WALMART INC., 10-K filed on 3/19/2021
Annual Report
v3.20.4
Cover Page - USD ($)
12 Months Ended
Jan. 31, 2021
Mar. 17, 2021
Jul. 31, 2020
Document Type 10-K    
Document Annual Report true    
Document Period End Date Jan. 31, 2021    
Current Fiscal Year End Date --01-31    
Document Transition Report false    
Entity File Number 001-06991    
Entity Registrant Name WALMART INC.    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 71-0415188    
Entity Address, Address Line One 702 S.W. 8th Street    
Entity Address, Postal Zip Code 72716    
Entity Address, City or Town Bentonville,    
Entity Address, State or Province AR    
City Area Code 479    
Local Phone Number 273-4000    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
Auditor Attestation Flag true    
Entity Shell Company false    
Entity Public Float     $ 182,886,052,366
Entity Common Stock, Shares Outstanding   2,817,071,695  
Documents Incorporated by Reference
Document  Parts Into Which Incorporated
Portions of the registrant's Proxy Statement for the Annual Meeting of Shareholders to be held June 2, 2021 (the "Proxy Statement")  Part III
   
Entity Central Index Key 0000104169    
Document Fiscal Year Focus 2021    
Document Fiscal Period Focus FY    
Amendment Flag false    
Common Stock, par value $0.10 per share [Member]      
Title of 12(b) Security Common Stock, par value $0.10 per share    
Trading Symbol WMT    
Security Exchange Name NYSE    
1.900% Notes Due 2022 [Member]      
Title of 12(b) Security 1.900% Notes Due 2022    
Trading Symbol WMT22    
Security Exchange Name NYSE    
2.550% Notes Due 2026 [Member]      
Title of 12(b) Security 2.550% Notes Due 2026    
Trading Symbol WMT26    
Security Exchange Name NYSE    
v3.20.4
Consolidated Statements of Income - USD ($)
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
v3.20.4
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
v3.20.4
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
v3.20.4
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  
v3.20.4
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
v3.20.4
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
v3.20.4
Summary of Significant Accounting Policies
12 Months Ended
Jan. 31, 2021
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:
As of January 31,
(Amounts in millions)Estimated Useful Lives20212020
LandN/A$19,308 $24,619 
Buildings and improvements
3 - 40 years
97,582 105,674 
Fixtures and equipment
1 - 30 years
56,639 58,607 
Transportation equipment
3 - 15 years
2,301 2,377 
Construction in progressN/A4,741 3,751 
Property and equipment180,571 195,028 
Accumulated depreciation(88,370)(89,820)
Property and equipment, net$92,201 $105,208 
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:
(Amounts in millions)Walmart U.S.Walmart
International
Sam's ClubTotal
Balances as of February 1, 2019$2,552 $28,316 $313 $31,181 
Changes in currency translation and other— (149)— (149)
Acquisitions41 — — 41 
Balances as of January 31, 20202,593 28,167 313 31,073 
Changes in currency translation and other— 10 — 10 
Acquisitions103 — 111 
Amounts reclassified related to operations held for sale(1)
— (2,211)— (2,211)
Balances as of January 31, 2021$2,696 $25,966 $321 $28,983 
(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.
v3.20.4
Net Income Per Common Share
12 Months Ended
Jan. 31, 2021
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:
Fiscal Years Ended January 31,
(Amounts in millions, except per share data)202120202019
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, basic2,831 2,850 2,929 
Dilutive impact of stock options and other share-based awards16 18 16 
Weighted-average common shares outstanding, diluted2,847 2,868 2,945 
Net income per common share attributable to Walmart
Basic$4.77 $5.22 $2.28 
Diluted4.75 5.19 2.26 
v3.20.4
Shareholders' Equity
12 Months Ended
Jan. 31, 2021
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:
 Fiscal Years Ended January 31,
(Amounts in millions)202120202019
Restricted stock units$742 $553 $456 
Restricted stock and performance-based restricted stock units277 270 293 
Other150 31 24 
Share-based compensation expense$1,169 $854 $773 
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 four 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 one 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:
Restricted Stock UnitsRestricted Stock and
Performance-based Restricted Stock Units
(Shares in thousands)SharesWeighted-Average Grant-Date Fair Value Per ShareSharesWeighted-Average Grant-Date Fair Value Per Share
Outstanding as of February 1, 202023,261 $79.51 6,045 $93.04 
Granted7,472 114.51 2,867 120.47 
Adjustment for performance achievement(1)
— — 576 86.46 
Vested/exercised(7,798)76.11 (3,075)88.88 
Forfeited (3,035)92.20 (1,000)96.36 
Outstanding as of January 31, 202119,900 $92.13 5,413 $108.72 
(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: 
 Fiscal Years Ended January 31,
(Amounts in millions, except years)202120202019
Fair value of restricted stock units vested$597 $442 $386 
Fair value of restricted stock and performance-based restricted stock units vested275 365 183 
Unrecognized compensation cost for restricted stock units1,062 1,096 1,002 
Unrecognized compensation cost for restricted stock and performance-based restricted stock units344 326 362 
Weighted average remaining period to expense for restricted stock units (years)1.11.31.6
Weighted average remaining period to expense for restricted stock and performance-based restricted stock units (years)1.41.41.1
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:
Fiscal Years Ended January 31,
(Amounts in millions, except per share data)202120202019
Total number of shares repurchased 19.4 53.9 79.5 
Average price paid per share $135.20 $105.98 $93.18 
Total cash paid for share repurchases$2,625 $5,717 $7,410 
v3.20.4
Accumulated Other Comprehensive Loss
12 Months Ended
Jan. 31, 2021
Other Comprehensive Income (Loss), Tax [Abstract]  
Accumulated Other Comprehensive Loss Accumulated Other Comprehensive Loss
The following table provides the changes in the composition of total accumulated other comprehensive loss for fiscal 2021, 2020, and 2019:
(Amounts in millions and net of immaterial income taxes)Currency
Translation
and Other
Net Investment HedgesUnrealized Gain on Available-for-Sale SecuritiesCash Flow HedgesMinimum
Pension Liability
Total
Balances as of February 1, 2018$(12,136)$1,030 $1,646 $122 $(843)$(10,181)
Adoption of new accounting standards(1)
89 93 (1,646)28 — (1,436)
Other comprehensive income (loss) before reclassifications, net(2,093)272 — (339)93 (2,067)
Reclassifications to income, net(2)
2,055 — — 49 38 2,142 
Balances as of January 31, 2019(12,085)1,395 — (140)(712)(11,542)
Other comprehensive income (loss) before reclassifications, net(3)
281 122 — (399)(1,283)(1,279)
Reclassifications to income, net(23)— — — 39 16 
Balances as of January 31, 2020(11,827)1,517 — (539)(1,956)(12,805)
Other comprehensive income (loss) before reclassifications, net214 (221)— 186 (172)
Reclassifications to income, net(4)
841 — — 49 142 1,032 
Balances as of January 31, 2021$(10,772)$1,296 $— $(304)$(1,986)$(11,766)
(1) Primarily relates to the adoption of ASU 2016-01 and ASU 2018-02, Income StatementReporting 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.
