Cover page
Cover page - shares | 9 Months Ended | |
Oct. 31, 2020 | Nov. 30, 2020 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Oct. 31, 2020 | |
Document Transition Report | false | |
Entity File Number | 001-6991 | |
Entity Registrant Name | WALMART INC. | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 71-0415188 | |
Entity Address, Address Line One | 702 S.W. 8th Street | |
Entity Address, City or Town | Bentonville | |
Entity Address, State or Province | AR | |
Entity Address, Postal Zip Code | 72716 | |
City Area Code | 479 | |
Local Phone Number | 273-4000 | |
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 | 2,829,285,926 | |
Entity Central Index Key | 0000104169 | |
Current Fiscal Year End Date | --01-31 | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false | |
Common Stock, par value $0.10 per share | ||
Document Information [Line Items] | ||
Title of 12(b) Security | Common Stock, par value $0.10 per share | |
Trading Symbol | WMT | |
Security Exchange Name | NYSE | |
1.900% Notes Due 2022 | ||
Document Information [Line Items] | ||
Title of 12(b) Security | 1.900% Notes Due 2022 | |
Trading Symbol | WMT22 | |
Security Exchange Name | NYSE | |
2.550% Notes Due 2026 | ||
Document Information [Line Items] | ||
Title of 12(b) Security | 2.550% Notes Due 2026 | |
Trading Symbol | WMT26 | |
Security Exchange Name | NYSE |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2020 | Oct. 31, 2019 | |
Revenues: | ||||
Net sales | $ 133,752 | $ 126,981 | $ 404,248 | $ 379,318 |
Membership and other income | 956 | 1,010 | 2,824 | 2,975 |
Total revenues | 134,708 | 127,991 | 407,072 | 382,293 |
Costs and expenses: | ||||
Cost of sales | 100,339 | 95,900 | 305,054 | 286,857 |
Operating, selling, general and administrative expenses | 28,591 | 27,373 | 84,957 | 80,190 |
Operating income | 5,778 | 4,718 | 17,061 | 15,246 |
Interest: | ||||
Debt | 455 | 547 | 1,542 | 1,693 |
Finance lease | 86 | 86 | 249 | 254 |
Interest income | (25) | (44) | (91) | (148) |
Interest, net | 516 | 589 | 1,700 | 1,799 |
Other (gains) and losses | (1,853) | (244) | (5,796) | (996) |
Income before income taxes | 7,115 | 4,373 | 21,157 | 14,443 |
Provision for income taxes | 1,914 | 1,052 | 5,443 | 3,536 |
Consolidated net income | 5,201 | 3,321 | 15,714 | 10,907 |
Consolidated net income attributable to noncontrolling interest | (66) | (33) | (113) | (167) |
Consolidated net income attributable to Walmart | $ 5,135 | $ 3,288 | $ 15,601 | $ 10,740 |
Net income per common share: | ||||
Basic net income per common share attributable to Walmart (in dollars per share) | $ 1.81 | $ 1.16 | $ 5.51 | $ 3.76 |
Diluted net income per common share attributable to Walmart (in dollars per share) | $ 1.80 | $ 1.15 | $ 5.48 | $ 3.74 |
Weighted-average common shares outstanding: | ||||
Basic (shares) | 2,833 | 2,843 | 2,832 | 2,855 |
Diluted (shares) | 2,849 | 2,861 | 2,849 | 2,872 |
Dividends declared per common share (in dollars per share) | $ 0 | $ 0 | $ 2.16 | $ 2.12 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2020 | Oct. 31, 2019 | |
Statement of Comprehensive Income [Abstract] | ||||
Consolidated net income | $ 5,201 | $ 3,321 | $ 15,714 | $ 10,907 |
Consolidated net income attributable to noncontrolling interest | (66) | (33) | (113) | (167) |
Consolidated net income attributable to Walmart | 5,135 | 3,288 | 15,601 | 10,740 |
Other comprehensive income (loss), net of income taxes | ||||
Currency translation and other | 1,262 | (1,188) | (2,408) | (762) |
Net investment hedges | (1) | (113) | (35) | 135 |
Cash flow hedges | 0 | (12) | 34 | (301) |
Minimum pension liability | 16 | 8 | 47 | 13 |
Other comprehensive income (loss), net of income taxes | 1,277 | (1,305) | (2,362) | (915) |
Other comprehensive (income) loss attributable to noncontrolling interest | (109) | 193 | 551 | 75 |
Other comprehensive income (loss) attributable to Walmart | 1,168 | (1,112) | (1,811) | (840) |
Comprehensive income, net of income taxes | 6,478 | 2,016 | 13,352 | 9,992 |
Comprehensive (income) loss attributable to noncontrolling interest | (175) | 160 | 438 | (92) |
Comprehensive income attributable to Walmart | $ 6,303 | $ 2,176 | $ 13,790 | $ 9,900 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions | Oct. 31, 2020 | Jan. 31, 2020 | Oct. 31, 2019 |
Current assets: | |||
Cash and cash equivalents | $ 14,325 | $ 9,465 | $ 8,606 |
Receivables, net | 5,770 | 6,284 | 5,612 |
Inventories | 51,842 | 44,435 | 51,546 |
Prepaid expenses and other | 1,665 | 1,622 | 2,148 |
Total current assets | 73,602 | 61,806 | 67,912 |
Property and equipment, net | 102,232 | 105,208 | 104,326 |
Operating lease right-of-use assets | 17,128 | 17,424 | 16,944 |
Finance lease right-of-use assets, net | 4,929 | 4,417 | 4,155 |
Goodwill | 30,236 | 31,073 | 30,716 |
Other long-term assets | 22,736 | 16,567 | 15,777 |
Total assets | 250,863 | 236,495 | 239,830 |
Current liabilities: | |||
Short-term borrowings | 240 | 575 | 4,926 |
Accounts payable | 54,152 | 46,973 | 49,750 |
Dividends payable | 1,529 | 0 | 1,507 |
Accrued liabilities | 24,995 | 22,296 | 20,973 |
Accrued income taxes | 548 | 280 | 327 |
Long-term debt due within one year | 4,358 | 5,362 | 4,093 |
Operating lease obligations due within one year | 1,725 | 1,793 | 1,740 |
Finance lease obligations due within one year | 574 | 511 | 468 |
Total current liabilities | 88,121 | 77,790 | 83,784 |
Long-term debt | 40,849 | 43,714 | 44,912 |
Long-term operating lease obligations | 15,982 | 16,171 | 15,741 |
Long-term finance lease obligations | 4,750 | 4,307 | 4,068 |
Deferred income taxes and other | 13,657 | 12,961 | 13,018 |
Commitments and contingencies | |||
Equity: | |||
Common stock | 283 | 284 | 284 |
Capital in excess of par value | 3,485 | 3,247 | 3,091 |
Retained earnings | 92,279 | 83,943 | 80,656 |
Accumulated other comprehensive loss | (14,616) | (12,805) | (12,382) |
Total Walmart shareholders' equity | 81,431 | 74,669 | 71,649 |
Noncontrolling interest | 6,073 | 6,883 | 6,658 |
Total equity | 87,504 | 81,552 | 78,307 |
Total liabilities and equity | $ 250,863 | $ 236,495 | $ 239,830 |
Condensed Consolidated Statem_3
Condensed Consolidated Statement Of Shareholders' Equity (Unaudited) - USD ($) shares in Millions, $ in Millions | Total | Cumulative Effect, Period of Adoption, Adjustment | Common Stock | Capital in excess of par value | Retained earnings | Retained earningsCumulative Effect, Period of Adoption, Adjustment | Accumulated other comprehensive loss | Total Walmart shareholders' equity | Total Walmart shareholders' equityCumulative Effect, Period of Adoption, Adjustment | Noncontrolling interest | Noncontrolling interestCumulative Effect, Period of Adoption, Adjustment |
Beginning balance (in shares) at Jan. 31, 2019 | 2,878 | ||||||||||
Beginning balance at Jan. 31, 2019 | $ 79,634 | $ (300) | $ 288 | $ 2,965 | $ 80,785 | $ (266) | $ (11,542) | $ 72,496 | $ (266) | $ 7,138 | $ (34) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||
Consolidated net income | 3,906 | 3,842 | 3,842 | 64 | |||||||
Other comprehensive income (loss), net of income taxes | 485 | 451 | 451 | 34 | |||||||
Dividends declared | (6,071) | (6,071) | (6,071) | ||||||||
Purchase of Company stock (in shares) | (21) | ||||||||||
Purchase of Company stock, Value | (2,087) | $ (2) | (73) | (2,012) | (2,087) | ||||||
Dividends declared to noncontrolling interests | (481) | (481) | |||||||||
Other (in shares) | 5 | ||||||||||
Stockholders' Equity, Other | (176) | (158) | (2) | (160) | (16) | ||||||
Ending balance (in shares) at Apr. 30, 2019 | 2,862 | ||||||||||
Ending balance at Apr. 30, 2019 | 74,910 | $ 286 | 2,734 | 76,276 | (11,091) | 68,205 | 6,705 | ||||
Beginning balance (in shares) at Jan. 31, 2019 | 2,878 | ||||||||||
Beginning balance at Jan. 31, 2019 | 79,634 | $ (300) | $ 288 | 2,965 | 80,785 | $ (266) | (11,542) | 72,496 | $ (266) | 7,138 | $ (34) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||
Consolidated net income | 10,907 | ||||||||||
Other comprehensive income (loss), net of income taxes | $ (915) | ||||||||||
Dividends declared per common share (in dollars per share) | $ 2.12 | ||||||||||
