.Income Statement
Difficulty: Beginner
The income statement presents information on the financial results of a company's 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
USD $ in millions
| 12 months ended | Sep 3, 2017 | Aug 28, 2016 | Aug 30, 2015 | Aug 31, 2014 | Sep 1, 2013 | Sep 2, 2012 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | Net sales | ||||||||||||
| | Merchandise costs | ||||||||||||
| | Gross margin | | | | | | | ||||||
| | Membership fees | ||||||||||||
| | Selling, general and administrative | ||||||||||||
| | Preopening expenses | ||||||||||||
| | Operating income | | | | | | | ||||||
| | Interest expense | ||||||||||||
| | Interest income | ||||||||||||
| | Foreign-currency transactions gains (losses), net | ||||||||||||
| | Other, net | ||||||||||||
| | Interest income and other, net | | | | | | | ||||||
| | Other income (expense) | | | | | | | ||||||
| | Income before income taxes | | | | | | | ||||||
| | Provision for income taxes | ||||||||||||
| | Net income including noncontrolling interests | | | | | | | ||||||
| | Net income attributable to noncontrolling interests | ||||||||||||
| | Net income attributable to Costco | | | | | | |
| Item | Description | The company |
|---|---|---|
| Net sales | Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. | Costco Wholesale Corp.'s net sales increased from 2015 to 2016 and from 2016 to 2017. |
| Operating income | The net result for the period of deducting operating expenses from operating revenues. | Costco Wholesale Corp.'s operating income increased from 2015 to 2016 and from 2016 to 2017. |
| Income before income taxes | Sum of operating profit and nonoperating income (expense) before income (loss) from equity method investments, income taxes, extraordinary items, cumulative effects of changes in accounting principles, and noncontrolling interest. | Costco Wholesale Corp.'s income before income taxes increased from 2015 to 2016 and from 2016 to 2017. |
| Net income including noncontrolling interests | The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. | Costco Wholesale Corp.'s net income including noncontrolling interests declined from 2015 to 2016 but then increased from 2016 to 2017 exceeding 2015 level. |
| Net income attributable to Costco | The portion of consolidated profit or loss for the period, net of income taxes, which is attributable to the parent. If the entity does not present consolidated financial statements, the amount of profit or loss for the period, net of income taxes. | Costco Wholesale Corp.'s net income attributable to Costco declined from 2015 to 2016 but then increased from 2016 to 2017 exceeding 2015 level. |
