Question

COSTCO WHOLESALE CORPORATION CONSOLIDATED BALANCE SHEETS (amounts in millions, except par value and share data) September 2, September 3, 2017 2018 $ ASSETS CURRENT ASSETS Cash and cash equivalents .... Short-term investments .... Receivables, net. Merchandise inventories ..... Other current assets ...... Total current assets .... PROPERTY AND EQUIPMENT 6.055 1,204 1,669 11.040 321 20.289 4,546 1,233 1.432 9.834 272 17,317 Land Buildings and improvements. Equipment and futures Construction in progress 6,193 16.107 7.274 1.140 30.714 (11.033) 19,681 5,690 15,127 6,681 843 28,341 (10.180) 18.161 860 869 40.830 $ 36.347 $ Less accumulated depreciation and amortization Net property and equipment.. . OTHER ASSETS TOTAL ASSETS LIABILITIES AND EQUITY CURRENT LIABILITIES Accounts payable Accrued salaries and benefits Accrued member rewards.. Deferred membership fees Other current liabilities.. Total current liabilities.. LONG-TERM DEBT, excluding current portion OTHER LIABILITIES Total abilities ............... COMMITMENTS AND CONTINGENCIES EQUITY Preferred stock $0.01 par value: 100 000 000 shares authorized: no shares issued and outstanding ................ Common stock $0.01 par value: 900,000,000 shares authorized: 438,189,000 and 437 204,000 shares issued and outstanding Additional paid-in capital Accumulated other comprehensive loss Retained earnings Total Costco stockholders' equity Noncontrolling interests. Total equity TOTAL LIABILITIES AND EQUITY 11,237 2.994 1,057 1,624 3,014 19,926 6,487 1.314 27 727 9,608 2,703 961 1.498 2,725 17,495 6,573 1,200 25,268 6,107 (1.199) 7.887 12.799 304 13,103 40.830 5,800 (1.014) 5,988 10,778 301 11.079 36.347 The accompanying notes are an integral part of these consolidated financial statements

Answer 1

	Sept 2 ,2018	Sept 3 ,2017	Changes (Amount)	Changes (%)
Current Assets
Cash and Cash Equivalents	6055	4546	1509	33.19%
Short-term Investments	1204	1233	-29	-2.35%
Receivables net	1669	1432	237	16.55%
Merchandise Inventory	11040	9834	1206	12.26%
Other Current Assets	321	272	49	18.01%
Total Current Assets	20289	17317	2972	17.16%
Property & Equipment
Land	6193	5690	503	8.84%
Buildings and Improvements	16107	15127	980	6.48%
Equipment and Fixtures	7274	6681	593	8.88%
Construction in Progress	1140	843	297	35.23%
	30714	28341	2373	8.37%
Less - Depreciation & Amortization	11033	10180	853	8.38%
Net Property & Equipment	19681	18161	1520	8.37%
Other Assets	860	869	-9	-1.04%
Total Assets	40830	36347	4483	12.33%
Current Liabilities
Accounts Payable	11237	9608	1629	16.95%
Accured Salaries and Benefits	2994	2703	291	10.77%
Accrued Members Rewards	1057	961	96	9.99%
Deferred Membership Rewards	1624	1498	126	8.41%
Other Current Liabilities	3014	2725	289	10.61%
Total Current Liabilities	19926	17495	2431	13.90%
Long Term Debts excluding current portion	6487	6573	-86	-1.31%
Other Liabilities	1314	1200	114	9.50%
Total Liabilities	27727	25268	2459	9.73%
Commitments & Contingencies
Preffered Stocks $0.01 par value	0	0	0
Common Stocks $ 0.01 par values	4	4	0	0.00%
Additional Paid-in Capital	6107	5800	307	5.29%
Accumulated Other Comprehensive Income	-1199	-1014	-185	18.24%
Retained Earnings	7887	5988	1899	31.71%
Total Stokeholders Equity	12799	10778	2021	18.75%
Non Controling Interest	304	301	3	1.00%
Total Equity	13103	11079	2024	18.27%
Total Liabilities and Equity	40830	36347	4483	12.33%

