Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Apr. 30, 2019 | Jun. 05, 2019 | |
Document And Entity Information [Abstract] | ||
Entity Registrant Name | WALMART INC. | |
Entity Central Index Key | 0000104169 | |
Current Fiscal Year End Date | --01-31 | |
Entity Filer Category | Large Accelerated Filer | |
Document Type | 10-Q | |
Document Period End Date | Apr. 30, 2019 | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false | |
Entity Common Stock, Shares Outstanding | 2,854,722,137 | |
Entity Small Business | false | |
Entity Emerging Growth Company | false |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | |
Apr. 30, 2019 | Apr. 30, 2018 | |
Revenues: | ||
Net sales | $ 122,949 | $ 121,630 |
Membership and other income | 976 | 1,060 |
Total revenues | 123,925 | 122,690 |
Costs and expenses: | ||
Cost of sales | 93,034 | 91,707 |
Operating, selling, general and administrative expenses | 25,946 | 25,829 |
Operating income | 4,945 | 5,154 |
Interest: | ||
Debt | 588 | 437 |
Finance, capital lease and financing obligations | 85 | 93 |
Interest income | (48) | (43) |
Interest, net | 625 | 487 |
Other (gains) and losses | (837) | 1,845 |
Income before income taxes | 5,157 | 2,822 |
Provision for income taxes | 1,251 | 546 |
Consolidated net income | 3,906 | 2,276 |
Consolidated net income attributable to noncontrolling interest | (64) | (142) |
Consolidated net income attributable to Walmart | $ 3,842 | $ 2,134 |
Basic net income per common share: | ||
Basic net income per common share attributable to Walmart (in dollars per share) | $ 1.34 | $ 0.72 |
Diluted net income per common share: | ||
Diluted net income per common share attributable to Walmart (in dollars per share) | $ 1.33 | $ 0.72 |
Weighted-average common shares outstanding: | ||
Basic (shares) | 2,869 | 2,950 |
Diluted (shares) | 2,886 | 2,967 |
Dividends declared per common share (in dollars per share) | $ 2.12 | $ 2.08 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions | 3 Months Ended | |
Apr. 30, 2019 | Apr. 30, 2018 | |
Consolidated net income | $ 3,906 | $ 2,276 |
Consolidated net income attributable to noncontrolling interest | (64) | (142) |
Consolidated net income attributable to Walmart | 3,842 | 2,134 |
Other comprehensive income (loss), net of income taxes | ||
Currency translation and other | 507 | 1,465 |
Net investment hedges | 108 | 68 |
Cash flow hedges | (131) | (77) |
Minimum pension liability | 1 | 43 |
Other comprehensive income (loss), net of income taxes | 485 | 1,499 |
Other comprehensive (income) loss attributable to noncontrolling interest | (34) | (163) |
Other comprehensive income (loss) attributable to Walmart | 451 | 1,336 |
Comprehensive income, net of income taxes | 4,391 | 3,775 |
Comprehensive (income) loss attributable to noncontrolling interest | (98) | (305) |
Comprehensive income attributable to Walmart | $ 4,293 | $ 3,470 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions | Apr. 30, 2019 | Jan. 31, 2019 | Apr. 30, 2018 |
Current assets: | |||
Cash and cash equivalents | $ 9,255 | $ 7,722 | $ 7,885 |
Receivables, net | 5,342 | 6,283 | 4,568 |
Inventories | 44,751 | 44,269 | 43,303 |
Prepaid expenses and other | 2,391 | 3,623 | 3,486 |
Total current assets | 61,739 | 61,897 | 59,242 |
Property and equipment, net | 104,604 | 104,317 | 107,622 |
Operating lease right-of-use assets, net | 16,833 | 0 | 0 |
Finance lease right-of-use assets, net | 3,804 | 0 | 0 |
Property under capital lease and financing obligations, net | 0 | 7,078 | 7,178 |
Goodwill | 31,416 | 31,181 | 18,850 |
Other long-term assets | 16,148 | 14,822 | 12,035 |
Total assets | 234,544 | 219,295 | 204,927 |
Current liabilities: | |||
Short-term borrowings | 4,828 | 5,225 | 7,762 |
Accounts payable | 45,110 | 47,060 | 44,612 |
Dividends payable | 4,551 | 0 | 4,607 |
Accrued liabilities | 21,023 | 22,159 | 20,782 |
Accrued income taxes | 729 | 428 | 718 |
Long-term debt due within one year | 1,464 | 1,876 | 1,576 |
Operating lease obligations due within one year | 1,748 | 0 | 0 |
Finance lease obligations due within one year | 435 | 0 | 0 |
Capital lease and financing obligations due within one year | 0 | 729 | 700 |
Total current liabilities | 79,888 | 77,477 | 80,757 |
Long-term debt | 47,425 | 43,520 | 29,477 |
Long-term operating lease obligations | 15,719 | 0 | 0 |
Long-term finance lease obligations | 3,810 | 0 | 0 |
Long-term capital lease and financing obligations | 0 | 6,683 | 6,828 |
Deferred income taxes and other | 12,792 | 11,981 | 9,541 |
Commitments and contingencies | |||
Equity: | |||
Common stock | 286 | 288 | 294 |
Capital in excess of par value | 2,734 | 2,965 | 2,557 |
Retained earnings | 76,276 | 80,785 | 82,982 |
Accumulated other comprehensive loss | (11,091) | (11,542) | (10,281) |
Total Walmart shareholders' equity | 68,205 | 72,496 | 75,552 |
Noncontrolling interest | 6,705 | 7,138 | 2,772 |
Total equity | 74,910 | 79,634 | 78,324 |
Total liabilities and equity | $ 234,544 | $ 219,295 | $ 204,927 |
Condensed Consolidated Statem_3
Condensed Consolidated Statement Of Shareholders' Equity (Unaudited) - USD ($) shares in Millions, $ in Millions | Total | Common Stock | Capital in excess of par value | Retained earnings | Accumulated other comprehensive income (loss) | Total Walmart shareholders' equity | Noncontrolling interest |
Balances, in shares at Jan. 31, 2018 | 2,952 | ||||||
Balances at Jan. 31, 2018 | $ 80,822 | $ 295 | $ 2,648 | $ 85,107 | $ (10,181) | $ 77,869 | $ 2,953 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Adoption of new accounting standards on February 1, 2019, net of income taxes | 924 | 2,361 | (1,436) | 925 | (1) | ||
Consolidated net income | 2,276 | 2,134 | 2,134 | 142 | |||
Other comprehensive income (loss), net of income taxes | 1,499 | 1,336 | 1,336 | 163 | |||
Cash dividends declared ($2.12 per share) | (6,135) | (6,135) | (6,135) | ||||
Purchase of Company stock (in shares) | (5) | ||||||
Purchase of Company stock | (508) | $ (1) | (15) | (492) | (508) | ||
Cash dividend declared to noncontrolling interest | (489) | (489) | |||||
Other, in shares | 4 | ||||||
Other | (65) | $ 0 | (76) | 7 | (69) | 4 | |
Balances, in shares at Apr. 30, 2018 | 2,951 | ||||||
Balances at Apr. 30, 2018 | 78,324 | $ 294 | 2,557 | 82,982 | (10,281) | 75,552 | 2,772 |
Balances, in shares at Jan. 31, 2019 | 2,878 | ||||||
Balances at Jan. 31, 2019 | 79,634 | $ 288 | 2,965 | 80,785 | (11,542) | 72,496 | 7,138 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Adoption of new accounting standards on February 1, 2019, net of income taxes | (300) | (266) | 0 | (266) | (34) | ||
Consolidated net income | 3,906 | 3,842 | 3,842 | 64 | |||
Other comprehensive income (loss), net of income taxes | 485 | 451 | 451 | 34 | |||
Cash dividends declared ($2.12 per share) | (6,071) | (6,071) | (6,071) | ||||
Purchase of Company stock (in shares) | (21) | ||||||
Purchase of Company stock | (2,087) | $ (2) | (73) | (2,012) | (2,087) | ||
Cash dividend declared to noncontrolling interest | (481) | (481) | |||||
Other, in shares | 5 | ||||||
Other | (176) | $ 0 | (158) | (2) | (160) | (16) | |
Balances, in shares at Apr. 30, 2019 | 2,862 | ||||||
Balances at Apr. 30, 2019 | $ 74,910 | $ 286 | $ 2,734 | $ 76,276 | $ (11,091) | $ 68,205 | $ 6,705 |
Consolidated Statement Of Share
Consolidated Statement Of Shareholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | |
Apr. 30, 2019 | Apr. 30, 2018 | |
Statement of Stockholders' Equity [Abstract] | ||
Dividends declared per common share (in dollars per share) | $ 2.12 | $ 2.08 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions | 3 Months Ended | |
Apr. 30, 2019 | Apr. 30, 2018 | |
Cash flows from operating activities: | ||
Consolidated net income | $ 3,906 | $ 2,276 |
Adjustments to reconcile consolidated net income to net cash provided by operating activities: | ||
Depreciation and amortization | 2,714 | 2,678 |
Unrealized (gains) and losses | (783) | 1,845 |
Deferred income taxes | (124) | 50 |
Other operating activities | (75) | (265) |
Changes in certain assets and liabilities, net of effects of acquisitions: | ||
Receivables, net | 970 | 1,134 |
Inventories | (421) | 547 |
Accounts payable | (1,854) | (1,770) |
Accrued liabilities | (1,514) | (1,813) |
Accrued income taxes | 346 | 49 |
Net cash provided by operating activities | 3,563 | 5,161 |
Cash flows from investing activities: | ||
Payments for property and equipment | (2,205) | (1,818) |
Proceeds from the disposal of property and equipment | 42 | 198 |
Proceeds from the disposal of certain operations | 833 | 0 |
Payments for business acquisitions, net of cash acquired | 56 | 0 |
Other investing activities | 251 | (62) |
Net cash used in investing activities | (1,135) | (1,682) |
Cash flows from financing activities: | ||
Net change in short-term borrowings | (399) | 2,501 |
Proceeds from issuance of long-term debt | 3,978 | 0 |
Repayments of long-term debt | (364) | (2,521) |
Dividends paid | (1,520) | (1,533) |
Purchase of Company stock | (2,135) | (539) |
Dividends paid to noncontrolling interest | (96) | (66) |
Other financing activities | (310) | (328) |
Net cash used in financing activities | (846) | (2,486) |
Effect of exchange rates on cash, cash equivalents and restricted cash | (46) | 143 |
Net increase (decrease) in cash, cash equivalents and restricted cash | 1,536 | 1,136 |
Cash, cash equivalents and restricted cash at beginning of year | 7,756 | 7,014 |
Cash, cash equivalents and restricted cash at end of period | $ 9,292 | $ 8,150 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 3 Months Ended |
