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Shareholders' Equity
 12 Months Ended
Jan. 31, 2022
Equity [Abstract]  
Shareholders' Equity Shareholders' Equity
The total authorized shares of $0.10 par value common stock is 11.0 billion, of which 2.8 billion were issued and outstanding as of January 31, 2022 and 2021.
Sale of Subsidiary Stock
During fiscal 2022, the Company received $3.2 billion primarily related to a new equity funding for the Company's majority-owned Flipkart subsidiary, which reduced the Company's ownership from approximately 83% as of January 31, 2021 to approximately 75%.
Share-Based Compensation
The Company has awarded share-based compensation to associates and nonemployee directors of the Company. The compensation expense recognized for all stock incentive plans, including expense associated with plans of the Company's consolidated subsidiaries granted in the subsidiaries' respective stock, was $1.2 billion, $1.2 billion and $0.9 billion for fiscal 2022, 2021 and 2020, respectively. Share-based compensation expense is generally included in operating, selling, general and administrative expenses in the Company's Consolidated Statements of Income. The total income tax benefit recognized for share-based compensation was $0.3 billion, $0.3 billion and $0.2 billion for fiscal 2022, 2021 and 2020, respectively. The following table summarizes the Company's share-based compensation expense by award type for all plans:
 Fiscal Years Ended January 31,
(Amounts in millions)202220212020
Restricted stock units$659 $742 $553 
Restricted stock and performance-based restricted stock units321 277 270 
Other183 150 31 
Share-based compensation expense$1,163 $1,169 $854 
The Walmart Inc. Stock Incentive Plan of 2015 (the "Plan"), as subsequently amended and restated, was established to grant stock options, restricted (non-vested) stock, restricted stock units, performance share units and other equity compensation awards for which 260 million shares of Walmart common stock issued or to be issued under the Plan have been registered under the Securities Act of 1933. The Company believes that such awards serve to align the interests of its associates with those of its shareholders.
The Plan's award types are summarized as follows:
•Restricted Stock Units. Restricted stock units provide rights to Company stock after a specified service period. Beginning in fiscal 2020, restricted stock units generally vest at a rate of 25% each year over a four year period from the date of the grant. Prior to fiscal 2020, 50% of restricted stock units generally vested three years from the grant date and the remaining 50% were vested five years from the grant date. The fair value of each restricted stock unit is determined on the date of grant using the stock price discounted for the expected dividend yield through the vesting period and is recognized ratably over the vesting period. The expected dividend yield is based on the anticipated dividends over the vesting period. The weighted-average discount for the dividend yield used to determine the fair value of restricted stock units granted in fiscal 2022, 2021 and 2020 was 3.8%, 4.4% and 4.9%, respectively.
•Restricted Stock and Performance-based Restricted Stock Units. Restricted stock awards are for shares that vest based on the passage of time and include restrictions related to employment. Performance-based restricted stock units vest based on the passage of time and achievement of performance criteria and generally range from 0% to 150% of the original award amount. Vesting periods for these awards are generally between one and three years. Restricted stock and performance-based restricted stock units may be settled or deferred in stock and are accounted for as equity in the Company's Consolidated Balance Sheets. The fair value of restricted stock awards is determined on the date of grant and is expensed ratably over the vesting period. The fair value of performance-based restricted stock units is determined on the date of grant using the Company's stock price discounted for the expected dividend yield through the vesting period and is recognized over the vesting period. The weighted-average discount for the dividend yield used to determine the fair value of performance-based restricted stock units in fiscal 2022, 2021 and 2020 was 4.2%, 4.5% and 5.1%, respectively.
In addition to the Plan, Flipkart has certain share-based compensation plans for associates under which options to acquire Flipkart common shares may be issued. Share-based compensation expense associated with these plans is included in the Other line in the table above.
The following table shows the activity for restricted stock units and restricted stock and performance-based restricted stock units during fiscal 2022:
Restricted Stock UnitsRestricted Stock and
Performance-based Restricted Stock Units
(Shares in thousands)SharesWeighted-Average Grant-Date Fair Value Per ShareSharesWeighted-Average Grant-Date Fair Value Per Share
Outstanding as of February 1, 202119,900 $92.13 5,413 $108.72 
Granted8,219 131.90 3,057 135.48 
Adjustment for performance achievement(1)
— — 920 107.67 
Vested/exercised(8,051)85.21 (2,614)100.30 
Forfeited (2,785)110.65 (636)110.95 
Outstanding as of January 31, 202217,283 $111.42 6,140 $125.25 
(1) Represents the adjustment to previously granted performance share units for performance achievement.
The following table includes additional information related to restricted stock units and restricted stock and performance-based restricted stock units: 
 Fiscal Years Ended January 31,
(Amounts in millions, except years)202220212020
Fair value of restricted stock units vested$703 $597 $442 
Fair value of restricted stock and performance-based restricted stock units vested264 275 365 
Unrecognized compensation cost for restricted stock units1,102 1,062 1,096 
Unrecognized compensation cost for restricted stock and performance-based restricted stock units417 344 326 
Weighted average remaining period to expense for restricted stock units (years)1.21.11.3
Weighted average remaining period to expense for restricted stock and performance-based restricted stock units (years)1.51.41.4
Share Repurchase Program
From time to time, the Company repurchases shares of its common stock under share repurchase programs authorized by the Company's Board of Directors. All repurchases made prior to February 22, 2021 were made under the plan in effect at the beginning of fiscal 2022. On February 18, 2021, the Board of Directors approved a new $20.0 billion share repurchase program which has no expiration date or other restrictions limiting the period over which the Company can make repurchases, and beginning February 22, 2021, replaced the previous share repurchase program. Any repurchased shares are constructively retired and returned to an unissued status.
The Company regularly reviews share repurchase activity and considers several factors in determining when to execute share repurchases, including, among other things, current cash needs, capacity for leverage, cost of borrowings, results of operations and the market price of the Company's common stock. The following table provides, on a settlement date basis, the number of shares repurchased, average price paid per share and total amount paid for share repurchases for fiscal 2022, 2021 and 2020:
Fiscal Years Ended January 31,
(Amounts in millions, except per share data)202220212020
Total number of shares repurchased 69.7 19.4 53.9 
Average price paid per share $140.45 $135.20 $105.98 
Total cash paid for share repurchases$9,787 $2,625 $5,717