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Walmart Inc (NYS: WMT)
Company Financials
As Reported Annual Income Statement
Report Date 01/31/2023 01/31/2022 01/31/2021
Currency USD USD USD
Audit Status Not Qualified Not Qualified Not Qualified
Consolidated Yes Yes Yes
Scale Thousands Thousands Thousands
Net sales 605,881,000$ 567,762,000$ 555,233,000$
Membership & other income 5,408,000$ 4,992,000$ 3,918,000$
Total revenues 611,289,000$ 572,754,000$ 559,151,000$
Cost of sales 463,721,000$ 429,000,000$ 420,315,000$
Operating, selling, general & administrative expenses
127,140,000$ 117,812,000$ 116,288,000$
Operating income (loss) 20,428,000$ 25,942,000$ 22,548,000$
Interest expense on debt 1,787,000$ 1,674,000$ 1,976,000$
Interest on finance lease 341,000$ 320,000$ -
Interest expense on finance, capital lease & financing obligations
- - 339,000$
Interest income 254,000$ 158,000$ 121,000$
Interest income (expense), net (1,874,000)$ (1,836,000)$ (2,194,000)$
Gain (loss) on extinguishment of debt - (2,410,000)$ -
Other gains & (losses) (1,538,000)$ (3,000,000)$ 210,000$
Income (loss) before income taxes - U.S. 15,089,000$ 15,536,000$ 20,003,000$
Income (loss) before income taxes - non-U.S.
1,927,000$ 3,160,000$ 561,000$
Income (loss) before income taxes 17,016,000$ 18,696,000$ 20,564,000$
Current U.S. federal tax provision (benefit) 2,030,000$ 3,313,000$ 2,991,000$
Current U.S. state & local tax provision (benefit)
610,000$ 649,000$ 742,000$
Current international tax provision (benefit) 2,654,000$ 1,553,000$ 1,127,000$
Total current tax provision (benefit) 5,294,000$ 5,515,000$ 4,860,000$
Deferred U.S. federal tax expense (benefit) 608,000$ (671,000)$ 2,316,000$
Deferred U.S. state & local tax expense (benefit)
119,000$ 41,000$ 23,000$
Deferred international tax expense (benefit) (297,000)$ (129,000)$ (341,000)$
Total deferred tax expense (benefit) 430,000$ (759,000)$ 1,998,000$
Provision (benefit) for income taxes 5,724,000$ 4,756,000$ 6,858,000$
Consolidated net income (loss) 11,292,000$ 13,940,000$ 13,706,000$
Consolidated net loss (income) attributable to noncontrolling interest
388,000$ (267,000)$ (196,000)$
Consolidated net income (loss) attributable to Walmart Inc.
11,680,000$ 13,673,000$ 13,510,000$
Weighted average shares outstanding - basic
2,724,000 2,792,000 2,831,000
Weighted average shares outstanding - diluted
2,734,000 2,805,000 2,847,000
Year end shares outstanding 2,693,000 2,761,000 2,821,000
Net income (loss) per common share - basic
4.29$ 4.90$ 4.77$
Net income (loss) per common share - diluted
4.27$ 4.87$ 4.75$
Dividends declared per common share 2.24$ 2.20$ 2.16$
Income Statement
Exchange rate used is that of the Year End
reported date
Total number of employees 2100000 2300000 2300000
Number of common stockholders 205465 209870 214673
Foreign currency translation adjustments -1858000 2442000 842000
Balance Sheet
Exchange rate used is that of the Year End
reported date
As Reported Annual Balance Sheet
Report Date 01/31/2023 01/31/2022 01/31/2021
Currency USD USD USD
Audit Status Not Qualified Not Qualified Not Qualified
Consolidated Yes Yes Yes
Scale Thousands Thousands Thousands
Cash & cash equivalents 8,625,000$ 14,760,000$ 17,741,000$
Receivables, net 7,933,000$ 8,280,000$ 6,516,000$
Inventories 56,576,000$ 56,511,000$ 44,949,000$
Prepaid expenses & other current assets 2,521,000$ 1,519,000$ 20,861,000$
Total current assets 75,655,000$ 81,070,000$ 90,067,000$
Land 19,317,000$ 19,204,000$ 19,308,000$
Buildings & improvements 104,554,000$ 100,376,000$ 97,582,000$
Fixtures & equipment 65,235,000$ 60,282,000$ 56,639,000$
Transportation equipment 2,462,000$ 2,263,000$ 2,301,000$
Construction in progress 10,802,000$ 7,199,000$ 4,741,000$
Property & equipment, gross 202,370,000$ 189,324,000$ 180,571,000$
Less: accumulated depreciation 101,610,000$ 94,809,000$ 88,370,000$
Property & equipment, net 100,760,000$ 94,515,000$ 92,201,000$
Operating lease right-of-use assets 13,555,000$ 13,758,000$ 13,642,000$
Finance lease right-of-use assets, net 4,919,000$ 4,351,000$ 4,005,000$
Goodwill 28,174,000$ 29,014,000$ 28,983,000$
Other long-term assets 20,134,000$ 22,152,000$ 23,598,000$
Total assets 243,197,000$ 244,860,000$ 252,496,000$
Short-term borrowings 372,000$ 410,000$ 224,000$
Accounts payable 53,742,000$ 55,261,000$ 49,141,000$
Liabilities for sale - 21,000$ 12,734,000$
Accrued wages & benefits 8,287,000$ 7,908,000$ 7,654,000$
Self-insurance 4,724,000$ 4,652,000$ 4,698,000$
Accrued non-income taxes 3,425,000$ 3,247,000$ 3,328,000$
Opioid litigation settlement 2,949,000$ - -
