XML 41 R21.htm IDEA: XBRL DOCUMENT v3.22.4
Segments and Disaggregated Revenue
 12 Months Ended
Jan. 31, 2023
Segment Reporting Information, Profit (Loss) [Abstract]  
Segments and Disaggregated Revenue Segments and Disaggregated Revenue
Segments
The Company is engaged in the operation of retail and wholesale stores and clubs, as well as eCommerce websites, located throughout the U.S., Africa, Canada, Central America, Chile, China, India and Mexico. The Company previously operated in Argentina prior to the sale of Walmart Argentina in the fourth quarter of fiscal 2021 and operated in the United Kingdom and Japan prior to the sale of those operations in the first quarter of fiscal 2022. Refer to Note 12 for discussion of recent divestitures. The Company's operations are conducted in three reportable segments: Walmart U.S., Walmart International and Sam's Club. The Company defines its segments as those operations whose results the chief operating decision maker ("CODM") regularly reviews to analyze performance and allocate resources. The Company sells similar individual products and services in each of its segments. It is impracticable to segregate and identify revenues for each of these individual products and services.
The Walmart U.S. segment includes the Company's mass merchant concept in the U.S., as well as eCommerce, which includes omni-channel initiatives and certain other business offerings such as advertising services through Walmart Connect. The Walmart International segment consists of the Company's operations outside of the U.S., as well as eCommerce and omni-channel initiatives. The Sam's Club segment includes the warehouse membership clubs in the U.S., as well as eCommerce and omni-channel initiatives. Corporate and support consists of corporate overhead and other items not allocated to any of the Company's segments.
The Company measures the results of its segments using, among other measures, each segment's net sales and operating income, which includes certain corporate overhead allocations. From time to time, the Company revises the measurement of each segment's operating income, including any corporate overhead allocations, as determined by the information regularly
reviewed by its CODM. Information for the Company's segments, as well as for Corporate and support, including the reconciliation to income before income taxes, is provided in the following table:
(Amounts in millions)
Walmart U.S.Walmart InternationalSam's ClubCorporate and supportConsolidated
Fiscal Year Ended January 31, 2023
Net sales$420,553 $100,983 $84,345 $— $605,881 
Operating income (loss)20,620 2,965 1,964 (5,121)20,428 
Interest, net(1,874)
Other gains and (losses)(1,538)
Income before income taxes$17,016 
Total assets$130,659 $86,766 $15,490 $10,282 $243,197 
Depreciation and amortization7,054 1,964 609 1,318 10,945 
Capital expenditures11,425 2,625 727 2,080 16,857 
Fiscal Year Ended January 31, 2022
Net sales$393,247 $100,959 $73,556 $— $567,762 
Operating income (loss)21,587 3,758 2,259 (1,662)25,942 
Interest, net(1,836)
Loss on extinguishment of debt(2,410)
Other gains and (losses)(3,000)
Income before income taxes$18,696 
Total assets$125,044 $91,403 $14,678 $13,735 $244,860 
Depreciation and amortization$6,773 $1,963 $601 $1,321 10,658 
Capital expenditures$8,475 $2,497 $622 $1,512 13,106 
Fiscal Year Ended January 31, 2021
Net sales$369,963 $121,360 $63,910 $— $555,233 
Operating income (loss)19,116 3,660 1,906 (2,134)22,548 
Interest, net(2,194)
Other gains and (losses)210 
Income before income taxes$20,564 
Total assets$113,490 $109,445 $13,415 $16,146 $252,496 
Depreciation and amortization6,561 2,633 599 1,359 11,152 
Capital expenditures6,131 2,436 488 1,209 10,264 
Total revenues, consisting of net sales and membership and other income, and long-lived assets, consisting primarily of property and equipment, net and lease right-of-use assets, aggregated by the Company's U.S. and non-U.S. operations for fiscal 2023, 2022 and 2021, are as follows:
Fiscal Years Ended January 31,
(Amounts in millions)202320222021
Revenues
U.S. operations$508,685 $470,295 $436,649 
Non-U.S. operations102,604 102,459 122,502 
Total revenues$611,289 $572,754 $559,151 
Long-lived assets
U.S. operations$95,567 $89,795 $87,068 
Non-U.S. operations23,667 22,829 22,780 
Total long-lived assets$119,234 $112,624 $109,848 
No individual country outside of the U.S. had total revenues or long-lived assets that were material to the consolidated totals. Long-lived assets related to operations classified as held for sale are excluded from the table above. Additionally, the Company did not generate material revenues from any single customer.
Disaggregated Revenues
In the following tables, segment net sales are disaggregated by either merchandise category or market. In addition, net sales related to eCommerce are provided for each segment, which include omni-channel sales where a customer initiates an order digitally and the order is fulfilled through a store or club.
(Amounts in millions)Fiscal Years Ended January 31,
Walmart U.S. net sales by merchandise category202320222021
Grocery$247,299 $218,944 $208,413 
General merchandise118,597 125,876 119,406 
Health and wellness46,591 42,839 38,522 
Other categories8,066 5,588 3,622 
Total$420,553 $393,247 $369,963 
Of Walmart U.S.'s total net sales, approximately $53.4 billion, $47.8 billion and $43.0 billion related to eCommerce for fiscal 2023, 2022 and 2021, respectively.
(Amounts in millions)Fiscal Years Ended January 31,
Walmart International net sales by market202320222021
Mexico and Central America$40,496 $35,964 $32,642 
Canada22,300 21,773 19,991 
China14,711 13,852 11,430 
United Kingdom— 3,811 29,234 
Other23,476 25,559 28,063 
Total$100,983 $100,959 $121,360 
Of Walmart International's total net sales, approximately $20.3 billion, $18.5 billion and $16.6 billion related to eCommerce for fiscal 2023, 2022 and 2021, respectively.
(Amounts in millions)Fiscal Years Ended January 31,
Sam's Club net sales by merchandise category202320222021
Grocery and consumables$53,027 $46,822 $42,148 
Fuel, tobacco and other categories14,636 10,751 7,590 
Home and apparel9,579 9,037 7,340 
Health and wellness4,248 3,956 3,792 
Technology, office and entertainment2,855 2,990 3,040 
Total$84,345 $73,556 $63,910 
Of Sam's Club's total net sales, approximately $8.4 billion, $6.9 billion and $5.3 billion related to eCommerce for fiscal 2023, 2022 and 2021, respectively.