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USD ($)
USD ($) / shares
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<p style="margin-top: 6px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>Note 1. Summary of Significant Accounting Policies </b></font></p>
<div>
<p style="margin-top: 6px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b><i>General </i></b></font></p>
<p style="margin-top: 6px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">Wal-Mart Stores, Inc. ("Walmart," the "Company" or "we") operates retail stores in various formats around the world, aggregated into three reportable segments: (1) the Walmart U.S. segment; (2) the Walmart International segment; and (3) the Sam's Club segment. We are committed to saving people money so they can live better. We earn the trust of our customers every day by providing a broad assortment of quality merchandise and services at every day low prices ("EDLP") while fostering a culture that rewards and embraces mutual respect, integrity and diversity. EDLP is our pricing philosophy under which we price items at a low price every day so our customers trust that our prices will not change under frequent promotional activity. Our fiscal year ends on January 31.</font></p></div>
<div>
<p style="margin-top: 18px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b><i>Principles of Consolidation </i></b></font></p>
<p style="margin-top: 6px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">The consolidated financial statements include the accounts of Wal-Mart Stores, Inc. and its subsidiaries. All material intercompany accounts and transactions have been eliminated in consolidation. Investments in unconsolidated affiliates, which are <font class="_mt">50</font>% or less owned and do not meet the consolidation criteria of Topic 810 of the Financial Accounting Standards Codification ("ASC") are accounted for using the equity method. These investments are immaterial to our consolidated financial statements. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">The Company's operations in Argentina, Brazil, Chile, China, Costa Rica, El Salvador, Guatemala, Honduras, India, Japan, Mexico, Nicaragua and the United Kingdom are consolidated using a December 31 fiscal year-end, generally due to statutory reporting requirements. There were no significant intervening events during January 2011 which materially affected the consolidated financial statements. The Company's operations in the United States and Canada are consolidated using a January 31 fiscal year-end.</font></p></div>
<div>
<p style="margin-top: 18px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b><i>Use of Estimates </i></b></font></p>
<p style="margin-top: 6px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">The consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States. Those principles require management to make estimates and assumptions that affect the reported amounts of assets and liabilities. Management's estimates and assumptions also affect the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from those estimates.</font></p></div>
<div>
<p style="margin-top: 18px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b><i>Cash and Cash Equivalents </i></b></font></p>
<p style="margin-top: 6px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">The Company considers investments with a maturity of three months or less when purchased to be cash equivalents. All credit card, debit card and EBT transactions that process in less than seven days are classified as cash and cash equivalents. The amounts due from banks for these transactions classified as cash totaled $<font class="_mt">1.2</font> billion and $<font class="_mt">2.6</font> billion at January 31, 2011 and 2010, respectively. In addition, cash and cash equivalents includes restricted cash related to cash collateral holdings from various counterparties as required by certain derivative and trust agreements of $<font class="_mt">504</font> million and $<font class="_mt">469</font> million at January 31, 2011 and 2010, respectively.</font></p> </div>
<div><font style="font-family: Times New Roman;" class="_mt" size="2"><b><i>Receivables </i></b></font>
<p style="margin-top: 6px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">Receivables consist primarily of amounts due from: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td width="5%"> </td>
<td valign="top" width="2%" align="left"><font style="font-family: Times New Roman;" class="_mt" size="2">•</font> </td>
<td valign="top" width="1%"> </td>
<td valign="top" align="left">
<p align="left"><font style="font-family: Times New Roman;" class="_mt" size="2">insurance companies resulting from our pharmacy sales; </font></p></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td width="5%"> </td>
<td valign="top" width="2%" align="left"><font style="font-family: Times New Roman;" class="_mt" size="2">•</font> </td>
<td valign="top" width="1%"> </td>
<td valign="top" align="left">
<p align="left"><font style="font-family: Times New Roman;" class="_mt" size="2">banks for customer credit card, debit card and electronic bank transfers that take in excess of seven days to process; </font></p></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td width="5%"> </td>
<td valign="top" width="2%" align="left"><font style="font-family: Times New Roman;" class="_mt" size="2">•</font> </td>
<td valign="top" width="1%"> </td>
<td valign="top" align="left">
<p align="left"><font style="font-family: Times New Roman;" class="_mt" size="2">suppliers for marketing or incentive programs; </font></p></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td width="5%"> </td>
