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Walmart 2013 Annual Report || 43
5 Accrued Liabilities
The Company’s accrued liabilities consist of the following:
As of January 31,
(Amounts in millions) 2013 2012
Accrued wages and bene ts
(1)
$ 5,059 $ 5,089
Self-insurance
(2)
3,373 3,638
Accrued taxes
(3)
2,851 2,323
Other
(4)
7,525 7,130
Total accrued liabilities $18,808 $18,180
(1) Accrued wages and benefi ts include accrued wages, salaries, vacation, bonuses and other incentive plans.
(2) Self-insurance consists of all insurance-related liabilities, such as workers’ compensation, general liability, vehicle liability, property liability and employee-related health care benefi ts.
(3) Accrued taxes include accrued payroll, value added, sales and miscellaneous other taxes.
(4) Other accrued liabilities consist of various items such as maintenance, utilities, advertising and interest.
6 Short-term Borrowings and Long-term Debt
Short-term borrowings consist of commercial paper and lines of credit. Short-term borrowings outstanding at January 31, 2013 and 2012, were $6.8 billion
and $4.0 billion, respectively. The following table includes additional information related to the Company’s short-term borrowings for  scal 2013,
2012 and 2011:
Fiscal Years Ended January 31,
(Amounts in millions) 2013 2012 2011
Maximum amount outstanding at any month-end $8,740 $9,594 $9,282
Average daily short-term borrowings 6,007 6,040 4,020
Weighted-average interest rate 0.1% 0.1% 0.2%
The Company has various lines of credit, committed with 27  nancial institutions, totaling $18.1 billion as of January 31, 2013. The lines of credit,
including drawn and undrawn amounts, are summarized in the following table:
Fiscal Years Ended January 31,
(Amounts in millions) 2013 2012
Available Drawn Undrawn Available Drawn Undrawn
Five-year credit facility
(1)
$ 6,258 $ — $ 6,258 $ 6,258 $ — $ 6,258
364-day revolving credit facility
(2)
10,000 — 10,000 10,000 — 10,000
Stand-by letters of credit
(3)
1,871 1,868 3 2,225 2,178 47
Total $18,129 $1,868 $16,261 $18,483 $2,178 $16,305
(1) In June 2011, the Company renewed and extended its existing fi ve-year credit facility, which is used to support its commercial paper program.
(2) In June 2012, the Company renewed and extended its existing 364-day revolving credit facility, which is used to support its commercial paper program.
(3) In June 2012, the Company renewed the stand-by letters of credit, which are used to support various potential and actual obligations.
The committed lines of credit mature at various times between June 2013 and June 2016, carry interest rates generally ranging between LIBOR plus
10 basis points and LIBOR plus 75 basis points, and incur commitment fees ranging between 1.5 and 10.0 basis points. In conjunction with the lines
of credit listed in the table above, the Company has agreed to observe certain covenants, the most restrictive of which relates to maximum amounts
of secured debt and long-term leases.
Additionally, the Company had trade letters of credit outstanding totaling $2.7 billion and $2.9 billion at January 31, 2013 and 2012, respectively.
Notes to Consolidated Financial Statements