Walmart 2009 Annual Report Download - page 51

49Wal-Mart 2009 Annual Report
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.
From time to time, we revise the measurement of each segment’s operating income as changes in business needs dictate. When we do, we
restate all periods presented for comparative purposes. Information on segments and the reconciliation to consolidated income from continu-
ing operations before income taxes, minority interest and discontinued operations appear in the following tables.
(Amounts in millions)
Fiscal Year Ended January 31, 2009 Walmart U.S. International Sam’s Club Other Consolidated
Revenues from external customers $255,745 $98,645 $46,854 $ — $401,244
Operating income (loss) 18,763 4,940 1,610 (2,515) 22,798
Interest expense, net (1,900)
Income from continuing operations before
income taxes and minority interest $ 20,898
Total assets of continuing operations $ 84,361 $59,903 $12,339 $ 6,631 $163,234
Depreciation and amortization 4,013 1,872 527 327 6,739
Fiscal Year Ended January 31, 2008 Walmart U.S. International Sam’s Club Other Consolidated
Revenues from external customers $ 239,529 $ 90,421 $ 44,357 $ — $ 374,307
Operating income (loss) 17,516 4,725 1,618 (1,907) 21,952
Interest expense, net (1,794)
Income from continuing operations before
income taxes and minority interest $ 20,158
Total assets of continuing operations $ 84,286 $ 61,994 $ 11,722 $ 4,545 $ 162,547
Depreciation and amortization 3,813 1,684 507 313 6,317
Fiscal Year Ended January 31, 2007 Walmart U.S. International Sam’s Club Other Consolidated
Revenues from external customers $ 226,294 $ 76,883 $ 41,582 $ — $ 344,759
Operating income (loss) 16,620 4,265 1,480 (1,868) 20,497
Interest expense, net (1,529)
Income from continuing operations before
income taxes and minority interest $ 18,968
Total assets of continuing operations $ 79,040 $ 54,974 $ 11,448 $ 5,196 $ 150,658
Depreciation and amortization 3,323 1,409 475 252 5,459
In the United States, long-lived assets, net, excluding goodwill and
other assets and deferred charges were $68.0 billion, $66.8 billion and
$62.3 billion as of January 31, 2009, 2008 and 2007, respectively. In the
United States, additions to long-lived assets were $7.5 billion, $10.4 bil-
lion and $12.2 billion in  scal 2009, 2008 and 2007, respectively.
Outside of the United States, long-lived assets, net, excluding goodwill
and other assets and deferred charges were $27.6 billion, $30.1 billion
and $26.0 billion as of  scal 2009, 2008 and 2007, respectively. Outside
of the United States, additions to long-lived assets were $4.0 billion,
$4.5 billion and $3.5 billion in  scal 2009, 2008 and 2007, respectively.
The International segment includes all real estate outside the United
States. The operations of the Company’s ASDA subsidiary are signi -
cant in comparison to the total operations of the International seg-
ment. ASDA’s sales during  scal 2009, 2008 and 2007 were $34.1 billion,
$33.4 billion and $28.9 billion, respectively. The depreciation of the
British pound against the U.S. dollar during fiscal 2009 adversely
impacted ASDA’s sales in that year by $3.0 billion. ASDA’s long-lived
assets, consisting primarily of property and equipment, net, totaled
$10.8 billion, $14.2 billion and $13.2 billion at January 31, 2009, 2008
and 2007, respectively.