Apr. 30, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of presentation | Accounting Policies Basis of Presentation The Condensed Consolidated Financial Statements of Walmart Inc. and its subsidiaries ("Walmart" or the "Company") and the accompanying notes included in this Quarterly Report on Form 10-Q are unaudited. In the opinion of management, all adjustments necessary for the fair presentation of the Condensed Consolidated Financial Statements have been included. Such adjustments are of a normal, recurring nature. The Condensed Consolidated Financial Statements, and the accompanying notes, are prepared in accordance with generally accepted accounting principles in the United States ("GAAP") and do not contain certain information included in the Company's Annual Report on Form 10-K for the fiscal year ended January 31, 2019 ("fiscal 2019 "). Therefore, the interim Condensed Consolidated Financial Statements should be read in conjunction with that Annual Report on Form 10-K . The Company's Consolidated Financial Statements are based on a fiscal year ending January 31 for the United States ("U.S.") and Canadian operations. The Company consolidates all other operations generally using a one-month lag and based on a calendar year. There were no significant intervening events during the month of April related to the operations consolidated using a lag that materially affected the Condensed Consolidated Financial Statements. The Company's business is seasonal to a certain extent due to calendar events and national and religious holidays, as well as weather patterns. Historically, the Company's highest sales volume and operating income have occurred in the fiscal quarter ending January 31. Restricted Cash Restricted cash held outside of cash and cash equivalents was $37 million and $34 million as of April 30, 2019 and January 31, 2019 , respectively, and was primarily recorded in prepaid expenses and other in the Condensed Consolidated Balance Sheets. Restricted cash held outside of cash and cash equivalents was $300 million as of April 30, 2018 and January 31, 2018, respectively, and was primarily recorded in other long-term assets in the Condensed Consolidated Balance Sheets. Inventories At April 30, 2019 and January 31, 2019 , the Company's inventories valued at LIFO approximated those inventories as if they were valued at FIFO. Leases In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , which requires lease assets and liabilities to be recorded on the balance sheet. The Company adopted this ASU and related amendments as of February 1, 2019 under the modified retrospective approach and elected certain practical expedients permitted under the transition guidance, including to retain the historical lease classification as well as relief from reviewing expired or existing contracts to determine if they contain leases. For leases subject to index or rate adjustments, the most current index or rate adjustments were included in the measurement of operating lease obligations at adoption. The adoption of this ASU and related amendments resulted in a $14.8 billion increase to total assets and a $15.1 billion increase to total liabilities as of April 30, 2019. The Company recognized $16.8 billion and $17.5 billion of operating lease right-of-use assets and operating lease obligations, respectively, and removed $2.2 billion and $1.7 billion , respectively, of assets and liabilities related to financial obligations connected with the construction of leased stores. Several other asset and liability line items in the Company's Condensed Consolidated Balance Sheet were also impacted by immaterial amounts. Additionally, the adoption resulted in a cumulative-effect adjustment to retained earnings of approximately $0.3 billion , net of tax, which primarily consisted of the recognition of impairment. The Company’s Condensed Consolidated Statements of Income and Condensed Consolidated Statements of Cash Flows were immaterially impacted. Updated accounting policies as a result of the adoption of this ASU are described below. Note 10 provides additional lease disclosures. For any new or modified lease, the Company, at the inception of the contract, determines whether a contract is or contains a lease. The Company records right-of-use ("ROU") assets and lease obligations for its finance and operating leases, which are initially recognized based on the discounted future minimum lease payments over the term of the lease. As the rate implicit in the Company's leases is not easily determinable, the Company’s applicable incremental borrowing rate is used in calculating the present value of the sum of the lease payments. Lease term is defined as the non-cancelable period of the lease plus any options to extend or terminate the lease when it is reasonably certain that the Company will exercise the option. The Company has elected not to recognize ROU asset and lease obligations for its short-term leases, which are defined as leases with an initial term of 12 months or less. For a majority of all classes of underlying assets, the Company has elected to not separate lease from non-lease components. For leases in which the lease and non-lease components have been combined, the variable lease expense includes expenses such as common area maintenance, utilities, and repairs and maintenance. Revenue Recognition Contract Balances Contract balances as a result of transactions with customers primarily consist of receivables included in receivables, net, and deferred gift card revenue included in accrued liabilities in the Company's Condensed Consolidated Balance Sheets. The following table provides the Company's receivables and deferred gift card revenue from transactions with customers: (Amounts in millions) April 30, 2019 January 31, 2019 Assets: Receivables from transactions with customers, net $ 2,566 $ 2,538 Liabilities: Deferred gift card revenue $ 1,899 $ 1,932 Derivatives In fiscal 2020, the Company adopted ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities . The adoption of the standard had no current or historical impact on the Company's Condensed Consolidated Financial Statements. The Company continues to use qualitative methods to assess the effectiveness of its designated hedging relationships. Upon adopting ASU 2017-12, the Company modified its existing hedge documentation to use a quantitative method for assessing effectiveness when the hedge is subsequently determined to be ineffective under the qualitative method. There were no other significant changes to the Company's accounting policies for derivatives. Recent Accounting Pronouncements Financial Instruments In June 2016, the FASB issued ASU 2016-13, Financial Instruments–Credit Losses (Topic 326) , which modifies the measurement of expected credit losses of certain financial instruments. The Company will adopt this ASU on February 1, 2020. Management is currently evaluating this ASU to determine its impact to the Company's Consolidated Financial Statements. |
Net Income Per Common Share
Net Income Per Common Share | 3 Months Ended |
Apr. 30, 2019 | |
Earnings Per Share [Abstract] | |
Net income per common share | Net Income Per Common Share Basic net income per common share attributable to Walmart is based on the weighted-average common shares outstanding during the relevant period. Diluted net income per common share attributable to Walmart is based on the weighted-average common shares outstanding during the relevant period adjusted for the dilutive effect of share-based awards. The Company did not have significant share-based awards outstanding that were anti-dilutive and not included in the calculation of diluted net income per common share attributable to Walmart for the three months ended April 30, 2019 and 2018 . The following table provides a reconciliation of the numerators and denominators used to determine basic and diluted net income per common share attributable to Walmart: Three Months Ended April 30, (Amounts in millions, except per share data) 2019 2018 Numerator Consolidated net income $ 3,906 $ 2,276 Consolidated net income attributable to noncontrolling interest (64 ) (142 ) Consolidated net income attributable to Walmart $ 3,842 $ 2,134 Denominator Weighted-average common shares outstanding, basic 2,869 2,950 Dilutive impact of share-based awards 17 17 Weighted-average common shares outstanding, diluted 2,886 2,967 Net income per common share attributable to Walmart Basic $ 1.34 $ 0.72 Diluted 1.33 0.72 |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Loss | 3 Months Ended |
Apr. 30, 2019 | |
Other Comprehensive Income (Loss), Tax [Abstract] | |
Accumulated Other Comprehensive Loss | Accumulated Other Comprehensive Loss The following table provides the changes in the composition of total accumulated other comprehensive loss for the three months ended April 30, 2019 : (Amounts in millions and net of income taxes) Currency Unrealized Gain on Available-for-Sale Securities Net Investment Hedges Cash Flow Hedges Minimum Total Balances as of February 1, 2019 $ (12,085 ) $ — $ 1,395 $ (140 ) $ (712 ) $ (11,542 ) Other comprehensive income (loss) before reclassifications, net (1) 496 — 108 (145 ) (7 ) 452 Reclassifications to income, net (1) (23 ) — — 14 8 (1 ) Balances as of April 30, 2019 $ (11,612 ) $ — $ 1,503 $ (271 ) $ (711 ) $ (11,091 ) (1) Income tax impact is immaterial The following table provides the changes in the composition of total accumulated other comprehensive loss for the three months ended April 30, 2018 : (Amounts in millions and net of income taxes) Currency Translation and Other Unrealized Gain on Available-for-Sale Securities Net Investment Hedges Cash Flow Hedges Minimum Pension Liability Total Balances as of February 1, 2018 $ (12,136 ) $ 1,646 $ 1,030 $ 122 $ (843 ) $ (10,181 ) Adoption of new accounting standards on February 1, 2018, net (1) (2) 89 (1,646 ) 93 28 — (1,436 ) Other comprehensive income (loss) before reclassifications, net (1) 1,302 — 68 (86 ) 32 1,316 Reclassifications to income, net (1) — — — 9 11 20 Balances as of April 30, 2018 $ (10,745 ) $ — $ 1,191 $ 73 $ (800 ) $ (10,281 ) (1) Income tax impact is immaterial (2) Primarily relates to the adoption of ASU 2016-01, Financial Instruments–Overall and ASU 2018-02, Income Statement – Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income Amounts reclassified from accumulated other comprehensive loss to net income for derivative instruments are recorded in interest, net, in the Company's Condensed Consolidated Statements of Income. Amounts reclassified from accumulated other comprehensive loss to net income for the minimum pension liability, as well as the cumulative translation resulting from the disposition of a business, are recorded in other gains and losses in the Company's Condensed Consolidated Statements of Income. |
Long-term Debt
Long-term Debt | 3 Months Ended |
Apr. 30, 2019 | |
Long-term Debt, by Current and Noncurrent [Abstract] | |
Long-term debt | Long-term Debt The following table provides the changes in the Company's long-term debt for the three months ended April 30, 2019 : (Amounts in millions) Long-term debt due within one year Long-term debt Total Balances as of February 1, 2019 $ 1,876 $ 43,520 $ 45,396 Proceeds from issuance of long-term debt — 3,978 3,978 Repayments of long-term debt (364 ) — (364 ) Other (48 ) (73 ) (121 ) Balances as of April 30, 2019 $ 1,464 $ 47,425 $ 48,889 Debt Issuances Information on long-term debt issued during the three months ended April 30, 2019 for general corporate purposes is as follows: (Amounts in millions) Issue Date Principal Amount Maturity Date Fixed vs. Floating Interest Rate Net Proceeds April 23, 2019 1,500 USD July 8, 2024 Fixed 2.850% $ 1,493 April 23, 2019 1,250 USD July 8, 2026 Fixed 3.050% 1,242 April 23, 2019 1,250 USD July 8, 2029 Fixed 3.250% 1,243 Total $ 3,978 These issuances are senior, unsecured notes which rank equally with all other senior, unsecured debt obligations of the Company, and are not convertible or exchangeable. These issuances do not contain any financial covenants and do not restrict the Company's ability to pay dividends or repurchase company stock. Maturities The following table provides details of debt repayments during the three months ended April 30, 2019 : (Amounts in millions) Maturity Date Original Amount Fixed vs. Floating Interest Rate Repayment February 1, 2019 500 USD Fixed 4.125% $ 364 Total repayment of matured debt $ 364 |
Fair Value Measurements
