Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company 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.
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Costco Wholesale Corp., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2026-05-10), 10-Q (reporting date: 2026-02-15), 10-Q (reporting date: 2025-11-23), 10-K (reporting date: 2025-08-31), 10-Q (reporting date: 2025-05-11), 10-Q (reporting date: 2025-02-16), 10-Q (reporting date: 2024-11-24), 10-K (reporting date: 2024-09-01), 10-Q (reporting date: 2024-05-12), 10-Q (reporting date: 2024-02-18), 10-Q (reporting date: 2023-11-26), 10-K (reporting date: 2023-09-03), 10-Q (reporting date: 2023-05-07), 10-Q (reporting date: 2023-02-12), 10-Q (reporting date: 2022-11-20), 10-K (reporting date: 2022-08-28), 10-Q (reporting date: 2022-05-08), 10-Q (reporting date: 2022-02-13), 10-Q (reporting date: 2021-11-21), 10-K (reporting date: 2021-08-29), 10-Q (reporting date: 2021-05-09), 10-Q (reporting date: 2021-02-14), 10-Q (reporting date: 2020-11-22), 10-K (reporting date: 2020-08-30), 10-Q (reporting date: 2020-05-10), 10-Q (reporting date: 2020-02-16), 10-Q (reporting date: 2019-11-24).
The financial position reflects a consistent expansion of the balance sheet, with total liabilities and equity increasing from 51.4 billion USD in November 2019 to 86.4 billion USD by May 2026. This growth is characterized by a significant rise in both operational liabilities and shareholders' equity, indicating a scaling of business operations and an increase in retained capital.
- Current Liabilities and Operational Obligations
- Current liabilities have exhibited a strong upward trend, growing from 26.3 billion USD to 42.1 billion USD. Accounts payable represent the largest component of this increase, rising from 14.4 billion USD to 22.4 billion USD, although this item shows significant quarterly volatility consistent with seasonal inventory cycles. Accrued member rewards and deferred membership fees have both shown steady, linear growth, reflecting an expanding membership base and increasing loyalty program obligations.
- Long-Term Debt and Non-Current Liabilities
- Long-term debt, excluding the current portion, remained relatively stable over the analyzed period, peaking at 7.6 billion USD in May 2020 before gradually declining and stabilizing around 5.7 billion USD. Long-term operating lease liabilities have remained flat, hovering between 2.3 billion USD and 2.6 billion USD. This suggests a strategic preference for maintaining a controlled level of long-term leverage despite the overall growth in the company's asset base.
- Stockholders' Equity and Retained Earnings
- Total equity has more than doubled, increasing from 16.2 billion USD in November 2019 to 33.5 billion USD in May 2026. The primary driver of this growth is retained earnings, which climbed from 10.8 billion USD to 26.5 billion USD, despite a significant reduction observed between November 2023 and February 2024, which typically indicates a substantial dividend distribution or share repurchase program. Additional paid-in capital also saw a gradual increase, rising from 6.4 billion USD to 8.7 billion USD.
- Overall Solvency and Capital Structure
- The proportion of equity relative to total liabilities has improved over the period. While total liabilities increased by approximately 50%, total equity increased by over 100%. This shift indicates a strengthening of the solvency position and a reduced reliance on external debt to fund growth. Accumulated other comprehensive loss has fluctuated but generally trended deeper into negative territory, ending at 1.7 billion USD, though this remains a small fraction of the total equity base.