COSTCO WHOLESALE CORP /NEW, 10-Q filed on 3/13/2024
Quarterly Report
v3.24.0.1
Cover - shares
 6 Months Ended
Feb. 18, 2024
Mar. 06, 2024
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Feb. 18, 2024  
Document Fiscal Year Focus 2024  
Document Transition Report false  
Entity File Number 0-20355  
Entity Registrant Name COSTCO WHOLESALE CORP /NEW  
Entity Incorporation, State or Country Code WA  
Entity Tax Identification Number 91-1223280  
Entity Address, Address Line One 999 Lake Drive  
Entity Address, City or Town Issaquah  
Entity Address, State or Province WA  
Entity Address, Postal Zip Code 98027  
City Area Code 425  
Local Phone Number 313-8100  
Title of 12(b) Security Common Stock, $.005 Par Value  
Trading Symbol COST  
Security Exchange Name NASDAQ  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   443,504,036
Amendment Flag false  
Document Fiscal Period Focus Q2  
Entity Central Index Key 0000909832  
Current Fiscal Year End Date --09-01  
v3.24.0.1
Condensed Consolidated Statements Of Income - USD ($)
shares in Thousands, $ in Millions
 3 Months Ended 6 Months Ended
Feb. 18, 2024
Feb. 12, 2023
Feb. 18, 2024
Feb. 12, 2023
REVENUE        
Total Revenue $ 58,442 $ 55,266 $ 116,241 $ 109,703
OPERATING EXPENSES        
Merchandise costs 51,140 48,423 101,597 96,192
Selling, general and administrative 5,240 4,940 10,598 9,857
Operating income 2,062 1,903 4,046 3,654
OTHER INCOME (EXPENSE)        
Interest expense (41) (34) (79) (68)
Interest income and other, net 216 114 376 167
INCOME BEFORE INCOME TAXES 2,237 1,983 4,343 3,753
Provision for income taxes 494 517 1,011 923
NET INCOME $ 1,743 $ 1,466 $ 3,332 $ 2,830
NET INCOME PER COMMON SHARE:        
Basic (in dollars per share) $ 3.93 $ 3.30 $ 7.51 $ 6.37
Diluted (in dollars per share) $ 3.92 $ 3.30 $ 7.49 $ 6.37
Shares used in calculation (000's)        
Basic (shares) 443,892 443,877 443,859 443,857
Diluted (shares) 444,754 444,475 444,579 444,503
Net Sales        
REVENUE        
Total Revenue $ 57,331 $ 54,239 $ 114,048 $ 107,676
Membership fees        
REVENUE        
Total Revenue $ 1,111 $ 1,027 $ 2,193 $ 2,027
v3.24.0.1
Condensed Consolidated Statements Of Comprehensive Income - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Feb. 18, 2024
Feb. 12, 2023
Feb. 18, 2024
Feb. 12, 2023
Statement of Comprehensive Income [Abstract]        
NET INCOME $ 1,743 $ 1,466 $ 3,332 $ 2,830
Foreign-currency translation adjustment and other, net 1 253 (37) 157
COMPREHENSIVE INCOME $ 1,744 $ 1,719 $ 3,295 $ 2,987
v3.24.0.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Feb. 18, 2024
Sep. 03, 2023
CURRENT ASSETS    
Cash and cash equivalents $ 9,095 $ 13,700
Short-term investments 1,226 1,534
Receivables, net 2,779 2,285
Merchandise inventories 17,075 16,651
Other current assets 1,971 1,709
Total current assets 32,146 35,879
OTHER ASSETS    
Property and equipment, net 27,601 26,684
Operating lease right-of-use assets 2,740 2,713
Other long-term assets 3,836 3,718
TOTAL ASSETS 66,323 68,994
CURRENT LIABILITIES    
Accounts payable 17,494 17,483
Accrued salaries and benefits 4,801 4,278
Accrued member rewards 2,268 2,150
Deferred membership fees 2,541 2,337
Current portion of long-term debt [1] 1,080 1,081
Other current liabilities 6,504 6,254
Total current liabilities 34,688 33,583
OTHER LIABILITIES    
Long-term debt, excluding current portion 5,865 5,377
Long-term operating lease liabilities 2,488 2,426
Other long-term liabilities 2,522 2,550
TOTAL LIABILITIES 45,563 43,936
EQUITY    
Preferred stock $0.005 par value; 100,000,000 shares authorized; no shares issued and outstanding 0 0
Common stock $0.005 par value; 900,000,000 shares authorized; 443,549,000 and 442,793,000 shares issued and outstanding 2 2
Additional paid-in capital 7,620 7,340
Accumulated other comprehensive loss (1,842) (1,805)
Retained earnings 14,980 19,521
TOTAL EQUITY 20,760 25,058
TOTAL LIABILITIES AND EQUITY $ 66,323 $ 68,994
[1] Net of unamortized debt discounts and issuance costs
v3.24.0.1
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares
Feb. 18, 2024
Sep. 03, 2023
Statement of Financial Position [Abstract]    
Preferred stock, par value (in dollars per share) $ 0.005 $ 0.005
Preferred stock, shares authorized 100,000,000 100,000,000
Preferred stock, shares issued 0 0
Preferred stock, shares outstanding 0 0
Common stock, par value (in dollars per share) $ 0.005 $ 0.005
Common stock, shares authorized 900,000,000 900,000,000
Common Stock, Shares, Issued 443,549,000 442,793,000
Common Stock, Shares, Outstanding 443,549,000 442,793,000
v3.24.0.1
Consolidated Statement of Stockholders' Equity Statement - USD ($)
shares in Thousands, $ in Millions
Total
Common Stock [Member]
Additional Paid-in Capital [Member]
AOCI Attributable to Parent [Member]
Retained Earnings [Member]
Parent [Member]
Noncontrolling Interest [Member]
Common Stock at beginning of period (shares) at Aug. 28, 2022   442,664          
Equity at beginning of period at Aug. 28, 2022   $ 2 $ 6,884 $ (1,829) $ 15,585 $ 20,642  
Equity at beginning of period including noncontrolling interest at Aug. 28, 2022 $ 20,647           $ 5
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
NET INCOME 2,830       2,830 2,830  
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest 2,830           0
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax 157     157   157 0
APIC, Share-based Payment Arrangement, Increase for Cost Recognition 551   551     551  
Stock Issued During Period, Shares, Restricted Stock Award, Gross   1,465          
Stock Issued During Period, Value, Stock Options Exercised $ (302)   (302)     (302)  
Stock Repurchased and Retired During Period, Shares (579) (579)          
Stock Repurchased and Retired During Period, Value $ (285)   (10)   (275) (285)  
Cash dividends declared (799)       (799) (799)  
Common Stock at end of period (shares) at Feb. 12, 2023   443,550          
Equity at end of period at Feb. 12, 2023   $ 2 7,123 (1,672) 17,341 22,794  
Equity at end of period including noncontrolling interest at Feb. 12, 2023 22,799           5
Common Stock at beginning of period (shares) at Nov. 20, 2022   443,841          
Equity at beginning of period at Nov. 20, 2022   $ 2 6,982 (1,925) 16,412 21,471  
Equity at beginning of period including noncontrolling interest at Nov. 20, 2022 21,476           5
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
NET INCOME 1,466       1,466 1,466  
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest 1,466           0
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax 253     253   253 0
APIC, Share-based Payment Arrangement, Increase for Cost Recognition 148   148     148  
Stock Issued During Period, Shares, Restricted Stock Award, Gross   3          
Stock Issued During Period, Value, Stock Options Exercised $ (1)   (1)     (1)  
Stock Repurchased and Retired During Period, Shares (294) (294)          
Stock Repurchased and Retired During Period, Value $ (144)   (6)   (138) (144)  
Cash dividends declared (399)       (399) (399)  
Common Stock at end of period (shares) at Feb. 12, 2023   443,550          