Ending balance (in shares) at Oct. 31, 2019 | 2,839 | ||||||||||
Ending balance at Oct. 31, 2019 | $ 78,307 | $ 284 | 3,091 | 80,656 | (12,382) | 71,649 | 6,658 | ||||
Beginning balance (in shares) at Apr. 30, 2019 | 2,862 | ||||||||||
Beginning balance at Apr. 30, 2019 | 74,910 | $ 286 | 2,734 | 76,276 | (11,091) | 68,205 | 6,705 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||
Consolidated net income | 3,680 | 3,610 | 3,610 | 70 | |||||||
Other comprehensive income (loss), net of income taxes | (95) | (179) | (179) | 84 | |||||||
Dividends declared | 15 | 15 | 15 | ||||||||
Purchase of Company stock (in shares) | (15) | ||||||||||
Purchase of Company stock, Value | (1,555) | $ (2) | (54) | (1,499) | (1,555) | ||||||
Dividends declared to noncontrolling interests | 6 | 6 | |||||||||
Stockholders' Equity, Other | 170 | $ 1 | 200 | 30 | 231 | (61) | |||||
Ending balance (in shares) at Jul. 31, 2019 | 2,847 | ||||||||||
Ending balance at Jul. 31, 2019 | 77,131 | $ 285 | 2,880 | 78,432 | (11,270) | 70,327 | 6,804 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||
Consolidated net income | 3,321 | 3,288 | 3,288 | 33 | |||||||
Other comprehensive income (loss), net of income taxes | $ (1,305) | (1,112) | (1,112) | (193) | |||||||
Dividends declared per common share (in dollars per share) | $ 0 | ||||||||||
Dividends declared | $ 5 | 5 | 5 | ||||||||
Purchase of Company stock (in shares) | (10) | ||||||||||
Purchase of Company stock, Value | (1,108) | $ (1) | (39) | (1,068) | (1,108) | ||||||
Dividends declared to noncontrolling interests | 3 | 3 | |||||||||
Other (in shares) | 2 | ||||||||||
Stockholders' Equity, Other | 260 | 250 | (1) | 249 | 11 | ||||||
Ending balance (in shares) at Oct. 31, 2019 | 2,839 | ||||||||||
Ending balance at Oct. 31, 2019 | 78,307 | $ 284 | 3,091 | 80,656 | (12,382) | 71,649 | 6,658 | ||||
Beginning balance (in shares) at Jan. 31, 2020 | 2,832 | ||||||||||
Beginning balance at Jan. 31, 2020 | 81,552 | $ 284 | 3,247 | 83,943 | (12,805) | 74,669 | 6,883 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||
Consolidated net income | 4,074 | 3,990 | 3,990 | 84 | |||||||
Other comprehensive income (loss), net of income taxes | (4,075) | (3,363) | (3,363) | (712) | |||||||
Dividends declared | (6,117) | (6,117) | (6,117) | ||||||||
Purchase of Company stock (in shares) | (6) | ||||||||||
Purchase of Company stock, Value | (693) | $ (1) | (26) | (666) | (693) | ||||||
Dividends declared to noncontrolling interests | (359) | (359) | |||||||||
Other (in shares) | 6 | ||||||||||
Stockholders' Equity, Other | (272) | $ 1 | (238) | (9) | (246) | (26) | |||||
Ending balance (in shares) at Apr. 30, 2020 | 2,832 | ||||||||||
Ending balance at Apr. 30, 2020 | 74,110 | $ 284 | 2,983 | 81,141 | (16,168) | 68,240 | 5,870 | ||||
Beginning balance (in shares) at Jan. 31, 2020 | 2,832 | ||||||||||
Beginning balance at Jan. 31, 2020 | 81,552 | $ 284 | 3,247 | 83,943 | (12,805) | 74,669 | 6,883 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||
Consolidated net income | 15,714 | ||||||||||
Other comprehensive income (loss), net of income taxes | $ (2,362) | ||||||||||
Dividends declared per common share (in dollars per share) | $ 2.16 | ||||||||||
Ending balance (in shares) at Oct. 31, 2020 | 2,831 | ||||||||||
Ending balance at Oct. 31, 2020 | $ 87,504 | $ 283 | 3,485 | 92,279 | (14,616) | 81,431 | 6,073 | ||||
Beginning balance (in shares) at Apr. 30, 2020 | 2,832 | ||||||||||
Beginning balance at Apr. 30, 2020 | 74,110 | $ 284 | 2,983 | 81,141 | (16,168) | 68,240 | 5,870 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||
Consolidated net income | 6,439 | 6,476 | 6,476 | (37) | |||||||
Other comprehensive income (loss), net of income taxes | 436 | 384 | 384 | 52 | |||||||
Dividends declared to noncontrolling interests | (3) | (3) | |||||||||
Other (in shares) | 2 | ||||||||||
Stockholders' Equity, Other | 215 | $ (1) | 214 | (3) | 210 | 5 | |||||
Ending balance (in shares) at Jul. 31, 2020 | 2,834 | ||||||||||
Ending balance at Jul. 31, 2020 | 81,197 | $ 283 | 3,197 | 87,614 | (15,784) | 75,310 | 5,887 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||
Consolidated net income | 5,201 | 5,135 | 5,135 | 66 | |||||||
Other comprehensive income (loss), net of income taxes | $ 1,277 | 1,168 | 1,168 | 109 | |||||||
Dividends declared per common share (in dollars per share) | $ 0 | ||||||||||
Purchase of Company stock (in shares) | (4) | ||||||||||
Purchase of Company stock, Value | $ (486) | (17) | (469) | (486) | |||||||
Dividends declared to noncontrolling interests | (8) | (8) | |||||||||
Other (in shares) | 1 | ||||||||||
Stockholders' Equity, Other | 323 | 305 | (1) | 304 | 19 | ||||||
Ending balance (in shares) at Oct. 31, 2020 | 2,831 | ||||||||||
Ending balance at Oct. 31, 2020 | $ 87,504 | $ 283 | $ 3,485 | $ 92,279 | $ (14,616) | $ 81,431 | $ 6,073 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions | 9 Months Ended | |
Oct. 31, 2020 | Oct. 31, 2019 | |
Cash flows from operating activities: | ||
Consolidated net income | $ 15,714 | $ 10,907 |
Adjustments to reconcile consolidated net income to net cash provided by operating activities: | ||
Depreciation and amortization | 8,333 | 8,159 |
Unrealized (gains) and losses | (6,883) | (911) |
Losses and (gains) on disposal of business operations | 1,028 | (1) |
Deferred income taxes | 1,246 | 574 |
Other operating activities | 930 | 938 |
Changes in certain assets and liabilities, net of effects of acquisitions and dispositions: | ||
Receivables, net | 165 | 661 |
Inventories | (8,260) | (7,558) |
Accounts payable | 8,553 | 2,925 |
Accrued liabilities | 1,796 | (1,107) |
Accrued income taxes | 258 | (48) |
Net cash provided by operating activities | 22,880 | 14,539 |
Cash flows from investing activities: | ||
Payments for property and equipment | (6,438) | (7,765) |
Proceeds from the disposal of property and equipment | 99 | 218 |
Proceeds from the disposal of certain operations | 12 | 833 |
Payments for business acquisitions, net of cash acquired | (180) | (56) |
Other investing activities | 0 | 485 |
Net cash used in investing activities | (6,507) | (6,285) |
Cash flows from financing activities: | ||
Net change in short-term borrowings | (301) | (282) |
Proceeds from issuance of long-term debt | 0 | 5,492 |
Repayments of long-term debt | (4,132) | (1,907) |
Dividends paid | (4,582) | (4,545) |
Purchase of Company stock | (1,186) | (4,829) |
Dividends paid to noncontrolling interest | (76) | (407) |
Other financing activities | (1,063) | (735) |
Net cash used in financing activities | (11,340) | (7,213) |
Effect of exchange rates on cash, cash equivalents and restricted cash | (170) | (166) |
Net increase in cash, cash equivalents and restricted cash | 4,863 | 875 |
Cash, cash equivalents and restricted cash at beginning of year | 9,515 | 7,756 |
Cash, cash equivalents and restricted cash at end of period | $ 14,378 | $ 8,631 |
Summary of Significant Accounti
Summary of Significant Accounting Policies (Notes) | 9 Months Ended |
