What changed in this filing

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Item 1. Financial Statements

2023-09-01 compared with 2023-06-02 · 94 added, 63 removed, 398 unchanged (28% of the section changed)

1 unchanged sentence

Condensed Consolidated Statements of Income

Three Months Ended April 30,

Three Months Ended July 31, Six Months Ended July 31,

(Amounts in millions, except per share data) 2023 2022 2023 2022

6 unchanged sentences

Operating income 7,316 6,854 13,556 12,172

Debt 543 395 1,111 767

Finance lease 99 84 195 167

5 unchanged sentences

Consolidated net income 8,053 5,147 9,949 7,250

Consolidated net income attributable to noncontrolling interest ( 223 ) ( 49 )

Consolidated net (income) loss attributable to noncontrolling interest ( 162 ) 2 ( 385 ) ( 47 )

Consolidated net income attributable to Walmart $ 7,891 $ 5,149 $ 9,564 $ 7,203

8 unchanged sentences

Condensed Consolidated Statements of Comprehensive Income

Three Months Ended April 30,

Three Months Ended July 31, Six Months Ended July 31,

(Amounts in millions) 2023 2022 2023 2022

Consolidated net income $ 8,053 $ 5,147 $ 9,949 $ 7,250

Consolidated net income attributable to noncontrolling interest ( 223 ) ( 49 )

Consolidated net (income) loss attributable to noncontrolling interest ( 162 ) 2 ( 385 ) ( 47 )

Consolidated net income attributable to Walmart 7,891 5,149 9,564 7,203

8 unchanged sentences

Comprehensive income, net of income taxes 8,494 3,476 11,132 5,854

Comprehensive income attributable to noncontrolling interest ( 432 ) ( 56 )

Comprehensive (income) loss attributable to noncontrolling interest ( 274 ) 277 ( 706 ) 221

Comprehensive income attributable to Walmart $ 8,220 $ 3,753 $ 10,426 $ 6,075

1 unchanged sentence

Condensed Consolidated Balance Sheets

April 30, January 31, April 30,

July 31, January 31, July 31,

(Amounts in millions) 2023 2023 2022

52 unchanged sentences

Balances as of April 30, 2023 2,694 $ 269 $ 5,248 $ 78,035 $ ( 11,147 ) $ 72,405 $ 6,826 $ 79,231

Consolidated net income — — — 7,891 — 7,891 162 8,053

Other comprehensive income, net of income taxes — — — — 329 329 112 441

Purchase of Company stock ( 3 ) — ( 29 ) ( 454 ) — ( 483 ) — ( 483 )

Dividends to noncontrolling interest — — — — — — ( 6 ) ( 6 )

Purchase of noncontrolling interest — — ( 1,076 ) — — ( 1,076 ) ( 1,367 ) ( 2,443 )

Sale of subsidiary stock — — 160 — — 160 54 214

Other 1 — 332 ( 2 ) — 330 ( 10 ) 320

Balances as of July 31, 2023 2,692 $ 269 $ 4,635 $ 85,470 $ ( 10,818 ) $ 79,556 $ 5,771 $ 85,327

See accompanying notes.

12 unchanged sentences

Balances as of April 30, 2022 2,748 $ 275 $ 4,587 $ 80,532 $ ( 8,498 ) $ 76,896 $ 8,704 $ 85,600

Consolidated net income — — — 5,149 — 5,149 ( 2 ) 5,147

Other comprehensive (loss), net of income taxes — — — — ( 1,396 ) ( 1,396 ) ( 275 ) ( 1,671 )

Purchase of Company stock ( 26 ) ( 3 ) ( 182 ) ( 3,201 ) — ( 3,386 ) — ( 3,386 )

Dividends to noncontrolling interest — — — — — — ( 434 ) ( 434 )

Sale of subsidiary stock — — 8 — — 8 2 10

Other — — 259 39 — 298 23 321

Balances as of July 31, 2022 2,722 $ 272 $ 4,672 $ 82,519 $ ( 9,894 ) $ 77,569 $ 8,018 $ 85,587

See accompanying notes.

