☒
|
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
☐
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
Washington | 91-1223280 | |||||||
(State or other jurisdiction of
incorporation or organization) |
(I.R.S. Employer Identification No.) |
Title of each class | Trading symbol(s) | Name of each exchange on which registered | ||||||||||||
Common Stock, $.01 Par Value | COST | The NASDAQ Global Select Market |
Large accelerated filer | ☒ | Accelerated filer | ☐ | ||||||||
Non-accelerated filer | ☐ | Smaller reporting company | ☐ | ||||||||
Emerging growth company | ☐ |
Page | ||||||||
PART I | ||||||||
Item 1. | ||||||||
Item 2. | ||||||||
Item 3. | ||||||||
Item 4. | ||||||||
PART II | ||||||||
Item 1. | ||||||||
Item 1A. | ||||||||
Item 2. | ||||||||
Item 3. | ||||||||
Item 4. | ||||||||
Item 5. | ||||||||
Item 6. | ||||||||
12 Weeks Ended | |||||||||||||||||||||||
November 22,
2020 |
November 24,
2019 |
||||||||||||||||||||||
REVENUE | |||||||||||||||||||||||
Net sales | $ | 42,347 | $ | 36,236 | |||||||||||||||||||
Membership fees | 861 | 804 | |||||||||||||||||||||
Total revenue | 43,208 | 37,040 | |||||||||||||||||||||
OPERATING EXPENSES | |||||||||||||||||||||||
Merchandise costs | 37,458 | 32,233 | |||||||||||||||||||||
Selling, general and administrative | 4,298 | 3,732 | |||||||||||||||||||||
Preopening expenses | 22 | 14 | |||||||||||||||||||||
Operating income | 1,430 | 1,061 | |||||||||||||||||||||
OTHER INCOME (EXPENSE) | |||||||||||||||||||||||
Interest expense | (39) | (38) | |||||||||||||||||||||
Interest income and other, net | 29 | 35 | |||||||||||||||||||||
INCOME BEFORE INCOME TAXES | 1,420 | 1,058 | |||||||||||||||||||||
Provision for income taxes | 239 | 202 | |||||||||||||||||||||
Net income including noncontrolling interests
|
1,181 | 856 | |||||||||||||||||||||
Net income attributable to noncontrolling interests
|
(15) | (12) | |||||||||||||||||||||
NET INCOME ATTRIBUTABLE TO COSTCO | $ | 1,166 | $ | 844 | |||||||||||||||||||
NET INCOME PER COMMON SHARE ATTRIBUTABLE TO COSTCO:
|
|||||||||||||||||||||||
Basic | $ | 2.63 | $ | 1.91 | |||||||||||||||||||
Diluted | $ | 2.62 | $ | 1.90 | |||||||||||||||||||
Shares used in calculation (000s): | |||||||||||||||||||||||
Basic | 442,952 | 441,818 | |||||||||||||||||||||
Diluted | 444,386 | 443,680 |
12 Weeks Ended | |||||||||||||||||||||||
November 22,
2020 |
November 24,
2019 |
||||||||||||||||||||||
NET INCOME INCLUDING NONCONTROLLING INTERESTS
|
$ | 1,181 | $ | 856 | |||||||||||||||||||
Foreign-currency translation adjustment and other, net
|
209 | 125 | |||||||||||||||||||||
Comprehensive income | 1,390 | 981 | |||||||||||||||||||||
Less: Comprehensive income attributable to noncontrolling interests
|
28 | 22 | |||||||||||||||||||||
COMPREHENSIVE INCOME ATTRIBUTABLE TO COSTCO
|
$ | 1,362 | $ | 959 |
|
November 22,
2020 |
August 30,
2020 |
|||||||||
ASSETS | |||||||||||
CURRENT ASSETS | |||||||||||
Cash and cash equivalents | $ | 13,590 | $ | 12,277 | |||||||
Short-term investments | 833 | 1,028 | |||||||||
Receivables, net | 1,646 | 1,550 | |||||||||
Merchandise inventories | 14,901 | 12,242 | |||||||||
Other current assets | 1,126 | 1,023 | |||||||||
Total current assets | 32,096 | 28,120 | |||||||||
OTHER ASSETS | |||||||||||
Property and equipment, net | 22,288 | 21,807 | |||||||||
Operating lease right-of-use assets | 2,785 | 2,788 | |||||||||
Other long-term assets | 3,048 | 2,841 | |||||||||
TOTAL ASSETS | $ | 60,217 | $ | 55,556 | |||||||
