Walmart (WMT) 10-K 30 Mar 10 2010 FY Annual report Financial data

Statement Of Income Alternative

Statement Of Income Alternative - Audited (USD $)
In Millions, except Per Share data	12 Months Ended Jan. 31, 2010		12 Months Ended Jan. 31, 2009		12 Months Ended Jan. 31, 2008
Revenues:
Net sales	$405,046		$401,087		$373,821
Membership and other income	3,168		3,287		3,202
Revenues, Total	408,214		404,374		377,023
Costs and expenses:
Cost of sales	304,657		304,056		284,137
Operating, selling, general and administrative expenses	79,607		77,520		70,934
Operating income	23,950		22,798		21,952
Interest:
Debt	1,787		1,896		1,863
Capital leases	278		288		240
Interest income	(181)		(284)		(309)
Interest, net	1,884		1,900		1,794
Income from continuing operations before income taxes	22,066		20,898		20,158
Provision for income taxes:
Current	7,643		6,564		6,897
Deferred	(504)		581		(8)
Income Tax Expense (Benefit), Total	7,139		7,145		6,889
Income from continuing operations	14,927		13,753		13,269
Income (loss) from discontinued operations, net of tax	(79)		146		(132)
Consolidated net income	14,848	[1]	13,899	[1]	13,137	[1]
Less consolidated net income attributable to noncontrolling interest	(513)	[1]	(499)	[1]	(406)	[1]
Consolidated net income attributable to Walmart	$14,335		$13,400		$12,731
Basic net income per common share:
Basic income per common share from continuing operations attributable to Walmart	3.73		3.36		3.16
Basic income (loss) per common share from discontinued operations attributable to Walmart	-0.02		0.04		-0.03
Basic net income per common share attributable to Walmart	3.71		3.4		3.13
Diluted net income per common share:
Diluted income per common share from continuing operations attributable to Walmart	3.72		3.35		3.16
Diluted income (loss) per common share from discontinued operations attributable to Walmart	-0.02		0.04		-0.03
Diluted net income per common share attributable to Walmart	3.7		3.39		3.13
Weighted-average number of common shares:
Basic	3,866		3,939		4,066
Diluted	3,877		3,951		4,072
Dividends declared per common share	1.09		0.95		0.88
[1]Includes $14 million in fiscal 2010 that is related to the redeemable noncontrolling interest.

Statement Of Financial Position

Statement Of Financial Position Classified - Audited (USD $)
In Millions	12 Months Ended Jan. 31, 2010	12 Months Ended Jan. 31, 2009
Current assets:
Cash and cash equivalents	$7,907	$7,275
Receivables, net	4,144	3,905
Inventories	33,160	34,511
Prepaid expenses and other	2,980	3,063
Current assets of discontinued operations	140	195
Total current assets	48,331	48,949
Property and equipment:
Land	22,591	19,852
Buildings and improvements	77,452	73,810
Fixtures and equipment	35,450	29,851
Transportation equipment	2,355	2,307
Property and equipment	137,848	125,820
Less accumulated depreciation	(38,304)	(32,964)
Property and equipment, net	99,544	92,856
Property under capital leases:
Property under capital leases	5,669	5,341
Less accumulated amortization	(2,906)	(2,544)
Property under capital leases, net	2,763	2,797
Goodwill	16,126	15,260
Other assets and deferred charges	3,942	3,567
Total assets	170,706	163,429
Current liabilities:
Short-term borrowings	523	1,506
Accounts payable	30,451	28,849
Accrued liabilities	18,734	18,112
Accrued income taxes	1,365	677
Long-term debt due within one year	4,050	5,848
Obligations under capital leases due within one year	346	315
Current liabilities of discontinued operations	92	83
Total current liabilities	55,561	55,390
Long-term debt	33,231	31,349
Long-term obligations under capital leases	3,170	3,200
Deferred income taxes and other	5,508	6,014
Redeemable noncontrolling interest	307	397
Commitments and contingencies
Equity:
Preferred stock ($0.10 par value; 100 shares authorized, none issued)	0	0
Common stock ($0.10 par value; 11,000 shares authorized, 3,786 and 3,925 issued and outstanding at January 31, 2010 and January 31, 2009, respectively)	378	393
Capital in excess of par value	3,803	3,920
Retained earnings	66,638	63,660
Accumulated other comprehensive loss	(70)	(2,688)
Total Walmart shareholders' equity	70,749	65,285
Noncontrolling interest	2,180	1,794
Total equity	72,929	67,079
Total liabilities and equity	$170,706	$163,429

1_Statement Of Financial Positi

Statement Of Financial Position Classified - Audited (Parenthetical) (USD $)
Share data in Millions, except Per Share data	Jan. 31, 2010	Jan. 31, 2009
Preferred stock, par value	0.1	0.1
Preferred stock, shares authorized	100	100
Preferred stock, issued	0	0
Common stock, par value	0.1	0.1
Common stock, shares authorized	11,000	11,000
Common stock, issued	3,786	3,925
Common stock, outstanding	3,786	3,925

