WAL-MART STORES INC

ANNUAL BALANCE SHEET

TICKER: WMT
($ MILLIONS)
SIC:
5331
GICS: 30101040
Jan13 Jan12 Jan11 Jan10 Jan09
ASSETS
Cash & Equivalents
7,781.000
6,550.000
7,395.000
7,907.00
0
7,275.000
Net Receivables
6,768.000
5,937.000
5,089.000
4,144.00
0
3,905.000
Inventories 43,803.000
40,714.000
36,318.000
33,160.000
34,511.000
Prepaid Expenses
@CF
@CF
@CF
@CF
@CF
Other Current Assets 1,588.000
1,774.000
3,091.000
3,120.00
0
3,258.000
------------------------------------------------------------------------------------Total Current Assets 59,940.000
54,975.000
51,893.000
48,331.0
00
48,949.000
Gross Plant, Property & Equipment
171,724.000
160,938.000
154,489.
000
143,517.000
131,161.000
Accumulated Depreciation
55,043.000
48,614.000
46,611.000
41,210.000
35,508.000
------------------------------------------------------------------------------------Net Plant, Property & Equipment
116,681.000
112,324.000
107,878.
000
102,307.000
95,653.000
Investments at Equity @CF
@CF
@CF
@CF
@CF
Other Investments
0.000 0.000 0.000 0.000 0.000
Intangibles 20,497.000
20,651.000
16,763.000
16,126.000
15,260.000
Deferred Charges
@CF
@CF
@CF
@CF
@CF
Other Assets 5,987.000
5,456.000
4,129.000
3,942.000
3,567.000
------------------------------------------------------------------------------------TOTAL ASSETS
203,105.000
193,406.000
180,663.000
170,706.000
163,429.000
LIABILITIES
Long Term Debt Due In One Year
5,914.000
2,301.000
4,991.00
0
4,396.000
6,163.000
Notes Payable 6,805.000
4,047.000
1,031.000
523.000 1,506.00
0
Accounts Payable
38,080.000
36,608.000
33,557.000
30,451.0
00
28,849.000
Taxes Payable 2,211.000
1,164.000
157.000 1,365.000
677.000
Accrued Expenses
18,233.000
17,595.000
18,159.000
18,202.0
00
17,571.000
Other Current Liabilities
575.000 585.000 589.000 624.000 624.000
------------------------------------------------------------------------------------Total Current Liabilities
71,818.000
62,300.000
58,484.000
55,561.000
55,390.000
Long Term Debt
41,417.000
47,079.000
43,842.000
36,401.0
00
34,549.000
Deferred Taxes
4,373.000
4,617.000
3,641.000
2,722.00
0
3,076.000
Investment Tax Credit 0.000 0.000 0.000 0.000 0.000
Other Liabilities
3,240.000
3,245.000
3,041.000
2,786.00
0
2,938.000

Redeemable Noncontrolling Int. 519.000 404.000 408.000 307.000 2,191.000

EQUITY
Preferred Stock - Redeemable 0.000 0.000 0.000 0.000 0.000
Preferred Stock - Nonredeemable
0.000 0.000 0.000 0.000 0.000
------------------------------------------------------------------------------------Total Preferred Stock 0.000 0.000 0.000 0.000 0.000
Common Stock 332.000 342.000 352.000 378.000 393.000
Capital Surplus
3,620.000
3,692.000
3,577.000
3,803.00
0
3,920.000
Retained Earnings
72,391.000
67,281.000
64,613.000
66,568.0
00
60,972.000
Less: Treasury Stock 0.000 0.000 0.000 0.000 0.000
------------------------------------------------------------------------------------Common Equity 76,343.000
71,315.000
68,542.000
70,749.000
65,285.000
------------------------------------------------------------------------------------Stockholders' Equity - Parent 76,343.000
71,315.000
68,542.000
70,749.000
65,285.000
Nonredeemable Noncontrolling Int.
5,395.000
4,446.000
2,705.00
0
2,180.000
@NA
------------------------------------------------------------------------------------Stockholders' Equity - Total
81,738.000
75,761.000
71,247.000
72,929.000
@NA
------------------------------------------------------------------------------------TOTAL LIABILITIES & EQUITY
203,105.000
193,406.000
180,663.000
170,706.000
163,429.000
COMMON SHARES OUTSTANDING
3,314.000
3,418.000
3,516.000
3,786.000
3,925.000
WAL-MART STORES INC
ANNUAL INCOME STATEMENT
($ MILLIONS, EXCEPT PER SHARE)
Jan13 Jan12 Jan11 Jan10 Jan09
Sales 467,231.000
444,948.000
420,016.000
406,103.000
402,298.
000
Cost of Goods Sold
343,987.000
326,997.000
307,646.000
297,500.
000
299,419.000
-------------------------------------------------------------------------------------Gross Profit
123,244.000
117,951.000
112,370.000
108,603.000
102,879.000
Selling, General, &
Administrative Expense
88,716.000
85,199.000
81,020.000
79,347.000
76,299.000
-------------------------------------------------------------------------------------Operating Income Before Deprec. 34,528.000
32,752.000
31,350.000
29,256.000
26,580.000
Depreciation, Depletion, &
Amortization
8,501.000
8,130.000
7,641.000
7,157.00
0
6,739.000
-------------------------------------------------------------------------------------Operating Profit
26,027.000
24,622.000
23,709.000
22,099.0
00
19,841.000
Interest Expense
2,325.000
2,382.000
2,268.000
2,150.00
0
2,272.000

Non-Operating Income/Expense 2,192.000

2,224.000
2,097.000
2,377.000
3,681.000
Special Items
-157.000
-66.000 0.000 -260.000
-352.000
-------------------------------------------------------------------------------------Pretax Income 25,737.000
24,398.000
23,538.000
22,066.000
20,898.000
Total Income Taxes
7,981.000
7,944.000
7,579.000
7,139.00
0
7,145.000
Income Before Extraordinary Items
-------------------------------------------------------------------------------------& Noncontrolling Interests
17,756.000
16,454.000
15,959.000
14,927.000
@NA
Noncontrolling Interest - Inc Acc
757.000 688.000 604.000 513.000 499.000
-------------------------------------------------------------------------------------Income Before Extraordinary
Items & Discontinued Operations
16,999.000
15,766.000
15,355.0
00
14,414.000
13,254.000
Preferred Dividends
0.000 0.000 0.000 0.000 0.000
-------------------------------------------------------------------------------------Available for Common
16,999.000
15,766.000
15,355.000
14,414.0
00
13,254.000
Savings Due to Common
Stock Equivalents 0.000 0.000 0.000 0.000 0.000
-------------------------------------------------------------------------------------Adjusted Available for Common 16,999.000
15,766.000
15,355.000
14,414.000
13,254.000
Extraordinary Items 0.000 0.000 0.000 0.000 0.000
Discontinued Operations
0.000 -67.000 1,034.000
-79.000 146.000
-------------------------------------------------------------------------------------Adjusted Net Income
16,999.000
15,699.000
16,389.000
14,335.0
00
13,400.000
Income to Company Incl Extrordinary
Items & Disc Ops
17,756.000
16,387.000
16,993.000
14,848.0
00
@NA
Earnings Per Share Basic Excluding Extra Items & Disc Op
5.04
4.56
4.20
3.73
3.36
Earnings Per Share Basic Including Extra Items & Disc Op
5.04
4.54
4.48
3.71
3.40
Earnings Per Share DilutedExcluding Extra Items & Disc Op
5.02
4.54
4.18
3.72
3.35
Earnings Per Share Diluted Including Extra Items & Disc Op
5.02
4.52
4.47
3.70
3.39
EPS Basic from Operations
5.07
4.57
4.08
3.67
3.43
EPS Diluted from Operations
5.05
4.55
4.07
3.66
3.42
Dividends Per Share
1.59
1.46
1.21
1.09
0.95
Com Shares for Basic EPS
3,374.00
3,460.00
3,656.00
3,866.00
3,939.00
Com Shares for Diluted EPS
3,389.00
3,474.00
3,670.00
3,877.00
3,951.00
WAL-MART STORES INC
ANNUAL STATEMENT OF CASH FLOWS
($ MILLIONS)
Jan13
Jan12
Jan11
Jan10
Jan09
INDIRECT OPERATING ACTIVITIES
Income Before Extraordinary Items
17,756.000
16,454.000
15,959.000
14,927.000
13,254.000