Condensed Consolidated Statements of Cash Flows

Three Months Ended April 30,

Six Months Ended July 31,

(Amounts in millions) 2023 2022

12 unchanged sentences

Accrued income taxes 22 16

Net cash provided by (used in) operating activities 4,633 ( 3,758 )

Net cash provided by operating activities 18,201 9,240

Cash flows from investing activities:

11 unchanged sentences

Purchase of Company stock ( 1,171 ) ( 5,747 )

Dividends paid to noncontrolling interest ( 214 ) —

Sale of subsidiary stock 697 45

Purchase of noncontrolling interest ( 3,462 ) —

Other financing activities ( 1,172 ) ( 1,408 )

Net cash provided by financing activities 1,940 5,315

Net cash used in financing activities ( 3,309 ) ( 1,400 )

Effect of exchange rates on cash, cash equivalents and restricted cash 147 ( 100 )

14 unchanged sentences

The Company consolidates all other operations generally using a one-month lag based on a calendar year.

There were no significant intervening events during the month of April 2023 related to the consolidated operations using a lag that materially affected the Condensed Consolidated Financial Statements.

There were no significant intervening events during the month of July 2023 related to the consolidated operations using a lag that materially affected the Condensed Consolidated Financial Statements.

The Company's business is seasonal to a certain extent due to calendar events and national and religious holidays, as well as weather patterns.

10 unchanged sentences

The Company has supplier financing programs with financial institutions, in which the Company agrees to pay the financial institution the stated amount of confirmed invoices on the invoice due date for participating suppliers.

Participation in these programs is optional and solely up to the supplier, who negotiate the terms of the arrangement directly with the financial institution and may allow early payment.

Participation in these programs is optional and solely up to the supplier, who negotiates the terms of the arrangement directly with the financial institution and may allow early payment.

Supplier participation in these programs has no bearing on the Company's amounts due.

2 unchanged sentences

The Company is responsible for ensuring that participating financial institutions are paid according to the terms negotiated with the supplier, regardless of whether the supplier elects to receive early payment from the financial institution.

The outstanding payment obligations to financial institutions under these programs were $ 4.7 billion, $ 5.2 billion and $ 6.0 billion, as of April 30, 2023, January 31, 2023 and April 30, 2022, respectively.

These obligations are primarily recorded within the accounts payable account within the Condensed Consolidated Balance Sheets.

The activity related to these programs is reflected within the operating activities section of the Condensed Consolidated Statements of Cash Flows.

The outstanding payment obligations to financial institutions under these programs were $ 5.3 billion, $ 5.2 billion and $ 6.4 billion, as of July 31, 2023, January 31, 2023 and July 31, 2022, respectively.

These obligations are generally classified as accounts payable within the Condensed Consolidated Balance Sheets.

The activity related to these programs is classified as an operating activity within the Condensed Consolidated Statements of Cash Flows.

Net Income Per Common Share

1 unchanged sentence

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 months ended April 30, 2023 and 2022.

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 April 30,

Three Months Ended July 31, Six Months Ended July 31,

(Amounts in millions, except per share data) 2023 2022 2023 2022

Consolidated net income $ 8,053 $ 5,147 $ 9,949 $ 7,250

Consolidated net income attributable to noncontrolling interest ( 223 ) ( 49 )

Consolidated net (income) loss attributable to noncontrolling interest ( 162 ) 2 ( 385 ) ( 47 )

Consolidated net income attributable to Walmart $ 7,891 $ 5,149 $ 9,564 $ 7,203

8 unchanged sentences

(Amounts in millions and net of immaterial income taxes) Currency

Translation and Other Net Investment Hedges Cash Flow Hedges Minimum

Liability Total

Translation and Other Net Investment Hedges Cash Flow Hedges Minimum Pension Liability Total

Balances as of February 1, 2023 $ ( 10,816 ) $ 94 $ ( 951 ) $ ( 7 ) $ ( 11,680 )

2 unchanged sentences

Balances as of April 30, 2023 $ ( 10,216 ) $ 94 $ ( 1,020 ) $ ( 5 ) $ ( 11,147 )

Other comprehensive income (loss) before reclassifications, net 195 — 115 ( 1 ) 309

Reclassifications to income, net — — 20 — 20

Balances as of July 31, 2023 $ ( 10,021 ) $ 94 $ ( 885 ) $ ( 6 ) $ ( 10,818 )

(Amounts in millions and net of immaterial income taxes) Currency

Translation and Other Net Investment Hedges Cash Flow Hedges Minimum

Liability Total

Translation and Other Net Investment Hedges Cash Flow Hedges Minimum Pension Liability Total

Balances as of February 1, 2022 $ ( 8,100 ) $ 94 $ ( 748 ) $ ( 12 ) $ ( 8,766 )

2 unchanged sentences

Balances as of April 30, 2022 $ ( 7,875 ) $ 94 $ ( 706 ) $ ( 11 ) $ ( 8,498 )

Other comprehensive income (loss) before reclassifications, net ( 796 ) — ( 622 ) 2 ( 1,416 )

Reclassifications to income, net ( 309 ) — 329 — 20

Balances as of July 31, 2022 $ ( 8,980 ) $ 94 $ ( 999 ) $ ( 9 ) $ ( 9,894 )

Amounts reclassified from accumulated other comprehensive loss for derivative instruments are generally recorded in interest, net, in the Company's Condensed Consolidated Statements of Income.

