WAL-MART ANALYSIS
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ACT5140Spring22015Walmartinformation-21.xlsIS
| WAL MART STORES INC | ||||
| 10-K | ||||
| Income Statement | ||||
| (Amounts in millions except per share data) | ||||
| Fiscal Year Ended January 31, | 2015 | 2014 | 2013 | 2012 |
| Revenues: | ||||
| Net sales | $482,229 | $473,076 | $465,604 | $443,416 |
| Membership and other income | 3,422 | 3,218 | 3,047 | 3,093 |
| 485,651 | 476,294 | 468,651 | 446,509 | |
| Costs and expenses: | ||||
| Cost of sales | 365,086 | 358,069 | 352,297 | 334,993 |
| Operating, selling, general and administrative expenses | 93,418 | 91,353 | 88,629 | 85,025 |
| Operating income | 27,147 | 26,872 | 27,725 | 26,491 |
| Interest: | ||||
| Debt | 2,161 | 2,072 | 1,977 | 2,034 |
| Capital leases | 300 | 263 | 272 | 286 |
| Interest expense | 2,461 | 2,335 | 2,249 | 2,320 |
| Interest income | (113) | (119) | (186) | (161) |
| Interest, net | 2,348 | 2,216 | 2,063 | 2,159 |
| Income from continuing operations before income taxes | 24,799 | 24,656 | 25,662 | 24,332 |
| Provision for income taxes: | ||||
| Current | 8,504 | 8,619 | 7,976 | 6,722 |
| Deferred | (519) | (514) | (18) | 1,202 |
| Total provision for income taxes | 7,985 | 8,105 | 7,958 | 7,924 |
| Income from continuing operations | 16,814 | 16,551 | 17,704 | 16,408 |
| Income (Loss) from discontinued operations, net of tax | 285 | 144 | 52 | (21) |
| Consolidated net income | 17,099 | 16,695 | 17,756 | 16,387 |
| Consolidated net income attributable to noncontrolling interest | (736) | (673) | (757) | (688) |
| Consolidated net income attributable to Walmart | $16,363 | $16,022 | $16,999 | $15,699 |
| Net income per common share: | ||||
| Basic income per common share from continuing operations to Walmart | $5.01 | $4.87 | $5.03 | $4.55 |
| Basic income (loss) per common share from discontinued operations | $0.06 | $0.03 | $0.01 | ($0.01) |
| Basic net income per common share attributable to Walmart | $5.07 | $4.90 | $5.04 | $4.54 |
| Diluted income per common share from continuing operations to Walmart | $4.99 | $4.85 | $5.01 | $4.53 |
| Diluted income (loss) per common share from discontinued operations | $0.06 | $0.03 | $0.01 | ($0.01) |
| Diluted net income per common share | $5.05 | $4.88 | $5.02 | $4.52 |
| Weighted-average number of common shares: | ||||
| Basic | 3,230 | 3,269 | 3,374 | 3,460 |
| Diluted | 3,243 | 3,283 | 3,389 | 3,474 |
| Dividends declared per common share | $1.92 | $1.88 | $1.59 | $1.46 |
BS
| WAL MART STORES INC | ||||
| 10-K | ||||
| Balance Sheet | ||||
| (Amounts in millions except per share data) | ||||
| January 31, | 2015 | 2014 | 2013 | 2012 |
| ASSETS | ||||
| Current assets: | ||||
| Cash and cash equivalents | $9,135 | $7,281 | $7,781 | $6,550 |
| Receivables | 6,778 | 6,677 | 6,768 | 5,937 |
| Inventories | 45,141 | 44,858 | 43,803 | 40,714 |
| Prepaid expenses and other | 2,224 | 1,909 | 1,551 | 1,685 |
| Current assets of discontinued operations | 0 | 460 | 37 | 89 |
| Total current assets | $63,278 | $61,185 | $59,940 | $54,975 |
| Property and equipment, at cost | 177,395 | 173,089 | 165,825 | 155,002 |
| Less accumulated depreciation | (63,115) | (57,725) | (51,896) | (45,399) |
| Property and equipment, net | 114,280 | 115,364 | 113,929 | 109,603 |
| Property under capital lease | 5,239 | 5,589 | 5,899 | 5,936 |
| Less accumulated amortization | (2,864) | (3,046) | (3,147) | (3,215) |
| Property under capital lease, net | 2,375 | 2,543 | 2,752 | 2,721 |
| Goodwill | 18,102 | 19,510 | 20,497 | 20,651 |
| Other assets and deferred charges | 5,671 | 6,149 | 5,987 | 5,456 |
| Total assets | $203,706 | $204,751 | $203,105 | $193,406 |
| LIABILITIES AND SHAREHOLDERS EQUITY | ||||
| Current liabilities: | ||||
| Short-term borrowings | $1,592 | $7,670 | $6,805 | $4,047 |
| Accounts payable | 38,410 | 37,415 | 38,080 | 36,608 |
| Accrued liabilities | 19,152 | 18,793 | 18,808 | 18,154 |
| Accrued income taxes | 1,021 | 966 | 2,211 | 1,164 |