v3.20.4
Accrued Liabilities
12 Months Ended
Jan. 31, 2021
Accrued Liabilities [Abstract]  
Accrued Liabilities Accrued Liabilities
The Company's accrued liabilities consist of the following as of January 31, 2021 and 2020:
 January 31,
(Amounts in millions)20212020
Liabilities held for sale(1)
$12,734 $— 
Accrued wages and benefits(2)
7,654 6,093 
Self-insurance(3)
4,698 4,469 
Accrued non-income taxes(4)
3,328 3,039 
Deferred gift card revenue2,310 1,990 
Other(5)
7,242 6,705 
Total accrued liabilities$37,966 $22,296 
(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.
v3.20.4
Short-term Borrowings and Long-term Debt
12 Months Ended
Jan. 31, 2021
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:
January 31, 2021January 31, 2020
(Amounts in millions)AvailableDrawnUndrawnAvailableDrawnUndrawn
Five-year credit facility
$5,000 $— $5,000 $5,000 $— $5,000 
364-day revolving credit facility(1)
10,000 — 10,000 10,000 — 10,000 
Total$15,000 $— $15,000 $15,000 $— $15,000 
(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:
 January 31, 2021January 31, 2020
(Amounts in millions)Maturity Dates
By Fiscal Year
Amount
Average Rate(1)
Amount
Average Rate(1)
Unsecured debt
Fixed2022 - 2050$35,216 3.9%$39,752 3.8%
Variable2022750 0.5%1,500 2.1%
Total U.S. dollar denominated35,966 41,252 
Fixed2023 - 20303,034 3.3%2,758 3.3%
Variable— — 
Total Euro denominated3,034 2,758 
Fixed2031 - 20393,682 5.4%3,518 5.4%
Variable— — 
Total Sterling denominated3,682 3,518 
Fixed2023-20281,624 0.3%1,652 0.4%
Variable— — 
Total Yen denominated1,624 1,652 
Total unsecured debt44,306 49,180 
Total other(2)
(104)
Total debt44,309 49,076 
Less amounts due within one year(3,115)(5,362)
Long-term debt$41,194 $43,714 
(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:
(Amounts in millions)Annual
Fiscal YearMaturities
2022$3,115 
20233,014 
20244,721 
20254,360 
20261,480 
Thereafter27,619 
Total$44,309 
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:
(Amounts in millions)
Issue DatePrincipal AmountMaturity DateFixed vs. FloatingInterest RateNet Proceeds
April 23, 2019$1,500July 8, 2024Fixed2.850%$1,493 
April 23, 2019$1,250July 8, 2026Fixed3.050%1,242 
April 23, 2019$1,250July 8, 2029Fixed3.250%1,243 
September 24, 2019$500September 24, 2029Fixed2.375%497 
September 24, 2019$1,000September 24, 2049Fixed2.950%975 
Various$42VariousVariousVarious42 
Total$5,492 
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:
(Amounts in millions)
Maturity DatePrincipal AmountFixed vs. FloatingInterest RateRepayment
June 23, 2020$750FloatingFloating$750 
June 23, 2020$1,250Fixed2.850%1,250
July 8, 2020$840Fixed3.630%840
July 28, 2020¥10,000Fixed1.600%95
October 25, 2020$1,197Fixed3.250%1,197
December 15, 2020$1,250Fixed1.900%1,250
Total repayment of matured debt$5,382 
The following table provides details of debt repayments during fiscal 2020:
(Amounts in millions)
Maturity DatePrincipal AmountFixed vs. FloatingInterest RateRepayment
February 1, 2019$364Fixed4.125%$364 
October 20, 2019$300FloatingFloating300 
October 20, 2019$1,200Fixed1.750%1,200 
Various (1)
$43VariousVarious43 
Total repayment of matured debt$1,907 
(1) Includes repayments of smaller long-term debt as it matured in several non-U.S. operations.