Amounts for the minimum pension liability are recorded in other gains and losses in the Company's Condensed Consolidated Statements of Income.

Amounts for the minimum pension liability and currency translation are recorded in other gains and losses in the Company's Condensed Consolidated Statements of Income.

Short-term Borrowings and Long-term Debt

3 unchanged sentences

In total, the Company had committed lines of credit in the U.S.

of $ 15.0 billion at April 30, 2023 and January 31, 2023, all undrawn.

The following table provides the changes in the Company's long-term debt for the three months ended April 30, 2023:

of $ 15.0 billion at July 31, 2023 and January 31, 2023, all undrawn.

The following table provides the changes in the Company's long-term debt for the six months ended July 31, 2023:

(Amounts in millions) Long-term debt due within one year Long-term debt Total

5 unchanged sentences

Other ( 4 ) ( 37 ) ( 41 )

Balances as of April 30, 2023 $ 3,975 $ 38,120 $ 42,095

Balances as of July 31, 2023 $ 2,897 $ 36,806 $ 39,703

(1) Proceeds from issuance of long-term debt are net of deferred loan costs and any related discount or premium.

Debt Issuances

Information on significant long-term debt issued during the three months ended April 30, 2023, for general corporate purposes, is as follows:

Information on significant long-term debt issued during the six months ended July 31, 2023, for general corporate purposes, is as follows:

(Amounts in millions)

9 unchanged sentences

Debt Repayments

Information on significant long-term debt repayments during the three months ended April 30, 2023 is as follows:

Information on significant long-term debt repayments during the six months ended July 31, 2023 is as follows:

(Amounts in millions)

2 unchanged sentences

April 11, 2023 $ 1,750 Fixed 2.55 % $ 1,750

June 26, 2023 $ 2,280 Fixed 3.40 % $ 2,280

Total $ 4,030

Fair Value Measurements

6 unchanged sentences

The fair value of these investments is as follows:

(Amounts in millions) Fair Value as of April 30, 2023 Fair Value as of January 31, 2023

(Amounts in millions) Fair Value as of July 31, 2023 Fair Value as of January 31, 2023

Equity investments measured using Level 1 inputs $ 4,424 $ 5,099

2 unchanged sentences

Changes in fair value of equity securities, as well as certain immaterial equity method investments where the Company has elected the fair value option measured on a recurring basis, are recognized within other gains and losses in the Condensed Consolidated Statements of Income.

These fair value changes, along with certain other immaterial investment activity, resulted in net losses of $ 3.2 billion and $ 2.0 billion for three months ended April 30, 2023 and 2022, respectively, primarily due to net changes in the underlying stock prices of those investments.

These fair value changes, along with certain other immaterial investment activity, resulted in net gains of $ 3.2 billion and $ 36 million for the three and six months ended July 31, 2023, respectively, and a net gain of $ 0.8 billion and a net loss of $ 1.2 billion for the three and six months ended July 31, 2022, respectively.

These fair value changes were primarily due to net changes in the underlying stock prices of those investments.

Equity investments without readily determinable fair values are carried at cost and adjusted for any observable price changes or impairments within other gains and losses in the Condensed Consolidated Statements of Income.

2 unchanged sentences

The fair values have been measured using the income approach and Level 2 inputs, which include the relevant interest rate and foreign currency forward curves.

As of April 30, 2023 and January 31, 2023, the notional amounts and fair values of these derivatives were as follows:

April 30, 2023 January 31, 2023

As of July 31, 2023 and January 31, 2023, the notional amounts and fair values of these derivatives were as follows:

July 31, 2023 January 31, 2023

(Amounts in millions) Notional Amount Fair Value Notional Amount Fair Value

8 unchanged sentences

Generally, assets are recorded at fair value on a nonrecurring basis as a result of impairment charges.

The Company did not have any material assets or liabilities resulting in nonrecurring fair value measurements as of April 30, 2023 in the Company's Condensed Consolidated Balance Sheets.

The Company did not have any material assets or liabilities resulting in nonrecurring fair value measurements as of July 31, 2023 in the Company's Condensed Consolidated Balance Sheets.

