What changed in this filing

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Item 1. Financial Statements

2024-12-06 compared with 2024-08-30 · 115 added, 62 removed, 450 unchanged (28% of the section changed)

1 unchanged sentence

Condensed Consolidated Statements of Income

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

Three Months Ended October 31, Nine Months Ended October 31,

(Amounts in millions, except per share data) 2024 2023 2024 2023

25 unchanged sentences

Condensed Consolidated Statements of Comprehensive Income

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

Three Months Ended October 31, Nine Months Ended October 31,

(Amounts in millions) 2024 2023 2024 2023

10 unchanged sentences

Comprehensive (income) loss attributable to noncontrolling interest 40 ( 359 ) ( 187 ) ( 1,065 )

Comprehensive income attributable to Walmart $ 3,690 $ 8,220 $ 8,729 $ 10,426

Comprehensive income (loss) attributable to Walmart $ 4,230 $ ( 302 ) $ 12,959 $ 10,124

See accompanying notes.

Condensed Consolidated Balance Sheets

July 31, January 31, July 31,

October 31, January 31, October 31,

(Amounts in millions) 2024 2024 2023

62 unchanged sentences

Balances as of July 31, 2024 8,035 $ 803 $ 5,010 $ 90,788 $ ( 12,178 ) $ 84,423 $ 6,142 $ 90,565

Consolidated net income

— — — 4,577 — 4,577 155 4,732

Other comprehensive loss, net of income taxes

— — — — ( 347 ) ( 347 ) ( 177 ) ( 524 )

Purchase of Company stock ( 13 ) ( 1 ) ( 52 ) ( 927 ) — ( 980 ) — ( 980 )

Dividends to noncontrolling interest — — — — — — ( 5 ) ( 5 )

Sale of subsidiary stock — — 5 — — 5 1 6

Other 12 1 432 ( 3 ) — 430 52 482

Balances as of October 31, 2024 8,034 $ 803 $ 5,395 $ 94,435 $ ( 12,525 ) $ 88,108 $ 6,168 $ 94,276

See accompanying notes.

22 unchanged sentences

Balances as of July 31, 2023 8,076 $ 808 $ 4,096 $ 85,470 $ ( 10,818 ) $ 79,556 $ 5,771 $ 85,327

Consolidated net income

— — — 453 — 453 199 652

Other comprehensive (loss), net of income taxes

— — — — ( 755 ) ( 755 ) 169 ( 586 )

Purchase of Company stock ( 2 ) ( 1 ) ( 4 ) ( 92 ) — ( 97 ) — ( 97 )

Dividends to noncontrolling interest — — — — — — ( 4 ) ( 4 )

Sale of subsidiary stock — — 7 — — 7 3 10

Other 5 1 291 — — 292 ( 11 ) 281

Balances as of October 31, 2023 8,079 $ 808 $ 4,390 $ 85,831 $ ( 11,573 ) $ 79,456 $ 6,127 $ 85,583

See accompanying notes.

Condensed Consolidated Statements of Cash Flows

Six Months Ended July 31,

Nine Months Ended October 31,

(Amounts in millions) 2024 2023

15 unchanged sentences

Payments for property and equipment ( 16,696 ) ( 14,674 )

Proceeds from the disposal of property and equipment 292 133

Proceeds from disposal of property and equipment

Proceeds from disposal of certain operations 3 135

Proceeds from disposal of certain strategic investments

Other investing activities ( 139 ) ( 998 )

12 unchanged sentences

Effect of exchange rates on cash, cash equivalents and restricted cash ( 351 ) ( 7 )

Net increase (decrease) in cash, cash equivalents and restricted cash ( 1,056 ) 5,130

Net increase in cash, cash equivalents and restricted cash

Cash, cash equivalents and restricted cash at beginning of year 9,935 8,841

12 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 July 2024 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 October 2024 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.

20 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 $ 5.7 billion, $ 5.3 billion and $ 5.3 billion, as of July 31, 2024, January 31, 2024 and July 31, 2023, respectively.

The outstanding payment obligations to financial institutions under these programs were $ 6.8 billion, $ 5.3 billion and $ 6.1 billion, as of October 31, 2024, January 31, 2024 and October 31, 2023, respectively.

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

6 unchanged sentences

The amendments will be applied retrospectively to all prior periods presented in the financial statements.

Management is currently evaluating this ASU to determine its impact on the Company's disclosures.

Management expects the ASU to result in incremental expense disclosures for each of the Company's reportable segments.