Oct. 31, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies Basis of Presentation The Condensed Consolidated Financial Statements of Walmart Inc. and its subsidiaries ("Walmart" or the "Company") and the accompanying notes included in this Quarterly Report on Form 10-Q are unaudited. In the opinion of management, all adjustments necessary for the fair presentation of the Condensed Consolidated Financial Statements have been included. Such adjustments are of a normal, recurring nature. The Condensed Consolidated Financial Statements, and the accompanying notes, are prepared in accordance with generally accepted accounting principles in the United States ("GAAP") and do not contain certain information included in the Company's Annual Report on Form 10-K for the fiscal year ended January 31, 2020 ("fiscal 2020"). Therefore, the interim Condensed Consolidated Financial Statements should be read in conjunction with that Annual Report on Form 10-K. The Company's Consolidated Financial Statements are based on a fiscal year ending January 31 for the United States ("U.S.") and Canadian operations. The Company consolidates all other operations generally using a one-month lag and based on a calendar year. There were no significant intervening events during the month of October related to the consolidated operations using a lag that materially affected the Condensed Consolidated Financial Statements. The Company's business is seasonal to a certain extent due to calendar events and national and religious holidays, as well as weather patterns. Historically, the Company's highest sales volume and operating income have occurred in the fiscal quarter ending January 31. Use of Estimates The Consolidated Financial Statements have been prepared in conformity with GAAP. Those principles require management to make estimates and assumptions, including potential impacts arising from the COVID-19 pandemic and related government actions, that affect the reported amounts of assets and liabilities. Management's estimates and assumptions also affect 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. Actual results may differ materially from those estimates. Receivables In June 2016, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2016-13, Financial Instruments–Credit Losses (Topic 326) , which modifies the measurement of expected credit losses of certain financial instruments. The Company adopted this ASU on February 1, 2020 with no material impact to the Company's Condensed Consolidated Financial Statements. |
Net Income Per Common Share (No
Net Income Per Common Share (Notes) | 9 Months Ended |
Oct. 31, 2020 | |
Earnings Per Share [Abstract] | |
Net Income Per Common Share | Net Income Per Common Share Basic net income per common share attributable to Walmart is based on the weighted-average common shares outstanding during the relevant period. Diluted net income per common share attributable to Walmart is based on the weighted-average common shares outstanding during the relevant period adjusted for the dilutive effect of share-based awards. The Company did not have significant share-based awards outstanding that were anti-dilutive and not included in the calculation of diluted net income per common share attributable to Walmart for the three and nine months ended October 31, 2020 and 2019. The following table provides a reconciliation of the numerators and denominators used to determine basic and diluted net income per common share attributable to Walmart: Three Months Ended October 31, Nine Months Ended October 31, (Amounts in millions, except per share data) 2020 2019 2020 2019 Numerator Consolidated net income $ 5,201 $ 3,321 $ 15,714 $ 10,907 Consolidated net income attributable to noncontrolling interest (66) (33) (113) (167) Consolidated net income attributable to Walmart $ 5,135 $ 3,288 $ 15,601 $ 10,740 Denominator Weighted-average common shares outstanding, basic 2,833 2,843 2,832 2,855 Dilutive impact of share-based awards 16 18 17 17 Weighted-average common shares outstanding, diluted 2,849 2,861 2,849 2,872 Net income per common share attributable to Walmart Basic $ 1.81 $ 1.16 $ 5.51 $ 3.76 Diluted 1.80 1.15 5.48 3.74 |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Loss (Notes) | 9 Months Ended |
Oct. 31, 2020 | |
Other Comprehensive Income (Loss), Tax [Abstract] | |
Accumulated Other Comprehensive Loss | Accumulated Other Comprehensive Loss The following table provides the changes in the composition of total accumulated other comprehensive loss for the three months ended April 30, 2020, July 31, 2020 and October 31, 2020: (Amounts in millions and net of immaterial income taxes) Currency Net Investment Hedges Cash Flow Hedges Minimum Total Balances as of February 1, 2020 $ (11,827) $ 1,517 $ (539) $ (1,956) $ (12,805) Other comprehensive income (loss) before reclassifications, net (3,256) 157 (295) (4) (3,398) Reclassifications to income, net — — 16 19 35 Balances as of April 30, 2020 $ (15,083) $ 1,674 $ (818) $ (1,941) $ (16,168) Other comprehensive income (loss) before reclassifications, net 246 (191) 303 (2) 356 Reclassifications to income, net — — 10 18 28 Balances as of July 31, 2020 $ (14,837) $ 1,483 $ (505) $ (1,925) $ (15,784) Other comprehensive income (loss) before reclassifications, net 1,153 (1) (13) (3) 1,136 Reclassifications to income, net — — 13 19 32 Balances as of October 31, 2020 $ (13,684) $ 1,482 $ (505) $ (1,909) $ (14,616) The following table provides the changes in the composition of total accumulated other comprehensive loss for the three months ended April 30, 2019, July 31, 2019 and October 31, 2019: (Amounts in millions and net of immaterial income taxes) Currency Net Investment Hedges Cash Flow Hedges Minimum Total Balances as of February 1, 2019 $ (12,085) $ 1,395 $ (140) $ (712) $ (11,542) Other comprehensive income (loss) before reclassifications, net 496 108 (145) (7) 452 Reclassifications to income, net (23) — 14 8 (1) Balances as of April 30, 2019 $ (11,612) $ 1,503 $ (271) $ (711) $ (11,091) Other comprehensive income (loss) before reclassifications, net (165) 140 (172) (5) (202) Reclassifications to income, net — — 14 9 23 Balances as of July 31, 2019 $ (11,777) $ 1,643 $ (429) $ (707) $ (11,270) Other comprehensive income (loss) before reclassifications, net (995) (113) (12) 6 (1,114) Reclassifications to income, net — — — 2 2 Balances as of October 31, 2019 $ (12,772) $ 1,530 $ (441) $ (699) $ (12,382) |
Short-term Borrowings and Long-
Short-term Borrowings and Long-term Debt (Notes) | 9 Months Ended |
Oct. 31, 2020 | |
Debt Disclosure [Abstract] | |
Short-term Borrowings and Long-term Debt | Short-term Borrowings and Long-term Debt The Company has various committed lines of credit in the U.S. that are used to support its commercial paper program. In April 2020, the Company renewed and extended its existing 364-day revolving credit facility of $10.0 billion. In total, the Company had committed lines of credit in the U.S. of $15.0 billion at October 31, 2020 and January 31, 2020, all undrawn. The following table provides the changes in the Company's long-term debt for the nine months ended October 31, 2020: (Amounts in millions) Long-term debt due within one year Long-term debt Total Balances as of February 1, 2020 $ 5,362 $ 43,714 $ 49,076 Repayments of long-term debt (4,132) — (4,132) Reclassifications of long-term debt 3,126 (3,126) — Other 2 261 263 Balances as of October 31, 2020 $ 4,358 $ 40,849 $ 45,207 |
Fair Value Measurements (Notes)
Fair Value Measurements (Notes) | 9 Months Ended |
Oct. 31, 2020 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair Value Measurements Assets and liabilities recorded at fair value are measured using the fair value hierarchy, which prioritizes the inputs used in measuring fair value. The levels of the fair value hierarchy are: • Level 1: observable inputs such as quoted prices in active markets; • Level 2: inputs other than quoted prices in active markets that are either directly or indirectly observable; and • Level 3: unobservable inputs for which little or no market data exists, therefore requiring the Company to develop its own assumptions. The Company measures the fair value of equity investments on a recurring basis in the accompanying Condensed Consolidated Balance Sheets. The fair value of the Company's equity investments recorded in other long-term assets are as follows: (Amounts in millions) Fair Value as of October 31, 2020 Fair Value as of January 31, 2020 Equity investments measured using Level 1 inputs $ 5,987 $ 2,715 Equity investments measured using Level 2 inputs 6,782 2,723 Total $ 12,769 $ 5,438 Derivatives The Company also has derivatives recorded at fair value. Derivative fair values are the estimated amounts the Company would receive or pay upon termination of the related derivative agreements as of the reporting dates. The fair values have been measured using the income approach and Level 2 inputs, which include the relevant interest rate and foreign currency forward curves. As of October 31, 2020 and January 31, 2020, the notional amounts and fair values of these derivatives were as follows: October 31, 2020 January 31, 2020 (Amounts in millions) Notional Amount Fair Value Notional Amount