Stock Analysis on Net

Walmart Inc. (NYSE:WMT)

Adjustments to Financial Statements

Microsoft Excel

Adjustments to Total Assets

Walmart Inc., adjusted total assets

US$ in millions

Microsoft Excel
Jan 31, 2024 Jan 31, 2023 Jan 31, 2022 Jan 31, 2021 Jan 31, 2020 Jan 31, 2019
As Reported
Total assets 252,399 243,197 244,860 252,496 236,495 219,295
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)1 8,533
Less: Deferred tax assets (included in Other long-term assets)2 1,663 1,503 1,473 1,836 1,914 1,796
After Adjustment
Adjusted total assets 250,736 241,694 243,387 250,660 234,581 226,032

Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31).

1 Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

2 Deferred tax assets (included in Other long-term assets). See details »


Adjustments to Total Liabilities

Walmart Inc., adjusted total liabilities

US$ in millions

Microsoft Excel
Jan 31, 2024 Jan 31, 2023 Jan 31, 2022 Jan 31, 2021 Jan 31, 2020 Jan 31, 2019
As Reported
Total liabilities 161,828 159,206 152,969 164,965 154,943 139,661
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)1 8,533
Less: Deferred tax liabilities (included in Deferred income taxes and other)2 7,248 7,269 6,917 8,445 6,204 6,296
After Adjustment
Adjusted total liabilities 154,580 151,937 146,052 156,520 148,739 141,898

Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31).

1 Operating lease liability (before adoption of FASB Topic 842). See details »

2 Deferred tax liabilities (included in Deferred income taxes and other). See details »


Adjustments to Stockholders’ Equity

Walmart Inc., adjusted total Walmart shareholders’ equity

US$ in millions

Microsoft Excel
Jan 31, 2024 Jan 31, 2023 Jan 31, 2022 Jan 31, 2021 Jan 31, 2020 Jan 31, 2019
As Reported
Total Walmart shareholders’ equity 83,861 76,693 83,253 80,925 74,669 72,496
Adjustments
Less: Net deferred tax assets (liabilities)1 (5,585) (5,766) (5,444) (6,609) (4,290) (4,500)
Add: Redeemable noncontrolling interest 222 237
Add: Noncontrolling interest 6,488 7,061 8,638 6,606 6,883 7,138
After Adjustment
Adjusted total equity 96,156 89,757 97,335 94,140 85,842 84,134

Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31).

1 Net deferred tax assets (liabilities). See details »


Adjustments to Capitalization Table

Walmart Inc., adjusted capitalization table

US$ in millions

Microsoft Excel
Jan 31, 2024 Jan 31, 2023 Jan 31, 2022 Jan 31, 2021 Jan 31, 2020 Jan 31, 2019
As Reported
Short-term borrowings 878 372 410 224 575 5,225
Long-term debt due within one year 3,447 4,191 2,803 3,115 5,362 1,876
Finance lease obligations due within one year 725 567 511 491 511 729
Long-term debt, excluding due within one year 36,132 34,649 34,864 41,194 43,714 43,520
Long-term finance lease obligations, excluding due within one year 5,709 4,843 4,243 3,847 4,307 6,683
Total reported debt 46,891 44,622 42,831 48,871 54,469 58,033
Total Walmart shareholders’ equity 83,861 76,693 83,253 80,925 74,669 72,496
Total reported capital 130,752 121,315 126,084 129,796 129,138 130,529
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)1 8,533
Add: Operating lease obligations due within one year2 1,487 1,473 1,483 1,466 1,793
Add: Long-term operating lease obligations, excluding due within one year3 12,943 12,828 13,009 12,909 16,171
Adjusted total debt 61,321 58,923 57,323 63,246 72,433 66,566
Adjustments to Equity
Less: Net deferred tax assets (liabilities)4 (5,585) (5,766) (5,444) (6,609) (4,290) (4,500)
Add: Redeemable noncontrolling interest 222 237
Add: Noncontrolling interest 6,488 7,061 8,638 6,606 6,883 7,138
Adjusted total equity 96,156 89,757 97,335 94,140 85,842 84,134
After Adjustment
Adjusted total capital 157,477 148,680 154,658 157,386 158,275 150,700

Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31).

1 Operating lease liability (before adoption of FASB Topic 842). See details »

2 Operating lease obligations due within one year. See details »

3 Long-term operating lease obligations, excluding due within one year. See details »

4 Net deferred tax assets (liabilities). See details »


Adjustments to Reported Income

Walmart Inc., adjusted consolidated net income attributable to Walmart

US$ in millions

Microsoft Excel
12 months ended: Jan 31, 2024 Jan 31, 2023 Jan 31, 2022 Jan 31, 2021 Jan 31, 2020 Jan 31, 2019
As Reported
Consolidated net income attributable to Walmart 15,511 11,680 13,673 13,510 14,881 6,670
Adjustments
Add: Deferred income tax expense (benefit)1 (171) 430 (759) 1,998 329 (470)
Add: Other comprehensive income (loss), net of income taxes 944 (2,056) 2,770 826 (1,235) (113)
Add: Comprehensive income (loss), net of tax, attributable to noncontrolling interest 1,325 (792) 37 (17) 348 321
After Adjustment
Adjusted consolidated net income 17,609 9,262 15,721 16,317 14,323 6,408

Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31).

1 Deferred income tax expense (benefit). See details »