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Quarterly Financial Data (Unaudited)
 12 Months Ended
Sep. 02, 2018
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Data (Unaudited)
Note 12—Quarterly Financial Data (Unaudited)
The two tables that follow reflect the unaudited quarterly results of operations for 2018 and 2017.
 
52 Weeks Ended September 2, 2018
 
First
Quarter
(12 Weeks)
 
Second
Quarter
(12 Weeks)
 
Third
Quarter
(12 Weeks)
 
Fourth
Quarter
(16 Weeks)
 
Total
(52 Weeks)
REVENUE
 
 
 
 
 
 
 
 
 
Net sales
$
31,117

 
$
32,279

 
$
31,624

 
$
43,414

 
$
138,434

Membership fees
692

 
716

 
737

 
997

 
3,142

Total revenue
31,809

 
32,995

 
32,361

 
44,411

 
141,576

OPERATING EXPENSES
 
 
 
 
 
 
 
 
 
Merchandise costs
27,617

 
28,733

 
28,131

 
38,671

 
123,152

Selling, general and administrative
3,224

 
3,234

 
3,155

 
4,263

 
13,876

Preopening expenses
17

 
12

 
8

 
31

 
68

Operating income
951

 
1,016

 
1,067

 
1,446

 
4,480

OTHER INCOME (EXPENSE)
 
 
 
 
 
 
 
 
 
Interest expense
(37
)
 
(37
)
 
(37
)
 
(48
)
 
(159
)
Interest income and other, net
22

 
7

 
41

 
51

 
121

INCOME BEFORE INCOME TAXES
936

 
986

 
1,071

 
1,449

 
4,442

Provision for income taxes
285

 
273

 
309

 
396

 
1,263

Net income including noncontrolling interests
651

 
713

 
762

 
1,053

 
3,179

Net income attributable to noncontrolling interests
(11
)
 
(12
)
 
(12
)
 
(10
)
 
(45
)
NET INCOME ATTRIBUTABLE TO COSTCO
$
640

 
$
701

 
$
750

 
$
1,043

 
$
3,134

NET INCOME PER COMMON SHARE ATTRIBUTABLE TO COSTCO:
 
 
 
 
 
 
 
 
 
Basic
$
1.46

 
$
1.60

 
$
1.71

 
$
2.38

 
$
7.15

Diluted
$
1.45

 
$
1.59

 
$
1.70

 
$
2.36

 
$
7.09

Shares used in calculation (000’s)
 
 
 
 
 
 
 
 
 
Basic
437,965

 
439,022

 
438,740

 
438,379

 
438,515

Diluted
440,851

 
441,568

 
441,715

 
442,427

 
441,834

CASH DIVIDENDS DECLARED PER COMMON SHARE
$
0.50

 
$
0.50

 
$
0.57

 
$
0.57

 
$
2.14



 
53 Weeks Ended September 3, 2017
 
First
Quarter
(12 Weeks)
 
Second
Quarter
(12 Weeks)
 
Third
Quarter
(12 Weeks)
 
Fourth
Quarter
(17 Weeks)
 
Total (53 Weeks)
REVENUE
 
 
 
 
 
 
 
 
 
Net sales
$
27,469

 
$
29,130

 
$
28,216

 
$
41,357

 
$
126,172

Membership fees
630

 
636

 
644

 
943

 
2,853

Total revenue
28,099

 
29,766

 
28,860

 
42,300

 
129,025

OPERATING EXPENSES
 
 

 

 

 

Merchandise costs
24,288

 
25,927

 
24,970

 
36,697

 
111,882

Selling, general and administrative
2,940

 
2,980

 
2,907

 
4,123

 
12,950

Preopening expenses
22

 
15

 
15

 
30

 
82

Operating income
849

 
844

 
968

 
1,450

 
4,111

OTHER INCOME (EXPENSE)
 
 

 

 

 

Interest expense
(29
)
 
(31
)
 
(21
)
 
(53
)
 
(134
)
Interest income and other, net
26

 
(4
)
 
18

 
22

 
62

INCOME BEFORE INCOME TAXES
846

 
809

 
965

 
1,419

 
4,039

Provision for income taxes
291

 
288

 
259

(1) 
487

 
1,325

Net income including noncontrolling interests
555

 
521

 
706

 
932

 
2,714

Net income attributable to noncontrolling interests
(10
)
 
(6
)
 
(6
)
 
(13
)
 
(35
)
NET INCOME ATTRIBUTABLE TO COSTCO
$
545

 
$
515

 
$
700

 
$
919

 
$
2,679

NET INCOME PER COMMON SHARE ATTRIBUTABLE TO COSTCO:
 
 

 

 

 

Basic
$
1.24

 
$
1.17

 
$
1.59

 
$
2.10

 
$
6.11

Diluted
$
1.24

 
$
1.17

 
$
1.59

 
$
2.08

 
$
6.08

Shares used in calculation (000’s)
 
 

 

 

 

Basic
438,007

 
439,127

 
438,817

 
437,987

 
438,437

Diluted
440,525

 
440,657

 
441,056

 
441,036

 
440,937

CASH DIVIDENDS DECLARED PER COMMON SHARE
$
0.45

 
$
0.45

 
$
7.50

(2) 
$
0.50

 
$
8.90


_______________
(1)
Includes an $82 tax benefit recorded in the third quarter in connection with the special cash dividend paid to employees through the Company's 401(k) Retirement Plan.
(2)
Includes the special cash dividend of $7.00 per share paid in May 2017.