Calculate the following ratios for Walmart and Amazon for two years. Present your calculations in a table. Solvency ratios: 1. Debt-to-Equity Ratio Stock market ratios: 1. Earnings per Share 2. Price/Earnings (P/E) Ratio Profitability ratios: 1. Net Margin (Profit Margin) Ratio 2. Gross Profit Ratio Asset Turnover Ratio 3. Return on Equity Solvency ratios: 1. Debt-to-Equity Ratio Liquidity ratios: 1. Working Capital 2. Current Ratio 3. Inventory Turnover Ratio Profitability ratios: 1. Net Margin (Profit Margin) Ratio 2. Gross Profit Ratio 3. Asset Turnover Ratio 4. Return on Equity AMAZON.COM, INC. CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (in millions) Il- 501 Common Stock Accumulated Additional Other Total Treasury Paid In Comprehensive Retained Stockholders' Shares Amount Stock Capital Income (Loss) Earnings Equity Balance as of January 1, 2017 477 $ 5 $ (1,837) $ 17,186 S (985) $ 4,916 $ 19,285 Cumulative effect of a change in accounting principle related to stock-based compensation 687 687 Net income 3,033 3,033 Other comprehensive income (loss) 501 Exercise of common stock options 7 Stock-based compensation and issuance of employee benefit plan stock 4,202 4,202 Balance as of December 31, 2017 484 (1,837) 21,389 (484) 8,636 27,709 Cumulative effect of change in accounting principles related to revenue recognition, income taxes, and financial instruments 916 912 Net income 10,073 10,073 Other comprehensive income (loss) (547) (547) Exercise of common stock options Stock-based compensation and issuance of employee benefit plan stock 5,402 5,402 Balance as of December 31, 2018 491 (1.837) 26,791 (1,035) 19,625 43,549 Cumulative effect of change in accounting principle related to leases 7 Net income 11,588 11,588 Other comprehensive income (loss) 49 49 Exercise of common stock options Stock-based compensation and issuance of employee benefit plan stock 6,867 Balance as of December 31, 2019 498 $ 5 $ (1,837) S 33,658 S (986) $ 31,220 S 62,060 See accompanying notes to consolidated financial statements. Il Il 7 LT 6,867 AMAZON.COM, INC. CONSOLIDATED BALANCE SHEETS (in millions, except per share data) December 31. 2018 2019 s 31,750 $ 9.500 17.174 16,677 75,101 61,797 36,092 18,929 20,497 20.816 96,334 72,705 25,141 14,754 16,314 225.248 14,548 11,202 162.648 S s ASSETS Current assets: Cash and cash equivalents Marketable securities Inventories Accounts receivable, net and other Total current assets Property and equipment, net Operating leases Goodwill Other assets Total assets LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable s Accrued expenses and other Unearned revenue Total current liabilities Long-term lease liabilities Long-term debt Other long-term liabilities Commitments and contingencies (Note 7) Stockholders' equity: Preferred stock, 50.01 par value: Authorized shares - 500 Issued and outstanding shares -- none Common stock, S0.01 par value: Authorized shares - 5,000 Issued shares - 514 and 521 Outstanding shares - 491 and 498 Treasury stock, at cost Additional paid-in capital Accumulated other comprehensive income (loss) Retained earnings Total stockholders' equity Total liabilities and stockholders' equity See accompanying notes to consolidated financial statements. 