Stock Analysis on Net

Costco Wholesale Corp. (NASDAQ:COST)

Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Costco Wholesale Corp., consolidated income statement

US$ in millions

Microsoft Excel
12 months ended: Sep 3, 2023 Aug 28, 2022 Aug 29, 2021 Aug 30, 2020 Sep 1, 2019 Sep 2, 2018
Net sales 237,710 222,730 192,052 163,220 149,351 138,434
Merchandise costs (212,586) (199,382) (170,684) (144,939) (132,886) (123,152)
Gross margin 25,124 23,348 21,368 18,281 16,465 15,282
Membership fees 4,580 4,224 3,877 3,541 3,352 3,142
Selling, general and administrative (21,590) (19,779) (18,537) (16,387) (15,080) (13,944)
Operating income 8,114 7,793 6,708 5,435 4,737 4,480
Interest expense (160) (158) (171) (160) (150) (159)
Interest income 470 61 41 89 126 75
Foreign-currency transaction gains, net 29 106 56 7 27 23
Other, net 34 38 46 (4) 25 23
Interest income and other, net 533 205 143 92 178 121
Other income (expense) 373 47 (28) (68) 28 (38)
Income before income taxes 8,487 7,840 6,680 5,367 4,765 4,442
Provision for income taxes (2,195) (1,925) (1,601) (1,308) (1,061) (1,263)
Net income including noncontrolling interests 6,292 5,915 5,079 4,059 3,704 3,179
Net income attributable to noncontrolling interests (71) (72) (57) (45) (45)
Net income attributable to Costco 6,292 5,844 5,007 4,002 3,659 3,134

Based on: 10-K (reporting date: 2023-09-03), 10-K (reporting date: 2022-08-28), 10-K (reporting date: 2021-08-29), 10-K (reporting date: 2020-08-30), 10-K (reporting date: 2019-09-01), 10-K (reporting date: 2018-09-02).

Income statement item Description The company
Net sales Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Costco Wholesale Corp. net sales increased from 2021 to 2022 and from 2022 to 2023.
Operating income The net result for the period of deducting operating expenses from operating revenues. Costco Wholesale Corp. operating income increased from 2021 to 2022 and from 2022 to 2023.
Income before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Costco Wholesale Corp. income before income taxes increased from 2021 to 2022 and from 2022 to 2023.
Net income attributable to Costco The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Costco Wholesale Corp. net income attributable to Costco increased from 2021 to 2022 and from 2022 to 2023.