Statement Of Shareholders Equit

Statement Of Shareholders Equity And Other Comprehensive Income (USD $)
In Millions	Common Stock	Capital in Excess of Par Value	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Total Walmart Shareholders' Equity	Noncontrolling Interest	Total
Beginning Balance at Jan. 31, 2007	$413	$2,834	$55,818	$2,508	$61,573	$2,160	$63,733
Beginning Balance (in shares) at Jan. 31, 2007	4,131
Consolidated net income			12,731		12,731	406	13,137	[1]
Other comprehensive income				1,356	1,356	8	1,364
Cash dividends ($1.09 in 2010, $0.95 in 2009 and $0.88 in 2008 per share)			(3,586)		(3,586)		(3,586)
Purchase of Company stock (in shares)	(166)
Purchase of Company stock	(17)	(190)	(7,484)		(7,691)		(7,691)
Other (in shares)	8
Other	1	384			385	(635)	(250)
Adoption of accounting for uncertainty in income taxes			(160)		(160)		(160)
Ending Balance (in shares) at Jan. 31, 2008	3,973
Ending Balance at Jan. 31, 2008	397	3,028	57,319	3,864	64,608	1,939	66,547
Consolidated net income			13,400		13,400	499	13,899	[1]
Other comprehensive income				(6,552)	(6,552)	(371)	(6,923)
Cash dividends ($1.09 in 2010, $0.95 in 2009 and $0.88 in 2008 per share)			(3,746)		(3,746)		(3,746)
Purchase of Company stock (in shares)	(61)
Purchase of Company stock	(6)	(95)	(3,315)		(3,416)		(3,416)
Other (in shares)	13
Other	2	987	2		991	(273)	718
Ending Balance (in shares) at Jan. 31, 2009	3,925
Ending Balance at Jan. 31, 2009	393	3,920	63,660	(2,688)	65,285	1,794	67,079
Consolidated net income (excludes redeemable noncontrolling interest)			14,335		14,335	499	14,834
Other comprehensive income				2,618	2,618	64	2,682
Cash dividends ($1.09 in 2010, $0.95 in 2009 and $0.88 in 2008 per share)			(4,217)		(4,217)		(4,217)
Purchase of Company stock (in shares)	(145)
Purchase of Company stock	(15)	(246)	(7,136)		(7,397)		(7,397)
Purchase of redeemable noncontrolling interest		(288)			(288)		(288)
Other (in shares)	6
Other		417	(4)		413	(177)	236
Ending Balance (in shares) at Jan. 31, 2010	3,786
Ending Balance at Jan. 31, 2010	$378	$3,803	$66,638	($70)	$70,749	$2,180	$72,929
[1]Includes $14 million in fiscal 2010 that is related to the redeemable noncontrolling interest.

2_Statement Of Shareholders Equ

Statement Of Shareholders Equity And Other Comprehensive Income (Parenthetical) (USD $)
	12 Months Ended Jan. 31, 2010	12 Months Ended Jan. 31, 2009	12 Months Ended Jan. 31, 2008
Cash dividends, per share	1.09	0.95	0.88

Statement Of Other Comprehensiv

Statement Of Other Comprehensive Income (USD $)
In Millions	12 Months Ended Jan. 31, 2010		12 Months Ended Jan. 31, 2009		12 Months Ended Jan. 31, 2008
Comprehensive Income:
Consolidated net income	$14,848	[1]	$13,899	[1]	$13,137	[1]
Other comprehensive income:
Currency translation	2,854	[2]	(6,860)	[2]	1,226	[2]
Net change in fair values of derivatives	94		(17)		0
Minimum pension liability	(220)		(46)		138
Total comprehensive income	17,576		6,976		14,501
Less amounts attributable to the noncontrolling interest:
Less consolidated net income attributable to noncontrolling interest	(513)	[1]	(499)	[1]	(406)	[1]
Currency translation	(110)	[2]	371	[2]	(8)	[2]
Amounts attributable to the noncontrolling interest	(623)		(128)		(414)
Comprehensive income attributable to Walmart	$16,953		$6,848		$14,087
[1]Includes $14 million in fiscal 2010 that is related to the redeemable noncontrolling interest.
[2]Includes $46 million in fiscal 2010 that is related to the redeemable noncontrolling interest.

3_Statement Of Other Comprehens

Statement Of Other Comprehensive Income (Parenthetical) (USD $)
In Millions	12 Months Ended Jan. 31, 2010	12 Months Ended Jan. 31, 2009	12 Months Ended Jan. 31, 2008
Consolidated net income, redeemable noncontrolling interest	$14	$0	$0
Foreign currency translation, redeemable noncontrolling interest	$46	$0	$0

Statement Of Cash Flows Indirec

Statement Of Cash Flows Indirect - Audited (USD $)
In Millions	12 Months Ended Jan. 31, 2010		12 Months Ended Jan. 31, 2009		12 Months Ended Jan. 31, 2008
Cash flows from operating activities:
Consolidated net income	$14,848	[1]	$13,899	[1]	$13,137	[1]
Loss (income) from discontinued operations, net of tax	79		(146)		132
Income from continuing operations	14,927		13,753		13,269
Adjustments to reconcile income from continuing operations to net cash provided by operating activities:
Depreciation and amortization	7,157		6,739		6,317
Deferred income taxes	(504)		581		(8)
Other operating activities	301		769		504
Changes in certain assets and liabilities, net of effects of acquisitions:
Increase in accounts receivable	(297)		(101)		(564)
Decrease (increase) in inventories	2,265		(220)		(775)
Increase (decrease) in accounts payable	1,052		(410)		865
Increase in accrued liabilities	1,348		2,036		1,034
Net cash provided by operating activities	26,249		23,147		20,642
Cash flows from investing activities:
Payments for property and equipment	(12,184)		(11,499)		(14,937)
Proceeds from disposal of property and equipment	1,002		714		957
Proceeds from (payments for) disposal of certain international operations, net	0		838		(257)
Investment in international operations, net of cash acquired	0		(1,576)		(1,338)
Other investing activities	(438)		781		(95)
Net cash used in investing activities	(11,620)		(10,742)		(15,670)
Cash flows from financing activities:
Increase (decrease) in short-term borrowings, net	(1,033)		(3,745)		2,376
Proceeds from issuance of long-term debt	5,546		6,566		11,167
Payment of long-term debt	(6,033)		(5,387)		(8,723)
Dividends paid	(4,217)		(3,746)		(3,586)
Purchase of Company stock	(7,276)		(3,521)		(7,691)
Purchase of redeemable noncontrolling interest	(436)		0		0
Payment of capital lease obligations	(346)		(352)		(343)
Other financing activities	(396)		267		(622)
Net cash used in financing activities	(14,191)		(9,918)		(7,422)
Effect of exchange rates on cash and cash equivalents	194		(781)		252
Net increase (decrease) in cash and cash equivalents	632		1,706		(2,198)
Cash and cash equivalents at beginning of year	7,275	[2],[3]	5,569	[2],[3]	7,767	[2]
Cash and cash equivalents at end of year	7,907	[3]	7,275	[2],[3]	5,569	[2],[3]
Supplemental disclosure of cash flow information
Income tax paid	7,389		6,596		6,299
Interest paid	2,141		1,787		1,622
Capital lease obligations incurred	$61		$284		$447
[1]Includes $14 million in fiscal 2010 that is related to the redeemable noncontrolling interest.
[2]Includes cash and cash equivalents of discontinued operations of $51 million at February 1, 2007.
[3]Includes cash and cash equivalents of discontinued operations of $77 million at January 31, 2008.