38,192 $ 23,663 6,536 68.391 9.650 23,495 17,563 47,183 32,439 8,190 87,812 39.791 23.414 12,171 5 (1.837) 26,791 (1,035) 19,625 43,549 162.648 5 (1.837) 33.658 (986) 31.220 62,060 225.248 S AMAZON.COM, INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (in millions) 2019 11,588 78 (108) (30) Year Ended December 31, 2017 2018 Net income 3,033 $ 10,073 $ Other comprehensive income (loss): Net change in foreign currency translation adjustments: Foreign currency translation adjustments, net of tax of $5, S6, and $(5) 533 (538) Reclassification adjustment for foreign currency translation included in "Other operating expense (income), net," net of tax of so, $0, and $29 Net foreign currency translation adjustments 533 (538) Net change in unrealized gains (losses) on available-for-sale debt securities: Unrealized gains (losses), net of tax of S5, SO, and S(12) (39) (17) Reclassification adjustment for losses (gains) included in "Other income (expense), net," net of tax of So, so, and $0 7 Net unrealized gains (losses) on available-for-sale debt securities (32) Total other comprehensive income (loss) 501 (547) Comprehensive income 3,534 9,526 $ See accompanying notes to consolidated financial statements. 83 8 ILL! ILL 79 49 11,637 AMAZON.COM, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (in millions, except per share data) Year Ended December 31, 2017 2018 118,573 S 141,915 S 59,293 90,972 177,866 232,887 2019 160,408 120,114 280,522 Net product sales Net service sales Total net sales Operating expenses: Cost of sales Fulfillment Technology and content Marketing General and administrative Other operating expense (income), net Total operating expenses Operating income Interest income Interest expense Other income (expense), net Total non-operating income (expense) Income before income taxes Provision for income taxes Equity-method investment activity, net of tax Net income Basic earnings per share Diluted earnings per share Weighted-average shares used in computation of earnings per share: Basic Diluted 111,934 25,249 22,620 10.069 3,674 214 173,760 4,106 202 (848) 346 (300) 3,806 (769) 139, 156 34,027 28,837 13,814 4,336 296 220,466 12,421 440 (1,417) (183) (1,160) 11,261 (1,197) 9 165,536 40,232 35,931 18,878 5,203 201 265,981 14,541 832 (1,600) 203 (565) 13,976 (2,374) (14) 11,588 23.46 23.01 S $ 3,033 S 6.32 $ 6.15 10,073 S 20.68 $ 20.14 S $ 480 493 487 500 494 504 See accompanying notes to consolidated financial statements. AMAZON.COM, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (in millions) 2019 32.173 11.588 21.789 6.864 164 796 (3.278) (7.681) &.193 1.151 1.711 38 514 Year Ended December 31, CASH. CASH EQUIVALENTS, AND RESTRICTED CASH, BEGINNING OF PERIOD 19934 21.856 OPERATING ACTIVITIES: Net income 10,073 Adjustments to reconcile net income to net cash from operating activities: Depreciation and amortization of property and equipment and capitalized content costs, operating lease assets, and other 11.478 15.341 Stock-based compensation 415 5,418 Other operating expense (income), met 274 Other expense (income), net 219 Deferred income taxes 441 Changes in operating assets and liabilities: Inventories (3.583) (1,314 Accounts receivable, net and other (4.780) (4.615) Accounts payable 7.100 3.263 Accrued expenses and other 472 Uneamed revenue 738 Net cash provided by used in) operating activities 18.365 30,723 INVESTING ACTIVITIES: Purchases of property and equipment (11.955) Proceeds from property and equipment sales and incentives 1.897 2.104 Acquisitions, net of cash acquired, and other (13.972) (2.186) Sales and maturities of marketable securities 9.677 Purchases of marketable securities (12.731) (7.100) Net cash provided by (used in) investing activities (27,084) (12,369) FINANCING ACTIVITIES: Proceeds from long-term debt and other 768 Repayments of long-term debt and other (1_301) (668) Principal repayments of finance leases (4.799) (7.449) Principal repayments of financing obligations (200) (337) Net cash provided by used in financing activities 9.928 Foreign currency effect on cash, cash equivalents, and restricted cash 713 (351) Net increase (decrease) in cash, cash equivalents, and restricted cash 1.922 10,317 CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, END