Cash Flow Statement

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Costco Wholesale Corp., consolidated cash flow statement

US$ in millions

12 months ended:	Sep 3, 2023	Aug 28, 2022	Aug 29, 2021	Aug 30, 2020	Sep 1, 2019	Sep 2, 2018
Net income including noncontrolling interests	6,292)	5,915)	5,079)	4,059)	3,704)	3,179)
Depreciation and amortization	2,077)	1,900)	1,781)	1,645)	1,492)	1,437)
Non-cash lease expense	412)	377)	286)	194)	—)	—)
Stock-based compensation	774)	724)	665)	619)	595)	544)
Impairment of assets and other non-cash operating activities, net	495)	39)	144)	146)	156)	(55)
Merchandise inventories	1,228)	(4,003)	(1,892)	(791)	(536)	(1,313)
Accounts payable	(382)	1,891)	1,838)	2,261)	322)	1,561)
Other operating assets and liabilities, net	172)	549)	1,057)	728)	623)	421)
Changes in operating assets and liabilities	1,018)	(1,563)	1,003)	2,198)	409)	669)
Adjustments to reconcile net income including noncontrolling interests to net cash provided by operating activities	4,776)	1,477)	3,879)	4,802)	2,652)	2,595)
Net cash provided by operating activities	11,068)	7,392)	8,958)	8,861)	6,356)	5,774)
Purchases of short-term investments	(1,622)	(1,121)	(1,331)	(1,626)	(1,094)	(1,060)
Maturities and sales of short-term investments	937)	1,145)	1,446)	1,678)	1,231)	1,078)
Additions to property and equipment	(4,323)	(3,891)	(3,588)	(2,810)	(2,998)	(2,969)
Acquisitions	—)	—)	—)	(1,163)	—)	—)
Other investing activities, net	36)	(48)	(62)	30)	(4)	4)
Net cash used in investing activities	(4,972)	(3,915)	(3,535)	(3,891)	(2,865)	(2,947)
Repayments of short-term borrowings	(935)	(6)	—)	—)	—)	—)
Proceeds from short-term borrowings	917)	53)	41)	—)	—)	—)
Proceeds from issuance of long-term debt	—)	—)	—)	3,992)	298)	—)
Repayments of long-term debt	(75)	(800)	(94)	(3,200)	(89)	(86)
Tax withholdings on stock-based awards	(303)	(363)	(312)	(330)	(272)	(217)
Repurchases of common stock	(676)	(439)	(496)	(196)	(247)	(328)
Cash dividend payments	(1,251)	(1,498)	(5,748)	(1,479)	(1,038)	(689)
Financing lease payments	(291)	(176)	(67)	—)	—)	—)
Dividend to noncontrolling interest	—)	(208)	—)	—)	—)	—)
Acquisition of noncontrolling interest	—)	(842)	—)	—)	—)	—)
Other financing activities, net	—)	(4)	188)	66)	201)	39)
Net cash used in financing activities	(2,614)	(4,283)	(6,488)	(1,147)	(1,147)	(1,281)
Effect of exchange rate changes on cash and cash equivalents	15)	(249)	46)	70)	(15)	(37)
Net change in cash and cash equivalents	3,497)	(1,055)	(1,019)	3,893)	2,329)	1,509)
Cash and cash equivalents beginning of year	10,203)	11,258)	12,277)	8,384)	6,055)	4,546)
Cash and cash equivalents end of year	13,700)	10,203)	11,258)	12,277)	8,384)	6,055)

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).

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Cash flow statement item	Description	The company
Net cash provided by operating activities	Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.	Costco Wholesale Corp. net cash provided by operating activities decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.
Net cash used in investing activities	Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.	Costco Wholesale Corp. net cash used in investing activities decreased from 2021 to 2022 and from 2022 to 2023.
Net cash used in financing activities	Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.	Costco Wholesale Corp. net cash used in financing activities increased from 2021 to 2022 and from 2022 to 2023.

Costco Wholesale Corp. (NASDAQ:COST)

Cash Flow Statement