Depreciation and Amortization 8,501.000

8,130.000
7,641.000
7,157.000
6,739.000
Extraordinary Items and Disc. Operations
0.000
0.000
0.000
0.000
0.000
Deferred Taxes -133.000
1,050.000
651.000
-504.000
581.000
Equity in Net Loss (Earnings) @CF
@CF
@CF
@CF
@CF
Sale of Property, Plant, and Equipment
and Sale of Investments - Loss (Gain) 0.000
0.000
0.000
0.000
0.000
Funds from Operations - Other 527.000
398.000
1,087.000
301.000
1,268.000
Receivables - Decrease (Increase)
-614.000
-796.000
-733.000
-297.000
-101.000
Inventory - Decrease (Increase) -2,759.000
-3,727.000
-3,086.000
2,265.000
-220.000
Accounts Payable and Accrued Liabs - Inc (Dec) 1,332.000
2,746.00
0
2,124.000
2,400.000
1,626.000
Income Taxes - Accrued - Increase (Decrease)
981.000
@CF
@CF
@CF
@CF
Other Assets and Liabilities - Net Change
0.000
0.000
0.000
0.000
0.000
Operating Activities - Net Cash Flow
25,591.000
24,255.000
23,643.000
26,249.000
23,147.000
INVESTING ACTIVITIES
Investments - Increase @CF
@CF
@CF
0.000
1,576.000
Sale of Investments
0.000
0.000
0.000
0.000
0.000
Short-Term Investments - Change 0.000
0.000
0.000
0.000
0.000
Capital Expenditures
12,898.000
13,510.000
12,699.0
00
12,184.000
11,499.000
Sale of Property, Plant, and Equipment 532.000
580.000
489.000
1,002.000
714.000
Acquisitions
@CF
@CF
@CF
0.000
0.000
Investing Activities - Other
-245.000
-3,679.000
17.000
-438.000
1,619.000
Investing Activities - Net Cash Flow
-12,611.000
-16,609.000
-12,193.000
-11,620.000
-10,742.000
FINANCING ACTIVITIES
Sale of Common and Preferred Stock
0.000
0.000
0.000
0.000
0.000
Purchase of Common and Preferred Stock 7,600.000
6,298.000
14,776.000
7,276.000
3,521.000
Cash Dividends 5,361.000
5,048.000
4,437.000
4,217.000
3,746.000
Long-Term Debt - Issuance
211.000
5,050.000
11,396.0
00
5,546.000
6,566.000
Long-Term Debt - Reduction
1,478.000
4,939.000
4,443.000
6,379.000
5,739.000
Current Debt - Changes 2,754.000
3,019.000
503.000
-1,033.000
-3,745.000
Financing Activities - Other
-498.000
-242.000
-271.000
-832.000
267.000
Financing Activities - Net Cash Flow
-11,972.000
-8,458.000
-12,028.000
-14,191.000
-9,918.000