OF PERIOD 21 356 5 32.173 S SUPPLEMENTAL CASH FLOW INFORMATION: Cash paid for interest on long-term debe 854 Cash paid for operating leases Cash paid for interest on finance leases 200 381 Cash paid for interest on financing obligations 119 194 Cash paid for income taxes, net of refunds 1,184 Assets acquired under operating leases Property and equipment acquired under finance leases 9,637 10,615 Property and equipment acquired under build-to-suit arrangements 3.541 See accompanying notes to consolidated financial statements. (16.861) 4,172 (2.461) 22.681 (31.812 (24.281) 2.273 (2684) (9.628) (27) (10.066) 70 4.237 36410 875 3.361 647 39 881 7.870 13,723 1.362 Walmart Inc. Consolidated Statements of Cash Flows Fiscal Years Ended January 31. 2018 2020 15.2015 7.1795 10.323 10 529 (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 Asda pension contribution 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 10.987 (1.6) 15 (1,036) 320 10.578 3.516 4850 (304) 3.136 1.210 1.981 1.734 (1.074) 154 (300) (274) 186 (93) 25.255 (365) (1311) 13 183 (40) 27.753 406 92% (557) 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 Payments for business acquisitions, net of cash acquired Other investing activities Net cash used in investing activities (10.705) 321 833 (56) (10.344) 519 876 (14.656) (10,051) 378 1.046 (375) (24.036) 19.079) (4.656) 5.492 (1,907) 15872 (3.784) 7.476 (13.061) 3.059) (6,124) (6,048) (5.717) (555) (6,102) (7.410) (8) Cash flows from financing activities: Net change in short-term borrowings Proceeds from issuance of long-term debe Repayments of long-term debt Premiums paid to extinguish debe Dividends paid Purchase of Company stock Dividends paid to noncontrolling interest Purchase of noncontrolling interest Other financing activities Net cash used in financing activities Effect of exchange rates on cash, cash equivalents and restricted cash 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 year Supplemental disclosure of cash flow information: Income taxes paid Interest paid (905) (14.299) 2.537) (19.875) (69) (435) 1.759 7014 74756 (130) 7.144 77014 9.515 S 5 3.982 6.179 3,616 2.464 2.450 See accompanying notes Walmart Inc. Consolidated Statements of Shareholders' Equity Common Stock Shares Amount 3,048 $ 305 Accumulated Total Capital in Other Excess of Retained Comprehensive Shareholders' Noncontrolling Total Par Value Earnings Income (Less) Equity Interest Equity 2,371 $ 89,354 S (14.232) S 77,798 $ 2,737 S 80.535 9,862 9,862 661 10.523 4,051 4,051 169 4.220 (Amounts in millions) Balances as of February 1, 2017 Consolidated net income Other comprehensive income (loss), net of income taxes Cash dividends declared ($2.04 per share) Purchase of Company stock Cash dividend declared to noncontrolling interest Other Balances as of January 31, (6,124) (6.124) (6,124) (7.975) (103) (10) (219) (8,204) (8.204) (687) (687) 496 (10) 486 73 559 2.952 295 2018 2,648 85.107 (10,181) 77,869 2,953 80,822 2,361 (1.436) 925 924 6,670 6,670 S09 7.179 75 75 (188) (6.102) (6,102) (6,102) (80) (245) (7.234) (7.487) (7.487) (488) (488) 4,345 4,345 562 (17) 546 554 Adoption of new accounting standards on February 1, 2018, net of income taxes Consolidated net income Other comprehensive income (loss), net of income taxes Cash dividends declared (52.08 per share) Purchase of Company stock Cash dividend declared to noncontrolling interest Noncontrolling interest of acquired entity Other Balances as of January 31. 2019 Adoption of new accounting standards on February 1. 