Fair Value Measurements | 3 Months Ended |
Apr. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair value measurements | Fair Value Measurements Assets and liabilities recorded at fair value are measured using the fair value hierarchy, which prioritizes the inputs used in measuring fair value. The levels of the fair value hierarchy are: • Level 1: observable inputs such as quoted prices in active markets; • Level 2: inputs other than quoted prices in active markets that are either directly or indirectly observable; and • Level 3: unobservable inputs for which little or no market data exists, therefore requiring the Company to develop its own assumptions. The Company has equity investments, primarily its investment in JD.com, Inc. ("JD"), measured at fair value on a recurring basis included in other long-term assets in the accompanying Condensed Consolidated Balance Sheet as follows: • The purchased portion of the investment in JD measured using Level 1 inputs, and • The portion of the investment in JD received in exchange for selling certain assets related to Yihaodian, the Company's former eCommerce operations in China, measured using Level 2 inputs. Fair value is determined primarily using quoted prices in active markets for similar assets. Information for the fair value of the Company's investment in JD is as follows: (Amounts in millions) Fair Value as of April 30, 2019 Fair Value as of January 31, 2019 Investment in JD measured using Level 1 inputs $ 2,181 $ 1,791 Investment in JD measured using Level 2 inputs 2,185 1,792 Total $ 4,366 $ 3,583 The changes in fair value for the Company's investment in JD is included in other gains and losses in the Company's Condensed Consolidated Statements of Income. The Company also holds derivative instruments. Derivative fair values are the estimated amounts the Company would receive or pay upon termination of the related derivative agreements as of the reporting dates. The fair values have been measured using the income approach and Level 2 inputs, which include the relevant interest yield and foreign currency forward curves. As of April 30, 2019 and January 31, 2019 , the notional amounts and fair values of these derivatives were as follows: April 30, 2019 January 31, 2019 (Amounts in millions) Notional Amount Fair Value Notional Amount Fair Value Receive fixed-rate, pay variable-rate interest rate swaps designated as fair value hedges $ 4,000 $ (42 ) $ 4,000 $ (78 ) Receive fixed-rate, pay fixed-rate cross-currency swaps designated as net investment hedges 2,250 392 2,250 334 Receive fixed-rate, pay fixed-rate cross-currency swaps designated as cash flow hedges 4,090 (408 ) 4,173 (272 ) Total $ 10,340 $ (58 ) $ 10,423 $ (16 ) Nonrecurring Fair Value Measurements In addition to assets and liabilities that are recorded at fair value on a recurring basis, the Company's assets and liabilities are also subject to nonrecurring fair value measurements. Generally, fair value measurements on a nonrecurring basis are required as a result of impairment charges or business acquisitions. The Company did not have any material assets or liabilities subject to nonrecurring fair value measurements as of April 30, 2019 or January 31, 2019 , respectively. Other Fair Value Disclosures The Company records cash and cash equivalents, restricted cash, and short-term borrowings at cost. The carrying values of these instruments approximate their fair value due to their short-term maturities. The Company's long-term debt is also recorded at cost. The fair value is estimated using Level 2 inputs based on the Company's current incremental borrowing rate for similar types of borrowing arrangements. The carrying value and fair value of the Company's long-term debt as of April 30, 2019 and January 31, 2019 , are as follows: April 30, 2019 January 31, 2019 (Amounts in millions) Carrying Value Fair Value Carrying Value Fair Value Long-term debt, including amounts due within one year $ 48,889 $ 53,707 $ 45,396 $ 49,570 |
Derivative Financial Instrument
Derivative Financial Instruments | 3 Months Ended |
Apr. 30, 2019 | |
Summary of Derivative Instruments [Abstract] | |
Derivative financial instruments | Derivative Financial Instruments In connection with various derivative agreements, including master netting arrangements, the Company held cash collateral from counterparties of $209 million and $220 million at April 30, 2019 and January 31, 2019 , respectively. Furthermore, as part of the master netting arrangements with each of these counterparties, the Company is also required to post collateral with a counterparty if the Company's net derivative liability position exceeds $150 million with such counterparties. The Company did not have any cash collateral posted with counterparties at April 30, 2019 or January 31, 2019 , respectively. At April 30, 2019 and January 31, 2019 , the Company had ¥180 billion of outstanding long-term debt designated as a hedge of its net investment in Japan, as well as outstanding long-term debt of £1.7 billion at April 30, 2019 and January 31, 2019 , that was designated as a hedge of its net investment in the United Kingdom. These nonderivative net investment hedges will mature on dates ranging from July 2020 to January 2039 . The Company's derivative instruments, as well as its nonderivative debt instruments designated and qualifying as net investment hedges, were classified as follows in the Company's Condensed Consolidated Balance Sheets: April 30, 2019 January 31, 2019 (Amounts in millions) Fair Value Net Investment Cash Flow Fair Value Net Investment Instruments Cash Flow Derivative instruments Derivative assets: Other long-term assets $ — $ 392 $ 41 $ — $ 334 $ 78 Derivative liabilities: Deferred income taxes and other 42 — 449 78 — 350 Nonderivative hedging instruments Long-term debt — 3,794 — — 3,863 — Amounts related to the Company's derivatives expected to be reclassified from accumulated other comprehensive loss to net income during the next 12 months are not significant. |
Contingencies
Contingencies | 3 Months Ended |
Apr. 30, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Contingencies | Contingencies Legal Proceedings The Company is involved in a number of legal proceedings. The Company has made accruals with respect to these matters, where appropriate, which are reflected in the Company's Condensed Consolidated Financial Statements. For some matters, a liability is not probable or the amount cannot be reasonably estimated and therefore an accrual has not been made. However, where a liability is reasonably possible and may be material, such matters have been disclosed. The Company may enter into discussions regarding settlement of these matters, and may enter into settlement agreements, if it believes settlement is in the best interest of the Company and its shareholders. Unless stated otherwise, the matters discussed below, if decided adversely to or settled by the Company, individually or in the aggregate, may result in a liability material to the Company's financial condition or results of operations. ASDA Equal Value Claims ASDA Stores Ltd. ("Asda"), a wholly-owned subsidiary of the Company, is a defendant in over 30,000 equal value ("Equal Value") claims that began in 2008 and are proceeding before an Employment Tribunal in Manchester (the "Employment Tribunal") in the United Kingdom ("UK") on behalf of current and former Asda store employees, and further claims may be asserted in the future. The claimants allege that the work performed by female employees in Asda's retail stores is of equal value in terms of, among other things, the demands of their jobs compared to that of male employees working in Asda's warehouse and distribution facilities, and that the disparity in pay between these different job positions is not objectively justified. As a result, claimants are requesting differential back pay based on higher wage rates in the warehouse and distribution facilities and higher wage rates on a prospective basis. In March 2015, Asda asked the Employment Tribunal to stay all proceedings and to "strike out" substantially all of the claims because the claimants had not adhered to the Tribunal's procedural rule for including multiple claimants on the same claim form. In July 2015, the Employment Tribunal denied Asda's requests. Following additional proceedings, in June 2017 the Employment Appeal Tribunal ruled in favor of Asda on the "strike out" issue and remitted the matter to the Employment Tribunal to determine whether the improperly filed claims should be struck out. In October 2018, claimants appealed this ruling to the Court of Appeals and in January 2019, the Court of Appeals declined to strike out any claims relying on the Employment Tribunal’s finding that claimants had not deliberately disregarded the Tribunal’s procedural rule. As to the initial phase of the Equal Value claims, in October 2016 following a preliminary hearing, the Employment Tribunal ruled that claimants could compare their positions in Asda's retail stores with those of employees in Asda's warehouse and distribution facilities. In August 2017, the Employment Appeal Tribunal affirmed the Employment Tribunal's ruling and also granted permission for Asda to appeal substantially all of its findings. Asda sought permission to appeal the remainder of the Employment Appeal Tribunal's findings to the Court of Appeals and a hearing before the Court of Appeals on the comparability findings was held in October 2018. The Court of Appeals upheld the Employment Tribunal’s findings. Asda sought permission to appeal the Court of Appeals decision to the Supreme Court on February 27, 2019 and is awaiting a decision on its application. Claimants are now proceeding in the next phase of their claims. That phase will determine whether the work performed by the claimants is of equal value to the work performed by employees in Asda's warehouse and distribution facilities. At present, the Company cannot predict the number of such claims that may be filed, and cannot reasonably estimate any loss or range of loss that may arise from these proceedings. The Company believes it has substantial factual and legal defenses to these claims, and intends to defend the claims vigorously. National Prescription Opiate Litigation and Related Matters In December 2017, the United States Judicial Panel on Multidistrict Litigation consolidated numerous lawsuits filed against a wide array of defendants by various plaintiffs, including counties, cities, healthcare providers, Native American tribes, individuals, and third-party payors, asserting claims generally concerning the impacts of widespread opioid abuse. The consolidated multidistrict litigation is entitled In re National Prescription Opiate Litigation (MDL No. 2804) and is pending in the U.S. District Court for the Northern District of Ohio. The Company is named as a defendant in some of the cases included in this multidistrict litigation. Similar cases that name the Company have also been filed in state courts by state, local and