<td valign="top" width="2%" align="left"><font style="font-family: Times New Roman;" class="_mt" size="2">•</font> </td>
<td valign="top" width="1%"> </td>
<td valign="top" align="left">
<p align="left"><font style="font-family: Times New Roman;" class="_mt" size="2">consumer financing programs in certain international subsidiaries; and </font></p></td></tr></table>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 6px;"> </p>
<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td width="5%"> </td>
<td valign="top" width="2%" align="left"><font style="font-family: Times New Roman;" class="_mt" size="2">•</font> </td>
<td valign="top" width="1%"> </td>
<td valign="top" align="left">
<p align="left"><font style="font-family: Times New Roman;" class="_mt" size="2">real estate transactions. </font></p></td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">We establish a reserve for uncollectible receivables based on historical trends in collection of past due amounts and write-off history. Our overall reserve for uncollectible receivables was $<font class="_mt">252</font> million and $<font class="_mt">298</font> million at January 31, 2011 and 2010, respectively. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">Our Walmart International segment offers a limited amount of consumer credit products, principally through our subsidiaries in Chile, Canada and Mexico. At January 31, 2011, the balance of these receivables was $<font class="_mt">673</font> million, net of its reserve for doubtful accounts of $<font class="_mt">83</font> million, and is included in receivables, net on the accompanying consolidated balance sheet. </font></p></div>
<div class="MetaData">
<p style="margin-top: 18px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b><i>Inventories </i></b></font></p>
<p style="margin-top: 6px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">The Company values inventories at the lower of cost or market as determined primarily by the retail method of accounting, using the last-in, first-out ("LIFO") method for substantially all of the Walmart U.S. segment's merchandise inventories. The retail method of accounting results in inventory being valued at the lower of cost or market since permanent markdowns are currently taken as a reduction of the retail value of inventory. The Sam's Club segment's merchandise is valued based on the weighted-average cost using the LIFO method. Inventories for the Walmart International operations are primarily valued by the retail method of accounting and are stated using the first-in, first-out ("FIFO") method. At January 31, 2011 and 2010, our inventories valued at LIFO approximate those inventories as if they were valued at FIFO. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">As discussed in Note 2, effective May 1, 2010 the Company changed the level at which it applies the retail method for valuing inventory for its operations in the United States, Canada, and Puerto Rico. 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 </font></p></div>
<div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b><i>Property and Equipment </i></b></font></p>
<p style="margin-top: 6px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">Property and equipment are stated at cost. Gains or losses on disposition are recognized as earned or incurred. Costs of major improvements are capitalized, while costs of normal repairs and maintenance are charged to expense as incurred. Property and equipment are generally depreciated over the following estimated useful lives on a straight line basis: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="68%" align="center">
<tr><td width="85%"> </td>
<td valign="bottom" width="4%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: Times New Roman;" class="_mt" size="2">Buildings and improvements</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font> </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2"><font class="_mt"><font style="font-family: Times New Roman;" class="_mt" size="2">3</font></font>–<font class="_mt">40</font> years</font> </td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: Times New Roman;" class="_mt" size="2">Fixtures and equipment</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font> </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2"><font class="_mt"><font style="font-family: Times New Roman;" class="_mt" size="2">3</font></font>–<font class="_mt">25</font> years</font> </td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: Times New Roman;" class="_mt" size="2">Transportation equipment</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font> </td>
<td valign="bottom" nowrap="nowrap"> </td>
<td valign="bottom" nowrap="nowrap" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2"><font class="_mt"><font style="font-family: Times New Roman;" class="_mt" size="2">4</font></font>–<font class="_mt">15</font> years</font> </td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font> </td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">Leasehold improvements are depreciated over the shorter of the estimated useful life of the asset or the remaining expected lease term. If significant expenditures are made for leasehold improvements late in the expected term of a lease and renewal is reasonably assured, the useful life of the leasehold improvement is limited to the end of the renewal period or economic life of the asset, whichever is shorter. Depreciation expense, including amortization of property under capital leases, for fiscal years 2011, 2010 and 2009 was $<font class="_mt">7.6</font> billion, $<font class="_mt">7.2</font> billion and $<font class="_mt">6.7</font> billion, respectively.</font></p></div>
<div>
<p style="margin-top: 18px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b><i>Capitalized Interest </i></b></font></p>