2019, net of income taxes Consolidated net income Other comprehensive income (loss), net of income taxes Cash dividends declared (52.12 per share) Purchase of Company stock Cash dividends declared to moncontrolling interest Other Balances as of January 31, 2020 2,878 288 2,965 80,785 (11,542) 72,496 7.135 79,634 (300) 14,881 14,881 320 15.201 28 (1.235) (6,048) - (6,045) (5,639) (6,048) (5,639) (53) (5) (199) (5,435) (475) (475) (94) 481 26 SOS 414 2.832S 284 5 3.247 $ 83,943S (12.805) S 74,669 6,883 $ 81,552 $ See accompanying notes Walmart Inc. Consolidated Balance Sheets As of January 31, 2019 (Amounts in millions) ASSETS Current assets: Cash and cash equivalents Receivables, net Inventories Prepaid expenses and other Total current assets 9.465 $ 6,284 44,435 1.622 61,806 7,722 6.283 44.269 61,897 104,317 105 206 17.424 4.417 Property and equipment, net Operating lease right-of-use assets Finance lease right-of-use assets, net Property under capital lease and financing obligations, net Goodwill Other long-term assets Total assets 31.073 16,567 236,495 $ 7,07% 31,181 14,822 219,295 LIABILITIES AND EQUITY Current liabilities: Short-term borrowings Accounts payable Accrued liabilities Accrued income taxes Long-term debt due within one year Operating Icase obligations due within one year Finance lease obligations due within one year Capital case and financing obligations due within one year Total current liabilities 575 46.973 22.296 280 5.362 1.793 SIL 5.225 47,060 22.159 428 1,876 729 77.477 77.790 41.520 Long-term debt Long-term operating lease obligations Long-term finance lease obligations Long-term capital lease and financing obligations Deferred income taxes and other 43,714 16,171 4.307 6,683 11.981 12.961 Commitments and contingencies Equity: Common stock Capital in excess of par value Retained earnings Accumulated other comprehensive loss Total Walmart shareholders' equity Noncontrolling interest Total equity Total liabilities and equity 284 3.247 83.943 (12.805) 74,669 6,883 81.552 236,495 288 2.965 80,75 (11.542) 72.496 7.138 219.295 See accompanying notes Calculate the following ratios for Walmart and Amazon for two years. Present your calculations in a table. Solvency ratios: 1. Debt-to-Equity Ratio Stock market ratios: 1. Earnings per Share 2. Price/Earnings (P/E) Ratio Profitability ratios: 1. Net Margin (Profit Margin) Ratio 2. Gross Profit Ratio Asset Turnover Ratio 3. Return on Equity Solvency ratios: 1. Debt-to-Equity Ratio Liquidity ratios: 1. Working Capital 2. Current Ratio 3. Inventory Turnover Ratio Profitability ratios: 1. Net Margin (Profit Margin) Ratio 2. Gross Profit Ratio 3. Asset Turnover Ratio 4. Return on Equity AMAZON.COM, INC. CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (in millions) Il- 501 Common Stock Accumulated Additional Other Total Treasury Paid In Comprehensive Retained Stockholders' Shares Amount Stock Capital Income (Loss) Earnings Equity Balance as of January 1, 2017 477 $ 5 $ (1,837) $ 17,186 S (985) $ 4,916 $ 19,285 Cumulative effect of a change in accounting principle related to stock-based compensation 687 687 Net income 3,033 3,033 Other comprehensive income (loss) 501 Exercise of common stock options 7 Stock-based compensation and issuance of employee benefit plan stock 4,202 4,202 Balance as of December 31, 2017 484 (1,837) 21,389 (484) 8,636 27,709 Cumulative effect of change in accounting principles related to revenue recognition, income taxes, and financial instruments 916 912 Net income 10,073 10,073 Other comprehensive income (loss) (547) (547) Exercise of common stock options Stock-based compensation and issuance of employee benefit plan stock 5,402 5,402 Balance as of December 31, 2018 491 (1.837) 26,791 (1,035) 19,625 43,549 Cumulative effect of change in accounting principle related to leases 7 Net income 11,588 11,588 Other comprehensive income (loss) 49 49 Exercise of common stock options Stock-based compensation and issuance of employee benefit plan stock 6,867 Balance as of December 31, 2019 498 $ 5 $ (1,837) S 33,658 S (986) $ 31,220 S 62,060 See accompanying notes to consolidated financial statements. Il Il 7 LT 6,867 AMAZON.COM, INC. CONSOLIDATED BALANCE SHEETS (in millions, except per share data) December 31. 