tribal governments, health care providers and other plaintiffs. Plaintiffs are seeking compensatory and punitive damages, as well as injunctive relief including abatement. The Company cannot predict the number of such claims that may be filed, but believes it has substantial factual and legal defenses to these claims, and intends to defend the claims vigorously. The Company has also been responding to subpoenas, information requests and investigations from governmental entities related to nationwide controlled substance dispensing and distribution practices involving opioids. The Company cannot reasonably estimate any loss or range of loss that may arise from these matters. Accordingly, the Company can provide no assurance as to the scope and outcome of these matters and no assurance as to whether its business, financial position, results of operations or cash flows will not be materially adversely affected. FCPA Investigation and Related Matters The Audit Committee (the "Audit Committee") of the Board of Directors of the Company has been conducting an internal investigation into, among other things, alleged violations of the U.S. Foreign Corrupt Practices Act ("FCPA") and other alleged crimes or misconduct in connection with foreign subsidiaries, including Wal-Mart de México, S.A.B. de C.V. ("Walmex"), and whether prior allegations of such violations and/or misconduct were appropriately handled by the Company. The Audit Committee and the Company engaged outside counsel from a number of law firms and other advisors who assisted in the investigation of these matters. The Company also conducted a voluntary global review of its policies, practices and internal controls for anti-corruption compliance and, as part of that review, strengthened and enhanced its global anti-corruption compliance program through appropriate remedial anti-corruption measures. In November 2011, the Company voluntarily disclosed that investigative activity to the U.S. Department of Justice (the "DOJ") and the Securities and Exchange Commission (the "SEC"). Since the implementation of the global review and the enhanced anti-corruption compliance program, the Audit Committee and the Company identified or were made aware of additional allegations regarding potential violations of the FCPA. When such allegations were reported or identified, the Audit Committee and the Company, together with their third-party advisors, conducted inquiries and investigations. Inquiries or investigations regarding allegations of potential FCPA violations were conducted in a number of foreign markets where the Company operates or has operated, including, but not limited to, Brazil, China and India. As previously disclosed, the Company is under investigation by the DOJ and the SEC regarding possible violations of the FCPA. The Company has been cooperating with the agencies and discussions have been ongoing regarding the resolution of these matters. These discussions progressed to a point that, in fiscal 2018, the Company reasonably estimated a probable loss and recorded an aggregate accrual of $283 million with respect to these matters (the "Accrual"). While the Company believes the final resolution of these matters is nearing a conclusion, there can be no assurance as to the timing or the terms of the final resolution of these matters. A number of federal and local government agencies in Mexico also investigated these matters. Walmex cooperated with the Mexican governmental agencies that conducted these investigations. Furthermore, lawsuits relating to the matters under investigation were filed by several of the Company's shareholders against Walmart, certain current and former directors and former officers and certain of Walmex's former officers. These matters have been resolved. Existing lawsuits relating to the allegations have been resolved, but the Company could be exposed to a variety of negative consequences as a result of the matters noted above. There could be one or more enforcement actions or lawsuits in respect of the matters that are the subject of some or all of the on-going government investigations, and such actions, if brought, may result in judgments, settlements, fines, penalties, injunctions, cease and desist orders, debarment or other relief, criminal convictions and/or penalties. The Company expects that there will be on-going media and governmental interest, including additional news articles on these matters, which could impact the perception among certain audiences of the Company's role as a corporate citizen. In addition, the Company has incurred and expects to continue to incur costs in responding to requests for information or subpoenas seeking documents, testimony and other information in connection with the government investigations and in conducting the investigations. These costs will be expensed as incurred. For the three months ended April 30, 2019 and 2018 , the Company incurred the following third-party expenses in connection with the FCPA investigation and related matters: Three Months Ended April 30, (Amounts in millions) 2019 2018 Ongoing inquiries and investigations $ 2 $ 4 Global compliance program and organizational enhancements 2 3 Total $ 4 $ 7 The Company does not presently believe that these matters, including the payment of the Accrual at some point-in-time in the future, will have a material adverse effect on its business, financial position, results of operations or cash flows , although given the inherent uncertainties in such situations, the Company can provide no assurance that these matters will not be material to its business, financial position, results of operations or cash flows in the future. |
Disposals, Acquisitions and Rel
Disposals, Acquisitions and Related Items | 3 Months Ended |
Apr. 30, 2019 | |
Business Combinations [Abstract] | |
Disposals, acquisitions and related items | Disposals, Acquisitions and Related Items The following disposals, acquisitions and related items pertain to the Company's Walmart International segment. Other immaterial transactions have also occurred or have been announced. Walmart Brazil In August 2018, the Company sold an 80 percent stake of Walmart Brazil to Advent International ("Advent"). Under the terms, Advent agreed to contribute additional capital to the business over a three-year period and Walmart agreed to indemnify Advent for certain matters. Additionally, the Company may receive up to approximately $250 million in contingent consideration. As a result, the Company recorded a pre-tax net loss of $4.8 billion during the second quarter of fiscal 2019 in other gains and losses in the Company's Condensed Consolidated Statement of Income. In calculating the loss, the fair value of the disposal group was reduced by $0.8 billion related to an indemnity, for which a liability was recognized upon closing and is recorded in deferred income taxes and other in the Company's Condensed Consolidated Balance Sheets. The Company indemnified Advent for certain pre-closing tax and legal contingencies and other matters for up to R$2.3 billion , adjusted for interest based on the Brazilian interbank deposit rate. The Company deconsolidated the financial statements of Walmart Brazil during the third quarter of fiscal 2019 and began accounting for its remaining 20 percent ownership interest using the equity method of accounting. This equity method investment was determined to have no fair value and continues to have no carrying value. Flipkart In August 2018, the Company acquired 81 percent of the outstanding shares, or 77 percent of the diluted shares, of Flipkart, an Indian-based eCommerce marketplace , for cash consideration of approximately $16 billion . The acquisition increases the Company's investment in India, a large, growing economy. The purchase price allocation, which is still preliminary primarily due to certain tax items, is as follows: • Assets of $24.1 billion , which comprise primarily of $2.2 billion in cash and cash equivalents, $2.8 billion in other current assets, $5.0 billion in intangible assets and $13.5 billion in goodwill. Of the intangible assets, $4.7 billion represents the fair value of trade names, each with an indefinite life, which were estimated using the income approach based on Level 3 unobservable inputs. The remaining $0.3 billion of intangible assets primarily relate to acquired technology with a life of 3 years. The goodwill arising from the acquisition consists largely of anticipated synergies and economies of scale primarily related to procurement and logistics and is not expected to be deductible for tax purposes; • Liabilities of $3.7 billion , which comprise primarily of $1.8 billion of current liabilities and $1.8 billion of deferred income taxes; and • Noncontrolling interest of $4.3 billion , for which the fair value was estimated using the income approach based on Level 3 unobservable inputs. Asda In April 2019, the Company announced the termination of a previously announced merger agreement that would have provided for the combination of J Sainsbury plc and Asda Group Limited, the Company's U.K. subsidiary. As the proposed transaction had not yet met the held for sale criteria, the announcement of its termination had no impact on the Company's Condensed Consolidated Financial Statements. |
Segments
Segments | 3 Months Ended |
Apr. 30, 2019 | |
Segment Reporting Information, Profit (Loss) [Abstract] | |