<p style="margin-top: 6px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">The interest costs associated with construction projects are capitalized and included as part of the cost of the project. When no debt is incurred specifically for a project, interest is capitalized on amounts expended on the project using our weighted average cost of borrowing. Capitalization of interest ceases when the project is substantially complete. Interest costs capitalized on construction projects were $<font class="_mt">63</font> million, $<font class="_mt">85</font> million and $<font class="_mt">88</font> million in fiscal 2011, 2010 and 2009, respectively.</font></p></div>
<div>
<p style="margin-top: 18px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b><i>Long-Lived Assets </i></b></font></p>
<p style="margin-top: 6px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">Long-lived assets are stated at cost. Management reviews long-lived assets for indicators of impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. The evaluation is performed at the lowest level of identifiable cash flows, which is at the individual store level or in certain circumstances a market group of stores. Undiscounted cash flows expected to be generated by the related assets are estimated over the asset's useful life based on updated projections. If the evaluation indicates that the carrying amount of the asset may not be recoverable, any potential impairment is measured based upon the fair value of the related asset or asset group as determined by an appropriate market appraisal or other valuation technique.</font></p></div>
<div>
<p style="margin-top: 18px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b><i>Goodwill and Other Acquired Intangible Assets </i></b></font></p>
<p style="margin-top: 6px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">Goodwill represents the excess of the purchase price over the fair value of net assets acquired in business combinations and is allocated to the appropriate segment when acquired. Other acquired intangible assets are stated at the fair value acquired as determined by a valuation technique commensurate with the intended use of the related asset. Goodwill and indefinite-lived intangible assets are not amortized; rather they are evaluated for impairment annually during our fourth fiscal quarter, or whenever events or changes in circumstances indicate that the value of the asset may be impaired. Definite-lived intangible assets are considered long-lived assets and are amortized on a straight-line basis over the periods that expected economic benefits will be provided. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px; font-size: 1px;"> </p>
<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">Goodwill is evaluated for impairment by determining the fair value of the related reporting unit. Fair value is measured based on discounted cash flow method and relative market-based approaches. The analyses require significant management judgment to evaluate the capacity of an acquired business to perform within projections. The Company has not recorded impairment charges related to goodwill. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">The following table reflects goodwill activity, by operating segment, for fiscal years 2011 and 2010: </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="92%" align="center">
<tr><td width="60%"> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="6%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="1"><i>(Amounts in millions)</i></font> </td>
<td valign="bottom"><font class="_mt" size="1"> </font> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center"><font style="font-family: Times New Roman;" class="_mt" size="1"><b>Walmart U.S.</b></font> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center"><font style="font-family: Times New Roman;" class="_mt" size="1"><b>Walmart</b></font><br /><font style="font-family: Times New Roman;" class="_mt" size="1"><b>International</b></font> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center"><font style="font-family: Times New Roman;" class="_mt" size="1"><b>Sam's Club</b></font> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center"><font style="font-family: Times New Roman;" class="_mt" size="1"><b>Total</b></font> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>February 1, 2009 </b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font> </td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2">$</font> </td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">207</font> </td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font> </td>
<td valign="bottom"><font class="_mt" size="1"> </font> </td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2">$</font> </td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">14,740</font> </td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font> </td>
<td valign="bottom"><font class="_mt" size="1"> </font> </td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2">$</font> </td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">313</font> </td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font> </td>
<td valign="bottom"><font class="_mt" size="1"> </font> </td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2">$</font> </td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">15,260</font> </td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: Times New Roman;" class="_mt" size="2">Currency translation and other</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">— </font> </td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font> </td>
