(a) Based on the information contained in these financial statements, compute free cash flow for each company. WILL THUMBS UP IF CORRECT!

Amazon.com, Inc.s financial statements are presented below.

The financial statements of Walmart, Inc. are presented below

The complete annual reports of Amazon and Walmart, including the notes to the financial statements, are available at each companys respective website. (a) Based on the information contained in these financial statements, compute free cash flow for each company. (Enter answers in millions. Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

	Amazon		Walmart
Free cash flow		$enter free cash flow amount for amazon in dollars		$enter free cash flow amount for walmart in dollars

Amazon.com, Inc.'s financial statements are presented in Appendix D. Click here to view Appendix D. Financial statements of Walmart, Inc. are presented in Appendix E. Click here to view Appendix E. The complete annual reports of Amazon and Walmart, including the notes to the financial statements, are available at each company's respective website. (a) Based on the information contained in these financial statements, compute free cash flow for each company. (Enter answers in millions. Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Amazon Walmart Free cash flow $ $ (246) (3.436) Amazon.com, Inc. Consolidated Statements of Cash Flows (in millions) Year Ended December 31, 2016 2017 2018 CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, BEGINNING OF PERIOD OPERATING ACTIVITIES: $16,175 $19.934 $21,856 Net income 2,371 3,033 10,073 Adjustments to reconcile net income to net cash from operating activities: Depreciation of property and equipment and other amortization, including capitalized content costs 8,116 11,478 15,341 Stock-based compensation 2,975 4,215 5,418 Other operating expense, net 160 202 274 Other expense (income), net (20) ) (292) 219 Deferred income taxes (29) 441 Changes in operating assets and liabilities: Inventories (1,426) (3.583) Accounts receivable, net and other (1,314) (4,780) (4,615) Accounts payable 5,030 7,100 3,263 Accrued expenses and other 1,724 283 472 Unearned revenue 1,955 738 1,151 Net cash provided by (used in) operating activities 17,203 18,365 30,723 INVESTING ACTIVITIES: Purchases of property and equipment (7,804) (11,955) (13,427) Proceeds from property and equipment incentives 1,067 1,897 2,104 Acquisitions, net of cash acquired, and other (116) (13.972) (2,186) Sales and maturities of marketable securities 4,577 9,677 8,240 Purchases of marketable securities (7,240) (12,731) (7.100) Net cash provided by (used in) investing activities (9.516) (27,084) (12,369) FINANCING ACTIVITIES: Proceeds from long-term debt and other 618 16,228 768 Repayments of long-term debt and other (327) (1,301) (668) Principal repayments of capital lease obligations (3,860) (4.799) (7,449) Principal repayments of finance lease obligations (147) (200) (337) Net cash provided by (used in) financing activities (3,716) 9,928 (7,686) Foreign currency effect on cash, cash equivalents, and restricted cash (212) _713 (351) Net increase (decrease) in cash, cash equivalents, and restricted cash 3.759 1,922 10,317 CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, END OF PERIOD , $19.934 $21,856 $82,173 SUPPLEMENTAL CASH FLOW INFORMATION: Cash paid for interest on long-term debt $ 290 $ 328 $ 854 Cash paid for interest on capital and finance lease obligations 206 319 575 Cash paid for income taxes, net of refunds 412 957 1,184 Property and equipment acquired under capital leases 5.704 9,637 10,615 Property and equipment acquired under build-to-suit leases 1,209 3,541 3,641 See accompanying notes to consolidated financial statements. Amazon.com, Inc. Consolidated Statements of Operations (in millions, except per share data) Year Ended December 31, 2017 2018 Net product sales $118,573 $141,915 Net service sales 59,293 90,972 Total net sales 177,866 232,887 Operating expenses: Cost of sales 111,934 139.156 Fulfillment 25,249 34,027 Marketing 10,069 13,814 Technology and content 22,620 28,837 General and administrative 3,674 4.336 Other operating expense, net 214 296 Total operating expenses 173.760 220,466 Operating income 12,42 .. Interest income 202 440 Interest expense (848) (1,417) Other income (expense), net 346 (183) Total non-operating income (expense) (300) (1,160) Income before income taxes 3,806 11,261 Provision for income taxes Frovisi (769) (1,197) Equity-method investment activity, net of tax (4) Net income $ 3,033 $ 10,073 Basic earnings per share $ 6.32 $ 20.68 Diluted earnings per share $ 20.14 Weighted average shares used in computation of earnings per share: Basic 480 487 Diluted 493 500 See accompanying notes to consolidated financial statements. Amazon.com, Inc. Consolidated Statements of Comprehensive Income (in millions) Year Ended December 31, 2016 2017 2018 Net income $2,371 $3,033 $10,073 Other comprehensive income (loss): Foreign currency translation adjustments, net of tax of $(49), $5, and $6 (279) 533 (538) Net change in unrealized gains (losses) on available-for-sale debt securities: Unrealized gains (losses), net of tax of $(12), $5, and $o (39) (17) Reclassification adjustment for losses (gains) included in "Other income (expense), net," net of tax of $o, $o, and $0 Z 8 Net unrealized gains (losses) on available-for-sale debt securities (32) (9) Total other comprehensive income (loss) (262) 501 ( (547) Comprehensive income $2,109 $3.534 $9.526 See accompanying notes to consolidated financial statements. 