Fair Value Receive fixed-rate, pay variable-rate interest rate swaps designated as fair value hedges $ 3,250 $ 177 (1) $ 4,000 $ 97 (1) Receive fixed-rate, pay fixed-rate cross-currency swaps designated as net investment hedges 3,500 446 (1) 3,750 455 (1) Receive fixed-rate, pay fixed-rate cross-currency swaps designated as cash flow hedges 4,206 (722) (2) 4,067 (696) (2) Total $ 10,956 $ (99) $ 11,817 $ (144) (1) Classified in Other long-term assets within the Company's Condensed Consolidated Balance Sheets. (2) Classified in Deferred income taxes and other within the Company's Condensed Consolidated Balance Sheets. Nonrecurring Fair Value Measurements In addition to assets and liabilities that are recorded at fair value on a recurring basis, the Company's assets and liabilities are also subject to nonrecurring fair value measurements. Generally, assets are recorded at fair value on a nonrecurring basis as a result of impairment charges. The Company did not have any material assets or liabilities subject to nonrecurring fair value measurements as of October 31, 2020. Refer to Note 6 for additional information regarding the sale of Walmart Argentina. Other Fair Value Disclosures The Company records cash and cash equivalents, restricted cash, and short-term borrowings at cost. The carrying values of these instruments approximate their fair value due to their short-term maturities. The Company's long-term debt is also recorded at cost. The fair value is estimated using Level 2 inputs based on the Company's current incremental borrowing rate for similar types of borrowing arrangements. The carrying value and fair value of the Company's long-term debt as of October 31, 2020 and January 31, 2020, are as follows: October 31, 2020 January 31, 2020 (Amounts in millions) Carrying Value Fair Value Carrying Value Fair Value Long-term debt, including amounts due within one year $ 45,207 $ 55,257 $ 49,076 $ 57,769 |
Divestitures
Divestitures | 9 Months Ended |
Oct. 31, 2020 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Divestitures | Divestitures During fiscal 2021, the Company announced the following actions related to the Company's Walmart International segment. Asda In October 2020, the Company entered into a definitive agreement and announced the proposed divestiture of Asda Group Limited, a wholly-owned subsidiary of the Company ("Asda”), for an enterprise value of £6.8 billion, or approximately $9.1 billion based on current exchange rates. Due to uncertainty of the macro-economic environment and a complex regulatory review process, the outcome of which is uncertain, the held for sale criteria for the disposal group was not met as of October 31, 2020, and accordingly no impacts have been reflected in the Condensed Consolidated Financial Statements. Walmart Argentina In November 2020, the Company completed the sale of Walmart Argentina and classified the disposal group as held for sale as of October 31, 2020 in the Condensed Consolidated Balance Sheet. As a result, the Company recorded a pre-tax loss of $1.0 billion during the three and nine months ended October 31, 2020 in other gains and losses in its Condensed Consolidated Statement of Income primarily due to the impact of cumulative translation losses on the carrying value of the disposal group. Seiyu |
Contingencies (Notes)
Contingencies (Notes) | 9 Months Ended |
Oct. 31, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | |
Contingencies | Contingencies Legal Proceedings The Company is involved in a number of legal proceedings. The Company has made accruals with respect to these matters, where appropriate, which are reflected in the Company's Condensed Consolidated Financial Statements. For some matters, a liability is not probable or the amount cannot be reasonably estimated and therefore an accrual has not been made. However, where a liability is reasonably possible and may be material, such matters have been disclosed. The Company may enter into discussions regarding settlement of these matters, and may enter into settlement agreements, if it believes settlement is in the best interest of the Company and its shareholders. Unless stated otherwise, the matters discussed below, if decided adversely or settled by the Company, individually or in the aggregate, may result in a liability material to the Company's financial condition, results of operations or cash flows. ASDA Equal Value Claims ASDA Stores Ltd., an Asda subsidiary, is a defendant in over 40,000 equal value ("Equal Value") claims that began in 2008 and are proceeding before an Employment Tribunal in Manchester (the "Employment Tribunal") in the United Kingdom ("U.K.") on behalf of current and former Asda store employees, and further claims may be asserted in the future. The claimants allege that the work performed by employees in Asda's retail stores is of equal value in terms of, among other things, the demands of their jobs compared to that of employees working in Asda's warehouse and distribution facilities, and that the difference in pay between these job positions disparately impacts women because more women work in retail stores while more men work in warehouses and distribution facilities, and that the pay difference is not objectively justified. The claimants are requesting differential back pay based on higher wage rates in the warehouse and distribution facilities and higher wage rates on a prospective basis. In October 2016, following a preliminary hearing, the Employment Tribunal ruled that claimants could compare their positions in Asda's retail stores with those of employees in Asda's warehouse and distribution facilities. Asda appealed the ruling and the oral argument was held before the Supreme Court of the United Kingdom in July 2020. The Company is awaiting a decision. Notwithstanding the appeal, claimants are proceeding in the next phase of their claims. That phase will determine whether the work performed by the claimants is of equal value to the work performed by employees in Asda's warehouse and distribution facilities. At present, the Company cannot predict the number of such claims that may be filed, and cannot reasonably estimate any loss or range of loss that may arise from these proceedings. Accordingly, the Company can provide no assurance as to the scope and outcomes of these matters and no assurance as to whether its business, financial position, results of operations or cash flows will not be materially adversely affected. The Company believes it has substantial factual and legal defenses to these claims, and intends to defend the claims vigorously. Prescription Opiate Litigation and Other Matters In December 2017, the U.S. Judicial Panel on Multidistrict Litigation consolidated numerous lawsuits filed against a wide array of defendants by various plaintiffs, including counties, cities, healthcare providers, Native American tribes, individuals, and third-party payors, asserting claims generally concerning the impacts of widespread opioid abuse. The consolidated multidistrict litigation entitled In re National Prescription Opiate Litigation (MDL No. 2804), is pending in the U.S. District Court for the Northern District of Ohio. The Company is named as a defendant in some of the cases included in this multidistrict litigation. Similar cases that name the Company have also been filed in state courts by state, local and tribal governments, health care providers and other plaintiffs. Plaintiffs are seeking compensatory and punitive damages, as well as injunctive relief including abatement. The Company cannot predict the number of such claims that may be filed, but believes it has substantial factual and legal defenses to these claims, and intends to defend the claims vigorously. The Company has also been responding to subpoenas, information requests and investigations from governmental entities related to nationwide controlled substance dispensing and distribution practices involving opioids. On October 22, 2020, the Company filed a declaratory judgment action against the U.S. Department of Justice and the U.S. Drug Enforcement Administration, asking a federal court to clarify the roles and responsibilities of pharmacists and pharmacies as to the dispensing and distribution of opioids under the Controlled Substances Act. The Company cannot reasonably estimate any loss or range of loss that may arise from these matters. Accordingly, the Company can provide no assurance as to the scope and outcome of these matters and no assurance as to whether its business, financial position, results of operations or cash flows will not be materially adversely affected. |