| Long-term debt due within one year | 4,810 | 4,103 | 5,587 | 1,975 |
| Obligations under capital leases due within one year | 287 | 309 | 327 | 326 |
| Current liabilities of discontinued operations | 0 | 89 | 0 | 26 |
| Total current liabilities | 65,272 | 69,345 | 71,818 | 62,300 |
| Long-term debt | 41,086 | 41,771 | 38,394 | 44,070 |
| Long-term obligations under capital leases | 2,606 | 2,788 | 3,023 | 3,009 |
| Deferred income taxes and other | 8,805 | 8,017 | 7,613 | 7,862 |
| Redeemable non-controlling interest | 0 | 1,491 | 519 | 404 |
| Commitments and contingencies | 0 | 0 | 0 | 0 |
| Shareholders equity: | ||||
| Common stock | 323 | 323 | 332 | 342 |
| Capital in excess of par value | 2,462 | 2,362 | 3,620 | 3,692 |
| Retained earnings | 85,777 | 76,566 | 72,978 | 68,691 |
| Accumulated other comprehensive income (loss) | (7,168) | (2,996) | (587) | (1,410) |
| Total Walmart shareholders' equity | 81,394 | 76,255 | 76,343 | 71,315 |
| Noncontrolling interest | 4,543 | 5,084 | 5,395 | 4,446 |
| Total equity | 85,937 | 81,339 | 81,738 | 75,761 |
| Total liabilities and shareholders equity | $203,706 | $204,751 | $203,105 | $193,406 |
SCF
| WAL MART STORES INC | ||||
| 10-K | ||||
| Statement of Cash Flows | ||||
| (Amounts in millions) | ||||
| Fiscal Year Ended January 31, | 2015 | 2014 | 2013 | 2012 |
| Cash flows from operating activities: | ||||
| Consolidated net income | $17,099 | $16,695 | $17,756 | $16,387 |
| (Income) Loss from discontinued operations, net of tax | (285) | (144) | (52) | 21 |
| Income from continuing operations | 16,814 | 16,551 | 17,704 | 16,408 |
| Adjustments to reconcile income from continuing operations to net cash provided by operating activities | ||||
| Depreciation and amortization | 9,173 | 8,870 | 8,478 | 8,106 |
| Deferred income taxes | (503) | (279) | (133) | 1,050 |
| Other operating activities | 785 | 938 | 602 | 468 |
| Changes in certain assets and liabilities, net of effects of acquisitions: | ||||
| Increase in accounts receivable | (569) | (566) | (614) | (796) |
| Increase in inventories | (1,229) | (1,667) | (2,759) | (3,727) |
| Increase in accounts payable | 2,678 | 531 | 1,061 | 2,687 |
| Increase in accrued liabilities | 1,249 | 103 | 271 | 30 |
| (Decrease) Increase in accrued income taxes | 166 | (1,224) | 981 | 29 |
| Net cash provided by operating activities | 28,564 | 23,257 | 25,591 | 24,255 |
| Cash flows from investing activities: | ||||
| Payments for property and equipment | (12,174) | (13,115) | (12,898) | (13,510) |
| Proceeds from disposal of property and equipment | 570 | 727 | 532 | 580 |
| Proceeds from disposal of certain operations | 671 | 0 | 0 | 0 |
| Other investing activities | (192) | (138) | (271) | (3,679) |
| Net cash used in investing activities | (11,125) | (12,526) | (12,637) | (16,609) |
| Cash flows from financing activities: | ||||
| Net change in short-term borrowings | (6,288) | 911 | 2,754 | 3,019 |
| Proceeds from issuance of long-term debt | 5,174 | 7,072 | 211 | 5,050 |
| Payment of long-term debt | (3,904) | (4,968) | (1,478) | (4,584) |
| Dividends paid | (6,185) | (6,139) | (5,361) | (5,048) |
| Purchase of Company stock | (1,015) | (6,683) | (7,600) | (6,298) |
| Dividends paid to noncontrolling interest | (600) | (426) | (282) | (526) |
| Purchase of noncontrolling interest | (1,844) | (296) | (132) | 0 |
| Other financing activities | (409) | (260) | (58) | (71) |
| Net cash used in financing activities | (15,071) | (10,789) | (11,946) | (8,458) |
| Effect of exchange rates on cash | (514) | (442) | 223 | (33) |
| Net (decrease) increase in cash and cash equivalents | 1,854 | (500) | 1,231 | (845) |
| Cash and cash equivalents at beginning of year | 7,281 | 7,781 | 6,550 | 7,395 |
| Cash and cash equivalents at end of year | $9,135 | $7,281 | $7,781 | $6,550 |
| Supplemental disclosure of cash flow information | ||||
| Income tax paid | 8,169 | 8,641 | 7,304 | 5,889 |
| Interest paid | 2,433 | 2,362 | 2,262 | 2,346 |
