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40 Wal-Mart 2009 Annual Report
Notes to Consolidated Financial Statements
4 Accumulated Other Comprehensive Income
Comprehensive income is net income plus certain other items that are recorded directly to shareholders’ equity. Amounts included in
accumulated other comprehensive income for the Company’s derivative instruments and minimum pension liabilities are recorded net
of the related income tax e ects. The following table gives further detail regarding changes in the composition of accumulated other
comprehensive income during  scal 2009, 2008 and 2007:
Foreign Derivative Minimum
(Amounts in millions) Currency Translation Instruments Pension Liability Total
Balance at January 31, 2006 $ 1,291 $ (6) $(232) $ 1,053
Foreign currency translation adjustment 1,584 1,584
Change in fair value of hedge instruments 123 123
Reclassi cation to earnings $(117) (117)
Subsidiary minimum pension liability (15) (15)
Adjustment for initial application of SFAS 158, net of tax (120) (120)
Balance at January 31, 2007 $ 2,875 $ — $(367) $ 2,508
Foreign currency translation adjustment 1,218 1,218
Subsidiary minimum pension liability 138 138
Balance at January 31, 2008 $ 4,093 $ — $(229) $ 3,864
Foreign currency translation adjustment (6,489) (6,489)
Change in fair value of hedge instruments (17) (17)
Subsidiary minimum pension liability (46) (46)
Balance at January 31, 2009 $(2,396) $ (17) $(275) $(2,688)
The foreign currency translation amount includes a net translation gain of $1.2 billion, a loss of $9 million, and a gain of $143 million at January 31,
2009, 2008 and 2007, respectively, related to net investment hedges of our operations in the United Kingdom and Japan.
In conjunction with the disposition of our operations in South Korea and Germany, the Company reclassi ed $603 million from foreign currency
translation amounts included in accumulated other comprehensive income into discontinued operations within our Consolidated Statements
of Income for  scal year 2007.
Accumulated other comprehensive income for  scal 2009 was adversely a ected by foreign currency exchange rate  uctuations.
5 Income Taxes
Income Tax Provision
Fiscal Year Ended January 31,
(Amounts in millions) 2009 2008 2007
Current:
Federal $4,771 $5,145 $4,871
State and local 564 524 522
International 1,229 1,228 872
Total current tax provision 6,564 6,897 6,265
Deferred:
Federal 614 12 (15)
State and local 41 6 4
International (74) (26) 100
Total deferred tax provision 581 (8) 89
Total provision for income taxes $7,145 $6,889 $6,354
Income from Continuing Operations
Income from continuing operations before income taxes and minority
interest by jurisdiction is as follows:
Fiscal Year Ended January 31,
(Amounts in millions) 2009 2008 2007
Domestic $16,239 $15,820 $15,158
International 4,659 4,338 3,810
Total income from continuing
operations before income
taxes and minority interest $20,898 $20,158 $18,968