<td valign="bottom"><font class="_mt" size="1"> </font> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">866</font> </td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font> </td>
<td valign="bottom"><font class="_mt" size="1"> </font> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">— </font> </td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font> </td>
<td valign="bottom"><font class="_mt" size="1"> </font> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">866</font> </td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font> </td></tr>
<tr style="font-size: 1px;"><td valign="bottom"> </td>
<td valign="bottom"> </td>
<td style="border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-top: #000000 1px solid;" valign="bottom"> </td>
<td> </td>
<td valign="bottom"> </td>
<td style="border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-top: #000000 1px solid;" valign="bottom"> </td>
<td> </td>
<td valign="bottom"> </td>
<td style="border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-top: #000000 1px solid;" valign="bottom"> </td>
<td> </td>
<td valign="bottom"> </td>
<td style="border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-top: #000000 1px solid;" valign="bottom"> </td>
<td> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>January 31, 2010 </b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">207</font> </td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font> </td>
<td valign="bottom"><font class="_mt" size="1"> </font> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">15,606</font> </td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font> </td>
<td valign="bottom"><font class="_mt" size="1"> </font> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">313</font> </td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font> </td>
<td valign="bottom"><font class="_mt" size="1"> </font> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">16,126</font> </td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: Times New Roman;" class="_mt" size="2">Currency translation and other</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">— </font> </td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font> </td>
<td valign="bottom"><font class="_mt" size="1"> </font> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">605</font> </td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font> </td>
<td valign="bottom"><font class="_mt" size="1"> </font> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">— </font> </td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font> </td>
<td valign="bottom"><font class="_mt" size="1"> </font> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">605</font> </td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: Times New Roman;" class="_mt" size="2">Acquisitions</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">32</font> </td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font> </td>
<td valign="bottom"><font class="_mt" size="1"> </font> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">— </font> </td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font> </td>
<td valign="bottom"><font class="_mt" size="1"> </font> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">— </font> </td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font> </td>
<td valign="bottom"><font class="_mt" size="1"> </font> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">32</font> </td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font> </td></tr>
<tr style="font-size: 1px;"><td valign="bottom"> </td>
<td valign="bottom"> </td>
<td style="border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-top: #000000 1px solid;" valign="bottom"> </td>
<td> </td>
<td valign="bottom"> </td>
<td style="border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-top: #000000 1px solid;" valign="bottom"> </td>
<td> </td>
<td valign="bottom"> </td>
<td style="border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-top: #000000 1px solid;" valign="bottom"> </td>
<td> </td>
<td valign="bottom"> </td>
<td style="border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-top: #000000 1px solid;" valign="bottom"> </td>
<td> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>January 31, 2011 </b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font> </td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2">$</font> </td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">239</font> </td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font> </td>
<td valign="bottom"><font class="_mt" size="1"> </font> </td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2">$</font> </td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">16,211</font> </td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font> </td>
<td valign="bottom"><font class="_mt" size="1"> </font> </td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2">$</font> </td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">313</font> </td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font> </td>
<td valign="bottom"><font class="_mt" size="1"> </font> </td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2">$</font> </td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">16,763</font> </td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font> </td></tr>
<tr style="font-size: 1px;"><td valign="bottom"> </td>
<td valign="bottom"> </td>
<td style="border-top: #000000 3px double;" valign="bottom"> </td>
<td style="border-top: #000000 3px double;" valign="bottom"> </td>
<td> </td>
<td valign="bottom"> </td>
<td style="border-top: #000000 3px double;" valign="bottom"> </td>
<td style="border-top: #000000 3px double;" valign="bottom"> </td>
<td> </td>
<td valign="bottom"> </td>
<td style="border-top: #000000 3px double;" valign="bottom"> </td>