2018 2019 s 31,750 $ 9.500 17.174 16,677 75,101 61,797 36,092 18,929 20,497 20.816 96,334 72,705 25,141 14,754 16,314 225.248 14,548 11,202 162.648 S s ASSETS Current assets: Cash and cash equivalents Marketable securities Inventories Accounts receivable, net and other Total current assets Property and equipment, net Operating leases Goodwill Other assets Total assets LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable s Accrued expenses and other Unearned revenue Total current liabilities Long-term lease liabilities Long-term debt Other long-term liabilities Commitments and contingencies (Note 7) Stockholders' equity: Preferred stock, 50.01 par value: Authorized shares - 500 Issued and outstanding shares -- none Common stock, S0.01 par value: Authorized shares - 5,000 Issued shares - 514 and 521 Outstanding shares - 491 and 498 Treasury stock, at cost Additional paid-in capital Accumulated other comprehensive income (loss) Retained earnings Total stockholders' equity Total liabilities and stockholders' equity See accompanying notes to consolidated financial statements. 38,192 $ 23,663 6,536 68.391 9.650 23,495 17,563 47,183 32,439 8,190 87,812 39.791 23.414 12,171 5 (1.837) 26,791 (1,035) 19,625 43,549 162.648 5 (1.837) 33.658 (986) 31.220 62,060 225.248 S AMAZON.COM, INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (in millions) 2019 11,588 78 (108) (30) Year Ended December 31, 2017 2018 Net income 3,033 $ 10,073 $ Other comprehensive income (loss): Net change in foreign currency translation adjustments: Foreign currency translation adjustments, net of tax of $5, S6, and $(5) 533 (538) Reclassification adjustment for foreign currency translation included in "Other operating expense (income), net," net of tax of so, $0, and $29 Net foreign currency translation adjustments 533 (538) Net change in unrealized gains (losses) on available-for-sale debt securities: Unrealized gains (losses), net of tax of S5, SO, and S(12) (39) (17) Reclassification adjustment for losses (gains) included in "Other income (expense), net," net of tax of So, so, and $0 7 Net unrealized gains (losses) on available-for-sale debt securities (32) Total other comprehensive income (loss) 501 (547) Comprehensive income 3,534 9,526 $ See accompanying notes to consolidated financial statements. 83 8 ILL! ILL 79 49 11,637 AMAZON.COM, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (in millions, except per share data) Year Ended December 31, 2017 2018 118,573 S 141,915 S 59,293 90,972 177,866 232,887 2019 160,408 120,114 280,522 Net product sales Net service sales Total net sales Operating expenses: Cost of sales Fulfillment Technology and content Marketing General and administrative Other operating expense (income), net Total operating expenses Operating income Interest income Interest expense Other income (expense), net Total non-operating income (expense) Income before income taxes Provision for income taxes Equity-method investment activity, net of tax Net income Basic earnings per share Diluted earnings per share Weighted-average shares used in computation of earnings per share: Basic Diluted 111,934 25,249 22,620 10.069 3,674 214 173,760 4,106 202 (848) 346 (300) 3,806 (769) 139, 156 34,027 28,837 13,814 4,336 296 220,466 12,421 440 (1,417) (183) (1,160) 11,261 (1,197) 9 165,536 40,232 35,931 18,878 5,203 201 265,981 14,541 832 (1,600) 203 (565) 13,976 (2,374) (14) 11,588 23.46 23.01 S $ 3,033 S 6.32 $ 6.15 10,073 S 20.68 $ 20.14 S $ 480 493 487 500 494 504 See accompanying notes to consolidated financial statements. AMAZON.COM, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (in millions) 2019 32.173 11.588 21.789 6.864 164 796 (3.278) (7.681) &.193 1.151 1.711 38 514 Year Ended December 31, CASH. CASH EQUIVALENTS, AND RESTRICTED CASH, BEGINNING OF PERIOD 19934 21.856 OPERATING ACTIVITIES: Net income 10,073 Adjustments to reconcile net income to net cash from operating activities: Depreciation and amortization of property and equipment and capitalized content costs, operating lease assets, and other 11.478 15.341 Stock-based compensation 415 5,418 Other operating expense (income), met 274 Other expense (income), net 219 Deferred income taxes 441 Changes in operating assets and liabilities: Inventories (3.583) (1,314 Accounts receivable, net and other (4.780) (4.615) Accounts payable 7.100 3.263 Accrued expenses and other 472 Uneamed revenue 738 Net cash provided by used in) operating activities 18.365 30,723 INVESTING ACTIVITIES: Purchases of property and equipment (11.955) Proceeds from property and equipment sales and incentives 1.897 2.104 Acquisitions, net of cash acquired, and other (13.972) (2.186) Sales and maturities of marketable securities 9.677 Purchases of marketable securities (12.731) (7.100) Net cash provided by (used in) investing activities (27,084) (12,369) FINANCING ACTIVITIES: Proceeds from long-term debt and other 768 Repayments of long-term debt and other (1_301) (668) Principal repayments of finance leases (4.799) (7.449) Principal repayments of financing obligations (200) (337) Net cash provided by used in financing activities 9.928 Foreign currency effect on cash, cash equivalents, and restricted cash 713 (351) Net increase (decrease) in cash, cash equivalents, and restricted cash 1.922 10,317 CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, END OF PERIOD 21 356 5 32.173 S SUPPLEMENTAL CASH FLOW INFORMATION: Cash paid for interest on long-term debe 854 Cash paid for operating leases Cash paid for interest on finance leases 200 381 Cash paid for interest on financing obligations 119 194 Cash paid for income taxes, net of refunds 1,184 Assets acquired under operating leases Property and equipment acquired under finance leases 9,637 10,615 Property and equipment acquired under build-to-suit arrangements 3.541 See accompanying notes to consolidated financial statements. (16.861) 4,172 (2.461) 22.681 (31.812 (24.281) 2.273 (2684) (9.628) (27) (10.066) 70 4.237 36410 875 3.361 647 39 881 7.870 13,723 1.362 Walmart Inc. Consolidated Statements of Cash Flows Fiscal Years Ended January 31. 2018 2020 15.2015 7.1795 10.323 10 529 (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 Asda pension contribution 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 10.987 (1.6) 15 (1,036) 320 10.578 3.516 4850 (304) 3.136 1.210 1.981 1.734 (1.074) 154 (300) (274) 186 (93) 25.255 (365) (1311) 13 183 (40) 27.753 406 92% (557) 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 Payments for business acquisitions, net of cash acquired Other investing activities Net cash used in investing activities (10.705) 321 833 (56) (10.344) 519 876 (14.656) (10,051) 378 1.046 (375) (24.036) 19.079) (4.656) 5.492 (1,907) 15872 (3.784) 7.476 (13.061) 3.059) (6,124) (6,048) (5.717) (555) (6,102) (7.410) (8) Cash flows from financing activities: Net change in short-term borrowings Proceeds from issuance of long-term debe Repayments of long-term debt Premiums paid to extinguish debe Dividends paid Purchase of Company stock Dividends paid to noncontrolling interest Purchase of noncontrolling interest Other financing activities Net cash used in financing activities Effect of exchange rates on cash, cash equivalents