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740):

2 unchanged sentences

Early adoption is permitted.

The amendments should be applied prospectively.

The amendments may be applied prospectively or retrospectively.

Management is currently evaluating this ASU to determine its impact on the Company's disclosures, and intends to apply the amendments prospectively upon adoption.

In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40):

Disaggregation of Income Statement Expenses , which requires incremental disclosures about specific expense categories, including but not limited to, purchases of inventory, employee compensation, depreciation, amortization and selling expenses.

The amendments are effective for fiscal years beginning after December 15, 2026, and for interim periods within fiscal years beginning after December 15, 2027.

Early adoption is permitted and the amendments may be applied either prospectively or retrospectively.

Management is currently evaluating this ASU to determine its impact on the Company's disclosures.

1 unchanged sentence

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 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 antidilutive and not included in the calculation of diluted net income per common share attributable to Walmart for the three and six months ended July 31, 2024 and 2023.

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 July 31, Six Months Ended July 31,

Three Months Ended October 31, Nine Months Ended October 31,

(Amounts in millions, except per share data) 2024 2023 2024 2023

20 unchanged sentences

Balances as of July 31, 2024 $ ( 11,321 ) $ ( 857 ) $ ( 12,178 )

Other comprehensive loss before reclassifications, net

( 346 ) ( 16 ) ( 362 )

Reclassifications to income, net 3 12 15

Balances as of October 31, 2024 $ ( 11,664 ) $ ( 861 ) $ ( 12,525 )

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

8 unchanged sentences

Balances as of July 31, 2023 $ ( 9,933 ) $ ( 885 ) $ ( 10,818 )

Other comprehensive loss before reclassifications, net

( 743 ) ( 29 ) ( 772 )

Reclassifications to income, net — 17 17

Balances as of October 31, 2023 $ ( 10,676 ) $ ( 897 ) $ ( 11,573 )

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.

5 unchanged sentences

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

of $ 15.0 billion at July 31, 2024 and January 31, 2024, all undrawn.

The following table provides the changes in the Company's long-term debt for the six months ended July 31, 2024:

of $ 15.0 billion at October 31, 2024 and January 31, 2024, all undrawn.

The following table provides the changes in the Company's long-term debt for the nine months ended October 31, 2024:

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

3 unchanged sentences

Other ( 9 ) 138 129

Balances as of July 31, 2024 $ 1,495 $ 35,364 $ 36,859

Balances as of October 31, 2024 $ 3,246 $ 33,645 $ 36,891

Debt Repayments

Information on significant long-term debt repayments during the six months ended July 31, 2024 is as follows:

Information on significant long-term debt repayments during the nine months ended October 31, 2024 is as follows:

(Amounts in millions)

14 unchanged sentences

The fair value of these investments is as follows:

(Amounts in millions) Fair Value as of July 31, 2024 Fair Value as of January 31, 2024

(Amounts in millions) Fair Value as of October 31, 2024 Fair Value as of January 31, 2024

Equity investments measured using Level 1 inputs $ 986 $ 2,835

1 unchanged sentence

Total $ 2,966 $ 7,249

Changes in the fair value of these investments were primarily due to gains and losses resulting from net changes in the underlying stock prices, along with certain other immaterial investment activity.

The fair value of these investments decreased $ 1.1 billion and $ 0.6 billion for the three and six months ended July 31, 2024, respectively, and increased $ 3.2 billion and $ 36 million for the three and six months ended July 31, 2023, respectively.

The fair value of these investments decreased $ 3.7 billion and $ 4.3 billion for the three and nine months ended October 31, 2024, respectively, primarily due to the sale of the Company's investment in JD.com in August 2024, as well as gains and losses resulting from net changes in the underlying stock prices of the remaining investments and certain other immaterial investment activity.

The fair value of these investments decreased $ 4.2 billion for both the three and nine months ended October 31, 2023, respectively, primarily due to gains and losses resulting from net changes in the underlying stock prices and certain other immaterial investment activity.

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.

Sale of Investment

In August 2024, the Company sold its investment in JD.com for net proceeds of approximately $ 3.6 billion and recorded a realized loss of $ 0.3 billion within other gains and losses in the Condensed Consolidated Statement of Income.

The Company also has derivatives recorded at fair value.

1 unchanged sentence

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 July 31, 2024 and January 31, 2024, the notional amounts and fair values of these derivatives were as follows:

July 31, 2024 January 31, 2024

As of October 31, 2024 and January 31, 2024, the notional amounts and fair values of these derivatives were as follows:

October 31, 2024 January 31, 2024

(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 July 31, 2024 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 October 31, 2024 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 observable prices of identical instruments in less active markets.

The carrying value and fair value of the Company's long-term debt as of July 31, 2024 and January 31, 2024, are as follows:

July 31, 2024 January 31, 2024

The carrying value and fair value of the Company's long-term debt as of October 31, 2024 and January 31, 2024, are as follows:

October 31, 2024 January 31, 2024

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

30 unchanged sentences

The monetary aspect of the judgment is stayed pending appeal, and the injunctive aspect of the judgment went into effect on February 20, 2023 and has not materially impacted the Company's operations.

On September 11, 2023, the Sixth Circuit Court of Appeals issued an order certifying certain questions in the appeal for review by the Supreme Court of Ohio.

On September 11, 2023, the Sixth Circuit Court of Appeals issued an order certifying

certain questions in the appeal for review by the Supreme Court of Ohio.

On November 29, 2023, the Supreme Court of Ohio accepted the request for certification, and the matter remains pending with the Court.

13 unchanged sentences

The DOJ is seeking civil penalties and injunctive relief.

On March 11, 2024, the Court granted in-part Walmart's motion to dismiss by dismissing the entirety of the DOJ's claims

related to distribution and dismissing the DOJ's claims arising under one of the DOJ's two dispensing liability theories.

On March 11, 2024, the Court granted in-part Walmart's motion to dismiss by dismissing the entirety of the DOJ's claims related to distribution and dismissing the DOJ's claims arising under one of the DOJ's two dispensing liability theories.

The DOJ's claims arising under its other dispensing liability theory remain pending.

Trial is scheduled for November 2027.

Opioid-Related Securities Class Actions and Derivative Litigation.

4 unchanged sentences

On April 29, 2024, the plaintiffs appealed to the Third Circuit Court of Appeals, where the matter remains pending.

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

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.

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 SLC's investigation is ongoing.

In addition, there are two other shareholder derivative actions pending in the U.S.

District Court for the District of Delaware that allege breach of fiduciary duties against certain of the Company's current and former directors with respect to oversight of the Company's distribution and dispensing of opioids and violations of the federal securities laws and other breaches of duty by certain current and former directors and officers in connection with the Company's opioids disclosures.

Those cases have been stayed pending developments in other opioid-related matters.

Three shareholders of the Company filed a derivative action in the Delaware Court of Chancery alleging that certain current and former directors and officers breached their fiduciary duties by failing to adequately oversee the Company's distribution and dispensing of prescription opioids.

This action is Ontario Provincial Council of Carpenters' Pension Trust Fund, et al.

Walton, et al.

, Delaware Court of Chancery, Case No.

2021-0827-JTL ("Ontario Action").

Other shareholders of the Company filed two derivative actions alleging that certain current and former directors and officers breached fiduciary duties and violated federal securities laws in connection with the Company's distribution and dispensing of prescription opioids.

These actions are Abt v.

Alvarez, et al.

District Court for the District of Delaware, Case No.

21-cv-00172-CFC and Nguyen v.

McMillon, et al.

District Court for the District of Delaware, Case No.

21-cv-00551-CFC (collectively with the Ontario Action, the "Derivative Actions").

On May 5, 2023, the Walmart Board of Directors adopted resolutions creating a special litigation committee ("SLC") to investigate, review, and analyze the facts and circumstances surrounding the claims and allegations in the Derivative Actions and determine whether the prosecution of such claims is in Walmart's best interest.

On October 18, 2024, the Company announced that the parties to the Ontario Action and the SLC entered into a settlement agreement, subject to court approval, that would resolve the Derivative Actions and release other potential derivative claims.

If the Delaware Court of Chancery approves the proposed settlement:

(i) insurance carriers would pay the Company $ 123 million, less any attorneys' fees and litigation expenses awarded by the Court to plaintiffs' counsel;

and (ii) the Company would maintain certain corporate governance practices for a period of at least five years .

The settlement does not include any admission of liability, and the defendants expressly deny any wrongdoing.

The Company has provided notice of the settlement to shareholders as directed by Court Order.

The Court has scheduled a hearing on December 20, 2024 to consider whether to approve the settlement.

If approved, the Company will record the net proceeds as a reduction to operating, selling, general, and administrative expense in the period realized.

False Claims Act Litigation.