LIABILITIES AND EQUITY | |||||||||||
CURRENT LIABILITIES | |||||||||||
Accounts payable | $ | 17,014 | $ | 14,172 | |||||||
Accrued salaries and benefits | 3,586 | 3,605 | |||||||||
Accrued member rewards | 1,451 | 1,393 | |||||||||
Deferred membership fees | 1,985 | 1,851 | |||||||||
Current portion of long-term debt | 96 | 95 | |||||||||
Other current liabilities | 8,535 | 3,728 | |||||||||
Total current liabilities | 32,667 | 24,844 | |||||||||
OTHER LIABILITIES | |||||||||||
Long-term debt, excluding current portion | 7,529 | 7,514 | |||||||||
Long-term operating lease liabilities | 2,574 | 2,558 | |||||||||
Other long-term liabilities | 2,138 | 1,935 | |||||||||
TOTAL LIABILITIES | 44,908 | 36,851 | |||||||||
COMMITMENTS AND CONTINGENCIES | |||||||||||
EQUITY | |||||||||||
Preferred stock $0.01 par value; 100,000,000 shares authorized; no shares issued and outstanding
|
— | — | |||||||||
Common stock $0.01 par value; 900,000,000 shares authorized; 442,955,000 and 441,255,000 shares issued and outstanding
|
4 | 4 | |||||||||
Additional paid-in capital | 6,725 | 6,698 | |||||||||
Accumulated other comprehensive loss | (1,101) | (1,297) | |||||||||
Retained earnings | 9,232 | 12,879 | |||||||||
Total Costco stockholders’ equity | 14,860 | 18,284 | |||||||||
Noncontrolling interests | 449 | 421 | |||||||||
TOTAL EQUITY | 15,309 | 18,705 | |||||||||
TOTAL LIABILITIES AND EQUITY | $ | 60,217 | $ | 55,556 |
12 Weeks Ended November 22, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||
Common Stock |
Additional
Paid-in Capital |
Accumulated
Other Comprehensive Income (Loss) |
Retained
Earnings |
Total Costco
Stockholders’ Equity |
Noncontrolling
Interests |
Total
Equity |
|||||||||||||||||||||||||||||||||||||||||
Shares (000s) | Amount | ||||||||||||||||||||||||||||||||||||||||||||||
BALANCE AT AUGUST 30, 2020 | 441,255 | $ | 4 | $ | 6,698 | $ | (1,297) | $ | 12,879 | $ | 18,284 | $ | 421 | $ | 18,705 | ||||||||||||||||||||||||||||||||
Net income
|
— | — | — | — | 1,166 | 1,166 | 15 | 1,181 | |||||||||||||||||||||||||||||||||||||||
Foreign-currency translation adjustment and other, net
|
— | — | — | 196 | — | 196 | 13 | 209 | |||||||||||||||||||||||||||||||||||||||
Stock-based compensation
|
— | — | 342 | — | — | 342 | — | 342 | |||||||||||||||||||||||||||||||||||||||
Release of vested restricted stock units (RSUs), including tax effects
|
1,913 | — | (311) | — | — | (311) | — | (311) | |||||||||||||||||||||||||||||||||||||||
Repurchases of common stock
|
(213) | — | (4) | — | (73) | (77) | — | (77) | |||||||||||||||||||||||||||||||||||||||
Cash dividends declared
|
— | — | — | — | (4,740) | (4,740) | — | (4,740) | |||||||||||||||||||||||||||||||||||||||
BALANCE AT NOVEMBER 22, 2020 | 442,955 | $ | 4 | $ | 6,725 | $ | (1,101) | $ | 9,232 | $ | 14,860 | $ | 449 | $ | 15,309 | ||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
12 Weeks Ended November 24, 2019 | ||||||||||||||||||||||||||||||||||||||||||||||
Common Stock |
Additional
Paid-in Capital |
Accumulated
Other Comprehensive Income (Loss) |
Retained
Earnings |
Total Costco
Stockholders’ Equity |
Noncontrolling
Interests |
Total
Equity |
|||||||||||||||||||||||||||||||||||||||||
Shares (000s) | Amount | ||||||||||||||||||||||||||||||||||||||||||||||
BALANCE AT SEPTEMBER 1, 2019 | 439,625 | $ | 4 | $ | 6,417 | $ | (1,436) | $ | 10,258 | $ | 15,243 | $ | 341 | $ | 15,584 | ||||||||||||||||||||||||||||||||
Net income
|
— | — | — | — | 844 | 844 | 12 | 856 | |||||||||||||||||||||||||||||||||||||||
