Summarize the operating segments of the company and highlight any facts you find interesting and why.

As of and for the Fiscal Years Ended January 31 ,`Amounts in millions , EXCEPT Per share and' whit count data !20182017201020152014Operating resultsTotal revenues$50101. 3434$5. 873$4$2. 1304$5. 651\$76, 194Percentage change in total revenues from previous fiscal year3. 09%10. 71302 . 0^1.6 %/}Net sales$195 . 76 14$1. 317$ 78 . 6144$2. 275473. 076$$$Percentage change in net sales from previous fiscal year3. 09%0. 6%`1 . 5^1.6 %^Increase / decrease ) in calendar comparable sales'" in the U. S.2.2%1. 4%0. 3 ^0.5%10.51%Walmart LL.B .2. 1%1. 6%1.0 %0. 6%`Sam's Club2. 8%0. 5%13. 21 %0. 0`0.3 ^Gross profit margin24 . 7%`24. 5%24.6^24.3%24 .3 ^Operating , selling , general and administrative expenses , as a percentage of net sales21.5%21. 2%20.3 ^19. 4%^19. 3 ^Jperating income20. 437$27. 764$24 , 10527 , 147$26, $72LILCOINC from continuing operations attributable to Walmart*}, 8:0213, 64314 , 6:5416, 18215, 918Diluted income per common share from continuing operations attributable to Walmart$3.244.38$4.574.59$4. 85$$Dividends declared per common share*2.0142.0101.961.921. 8`Financial positionInventories$43. 78343.0146$4 4.4650$45. 1414 4. 85%$$Property , equipment , capital lease and financing obligation assets , net114. 81 81 14 . 17 8116.5101 16. 655|17. 907Total assets2:04, 522198, 8:251509, 581203, 4902014, 541Long-term debt and long-term capital lease and financing obligations ( excluding amounts due within one Year!36, 8:2512. 0184 4. 013043.4954 4. 368Total Walmart shareholders' equity*17 , $69$0.546$1, 39476, 255Unit counts ! `Walmart LI.S. SCOTTIEIt4 , 76 14 . 6724. 5744 . 5104 , 2013Walmart International Segment6. 3.606. 3.636. 2596. 2906. 107Sam's Club SEEITIsn't597655647Total units11. 71^11. 69511. 528\11. 45310.942 Operating DisciplineWe operate with discipline by managing expenses and optimizing the efficiency of how we work. We measure operating discipline through expense leverage, which we define as net sales growing at a faster rate than operating expenses.Fiscal Years Ended January 31,(Amounts in millions, except unit counts)20182017Net sales495,761481,317Percentage change from comparable period3.0%0.6%Operating, selling, general and administrative expenses106,510101,853Percentage change from comparable period4.6%5.0%Operating, selling, general and administrative expenses as a percentage of net sales21.5%21.2%For fiscal 2018, operating, selling, general and administrative ("operating") expenses as a percentage of net sales increased 32 basis points, when compared to the same period in the previous fiscal year. While our increase in net sales andimproving expense management had a positive impact on our operating expenses as a percentage of net sales, we did not leverage expenses as a result of approximately $0.6 billion of charges related to Sam's Club closures anddiscontinued real estate projects, approximately $400 million related to a lump sum bonus paid to associates, $300 million related to Home Office severance, a legal accrual of $283 million related to the FCPA matter, a charge of $244million related to Walmart U.S. discontinued real estate projects, and the decisions to exit certain international properties and wind down the first party Brazil eCommerce operations. ReturnsAs we execute our financial framework, we believe our returns on capital will improve over time. We measure returns on capital with our return on investment and free cash flow metrics. In addition, we provide returns in the form ofshare repurchases and dividends, which are discussed in the Liquidity and Capital Resources section.Return on Assets and Return on InvestmentWe include Return on Assets ("ROA"), the most directly comparable measure based on our financial statements presented in accordance with generally accepted accounting principles in the U.S. ("GAAP"), and Return on Investment("ROI") as metrics to assess returns on assets. While ROI is considered a non-GAAP financial measure, management believes ROI is a meaningful metric to share with investors because it helps investors assess how effectively Walmartis deploying its assets. Trends in ROI can fluctuate over time as management balances long-term potential strategic initiatives with possible short-term impacts. ROA was 5.2% and 7.2% for the fiscal years ended January 31, 2018 and2017, respectively. The decline in ROA was primarily due to the loss on extinguishment of debt and the decrease in operating income for the fiscal year ended January 31, 2018. ROI was 14.2% and 15.2% for the fiscal years endedJanuary 31, 2018 and 2017, respectively. The decline in ROI was primarily due