Based on the information contained in this financial statement, compute free cash flow for Wal-Mart for January 31, 2017. (Show a negative free cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000). Enter amounts in millions.)
Wal-Mart Stores, Inc. Consolidated Statement of Income Fiscal Years Ended January 31, 2017 2016 2015 $481,317 4,556 485,873 $478,614 3,516 482,130 $482,229 3,422 485,651 361,256 101,853 22,764 360,984 97,041 24,105 365,086 93,418 27,147 (Amounts in milions, except per share data) Revenues: Net sales Membership and other income Total revenues Costs and expenses: Cost of sales Operating, selling, general and administrative expenses Operating income Interest: Debt Capital lease and financing obligations Interest income Interest, net Income from continuing operations before income taxes Provision for income taxes Income from continuing operations Income from discontinued operations, net of income taxes Consolidated net income Consolidated net income attributable to noncontrolling interest Consolidated net income attributable to Walmart Basic net income per common share: Basic income per common share from continuing operations attributable to Walmart Basic income per common share from discontinued operations attributable to Walmart Basic net income per common share attributable to Walmart Diluted net income per common share: Diluted income per common share from continuing operations attributable to Walmart 2,044 323 (100) 2,267 20,497 6,204 14,293 2,027 521 (81) 2,467 21,638 6,558 15,080 2,161 300 (113) 2,348 24,799 7,985 16,814 285 14,293 (650) $ 13,643 15,080 (386) $ 14,694 17,099 (736) $ 16,363 $ 4.40 $ 4.58 $ 5.01 0.06 $ 4.40 $ 4.58 $ 5.07 $ 4.38 $ $ 4.57 $ 4.99 0.06 $ 4.38 $ 457 $ 5.05 Diluted income per common share from discontinued operations attributable to Walmart Diluted net income per common share attributable to Walmart Weighted-average common shares outstanding: Basic Diluted Dividends declared per common share 3,101 3,112 $ 2.00 3,207 3,217 1.96 3,230 3,243 1.92 $ $ See accompanying notes. Wal-Mart Stores, Inc. Consolidated Statement of Comprehensive Income Fiscal Years Ended January 31, (Amounts in milions) 2017 2016 2015 Consolidated net income $14,293 $15,080 $17,099 Less consolidated net income attributable to nonredeemable noncontrolling interest (650) (386) (736) Consolidated net income attributable to Walmart 13,643 14,694 16,363 Other comprehensive income (loss), net of income taxes Currency translation and other (2,882) (5,220) (4,558) Net investment hedges 413 366 379 Cash flow hedges 21 (202) (470) Minimum pension liability (397) 86 (69) Other comprehensive income (loss), net of income taxes (2,845) (4,970) (4,718) Less other comprehensive income (loss) attributable to nonredeemable noncontrolling interest 210 541 546 Other comprehensive income (loss) attributable to Walmart (2,635) (4,429) (4,172) Comprehensive income, net of income taxes 11,448 10,110 12,381 Less comprehensive income (loss) attributable to nonredeemable noncontrolling interest (440) 155 (190) Comprehensive income attributable to Walmart $11,008 $10,265 $12,191 Consolidated Balance Sheets As of January 31, 2017 2016 $ 6,867 5,835 43,046 1,941 $ 8,705 5,624 44,469 1,441 60,239 57,689 (Amounts in milions) ASSETS Current assets: Cash and cash equivalents Receivables, net Inventories Prepaid expenses and other Total current assets Property and equipment: Property and equipment Less accumulated depreciation Property and equipment, net Property under capital lease and financing obligations: Property under capital lease and financing obligations Less accumulated amortization Property under capital lease and financing obligations, net Goodwill Other assets and deferred charges Total assets 179,492 (71,782) 107,710 176,958 (66,787) 110,171 11,637 (5,169) 6,468 17,037 9,921 $198,825 11,096 (4,751) 6,345 16,695 6,131 $199,581 LIABILITIES AND EQUITY Current liabilities: Short-term borrowings Accounts payable Accrued liabilities Accrued income taxes Long-term debt due within one year Capital lease and financing obligations due within one year $ 1,099 41,433 20,654 921 2,256 565 $ 2,708 38,487 19,607 521 2,745 551 Total current liabilities 66,928 64,619 Long term debt Long-term capital