Summary of Significant Accounti

Summary of Significant Accounting Policies
	12 Months Ended Jan. 31, 2010
Summary of Significant Accounting Policies	Note 1. Summary of Significant Accounting Policies General Wal-Mart Stores, Inc. (Walmart, the company or we) operates retail stores in various formats around the world and is committed to saving people money so they can live better. We earn the trust of our customers every day by providing a broad assortment of quality merchandise and services at every day low prices (EDLP) while fostering a culture that rewards and embraces mutual respect, integrity and diversity. EDLP is our pricing philosophy under which we price items at a low price every day so our customers trust that our prices will not change under frequent promotional activity. Our fiscal year ends on January31. Consolidation The Consolidated Financial Statements include the accounts of Wal-Mart Stores, Inc. and its subsidiaries. Intercompany transactions have been eliminated in consolidation. Investments in which the company has a 20% to 50% voting interest and where the company exercises significant influence over the investee are accounted for using the equity method. These investments are immaterial to our company. The companys operations in Argentina, Brazil, Chile, China, Costa Rica, El Salvador, Guatemala, Honduras, India, Japan, Mexico, Nicaragua and the United Kingdom are consolidated using a December31 fiscal year-end, generally due to statutory reporting requirements. There were no significant intervening events in January 2010 which materially affected the financial statements. The companys operations in Canada and Puerto Rico are consolidated using a January31 fiscal year-end. The company consolidates the accounts of certain variable interest entities where it has been determined that Walmart is the primary beneficiary of those entities operations. The assets, liabilities and results of operations of these entities are not material to the company. Cash and Cash Equivalents The company considers investments with a maturity of three months or less when purchased to be cash equivalents. The majority of payments due from banks for third-party credit card, debit card and electronic benefit transactions (EBT) process within 24-48 hours, except for transactions occurring on a Friday, which are generally processed the following Monday. All credit card, debit card and EBT transactions that process in less than seven days are classified as cash and cash equivalents. The amounts due from banks for these transactions classified as cash totaled $2.6 billion and $2.0 billion at January31, 2010 and 2009, respectively. In addition, cash and cash equivalents includes restricted cash related to cash collateral holdings from various counterparties as required by certain derivative and trust agreements of $469 million and $577 million at January31, 2010 and 2009, respectively. Receivables Receivables consist primarily of amounts due from: insurance companies resulting from our pharmacy sales; banks for customer credit card, debit card and EBT transactions that take in excess of seven days to process; suppliers for marketing or incentive programs; consumer financing programs in certain international subsidiaries; and

Accrued Liabilities

Accrued Liabilities
	12 Months Ended Jan. 31, 2010
Accrued Liabilities	Note 2. Accrued Liabilities Accrued liabilities consist of the following: January31, (Amounts in millions) 2010 2009 Accrued wages and benefits $ 5,986 $ 5,577 Self-insurance 3,224 3,108 Other 9,524 9,427 Total accrued liabilities $ 18,734 $ 18,112 Self-Insurance The company uses a combination of insurance, self-insured retention and self-insurance for a number of risks, including, but not limited to, workers compensation, general liability, vehicle liability, property and the companys obligation for employee-related health care benefits. Liabilities associated with these risks are estimated by considering historical claims experience, demographic factors, frequency and severity factors and other actuarial assumptions. In estimating our liability for such claims, we periodically analyze our historical trends, including loss development, and apply appropriate loss development factors to the incurred costs associated with the claims.

Net Income Per Common Share

Net Income Per Common Share
	12 Months Ended Jan. 31, 2010
Net Income Per Common Share	Note 3. Net Income Per Common Share Basic net income per common share attributable to Walmart is based on the weighted-average number of outstanding common shares. Diluted net income per common share attributable to Walmart is based on the weighted-average number of outstanding common shares adjusted for the dilutive effect of stock options and other share-based awards. The dilutive effect of stock options and other share-based awards was 11million, 12million and 6million shares in fiscal 2010, 2009 and 2008, respectively. The company had approximately 5million, 6million and 62million option shares outstanding at January31, 2010, 2009 and 2008, respectively, which were not included in the diluted net income per share calculation because their effect would be antidilutive. For purposes of determining consolidated net income per common share attributable to Walmart, income from continuing operations attributable to Walmart and the (loss) gain from discontinued operations, net of tax, are as follows: Fiscal Year Ended January31, (Amounts in millions) 2010 2009 2008 Income from continuing operations $ 14,927 $ 13,753 $ 13,269 Less consolidated net income attributable to noncontrolling interest (513 ) (499 ) (406 ) Income from continuing operations attributable to Walmart 14,414 13,254 12,863 Income (loss) from discontinued operations, net of tax (79 ) 146 (132 ) Consolidated net income attributable to Walmart $ 14,335 $ 13,400 $ 12,731