6 unchanged sentences

The operative complaint is brought by two former pharmacists of the Company as relators and alleges the Company violated the Controlled Substances Act and state pharmacy regulations and that such conduct constitutes violations of the federal False Claims Act.

The Company filed a motion to dismiss on October 31, 2024.

Other Legal Proceedings

10 unchanged sentences

Walmart's responses to DOJ's subpoenas have been complete since 2021.

The Company continues to cooperate with and provide information and documents voluntarily in response to supplemental requests from the DOJ.

The Company continues to cooperate with the DOJ's review.

The Company has also responded to civil investigative demands from the United States Federal Trade Commission (the "FTC") in connection with the FTC's investigation related to money transfers and the Company's anti-fraud program in its capacity as an agent.

1 unchanged sentence

District Court for the Northern District of Illinois alleging that Walmart violated the Federal Trade Commission Act and the Telemarketing Sales Rule regarding its money transfer agent services and is requesting non-monetary relief and civil penalties.

On August 29, 2022, the Company filed a motion to dismiss the complaint.

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.

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.

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.

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

On July 3, 2024, the Court granted in part Walmart's motion to dismiss the amended complaint by dismissing with prejudice the claims under the Telemarketing Sales Rule.

claims for injunctive relief under Section 5 of the Federal Trade Commission Act remain pending.

On August 1, 2024, Walmart filed a motion to certify the July 3 order for interlocutory appeal.

On August 9, 2024, the FTC filed a motion seeking reconsideration of the July 3 order.

Following rulings on Walmart's motion to dismiss, the FTC filed an amended complaint on June 30, 2023.

On July 3, 2024, the Court granted in part Walmart's motion to dismiss the amended complaint by dismissing with prejudice the claims under the Telemarketing Sales Rule but denying the motion to dismiss with respect to claims for injunctive relief under Section 5 of the Federal Trade Commission Act.

On October 18, 2024, the Court certified its rulings on the motions to dismiss for interlocutory appeal and stayed discovery.

On October 28, 2024, Walmart filed a petition for interlocutory appeal with the Seventh Circuit Court of Appeals.

The petition for interlocutory appeal was granted on November 18, 2024.

The appeal will proceed on the merits.

The Company intends to vigorously defend these matters.

6 unchanged sentences

While COFECE has the authority to impose monetary relief and/or non-structural conduct measures, such relief and conduct measures would be subject to appeal by Walmex's subsidiary;

On December 14, 2023, Walmex's subsidiary submitted its defense arguments and will continue to defend against the allegations vigorously, both at the quasi-judicial administrative process and, if required, before any courts.

although any non-structural conduct measures would be required to be implemented pending any appeal.

On December 14, 2023, Walmex's subsidiary submitted its defense arguments.

On August 27, 2024, Walmex's subsidiary submitted its closing arguments and an oral hearing was held on September 30, 2024.

A resolution in this administrative stage is expected during the fourth quarter of fiscal 2025 and Walmex will continue to defend against the allegations vigorously if required, before any courts.

The Company can provide no assurance as to the scope and outcome of these matters, cannot reasonably estimate any loss or range of loss that may arise and can provide no assurance that its business, financial position, results of operations or cash flows will not be materially adversely affected.

5 unchanged sentences

Flipkart has been responding to the Notice and, if the matter progresses to a consideration of the merits of the allegations described in the Notice, Flipkart intends to defend against the allegations vigorously.

Due to the fact that the process regarding the Notice is in the early stages, the Company is unable to predict whether the Notice will lead to a hearing on the merits or, if it does, the final outcome of the resulting proceedings, as well as whether any further proceedings will arise with respect to the Requests.

The Company cannot reasonably estimate any loss or range of loss that may arise from these matters and can provide no assurance as to the scope or outcome of any proceeding that might result from the Notice or the Requests, the amount of the proceeds the Company may receive in indemnification from individuals and entities that sold shares to the Company under the 2018 agreement for the period prior to the date the Company acquired its majority stake in Flipkart, and further can provide no assurance that its business, financial position, results of operations or cash flows will not be materially adversely affected.

Due to the fact that the process regarding the Notice is in

the early stages, the Company is unable to predict whether the Notice will lead to a hearing on the merits or, if it does, the final outcome of the resulting proceedings, as well as whether any further proceedings will arise with respect to the Requests.