Segments and Disaggregated Reve
Segments and Disaggregated Revenue (Notes) | 9 Months Ended |
Oct. 31, 2020 | |
Segment Reporting Information, Profit (Loss) [Abstract] | |
Segments and Disaggregated Revenue | Segments and Disaggregated Revenue Segments The Company is engaged in the operation of retail, wholesale, eCommerce websites and other units located throughout the U.S., Africa, Argentina, Canada, Central America, Chile, China, India, Japan, Mexico, and the United Kingdom. The Company's operations are conducted in three reportable segments: Walmart U.S., Walmart International and Sam's Club. The Company defines its segments as those operations whose results the chief operating decision maker ("CODM") regularly reviews to analyze performance and allocate resources. The Company sells similar individual products and services in each of its segments. It is impractical to segregate and identify revenues for each of these individual products and services. The Walmart U.S. segment includes the Company's mass merchandising concept in the U.S., as well as eCommerce and omni-channel initiatives. The Walmart International segment consists of the Company's operations outside of the U.S., as well as eCommerce and omni-channel initiatives. The Sam's Club segment includes the warehouse membership clubs in the U.S., as well as samsclub.com and omni-channel initiatives. Corporate and support consists of corporate overhead and other items not allocated to any of the Company's segments. The Company measures the results of its segments using, among other measures, each segment's net sales and operating income, which includes certain corporate overhead allocations. From time to time, the Company revises the measurement of each segment's operating income, including any corporate overhead allocations, as determined by the information regularly reviewed by its CODM. When the measurement of a segment changes, previous period amounts and balances are reclassified to be comparable to the current period's presentation. Beginning with the first quarter in fiscal 2021, the Company revised its definition of eCommerce net sales to include certain pharmacy transactions and, accordingly, revised prior period amounts to maintain comparability. Net sales by segment are as follows: Three Months Ended October 31, Nine Months Ended October 31, (Amounts in millions) 2020 2019 2020 2019 Net sales: Walmart U.S. $ 88,353 $ 83,189 $ 270,378 $ 248,733 Walmart International 29,554 29,167 86,487 87,081 Sam's Club 15,845 14,625 47,383 43,504 Net sales $ 133,752 $ 126,981 $ 404,248 $ 379,318 Operating income by segment, as well as operating loss for corporate and support, interest, net and other gains and losses are as follows: Three Months Ended October 31, Nine Months Ended October 31, (Amounts in millions) 2020 2019 2020 2019 Operating income (loss): Walmart U.S. $ 4,589 $ 4,176 $ 13,948 $ 12,977 Walmart International 1,078 634 2,696 2,265 Sam's Club 431 327 1,517 1,258 Corporate and support (320) (419) (1,100) (1,254) Operating income 5,778 4,718 17,061 15,246 Interest, net 516 589 1,700 1,799 Other (gains) and losses (1,853) (244) (5,796) (996) Income before income taxes $ 7,115 $ 4,373 $ 21,157 $ 14,443 Disaggregated Revenues In the following tables, segment net sales are disaggregated by either merchandise category or by market. From time to time, the Company revises the assignment of net sales of a particular item to a merchandise category. When the assignment changes, previous period amounts are reclassified to be comparable to the current period's presentation. In addition, net sales related to eCommerce are provided for each segment, which include omni-channel sales, where a customer initiates an order digitally and the order is fulfilled through a store or club. (Amounts in millions) Three Months Ended October 31, Nine Months Ended October 31, Walmart U.S. net sales by merchandise category 2020 2019 2020 2019 Grocery $ 50,683 $ 48,117 $ 155,149 $ 142,511 General merchandise 26,927 24,964 84,075 76,602 Health and wellness 9,806 9,225 28,560 27,113 Other categories 937 883 2,594 2,507 Total $ 88,353 $ 83,189 $ 270,378 $ 248,733 Of Walmart U.S.'s total net sales, approximately $10.3 billion and $5.7 billion related to eCommerce for the three months ended October 31, 2020 and 2019, respectively. Approximately $29.1 billion and $15.8 billion related to eCommerce for the nine months ended October 31, 2020 and 2019, respectively. (Amounts in millions) Three Months Ended October 31, Nine Months Ended October 31, Walmart International net sales by market 2020 2019 2020 2019 Mexico and Central America $ 7,429 $ 7,913 $ 23,133 $ 23,765 United Kingdom 7,249 6,961 21,079 21,355 Canada 4,969 4,608 14,383 13,366 China 2,787 2,718 8,735 8,209 Other 7,120 6,967 19,157 20,386 Total $ 29,554 $ 29,167 $ 86,487 $ 87,081 Of Walmart International's total net sales, approximately $4.3 billion and $2.9 billion related to eCommerce for the three months ended October 31, 2020 and 2019, respectively. Approximately $10.5 billion and $7.9 billion related to eCommerce for the nine months ended October 31, 2020 and 2019, respectively. (Amounts in millions) Three Months Ended October 31, Nine Months Ended October 31, Sam’s Club net sales by merchandise category 2020 2019 2020 2019 Grocery and consumables $ 10,450 $ 8,900 $ 31,526 $ 26,151 Fuel, tobacco and other categories 1,942 2,646 6,023 8,127 Home and apparel 1,693 1,532 4,926 4,725 Health and wellness 1,017 858 2,849 2,527 Technology, office and entertainment 743 689 2,059 1,974 Total $ 15,845 $ 14,625 $ 47,383 $ 43,504 Of Sam's Club's total net sales, approximately $1.3 billion and $0.9 billion related to eCommerce for the three months ended October 31, 2020 and 2019, respectively. Approximately $3.7 billion and $2.6 billion related to eCommerce for the nine months ended October 31, 2020 and 2019, respectively. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Oct. 31, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | Basis of Presentation The Condensed Consolidated Financial Statements of Walmart Inc. and its subsidiaries ("Walmart" or the "Company") and the accompanying notes included in this Quarterly Report on Form 10-Q are unaudited. In the opinion of management, all adjustments necessary for the fair presentation of the Condensed Consolidated Financial Statements have been included. Such adjustments are of a normal, recurring nature. The Condensed Consolidated Financial Statements, and the accompanying notes, are prepared in accordance with generally accepted accounting principles in the United States ("GAAP") and do not contain certain information included in the Company's Annual Report on Form 10-K for the fiscal year ended January 31, 2020 ("fiscal 2020"). Therefore, the interim Condensed Consolidated Financial Statements should be read in conjunction with that Annual Report on Form 10-K. The Company's Consolidated Financial Statements are based on a fiscal year ending January 31 for the United States ("U.S.") and Canadian operations. The Company consolidates all other operations generally using a one-month lag and based on a calendar year. There were no significant intervening events during the month of October related to the consolidated operations using a lag that materially affected the Condensed Consolidated Financial Statements. The Company's business is seasonal to a certain extent due to calendar events and national and religious holidays, as well as weather patterns. Historically, the Company's highest sales volume and operating income have occurred in the fiscal quarter ending January 31. |