Equity at end of period at Feb. 12, 2023   $ 2 7,123 (1,672) 17,341 22,794  
Equity at end of period including noncontrolling interest at Feb. 12, 2023 $ 22,799           5
Common Stock at beginning of period (shares) at Sep. 03, 2023 442,793 442,793          
Equity at beginning of period at Sep. 03, 2023 $ 25,058 $ 2 7,340 (1,805) 19,521 25,058  
Equity at beginning of period including noncontrolling interest at Sep. 03, 2023 25,058           0
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
NET INCOME 3,332       3,332 3,332  
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest 3,332           0
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax (37)     (37)   (37) 0
APIC, Share-based Payment Arrangement, Increase for Cost Recognition 582   582     582  
Stock Issued During Period, Shares, Restricted Stock Award, Gross   1,284          
Stock Issued During Period, Value, Stock Options Exercised $ (292)   (292)     (292)  
Stock Repurchased and Retired During Period, Shares (528) (528)          
Stock Repurchased and Retired During Period, Value $ (322)   (10)   (312) (322)  
Cash dividends declared $ (7,561)       (7,561) (7,561)  
Common Stock at end of period (shares) at Feb. 18, 2024 443,549 443,549          
Equity at end of period at Feb. 18, 2024 $ 20,760 $ 2 7,620 (1,842) 14,980 20,760  
Equity at end of period including noncontrolling interest at Feb. 18, 2024 20,760           0
Common Stock at beginning of period (shares) at Nov. 26, 2023   443,787          
Equity at beginning of period at Nov. 26, 2023   $ 2 7,489 (1,843) 20,499 26,147  
Equity at beginning of period including noncontrolling interest at Nov. 26, 2023 26,147           0
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
NET INCOME 1,743       1,743 1,743  
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest 1,743           0
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax 1     1   1 0
APIC, Share-based Payment Arrangement, Increase for Cost Recognition 136   136     136  
Stock Issued During Period, Shares, Restricted Stock Award, Gross   2          
Stock Issued During Period, Value, Stock Options Exercised $ 0   0     0  
Stock Repurchased and Retired During Period, Shares (240) (240)          
Stock Repurchased and Retired During Period, Value $ (160)   (5)   (155) (160)  
Cash dividends declared $ (7,107)       (7,107) (7,107)  
Common Stock at end of period (shares) at Feb. 18, 2024 443,549 443,549          
Equity at end of period at Feb. 18, 2024 $ 20,760 $ 2 $ 7,620 $ (1,842) $ 14,980 $ 20,760  
Equity at end of period including noncontrolling interest at Feb. 18, 2024 $ 20,760           $ 0
v3.24.0.1
Condensed Consolidated Statements Of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Feb. 18, 2024
Feb. 12, 2023
Adjustments to reconcile net income to net cash provided by operating activities:    
NET INCOME $ 3,332 $ 2,830
Depreciation and amortization 1,015 917
Non-cash lease expense 148 216
Stock-based compensation 580 549
Impairment of assets and other non-cash operating activities, net (7) 145
Changes in operating assets and liabilities:    
Merchandise inventories (425) 1,849
Accounts payable 4 (1,417)
Other operating assets and liabilities, net 735 713
Net cash provided by operating activities 5,382 5,802
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of short-term investments (719) (396)
Maturities of short-term investments 1,029 512
Additions to property and equipment (2,071) (1,947)
Other investing activities, net 9 (34)
Net cash used in investing activities (1,752) (1,865)
CASH FLOWS FROM FINANCING ACTIVITIES    
Repayments of short-term borrowings (409) (520)
Proceeds from short-term borrowings 383 479
Proceeds from issuance of long-term debt 498 0
Tax withholdings on stock-based awards (292) (302)
Repurchases of common stock (322) (284)
Cash dividend payments (8,012) (400)
Financing lease payments (94) (158)
Other financing activities, net (2) (30)
Net cash used in financing activities (8,250) (1,215)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS 15 45
Net change in cash and cash equivalents (4,605) 2,767
CASH AND CASH EQUIVALENTS BEGINNING OF YEAR 13,700 10,203
CASH AND CASH EQUIVALENTS END OF PERIOD 9,095 12,970
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Interest 62 62
Income taxes, net 1,197 636
SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES:    
Cash dividend declared, but not yet paid 0 399
Financing lease assets obtained in exchange for new or modified leases 97 47
Operating lease assets obtained in exchange for new or modified leases 145 131
Capital Expenditures Incurred but Not yet Paid $ 144 $ 11
v3.24.0.1
Summary of Significant Accounting Policies
 6 Months Ended
Feb. 18, 2024
Accounting Policies [Abstract]  
Summary of Significant Policies
Note 1—Summary of Significant Accounting Policies
Description of Business
Costco Wholesale Corporation (Costco or the Company), a Washington corporation, and its subsidiaries operate membership warehouses based on the concept that offering members low prices on a limited selection of nationally-branded and private-label products in a wide range of merchandise categories will produce high sales volumes and rapid inventory turnover. At February 18, 2024, Costco operated 874 warehouses worldwide: 602 in the United States (U.S.) located in 47 states, Washington, D.C., and Puerto Rico, 108 in Canada, 40 in Mexico, 33 in Japan, 29 in the United Kingdom (U.K.), 18 in Korea, 15 in Australia,14 in Taiwan, six in China, four in Spain, two in France, and one each in Iceland, New Zealand, and Sweden. The Company operates e-commerce websites in the U.S., Canada, the U.K., Mexico, Korea, Taiwan, Japan, and Australia.
Basis of Presentation
The condensed consolidated financial statements include the accounts of Costco and its wholly-owned subsidiaries. All material inter-company transactions among the Company and its consolidated subsidiaries have been eliminated in consolidation.
These unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q for interim financial reporting pursuant to the rules and regulations of the Securities and Exchange Commission (SEC). While these statements reflect all normal recurring adjustments that are, in the opinion of management, necessary for fair presentation of the results of the interim period, they do not include all of the information and footnotes required by U.S. generally accepted accounting principles (U.S. GAAP) for complete financial statements. Therefore, the interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in the Company's Annual Report on Form 10-K for the fiscal year ended September 3, 2023.
Fiscal Year End
The Company operates on a 52/53 week fiscal year basis, with the fiscal year ending on the Sunday closest to August 31. Fiscal 2024 is a 52-week year ending on September 1, 2024. References to the second quarter of 2024 and 2023 relate to the 12-week fiscal quarters ended February 18, 2024, and February 12, 2023. References to the first half of 2024 and 2023 relate to the 24 weeks ended February 18, 2024 and February 12, 2023.