Foreign-currency translation adjustment and other, net
|
— | — | — | 115 | — | 115 | 10 | 125 | |||||||||||||||||||||||||||||||||||||||
Stock-based compensation
|
— | — | 302 | — | — | 302 | — | 302 | |||||||||||||||||||||||||||||||||||||||
Release of vested RSUs, including tax effects
|
2,253 | — | (326) | — | — | (326) | — | (326) | |||||||||||||||||||||||||||||||||||||||
Repurchases of common stock
|
(100) | — | (2) | — | (28) | (30) | — | (30) | |||||||||||||||||||||||||||||||||||||||
Cash dividend declared | — | — | — | — | (287) | (287) | — | (287) | |||||||||||||||||||||||||||||||||||||||
BALANCE AT NOVEMBER 24, 2019 | 441,778 | $ | 4 | $ | 6,391 | $ | (1,321) | $ | 10,787 | $ | 15,861 | $ | 363 | $ | 16,224 |
12 Weeks Ended | |||||||||||
November 22,
2020 |
November 24,
2019 |
||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES | |||||||||||
Net income including noncontrolling interests | $ | 1,181 | $ | 856 | |||||||
Adjustments to reconcile net income including noncontrolling interests to net cash provided by operating activities:
|
|||||||||||
Depreciation and amortization | 404 | 369 | |||||||||
Non-cash lease expense | 63 | 39 | |||||||||
Stock-based compensation | 341 | 301 | |||||||||
Other non-cash operating activities, net | (2) | 16 | |||||||||
Deferred income taxes | (9) | 5 | |||||||||
Changes in operating assets and liabilities: | |||||||||||
Merchandise inventories | (2,580) | (2,384) | |||||||||
Accounts payable | 2,785 | 2,664 | |||||||||
Other operating assets and liabilities, net | 464 | 236 | |||||||||
Net cash provided by operating activities | 2,647 | 2,102 | |||||||||
CASH FLOWS FROM INVESTING ACTIVITIES | |||||||||||
Purchases of short-term investments | (273) | (321) | |||||||||
Maturities of short-term investments | 484 | 397 | |||||||||
Additions to property and equipment | (893) | (715) | |||||||||
Other investing activities, net | — | 9 | |||||||||
Net cash used in investing activities | (682) | (630) | |||||||||
CASH FLOWS FROM FINANCING ACTIVITIES | |||||||||||
Change in bank payments outstanding | 40 | 122 | |||||||||
Tax withholdings on stock-based awards | (311) | (326) | |||||||||
Repurchases of common stock | (80) | (30) | |||||||||
Cash dividend payments | (310) | (573) | |||||||||
Other financing activities, net | (39) | (29) | |||||||||
Net cash used in financing activities | (700) | (836) | |||||||||
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS
|
48 | 7 | |||||||||
Net change in cash and cash equivalents | 1,313 | 643 | |||||||||
CASH AND CASH EQUIVALENTS BEGINNING OF YEAR | 12,277 | 8,384 | |||||||||
CASH AND CASH EQUIVALENTS END OF PERIOD | $ | 13,590 | $ | 9,027 | |||||||
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | |||||||||||
Cash paid during the first quarter for: | |||||||||||
Interest
|
$ | 64 | $ | 50 | |||||||
Income taxes, net | $ | 123 | $ | 97 | |||||||
SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING ACTIVITIES:
|
|||||||||||
Cash dividend declared, but not yet paid
|
$ | 4,430 | $ | — |
November 22, 2020: |
Cost
Basis |
Unrealized
Gains, Net |
Recorded
Basis |
||||||||||||||
Available-for-sale: | |||||||||||||||||
Government and agency securities | $ | 471 | $ | 10 | $ | 481 | |||||||||||
Held-to-maturity: | |||||||||||||||||
Certificates of deposit | 352 | — | 352 | ||||||||||||||
Total short-term investments | $ | 823 | $ | 10 | $ | 833 |
August 30, 2020: |
Cost
Basis |
Unrealized
Gains, Net |
Recorded
Basis |
||||||||||||||
Available-for-sale: | |||||||||||||||||
