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Costco Wholesale Corp. (COST)


Statement of Financial Position, Liabilities and Stockholders’ Equity

Difficulty: Beginner

The statement of financial position provides creditors, investors, and analysts with information on company’s resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company’s assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

Costco Wholesale Corp., Consolidated Statement of Financial Position, Liabilities and Stockholders’ Equity

USD $ in millions

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Sep 2, 2018 Sep 3, 2017 Aug 28, 2016 Aug 30, 2015 Aug 31, 2014 Sep 1, 2013
Short-term borrowings –  –  –  –  –  36 
Accounts payable 11,237  9,608  7,612  9,011  8,491  7,872 
Current portion of long-term debt 90  86  1,100  1,283  –  – 
Accrued salaries and benefits 2,994  2,703  2,629  2,468  2,231  2,037 
Accrued member rewards 1,057  961  869  813  773  710 
Deferred membership fees 1,624  1,498  1,362  1,269  1,254  1,167 
Other current liabilities 2,924  2,639  2,003  1,696  1,663  1,435 
Current liabilities 19,926  17,495  15,575  16,540  14,412  13,257 
Long-term debt, excluding current portion 6,487  6,573  4,061  4,864  5,093  4,998 
Other liabilities 1,314  1,200  1,195  1,193  1,004  1,016 
Non-current liabilities 7,801  7,773  5,256  6,057  6,097  6,014 
Total liabilities 27,727  25,268  20,831  22,597  20,509  19,271 
Preferred stock $.01 par value; no shares issued and outstanding –  –  –  –  –  – 
Common stock $.01 par value
Additional paid-in capital 6,107  5,800  5,490  5,218  4,919  4,670 
Accumulated other comprehensive loss (1,199) (1,014) (1,099) (1,121) (76) (122)
Retained earnings 7,887  5,988  7,686  6,518  7,458  6,283 
Total Costco stockholders’ equity 12,799  10,778  12,079  10,617  12,303  10,833 
Noncontrolling interests 304  301  253  226  212  179 
Total equity 13,103  11,079  12,332  10,843  12,515  11,012 
Total liabilities and equity 40,830  36,347  33,163  33,440  33,024  30,283 

Based on: 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), 10-K (filing date: 2014-10-15), 10-K (filing date: 2013-10-16).

Item Description The company
Current liabilities Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Costco Wholesale Corp.’s current liabilities increased from 2016 to 2017 and from 2017 to 2018.
Non-current liabilities Amount of obligation due after one year or beyond the normal operating cycle, if longer. Costco Wholesale Corp.’s non-current liabilities increased from 2016 to 2017 and from 2017 to 2018.
Total liabilities Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Costco Wholesale Corp.’s total liabilities increased from 2016 to 2017 and from 2017 to 2018.
Total Costco stockholders’ equity Total of all stockholders’ equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity’s stockholders’ equity attributable to the parent excludes the amount of stockholders’ equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Costco Wholesale Corp.’s total Costco stockholders’ equity declined from 2016 to 2017 but then increased from 2017 to 2018 exceeding 2016 level.