v3.20.4
Leases
12 Months Ended
Jan. 31, 2021
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:
Fiscal years ended January 31,
(Amounts in millions)20212020
Operating lease cost(1)
$2,626 $2,670
Finance lease cost:
   Amortization of right-of-use assets583 480
   Interest on lease obligations298 306
Variable lease cost777 691
(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:
Fiscal years ended January 31,
(Dollar amounts in millions)20212020
Cash paid for amounts included in measurement of lease obligations:
Operating cash flows from operating leases$2,629 $2,614
Operating cash flows from finance leases286 278
Financing cash flows from finance leases546 485
Assets obtained in exchange for operating lease obligations2,131 2,151
Assets obtained in exchange for finance lease obligations1,547 1,081
As of January 31,
20212020
Weighted-average remaining lease term - operating leases(1)
12.5 years15.6 years
Weighted-average remaining lease term - finance leases(1)
13.7 years14.4 years
Weighted-average discount rate - operating leases(1)
6.1%5.4%
Weighted-average discount rate - finance leases(1)
6.8%8.6%
(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:
(Amounts in millions)
Fiscal YearOperating LeasesFinance Leases
2022$2,189 $717 
20232,017 613 
20241,861 551 
20251,697 496 
20261,527 449 
Thereafter11,658 4,746 
Total undiscounted lease obligations20,949 7,572 
Less imputed interest(6,574)(3,234)
Net lease obligations$14,375 $4,338 
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:
Fiscal years ended January 31,
(Amounts in millions)20212020
Operating lease cost(1)
$2,626 $2,670
Finance lease cost:
   Amortization of right-of-use assets583 480
   Interest on lease obligations298 306
Variable lease cost777 691
(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:
Fiscal years ended January 31,
(Dollar amounts in millions)20212020
Cash paid for amounts included in measurement of lease obligations:
Operating cash flows from operating leases$2,629 $2,614
Operating cash flows from finance leases286 278
Financing cash flows from finance leases546 485
Assets obtained in exchange for operating lease obligations2,131 2,151
Assets obtained in exchange for finance lease obligations1,547 1,081
As of January 31,
20212020
Weighted-average remaining lease term - operating leases(1)
12.5 years15.6 years
Weighted-average remaining lease term - finance leases(1)
13.7 years14.4 years
Weighted-average discount rate - operating leases(1)
6.1%5.4%
Weighted-average discount rate - finance leases(1)
6.8%8.6%
(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:
(Amounts in millions)
Fiscal YearOperating LeasesFinance Leases
2022$2,189 $717 
20232,017 613 
20241,861 551 
20251,697 496 
20261,527 449 
Thereafter11,658 4,746 
Total undiscounted lease obligations20,949 7,572 
Less imputed interest(6,574)(3,234)
Net lease obligations$14,375 $4,338 
v3.20.4
Fair Value Measurements
12 Months Ended
Jan. 31, 2021
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:
(Amounts in millions)Fair Value as of January 31, 2021Fair Value as of January 31, 2020
Equity investments measured using Level 1 inputs$6,517 $2,715 
Equity investments measured using Level 2 inputs7,905 2,723 
Total$14,422 $5,438 
Derivatives
The Company also has derivatives recorded at fair value. Derivative fair values are the estimated amounts the Company would receive or pay upon termination of the related derivative agreements as of the reporting dates. The fair values have been measured using the income approach and Level 2 inputs, which include the relevant interest rate and foreign currency forward curves. As of January 31, 2021 and January 31, 2020, the notional amounts and fair values of these derivatives were as follows:
 January 31, 2021January 31, 2020
(Amounts in millions)Notional AmountFair ValueNotional AmountFair Value
Receive fixed-rate, pay variable-rate interest rate swaps designated as fair value hedges$3,250 $166 (1)$4,000 $97 (1)
Receive fixed-rate, pay fixed-rate cross-currency swaps designated as net investment hedges1,250 311 (1)3,750 455 (1)
Receive fixed-rate, pay fixed-rate cross-currency swaps designated as cash flow hedges5,073 (394)(3)4,067 (696)(2)
Total$9,573 $83 $11,817 $(144)
(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:
 January 31, 2021January 31, 2020
(Amounts in millions)Carrying ValueFair ValueCarrying ValueFair Value
Long-term debt, including amounts due within one year$44,309 $54,240 $49,076 $57,769 
v3.20.4
Taxes
12 Months Ended
Jan. 31, 2021
Income Tax Disclosure [Abstract]  
Taxes Taxes
The components of income (loss) before income taxes are as follows:
 Fiscal Years Ended January 31,
(Amounts in millions)202120202019
U.S.$20,003 $17,098 $15,875 
Non-U.S.561 3,018 (4,415)
Total income before income taxes$20,564 $20,116 $11,460 
A summary of the provision for income taxes is as follows:
 Fiscal Years Ended January 31,
(Amounts in millions)202120202019
Current:
U.S. federal$2,991 $2,794 $2,763 
U.S. state and local742 587 493 
International1,127 1,205 1,495 
Total current tax provision4,860 4,586 4,751 
Deferred:
U.S. federal2,316 663 (361)
U.S. state and local23 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 
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:
 Fiscal Years Ended January 31,
 202120202019
U.S. statutory tax rate21.0 %21.0 %21.0 %
U.S. state income taxes, net of federal income tax benefit2.9 %2.2 %3.0 %
Impact of the Tax Act:
One-time transition tax— %— %3.6 %
Deferred tax effects— %— %(0.7)%
Income taxed outside the U.S.(0.1)%(1.0)%(3.4)%
Disposal and wind-down of certain business operations7.1 %— %6.7 %
Valuation allowance2.3 %2.3 %6.3 %
Net impact of repatriated international earnings(0.4)%0.4 %0.8 %
Federal tax credits(0.9)%(0.8)%(1.3)%
Enacted change in tax laws— %(1.9)%— %
Change in reserve for tax contingencies0.8 %2.5 %0.6 %
Other, net0.6 %(0.3)%0.8 %
Effective income tax rate33.3 %24.4 %37.4 %
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:
 January 31,
(Amounts in millions)20212020
Deferred tax assets:
Loss and tax credit carryforwards$9,179 $9,056 
Accrued liabilities2,582 2,483 
Share-based compensation224 250 
Lease obligations4,450 4,098 
Other589 887 
Total deferred tax assets17,024 16,774 
Valuation allowances(8,782)(8,588)
Deferred tax assets, net of valuation allowances8,242 8,186 
Deferred tax liabilities:
Property and equipment4,802 4,364 
Acquired intangibles1,071 1,153 
Inventory1,235 1,414 
Lease right of use assets4,390 3,998 
Mark-to-market investments2,678 723 
Other675 824 
Total deferred tax liabilities14,851 12,476 
Net deferred tax liabilities$6,609 $4,290 
The deferred taxes noted above are classified as follows in the Company's Consolidated Balance Sheets:
  January 31,
(Amounts in millions)20212020
Balance Sheet classification
Assets:
Other long-term assets$1,836 $1,914 
Liabilities:
Deferred income taxes and other8,445 6,204 
Net deferred tax liabilities$6,609 $4,290 
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:
 Fiscal Years Ended January 31,
(Amounts in millions)202120202019
Gross unrecognized tax benefits, beginning of year$1,817 $1,305 $1,010 
Increases related to prior year tax positions92 516 620 
Decreases related to prior year tax positions(264)(15)(107)
Increases related to current year tax positions1,582 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 
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.
