Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions |
12 Months Ended | ||
---|---|---|---|
Jan. 31, 2021 |
Jan. 31, 2020 |
Jan. 31, 2019 |
|
Revenues: | |||
Net sales | $ 555,233 | $ 519,926 | $ 510,329 |
Membership and other income | 3,918 | 4,038 | 4,076 |
Total revenues | 559,151 | 523,964 | 514,405 |
Costs and expenses: | |||
Cost of sales | 420,315 | 394,605 | 385,301 |
Operating, selling, general and administrative expenses | 116,288 | 108,791 | 107,147 |
Operating income | 22,548 | 20,568 | 21,957 |
Interest: | |||
Debt | 1,976 | 2,262 | 1,975 |
Finance, capital lease and financing obligations | 339 | 337 | 371 |
Interest income | (121) | (189) | (217) |
Interest, net | 2,194 | 2,410 | 2,129 |
Other (gains) and losses | (210) | (1,958) | 8,368 |
Income before income taxes | 20,564 | 20,116 | 11,460 |
Provision for income taxes | 6,858 | 4,915 | 4,281 |
Consolidated net income | 13,706 | 15,201 | 7,179 |
Consolidated net income attributable to noncontrolling interest | (196) | (320) | (509) |
Consolidated net income attributable to Walmart | $ 13,510 | $ 14,881 | $ 6,670 |
Net income per common share: | |||
Basic net income per common share attributable to Walmart (in USD per share) | $ 4.77 | $ 5.22 | $ 2.28 |
Diluted net income per common share attributable to Walmart (in USD per share) | $ 4.75 | $ 5.19 | $ 2.26 |
Weighted-average common shares outstanding: | |||
Basic (in shares) | 2,831 | 2,850 | 2,929 |
Diluted (in shares) | 2,847 | 2,868 | 2,945 |
Dividends declared per common share (in USD per share) | $ 2.16 | $ 2.12 | $ 2.08 |
Consolidated Statements of Comprehensive Income - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Jan. 31, 2021 |
Jan. 31, 2020 |
Jan. 31, 2019 |
|
Statement of Comprehensive Income [Abstract] | |||
Consolidated net income | $ 13,706 | $ 15,201 | $ 7,179 |
Consolidated net income attributable to noncontrolling interest | (196) | (320) | (509) |
Consolidated net income attributable to Walmart | 13,510 | 14,881 | 6,670 |
Other comprehensive income (loss), net of income taxes | |||
Currency translation and other | 842 | 286 | (226) |
Net investment hedges | (221) | 122 | 272 |
Cash flow hedges | 235 | (399) | (290) |
Minimum pension liability | (30) | (1,244) | 131 |
Other comprehensive income (loss), net of income taxes | 826 | (1,235) | (113) |
Other comprehensive (income) loss attributable to noncontrolling interest | 213 | (28) | 188 |
Other comprehensive income (loss) attributable to Walmart | 1,039 | (1,263) | 75 |
Comprehensive income, net of income taxes | 14,532 | 13,966 | 7,066 |
Comprehensive (income) loss attributable to noncontrolling interest | 17 | (348) | (321) |
Comprehensive income attributable to Walmart | $ 14,549 | $ 13,618 | $ 6,745 |
Consolidated Balance Sheets - USD ($) $ in Millions |
Jan. 31, 2021 |
Jan. 31, 2020 |
---|---|---|
Current assets: | ||
Cash and cash equivalents | $ 17,741 | $ 9,465 |
Receivables, net | 6,516 | 6,284 |
Inventories | 44,949 | 44,435 |
Prepaid expenses and other | 20,861 | 1,622 |
Total current assets | 90,067 | 61,806 |
Property and equipment, net | 92,201 | 105,208 |
Operating lease right-of-use assets | 13,642 | 17,424 |
Finance lease right-of-use assets, net | 4,005 | 4,417 |
Goodwill | 28,983 | 31,073 |
Other long-term assets | 23,598 | 16,567 |
Total assets | 252,496 | 236,495 |
Current liabilities: | ||
Short-term borrowings | 224 | 575 |
Accounts payable | 49,141 | 46,973 |
Accrued liabilities | 37,966 | 22,296 |
Accrued income taxes | 242 | 280 |
Long-term debt due within one year | 3,115 | 5,362 |
Operating lease obligations due within one year | 1,466 | 1,793 |
Finance lease obligations due within one year | 491 | 511 |
Total current liabilities | 92,645 | 77,790 |
Long-term debt | 41,194 | 43,714 |
Long-term operating lease obligations | 12,909 | 16,171 |
Long-term finance lease obligations | 3,847 | 4,307 |
Deferred income taxes and other | 14,370 | 12,961 |
Commitments and contingencies | ||
Equity: | ||
Common stock | 282 | 284 |
Capital in excess of par value | 3,646 | 3,247 |
Retained earnings | 88,763 | 83,943 |
Accumulated other comprehensive loss | (11,766) | (12,805) |
Total Walmart shareholders' equity | 80,925 | 74,669 |
Noncontrolling interest | 6,606 | 6,883 |
Total equity | 87,531 | 81,552 |
Total liabilities and equity | $ 252,496 | $ 236,495 |
Consolidated Statements Of Shareholders' Equity - USD ($) shares in Millions, $ in Millions |
Total |
Cumulative Effect, Period of Adoption, Adjustment [Member] |
Common Stock [Member] |
Capital in excess of par value [Member] |
Retained earnings [Member] |
Retained earnings [Member]
Cumulative Effect, Period of Adoption, Adjustment [Member]
|
Accumulated other comprehensive income (loss) [Member] |
Accumulated other comprehensive income (loss) [Member]
Cumulative Effect, Period of Adoption, Adjustment [Member]
|
Total Walmart shareholders' equity [Member] |
Total Walmart shareholders' equity [Member]
Cumulative Effect, Period of Adoption, Adjustment [Member]
|
Noncontrolling interest [Member] |
Noncontrolling interest [Member]
Cumulative Effect, Period of Adoption, Adjustment [Member]
|
---|---|---|---|---|---|---|---|---|---|---|---|---|
Beginning balances (in shares) at Jan. 31, 2018 | 2,952 | |||||||||||
Beginning balances at Jan. 31, 2018 | $ 80,822 | $ 924 | $ 295 | $ 2,648 | $ 85,107 | $ 2,361 | $ (10,181) | $ (1,436) | $ 77,869 | $ 925 | $ 2,953 | $ (1) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||
Consolidated net income | 7,179 | 6,670 | 6,670 | 509 | ||||||||
Other comprehensive income (loss), net of income taxes | (113) | 75 | 75 | (188) | ||||||||
Cash dividends declared | (6,102) | (6,102) | (6,102) | |||||||||
Purchase of Company stock (in shares) | (80) | |||||||||||
Purchase of Company stock | (7,487) | $ (8) | (245) | (7,234) | (7,487) | |||||||
Cash dividend declared to noncontrolling interest | (488) | (488) | ||||||||||
Noncontrolling interest of acquired entity | 4,345 | 4,345 | ||||||||||
Other (in shares) | 6 | |||||||||||
Other | 554 | $ 1 | 562 | (17) | 546 | 8 | ||||||
Ending balances (in shares) at Jan. 31, 2019 | 2,878 | |||||||||||
Ending balances 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 | 15,201 | 14,881 | 14,881 | 320 | ||||||||
Other comprehensive income (loss), net of income taxes | (1,235) | (1,263) | (1,263) | 28 | ||||||||
Cash dividends declared | (6,048) | (6,048) | (6,048) | |||||||||
Purchase of Company stock (in shares) | (53) | |||||||||||
Purchase of Company stock | (5,639) | $ (5) | (199) | (5,435) | (5,639) | |||||||
Cash dividend declared to noncontrolling interest | (475) | (475) | ||||||||||
Other (in shares) | 7 | |||||||||||
Other | 414 | $ 1 | 481 | 26 | 508 | (94) | ||||||
Ending balances (in shares) at Jan. 31, 2020 | 2,832 | |||||||||||
Ending balances 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 | 13,706 | 13,510 | 13,510 | 196 | ||||||||
Other comprehensive income (loss), net of income taxes | 826 | 1,039 | 1,039 | (213) | ||||||||
Cash dividends declared | (6,116) | (6,116) | (6,116) | |||||||||
Purchase of Company stock (in shares) | (20) | |||||||||||
Purchase of Company stock | (2,658) | $ (2) | (97) | (2,559) | (2,658) | |||||||
Cash dividend declared to noncontrolling interest | (365) | (365) | ||||||||||
Other (in shares) | 9 | |||||||||||
Other | 586 | 496 | (15) | 481 | 105 | |||||||
Ending balances (in shares) at Jan. 31, 2021 | 2,821 | |||||||||||
Ending balances at Jan. 31, 2021 | $ 87,531 | $ 282 | $ 3,646 | $ 88,763 | $ (11,766) | $ 80,925 | $ 6,606 |
Consolidated Statements Of Shareholders' Equity (Parenthetical) - $ / shares |
12 Months Ended | ||
---|---|---|---|
Jan. 31, 2021 |
Jan. 31, 2020 |
Jan. 31, 2019 |
|
Statement of Stockholders' Equity [Abstract] | |||
Cash dividends declared (in USD per share) | $ 2.16 | $ 2.12 | $ 2.08 |
Consolidated Statements of Cash Flows - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Jan. 31, 2021 |
Jan. 31, 2020 |
Jan. 31, 2019 |
|
Cash flows from operating activities: | |||
Consolidated net income | $ 13,706 | $ 15,201 | $ 7,179 |
Adjustments to reconcile consolidated net income to net cash provided by operating activities: | |||
Depreciation and amortization | 11,152 | 10,987 | 10,678 |
Net unrealized and realized (gains) and losses | (8,589) | (1,886) | 3,516 |
Losses on disposal of business operations | 8,401 | 15 | 4,850 |
Asda pension contribution | 0 | (1,036) | 0 |
Deferred income taxes | 1,911 | 320 | (499) |
Other operating activities | 1,521 | 1,981 | 1,734 |
Changes in certain assets and liabilities, net of effects of acquisitions and dispositions: | |||
Receivables, net | (1,086) | 154 | (368) |
Inventories | (2,395) | (300) | (1,311) |
Accounts payable | 6,966 | (274) | 1,831 |
Accrued liabilities | 4,623 | 186 | 183 |
Accrued income taxes | (136) | (93) | (40) |
Net cash provided by operating activities | 36,074 | 25,255 | 27,753 |
Cash flows from investing activities: | |||
Payments for property and equipment | (10,264) | (10,705) | (10,344) |
Proceeds from the disposal of property and equipment | 215 | 321 | 519 |
Proceeds from the disposal of certain operations | 56 | 833 | 876 |
Payments for business acquisitions, net of cash acquired | (180) | (56) | (14,656) |
Other investing activities | 102 | 479 | (431) |
Net cash used in investing activities | (10,071) | (9,128) | (24,036) |
Cash flows from financing activities: | |||
Net change in short-term borrowings | (324) | (4,656) | (53) |
Proceeds from issuance of long-term debt | 0 | 5,492 | 15,872 |
Repayments of long-term debt | (5,382) | (1,907) | (3,784) |
Dividends paid | (6,116) | (6,048) | (6,102) |
Purchase of Company stock | (2,625) | (5,717) | (7,410) |
Dividends paid to noncontrolling interest | (434) | (555) | (431) |
Other financing activities | (1,236) | (908) | (629) |
Net cash used in financing activities | (16,117) | (14,299) | (2,537) |
Effect of exchange rates on cash, cash equivalents and restricted cash | 235 | (69) | (438) |
Net increase in cash, cash equivalents and restricted cash | 10,121 | 1,759 | 742 |
Cash and cash equivalents reclassified as assets held for sale | (1,848) | 0 | 0 |
Cash, cash equivalents and restricted cash at beginning of year | 9,515 | 7,756 | 7,014 |
Cash, cash equivalents and restricted cash at end of year | 17,788 | 9,515 | 7,756 |
Supplemental disclosure of cash flow information: | |||
Income taxes paid | 5,271 | 3,616 | 3,982 |
Interest paid | $ 2,216 | $ 2,464 | $ 2,348 |
Summary of Significant Accounting Policies |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies General Walmart Inc. ("Walmart" or the "Company") helps people around the world save money and live better – anytime and anywhere – by providing the opportunity to shop in retail stores and through eCommerce. Through innovation, the Company is striving to continuously improve a customer-centric experience that seamlessly integrates eCommerce and retail stores in an omni-channel offering that saves time for its customers. The Company's operations comprise three reportable segments: Walmart U.S., Walmart International and Sam's Club. Principles of Consolidation The Consolidated Financial Statements include the accounts of Walmart and its subsidiaries as of and for the fiscal years ended January 31, 2021 ("fiscal 2021"), January 31, 2020 ("fiscal 2020") and January 31, 2019 ("fiscal 2019"). Intercompany accounts and transactions have been eliminated in consolidation. The Company consolidates variable interest entities where it has been determined that the Company is the primary beneficiary of those entities' operations. Investments for which the Company exercises significant influence but does not have control are accounted for under the equity method. These variable interest entities and equity method investments are immaterial to the Company's Consolidated Financial Statements. The Company's Consolidated Financial Statements are based on a fiscal year ending on 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 January 2021 related to the operations consolidated using a lag that materially affected the Consolidated Financial Statements. Use of Estimates The Consolidated Financial Statements have been prepared in conformity with U.S. generally accepted accounting principles. 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 from those estimates. Cash and Cash Equivalents The Company considers investments with a maturity when purchased of three months or less to be cash equivalents. All credit card, debit card and electronic transfer 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 and cash equivalents totaled $4.1 billion and $1.7 billion as of January 31, 2021 and 2020, respectively. The Company's cash balances are held in various locations around the world. Of the Company's $17.7 billion and $9.5 billion in cash and cash equivalents as of January 31, 2021 and January 31, 2020, approximately 40% and 80% were held outside of the U.S., respectively. Cash and cash equivalents held outside of the U.S. are generally utilized to support liquidity needs in the Company's non-U.S. operations. The Company uses intercompany financing arrangements in an effort to ensure cash can be made available in the country in which it is needed with the minimum cost possible. As of January 31, 2021 and 2020, cash and cash equivalents of approximately $2.8 billion and $2.3 billion, respectively, may not be freely transferable to the U.S. due to local laws or other restrictions. Of the $2.8 billion as of January 31, 2021, approximately $1.0 billion can only be accessed through dividends or intercompany financing arrangements subject to approval of Flipkart Private Limited ("Flipkart") minority shareholders; however, this cash is expected to be utilized to fund the operations of Flipkart. Receivables Receivables are stated at their carrying values, net of a reserve for doubtful accounts, 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. As of January 31, 2021 and January 31, 2020, receivables from transactions with customers, net were $2.7 billion and $2.9 billion, respectively. Inventories The Company values inventories at the lower of cost or market as determined primarily by the retail inventory method of accounting, using the last-in, first-out ("LIFO") method for the Walmart U.S. segment's inventories. The inventory for the Walmart International segment is valued primarily by the retail inventory method of accounting, using the first-in, first-out ("FIFO") method. The retail inventory method of accounting results in inventory being valued at the lower of cost or market, since permanent markdowns are immediately recorded as a reduction of the retail value of inventory. The inventory at the Sam's Club segment is valued using the weighted-average cost LIFO method. As of January 31, 2021 and January 31, 2020, the Company's inventories valued at LIFO approximated those inventories as if they were valued at FIFO. Held for Sale Components and businesses that meet accounting requirements to be classified as held for sale are presented as single asset and liability amounts in the Company's financial statements with a valuation allowance, if necessary, to recognize the net carrying amount at the lower of cost or fair value, less costs to sell. The Company reviews its businesses and assets held for sale each reporting period to determine whether the existing carrying amounts are fully recoverable in comparison to estimated fair values. As of January 31, 2021, $19.2 billion assets held for sale and $12.7 billion liabilities held for sale were classified in prepaid expenses and other and accrued liabilities in the Consolidated Balance Sheets, respectively, reflecting the Company's operations in the U.K. and Japan classified as held for sale. Refer to Note 12 for additional details. As of January 31, 2020, assets and liabilities held for sale were immaterial. Property and Equipment Property and equipment are initially recorded at cost. Gains or losses on disposition are recognized as earned or incurred. Costs of major improvements are capitalized, while costs of normal repairs and maintenance are expensed as incurred. The following table summarizes the Company's property and equipment balances, and includes the estimated useful lives that are generally used to depreciate the assets on a straight-line basis:
Leasehold improvements are depreciated or amortized over the shorter of the estimated useful life of the asset or the remaining expected lease term. Total depreciation and amortization expense for property and equipment, property under finance leases and financing obligations, property under capital leases and intangible assets for fiscal 2021, 2020 and 2019 was $11.2 billion, $11.0 billion and $10.7 billion, respectively. Leases For any new or modified lease, the Company, at the inception of the contract, determines whether a contract is or contains a lease. The Company records right-of-use ("ROU") assets and lease obligations for its finance and operating leases, which are initially recognized based on the discounted future lease payments over the term of the lease. As the rate implicit in the Company's leases is not easily determinable, the Company’s applicable incremental borrowing rate is used in calculating the present value of the sum of the lease payments. Lease term is defined as the non-cancelable period of the lease plus any options to extend or terminate the lease when it is reasonably certain that the Company will exercise the option. The Company has elected not to recognize ROU asset and lease obligations for its short-term leases, which are defined as leases with an initial term of 12 months or less. For a majority of all classes of underlying assets, the Company has elected to not separate lease from non-lease components. For leases in which the lease and non-lease components have been combined, the variable lease expense includes expenses such as common area maintenance, utilities, and repairs and maintenance. Impairment of Long-Lived Assets Management reviews long-lived assets for indicators of impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. The evaluation is performed at the lowest level of identifiable cash flows, which is at the individual store or club level. Undiscounted cash flows expected to be generated by the related assets are estimated over the assets' useful lives based on updated projections. If the evaluation indicates that the carrying amount of the assets may not be recoverable, any potential impairment is measured based upon the fair value of the related asset or asset group as determined by an appropriate market appraisal or other valuation technique. Goodwill and Other Acquired Intangible Assets Goodwill represents the excess of the purchase price over the fair value of net assets acquired in business combinations and is allocated to the appropriate reporting unit when acquired. Other acquired intangible assets are stated at the fair value acquired as determined by a valuation technique commensurate with the intended use of the related asset. Goodwill and indefinite-lived intangible assets are not amortized; rather, they are evaluated for impairment annually and whenever events or changes in circumstances indicate that the value of the asset may be impaired. Definite-lived intangible assets are considered long-lived assets and are amortized on a straight-line basis over the periods that expected economic benefits will be provided. Goodwill is assigned to the reporting unit which consolidates the acquisition. Components within the same reportable segment are aggregated and deemed a single reporting unit if the components have similar economic characteristics. As of January 31, 2021, the Company's reporting units consisted of Walmart U.S., Walmart International and Sam's Club. Goodwill is evaluated for impairment using either a qualitative or quantitative approach for each of the Company's reporting units. Generally, a qualitative assessment is first performed to determine whether a quantitative goodwill impairment test is necessary. If management determines, after performing an assessment based on the qualitative factors, that the fair value of the reporting unit is more likely than not less than the carrying amount, or that a fair value of the reporting unit substantially in excess of the carrying amount cannot be assured, then a quantitative goodwill impairment test would be required. The quantitative test for goodwill impairment is performed by determining the fair value of the related reporting units. Fair value is measured based on the discounted cash flow method and relative market-based approaches. After evaluation, management determined the fair value of each reporting unit is significantly greater than the carrying amount and, accordingly, the Company has not recorded any impairment charges related to goodwill. The following table reflects goodwill activity, by reportable segment, for fiscal 2021 and 2020:
