Segment Reporting
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Sep. 02, 2012
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Segment Reporting | Note 12—Segment Reporting The Company and its subsidiaries are principally engaged in the operation of membership warehouses in the U.S., Canada, Mexico (see Note 1), the United Kingdom, Japan, and Australia and through majority-owned subsidiaries in Taiwan and Korea. The Company’s reportable segments are largely based on management’s organization of the operating segments for operational decisions and assessments of financial performance, which considers geographic locations. As discussed in Note 1, the Company began consolidating Mexico on August 30, 2010. For segment reporting, these operations are included as a component of other international operations for 2012 and 2011. For 2010, Mexico is only included in total assets under U.S. operations in the table below, representing the equity method investment in the joint venture. The material accounting policies of the segments are the same as those described in Note 1. All material inter-segment net sales and expenses have been eliminated in computing total revenue and operating income. Certain home office operating expenses are incurred on behalf of the Company’s Canadian and other international operations, but are included in the U.S. operations because those costs are not allocated internally and generally come under the responsibility of the Company’s U.S. management team.
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