v3.20.4
Contingencies
12 Months Ended
Jan. 31, 2021
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.
v3.20.4
Retirement-Related Benefits
12 Months Ended
Jan. 31, 2021
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:
Fiscal Years Ended January 31,
(Amounts in millions)202120202019
Defined contribution plans:
U.S.$1,290 $1,184 $1,165 
International200 177 126 
Total contribution expense for defined contribution plans$1,490 $1,361 $1,291 
Additionally, the Company's subsidiary in the United Kingdom has a sponsored defined benefit pension plan. In October 2019, Asda, Walmart and the Trustee of the Asda Group Pension Scheme (the "Plan") entered into an agreement pursuant to which Asda made a cash contribution of $1.0 billion to the Plan (the "Asda Pension Contribution") which enabled the Plan to purchase a bulk annuity insurance contract for the benefit of Plan participants. The agreement between Asda, Walmart and the Trustee of the Plan contemplates that subsequent to the purchase of the bulk annuity insurance contract by the Plan, each of the Plan participants will be issued an individual annuity contract. The issuer of the individual annuity insurance contracts will be solely responsible for paying each participant’s benefits in full and will release the Plan and Asda from any future obligations. In connection with the sale of Asda, all accumulated pension components of $2.3 billion were included in the disposal group and the estimated pre-tax loss recognized during the fourth quarter of fiscal 2021 as discussed in Note 8 and Note 12.
v3.20.4
Disposals, Acquisitions and Related Items
12 Months Ended
Jan. 31, 2021
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:
January 31,
(Amounts in millions)2021
Cash and cash equivalents$1,848 
Other current assets(1)
2,545 
Property and equipment, net13,193 
Operating lease right-of-use assets4,360 
Finance lease right-of-use assets, net1,395 
Goodwill2,211 
Other long-term assets1,063 
Valuation allowance against assets held for sale(2)
(7,420)
Total assets held for sale$19,195 
Current liabilities(3)
6,535 
Operating lease obligations, including amounts due within one year4,245 
Finance lease obligations, including amounts due within one year1,495 
Deferred income taxes and other459 
Total liabilities held for sale$12,734 
(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.
v3.20.4
Segments and Disaggregated Revenue
12 Months Ended
Jan. 31, 2021
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:
(Amounts in millions)
Walmart U.S.Walmart InternationalSam's ClubCorporate and supportConsolidated
Fiscal Year Ended January 31, 2021
Net sales$369,963 $121,360 $63,910 $— $555,233 
Operating income (loss)19,116 3,660 1,906 (2,134)22,548 
Interest, net(2,194)
Other gains and (losses)210 
Income before income taxes$20,564 
Total assets$113,490 $109,445 $13,415 $16,146 $252,496 
Depreciation and amortization6,561 2,633 599 1,359 11,152 
Capital expenditures6,131 2,436 488 1,209 10,264 
Fiscal Year Ended January 31, 2020
Net sales$341,004 $120,130 $58,792 $— $519,926 
Operating income (loss)17,380 3,370 1,642 (1,824)20,568 
Interest, net(2,410)
Other gains and (losses)1,958 
Income before income taxes$20,116 
Total assets$110,353 $105,811 $13,494 $6,837 $236,495 
Depreciation and amortization6,408 2,682 605 1,292 10,987 
Capital expenditures6,315 2,801 525 1,064 10,705 
Fiscal Year Ended January 31, 2019
Net sales$331,666 $120,824 $57,839 $— $510,329 
Operating income (loss)17,386 4,883 1,520 (1,832)21,957 
Interest, net(2,129)
Loss on extinguishment of debt(8,368)
Income before income taxes$11,460 
Total assets$105,114 $97,066 $12,893 $4,222 $219,295 
Depreciation and amortization6,201 2,590 639 1,248 10,678 
Capital expenditures6,034 2,661 450 1,199 10,344 
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:
Fiscal Years Ended January 31,
(Amounts in millions)202120202019
Revenues
U.S. operations$436,649 $402,532 $392,265 
Non-U.S. operations122,502 121,432 122,140 
Total revenues$559,151 $523,964 $514,405 
Long-lived assets
U.S. operations$87,068 $86,944 $81,144 
Non-U.S. operations22,780 40,105 30,251 
Total long-lived assets$109,848 $127,049 $111,395 
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.
(Amounts in millions)Fiscal Years Ended January 31,
Walmart U.S. net sales by merchandise category20212020
Grocery$208,413 $192,428 
General merchandise119,406 108,687 
Health and wellness38,522 36,558 
Other categories3,622 3,331 
Total$369,963 $341,004 
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.
(Amounts in millions)Fiscal Years Ended January 31,
Walmart International net sales by market20212020
Mexico and Central America$32,642 $33,350 
United Kingdom29,234 29,243 
Canada19,991 18,420 
China11,430 10,671 
Other28,063 28,446 
Total$121,360 $120,130 
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.
