Walmart 2013 Annual Report Download - page 56

Download and view the complete annual report

Please find page 56 of the 2013 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.

Page out of 64

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64

54 || Walmart 2013 Annual Report
14 Segments
The Company is engaged in the operations of retail stores located in the U.S., Africa, Argentina, Brazil, Canada, Central America, Chile, China, India,
Japan, Mexico, and the United Kingdom. The Company’s operations are conducted in three reportable business segments: Walmart U.S., Walmart
International and Sam’s Club. The Company de 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 for each of these individual products and services.
The Walmart U.S. segment includes the Company’s mass merchant concept in the U.S., 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 U.S., including various retail websites.
The Sam’s Club segment includes the warehouse membership clubs in the U.S., as well as samsclub.com. Other unallocated consists of 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 net sales and 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 a segment changes,
previous period amounts and balances are reclassi ed to be comparable to the current period’s presentation. Information for the Company’s segments,
as well as the reconciliation to income from continuing operations before income taxes, is in the following table:
Walmart Other
(Amounts in millions) Walmart U.S. International Sam’sClub Unallocated Consolidated
Fiscal Year Ended January 31, 2013
Net sales $274,490 $135,201 $56,423 $ — $466,114
Operating income (loss) 21,500 6,694 1,963 (2,356) 27,801
Interest expense, net (2,064)
Income from continuing operations before income taxes $ 25,737
Total assets $ 96,234 $ 85,695 $13,479 $ 7,697 $203,105
Depreciation and amortization 4,586 2,628 617 670 8,501
Capital expenditures 5,994 4,640 868 1,396 12,898
Fiscal Year Ended January 31, 2012
Net sales $ 264,186 $ 125,873 $ 53,795 $ — $ 443,854
Operating income (loss) 20,391 6,182 1,848 (1,863) 26,558
Interest expense, net (2,160)
Income from continuing operations before income taxes $ 24,398
Total assets $ 93,143 $ 81,289 $ 12,824 $ 6,150 $ 193,406
Depreciation and amortization 4,557 2,438 595 540 8,130
Capital expenditures 6,226 5,274 823 1,187 13,510
Fiscal Year Ended January 31, 2011
Net sales $ 260,261 $ 109,232 $ 49,459 $ — $ 418,952
Operating income (loss) 19,941 5,575 1,695 (1,669) 25,542
Interest expense, net (2,004)
Income from continuing operations before income taxes $ 23,538
Total assets $ 90,166 $ 71,172 $ 12,536 $ 6,908 $ 180,782
Depreciation and amortization 4,605 2,195 601 240 7,641
Capital expenditures 7,328 3,994 711 666 12,699
Notes to Consolidated Financial Statements