COST » Topics » Item 8-Financial Statements and Supplementary Data

This excerpt taken from the COST 10-K filed Oct 16, 2009.

Item 8—Financial Statements and Supplementary Data

Financial statements of Costco are as follows:

 

     Page

Reports of Independent Registered Public Accounting Firm

   44

Consolidated Balance Sheets, as of August 30, 2009 and August 31, 2008

   46

Consolidated Statements of Income, for the 52 weeks ended August 30, 2009, August  31, 2008, and September 2, 2007

   47

Consolidated Statements of Stockholders’ Equity and Comprehensive Income, for the 52 weeks ended August  30, 2009, August 31, 2008 and September 2, 2007

   48

Consolidated Statements of Cash Flows, for the 52 weeks ended August 30, 2009, August  31, 2008, and September 2, 2007

   49

Notes to Consolidated Financial Statements

   50

 

38


Table of Contents

Item 8—Financial Statements and Supplementary Data (Continued)

 

Management’s Report on the Consolidated Financial Statements

Our management is responsible for the preparation, integrity and objectivity of the accompanying consolidated financial statements and the related financial information. The financial statements have been prepared in conformity with U.S. generally accepted accounting principles and necessarily include certain amounts that are based on estimates and informed judgments. Our management also prepared the related financial information included in this Annual Report on Form 10-K and is responsible for its accuracy and consistency with the financial statements.

The consolidated financial statements have been audited by KPMG LLP, an independent registered public accounting firm, who conducted their audit in accordance with the standards of the Public Company Accounting Oversight Board (United States). The independent registered public accounting firm’s responsibility is to express an opinion as to the fairness with which such financial statements present our financial position, results of operations and cash flows in accordance with U.S. generally accepted accounting principles.

These excerpts taken from the COST 10-K filed Oct 17, 2008.

Item 8—Financial Statements and Supplementary Data

Financial statements of Costco are as follows:

 

     Page

Reports of Independent Registered Public Accounting Firm

   42

Consolidated Balance Sheets, as of August 31, 2008 and September 2, 2007

   44

Consolidated Statements of Income, for the 52 weeks ended August 31, 2008,  September 2, 2007, and the 53 weeks ended September 3, 2006

   45

Consolidated Statements of Stockholders’ Equity and Comprehensive Income, for the 52 weeks ended August  31, 2008, September 2, 2007 and the 53 weeks ended September 3, 2006

   46

Consolidated Statements of Cash Flows, for the 52 weeks ended August 31, 2008, September  2, 2007, and the 53 weeks ended September 3, 2006

   47

Notes to Consolidated Financial Statements

   48

Management’s Report on the Consolidated Financial Statements

Our management is responsible for the preparation, integrity and objectivity of the accompanying consolidated financial statements and the related financial information. The financial statements have been prepared in conformity with U.S. generally accepted accounting principles and necessarily include certain amounts that are based on estimates and informed judgments. Our management also prepared the related financial information included in this Annual Report on Form 10-K and is responsible for its accuracy and consistency with the financial statements.

 

36


Table of Contents

Item 8—Financial Statements and Supplementary Data (Continued)

 

The consolidated financial statements have been audited by KPMG LLP, an independent registered public accounting firm, who conducted their audit in accordance with the standards of the Public Company Accounting Oversight Board (United States). The independent registered public accounting firm’s responsibility is to express an opinion as to the fairness with which such financial statements present our financial position, results of operations and cash flows in accordance with U.S. generally accepted accounting principles.