<td style="border-top: #000000 3px double;" valign="bottom"> </td>
<td> </td>
<td valign="bottom"> </td>
<td style="border-top: #000000 3px double;" valign="bottom"> </td>
<td style="border-top: #000000 3px double;" valign="bottom"> </td>
<td> </td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">During fiscal 2011, Walmart U.S. completed an immaterial business acquisition that resulted in the recognition of $32 million in goodwill. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">Indefinite-lived intangible assets are included in other assets and deferred charges on the accompanying Consolidated Balance Sheets. These assets are evaluated for impairment based on their fair values using valuation techniques which are updated annually based on the most recent variables and assumptions. There were no impairment charges related to indefinite-lived intangible assets recorded during the fiscal years ended January 31, 2011, 2010 and 2009. </font></p></div>
<div class="MetaData">
<p style="margin-top: 18px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b><i>Self-Insurance Reserves </i></b></font></p>
<p style="margin-top: 6px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">The Company uses a combination of insurance, self-insured retention and self-insurance for a number of risks, including, but not limited to, workers' compensation, general liability, vehicle liability, property and the Company's obligation for employee-related health care benefits. Liabilities relating to these claims associated with these risks are estimated by considering historical claims experience, including frequency, severity, demographic factors, and other actuarial assumptions. In estimating our liability for such claims, we periodically analyze our historical trends, including loss development, and apply appropriate loss development factors to the incurred costs associated with the claims. See Note 6. </font></p></div>
<div>
<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b><i> </i></b></font> </p>
<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b><i>Income Taxes </i></b></font></p>
<p style="margin-top: 6px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">Income taxes are accounted for under the liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rate is recognized in income in the period that includes the enactment date. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts more likely than not to be realized. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">The Company records a liability for unrecognized tax benefits resulting from uncertain tax positions taken or expected to be taken in a tax return. The Company records interest and penalties related to unrecognized tax benefits in interest expense and operating, selling, general and administrative expenses, respectively, in the Company's Consolidated Statements of Income.</font></p></div>
<div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b><i>Revenue Recognition </i></b></font></p>
<p style="margin-top: 6px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">The Company recognizes sales revenue net of sales taxes and estimated sales returns at the time it sells merchandise to the customer. Customer purchases of shopping cards are not recognized as revenue until the card is redeemed and the customer purchases merchandise by using the shopping card. The Company also recognizes revenue from service transactions at the time the service is performed. Generally, revenue from services is classified as a component of net sales on our Consolidated Statements of Income. </font></p>
<p style="margin-top: 18px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b><i>Sam's Club Membership Fee Revenue Recognition </i></b></font></p>
<p style="margin-top: 6px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">The Company recognizes Sam's Club membership fee revenue both in the United States and internationally over the term of the membership, which is <font class="_mt">12</font> months. The following table summarizes membership fee activity for each of the fiscal years 2011, 2010 and 2009. </font></p>
<p style="margin-top: 0px; margin-bottom: 0px; font-size: 12px;"> </p>
<table border="0" cellspacing="0" cellpadding="0" width="84%" align="center">
<tr><td width="73%"> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td>
<td valign="bottom" width="7%"> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr><td valign="bottom"> </td>
<td valign="bottom"><font class="_mt" size="1"> </font> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="10" align="center"><font style="font-family: Times New Roman;" class="_mt" size="1"><b>Fiscal Years Ended January 31,</b></font> </td>
<td valign="bottom"> </td></tr>
<tr><td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="1"><i>(Amounts in millions)</i></font> </td>
<td valign="bottom"><font class="_mt" size="1"> </font> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center"><font style="font-family: Times New Roman;" class="_mt" size="1"><b>2011</b></font> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center"><font style="font-family: Times New Roman;" class="_mt" size="1"><b>2010</b></font> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" align="center"><font style="font-family: Times New Roman;" class="_mt" size="1"><b>2009</b></font> </td>
<td valign="bottom"> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>Deferred membership fee revenue, beginning of year</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font> </td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2">$</font> </td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">532</font> </td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2">$</font> </td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">541</font> </td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2">$</font> </td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">551</font> </td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: Times New Roman;" class="_mt" size="2">Cash received from members</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">1,074</font> </td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">1,048</font> </td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">1,044</font> </td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font> </td></tr>
<tr bgcolor="#cceeff"><td valign="top">
<p style="text-indent: -1em; margin-left: 1em;"><font style="font-family: Times New Roman;" class="_mt" size="2">Membership fee revenue recognized</font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">(1,064</font> </td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2">) </font> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">(1,057</font> </td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2">) </font> </td>
<td valign="bottom"> </td>
<td valign="bottom"> </td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">(1,054</font> </td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2">) </font> </td></tr>
<tr style="font-size: 1px;"><td valign="bottom"> </td>
<td valign="bottom"> </td>
<td style="border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-top: #000000 1px solid;" valign="bottom"> </td>
<td> </td>
<td valign="bottom"> </td>
<td style="border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-top: #000000 1px solid;" valign="bottom"> </td>
<td> </td>
<td valign="bottom"> </td>
<td style="border-top: #000000 1px solid;" valign="bottom"> </td>
<td style="border-top: #000000 1px solid;" valign="bottom"> </td>
<td> </td></tr>
<tr><td valign="top">
<p style="text-indent: -1em; margin-left: 3em;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>Deferred membership fee revenue, end of year</b></font></p></td>
<td valign="bottom"><font class="_mt" size="1"> </font> </td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2">$</font> </td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">542</font> </td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2">$</font> </td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">532</font> </td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font> </td>
<td valign="bottom"> </td>
<td valign="bottom"><font style="font-family: Times New Roman;" class="_mt" size="2">$</font> </td>
<td valign="bottom" align="right"><font style="font-family: Times New Roman;" class="_mt" size="2">541</font> </td>
<td valign="bottom" nowrap="nowrap"><font style="font-family: Times New Roman;" class="_mt" size="2"> </font> </td></tr>
<tr style="font-size: 1px;"><td valign="bottom"> </td>
<td valign="bottom"> </td>
<td style="border-top: #000000 3px double;" valign="bottom"> </td>
<td style="border-top: #000000 3px double;" valign="bottom"> </td>
<td> </td>
<td valign="bottom"> </td>
<td style="border-top: #000000 3px double;" valign="bottom"> </td>
<td style="border-top: #000000 3px double;" valign="bottom"> </td>
<td> </td>
<td valign="bottom"> </td>
<td style="border-top: #000000 3px double;" valign="bottom"> </td>
<td style="border-top: #000000 3px double;" valign="bottom"> </td>
<td> </td></tr></table>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">Sam's Club membership fee revenue is included in membership and other income in the revenues section of the accompanying Consolidated Statements of Income. The deferred membership fee is included in accrued liabilities on the accompanying Consolidated Balance Sheets.</font></p></div>
<div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b><i>Cost of Sales </i></b></font></p>
<p style="margin-top: 6px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">Cost of sales includes actual product cost, the cost of transportation to the Company's warehouses, stores and clubs from suppliers, the cost of transportation from the Company's warehouses to the stores and clubs and the cost of warehousing for our Sam's Club segment and import distribution centers.</font></p></div>
<div class="MetaData">
<p style="margin-top: 18px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b><i>Payments from Suppliers </i></b></font></p>
<p style="margin-top: 6px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">Walmart receives money from suppliers for various programs, primarily volume incentives, warehouse allowances and reimbursements for specific programs such as markdowns, margin protection and advertising. Substantially all payments from suppliers are accounted for as a reduction of inventory purchases and recognized in our Consolidated Statements of Income when the related inventory is sold. </font></p></div>
<div>
<p style="margin-top: 18px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b><i>Operating, Selling, General and Administrative Expenses </i></b></font></p>
<p style="margin-top: 6px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">Operating, selling, general and administrative expenses include all operating costs of the Company, except those costs related to the transportation of products from the supplier to the warehouses, stores or clubs, the costs related to the transportation of products from the warehouses to the stores or clubs and the cost of warehousing for our Sam's Club segment and import distribution centers. As a result, the majority of the cost of warehousing and occupancy for our Walmart U.S. and Walmart International segments' distribution facilities is included in operating, selling, general and administrative expenses. Because we do not include most of the cost of our Walmart U.S. and Walmart International segments' distribution facilities in cost of sales, our gross profit and gross profit as a percentage of net sales (our "gross profit margin") may not be comparable to those of other retailers that may include all costs related to their distribution facilities in cost of sales and in the calculation of gross profit.</font></p></div>