Segments | Segments and Disaggregated Revenue Segments The Company is engaged in the operation of retail, wholesale and other units, as well as eCommerce websites, located throughout the U.S., Africa, Argentina, Canada, Central America, Chile, China, India, Japan, Mexico, and the United Kingdom, as well as Brazil until the sale of the majority stake discussed in Note 8 . The Company's operations are conducted in three reportable segments: Walmart U.S., Walmart International and Sam's Club. The Company defines its segments as those operations whose results the 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 revenues for each of these individual products and services. The Walmart U.S. segment includes the Company's mass merchant concept in the U.S., as well as eCommerce and omni-channel initiatives. The Walmart International segment consists of the Company's operations outside of the U.S., as well as eCommerce and omni-channel initiatives. The Sam's Club segment includes the warehouse membership clubs in the U.S., as well as samsclub.com and omni-channel initiatives. Corporate and support 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 determined by the information regularly reviewed by its CODM. When the measurement of a segment changes, previous period amounts and balances are reclassified to be comparable to the current period's presentation. Net sales by segment are as follows: Three Months Ended April 30, (Amounts in millions) 2019 2018 Net sales: Walmart U.S. $ 80,344 $ 77,748 Walmart International 28,775 30,260 Sam's Club 13,830 13,622 Net sales $ 122,949 $ 121,630 Operating income by segment, as well as operating loss for corporate and support, interest, net and other gains and losses are as follows: Three Months Ended April 30, (Amounts in millions) 2019 2018 Operating income (loss): Walmart U.S. $ 4,142 $ 3,927 Walmart International 738 1,265 Sam's Club 451 325 Corporate and support (386 ) (363 ) Operating income 4,945 5,154 Interest, net 625 487 Other (gains) and losses (837 ) 1,845 Income before income taxes $ 5,157 $ 2,822 Disaggregated Revenues In the following tables, segment net sales are disaggregated by either merchandise category or market. In addition, net sales related to eCommerce are provided for each segment, which include omni-channel sales, where a customer initiates an order online and the order is fulfilled through a store or club. (Amounts in millions) Three Months Ended April 30, Walmart U.S. net sales by merchandise category 2019 2018 Grocery $ 45,404 $ 43,860 General merchandise 24,607 24,174 Health and wellness 9,518 9,128 Other categories 815 586 Total $ 80,344 $ 77,748 Of Walmart U.S.'s total net sales, approximately $4.3 billion and $3.2 billion related to eCommerce for the three months ended April 30, 2019 and 2018 , respectively. (Amounts in millions) Three Months Ended April 30, Walmart International net sales by market 2019 2018 Mexico and Central America $ 7,837 $ 7,684 United Kingdom 7,077 7,515 Canada 4,122 4,254 China 3,063 3,205 Other 6,676 7,602 Total $ 28,775 $ 30,260 Of International's total net sales, approximately $2.5 billion and $1.0 billion related to eCommerce for the three months ended April 30, 2019 and 2018 , respectively. (Amounts in millions) Three Months Ended April 30, Sam’s Club net sales by merchandise category 2019 2018 Grocery and consumables $ 8,373 $ 8,012 Fuel, tobacco and other categories 2,777 2,919 Home and apparel 1,178 1,202 Health and wellness 827 801 Technology, office and entertainment 675 688 Total $ 13,830 $ 13,622 Of Sam's Club's total net sales, approximately $0.7 billion and $0.6 billion related to eCommerce for the three months ended April 30, 2019 and 2018 , respectively. |
Leases
Leases | 3 Months Ended |
Apr. 30, 2019 | |
Leases [Abstract] | |
Leases of Lessee Disclosure [Text Block] | Leases The Company leases certain retail locations, distribution and fulfillment centers, warehouses, office spaces, land and equipment throughout the U.S. and internationally. The Company's lease cost consists of the following: (Amounts in millions) Three Months Ended April 30, 2019 Operating lease cost $ 636 Finance lease cost Amortization of right-of-use assets 111 Interest on lease obligations 77 Variable lease cost 167 Other lease information is as follows: (Dollar amounts in millions) Three Months Ended April 30, 2019 Cash paid for amounts included in measurement of lease obligations: Operating cash flows from operating leases $ 639 Operating cash flows from finance leases 49 Financing cash flows from finance leases 134 Assets obtained in exchange for operating lease obligations 189 Assets obtained in exchange for finance lease obligations 95 Weighted-average remaining lease term - operating leases 15.8 years Weighted-average remaining lease term - finance leases 14.4 years Weighted-average discount rate - operating leases 5.3 % Weighted-average discount rate - finance leases 9.5 % The aggregate annual lease obligations at April 30, 2019 are as follows: (Amounts in millions) Fiscal Year Operating Leases Finance Leases Remainder of 2020 $ 1,819 $ 533 2021 2,346 676 2022 2,105 621 2023 1,903 506 2024 1,718 447 Thereafter 15,699 5,367 Total undiscounted lease obligations 25,590 8,150 Less imputed interest (8,123 ) (3,905 ) Net lease obligations $ 17,467 $ 4,245 Upon adoption of ASU 2016-02, Leases (Topic 842), the Company's aggregate annual lease obligations includes leases with reasonably assured renewals. The aggregate minimum annual lease rentals as of January 31, 2019 for the remaining contractual term of non-cancelable leases under ASC 840 were as follows: (Amounts in millions) Fiscal Year Operating Leases (1) Capital Lease and Financing Obligations 2020 $ 1,856 $ 917 2021 1,655 856 2022 1,420 794 2023 1,233 667 2024 1,063 593 Thereafter 6,891 6,069 Total minimum rentals $ 14,118 $ 9,896 Less estimated executory costs 23 Net minimum lease payments 9,873 Financing obligation noncash gains and other 2,278 Less imputed interest (4,739 ) Present value of minimum lease payments $ 7,412 (1) Represents minimum contractual obligation for non-cancelable leases with initial or remaining terms greater than 12 months as of January 31, 2019 . |
Accounting Policies Summary of
Accounting Policies Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Apr. 30, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation and Significant Accounting Policies [Text Block] | Basis of Presentation The Condensed Consolidated Financial Statements of Walmart Inc. and its subsidiaries ("Walmart" or the "Company") and the accompanying notes included in this Quarterly Report on Form 10-Q are unaudited. In the opinion of management, all adjustments necessary for the fair presentation of the Condensed Consolidated Financial Statements have been included. Such adjustments are of a normal, recurring nature. The Condensed Consolidated Financial Statements, and the accompanying notes, are prepared in accordance with generally accepted accounting principles in the United States ("GAAP") and do not contain certain information included in the Company's Annual Report on Form 10-K for the fiscal year ended January 31, 2019 ("fiscal 2019 "). Therefore, the interim Condensed Consolidated Financial Statements should be read in conjunction with that Annual Report on Form 10-K . The Company's Consolidated Financial Statements are based on a fiscal year ending January 31 for the United States ("U.S.") and Canadian operations. The Company consolidates all other operations generally using a one-month lag and based on a calendar year. There were no significant intervening events during the month of April related to the operations consolidated using a lag that materially affected the Condensed Consolidated Financial Statements. The Company's business is seasonal to a certain extent due to calendar events and national and religious holidays, as well as weather patterns. Historically, the Company's highest sales volume and operating income have occurred in the fiscal quarter ending January 31. |
Lessee, Leases [Policy Text Block] | Leases In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , which requires lease assets and liabilities to be recorded on the balance sheet. The Company adopted this ASU and related amendments as of February 1, 2019 under the modified retrospective approach and elected certain practical expedients permitted under the transition guidance, including to retain the historical lease classification as well as relief from reviewing expired or existing contracts to determine if they contain leases. For leases subject to index or rate adjustments, the most current index or rate adjustments were included in the measurement of operating lease obligations at adoption. The adoption of this ASU and related amendments resulted in a $14.8 billion increase to total assets and a $15.1 billion increase to total liabilities as of April 30, 2019. The Company recognized $16.8 billion and $17.5 billion of operating lease right-of-use assets and operating lease obligations, respectively, and removed $2.2 billion and $1.7 billion , respectively, of assets and liabilities related to financial obligations connected with the construction of leased stores. Several other asset and liability line items in the Company's Condensed Consolidated Balance Sheet were also impacted by immaterial amounts. Additionally, the adoption resulted in a cumulative-effect adjustment to retained earnings of approximately $0.3 billion , net of tax, which primarily consisted of the recognition of impairment. The Company’s Condensed Consolidated Statements of Income and Condensed Consolidated Statements of Cash Flows were immaterially impacted. Updated accounting policies as a result of the adoption of this ASU are described below. Note 10 provides additional lease disclosures. For any new or modified lease, the Company, at the inception of the contract, determines whether a contract is or contains a lease. The Company records right-of-use ("ROU") assets and lease obligations for its finance and operating leases, which are initially recognized based on the discounted future minimum lease payments over the term of the lease. As the rate implicit in the Company's leases is not easily determinable, the Company’s applicable incremental borrowing rate is used in calculating the present value of the sum of the lease payments. Lease term is defined as the non-cancelable period of the lease plus any options to extend or terminate the lease when it is reasonably certain that the Company will exercise the option. The Company has elected not to recognize ROU asset and lease obligations for its short-term leases, which are defined as leases with an initial term of 12 months or less. For a majority of all classes of underlying assets, the Company has elected to not separate lease from non-lease components. For leases in which the lease and non-lease components have been combined, the variable lease expense includes expenses such as common area maintenance, utilities, and repairs and maintenance. |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition Contract Balances Contract balances as a result of transactions with customers primarily consist of receivables included in receivables, net, and deferred gift card revenue included in accrued liabilities in the Company's Condensed Consolidated Balance Sheets. The following table provides the Company's receivables and deferred gift card revenue from transactions with customers: (Amounts in millions) April 30, 2019 January 31, 2019 Assets: Receivables from transactions with customers, net $ 2,566 $ 2,538 Liabilities: Deferred gift card revenue $ 1,899 $ 1,932 |
New accounting pronouncements, policy | Recent Accounting Pronouncements Financial Instruments In June 2016, the FASB issued ASU 2016-13, Financial Instruments–Credit Losses (Topic 326) , which modifies the measurement of expected credit losses of certain financial instruments. The Company will adopt this ASU on February 1, 2020. Management is currently evaluating this ASU to determine its impact to the Company's Consolidated Financial Statements. |
Accounting Policies Summary o_2
Accounting Policies Summary of Significant Accounting Policies (Tables) | 3 Months Ended |
Apr. 30, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Contract with Customer, Asset and Liability [Table Text Block] | The following table provides the Company's receivables and deferred gift card revenue from transactions with customers: (Amounts in millions) April 30, 2019 January 31, 2019 Assets: Receivables from transactions with customers, net $ 2,566 $ 2,538 Liabilities: Deferred gift card revenue $ 1,899 $ 1,932 |
Net Income Per Common Share (Ta
Net Income Per Common Share (Tables) | 3 Months Ended |
Apr. 30, 2019 | |
Earnings Per Share [Abstract] | |
Schedule of calculation of numerator and denominator in earnings per share | The following table provides a reconciliation of the numerators and denominators used to determine basic and diluted net income per common share attributable to Walmart: Three Months Ended April 30, (Amounts in millions, except per share data) 2019 2018 Numerator Consolidated net income $ 3,906 $ 2,276 Consolidated net income attributable to noncontrolling interest (64 ) (142 ) Consolidated net income attributable to Walmart $ 3,842 $ 2,134 Denominator Weighted-average common shares outstanding, basic 2,869 2,950 Dilutive impact of share-based awards 17 17 Weighted-average common shares outstanding, diluted 2,886 2,967 Net income per common share attributable to Walmart Basic $ 1.34 $ 0.72 Diluted 1.33 0.72 |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Loss (Tables) | 3 Months Ended |
Apr. 30, 2019 | |
Other Comprehensive Income (Loss), Tax [Abstract] | |
Composition of accumulated other comprehensive loss | The following table provides the changes in the composition of total accumulated other comprehensive loss for the three months ended April 30, 2019 : (Amounts in millions and net of income taxes) Currency Unrealized Gain on Available-for-Sale Securities Net Investment Hedges Cash Flow Hedges Minimum Total Balances as of February 1, 2019 $ (12,085 ) $ — $ 1,395 $ (140 ) $ (712 ) $ (11,542 ) Other comprehensive income (loss) before reclassifications, net (1) 496 — 108 (145 ) (7 ) 452 Reclassifications to income, net (1) (23 ) — — 14 8 (1 ) Balances as of April 30, 2019 $ (11,612 ) $ — $ 1,503 $ (271 ) $ (711 ) $ (11,091 ) (1) Income tax impact is immaterial The following table provides the changes in the composition of total accumulated other comprehensive loss for the three months ended April 30, 2018 : (Amounts in millions and net of income taxes) Currency Translation and Other Unrealized Gain on Available-for-Sale Securities Net Investment Hedges Cash Flow Hedges Minimum Pension Liability Total Balances as of February 1, 2018 $ (12,136 ) $ 1,646 $ 1,030 $ 122 $ (843 ) $ (10,181 ) Adoption of new accounting standards on February 1, 2018, net (1) (2) 89 (1,646 ) 93 28 — (1,436 ) Other comprehensive income (loss) before reclassifications, net (1) 1,302 — 68 (86 ) 32 1,316 Reclassifications to income, net (1) — — — 9 11 20 Balances as of April 30, 2018 $ (10,745 ) $ — $ 1,191 $ 73 $ (800 ) $ (10,281 ) (1) Income tax impact is immaterial (2) Primarily relates to the adoption of ASU 2016-01, Financial Instruments–Overall and ASU 2018-02, Income Statement – Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income |
Long-term Debt (Tables)
Long-term Debt (Tables) | 3 Months Ended |
Apr. 30, 2019 | |
Long-term Debt, by Current and Noncurrent [Abstract] | |
Schedule of Long-term Debt Instruments [Table Text Block] | The following table provides the changes in the Company's long-term debt for the three months ended April 30, 2019 : (Amounts in millions) Long-term debt due within one year Long-term debt Total Balances as of February 1, 2019 $ 1,876 $ 43,520 $ 45,396 Proceeds from issuance of long-term debt — 3,978 3,978 Repayments of long-term debt (364 ) — (364 ) Other (48 ) (73 ) (121 ) Balances as of April 30, 2019 $ 1,464 $ 47,425 $ 48,889 |
Schedule of Fiscal Year 2020 Debt Issuances [Table Text Block] | Information on long-term debt issued during the three months ended April 30, 2019 for general corporate purposes is as follows: (Amounts in millions) Issue Date Principal Amount Maturity Date Fixed vs. Floating Interest Rate Net Proceeds April 23, 2019 1,500 USD July 8, 2024 Fixed 2.850% $ 1,493 April 23, 2019 1,250 USD July 8, 2026 Fixed 3.050% 1,242 April 23, 2019 1,250 USD July 8, 2029 Fixed 3.250% 1,243 Total $ 3,978 |
Schedule of Fiscal Year 2020 Debt Maturities [Table Text Block] | The following table provides details of debt repayments during the three months ended April 30, 2019 : (Amounts in millions) Maturity Date Original Amount Fixed vs. Floating Interest Rate Repayment February 1, 2019 500 USD Fixed 4.125% $ 364 Total repayment of matured debt $ 364 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 3 Months Ended |
Apr. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements, Recurring and Nonrecurring | Information for the fair value of the Company's investment in JD is as follows: (Amounts in millions) Fair Value as of April 30, 2019 Fair Value as of January 31, 2019 Investment in JD measured using Level 1 inputs $ 2,181 $ 1,791 Investment in JD measured using Level 2 inputs 2,185 1,792 Total $ 4,366 $ 3,583 The changes in fair value for the Company's investment in JD is included in other gains and losses in the Company's Condensed Consolidated Statements of Income. |
Notional amounts and fair values of derivatives | As of April 30, 2019 and January 31, 2019 , the notional amounts and fair values of these derivatives were as follows: April 30, 2019 January 31, 2019 (Amounts in millions) Notional Amount Fair Value Notional Amount Fair Value Receive fixed-rate, pay variable-rate interest rate swaps designated as fair value hedges $ 4,000 $ (42 ) $ 4,000 $ (78 ) Receive fixed-rate, pay fixed-rate cross-currency swaps designated as net investment hedges 2,250 392 2,250 334 Receive fixed-rate, pay fixed-rate cross-currency swaps designated as cash flow hedges 4,090 (408 ) 4,173 (272 ) Total $ 10,340 $ (58 ) $ 10,423 $ (16 ) |
Carrying value and fair value of long-term debt | The carrying value and fair value of the Company's long-term debt as of April 30, 2019 and January 31, 2019 , are as follows: April 30, 2019 January 31, 2019 (Amounts in millions) Carrying Value Fair Value Carrying Value Fair Value Long-term debt, including amounts due within one year $ 48,889 $ 53,707 $ 45,396 $ 49,570 |
Derivative Financial Instrume_2
Derivative Financial Instruments (Tables) | 3 Months Ended |
Apr. 30, 2019 | |
Summary of Derivative Instruments [Abstract] | |
Schedule of derivative instruments in statement of financial position, fair value | The Company's derivative instruments, as well as its nonderivative debt instruments designated and qualifying as net investment hedges, were classified as follows in the Company's Condensed Consolidated Balance Sheets: April 30, 2019 January 31, 2019 (Amounts in millions) Fair Value Net Investment Cash Flow Fair Value Net Investment Instruments Cash Flow Derivative instruments Derivative assets: Other long-term assets $ — $ 392 $ 41 $ — $ 334 $ 78 Derivative liabilities: Deferred income taxes and other 42 — 449 78 — 350 Nonderivative hedging instruments Long-term debt — 3,794 — — 3,863 — |
Contingencies Schedule of FCPA
Contingencies Schedule of FCPA Expenses (Tables) | 3 Months Ended |
Apr. 30, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Foreign corrupt practices act expenses | For the three months ended April 30, 2019 and 2018 , the Company incurred the following third-party expenses in connection with the FCPA investigation and related matters: Three Months Ended April 30, (Amounts in millions) 2019 2018 Ongoing inquiries and investigations $ 2 $ 4 Global compliance program and organizational enhancements 2 3 Total $ 4 $ 7 |
Segments (Tables)
Segments (Tables) | 3 Months Ended |
Apr. 30, 2019 | |
Disaggregation of Revenue [Line Items] | |
Segment Net Sales | Net sales by segment are as follows: Three Months Ended April 30, (Amounts in millions) 2019 2018 Net sales: Walmart U.S. $ 80,344 $ 77,748 Walmart International 28,775 30,260 Sam's Club 13,830 13,622 Net sales $ 122,949 $ 121,630 |
Operating Income by Segment, Interest, Net, and Unrealized (Gains) and Losses | Operating income by segment, as well as operating loss for corporate and support, interest, net and other gains and losses are as follows: Three Months Ended April 30, (Amounts in millions) 2019 2018 Operating income (loss): Walmart U.S. $ 4,142 $ 3,927 Walmart International 738 1,265 Sam's Club 451 325 Corporate and support (386 ) (363 ) Operating income 4,945 5,154 Interest, net 625 487 Other (gains) and losses (837 ) 1,845 Income before income taxes $ 5,157 $ 2,822 |
Walmart U.S. | |
Disaggregation of Revenue [Line Items] | |
Disaggregation of Revenue [Table Text Block] | (Amounts in millions) Three Months Ended April 30, Walmart U.S. net sales by merchandise category 2019 2018 Grocery $ 45,404 $ 43,860 General merchandise 24,607 24,174 Health and wellness 9,518 9,128 Other categories 815 586 Total $ 80,344 $ 77,748 |
Walmart International | |
Disaggregation of Revenue [Line Items] | |
Disaggregation of Revenue [Table Text Block] | (Amounts in millions) Three Months Ended April 30, Walmart International net sales by market 2019 2018 Mexico and Central America $ 7,837 $ 7,684 United Kingdom 7,077 7,515 Canada 4,122 4,254 China 3,063 3,205 Other 6,676 7,602 Total $ 28,775 $ 30,260 |
Sam's Club | |
Disaggregation of Revenue [Line Items] | |
Disaggregation of Revenue [Table Text Block] | (Amounts in millions) Three Months Ended April 30, Sam’s Club net sales by merchandise category 2019 2018 Grocery and consumables $ 8,373 $ 8,012 Fuel, tobacco and other categories 2,777 2,919 Home and apparel 1,178 1,202 Health and wellness 827 801 Technology, office and entertainment 675 688 Total $ 13,830 $ 13,622 |
Leases (Tables)
Leases (Tables) | 3 Months Ended |
Apr. 30, 2019 | |
Leases [Abstract] | |
Lease, Cost [Table Text Block] | The Company's lease cost consists of the following: (Amounts in millions) Three Months Ended April 30, 2019 Operating lease cost $ 636 Finance lease cost Amortization of right-of-use assets 111 Interest on lease obligations 77 Variable lease cost 167 |
Schedule of Other Information Relating to Lease Liabilities [Table Text Block] | Other lease information is as follows: (Dollar amounts in millions) Three Months Ended April 30, 2019 Cash paid for amounts included in measurement of lease obligations: Operating cash flows from operating leases $ 639 Operating cash flows from finance leases 49 Financing cash flows from finance leases 134 Assets obtained in exchange for operating lease obligations 189 Assets obtained in exchange for finance lease obligations 95 Weighted-average remaining lease term - operating leases 15.8 years Weighted-average remaining lease term - finance leases 14.4 years Weighted-average discount rate - operating leases 5.3 % Weighted-average discount rate - finance leases 9.5 % |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | The aggregate annual lease obligations at April 30, 2019 are as follows: (Amounts in millions) Fiscal Year Operating Leases Finance Leases Remainder of 2020 $ 1,819 $ 533 2021 2,346 676 2022 2,105 621 2023 1,903 506 2024 1,718 447 Thereafter 15,699 5,367 Total undiscounted lease obligations 25,590 8,150 Less imputed interest (8,123 ) (3,905 ) Net lease obligations $ 17,467 $ 4,245 |
Lessee, Operating Lease, Disclosure [Table Text Block] | The aggregate minimum annual lease rentals as of January 31, 2019 for the remaining contractual term of non-cancelable leases under ASC 840 were as follows: (Amounts in millions) Fiscal Year Operating Leases (1) Capital Lease and Financing Obligations 2020 $ 1,856 $ 917 2021 1,655 856 2022 1,420 794 2023 1,233 667 2024 1,063 593 Thereafter 6,891 6,069 Total minimum rentals $ 14,118 $ 9,896 Less estimated executory costs 23 Net minimum lease payments 9,873 Financing obligation noncash gains and other 2,278 Less imputed interest (4,739 ) Present value of minimum lease payments $ 7,412 (1) Represents minimum contractual obligation for non-cancelable leases with initial or remaining terms greater than 12 months as of January 31, 2019 . |
Accounting Policies Summary o_3
Accounting Policies Summary of Significant Accounting Policies (Leases) (Details) - USD ($) $ in Millions | Apr. 30, 2019 | Jan. 31, 2019 | Apr. 30, 2018 |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Total assets | $ 234,544 | $ 219,295 | $ 204,927 |
Operating lease right-of-use assets, net | 16,833 | 0 | 0 |
Operating lease obligations | 17,467 | ||
Retained earnings (net of tax) | 76,276 | $ 80,785 | $ 82,982 |
Accounting Standards Update 2016-02 [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Total assets | 14,800 | ||
Total liabilities | 15,100 | ||
Operating lease right-of-use assets, net | 16,800 | ||
Operating lease obligations | 17,500 | ||
Build-to-suit assets derecognized, net | (2,200) | ||
Build-to-suit liabilities derecognized | (1,700) | ||
Retained earnings (net of tax) | $ 300 |
Accounting Policies Summary o_4
Accounting Policies Summary of Significant Accounting Policies (Details) - USD ($) | Apr. 30, 2019 | Jan. 31, 2019 | Apr. 30, 2018 | Jan. 31, 2018 |
Restricted Cash [Abstract] | ||||
Restricted Cash | $ 37,000,000 | $ 34,000,000 | $ 300,000,000 | $ 300,000,000 |
Revenue from Contract with Customer [Abstract] | ||||
Receivables from transactions with customers, net | 2,566,000,000 | 2,538,000,000 | ||
Deferred gift card revenue | $ 1,899,000,000 | $ 1,932,000,000 |
Net Income Per Common Share (De
Net Income Per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | |
Apr. 30, 2019 | Apr. 30, 2018 | |
Net Income Per Common Share [Line Items] | ||
Consolidated net income | $ 3,906 | $ 2,276 |
Consolidated net income attributable to noncontrolling interest | (64) | (142) |
Consolidated net income attributable to Walmart | $ 3,842 | $ 2,134 |
Weighted-average common shares outstanding, basic (shares) | 2,869 | 2,950 |
Dilutive impact of share-based awards (shares) | 17 | 17 |
Weighted-average common shares outstanding, diluted (shares) | 2,886 | 2,967 |
Basic (dollars per share) | $ 1.34 | $ 0.72 |
Diluted (dollars per share) | $ 1.33 | $ 0.72 |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Apr. 30, 2019 | Apr. 30, 2018 | |
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Balances - beginning of period | $ (11,542) | $ (10,181) |
Adoption of new accounting standard, AOCI | (1,436) | |
Other comprehensive income (loss) before reclassifications | 452 | 1,316 |
Amounts reclassified from accumulated other comprehensive income (loss) | (1) | 20 |
Balances - end of period | (11,091) | (10,281) |
Currency Translation and Other | ||
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Balances - beginning of period | (12,085) | (12,136) |
Adoption of new accounting standard, AOCI | 89 | |
Other comprehensive income (loss) before reclassifications | 496 | 1,302 |
Amounts reclassified from accumulated other comprehensive income (loss) | (23) | 0 |
Balances - end of period | (11,612) | (10,745) |
Unrealized Gain on Available-for-Sale Securities | ||
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Balances - beginning of period | 0 | 1,646 |
Adoption of new accounting standard, AOCI | (1,646) | |
Other comprehensive income (loss) before reclassifications | 0 | 0 |
Amounts reclassified from accumulated other comprehensive income (loss) | 0 | 0 |
Balances - end of period | 0 | 0 |
Net Investment Hedges | ||
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Balances - beginning of period | 1,395 | 1,030 |
Adoption of new accounting standard, AOCI | 93 | |
Other comprehensive income (loss) before reclassifications | 108 | 68 |
Amounts reclassified from accumulated other comprehensive income (loss) | 0 | 0 |
Balances - end of period | 1,503 | 1,191 |
Cash Flow Hedges | ||
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Balances - beginning of period | (140) | 122 |
Adoption of new accounting standard, AOCI | 28 | |
Other comprehensive income (loss) before reclassifications | (145) | (86) |
Amounts reclassified from accumulated other comprehensive income (loss) | 14 | 9 |
Balances - end of period | (271) | 73 |
Minimum Pension Liability | ||
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Balances - beginning of period | (712) | (843) |
Adoption of new accounting standard, AOCI | 0 | |
Other comprehensive income (loss) before reclassifications | (7) | 32 |
Amounts reclassified from accumulated other comprehensive income (loss) | 8 | 11 |
Balances - end of period | $ (711) | $ (800) |
Long-term Debt Schedule of Long
Long-term Debt Schedule of Long-term Debt Instruments (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Apr. 30, 2019 | Apr. 30, 2018 | Jan. 31, 2019 | |
Long-term Debt, by Current and Noncurrent [Abstract] | |||
Long-term debt, current maturities | $ 1,464 | $ 1,576 | $ 1,876 |
Long-term debt, excluding current maturities | 47,425 | 29,477 | 43,520 |
Debt, long-term and short-term, combined amount | 48,889 | $ 45,396 | |
Proceeds from issuance of long-term debt | 3,978 | $ 0 | |
Repayments of long-term debt, current maturities | (364) | ||
Repayments of long-term debt, excluding current maturities | 0 | ||
Repayments of long-term debt, total | 364 | ||
Long-term debt, current maturities, other Changes | (48) | ||
Long-term debt, excluding current maturities, cther changes | (73) | ||
Long-term debt, other changes | $ (121) |
Long-term Debt Schedule of Fisc
Long-term Debt Schedule of Fiscal Year 2020 Debt Issuances (Details) - USD ($) $ in Millions | Apr. 23, 2019 | Apr. 30, 2019 | Apr. 30, 2018 |
Schedule of Fiscal Year 2020 Debt Issuances [Line Items] | |||
Proceeds from issuance of long-term debt | $ 3,978 | $ 0 | |
2.850% Debt Issuance, Due 2024 [Domain] | Unsecured Debt [Member] | |||
Schedule of Fiscal Year 2020 Debt Issuances [Line Items] | |||
Debt instrument, principal amount | $ 1,500 | ||
Debt instrument, interest rate | 2.85% | ||
Proceeds from issuance of long-term debt | $ 1,493 | ||
3.050% Debt Issuance, Due 2026 [Domain] | Unsecured Debt [Member] | |||
Schedule of Fiscal Year 2020 Debt Issuances [Line Items] | |||
Debt instrument, principal amount | $ 1,250 | ||
Debt instrument, interest rate | 3.05% | ||
Proceeds from issuance of long-term debt | $ 1,242 | ||
3.250% Debt Issuance, Due 2029 [Domain] | Unsecured Debt [Member] | |||
Schedule of Fiscal Year 2020 Debt Issuances [Line Items] | |||
Debt instrument, principal amount | $ 1,250 | ||
Debt instrument, interest rate | 3.25% | ||
Proceeds from issuance of long-term debt | $ 1,243 |
Long-term Debt Schedule of Fi_2
Long-term Debt Schedule of Fiscal Year 2020 Debt Maturities (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Apr. 30, 2019 | Apr. 30, 2018 | Feb. 01, 2019 | |
Schedule of Fiscal 2020 Debt Maturities [Line Items] | |||
Repayments of long-term debt | $ 364 | $ 2,521 | |
4.130% Fixed Rate Debt (500 USD), Due 2019 [Member] | Unsecured Debt [Member] | |||
Schedule of Fiscal 2020 Debt Maturities [Line Items] | |||
Debt instrument, principal amount | $ 500 | ||
Debt instrument, interest rate | 4.125% | ||
Repayments of long-term debt | $ 364 |
Fair Value Measurements Investm
Fair Value Measurements Investment in JD (Details) - JD.com [Member] - USD ($) $ in Millions | Apr. 30, 2019 | Jan. 31, 2019 |
Investment in JD [Line Items] | ||
Equity Securities, FV-NI | $ 4,366 | $ 3,583 |
Inputs, Level 1 [Member] | ||
Investment in JD [Line Items] | ||
Equity Securities, FV-NI | 2,181 | 1,791 |
Inputs, Level 2 [Member] | ||
Investment in JD [Line Items] | ||
Equity Securities, FV-NI | $ 2,185 | $ 1,792 |
Fair Value Measurements (Notion
Fair Value Measurements (Notional Amounts And Fair Values Of Interest Rate Swaps) (Details) - Recurring - USD ($) $ in Millions | Apr. 30, 2019 | Jan. 31, 2019 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Notional amount | $ 10,340 | $ 10,423 |
Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value | (58) | (16) |
Fair value hedging | Interest Rate Swap [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Notional amount | 4,000 | 4,000 |
Fair value hedging | Interest Rate Swap [Member] | Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value | (42) | (78) |
Net investment hedging | Cross-currency swaps | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Notional amount | 2,250 | 2,250 |
Net investment hedging | Cross-currency swaps | Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value | 392 | 334 |
Cash flow hedges | Cross-currency swaps | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Notional amount | 4,090 | 4,173 |
Cash flow hedges | Cross-currency swaps | Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value | $ (408) | $ (272) |
Fair Value Measurements (Carryi
Fair Value Measurements (Carrying Value And Fair Value Of Long-Term Debt) (Details) - USD ($) $ in Millions | Apr. 30, 2019 | Jan. 31, 2019 |
Carrying value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt | $ 48,889 | $ 45,396 |
Fair value | Inputs, Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, including amounts due within one year, fair value | $ 53,707 | $ 49,570 |
Derivative Financial Instrume_3
Derivative Financial Instruments (Narrative) (Details) $ in Millions, ¥ in Billions, £ in Billions | 3 Months Ended | |||||
Apr. 30, 2019JPY (¥) | Apr. 30, 2019GBP (£) | Jan. 31, 2019JPY (¥) | Jan. 31, 2019GBP (£) | Apr. 30, 2019USD ($) | Jan. 31, 2019USD ($) | |
Derivative [Line Items] | ||||||
Cash collateral held from counterparties | $ 209 | $ 220 | ||||
Threshold of derivative liability position requiring cash collateral | $ 150 | |||||
Designated as hedging instrument | Net investment hedging | Japan | ||||||
Derivative [Line Items] | ||||||
Notional amount of nonderivative instruments | ¥ | ¥ 180 | ¥ 180 | ||||
Designated as hedging instrument | Net investment hedging | United Kingdom | ||||||
Derivative [Line Items] | ||||||
Notional amount of nonderivative instruments | £ | £ 1.7 | £ 1.7 |
Derivative Financial Instrume_4
Derivative Financial Instruments (Balance Sheet Classification Of Financial Instruments) (Details) - USD ($) $ in Millions | Apr. 30, 2019 | Jan. 31, 2019 |
Fair value hedging | Other assets and deferred charges | ||
Derivative [Line Items] | ||
Derivative assets | $ 0 | $ 0 |
Fair value hedging | Deferred income taxes and other | ||
Derivative [Line Items] | ||
Derivative liabilities | 42 | 78 |
Net investment hedging | Other assets and deferred charges | ||
