Walmart 1999 Annual Report Download - page 18

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18
11-YEAR FINANCIAL SUMMARY
(Dollar amounts in millions except per share data) 1999 1998 1997
Net sales $ 137,634 $ 117,958 $ 104,859
Net sales increase 17% 12% 12%
Comparative store sales increase 9% 6% 5%
Other income-net 1,574 1,341 1,319
Cost of sales 108,725 93,438 83,510
Operating, selling and general and administrative expenses 22,363 19,358 16,946
Interest costs:
Debt 529 555 629
Capital leases 268 229 216
Provision for income taxes 2,740 2,115 1,794
Minority interest and equity in unconsolidated subsidiaries (153) (78) (27)
Net income 4,430 3,526 3,056
Per share of common stock*:
Net income – Basic and Dilutive 0.99 0.78 0.67
Dividends 0.16 0.14 0.11
Financial Position
Current assets $ 21,132 $ 19,352 $ 17,993
Inventories at replacement cost 17,549 16,845 16,193
Less LIFO reserve 473 348 296
Inventories at LIFO cost 17,076 16,497 15,897
Net property, plant and equipment and capital leases 25,973 23,606 20,324
Total assets 49,996 45,384 39,604
Current liabilities 16,762 14,460 10,957
Long-term debt 6,908 7,191 7,709
Long-term obligations under capital leases 2,699 2,483 2,307
Shareholders’ equity 21,112 18,503 17,143
Financial Ratios
Current ratio 1.3 1.3 1.6
Inventories/working capital 3.9 3.4 2.3
Return on assets** 9.6% 8.5% 7.9%
Return on shareholders’ equity*** 22.4% 19.8% 19.2 %
Other Year-End Data
Number of domestic Wal-Mart stores 1,869 1,921 1,960
Number of domestic Supercenters 564 441 344
Number of domestic SAM’S Club units 451 443 436
International units 715 601 314
Number of Associates 910,000 825,000 728,000
Number of Shareholders 261,170 245,884 257,215
* Restated to reflect the two-for-one stock split announced March 4, 1999, with date of record of March 19, 1999. The stock split is payable on April 19, 1999.
** Net income before minority interest and equity in unconsolidated subsidiaries/average assets
*** Net income/average shareholders’ equity