Short-term Borrowings and Long-

Short-term Borrowings and Long-term Debt
	12 Months Ended Jan. 31, 2010
Short-term Borrowings and Long-term Debt	Note 4. Short-term Borrowings and Long-term Debt Information on short-term borrowings and interest rates is as follows: FiscalYearEndedJanuary31, (Dollar amounts in millions) 2010 2009 2008 Maximum amount outstanding at any month-end $ 4,536 $ 7,866 $ 9,176 Average daily short-term borrowings 1,596 4,520 5,657 Weighted-average interest rate 0.5 % 2.1 % 4.9 % Short-term borrowings consist of commercial paper and lines of credit. Short term borrowings outstanding at January31, 2010 and 2009 were $523 million and $1.5 billion, respectively. The company has certain lines of credit totaling $9.0 billion, most of which were undrawn as of January31, 2010. Of the $9.0 billion in lines of credit, $8.6 billion is committed with 34 financial institutions. In conjunction with these lines of credit, the company has agreed to observe certain covenants, the most restrictive of which relates to maximum amounts of secured debt and long-term leases. Committed lines of credit are primarily used to support commercial paper. The portion of committed lines of credit used to support commercial paper remained undrawn as of January31, 2010. The committed lines of credit mature at various times starting between June 2010 and June 2012, carry interest rates in some cases equal to the companys one-year credit default swap mid-rate spread and in other cases LIBOR plus 15 basis points and incur commitment fees of 4.0 to 10.0 basis points on undrawn amounts. The company had trade letters of credit outstanding totaling $2.4 billion at January31, 2010 and 2009. At January31, 2010 and 2009, the company had standby letters of credit outstanding totaling $2.4 billion and $2.0 billion, respectively. These letters of credit were issued primarily for the purchase of inventory and self-insurance purposes. Long-term debt consists of: (Dollar amounts in millions) January31, Interest Rate Maturity Date by Fiscal Year 2010 2009 1.200 10.96% Notes due 2010 $ $ 5,656 5.250% Notes due 2036 4,098 3,954 0.184 10.880% Notes due 2011(1) 3,972 2,952 5.625% Notes due 2035 1,598 6.500% Notes due 2038 3,000 3,000 0.750 15.27% Notes due 2014 3,919 4,822 1.200 4.125% Notes due 2012 4,481 5,353 5.750 7.550% Notes due 2031 1,799 1,727 4.875 6.200% Notes due 2039 3,598 2,954 2.950 6.500% Notes due 2019(1) 1,769 1,305 3.750 5.375% Notes due 2018 1,032 1,006 3.150 6.630% Notes due 2016 766 940 5.875% Notes due 2028 777 772 1.600 5.000% Notes due 2013 1,363 561 6.750% Notes due 2024 262 263 2.300 3.000% Notes due 2015 2,704 575 2.000 2.500% Notes due 2017 27 32 4.125% Notes due 2020 6 507 4.200 5.500% Notes due 2021 6 7 4.200 5.500% Notes due 2022 6 8 4.200 5.500% Notes due 2023 8 10 4.200 5.500% Notes due 2025 16 17

Fair Value Measurements

Fair Value Measurements
	12 Months Ended Jan. 31, 2010
Fair Value Measurements	Note 5. Fair Value Measurements The company records and discloses certain financial and non-financial assets and liabilities at their fair value. The fair value of an asset is the price at which the asset could be sold in an orderly transaction between unrelated, knowledgeable and willing parties able to engage in the transaction. A liabilitys fair value is defined as the amount that would be paid to transfer the liability to a new obligor in a transaction between such parties, not the amount that would be paid to settle the liability with the creditor. Assets and liabilities recorded at fair value are measured using a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. These tiers include: Level 1, defined as observable inputs such as quoted prices in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring the company to develop our own assumptions. The disclosure of fair value of certain financial assets and liabilities that are recorded at cost are as follows: Cash and cash equivalents: The carrying amount approximates fair value due to the short maturity of these instruments. Long-term debt: The fair value is based on the companys current incremental borrowing rate for similar types of borrowing arrangements or, where applicable, quoted market prices. The cost and fair value of our debt as of January31, 2010 and 2009 is as follows: January31, 2010 January31, 2009 (Amounts in millions) Cost FairValue Cost FairValue Long-term debt $ 37,281 $ 39,055 $ 37,197 $ 37,862 Additionally, as of January31, 2010 and 2009, the company held certain derivative asset and liability positions that are required to be measured at fair value on a recurring basis. The majority of the Companys derivative instruments relate to interest rate swaps. The fair values of these interest rate swaps have been measured in accordance with Level 2 inputs of the fair value hierarchy. As of January31, 2010 and 2009, the notional amounts and fair values of these interest rate swaps are as follows (asset/(liability)): (Amounts in millions) January31, 2010 January31, 2009 Derivative financial instruments designated for hedging: NotionalAmount FairValue NotionalAmount FairValue Receive fixed-rate, pay floating rate interest rate swaps designated as fair value hedges $ 4,445 $ 260 $ 5,195 $ 321 Receive fixed-rate, pay fixed-rate cross-currency interest rate swaps designated as net investment hedges (Cross-currency notional amount: GBP 795 at January31, 2010 and 2009) 1,250 189 1,250 526 Receive floating-rate, pay fixed-rate interest rate swaps designated as cash flow hedges 638 (20 ) 462 (17 ) Receive fixed-rate, pay fixed-rate cross-currency interest rate swaps designated as cash flow hedges 2,902 286

Derivative Financial Instrument

Derivative Financial Instruments
	12 Months Ended Jan. 31, 2010
Derivative Financial Instruments	Note 6. Derivative Financial Instruments The company uses derivative financial instruments for hedging and non-trading purposes to manage its exposure to changes in interest and currency exchange rates, as well as to maintain an appropriate mix of fixed- and floating-rate debt. Use of derivative financial instruments in hedging programs subjects the company to certain risks, such as market and credit risks. Market risk represents the possibility that the value of the derivative instrument will change. In a hedging relationship, the change in the value of the derivative is offset to a great extent by the change in the value of the underlying hedged item. Credit risk related to derivatives represents the possibility that the counterparty will not fulfill the terms of the contract. The notional, or contractual, amount of the companys derivative financial instruments is used to measure interest to be paid or received and does not represent the companys exposure due to credit risk. Credit risk is monitored through established approval procedures, including setting concentration limits by counterparty, reviewing credit ratings and requiring collateral (generally cash) from the counterparty when appropriate. The companys transactions are with counterparties rated A+ or better by nationally recognized credit rating agencies. In connection with various derivative agreements with counterparties, the company held cash collateral from these counterparties of $323 million and $440 million at January31, 2010 and 2009, respectively. It is our policy to record cash collateral exclusive of any derivative asset, and any collateral holdings are reflected in our accrued liabilities as amounts due to the counterparties. Furthermore, as part of the master netting arrangements with these counterparties, the company is also required to post collateral if the derivative liability position exceeds $150 million. The company has no outstanding collateral postings and in the event of providing cash collateral, the company would record the posting as a receivable exclusive of any derivative liability. When the company uses derivative financial instruments for purposes of hedging its exposure to interest and currency exchange rates, the contract terms of a hedge instrument closely mirror those of the hedged item, providing a high degree of risk reduction and correlation. Contracts that are effective at meeting the risk reduction and correlation criteria are recorded using hedge accounting. If a derivative instrument is a hedge, depending on the nature of the hedge, changes in the fair value of the instrument will either be offset against the change in fair value of the hedged assets, liabilities or firm commitments through earnings or be recognized in accumulated other comprehensive loss until the hedged item is recognized in earnings. The ineffective portion of an instruments change in fair value will be immediately recognized in earnings. Instruments that do not meet the criteria for hedge accounting, or contracts for which the company has not elected hedge accounting, are valued at fair value with unrealized gains or losses reported in earnings during the period