(Amounts in millions)Fiscal Years Ended January 31,
Sam’s Club net sales by merchandise category20212020
Grocery and consumables$42,148 $35,043 
Fuel, tobacco and other categories7,838 10,571 
Home and apparel7,092 6,744 
Health and wellness3,792 3,372 
Technology, office and entertainment3,040 3,062 
Total$63,910 $58,792 
Of Sam's Club's total net sales, approximately $5.3 billion and $3.8 billion related to eCommerce for fiscal 2021 and fiscal 2020, respectively.
v3.20.4
Subsequent Event
12 Months Ended
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:
Record Date  Payable Date
March 19, 2021  April 5, 2021
May 7, 2021  June 1, 2021
August 13, 2021  September 7, 2021
December 10, 2021  January 3, 2022
v3.20.4
Summary of Significant Accounting Policies (Policies)
12 Months Ended
Jan. 31, 2021
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.
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.
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.
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.
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:
As of January 31,
(Amounts in millions)Estimated Useful Lives20212020
LandN/A$19,308 $24,619 
Buildings and improvements
3 - 40 years
97,582 105,674 
Fixtures and equipment
1 - 30 years
56,639 58,607 
Transportation equipment
3 - 15 years
2,301 2,377 
Construction in progressN/A4,741 3,751 
Property and equipment180,571 195,028 
Accumulated depreciation(88,370)(89,820)
Property and equipment, net$92,201 $105,208 
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
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 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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
v3.20.4
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Jan. 31, 2021
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:
As of January 31,
(Amounts in millions)Estimated Useful Lives20212020
LandN/A$19,308 $24,619 
Buildings and improvements
3 - 40 years
97,582 105,674 
Fixtures and equipment
1 - 30 years
56,639 58,607 
Transportation equipment
3 - 15 years
2,301 2,377 
Construction in progressN/A4,741 3,751 
Property and equipment180,571 195,028 
Accumulated depreciation(88,370)(89,820)
Property and equipment, net$92,201 $105,208 
Schedule of goodwill
The following table reflects goodwill activity, by reportable segment, for fiscal 2021 and 2020:
(Amounts in millions)Walmart U.S.Walmart
International
Sam's ClubTotal
Balances as of February 1, 2019$2,552 $28,316 $313 $31,181 
Changes in currency translation and other— (149)— (149)
Acquisitions41 — — 41 
Balances as of January 31, 20202,593 28,167 313 31,073 
Changes in currency translation and other— 10 — 10 
Acquisitions103 — 111 
Amounts reclassified related to operations held for sale(1)
— (2,211)— (2,211)
Balances as of January 31, 2021$2,696 $25,966 $321 $28,983 
(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.
v3.20.4
Net Income Per Common Share (Tables)
12 Months Ended
Jan. 31, 2021
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:
Fiscal Years Ended January 31,
(Amounts in millions, except per share data)202120202019
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, basic2,831 2,850 2,929 
Dilutive impact of stock options and other share-based awards16 18 16 
Weighted-average common shares outstanding, diluted2,847 2,868 2,945 
Net income per common share attributable to Walmart
Basic$4.77 $5.22 $2.28 
Diluted4.75 5.19 2.26 
v3.20.4
Shareholders' Equity (Tables)
12 Months Ended
Jan. 31, 2021
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:
 Fiscal Years Ended January 31,
(Amounts in millions)202120202019
Restricted stock units$742 $553 $456 
Restricted stock and performance-based restricted stock units277 270 293 
Other150 31 24 
Share-based compensation expense$1,169 $854 $773 
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:
Restricted Stock UnitsRestricted Stock and
Performance-based Restricted Stock Units
(Shares in thousands)SharesWeighted-Average Grant-Date Fair Value Per ShareSharesWeighted-Average Grant-Date Fair Value Per Share
Outstanding as of February 1, 202023,261 $79.51 6,045 $93.04 
Granted7,472 114.51 2,867 120.47 
Adjustment for performance achievement(1)
— — 576 86.46 
Vested/exercised(7,798)76.11 (3,075)88.88 
Forfeited (3,035)92.20 (1,000)96.36 
Outstanding as of January 31, 202119,900 $92.13 5,413 $108.72 
(1)    Represents the adjustment to previously granted performance share units for performance achievement.
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: 
 Fiscal Years Ended January 31,
(Amounts in millions, except years)202120202019
Fair value of restricted stock units vested$597 $442 $386 
Fair value of restricted stock and performance-based restricted stock units vested275 365 183 
Unrecognized compensation cost for restricted stock units1,062 1,096 1,002 
Unrecognized compensation cost for restricted stock and performance-based restricted stock units344 326 362 
Weighted average remaining period to expense for restricted stock units (years)1.11.31.6
Weighted average remaining period to expense for restricted stock and performance-based restricted stock units (years)1.41.41.1
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:
Fiscal Years Ended January 31,
(Amounts in millions, except per share data)202120202019
Total number of shares repurchased 19.4 53.9 79.5 
Average price paid per share $135.20 $105.98 $93.18 
Total cash paid for share repurchases$2,625 $5,717 $7,410 
v3.20.4
Accumulated Other Comprehensive Loss (Tables)
12 Months Ended
Jan. 31, 2021
Other Comprehensive Income (Loss), Tax [Abstract]  
Composition of accumulated other comprehensive income (loss)
The following table provides the changes in the composition of total accumulated other comprehensive loss for fiscal 2021, 2020, and 2019:
(Amounts in millions and net of immaterial income taxes)Currency
Translation
and Other
Net Investment HedgesUnrealized Gain on Available-for-Sale SecuritiesCash Flow HedgesMinimum
Pension Liability
Total
Balances as of February 1, 2018$(12,136)$1,030 $1,646 $122 $(843)$(10,181)
Adoption of new accounting standards(1)
89 93 (1,646)28 — (1,436)
Other comprehensive income (loss) before reclassifications, net(2,093)272 — (339)93 (2,067)
Reclassifications to income, net(2)
2,055 — — 49 38 2,142 
Balances as of January 31, 2019(12,085)1,395 — (140)(712)(11,542)
Other comprehensive income (loss) before reclassifications, net(3)
281 122 — (399)(1,283)(1,279)
Reclassifications to income, net(23)— — — 39 16 
Balances as of January 31, 2020(11,827)1,517 — (539)(1,956)(12,805)
Other comprehensive income (loss) before reclassifications, net214 (221)— 186 (172)
Reclassifications to income, net(4)
841 — — 49 142 1,032 
Balances as of January 31, 2021$(10,772)$1,296 $— $(304)$(1,986)$(11,766)
(1) Primarily relates to the adoption of ASU 2016-01 and ASU 2018-02, Income StatementReporting 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.