and restricted cash 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 year Supplemental disclosure of cash flow information: Income taxes paid Interest paid (905) (14.299) 2.537) (19.875) (69) (435) 1.759 7014 74756 (130) 7.144 77014 9.515 S 5 3.982 6.179 3,616 2.464 2.450 See accompanying notes Walmart Inc. Consolidated Statements of Shareholders' Equity Common Stock Shares Amount 3,048 $ 305 Accumulated Total Capital in Other Excess of Retained Comprehensive Shareholders' Noncontrolling Total Par Value Earnings Income (Less) Equity Interest Equity 2,371 $ 89,354 S (14.232) S 77,798 $ 2,737 S 80.535 9,862 9,862 661 10.523 4,051 4,051 169 4.220 (Amounts in millions) Balances as of February 1, 2017 Consolidated net income Other comprehensive income (loss), net of income taxes Cash dividends declared ($2.04 per share) Purchase of Company stock Cash dividend declared to noncontrolling interest Other Balances as of January 31, (6,124) (6.124) (6,124) (7.975) (103) (10) (219) (8,204) (8.204) (687) (687) 496 (10) 486 73 559 2.952 295 2018 2,648 85.107 (10,181) 77,869 2,953 80,822 2,361 (1.436) 925 924 6,670 6,670 S09 7.179 75 75 (188) (6.102) (6,102) (6,102) (80) (245) (7.234) (7.487) (7.487) (488) (488) 4,345 4,345 562 (17) 546 554 Adoption of new accounting standards on February 1, 2018, net of income taxes Consolidated net income Other comprehensive income (loss), net of income taxes Cash dividends declared (52.08 per share) Purchase of Company stock Cash dividend declared to noncontrolling interest Noncontrolling interest of acquired entity Other Balances as of January 31. 2019 Adoption of new accounting standards on February 1. 2019, net of income taxes Consolidated net income Other comprehensive income (loss), net of income taxes Cash dividends declared (52.12 per share) Purchase of Company stock Cash dividends declared to moncontrolling interest Other Balances as of January 31, 2020 2,878 288 2,965 80,785 (11,542) 72,496 7.135 79,634 (300) 14,881 14,881 320 15.201 28 (1.235) (6,048) - (6,045) (5,639) (6,048) (5,639) (53) (5) (199) (5,435) (475) (475) (94) 481 26 SOS 414 2.832S 284 5 3.247 $ 83,943S (12.805) S 74,669 6,883 $ 81,552 $ See accompanying notes Walmart Inc. Consolidated Balance Sheets As of January 31, 2019 (Amounts in millions) ASSETS Current assets: Cash and cash equivalents Receivables, net Inventories Prepaid expenses and other Total current assets 9.465 $ 6,284 44,435 1.622 61,806 7,722 6.283 44.269 61,897 104,317 105 206 17.424 4.417 Property and equipment, net Operating lease right-of-use assets Finance lease right-of-use assets, net Property under capital lease and financing obligations, net Goodwill Other long-term assets Total assets 31.073 16,567 236,495 $ 7,07% 31,181 14,822 219,295 LIABILITIES AND EQUITY Current liabilities: Short-term borrowings Accounts payable Accrued liabilities Accrued income taxes Long-term debt due within one year Operating Icase obligations due within one year Finance lease obligations due within one year Capital case and financing obligations due within one year Total current liabilities 575 46.973 22.296 280 5.362 1.793 SIL 5.225 47,060 22.159 428 1,876 729 77.477 77.790 41.520 Long-term debt Long-term operating lease obligations Long-term finance lease obligations Long-term capital lease and financing obligations Deferred income taxes and other 43,714 16,171 4.307 6,683 11.981 12.961 Commitments and contingencies Equity: Common stock Capital in excess of par value Retained earnings Accumulated other comprehensive loss Total Walmart shareholders' equity Noncontrolling interest Total equity Total liabilities and equity 284 3.247 83.943 (12.805) 74,669 6,883 81.552 236,495 288 2.965 80,75 (11.542) 72.496 7.138 219.295 See accompanying notes