Stock Analysis on Net
Stock Analysis on Net
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Walmart Inc. (NYSE:WMT)

Adjustments to Financial Statements

Advanced level

Adjustments to Current Assets

Walmart Inc., adjusted current assets

US$ in millions

Microsoft Excel LibreOffice Calc
Jan 31, 2020 Jan 31, 2019 Jan 31, 2018 Jan 31, 2017 Jan 31, 2016 Jan 31, 2015
As Reported
Current assets 61,806  61,897  59,664  57,689  60,239  63,278 
Adjustments
Less: Current deferred tax assets (included in Prepaid expenses and other)1 —  —  —  —  —  728 
After Adjustment
Adjusted current assets 61,806  61,897  59,664  57,689  60,239  62,550 

Based on: 10-K (filing date: 2020-03-20), 10-K (filing date: 2019-03-28), 10-K (filing date: 2018-03-30), 10-K (filing date: 2017-03-31), 10-K (filing date: 2016-03-30), 10-K (filing date: 2015-04-01).

1 Current deferred tax assets (included in Prepaid expenses and other). See details »


Adjustments to Total Assets

Walmart Inc., adjusted total assets

US$ in millions

Microsoft Excel LibreOffice Calc
Jan 31, 2020 Jan 31, 2019 Jan 31, 2018 Jan 31, 2017 Jan 31, 2016 Jan 31, 2015
As Reported
Total assets 236,495  219,295  204,522  198,825  199,581  203,706 
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)1 —  8,533  10,267  11,626  13,339  9,688 
Less: Current deferred tax assets (included in Prepaid expenses and other)2 —  —  —  —  —  728 
Less: Long-term deferred tax assets (included in Other long-term assets)3 1,914  1,796  1,879  1,565  1,504  1,033 
After Adjustment
Adjusted total assets 234,581  226,032  212,910  208,886  211,416  211,633 

Based on: 10-K (filing date: 2020-03-20), 10-K (filing date: 2019-03-28), 10-K (filing date: 2018-03-30), 10-K (filing date: 2017-03-31), 10-K (filing date: 2016-03-30), 10-K (filing date: 2015-04-01).

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

2 Current deferred tax assets (included in Prepaid expenses and other). See details »

3 Long-term deferred tax assets (included in Other long-term assets). See details »


Adjustments to Current Liabilities

Walmart Inc., adjusted current liabilities

US$ in millions

Microsoft Excel LibreOffice Calc
Jan 31, 2020 Jan 31, 2019 Jan 31, 2018 Jan 31, 2017 Jan 31, 2016 Jan 31, 2015
As Reported
Current liabilities 77,790  77,477  78,521  66,928  64,619  65,272 
Adjustments
Less: Current deferred tax liabilities (included in Accrued liabilities)1 —  —  —  —  —  56 
After Adjustment
Adjusted current liabilities 77,790  77,477  78,521  66,928  64,619  65,216 

Based on: 10-K (filing date: 2020-03-20), 10-K (filing date: 2019-03-28), 10-K (filing date: 2018-03-30), 10-K (filing date: 2017-03-31), 10-K (filing date: 2016-03-30), 10-K (filing date: 2015-04-01).

1 Current deferred tax liabilities (included in Accrued liabilities). See details »


Adjustments to Total Liabilities

Walmart Inc., adjusted total liabilities

US$ in millions

Microsoft Excel LibreOffice Calc
Jan 31, 2020 Jan 31, 2019 Jan 31, 2018 Jan 31, 2017 Jan 31, 2016 Jan 31, 2015
As Reported
Total liabilities 154,943  139,661  123,700  118,290  115,970  117,769 
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)1 —  8,533  10,267  11,626  13,339  9,688 
Less: Current deferred tax liabilities (included in Accrued liabilities)2 —  —  —  —  —  56 
Less: Long-term deferred tax liabilities (included in Deferred income taxes and other)3 6,204  6,296  3,831  4,333  3,357  4,671 
After Adjustment
Adjusted total liabilities 148,739  141,898  130,136  125,583  125,952  122,730 

Based on: 10-K (filing date: 2020-03-20), 10-K (filing date: 2019-03-28), 10-K (filing date: 2018-03-30), 10-K (filing date: 2017-03-31), 10-K (filing date: 2016-03-30), 10-K (filing date: 2015-04-01).

