Walmart Inc., balance sheet: property, plant and equipment

US$ in millions

	Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020	Jan 31, 2019
Land	19,562)	19,317)	19,204)	19,308)	24,619)	24,526)
Buildings and improvements	111,767)	104,554)	100,376)	97,582)	105,674)	101,006)
Fixtures and equipment	72,161)	65,235)	60,282)	56,639)	58,607)	54,488)
Transportation equipment	2,979)	2,462)	2,263)	2,301)	2,377)	2,316)
Construction in process	13,390)	10,802)	7,199)	4,741)	3,751)	3,474)
Property and equipment, gross	219,859)	202,370)	189,324)	180,571)	195,028)	185,810)
Accumulated depreciation	(109,049)	(101,610)	(94,809)	(88,370)	(89,820)	(81,493)
Property and equipment, net	110,810)	100,760)	94,515)	92,201)	105,208)	104,317)

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Item	Description	The company
Property and equipment, gross	Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	Walmart Inc. property and equipment, gross increased from 2022 to 2023 and from 2023 to 2024.
Property and equipment, net	Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	Walmart Inc. property and equipment, net increased from 2022 to 2023 and from 2023 to 2024.

Walmart Inc., asset age ratios

		Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020	Jan 31, 2019
	Average age ratio	54.44%	55.51%	55.73%	54.80%	52.71%	50.53%

Asset age ratio	Description	The company
Average age ratio	As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient.	Walmart Inc. average age ratio of depreciable property, plant and equipment improved from 2022 to 2023 and from 2023 to 2024.

	Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020	Jan 31, 2019
Selected Financial Data (US$ in millions)
Accumulated depreciation	109,049)	101,610)	94,809)	88,370)	89,820)	81,493)
Property and equipment, gross	219,859)	202,370)	189,324)	180,571)	195,028)	185,810)
Land	19,562)	19,317)	19,204)	19,308)	24,619)	24,526)
Asset Age Ratio
Average age¹	54.44%	55.51%	55.73%	54.80%	52.71%	50.53%

2024 Calculations

¹ Average age = 100 × Accumulated depreciation ÷ (Property and equipment, gross – Land)
= 100 × 109,049 ÷ (219,859 – 19,562) = 54.44%

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Asset age ratio	Description	The company
Average age	As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient.	Walmart Inc. average age ratio of depreciable property, plant and equipment improved from 2022 to 2023 and from 2023 to 2024.

Walmart Inc. (NYSE:WMT)

Analysis of Property, Plant and Equipment