(1) Represents goodwill associated with operations in the U.K. and Japan which are classified as held for sale as of January 31, 2021. Refer to Note 12. Intangible assets are included in other long-term assets in the Company's Consolidated Balance Sheets. As of January 31, 2021 and 2020, the Company had $4.9 billion and $5.2 billion, respectively, in indefinite-lived intangible assets which primarily consists of acquired trade names. Refer to Note 12 for additional information related to acquired intangible assets for the Flipkart acquisition in fiscal 2019. There were no significant impairment charges related to intangible assets for fiscal 2021. During fiscal 2020, the Company incurred approximately $0.7 billion in impairment charges related to its intangible assets. Refer to Note 8 for additional information. Fair Value Measurement The Company records and discloses certain financial and non-financial assets and liabilities at 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. The fair value of a liability is 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. Refer to Note 8 for more information. Additionally, the Company may provide routine indemnifications in connection with certain transactions, primarily divestitures, for which an indemnification liability equal to the estimated fair value of the obligation is recorded upon inception. Where necessary, these obligations are recorded at their fair value within deferred income taxes and other in the Consolidated Balance Sheets. Investments Investments in equity securities with readily determinable fair values are recorded at fair value in other long-term assets in the Consolidated Balance Sheets with changes in fair value recognized in other gains and losses in the Consolidated Statements of Income. Refer to Note 8 for details. Equity investments without readily determinable fair values are carried at cost in other long-term assets in the Consolidated Balance Sheets, and adjusted for any observable price changes or impairments recorded in other gains and losses in the Consolidated Statements of Income. Investments in debt securities classified as held-to-maturity are reported at amortized cost in other long-term assets in the Consolidated Balance Sheets with interest or dividend income recorded in interest income in the Consolidated Statements of Income. Self Insurance Reserves The Company self-insures a number of risks, including, but not limited to, workers' compensation, general liability, auto liability, product liability and certain employee-related healthcare benefits. Standard actuarial procedures and data analysis are used to estimate the liabilities associated with these risks as of the balance sheet date on an undiscounted basis. The recorded liabilities reflect the ultimate cost for claims incurred but not paid and any estimable administrative run-out expenses related to the processing of these outstanding claim payments. On a regular basis, the liabilities are evaluated for appropriateness with claims reserve valuations. To limit exposure to some risks, the Company maintains insurance coverage with varying limits and retentions, including stop-loss insurance coverage for workers' compensation, general liability and auto liability. Derivatives The Company uses derivatives for hedging purposes to manage its exposure to changes in interest and currency exchange rates, as well as to maintain an appropriate mix of fixed- and variable-rate debt. Use of derivatives in hedging programs subjects the Company to certain risks, such as market and credit risks. The Company may be exposed to credit-related losses in the event of nonperformance by its counterparties to derivatives. Credit risk is monitored through established approval procedures, including setting concentration limits by counterparty, reviewing credit ratings and requiring collateral from the counterparty. The Company enters into derivatives with counterparties rated only "A-" or better by nationally recognized credit rating agencies. The Company is subject to master netting arrangements which provides set-off and close out netting of exposures with counterparties, but the Company does not offset derivative assets and liabilities in its Consolidated Balance Sheets. The Company’s collateral arrangements require the counterparty in a net liability position in excess of pre-determined thresholds, after considering the effects of netting arrangements, to pledge cash collateral. Cash collateral received under these arrangements was not significant as of January 31, 2021 and 2020. The Company was not required to provide any cash collateral to counterparties as of January 31, 2021 and 2020. In order to qualify for hedge accounting, at the inception of the hedging relationship, the Company formally documents its risk management objective and strategy for undertaking the hedging transaction, as well as its designation of the hedge. If a derivative is recorded using hedge accounting, depending on the nature of the hedge, derivative gains and losses are recorded through the same financial statement line item in earnings or are recognized in accumulated other comprehensive loss until the hedged item is recognized in earnings. Derivatives that do not meet the criteria for hedge accounting, or contracts for which the Company has not elected hedge accounting, are recorded at fair value with unrealized gains or losses reported in earnings. Derivatives with an unrealized gain are recorded in the Company's Consolidated Balance Sheets as either current or non-current assets, based on maturity date, and derivatives with an unrealized loss are recorded as either current or non-current liabilities, based on maturity date. Refer to Note 8 for the presentation of the Company's derivative assets and liabilities. Fair Value Hedges The Company is a party to receive fixed-rate, pay variable-rate interest rate swaps that the Company uses to hedge the fair value of fixed-rate debt. All interest rate swaps designated as fair value hedges of the related long-term debt meet the shortcut method requirements under U.S. GAAP. Accordingly, changes in the fair values of these interest rate swaps are considered to exactly offset changes in the fair value of the underlying long-term debt. These derivatives will mature on dates ranging from April 2023 to April 2024. Cash Flow Hedges The Company is a party to receive fixed-rate, pay fixed-rate cross currency interest rate swaps used to hedge the currency exposure associated with the forecasted payments of principal and interest of certain non-U.S. denominated debt. The Company records changes in the fair value of these swaps in accumulated other comprehensive loss which is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. These derivatives will mature on dates ranging from April 2022 to March 2034. Net Investment Hedges The Company is a party to receive fixed-rate, pay fixed-rate cross currency interest rate swaps used to hedge the currency exposure associated with net investments of certain of its foreign operations. The Company records changes in fair value attributable to the hedged risk in accumulated other comprehensive loss. These derivatives, which relate to the Company's operations in the United Kingdom held for sale as of January 31, 2021, have maturity dates ranging from October 2023 to February 2030. The Company also designated certain foreign currency denominated long-term debt as a hedge of currency exposure associated with the net investment of the Company's operations in the United Kingdom and Japan, both of which were classified as held for sale as of January 31, 2021. The Company records foreign currency gain or loss associated with designated long-term debt in accumulated other comprehensive loss. As of January 31, 2021 and 2020, the Company had $3.3 billion and $3.9 billion, respectively, of outstanding long-term debt designated as net investment hedges. These derivative and non-derivative gains or losses continue to defer in accumulated other comprehensive loss until the sale or substantial liquidation of these foreign operations. Refer to Note 12 for additional detail regarding the divestiture of the Company's operations in the United Kingdom and Japan. Income Taxes Income taxes are accounted for under the balance sheet method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases ("temporary differences"). Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rate is recognized in income in the period that includes the enactment date. Deferred tax assets are evaluated for future realization and reduced by a valuation allowance to the extent that a portion is not more likely than not to be realized. Many factors are considered when assessing whether it is more likely than not that the deferred tax assets will be realized, including recent cumulative earnings, expectations of future taxable income, carryforward periods, and other relevant quantitative and qualitative factors. The recoverability of the deferred tax assets is evaluated by assessing the adequacy of future expected taxable income from all sources, including reversal of taxable temporary differences, forecasted operating earnings and available tax planning strategies. These sources of income rely on estimates. The Tax Cuts and Jobs Act of 2017 (the "Tax Act") contains a provision which subjects a U.S. parent of a foreign subsidiary to current U.S. tax on its global intangible low–taxed income (“GILTI”). The GILTI income is eligible for a deduction, which lowers the effective tax rate to 10.5% for calendar years 2018 through 2025 and 13.125% after 2025. The Company will report the tax impact of GILTI as a period cost when incurred. Accordingly, the Company is not providing deferred taxes for basis differences expected to reverse as GILTI. In determining the provision for income taxes, an annual effective income tax rate is used based on annual income, permanent differences between book and tax income, and statutory income tax rates. Discrete events such as audit settlements or changes in tax laws are recognized in the period in which they occur. The Company records a liability for unrecognized tax benefits resulting from uncertain tax positions taken or expected to be taken in a tax return. The Company records interest and penalties related to unrecognized tax benefits in interest expense and operating, selling, general and administrative expenses, respectively, in the Company's Consolidated Statements of Income. Refer to Note 9 for additional income tax disclosures. Revenue Recognition Net Sales The Company recognizes sales revenue, net of sales taxes and estimated sales returns, at the time it sells merchandise or services to the customer. eCommerce sales include shipping revenue and are recorded upon delivery to the customer. Estimated sales returns are calculated based on expected returns. Membership Fee Revenue The Company recognizes membership fee revenue both in the U.S. and internationally over the term of the membership, which is typically 12 months. Membership fee revenue was $1.7 billion for fiscal 2021, $1.5 billion for fiscal 2020 and $1.4 billion for fiscal 2019, respectively. Membership fee revenue is included in membership and other income in the Company's Consolidated Statements of Income. Deferred membership fee revenue is included in accrued liabilities in the Company's Consolidated Balance Sheets. Gift Cards Customer purchases of gift cards are not recognized as sales until the card is redeemed and the customer purchases merchandise using the gift card. Gift cards in the U.S. and some countries do not carry an expiration date; therefore, customers and members can redeem their gift cards for merchandise and services indefinitely. Gift cards in some countries where the Company does business have expiration dates. While gift cards are generally redeemed within 12 months, a certain number of gift cards, both with and without expiration dates, will not be fully redeemed. Management estimates unredeemed balances and recognizes revenue for these amounts in membership and other income in the Company's Consolidated Statements of Income over the expected redemption period. Financial and Other Services The Company recognizes revenue from service transactions at the time the service is performed. Generally, revenue from services is classified as a component of net sales in the Company's Consolidated Statements of Income. Cost of Sales Cost of sales includes actual product cost, the cost of transportation to the Company's distribution facilities, stores and clubs from suppliers, the cost of transportation from the Company's distribution facilities to the stores, clubs and customers and the cost of warehousing for the Sam's Club segment and import distribution centers. Cost of sales is reduced by supplier payments that are not a reimbursement of specific, incremental and identifiable costs. Payments from Suppliers The Company receives consideration from suppliers for various programs, primarily volume incentives, warehouse allowances and reimbursements for specific programs such as markdowns, margin protection, advertising and supplier-specific fixtures. Payments from suppliers are accounted for as a reduction of cost of sales, except in certain limited situations when the payment is a reimbursement of specific, incremental and identifiable costs, and are recognized in the Company's Consolidated Statements of Income when the related inventory is sold. Operating, Selling, General and Administrative Expenses Operating, selling, general and administrative expenses include all operating costs of the Company, except cost of sales, as described above. As a result, the majority of the cost of warehousing and occupancy for the Walmart U.S. and Walmart International segments' distribution facilities is included in operating, selling, general and administrative expenses. Because the Company only includes a portion of the cost of its Walmart U.S. and Walmart International segments' distribution facilities in cost of sales, its gross profit and gross profit as a percentage of net sales may not be comparable to those of other retailers that may include all costs related to their distribution facilities in cost of sales and in the calculation of gross profit. Advertising Costs Advertising costs are expensed as incurred, consist primarily of print, television and digital advertisements and are recorded in operating, selling, general and administrative expenses in the Company's Consolidated Statements of Income. In certain limited situations, reimbursements from suppliers that are for specific, incremental and identifiable advertising costs are recognized as a reduction of advertising costs in operating, selling, general and administrative expenses. Advertising costs were $3.2 billion, $3.7 billion and $3.5 billion for fiscal 2021, 2020 and 2019, respectively. Currency Translation The assets and liabilities of all international subsidiaries are translated from the respective local currency to the U.S. dollar using exchange rates at the balance sheet date. Related translation adjustments are recorded as a component of accumulated other comprehensive loss. The Company's Consolidated Statements of Income of all international subsidiaries are translated from the respective local currencies to the U.S. dollar using average exchange rates for the period covered by the income statements. Recent Accounting Pronouncements Financial Instruments In June 2016, the FASB issued 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 Consolidated Financial Statements.
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Net Income Per Common Share |
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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 antidilutive and not included in the calculation of diluted net income per common share attributable to Walmart for fiscal 2021, 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:
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Shareholders' Equity |
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Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shareholders' Equity | Shareholders' Equity The total authorized shares of $0.10 par value common stock is 11.0 billion, of which 2.8 billion were issued and outstanding as of January 31, 2021 and 2020. Share-Based Compensation The Company has awarded share-based compensation to associates and nonemployee directors of the Company. The compensation expense recognized for all stock incentive plans, including expense associated with plans of the Company's consolidated subsidiaries granted in the subsidiaries' respective stock, was $1.2 billion, $0.9 billion and $0.8 billion for fiscal 2021, 2020 and 2019, respectively. Share-based compensation expense is generally included in operating, selling, general and administrative expenses in the Company's Consolidated Statements of Income. The total income tax benefit recognized for share-based compensation was $0.3 billion, $0.2 billion and $0.2 billion for fiscal 2021, 2020 and 2019, respectively. The following table summarizes the Company's share-based compensation expense by award type for all plans:
The Walmart Inc. Stock Incentive Plan of 2015 (the "Plan"), as subsequently amended and restated, was established to grant stock options, restricted (non-vested) stock, performance share units and other equity compensation awards for which 260 million shares of Walmart common stock issued or to be issued under the Plan have been registered under the Securities Act of 1933. The Company believes that such awards serve to align the interests of its associates with those of its shareholders. The Plan's award types are summarized as follows: •Restricted Stock Units. Restricted stock units provide rights to Company stock after a specified service period. Beginning in fiscal 2020, restricted stock units generally vest at a rate of 25% each year over a year period from the date of the grant. Prior to fiscal 2020, 50% of restricted stock units generally vested three years from the grant date and the remaining 50% were vested five years from the grant date. The fair value of each restricted stock unit is determined on the date of grant using the stock price discounted for the expected dividend yield through the vesting period and is recognized ratably over the vesting period. The expected dividend yield is based on the anticipated dividends over the vesting period. The weighted-average discount for the dividend yield used to determine the fair value of restricted stock units granted in fiscal 2021, 2020 and 2019 was 4.4%, 4.9% and 7.2%, respectively. •Restricted Stock and Performance-based Restricted Stock Units. Restricted stock awards are for shares that vest based on the passage of time and include restrictions related to employment. Performance-based restricted stock units vest based on the passage of time and achievement of performance criteria and may range from 0% to 150% of the original award amount. Vesting periods for these awards are generally between and three years. Restricted stock and performance-based restricted stock units may be settled or deferred in stock and are accounted for as equity in the Company's Consolidated Balance Sheets. The fair value of restricted stock awards is determined on the date of grant and is expensed ratably over the vesting period. The fair value of performance-based restricted stock units is determined on the date of grant using the Company's stock price discounted for the expected dividend yield through the vesting period and is recognized over the vesting period. The weighted-average discount for the dividend yield used to determine the fair value of performance-based restricted stock units in fiscal 2021, 2020 and 2019 was 4.5%, 5.1% and 6.2%, respectively. In addition to the Plan, Flipkart has certain share-based compensation plans for associates under which options to acquire Flipkart common shares may be issued. Share-based compensation expense associated with these plans is included in the Other line in the table above. The following table shows the activity for restricted stock units and restricted stock and performance-based restricted stock units during fiscal 2021:
(1) Represents the adjustment to previously granted performance share units for performance achievement. The following table includes additional information related to restricted stock units and restricted stock and performance-based restricted stock units:
Share Repurchase Program From time to time, the Company repurchases shares of its common stock under share repurchase programs authorized by the Company's Board of Directors. All repurchases made during fiscal 2021 were made under the $20.0 billion share repurchase program approved in October 2017, of which authorization for $3.0 billion of share repurchases remained as of January 31, 2021. On February 18, 2021, the Board of Directors approved a new $20.0 billion share repurchase program which, beginning February 22, 2021, replaced the previous share repurchase program. Any repurchased shares are constructively retired and returned to an unissued status. The Company regularly reviews share repurchase activity and considers several factors in determining when to execute share repurchases, including, among other things, current cash needs, capacity for leverage, cost of borrowings, results of operations and the market price of the Company's common stock. The following table provides, on a settlement date basis, the number of shares repurchased, average price paid per share and total amount paid for share repurchases for fiscal 2021, 2020 and 2019:
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Accumulated Other Comprehensive Loss |
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Accumulated Other Comprehensive Loss | Accumulated Other Comprehensive Loss The following table provides the changes in the composition of total accumulated other comprehensive loss for fiscal 2021, 2020, and 2019:
(1) Primarily relates to the adoption of ASU 2016-01 and ASU 2018-02, Income Statement–Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. (2) Includes a cumulative foreign currency translation loss of $2.0 billion, for which there was no related income taxes, upon sale of the majority stake in Walmart Brazil. Refer to Note 12. (3) Primarily includes the remeasurement of Asda Group Limited's ("Asda") pension benefit obligation subsequent to the cash contribution made by Asda in fiscal 2020. Refer to Note 11. (4) Includes a cumulative foreign currency translation loss of $0.8 billion, for which there was no related income taxes, upon sale of the majority stake in Walmart Argentina. Refer to Note 12. Amounts reclassified from accumulated other comprehensive loss for derivatives are recorded in interest, net, in the Company's Consolidated Statements of Income, and the amounts for the minimum pension liability, as well as the cumulative translation resulting from the disposition of a business, are recorded in other gains and losses in the Company's Consolidated Statements of Income.
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Accrued Liabilities |
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Accrued Liabilities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued Liabilities | Accrued Liabilities The Company's accrued liabilities consist of the following as of January 31, 2021 and 2020:
(1)Liabilities held for sale relate to the Company's operations in Japan and the U.K. classified as held for sale as of January 31, 2021. See Note 12. (2)Accrued wages and benefits include accrued wages, salaries, vacation, bonuses and other incentive plans. (3)Self-insurance consists of insurance-related liabilities, such as workers' compensation, general liability, auto liability, product liability and certain employee-related healthcare benefits. (4)Accrued non-income taxes include accrued payroll, property, value-added, sales and miscellaneous other taxes. (5)Other accrued liabilities consist of various items such as interest, maintenance, utilities, legal contingencies, and advertising.
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Short-term Borrowings and Long-term Debt |
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Long-term Debt, Unclassified [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Short-term Borrowings and Long-term Debt | Short-term Borrowings and Long-term Debt Short-term borrowings consist of commercial paper and lines of credit. Short-term borrowings as of January 31, 2021 and 2020 were $0.2 billion and $0.6 billion, respectively, with weighted-average interest rates of 1.9% and 5.0%, respectively. Short-term borrowings as of January 31, 2020 were primarily outside of the U.S. The Company has various committed lines of credit in the U.S. to support its commercial paper program and are summarized in the following table:
(1) In April 2020, the Company renewed and extended its existing 364-day revolving credit facility. The committed lines of credit in the table above mature at various times between April 2021 and May 2024, carry interest rates generally ranging between LIBOR plus 10 basis points and LIBOR plus 75 basis points, and incur commitment fees ranging between 1.5 and 4.0 basis points. In conjunction with the committed lines of credit listed in the table above, the Company has agreed to observe certain covenants, the most restrictive of which relates to the maximum amount of secured debt. Additionally, the Company has syndicated and fronted letters of credit available which totaled $1.8 billion as of January 31, 2021 and 2020, of which $1.8 billion and $1.6 billion was drawn as of January 31, 2021 and 2020, respectively. The Company's long-term debt, which includes the fair value instruments further discussed in Note 8, consists of the following as of January 31, 2021 and 2020:
(1)The average rate represents the weighted-average stated rate for each corresponding debt category, based on year-end balances and year-end interest rates. (2)Includes deferred loan costs, discounts, fair value hedges, foreign-held debt and secured debt. Annual maturities of long-term debt during the next five years and thereafter are as follows:
Debt Issuances There were no long-term debt issuances in fiscal 2021. Information on long-term debt issued during fiscal 2020, for general corporate purposes, is as follows:
The fiscal 2020 issuances are senior, unsecured notes which rank equally with all other senior, unsecured debt obligations of the Company, and are not convertible or exchangeable. These issuances do not contain any financial covenants which restrict the Company's ability to pay dividends or repurchase company stock. Repayments The following table provides details of debt repayments during fiscal 2021:
The following table provides details of debt repayments during fiscal 2020:
(1) Includes repayments of smaller long-term debt as it matured in several non-U.S. operations.
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Leases |
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Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Leases | Leases The Company leases certain retail locations, distribution and fulfillment centers, warehouses, office spaces, land and equipment throughout the U.S. and internationally. The Company's lease costs recognized in the Consolidated Statement of Income consist of the following:
(1) Rentals (including amounts applicable to taxes, insurance, maintenance, other operating expenses and contingent rentals) under operating leases and other short-term rental arrangements were $3.0 billion in fiscal 2019. Other lease information is as follows:
(1) For fiscal 2021, weighted average remaining lease term and discount rate amounts exclude operations classified as held for sale. The aggregate annual lease obligations at January 31, 2021, are as follows:
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Leases | Leases The Company leases certain retail locations, distribution and fulfillment centers, warehouses, office spaces, land and equipment throughout the U.S. and internationally. The Company's lease costs recognized in the Consolidated Statement of Income consist of the following:
(1) Rentals (including amounts applicable to taxes, insurance, maintenance, other operating expenses and contingent rentals) under operating leases and other short-term rental arrangements were $3.0 billion in fiscal 2019. Other lease information is as follows:
(1) For fiscal 2021, weighted average remaining lease term and discount rate amounts exclude operations classified as held for sale. The aggregate annual lease obligations at January 31, 2021, are as follows:
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Fair Value Measurements |
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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 Consolidated Balance Sheets. The fair value of the Company's equity investments with readily determinable fair values are as follows:
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 January 31, 2021 and January 31, 2020, the notional amounts and fair values of these derivatives were as follows:
(1)Classified in other long-term assets within the Company's Consolidated Balance Sheets. (2)Classified in deferred income taxes and other within the Company's Consolidated Balance Sheets. (3)Approximately $456 million of cash flow hedges were classified in deferred income taxes and other and $62 million of cash flow were classified in other long-term assets in the Company's 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. As further discussed in Note 12, the Company's operations in Argentina, Japan and the U.K. met the held for sale criteria in fiscal 2021. As a result, the individual disposal groups were measured at fair value, less costs to sell, which is considered a Level 3 fair value measurement based on each transaction’s expected consideration. The carrying value of the Argentina, Japan and U.K. disposal groups exceeded their fair value, less costs to sell, and as a result, the Company recognized non-recurring impairment charges. The aggregate pre-tax loss of $8.3 billion associated with the divestiture of these operations in the Walmart International segment was recorded in other gains and losses in the Consolidated Statements of Income for the year ended January 31, 2021 and included these impairment charges as well as a $2.3 billion charge related to the Asda pension plan. These impairment charges include the anticipated release of non-cash cumulative foreign currency translation losses associated with the disposal groups. Other impairment charges for assets measured at fair value on a nonrecurring basis during fiscal 2021 were immaterial. For the fiscal year ended January 31, 2020, the Company recorded impairment charges related to assets measured at fair value on a non-recurring basis primarily related to the following: •in the Walmart U.S. segment, $0.5 billion in impairment charges for impaired assets consisting primarily of trade names and acquired developed software due to strategic decisions that resulted in the write-down of certain eCommerce assets; and •in the Walmart International segment, $0.4 billion in impairment charges consisting primarily of the write-off of the carrying value of one of Flipkart's two fashion trade names, Jabong.com, as a result of a strategic decision to focus on the Myntra.com fashion platform. These impairment charges were classified in operating, selling, general and administrative expenses in the Company's Consolidated Statements of Income. Other impairment charges for assets measured at fair value on a nonrecurring basis during fiscal 2020 were immaterial. For the fiscal year ended January 31, 2019, the Company sold the majority stake in Walmart Brazil during fiscal 2019 as discussed in Note 12. The assets of the disposal group totaled $3.3 billion and were comprised of $1.0 billion in current assets, $1.6 billion in property and equipment and property under capital lease and financing obligations, net, and $0.7 billion of other long-term assets. When measured as held for sale, these assets were fully impaired as the carrying value of the disposal group exceeded the fair value, less costs to sell and contributed to a pre-tax net loss of $4.8 billion in the Walmart International segment, which was recorded in other gains and losses in the Company's Consolidated Statement of Income. Other impairment charges to assets measured at fair value on a nonrecurring basis during fiscal 2019 were immaterial. 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 January 31, 2021 and 2020, are as follows:
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Taxes |
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Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Taxes | Taxes The components of income (loss) before income taxes are as follows:
A summary of the provision for income taxes is as follows:
In December 2017, the Tax Act was enacted and significantly changed U.S. income tax law. Beginning January 2018, the Tax Act reduced the U.S. statutory tax rate and created new taxes focused on foreign-sourced earnings and related-party payments, including the creation of the base erosion anti-abuse tax and a new tax on global intangible low-taxed income ("GILTI"). In addition, the Company was subject to a one-time transition tax in fiscal 2018 on accumulated foreign subsidiary earnings not previously subject to U.S. income tax. The SEC staff issued Staff Accounting Bulletin No. 118, Income Tax Accounting Implications of the Tax Cuts and Jobs Act ("SAB 118"), which allowed companies to record provisional amounts during a measurement period not to extend beyond one year of the enactment date. Due to the timing of the enactment and the complexity involved in applying the provisions of the Tax Act, the Company made reasonable estimates of the effects and recorded provisional amounts in its financial statements as of January 31, 2018, in accordance with SAB 118. The Company elected to apply the measurement period provisions of this guidance to certain income tax effects of the Tax Act when it became effective. The provisional measurement period ended in the fourth quarter of fiscal 2019. Management completed the Company's accounting for tax reform in fiscal 2019 based on prevailing regulations and currently available information, and any additional guidance issued by the IRS could impact the aforementioned amounts in future periods. In fiscal 2019, the Company recorded $442 million of additional tax expense related to the Tax Act, included as a component of provision for income taxes. One-time Transition Tax The Tax Act required the Company to pay U.S. income taxes on accumulated foreign subsidiary earnings not previously subject to U.S. income tax at a rate of 15.5% to the extent of foreign cash and certain other net current assets, as defined by the Tax Act, and 8.0% on the remaining earnings. The Company calculated the transition tax liability and increased the provisional amount by $413 million, with the increase included as a component of provision for income taxes in fiscal 2019. Effective Income Tax Rate Reconciliation A reconciliation of the significant differences between the U.S. statutory tax rate and the effective income tax rate on pre-tax income from continuing operations is as follows:
The following sections regarding deferred taxes, unremitted earnings, net operating losses, tax credit carryforwards, valuation allowances and uncertain tax positions exclude amounts related to operations classified as held for sale as of January 31, 2021. Deferred Taxes The significant components of the Company's deferred tax account balances are as follows:
The deferred taxes noted above are classified as follows in the Company's Consolidated Balance Sheets:
Unremitted Earnings Prior to the Tax Act, the Company asserted that all unremitted earnings of its foreign subsidiaries were considered indefinitely reinvested. As a result of the Tax Act, the Company reported and paid U.S. tax on the majority of its previously unremitted foreign earnings, and repatriations of foreign earnings will generally be free of U.S. federal tax, but may incur other taxes such as withholding or state taxes. As of January 31, 2021, the Company has not recorded approximately $2 billion of deferred tax liabilities associated with remaining unremitted foreign earnings considered indefinitely reinvested, for which U.S. and foreign income and withholding taxes would be due upon repatriation. Net Operating Losses, Tax Credit Carryforwards and Valuation Allowances As of January 31, 2021, the Company's net operating loss and capital loss carryforwards totaled approximately $38.4 billion. Of these carryforwards, approximately $26.4 billion will expire, if not utilized, in various years through 2041. The remaining carryforwards have no expiration. The recoverability of these future tax deductions and credits is evaluated by assessing the adequacy of future expected taxable income from all sources, including taxable income in prior carryback years, reversal of taxable temporary differences, forecasted operating earnings and available tax planning strategies. To the extent the Company does not consider it more likely than not that a deferred tax asset will be recovered, a valuation allowance is generally established. To the extent that a valuation allowance was established and it is subsequently determined that it is more likely than not that the deferred tax assets will be recovered, the change in the valuation allowance is recognized in the Consolidated Statements of Income. The Company had valuation allowances of $8.8 billion and $8.6 billion as of January 31, 2021 and 2020, respectively, on deferred tax assets associated primarily with the net operating loss carryforwards. Activity in the valuation allowance during fiscal 2021 related to valuation allowance builds in multiple markets, as well as releases due to the expiration of underlying deferred tax assets. Uncertain Tax Positions The benefits of uncertain tax positions are recorded in the Company's Consolidated Financial Statements only after determining a more-likely-than-not probability that the uncertain tax positions will withstand challenge, if any, from taxing authorities. As of January 31, 2021 and 2020, the amount of gross unrecognized tax benefits related to continuing operations was $3.1 billion and $1.8 billion, respectively. The amount of unrecognized tax benefits that would affect the Company's effective income tax rate was $1.7 billion and $1.6 billion as of January 31, 2021 and 2020, respectively. A reconciliation of gross unrecognized tax benefits from continuing operations is as follows:
The Company classifies interest and penalties related to uncertain tax benefits as interest expense and as operating, selling, general and administrative expenses, respectively. Interest expense and penalties related to these positions were immaterial for fiscal 2021, 2020 and 2019. During the next twelve months, it is reasonably possible that tax audit resolutions could reduce unrecognized tax benefits by an immaterial amount, either because the tax positions are sustained on audit or because the Company agrees to their disallowance. The Company is focused on resolving tax audits as expeditiously as possible. As a result of these efforts, unrecognized tax benefits could potentially be reduced beyond the provided range during the next twelve months. The Company does not expect any change to have a material impact to its Consolidated Financial Statements. The Company remains subject to income tax examinations for its U.S. federal income taxes generally for fiscal 2014, and 2018 through 2021. The Company also remains subject to income tax examinations for international income taxes for fiscal 2013 through 2021, and for U.S. state and local income taxes generally for the fiscal years ended 2013 through 2021. With few exceptions, the Company is no longer subject to U.S. federal, state, local, or foreign examinations by tax authorities for years before fiscal 2012. Other Taxes The Company is subject to tax examinations for value added, sales-based, payroll and other non-income taxes. A number of these examinations are ongoing in various jurisdictions. In certain cases, the Company has received assessments from the respective taxing authorities in connection with these examinations. Unless otherwise indicated, the possible losses or range of possible losses associated with these matters are individually immaterial, but a group of related matters, if decided adversely to the Company, could result in a liability material to the Company's Consolidated Financial Statements.
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Contingencies |
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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 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 to or settled by the Company, individually or in the aggregate, may result in a liability material to the Company's financial position, results of operations or cash flows. Asda Equal Value Claims Asda, a wholly-owned subsidiary of the Company which was sold in February 2021, is a defendant in over 40,000 "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 is awaiting a decision from the Supreme Court of the U.K. Notwithstanding the appeal, claimants are now 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. 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. Following the sale of Asda described in Note 12, the Company will continue to conduct the defense of these claims. While potential liability for these claims remains with Asda, the Company has agreed to provide indemnification with respect to these claims up to a contractually determined amount. Opioids Litigation In December 2017, the United States 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 payers, asserting claims generally concerning the impacts of widespread opioid abuse. The consolidated multidistrict litigation is entitled In re National Prescription Opiate Litigation (MDL No. 2804), and 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 in the U.S. District Court for the Eastern District of Texas against the U.S. Department of Justice (the “DOJ”) 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 “CSA”). The Company’s action was dismissed and the Company is appealing the decision. On December 22, 2020, the DOJ filed a civil complaint in the U.S. District Court for the District of Delaware alleging that the Company unlawfully dispensed controlled substances from its pharmacies and unlawfully distributed controlled substances to those pharmacies. The complaint alleges that this conduct resulted in violations of the CSA. The DOJ is seeking civil penalties and injunctive relief. The Company filed a motion to dismiss the DOJ complaint on February 22, 2021. In addition, the Company is the subject of two securities class actions alleging violations of the federal securities laws regarding the Company’s disclosures with respect to opioids, filed in the U.S. District Court for the District of Delaware on January 20, 2021 and March 5, 2021 purportedly on behalf of a class of investors who acquired Walmart stock from March 30, 2016 through December 22, 2020. A derivative action was also filed by one of the Company's shareholders in the U.S. District Court for the District of Delaware on February 9, 2021 alleging breach of fiduciary duties against certain of its current and former directors with respect to oversight of the Company’s distribution and dispensing of opioids. The Company cannot reasonably estimate any loss or range of loss that may arise from the various Opioids Litigation and intends to vigorously defend these litigation 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.
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Retirement-Related Benefits |
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Retirement Benefits [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retirement-Related Benefits | Retirement-Related Benefits The Company offers a 401(k) plan for associates in the U.S. under which eligible associates can begin contributing to the plan immediately upon hire. The Company also offers a 401(k) type plan for associates in Puerto Rico under which associates can begin to contribute generally after one year of employment. Under these plans, after one year of employment, the Company matches 100% of participant contributions up to 6% of annual eligible earnings. The matching contributions immediately vest at 100% for each associate. Participants can contribute up to 50% of their pre-tax earnings, but not more than the statutory limits. Associates in international countries who are not U.S. citizens are covered by various defined contribution post-employment benefit arrangements. These plans are administered based upon the legislative and tax requirements in the countries in which they are established. The following table summarizes the contribution expense related to the Company's defined contribution plans for fiscal 2021, 2020 and 2019:
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Disposals, Acquisitions and Related Items |
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Acquisitions, Disposals, and Related Items [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disposals, Acquisitions and Related Items | Disposals, Acquisitions and Related Items The following disposals and acquisitions impact the Company's Walmart International segment. Walmart Argentina In November 2020, the Company completed the sale of Walmart Argentina. As a result, the Company recorded a pre-tax loss of $1.0 billion in the third quarter of fiscal 2021 in other gains and losses in its Consolidated Statement of Income primarily due to the impact of cumulative translation losses on the carrying value of the disposal group. Asda In October 2020, the Company agreed to sell Asda, the Company’s retail operations in the U.K., for net consideration of $9.4 billion, which was classified as held for sale in the Consolidated Balance Sheet as of January 31, 2021. Under the terms of the agreement, the Company agreed to indemnify the buyer for certain legal and tax matters and will retain an investment in Asda that will be accounted for as a debt security. As a result, the Company recognized an estimated pre-tax loss of $5.5 billion in other gains and losses in its Consolidated Statement of Income in the fourth quarter of fiscal 2021. In calculating the loss, the fair value of the disposal group was reduced by approximately $0.8 billion related to the estimated fair value of certain indemnities and other transaction related costs. The Company completed the sale in February 2021, and will deconsolidate the financial statements of Asda in the first quarter of fiscal 2022 and begin recognizing immaterial interest income related to its debt security. In October 2019, Asda, Walmart, and the Trustee of the Plan entered into an agreement which provides for the issuance of individual annuity contracts to each Plan participant and will release the Plan and Asda from any future obligations. Upon classifying the Asda disposal group as held for sale, $2.3 billion of accumulated pension components associated with the expected derecognition of the Asda pension plan were included as part of the loss mentioned above, which will be reclassified from accumulated other comprehensive loss upon completion of the sale in February 2021. Seiyu In November 2020, the Company agreed to sell Seiyu, the Company's retail operations in Japan, for net consideration of $1.2 billion, which was classified as held for sale in the Consolidated Balance Sheet as of January 31, 2021. As a result, the Company recognized an estimated pre-tax loss of $1.9 billion in other gains and losses in its Consolidated Statement of Income in the fourth quarter of fiscal 2021. The sale was completed in March 2021 and the Company will deconsolidate the financial statements of Seiyu in the first quarter of fiscal 2022 and account for its retained 15 percent ownership interest as an equity investment. Assets and liabilities held for sale associated with the Asda and Seiyu disposal groups as of January 31, 2021 were as follows:
(1)Includes inventories, receivables, net and prepaid expenses and other. (2)Includes the $2.3 billion loss associated with the derecognition of the Asda pension plan and $1.3 billion cumulative foreign currency and related net investment hedge and other impacts included within the disposal groups, which will be reclassified from accumulated other comprehensive loss upon closure of each transaction. (3)Includes accounts payable and accrued liabilities. Walmart Brazil In August 2018, the Company sold an 80 percent stake of Walmart Brazil to Advent International ("Advent"). Under the terms of the sale, Advent agreed to contribute additional capital to the business over a three-year period and Walmart agreed to indemnify Advent for certain matters. As a result, the Company recorded a pre-tax net loss of $4.8 billion during fiscal 2019 in other gains and losses in the Company's Consolidated Statement of Income. Substantially all of this charge was recorded during the second quarter of fiscal 2019 upon meeting the held for sale criteria. In calculating the loss, the fair value of the disposal group was reduced by $0.8 billion related to an indemnity, for which a liability was recognized upon closing and is recorded in deferred income taxes and other in the Company's Consolidated Balance Sheets. Under the indemnity, the Company will indemnify Advent for certain pre-closing tax and legal contingencies and other matters for up to R$2.3 billion, adjusted for interest based on the Brazilian interbank deposit rate. The Company deconsolidated the financial statements of Walmart Brazil during the third quarter of fiscal 2019 and began accounting for its remaining 20 percent ownership interest using the equity method of accounting. This equity method investment was determined to have no fair value and continues to have no carrying value. Flipkart In August 2018, the Company acquired 81 percent of the outstanding shares, or 77 percent of the diluted shares, of Flipkart, an eCommerce marketplace in India, for cash consideration of approximately $16 billion. The acquisition increases the Company's investment in India, a large, growing economy. In the second quarter of fiscal 2020, the Company finalized the valuation of assets acquired and liabilities assumed for the Flipkart acquisition as follows: •Assets of $24.1 billion, which comprise primarily of $2.2 billion in cash and cash equivalents, $2.8 billion in other current assets, $5.0 billion in intangible assets and $13.5 billion in goodwill. Of the intangible assets, $4.7 billion represents the fair value of trade names, each with an indefinite life, which were estimated using the income approach based on Level 3 unobservable inputs. The remaining $0.3 billion of intangible assets primarily relate to acquired technology with a life of 3 years. The goodwill arising from the acquisition consists largely of anticipated synergies and economies of scale primarily related to procurement and logistics and is not expected to be deductible for tax purposes; •Liabilities of $3.7 billion, which comprise primarily of $1.8 billion of current liabilities and $1.7 billion of deferred income taxes; and •Noncontrolling interest of $4.3 billion, for which the fair value was estimated using the income approach based on Level 3 unobservable inputs. The Company began consolidating the financial statements of Flipkart in the third quarter of fiscal 2019, using a one-month lag. To finance the acquisition, the Company used a combination of cash provided by long-term debt as discussed in Note 6 and cash on hand. The Flipkart results of operations since acquisition and the pro forma financial information are immaterial.
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Segments and Disaggregated Revenue |
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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 and other units, as well as eCommerce websites, located throughout the U.S., Africa, Canada, Central America, Chile, China, India and Mexico. The Company also engaged in operations in Japan and the United Kingdom, both of which were classified as held for sale as of January 31, 2021, and subsequently sold in February 2021 and March 2021, respectively. The Company also operated in Argentina prior to the sale of Walmart Argentina in November 2020 and in Brazil prior to sale of the majority stake of Walmart Brazil in fiscal 2019. Refer to Note 12 for discussion of recent divestitures. 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 impracticable to segregate and identify revenues for each of these individual products and services. The Walmart U.S. segment includes the Company's mass merchant 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 eCommerce 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. 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. Information for the Company's segments, as well as for Corporate and support, including the reconciliation to income before income taxes, is provided in the following table:
Total revenues, consisting of net sales and membership and other income, and long-lived assets, consisting primarily of property and equipment, net and lease right-of-use assets, aggregated by the Company's U.S. and non-U.S. operations for fiscal 2021, 2020 and 2019, are as follows:
No individual country outside of the U.S. had total revenues or long-lived assets that were material to the consolidated totals. Long-lived assets related to operations classified as held for sale are excluded from the table above. Additionally, the Company did not generate material revenues from any single customer. Disaggregated Revenues In the following tables, segment net sales are disaggregated by either merchandise category or market. 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.
Of Walmart U.S.'s total net sales, approximately $43.0 billion and $24.1 billion related to eCommerce for fiscal 2021 and fiscal 2020, respectively.
Of Walmart International's total net sales, approximately $16.6 billion and $11.8 billion related to eCommerce for fiscal 2021 and fiscal 2020, respectively.
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Subsequent Event |
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Jan. 31, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Events [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Event | Subsequent Event Dividends Declared The Board of Directors approved, effective February 18, 2021, the fiscal 2022 annual dividend of $2.20 per share, an increase over the fiscal 2021 dividend of $2.16 per share. For fiscal 2022, the annual dividend will be paid in four quarterly installments of $0.55 per share, according to the following record and payable dates:
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Summary of Significant Accounting Policies (Policies) |
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Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principles of Consolidation | Principles of Consolidation The Consolidated Financial Statements include the accounts of Walmart and its subsidiaries as of and for the fiscal years ended January 31, 2021 ("fiscal 2021"), January 31, 2020 ("fiscal 2020") and January 31, 2019 ("fiscal 2019"). Intercompany accounts and transactions have been eliminated in consolidation. The Company consolidates variable interest entities where it has been determined that the Company is the primary beneficiary of those entities' operations. Investments for which the Company exercises significant influence but does not have control are accounted for under the equity method. These variable interest entities and equity method investments are immaterial to the Company's Consolidated Financial Statements. The Company's Consolidated Financial Statements are based on a fiscal year ending on 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 January 2021 related to the operations consolidated using a lag that materially affected the Consolidated Financial Statements.
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Use of Estimates | Use of Estimates The Consolidated Financial Statements have been prepared in conformity with U.S. generally accepted accounting principles. 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 from those estimates.
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Cash and Cash Equivalents | Cash and Cash EquivalentsThe Company considers investments with a maturity when purchased of three months or less to be cash equivalents. All credit card, debit card and electronic transfer transactions that process in less than seven days are classified as cash and cash equivalents. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Receivables | Receivables Receivables are stated at their carrying values, net of a reserve for doubtful accounts, 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. As of January 31, 2021 and January 31, 2020, receivables from transactions with customers, net were $2.7 billion and $2.9 billion, respectively.
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Inventories | Inventories The Company values inventories at the lower of cost or market as determined primarily by the retail inventory method of accounting, using the last-in, first-out ("LIFO") method for the Walmart U.S. segment's inventories. The inventory for the Walmart International segment is valued primarily by the retail inventory method of accounting, using the first-in, first-out ("FIFO") method. The retail inventory method of accounting results in inventory being valued at the lower of cost or market, since permanent markdowns are immediately recorded as a reduction of the retail value of inventory. The inventory at the Sam's Club segment is valued using the weighted-average cost LIFO method. As of January 31, 2021 and January 31, 2020, the Company's inventories valued at LIFO approximated those inventories as if they were valued at FIFO.
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Held for Sale | Held for SaleComponents and businesses that meet accounting requirements to be classified as held for sale are presented as single asset and liability amounts in the Company's financial statements with a valuation allowance, if necessary, to recognize the net carrying amount at the lower of cost or fair value, less costs to sell. The Company reviews its businesses and assets held for sale each reporting period to determine whether the existing carrying amounts are fully recoverable in comparison to estimated fair values. As of January 31, 2021, $19.2 billion assets held for sale and $12.7 billion liabilities held for sale were classified in prepaid expenses and other and accrued liabilities in the Consolidated Balance Sheets, respectively, reflecting the Company's operations in the U.K. and Japan classified as held for sale. Refer to Note 12 for additional details. As of January 31, 2020, assets and liabilities held for sale were immaterial. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Property and Equipment | Property and Equipment Property and equipment are initially recorded at cost. Gains or losses on disposition are recognized as earned or incurred. Costs of major improvements are capitalized, while costs of normal repairs and maintenance are expensed as incurred. The following table summarizes the Company's property and equipment balances, and includes the estimated useful lives that are generally used to depreciate the assets on a straight-line basis:
Leasehold improvements are depreciated or amortized over the shorter of the estimated useful life of the asset or the remaining expected lease term. Total depreciation and amortization expense for property and equipment, property under finance leases and financing obligations, property under capital leases and intangible assets for fiscal 2021, 2020 and 2019 was $11.2 billion, $11.0 billion and $10.7 billion, respectively.
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Leases | Leases For any new or modified lease, the Company, at the inception of the contract, determines whether a contract is or contains a lease. The Company records right-of-use ("ROU") assets and lease obligations for its finance and operating leases, which are initially recognized based on the discounted future lease payments over the term of the lease. As the rate implicit in the Company's leases is not easily determinable, the Company’s applicable incremental borrowing rate is used in calculating the present value of the sum of the lease payments. Lease term is defined as the non-cancelable period of the lease plus any options to extend or terminate the lease when it is reasonably certain that the Company will exercise the option. The Company has elected not to recognize ROU asset and lease obligations for its short-term leases, which are defined as leases with an initial term of 12 months or less. For a majority of all classes of underlying assets, the Company has elected to not separate lease from non-lease components. For leases in which the lease and non-lease components have been combined, the variable lease expense includes expenses such as common area maintenance, utilities, and repairs and maintenance.
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Impairment of Long-Lived Assets | Impairment of Long-Lived AssetsManagement reviews long-lived assets for indicators of impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. The evaluation is performed at the lowest level of identifiable cash flows, which is at the individual store or club level. Undiscounted cash flows expected to be generated by the related assets are estimated over the assets' useful lives based on updated projections. If the evaluation indicates that the carrying amount of the assets may not be recoverable, any potential impairment is measured based upon the fair value of the related asset or asset group as determined by an appropriate market appraisal or other valuation technique. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill and Other Acquired Intangible Assets | Goodwill and Other Acquired Intangible Assets Goodwill represents the excess of the purchase price over the fair value of net assets acquired in business combinations and is allocated to the appropriate reporting unit when acquired. Other acquired intangible assets are stated at the fair value acquired as determined by a valuation technique commensurate with the intended use of the related asset. Goodwill and indefinite-lived intangible assets are not amortized; rather, they are evaluated for impairment annually and whenever events or changes in circumstances indicate that the value of the asset may be impaired. Definite-lived intangible assets are considered long-lived assets and are amortized on a straight-line basis over the periods that expected economic benefits will be provided. Goodwill is assigned to the reporting unit which consolidates the acquisition. Components within the same reportable segment are aggregated and deemed a single reporting unit if the components have similar economic characteristics. As of January 31, 2021, the Company's reporting units consisted of Walmart U.S., Walmart International and Sam's Club. Goodwill is evaluated for impairment using either a qualitative or quantitative approach for each of the Company's reporting units. Generally, a qualitative assessment is first performed to determine whether a quantitative goodwill impairment test is necessary. If management determines, after performing an assessment based on the qualitative factors, that the fair value of the reporting unit is more likely than not less than the carrying amount, or that a fair value of the reporting unit substantially in excess of the carrying amount cannot be assured, then a quantitative goodwill impairment test would be required. The quantitative test for goodwill impairment is performed by determining the fair value of the related reporting units. Fair value is measured based on the discounted cash flow method and relative market-based approaches. After evaluation, management determined the fair value of each reporting unit is significantly greater than the carrying amount and, accordingly, the Company has not recorded any impairment charges related to goodwill.
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Fair Value Measurement | Fair Value Measurement The Company records and discloses certain financial and non-financial assets and liabilities at 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. The fair value of a liability is 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. Refer to Note 8 for more information. Additionally, the Company may provide routine indemnifications in connection with certain transactions, primarily divestitures, for which an indemnification liability equal to the estimated fair value of the obligation is recorded upon inception. Where necessary, these obligations are recorded at their fair value within deferred income taxes and other in the Consolidated Balance Sheets.
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Investments | Investments Investments in equity securities with readily determinable fair values are recorded at fair value in other long-term assets in the Consolidated Balance Sheets with changes in fair value recognized in other gains and losses in the Consolidated Statements of Income. Refer to Note 8 for details. Equity investments without readily determinable fair values are carried at cost in other long-term assets in the Consolidated Balance Sheets, and adjusted for any observable price changes or impairments recorded in other gains and losses in the Consolidated Statements of Income. Investments in debt securities classified as held-to-maturity are reported at amortized cost in other long-term assets in the Consolidated Balance Sheets with interest or dividend income recorded in interest income in the Consolidated Statements of Income.
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Self Insurance Reserves | Self Insurance Reserves The Company self-insures a number of risks, including, but not limited to, workers' compensation, general liability, auto liability, product liability and certain employee-related healthcare benefits. Standard actuarial procedures and data analysis are used to estimate the liabilities associated with these risks as of the balance sheet date on an undiscounted basis. The recorded liabilities reflect the ultimate cost for claims incurred but not paid and any estimable administrative run-out expenses related to the processing of these outstanding claim payments. On a regular basis, the liabilities are evaluated for appropriateness with claims reserve valuations. To limit exposure to some risks, the Company maintains insurance coverage with varying limits and retentions, including stop-loss insurance coverage for workers' compensation, general liability and auto liability.
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Derivatives | Derivatives The Company uses derivatives for hedging purposes to manage its exposure to changes in interest and currency exchange rates, as well as to maintain an appropriate mix of fixed- and variable-rate debt. Use of derivatives in hedging programs subjects the Company to certain risks, such as market and credit risks. The Company may be exposed to credit-related losses in the event of nonperformance by its counterparties to derivatives. Credit risk is monitored through established approval procedures, including setting concentration limits by counterparty, reviewing credit ratings and requiring collateral from the counterparty. The Company enters into derivatives with counterparties rated only "A-" or better by nationally recognized credit rating agencies. The Company is subject to master netting arrangements which provides set-off and close out netting of exposures with counterparties, but the Company does not offset derivative assets and liabilities in its Consolidated Balance Sheets. The Company’s collateral arrangements require the counterparty in a net liability position in excess of pre-determined thresholds, after considering the effects of netting arrangements, to pledge cash collateral. Cash collateral received under these arrangements was not significant as of January 31, 2021 and 2020. The Company was not required to provide any cash collateral to counterparties as of January 31, 2021 and 2020. In order to qualify for hedge accounting, at the inception of the hedging relationship, the Company formally documents its risk management objective and strategy for undertaking the hedging transaction, as well as its designation of the hedge. If a derivative is recorded using hedge accounting, depending on the nature of the hedge, derivative gains and losses are recorded through the same financial statement line item in earnings or are recognized in accumulated other comprehensive loss until the hedged item is recognized in earnings. Derivatives that do not meet the criteria for hedge accounting, or contracts for which the Company has not elected hedge accounting, are recorded at fair value with unrealized gains or losses reported in earnings. Derivatives with an unrealized gain are recorded in the Company's Consolidated Balance Sheets as either current or non-current assets, based on maturity date, and derivatives with an unrealized loss are recorded as either current or non-current liabilities, based on maturity date. Refer to Note 8 for the presentation of the Company's derivative assets and liabilities. Fair Value Hedges The Company is a party to receive fixed-rate, pay variable-rate interest rate swaps that the Company uses to hedge the fair value of fixed-rate debt. All interest rate swaps designated as fair value hedges of the related long-term debt meet the shortcut method requirements under U.S. GAAP. Accordingly, changes in the fair values of these interest rate swaps are considered to exactly offset changes in the fair value of the underlying long-term debt. These derivatives will mature on dates ranging from April 2023 to April 2024. Cash Flow Hedges The Company is a party to receive fixed-rate, pay fixed-rate cross currency interest rate swaps used to hedge the currency exposure associated with the forecasted payments of principal and interest of certain non-U.S. denominated debt. The Company records changes in the fair value of these swaps in accumulated other comprehensive loss which is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. These derivatives will mature on dates ranging from April 2022 to March 2034. Net Investment Hedges The Company is a party to receive fixed-rate, pay fixed-rate cross currency interest rate swaps used to hedge the currency exposure associated with net investments of certain of its foreign operations. The Company records changes in fair value attributable to the hedged risk in accumulated other comprehensive loss. These derivatives, which relate to the Company's operations in the United Kingdom held for sale as of January 31, 2021, have maturity dates ranging from October 2023 to February 2030. The Company also designated certain foreign currency denominated long-term debt as a hedge of currency exposure associated with the net investment of the Company's operations in the United Kingdom and Japan, both of which were classified as held for sale as of January 31, 2021. The Company records foreign currency gain or loss associated with designated long-term debt in accumulated other comprehensive loss. As of January 31, 2021 and 2020, the Company had $3.3 billion and $3.9 billion, respectively, of outstanding long-term debt designated as net investment hedges. These derivative and non-derivative gains or losses continue to defer in accumulated other comprehensive loss until the sale or substantial liquidation of these foreign operations. Refer to Note 12 for additional detail regarding the divestiture of the Company's operations in the United Kingdom and Japan.
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Income Taxes | Income Taxes Income taxes are accounted for under the balance sheet method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases ("temporary differences"). Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rate is recognized in income in the period that includes the enactment date. Deferred tax assets are evaluated for future realization and reduced by a valuation allowance to the extent that a portion is not more likely than not to be realized. Many factors are considered when assessing whether it is more likely than not that the deferred tax assets will be realized, including recent cumulative earnings, expectations of future taxable income, carryforward periods, and other relevant quantitative and qualitative factors. The recoverability of the deferred tax assets is evaluated by assessing the adequacy of future expected taxable income from all sources, including reversal of taxable temporary differences, forecasted operating earnings and available tax planning strategies. These sources of income rely on estimates. The Tax Cuts and Jobs Act of 2017 (the "Tax Act") contains a provision which subjects a U.S. parent of a foreign subsidiary to current U.S. tax on its global intangible low–taxed income (“GILTI”). The GILTI income is eligible for a deduction, which lowers the effective tax rate to 10.5% for calendar years 2018 through 2025 and 13.125% after 2025. The Company will report the tax impact of GILTI as a period cost when incurred. Accordingly, the Company is not providing deferred taxes for basis differences expected to reverse as GILTI. In determining the provision for income taxes, an annual effective income tax rate is used based on annual income, permanent differences between book and tax income, and statutory income tax rates. Discrete events such as audit settlements or changes in tax laws are recognized in the period in which they occur. The Company records a liability for unrecognized tax benefits resulting from uncertain tax positions taken or expected to be taken in a tax return. The Company records interest and penalties related to unrecognized tax benefits in interest expense and operating, selling, general and administrative expenses, respectively, in the Company's Consolidated Statements of Income. Refer to Note 9 for additional income tax disclosures.
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Revenue Recognition | Revenue Recognition Net Sales The Company recognizes sales revenue, net of sales taxes and estimated sales returns, at the time it sells merchandise or services to the customer. eCommerce sales include shipping revenue and are recorded upon delivery to the customer. Estimated sales returns are calculated based on expected returns. Membership Fee Revenue The Company recognizes membership fee revenue both in the U.S. and internationally over the term of the membership, which is typically 12 months. Membership fee revenue was $1.7 billion for fiscal 2021, $1.5 billion for fiscal 2020 and $1.4 billion for fiscal 2019, respectively. Membership fee revenue is included in membership and other income in the Company's Consolidated Statements of Income. Deferred membership fee revenue is included in accrued liabilities in the Company's Consolidated Balance Sheets. Gift Cards Customer purchases of gift cards are not recognized as sales until the card is redeemed and the customer purchases merchandise using the gift card. Gift cards in the U.S. and some countries do not carry an expiration date; therefore, customers and members can redeem their gift cards for merchandise and services indefinitely. Gift cards in some countries where the Company does business have expiration dates. While gift cards are generally redeemed within 12 months, a certain number of gift cards, both with and without expiration dates, will not be fully redeemed. Management estimates unredeemed balances and recognizes revenue for these amounts in membership and other income in the Company's Consolidated Statements of Income over the expected redemption period. Financial and Other Services The Company recognizes revenue from service transactions at the time the service is performed. Generally, revenue from services is classified as a component of net sales in the Company's Consolidated Statements of Income.
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Cost of Sales | Cost of Sales Cost of sales includes actual product cost, the cost of transportation to the Company's distribution facilities, stores and clubs from suppliers, the cost of transportation from the Company's distribution facilities to the stores, clubs and customers and the cost of warehousing for the Sam's Club segment and import distribution centers. Cost of sales is reduced by supplier payments that are not a reimbursement of specific, incremental and identifiable costs.
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Payments from Suppliers | Payments from Suppliers The Company receives consideration from suppliers for various programs, primarily volume incentives, warehouse allowances and reimbursements for specific programs such as markdowns, margin protection, advertising and supplier-specific fixtures. Payments from suppliers are accounted for as a reduction of cost of sales, except in certain limited situations when the payment is a reimbursement of specific, incremental and identifiable costs, and are recognized in the Company's Consolidated Statements of Income when the related inventory is sold.
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Operating, Selling, General and Administrative Expenses | Operating, Selling, General and Administrative Expenses Operating, selling, general and administrative expenses include all operating costs of the Company, except cost of sales, as described above. As a result, the majority of the cost of warehousing and occupancy for the Walmart U.S. and Walmart International segments' distribution facilities is included in operating, selling, general and administrative expenses. Because the Company only includes a portion of the cost of its Walmart U.S. and Walmart International segments' distribution facilities in cost of sales, its gross profit and gross profit as a percentage of net sales may not be comparable to those of other retailers that may include all costs related to their distribution facilities in cost of sales and in the calculation of gross profit.
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Advertising Costs | Advertising Costs Advertising costs are expensed as incurred, consist primarily of print, television and digital advertisements and are recorded in operating, selling, general and administrative expenses in the Company's Consolidated Statements of Income. In certain limited situations, reimbursements from suppliers that are for specific, incremental and identifiable advertising costs are recognized as a reduction of advertising costs in operating, selling, general and administrative expenses. Advertising costs were $3.2 billion, $3.7 billion and $3.5 billion for fiscal 2021, 2020 and 2019, respectively.
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Currency Translation | Currency Translation The assets and liabilities of all international subsidiaries are translated from the respective local currency to the U.S. dollar using exchange rates at the balance sheet date. Related translation adjustments are recorded as a component of accumulated other comprehensive loss. The Company's Consolidated Statements of Income of all international subsidiaries are translated from the respective local currencies to the U.S. dollar using average exchange rates for the period covered by the income statements.
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Recent Accounting Pronouncements | Recent Accounting Pronouncements Financial Instruments In June 2016, the FASB issued 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 Consolidated Financial Statements.
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Summary of Significant Accounting Policies (Tables) |
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Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Property, plant and equipment | The following table summarizes the Company's property and equipment balances, and includes the estimated useful lives that are generally used to depreciate the assets on a straight-line basis:
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Schedule of goodwill | The following table reflects goodwill activity, by reportable segment, for fiscal 2021 and 2020:
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Net Income Per Common Share (Tables) |
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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:
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Shareholders' Equity (Tables) |
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Equity [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of share-based compensation expense by award type | The following table summarizes the Company's share-based compensation expense by award type for all plans:
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Schedule of restricted stock and performance share awards and restricted stock rights activity | The following table shows the activity for restricted stock units and restricted stock and performance-based restricted stock units during fiscal 2021:
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Schedule of restricted stock and performance based restricted stock | The following table includes additional information related to restricted stock units and restricted stock and performance-based restricted stock units:
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Schedule of company's share repurchases | The following table provides, on a settlement date basis, the number of shares repurchased, average price paid per share and total amount paid for share repurchases for fiscal 2021, 2020 and 2019:
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Accumulated Other Comprehensive Loss (Tables) |
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Composition of accumulated other comprehensive income (loss) | The following table provides the changes in the composition of total accumulated other comprehensive loss for fiscal 2021, 2020, and 2019:
(1) Primarily relates to the adoption of ASU 2016-01 and ASU 2018-02, Income Statement–Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. (2) Includes a cumulative foreign currency translation loss of $2.0 billion, for which there was no related income taxes, upon sale of the majority stake in Walmart Brazil. Refer to Note 12. (3) Primarily includes the remeasurement of Asda Group Limited's ("Asda") pension benefit obligation subsequent to the cash contribution made by Asda in fiscal 2020. Refer to Note 11. (4) Includes a cumulative foreign currency translation loss of $0.8 billion, for which there was no related income taxes, upon sale of the majority stake in Walmart Argentina. Refer to Note 12.
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Accrued Liabilities (Tables) |
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Jan. 31, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued Liabilities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of accrued liabilities | The Company's accrued liabilities consist of the following as of January 31, 2021 and 2020:
(1)Liabilities held for sale relate to the Company's operations in Japan and the U.K. classified as held for sale as of January 31, 2021. See Note 12. (2)Accrued wages and benefits include accrued wages, salaries, vacation, bonuses and other incentive plans. (3)Self-insurance consists of insurance-related liabilities, such as workers' compensation, general liability, auto liability, product liability and certain employee-related healthcare benefits. (4)Accrued non-income taxes include accrued payroll, property, value-added, sales and miscellaneous other taxes. (5)Other accrued liabilities consist of various items such as interest, maintenance, utilities, legal contingencies, and advertising.
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Short-term Borrowings and Long-term Debt (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jan. 31, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term Debt, Unclassified [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of line of credit facilities | The Company has various committed lines of credit in the U.S. to support its commercial paper program and are summarized in the following table:
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Schedule of long-term debt instruments | The Company's long-term debt, which includes the fair value instruments further discussed in Note 8, consists of the following as of January 31, 2021 and 2020:
(1)The average rate represents the weighted-average stated rate for each corresponding debt category, based on year-end balances and year-end interest rates. (2)Includes deferred loan costs, discounts, fair value hedges, foreign-held debt and secured debt.
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Schedule of maturities of long-term debt | Annual maturities of long-term debt during the next five years and thereafter are as follows:
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Schedule of fiscal 2020 debt issuances | Information on long-term debt issued during fiscal 2020, for general corporate purposes, is as follows:
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Schedule of fiscal 2021 and fiscal 2020 debt maturities | The following table provides details of debt repayments during fiscal 2021:
The following table provides details of debt repayments during fiscal 2020:
(1) Includes repayments of smaller long-term debt as it matured in several non-U.S. operations.
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Leases (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jan. 31, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Lease, cost | The Company's lease costs recognized in the Consolidated Statement of Income consist of the following:
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Schedule of other information relating to lease liabilities | Other lease information is as follows:
(1) For fiscal 2021, weighted average remaining lease term and discount rate amounts exclude operations classified as held for sale.
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Lessee operating liability maturity | The aggregate annual lease obligations at January 31, 2021, are as follows:
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Lessee finance liability maturity | The aggregate annual lease obligations at January 31, 2021, are as follows:
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Fair Value Measurements (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jan. 31, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value measurements recurring and nonrecurring | The fair value of the Company's equity investments with readily determinable fair values are as follows:
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Notional amounts and fair values of derivatives | As of January 31, 2021 and January 31, 2020, the notional amounts and fair values of these derivatives were as follows:
(1)Classified in other long-term assets within the Company's Consolidated Balance Sheets. (2)Classified in deferred income taxes and other within the Company's Consolidated Balance Sheets. (3)Approximately $456 million of cash flow hedges were classified in deferred income taxes and other and $62 million of cash flow were classified in other long-term assets in the Company's Consolidated Balance Sheets.
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Carrying value and fair value of long-term debt | The carrying value and fair value of the Company's long-term debt as of January 31, 2021 and 2020, are as follows:
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Taxes (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jan. 31, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income Tax Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of income before income taxes | The components of income (loss) before income taxes are as follows:
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Schedule of income tax provision | A summary of the provision for income taxes is as follows:
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Schedule of income tax rate | A reconciliation of the significant differences between the U.S. statutory tax rate and the effective income tax rate on pre-tax income from continuing operations is as follows:
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Schedule of deferred tax balances | The significant components of the Company's deferred tax account balances are as follows:
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Schedule of deferred tax classification in the balance sheet | The deferred taxes noted above are classified as follows in the Company's Consolidated Balance Sheets:
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Reconciliation of unrecognized tax benefits from continuing operations | A reconciliation of gross unrecognized tax benefits from continuing operations is as follows:
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Retirement-Related Benefits (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jan. 31, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retirement Benefits [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of contribution expense related to defined contribution plans | The following table summarizes the contribution expense related to the Company's defined contribution plans for fiscal 2021, 2020 and 2019:
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Disposals, Acquisitions and Related Items (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jan. 31, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisitions, Disposals, and Related Items [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets and liabilities held for sale with disposal group | Assets and liabilities held for sale associated with the Asda and Seiyu disposal groups as of January 31, 2021 were as follows:
(1)Includes inventories, receivables, net and prepaid expenses and other. (2)Includes the $2.3 billion loss associated with the derecognition of the Asda pension plan and $1.3 billion cumulative foreign currency and related net investment hedge and other impacts included within the disposal groups, which will be reclassified from accumulated other comprehensive loss upon closure of each transaction. (3)Includes accounts payable and accrued liabilities.
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Segments and Disaggregated Revenue (Tables) |
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Jan. 31, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment revenues and long-lived assets | Information for the Company's segments, as well as for Corporate and support, including the reconciliation to income before income taxes, is provided in the following table:
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Schedule of revenue from external customers and long-lived assets by geographical areas | Total revenues, consisting of net sales and membership and other income, and long-lived assets, consisting primarily of property and equipment, net and lease right-of-use assets, aggregated by the Company's U.S. and non-U.S. operations for fiscal 2021, 2020 and 2019, are as follows:
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Walmart U S [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disaggregation of revenue |
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Walmart International [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disaggregation of revenue |
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Sams Club [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disaggregation of revenue |
|
Subsequent Event (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jan. 31, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Events [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of dividends payable | For fiscal 2022, the annual dividend will be paid in four quarterly installments of $0.55 per share, according to the following record and payable dates:
|
Summary of Significant Accounting Policies (Narrative) (Details) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Jan. 31, 2021
USD ($)
segment
|
Jan. 31, 2020
USD ($)
|
Jan. 31, 2019
USD ($)
|
|
Accounting Policies [Line Items] | |||
Number of reportable segments | segment | 3 | ||
Cash and cash equivalents | $ 17,741 | $ 9,465 | |
Percentage of cash and cash equivalents | 40.00% | 80.00% | |
Receivables from transactions with customers, net | $ 2,700 | $ 2,900 | |
Liabilities for sale | 12,734 | 0 | |
Depreciation and amortization | 11,152 | 10,987 | $ 10,678 |
Indefinite-lived intangible assets (excluding goodwill) | $ 4,900 | 5,200 | |
Impairment of intangible assets (excluding goodwill) | 700 | ||
Global intangible low-taxed income, 2018 through 2025 | 10.50% | ||
Global intangible low-taxed income, 2025 thereafter | 13.125% | ||
Membership fee revenue | $ 3,918 | 4,038 | 4,076 |
Advertising expense | 3,200 | 3,700 | 3,500 |
Membership Fees [Member] | |||
Accounting Policies [Line Items] | |||
Membership fee revenue | 1,700 | 1,500 | $ 1,400 |
Amounts Due from Banks [Member] | |||
Accounting Policies [Line Items] | |||
Cash and cash equivalents | 4,100 | 1,700 | |
Nonrepatriable Cash and Cash Equivalents [Member] | |||
Accounting Policies [Line Items] | |||
Cash and cash equivalents | 2,800 | 2,300 | |
Prepaid Expenses and Other [Member] | |||
Accounting Policies [Line Items] | |||
Discontinued operation, current assets | 19,200 | ||
Accrued Liabilities [Member] | |||
Accounting Policies [Line Items] | |||
Liabilities for sale | 12,700 | ||
Long-term Debt [Member] | Net Investment Hedging [Member] | |||
Accounting Policies [Line Items] | |||
Nonderivative hedging instruments | 3,300 | $ 3,900 | |
Flipkart [Member] | Nonrepatriable Cash and Cash Equivalents - Flipkart [Member] | |||
Accounting Policies [Line Items] | |||
Cash and cash equivalents | $ 1,000 |
Summary of Significant Accounting Policies (Schedule of Property, Plant and Equipment) (Details) - USD ($) $ in Millions |
12 Months Ended | |
---|---|---|
Jan. 31, 2021 |
Jan. 31, 2020 |
|
Property, Plant and Equipment [Line Items] | ||
Property and equipment | $ 180,571 | $ 195,028 |
Accumulated depreciation | (88,370) | (89,820) |
Property and equipment, net | 92,201 | 105,208 |
Land [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment | 19,308 | 24,619 |
Building and Building Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment | $ 97,582 | 105,674 |
Building and Building Improvements [Member] | Minimum | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, useful life | 3 years | |
Building and Building Improvements [Member] | Maximum | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, useful life | 40 years | |
Furniture and Fixtures [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment | $ 56,639 | 58,607 |
Furniture and Fixtures [Member] | Minimum | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, useful life | 1 year | |
Furniture and Fixtures [Member] | Maximum | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, useful life | 30 years | |
Transportation Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment | $ 2,301 | 2,377 |
Transportation Equipment [Member] | Minimum | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, useful life | 3 years | |
Transportation Equipment [Member] | Maximum | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, useful life | 15 years | |
Construction in Progress [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment | $ 4,741 | $ 3,751 |
Summary of Significant Accounting Policies (Schedule of Goodwill) (Details) - USD ($) $ in Millions |
12 Months Ended | |
---|---|---|
Jan. 31, 2021 |
Jan. 31, 2020 |
|
Goodwill [Roll Forward] | ||
Goodwill | $ 31,073 | $ 31,181 |
Changes in currency translation and other | 10 | (149) |
Acquisitions | 111 | 41 |
Amounts reclassified related to operations held for sale | (2,211) | |
Goodwill | 28,983 | 31,073 |
Walmart U S [Member] | ||
Goodwill [Roll Forward] | ||
Goodwill | 2,593 | 2,552 |
Changes in currency translation and other | 0 | 0 |
Acquisitions | 103 | 41 |
Amounts reclassified related to operations held for sale | 0 | |
Goodwill | 2,696 | 2,593 |
Walmart International [Member] | ||
Goodwill [Roll Forward] | ||
Goodwill | 28,167 | 28,316 |
Changes in currency translation and other | 10 | (149) |
Acquisitions | 0 | 0 |
Amounts reclassified related to operations held for sale | (2,211) | |
Goodwill | 25,966 | 28,167 |
Sams Club [Member] | ||
Goodwill [Roll Forward] | ||
Goodwill | 313 | 313 |
Changes in currency translation and other | 0 | 0 |
Acquisitions | 8 | 0 |
Amounts reclassified related to operations held for sale | 0 | |
Goodwill | $ 321 | $ 313 |
Net Income Per Common Share (Schedule of calculation of numerator and denominator in earnings per share) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions |
12 Months Ended | ||
---|---|---|---|
Jan. 31, 2021 |
Jan. 31, 2020 |
Jan. 31, 2019 |
|
Numerator | |||
Consolidated net income | $ 13,706 | $ 15,201 | $ 7,179 |
Consolidated net income attributable to noncontrolling interest | (196) | (320) | (509) |
Consolidated net income attributable to Walmart | $ 13,510 | $ 14,881 | $ 6,670 |
Denominator | |||
Weighted-average common shares outstanding, basic (in shares) | 2,831 | 2,850 | 2,929 |
Dilutive impact of stock options and other share-based awards (in shares) | 16 | 18 | 16 |
Weighted-average common shares outstanding, diluted (in shares) | 2,847 | 2,868 | 2,945 |
Net income per common share attributable to Walmart | |||
Basic (in USD per share) | $ 4.77 | $ 5.22 | $ 2.28 |
Diluted (in USD per share) | $ 4.75 | $ 5.19 | $ 2.26 |
Shareholders' Equity (Narrative) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions |
12 Months Ended | |||||
---|---|---|---|---|---|---|
Jan. 31, 2021 |
Jan. 31, 2020 |
Jan. 31, 2019 |
Feb. 18, 2021 |
Feb. 01, 2018 |
Oct. 31, 2017 |
|
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Common stock, par (in USD per share) | $ 0.10 | $ 0.10 | ||||
Common stock, shares authorized (in shares) | 11,000 | 11,000 | ||||
Share-based compensation expense | $ 1,169 | $ 854 | $ 773 | |||
Tax benefit | $ 300 | $ 200 | 200 | |||
Compensation awards (in shares) | 260 | |||||
Common Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Shares, issued (in shares) | 2,800 | 2,800 | ||||
Shares, outstanding (in shares) | 2,800 | 2,800 | ||||
2017 Share Repurchase Program [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Repurchase program | $ 20,000 | |||||
Repurchase amount | $ 3,000 | |||||
2021 Share Repurchase Program [Member] | Subsequent Event [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Repurchase program | $ 20,000 | |||||
Restricted Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Share-based compensation expense | $ 742 | $ 553 | $ 456 | |||
Expected dividend rate | 4.40% | 4.90% | 7.20% | |||
Performance Shares [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Expected dividend rate | 4.50% | 5.10% | 6.20% | |||
Restricted Stock And Performance Share Awards [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Share-based compensation expense | $ 277 | $ 270 | $ 293 | |||
Annual [Member] | Restricted Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Award vesting rights, percentage | 25.00% | |||||
Vesting period | 4 years | |||||
Three Years from Grant Date [Member] | Restricted Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Award vesting rights, percentage | 50.00% | |||||
Five Years from Grant Date [Member] | Restricted Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Award vesting rights, percentage | 50.00% | |||||
Minimum | Restricted Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Vesting period | 3 years | |||||
Minimum | Performance Shares [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Award vesting rights, percentage | 0.00% | |||||
Minimum | Restricted Stock And Performance Share Awards [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Vesting period | 1 year | |||||
Maximum | Restricted Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Vesting period | 5 years | |||||
Maximum | Performance Shares [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Award vesting rights, percentage | 150.00% | |||||
Maximum | Restricted Stock And Performance Share Awards [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Vesting period | 3 years |
Shareholders' Equity (Share based Compensation Expense) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Jan. 31, 2021 |
Jan. 31, 2020 |
Jan. 31, 2019 |
|
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based compensation expense | $ 1,169 | $ 854 | $ 773 |
Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based compensation expense | 742 | 553 | 456 |
Restricted Stock And Performance Share Awards [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based compensation expense | 277 | 270 | 293 |
Equity Option [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based compensation expense | $ 150 | $ 31 | $ 24 |
Shareholders' Equity (Rollforward of Activity by Award Type) (Details) shares in Thousands |
12 Months Ended |
---|---|
Jan. 31, 2021
$ / shares
shares
| |
Restricted Stock [Member] | |
Shares | |
Beginning balance (in shares) | shares | 23,261 |
Granted (in shares) | shares | 7,472 |
Adjustment for performance achievement (in shares) | shares | 0 |
Vested/exercised (in shares) | shares | (7,798) |
Forfeited (in shares) | shares | (3,035) |
Ending balance (in shares) | shares | 19,900 |
Weighted-Average Grant-Date Fair Value Per Share | |
Beginning balance (in USD per share) | $ / shares | $ 79.51 |
Granted (in USD per share) | $ / shares | 114.51 |
Adjustment for performance achievement (in USD per share) | $ / shares | 0 |
Vested/exercised (in USD per share) | $ / shares | 76.11 |
Forfeited (in USD per share) | $ / shares | 92.20 |
Ending balance (in USD per share) | $ / shares | $ 92.13 |
Restricted Stock And Performance Share Awards [Member] | |
Shares | |
Beginning balance (in shares) | shares | 6,045 |
Granted (in shares) | shares | 2,867 |
Adjustment for performance achievement (in shares) | shares | 576 |
Vested/exercised (in shares) | shares | (3,075) |
Forfeited (in shares) | shares | (1,000) |
Ending balance (in shares) | shares | 5,413 |
Weighted-Average Grant-Date Fair Value Per Share | |
Beginning balance (in USD per share) | $ / shares | $ 93.04 |
Granted (in USD per share) | $ / shares | 120.47 |
Adjustment for performance achievement (in USD per share) | $ / shares | 86.46 |
Vested/exercised (in USD per share) | $ / shares | 88.88 |
Forfeited (in USD per share) | $ / shares | 96.36 |
Ending balance (in USD per share) | $ / shares | $ 108.72 |
Shareholders' Equity (Schedule of Fair Value of Restricted Stock) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Jan. 31, 2021 |
Jan. 31, 2020 |
Jan. 31, 2019 |
|
Restricted Stock [Member] | |||
Additional information related to restricted stock and performance share awards and restricted stock units | |||
Fair value | $ 597 | $ 442 | $ 386 |
Unrecognized compensation cost | $ 1,062 | $ 1,096 | $ 1,002 |
Weighted average remaining period to expense, (years) | 1 year 1 month 6 days | 1 year 3 months 18 days | 1 year 7 months 6 days |
Restricted Stock And Performance Share Awards [Member] | |||
Additional information related to restricted stock and performance share awards and restricted stock units | |||
Fair value | $ 275 | $ 365 | $ 183 |
Unrecognized compensation cost | $ 344 | $ 326 | $ 362 |
Weighted average remaining period to expense, (years) | 1 year 4 months 24 days | 1 year 4 months 24 days | 1 year 1 month 6 days |
Shareholders' Equity (Schedule of Share Repurchases) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions |
12 Months Ended | ||
---|---|---|---|
Jan. 31, 2021 |
Jan. 31, 2020 |
Jan. 31, 2019 |
|
Equity [Abstract] | |||
Total number of shares repurchased (in shares) | 19.4 | 53.9 | 79.5 |
Average price paid per share (in USD per share) | $ 135.20 | $ 105.98 | $ 93.18 |
Total cash paid for share repurchases | $ 2,625 | $ 5,717 | $ 7,410 |
Accumulated Other Comprehensive Loss (Composition of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Jan. 31, 2021 |
Jan. 31, 2020 |
Jan. 31, 2019 |
|
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Beginning balances | $ (12,805) | $ (11,542) | $ (10,181) |
Other comprehensive income (loss) before reclassifications, net | 7 | (1,279) | (2,067) |
Reclassifications to income, net | 1,032 | 16 | 2,142 |
Ending balances | (11,766) | (12,805) | (11,542) |
Walmart Brazil [Member] | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Reclassifications to income, net | 2,000 | ||
Walmart Argentina [Member] | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Reclassifications to income, net | 800 | ||
Cumulative Effect, Period of Adoption, Adjustment [Member] | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Beginning balances | (1,436) | ||
Accumulated Currency Translation and Other Adjustments Attributable to Parent [Member] | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Beginning balances | (11,827) | (12,085) | (12,136) |
Other comprehensive income (loss) before reclassifications, net | 214 | 281 | (2,093) |
Reclassifications to income, net | 841 | (23) | 2,055 |
Ending balances | (10,772) | (11,827) | (12,085) |
Accumulated Currency Translation and Other Adjustments Attributable to Parent [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Beginning balances | 89 | ||
Accumulated Net Investment Gain Or Loss Attributable To Parent [Member] | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Beginning balances | 1,517 | 1,395 | 1,030 |
Other comprehensive income (loss) before reclassifications, net | (221) | 122 | 272 |
Reclassifications to income, net | 0 | 0 | 0 |
Ending balances | 1,296 | 1,517 | 1,395 |
Accumulated Net Investment Gain Or Loss Attributable To Parent [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Beginning balances | 93 | ||
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member] | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Beginning balances | 0 | 0 | 1,646 |
Other comprehensive income (loss) before reclassifications, net | 0 | 0 | 0 |
Reclassifications to income, net | 0 | 0 | 0 |
Ending balances | 0 | 0 | 0 |
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Beginning balances | (1,646) | ||
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member] | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Beginning balances | (539) | (140) | 122 |
Other comprehensive income (loss) before reclassifications, net | 186 | (399) | (339) |
Reclassifications to income, net | 49 | 0 | 49 |
Ending balances | (304) | (539) | (140) |
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Beginning balances | 28 | ||
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Beginning balances | (1,956) | (712) | (843) |
Other comprehensive income (loss) before reclassifications, net | (172) | (1,283) | 93 |
Reclassifications to income, net | 142 | 39 | 38 |
Ending balances | $ (1,986) | $ (1,956) | (712) |
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Beginning balances | $ 0 |
Accrued Liabilities (Schedule of Accrued Liabilities) (Details) - USD ($) $ in Millions |
Jan. 31, 2021 |
Jan. 31, 2020 |
---|---|---|
Accrued Liabilities [Abstract] | ||
Liabilities for sale | $ 12,734 | $ 0 |
Accrued wages and benefits | 7,654 | 6,093 |
Self-insurance | 4,698 | 4,469 |
Accrued non-income taxes | 3,328 | 3,039 |
Deferred gift card revenue | 2,310 | 1,990 |
Other | 7,242 | 6,705 |
Total accrued liabilities | $ 37,966 | $ 22,296 |
Short-term Borrowings and Long-term Debt (Narrative) (Details) - USD ($) $ in Millions |
Jan. 31, 2021 |
Jan. 31, 2020 |
---|---|---|
Debt Instrument [Line Items] | ||
Short-term borrowings | $ 224 | $ 575 |
Average interest rate | 1.90% | 5.00% |
Letters of credit, drawn | $ 1,800 | $ 1,600 |
Fronted and Syndicated Lines of Credit [Member] | Minimum | ||
Debt Instrument [Line Items] | ||
Commitment fee | 0.00015 | |
Fronted and Syndicated Lines of Credit [Member] | Maximum | ||
Debt Instrument [Line Items] | ||
Commitment fee | 0.00040 | |
Fronted and Syndicated Lines of Credit [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum | ||
Debt Instrument [Line Items] | ||
Variable rate commitment | 0.0010 | |
Fronted and Syndicated Lines of Credit [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum | ||
Debt Instrument [Line Items] | ||
Variable rate commitment | 0.0075 | |
Letter of Credit [Member] | ||
Debt Instrument [Line Items] | ||
Principal Amount | $ 1,800 | $ 1,800 |
Short-term Borrowings and Long-term Debt (Schedule of Lines of Credit) (Details) - Domestic Line of Credit [Member] - USD ($) $ in Millions |
1 Months Ended | 12 Months Ended | |
---|---|---|---|
Apr. 30, 2020 |
Jan. 31, 2021 |
Jan. 31, 2020 |
|
Line of Credit Facility [Line Items] | |||
Available | $ 15,000 | $ 15,000 | |
Drawn | 0 | 0 | |
Undrawn | 15,000 | 15,000 | |
Five Year Credit Facility [Member] | |||
Line of Credit Facility [Line Items] | |||
Available | 5,000 | 5,000 | |
Drawn | 0 | 0 | |
Undrawn | $ 5,000 | 5,000 | |
Revolving credit facility term | 5 years | ||
Revolving Credit Facility [Member] | |||
Line of Credit Facility [Line Items] | |||
Available | $ 10,000 | 10,000 | |
Drawn | 0 | 0 | |
Undrawn | $ 10,000 | $ 10,000 | |
Revolving credit facility term | 364 days |
Short-term Borrowings and Long-term Debt (Schedule of Long-Term Debt) (Details) - USD ($) $ in Millions |
Jan. 31, 2021 |
Jan. 31, 2020 |
---|---|---|
Debt Instrument [Line Items] | ||
Unsecured debt | $ 44,306 | $ 49,180 |
Total debt | 44,309 | 49,076 |
Less amounts due within one year | (3,115) | (5,362) |
Long-term debt | 41,194 | 43,714 |
Unsecured debt [Member] | ||
Debt Instrument [Line Items] | ||
Total debt | 44,309 | |
Less amounts due within one year | (3,115) | |
Total other debt [Member] | ||
Debt Instrument [Line Items] | ||
Total other | 3 | (104) |
Denominated US Dollar with Fixed Rate [Member] | ||
Debt Instrument [Line Items] | ||
Unsecured debt | $ 35,216 | $ 39,752 |
Denominated US Dollar with Fixed Rate [Member] | Unsecured debt [Member] | ||
Debt Instrument [Line Items] | ||
Average Rate | 3.90% | 3.80% |
Denominated US Dollar with Variable Rate [Member] | ||
Debt Instrument [Line Items] | ||
Unsecured debt | $ 750 | $ 1,500 |
Denominated US Dollar with Variable Rate [Member] | Unsecured debt [Member] | ||
Debt Instrument [Line Items] | ||
Average Rate | 0.50% | 2.10% |
Denominated U S Dollar [Member] | ||
Debt Instrument [Line Items] | ||
Unsecured debt | $ 35,966 | $ 41,252 |
Denominated Euro with Fixed Rate [Member] | ||
Debt Instrument [Line Items] | ||
Unsecured debt | $ 3,034 | $ 2,758 |
Denominated Euro with Fixed Rate [Member] | Unsecured debt [Member] | ||
Debt Instrument [Line Items] | ||
Average Rate | 3.30% | 3.30% |
Denominated Euro with Variable Rate [Member] | ||
Debt Instrument [Line Items] | ||
Unsecured debt | $ 0 | $ 0 |
Denominated Euro [Member] | ||
Debt Instrument [Line Items] | ||
Unsecured debt | 3,034 | 2,758 |
Denominated Sterling with Fixed Rate [Member] | ||
Debt Instrument [Line Items] | ||
Unsecured debt | $ 3,682 | $ 3,518 |
Denominated Sterling with Fixed Rate [Member] | Unsecured debt [Member] | ||
Debt Instrument [Line Items] | ||
Average Rate | 5.40% | 5.40% |
Denominated Sterling with Variable Rate [Member] | ||
Debt Instrument [Line Items] | ||
Unsecured debt | $ 0 | $ 0 |
Denominated Sterling [Member] | ||
Debt Instrument [Line Items] | ||
Unsecured debt | 3,682 | 3,518 |
Denominated Yen with Fixed Rate [Member] | ||
Debt Instrument [Line Items] | ||
Unsecured debt | $ 1,624 | $ 1,652 |
Denominated Yen with Fixed Rate [Member] | Unsecured debt [Member] | ||
Debt Instrument [Line Items] | ||
Average Rate | 0.30% | 0.40% |
Denominated Yen with Variable Rate [Member] | ||
Debt Instrument [Line Items] | ||
Unsecured debt | $ 0 | $ 0 |
Denominated Yen [Member] | ||
Debt Instrument [Line Items] | ||
Unsecured debt | $ 1,624 | $ 1,652 |
Short-term Borrowings and Long-term Debt (Schedule of Debt Maturities) (Details) - USD ($) $ in Millions |
Jan. 31, 2021 |
Jan. 31, 2020 |
---|---|---|
Debt Instrument [Line Items] | ||
2022 | $ 3,115 | $ 5,362 |
Total debt | 44,309 | $ 49,076 |
Unsecured debt [Member] | ||
Debt Instrument [Line Items] | ||
2022 | 3,115 | |
2023 | 3,014 | |
2024 | 4,721 | |
2025 | 4,360 | |
2026 | 1,480 | |
Thereafter | 27,619 | |
Total debt | $ 44,309 |
Short-term Borrowings and Long-term Debt (Schedule of Fiscal Debt Issuances) (Details) - USD ($) |
12 Months Ended | ||||
---|---|---|---|---|---|
Jan. 31, 2021 |
Jan. 31, 2020 |
Jan. 31, 2019 |
Sep. 24, 2019 |
Apr. 23, 2019 |
|
Schedule of Fiscal 2020 and Fiscal 2019 Debt Issuances [Line Items] | |||||
Net Proceeds | $ 0 | $ 5,492,000,000 | $ 15,872,000,000 | ||
Unsecured debt [Member] | |||||
Schedule of Fiscal 2020 and Fiscal 2019 Debt Issuances [Line Items] | |||||
Net Proceeds | $ 0 | 5,492,000,000 | |||
2.850% Debt, Due 2024 [Member] | Unsecured debt [Member] | |||||
Schedule of Fiscal 2020 and Fiscal 2019 Debt Issuances [Line Items] | |||||
Principal Amount | $ 1,500,000,000 | ||||
Interest Rate | 2.85% | ||||
Net Proceeds | 1,493,000,000 | ||||
3.050% Debt, Due 2026 [Member] | Unsecured debt [Member] | |||||
Schedule of Fiscal 2020 and Fiscal 2019 Debt Issuances [Line Items] | |||||
Principal Amount | $ 1,250,000,000 | ||||
Interest Rate | 3.05% | ||||
Net Proceeds | 1,242,000,000 | ||||
3.250% Debt, Due 2029 [Member] | Unsecured debt [Member] | |||||
Schedule of Fiscal 2020 and Fiscal 2019 Debt Issuances [Line Items] | |||||
Principal Amount | $ 1,250,000,000 | ||||
Interest Rate | 3.25% | ||||
Net Proceeds | 1,243,000,000 | ||||
2.375% Debt, Due 2029 [Member] | Unsecured debt [Member] | |||||
Schedule of Fiscal 2020 and Fiscal 2019 Debt Issuances [Line Items] | |||||
Principal Amount | $ 500,000,000 | ||||
Interest Rate | 2.375% | ||||
Net Proceeds | 497,000,000 | ||||
2.950% Debt, Due 2049 [Member] | Unsecured debt [Member] | |||||
Schedule of Fiscal 2020 and Fiscal 2019 Debt Issuances [Line Items] | |||||
Principal Amount | $ 1,000,000,000 | ||||
Interest Rate | 2.95% | ||||
Net Proceeds | 975,000,000 | ||||
Various Rates, Due Various [Member] | Unsecured debt [Member] | |||||
Schedule of Fiscal 2020 and Fiscal 2019 Debt Issuances [Line Items] | |||||
Principal Amount | 42,000,000 | ||||
Net Proceeds | $ 42,000,000 |
Short-term Borrowings and Long-term Debt (Schedule of Debt Repayments) (Details) ¥ in Millions, $ in Millions |
12 Months Ended | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Jan. 31, 2021
USD ($)
|
Jan. 31, 2020
USD ($)
|
Jan. 31, 2019
USD ($)
|
Dec. 15, 2020
USD ($)
|
Oct. 25, 2020
USD ($)
|
Jul. 28, 2020
JPY (¥)
|
Jul. 08, 2020
USD ($)
|
Jun. 23, 2020
USD ($)
|
Oct. 20, 2019
USD ($)
|
Feb. 01, 2019
USD ($)
|
|
Debt Instrument [Line Items] | ||||||||||
Repayment | $ 5,382 | $ 1,907 | $ 3,784 | |||||||
Unsecured debt [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Repayment | 5,382 | 1,907 | ||||||||
Unsecured debt [Member] | Variable Rate Debt, Due 2020 [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Principal Amount | $ 750 | |||||||||
Repayment | 750 | |||||||||
Unsecured debt [Member] | 2.850% Debt, Due 2020 [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Principal Amount | $ 1,250 | |||||||||
Interest Rate | 2.85% | |||||||||
Repayment | 1,250 | |||||||||
Unsecured debt [Member] | 3.630% Debt Due 2020 [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Principal Amount | $ 840 | |||||||||
Interest Rate | 3.63% | |||||||||
Repayment | 840 | |||||||||
Unsecured debt [Member] | 1.600% Debt Due 2020 [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Principal Amount | ¥ | ¥ 10,000 | |||||||||
Interest Rate | 1.60% | |||||||||
Repayment | 95 | |||||||||
Unsecured debt [Member] | 3.250% Debt Due 2020 [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Principal Amount | $ 1,197 | |||||||||
Interest Rate | 3.25% | |||||||||
Repayment | 1,197 | |||||||||
Unsecured debt [Member] | 1.900% Debt Due 2020 [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Principal Amount | $ 1,250 | |||||||||
Interest Rate | 1.90% | |||||||||
Repayment | $ 1,250 | |||||||||
Unsecured debt [Member] | 4.125% Debt Due 2019 [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Principal Amount | $ 364 | |||||||||
Interest Rate | 4.125% | |||||||||
Repayment | 364 | |||||||||
Unsecured debt [Member] | Variable Rate Debt Due 2019 [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Principal Amount | $ 300 | |||||||||
Repayment | 300 | |||||||||
Unsecured debt [Member] | 1.750% Debt, Due 2019 [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Principal Amount | $ 1,200 | |||||||||
Interest Rate | 1.75% | |||||||||
Repayment | 1,200 | |||||||||
Unsecured debt [Member] | Various [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Principal Amount | 43 | |||||||||
Repayment | $ 43 |
Leases (Leases Cost) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Jan. 31, 2021 |
Jan. 31, 2020 |
Jan. 31, 2019 |
|
Leases [Abstract] | |||
Operating lease cost | $ 2,626 | $ 2,670 | |
Amortization of right-of-use assets | 583 | 480 | |
Interest on lease obligations | 298 | 306 | |
Variable lease cost | $ 777 | $ 691 | |
Rentals under operating leases and short-term rental arrangements | $ 3,000 |
Leases (Schedule of Other Information Relating to Lease Liabilities) (Details) - USD ($) $ in Millions |
12 Months Ended | |
---|---|---|
Jan. 31, 2021 |
Jan. 31, 2020 |
|
Leases [Abstract] | ||
Operating cash flows from operating leases | $ 2,629 | $ 2,614 |
Operating cash flows from finance leases | 286 | 278 |
Financing cash flows from finance leases | 546 | 485 |
Assets obtained in exchange for operating lease obligations | 2,131 | 2,151 |
Assets obtained in exchange for finance lease obligations | $ 1,547 | $ 1,081 |
Weighted-average remaining lease term - operating leases | 12 years 6 months | 15 years 7 months 6 days |
Weighted-average remaining lease term - finance leases | 13 years 8 months 12 days | 14 years 4 months 24 days |
Weighted-average discount rate - operating leases | 6.10% | 5.40% |
Weighted-average discount rate - finance leases | 6.80% | 8.60% |
Leases (Lessee Liability Maturity) (Details) $ in Millions |
Jan. 31, 2021
USD ($)
|
---|---|
Operating Leases | |
2022 | $ 2,189 |
2023 | 2,017 |
2024 | 1,861 |
2025 | 1,697 |
2026 | 1,527 |
Thereafter | 11,658 |
Total undiscounted lease obligations | 20,949 |
Less imputed interest | (6,574) |
Operating lease, liability | 14,375 |
Finance Leases | |
2022 | 717 |
2023 | 613 |
2024 | 551 |
2025 | 496 |
2026 | 449 |
Thereafter | 4,746 |
Total undiscounted lease obligations | 7,572 |
Less imputed interest | (3,234) |
Finance lease, liability | $ 4,338 |
Fair Value Measurements (Recurring and Nonrecurring) (Details) - USD ($) $ in Millions |
Jan. 31, 2021 |
Jan. 31, 2020 |
---|---|---|
Debt and Equity Securities, FV-NI [Line Items] | ||
Equity investments | $ 14,422 | $ 5,438 |
Fair Value, Inputs, Level 1 [Member] | Recurring [Member] | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Equity investments | 6,517 | 2,715 |
Fair Value, Inputs, Level 2 [Member] | Recurring [Member] | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Equity investments | $ 7,905 | $ 2,723 |
Fair Value Measurements (Notional Amounts And Fair Values Of Interest Rate Swaps) (Details) - USD ($) $ in Millions |
Jan. 31, 2021 |
Jan. 31, 2020 |
---|---|---|
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Notional Amount | $ 9,573 | $ 11,817 |
Fair Value Hedging [Member] | Interest Rate Swap [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Notional Amount | 3,250 | 4,000 |
Net Investment Hedging [Member] | Cross-currency interest rate swaps [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Notional Amount | 1,250 | 3,750 |
Cash Flow Hedging [Member] | Cross-currency interest rate swaps [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Notional Amount | 5,073 | 4,067 |
Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | 83 | (144) |
Recurring [Member] | Fair Value Hedging [Member] | Interest Rate Swap [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | 166 | 97 |
Recurring [Member] | Net Investment Hedging [Member] | Cross-currency interest rate swaps [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | 311 | 455 |
Recurring [Member] | Cash Flow Hedging [Member] | Cross-currency interest rate swaps [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | (394) | $ (696) |
Deferred income taxes and other [Member] | Recurring [Member] | Cash Flow Hedging [Member] | Cross-currency interest rate swaps [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | 456 | |
Other long-term assets [Member] | Recurring [Member] | Cash Flow Hedging [Member] | Cross-currency interest rate swaps [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | $ 62 |
Fair Value Measurements (Narrative) (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | ||
---|---|---|---|---|
Jan. 31, 2021 |
Jan. 31, 2021 |
Jan. 31, 2020 |
Jan. 31, 2019 |
|
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Losses on disposal of business operations | $ 8,401 | $ 15 | $ 4,850 | |
Asda [Member] | Disposal Group, Held-for-sale, Not Discontinued Operations | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Losses on disposal of business operations | $ 5,500 | |||
Accumulated pension components included in disposal group, expected amount | 2,300 | |||
Walmart Brazil [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Discontinued operation, assets | 3,300 | |||
Discontinued operation, current assets | 1,000 | |||
Discontinued operation, property and equipment | 1,600 | |||
Discontinued operation, other assets | $ 700 | |||
Walmart International [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Losses on disposal of business operations | $ 8,300 | |||
Impairment charges | 400 | |||
Walmart U S [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Impairment charges | $ 500 |
Fair Value Measurements (Carrying Value And Fair Value Of Long-Term Debt) (Details) - USD ($) $ in Millions |
Jan. 31, 2021 |
Jan. 31, 2020 |
---|---|---|
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Carrying Value | $ 44,309 | $ 49,076 |
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Fair Value | $ 54,240 | $ 57,769 |
Taxes (Schedule of Income Before Income Taxes) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Jan. 31, 2021 |
Jan. 31, 2020 |
Jan. 31, 2019 |
|
Income Tax Disclosure [Abstract] | |||
U.S. | $ 20,003 | $ 17,098 | $ 15,875 |
Non-U.S. | 561 | 3,018 | (4,415) |
Income before income taxes | $ 20,564 | $ 20,116 | $ 11,460 |
Taxes (Schedule of Income Tax Provision) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Jan. 31, 2021 |
Jan. 31, 2020 |
Jan. 31, 2019 |
|
Current: | |||
U.S. federal | $ 2,991 | $ 2,794 | $ 2,763 |
U.S. state and local | 742 | 587 | 493 |
International | 1,127 | 1,205 | 1,495 |
Total current tax provision | 4,860 | 4,586 | 4,751 |
Deferred: | |||
U.S. federal | 2,316 | 663 | (361) |
U.S. state and local | 23 | 35 | (16) |
International | (341) | (369) | (93) |
Total deferred tax expense (benefit) | 1,998 | 329 | (470) |
Total provision for income taxes | $ 6,858 | $ 4,915 | $ 4,281 |
Taxes (Narrative) (Details) - USD ($) $ in Millions |
12 Months Ended | |||
---|---|---|---|---|
Jan. 31, 2021 |
Jan. 31, 2019 |
Jan. 31, 2020 |
Jan. 31, 2018 |
|
Taxes [Line Items] | ||||
Tax expense | $ 442 | |||
Accumulated foreign earnings, percent | 15.50% | |||
Transition tax on accumulated foreign, percent | 8.00% | |||
Accumulated foreign earnings, provisional income tax expense | 413 | |||
Deferred tax liability | $ 2,000 | |||
Operating loss and capital loss carryforwards | 38,400 | |||
Valuation allowances | 8,782 | $ 8,588 | ||
Unrecognized tax benefits | 3,135 | $ 1,305 | 1,817 | $ 1,010 |
Unrecognized tax benefits that would impact effective tax rate | 1,700 | $ 1,600 | ||
Operating loss and capital loss carryforward expiring by 2040 [Member] | ||||
Taxes [Line Items] | ||||
Operating loss and capital loss carryforwards | $ 26,400 |
Taxes (Schedule of Income Tax Rate) (Details) |
12 Months Ended | ||
---|---|---|---|
Jan. 31, 2021 |
Jan. 31, 2020 |
Jan. 31, 2019 |
|
Income Tax Disclosure [Abstract] | |||
U.S. statutory tax rate | 21.00% | 21.00% | 21.00% |
U.S. state income taxes, net of federal income tax benefit | 2.90% | 2.20% | 3.00% |
One-time transition tax | 0 | 0 | 0.036 |
Deferred tax effects | 0 | 0 | (0.007) |
Income taxed outside the U.S. | (0.10%) | (1.00%) | (3.40%) |
Disposal and wind-down of certain business operations | 7.10% | 0.00% | 6.70% |
Valuation allowance | 2.30% | 2.30% | 6.30% |
Net impact of repatriated international earnings | (0.40%) | 0.40% | 0.80% |
Federal tax credits | (0.90%) | (0.80%) | (1.30%) |
Enacted change in tax laws | 0.00% | (1.90%) | 0.00% |
Change in reserve for tax contingencies | 0.80% | 2.50% | 0.60% |
Other, net | 0.60% | (0.30%) | 0.80% |
Effective income tax rate | 33.30% | 24.40% | 37.40% |
Taxes (Schedule of Deferred Tax Balances) (Details) - USD ($) $ in Millions |
Jan. 31, 2021 |
Jan. 31, 2020 |
---|---|---|
Deferred tax assets: | ||
Loss and tax credit carryforwards | $ 9,179 | $ 9,056 |
Accrued liabilities | 2,582 | 2,483 |
Share-based compensation | 224 | 250 |
Lease obligations | 4,450 | 4,098 |
Other | 589 | 887 |
Total deferred tax assets | 17,024 | 16,774 |
Valuation allowances | (8,782) | (8,588) |
Deferred tax assets, net of valuation allowances | 8,242 | 8,186 |
Deferred tax liabilities: | ||
Property and equipment | 4,802 | 4,364 |
Acquired intangibles | 1,071 | 1,153 |
Inventory | 1,235 | 1,414 |
Lease right of use assets | 4,390 | 3,998 |
Mark-to-market investments | 2,678 | 723 |
Other | 675 | 824 |
Total deferred tax liabilities | 14,851 | 12,476 |
Net deferred tax liabilities | $ 6,609 | $ 4,290 |
Taxes (Schedule of Deferred Tax Classification in the Balance Sheet) (Details) - USD ($) $ in Millions |
Jan. 31, 2021 |
Jan. 31, 2020 |
---|---|---|
Liabilities: | ||
Net deferred tax liabilities | $ 6,609 | $ 4,290 |
Other long-term assets [Member] | ||
ASSETS | ||
Other long-term assets | 1,836 | 1,914 |
Deferred income taxes and other [Member] | ||
Liabilities: | ||
Net deferred tax liabilities | $ 8,445 | $ 6,204 |
Taxes (Reconciliation of Unrecognized Tax Benefits from Continuing Operations) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Jan. 31, 2021 |
Jan. 31, 2020 |
Jan. 31, 2019 |
|
Reconciliation of Unrecognized Tax Benefits | |||
Gross unrecognized tax benefits, beginning of year | $ 1,817 | $ 1,305 | $ 1,010 |
Increases related to prior year tax positions | 92 | 516 | 620 |
Decreases related to prior year tax positions | (264) | (15) | (107) |
Increases related to current year tax positions | 1,582 | 66 | 203 |
Settlements during the period | (64) | (29) | (390) |
Lapse in statutes of limitations | (28) | (26) | (31) |
Gross unrecognized tax benefits, end of year | $ 3,135 | $ 1,817 | $ 1,305 |
Contingencies (Details) claim in Thousands |
Jan. 31, 2021
claim
|
---|---|
Asda equal value lawsuit [Member] | |
Loss Contingencies [Line Items] | |
Loss contingency, pending claims, number | 40 |
Retirement-Related Benefits (Narrative) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Jan. 31, 2021 |
Jan. 31, 2020 |
Jan. 31, 2019 |
|
Contribution expense from retirement plans [Line Items] | |||
Defined contribution plan, employer matching contribution, percent of match | 100.00% | ||
Defined contribution plan, employer matching contribution, percent of employees' gross pay | 6.00% | ||
Vesting percentage of matching contribution to eligible associates | 100.00% | ||
Defined contribution plan, maximum annual contributions per employee, percent | 50.00% | ||
Asda pension contribution | $ 0 | $ (1,036) | $ 0 |
Asda [Member] | Disposal Group, Held-for-sale, Not Discontinued Operations | |||
Contribution expense from retirement plans [Line Items] | |||
Accumulated pension components included in disposal group, expected amount | 2,300 | ||
Pension Plan [Member] | Asda Group Pension Scheme [Member] | |||
Contribution expense from retirement plans [Line Items] | |||
Asda pension contribution | $ 1,000 |
Retirement-Related Benefits (Schedule of Contribution Expense Related to Defined Contribution Plans) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Jan. 31, 2021 |
Jan. 31, 2020 |
Jan. 31, 2019 |
|
Contribution expense from retirement plans [Line Items] | |||
Total contribution expense for defined contribution plans | $ 1,490 | $ 1,361 | $ 1,291 |
UNITED STATES | |||
Contribution expense from retirement plans [Line Items] | |||
Total contribution expense for defined contribution plans | 1,290 | 1,184 | 1,165 |
Foreign Plan [Member] | |||
Contribution expense from retirement plans [Line Items] | |||
Total contribution expense for defined contribution plans | $ 200 | $ 177 | $ 126 |
Disposals, Acquisitions and Related Items (Narrative) (Details) R$ in Billions |
1 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Aug. 18, 2018
USD ($)
|
Aug. 31, 2018 |
Jan. 31, 2021
USD ($)
|
Oct. 31, 2020
USD ($)
|
Jan. 31, 2021
USD ($)
|
Jan. 31, 2020
USD ($)
|
Jan. 31, 2019
USD ($)
|
Mar. 19, 2021 |
Nov. 30, 2020
USD ($)
|
Oct. 31, 2018
USD ($)
|
Aug. 01, 2018
USD ($)
|
Aug. 01, 2018
BRL (R$)
|
|
Business Acquisition [Line Items] | ||||||||||||
Losses on disposal of business operations | $ 8,401,000,000 | $ 15,000,000 | $ 4,850,000,000 | |||||||||
Goodwill | $ 28,983,000,000 | 28,983,000,000 | $ 31,073,000,000 | 31,181,000,000 | ||||||||
Finite-lived intangible asset, useful life | 3 years | |||||||||||
Flipkart [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Percentage of outstanding shares acquired | 81.00% | |||||||||||
Diluted ownership, percent | 77.00% | |||||||||||
Payments to acquire businesses | $ 16,000,000,000 | |||||||||||
Total assets held for sale | 24,100,000,000 | |||||||||||
Cash and cash equivalents | 2,200,000,000 | |||||||||||
Other current assets | 2,800,000,000 | |||||||||||
Intangible assets other than goodwill | 5,000,000,000.0 | |||||||||||
Goodwill | 13,500,000,000 | |||||||||||
Indefinite-lived intangible assets | 4,700,000,000 | |||||||||||
Finite-lived intangibles | 300,000,000 | |||||||||||
Total liabilities held for sale | 3,700,000,000 | |||||||||||
Current liabilities | 1,800,000,000 | |||||||||||
Deferred income taxes and other | 1,700,000,000 | |||||||||||
Noncontrolling interest | $ 4,300,000,000 | |||||||||||
Walmart Argentina [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Losses on disposal of business operations | $ 1,000,000,000.0 | |||||||||||
Asda [Member] | Disposal Group, Held-for-sale, Not Discontinued Operations | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Losses on disposal of business operations | 5,500,000,000 | |||||||||||
Disposal Group, Consideration | $ 9,400,000,000 | |||||||||||
Reduction to fair value of disposal group | 800,000,000 | 800,000,000 | ||||||||||
Accumulated pension components included in disposal group, expected amount | $ 2,300,000,000 | |||||||||||
Seiyu [Member] | Subsequent Event [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Ownership interest in investment | 15.00% | |||||||||||
Seiyu [Member] | Disposal Group, Held-for-sale, Not Discontinued Operations | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Losses on disposal of business operations | $ 1,900,000,000 | |||||||||||
Disposal Group, Consideration | $ 1,200,000,000 | |||||||||||
Walmart Brazil [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Guarantor obligations, maximum exposure | R$ | R$ 2.3 | |||||||||||
Equity method investment, ownership percentage | 20.00% | |||||||||||
Equity method investments fair value disclosure | $ 0 | |||||||||||
Equity method investments | $ 0 | |||||||||||
Walmart Brazil [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Losses on disposal of business operations | $ 4,800,000,000 | |||||||||||
Ownership sold, percent | 80.00% | |||||||||||
Additional contributed capital, period | 3 years | |||||||||||
Guarantor obligations, current carrying value | $ 800,000,000 |
Disposals, Acquisitions and Related Items (Assets and Liabilities Held for sale) (Details) - USD ($) $ in Millions |
12 Months Ended | |
---|---|---|
Jan. 31, 2021 |
Jan. 31, 2020 |
|
Disposal Group, Including Discontinued Operation, Liabilities [Abstract] | ||
Current liabilities | $ 12,734 | $ 0 |
Asda and Seiyu [Member] | Disposal Group, Held-for-sale, Not Discontinued Operations | ||
Disposal Group, Including Discontinued Operation, Assets [Abstract] | ||
Cash and cash equivalents | 1,848 | |
Other current assets | 2,545 | |
Property and equipment, net | 13,193 | |
Operating lease right-of-use assets | 4,360 | |
Finance lease right-of-use assets, net | 1,395 | |
Goodwill | 2,211 | |
Other long-term assets | 1,063 | |
Valuation allowance against assets held for sale | (7,420) | |
Total assets held for sale | 19,195 | |
Disposal Group, Including Discontinued Operation, Liabilities [Abstract] | ||
Current liabilities | 6,535 | |
Operating lease obligations, including amounts due within one year | 4,245 | |
Finance lease obligations, including amounts due within one year | 1,495 | |
Deferred income taxes and other | 459 | |
Total liabilities held for sale | 12,734 | |
Foreign currency translation | 1,300 | |
Asda [Member] | Disposal Group, Held-for-sale, Not Discontinued Operations | ||
Disposal Group, Including Discontinued Operation, Liabilities [Abstract] | ||
Accumulated pension components included in disposal group, expected amount | $ 2,300 |
Segments and Disaggregated Revenue (Narrative) (Details) |
12 Months Ended |
---|---|
Jan. 31, 2021
segment
| |
Segment Reporting Information, Profit (Loss) [Abstract] | |
Number of reportable segments | 3 |
Segments and Disaggregated Revenue (Schedule of Segment Reporting Information by Segment) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Jan. 31, 2021 |
Jan. 31, 2020 |
Jan. 31, 2019 |
|
Segment Reporting Information [Line Items] | |||
Net sales | $ 555,233 | $ 519,926 | $ 510,329 |
Operating income (loss) | 22,548 | 20,568 | 21,957 |
Interest, net | (2,194) | (2,410) | (2,129) |
Other gains and (losses) | 210 | 1,958 | (8,368) |
Income before income taxes | 20,564 | 20,116 | 11,460 |
Loss on extinguishment of debt | (8,368) | ||
Total assets | 252,496 | 236,495 | 219,295 |
Depreciation and amortization | 11,152 | 10,987 | 10,678 |
Capital expenditures | 10,264 | 10,705 | 10,344 |
Walmart U S [Member] | |||
Segment Reporting Information [Line Items] | |||
Net sales | 369,963 | 341,004 | 331,666 |
Operating income (loss) | 19,116 | 17,380 | 17,386 |
Total assets | 113,490 | 110,353 | 105,114 |
Depreciation and amortization | 6,561 | 6,408 | 6,201 |
Capital expenditures | 6,131 | 6,315 | 6,034 |
Walmart International [Member] | |||
Segment Reporting Information [Line Items] | |||
Net sales | 121,360 | 120,130 | 120,824 |
Operating income (loss) | 3,660 | 3,370 | 4,883 |
Total assets | 109,445 | 105,811 | 97,066 |
Depreciation and amortization | 2,633 | 2,682 | 2,590 |
Capital expenditures | 2,436 | 2,801 | 2,661 |
Sams Club [Member] | |||
Segment Reporting Information [Line Items] | |||
Net sales | 63,910 | 58,792 | 57,839 |
Operating income (loss) | 1,906 | 1,642 | 1,520 |
Total assets | 13,415 | 13,494 | 12,893 |
Depreciation and amortization | 599 | 605 | 639 |
Capital expenditures | 488 | 525 | 450 |
Corporate and support [Member] | |||
Segment Reporting Information [Line Items] | |||
Net sales | 0 | 0 | 0 |
Operating income (loss) | (2,134) | (1,824) | (1,832) |
Total assets | 16,146 | 6,837 | 4,222 |
Depreciation and amortization | 1,359 | 1,292 | 1,248 |
Capital expenditures | $ 1,209 | $ 1,064 | $ 1,199 |
Segments and Disaggregated Revenue (Segment Revenues and Long-Lived Assets) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Jan. 31, 2021 |
Jan. 31, 2020 |
Jan. 31, 2019 |
|
Segment Reporting Information [Line Items] | |||
Total revenues | $ 559,151 | $ 523,964 | $ 514,405 |
Total long-lived assets | 109,848 | 127,049 | 111,395 |
UNITED STATES | |||
Segment Reporting Information [Line Items] | |||
Total revenues | 436,649 | 402,532 | 392,265 |
Total long-lived assets | 87,068 | 86,944 | 81,144 |
Walmart International [Member] | |||
Segment Reporting Information [Line Items] | |||
Total revenues | 122,502 | 121,432 | 122,140 |
Total long-lived assets | $ 22,780 | $ 40,105 | $ 30,251 |
Segments and Disaggregated Revenue (Revenue from Contract with Customer Excluding Assessed Tax Walmart U.S) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Jan. 31, 2021 |
Jan. 31, 2020 |
Jan. 31, 2019 |
|
Revenue from External Customer [Line Items] | |||
Net sales | $ 555,233 | $ 519,926 | $ 510,329 |
Walmart U S [Member] | |||
Revenue from External Customer [Line Items] | |||
Net sales | 369,963 | 341,004 | $ 331,666 |
Walmart U S [Member] | E Commerce [Member] | |||
Revenue from External Customer [Line Items] | |||
Net sales | 43,000 | 24,100 | |
Grocery [Member] | Walmart U S [Member] | |||
Revenue from External Customer [Line Items] | |||
Net sales | 208,413 | 192,428 | |
General Merchandise [Member] | Walmart U S [Member] | |||
Revenue from External Customer [Line Items] | |||
Net sales | 119,406 | 108,687 | |
Health and Wellness [Member] | Walmart U S [Member] | |||
Revenue from External Customer [Line Items] | |||
Net sales | 38,522 | 36,558 | |
Other Categories [Member] | Walmart U S [Member] | |||
Revenue from External Customer [Line Items] | |||
Net sales | $ 3,622 | $ 3,331 |
Segments and Disaggregated Revenue (Revenue from Contract with Customer Excluding Assessed Tax, International) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Jan. 31, 2021 |
Jan. 31, 2020 |
Jan. 31, 2019 |
|
Revenue from External Customer [Line Items] | |||
Net sales | $ 555,233 | $ 519,926 | $ 510,329 |
Walmart International [Member] | |||
Revenue from External Customer [Line Items] | |||
Net sales | 121,360 | 120,130 | $ 120,824 |
Walmart International [Member] | E Commerce [Member] | |||
Revenue from External Customer [Line Items] | |||
Net sales | 16,600 | 11,800 | |
Mexico and Central America [Member] | Walmart International [Member] | |||
Revenue from External Customer [Line Items] | |||
Net sales | 32,642 | 33,350 | |
UNITED KINGDOM | Walmart International [Member] | |||
Revenue from External Customer [Line Items] | |||
Net sales | 29,234 | 29,243 | |
CANADA | Walmart International [Member] | |||
Revenue from External Customer [Line Items] | |||
Net sales | 19,991 | 18,420 | |
CHINA | Walmart International [Member] | |||
Revenue from External Customer [Line Items] | |||
Net sales | 11,430 | 10,671 | |
Other [Member] | Walmart International [Member] | |||
Revenue from External Customer [Line Items] | |||
Net sales | $ 28,063 | $ 28,446 |
Segments and Disaggregated Revenue (Revenue from Contract with Customer Excluding Assessed Tax, Sam's Club) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Jan. 31, 2021 |
Jan. 31, 2020 |
Jan. 31, 2019 |
|
Revenue from External Customer [Line Items] | |||
Net sales | $ 555,233 | $ 519,926 | $ 510,329 |
Sams Club [Member] | |||
Revenue from External Customer [Line Items] | |||
Net sales | 63,910 | 58,792 | $ 57,839 |
Sams Club [Member] | E Commerce [Member] | |||
Revenue from External Customer [Line Items] | |||
Net sales | 5,300 | 3,800 | |
Grocery and consumables [Member] | Sams Club [Member] | |||
Revenue from External Customer [Line Items] | |||
Net sales | 42,148 | 35,043 | |
Fuel, tobacco, and other categories [Member] | Sams Club [Member] | |||
Revenue from External Customer [Line Items] | |||
Net sales | 7,838 | 10,571 | |
Home and apparel [Member] | Sams Club [Member] | |||
Revenue from External Customer [Line Items] | |||
Net sales | 7,092 | 6,744 | |
Health and Wellness [Member] | Sams Club [Member] | |||
Revenue from External Customer [Line Items] | |||
Net sales | 3,792 | 3,372 | |
Technology, offices, and entertainment [Member] | Sams Club [Member] | |||
Revenue from External Customer [Line Items] | |||
Net sales | $ 3,040 | $ 3,062 |
Subsequent Event (Details) - $ / shares |
12 Months Ended | |||
---|---|---|---|---|
Feb. 18, 2021 |
Jan. 31, 2021 |
Jan. 31, 2020 |
Jan. 31, 2019 |
|
Subsequent Event [Line Items] | ||||
Dividends declared per common share (in USD per share) | $ 2.16 | $ 2.12 | $ 2.08 | |
Subsequent Event [Member] | ||||
Subsequent Event [Line Items] | ||||
Dividends declared per common share (in USD per share) | $ 2.20 | |||
Common stock, quarterly dividends, per share, declared (in USD per share) | $ 0.55 |