Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Costco Wholesale Corp., consolidated income statement

US$ in millions

12 months ended:	Sep 1, 2024	Sep 3, 2023	Aug 28, 2022	Aug 29, 2021	Aug 30, 2020	Sep 1, 2019
Net sales	249,625)	237,710)	222,730)	192,052)	163,220)	149,351)
Merchandise costs	(222,358)	(212,586)	(199,382)	(170,684)	(144,939)	(132,886)
Gross margin	27,267)	25,124)	23,348)	21,368)	18,281)	16,465)
Membership fees	4,828)	4,580)	4,224)	3,877)	3,541)	3,352)
Selling, general and administrative	(22,810)	(21,590)	(19,779)	(18,537)	(16,387)	(15,080)
Operating income	9,285)	8,114)	7,793)	6,708)	5,435)	4,737)
Interest expense	(169)	(160)	(158)	(171)	(160)	(150)
Interest income	533)	470)	61)	41)	89)	126)
Foreign-currency transaction gains, net	26)	29)	106)	56)	7)	27)
Other, net	65)	34)	38)	46)	(4)	25)
Interest income and other, net	624)	533)	205)	143)	92)	178)
Other income (expense)	455)	373)	47)	(28)	(68)	28)
Income before income taxes	9,740)	8,487)	7,840)	6,680)	5,367)	4,765)
Provision for income taxes	(2,373)	(2,195)	(1,925)	(1,601)	(1,308)	(1,061)
Net income including noncontrolling interests	7,367)	6,292)	5,915)	5,079)	4,059)	3,704)
Net income attributable to noncontrolling interests	—)	—)	(71)	(72)	(57)	(45)
Net income attributable to Costco	7,367)	6,292)	5,844)	5,007)	4,002)	3,659)

Based on: 10-K (reporting date: 2024-09-01), 10-K (reporting date: 2023-09-03), 10-K (reporting date: 2022-08-28), 10-K (reporting date: 2021-08-29), 10-K (reporting date: 2020-08-30), 10-K (reporting date: 2019-09-01).

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Income statement item	Description	The company
Net sales	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Costco Wholesale Corp. net sales increased from 2022 to 2023 and from 2023 to 2024.
Operating income	The net result for the period of deducting operating expenses from operating revenues.	Costco Wholesale Corp. operating income increased from 2022 to 2023 and from 2023 to 2024.
Income before income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Costco Wholesale Corp. income before income taxes increased from 2022 to 2023 and from 2023 to 2024.
Net income attributable to Costco	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Costco Wholesale Corp. net income attributable to Costco increased from 2022 to 2023 and from 2023 to 2024.

Costco Wholesale Corp. (NASDAQ:COST)

Income Statement