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

	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	4	4	4	2	2	2
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.