lease and financing obligations Deferred income taxes and other 36,015 6,003 9,344 38,214 5,816 7,321 Commitments and contingencies 317 1,805 90,021 (11,597) Equity: Common stock Capital in excess of par value Retained earnings Accumulated other comprehensive loss Total Walmart shareholders' equity Nonredeemable noncontrolling interest Total equity Total liabilities and equity See accompanying notes 305 2,371 89,354 (14,232) 77,798 2,737 80,535 $198,825 80,546 3,065 83,611 $199,581 Wal-Mart Stores, Inc. Consolidated Statements of Shareholders' Equity and Redeemaole Noncontrolling Interest Total Retained Earnings $76,566 16,363 Accumulated Other Walmart Nonredeemable Comprehensive Shareholders' Noncontrolling Loss Equity Interest $ 12,996) $76,255 $5,084 16,363 736 Total Equity $81,339 17,099 Redeemable Noncontrolling Interest $ 1,491 - - (4,172) (4,172) (546) (4,718) (6,185) (950) (6,185) (980) (6,185) (980) (1,491) 113 (7,168) Capital in Common Stock Excess of Amounts in millions) Shares Amount Par Value Balances as of February 1, 2014 3,233 $323 $2,362 Consolidated net income Other comprehensive loss, net of income taxes Cash dividends declared ($1.92 per share) Purchase of Company stock (13) (29) Purchase of redeemable noncontrolling interest Other 8 1 129 Balances as of January 31, 2015 3,228 323 2,462 Consolidated net income Other comprehensive loss, net of income taxes Cash dividends declared ($1.96 per share) Purchase of Company stock (65) (6) (102) Cash dividend declared to noncontrolling interest Other (1) (555) Balances as of January 31, 2016 3,162 317 1,805 Consolidated net income Other comprehensive loss, net of income taxes Cash dividends declared ($2.00 per share) 85,777 14,694 81,394 14,694 (731) 4,543 386 (618) 85,937 15,080 - - (4,429) (4,429) (541) (4,970) (6,294) (4.148) (6,294) (4,256) (6,294) (4,256) (691) (1,195) (8) 90,021 13,643 (691) (632) 3,065 650 (563) 80,546 13,643 (11,597) 83,611 14,293 1 - (2,635) (2,635) (210) (2,845) (6,216) (6,216) (6,216) (6,216) (8,090) (6,216) (8,276) (6,216) (8,276) (12) (174) ($2.00 per share) Purchase of Company stock (120) Cash dividend declared to noncontrolling interest Other Balances as of January 31, 2017 3,048 6 740 $305 $2,371 (4) $89,354 $(14,232) 736 $77,798 (519) (249) $2,737 (519) 487 $80,535 $ See accompanying notes. Wal-Mart Stores, Inc. Consolidated Statements of Cash Flow Fiscal Years Ended January 31, 2017 2016 2015 $14,293 $ 15,080 $ 17,099 (285) 14,293 15,080 16,814 (Amounts in milions) Cash flows from operating activities: Consolidated net income Income from discontinued operations, net of income taxes Income from continuing operations Adjustments to reconcile income from continuing operations to net cash provided by operating activities: Depreciation and amortization Deferred income taxes Other operating activities Changes in certain assets and liabilities, net of effects of acquisitions: Receivables, net Inventories Accounts payable Accrued liabilities 10,080 761 206 9,454 (672) 1,410 9,173 (503) 785 (402) 1,021 3,942 1,137 (19) (703) 2,008 1,303 (569) (1,229) 2,678 1,249 2,000 Accrued liabilities Accrued income taxes Net cash provided by operating activities 1,137 492 1,303 (472) 2:07 1,249 166 31,530 27,389 28,564 (11,477) 635 246 (12.174) 570 671 (10,619) 456 662 (1,901) (2,463) (122) (13,987) (79) (10,675) (192) (11,125) 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 Investment and business acquisitions, net of cash acquired Other investing activities Net cash used in investing activities Cash flows from financing activities: Net change in short-term borrowings Proceeds from issuance of long-term debt Payments of long-term 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 (1,673) 137 (2,055) (6,216) (8,298) (479) (90) (255) (18,929) 1,235 39 (4,432) (6,294) (4,112) (719) (1,326) (513) (16,122) (6,288) 5,174 (3,904) (6,185) (1,015) (600) (1,844) (409) (15,071) (1,022) Effect of exchange rates on cash and cash equivalents Net increase (decrease) in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year (452) (1,838) 8,705 $ 6,867 (430) 9,135 $ 8,705 (514) 1,854 7,281 $ 9,135 Supplemental disclosure of cash flow information: Income taxes paid Interest paid 4,507 2,351 8,111 2,540 8,169 2,433