Government and agency securities | $ | 436 | $ | 12 | $ | 448 | |||||||||||
Held-to-maturity: | |||||||||||||||||
Certificates of deposit | 580 | — | 580 | ||||||||||||||
Total short-term investments | $ | 1,016 | $ | 12 | $ | 1,028 |
Available-For-Sale | Held-To-Maturity | ||||||||||||||||
Cost Basis | Fair Value | ||||||||||||||||
Due in one year or less | $ | 199 | $ | 199 | $ | 352 | |||||||||||
Due after one year through five years | 272 | 282 | — | ||||||||||||||
Total | $ | 471 | $ | 481 | $ | 352 |
Level 2 | |||||||||||
November 22,
2020 |
August 30,
2020 |
||||||||||
Investment in government and agency securities(1)
|
$ | 481 | $ | 508 | |||||||
Forward foreign-exchange contracts, in asset position(2)
|
1 | 1 | |||||||||
Forward foreign-exchange contracts, in (liability) position(2)
|
(20) | (21) | |||||||||
Total | $ | 462 | $ | 488 |
November 22,
2020 |
August 30,
2020 |
||||||||||
2.300% Senior Notes due May 2022 | $ | 800 | $ | 800 | |||||||
2.750% Senior Notes due May 2024 | 1,000 | 1,000 | |||||||||
3.000% Senior Notes due May 2027 | 1,000 | 1,000 | |||||||||
1.375% Senior Notes due June 2027 | 1,250 | 1,250 | |||||||||
1.600% Senior Notes due April 2030 | 1,750 | 1,750 | |||||||||
1.750% Senior Notes due April 2032 | 1,000 | 1,000 | |||||||||
Other long-term debt | 872 | 857 | |||||||||
Total long-term debt
|
7,672 | 7,657 | |||||||||
Less unamortized debt discounts and issuance costs
|
47 | 48 | |||||||||
Less current portion(1)
|
96 | 95 | |||||||||
Long-term debt, excluding current portion
|
$ | 7,529 | $ | 7,514 |
Shares Repurchased (000s) | Average Price per Share | Total Cost | |||||||||||||||
First quarter of 2021 | 213 | $ | 359.45 | $ | 77 | ||||||||||||
First quarter of 2020 | 100 | $ | 295.97 | $ | 30 |
Number of
Units (in 000s) |
Weighted-Average
Grant Date Fair Value |
||||||||||
Outstanding at August 30, 2020 | 5,174 | $ | 207.55 | ||||||||
Granted | 1,880 | 368.97 | |||||||||
Vested and delivered | (2,744) | 235.77 | |||||||||
Forfeited | (21) | 252.77 | |||||||||
Outstanding at November 22, 2020 | 4,289 | $ | 260.03 |
12 Weeks Ended | |||||||||||||||||||||||
November 22,
2020 |
November 24,
2019 |
||||||||||||||||||||||
Stock-based compensation expense
|
$ | 341 | $ | 301 | |||||||||||||||||||
Less recognized income tax benefit
|
75 | 66 | |||||||||||||||||||||
Stock-based compensation expense, net
|
$ | 266 | $ | 235 |
12 Weeks Ended | |||||||||||||||||||||||
November 22,
2020 |
November 24,
2019 |
||||||||||||||||||||||
Net income attributable to Costco
|
$ | 1,166 | $ | 844 | |||||||||||||||||||
Weighted average basic shares
|
442,952 | 441,818 | |||||||||||||||||||||
RSUs | 1,434 | 1,862 | |||||||||||||||||||||
Weighted average diluted shares
|
444,386 | 443,680 | |||||||||||||||||||||
Anti-dilutive RSUs
|
432 | — |
United States
Operations |
Canadian
Operations |
Other
International Operations |
Total | ||||||||||||||||||||
12 Weeks Ended November 22, 2020 | |||||||||||||||||||||||
Total revenue | $ | 31,292 | $ | 6,011 | $ | 5,905 | $ | 43,208 | |||||||||||||||
Operating income | 848 | 293 | 289 | 1,430 | |||||||||||||||||||
12 Weeks Ended November 24, 2019 | |||||||||||||||||||||||
Total revenue | $ | 27,065 | $ | 5,127 | $ | 4,848 | $ | 37,040 | |||||||||||||||
Operating income | 635 | 228 | 198 | 1,061 | |||||||||||||||||||
52 Weeks Ended August 30, 2020 | |||||||||||||||||||||||
Total revenue | $ | 122,142 | $ | 22,434 | $ | 22,185 | $ | 166,761 | |||||||||||||||