Use of Estimates | Use of Estimates The Consolidated Financial Statements have been prepared in conformity with GAAP. Those principles require management to make estimates and assumptions, including potential impacts arising from the COVID-19 pandemic and related government actions, that affect the reported amounts of assets and liabilities. Management's estimates and assumptions also affect 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. Actual results may differ materially from those estimates. |
New Accounting Pronouncements | In June 2016, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2016-13, Financial Instruments–Credit Losses (Topic 326) , which modifies the measurement of expected credit losses of certain financial instruments. The Company adopted this ASU on February 1, 2020 with no material impact to the Company's Condensed Consolidated Financial Statements. |
Receivables | Receivables are stated at their carrying values, net of a reserve for credit losses, and are primarily due from the following: customers, which also includes insurance companies resulting from pharmacy sales, banks for customer credit, debit cards and electronic transfer transactions that take in excess of seven days to process; suppliers for marketing or incentive programs; governments for income taxes; and real estate transactions. |
Net Income Per Common Share (Ta
Net Income Per Common Share (Tables) | 9 Months Ended |
Oct. 31, 2020 | |
Earnings Per Share [Abstract] | |
Schedule of calculation of numerator and denominator in earnings per share | The following table provides a reconciliation of the numerators and denominators used to determine basic and diluted net income per common share attributable to Walmart: Three Months Ended October 31, Nine Months Ended October 31, (Amounts in millions, except per share data) 2020 2019 2020 2019 Numerator Consolidated net income $ 5,201 $ 3,321 $ 15,714 $ 10,907 Consolidated net income attributable to noncontrolling interest (66) (33) (113) (167) Consolidated net income attributable to Walmart $ 5,135 $ 3,288 $ 15,601 $ 10,740 Denominator Weighted-average common shares outstanding, basic 2,833 2,843 2,832 2,855 Dilutive impact of share-based awards 16 18 17 17 Weighted-average common shares outstanding, diluted 2,849 2,861 2,849 2,872 Net income per common share attributable to Walmart Basic $ 1.81 $ 1.16 $ 5.51 $ 3.76 Diluted 1.80 1.15 5.48 3.74 |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Loss (Tables) | 9 Months Ended |
Oct. 31, 2020 | |
Other Comprehensive Income (Loss), Tax [Abstract] | |
Composition of accumulated other comprehensive loss | The following table provides the changes in the composition of total accumulated other comprehensive loss for the three months ended April 30, 2020, July 31, 2020 and October 31, 2020: (Amounts in millions and net of immaterial income taxes) Currency Net Investment Hedges Cash Flow Hedges Minimum Total Balances as of February 1, 2020 $ (11,827) $ 1,517 $ (539) $ (1,956) $ (12,805) Other comprehensive income (loss) before reclassifications, net (3,256) 157 (295) (4) (3,398) Reclassifications to income, net — — 16 19 35 Balances as of April 30, 2020 $ (15,083) $ 1,674 $ (818) $ (1,941) $ (16,168) Other comprehensive income (loss) before reclassifications, net 246 (191) 303 (2) 356 Reclassifications to income, net — — 10 18 28 Balances as of July 31, 2020 $ (14,837) $ 1,483 $ (505) $ (1,925) $ (15,784) Other comprehensive income (loss) before reclassifications, net 1,153 (1) (13) (3) 1,136 Reclassifications to income, net — — 13 19 32 Balances as of October 31, 2020 $ (13,684) $ 1,482 $ (505) $ (1,909) $ (14,616) The following table provides the changes in the composition of total accumulated other comprehensive loss for the three months ended April 30, 2019, July 31, 2019 and October 31, 2019: (Amounts in millions and net of immaterial income taxes) Currency Net Investment Hedges Cash Flow Hedges Minimum Total Balances as of February 1, 2019 $ (12,085) $ 1,395 $ (140) $ (712) $ (11,542) Other comprehensive income (loss) before reclassifications, net 496 108 (145) (7) 452 Reclassifications to income, net (23) — 14 8 (1) Balances as of April 30, 2019 $ (11,612) $ 1,503 $ (271) $ (711) $ (11,091) Other comprehensive income (loss) before reclassifications, net (165) 140 (172) (5) (202) Reclassifications to income, net — — 14 9 23 Balances as of July 31, 2019 $ (11,777) $ 1,643 $ (429) $ (707) $ (11,270) Other comprehensive income (loss) before reclassifications, net (995) (113) (12) 6 (1,114) Reclassifications to income, net — — — 2 2 Balances as of October 31, 2019 $ (12,772) $ 1,530 $ (441) $ (699) $ (12,382) |
Short-term Borrowings and Lon_2
Short-term Borrowings and Long-term Debt (Tables) | 9 Months Ended |
Oct. 31, 2020 | |
Debt Disclosure [Abstract] | |
Schedule of Long-term Debt Instruments [Table Text Block] | The following table provides the changes in the Company's long-term debt for the nine months ended October 31, 2020: (Amounts in millions) Long-term debt due within one year Long-term debt Total Balances as of February 1, 2020 $ 5,362 $ 43,714 $ 49,076 Repayments of long-term debt (4,132) — (4,132) Reclassifications of long-term debt 3,126 (3,126) — Other 2 261 263 Balances as of October 31, 2020 $ 4,358 $ 40,849 $ 45,207 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 9 Months Ended |
Oct. 31, 2020 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements, Recurring and Nonrecurring | The fair value of the Company's equity investments recorded in other long-term assets are as follows: (Amounts in millions) Fair Value as of October 31, 2020 Fair Value as of January 31, 2020 Equity investments measured using Level 1 inputs $ 5,987 $ 2,715 Equity investments measured using Level 2 inputs 6,782 2,723 Total $ 12,769 $ 5,438 |
Notional amounts and fair values of derivatives | As of October 31, 2020 and January 31, 2020, the notional amounts and fair values of these derivatives were as follows: October 31, 2020 January 31, 2020 (Amounts in millions) Notional Amount Fair Value Notional Amount Fair Value Receive fixed-rate, pay variable-rate interest rate swaps designated as fair value hedges $ 3,250 $ 177 (1) $ 4,000 $ 97 (1) Receive fixed-rate, pay fixed-rate cross-currency swaps designated as net investment hedges 3,500 446 (1) 3,750 455 (1) Receive fixed-rate, pay fixed-rate cross-currency swaps designated as cash flow hedges 4,206 (722) (2) 4,067 (696) (2) Total $ 10,956 $ (99) $ 11,817 $ (144) (1) Classified in Other long-term assets within the Company's Condensed Consolidated Balance Sheets. (2) Classified in Deferred income taxes and other within the Company's Condensed Consolidated Balance Sheets. |
Carrying value and fair value of long-term debt | The carrying value and fair value of the Company's long-term debt as of October 31, 2020 and January 31, 2020, are as follows: October 31, 2020 January 31, 2020 (Amounts in millions) Carrying Value Fair Value Carrying Value Fair Value Long-term debt, including amounts due within one year $ 45,207 $ 55,257 $ 49,076 $ 57,769 |
Segments and Disaggregated Re_2
Segments and Disaggregated Revenue (Tables) | 9 Months Ended |
Oct. 31, 2020 | |
Disaggregation of Revenue [Line Items] | |
Segment Net Sales | Net sales by segment are as follows: Three Months Ended October 31, Nine Months Ended October 31, (Amounts in millions) 2020 2019 2020 2019 Net sales: Walmart U.S. $ 88,353 $ 83,189 $ 270,378 $ 248,733 Walmart International 29,554 29,167 86,487 87,081 Sam's Club 15,845 14,625 47,383 43,504 Net sales $ 133,752 $ 126,981 $ 404,248 $ 379,318 |
Operating Income by Segment, Interest, Net, and Unrealized (Gains) and Losses | Operating income by segment, as well as operating loss for corporate and support, interest, net and other gains and losses are as follows: Three Months Ended October 31, Nine Months Ended October 31, (Amounts in millions) 2020 2019 2020 2019 Operating income (loss): Walmart U.S. $ 4,589 $ 4,176 $ 13,948 $ 12,977 Walmart International 1,078 634 2,696 2,265 Sam's Club 431 327 1,517 1,258 Corporate and support (320) (419) (1,100) (1,254) Operating income 5,778 4,718 17,061 15,246 Interest, net 516 589 1,700 1,799 Other (gains) and losses (1,853) (244) (5,796) (996) Income before income taxes $ 7,115 $ 4,373 $ 21,157 $ 14,443 |