Deferred gift card revenue 2,488,000$ 2,559,000$ 2,310,000$
Other accrued liabilities 9,253,000$ 7,673,000$ 7,242,000$
Accrued liabilities 31,126,000$ 26,060,000$ 37,966,000$
Accrued income taxes 727,000$ 851,000$ 242,000$
Operating lease obligations due within one year
1,473,000$ 1,483,000$ 1,466,000$
Long-term debt due within one year 4,191,000$ 2,803,000$ 3,115,000$
Finance lease obligations due within one year
567,000$ 511,000$ 491,000$
Total current liabilities 92,198,000$ 87,379,000$ 92,645,000$
Unsecured debt 39,582,000$ 37,820,000$ 44,306,000$
Other debt (742,000)$ (153,000)$ 3,000$
Total long-term debt 38,840,000$ 37,667,000$ 44,309,000$
Less: amounts due within one year 4,191,000$ 2,803,000$ 3,115,000$
Long-term debt 34,649,000$ 34,864,000$ 41,194,000$
Long-term operating lease obligations 12,828,000$ 13,009,000$ 12,909,000$
Long-term finance lease obligations 4,843,000$ 4,243,000$ 3,847,000$
Deferred income taxes & other liabilities 14,688,000$ 13,474,000$ 14,370,000$
Redeemable noncontrolling interest 237,000$ - -
Common stock 269,000$ 276,000$ 282,000$
Capital in excess of par value 4,969,000$ 4,839,000$ 3,646,000$
Retained earnings (accumulated deficit) 83,135,000$ 86,904,000$ 88,763,000$
Currency translation & other (10,816,000)$ (8,100,000)$ (10,772,000)$
Net investment hedges 94,000$ 94,000$ 1,296,000$
Cash flow hedges (951,000)$ (748,000)$ (304,000)$
Minimum pension liability (7,000)$ (12,000)$ (1,986,000)$
Accumulated other comprehensive income (loss)
(11,680,000)$ (8,766,000)$ (11,766,000)$
Total Walmart Inc. shareholders' equity (deficit)
76,693,000$ 83,253,000$ 80,925,000$
Noncontrolling interest 7,061,000$ 8,638,000$ 6,606,000$
Total equity (deficit) 83,754,000$ 91,891,000$ 87,531,000$
Cash Flows
Exchange rate used is that of the Year End
reported date
(1,086,000)$
Inventories (528,000)$ (11,764,000)$ (2,395,000)$
Accounts payable (1,425,000)$ 5,520,000$ 6,966,000$
Accrued liabilities 4,393,000$ 1,404,000$ 4,623,000$
Accrued income taxes (127,000)$ 39,000$ (136,000)$
Net cash flows from operating activities 28,841,000$ 24,181,000$ 36,074,000$
Payments for property & equipment (16,857,000)$ (13,106,000)$ (10,264,000)$
Proceeds from the disposal of property & equipment
170,000$ 394,000$ 215,000$
Proceeds from disposal of certain operations, net of divested cash
-7,935,000$ 56,000$
Payments for business acquisitions, net of cash acquired
(740,000)$ (359,000)$ (180,000)$
Other investing activities (295,000)$ (879,000)$ 102,000$
Net cash flows from investing activities (17,722,000)$ (6,015,000)$ (10,071,000)$
Net change in short-term borrowings (34,000)$ 193,000$ (324,000)$
Proceeds from issuance of long-term debt 5,041,000$ 6,945,000$ -
Repayments of long-term debt (2,689,000)$ (13,010,000)$ (5,382,000)$
As Reported Annual Cash Flow
Report Date 01/31/2023 01/31/2022 01/31/2021
Currency USD USD USD
Audit Status Not Qualified Not Qualified Not Qualified
Consolidated Yes Yes Yes
Scale Thousands Thousands Thousands
Consolidated net income (loss) $ 11,292,000 $ 13,940,000 $ 13,706,000
Depreciation & amortization $ 10,945,000 $ 10,658,000 $ 11,152,000
Net unrealized & realized losses & (gains) $ 1,683,000 $ 2,440,000 $ (8,589,000)
Losses (gains) on disposal of business operations - $ 433,000 $ 8,401,000
Deferred income taxes $ 449,000 $ (755,000)
$ 1,911,000
Loss (gain) on extinguishment of debt - $ 2,410,000 -
Other operating activities $ 1,919,000 $ 1,652,000 $ 1,521,000
Receivables, net $ 240,000 $ (1,796,000)
Premiums paid to extinguish debt - (2,317,000)$ -
Dividends paid (6,114,000)$ (6,152,000)$ (6,116,000)$
Purchase of company stock (9,920,000)$ (9,787,000)$ (2,625,000)$
Dividends paid to noncontrolling interest (444,000)$ (424,000)$ (434,000)$
Sale of subsidiary stock 66,000$ 3,239,000$ -
Purchase of noncontrolling interest (827,000)$ - -
Other financing activities (2,118,000)$ (1,515,000)$ (1,236,000)$
Net cash flows from financing activities (17,039,000)$ (22,828,000)$ (16,117,000)$
Effect of exchange rates on cash, cash equivalents & restricted cash
(73,000)$ (140,000)$ 235,000$
Net increase (decrease) in cash, cash equivalents & restricted cash
(5,993,000)$ (4,802,000)$ 10,121,000$
Change in cash & cash equivalents reclassified from (to) assets held for sale
-1,848,000$ (1,848,000)$
Cash, cash equivalents & restricted cash at beginning of year
14,834,000$ 17,788,000$ 9,515,000$
Cash, cash equivalents & restricted cash at end of year
8,841,000$ 14,834,000$ 17,788,000$
Income taxes paid 3,310,000$ 5,918,000$ 5,271,000$
Interest paid 2,051,000$ 2,237,000$ 2,216,000$
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