XML 45 R32.htm IDEA: XBRL DOCUMENT
v3.20.2

Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended
--- | ---
Aug. 30, 2020
Quarterly Financial Information Disclosure [Abstract] |
Unaudited Quarterly Results of Operations | The two tables that follow reflect the unaudited quarterly results of operations for 2020 and 2019.
| 52 Weeks Ended August 30, 2020 |  |  |  |  |  |  |  |
| First Quarter (12 Weeks) |  | Second Quarter (12 Weeks) |  | Third Quarter (12 Weeks) |  | Fourth Quarter (16 Weeks) |  | Total (52 Weeks)
REVENUE |  |  |  |  |  |  |  |  |
Net sales | $ | 36,236 |  |  | $ | 38,256 |  |  | $ | 36,451 |  |  | $ | 52,277 |  |  | $ | 163,220 |
Membership fees | 804 |  |  | 816 |  |  | 815 |  |  | 1,106 |  |  | 3,541 |
Total revenue | 37,040 |  |  | 39,072 |  |  | 37,266 |  |  | 53,383 |  |  | 166,761 |
OPERATING EXPENSES |  |  |  |  |  |  |  |  |
Merchandise costs (1) | 32,233 |  |  | 34,056 |  |  | 32,249 |  |  | 46,401 |  |  | 144,939 |
Selling, general and administrative (2) | 3,732 |  |  | 3,743 |  |  | 3,830 |  |  | 5,027 |  | (3) |  | 16,332 |
Preopening expenses | 14 |  |  | 7 |  |  | 8 |  |  | 26 |  |  | 55 |
Operating income | 1,061 |  |  | 1,266 |  |  | 1,179 |  |  | 1,929 |  |  | 5,435 |
OTHER INCOME (EXPENSE) |  |  |  |  |  |  |  |  |
Interest expense | (38) |  |  | (34) |  |  | (37) |  |  | (51) |  |  | (160) |
Interest income and other, net | 35 |  |  | 45 |  |  | 21 |  |  | (9) |  |  | 92 |
INCOME BEFORE INCOME TAXES | 1,058 |  |  | 1,277 |  |  | 1,163 |  |  | 1,869 |  |  | 5,367 |
Provision for income taxes | 202 |  |  | 330 |  |  | 311 |  |  | 465 |  |  | 1,308 |
Net income including noncontrolling interests | 856 |  |  | 947 |  |  | 852 |  |  | 1,404 |  |  | 4,059 |
Net income attributable to noncontrolling interests | (12) |  |  | (16) |  |  | (14) |  |  | (15) |  |  | (57) |
NET INCOME ATTRIBUTABLE TO COSTCO | $ | 844 |  |  | $ | 931 |  |  | $ | 838 |  |  | $ | 1,389 |  |  | $ | 4,002 |
NET INCOME PER COMMON SHARE ATTRIBUTABLE TO COSTCO: |  |  |  |  |  |  |  |  |
Basic | $ | 1.91 |  |  | $ | 2.10 |  |  | $ | 1.90 |  |  | $ | 3.14 |  |  | $ | 9.05 |
Diluted | $ | 1.90 |  |  | $ | 2.10 |  |  | $ | 1.89 |  |  | $ | 3.13 |  |  | $ | 9.02 |
Shares used in calculation (000’s) |  |  |  |  |  |  |  |  |
Basic | 441,818 |  |  | 442,021 |  |  | 442,322 |  |  | 442,843 |  |  | 442,297 |
Diluted | 443,680 |  |  | 443,727 |  |  | 443,855 |  |  | 444,231 |  |  | 443,901 |
_______________ (1)Includes $108 of incremental wage and sanitation costs as a result of COVID-19 of which $44 and $64 were recorded in the third and fourth quarters, respectively. (2)Includes $456 of incremental wage and sanitation costs as a result of COVID-19 of which $239 and $217 were recorded in the third and fourth quarters, respectively. (3)Includes a $84 benefit due to a partial reversal of an accrual for a product tax assessment in 2019.
| 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 |
_______________ (1)Includes a $123 charge for a product tax assessment.

X
- References No definition available. + Details
Name: | us-gaap_QuarterlyFinancialInformationDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of quarterly financial data. Includes, but is not limited to, financial information for fiscal quarters, cumulative effect of a change in accounting principle and earnings per share data. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121640914&loc=d3e1280-108306 + Details
Name: | us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration