Note 12. Segments

The Company is engaged in the operations of retail stores located in all 50 states of the United States and Puerto Rico, Argentina, Brazil, Canada, Central America, Chile, China, India, Japan, Mexico, sub-Saharan Africa and the United Kingdom. The Company's operations are conducted in three segments: the Walmart U.S. segment, the Walmart International segment, and the Sam's Club segment. The Company defines its segments as those business units whose operating results its 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 impractical to segregate and identify revenue for each of these individual products and services.

The Walmart U.S. segment includes the Company's mass merchant concept in the United States and Puerto Rico, operating primarily under the "Walmart" or "Wal-Mart" brands, as well as walmart.com. The Walmart International segment consists of the Company's operations outside of the United States and Puerto Rico. The Sam's Club segment includes the warehouse membership clubs in the United States and Puerto Rico, as well as samsclub.com.

Net sales by segment are as follows (amounts in millions):


	Three Months Ended October 31,				Nine Months Ended October 31,
	2011		2010		2011		2010
Net sales:
Walmart U.S.	$	63,835	$	62,178	$	191,397	$	189,156
Walmart International		32,383		26,919		90,387		77,850
Sam's Club		13,298		12,142		39,785		36,346

Total Company	$	109,516	$	101,239	$	321,569	$	303,352

The Company measures the results of its segments using, among other measures, each segment's 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 dictated by the information regularly reviewed by its CODM. When the Company does so, the prior period amounts for segment operating income are reclassified to conform to the current period's presentation.

Operating income by segment and interest expense, net are as follows (amounts in millions):


	Three Months Ended October 31,						Nine Months Ended October 31,
	2011			2010			2011			2010
Segment operating income:
Walmart U.S.	$	4,627		$	4,402		$	14,262		$	13,898
Walmart International		1,397			1,223			3,908			3,605
Sam's Club		390			367			1,341			1,224
Other unallocated		(536	)		(381	)		(1,354	)		(1,189	)

Operating income	$	5,878		$	5,611		$	18,157		$	17,538
Interest expense, net		(535	)		(516	)		(1,631	)		(1,472	)

Income from continuing operations before income taxes	$	5,343		$	5,095		$	16,526		$	16,066