Use of Estimates
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates and assumptions take into account historical and forward-looking factors that the Company believes are reasonable. Actual results could differ from those estimates and assumptions.
Reclassification
Reclassifications were made to the condensed consolidated statement of cash flows for the first half of fiscal 2023 to conform with current year presentation.
Recent Accounting Pronouncements Not Yet Adopted
In November 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-07, which is intended to improve reportable segment disclosure requirements, primarily through additional disclosures about significant segment expenses. The standard is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The amendments should be applied retrospectively to all prior periods presented in the financial statements. The Company is evaluating the new standard.
In December 2023, the FASB issued ASU 2023-09, which focuses on income tax disclosures by requiring public business entities, on an annual basis, to disclose specific categories in the rate reconciliation, provide information for reconciling items that meet a quantitative threshold, and certain information about income taxes paid. The standard is effective for annual periods beginning after December 15, 2024, with early adoption permitted. The amendments should be applied on a prospective basis. Retrospective application is permitted. The Company is evaluating the new standard.
v3.24.0.1
Investments
 6 Months Ended
Feb. 18, 2024
Investments, Debt and Equity Securities [Abstract]  
Investments
Note 2—Investments
The Company's investments were as follows:
February 18, 2024:Cost
Basis		Unrealized
Losses, Net		Recorded
Basis
Available-for-sale:
Government and agency securities$678 $(13)$665 
Held-to-maturity:
Certificates of deposit561 — 561 
Total short-term investments$1,239 $(13)$1,226 
September 3, 2023:Cost
Basis		Unrealized
Losses, Net		Recorded
Basis
Available-for-sale:
Government and agency securities$650 $(17)$633 
Held-to-maturity:
Certificates of deposit901 — 901 
Total short-term investments$1,551 $(17)$1,534 
Gross unrecognized holding gains and losses on available-for-sale securities were not material for the periods ended February 18, 2024, or September 3, 2023. At those dates, there were no available-for-sale securities in a material continuous unrealized-loss position. There were no sales of available-for-sale securities during the first half of 2024 or 2023.
The maturities of available-for-sale and held-to-maturity securities at February 18, 2024, are as follows:
 Available-For-SaleHeld-To-Maturity
 Cost BasisFair Value
Due in one year or less$136 $135 $561 
Due after one year through five years370 365 — 
Due after five years172 165 — 
Total$678 $665 $561 
v3.24.0.1
Fair Value Measurement
 6 Months Ended
Feb. 18, 2024
Fair Value Disclosures [Abstract]  
Fair Value Measurement
Note 3—Fair Value Measurement
Assets and Liabilities Measured at Fair Value on a Recurring Basis
The table below presents information regarding the Company’s financial assets and financial liabilities that are measured at fair value on a recurring basis and indicates the level within the hierarchy reflecting the valuation techniques utilized.
Level 2
February 18,
2024		September 3,
2023
Investment in government and agency securities(1)
$669 $633 
Forward foreign-exchange contracts, in asset position(2)
12 18 
Forward foreign-exchange contracts, in (liability) position(2)
(4)(7)
Total$677 $644 
 _______________
(1)At February 18, 2024, $4 cash and cash equivalents and $665 short-term investments are included in the accompanying condensed consolidated balance sheets.
(2)The asset and liability values are included in other current assets and other current liabilities, respectively, in the accompanying condensed consolidated balance sheets.
At February 18, 2024, and September 3, 2023, the Company did not hold any Level 1 or 3 financial assets or liabilities that were measured at fair value on a recurring basis. There were no transfers between levels during the first half of 2024 or 2023.
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis
Assets and liabilities recognized and disclosed at fair value on a nonrecurring basis include items such as financial assets measured at amortized cost and long-lived nonfinancial assets. These assets are measured at fair value if determined to be impaired. There were no material fair value adjustments to these items during the first half of 2024. During the first quarter of 2023, the Company recognized in merchandise costs a charge of $93, primarily related to the impairment of certain leased assets associated with charter shipping activities, now discontinued.
v3.24.0.1
Debt
 6 Months Ended
Feb. 18, 2024
Debt Disclosure [Abstract]  
Debt
Note 4—Debt
The carrying value of the Company’s long-term debt consisted of the following:
February 18,
2024		September 3,
2023
2.750% Senior Notes due May 2024
$1,000 $1,000 
3.000% Senior Notes due May 2027
1,000 1,000 
1.375% Senior Notes due June 2027
1,250 1,250 
1.600% Senior Notes due April 2030
1,750 1,750 
1.750% Senior Notes due April 2032
1,000 1,000 
Other long-term debt969 484 
Total long-term debt
6,969 6,484 
Less unamortized debt discounts and issuance costs
24 26 
Less current portion(1)
1,080 1,081 
Long-term debt, excluding current portion
$5,865 $5,377 
 _______________
(1)Net of unamortized debt discounts and issuance costs.
The fair value of the Senior Notes is estimated using Level 2 inputs. Other long-term debt consists of Guaranteed Senior Notes issued by the Company's Japan subsidiary, valued using Level 3 inputs. In November 2023, the Company's Japan subsidiary issued four Guaranteed Senior Notes, totaling approximately $500, at fixed interest rates ranging from 1.400% to 2.120%. Interest is payable semi-annually, and maturity dates range from November 7, 2033, to November 7, 2043. The fair value of the Company's long-term debt, including the current portion, was approximately $6,306 and $5,738 at February 18, 2024, and September 3, 2023.
v3.24.0.1
Equity
 3 Months Ended
Feb. 18, 2024
Equity [Abstract]  
Stockholders' equity
Note 5—Equity
Dividends
A quarterly cash dividend of $1.02 per share was declared on January 18, 2024, and paid on February 16, 2024. The dividend was $0.90 per share in the second quarter of 2023. On January 12, 2024, an aggregate payment of approximately $6,655 was made in connection with a special cash dividend of $15.00 per share, declared on December 13, 2023.
Stock Repurchase Programs
The Company's stock repurchase program is conducted under a $4,000 authorization by the Board of Directors, which expires in January 2027. At February 18, 2024, the remaining amount available under the program was $3,241. The following table summarizes the repurchase activity:
Shares Repurchased (000s)Average Price per ShareTotal Cost
Second quarter of 2024240 $664.02 $160 
First half of 2024528 $609.51 $322 
Second quarter of 2023294 $488.30 $144 
First half of 2023579 $492.06 $285 
These amounts may differ from the accompanying condensed consolidated statements of cash flows due to changes in unsettled stock repurchases at the end of each 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.
v3.24.0.1
Stock-Based Compensation Plans
 6 Months Ended
Feb. 18, 2024
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Plans
Note 6—Stock-Based Compensation
The 2019 Incentive Plan authorized the issuance of up to a maximum of 15,885,000 RSUs. To preserve the value of outstanding awards, the number of RSUs that may be granted under this Plan is subject to adjustments from changes in capital structure. The Company issues new shares of common stock upon vesting of RSUs. Shares for vested RSUs are generally delivered to participants annually, net of shares withheld for taxes.
