Adjustments to Financial Statements
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Adjustments to Current Assets
Costco Wholesale Corp., adjusted current assets
US$ in millions
|
|
Aug 30, 2020 |
Sep 1, 2019 |
Sep 2, 2018 |
Sep 3, 2017 |
Aug 28, 2016 |
Aug 30, 2015 |
|
As Reported |
|
|
Current assets |
28,120 | 23,485 | 20,289 | 17,317 | 15,218 | 17,299 |
|
Adjustments |
|
|
Add: LIFO reserve1 |
— | — | — | (64) | — | 82 |
|
|
Less: Current deferred income tax assets (included in Other current assets)2 |
— | — | — | — | — | 521 |
|
After Adjustment |
|
|
Adjusted current assets |
28,120 |
23,485 |
20,289 |
17,253 |
15,218 |
16,860 |
Based on:
10-K (filing date: 2020-10-07),
10-K (filing date: 2019-10-11),
10-K (filing date: 2018-10-26),
10-K (filing date: 2017-10-18),
10-K (filing date: 2016-10-12),
10-K (filing date: 2015-10-14).
Adjustments to Total Assets
Costco Wholesale Corp., adjusted total assets
US$ in millions
|
|
Aug 30, 2020 |
Sep 1, 2019 |
Sep 2, 2018 |
Sep 3, 2017 |
Aug 28, 2016 |
Aug 30, 2015 |
|
As Reported |
|
|
Total assets |
55,556 | 45,400 | 40,830 | 36,347 | 33,163 | 33,440 |
|
Adjustments |
|
|
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)1 |
— | 1,882 | 1,825 | 1,851 | 1,814 | 1,770 |
|
|
Add: LIFO reserve2 |
— | — | — | (64) | — | 82 |
|
|
Less: Current deferred income tax assets (included in Other current assets)3 |
— | — | — | — | — | 521 |
|
|
Less: Long-term deferred income tax assets (included in Other long-term assets)4 |
406 | 398 | 316 | 254 | 202 | 109 |
|
After Adjustment |
|
|
Adjusted total assets |
55,150 |
46,884 |
42,339 |
37,880 |
34,775 |
34,662 |
Based on:
10-K (filing date: 2020-10-07),
10-K (filing date: 2019-10-11),
10-K (filing date: 2018-10-26),
10-K (filing date: 2017-10-18),
10-K (filing date: 2016-10-12),
10-K (filing date: 2015-10-14).
1 Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »
2 LIFO reserve. See details »
3 Current deferred income tax assets (included in Other current assets). See details »
4 Long-term deferred income tax assets (included in Other long-term assets). See details »
Adjustments to Total Liabilities
Costco Wholesale Corp., adjusted total liabilities
US$ in millions
|
|
Aug 30, 2020 |
Sep 1, 2019 |
Sep 2, 2018 |
Sep 3, 2017 |
Aug 28, 2016 |
Aug 30, 2015 |
|
As Reported |
|
|
Total liabilities |
36,851 | 29,816 | 27,727 | 25,268 | 20,831 | 22,597 |
|
Adjustments |
|
|
Add: Operating lease liability (before adoption of FASB Topic 842)1 |
— | 1,882 | 1,825 | 1,851 | 1,814 | 1,770 |
|
|
Less: Long-term deferred income tax liabilities (included in Other long-term liabilities)2 |
665 | 543 | 317 | 312 | 297 | 462 |
|
After Adjustment |
|
|
Adjusted total liabilities |
36,186 |
31,155 |
29,235 |
26,807 |
22,348 |
23,905 |
Based on:
10-K (filing date: 2020-10-07),
10-K (filing date: 2019-10-11),
10-K (filing date: 2018-10-26),
10-K (filing date: 2017-10-18),
10-K (filing date: 2016-10-12),
10-K (filing date: 2015-10-14).
1 Operating lease liability (before adoption of FASB Topic 842). See details »
2 Long-term deferred income tax liabilities (included in Other long-term liabilities). See details »
Adjustments to Stockholders’ Equity
Costco Wholesale Corp., adjusted total Costco stockholders’ equity
US$ in millions
|
|
Aug 30, 2020 |
Sep 1, 2019 |
Sep 2, 2018 |
Sep 3, 2017 |
Aug 28, 2016 |
Aug 30, 2015 |
|
As Reported |
|
|
Total Costco stockholders’ equity |
18,284 | 15,243 | 12,799 | 10,778 | 12,079 | 10,617 |
|
Adjustments |
|
|
Less: Net deferred tax assets (liabilities)1 |
(259) | (145) | (1) | (58) | (95) | 168 |
|
|
Add: LIFO reserve2 |
— | — | — | (64) | — | 82 |
|
|
Add: Noncontrolling interests |
421 | 341 | 304 | 301 | 253 | 226 |
|
After Adjustment |
|
|
Adjusted total equity |
18,964 |
15,729 |
13,104 |
11,073 |
12,427 |
10,757 |
Based on:
10-K (filing date: 2020-10-07),
10-K (filing date: 2019-10-11),
10-K (filing date: 2018-10-26),
10-K (filing date: 2017-10-18),
10-K (filing date: 2016-10-12),
10-K (filing date: 2015-10-14).