to the decrease in operating income for the fiscal year ended January 31, 2018.We define ROI as adjusted operating income (operating income plus interest income, depreciation and amortization, and rent expense) for the fiscal year or trailing 12 months divided by average invested capital during that period. Weconsider average invested capital to be the average of our beginning and ending total assets, plus average accumulated depreciation and average accumulated amortization, less average accounts payable and average accrued liabilities forthat period, plus a rent factor equal to the rent for the fiscal year or trailing 12 months multiplied by a factor of eight. When we have discontinued operations, we exclude the impact of the discontinued operations.Our calculation of ROI is considered a non-GAAP financial measure because we calculate ROI using financial measures that exclude and include amounts that are included and excluded in the most directly comparable financial measurecalculated and presented in accordance with GAAP. For example, we exclude the impact of depreciation and amortization from our reported operating income in calculating the numerator of our calculation of ROI. In addition, weinclude a factor of eight for rent expense that estimates the hypothetical capitalization of our operating leases. As mentioned above, we consider ROA to be the financial measure computed in accordance with GAAP that is the mostdirectly comparable financial measure to our calculation of ROI. ROI differs from ROA (which is consolidated net income for the period divided by average total assets for the period) because ROI: adjusts operating income to excludecertain expense items and adds interest income; adjusts total assets for the impact of accumulated depreciation and amortization, accounts payable and accrued liabilities; and incorporates a factor of rent to arrive at total invested capital.Because of the adjustments mentioned above, we believe ROI more accurately measures how we are deploying our key assets and is more meaningful to investors than ROA.Although ROI is a standard financial metric, numerous methods exist for calculating a company's ROI. As a result, the method used by management to calculate our ROI may differ from the methods used by other companies to calculatetheir ROI. The calculation of ROA and ROI, along with a reconciliation of ROI to the calculation of ROA, the most comparable GAAP financial measure, is as follows:Fiscal Years Ended January 31(Amounts in millions)20182017CALCULATION OF RETURN ON ASSETSNumeratorConsolidated net income10,52314,293DenominatorAverage total assets(!)201,674199,203Return on assets (ROA)5.2%7.2%CALCULATION OF RETURN ON INVESTMENTNumeratorOperating income20,437$22,764+ Interest income152100+ Depreciation and amortization10,52910,080+ Rent2.9322.612= Adjusted operating income$34,05035,556DenominatorAverage total assets!!S201,674$199,203+ Average accumulated depreciation and amortization()79,99574,245- Average accounts payable"")43,76339,960- Average accrued liabilities")21,38820,131Rent x 823,45620.896= Average invested capital239,974234,253Return on investment (ROI)14.2%15.2% Free Cash FlowFree cash flow is considered a non-GAAP financial measure. Management believes, however, that free cash flow, which measures our ability to generate additional cash from our business operations, is an important financial measure foruse in evaluating the Company's financial performance. Free cash flow should be considered in addition to, rather than as a substitute for, consolidated net income as a measure of our performance and net cash provided by operatingactivities as a measure of our liquidity. See Liquidity and Capital Resources for discussions of GAAP metrics including net cash provided by operating activities, net cash used in investing activities and net cash used in financingactivities.We define free cash flow as net cash provided by operating activities in a period minus payments for property and equipment made in that period. We had net cash provided by operating activities of $28.3 billion, $31.7 billion and $27.6billion for fiscal 2018, 2017 and 2016, respectively. We generated free cash flow of $18.3 billion, $21.1 billion and $16.1 billion for fiscal 2018, 2017 and 2016, respectively. The decreases in net cash provided by operating activities andfree cash flow in fiscal 2018 from fiscal 2017 were primarily due to the timing of tax and other payments, as well as lapping the previous year's improvements in working capital management and the benefit from the application of taxregulations adopted in fiscal 2017. The increase in net cash provided by operating activities and free cash flow