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32 || Walmart 2013 Annual Report
Consolidated Statements of Income
Fiscal Years Ended January 31,
(Amounts in millions, except per share data) 2013 2012 2011
Revenues:
Net sales $466,114 $443,854 $418,952
Membership and other income 3,048 3,096 2,897
Total revenues 469,162 446,950 421,849
Costs and expenses:
Cost of sales 352,488 335,127 314,946
Operating, selling, general and administrative expenses 88,873 85,265 81,361
Operating income 27,801 26,558 25,542
Interest:
Debt 1,977 2,034 1,928
Capital leases 274 288 277
Interest income (187) (162) (201)
Interest, net 2,064 2,160 2,004
Income from continuing operations before income taxes 25,737 24,398 23,538
Provision for income taxes:
Current 7,999 6,742 6,703
Deferred (18) 1,202 876
Total provision for income taxes 7,981 7,944 7,579
Income from continuing operations 17,756 16,454 15,959
Income (loss) from discontinued operations, net of income taxes — (67) 1,034
Consolidated net income 17,756 16,387 16,993
Less consolidated net income attributable to noncontrolling interest (757) (688) (604)
Consolidated net income attributable to Walmart $ 16,999 $ 15,699 $ 16,389
Basic net income per common share:
Basic income per common share from continuing operations attributable to Walmart $ 5.04 $ 4.56 $ 4.20
Basic income (loss) per common share from discontinued operations attributable to Walmart — (0.02) 0.28
Basic net income per common share attributable to Walmart $ 5.04 $ 4.54 $ 4.48
Diluted net income per common share:
Diluted income per common share from continuing operations attributable to Walmart $ 5.02 $ 4.54 $ 4.18
Diluted income (loss) per common share from discontinued operations attributable to Walmart — (0.02) 0.29
Diluted net income per common share attributable to Walmart $ 5.02 $ 4.52 $ 4.47
Weighted-average common shares outstanding:
Basic 3,374 3,460 3,656
Diluted 3,389 3,474 3,670
Dividends declared per common share $ 1.59 $ 1.46 $ 1.21
See accompanying notes.
Consolidated Statements of Comprehensive Income
Fiscal Years Ended January 31,
(Amounts in millions) 2013 2012 2011
Consolidated net income $17,756 $16,387 $16,993
Less consolidated net income attributable to nonredeemable noncontrolling interest (684) (627) (584)
Less consolidated net income attributable to redeemable noncontrolling interest (73) (61) (20)
Consolidated net income attributable to Walmart 16,999 15,699 16,389
Other comprehensive income (loss), net of income taxes:
Currency translation and other 1,042 (2,758) 1,137
Derivative instruments 136 (67) (17)
Minimum pension liability (166) 43 (145)
Other comprehensive income (loss), net of income taxes 1,012 (2,782) 975
Less other comprehensive income (loss) attributable to nonredeemable noncontrolling interest (138) 660 (162)
Less other comprehensive income (loss) attributable to redeemable noncontrolling interest (51) 66 (97)
Other comprehensive income (loss) attributable to Walmart 823 (2,056) 716
Comprehensive income, net of income taxes 18,768 13,605 17,968
Less comprehensive income (loss) attributable to nonredeemable noncontrolling interest (822) 33 (746)
Less comprehensive income (loss) attributable to redeemable noncontrolling interest (124) 5 (117)
Comprehensive income attributable to Walmart $17,822 $13,643 $17,105
See accompanying notes.