Walmart 1998 Annual Report Download - page 20

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20
11-YEAR FINANCIAL SUMMARY
(Dollar amounts in millions except per share data) 1998 1997 1996
Net sales $117,958 $104,859 $ 93,627
Net sales increase 12% 12 % 13 %
Comparative store sales increase 6% 5 % 4 %
Other income-net 1,341 1,319 1,146
Cost of sales 93,438 83,510 74,505
Operating, selling and general and administrative expenses 19,358 16,946 15,021
Interest costs:
Debt 555 629 692
Capital leases 229 216 196
Provision for income taxes 2,115 1,794 1,606
Minority interest and equity in unconsolidated subsidiaries (78) (27) (13)
Net income 3,526 3,056 2,740
Per share of common stock:
Net income – Basic and Dilutive $1.56 1.33 1.19
Dividends 0.27 0.21 .20
Financial Position
Current assets $19,352 $17,993 $ 17,331
Inventories at replacement cost 16,845 16,193 16,300
Less LIFO reserve 348 296 311
Inventories at LIFO cost 16,497 15,897 15,989
Net property, plant and equipment and capital leases 23,606 20,324 18,894
Total assets 45,384 39,604 37,541
Current liabilities 14,460 10,957 11,454
Long-term debt 7,191 7,709 8,508
Long-term obligations under capital leases 2,483 2,307 2,092
Shareholders’ equity 18,503 17,143 14,756
Financial Ratios
Current ratio 1.3 1.6 1.5
Inventories/working capital 3.4 2.3 2.7
Return on assets* 8.5% 7.9% 7.8 %
Return on shareholders’ equity** 19.8% 19.2 % 19.9 %
Other Year-End Data
Number of domestic Wal-Mart stores 1,921 1,960 1,995
Number of domestic Supercenters 441 344 239
Number of domestic SAM’S Club units 443 436 433
International units 601 314 276
Number of associates 825,000 728,000 675,000
Number of shareholders 245,884 257,215 244,483
* Net income before minority interest and equity in unconsolidated subsidiaries/average assets
** Net income/average shareholders’ equity