Item 8—Financial Statements and Supplementary Data

STYLE="margin-top:6px;margin-bottom:0px" ALIGN="justify">Financial statements of Costco are as follows:

 




































   Page

Reports of Independent Registered Public Accounting Firm

  42

Consolidated Balance Sheets, as of August 31, 2008 and September 2, 2007

  44

Consolidated Statements of Income, for the 52 weeks ended August 31, 2008, 
September 2, 2007, and the 53 weeks ended September 3, 2006

  45

Consolidated Statements of Stockholders’ Equity and Comprehensive Income, for the 52 weeks ended August 
31, 2008, September 2, 2007 and the 53 weeks ended September 3, 2006

  46

Consolidated Statements of Cash Flows, for the 52 weeks ended August 31, 2008, September 
2, 2007, and the 53 weeks ended September 3, 2006

  47

Notes to Consolidated Financial Statements

  48

Management’s Report on the Consolidated Financial Statements

STYLE="margin-top:6px;margin-bottom:0px" ALIGN="justify">Our management is responsible for the preparation, integrity and objectivity of the accompanying consolidated financial statements and the related financial
information. The financial statements have been prepared in conformity with U.S. generally accepted accounting principles and necessarily include certain amounts that are based on estimates and informed judgments. Our management also prepared the
related financial information included in this Annual Report on Form 10-K and is responsible for its accuracy and consistency with the financial statements.

 


36







Table of Contents



Item 8—Financial Statements and Supplementary Data (Continued)

STYLE="margin-top:0px;margin-bottom:0px"> 


The consolidated financial statements have been audited by KPMG LLP, an independent registered public
accounting firm, who conducted their audit in accordance with the standards of the Public Company Accounting Oversight Board (United States). The independent registered public accounting firm’s responsibility is to express an opinion as to the
fairness with which such financial statements present our financial position, results of operations and cash flows in accordance with U.S. generally accepted accounting principles.

ALIGN="justify">Item 9—Change in and Disagreements with Accountants on Accounting and Financial Disclosure

ALIGN="justify">None.

These excerpts taken from the COST 10-K filed Oct 16, 2008.

Item 8—Financial Statements and Supplementary Data

Financial statements of Costco are as follows:

 

     Page

Reports of Independent Registered Public Accounting Firm

   43

Consolidated Balance Sheets, as of August 31, 2008 and September 2, 2007

   45

Consolidated Statements of Income, for the 52 weeks ended August 31, 2008,  September 2, 2007, and the 53 weeks ended September 3, 2006

   46

Consolidated Statements of Stockholders’ Equity and Comprehensive Income, for the 52 weeks ended August  31, 2008, September 2, 2007 and the 53 weeks ended September 3, 2006

   47

Consolidated Statements of Cash Flows, for the 52 weeks ended August 31, 2008, September  2, 2007, and the 53 weeks ended September 3, 2006

   48

Notes to Consolidated Financial Statements

   49

Management’s Report on the Consolidated Financial Statements

Our management is responsible for the preparation, integrity and objectivity of the accompanying consolidated financial statements and the related financial information. The financial statements have been prepared in conformity with U.S. generally accepted accounting principles and necessarily include certain amounts that are based on estimates and informed judgments. Our management also prepared the related financial information included in this Annual Report on Form 10-K and is responsible for its accuracy and consistency with the financial statements.

 

36


Table of Contents

Item 8—Financial Statements and Supplementary Data (Continued)

 

The consolidated financial statements have been audited by KPMG LLP, an independent registered public accounting firm, who conducted their audit in accordance with the standards of the Public Company Accounting Oversight Board (United States). The independent registered public accounting firm’s responsibility is to express an opinion as to the fairness with which such financial statements present our financial position, results of operations and cash flows in accordance with U.S. generally accepted accounting principles.

