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Walmart 2011 Annual Report 53
Notes to Consolidated Financial Statements
A reconciliation of the accounting change for the second and third quarters of scal 2010 has been reected in the quarterly reports led with the SEC
in the respective quarters in scal 2011. The retrospective application of the accounting change impacted the following nancial statement line items
for the rst quarter ended April 30, 2010 and 2009.
Quarter Ended April 30, 2010 Quarter Ended April 30, 2009
(Amounts in millions except per share data) As Reported Adjustments As Adjusted As Reported Adjustments As Adjusted
Condensed Consolidated Statements of Income:
Cost of sales
(1)
$74,703 $ (3) $74,700 $70,388 $ 7 $70,395
Operating income 5,772 (35) 5,737 5,217 (44) 5,173
Provision for income taxes 1,834 (12) 1,822 1,603 (18) 1,585
Income from continuing operations 3,467 (23) 3,444 3,147 (26) 3,121
Consolidated net income attributable to Walmart 3,324 (23) 3,301 3,022 (26) 2,996
Basic net income per share attributable to Walmart 0.88 (0.01) 0.88 0.77 (0.01) 0.76
Diluted net income per share attributable to Walmart 0.88 (0.01) 0.87 0.77 (0.01) 0.76
(1) The cost of sales adjustments include $35 million and $44 million pertaining to the accounting change for the quarters ended April 30, 2010 and 2009, respectively.
Certain reclassifications that had no effect on operating income or on the consolidated net income attributable to Walmart represent the remainder of the amounts included
in the cost of sales adjustment columns above.
Quarter Ended April 30, 2010 Quarter Ended April 30, 2009
(Amounts in millions except per share data) As Reported Adjustments As Adjusted As Reported Adjustments As Adjusted
Condensed Consolidated Balance Sheets:
Inventories $35,503 $(482) $35,021 $34,391 $(542) $33,849
Prepaid expenses and other 3,291 154 3,445 3,266 179 3,445
Accrued income taxes 2,726 (22) 2,704 1,810 (22) 1,788
Retained earnings 62,486 (306) 62,180 61,556 (341) 61,215
Walmart 2011 Annual Report 53