4,106 11:43 191999999999999999 99 $6.15 likello Tulata very, 44 6.851 IB BREAKFI Walmart Inc. Consolidated Statements of Income Fiscal Years Ended January 31, (Amounts in millions, except per share data) 2019 2018 2017 Revenues: Net sales $510,329 $495,761 $481,317 Membership and other income 4,076 4,582 4,556 Total revenues 514,405 500,343 485,873 Costs and expenses: Cost of sales 385,301 373,396 361,256 Operating, selling, general and administrative expenses 107,147 106,510 101,853 Operating income 21,957 20,437 22,764 Interest: Debt 1,975 1,978 2,044 Capital lease and financing obligations 371 352 323 Interest income (217) (152) (100) Interest, net 2,129 2,178 2,267 Loss on extinguishment of debt 3,136 Other (gains) and losses 8,368 Income before income taxes 11,460 15,123 20,497 Provision for income taxes 4,281 4,600 6,204 Consolidated net income 7,179 10,523 14,293 Consolidated net income attributable to noncontrolling interest (509) (661) (650) Consolidated net income attributable to Walmart $ 6,670 $ 9,862 $ 13,643 Net income per common share: Basic net income per common share attributable to Walmart Diluted net income per common share attributable to Walmart $ 2.28 $ $ 3.29 3.28 4.40 4:38 2.26 Weighted average common shares outstanding: Basic Diluted 2,929 2,995 3,010 3,101 3,112 2,945 $ 2.08 $ 2.04 $ 2.00 Dividends declared per common share See accompanying notes. Walmart Inc. Consolidated Statements of Comprehensive Income Fiscal Years Ended January 31, (Amounts in millions) 2019 2018 2017 Consolidated net income $7,179 $10,523 $14,293 Consolidated net income attributable to noncontrolling interest (509) (661) (650) Consolidated net income attributable to Walmart 6,670 9,862 13,643 (226) 272 (290) (3,027) 413 Other comprehensive income (loss), net of income taxes Currency translation and other Net investment hedges Cash flow hedges Minimum pension liability Unrealized gain on available-for-sale securities Other comprehensive income (loss), net of income taxes Other comprehensive income) loss attributable to noncontrolling interest Other comprehensive income (loss) attributable to Walmart 2,540 (405) 437 147 21 131 1,501 (113) 188 4,220 (169) (397) 145 (2,845) 210 (2,635) 75 4,051 Comprehensive income, net of income taxes Comprehensive (income) loss attributable to noncontrolling interest Comprehensive income attributable to Walmart See accompanying notes. 7,066 (321) $6,745 14,743 (830) $13,913 11,448 (440) $11,008 Sharon Stone Capilul ia l'atens of Pur Valur Related Earnings Accumulated enher entreganahon nasamo (tous) Total Walmart se nekako 'Bigaby Nencontrada aturan Mana) Bilikiillotti Walmart Inc. Consolidated Statements of Cash Flows Fiscal Years Ended January 31, 2019 2018 2017 $ 7,179 $10,523 $14,293 10,529 10,080 10,678 3.516 4,850 (499) 761 (Amounts in millions) Cash flows from operating activities: Consolidated net income Adjustments to reconcile consolidated net income to net cash provided by operating activities: Depreciation and amortization Unrealized (gains) and losses (Gains) and losses for disposal of business operations Deferred income taxes Loss on extinguishment of debt Other operating activities Changes in certain assets and liabilities, net of effects of acquisitions: Receivables, net Inventories Accounts payable Accrued liabilities Accrued income taxes Net cash provided by operating activities (304) 3,136 1,210 1,734 206 (368) (1,311) 1,831 183 (40) 27,753 (1,074) (140) 4,086 928 (557) 28,337 (402) 1,021 3,942 1,280 492 31,673 (10,344) 519 876 (10,051) 378 1,046 Cash flows from investing activities: Payments for property and equipment Proceeds from the disposal of property and equipment Proceeds from the disposal of certain operations Purchase of available for sale securities Payments for business acquisitions, net of cash acquired Other investing activities Net cash used in investing activities (10,619) 456 662 (1,901) (2,463) (31) (13,896) (14,656) (431) (24,036) (375) (77) (9,079) (53) 15,872 (3,784) (1,673) 137 (2,055) Cash flows from financing activities: Net change in short-term borrowings Proceeds from issuance of long-term debt Repayments of long-term debt Premiums paid to extinguish debt Dividends paid Purchase of Company stock Dividends paid to noncontrolling interest Purchase of noncontrolling interest Other financing activities Net cash used in financing activities (6,102) (7,410) (431) 4,148 7,476 (13,061) (3,059) (6,124) (8,296) (690) (8) (261) (19,875) (6,216) (8,298) (479) (90) (398) (19,072) (629) (2,537) Effect of exchange rates on cash, cash equivalents and restricted cash (438) 487 (452) Net increase (decrease) in cash, cash equivalents and restricted cash Cash, cash equivalents and restricted cash at beginning of year Cash, cash equivalents and restricted cash at end of period 742 7,014 $ 7.756 (130) 7,144 $ 7,104 (1,747) 8,891 $ 7,144 Supplemental disclosure of cash flow information: Income taxes paid Interest paid See accompanying notes. 3,982 2,348 6,179 2,450 4,507 2,351