Item 8—Financial Statements and Supplementary Data

STYLE="margin-top:6px;margin-bottom:0px" ALIGN="justify">Financial statements of Costco are as follows:

 




































   Page

Reports of Independent Registered Public Accounting Firm

  43

Consolidated Balance Sheets, as of August 31, 2008 and September 2, 2007

  45

Consolidated Statements of Income, for the 52 weeks ended August 31, 2008, 
September 2, 2007, and the 53 weeks ended September 3, 2006

  46

Consolidated Statements of Stockholders’ Equity and Comprehensive Income, for the 52 weeks ended August 
31, 2008, September 2, 2007 and the 53 weeks ended September 3, 2006

  47

Consolidated Statements of Cash Flows, for the 52 weeks ended August 31, 2008, September 
2, 2007, and the 53 weeks ended September 3, 2006

  48

Notes to Consolidated Financial Statements

  49

Management’s Report on the Consolidated Financial Statements

STYLE="margin-top:6px;margin-bottom:0px" ALIGN="justify">Our management is responsible for the preparation, integrity and objectivity of the accompanying consolidated financial statements and the related financial
information. The financial statements have been prepared in conformity with U.S. generally accepted accounting principles and necessarily include certain amounts that are based on estimates and informed judgments. Our management also prepared the
related financial information included in this Annual Report on Form 10-K and is responsible for its accuracy and consistency with the financial statements.

 


36







Table of Contents



Item 8—Financial Statements and Supplementary Data (Continued)

STYLE="margin-top:0px;margin-bottom:0px"> 


The consolidated financial statements have been audited by KPMG LLP, an independent registered public
accounting firm, who conducted their audit in accordance with the standards of the Public Company Accounting Oversight Board (United States). The independent registered public accounting firm’s responsibility is to express an opinion as to the
fairness with which such financial statements present our financial position, results of operations and cash flows in accordance with U.S. generally accepted accounting principles.

ALIGN="justify">Item 9—Change in and Disagreements with Accountants on Accounting and Financial Disclosure

ALIGN="justify">None.

This excerpt taken from the COST 10-K filed Oct 25, 2007.

Item 8—Financial Statements and Supplementary Data

Financial statements of Costco are as follows:

 

     Page

Reports of Independent Registered Public Accounting Firm

   39

Consolidated Balance Sheets, as of September 2, 2007 and September 3, 2006

   41

Consolidated Statements of Income, for the 52 weeks ended September 2, 2007, the 53 weeks ended September 3, 2006 and the 52 weeks ended August 28, 2005

   42

Consolidated Statements of Stockholders’ Equity and Comprehensive Income, for the 52 weeks ended September 2, 2007, the 53 weeks ended September 3, 2006 and the 52 weeks ended August 28, 2005

   43

Consolidated Statements of Cash Flows, for the 52 weeks ended September 2, 2007, the 53 weeks ended September 3, 2006 and the 52 weeks ended August 28, 2005

   44

Notes to Consolidated Financial Statements

   45

Management’s Report on the Consolidated Financial Statements

Our management is responsible for the preparation, integrity and objectivity of the accompanying consolidated financial statements and the related financial information. The financial statements have been prepared in conformity with U.S. generally accepted accounting principles and necessarily include certain amounts that are based on estimates and informed judgments. Our management also prepared the related financial information included in this Annual Report on Form 10-K and is responsible for its accuracy and consistency with the financial statements.

The consolidated financial statements have been audited by KPMG LLP, an independent registered public accounting firm, who conducted their audit in accordance with the standards of the Public Company Accounting Oversight Board (United States). The independent registered public accounting firm’s responsibility is to express an opinion as to the fairness with which such financial statements present our financial position, results of operations and cash flows in accordance with U.S. generally accepted accounting principles.

This excerpt taken from the COST 10-K filed Nov 17, 2006.