Other Fair Value Disclosures

3 unchanged sentences

The fair value is estimated using Level 2 inputs based on the Company's current incremental borrowing rate for similar types of borrowing arrangements.

The carrying value and fair value of the Company's long-term debt as of April 30, 2023 and January 31, 2023, are as follows:

April 30, 2023 January 31, 2023

The carrying value and fair value of the Company's long-term debt as of July 31, 2023 and January 31, 2023, are as follows:

July 31, 2023 January 31, 2023

(Amounts in millions) Carrying Value Fair Value Carrying Value Fair Value

9 unchanged sentences

During fiscal 2023, the Company accrued a liability for approximately $ 3.3 billion for the Settlement Framework (described below) and other previously agreed upon state and tribal settlements.

Because loss contingencies are inherently unpredictable and unfavorable developments or resolutions can occur, the assessment is highly subjective and requires judgments about future events.

Moreover, the Settlement Framework will only take effect once a sufficient number of political subdivisions join, and there is no assurance regarding such participation.

The amount of ultimate loss may thus differ materially from this accrual.

The Settlement Framework includes no admission of wrongdoing or liability by the Company, and the Company continues to believe it has substantial factual and legal defenses to opioids-related litigation.

7 unchanged sentences

The Company has also been responding to subpoenas, information requests, and investigations from governmental entities related to nationwide controlled substance dispensing and distribution practices involving opioids.

On November 15, 2022, the Company announced it had agreed to financial amounts and payment terms to resolve substantially all opioids-related lawsuits filed against the Company by states, political subdivisions, and Native American tribes whether as part of the MDL (excluding, however, a single, two-county trial described further below) or pending state court, as well as all potential claims that could be made against the Company by states, political subdivisions, and Native American tribes for up to approximately $ 3.1 billion (the "Settlement Amount").

On November 15, 2022, the Company announced it had agreed to financial amounts and payment terms to resolve substantially all opioids-related lawsuits filed against the Company by states, political subdivisions, and Native American tribes whether as part of the MDL (excluding, however, a single, two-county trial described further below) or in state court, as well as all potential claims that could be made against the Company by states, political subdivisions, and Native American tribes for up to approximately $ 3.1 billion (the "Settlement Amount").

The Settlement Amount includes amounts for remediation of alleged harms as well as attorneys' fees and costs and also includes some, but not all, amounts from previously agreed recent settlements by the Company.

4 unchanged sentences

territories (the "Settling States"), thus satisfying the initial threshold of required participation by Settling States.

The settlement with the Settling States is now contingent upon, among other applicable terms and conditions, a sufficient number of political subdivisions also agreeing to participate in the Settlement Framework, which condition the Company believes will be satisfied.

The Settlement Framework will become effective 15 days following a settlement administrator's determination that this condition has been satisfied.

If the Settlement Framework becomes effective, then the Company will be required to deposit into an account up to the full portion of the Settlement Amount attributable to the Settling States within 15 days following the effective date of the Settlement Framework.

If all conditions for the Settlement Framework, including, but not limited to, the minimum participation thresholds applicable for the political subdivisions have been satisfied within the prescribed deadlines, then the Company would expect to pay up to the full portion of the Settlement Amount attributable to the Settling States, beginning as early as the second quarter of fiscal 2024 and being completed during fiscal 2024.

However, unless and until the settlement administrator has determined as such, the Company cannot predict if, when, or to what extent the Settlement Framework will be finalized with any of the Settling States.

Through May 2023, the Company has paid approximately $ 0.6 billion in the aggregate for separate settlements with Cherokee Nation, New Mexico, Florida, West Virginia, and Alabama, as well as various Native American tribes (excluding Cherokee Nation) that agreed to participate in the Settlement Framework or otherwise have their claims foreclosed within a prescribed deadline.

Of the original approximately $ 3.3 billion accrued liability for the Settlement Framework and other settlements, approximately $ 2.8 billion remains and is recorded in accrued liabilities within the Company's Condensed Consolidated Balance Sheet as of April 30, 2023.

On August 22, 2023, the settlement administrator determined that a sufficient number of political subdivisions had agreed to participate in the Settlement Framework, which was a necessary condition for the Settlement Framework to become effective.

The Settlement Framework will become effective 15 days later, on September 6, 2023.

The Company is required to deposit up to the full portion of the Settlement Amount attributable to the Settling States within 15 days following the effective date of the Settlement Framework, which the Company expects to pay during the fiscal quarter ending October 31, 2023.

