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Income Statement
Exchange rate used is that of the Year End
reported date
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
Walmart Inc (NYS: WMT)
Company Financials
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$
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
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)$ (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)$
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$
01/31/2023 01/31/2022 01/31/2021
USD USD USD
Not Qualified Not Qualified Not Qualified
Yes Yes Yes
100.0% 100.0% 100.0%
0.9% 0.9% 0.7%
100.9% 100.9% 100.7%
76.5% 75.6% 75.7%
21.0% 20.8% 20.9%
3.4% 4.6% 4.1%
0.3% 0.3% 0.4%
0.1% 0.1% NM
NM NM 0.1%
0.0% 0.0% 0.0%
-0.3% -0.3% -0.4%
NM -0.4% MM
-0.3% -0.5% 0.0%
2.5% 2.7% 3.6%
0.3% 0.6% 0.1%
2.8% 3.3% 3.7%
0.3% 0.6% 0.5%
0.1% 0.1% 0.1%
0.4% 0.3% 0.2%
0.9% 1.0% 0.9%
0.1% -0.1% 0.4%
0.0% 0.0% 0.0%
0.0% 0.0% -0.1%
0.1% -0.1% 0.4%
0.9% 0.8% 1.2%
1.9% 2.5% 2.5%
0.1% 0.0% 0.0%
1.9% 2.3% 2.2%
2,724,000 2,792,000 2,831,000
2,734,000 2,805,000 2,847,000
2,693,000 2,761,000 2,821,000
4.29$ 4.90$ 4.77$
4.27$ 4.87$ 4.75$
2.24$ 2.20$ 2.16$
2,100,000 2,300,000 2,300,000
205,465 209,870 214,673
(1,858,000) 2,442,000 842,000
01/31/2023 01/31/2022 01/31/2021
USD USD USD
Not Qualified Not Qualified Not Qualified
Yes Yes Yes
3.5% 6.0% 7.0%
3.3% 3.4% 2.6%
23.3% 23.1% 17.8%
1.0% 0.6% 8.3%
31.1% 33.1% 35.7%
7.9% 7.8% 7.6%
43.0% 41.0% 38.6%
26.8% 24.6% 22.4%
1.0% 0.9% 0.9%
4.4% 2.9% 1.9%
83.2% 77.3% 71.5%
41.8% 38.7% 35.0%
41.4% 38.6% 36.5%
5.6% 5.6% 5.4%
2.0% 1.8% 1.6%
11.6% 11.8% 11.5%
8.3% 9.0% 9.3%
100.0% 100.0% 100.0%
0.2% 0.2% 0.1%
22.1% 22.6% 19.5%
NM 0.0% 5.0%
3.4% 3.2% 3.0%
1.9% 1.9% 1.9%
1.4% 1.3% 1.3%
1.2% NM NM
1.0% 1.0% 0.9%
3.8% 3.1% 2.9%
12.8% 10.6% 15.0%
0.3% 0.3% 0.1%
0.6% 0.6% 0.6%
1.7% 1.1% 1.2%
0.2% 0.2% 0.2%
37.9% 35.7% 36.7%
16.3% 15.4% 17.5%
-0.3% -0.1% 0.0%
16.0% 15.4% 17.5%
1.7% 1.1% 1.2%
14.2% 14.2% 16.3%
5.3% 5.3% 5.1%
2.0% 1.7% 1.5%
6.0% 5.5% 5.7%
0.1% NM NM
0.1% 0.1% 0.1%
2.0% 2.0% 1.4%
34.2% 35.5% 35.2%
-4.4% -3.3% -4.3%
0.0% 0.0% 0.5%
-0.4% -0.3% -0.1%
0.0% 0.0% -0.8%
-4.8% -3.6% -4.7%
31.5% 34.0% 32.1%
2.9% 3.5% 2.6%
34.4% 37.5% 34.7%
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