The Company cannot reasonably estimate any loss or range of loss that may arise from these matters and can provide no assurance as to the scope or outcome of any proceeding that might result from the Notice or the Requests, or the amount of the proceeds the Company may receive in indemnification from individuals and entities that sold shares to the Company under the 2018 agreement for the period prior to the date the Company acquired its majority stake in Flipkart, and further can provide no assurance that its business, financial position, results of operations or cash flows will not be materially adversely affected.

India Antitrust Matter.

On January 13, 2020, the Competition Commission of India ("CCI") ordered its Director General ("DG") to investigate certain matters alleging competition law violations by certain subsidiaries of Flipkart in India and other parties.

On September 13, 2024, those subsidiaries received a non-confidential version of the DG's Investigation Report ("Report"), alleging certain competition law violations.

CCI is not bound by the Report, and will conduct its independent analysis of the allegations, including hearing objections from the subsidiaries and other parties before issuing its final order in the matter, which could include monetary and non-monetary relief.

CCI's final order would also be subject to appropriate appellate proceedings.

The Company can provide no assurance as to the scope and outcome of this matter, cannot reasonably estimate any loss or range of loss that may arise, and can provide no assurance that its business, financial position, results of operations or cash flows will not be materially adversely affected.

Segments and Disaggregated Revenue

13 unchanged sentences

Net sales by segment are as follows:

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

Three Months Ended October 31, Nine Months Ended October 31,

(Amounts in millions)

5 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 July 31, Six Months Ended July 31,

Three Months Ended October 31, Nine Months Ended October 31,

(Amounts in millions)

15 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 July 31, Six Months Ended July 31,

(Amounts in millions) Three Months Ended October 31, Nine Months Ended October 31,

net sales by merchandise category 2024 2023 2024 2023

4 unchanged sentences

Total $ 114,875 $ 109,419 $ 338,892 $ 324,174

Of Walmart U.S.'s total net sales, approximately $ 18.9 billion and $ 15.5 billion related to eCommerce for the three months ended July 31, 2024 and 2023, respectively, and approximately $ 36.5 billion and $ 30.0 billion related to eCommerce for the six months ended July 31, 2024 and 2023, respectively.

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

Of Walmart U.S.'s total net sales, approximately $ 19.5 billion and $ 16.0 billion related to eCommerce for the three months ended October 31, 2024 and 2023, respectively, and approximately $ 56.0 billion and $ 46.0 billion related to eCommerce for the nine months ended October 31, 2024 and 2023, respectively.

(Amounts in millions) Three Months Ended October 31, Nine Months Ended October 31,

Walmart International net sales by market 2024 2023 2024 2023

4 unchanged sentences

Total $ 30,277 $ 28,022 $ 89,677 $ 82,222

Of Walmart International's total net sales, approximately $ 6.8 billion and $ 5.8 billion related to eCommerce for the three months ended July 31, 2024 and 2023, respectively, and approximately $ 13.2 billion and $ 11.2 billion related to eCommerce for the six months ended July 31, 2024 and 2023, respectively.

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

Of Walmart International's total net sales, approximately $ 8.1 billion and $ 5.7 billion related to eCommerce for the three months ended October 31, 2024 and 2023, respectively, and approximately $ 21.3 billion and $ 16.8 billion related to eCommerce for the nine months ended October 31, 2024 and 2023, respectively.

(Amounts in millions) Three Months Ended October 31, Nine Months Ended October 31,

Sam's Club net sales by merchandise category 2024 2023 2024 2023

5 unchanged sentences

Total $ 22,851 $ 21,998 $ 67,139 $ 64,327

Of Sam's Club's total net sales, approximately $ 3.0 billion and $ 2.4 billion related to eCommerce for the three months ended July 31, 2024 and 2023, respectively, and approximately $ 5.6 billion and $ 4.7 billion related to eCommerce for the six months ended July 31, 2024 and 2023, respectively.

Subsequent Event

The Company's Board of Directors approved the sale of its investment in JD.com, effective on August 20, 2024, with the securities being sold on the same day.

The Company will recognize a loss of $ 0.3 billion within other gains and losses in the Condensed Consolidated Statement of Income and a reduction of $ 3.8 billion within other long-term assets in the Condensed Consolidated Balance Sheets during the fiscal quarter ending October 31, 2024.

Of Sam's Club's total net sales, approximately $ 3.1 billion and $ 2.4 billion related to eCommerce for the three months ended October 31, 2024 and 2023, respectively, and approximately $ 8.7 billion and $ 7.1 billion related to eCommerce for the nine months ended October 31, 2024 and 2023, 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