Walmart 2012 Annual Report Download - page 44
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Please find page 44 of the 2012 Walmart annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.Share Repurchase Program
From time to time, the Company has repurchased shares of its common
stock under share repurchase programs authorized by the Board of
Directors. The current share repurchase program has no expiration date
or other restriction limiting the period over which the Company can
make share repurchases. At January 31, 2012, authorization for $11.3 billion
of additional share repurchases remained under the current share
repurchase program. Any repurchased shares are constructively retired
and returned to an unissued status.
The Company considers several factors in determining when to execute
share repurchases, including, among other things, current cash needs,
capacity for leverage, cost of borrowings and the market price of its
common stock. Cash paid for share repurchases during fi scal 2012, 2011
and 2010 was as follows:
Total
Number
of Shares Average Total
Repurchased Price Paid Investment
Share Repurchases (in millions) per Share (in billions)
Fiscal year ended January 31, 2012 115.3 $54.64 $ 6.3
Fiscal year ended January 31, 2011 279.1 53.03 14.8
Fiscal year ended January 31, 2010 145.5 50.17 7.3
42 Walmart 2012 Annual Report
Notes to Consolidated Financial Statements
4 Accumulated Other Comprehensive Income (Loss)
The following table provides the changes in the composition of accumulated other comprehensive income (loss) for fi scal 2012, 2011 and 2010:
Currency Translation Derivative Minimum
(Amounts in millions) and Other Instruments Pension Liability Total
Balances at February 1, 2009 $(2,396) $(17) $(275) $(2,688)
Currency translation 2,744 — — 2,744
Net change in fair value of derivatives — 94 — 94
Minimum pension liability — — (220) (220)
Balances at January 31, 2010 348 77 (495) (70)
Currency translation 878 — — 878
Net change in fair value of derivatives — (17) — (17)
Minimum pension liability — — (145) (145)
Balances at January 31, 2011 1,226 60 $(640) 646
Currency translation (2,032) — — (2,032)
Net change in fair value of derivatives — (67) — (67)
Minimum pension liability — — 43 43
Balances at January 31, 2012 $ (806) $ (7) $(597) $(1,410)
Amounts included in accumulated other comprehensive income (loss) are recorded net of their related income tax eff ects. The Company’s unrealized
net gains and losses on net investment hedges, included in the currency translation and other account of accumulated other comprehensive income
(loss), were not signifi cant as of January 31, 2012 and 2011. The Company reclassifi ed $(86) million and $(14) million, respectively, in fi scal 2012 and 2011
from accumulated other comprehensive income (loss) to earnings to off set the impact of currency translation on the re-measurement of non-U.S.
denominated debt.