Operating income | 3,633 | 860 | 942 | 5,435 | |||||||||||||||||||
12 Weeks Ended | |||||||||||||||||||||||
November 22,
2020 |
November 24,
2019 |
||||||||||||||||||||||
Foods and sundries | $ | 18,019 | $ | 14,532 | |||||||||||||||||||
Hardlines
|
7,330 | 5,843 | |||||||||||||||||||||
Fresh foods | 5,863 | 4,576 | |||||||||||||||||||||
Softlines
|
5,054 | 4,297 | |||||||||||||||||||||
Ancillary and other | 6,081 | 6,988 | |||||||||||||||||||||
Total net sales
|
$ | 42,347 | $ | 36,236 |
12 Weeks Ended | |||||||||||||||||||||||
November 22,
2020 |
November 24,
2019 |
||||||||||||||||||||||
Net Sales
|
$ | 42,347 | $ | 36,236 | |||||||||||||||||||
Increases in net sales:
|
|||||||||||||||||||||||
U.S | 16 | % | 6 | % | |||||||||||||||||||
Canada | 18 | % | 3 | % | |||||||||||||||||||
Other International | 22 | % | 7 | % | |||||||||||||||||||
Total Company | 17 | % | 6 | % | |||||||||||||||||||
Increases in comparable sales:
|
|||||||||||||||||||||||
U.S | 15 | % | 5 | % | |||||||||||||||||||
Canada | 16 | % | 3 | % | |||||||||||||||||||
Other International | 19 | % | 3 | % | |||||||||||||||||||
Total Company | 15 | % | 4 | % | |||||||||||||||||||
Increases in comparable sales excluding the impact of changes in foreign currency and gasoline prices:
|
|||||||||||||||||||||||
U.S | 17 | % | 5 | % | |||||||||||||||||||
Canada | 17 | % | 5 | % | |||||||||||||||||||
Other International | 18 | % | 4 | % | |||||||||||||||||||
Total Company | 17 | % | 5 | % |
12 Weeks Ended | |||||||||||||||||||||||
November 22,
2020 |
November 24,
2019 |
||||||||||||||||||||||
Membership fees | $ | 861 | $ | 804 | |||||||||||||||||||
Membership fees as a percentage of net sales
|
2.03 | % | 2.22 | % | |||||||||||||||||||
Total paid members (000s) | 59,100 | 54,700 | |||||||||||||||||||||
Total cardholders (000s) | 107,100 | 99,900 |
12 Weeks Ended | |||||||||||||||||||||||
November 22,
2020 |
November 24,
2019 |
||||||||||||||||||||||
Net sales | $ | 42,347 | $ | 36,236 | |||||||||||||||||||
Less merchandise costs | 37,458 | 32,233 | |||||||||||||||||||||
Gross margin | $ | 4,889 | $ | 4,003 | |||||||||||||||||||
Gross margin percentage
|
11.55 | % | 11.05 | % |
12 Weeks Ended | |||||||||||||||||||||||
November 22,
2020 |
November 24,
2019 |
||||||||||||||||||||||
SG&A expenses | $ | 4,298 | $ | 3,732 | |||||||||||||||||||
SG&A expenses as a percentage of net sales | 10.15 | % | 10.30 | % |
12 Weeks Ended | |||||||||||||||||||||||
November 22,
2020 |
November 24,
2019 |
||||||||||||||||||||||
Preopening expenses | $ | 22 | $ | 14 | |||||||||||||||||||
Warehouse openings, including relocations | |||||||||||||||||||||||
United States | 7 | 3 | |||||||||||||||||||||
Canada | 2 | 1 | |||||||||||||||||||||
Other International | 1 | — | |||||||||||||||||||||
Total warehouse openings, including relocations | 10 | 4 |
12 Weeks Ended | |||||||||||||||||||||||
November 22,
2020 |
November 24,
2019 |
||||||||||||||||||||||
Interest expense | $ | 39 | $ | 38 |
12 Weeks Ended | |||||||||||||||||||||||
November 22,
2020 |
November 24,
2019 |
||||||||||||||||||||||
Interest income | $ | 10 | $ | 32 | |||||||||||||||||||
Foreign-currency transaction gains (losses), net
|
8 | (4) | |||||||||||||||||||||
Other, net | 11 | 7 | |||||||||||||||||||||
Interest income and other, net | $ | 29 | $ | 35 |
12 Weeks Ended | |||||||||||||||||||||||
November 22,
2020 |
November 24,
2019 |
||||||||||||||||||||||
Provision for income taxes | $ | 239 | $ | 202 | |||||||||||||||||||
Effective tax rate | 16.8 | % | 19.1 | % |
