1,023 |
$ 1,111 |
| Preopening expenses |
76 |
55 |
86 |
|
|
Total current assets |
29,505 |
28,120 |
$ 23,485 |
| Operating Income |
6,708 |
5,435 |
4,737 |
|
|
OTHER ASSETS |
| OTHER INCOME (EXPENSE) |
|
|
|
|
|
Property and Equipment, net |
23,492 |
21,807 |
20,890 |
| Interest expense |
(171) |
(160) |
(150) |
|
|
Operating lease right-of-use assets |
2,890 |
2,788 |
0 |
| Interest income and other, net |
143 |
92 |
178 |
|
|
Other long-term assets |
3,381 |
2,841 |
1,025 |
| INCOME BEFORE INCOME TAXES |
6,680 |
5,367 |
4,765 |
|
|
TOTAL ASSETS |
59,268 |
55,556 |
45,400 |
| Income Tax Expense |
1,601 |
1,308 |
1,061 |
|
|
CURRENT LIABILITIES |
| Net income including noncontrolling interests |
5,079 |
4,059 |
3,704 |
|
|
Accounts payable |
16,278 |
14,172 |
11,679 |
| Net income attributable to noncontrolling interests |
(72) |
(57) |
(45) |
|
|
Accrued salaries and benefits |
4,090 |
3,605 |
3,176 |
| NET INCOME ATTRIBUTABLE TO COSTCO |
$ 5,007 |
$ 4,002 |
$ 3,659 |
|
|
Accrued member rewards |
1,671 |
1,393 |
1,180 |
| NET INCOME PER COMMON SHARE ATTRIBUTABLE TO COSTCO: |
|
|
|
|
|
Deferred membership fees |
2,042 |
1,851 |
1,711 |
| Basic (in dollars per share) |
$ 11.30 |
$ 9.05 |
$ 8.32 |
|
|
Current portion of long-term debt |
799 |
95 |
1,699 |
| Diluted (in dollars per share) |
$ 11.27 |
$ 9.02 |
$ 8.26 |
|
|
Other current liabilities |
4,561 |
3,728 |
3,792 |
| Weighted Average Number of Shares Outstanding, Diluted [Abstract] |
|
|
|
|
|
Total current liabilities |
29,441 |
24,844 |
23,237 |
| Basic (shares) |
443,089 |
442,297 |
439,755 |
|
|
OTHER LIABILITIES |
| Diluted (shares) |
444,346 |
443,901 |
442,923 |
|
|
Long-term debt, excluding current portion |
6,692 |
7,514 |
5,124 |
| Net sales |
|
|
|
|
|
Long-term operating lease liabilities |
2,642 |
2,558 |
| REVENUE |
|
|
|
|
|
Other long-term liabilities |
2,415 |
1,935 |
1455 |
| Total revenue |
$ 192,052 |
$ 163,220 |
$ 149,351 |
|
|
Total liabilities |
41,190 |
36,851 |
29,816 |
| Membership fees |
|
|
|
|
|
EQUITY |
| REVENUE |
|
|
|
|
|
Preferred stock |
0 |
0 |
0 |
| Total revenue |
$ 3,877 |
$ 3,541 |
$ 3,352 |
|
|
Common Stock |
4 |
4 |
4 |
|
|
|
|
|
|
Additional paid-in capital |
7,031 |
6,698 |
6,417 |
|
|
|
|
|
|
Accumulated other comprehensive loss |
(1,137) |
(1,297) |
(1,436) |
|
|
|
|
|
|
Retained earnings |
11,666 |
12,879 |
10,258 |
|
|
|
|
|
|
Total Costco stockholders' equity |
17,564 |
18,284 |
15,243 |
|
|
|
|
|
|
Noncontrolling interests |
514 |
421 |
341 |
|
|
|
|
|
|
Total equity |
18,078 |
18,705 |
15,584 |
|
|
|
|
|
|
TOTAL LIABILITIES AND EQUITY |
$ 59,268 |
$ 55,556 |
$ 45,400 |
|
|
|
|
COSTCO WHOLESALE CORPORATION |
|
|
|
DATA FROM STATEMENTS OF INCOME ( in million ) |
|
2021 |
2020 |
2019 |
Change % in 2021 |
Change in amount 2021 |
Change % in 2020 |
Change in amount in 2022 |
| Net Sales |
$192,052 |
$163,220 |
$149,351 |
18% |
$28,832 |
9% |
$13,869 |
| Less merchandise costs |
$170,684 |
$144,939 |
$132,886 |
18% |
$25,745 |
9% |
$12,053 |
| Gross Profit |
$21,368 |
$18,281 |
$16,465 |
| Gross Profit Margin |
11.13% |
11.20% |
11.02% |
-1% |
-$0 |
2% |
$0 |
| Total Revenue |
$195,929 |
$166,761 |
$152,703 |
17% |
$29,168 |
9% |
$14,058 |
| Net Profit Margin |
2.6% |
2.4% |
2.4% |
6% |
0.00 |
0% |
0.00 |
| Operating Income |
$195,929 |
$166,761 |
$152,703 |
17% |
$29,168 |
9% |
$14,058 |
| Interest Expenses |
-$171 |
-$160 |
-$150 |
7% |
-$11 |
7% |
-$10 |
| Interest Income and other |
$143 |
$92 |
$178 |
55% |
$51 |
-48% |
-$86 |
| Non operating Income |
-$28 |
-$68 |
$28 |
-59% |
$40 |
-343% |
-$96 |
| Net Income Before Taxes |
$6,680 |
$5,367 |
$4,765 |
24% |
$1,313 |
13% |
$602 |
| Net Income |
$5,007 |
$4,002 |
$3,659 |
25% |
$1,005 |
9% |
$343 |
| Earing per Share |
$11.27 |
$9.05 |
$8.26 |
25% |
$2.22 |
10% |
$0.79 |
|
|
| Income tax rate |
24% |
24% |
22% |
-2% |
0.09 |
9% |
0.02 |
|
|
|
COSTCO WHOLESALE CORPORATION |
|
|
DATA FROM BALANCE SHEETS ( in million ) |
|
2021 |
2020 |
2019 |
Change % in 2021 |
Change in amount 2021 |
Change % in 2020 |
Change in amount in 2022 |
| Current Assets |
$29,505 |
$28,120 |
$23,485 |
4.9% |
$1,385 |
19.7% |
$4,635 |
| Total Assets |
$59,268 |
$55,556 |
$45,400 |
6.7% |
$3,712 |
22.4% |
$10,156 |
| Current Liabilities |
$29,441 |
$24,844 |
$23,237 |
18.5% |
$4,597 |
6.9% |
$1,607 |
| Total Liabilities |
$41,190 |
$36,851 |
$29,816 |
11.8% |
$4,339 |
23.6% |
$7,035 |
| Debt to Total Assets Ratio |
0.69 |
0.66 |
0.66 |
4.8% |
0.03 |
1.0% |
0.01 |
| Book Value |
$18,078 |
$18,705 |
$15,584 |
-3.4% |
-$627.00 |
20.0% |
$3,121.00 |
| Current Ratio |
1.00 |
1.13 |
1.01 |
-11.5% |
-0.13 |
12.0% |
$0.12 |