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income
	12 Months Ended Jan. 31, 2010
Accumulated Other Comprehensive Income	Note 7. Accumulated Other Comprehensive Income Amounts included in accumulated other comprehensive income (loss) for the companys derivative instruments and minimum pension liabilities are recorded net of the related income tax effects. The following table provides further detail regarding changes in the composition of accumulated other comprehensive income (loss) for the fiscal years ended January31, 2010, 2009 and 2008: (Amounts in millions) Currency Translation Derivative Instruments Minimum PensionLiability Total Balances at February1, 2007 $ 2,875 $ $ (367 ) $ 2,508 Currency translation adjustment 1,218 1,218 Subsidiary minimum pension liability 138 138 Balances at February1, 2008 $ 4,093 $ $ (229 ) $ 3,864 Currency translation adjustment (6,489 ) (6,489 ) Net change in fair value of derivatives (17 ) (17 ) Subsidiary minimum pension liability (46 ) (46 ) Balances at February1, 2009 $ (2,396 ) $ (17 ) $ (275 ) $ (2,688 ) Currency translation adjustment 2,744 2,744 Net change in fair value of derivatives 94 94 Subsidiary minimum pension liability (220 ) (220 ) Balances at January31, 2010 $ 348 $ 77 $ (495 ) $ (70 ) The currency translation adjustment includes a net translation loss of $545 million, a gain of $1.2 billion and a loss of $9 million at January31, 2010, 2009 and 2008, respectively, related to net investment hedges of our operations in the United Kingdom and Japan. For fiscal 2010, we reclassified $83 million from accumulated other comprehensive loss to earnings to offset currency translation losses on the re-measurement of non-U.S. denominated debt.

Income Taxes

Income Taxes
	12 Months Ended Jan. 31, 2010
Income Taxes	Note 8. Income Taxes A summary of the provision for income taxes is as follows: FiscalYearEndedJanuary31, (Amounts in millions) 2010 2009 2008 Current: U.S. federal $ 5,798 $ 4,771 $ 5,145 U.S. state and local 599 564 524 International 1,246 1,229 1,228 Total current tax provision 7,643 6,564 6,897 Deferred: U.S. federal (449 ) 614 12 U.S. state and local 78 41 6 International (133 ) (74 ) (26 ) Total deferred tax provision (504 ) 581 (8 ) Total provision for income taxes $ 7,139 $ 7,145 $ 6,889 Income from Continuing Operations The components of income from continuing operations before income taxes is as follows: Fiscal Year Ended January31, (Amounts in millions) 2010 2009 2008 U.S. $ 17,652 $ 16,239 $ 15,820 International 4,414 4,659 4,338 Total income from continuing operations before income taxes $ 22,066 $ 20,898 $ 20,158 Deferred Taxes The significant components of our deferred tax account balances are as follows: January31, (Amounts in millions) 2010 2009 Deferred tax assets: Loss and tax credit carryforwards $ 2,713 $ 1,603 Accrued liabilities 3,141 2,548 Equity compensation 267 206 Other 751 437 Total deferred tax assets 6,872 4,794 Valuation allowance (2,167 ) (1,852 ) Deferred tax assets, net of valuation allowance 4,705 2,942 Deferred tax liabilities: Property and equipment 4,015 3,257 Inventories 1,120 1,079 Other 609 211 Total deferred tax liabilities 5,744 4,547 Net deferred tax liabilities $ 1,039 $ 1,605 The deferred taxes noted above are classified as follows in the accompanying Consolidated Balance Sheets: January31, (Amounts in millions) 2010 2009 Balance Sheet Classification: Assets: Prepaid expenses and other $ 1,386 $ 1,293 Other assets and deferred charges 331 202 Asset subtotals 1,717 1,495 Liabilities: Accrued liabilities 34 24 Deferred income taxes and other 2,722 3,076 Liability subtotals 2,756 3,100 Net deferred tax liabilities $ 1,039 $ 1,605 Effective Tax Rate Reconciliation A reconciliation of the significant differences between the effective income tax rate and the federal statutory rate on pretax income is as follows: FiscalYearEndedJanuary31, 2010 2009 2008

Acquisitions, Investments and D

Acquisitions, Investments and Disposals
	12 Months Ended Jan. 31, 2010
Acquisitions, Investments and Disposals	Note 9. Acquisitions, Investments and Disposals Acquisitions and Investments In February 2007, the company announced the purchase of a 35% interest in Bounteous Company Limited (BCL). BCL operated 101 hypermarkets in 34 cities in China under the Trust-Mart banner. The purchase price for the 35% interest was $264 million. As additional consideration, the company paid $376 million to extinguish a third party loan issued to the selling BCL shareholders that is secured by the pledge of the remaining equity of BCL. Concurrent with its initial investment in BCL, the company entered into a stockholders agreement which provides the company with voting rights associated with a portion of the common stock of BCL securing the loan, amounting to an additional 30% of the aggregate outstanding shares. Pursuant to the purchase agreement, which was recently amended, the company is committed to purchase the remaining interest in BCL on or before November26, 2010, subject to certain conditions. Under the terms of the original share purchase agreement, the final purchase price for the remaining interest will be approximately $320 million, net of loan repayments and subject to reduction under certain circumstances. After closing the acquisition, the company began consolidating BCL using a December31 fiscal year-end. The companys Consolidated Statements of Income for fiscal 2008 include the results of BCL for the period commencing upon the acquisition of the companys interest in BCL and ending December31, 2007. BCLs results of operations were not material to the company in fiscal 2008. Assets recorded in the acquisition were approximately $1.6 billion, including approximately $1.1 billion in goodwill, and liabilities assumed were approximately $1.0 billion. In August 2007,Walmart and Bharti Enterprises, an Indian company, established a joint venture called Bharti Walmart Private Limited to conduct wholesale cash-and-carry and back-end supply chain management operations in India in compliance with Government of India guidelines. The first wholesale facility opened in fiscal 2010. The joint venture supplies merchandise to Bharti Retail,an affiliate of Bharti Enterprises that is developing a chain of retail stores in India.Bharti Retail has entered into a franchise agreement with an Indian subsidiary of Walmart under which such subsidiary provides technical support to Bharti Retails retail business. In January 2009, the company completed a tender offer for the shares of DS, acquiring approximately 58.2% of the outstanding DS shares. As of the acquisition date, DS had 197 stores, 10 shopping centers and 85 PRESTO financial services branches throughout Chile. The purchase price for the DS shares in the offer was approximately $1.55 billion. As of January31, 2009, the preliminary allocation of the purchase price resulted in recording approximately $3.6 billion in assets, including approximately $1.0 billion in goodwill and liabilities assumed of approximately $1.7 billion. The noncontrolling interest was approximately $395 million, all of which was redeemable. The final purchase price allocation had an insignificant impact to the preliminary assets and liab