As required by the 2019 Incentive Plan, in conjunction with the 2024 special cash dividend, the number of shares subject to outstanding RSUs was increased on the dividend record date to preserve their value. They were adjusted by multiplying the number of outstanding shares by a factor of 1.018, representing the ratio of the Nasdaq closing price of $674.62 on December 26, 2023, which was the last trading day immediately prior to the ex-dividend date, to the Nasdaq opening price of $662.70 on the ex-dividend date, December 27, 2023. The outstanding RSUs increased by approximately 52,000. The adjustment did not result in additional stock-based compensation expense, as the fair value of the awards did not change. As further required by the 2019 Incentive Plan, the maximum number of shares issuable under the plan was proportionally adjusted, which resulted in an additional 128,000 RSU shares available to be granted.
Summary of Restricted Stock Unit Activity
At February 18, 2024, 7,249,000 shares were available to be granted as RSUs, and the following awards, adjusted for the effects of the special dividend, were outstanding:
•2,749,000 time-based RSUs, which vest upon continued employment over specified periods and accelerate upon achievement of a long-service term;
•70,000 performance-based RSUs granted to executive officers of the Company, for which the performance targets have been met. The awards vest upon continued employment over specified periods of time and upon achievement of a long-service term; and
•91,000 performance-based RSUs granted to executive officers of the Company, subject to achievement of performance targets for 2024, as determined by the Compensation Committee of the Board of Directors after the end of the fiscal year. These awards are included in the table below. The Company recognized compensation expense for these awards in the second quarter of 2024, as it is currently deemed probable that the targets will be achieved.
The following table summarizes RSU transactions during the first half of 2024:
Number of
Units (in 000s)		Weighted-Average
Grant Date Fair Value
Outstanding at September 3, 20233,045 $405.63 
Granted1,663 545.98 
Vested and delivered(1,813)430.54 
Forfeited(37)454.02 
Special cash dividend52 N/A
Outstanding at February 18, 20242,910 $462.35 
The remaining unrecognized compensation cost related to RSUs unvested at February 18, 2024, was $1,098, and the weighted-average period over which this cost will be recognized is 1.8 years.
Summary of Stock-Based Compensation
The following table summarizes stock-based compensation expense and the related tax benefits:
12 Weeks Ended24 Weeks Ended
February 18,
2024		February 12,
2023		February 18,
2024		February 12,
2023
Stock-based compensation expense
$136 $147 $580 $549 
Less recognized income tax benefits25 24 120 113 
Stock-based compensation expense, net$111 $123 $460 $436 
v3.24.0.1
Net Income per Common and Common Equivalent Share
 6 Months Ended
Feb. 18, 2024
Earnings Per Share [Abstract]  
Net Income Per Common and Common Equivalent Share
Note 7—Net Income per Common and Common Equivalent Share
The following table shows the amounts used in computing net income per share and the weighted average number of shares of basic and of potentially dilutive common shares outstanding (shares in 000s):
12 Weeks Ended24 Weeks Ended
February 18,
2024		February 12,
2023		February 18,
2024		February 12,
2023
Net income
$1,743 $1,466 $3,332 $2,830 
Weighted average basic shares
443,892 443,877 443,859 443,857 
RSUs862 598 720 646 
Weighted average diluted shares
444,754 444,475 444,579 444,503 
Anti-dilutive RSUs
— 6 — — 
Anti-dilutive shares are excluded from the calculation of diluted shares and earnings per diluted share because their impact would increase earnings per diluted shares.
Basic earnings per share is calculated by dividing net income by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share is calculated based on the dilutive effect of RSUs using the treasury stock method.
v3.24.0.1
Commitments and Contingencies
 6 Months Ended
Feb. 18, 2024
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies
Note 8—Commitments and Contingencies
Legal Proceedings
The Company is involved in many claims, proceedings and litigations arising from its business and property ownership. In accordance with applicable accounting guidance, the Company establishes an accrual for legal proceedings if and when those matters present loss contingencies that are both probable and reasonably estimable. There may be losses in excess of amounts accrued. The Company monitors those matters for developments that would affect the likelihood of a loss (taking into account where applicable indemnification arrangements concerning suppliers and insurers) and the accrued amount, if any, thereof, and adjusts the amount as appropriate. The Company has recorded immaterial accruals with respect to certain matters described below, in addition to other immaterial accruals for matters not described below. If the loss contingency at issue is not both probable and reasonably estimable, the Company does not establish an accrual, but monitors for developments that make the contingency both probable and reasonably estimable. In each case, there is a reasonable possibility that a loss may be incurred, including a loss in excess of the applicable accrual. For matters where no accrual has been recorded, the possible loss or range of loss (including any loss in excess of the accrual) cannot, in the Company's view, be reasonably estimated because, among other things: the remedies or penalties sought are indeterminate or unspecified; the legal and/or factual theories are not well developed; and/or the matters involve complex or novel legal theories or a large number of parties.
In November 2023, a former employee filed a class action against the Company alleging claims under California law for failure to pay minimum wage, failure to pay overtime, failure to provide meal and rest breaks, failure to provide accurate wage statements, failure to reimburse expenses, failure to pay wages when due, and failure to pay sick pay. Martin Reyes v. Costco Wholesale Corporation, Sacramento County Superior Court. (Case No. 23cv011351). An amended complaint has been filed, as to which the Company has yet to respond.
In October 2023, current and former employees filed suit against the Company asserting collective and class claims on behalf of all “Junior Managers” under the Fair Labor Standards Act and New York Labor Law, for failure to pay overtime compensation and for inaccurate wage statements under New York law.
Lock et al. v. Costco Wholesale Corp. (Case No. 2:23-cv-07904; E.D.N.Y.). On February 1, 2024, the Company served a motion to dismiss the inaccurate wage-statement claim.
In October 2023, a current employee filed suit against the Company asserting collective and class claims on behalf of all “supervisors” employed in New Jersey, under the Fair Labor Standards Act and New Jersey Wage and Hour Law for failure to pay all hours worked. Shah v. Costco Wholesale Corp. (Case No. 2:23-cv-21286; D.N.J.). On December 26, 2023, the Company filed its answer, denying all claims.
In July 2021, a former temporary staffing employee filed a class action against the Company and a staffing company, alleging violations of the California Labor Code regarding payment of wages, meal and rest periods, wage statements, the timeliness of wages and final wages, and for unfair business practices. Dimas v. Costco Wholesale Corp. (Case No. STK-CV-UOE-2021-0006024; San Joaquin Superior Court). The Company has moved to compel arbitration of the plaintiff's individual claims and to dismiss the class action complaint. On September 7, 2021, the same plaintiff filed a separate representative action under the California Private Attorneys General Act, asserting the same Labor Code violations and seeking civil penalties and attorneys' fees. The case has been stayed pending arbitration of the plaintiff's individual claims.
In May 2022, an employee filed an action under the California Private Attorneys General Act against the Company, alleging claims under the California Labor Code regarding the payment of wages, meal and rest periods, the timeliness of wages and final wages, wage statements, accurate records and business expenses. Gonzalez v. Costco Wholesale Corp. (Case No. 22AHCV00255; Los Angeles Superior Court). The Company filed an answer denying the allegations. On October 31, 2023, a settlement was reached for an immaterial amount. A hearing on preliminary approval of the settlement is scheduled for April 23, 2024.