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

2 Current deferred tax liabilities (included in Accrued liabilities). See details »

3 Long-term 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 LibreOffice Calc
Jan 31, 2020 Jan 31, 2019 Jan 31, 2018 Jan 31, 2017 Jan 31, 2016 Jan 31, 2015
As Reported
Total Walmart shareholders’ equity 74,669  72,496  77,869  77,798  80,546  81,394 
Adjustments
Less: Net deferred tax assets (liabilities)1 (4,290) (4,500) (1,952) (2,768) (1,853) (2,966)
Add: Noncontrolling interest 6,883  7,138  2,953  2,737  3,065  4,543 
After Adjustment
Adjusted total equity 85,842  84,134  82,774  83,303  85,464  88,903 

Based on: 10-K (filing date: 2020-03-20), 10-K (filing date: 2019-03-28), 10-K (filing date: 2018-03-30), 10-K (filing date: 2017-03-31), 10-K (filing date: 2016-03-30), 10-K (filing date: 2015-04-01).

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


Adjustments to Capitalization Table

Walmart Inc., adjusted capitalization table

US$ in millions

Microsoft Excel LibreOffice Calc
Jan 31, 2020 Jan 31, 2019 Jan 31, 2018 Jan 31, 2017 Jan 31, 2016 Jan 31, 2015
As Reported
Short-term borrowings 575  5,225  5,257  1,099  2,708  1,592 
Long-term debt due within one year 5,362  1,876  3,738  2,256  2,745  4,810 
Finance lease obligations due within one year 511  —  —  —  —  — 
Capital lease and financing obligations due within one year —  729  667  565  551  287 
Long-term debt, excluding due within one year 43,714  43,520  30,045  36,015  38,214  41,086 
Long-term finance lease obligations, excluding due within one year 4,307  —  —  —  —  — 
Long-term capital lease and financing obligations, excluding due within one year —  6,683  6,780  6,003  5,816  2,606 
Total reported debt 54,469  58,033  46,487  45,938  50,034  50,381 
Total Walmart shareholders’ equity 74,669  72,496  77,869  77,798  80,546  81,394 
Total reported capital 129,138  130,529  124,356  123,736  130,580  131,775 
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)1 —  8,533  10,267  11,626  13,339  9,688 
Add: Operating lease obligations due within one year2 1,793  —  —  —  —  — 
Add: Long-term operating lease obligations, excluding due within one year3 16,171  —  —  —  —  — 
Adjusted total debt 72,433  66,566  56,754  57,564  63,373  60,069 
Adjustments to Equity
Less: Net deferred tax assets (liabilities)4 (4,290) (4,500) (1,952) (2,768) (1,853) (2,966)
Add: Noncontrolling interest 6,883  7,138  2,953  2,737  3,065  4,543 
Adjusted total equity 85,842  84,134  82,774  83,303  85,464  88,903 
After Adjustment
Adjusted total capital 158,275  150,700  139,528  140,867  148,837  148,972 

Based on: 10-K (filing date: 2020-03-20), 10-K (filing date: 2019-03-28), 10-K (filing date: 2018-03-30), 10-K (filing date: 2017-03-31), 10-K (filing date: 2016-03-30), 10-K (filing date: 2015-04-01).

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 LibreOffice Calc
12 months ended: Jan 31, 2020 Jan 31, 2019 Jan 31, 2018 Jan 31, 2017 Jan 31, 2016 Jan 31, 2015
As Reported
Consolidated net income attributable to Walmart 14,881  6,670  9,862  13,643  14,694  16,363 
Adjustments
Add: Deferred income tax expense (benefit)1 329  (470) (180) 745  (1,026) (519)
Less: Income from discontinued operations, net of income taxes —  —  —  —  —  285 
Add: Other comprehensive income (loss), net of income taxes (1,235) (113) 4,220  (2,845) (4,970) (4,718)
Add: Comprehensive income (loss), net of tax, attributable to noncontrolling interest 348  321  830  440  (155) 190 
After Adjustment
Adjusted consolidated net income 14,323  6,408  14,732  11,983  8,543  11,031 

Based on: 10-K (filing date: 2020-03-20), 10-K (filing date: 2019-03-28), 10-K (filing date: 2018-03-30), 10-K (filing date: 2017-03-31), 10-K (filing date: 2016-03-30), 10-K (filing date: 2015-04-01).

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