Walmart U.S. | |
Disaggregation of Revenue [Line Items] | |
Disaggregation of Revenue | (Amounts in millions) Three Months Ended October 31, Nine Months Ended October 31, Walmart U.S. net sales by merchandise category 2020 2019 2020 2019 Grocery $ 50,683 $ 48,117 $ 155,149 $ 142,511 General merchandise 26,927 24,964 84,075 76,602 Health and wellness 9,806 9,225 28,560 27,113 Other categories 937 883 2,594 2,507 Total $ 88,353 $ 83,189 $ 270,378 $ 248,733 |
Walmart International | |
Disaggregation of Revenue [Line Items] | |
Disaggregation of Revenue | (Amounts in millions) Three Months Ended October 31, Nine Months Ended October 31, Walmart International net sales by market 2020 2019 2020 2019 Mexico and Central America $ 7,429 $ 7,913 $ 23,133 $ 23,765 United Kingdom 7,249 6,961 21,079 21,355 Canada 4,969 4,608 14,383 13,366 China 2,787 2,718 8,735 8,209 Other 7,120 6,967 19,157 20,386 Total $ 29,554 $ 29,167 $ 86,487 $ 87,081 |
Sam's Club | |
Disaggregation of Revenue [Line Items] | |
Disaggregation of Revenue | (Amounts in millions) Three Months Ended October 31, Nine Months Ended October 31, Sam’s Club net sales by merchandise category 2020 2019 2020 2019 Grocery and consumables $ 10,450 $ 8,900 $ 31,526 $ 26,151 Fuel, tobacco and other categories 1,942 2,646 6,023 8,127 Home and apparel 1,693 1,532 4,926 4,725 Health and wellness 1,017 858 2,849 2,527 Technology, office and entertainment 743 689 2,059 1,974 Total $ 15,845 $ 14,625 $ 47,383 $ 43,504 |
Net Income Per Common Share (De
Net Income Per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | 9 Months Ended | ||||||
Oct. 31, 2020 | Jul. 31, 2020 | Apr. 30, 2020 | Oct. 31, 2019 | Jul. 31, 2019 | Apr. 30, 2019 | Oct. 31, 2020 | Oct. 31, 2019 | |
Numerator | ||||||||
Consolidated net income | $ 5,201 | $ 6,439 | $ 4,074 | $ 3,321 | $ 3,680 | $ 3,906 | $ 15,714 | $ 10,907 |
Consolidated net income attributable to noncontrolling interest | (66) | (33) | (113) | (167) | ||||
Consolidated net income attributable to Walmart | $ 5,135 | $ 3,288 | $ 15,601 | $ 10,740 | ||||
Denominator | ||||||||
Weighted-average common shares outstanding, basic | 2,833 | 2,843 | 2,832 | 2,855 | ||||
Dilutive impact of share-based awards | 16 | 18 | 17 | 17 | ||||
Weighted-average common shares outstanding, diluted | 2,849 | 2,861 | 2,849 | 2,872 | ||||
Net income per common share attributable to Walmart | ||||||||
Basic | $ 1.81 | $ 1.16 | $ 5.51 | $ 3.76 | ||||
Diluted | $ 1.80 | $ 1.15 | $ 5.48 | $ 3.74 |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions | 3 Months Ended | |||||
Oct. 31, 2020 | Jul. 31, 2020 | Apr. 30, 2020 | Oct. 31, 2019 | Jul. 31, 2019 | Apr. 30, 2019 | |
Accumulated Other Comprehensive Income Loss [Line Items] | ||||||
Beginning balance | $ 81,197 | $ 74,110 | $ 81,552 | $ 77,131 | $ 74,910 | $ 79,634 |
Ending balance | 87,504 | 81,197 | 74,110 | 78,307 | 77,131 | 74,910 |
Currency Translation and Other | ||||||
Accumulated Other Comprehensive Income Loss [Line Items] | ||||||
Beginning balance | (14,837) | (15,083) | (11,827) | (11,777) | (11,612) | (12,085) |
Other comprehensive income (loss) before reclassifications | 1,153 | 246 | (3,256) | (995) | (165) | 496 |
Amounts reclassified from accumulated other comprehensive income (loss) | 0 | 0 | 0 | 0 | 0 | (23) |
Ending balance | (13,684) | (14,837) | (15,083) | (12,772) | (11,777) | (11,612) |
Net Investment Hedges | ||||||
Accumulated Other Comprehensive Income Loss [Line Items] | ||||||
Beginning balance | 1,483 | 1,674 | 1,517 | 1,643 | 1,503 | 1,395 |
Other comprehensive income (loss) before reclassifications | (1) | (191) | 157 | (113) | 140 | 108 |
Amounts reclassified from accumulated other comprehensive income (loss) | 0 | 0 | 0 | 0 | 0 | 0 |
Ending balance | 1,482 | 1,483 | 1,674 | 1,530 | 1,643 | 1,503 |
Cash Flow Hedges | ||||||
Accumulated Other Comprehensive Income Loss [Line Items] | ||||||
Beginning balance | (505) | (818) | (539) | (429) | (271) | (140) |
Other comprehensive income (loss) before reclassifications | (13) | 303 | (295) | (12) | (172) | (145) |
Amounts reclassified from accumulated other comprehensive income (loss) | (13) | (10) | 16 | 0 | (14) | 14 |
Ending balance | (505) | (505) | (818) | (441) | (429) | (271) |
Minimum Pension Liability | ||||||
Accumulated Other Comprehensive Income Loss [Line Items] | ||||||
Beginning balance | (1,925) | (1,941) | (1,956) | (707) | (711) | (712) |
Other comprehensive income (loss) before reclassifications | (3) | (2) | (4) | 6 | (5) | (7) |
Amounts reclassified from accumulated other comprehensive income (loss) | (19) | (18) | 19 | (2) | (9) | 8 |
Ending balance | (1,909) | (1,925) | (1,941) | (699) | (707) | (711) |
Accumulated other comprehensive loss | ||||||
Accumulated Other Comprehensive Income Loss [Line Items] | ||||||
Beginning balance | (15,784) | (16,168) | (12,805) | (11,270) | (11,091) | (11,542) |
Other comprehensive income (loss) before reclassifications | 1,136 | 356 | (3,398) | (1,114) | (202) | 452 |
Amounts reclassified from accumulated other comprehensive income (loss) | (32) | (28) | 35 | (2) | (23) | (1) |
Ending balance | $ (14,616) | $ (15,784) | $ (16,168) | $ (12,382) | $ (11,270) | $ (11,091) |
Short-term Borrowings and Lon_3
Short-term Borrowings and Long-term Debt (Details) - Domestic Line of Credit - USD ($) $ in Millions | 1 Months Ended | ||
Apr. 30, 2020 | Oct. 31, 2020 | Jan. 31, 2020 | |
Debt Instrument [Line Items] | |||
Committed line of credit | $ 15,000 | $ 15,000 | |
Revolving Credit Facility | |||
Debt Instrument [Line Items] | |||
Debt instrument, term | 364 days | ||
Debt outstanding | $ 10,000 |
Short-term Borrowings and Lon_4
Short-term Borrowings and Long-term Debt (Schedule of Long-term Debt Instruments) (Details) $ in Millions | 9 Months Ended |
Oct. 31, 2020USD ($) | |
Long-term debt due within one year | |
Balances as of February 1, 2020 | $ 5,362 |
Repayments of long-term debt | (4,132) |
Reclassifications of long-term debt | 3,126 |
Other | 2 |
Balances as of October 31, 2020 | 4,358 |
Long-term debt | |
Balances as of February 1, 2020 | 43,714 |
Repayments of long-term debt | 0 |
Reclassifications of long-term debt | (3,126) |
Other | 261 |
Balances as of October 31, 2020 | 40,849 |
Total | |
Balances as of February 1, 2020 | 49,076 |
Repayments of long-term debt | 4,132 |
Reclassifications of long-term debt | 0 |
Other | 263 |
Balances as of October 31, 2020 | $ 45,207 |
Fair Value Measurement (Equity
Fair Value Measurement (Equity Investments) (Details) - USD ($) $ in Millions | Oct. 31, 2020 | Jan. 31, 2020 |
Equity Investments [Line Items] | ||
Equity investments | $ 12,769 | $ 5,438 |
Inputs, Level 1 | Recurring | ||
Equity Investments [Line Items] | ||
Equity investments | 5,987 | 2,715 |
Inputs, Level 2 | Recurring | ||
Equity Investments [Line Items] | ||
Equity investments | $ 6,782 | $ 2,723 |
Fair Value Measurements (Notion
Fair Value Measurements (Notional Amounts And Fair Values Of Interest Rate Swaps) (Details) - USD ($) $ in Millions | Oct. 31, 2020 | Jan. 31, 2020 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Notional Amount | $ 10,956 | $ 11,817 |
Fair Value | (99) | (144) |
Fair value hedging | Interest Rate Swap | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Notional Amount | 3,250 | 4,000 |
Net investment hedging | Cross-currency swaps | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Notional Amount | 3,500 | 3,750 |
Cash flow hedges | Cross-currency swaps | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Notional Amount | 4,206 | 4,067 |
Recurring | Fair value hedging | Interest Rate Swap | Inputs, Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | 177 | 97 |
Recurring | Net investment hedging | Cross-currency swaps | Inputs, Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | 446 | 455 |
Recurring | Cash flow hedges | Cross-currency swaps | Inputs, Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | $ (722) | $ (696) |
Fair Value Measurements (Carryi