v3.20.4
Accrued Liabilities (Tables)
12 Months Ended
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:
 January 31,
(Amounts in millions)20212020
Liabilities held for sale(1)
$12,734 $— 
Accrued wages and benefits(2)
7,654 6,093 
Self-insurance(3)
4,698 4,469 
Accrued non-income taxes(4)
3,328 3,039 
Deferred gift card revenue2,310 1,990 
Other(5)
7,242 6,705 
Total accrued liabilities$37,966 $22,296 
(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.
v3.20.4
Short-term Borrowings and Long-term Debt (Tables)
12 Months Ended
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:
January 31, 2021January 31, 2020
(Amounts in millions)AvailableDrawnUndrawnAvailableDrawnUndrawn
Five-year credit facility
$5,000 $— $5,000 $5,000 $— $5,000 
364-day revolving credit facility(1)
10,000 — 10,000 10,000 — 10,000 
Total$15,000 $— $15,000 $15,000 $— $15,000 
(1)     In April 2020, the Company renewed and extended its existing 364-day revolving credit facility.
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:
 January 31, 2021January 31, 2020
(Amounts in millions)Maturity Dates
By Fiscal Year
Amount
Average Rate(1)
Amount
Average Rate(1)
Unsecured debt
Fixed2022 - 2050$35,216 3.9%$39,752 3.8%
Variable2022750 0.5%1,500 2.1%
Total U.S. dollar denominated35,966 41,252 
Fixed2023 - 20303,034 3.3%2,758 3.3%
Variable— — 
Total Euro denominated3,034 2,758 
Fixed2031 - 20393,682 5.4%3,518 5.4%
Variable— — 
Total Sterling denominated3,682 3,518 
Fixed2023-20281,624 0.3%1,652 0.4%
Variable— — 
Total Yen denominated1,624 1,652 
Total unsecured debt44,306 49,180 
Total other(2)
(104)
Total debt44,309 49,076 
Less amounts due within one year(3,115)(5,362)
Long-term debt$41,194 $43,714 
(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.
Schedule of maturities of long-term debt
Annual maturities of long-term debt during the next five years and thereafter are as follows:
(Amounts in millions)Annual
Fiscal YearMaturities
2022$3,115 
20233,014 
20244,721 
20254,360 
20261,480 
Thereafter27,619 
Total$44,309 
Schedule of fiscal 2020 debt issuances Information on long-term debt issued during fiscal 2020, for general corporate purposes, is as follows:
(Amounts in millions)
Issue DatePrincipal AmountMaturity DateFixed vs. FloatingInterest RateNet Proceeds
April 23, 2019$1,500July 8, 2024Fixed2.850%$1,493 
April 23, 2019$1,250July 8, 2026Fixed3.050%1,242 
April 23, 2019$1,250July 8, 2029Fixed3.250%1,243 
September 24, 2019$500September 24, 2029Fixed2.375%497 
September 24, 2019$1,000September 24, 2049Fixed2.950%975 
Various$42VariousVariousVarious42 
Total$5,492 
Schedule of fiscal 2021 and fiscal 2020 debt maturities
The following table provides details of debt repayments during fiscal 2021:
(Amounts in millions)
Maturity DatePrincipal AmountFixed vs. FloatingInterest RateRepayment
June 23, 2020$750FloatingFloating$750 
June 23, 2020$1,250Fixed2.850%1,250
July 8, 2020$840Fixed3.630%840
July 28, 2020¥10,000Fixed1.600%95
October 25, 2020$1,197Fixed3.250%1,197
December 15, 2020$1,250Fixed1.900%1,250
Total repayment of matured debt$5,382 
The following table provides details of debt repayments during fiscal 2020:
(Amounts in millions)
Maturity DatePrincipal AmountFixed vs. FloatingInterest RateRepayment
February 1, 2019$364Fixed4.125%$364 
October 20, 2019$300FloatingFloating300 
October 20, 2019$1,200Fixed1.750%1,200 
Various (1)
$43VariousVarious43 
Total repayment of matured debt$1,907 
(1) Includes repayments of smaller long-term debt as it matured in several non-U.S. operations.
v3.20.4
Leases (Tables)
12 Months Ended
Jan. 31, 2021
Leases [Abstract]  
Lease, cost
The Company's lease costs recognized in the Consolidated Statement of Income consist of the following:
Fiscal years ended January 31,
(Amounts in millions)20212020
Operating lease cost(1)
$2,626 $2,670
Finance lease cost:
   Amortization of right-of-use assets583 480
   Interest on lease obligations298 306
Variable lease cost777 691
(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.
Schedule of other information relating to lease liabilities
Other lease information is as follows:
Fiscal years ended January 31,
(Dollar amounts in millions)20212020
Cash paid for amounts included in measurement of lease obligations:
Operating cash flows from operating leases$2,629 $2,614
Operating cash flows from finance leases286 278
Financing cash flows from finance leases546 485
Assets obtained in exchange for operating lease obligations2,131 2,151
Assets obtained in exchange for finance lease obligations1,547 1,081
As of January 31,
20212020
Weighted-average remaining lease term - operating leases(1)
12.5 years15.6 years
Weighted-average remaining lease term - finance leases(1)
13.7 years14.4 years
Weighted-average discount rate - operating leases(1)
6.1%5.4%
Weighted-average discount rate - finance leases(1)
6.8%8.6%
(1) For fiscal 2021, weighted average remaining lease term and discount rate amounts exclude operations classified as held for sale.