Item 8—Financial Statements and Supplementary Data

Financial statements of Costco are as follows:

 

     Page

Reports of Independent Registered Public Accounting Firm

   39

Consolidated Balance Sheets, as of September 3, 2006 and August 28, 2005

   41

Consolidated Statements of Income, for the 53 weeks ended September 3, 2006, and the 52 weeks ended August 28, 2005 and August 29, 2004

   42

Consolidated Statements of Stockholders’ Equity and Comprehensive Income, for the 53 weeks ended September 3, 2006, and the 52 weeks ended August 28, 2005 and August 29, 2004

   43

Consolidated Statements of Cash Flows, for the 53 weeks ended September 3, 2006, and the 52 weeks ended August 28, 2005 and August 29, 2004

   44

Notes to Consolidated Financial Statements

   45

Management’s Report on the Financial Statements

Our management is responsible for the preparation, integrity and objectivity of the accompanying consolidated financial statements and the related financial information. The financial statements have been prepared in conformity with U.S. generally accepted accounting principles and necessarily include certain amounts that are based on estimates and informed judgments. Our management also prepared the related financial information included in this Annual Report on Form 10-K and is responsible for its accuracy and consistency with the financial statements.

The consolidated financial statements have been audited by KPMG LLP, an independent registered public accounting firm, who conducted their audit in accordance with the standards of the Public Company Accounting Oversight Board (United States). The independent registered public accounting firm’s responsibility is to express an opinion as to the fairness with which such financial statements present our financial position, results of operations and cash flows in accordance with accounting principles generally accepted in the United States.

This excerpt taken from the COST 10-K filed Nov 10, 2005.

Item 8—Financial Statements and Supplementary Data

 

Financial statements of Costco are as follows:

 

     Page

Reports of Independent Registered Public Accounting Firm

   36

Consolidated Balance Sheets, as of August 28, 2005 and August 29, 2004

   38

Consolidated Statements of Income, for the 52 weeks ended August 28, 2005, August 29, 2004 and August 31, 2003

   39

Consolidated Statements of Stockholders’ Equity and Comprehensive Income, for the 52 weeks ended August 28, 2005, August 29, 2004, and August 31, 2003

   40

Consolidated Statements of Cash Flows, for the 52 weeks ended August 28, 2005, August 29, 2004, August 31, 2003

   41

Notes to Consolidated Financial Statements

   42

 

Management’s Report on the Financial Statements

 

Our management is responsible for the preparation, integrity and objectivity of the accompanying consolidated financial statements and the related financial information. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America and necessarily include certain amounts that are based on estimates and informed judgments. Our management also prepared the related financial information included in this Annual Report on Form 10-K and is responsible for its accuracy and consistency with the financial statements.

 

The consolidated financial statements have been audited by KPMG LLP, an independent registered public accounting firm, who conducted their audit in accordance with the standards of the Public Company Accounting Oversight Board (United States). The independent registered public accounting firm’s responsibility is to express an opinion as to the fairness with which such financial statements present our financial position, results of operations and cash flows in accordance with accounting principles generally accepted in the United States.

 

Management’s Annual Report on Internal Control over Financial Reporting

 

Our management is responsible for establishing and maintaining adequate internal control over financial reporting as defined in Rule 13a-15(f) under the Securities Exchange Act of 1934. Our internal control over financial reporting is designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles and include those policies and procedures that: (1) pertain to the maintenance of records that in reasonable detail accurately and fairly reflect our transactions and the dispositions of our assets; (2) provide reasonable assurance that our transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that our receipts and expenditures are being made only in accordance with appropriate authorizations; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of our assets that could have a material effect on our financial statements.

 

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Therefore, even those systems determined to be effective can provide only reasonable assurance with respect to financial statement preparation and presentation.

 

Under the supervision and with the participation of our management, we assessed the effectiveness of our internal control over financial reporting as of August 28, 2005, using the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) in Internal Control—Integrated Framework. Based on its assessment, management has concluded that our internal control over financial reporting was effective as of August 28, 2005.

 

28


Table of Contents

Item 8—Financial Statements and Supplementary Data (Continued)

 

KPMG LLP, an independent registered public accounting firm, has audited management’s assessment of the effectiveness of our internal control over financial reporting as of August 28, 2005, as stated in their audit report herein, which appears on page 37.

 

James D. Sinegal

President

Chief Executive Officer

 

Richard A. Galanti

Executive Vice President

Chief Financial Officer

 

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