Walmart 2007 Annual Report Download - page 59

Wal-Mart 2007 Annual Report 57
11 Segments
The Company and its subsidiaries are principally engaged in the continuing operations of retail stores located in all 50 states of the United
States, Argentina, Brazil, Canada, Puerto Rico and the United Kingdom, through joint ventures in China, and through majority-owned subsid-
iaries in Central America, Japan and Mexico. The Company identi es segments based on the information used by our chief operating decision
maker to analyze performance and to allocate resources among each business unit of the Company.
The Wal-Mart Stores segment includes the Company’s supercenters, discount stores and Neighborhood Markets in the United States, as well as
walmart.com. The Sam’s Club segment includes the warehouse membership clubs in the United States as well as samsclub.com. The International
segment consists of the Company’s operations outside of the United States. The amounts under the caption “Other” in the table below are
unallocated corporate assets and overhead. For the periods prior to the Company’s majority ownership of Seiyu and CARHCO, the Company’s
portion of the results of our unconsolidated minority interest in those entities was also included under the caption “Other.”
The Company measures the pro t of its segments as “segment operating income,” which is de ned as income from continuing operations before
net interest expense, income taxes and minority interest and excludes unallocated corporate overhead and results of discontinued operations.
Information on segments and the reconciliation to income from continuing operations before income taxes, minority interest and discontinued
operations are as follows (in millions):
Fiscal Year Ended January 31, 2007 Wal-Mart Stores Sam’s Club International Other Consolidated
Revenues from external customers $226,294 $41,582 $77,116 $ – $344,992
Intercompany real estate charge (income) 3,896 587 – (4,483) –
Depreciation and amortization 2,212 312 1,286 1,649 5,459
Operating income (loss) 17,029 1,512 4,259 (2,303) 20,497
Interest expense, net (1,529)
Income from continuing operations before
income taxes and minority interest $ 18,968
Total assets of continuing operations $ 34,649 $ 6,345 $55,989 $54,210 $151,193
Fiscal Year Ended January 31, 2006 Wal-Mart Stores Sam’s Club International Other Consolidated
Revenues from external customers $ 209,910 $ 39,798 $ 59,237 $ – $ 308,945
Intercompany real estate charge (income) 3,454 547 – (4,001) –
Depreciation and amortization 1,922 296 971 1,456 4,645
Operating income (loss) 15,324 1,385 3,506 (1,502) 18,713
Interest expense, net (1,178)
Income from continuing operations before
income taxes and minority interest $ 17,535
Total assets of continuing operations $ 32,809 $ 5,686 $ 49,018 $ 48,111 $ 135,624
Fiscal Year Ended January 31, 2005 Wal-Mart Stores Sam’s Club International Other Consolidated
Revenues from external customers $ 191,826 $ 37,119 $ 52,543 $ – $ 281,488
Intercompany real estate charge (income) 2,754 513 – (3,267) –
Depreciation and amortization 1,561 274 840 1,510 4,185
Operating income (loss) 14,163 1,280 3,197 (1,340) 17,300
Interest expense, net (980)
Income from continuing operations before
income taxes and minority interest $ 16,320
Total assets of continuing operations $ 29,489 $ 5,685 $ 37,966 $ 43,999 $ 117,139
Certain information for  scal years 2006 and 2005 has been reclassi ed and conforms to the current year presentation.
Notes to Consolidated Financial Statements