Lessee operating liability maturity
The aggregate annual lease obligations at January 31, 2021, are as follows:
(Amounts in millions)
Fiscal YearOperating LeasesFinance Leases
2022$2,189 $717 
20232,017 613 
20241,861 551 
20251,697 496 
20261,527 449 
Thereafter11,658 4,746 
Total undiscounted lease obligations20,949 7,572 
Less imputed interest(6,574)(3,234)
Net lease obligations$14,375 $4,338 
Lessee finance liability maturity
The aggregate annual lease obligations at January 31, 2021, are as follows:
(Amounts in millions)
Fiscal YearOperating LeasesFinance Leases
2022$2,189 $717 
20232,017 613 
20241,861 551 
20251,697 496 
20261,527 449 
Thereafter11,658 4,746 
Total undiscounted lease obligations20,949 7,572 
Less imputed interest(6,574)(3,234)
Net lease obligations$14,375 $4,338 
v3.20.4
Fair Value Measurements (Tables)
12 Months Ended
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:
(Amounts in millions)Fair Value as of January 31, 2021Fair Value as of January 31, 2020
Equity investments measured using Level 1 inputs$6,517 $2,715 
Equity investments measured using Level 2 inputs7,905 2,723 
Total$14,422 $5,438 
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:
 January 31, 2021January 31, 2020
(Amounts in millions)Notional AmountFair ValueNotional AmountFair Value
Receive fixed-rate, pay variable-rate interest rate swaps designated as fair value hedges$3,250 $166 (1)$4,000 $97 (1)
Receive fixed-rate, pay fixed-rate cross-currency swaps designated as net investment hedges1,250 311 (1)3,750 455 (1)
Receive fixed-rate, pay fixed-rate cross-currency swaps designated as cash flow hedges5,073 (394)(3)4,067 (696)(2)
Total$9,573 $83 $11,817 $(144)
(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.
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:
 January 31, 2021January 31, 2020
(Amounts in millions)Carrying ValueFair ValueCarrying ValueFair Value
Long-term debt, including amounts due within one year$44,309 $54,240 $49,076 $57,769 
v3.20.4
Taxes (Tables)
12 Months Ended
Jan. 31, 2021
Income Tax Disclosure [Abstract]  
Schedule of income before income taxes
The components of income (loss) before income taxes are as follows:
 Fiscal Years Ended January 31,
(Amounts in millions)202120202019
U.S.$20,003 $17,098 $15,875 
Non-U.S.561 3,018 (4,415)
Total income before income taxes$20,564 $20,116 $11,460 
Schedule of income tax provision
A summary of the provision for income taxes is as follows:
 Fiscal Years Ended January 31,
(Amounts in millions)202120202019
Current:
U.S. federal$2,991 $2,794 $2,763 
U.S. state and local742 587 493 
International1,127 1,205 1,495 
Total current tax provision4,860 4,586 4,751 
Deferred:
U.S. federal2,316 663 (361)
U.S. state and local23 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 
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:
 Fiscal Years Ended January 31,
 202120202019
U.S. statutory tax rate21.0 %21.0 %21.0 %
U.S. state income taxes, net of federal income tax benefit2.9 %2.2 %3.0 %
Impact of the Tax Act:
One-time transition tax— %— %3.6 %
Deferred tax effects— %— %(0.7)%
Income taxed outside the U.S.(0.1)%(1.0)%(3.4)%
Disposal and wind-down of certain business operations7.1 %— %6.7 %
Valuation allowance2.3 %2.3 %6.3 %
Net impact of repatriated international earnings(0.4)%0.4 %0.8 %
Federal tax credits(0.9)%(0.8)%(1.3)%
Enacted change in tax laws— %(1.9)%— %
Change in reserve for tax contingencies0.8 %2.5 %0.6 %
Other, net0.6 %(0.3)%0.8 %
Effective income tax rate33.3 %24.4 %37.4 %
Schedule of deferred tax balances
The significant components of the Company's deferred tax account balances are as follows:
 January 31,
(Amounts in millions)20212020
Deferred tax assets:
Loss and tax credit carryforwards$9,179 $9,056 
Accrued liabilities2,582 2,483 
Share-based compensation224 250 
Lease obligations4,450 4,098 
Other589 887 
Total deferred tax assets17,024 16,774 
Valuation allowances(8,782)(8,588)
Deferred tax assets, net of valuation allowances8,242 8,186 
Deferred tax liabilities:
Property and equipment4,802 4,364 
Acquired intangibles1,071 1,153 
Inventory1,235 1,414 
Lease right of use assets4,390 3,998 
Mark-to-market investments2,678 723 
Other675 824 
Total deferred tax liabilities14,851 12,476 
Net deferred tax liabilities$6,609 $4,290 
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:
  January 31,
(Amounts in millions)20212020
Balance Sheet classification
Assets:
Other long-term assets$1,836 $1,914 
Liabilities:
Deferred income taxes and other8,445 6,204 
Net deferred tax liabilities$6,609 $4,290 
Reconciliation of unrecognized tax benefits from continuing operations
A reconciliation of gross unrecognized tax benefits from continuing operations is as follows:
 Fiscal Years Ended January 31,
(Amounts in millions)202120202019
Gross unrecognized tax benefits, beginning of year$1,817 $1,305 $1,010 
Increases related to prior year tax positions92 516 620 
Decreases related to prior year tax positions(264)(15)(107)
Increases related to current year tax positions1,582 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 
v3.20.4
Retirement-Related Benefits (Tables)
12 Months Ended
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:
Fiscal Years Ended January 31,
(Amounts in millions)202120202019
Defined contribution plans:
U.S.$1,290 $1,184 $1,165 
International200 177 126 
Total contribution expense for defined contribution plans$1,490 $1,361 $1,291 
v3.20.4
Disposals, Acquisitions and Related Items (Tables)
12 Months Ended
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:
January 31,
(Amounts in millions)2021
Cash and cash equivalents$1,848 
Other current assets(1)
2,545 
Property and equipment, net13,193 
Operating lease right-of-use assets4,360 
Finance lease right-of-use assets, net1,395 
Goodwill2,211 
Other long-term assets1,063 
Valuation allowance against assets held for sale(2)
(7,420)
Total assets held for sale$19,195 
Current liabilities(3)
6,535 
Operating lease obligations, including amounts due within one year4,245 
Finance lease obligations, including amounts due within one year1,495 
Deferred income taxes and other459 
Total liabilities held for sale$12,734 
(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.