Derivative [Line Items] | ||
Derivative assets | 392 | 334 |
Net investment hedging | Deferred income taxes and other | ||
Derivative [Line Items] | ||
Derivative liabilities | 0 | 0 |
Net investment hedging | Long-term debt | ||
Derivative [Line Items] | ||
Nonderivative hedging instruments | 3,794 | 3,863 |
Cash flow hedges | Other assets and deferred charges | ||
Derivative [Line Items] | ||
Derivative assets | 41 | 78 |
Cash flow hedges | Deferred income taxes and other | ||
Derivative [Line Items] | ||
Derivative liabilities | $ 449 | $ 350 |
Contingencies (Details)
Contingencies (Details) $ in Millions | Apr. 30, 2019USD ($) |
Loss Contingencies [Line Items] | |
Loss contingency, estimate of possible loss | $ 283 |
Asda equal value lawsuit | |
Loss Contingencies [Line Items] | |
Loss contingency, claims filed, number | 30,000 |
Contingencies Schedule of FCP_2
Contingencies Schedule of FCPA Expenses (Details) - USD ($) $ in Millions | 3 Months Ended | |
Apr. 30, 2019 | Apr. 30, 2018 | |
Foreign Corrupt Practices Act Expenses [Line Items] | ||
Foreign corrupt practices act related expenses | $ 4 | $ 7 |
Inquiry and investigation expense | ||
Foreign Corrupt Practices Act Expenses [Line Items] | ||
Foreign corrupt practices act related expenses | 2 | 4 |
Compliance programs and organizational enhancements | ||
Foreign Corrupt Practices Act Expenses [Line Items] | ||
Foreign corrupt practices act related expenses | $ 2 | $ 3 |
Disposals, Acquisitions and R_2
Disposals, Acquisitions and Related Items (Details) $ in Millions, R$ in Billions | Aug. 18, 2018USD ($) | Jul. 31, 2018USD ($) | Apr. 30, 2019USD ($) | Jan. 31, 2019USD ($) | Aug. 01, 2018BRL (R$) | Aug. 01, 2018USD ($) | Apr. 30, 2018USD ($) |
Business Acquisition [Line Items] | |||||||
Goodwill | $ 31,416 | $ 31,181 | $ 18,850 | ||||
Flipkart [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Noncontrolling Interest, Ownership Percentage by Parent | 81.00% | ||||||
Aggregate ownership, percent | 77.00% | ||||||
Payments to Acquire Businesses, Net of Cash Acquired | $ 16,000 | ||||||
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | 24,100 | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents | 2,200 | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other | 2,800 | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | 5,000 | ||||||
Goodwill | 13,500 | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets | 4,700 | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 300 | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 3,700 | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities | 1,800 | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities | 1,800 | ||||||
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value | $ 4,300 | ||||||
Walmart Brazil [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Ownership sold, percent | 80.00% | 80.00% | |||||
Disposal Group, Including Discontinued Operation, Consideration | $ 250 | ||||||
(Gain) Loss on Disposition of Business | $ 4,800 | ||||||
Loss Contingency Accrual | $ 800 | ||||||
Guarantor Obligations, Maximum Exposure, Undiscounted | R$ | R$ 2.3 | ||||||
Equity method investment, ownership percentage | 20.00% | 20.00% |
Segments and Disaggregated Reve
Segments and Disaggregated Revenue (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Apr. 30, 2019 | Apr. 30, 2018 | |
Revenue from External Customer [Line Items] | ||
Net sales | $ 122,949 | $ 121,630 |
Walmart U.S. | ||
Revenue from External Customer [Line Items] | ||
Net sales | 80,344 | 77,748 |
Walmart International | ||
Revenue from External Customer [Line Items] | ||
Net sales | 28,775 | 30,260 |
Sam's Club | ||
Revenue from External Customer [Line Items] | ||
Net sales | 13,830 | 13,622 |
eCommerceMember | Walmart U.S. | ||
Revenue from External Customer [Line Items] | ||
Net sales | 4,300 | 3,200 |
eCommerceMember | Walmart International | ||
Revenue from External Customer [Line Items] | ||
Net sales | 2,500 | 1,000 |
eCommerceMember | Sam's Club | ||
Revenue from External Customer [Line Items] | ||
Net sales | $ 700 | $ 600 |
Segment Net Sales (Details)
Segment Net Sales (Details) - USD ($) $ in Millions | 3 Months Ended | |
Apr. 30, 2019 | Apr. 30, 2018 | |
Segment Reporting Information [Line Items] | ||
Net sales | $ 122,949 | $ 121,630 |
Walmart U.S. | ||
Segment Reporting Information [Line Items] | ||
Net sales | 80,344 | 77,748 |
Walmart International | ||
Segment Reporting Information [Line Items] | ||
Net sales | 28,775 | 30,260 |
Sam's Club | ||
Segment Reporting Information [Line Items] | ||
Net sales | $ 13,830 | $ 13,622 |
Operating Income by Segment, In
Operating Income by Segment, Interest, Net, and Unrealized (Gains) and Losses (Details) - USD ($) $ in Millions | 3 Months Ended | |
Apr. 30, 2019 | Apr. 30, 2018 | |
Segment Reporting Information [Line Items] | ||
Operating income | $ 4,945 | $ 5,154 |
Interest, net | 625 | 487 |
Other (gains) and losses | (837) | 1,845 |
Income before income taxes | 5,157 | 2,822 |
Walmart U.S. | ||
Segment Reporting Information [Line Items] | ||
Operating income | 4,142 | 3,927 |
Walmart International | ||
Segment Reporting Information [Line Items] | ||
Operating income | 738 | 1,265 |
Sam's Club | ||
Segment Reporting Information [Line Items] | ||
Operating income | 451 | 325 |
Corporate and support | ||
Segment Reporting Information [Line Items] | ||
Operating income | $ (386) | $ (363) |
Segments and Disaggregated Re_2
Segments and Disaggregated Revenue Revenue from Contract with Customer Excluding Assessed Tax, Walmart US (Details) - USD ($) $ in Millions | 3 Months Ended | |
Apr. 30, 2019 | Apr. 30, 2018 | |
Revenue from External Customer [Line Items] | ||
Net sales | $ 122,949 | $ 121,630 |
Walmart U.S. | ||
Revenue from External Customer [Line Items] | ||
Net sales | 80,344 | 77,748 |
Walmart U.S. | Grocery | ||
Revenue from External Customer [Line Items] | ||
Net sales | 45,404 | 43,860 |
Walmart U.S. | General merchandise | ||
Revenue from External Customer [Line Items] | ||
Net sales | 24,607 | 24,174 |
Walmart U.S. | Health and wellness | ||
Revenue from External Customer [Line Items] | ||
Net sales | 9,518 | 9,128 |
Walmart U.S. | Other categories | ||
Revenue from External Customer [Line Items] | ||
Net sales | 815 | 586 |
eCommerceMember | Walmart U.S. | ||
Revenue from External Customer [Line Items] | ||
Net sales | $ 4,300 | $ 3,200 |
Segments and Disaggregated Re_3
Segments and Disaggregated Revenue Revenue from Contract with Customer Excluding Assessed Tax, International (Details) - USD ($) $ in Millions | 3 Months Ended | |
Apr. 30, 2019 | Apr. 30, 2018 | |
Revenue from External Customer [Line Items] | ||
Net sales | $ 122,949 | $ 121,630 |
Walmart International | ||
Revenue from External Customer [Line Items] | ||
Net sales | 28,775 | 30,260 |
Mexico and Central America | Walmart International | ||
Revenue from External Customer [Line Items] | ||
Net sales | 7,837 | 7,684 |
United Kingdom | Walmart International | ||
Revenue from External Customer [Line Items] | ||
Net sales | 7,077 | 7,515 |
Canada | Walmart International | ||
Revenue from External Customer [Line Items] | ||
Net sales | 4,122 | 4,254 |
China | Walmart International | ||
Revenue from External Customer [Line Items] | ||
Net sales | 3,063 | 3,205 |
Other | Walmart International | ||
Revenue from External Customer [Line Items] | ||
Net sales | 6,676 | 7,602 |
eCommerceMember | Walmart International | ||
Revenue from External Customer [Line Items] | ||
Net sales | $ 2,500 | $ 1,000 |
Segments and Disaggregated Re_4
Segments and Disaggregated Revenue Revenue from Contract with Customer Excluding Assessed Tax, Sam's Club (Details) - USD ($) $ in Millions | 3 Months Ended | |
Apr. 30, 2019 | Apr. 30, 2018 | |
Revenue from External Customer [Line Items] | ||
Net sales | $ 122,949 | $ 121,630 |
Sam's Club | ||
Revenue from External Customer [Line Items] | ||
Net sales | 13,830 | 13,622 |
Sam's Club | Grocery and consumables | ||
Revenue from External Customer [Line Items] | ||
Net sales | 8,373 | 8,012 |
Sam's Club | Fuel, tobacco and other categories | ||
Revenue from External Customer [Line Items] | ||
Net sales | 2,777 | 2,919 |
Sam's Club | Home and apparel | ||
Revenue from External Customer [Line Items] | ||
Net sales | 1,178 | 1,202 |
Sam's Club | Health and wellness | ||
Revenue from External Customer [Line Items] | ||
Net sales | 827 | 801 |
Sam's Club | Technology, office and entertainment | ||
Revenue from External Customer [Line Items] | ||
Net sales | 675 | 688 |
eCommerceMember | Sam's Club | ||
Revenue from External Customer [Line Items] | ||
Net sales | $ 700 | $ 600 |
Lease Cost (Details)
Lease Cost (Details) $ in Millions | 3 Months Ended |
Apr. 30, 2019USD ($) | |
Leases [Abstract] | |
Operating lease cost | $ 636 |
Finance lease amortization of lease assets | 111 |
Finance lease interest on lease obligations | 77 |
Variable lease cost | $ 167 |
Leases Schedule of Other Inform
Leases Schedule of Other Information Relating to Lease Liabilities (Details) $ in Millions | 3 Months Ended |
Apr. 30, 2019USD ($) | |
Leases [Abstract] | |
Operating cash flows from operating leases | $ 639 |
Operating cash flows from finance leases | 49 |
Financing cash flows from finance leases | 134 |
Assets obtained in exchange for operating lease obligations | 189 |
Assets obtained in exchange for finance lease obligations | $ 95 |
Weighted-average remaining lease term - operating leases | 15 years 9 months 18 days |
Weighted-average remaining lease term - finance leases | 14 years 4 months 24 days |
Weighted-average discount rate - operating leases | 5.30% |
Weighted-average discount rate - finance leases | 9.50% |
Leases Schedule of Lease Liabil
Leases Schedule of Lease Liability Maturity (Details) $ in Millions | Apr. 30, 2019USD ($) |
Operating Lease Liabilities, Payments Due [Abstract] | |
Remainder of 2020 | $ 1,819 |
2021 | 2,346 |
2022 | 2,105 |
2023 | 1,903 |
2024 | 1,718 |
Thereafter | 15,699 |
Total undiscounted lease obligations | 25,590 |
Less imputed interest | (8,123) |
Net lease obligations | 17,467 |
Finance Lease Liabilities, Payments, Due [Abstract] | |
Remainder of 2020 | 533 |
2021 | 676 |
2022 | 621 |
2023 | 506 |
2024 | 447 |
Thereafter | 5,367 |
Total undiscounted lease obligations | 8,150 |
Less imputed interest | (3,905) |
Net lease obligations | $ 4,245 |
Leases Aggregate Minimum Annual
Leases Aggregate Minimum Annual Rentals Under Non-Cancelable Leases (Details) $ in Millions | Jan. 31, 2019USD ($) |
Leases, Operating [Abstract] | |
2020 | $ 1,856 |
2021 | 1,655 |
2022 | 1,420 |
2023 | 1,233 |
2024 | 1,063 |
Thereafter | 6,891 |
Total minimum rentals | 14,118 |
Capital Lease Obligations [Abstract] | |
2020 | 917 |
2021 | 856 |
2022 | 794 |
2023 | 667 |
2024 | 593 |
Thereafter | 6,069 |
Total minimum rentals | 9,896 |
Less estimated executory costs | 23 |
Net minimum lease payments | 9,873 |
Financing obligation noncash gains and other | 2,278 |
Less imputed interest | (4,739) |
Present value of minimum lease payments | $ 7,412 |