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Walmart Inc. (WMT)


Income Statement

Difficulty: Beginner

The income statement presents information on the financial results of a company’s business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Walmart Inc., Consolidated Income Statement

US$ in millions

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12 months ended Jan 31, 2019 Jan 31, 2018 Jan 31, 2017 Jan 31, 2016 Jan 31, 2015 Jan 31, 2014
Net sales 510,329  495,761  481,317  478,614  482,229  473,076 
Cost of sales (385,301) (373,396) (361,256) (360,984) (365,086) (358,069)
Gross profit 125,028  122,365  120,061  117,630  117,143  115,007 
Membership and other income 4,076  4,582  4,556  3,516  3,422  3,218 
Operating, selling, general and administrative expenses (107,147) (106,510) (101,853) (97,041) (93,418) (91,353)
Operating income 21,957  20,437  22,764  24,105  27,147  26,872 
Interest expense, debt, capital lease and financing obligations (2,346) (2,330) (2,367) (2,548) (2,461) (2,335)
Interest income 217  152  100  81  113  119 
Interest, net (2,129) (2,178) (2,267) (2,467) (2,348) (2,216)
Loss on extinguishment of debt —  (3,136) —  —  —  — 
Other gains and (losses) (8,368) —  —  —  —  — 
Income from continuing operations before income taxes 11,460  15,123  20,497  21,638  24,799  24,656 
Provision for income taxes (4,281) (4,600) (6,204) (6,558) (7,985) (8,105)
Income from continuing operations 7,179  10,523  14,293  15,080  16,814  16,551 
Income from discontinued operations, net of income taxes —  —  —  —  285  144 
Consolidated net income 7,179  10,523  14,293  15,080  17,099  16,695 
Consolidated net income attributable to noncontrolling interest (509) (661) (650) (386) (736) (673)
Consolidated net income attributable to Walmart 6,670  9,862  13,643  14,694  16,363  16,022 

Based on: 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), 10-K (filing date: 2014-03-21).

Item Description The company
Net sales Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Walmart Inc.’s net sales increased from 2017 to 2018 and from 2018 to 2019.
Operating income The net result for the period of deducting operating expenses from operating revenues. Walmart Inc.’s operating income declined from 2017 to 2018 but then increased from 2018 to 2019 not reaching 2017 level.
Income from continuing operations before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Walmart Inc.’s income from continuing operations before income taxes declined from 2017 to 2018 and from 2018 to 2019.
Consolidated net income attributable to Walmart The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Walmart Inc.’s consolidated net income attributable to Walmart declined from 2017 to 2018 and from 2018 to 2019.