	Income Statements
	Sept 2 ,2018	Sept 3 ,2017	Changes (Amount)	Changes (%)
Revenue
Net Sales	138434	126172	12262	9.72%
Membership Fees	3142	2853	289	10.13%
Total Revenue	141576	129025	12551	9.73%
Operating Expenses
Merchandise Cost	123152	111882	11270	10.07%
Selling, General and Administrative Expenses	13876	12950	926	7.15%
Preopening Expenses	68	82	-14	-17.07%
Operating Income	4480	4111	369	8.98%
Other Income (Expense)
Interest Expenses	-159	-134	-25	18.66%
Interest Income and Other, net	121	62	59	95.16%
Income Before Taxes	4442	4039	403	9.98%
Provision for Income Taxes	1263	1325	-62	-4.68%
Net Income including non controlling interests	3179	2714	465	17.13%
Net Income attributed to non controlling interests	-45	-35	-10	28.57%
Net Income attributed to COSTCO	3134	2679	455	16.98%
Net Income per common shares
Attributed to COSTCO
Basic	7.15	6.11	1.04	17.02%
Diluted	7.09	6.08	1.01	16.61%
Cash Divided Declared	2.14	8.90	-6.76	-75.96%

	Statement of Comprehensive Income
	Sept 2 ,2018	Sept 3 ,2017	Changes (Amount)	Changes (%)
Net Income Including Non controlling interest	3179	2714	465	17.13%
Foreign Currency Transiction and Others, net	-192	98	-290	-295.92%
Comprehensive Income	2987	2812	175	6.22%
Less: Comprehensive Income attributed to non controlling interests	38	48	-10	-20.83%
Comprehensive Income attributed to COSTCO	2949	2764	185	6.69%

	Cash Flow Statement
	Sept 2 ,2018	Sept 3 ,2017	Changes (Amount)	Changes (%)
Cash Flow from Operating Activities
Net Income including noncontrolling interests	3179	2714	465	17.13%
Adjustments
Depreciation & Amortization	1437	1370	67	4.89%
Stock based compensation	544	514	30	5.84%
Other non cash operating activities, net	-6	-14	8	-57.14%
Deferred Income Taxes	-49	-29	-20	68.97%
Changes in operating assets and liabilities
Merchandise Inventory	-1313	-894	-419	46.87%
Accounts Payable	1561	2258	-697	-30.87%
Other operating assets and liabilities, net	421	807	-386	-47.83%
Non cash provided by operating activities	5774	6726	-952	-14.15%
Cash Flow from Investing Activities
Purchases of short term investments	-1060	-1279	219	-17.12%
Maturities and Sales of Short Term Investments	1078	1385	-307	-22.17%
Assition to Property and Equipment	-2969	-2502	-467	18.67%
Other Investing Activities, net	4	30	-26	-86.67%
Net cash used in investing activities	-2947	-2366	-581	24.56%
Cash flow from Financing Activities
Change in Bank Checks Outstanding	80	-236	316	-133.90%
Repayments of short term borrowings
Proceeds from short term borrowings
Proceeds from issuance of long term debts		3782	-3782	-100.00%
Repayments of long term debts	-86	-2200	2114	-96.09%
Tax withholdings on stock based awards	-217	-202	-15	7.43%
Repurchases of common stocks	-328	-469	141	-30.06%
Cash divident payments	-689	-3904	3215	-82.35%
Other Financing Activities, net	-41	11	-52	-472.73%
Net Cash used in financing activities	-1281	-3218	1937	-60.19%
Effects of Exchange Rate on cash and cash equivalents	-37	25	-62	-248.00%
Net Change in cash and cash equivalents	1509	1167	342	29.31%
Cash and Cash Equivalents beginning of the year	4546	3379	1167	34.54%
Cash and Cash Equivalents End of the Year	6055	4546	1509	33.19%
Supplement Disclosure of Cash Flow Information
Cash Paid During the year
Interest	143	131	12	9.16%
Income Tax	1204	1185	19	1.60%
Supplement Disclosure of Non Cash and Investing Activities
Property and Equipment acquired, but not paid yet	113		113
Cash Dividend Declea, not yet paid	250		250