<div>
<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b><i> </i></b></font> </p>
<p style="margin-top: 0px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b><i>Advertising Costs </i></b></font></p>
<p style="margin-top: 6px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">Advertising costs are expensed as incurred and were $<font class="_mt">2.5</font> billion, $<font class="_mt">2.4</font> billion and $<font class="_mt">2.1</font> billion in fiscal 2011, 2010 and 2009, respectively. Advertising costs consist primarily of print, television and digital advertisements. Advertising reimbursements received from suppliers are generally accounted for as a reduction of purchases and recognized in our Consolidated Statements of Income when the related inventory is sold.</font></p></div>
<div class="MetaData">
<p style="margin-top: 18px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b><i>Leases </i></b></font></p>
<p style="margin-top: 6px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">The Company estimates the expected term of a lease by assuming the exercise of renewal options where an economic penalty exists that would preclude the abandonment of the lease at the end of the initial non-cancelable term and the exercise of such renewal is at the sole discretion of the Company. This expected term is used in the determination of whether a store or club lease is a capital or operating lease and in the calculation of straight-line rent expense. Additionally, the useful life of leasehold improvements is limited by the expected lease term or the economic life of the asset, whichever is shorter. If significant expenditures are made for leasehold improvements late in the expected term of a lease and renewal is reasonably assured, the useful life of the leasehold improvement is limited to the end of the renewal period or economic life of the asset, whichever is shorter. </font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">Rent abatements and escalations are considered in the calculation of minimum lease payments in the Company's capital lease tests and in determining straight-line rent expense for operating leases </font></p></div>
<div>
<p style="margin-top: 12px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b><i>Pre-Opening Costs </i></b></font></p>
<p style="margin-top: 6px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">The costs of start-up activities, including organization costs, related to new store openings, store remodels, expansions and relocations are expensed as incurred and included in operating, selling, general and administrative expenses on our Consolidated Statements of Income. Pre-opening costs totaled $<font class="_mt">320</font> million, $<font class="_mt">227</font> million and $<font class="_mt">289</font> million for the years ended January 31, 2011, 2010 and 2009, respectively. </font></p></div>
<div>
<p style="margin-top: 18px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b><i>Currency Translation </i></b></font></p>
<p style="margin-top: 6px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">The assets and liabilities of all international subsidiaries are translated from the respective local currency to the U.S. dollar using exchange rates at the balance sheet date. The income statements of international subsidiaries are translated from the respective local currencies to the U.S. dollar using average exchange rates for the period covered by the income statements. Related translation adjustments are recorded as a component of accumulated other comprehensive income (loss).</font></p></div>
<div class="MetaData">
<p style="margin-top: 18px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b><i>Reclassifications </i></b></font></p>
<p style="margin-top: 6px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">In connection with the Company's finance transformation project, we reviewed and adjusted the classification of certain revenue and expense items within our Consolidated Statements of Income for financial reporting purposes. The reclassifications did not impact operating income or consolidated net income attributable to Walmart. The changes were effective February 1, 2010 and have been reflected in all periods presented. </font></p></div>
<div>
<p style="margin-top: 18px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2"><b><i>Recent Accounting Pronouncements </i></b></font></p>
<p style="margin-top: 6px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">A new accounting standard, effective for and adopted by the Company on February 1, 2010, changes the approach to determining the primary beneficiary of a variable interest entity ("VIE") and requires companies to assess more frequently whether they must consolidate VIEs. The adoption of this new standard did not have a material impact on our consolidated financial statements. </font></p></div> </div>Note 1. Summary of Significant Accounting Policies
General
Wal-Mart Stores, Inc. ("Walmart," the "Company" or "we") operates retail stores in variousfalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringThis element may be used to describe all significant accounting policies of the reporting entity.Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 22
-Paragraph 8
falsefalse12Note 1. Summary of Significant Accounting PoliciesUnKnownUnKnownUnKnownUnKnownfalsetrue