Exchange Rate Effect

223.000
-33.000
66.000
-781.000
Cash and Equivalents - Change 1,231.000
-845.000
-512.000
632.000
1,706.000
DIRECT OPERATING ACTIVITIES
Interest Paid - Net
2,262.000
2,346.000
0
2,141.000
1,787.000
Income Taxes Paid
7,304.000
5,899.000
0
7,389.000
6,596.000
SUPPLEMENTAL STATEMENT OF FINANCIAL POSITION
Total Funds from Operations
@NA
@NA
@NA
@NA
@NA
Other Sources of Funds @NA
@NA
@NA
@NA
Total Sources of Funds @NA
@NA
@NA
@NA
Total Working Capital Change
@NA
@NA
@NA
@NA
@NA
Other Uses of Funds
@NA
@NA
@NA
@NA
Total Uses of Funds
@NA
@NA
@NA
@NA
Working Capital Changes - Other - Inc (Dec)
@NA
@NA
@NA
@NA
@NA
Format Code
7
7
7
7
7
WAL-MART STORES INC
ANNUAL RATIO REPORT
(RATIO, EXCEPT AS NOTED)
LIQUIDITY
Jan13 Jan12 Jan11 Jan10 Jan09 Jan08
Current Ratio 0.83
0.88
0.89
0.87
0.88
0.81
Quick Ratio
0.20
0.20
0.21
0.22
0.20
0.16
Working Capital Per Share
-3.58 -2.14 -1.87 -1.91 -1.64
Cash Flow Per Share
7.69
6.99
6.54
5.70
5.09
4.83
ACTIVITY
Inventory Turnover
8.14
8.49
8.86
8.79
8.59
8.14
Receivables Turnover
73.55 80.71 90.98 100.91 106.44 115.61
Total Asset Turnover
2.36
2.38
2.39
2.43
2.46
2.39
Average Collection Period (Days)
5
4
4
4
3
Days to Sell Inventory 44
42
41
41
42
44
Operating Cycle (Days) 49
47
45
45
45
47
PERFORMANCE
Sales/Net Property, Plant & Equip
4.00
3.96
3.89
3.97
3.87
Sales/Stockholder Equity
6.12
6.24
6.13
5.74
6.16
PROFITABILITY
Operating Margin Before Depr (%)
7.39
7.36
7.46
7.20
6.60
Operating Margin After Depr (%) 5.57
5.53
5.64
5.44
4.93
Pretax Profit Margin (%)
5.51
5.48
5.60
5.43
5.19
Net Profit Margin (%) 3.64
3.54
3.66
3.55
3.29
3.43
Return on Assets (%)
8.37
8.15
8.50
8.44
8.11
7.88
Return on Equity (%)
22.27 22.11 22.40 20.37 20.30 19.94
Return on Investment (%)
13.75 12.79 13.29 13.15 12.99
Return on Average Assets (%)
8.57
8.43
8.74
8.63
8.11
Return on Average Equity (%)
23.02 22.55 22.05 21.19 20.41
Return on Average Investment (%)
13.77 13.21 13.64 13.62
13.25
LEVERAGE
Interest Coverage Before Tax
12.07 11.24 11.38 11.26 10.20

194.000

2,163.00
6,984.00

@NA
@NA

@NA
@NA

-2.74

4.21
5.81
6.61
4.92
5.38

12.89
8.19
20.42
13.12
9.96

Interest Coverage After Tax

8.31
Long-Term Debt/Common Equity (%)
51.70
Long-Term Debt/Shrhldr Equity(%)
51.70
Total Debt/Invested Capital (%) 43.77
Total Debt/Total Assets (%)
26.65
Total Assets/Common Equity
2.66
DIVIDENDS
Dividend Payout (%)
31.54 32.02
Dividend Yield (%)
2.27
2.38

7.62
54.25

7.77
66.02

7.70
63.96

6.83
51.45

6.72
52.92

54.25

66.02

63.96

51.45

52.92

43.35
27.62
2.71

43.17
27.60
2.64

37.69
24.21
2.41

41.38
25.83
2.50

44.69
27.32
2.53

28.90
2.16

29.26
2.04

28.26
2.02

27.83
1.73