Company: COST
Filing Date: 2025-12-04
Form Type: DEF 14A
Source: 0000909832-25-000159
Chunk: 54

Company: COSTCO WHOLESALE CORP /NEW
Filing Date: 2025-12-04
Form: DEF 14A
Chunk 54
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 is a non-GAAP financial measure, as a performance target for RSUs and for a portion of the bonuses granted to executive officers. The Company also uses the non-GAAP measure as its selected financial measure under "Pay Versus Performance." Management believes that this provides a fairer measure (as compared to U.S. dollars) of performance subject to the Company's control. Non-GAAP financial measures are not intended to be used as an alternative to direct comparable measures in accordance with GAAP and may not be comparable to similar measures reported by other companies.

In the discussion of net sales adjusted for changes in foreign currencies, we refer to the impact of changes in foreign currencies relative to the U.S. dollar, which are differences between the foreign-exchange rates we use to convert the financial results of our international operations from local currencies into U.S. dollars. This impact of foreign-exchange rate changes is calculated based on the difference between the current and prior fiscal year currency exchange rates.

The following table reflects the calculation of net sales adjusted for changes in foreign currencies (in millions):

|                                                      |     |   |    2025 |     |   |    2024 |     |   |    2023 |     |   |    2022 |     |   |    2021 |
|:-----------------------------------------------------|:----|:--|--------:|:----|:--|--------:|:----|:--|--------:|:----|:--|--------:|:----|:--|--------:|
| Net sales                                            |     | $ | 269,912 |     | $ | 249,625 |     | $ | 237,710 |     | $ | 222,730 |     | $ | 192,052 |
| Changes in foreign currencies                        |     |   |   1,943 |     |   |     474 |     |   |   3,484 |     |   |   1,762 |     |   |  -2,759 |
| Net sales adjusted for changes in foreign currencies |     | $ | 271,855 |     | $ | 250,099 |     | $ | 241,194 |     | $ | 224,492 |     | $ | 189,293 |

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