Answer To: Financial Statement Analysis. Company Name: Costco 1. Company Description. [Instruction. Summarize...
Khushboo answered on Apr 29 2022
Cover
Cover - USD ($) 12 Months Ended
Aug. 29, 2021 Sep. 28, 2021 Feb. 14, 2021
Cover [Abstract]
Document Type 10-K
Amendment Flag false
Document Period End Date Aug. 29,
2021
Document Fiscal Year Focus 2021
Entity File Number 0-20355
Entity Incorporation, State or Country Code WA
Entity Tax Identification Number 91-1223280
Entity Address, Address Line One 999 Lake Drive
Entity Address, City or Town Issaquah
Entity Address, State or Province WA
Entity Address, Postal Zip Code 98027
City Area Code 425
Local Phone Number 313-8100
Title of 12(b) Security Common Stock, $.01 Par Value
Trading Symbol COST
Security Exchange Name NASDAQ
Entity Current Reporting Status Yes
Entity Interactive Data Current Yes
Entity Filer Category Large Accelerated Filer
Entity Small Business false
Entity Emerging Growth Company false
Entity Registrant Name COSTCO WHOLESALE CORP /NEW
Entity Well-known Seasoned Issuer Yes
Entity Voluntary Filers No
Entity Shell Company false
Document Annual Report true
Document Transition Report false
Entity Common Stock, Shares Outstanding 441,823,811
Entity Public Float $ 155,810,963,274
Document Fiscal Period Focus FY
Entity Central Index Key 0000909832
Current Fiscal Year End Date --08-29
ICFR Auditor Attestation Flag true
Consolidated Statements Of Inco
Consolidated Statements Of Income - USD ($) shares in Thousands, $ in Millions 12 Months Ended Horizontal Analysis Vertical Analysis
Aug. 29, 2021 Aug. 30, 2020 Sep. 01, 2019 2021 2020 2021 2020
REVENUE
Total revenue $ 195,929 $ 166,761 $ 152,703 17.5% 9.2% 100.0% 100.0%
OPERATING EXPENSES
Merchandise costs 170,684 144,939 132,886 17.8% 9.1% 87.1% 86.9%
Selling, general and administrative 18,461 16,332 14,994 13.0% 8.9% 9.4% 9.8%
Preopening expenses 76 55 86 38.2% -36.0% 0.0% 0.0%
Operating Income 6,708 5,435 4,737 23.4% 14.7% 3.4% 3.3%
OTHER INCOME (EXPENSE)
Interest expense (171) (160) (150) 6.9% 6.7% -0.1% -0.1%
Interest income and other, net 143 92 178 55.4% -48.3% 0.1% 0.1%
INCOME BEFORE INCOME TAXES 6,680 5,367 4,765 24.5% 12.6% 3.4% 3.2%
Income Tax Expense (Benefit) 1,601 1,308 1,061 22.4% 23.3% 0.8% 0.8%
Net income including noncontrolling interests 5,079 4,059 3,704 25.1% 9.6% 2.6% 2.4%
Net income attributable to noncontrolling interests (72) (57) (45) 26.3% 26.7% -0.0% -0.0%
NET INCOME ATTRIBUTABLE TO COSTCO $ 5,007 $ 4,002 $ 3,659 25.1% 9.4% 2.6% 2.4%
NET INCOME PER COMMON SHARE ATTRIBUTABLE TO COSTCO:
Basic (in dollars per share) $ 11.30 $ 9.05 $ 8.32
Diluted (in dollars per share) $ 11.27 $ 9.02 $ 8.26
Weighted Average Number of Shares Outstanding, Diluted [Abstract]
Basic (shares) 443,089 442,297 439,755
Diluted (shares) 444,346 443,901 442,923
Net sales
REVENUE
Total revenue $ 192,052 $ 163,220 $ 149,351
Membership fees $ 3,877 $ 3,541 $ 3,352
REVENUE
Total revenue
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Millions Aug. 29, 2021 Aug. 30, 2020 Vertical Analysis Horizontal analysis
CURRENT ASSETS 2021 2020 2021
Cash and cash equivalents $ 11,258 $ 12,277 19.0% 22.1% -8.3%
Short-term investments 917 1,028 1.5% 1.9% -10.8%
Receivables, net 1,803 1,550 3.0% 2.8% 16.3%
Merchandise inventories 14,215 12,242 24.0% 22.0% 16.1%
Other current assets 1,312 1,023 2.2% 1.8% 28.3%
Total current assets 29,505 28,120 49.8% 50.6% 4.9%
OTHER ASSETS
Property and Equipment, net 23,492 21,807 39.6% 39.3% 7.7%
Operating lease right-of-use assets 2,890 2,788 4.9% 5.0% 3.7%
Other long-term...