12 Weeks Ended | |||||||||||
November 22,
2020 |
November 24,
2019 |
||||||||||
Net cash provided by operating activities | $ | 2,647 | $ | 2,102 | |||||||
Net cash used in investing activities | (682) | (630) | |||||||||
Net cash used in financing activities | (700) | (836) | |||||||||
Period | Total Number of Shares Purchased | Average Price Paid Per Share |
Total Number of Shares Purchased as Part of Publicly Announced Programs(1)
|
Maximum Dollar Value of Shares that May Yet be Purchased Under the Programs(1)
|
|||||||||||||||||||
August 31, 2020 — September 27, 2020 | 83,000 | $ | 344.10 | 83,000 | $ | 3,716 | |||||||||||||||||
September 28, 2020 — October 25, 2020 | 82,000 | 367.82 | 82,000 | 3,686 | |||||||||||||||||||
October 26, 2020 — November 22, 2020 | 48,000 | 371.55 | 48,000 | 3,668 | |||||||||||||||||||
Total first quarter | 213,000 | $ | 359.45 | 213,000 |
Incorporated by Reference | ||||||||||||||||||||||||||||||||
Exhibit
Number |
Exhibit Description |
Filed
Herewith |
Form |
Period
Ending |
Filing Date | |||||||||||||||||||||||||||
3.1 | 10-Q | 2/16/2020 | 3/12/2020 | |||||||||||||||||||||||||||||
3.2 | 8-K | 1/29/2020 | ||||||||||||||||||||||||||||||
3.2.1 | 8-K | 9/16/2020 | ||||||||||||||||||||||||||||||
10.1 | 8-K | 10/15/2020 | ||||||||||||||||||||||||||||||
10.2 | x | |||||||||||||||||||||||||||||||
31.1 | x | |||||||||||||||||||||||||||||||
32.1 | x | |||||||||||||||||||||||||||||||
101.INS | Inline XBRL Instance Document | x | ||||||||||||||||||||||||||||||
101.SCH | Inline XBRL Taxonomy Extension Schema Document | x | ||||||||||||||||||||||||||||||
101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase Document | x | ||||||||||||||||||||||||||||||
101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase Document | x | ||||||||||||||||||||||||||||||
101.LAB | Inline XBRL Taxonomy Extension Label Linkbase Document | x | ||||||||||||||||||||||||||||||
101.PRE | Inline XBRL Taxonomy Extension Presentation Linkbase Document | x | ||||||||||||||||||||||||||||||
104 | Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101) | x |
COSTCO WHOLESALE CORPORATION
(Registrant)
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December 16, 2020 | By |
/s/ W. CRAIG JELINEK
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Date |
W. Craig Jelinek
President, Chief Executive Officer and Director
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December 16, 2020 | By |
/s/ RICHARD A. GALANTI
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Date |
Richard A. Galanti
Executive Vice President, Chief Financial Officer and Director
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/s/ W. Craig Jelinek | ||
W. Craig Jelinek | ||
President and CEO | ||
Costco Wholesale Corporation | ||
By: /s/ Hamilton James | ||
Hamilton E. James | ||
Chairman of the Board | ||
/s/ W. CRAIG JELINEK
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W. Craig Jelinek | |||||
President, Chief Executive Officer and Director |
/s/ RICHARD A. GALANTI
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|||||
Richard A. Galanti | |||||
Executive Vice President, Chief Financial Officer and Director |
/s/ W. CRAIG JELINEK
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Date: December 16, 2020 | |||||||
W. Craig Jelinek | ||||||||
President, Chief Executive Officer and Director |
/s/ RICHARD A. GALANTI
|
Date: December 16, 2020 | |||||||
Richard A. Galanti | ||||||||
Executive Vice President, Chief Financial Officer and Director |