Walmart Capital Structure A. List the total liabilities and the total stockholders' equity for each year presented in Walmart's balance sheet (no detailed information, please). Which are greater, liabilities or equity? Comment on how the mix of liabilities and equity relates to Walmart. Are liabilities and/or stockholders' equity growing or shrinking? How has this relationship changed over time? B. Capital Stock 1. List the types and number of shares of authorized and outstanding common stock for the current year and previous year. 2. Does Walmart's common stock have a par value? If so, what was it? 3. Does Walmart have any preferred stock authorized? If so, how many shares were authorized and outstanding? 4. Does Walmart have any treasury stock? If so, list the number of shares presented for the current year. 5. List the stock market prices shown in the annual report. This information should cover at least each quarter for the past 2 years (consider creating a table to present the stock price by quarter for two years). 6. Did Walmart pay cash dividends during the current year? If so, how much were they? 7. If Walmart paid cash dividends, what percentage of net income were the cash dividends? If Walmart did not pay cash dividends, why do you think it did not? Walmart Inc. Consolidated Statements of Comprehensive Income (Amounts in millions) Consolidated net income Consolidated net income attributable to noncontrolling interest Consolidated net income attributable to Walmart Fiscal Years Ended January 31, 2019 2018 2017 7.179 $ 10,523 $ 14,293 (509) (661) (650) 6,670 9,862 13,643 (226) 272 (290) 131 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 Comprehensive income, net of income taxes Comprehensive (income) loss attributable to noncontrolling interest Comprehensive income attributable to Walmart See accompanying notes 2,540 (405) 437 147 1,501 4,220 (169) 4,051 (3,027) 413 21 (397) 145 (2.845) 210 (2,635) (113) 188 75 7,066 (321) 6.745 $ 14,743 (830) 13.913 11,448 (440) 11.00 Walmart Inc. Consolidated Statements of Income Fiscal Years Ended January 31, 2018 2019 2017 s $ 510,329 $ 4,076 514,405 495,761 4.582 500,343 481,317 4,556 485,873 385,301 107,147 21,957 373,396 106,510 20,437 361,256 101,853 22,764 (Amounts in millions, 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 Loss on extinguishment of debt Other (gains) and losses Income before income taxes Provision for income taxes Consolidated net income Consolidated net income attributable to noncontrolling interest Consolidated net income attributable to Walmart Net income per common share: Basic net income per common share attributable to Walmart Diluted net income per common share attributable to Walmart 1,975 371 (217) 2,129 1,978 352 (152) 2,178 3,136 2,044 323 (100) 2,267 8,368 11,460 4,281 7,179 (509) 6,670 15.123 4,600 10,523 (661) 9.862 $ 20,497 6,204 14,293 (650 13,643 s 2.28 2.26 3.29 3.28 4.40 4.38 Weighted-average common shares outstanding: Basic Diluted 2,929 2.995 3,101 3,112 2,945 3,010 Dividends declared per common share $ 2.08 S 2.04 $ 2.00 See accompanying notes Valmart Inc. Consolidated Balance Sheets As of January 31, 2019 2018 7,722 $ 6,283 44.269 3,623 61,897 6,756 5,614 43,783 3.511 59,664 (Amounts in millions) ASSETS Current assets: Cash and cash equivalents Receivables, net Inventories Prepaid expenses and other Total current assets Property and equipment: Property and equipment Les 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 185,810 (81,493) 104,317 185,154 (77,479) 107,675 12,760 (5,682) 7,078 12,703 (5.560) 7.143 Goodwill Other long-term assets Total assets 31,181 14,822 219.295 s 18.242 11,798 204.522 s 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 Total current liabilities 5,225 47,060 22,159 428 5.257 46,092 22,122 645 3,738 667 78,521 1,876 729 77,477 Long-term debt Long-term capital lease and financing obligations Deferred income taxes and other 43,520 6,683 11,981 30.045 6,780 8,354 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 288 2,965 80,785 (11,542) 72,496 7,138 79,634 219,295 295 2.648 85,107 (10,181) 77,869 2,953 80.822 204.522 Walmart Inc. Consolidated Statements of Shareholders' Equity Accumulated Total Capital in Other Walmart Common Stock Excess of Retained Comprehensive Shareholders' Noncontrolling Total Shares Amount Par Value Earnings Income (Loss) Equity Interest Equity 3,162 $ 317 $ 1,805 $ 90,021 S (11,597) $ 80,546 $ 3,065 $ 83,611 13,643 13,643 650 14,293 (2,635) (2.635) (210) (2,845) (6,216) (6,216) (6,216) (120) (12) (174) (8,090) (8,276) (8,276) (519) (519) 740 2,371 3,048 305 (14,232) 89,354 9,862 736 77,798 9,862 (249) 2,737 661 487 80,535 10,523 4,051 4,051 169 4,220 (6,124) (6,124) (6,124) (103) (10) (219) (7,975) (8,204) (8,204) (Amounts in millions) Balances as of February 1, 2016 Consolidated net income Other comprehensive income (loss), net of income taxes Cash dividends declared ($2.00 per share) Purchase of Company stock Cash dividend declared to noncontrolling interest Other Balances as of January 31, 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, 2018 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 ($2.08 per share) Purchase of Company stock Cash dividend declared to noncontrolling interest Noncontrolling interest of acquired entity Other Balances as of January 31, 2019 (687) (687) 7 486 73 496 2,648 (10) 85,107 559 80,822 2,952 295 (10,181) 77,869 2,953 2,361 (1,436) 925 (1) 924 6,670 6,670 509 7,179 75 75 (188) (113) (6,102) (6,102) (6,102) (80) (8) (245) (7,234) (7.487) (7,487) (488) (488) 4,345 4,345 546 562 (17) 2,965 $ 80,785 S 8 554 7,138 $ 79,634 2,878 $ 288 $ (11,542) $ 72,496 $ See accompanying notes