Beginning in December 2017, the United States Judicial Panel on Multidistrict Litigation consolidated numerous cases concerning the impacts of opioid abuses filed against various defendants by counties, cities, hospitals, Native American tribes, third-party payors, and others. In re National Prescription Opiate Litigation (MDL No. 2804) (N.D. Ohio). Included are cases filed against the Company by counties and cities in Michigan, New Jersey, Oregon, Virginia and South Carolina, a third-party payor in Ohio, and a hospital in Texas, class actions filed on behalf of infants born with opioid-related medical conditions in 40 states, and class actions and individual actions filed on behalf of individuals seeking to recover alleged increased insurance costs associated with opioid abuse in 43 states and American Samoa. Claims against the Company filed in federal court outside the MDL have been asserted by certain counties and cities in Florida and Georgia; claims filed by certain cities and counties in New York are pending in state court. Claims against the Company in state courts in New Jersey, Oklahoma, Utah, and Arizona have been dismissed. The Company is defending all of the pending matters.
Members of the Board of Directors, six corporate officers and the Company were defendants in a shareholder derivative action filed in June 2022 related to chicken welfare and alleged breaches of fiduciary duties. Smith, et ano. v. Vachris, et al., Superior Court of the State of Washington, County of King, No, 22-2-08937-7SEA. The complaint sought from the individual defendants' damages, injunctive relief, costs, and attorneys' fees. On March 28, 2023, the court granted the defendants' motion to dismiss the action. The plaintiffs subsequently made a demand that the Board of Directors take various actions, including among other things, pursuing claims against directors and officers of the type asserted in the litigation. A demand review committee of the Board has been appointed to make a recommendation to the Board as to the demand.
In February 2023, Go Green Norcal, LLC filed an arbitration demand against the Company. The demand alleged a breach of a supply agreement and sought unspecified damages and cancellation of a loan from the Company. In March 2023, the Company filed its answer, denying any breach by the Company, along with counterclaims against Go Green and an affiliate for breach of contract, negligent misrepresentation, and an accounting. In August 2023 the plaintiff asserted that its damages exceed $70 million. An award to the plaintiffs of an immaterial amount was paid in February 2024.
Between September 25, 2023, and October 31, 2023, five class action suits were filed against the Company alleging various privacy law violations stemming from pixel trackers on Costco.com. Birdwell v. Costco Wholesale Corp., Case No. T23-1405, Contra Costa County Superior Court; and Scott v. Costco Wholesale Corp., Case No. 2:23-cv-08808 (C.D. Cal.), now consolidated with R.S. v. Costco Wholesale Corp., Case No. 2:23-cv-01628 (W.D. Wash.); Groves, et ano. v. Costco Wholesale Corp., Case No. 2:23-cv-01662 (W.D. Wash.) and Castillo v. Costco Wholesale Corp., under Case No. 2:34-cv-01548 (W.D. Wash.). The Castillo plaintiffs filed a consolidated complaint on January 26, 2024, which seeks damages, equitable relief and attorneys’ fees under various statutes, including the Washington Consumer Protection Act, Washington Privacy Act, Washington Uniform Health Care Information Act, Electronic Communications Privacy Act, California Invasion of Privacy Act, and California Confidentiality of Medical Information Act. The consolidated complaint also alleges breach of implied contract, invasion of privacy, conversion and unjust enrichment. The Company filed a motion to dismiss and demurrer in Birdwell and has not responded to the Castillo consolidated complaint. On January 2, 2024, the Company received a related civil investigative demand from the Washington Attorney General's office. On January 3, 2024, the Company received a related pre-litigation letter from the Los Angeles Office of the County Counsel.
In October 2021 the Company received a notice that the Quebec Health Insurance Board had commenced an inquiry to determine whether the Company had given or received improper payments for drugs that are covered by the province's prescription drug program from drug wholesalers, generic drug manufacturers or the independent pharmacist who owns and operates the pharmacies located in the Company's Quebec locations. The inquiry covers a period beginning January 1, 2017.
In January 2023 the Company received a Civil Investigative Demand from the U.S. Attorney's Office, Western District of Washington, requesting documents. The government is conducting a False Claims Act investigation concerning whether the Company presented or caused to be presented to the federal government for payment false claims relating to prescription medications.
The Company does not believe that any pending claim, proceeding or litigation, either alone or in the aggregate, will have a material adverse effect on the Company’s financial position, results of operations or cash flows; it is possible that an unfavorable outcome of some or all of the matters, however unlikely, could result in a charge that might be material to the results of an individual fiscal quarter or year.
v3.24.0.1
Segment Reporting
 6 Months Ended
Feb. 18, 2024
Segment Reporting [Abstract]  
Segment Reporting
Note 9—Segment Reporting
The Company is principally engaged in the operation of membership warehouses through wholly owned subsidiaries in the U.S., Canada, Mexico, Japan, the U.K., Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden. Reportable segments are largely based on management’s organization of the operating segments for operational decisions and assessments of financial performance, which consider geographic locations. The material accounting policies of the segments are as described in the notes to the consolidated financial statements included in the Company's Annual Report filed on Form 10-K for the fiscal year ended September 3, 2023, and Note 1 above. Inter-segment net sales and expenses have been eliminated in calculating total revenue and operating income.
The following table provides information for the Company's reportable segments:
United StatesCanadaOther
International		Total
12 Weeks Ended February 18, 2024
Total revenue$41,952 $7,874 $8,616 $58,442 
Operating income1,294 390 378 2,062 
12 Weeks Ended February 12, 2023
Total revenue$40,145 $7,299 $7,822 $55,266 
Operating income1,295 284 324 1,903 
24 Weeks Ended February 18, 2024
Total revenue$83,785 $15,775 $16,681 $116,241 
Operating income2,652 715 679 4,046 
24 Weeks Ended February 12, 2023
Total revenue$80,290 $14,655 $14,758 $109,703 
Operating income2,531 572 551 3,654 
53 Weeks Ended September 3, 2023
Total revenue$176,630 $33,056 $32,604 $242,290 
Operating income5,392 1,448 1,274 8,114 
Disaggregated Revenue
The following table summarizes net sales by merchandise category; sales from e-commerce websites and business centers have been allocated to the applicable merchandise categories:
12 Weeks Ended24 Weeks Ended
February 18,
2024		February 12,
2023		February 18,
2024		February 12,
2023
Foods and Sundries$23,675 $21,926 $46,699 $43,374 
Non-Foods15,017 14,741 29,783 28,773 
Fresh Foods7,996 7,376 15,324 14,093 
Warehouse Ancillary and Other Businesses10,643 10,196 22,242 21,436 
Total net sales
$57,331 $54,239 $114,048 $107,676 
v3.24.0.1
Summary of Significant Accounting Policies (Policies)
 6 Months Ended
Feb. 18, 2024
Accounting Policies [Abstract]  
Basis of Accounting, Policy
Basis of Presentation
The condensed consolidated financial statements include the accounts of Costco and its wholly-owned subsidiaries. All material inter-company transactions among the Company and its consolidated subsidiaries have been eliminated in consolidation.
These unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q for interim financial reporting pursuant to the rules and regulations of the Securities and Exchange Commission (SEC). While these statements reflect all normal recurring adjustments that are, in the opinion of management, necessary for fair presentation of the results of the interim period, they do not include all of the information and footnotes required by U.S. generally accepted accounting principles (U.S. GAAP) for complete financial statements. Therefore, the interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in the Company's Annual Report on Form 10-K for the fiscal year ended September 3, 2023.
