WAL-MART STORES, INC.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

?

Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.

For the quarterly period ended April 30, 2017 . or

o

Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.

For the transition period from

to

.

Commission file number 1-6991

WAL-MART STORES, INC.

(Exact name of registrant as specified in its charter)

Delaware

(State or other jurisdiction of incorporation or organization)

71-0415188

(I.R.S. Employer Identification No.)

702 S.W. 8th Street Bentonville, Arkansas

(Address of principal executive offices)

72716

(Zip Code)

Registrant's telephone number, including area code: (479) 273-4000 Former name, former address and former fiscal year, if changed since last report: N/A

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or such shorter periods that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ?

No o

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (?232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ?

No o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large Accelerated Filer

?

Non-Accelerated Filer

o

Accelerated Filer

o

Smaller Reporting Company

o

Emerging Growth Company

o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Indicate by a check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes o

No ?

The registrant had 3,014,499,132 shares of common stock outstanding as of May 31, 2017.

Table of Contents

Wal-Mart Stores, Inc. Form 10-Q

For the Quarterly Period Ended April 30, 2017

Table of Contents

Part I. Financial Information Item 1. Financial Statements Condensed Consolidated Statements of Income Condensed Consolidated Statements of Comprehensive Income Condensed Consolidated Balance Sheets Condensed Consolidated Statement of Shareholders' Equity Condensed Consolidated Statements of Cash Flows Notes to Condensed Consolidated Financial Statements Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations Item 3. Quantitative and Qualitative Disclosures About Market Risk Item 4. Controls and Procedures

Part II. Other Information Item 1. Legal Proceedings Item 1A. Risk Factors Item 2. Unregistered Sales of Equity Securities and Use of Proceeds Item 5. Other Information Item 6. Exhibits

Signatures

2

Page

3 4 5 6 7 8 18 32 33

34 36 36 37 39

40

Table of Contents

PART I. FINANCIAL INFORMATION Item 1. Financial Statements

Wal-Mart Stores, Inc. Condensed Consolidated Statements of Income

(Unaudited)

(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 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

Weighted-average common shares outstanding: Basic Diluted

Dividends declared per common share

See accompanying notes.

3

Three Months Ended April 30,

2017

2016

$ 116,526 1,016

117,542

$ 114,986 918

115,904

87,688 24,617 5,237

86,544 24,085 5,275

506

499

92

86

(35)

(24)

563

561

4,674

4,714

1,522

1,498

3,152

3,216

(113)

(137)

$ 3,039 $ 3,079

$ 1.00 $ 0.98

1.00

0.98

3,035 3,047

3,144 3,154

$ 2.04 $ 2.00

Table of Contents

Wal-Mart Stores, Inc. Condensed Consolidated Statements of Comprehensive Income

(Unaudited)

(Amounts in millions) Consolidated net income

Less consolidated net income attributable to noncontrolling interest Consolidated net income attributable to Walmart

Other comprehensive income (loss), net of income taxes Currency translation and other Unrealized gain on available-for-sale securities Net investment hedges Cash flow hedges Minimum pension liability

Other comprehensive income (loss), net of income taxes Less other comprehensive income (loss) attributable to noncontrolling interest

Other comprehensive income (loss) attributable to Walmart

Comprehensive income, net of income taxes Less comprehensive income (loss) attributable to noncontrolling interest

Comprehensive income attributable to Walmart

See accompanying notes.

4

Three Months Ended April 30,

2017

2016

$ 3,152 $ 3,216

(113)

(137)

3,039

3,079

1,159

621

481

--

(113)

(78)

28

143

5

(99)

1,560

587

(282)

15

1,278

602

4,712

3,803

(395)

(122)

$ 4,317 $ 3,681

Table of Contents

Wal-Mart Stores, Inc. Condensed Consolidated Balance Sheets

(Unaudited)

(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 Less 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

April 30, 2017

January 31, 2017

April 30, 2016

$

6,545 $

6,867 $

7,597

5,252

5,835

5,187

43,361

43,046

44,513

2,178

1,941

1,800

57,336

57,689

59,097

181,075 (73,625) 107,450

179,492 (71,782) 107,710

178,296 (68,509) 109,787

11,854 (5,135) 6,719

11,637 (5,169) 6,468

11,667 (4,960) 6,707

Goodwill Other assets and deferred charges Total assets

17,575

17,037

16,751

10,638

9,921

6,363

$

199,718 $

198,825 $

198,705

LIABILITIES AND EQUITY Current liabilities:

Short-term borrowings Accounts payable Dividends 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

$

2,617 $

1,099 $

3,813

41,367

41,433

37,997

4,628

--

4,723

19,708

20,654

19,605

2,018

921

1,328

3,256

2,256

2,257

599

565

559

74,193

66,928

70,282

Long-term debt Long-term capital lease and financing obligations Deferred income taxes and other

33,774 6,251 9,386

36,015 6,003 9,344

37,151 6,242 7,272

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

See accompanying notes.

302

305

313

2,223

2,371

1,720

84,120

89,354

84,145

(12,954)

(14,232)

(10,995)

73,691

77,798

75,183

2,423

2,737

2,575

76,114

80,535

77,758

$

199,718 $

198,825 $

198,705

 ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download