2011 Financial Review Five-Year Financial Summary

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Five-Year Financial Summary

(Dollar amounts in millions, except per share and unit count data)

As of and for the Fiscal Years Ended January 31,
  As Adjusted

2011
 
2010
 
2009
 
2008
 
2007
 
Operating Results (1)
Net sales
Net sales increase
Comparable store sales in the United States (2)
    Walmart U.S.
    Sam’s Club
Gross profit margin
  $418,952
3.4%
-0.6%
-1.5%
3.9%
24.7%
  $405,132
1.0%
-0.8%
-0.7%
-1.4%
24.9%
  $401,087
7.3%
3.5%
3.2%
4.9%
24.2%
  $373,821
8.4%
1.6%
1.0%
4.9%
24.0%
  $344,759
11.6%
2.0%
1.9%
2.5%
23.4%
Operating, selling, general and administrative expenses,  
as a percentage of net sales
Operating income
Income from continuing operations attributable to Walmart
  19.3%
$  25,542
15,355
  19.7%
$  24,002
14,449
  19.3%
$  22,767
13,235
  19.0%
$  21,916
12,841
  18.5%
$  20,552
12,224
Net income per share of common stock:
    Diluted net income per common share from
 
    continuing operations attributable to Walmart
Dividends declared per common share
  $     4.18
1.21
  $     3.73
1.09
  $     3.35
0.95
  $     3.15
0.88
  $     2.93
0.67
Financial Position  
Inventories
Property, equipment and capital lease assets, net
Total assets
Long-term debt, including obligations under capital leases
Total Walmart shareholders’ equity
  $  36,318
107,878
180,663
43,842
68,542
  $  32,713
102,307
170,407
36,401
70,468
  $  34,013
95,653
163,096
34,549
64,969
  $  34,690
96,867
163,200
33,402
64,311
  $  33,235
88,287
151,274
30,735
61,298
Unit Counts  
Walmart U.S. segment
Walmart International segment
Sam’s Club segment
  3,804
4,557
609
  3,755
4,099
605
  3,703
3,595
611
  3,595
3,093
600
  3,488
2,733
588
Total units
  8,970   8,459   7,909   7,288   6,809
(1) Effective May 1, 2010, the Company implemented a new financial system for its operations in the United States, Canada and Puerto Rico. Concurrent with this implementationand the increased system capabilities, the Company changed the level at which we apply the retail method of accounting for inventory in these operations. The retrospective application of this accounting change impacted both segment and consolidated operating income, as well as consolidated net income for all comparable periods presented. See “Notes to Consolidated Financial Statements,” Note 2. “Accounting Change.”

In addition, we reclassified certain revenue and expense items within our Consolidated Statements of Income for financial reporting purposes. The reclassifications did not
impact consolidated operating income or consolidated net income attributable to Walmart. The changes were effective February 1, 2009 and have been reflected for
fiscal 2010, 2009 and 2008.

(2) Comparable store and club sales include fuel. Fiscal 2008 and fiscal 2007 comparable sales include all stores and clubs that have been open for at least the previous 12 months. Additionally, for those fiscal years, stores and clubs that are relocated, expanded or converted are excluded from comparable sales for the first 12 months following the relocation, expansion or conversion. Fiscal 2011, 2010 and 2009 comparable sales include sales from stores and clubs open for the previous 12 months, including remodels, relocations and expansions. Fiscal 2008 and fiscal 2007 comparable store and club sales do not reflect reclassifications effective February 1, 2009, as noted above.

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