Share-Based Compensation Plans

Share-Based Compensation Plans
	12 Months Ended Jan. 31, 2010
Share-Based Compensation Plans	Note 10. Share-Based Compensation Plans As of January31, 2010, the company has awarded share-based compensation to executives and other associates of the company through various share-based compensation plans. The compensation cost recognized for all plans was $335 million, $302 million and $276 million for fiscal 2010, 2009 and 2008, respectively, and is included in operating, selling, general and administrative expenses in the accompanying Consolidated Statements of Income. The total income tax benefit recognized for all share-based compensation plans was $126 million, $112 million and $102 million for fiscal 2010, 2009 and 2008, respectively. The companys Stock Incentive Plan of 2005 (the Plan), which is shareholder-approved, was established to grant stock options, restricted (non-vested) stock, performance shares and other equity compensation awards to its associates for which 210million shares of common stock to be issued under the Plan have been registered under the Securities Act of 1933, as amended. The company believes that such awards serve to align the interests of its associates with those of its shareholders. Under the Plan and prior plans, substantially all stock option awards have been granted with an exercise price equal to the market price of the companys stock at the date of grant. Generally, outstanding options granted before fiscal 2001 vest over seven years. Options granted after fiscal 2001 generally vest over five years. Options granted generally have a contractual term of 10 years. The companys United Kingdom subsidiary, ASDA, also offers two other stock option plans to its colleagues. The first plan, The ASDA Colleague Share Ownership Plan 1999 (the CSOP), grants options to certain colleagues. The initial CSOP grants have both a three year and a six year vesting with subsequent grants vesting over six years. The CSOP shares have an exercise period of two months immediately following the vesting date. The second plan, The ASDA Sharesave Plan 2000 (the Sharesave Plan), grants options to certain colleagues at 80% of the average market value of the three days preceding the date of grant. Sharesave options become exercisable after three years and generally expire six months after becoming exercisable. A combined 34million shares of common stock were registered under the Securities Act of 1933, as amended, for issuance upon the exercise of stock options granted under the CSOP and the Sharesave Plan. Stock Options The fair value of each stock option award is estimated on the date of grant using the Black-Scholes-Merton option valuation model that uses various assumptions for inputs, which are noted in the following table. Generally, the company uses expected volatilities and risk-free interest rates that correlate with the expected term of the option when estimating an options fair value. To determine the expected life of the option, the company bases its estimates on historical exercise and expiration activity of grants with similar vesting periods. Expected volatility is based on historical volatility of our stock. The expected risk-free interest rate is based on the U.S. Treasury yield curve at the time of

Legal Proceedings

Legal Proceedings
	12 Months Ended Jan. 31, 2010
Legal Proceedings	Note 11. 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 companys Consolidated Financial Statements. For some matters, the amount of liability is not probable or the amount cannot be reasonably estimated and therefore accruals have not been made. However, where a liability is reasonably possible and 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 companys shareholders. The matters, or groups of related matters, discussed below, if decided adversely to or settled by the company, individually or in the aggregate, may result in liability material to the companys financial condition or results of operations. Wage-and-Hour Class Actions: The company is a defendant in various cases containing class-action allegations in which the plaintiffs are current and former hourly associates who allege that the company committed wage-and-hour violations by failing to provide rest breaks, meal periods, or other benefits, or otherwise by failing to pay them correctly. The complaints generally seek unspecified monetary damages, injunctive relief, or both. The company cannot reasonably estimate the possible loss or range of loss that may arise from these lawsuits, except where the lawsuit has been settled or otherwise as noted below. In one of the wage-and-hour lawsuits, Braun/Hummel v. Wal-Mart Stores, Inc., a trial was commenced in September 2006, in Philadelphia, Pennsylvania. The plaintiffs allege that the company failed to pay class members for all hours worked and prevented class members from taking their full meal and rest breaks. On October13, 2006, the jury awarded back-pay damages to the plaintiffs of approximately $78 million on their claims for off-the-clock work and missed rest breaks. The jury found in favor of the company on the plaintiffs meal-period claims. On November14, 2007, the trial judge entered a final judgment in the approximate amount of $188 million, which included the jurys back-pay award plus statutory penalties, prejudgment interest and attorneys fees. The company believes it has substantial factual and legal defenses to the claims at issue, and on December7, 2007, the company filed its Notice of Appeal. Exempt Status Cases: The company is a defendant in several cases in which the plaintiffs seek class or collective certification of various groups of salaried managers, and challenge their exempt status under state and federal laws. In one of those cases (Sepulveda v. Wal-Mart Stores, Inc.),class certification was denied by the trial court on May5, 2006. On April25, 2008, a three-judge panel of the United States Court of Appeals for the Ninth Circuit affirmed the trial courts ruling in part and reversed it in part, and remanded the case for further proceedings. On May16, 2008, the company filed a petition seeking review of that ruling by a larger panel of the court. On October10, 2008, the court entered an Order staying al

