Table 6. Coscto Wholesale Corp Pro Forma Balance Sheet
Costco Wholesale Corp
Pro Forma Balance Sheet Years 2010,2011,2012
(In Millions)201220112010
Assets
CURRENT ASSETS
Cash and cash equivalents$3,528$4,009$ 3,214
Short-term investments1,3261,6041,535
Receivables, net1,026965884
Merchandise inventories7,0966,6385,638
Deferred income taxes and other current assets550490437
Total current assets13,52613,70611,708
PROPERTY AND EQUIPMENT
Land4,0323,8193,484
Buildings and improvements10,87910,2789,096
Equipment and fixtures4,2614,0023,513
Construction in progress374269267
Gross property, plant and equipment19,54618,36816,360
Less accumulated depreciation and amortization-6,585-5,936-5,046
Net property and equipment12,96112,43211,314
OTHER ASSETS653623793
TOTAL ASSETS27,14026,76123,815
Liabilities and Stockholders Equity
CURRENT LIABILITIES
Short-term borrowings0026
Accounts payable7,3036,5445947
Current portion of long-term debt19000
Accrued salaries and benefits1,8321,7581571
Accrued member rewards6616020
Accrued sales and other taxes397335322
Other current liabilities9659381328
Deferred membership fees1,101973869
Total current liabilities12,26012,05010063
LONG-TERM DEBT, excluding current portion1,3811,2532141
DEFERRED INCOME TAXES AND OTHER LIABILITIES981885681
Total liabilities14,62214,18812885
COMMITMENTS AND CONTINGENCIES
EQUITY
Preferred stock $.005 par value; 100,000,000 shares authorized; no shares issued and outstanding000
Common stock $.005 par value; 900,000,000 shares authorized; 432,350,000 and 434,266,000 shares issued and outstanding222
Additional paid-in capital4,3694,5164115
Accumulated Other Comprehensive Income156373122
Retained earnings7,8347,1116590
Total Costco stockholders’ equity12,36112,00210,829
Noncontrolling interests157571101
Total equity12,51812,57310,930
TOTAL LIABILITIES AND EQUITY$27,140$26,761$23,815
Table 1. Coscto Wholesale Corp Common Size Balance Sheet
Costco Wholesale Corp
Common Size Balance Sheet
Years 2010,2011,2012
(In Percentages)2012201120103 Year Avg
Assets
CURRENT ASSETS
Cash and cash equivalents13.00%14.98%13.50%13.83%
Short-term investments4.89%5.99%6.45%5.78%
Receivables, net3.78%3.61%3.71%3.70%
Merchandise inventories26.15%24.80%23.67%24.87%
Deferred income taxes and other current assets2.03%1.83%1.83%1.90%
Total current assets49.84%51.22%49.16%50.07%
PROPERTY AND EQUIPMENT
Land14.86%14.27%14.63%14.59%
Buildings and improvements40.08%38.41%38.19%38.90%
Equipment and fixtures15.70%14.95%14.75%15.14%
Construction in progress1.38%1.01%1.12%1.17%
Gross property, plant and equipment72.02%68.64%68.70%69.78%
Less accumulated depreciation and amortization-24.26%-22.18%-21.19%-22.54%
Net property and equipment47.76%46.46%47.51%47.24%
OTHER ASSETS2.41%2.33%3.33%2.69%
TOTAL ASSETS100.00%100.00%100.00%100.00%
Liabilities and Stockholders Equity
CURRENT LIABILITIES
Short-term borrowings0.00%0.00%0.11%0.04%
Accounts payable26.91%24.45%24.97%25.44%
Current portion of long-term debt0.00%3.36%0.00%1.12%
Accrued salaries and benefits6.75%6.57%6.60%6.64%
Accrued member rewards2.44%2.25%0.00%1.56%
Accrued sales and other taxes1.46%1.25%1.35%1.36%
Other current liabilities3.56%3.51%5.58%4.21%
Deferred membership fees7.53%6.86%6.74%7.04%
Total current liabilities45.17%45.03%42.25%44.15%
LONG-TERM DEBT, excluding current portion5.09%4.68%8.99%6.25%
DEFERRED INCOME TAXES AND OTHER LIABILITIES3.61%3.31%2.86%3.26%
Total liabilities53.88%53.02%54.10%53.67%
COMMITMENTS AND CONTINGENCIES
EQUITY
Preferred stock $.005 par value; 100,000,000 shares authorized; no shares issued and outstanding0.00%0.00%0.00%0.00%
Common stock $.005 par value; 900,000,000 shares authorized; 432,350,000 and 434,266,000 shares issued and outstanding0.01%0.01%0.01%0.01%
Additional paid-in capital16.10%16.88%17.28%16.75%
Accumulated Other Comprehensive Income0.57%1.39%0.51%0.83%
Retained earnings28.87%26.57%27.67%27.70%
Total Costco stockholders’ equity45.55%44.85%45.47%45.29%
Noncontrolling interests0.58%2.13%0.42%1.05%
Total equity46.12%46.98%45.90%46.33%
TOTAL LIABILITIES AND EQUITY100.00%100.00%100.00%100.00%