Fiscal Period, Policy
Fiscal Year End
The Company operates on a 52/53 week fiscal year basis, with the fiscal year ending on the Sunday closest to August 31. Fiscal 2024 is a 52-week year ending on September 1, 2024. References to the second quarter of 2024 and 2023 relate to the 12-week fiscal quarters ended February 18, 2024, and February 12, 2023. References to the first half of 2024 and 2023 relate to the 24 weeks ended February 18, 2024 and February 12, 2023.
Use of Estimates, Policy
Use of Estimates
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates and assumptions take into account historical and forward-looking factors that the Company believes are reasonable. Actual results could differ from those estimates and assumptions.
Reclassification, Policy
Reclassification
Reclassifications were made to the condensed consolidated statement of cash flows for the first half of fiscal 2023 to conform with current year presentation.
Recent Accounting Pronouncements Not Yet Adopted, Policy
Recent Accounting Pronouncements Not Yet Adopted
In November 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-07, which is intended to improve reportable segment disclosure requirements, primarily through additional disclosures about significant segment expenses. The standard is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The amendments should be applied retrospectively to all prior periods presented in the financial statements. The Company is evaluating the new standard.
In December 2023, the FASB issued ASU 2023-09, which focuses on income tax disclosures by requiring public business entities, on an annual basis, to disclose specific categories in the rate reconciliation, provide information for reconciling items that meet a quantitative threshold, and certain information about income taxes paid. The standard is effective for annual periods beginning after December 15, 2024, with early adoption permitted. The amendments should be applied on a prospective basis. Retrospective application is permitted. The Company is evaluating the new standard.
v3.24.0.1
Investments (Tables)
 6 Months Ended
Feb. 18, 2024
Investments, Debt and Equity Securities [Abstract]  
Available-for-sale and Held-to-maturity Investments
The Company's investments were as follows:
February 18, 2024:Cost
Basis		Unrealized
Losses, Net		Recorded
Basis
Available-for-sale:
Government and agency securities$678 $(13)$665 
Held-to-maturity:
Certificates of deposit561 — 561 
Total short-term investments$1,239 $(13)$1,226 
September 3, 2023:Cost
Basis		Unrealized
Losses, Net		Recorded
Basis
Available-for-sale:
Government and agency securities$650 $(17)$633 
Held-to-maturity:
Certificates of deposit901 — 901 
Total short-term investments$1,551 $(17)$1,534 
Maturities of Available-for-sale and Held-to-maturity Securities
The maturities of available-for-sale and held-to-maturity securities at February 18, 2024, are as follows:
 Available-For-SaleHeld-To-Maturity
 Cost BasisFair Value
Due in one year or less$136 $135 $561 
Due after one year through five years370 365 — 
Due after five years172 165 — 
Total$678 $665 $561 
v3.24.0.1
Fair Value Measurement (Tables)
 6 Months Ended
Feb. 18, 2024
Fair Value Disclosures [Abstract]  
Fair Value of Financial Assets and Liabilities Measured on Recurring Basis
Level 2
February 18,
2024		September 3,
2023
Investment in government and agency securities(1)
$669 $633 
Forward foreign-exchange contracts, in asset position(2)
12 18 
Forward foreign-exchange contracts, in (liability) position(2)
(4)(7)
Total$677 $644 
 _______________
(1)At February 18, 2024, $4 cash and cash equivalents and $665 short-term investments are included in the accompanying condensed consolidated balance sheets.
(2)The asset and liability values are included in other current assets and other current liabilities, respectively, in the accompanying condensed consolidated balance sheets.
v3.24.0.1
Debt (Tables)
 6 Months Ended
Feb. 18, 2024
Debt Disclosure [Abstract]  
Carrying Value and Estimated Fair Value of Company's Long-term Debt
The carrying value of the Company’s long-term debt consisted of the following:
February 18,
2024		September 3,
2023
2.750% Senior Notes due May 2024
$1,000 $1,000 
3.000% Senior Notes due May 2027
1,000 1,000 
1.375% Senior Notes due June 2027
1,250 1,250 
1.600% Senior Notes due April 2030
1,750 1,750 
1.750% Senior Notes due April 2032
1,000 1,000 
Other long-term debt969 484 
Total long-term debt
6,969 6,484 
Less unamortized debt discounts and issuance costs
24 26 
Less current portion(1)
1,080 1,081 
Long-term debt, excluding current portion
$5,865 $5,377 
 _______________
(1)Net of unamortized debt discounts and issuance costs.
v3.24.0.1
Equity (Tables)
 6 Months Ended
Feb. 18, 2024
Equity [Abstract]  
Stock Repurchased During Period The following table summarizes the repurchase activity:
Shares Repurchased (000s)Average Price per ShareTotal Cost
Second quarter of 2024240 $664.02 $160 
First half of 2024528 $609.51 $322 
Second quarter of 2023294 $488.30 $144 
First half of 2023579 $492.06 $285 
v3.24.0.1
Stock-Based Compensation Plans (Tables)
 6 Months Ended
Feb. 18, 2024
Share-Based Payment Arrangement [Abstract]  
Summary of RSU Transactions
The following table summarizes RSU transactions during the first half of 2024:
Number of
Units (in 000s)		Weighted-Average
Grant Date Fair Value
Outstanding at September 3, 20233,045 $405.63 
Granted1,663 545.98 
Vested and delivered(1,813)430.54 
Forfeited(37)454.02 
Special cash dividend52 N/A
Outstanding at February 18, 20242,910 $462.35 
Summary of Stock-Based Compensation Expense and Related Tax Benefits
The following table summarizes stock-based compensation expense and the related tax benefits:
12 Weeks Ended24 Weeks Ended
February 18,
2024		February 12,
2023		February 18,
2024		February 12,
2023
Stock-based compensation expense
$136 $147 $580 $549 
Less recognized income tax benefits25 24 120 113 
Stock-based compensation expense, net$111 $123 $460 $436 
v3.24.0.1
Net Income per Common and Common Equivalent Share (Tables)
 6 Months Ended
Feb. 18, 2024
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted
The following table shows the amounts used in computing net income per share and the weighted average number of shares of basic and of potentially dilutive common shares outstanding (shares in 000s):