Commitments

Commitments
	12 Months Ended Jan. 31, 2010
Commitments	Note 12. Commitments The company and certain of its subsidiaries have long-term leases for stores and equipment. Rentals (including amounts applicable to taxes, insurance, maintenance, other operating expenses and contingent rentals) under operating leases and other short-term rental arrangements were $1.8 billion in each of fiscal 2010 and 2009, and $1.6 billion in 2008. Aggregate minimum annual rentals at January31, 2010, under non-cancelable leases are as follows: (Amounts in millions) Fiscal Year Operating Leases Capital Leases 2011 $ 1,275 $ 607 2012 1,212 568 2013 1,106 535 2014 1,043 504 2015 986 455 Thereafter 7,477 2,915 Total minimum rentals $ 13,099 $ 5,584 Less estimated executory costs 50 Net minimum lease payments 5,534 Less imputed interest at rates ranging from 3.0% to 12.6% 2,018 Present value of minimum lease payments $ 3,516 Certain of the companys leases provide for the payment of contingent rentals based on a percentage of sales. Such contingent rentals were immaterial for fiscal years 2010, 2009 and 2008. Substantially all of the companys store leases have renewal options, some of which may trigger an escalation in rentals. In connection with certain debt financing, we could be liable for early termination payments if certain unlikely events were to occur. At January31, 2010, the aggregate termination payment would have been $109 million. The two arrangements pursuant to which these payments could be made expire in fiscal 2011 and fiscal 2019. In connection with the development of our grocery distribution network in the United States, we have agreements with third parties which would require us to purchase or assume the leases on certain unique equipment in the event the agreements are terminated. These agreements, which can be terminated by either party at will, cover up to a five-year period and obligate the company to pay up to approximately $41 million upon termination of some or all of these agreements. The company has potential future lease commitments for land and buildings for approximately 348 future locations. These lease commitments have lease terms ranging from 1 to 40 years and provide for certain minimum rentals. If executed, payments under operating leases would increase by $59 million for fiscal 2011, based on current cost estimates.

Retirement-Related Benefits

Retirement-Related Benefits
	12 Months Ended Jan. 31, 2010
Retirement-Related Benefits	Note 13. Retirement-Related Benefits The company maintains separate Profit Sharing and 401(k) Plans for associates in the United States and Puerto Rico, under which associates generally become participants following one year of employment. The Profit Sharing component of the plan is entirely funded by the company, and the company makes an additional contribution to the associates 401(k) component of the plan. In addition to the companys contributions, associates may elect to contribute a percentage of their earnings to the 401(k) component of the plan. During fiscal 2010, participants could contribute up to 50% of their pretax earnings, but not more than statutory limits. Annual contributions made by the company to the United States and Puerto Rico Profit Sharing and 401(k) Plans are made at the sole discretion of the company. Contribution expense associated with these plans was $1.1 billion, $1.0 billion and $945 million in fiscal 2010, 2009 and 2008, respectively. Employees in international countries who are not U.S. citizens are covered by various post-employment benefit arrangements. These plans are administered based upon the legislative and tax requirements in the countries in which they are established. Annual contributions to international retirement savings and profit sharing plans are made at the discretion of the company, and were $218 million, $210 million and $267 million in fiscal 2010, 2009 and 2008, respectively. The companys subsidiaries in the United Kingdom and Japan have defined benefit pension plans. The plan in the United Kingdom was underfunded by $339 million and $34 million at January31, 2010 and 2009, respectively. The plan in Japan was underfunded by $249 million and $289 million at January31, 2010 and 2009, respectively. These underfunded amounts have been recorded in deferred income taxes and other in our Consolidated Balance Sheets at January31, 2010 and 2009. Certain other international operations have defined benefit arrangements that are not significant.

Segments

Segments
	12 Months Ended Jan. 31, 2010
Segments	Note 14. Segments The company is engaged in the operations of retail stores located in all 50 states of the United States, our wholly-owned subsidiaries in Argentina, Brazil, Canada, Japan, Puerto Rico and the United Kingdom, our majority-owned subsidiaries in Central America, Chile and Mexico and our joint ventures in China and India and our other controlled subsidiaries in China. The company defines our segments as those business units whose operating results our chief operating decision maker (CODM) regularly reviews to analyze performance and allocate resources. We sell similar individual products and services in each of our segments. It is impractical to segregate and identify revenue and profits for each of these individual products and services. The Walmart U.S. segment includes the companys mass merchant concept in the United States operating under the Walmart or Wal-Mart brand, as well as walmart.com. The International segment consists of the companys operations outside of the 50 United States. The Sams Club segment includes the warehouse membership clubs in the United States, as well as samsclub.com. The amounts under the caption Other in the table below relating to operating income are unallocated corporate overhead items. The company measures the results of its segments using, among other measures, each segments operating income which includes certain corporate overhead allocations. From time to time, we revise the measurement of each segments operating income, including any corporate overhead allocations, as dictated by the information regularly reviewed by our CODM. When we do so, the segment operating income for each segment affected by the revisions is restated for all periods presented to maintain comparability. Information for our segments and the reconciliation to consolidated income from continuing operations before income taxes appear in the following table: (Amounts in millions) Fiscal Year Ended January31, 2010 WalmartU.S. International SamsClub Other Consolidated Net revenues from external customers $ 258,229 $ 100,107 $ 46,710 $ $ 405,046 Operating income (loss) 19,522 5,033 1,512 (2,117 ) 23,950 Interest expense, net (1,884 ) Income from continuing operations before income taxes $ 22,066 Total assets of continuing operations $ 84,480 $ 67,558 $ 12,073 $ 6,455 $ 170,566 Depreciation and amortization $ 4,206 $ 2,003 $ 541 $ 407 $ 7,157 Fiscal Year Ended January31, 2009 Walmart U.S. International SamsClub Other Consolidated Net revenues from external customers $ 255,348 $ 98,840 $ 46,899 $ $ 401,087 Operating income (loss) 18,562 4,940 1,646 (2,350 ) 22,798 Interest expense, net (1,900 ) Income from continuing operations before income taxes $ 20,898 Total assets of continuing o

Restructuring Charges

Restructuring Charges
	12 Months Ended Jan. 31, 2010
Restructuring Charges	Note 15. Restructuring Charges In the fourth quarter of fiscal 2010, the company announced several organizational changes, including the closure of 10 Sams Clubs, designed to strengthen and streamline our operations. As a result, we recorded $260 million in pre-tax restructuring charges as follows: Fiscal Year Ended January31, 2010 (Amounts in millions) Asset Impairment Severance Total Walmart U.S. $ $ 73 $ 73 Sams Club 133 41 174 Other 13 13 Total $ 133 $ 127 $ 260 The asset impairment charges generally relate to the real estate of the Sams Club closures, which were written down to their estimated fair value of $46 million. The fair value was determined based on comparable market values of similar properties or on a rental income approach, using Level 2 inputs of the three-tier fair value hierarchy. The total pre-tax restructuring charge of $260 million is classified in operating, selling, general and administrative expenses on the accompanying Consolidated Statements of Income. At January31, 2010, we had $127 million of severance included in accrued liabilities on the accompanying Consolidated Balance Sheets, the majority of which is expected to be paid by the first quarter of fiscal 2011.