v3.20.4
Segments and Disaggregated Revenue (Tables)
12 Months Ended
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:
(Amounts in millions)
Walmart U.S.Walmart InternationalSam's ClubCorporate and supportConsolidated
Fiscal Year Ended January 31, 2021
Net sales$369,963 $121,360 $63,910 $— $555,233 
Operating income (loss)19,116 3,660 1,906 (2,134)22,548 
Interest, net(2,194)
Other gains and (losses)210 
Income before income taxes$20,564 
Total assets$113,490 $109,445 $13,415 $16,146 $252,496 
Depreciation and amortization6,561 2,633 599 1,359 11,152 
Capital expenditures6,131 2,436 488 1,209 10,264 
Fiscal Year Ended January 31, 2020
Net sales$341,004 $120,130 $58,792 $— $519,926 
Operating income (loss)17,380 3,370 1,642 (1,824)20,568 
Interest, net(2,410)
Other gains and (losses)1,958 
Income before income taxes$20,116 
Total assets$110,353 $105,811 $13,494 $6,837 $236,495 
Depreciation and amortization6,408 2,682 605 1,292 10,987 
Capital expenditures6,315 2,801 525 1,064 10,705 
Fiscal Year Ended January 31, 2019
Net sales$331,666 $120,824 $57,839 $— $510,329 
Operating income (loss)17,386 4,883 1,520 (1,832)21,957 
Interest, net(2,129)
Loss on extinguishment of debt(8,368)
Income before income taxes$11,460 
Total assets$105,114 $97,066 $12,893 $4,222 $219,295 
Depreciation and amortization6,201 2,590 639 1,248 10,678 
Capital expenditures6,034 2,661 450 1,199 10,344 
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:
Fiscal Years Ended January 31,
(Amounts in millions)202120202019
Revenues
U.S. operations$436,649 $402,532 $392,265 
Non-U.S. operations122,502 121,432 122,140 
Total revenues$559,151 $523,964 $514,405 
Long-lived assets
U.S. operations$87,068 $86,944 $81,144 
Non-U.S. operations22,780 40,105 30,251 
Total long-lived assets$109,848 $127,049 $111,395 
Walmart U S [Member]  
Disaggregation of Revenue [Line Items]  
Disaggregation of revenue
(Amounts in millions)Fiscal Years Ended January 31,
Walmart U.S. net sales by merchandise category20212020
Grocery$208,413 $192,428 
General merchandise119,406 108,687 
Health and wellness38,522 36,558 
Other categories3,622 3,331 
Total$369,963 $341,004 
Walmart International [Member]  
Disaggregation of Revenue [Line Items]  
Disaggregation of revenue
(Amounts in millions)Fiscal Years Ended January 31,
Walmart International net sales by market20212020
Mexico and Central America$32,642 $33,350 
United Kingdom29,234 29,243 
Canada19,991 18,420 
China11,430 10,671 
Other28,063 28,446 
Total$121,360 $120,130 
Sams Club [Member]  
Disaggregation of Revenue [Line Items]  
Disaggregation of revenue
(Amounts in millions)Fiscal Years Ended January 31,
Sam’s Club net sales by merchandise category20212020
Grocery and consumables$42,148 $35,043 
Fuel, tobacco and other categories7,838 10,571 
Home and apparel7,092 6,744 
Health and wellness3,792 3,372 
Technology, office and entertainment3,040 3,062 
Total$63,910 $58,792 
v3.20.4
Subsequent Event (Tables)
12 Months Ended
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:
Record Date  Payable Date
March 19, 2021  April 5, 2021
May 7, 2021  June 1, 2021
August 13, 2021  September 7, 2021
December 10, 2021  January 3, 2022
v3.20.4
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    
v3.20.4
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
v3.20.4
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
v3.20.4
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
v3.20.4
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          
v3.20.4
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
v3.20.4
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
v3.20.4
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
v3.20.4
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
v3.20.4
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
v3.20.4
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
v3.20.4
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
v3.20.4
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    
v3.20.4
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
v3.20.4
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  
v3.20.4
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      
v3.20.4
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                
v3.20.4
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
v3.20.4
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%
v3.20.4
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
v3.20.4
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
v3.20.4
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  
v3.20.4
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  
v3.20.4
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
v3.20.4
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
v3.20.4
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
v3.20.4
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      
v3.20.4
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%
v3.20.4
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
v3.20.4
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
v3.20.4
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
v3.20.4
Contingencies (Details)
claim in Thousands
Jan. 31, 2021
claim
Asda equal value lawsuit [Member]  
Loss Contingencies [Line Items]  
Loss contingency, pending claims, number 40
v3.20.4
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    
v3.20.4
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
v3.20.4
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  
v3.20.4
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  
v3.20.4
Segments and Disaggregated Revenue (Narrative) (Details)
12 Months Ended
Jan. 31, 2021
segment
Segment Reporting Information, Profit (Loss) [Abstract]  
Number of reportable segments 3
v3.20.4
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
v3.20.4
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
v3.20.4
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  
v3.20.4
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  
v3.20.4
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  
v3.20.4
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