エドガーで原本を確認する
| Washington | 0-20355 | 91-1223280 | ||||||||||||
| (State or other jurisdiction of incorporation) |
(Commission File No.) |
(I.R.S. Employer Identification No.) |
||||||||||||
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | ||||
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | ||||
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | ||||
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | ||||
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
| Common Stock, par value $.005 per share | COST | NASDAQ | ||||||||||||
| COSTCO WHOLESALE CORPORATION | |||||||||||
| Dated: March 7, 2024 | By: | /s/ Richard A. Galanti | |||||||||
| Richard A. Galanti | |||||||||||
| Executive Vice President, Chief Financial Officer and Director | |||||||||||
| 12 Weeks | 12 Weeks | 24 Weeks | 24 Weeks | ||||||||||||||||||||
| Adjusted* | Adjusted* | ||||||||||||||||||||||
| U.S. | 4.3% | 4.8% | 3.1% | 3.7% | |||||||||||||||||||
| Canada | 9.2% | 9.0% | 7.8% | 8.6% | |||||||||||||||||||
| Other International | 8.6% | 8.2% | 9.8% | 7.7% | |||||||||||||||||||
| Total Company | 5.6% | 5.8% | 4.7% | 4.8% | |||||||||||||||||||
| E-commerce | 18.4% | 18.2% | 12.2% | 12.0% | |||||||||||||||||||
| 4 Weeks | 4 Weeks | 26 Weeks | 26 Weeks | ||||||||||||||||||||
| Adjusted* | Adjusted* | ||||||||||||||||||||||
| U.S. | 3.4% | 4.1% | 3.2% | 3.8% | |||||||||||||||||||
| Canada | 8.4% | 8.3% | 7.9% | 8.7% | |||||||||||||||||||
| Other International | 10.2% | 11.3% | 9.8% | 7.8% | |||||||||||||||||||
| Total Company | 5.0% | 5.6% | 4.7% | 4.9% | |||||||||||||||||||
| E-commerce | 16.2% | 16.0% | 12.6% | 12.4% | |||||||||||||||||||
| 12 Weeks Ended | 24 Weeks Ended | ||||||||||||||||||||||
| February 18, 2024 |
February 12, 2023 |
February 18, 2024 |
February 12, 2023 |
||||||||||||||||||||
| REVENUE | |||||||||||||||||||||||
| Net sales | $ | 57,331 | $ | 54,239 | $ | 114,048 | $ | 107,676 | |||||||||||||||
| Membership fees | 1,111 | 1,027 | 2,193 | 2,027 | |||||||||||||||||||
| Total revenue | 58,442 | 55,266 | 116,241 | 109,703 | |||||||||||||||||||
| OPERATING EXPENSES | |||||||||||||||||||||||
| Merchandise costs | 51,140 | 48,423 | 101,597 | 96,192 | |||||||||||||||||||
| Selling, general and administrative | 5,240 | 4,940 | 10,598 | 9,857 | |||||||||||||||||||
| Operating income | 2,062 | 1,903 | 4,046 | 3,654 | |||||||||||||||||||
| OTHER INCOME (EXPENSE) | |||||||||||||||||||||||
| Interest expense | (41) | (34) | (79) | (68) | |||||||||||||||||||
| Interest income and other, net | 216 | 114 | 376 | 167 | |||||||||||||||||||
| INCOME BEFORE INCOME TAXES | 2,237 | 1,983 | 4,343 | 3,753 | |||||||||||||||||||
| Provision for income taxes | 494 | 517 | 1,011 | 923 | |||||||||||||||||||
| NET INCOME | $ | 1,743 | $ | 1,466 | $ | 3,332 | $ | 2,830 | |||||||||||||||
| NET INCOME PER COMMON SHARE: | |||||||||||||||||||||||
| Basic | $ | 3.93 | $ | 3.30 | $ | 7.51 | $ | 6.37 | |||||||||||||||
| Diluted | $ | 3.92 | $ | 3.30 | $ | 7.49 | $ | 6.37 | |||||||||||||||
| Shares used in calculation (000's): | |||||||||||||||||||||||
| Basic | 443,892 | 443,877 | 443,859 | 443,857 | |||||||||||||||||||
| Diluted | 444,754 | 444,475 | 444,579 | 444,503 | |||||||||||||||||||
| February 18, 2024 |
September 3, 2023 |
||||||||||
| ASSETS | |||||||||||
| CURRENT ASSETS | |||||||||||
| Cash and cash equivalents | $ | 9,095 | $ | 13,700 | |||||||
| Short-term investments | 1,226 | 1,534 | |||||||||
| Receivables, net | 2,779 | 2,285 | |||||||||
| Merchandise inventories | 17,075 | 16,651 | |||||||||
| Other current assets | 1,971 | 1,709 | |||||||||
