Equity and Comprehensive Income Equity and Comprehensive Income

3 Months Ended

Nov. 24, 2013

Equity [Abstract]

Equity and Comprehensive Income

Note 5—Equity and Comprehensive Income

Dividends

The Company’s current quarterly dividend rate is $0.31 per share, compared to $0.275 per share in the first quarter of 2013. On October 29, 2013, the Board of Directors declared a quarterly cash dividend in the amount of $0.31 per share, which was paid on November 29, 2013.

Stock Repurchase Programs

There was no stock repurchase activity in the first quarter of 2014. In the first quarter of 2013, we repurchased 357,000 shares, at an average price of $96.41, totaling $34. The remaining amount available for stock repurchases under our approved plan was $3,055 at November 24, 2013. These amounts differ from the stock repurchase balances in the condensed consolidated statements of cash flows due to changes in unsettled stock repurchases at the end of a quarter. Purchases are made from time-to-time, as conditions warrant, in the open market or in block purchases, and pursuant to plans under SEC Rule 10b5-1. Repurchased shares are retired, in accordance with the Washington Business Corporation Act.

Components of Equity and Comprehensive Income

The following tables show the changes in equity attributable to Costco and the noncontrolling interests of consolidated subsidiaries and other entities in which the Company has a controlling interest, but less than total ownership:

	Attributable to Costco			Noncontrolling Interests		Total Equity
Equity at September 1, 2013	$	10,833		$	179	$	11,012
Comprehensive income:
Net income	425			6		431
Foreign-currency translation adjustment and other, net	81			3		84
Comprehensive income	506			9		515
Stock-based compensation	112			0		112
Stock options exercised, including tax effects	8			0		8
Release of vested restricted stock units (RSUs), including tax effects	(101		)	0		(101		)
Cash dividends declared	(137		)	0		(137		)
Equity at November 24, 2013	$	11,221		$	188	$	11,409
	Attributable to Costco			Noncontrolling Interests		Total Equity
Equity at September 2, 2012	$	12,361		$	157	$	12,518
Comprehensive income:
Net income	416			5		421
Foreign-currency translation adjustment and other, net	17			5		22
Comprehensive income	433			10		443
Stock-based compensation	93			0		93
Stock options exercised, including tax effects	14			0		14
Release of vested RSUs, including tax effects	(83		)	0		(83		)
Conversion of convertible notes	1			0		1
Repurchases of common stock	(34		)	0		(34		)
Cash dividends declared	(120		)	0		(120		)
Equity at November 25, 2012	$	12,665		$	167	$	12,832