Fair Value Measurements (Carrying Value And Fair Value Of Long-Term Debt) (Details) - USD ($) $ in Millions | Oct. 31, 2020 | Jan. 31, 2020 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term Debt | $ 45,207 | $ 49,076 |
Fair Value, Inputs, Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt Instrument, Fair Value Disclosure | $ 55,257 | $ 57,769 |
Divestitures (Details)
Divestitures (Details) ¥ in Millions, £ in Millions, $ in Millions | 3 Months Ended | 9 Months Ended | ||||||
Jan. 31, 2021USD ($) | Oct. 31, 2020USD ($) | Oct. 31, 2020USD ($) | Oct. 31, 2019USD ($) | Nov. 15, 2020USD ($) | Nov. 15, 2020JPY (¥) | Oct. 02, 2020USD ($) | Oct. 02, 2020GBP (£) | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||
Losses and (gains) on disposal of business operations | $ 1,028 | $ (1) | ||||||
Asda [Member] | ||||||||
Discontinued Operations and Disposal Groups [Abstract] | ||||||||
Enterprise Value | $ 9,100 | |||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||
Enterprise Value | $ 9,100 | |||||||
Walmart Argentina [Member] | ||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||
Losses and (gains) on disposal of business operations | $ 1,000 | $ 1,000 | ||||||
Seiyu [Member] | Subsequent Event [Member] | ||||||||
Discontinued Operations and Disposal Groups [Abstract] | ||||||||
Enterprise Value | $ 1,700 | |||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||
Enterprise Value | $ 1,700 | |||||||
Losses and (gains) on disposal of business operations | $ 2,000 | |||||||
United Kingdom, Pounds | Asda [Member] | ||||||||
Discontinued Operations and Disposal Groups [Abstract] | ||||||||
Enterprise Value | £ | £ 6,800 | |||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||
Enterprise Value | £ | £ 6,800 | |||||||
Japan, Yen | Seiyu [Member] | Subsequent Event [Member] | ||||||||
Discontinued Operations and Disposal Groups [Abstract] | ||||||||
Enterprise Value | ¥ | ¥ 172,500 | |||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||
Enterprise Value | ¥ | ¥ 172,500 |
Contingencies (Details)
Contingencies (Details) | Oct. 31, 2020 |
Asda Equal Value Lawsuit | |
Loss Contingencies [Line Items] | |
Number of pending claims | 40,000 |
Segments and Disaggregated Re_3
Segments and Disaggregated Revenue (Narrative) (Details) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2020USD ($) | Oct. 31, 2019USD ($) | Oct. 31, 2020USD ($)segment | Oct. 31, 2019USD ($) | |
Revenue from External Customer [Line Items] | ||||
Number of reportable segments | segment | 3 | |||
Net sales | $ 133,752 | $ 126,981 | $ 404,248 | $ 379,318 |
Walmart U.S. | ||||
Revenue from External Customer [Line Items] | ||||
Net sales | 88,353 | 83,189 | 270,378 | 248,733 |
Walmart International | ||||
Revenue from External Customer [Line Items] | ||||
Net sales | 29,554 | 29,167 | 86,487 | 87,081 |
Sam's Club | ||||
Revenue from External Customer [Line Items] | ||||
Net sales | 15,845 | 14,625 | 47,383 | 43,504 |
eCommerceMember | Walmart U.S. | ||||
Revenue from External Customer [Line Items] | ||||
Net sales | 10,300 | 5,700 | 29,100 | 15,800 |
eCommerceMember | Walmart International | ||||
Revenue from External Customer [Line Items] | ||||
Net sales | 4,300 | 2,900 | 10,500 | 7,900 |
eCommerceMember | Sam's Club | ||||
Revenue from External Customer [Line Items] | ||||
Net sales | $ 1,300 | $ 900 | $ 3,700 | $ 2,600 |
Segments and Disaggregated Re_4
Segments and Disaggregated Revenue - Net Sales (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2020 | Oct. 31, 2019 | |
Segment Reporting Information [Line Items] | ||||
Net sales | $ 133,752 | $ 126,981 | $ 404,248 | $ 379,318 |
Walmart U.S. | ||||
Segment Reporting Information [Line Items] | ||||
Net sales | 88,353 | 83,189 | 270,378 | 248,733 |
Walmart International | ||||
Segment Reporting Information [Line Items] | ||||
Net sales | 29,554 | 29,167 | 86,487 | 87,081 |
Sam's Club | ||||
Segment Reporting Information [Line Items] | ||||
Net sales | $ 15,845 | $ 14,625 | $ 47,383 | $ 43,504 |
Segments and Disaggregated Re_5
Segments and Disaggregated Revenue (Operating Income by Segment, Interest, Net, and Unrealized (Gains) and Losses) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2020 | Oct. 31, 2019 | |
Segment Reporting Information [Line Items] | ||||
Operating income | $ 5,778 | $ 4,718 | $ 17,061 | $ 15,246 |
Interest, net | 516 | 589 | 1,700 | 1,799 |
Other (gains) and losses | (1,853) | (244) | (5,796) | (996) |
Income before income taxes | 7,115 | 4,373 | 21,157 | 14,443 |
Walmart U.S. | ||||
Segment Reporting Information [Line Items] | ||||
Operating income | 4,589 | 4,176 | 13,948 | 12,977 |
Walmart International | ||||
Segment Reporting Information [Line Items] | ||||
Operating income | 1,078 | 634 | 2,696 | 2,265 |
Sam's Club | ||||
Segment Reporting Information [Line Items] | ||||
Operating income | 431 | 327 | 1,517 | 1,258 |
Corporate and support | ||||
Segment Reporting Information [Line Items] | ||||
Operating income | $ (320) | $ (419) | $ (1,100) | $ (1,254) |
Segments and Disaggregated Re_6
Segments and Disaggregated Revenue (Revenue, Walmart US) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2020 | Oct. 31, 2019 | |
Revenue from External Customer [Line Items] | ||||
Net sales | $ 133,752 | $ 126,981 | $ 404,248 | $ 379,318 |
Walmart U.S. | ||||
Revenue from External Customer [Line Items] | ||||
Net sales | 88,353 | 83,189 | 270,378 | 248,733 |
Walmart U.S. | Grocery | ||||
Revenue from External Customer [Line Items] | ||||
Net sales | 50,683 | 48,117 | 155,149 | 142,511 |
Walmart U.S. | General merchandise | ||||
Revenue from External Customer [Line Items] | ||||
Net sales | 26,927 | 24,964 | 84,075 | 76,602 |
Walmart U.S. | Health and wellness | ||||
Revenue from External Customer [Line Items] | ||||
Net sales | 9,806 | 9,225 | 28,560 | 27,113 |
Walmart U.S. | Other categories | ||||
Revenue from External Customer [Line Items] | ||||
Net sales | $ 937 | $ 883 | $ 2,594 | $ 2,507 |
Segments and Disaggregated Re_7
Segments and Disaggregated Revenue (Revenue, International) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2020 | Oct. 31, 2019 | |
Revenue from External Customer [Line Items] | ||||
Net sales | $ 133,752 | $ 126,981 | $ 404,248 | $ 379,318 |
Walmart International | ||||
Revenue from External Customer [Line Items] | ||||
Net sales | 29,554 | 29,167 | 86,487 | 87,081 |
Mexico and Central America | Walmart International | ||||
Revenue from External Customer [Line Items] | ||||
Net sales | 7,429 | 7,913 | 23,133 | 23,765 |
United Kingdom | Walmart International | ||||
Revenue from External Customer [Line Items] | ||||
Net sales | 7,249 | 6,961 | 21,079 | 21,355 |
Canada | Walmart International | ||||
Revenue from External Customer [Line Items] | ||||
Net sales | 4,969 | 4,608 | 14,383 | 13,366 |
China | Walmart International | ||||
Revenue from External Customer [Line Items] | ||||
Net sales | 2,787 | 2,718 | 8,735 | 8,209 |
Other | Walmart International | ||||
Revenue from External Customer [Line Items] | ||||
Net sales | $ 7,120 | $ 6,967 | $ 19,157 | $ 20,386 |
Segments and Disaggregated Re_8
Segments and Disaggregated Revenue (Revenue, Sam's Club) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2020 | Oct. 31, 2019 | |
Revenue from External Customer [Line Items] | ||||
Net sales | $ 133,752 | $ 126,981 | $ 404,248 | $ 379,318 |
Sam's Club | ||||
Revenue from External Customer [Line Items] | ||||
Net sales | 15,845 | 14,625 | 47,383 | 43,504 |
Sam's Club | Grocery and consumables | ||||
Revenue from External Customer [Line Items] | ||||
Net sales | 10,450 | 8,900 | 31,526 | 26,151 |
Sam's Club | Fuel, tobacco and other categories | ||||
Revenue from External Customer [Line Items] | ||||
Net sales | 1,942 | 2,646 | 6,023 | 8,127 |
Sam's Club | Home and apparel | ||||
Revenue from External Customer [Line Items] | ||||
Net sales | 1,693 | 1,532 | 4,926 | 4,725 |
Sam's Club | Health and wellness | ||||
Revenue from External Customer [Line Items] | ||||
Net sales | 1,017 | 858 | 2,849 | 2,527 |
Sam's Club | Technology, office and entertainment | ||||
Revenue from External Customer [Line Items] | ||||
Net sales | $ 743 | $ 689 | $ 2,059 | $ 1,974 |