Adjustments to Capitalization Table
Costco Wholesale Corp., adjusted capitalization table
US$ in millions
|
|
Aug 30, 2020 |
Sep 1, 2019 |
Sep 2, 2018 |
Sep 3, 2017 |
Aug 28, 2016 |
Aug 30, 2015 |
|
As Reported |
|
|
Current portion of long-term debt |
95 | 1,699 | 90 | 86 | 1,100 | 1,283 |
|
|
Long-term debt, excluding current portion |
7,514 | 5,124 | 6,487 | 6,573 | 4,061 | 4,864 |
|
|
Total reported debt |
7,609 |
6,823 |
6,577 |
6,659 |
5,161 |
6,147 |
|
|
Total Costco stockholders’ equity |
18,284 | 15,243 | 12,799 | 10,778 | 12,079 | 10,617 |
|
|
Total reported capital |
25,893 |
22,066 |
19,376 |
17,437 |
17,240 |
16,764 |
|
Adjustments to Debt |
|
|
Add: Operating lease liability (before adoption of FASB Topic 842)1 |
— | 1,882 | 1,825 | 1,851 | 1,814 | 1,770 |
|
|
Add: Current operating lease liabilities (included in other current liabilities in the consolidated balance sheets)2 |
231 | — | — | — | — | — |
|
|
Add: Long-term operating lease liabilities3 |
2,558 | — | — | — | — | — |
|
|
Adjusted total debt |
10,398 |
8,705 |
8,402 |
8,510 |
6,975 |
7,917 |
|
Adjustments to Equity |
|
|
Less: Net deferred tax assets (liabilities)4 |
(259) | (145) | (1) | (58) | (95) | 168 |
|
|
Add: LIFO reserve5 |
— | — | — | (64) | — | 82 |
|
|
Add: Noncontrolling interests |
421 | 341 | 304 | 301 | 253 | 226 |
|
|
Adjusted total equity |
18,964 |
15,729 |
13,104 |
11,073 |
12,427 |
10,757 |
|
After Adjustment |
|
|
Adjusted total capital |
29,362 |
24,434 |
21,506 |
19,583 |
19,402 |
18,674 |
Based on:
10-K (filing date: 2020-10-07),
10-K (filing date: 2019-10-11),
10-K (filing date: 2018-10-26),
10-K (filing date: 2017-10-18),
10-K (filing date: 2016-10-12),
10-K (filing date: 2015-10-14).
1 Operating lease liability (before adoption of FASB Topic 842). See details »
2 Current operating lease liabilities (included in other current liabilities in the consolidated balance sheets). See details »
3 Long-term operating lease liabilities. See details »
4 Net deferred tax assets (liabilities). See details »
5 LIFO reserve. See details »
Adjustments to Reported Income
Costco Wholesale Corp., adjusted net income attributable to Costco
US$ in millions
|
12 months ended: |
Aug 30, 2020 |
Sep 1, 2019 |
Sep 2, 2018 |
Sep 3, 2017 |
Aug 28, 2016 |
Aug 30, 2015 |
|
As Reported |
|
|
Net income attributable to Costco |
4,002 | 3,659 | 3,134 | 2,679 | 2,350 | 2,377 |
|
Adjustments |
|
|
Add: Deferred income tax expense (benefit)1 |
90 | 150 | (50) | (27) | 269 | (101) |
|
|
Add: Increase (decrease) in LIFO reserve2 |
— | — | 64 | (64) | (82) | (27) |
|
|
Add: Other comprehensive income (loss), net |
162 | (245) | (192) | 98 | 26 | (1,063) |
|
|
Add: Comprehensive income (loss), net of tax, attributable to noncontrolling interest |
80 | 37 | 38 | 48 | 30 | 14 |
|
After Adjustment |
|
|
Adjusted net income including noncontrolling interests |
4,334 |
3,601 |
2,994 |
2,734 |
2,593 |
1,200 |
Based on:
10-K (filing date: 2020-10-07),
10-K (filing date: 2019-10-11),
10-K (filing date: 2018-10-26),
10-K (filing date: 2017-10-18),
10-K (filing date: 2016-10-12),
10-K (filing date: 2015-10-14).
