Equity and Comprehensive Income

3 Months Ended

Nov. 25, 2012

Equity and Comprehensive Income

Note 5—Equity and Comprehensive Income

Dividends

The Company’s current quarterly dividend rate is $0.275 per share, compared to $0.24 per share in the first quarter of 2012.

Stock Repurchase Programs

The Company’s stock repurchase activity during the first quarter of 2013 and 2012 is summarized below:

	Shares Repurchased (000’s)		Average Price per Share		Total Cost
2013		357	$	96.41	$	34
2012		2,122	$	81.54	$	173

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 the quarter. The remaining amount available for stock repurchases under the approved plans was $3,055 at November 25, 2012. 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.

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 not a total ownership interest:

	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 restricted stock units (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

	Attributable to Costco			Noncontrolling Interests			Total Equity
Equity at August 28, 2011	$	12,002		$	571		$	12,573
Comprehensive income:
Net income		320			8			328
Foreign-currency translation adjustment and other, net		(168	)		(41	)		(209	)
Comprehensive income		152			(33	)		119
Stock-based compensation		76			0			76
Stock options exercised, including tax effects		60			0			60
Release of vested RSUs, including tax effects		(104	)		0			(104	)
Conversion of convertible notes		1			0			1
Repurchases of common stock		(173	)		0			(173	)
Cash dividends declared		(105	)		0			(105	)
Equity at November 20, 2011	$	11,909		$	538		$	12,447