Using Excel, complete trend analysis (both horizontal and vertical) and calculate all ratios. Discuss the company's activity ratios.Be sure to fully identify what caused certain trends and changes in patterns.
- Current Ratio
- Quick or acid-test ratio
- Current cash debt coverage
- Account receivable turnover
- Inventory turnover
- Asset turnover
- Profit margin on sales
- Return on assets
- Return on common stockholders' equity
- Earnings per share
- Payout ratio
- Debt to assets ratio
- Times interest earned
- Cash debt coverage
- Book value per share
Walmart Inc. Consolidated Balance Sheets As of January 31, (Amounts in millions) 2019 201 ASSETS Current assets: Cash and cash equivalents S 7,722 S 5,756 Receivables, net 6,283 5,614 Inventories 44,269 43,783 Prepaid expenses and other 3.623 3,511 Total current assets 61,897 59,664 Property and equipment: Property and equipment 185,810 185,154 Less accumulated depreciation (81,493) (77,479) Property and equipment, net 104,317 107,675 Property under capital lease and financing obligations: Property under capital lease and financing obligations 12,760 12,703 Less accumulated amortization (5,682) (5,560) Property under capital lease and financing obligations, net 7,078 7,143 Goodwill 31,181 18,242 Other long-term assets 14,822 11,798 Total assets S 219,295 204,522 LIABILITIES AND EQUITY Current liabilities: Short-term borrowings S 5,225 S 5,257 Accounts payable 47,060 46,092 Accrued liabilities 22,159 22,122 Accrued income taxes 428 645 Long-term debt due within one year 1,876 3,738 Capital lease and financing obligations due within one year 729 667 Total current liabilities 77,477 78,521Total current liabilities 77,477 78,521 Long-term debt 43,520 30,045 Long-term capital lease and financing obligations 6,683 6,780 Deferred income taxes and other 11,981 8,354 Commitments and contingencies Equity: Common stock 288 295 Capital in excess of par value 2,965 2,648 Retained earnings 80,785 85,107 Accumulated other comprehensive loss (11,542) (10,181) Total Walmart shareholders' equity 72,496 77,869 Noncontrolling interest 7,138 2,953 Total equity 79,634 80,822 Total liabilities and equity S 219,295 S 204,522Consolidated Statements of Cash Flows Fiscal Years Ended January 31, (Amounts in millions) 2019 2018 2017 Cash flows from operating activities: Consolidated net income 7,179 $ 10,523 14,293 Adjustments to reconcile consolidated net income to net cash provided by operating activities: Depreciation and amortization 10,678 10,529 10,080 Unrealized (gains) and losses 3,516 (Gains) and losses for disposal of business operations 4,850 Deferred income taxes (499) (304) 761 Loss on extinguishment of debt 3,136 Other operating activities 1,734 1,210 206 Changes in certain assets and liabilities, net of effects of acquisitions: Receivables, net (368) (1,074) (402) Inventories (1,311) (140) 1,021 Accounts payable 1,831 4,086 3,942 Accrued liabilities 183 928 1,280 Accrued income taxes (40) (557) 492 Net cash provided by operating activities 27,753 28,337 31,673 Cash flows from investing activities: Payments for property and equipment (10,344) (10,051) (10,619) Proceeds from the disposal of property and equipment 519 378 456 Proceeds from the disposal of certain operations 876 1,046 662 Purchase of available for sale securities (1,901) Payments for business acquisitions, net of cash acquired (14,656) (375) (2,463) Other investing activities 431 (77) (31) Net cash used in investing activities (24,036) (9,079) (13,896)Cash flows from financing activities: Net change in short-term borrowings (53) 4,148 (1,673) Proceeds from issuance of long-term debt 15,872 7,476 137 Repayments of long-term debt (3,784) (13,061) (2,055) Premiums paid to extinguish debt (3,059) Dividends paid (6,102) (6,124) (6,216) Purchase of Company stock (7,410) (8,296) (8,298) Dividends paid to noncontrolling interest (431) (690) (479) Purchase of noncontrolling interest (8) (90) Other financing activities (629) 261 398 Net cash used in financing activities (2,537) 19,875) (19,072) Effect of exchange rates on cash, cash equivalents and restricted cash (438) 487 (452) Net increase (decrease) in cash, cash equivalents and restricted cash 742 (130) (1,747) Cash, cash equivalents and restricted cash at beginning of year 7,014 7,144 B,891 Cash, cash equivalents and restricted cash at end of period $ 7,756 $ 7.014 $ 7,144 Supplemental disclosure of cash flow information: Income taxes paid 3,982 6,179 4.507 Interest paid 2,348 2,450 2,351 See accompanying notes. 52Walmart 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 5.204 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 $ 5.670 $ 9.862 $ 13,643 Net income per common share: Basic net income per common share attributable to Walmart $ 2.28 S 3.29 4.40 Diluted net income per common share attributable to Walmart 2.26 3.28 4.38 Weighted-average common shares outstanding: Basic 2,929 2,995 3,101 Diluted 2,945 3,010 3,112 Dividends declared per common share 2.08 $ 2.04 $ 2.00Walmart Inc. Consolidated Statements of Comprehensive Income Fiscal Years Ended January 31, "Amounts in millions) 2019 201 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 Other comprehensive income (loss), net of income taxes Currency translation and other (226) 2.540 (3,027) Net investment hedges 272 (405 413 Cash flow hedges (290) 437 21 Minimum pension liability 131 147 (397) Unrealized gain on available-for-sale securities 1,501 145 Other comprehensive income (loss), net of income taxes (113) 4,220 (2,845) Other comprehensive (income) loss attributable to noncontrolling interest 188 (169) 210 Other comprehensive income (loss) attributable to Walmart 75 4.051 2,635) Comprehensive income, net of income taxes 7.066 14,743 11,448 Comprehensive (income) loss attributable to noncontrolling interest (321) (830) (440) Comprehensive income attributable to Walmart $ 6,745 13,913 1,008 ee accompanying notes.Walmart Inc. Consolidated Statements of Shareholders' Equity Accumulated Total Capital in Other Walmart Common Stock Excess of Retained Comprehensive Shareholders' Noncontrolling Total (Amounts in millions) Shares Amount Par Value Earning Income (Loss) Balances as of February 1, 2016 Equity Interest Equity 3,162 317 1,805 $ 90,021 (11,597) 80,546 3.065 Consolidated net income 83,611 13,643 13,643 650 Other comprehensive income (loss), net of income taxes 14,293 (2,635) Cash dividends declared ($2.00 per share) (2,635) (210) (2,845) (6,216) (6,216) Purchase of Company stock (120) (6,216) (12) (174) (8,090) Cash dividend declared to noncontrolling interest (8,276) (8,276) Other (519) (519) 6 - 740 (4) 736 (249) Balances as of January 31, 2017 487 3.048 305 2,371 89,354 (14,232) 77,798 Consolidated net income 2,737 80,535 - 9.862 9.862 661 Other comprehensive income (loss), net of income taxes 10,523 - 4,051 4,051 169 Cash dividends declared ($2.04 per share) 4,220 (6,124) Purchase of Company stock (6,124) (6,124) (103) (10) (219) (7,975) Cash dividend declared to noncontrolling interest (8,204) (8,204) - Other (687) (687) 7 - 496 (10) 486 Balances as of January 31, 2018 73 559 2,952 295 2,648 85,107 Adoption of new accounting standards on February 1, 2018, (10,181) 77,869 2,953 80,822 net of income taxes 2,361 (1,436) 925 (1) 924 Consolidated net income 6,670 6,670 509 Other comprehensive income (loss), net of income taxes 7,179 75 75 Cash dividends declared ($2.08 per share) (188) (113) (6,102) Purchase of Company stock (6,102) (6,102) (80) (8) (245) (7,234) Cash dividend declared to noncontrolling interest (7,487) (7,487) - Noncontrolling interest of acquired entity (488) (488) - 4,345 4,345 Other 6 1 562 (17) 546 Balances as of January 31, 2019 8 554 2,878 $ 288 $ 2,965 $ 80,785 $ 11,542) $ 72,496 $ 7,138 $ 79,634