12 Weeks Ended24 Weeks Ended
February 18,
2024		February 12,
2023		February 18,
2024		February 12,
2023
Net income
$1,743 $1,466 $3,332 $2,830 
Weighted average basic shares
443,892 443,877 443,859 443,857 
RSUs862 598 720 646 
Weighted average diluted shares
444,754 444,475 444,579 444,503 
Anti-dilutive RSUs
— 6 — — 
v3.24.0.1
Segment Reporting (Tables)
 6 Months Ended
Feb. 18, 2024
Segment Reporting [Abstract]  
Segment Reporting Information, by Segment
The following table provides information for the Company's reportable segments:
United StatesCanadaOther
International		Total
12 Weeks Ended February 18, 2024
Total revenue$41,952 $7,874 $8,616 $58,442 
Operating income1,294 390 378 2,062 
12 Weeks Ended February 12, 2023
Total revenue$40,145 $7,299 $7,822 $55,266 
Operating income1,295 284 324 1,903 
24 Weeks Ended February 18, 2024
Total revenue$83,785 $15,775 $16,681 $116,241 
Operating income2,652 715 679 4,046 
24 Weeks Ended February 12, 2023
Total revenue$80,290 $14,655 $14,758 $109,703 
Operating income2,531 572 551 3,654 
53 Weeks Ended September 3, 2023
Total revenue$176,630 $33,056 $32,604 $242,290 
Operating income5,392 1,448 1,274 8,114 
Disaggregation of Revenue [Table Text Block]
Disaggregated Revenue
The following table summarizes net sales by merchandise category; sales from e-commerce websites and business centers have been allocated to the applicable merchandise categories:
12 Weeks Ended24 Weeks Ended
February 18,
2024		February 12,
2023		February 18,
2024		February 12,
2023
Foods and Sundries$23,675 $21,926 $46,699 $43,374 
Non-Foods15,017 14,741 29,783 28,773 
Fresh Foods7,996 7,376 15,324 14,093 
Warehouse Ancillary and Other Businesses10,643 10,196 22,242 21,436 
Total net sales
$57,331 $54,239 $114,048 $107,676 
v3.24.0.1
Accounting Policies - Additional Information (Detail)
Feb. 18, 2024
warehouse
states
Summary Of Significant Accounting Policies [Line Items]  
Number of warehouses operated 874
UNITED STATES  
Summary Of Significant Accounting Policies [Line Items]  
Number of warehouses operated 602
Number of states in country | states 47
CANADA  
Summary Of Significant Accounting Policies [Line Items]  
Number of warehouses operated 108
MEXICO  
Summary Of Significant Accounting Policies [Line Items]  
Number of warehouses operated 40
JAPAN  
Summary Of Significant Accounting Policies [Line Items]  
Number of warehouses operated 33
UNITED KINGDOM  
Summary Of Significant Accounting Policies [Line Items]  
Number of warehouses operated 29
KOREA  
Summary Of Significant Accounting Policies [Line Items]  
Number of warehouses operated 18
AUSTRALIA  
Summary Of Significant Accounting Policies [Line Items]  
Number of warehouses operated 15
TAIWAN  
Summary Of Significant Accounting Policies [Line Items]  
Number of warehouses operated 14
CHINA  
Summary Of Significant Accounting Policies [Line Items]  
Number of warehouses operated 6
SPAIN  
Summary Of Significant Accounting Policies [Line Items]  
Number of warehouses operated 4
FRANCE  
Summary Of Significant Accounting Policies [Line Items]  
Number of warehouses operated 2
ICELAND  
Summary Of Significant Accounting Policies [Line Items]  
Number of warehouses operated 1
NEW ZEALAND  
Summary Of Significant Accounting Policies [Line Items]  
Number of warehouses operated 1
SWEDEN  
Summary Of Significant Accounting Policies [Line Items]  
Number of warehouses operated 1
v3.24.0.1
Investments - Available-for-sale and Held-to-maturity Investments (Detail) - USD ($)
$ in Millions
Feb. 18, 2024
Sep. 03, 2023
Available-for-sale and Held-to-maturity [Line Items]    
Available-for-sale, cost basis, total $ 678  
Debt Securities, Available-for-sale 665  
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss (13) $ (17)
Held-to-maturity, cost basis 561  
Total investments, cost basis, total 1,239 1,551
Short-term investments 1,226 1,534
Government and Agency Securities    
Available-for-sale and Held-to-maturity [Line Items]    
Available-for-sale, cost basis, total 678 650
Debt Securities, Available-for-sale 665 633
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss (13) (17)
Certificates of deposit    
Available-for-sale and Held-to-maturity [Line Items]    
Held-to-maturity, recorded basis, total 561 901
Held-to-maturity, cost basis $ 561 $ 901
v3.24.0.1
Investments - Maturities of Available-for-sale and Held-to-maturity Securities (Details)
$ in Millions
Feb. 18, 2024
USD ($)
Available-for-sale, Cost Basis  
Due in one year or less $ 136
Due after one year through five years 370
Due after five years 172
Available-for-sale, cost basis, total 678
Available-for-sale, Fair Value  
Due in one year or less 135
Due after one year through five years 365
Due after five years 165
Available-for-sale, recorded basis, total 665
Held-to-maturity  
Due in one year or less 561
Due after one year through five years 0
Due after five years 0
Held-to-maturity, cost basis, total $ 561
v3.24.0.1
Fair Value Measurement - Fair Value of Financial Assets and Financial Liabilities Measured on Recurring Basis (Details) - USD ($)
$ in Millions
 3 Months Ended
Nov. 20, 2022
Feb. 18, 2024
Sep. 03, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Cash and cash equivalents   $ 9,095 $ 13,700
Debt Securities, Available-for-sale   665  
Finance Lease, Impairment Loss $ 93    
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair value of assets measured on recurring basis   677 644
Government and Agency Securities      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Cash and cash equivalents   4  
Debt Securities, Available-for-sale   665 633
Government and Agency Securities | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair value of assets measured on recurring basis [1]   669 633
Forward Foreign-exchange Contracts | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair value of assets measured on recurring basis [2]   12 18
Fair value of liabilities measured on recurring basis [2]   $ (4) $ (7)
[1] At February 18, 2024, $4 cash and cash equivalents and $665 short-term investments are included in the accompanying condensed consolidated balance sheets.
[2] The asset and liability values are included in other current assets and other current liabilities, respectively, in the accompanying condensed consolidated balance sheets.
