Net Income (Loss) Per Common Share

9 Months Ended

Oct. 31, 2022

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 (loss) 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 (loss) per common share attributable to Walmart for the three and nine months ended October 31, 2022 and 2021. Further, the calculation of diluted net loss per common share attributable to Walmart for the three months ended October 31, 2022 does not include the effect of share-based payment awards as their inclusion would be anti-dilutive and would reduce the net loss per common share.

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


	Three Months Ended October 31,				Nine Months Ended October 31,
(Amounts in millions, except per share data)	2022		2021		2022		2021
Numerator
Consolidated net income (loss)	$	(1,767)	$	3,132	$	5,483	$	10,307
Consolidated net income attributable to noncontrolling interest	(31)		(27)		(78)		(196)
Consolidated net income (loss) attributable to Walmart	$	(1,798)	$	3,105	$	5,405	$	10,111

Denominator
Weighted-average common shares outstanding, basic	2,711		2,785		2,733		2,799
Dilutive impact of share-based awards	—		12		10		14
Weighted-average common shares outstanding, diluted	2,711		2,797		2,743		2,813

Net income (loss) per common share attributable to Walmart
Basic	$	(0.66)	$	1.11	$	1.98	$	3.61
Diluted	(0.66)		1.11		1.97		3.59