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46 Walmart 2011 Annual Report
Other Taxes
Additionally, the Company is subject to tax examinations for payroll,
value added, sales-based and other non-income taxes. A number of
these examinations are ongoing and, in certain cases, have resulted
in assessments from the taxing authorities. Where appropriate, the
Company has made accruals for these matters, which are reected in the
Company’s consolidated nancial statements. While these matters are
individually immaterial, a group of related matters, if decided adversely
to the Company, may result in a liability material to the Company’s
consolidated nancial statements.
Notes to Consolidated Financial Statements
11 Accumulated Other Comprehensive Income (Loss)
Amounts included in accumulated other comprehensive income (loss) for the Company’s derivative instruments and minimum pension liabilities
are recorded net of their related income tax eects. The following table provides further detail regarding changes in the composition of accumulated
other comprehensive income (loss) for the scal years ended January 31, 2011, 2010 and 2009:
Currency Derivative Minimum
(Amounts in millions) Translation Instruments Pension Liability Total
Balances at February 1, 2008 $ 4,093 $ — $(229) $ 3,864
Currency translation adjustment (6,489) — — (6,489)
Net change in fair value of derivatives — (17) — (17)
Subsidiary minimum pension liability — — (46) (46)
Balances at January 31, 2009 (2,396) (17) (275) (2,688)
Currency translation adjustment 2,744 — — 2,744
Net change in fair value of derivatives — 94 — 94
Subsidiary minimum pension liability — — (220) (220)
Balances at January 31, 2010 348 77 (495) (70)
Currency translation adjustment 878 — — 878
Net change in fair value of derivatives — (17) — (17)
Subsidiary minimum pension liability — — (145) (145)
Balances at January 31, 2011 $1,226 $ 60 $(640) $ 646
The currency translation adjustment includes a net translation loss of $1.0 billion and $545 million and a gain of $1.2 billion at January 31, 2011, 2010 and
2009, respectively, related to net investment hedges of our operations in the United Kingdom and Japan. We reclassied $(14) million and $83 million,
respectively, in scal 2011 and 2010 from accumulated other comprehensive income (loss) to earnings to oset currency translation losses on the
remeasurement of non-U.S.-denominated debt.