Although the settlement administrator has determined a sufficient number of political subdivisions have agreed to participate in the State Settlement Framework, and thus the State Settlement Framework will become effective, eligible political subdivisions still have until July 15, 2025 to join the State Settlement Framework.

Through July 2023, the Company has paid approximately $ 0.6 billion in the aggregate for separate settlements with Cherokee Nation, New Mexico, Florida, West Virginia, and Alabama, as well as various Native American tribes (excluding Cherokee Nation) that agreed to participate in the Settlement Framework or otherwise have their claims foreclosed within a prescribed deadline.

Other Opioid-Related Litigation

1 unchanged sentence

any other actions filed by healthcare providers, individuals, and third-party payers;

as well as any action filed by a political subdivision or Native American tribe that is not resolved by the Settlement Framework.

and any action filed by a political subdivision or Native American tribe that is not resolved by the Settlement Framework.

Accordingly, the Company has not accrued a liability for these opioid-related litigation matters nor can the Company reasonably estimate any loss or range of loss that may arise from these matters.

1 unchanged sentence

Two-County Trial and MDL Bellwethers;

The liability phase of a single, two-county trial in one of the MDL cases resulted in a jury verdict on November 23, 2021, finding in favor of the plaintiffs as to the liability of all defendants, including the Company.

The abatement phase of the single, two-county trial resulted in a judgment on August 17, 2022, that ordered all three defendants, including the Company, to pay an aggregate amount of approximately $ 0.7 billion over fifteen years , on a joint and several liability basis, and granted the plaintiffs injunctive relief.

1 unchanged sentence

The monetary aspect of the judgment is stayed pending appeal, and the injunctive aspect of the judgment went into effect on February 20, 2023.

The MDL has designated five additional single-county cases as bellwethers to proceed through discovery;

however, these five counties ultimately may elect to participate in the Settlement Framework and receive a portion of the Settlement Amount rather than go to trial.

The MDL designated five additional single-county cases as bellwethers to proceed through discovery;

however, these five counties have elected to participate in the Settlement Framework and receive a portion of the Settlement Amount rather than go to trial.

The MDL may designate additional bellwethers of cases brought by healthcare providers and third-party payers.

Wal-Mart Canada Corp.

and certain other subsidiaries of the Company have been named as defendants in two putative class action complaints filed in Canada related to dispensing and distribution practices involving opioids.

These matters remain pending.

DOJ Opioid Civil Litigation.

19 unchanged sentences

Those cases have been stayed pending developments in other opioids litigation matters.

On September 27, 2021, three shareholders filed a derivative action in the Delaware Court of Chancery alleging that certain members of the current Board and certain former officers breached their fiduciary duties in failing to adequately oversee the Company's prescription opioids business.

On September 27, 2021, three shareholders filed a derivative action in the Delaware Court of Chancery alleging that certain members of the current Board of Directors and certain former officers breached their fiduciary duties in failing to adequately oversee the Company's prescription opioids business.

The defendants moved to dismiss and/or to stay proceedings on December 21, 2021, and the plaintiffs responded by filing an amended complaint on February 22, 2022.

1 unchanged sentence

In two orders issued on April 12 and 26, 2023, the Court of Chancery granted the defendants' motion to dismiss with respect to claims involving the Company's distribution practices and denied the remainder of the motion, including the Company's request to stay the litigation.

On May 5, 2023, the Company's Board of Directors appointed an independent Special Litigation Committee (the "SLC") to investigate the allegations regarding certain current and former officers and directors named in the various derivative proceedings regarding oversight with respect to opioids.

On May 5, 2023, the Company's Board of Directors (the "Board") appointed an independent Special Litigation Committee (the "SLC") to investigate the allegations regarding certain current and former officers and directors named in the various derivative proceedings regarding oversight with respect to opioids.

The Board has authorized the SLC to retain independent legal counsel and such other advisors as the SLC deems appropriate in carrying out its duties.

The derivative matter pending in the Delaware Court of Chancery is stayed until the SLC completes its investigation.

Other Legal Proceedings

7 unchanged sentences

Money Transfer Agent Services Matters.

The Company has responded to grand jury subpoenas issued by the United States Attorney's Office for the Middle District of Pennsylvania on behalf of the DOJ seeking documents regarding the Company's consumer fraud prevention program and anti-money laundering compliance related to the Company's money transfer services, where Walmart is an agent.

where Walmart is an agent.

The most recent subpoena was issued in August 2020.