in fiscal 2017 from fiscal 2016 was primarily due to improved working capital management. Additionally, we benefited fromthe application of new tax regulations related to the accelerated deduction of remodels and related expenses.Walmart's definition of free cash flow is limited in that it does not represent residual cash flows available for discretionary expenditures due to the fact that the measure does not deduct the payments required for debt service and othercontractual obligations or payments made for business acquisitions. Therefore, we believe it is important to view free cash flow as a measure that provides supplemental information to our Consolidated Statements of Cash Flows.38 The following table sets forth a reconciliation of free cash flow, & non- GAAP financial measure , to net cash provided by operating activities , which we byflow, as well as information regarding net cash used in investing activities and net cash used in financing activities^Amounts in millions!Net cash provided by operating activitiesPayments for property" and equipmentFree cash flowNet cash used in investing activities!Net cash used in financing activitiesI'll " Net cash used in investing activities " includes payments for property," and equipment , which is also included in our computation of free cash flow.Results of OperationsConsolidated Results of Operations[Anowner in millions , Except what counts !"Total revenues H'almart International SegmentFiscal Year Ended January 3/1 .BINE| Amounts in millions , Except limit counts !20172010Net sales1 18. 06^110, 119123. 401^`Percentage change from comparable period1 . 7`15. 5}19. 41%$OPERATING INCOME5 . 3.52$5 . 75%$5, 3:45Operating income as a percentage of net sales4.5%5.0 ^4.3 %/}Unit counts at period end6. 3606. 3.636. 259Retail square feet at period and373377372 LiquidityThe strength and stability of our operations have historically supplied us with a significant source of liquidity. Our cash flows provided by operating activities, supplemented with our long-term debt and short-term borrowings, have beensufficient to fund our operations while allowing us to invest in activities that support the long-term growth of our operations. Generally, some or all of the remaining available cash flow has been used to fund the dividends on ourcommon stock and share repurchases. We believe our sources of liquidity will continue to be adequate to fund operations, finance our global investment and expansion activities, pay dividends and fund our share repurchases for theforeseeable future.Net Cash Provided by Operating ActivitiesFiscal Years Ended January 31,(Amounts in millions)201820172016Net cash provided by operating activities28.33731,67327,552Net cash provided by operating activities was $28.3 billion, $31.7 billion and $27.6 billion for fiscal 2018, 2017 and 2016, respectively. The decrease in net cash provided by operating activities for fiscal 2018, when compared to theprevious fiscal year, was due to the timing of tax and other payments, as well as lapping the previous year's improvements in working capital management and the benefit from the application of tax regulations adopted in fiscal 2017. Theincrease in net cash provided by operating activities for fiscal 2017, when compared to the previous fiscal year, was primarily due to improved working capital management. Additionally, we benefited from the application of new taxregulations related to the accelerated deduction of remodels and related expenses. Walmart Inc.Consolidated Statements of IncomeFiscal Years Ended January 31 .(^mount's in millions , except per share dave !20182017\2010Revenues :`Net sales495, 761S481, 317478, 6:14Membership and other income4.5424. 5563. 516"Total revenues50101, 343485, 873482, 130Lasts and Expenses :Cost of sales373, 390361, 250Operating , selling , general and administrative expenses106, 510101, 85397 , 0141Operating income20, 437\22, 704\24, 105 Walmart Inc .Consolidated Statements of Cash FlowsFiscal Years Ended January' 31 .`Amounts in millions !"20142017Cash flow's from operating activities :Consolidated net income101, 52314 , 293$15, 0180$Adjustments to reconcile consolidated net income to net cash provided by operating activities :Depreciation and amortization10.52010. 018:03.454Deferred income taxesTEL[ THE ]( 672 )Loss on extinguishment of debt*7 , 13.0Other operating activities1 , 21020101, 410Changes in certain assets and liabilities , net of effects of acquisitions*Receivables , not( 1 , 0174)|4012)( 19)Inventories|1401)1 . 0121(703 )Accounts payable4. 01803. 9422, 0:08Accrued liabilities1, 2801. 460ACCIUIEd income taxes155 7}457|472)Net cash provided by operating activities28, 73731. 67327, 552