Walmart 2012 Annual Report Download - page 54
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Please find page 54 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.52 Walmart 2012 Annual Report
15 Segments
The Company operates retail stores in various formats around the world. The Company’s operations are conducted in three reportable segments: the
Walmart U.S. segment; the Walmart International segment; and the Sam’s Club segment. The Company defi nes its segments as those business units
whose operating results its chief operating decision maker (“CODM”) regularly reviews to analyze performance and allocate resources. The Company
sells similar individual products and services in each of its segments. It is impractical to segregate and identify revenue and profi ts for each individual
product and service.
The Walmart U.S. segment includes the Company’s mass merchant concept in the United States operating under the “Walmart” or “Wal-Mart” brand, as
well as walmart.com. The Walmart International segment consists of the Company’s operations outside of the United States. The Sam’s Club segment
includes the warehouse membership clubs in the United States, as well as samsclub.com. The amounts under the caption “Other unallocated” in the
table below include corporate overhead and other items not allocated to any of the Company’s segments.
The Company measures the results of its segments using, among other measures, each segment’s operating income, which includes certain corporate
overhead allocations. From time to time, the Company revises the measurement of each segment’s operating income, including any corporate
overhead allocations, as dictated by the information regularly reviewed by its CODM. When the measurement of the segments change, previous
fi scal year amounts and balances are reclassifi ed to be comparable to the current fi scal year presentation. Information for the Company’s segments
and the reconciliation to consolidated income from continuing operations before income taxes are in the following table:
Walmart Other
(Amounts in millions) Walmart U.S. International Sam’s Club Unallocated Consolidated
Fiscal Year Ended January 31, 2012
Net sales $264,186 $125,873 $53,795 $ — $443,854
Operating income (loss) 20,367 6,214 1,865 (1,888) 26,558
Interest expense, net (2,160)
Income from continuing operations before income taxes $ 24,398
Total assets of continuing operations $ 93,050 $ 81,364 $12,823 $ 6,080 $193,317
Depreciation and amortization 4,794 2,470 611 255 8,130
Capital expenditures 6,571 5,275 842 822 13,510
Fiscal Year Ended January 31, 2011
Net sales $ 260,261 $ 109,232 $ 49,459 $ — $ 418,952
Operating income (loss) 19,919 5,606 1,711 (1,694) 25,542
Interest expense, net (2,004)
Income from continuing operations before income taxes $ 23,538
Total assets of continuing operations $ 89,725 $ 72,021 $ 12,531 $ 6,255 $ 180,532
Depreciation and amortization 4,619 2,184 594 244 7,641
Capital expenditures 7,328 3,994 711 666 12,699
Fiscal Year Ended January 31, 2010
Net sales $ 259,919 $ 97,407 $ 47,806 $ — $ 405,132
Operating income (loss) 19,314 4,901 1,515 (1,728) 24,002
Interest expense, net (1,884)
Income from continuing operations before income taxes $ 22,118
Total assets of continuing operations $ 84,238 $ 66,515 $ 12,050 $ 7,464 $ 170,267
Depreciation and amortization 4,352 1,979 558 268 7,157
Capital expenditures 6,618 3,832 793 941 12,184
The net revenues, consisting of net sales and membership and other income, of the Company’s United States operations were $320 billion, $312 billion
and $310 billion for fi scal 2012, 2011 and 2010, respectively. The long-lived assets, consisting primarily of property and equipment, net, of the Company’s
United States operations were $75.9 billion, $73.6 billion and $70.7 billion as of January 31, 2012, 2011 and 2010, respectively. No other countries had
net revenues or long-lived assets, net, that were material to the consolidated totals. Additionally, the Company did not generate material net revenues
from any single customer.
Notes to Consolidated Financial Statements