| Total current assets | 32,146 | 35,879 | |||||||||
| OTHER ASSETS | |||||||||||
| Property and equipment, net | 27,601 | 26,684 | |||||||||
| Operating lease right-of-use assets | 2,740 | 2,713 | |||||||||
| Other long-term assets | 3,836 | 3,718 | |||||||||
| TOTAL ASSETS | $ | 66,323 | $ | 68,994 | |||||||
| LIABILITIES AND EQUITY | |||||||||||
| CURRENT LIABILITIES | |||||||||||
| Accounts payable | $ | 17,494 | $ | 17,483 | |||||||
| Accrued salaries and benefits | 4,801 | 4,278 | |||||||||
| Accrued member rewards | 2,268 | 2,150 | |||||||||
| Deferred membership fees | 2,541 | 2,337 | |||||||||
| Current portion of long-term debt | 1,080 | 1,081 | |||||||||
| Other current liabilities | 6,504 | 6,254 | |||||||||
| Total current liabilities | 34,688 | 33,583 | |||||||||
| OTHER LIABILITIES | |||||||||||
| Long-term debt, excluding current portion | 5,865 | 5,377 | |||||||||
| Long-term operating lease liabilities | 2,488 | 2,426 | |||||||||
| Other long-term liabilities | 2,522 | 2,550 | |||||||||
| TOTAL LIABILITIES | 45,563 | 43,936 | |||||||||
| COMMITMENTS AND CONTINGENCIES | |||||||||||
| EQUITY | |||||||||||
| Preferred stock $0.005 par value; 100,000,000 shares authorized; no shares issued and outstanding | — | — | |||||||||
| Common stock $0.005 par value; 900,000,000 shares authorized; 443,549,000 and 442,793,000 shares issued and outstanding | 2 | 2 | |||||||||
| Additional paid-in capital | 7,620 | 7,340 | |||||||||
| Accumulated other comprehensive loss | (1,842) | (1,805) | |||||||||
| Retained earnings | 14,980 | 19,521 | |||||||||
| TOTAL EQUITY | 20,760 | 25,058 | |||||||||
| TOTAL LIABILITIES AND EQUITY | $ | 66,323 | $ | 68,994 | |||||||
| 24 Weeks Ended | |||||||||||
| February 18, 2024 |
February 12, 2023 |
||||||||||
| CASH FLOWS FROM OPERATING ACTIVITIES | |||||||||||
| Net income | $ | 3,332 | $ | 2,830 | |||||||
Adjustments to reconcile net income to net cash provided by operating activities: |
|||||||||||
| Depreciation and amortization | 1,015 | 917 | |||||||||
| Non-cash lease expense | 148 | 216 | |||||||||
| Stock-based compensation | 580 | 549 | |||||||||
| Impairment of assets and other non-cash operating activities, net | (7) | 145 | |||||||||
Changes in working capital |
314 | 1,145 | |||||||||
| Net cash provided by operating activities | 5,382 | 5,802 | |||||||||
| CASH FLOWS FROM INVESTING ACTIVITIES | |||||||||||
| Purchases of short-term investments | (719) | (396) | |||||||||
| Maturities and sales of short-term investments | 1,029 | 512 | |||||||||
| Additions to property and equipment | (2,071) | (1,947) | |||||||||
| Other investing activities, net | 9 | (34) | |||||||||
| Net cash used in investing activities | (1,752) | (1,865) | |||||||||
| CASH FLOWS FROM FINANCING ACTIVITIES | |||||||||||
| Repayments of short-term borrowings | (409) | (520) | |||||||||
| Proceeds from short-term borrowings | 383 | 479 | |||||||||
| Proceeds from issuance of long-term debt | 498 | — | |||||||||
| Tax withholdings on stock-based awards | (292) | (302) | |||||||||
| Repurchases of common stock | (322) | (284) | |||||||||
| Cash dividend payments | (8,012) | (400) | |||||||||
| Financing lease payments | (94) | (158) | |||||||||
| Other financing activities, net | (2) | (30) | |||||||||
| Net cash used in financing activities | (8,250) | (1,215) | |||||||||
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS |
15 | 45 | |||||||||
| Net change in cash and cash equivalents | (4,605) | 2,767 | |||||||||
| CASH AND CASH EQUIVALENTS BEGINNING OF YEAR | 13,700 | 10,203 | |||||||||
| CASH AND CASH EQUIVALENTS END OF YEAR | $ | 9,095 | $ | 12,970 | |||||||