Net Income Per Common Share (Notes)

9 Months Ended

Oct. 31, 2020

Basic net income per common share attributable to Walmart is based on the weighted-average common shares outstanding during the relevant period. Diluted net income per common share attributable to Walmart is based on the weighted-average common shares outstanding during the relevant period adjusted for the dilutive effect of share-based awards. The Company did not have significant share-based awards outstanding that were anti-dilutive and not included in the calculation of diluted net income per common share attributable to Walmart for the three and nine months ended October 31, 2020 and 2019.

The following table provides a reconciliation of the numerators and denominators used to determine basic and diluted net income per common share attributable to Walmart:


	Three Months Ended October 31,				Nine Months Ended October 31,
(Amounts in millions, except per share data)	2020		2019		2020		2019
Numerator
Consolidated net income	$	5,201	$	3,321	$	15,714	$	10,907
Consolidated net income attributable to noncontrolling interest	(66)		(33)		(113)		(167)
Consolidated net income attributable to Walmart	$	5,135	$	3,288	$	15,601	$	10,740

Denominator
Weighted-average common shares outstanding, basic	2,833		2,843		2,832		2,855
Dilutive impact of share-based awards	16		18		17		17
Weighted-average common shares outstanding, diluted	2,849		2,861		2,849		2,872

Net income per common share attributable to Walmart
Basic	$	1.81	$	1.16	$	5.51	$	3.76
Diluted	1.80		1.15		5.48		3.74