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Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended
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Sep. 01, 2019
Quarterly Financial Information Disclosure [Abstract] |
Unaudited Quarterly Results of Operations | The two tables that follow reflect the unaudited quarterly results of operations for 2019 and 2018.
| 52 Weeks Ended September 1, 2019
| First Quarter (12 Weeks) |  | Second Quarter (12 Weeks) |  | Third Quarter (12 Weeks) |  | Fourth Quarter (16 Weeks) |  | Total (52 Weeks)
REVENUE |  |  |  |  |  |  |  |  |
Net sales | $ | 34,311 |  |  | $ | 34,628 |  |  | $ | 33,964 |  |  | $ | 46,448 |  |  | $ | 149,351 |
Membership fees | 758 |  |  | 768 |  |  | 776 |  |  | 1,050 |  |  | 3,352 |
Total revenue | 35,069 |  |  | 35,396 |  |  | 34,740 |  |  | 47,498 |  |  | 152,703 |
OPERATING EXPENSES |  |  |  |  |  |  |  |  |
Merchandise costs | 30,623 |  |  | 30,720 |  |  | 30,233 |  |  | 41,310 |  |  | 132,886 |
Selling, general and administrative | 3,475 |  |  | 3,464 |  |  | 3,371 |  |  | 4,684 |  | (1 | ) | 14,994 |
Preopening expenses | 22 |  |  | 9 |  |  | 14 |  |  | 41 |  |  | 86 |
Operating income | 949 |  |  | 1,203 |  |  | 1,122 |  |  | 1,463 |  |  | 4,737 |
OTHER INCOME (EXPENSE) |  |  |  |  |  |  |  |  |
Interest expense | (36 | ) |  | (34 | ) |  | (35 | ) |  | (45 | ) |  | (150 | )
Interest income and other, net | 22 |  |  | 46 |  |  | 36 |  |  | 74 |  |  | 178 |
INCOME BEFORE INCOME TAXES | 935 |  |  | 1,215 |  |  | 1,123 |  |  | 1,492 |  |  | 4,765 |
Provision for income taxes | 158 |  |  | 314 |  |  | 207 |  |  | 382 |  |  | 1,061 |
Net income including noncontrolling interests | 777 |  |  | 901 |  |  | 916 |  |  | 1,110 |  |  | 3,704 |
Net income attributable to noncontrolling interests | (10 | ) |  | (12 | ) |  | (10 | ) |  | (13 | ) |  | (45 | )
NET INCOME ATTRIBUTABLE TO COSTCO | $ | 767 |  |  | $ | 889 |  |  | $ | 906 |  |  | $ | 1,097 |  |  | $ | 3,659 |
NET INCOME PER COMMON SHARE ATTRIBUTABLE TO COSTCO: |  |  |  |  |  |  |  |  |
Basic | $ | 1.75 |  |  | $ | 2.02 |  |  | $ | 2.06 |  |  | $ | 2.49 |  |  | $ | 8.32 |
Diluted | $ | 1.73 |  |  | $ | 2.01 |  |  | $ | 2.05 |  |  | $ | 2.47 |  |  | $ | 8.26 |
Shares used in calculation (000’s) |  |  |  |  |  |  |  |  |
Basic | 439,157 |  |  | 440,284 |  |  | 439,859 |  |  | 439,727 |  |  | 439,755 |
Diluted | 442,749 |  |  | 442,337 |  |  | 442,642 |  |  | 443,400 |  |  | 442,923 |
CASH DIVIDENDS DECLARED PER COMMON SHARE | $ | 0.57 |  |  | $ | 0.57 |  |  | $ | 0.65 |  |  | $ | 0.65 |  |  | $ | 2.44 |
_______________ (1) Includes a $123 charge for a product tax assessment.
| 52 Weeks Ended September 2, 2018
| First Quarter (12 Weeks) |  | Second Quarter (12 Weeks) |  | Third Quarter (12 Weeks) |  | Fourth Quarter (16 Weeks) |  | Total (52 Weeks)
REVENUE |  |  |  |  |  |  |  |  |
Net sales | $ | 31,117 |  |  | $ | 32,279 |  |  | $ | 31,624 |  |  | $ | 43,414 |  |  | $ | 138,434 |
Membership fees | 692 |  |  | 716 |  |  | 737 |  |  | 997 |  |  | 3,142 |
Total revenue | 31,809 |  |  | 32,995 |  |  | 32,361 |  |  | 44,411 |  |  | 141,576 |
OPERATING EXPENSES |  |  |  |  |  |  |  |  |
Merchandise costs | 27,617 |  |  | 28,733 |  |  | 28,131 |  |  | 38,671 |  |  | 123,152 |
Selling, general and administrative | 3,224 |  |  | 3,234 |  |  | 3,155 |  |  | 4,263 |  |  | 13,876 |
Preopening expenses | 17 |  |  | 12 |  |  | 8 |  |  | 31 |  |  | 68 |
Operating income | 951 |  |  | 1,016 |  |  | 1,067 |  |  | 1,446 |  |  | 4,480 |
OTHER INCOME (EXPENSE) |  |  |  |  |  |  |  |  |
Interest expense | (37 | ) |  | (37 | ) |  | (37 | ) |  | (48 | ) |  | (159 | )
Interest income and other, net | 22 |  |  | 7 |  |  | 41 |  |  | 51 |  |  | 121 |
INCOME BEFORE INCOME TAXES | 936 |  |  | 986 |  |  | 1,071 |  |  | 1,449 |  |  | 4,442 |
Provision for income taxes | 285 |  |  | 273 |  |  | 309 |  |  | 396 |  |  | 1,263 |
Net income including noncontrolling interests | 651 |  |  | 713 |  |  | 762 |  |  | 1,053 |  |  | 3,179 |
Net income attributable to noncontrolling interests | (11 | ) |  | (12 | ) |  | (12 | ) |  | (10 | ) |  | (45 | )
NET INCOME ATTRIBUTABLE TO COSTCO | $ | 640 |  |  | $ | 701 |  |  | $ | 750 |  |  | $ | 1,043 |  |  | $ | 3,134 |
NET INCOME PER COMMON SHARE ATTRIBUTABLE TO COSTCO: |  |  |  |  |  |  |  |  |
Basic | $ | 1.46 |  |  | $ | 1.60 |  |  | $ | 1.71 |  |  | $ | 2.38 |  |  | $ | 7.15 |
Diluted | $ | 1.45 |  |  | $ | 1.59 |  |  | $ | 1.70 |  |  | $ | 2.36 |  |  | $ | 7.09 |
Shares used in calculation (000’s) |  |  |  |  |  |  |  |  |
Basic | 437,965 |  |  | 439,022 |  |  | 438,740 |  |  | 438,379 |  |  | 438,515 |
Diluted | 440,851 |  |  | 441,568 |  |  | 441,715 |  |  | 442,427 |  |  | 441,834 |
CASH DIVIDENDS DECLARED PER COMMON SHARE | $ | 0.50 |  |  | $ | 0.50 |  |  | $ | 0.57 |  |  | $ | 0.57 |  |  | $ | 2.14 |

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