5 unchanged sentences

On October 5, 2022, the FTC responded to the motion, and on October 28, 2022, the Company filed its reply.

On March 27, 2023, the Court issued an opinion dismissing the FTC's claim under the Telemarketing Sales Rule and denying Walmart's motion to dismiss the claim under Section 5 of the FTC Act.

On March 27, 2023, the Court issued an opinion dismissing the FTC's claim under the Telemarketing Sales Rule and denying Walmart's motion to dismiss the claim under Section 5 of the Federal Trade Commission Act.

On April 12, 2023, Walmart filed a motion to certify the Court's March 27, 2023, order for interlocutory appeal.

The FTC's response to Walmart's motion to certify an interlocutory appeal was filed on May 8, 2023;

Walmart's reply was filed on May 18, 2023.

The FTC's amended complaint is due on June 30, 2023, subject to any further changes based upon the Court's ruling on the interlocutory appeal.

Walmart filed its reply on May 18, 2023.

On June 30, 2023, the FTC filed an amended complaint against Walmart again asserting claims under the Federal Trade Commission Act and Telemarketing Sales Rule.

Walmart's motion to dismiss the amended complaint was filed on August 11, 2023;

the FTC's response is due on September 15, 2023;

and Walmart's reply is due on October 9, 2023.

On July 20, 2023, the Court denied Walmart's motion to certify the Court's March 27, 2023, order for interlocutory appeal, finding that it would be more orderly to consider a request for interlocutory appeal after a ruling on Walmart's motion to dismiss the amended complaint.

The Company intends to vigorously defend these matters.

17 unchanged sentences

Net sales by segment are as follows:

Three Months Ended April 30,

Three Months Ended July 31, Six Months Ended July 31,

(Amounts in millions)

2023 2022 2023 2022

$ 110,854 $ 105,130 $ 214,755 $ 202,034

Walmart International 27,596 24,350 54,200 48,113

2 unchanged sentences

Operating income by segment, as well as unallocated operating expenses for corporate and support, interest, net, and other gains and losses are as follows:

Three Months Ended April 30,

Three Months Ended July 31, Six Months Ended July 31,

(Amounts in millions)

2023 2022 2023 2022

Operating income (loss):

12 unchanged sentences

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) Three Months Ended April 30,

(Amounts in millions) Three Months Ended July 31, Six Months Ended July 31,

net sales by merchandise category 2023 2022 2023 2022

4 unchanged sentences

Total $ 110,854 $ 105,130 $ 214,755 $ 202,034

Of Walmart U.S.'s total net sales, approximately $ 14.5 billion and $ 11.4 billion related to eCommerce for the three months ended April 30, 2023 and 2022, respectively.

(Amounts in millions) Three Months Ended April 30,

Of Walmart U.S.'s total net sales, approximately $ 15.5 billion and $ 12.5 billion related to eCommerce for the three months ended July 31, 2023 and 2022, respectively, and approximately $ 30.0 billion and $ 23.9 billion related to eCommerce for the six months ended July 31, 2023 and 2022, respectively.

(Amounts in millions) Three Months Ended July 31, Six Months Ended July 31,

Walmart International net sales by market 2023 2022 2023 2022

4 unchanged sentences

Total $ 27,596 $ 24,350 $ 54,200 $ 48,113

Of Walmart International's total net sales, approximately $ 5.4 billion and $ 4.3 billion related to eCommerce for the three months ended April 30, 2023 and 2022, respectively.

(Amounts in millions) Three Months Ended April 30,

Of Walmart International's total net sales, approximately $ 5.8 billion and $ 4.6 billion related to eCommerce for the three months ended July 31, 2023 and 2022, respectively, and approximately $ 11.2 billion and $ 8.9 billion related to eCommerce for the six months ended July 31, 2023 and 2022, respectively.

(Amounts in millions) Three Months Ended July 31, Six Months Ended July 31,

Sam's Club net sales by merchandise category 2023 2022 2023 2022

5 unchanged sentences

Total $ 21,830 $ 21,901 $ 42,329 $ 41,522

Of Sam's Club's total net sales, approximately $ 2.2 billion and $ 1.9 billion related to eCommerce for the three months ended April 30, 2023 and 2022, respectively.

Of Sam's Club's total net sales, approximately $ 2.4 billion and $ 2.1 billion related to eCommerce for the three months ended July 31, 2023 and 2022, respectively , and approximately $ 4.7 billion and $ 3.9 billion related to eCommerce for the six months ended July 31, 2023 and 2022, respectively.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements