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Costco Wholesale Corp. (COST)


Balance Sheet: Liabilities and Stockholders’ Equity

Beginner level

The balance sheet 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 balance sheet: liabilities and stockholders’ equity

US$ in millions

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Sep 1, 2019 Sep 2, 2018 Sep 3, 2017 Aug 28, 2016 Aug 30, 2015 Aug 31, 2014
Accounts payable 11,679  11,237  9,608  7,612  9,011  8,491 
Accrued salaries and benefits 3,176  2,994  2,703  2,629  2,468  2,231 
Accrued member rewards 1,180  1,057  961  869  813  773 
Deferred membership fees 1,711  1,624  1,498  1,362  1,269  1,254 
Current portion of long-term debt 1,699  90  86  1,100  1,283  — 
Other current liabilities 3,792  2,924  2,639  2,003  1,696  1,663 
Current liabilities 23,237  19,926  17,495  15,575  16,540  14,412 
Long-term debt, excluding current portion 5,124  6,487  6,573  4,061  4,864  5,093 
Other liabilities 1,455  1,314  1,200  1,195  1,193  1,004 
Non-current liabilities 6,579  7,801  7,773  5,256  6,057  6,097 
Total liabilities 29,816  27,727  25,268  20,831  22,597  20,509 
Preferred stock $.01 par value; no shares issued and outstanding —  —  —  —  —  — 
Common stock $.01 par value
Additional paid-in capital 6,417  6,107  5,800  5,490  5,218  4,919 
Accumulated other comprehensive loss (1,436) (1,199) (1,014) (1,099) (1,121) (76)
Retained earnings 10,258  7,887  5,988  7,686  6,518  7,458 
Total Costco stockholders’ equity 15,243  12,799  10,778  12,079  10,617  12,303 
Noncontrolling interests 341  304  301  253  226  212 
Total equity 15,584  13,103  11,079  12,332  10,843  12,515 
Total liabilities and equity 45,400  40,830  36,347  33,163  33,440  33,024 

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

Balance sheet 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 2017 to 2018 and from 2018 to 2019.
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 2017 to 2018 but then decreased significantly from 2018 to 2019.
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 2017 to 2018 and from 2018 to 2019.
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 increased from 2017 to 2018 and from 2018 to 2019.