Recent Accounting Pronouncement

Recent Accounting Pronouncements
	12 Months Ended Jan. 31, 2010
Recent Accounting Pronouncements	Note 16. Recent Accounting Pronouncements The company adopts new accounting policies or adjust existing accounting policies to comply with new accounting standards promulgated by the Financial Accounting Standards Board (FASB) or the SEC. The following subcaptions provide a discussion of the companys adoption of new accounting policies as required by new accounting standards that became effective February1, 2009 or will become effective in future periods. Accounting for Acquisitions The company accounts for all consolidated acquisitions and business combinations using the purchase method of accounting. As a result of new accounting standards effective February1, 2009, the company changed some of its accounting for business combinations on February1, 2009. Therefore, certain accounting policies differ when accounting for acquisitions occurring before and after February1, 2009, as discussed below. The company applied the following policies in accounting for business combinations that occurred prior to February1, 2009: acquisition costs were included as part of the purchase price; purchase accounting was applied to only the companys proportionate share in the fair value of assets and liabilities acquired in a partial acquisition (less than 100% control was acquired); goodwill was recorded only to the extent of the companys proportionate share in a partial acquired entity; contingent consideration, if any, is recorded as additional purchase price when settled; adjustments to income tax valuation allowances or uncertain tax positions are recognized as adjustments to the accounting for the business combination; and contingent liabilities acquired were recorded at acquisition if probable and reasonably estimable. Subsequent to February1, 2009, the company applies the following policies in accounting for business combinations, when applicable: costs related to an acquisition are expensed as incurred; regardless of the level of ownership acquired, the company records the full fair value of all assets and liabilities acquired as part of the purchase price allocation; goodwill includes any noncontrolling interest portion and is recorded as the excess of the cost of the acquisition over the total fair value of all assets and liabilities acquired and any noncontrolling interest; contingent consideration, if any, is included at fair value as part of initial purchase price; adjustments to income tax valuation allowances or uncertain tax positions after the acquisition date are generally recognized as income tax expense; and contingent liabilities acquired are recorded at fair value. If fair value is not determinable, a reasonably estimable amount is recorded, provided the incurrence of the liability is probable. No acquisitions have occurred subsequent to February1, 2009. However, if any adjustments to income tax valuation allowances and uncertain tax positions that relate to acquisitions prior to February1, 2009 occur within a one year period from the acquisition date due to revised facts and circumst

Quarterly Financial Data

Quarterly Financial Data (Unaudited)
	12 Months Ended Jan. 31, 2010
Quarterly Financial Data (Unaudited)	Note 17. Quarterly Financial Data (Unaudited) Quarters Ended (Amounts in millions except per share data) April30, July31, October31, January31, Fiscal 2010 Net sales $ 93,471 $ 100,082 $ 98,667 $ 112,826 Cost of sales 70,388 75,153 73,805 85,311 Gross profit 23,083 24,929 24,862 27,515 Income from continuing operations 3,147 3,556 3,360 4,864 Loss from discontinued operations, net of tax (8 ) (7 ) (7 ) (57 ) Consolidated net income $ 3,139 $ 3,549 $ 3,353 $ 4,807 Less consolidated net income attributable to noncontrolling interest (117 ) (107 ) (114 ) (175 ) Consolidated net income attributable to Walmart $ 3,022 $ 3,442 $ 3,239 $ 4,632 Income from continuing operations attributable to Walmart: Income from continuing operations $ 3,147 $ 3,556 $ 3,360 $ 4,864 Less consolidated net income attributable to noncontrolling interest (117 ) (107 ) (114 ) (175 ) Income from continuing operations attributable to Walmart $ 3,030 $ 3,449 $ 3,246 $ 4,689 Loss from discontinued operations, net of tax (8 ) (7 ) (7 ) (57 ) Consolidated net income attributable to Walmart $ 3,022 $ 3,442 $ 3,239 $ 4,632 Basic net income per common share: Basic income per common share from continuing operations attributable to Walmart $ 0.77 $ 0.89 $ 0.84 $ 1.23 Basic loss per common share from discontinued operations attributable to Walmart (0.01 ) (0.01 ) Basic net income per common share attributable to Walmart $ 0.77 $ 0.88 $ 0.84 $ 1.22 Diluted net income per common share: Diluted income per common share from continuing operations attributable to Walmart $ 0.77 $ 0.88 $ 0.84 $ 1.23 Diluted loss per common share from discontinued operations attributable to Walmart (0.02 ) Diluted net income per common share attributable to Walmart $ 0.77 $ 0.88 $ 0.84 $ 1.21 Fiscal 2009 Net sales $ 94,042 $ 101,546 $ 97,619 $ 107,880 Cost of sales 71,372 77,118 73,621 81,945 Gross profit 22,670 24,428 23,998 25,935 Income from continuing operations 3,151 3,531 3,146 3,926 Income (loss) from discontinued operations, net of tax (7 ) 48 105

Document Information

Document Information
	12 Months Ended Jan. 31, 2010
Document Type	10-K
Amendment Flag	false
Document Period End Date	2010-01-31

Entity Information

Entity Information (USD $)
	12 Months Ended Jan. 31, 2010	Mar. 26, 2010	Jul. 31, 2009
Trading Symbol	WMT
Entity Registrant Name	WAL MART STORES INC
Entity Central Index Key	0000104169
Current Fiscal Year End Date	--01-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		3,759,007,514
Entity Public Float			$107,499,377,333