v3.24.0.1
Debt (Carrying Value and Estimated Fair Value of Company's Long-term Debt) (Details) - USD ($)
$ in Millions
 6 Months Ended
Feb. 18, 2024
Sep. 03, 2023
Debt Instrument [Line Items]    
Long-Term Debt, Gross $ 6,969 $ 6,484
Less unamortized debt discounts and issuance costs 24 26
Current portion of long-term debt [1] 1,080 1,081
Long-term debt, excluding current portion 5,865 5,377
Proceeds from Issuance of Other Long-Term Debt 500  
Long-term Debt, Fair Value $ 6,306 5,738
Minimum [Member]    
Debt Instrument [Line Items]    
Debt instrument, interest rate, stated percentage 1.40%  
Maximum [Member]    
Debt Instrument [Line Items]    
Debt instrument, interest rate, stated percentage 2.12%  
2.75% Senior Notes Due May 2024    
Debt Instrument [Line Items]    
Long-Term Debt, Gross $ 1,000 1,000
Debt instrument, interest rate, stated percentage 2.75%  
3.00% Senior Notes Due May 2027    
Debt Instrument [Line Items]    
Long-Term Debt, Gross $ 1,000 1,000
Debt instrument, interest rate, stated percentage 3.00%  
1.375% Senior Notes Due June 2027    
Debt Instrument [Line Items]    
Long-Term Debt, Gross $ 1,250 1,250
Debt instrument, interest rate, stated percentage 1.375%  
1.60% Senior Notes Due April 2030    
Debt Instrument [Line Items]    
Long-Term Debt, Gross $ 1,750 1,750
Debt instrument, interest rate, stated percentage 1.60%  
1.750% Senior Notes Due April 2032    
Debt Instrument [Line Items]    
Long-Term Debt, Gross $ 1,000 1,000
Debt instrument, interest rate, stated percentage 1.75%  
Other Long-term Debt    
Debt Instrument [Line Items]    
Long-Term Debt, Gross $ 969 $ 484
[1] Net of unamortized debt discounts and issuance costs
v3.24.0.1
Equity - Additional Information - Dividends (Detail) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended
Dec. 13, 2023
Feb. 18, 2024
Feb. 12, 2023
Common Stock [Member]      
Dividends Payable [Line Items]      
Common Stock, Dividends, Per Share, Declared $ 15.00    
Dividends declared $ 15.00    
Dividend Rate      
Dividends Payable [Line Items]      
Common Stock, Dividends, Per Share, Declared   $ 1.02 $ 0.90
Dividends declared   $ 1.02 $ 0.90
Special Dividend | Common Stock [Member]      
Dividends Payable [Line Items]      
Dividends $ 6,655    
v3.24.0.1
Equity (Stock Repurchased During Period) (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Millions
 3 Months Ended 6 Months Ended
Feb. 18, 2024
Feb. 12, 2023
Feb. 18, 2024
Feb. 12, 2023
Equity [Abstract]        
Stock Repurchased and Retired During Period, Shares 240 294 528 579
Average price per share $ 664.02 $ 488.30 $ 609.51 $ 492.06
Total Cost $ (160) $ (144) $ (322) $ (285)
v3.24.0.1
Equity - Additional Information - Stock Repurchase Programs (Details) - USD ($)
$ in Millions
Feb. 18, 2024
Jan. 19, 2023
Equity [Abstract]    
Stock repurchase program, remaining authorized repurchase amount $ 3,241  
Stock Repurchase Program, Authorized Amount   $ 4,000
v3.24.0.1
Stock-Based Compensation Plans - Additional Information (Detail)
$ / shares in Units, shares in Thousands, $ in Millions
 6 Months Ended
Feb. 18, 2024
USD ($)
shares
Dec. 27, 2023
؋ / shares
$ / shares
Dec. 26, 2023
$ / shares
Sep. 03, 2023
shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
SpecialCashDividendSharesAdjustmentRatio | ؋ / shares   1.018    
Share Price | $ / shares   $ 662.70 $ 674.62  
Special cash dividend 52      
Mandatory Proportional Adjustment to Shares Available to be Granted 128      
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares 2,910     3,045
Restricted Stock Units (RSUs)        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Number of shares available to be granted 7,249      
Time-based RSUs awards outstanding 2,749      
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares 70      
Unrecognized compensation cost | $ $ 1,098      
Weighted-average recognition period 1 year 9 months 18 days      
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition 1 year 9 months 18 days      
Performance Shares [Member]        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Outstanding performance-based RSUs awards granted, subject to achievement of performance targets 91      
Maximum [Member] | Restricted Stock Units (RSUs)        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Number of shares available to be granted 15,885      
v3.24.0.1
Stock-Based Compensation Plans - Summary of RSU Transactions (Details)
shares in Thousands
 6 Months Ended
Feb. 18, 2024
$ / shares
shares
Number of units  
Outstanding at September 3, 2023 3,045
Granted 1,663
Vested and delivered (1,813)
Forfeited (37)
Special cash dividend 52
Outstanding at February 18, 2024 2,910
Weighted average grant date fair value  
Outstanding at September 3, 2023 | $ / shares $ 405.63
Granted | $ / shares 545.98
Vested and delivered | $ / shares 430.54
Forfeited | $ / shares 454.02
Outstanding at February 18, 2024 | $ / shares $ 462.35
v3.24.0.1
Stock-Based Compensation Plans - Summary of Stock-Based Compensation Expense (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Feb. 18, 2024
Feb. 12, 2023
Feb. 18, 2024
Feb. 12, 2023
Stock-based compensation expense before income taxes $ 136 $ 147 $ 580 $ 549
Less recognized income tax benefit 25 24 120 113
Stock-based compensation expense, net of income taxes $ 111 $ 123 $ 460 $ 436
v3.24.0.1
Net Income per Common and Common Equivalent Share - Schedule of Earnings per Share Effect on Net Income and Weighted Average Number of Dilutive Potential Common Stock (Details) - USD ($)
shares in Thousands, $ in Millions
 3 Months Ended 6 Months Ended
Feb. 18, 2024
Feb. 12, 2023
Feb. 18, 2024
Feb. 12, 2023
Earnings Per Share [Abstract]        
NET INCOME $ 1,743 $ 1,466 $ 3,332 $ 2,830
Weighted average number of common shares used in basic net income per common share 443,892 443,877 443,859 443,857
RSUs 862 598 720 646
Weighted average number of common shares and dilutive potential of common stock used in diluted net income per share 444,754 444,475 444,579 444,503
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount 0 6 0 0
v3.24.0.1
Commitments and Contingencies Commitments and Contingencies - Additional Information (Detail) (Details)
$ in Millions
 12 Months Ended
Sep. 03, 2023
USD ($)
Loss Contingencies [Line Items]  
Loss Contingency, Damages Sought, Value $ 70
v3.24.0.1
Segment Reporting Information by Segment (Detail) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended 12 Months Ended
Feb. 18, 2024
Feb. 12, 2023
Feb. 18, 2024
Feb. 12, 2023
Sep. 03, 2023
Segment Reporting Information [Line Items]          
Total Revenue $ 58,442 $ 55,266 $ 116,241 $ 109,703 $ 242,290
Operating Income 2,062 1,903 4,046 3,654 8,114
Operating Segments [Member] | United States Operations          
Segment Reporting Information [Line Items]          
Total Revenue 41,952 40,145 83,785 80,290 176,630
Operating Income 1,294 1,295 2,652 2,531 5,392
Operating Segments [Member] | Canada Operations          
Segment Reporting Information [Line Items]          
Total Revenue 7,874 7,299 15,775 14,655 33,056
Operating Income 390 284 715 572 1,448
Operating Segments [Member] | Other International Operations          
Segment Reporting Information [Line Items]          
Total Revenue 8,616 7,822 16,681 14,758 32,604
Operating Income $ 378 $ 324 $ 679 $ 551 $ 1,274
v3.24.0.1
Segment Reporting Segment Reporting Information by Item Category (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Feb. 18, 2024
Feb. 12, 2023
Feb. 18, 2024
Feb. 12, 2023
Disaggregation of Revenue [Line Items]        
Total Revenue $ 58,442 $ 55,266 $ 116,241 $ 109,703
Foods and Sundries [Member]        
Disaggregation of Revenue [Line Items]        
Total Revenue 23,675 21,926 46,699 43,374
Non-Foods [Member]        
Disaggregation of Revenue [Line Items]        
Total Revenue 15,017 14,741 29,783 28,773
Fresh Foods [Member]        
Disaggregation of Revenue [Line Items]        
Total Revenue 7,996 7,376 15,324 14,093
Ancillary and Other Businesses        
Disaggregation of Revenue [Line Items]        
Total Revenue 10,643 10,196 22,242 21,436
Net Sales        
Disaggregation of Revenue [Line Items]        
Total Revenue $ 57,331 $ 54,239 $ 114,048 $ 107,676