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v3.25.2

Segments and Disaggregated Revenue (Tables) | 6 Months Ended
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Jul. 31, 2025
Disaggregation of Revenue [Line Items] |
Segment revenues and assets | Information for the Company's segments, as well as for Corporate and support, including the reconciliation to income before income taxes, is provided as follows:
|  | Three Months Ended July 31, |  | Six Months Ended July 31, |  |  |
(Amounts in millions) |  | 2025 |  | 2024 |  | 2025 |  | 2024 |  |  |
Walmart U.S. |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 120,911 |  |  | $ | 115,347 |  |  | $ | 233,074 |  |  | $ | 224,017 |  |  |  |
Membership and other income |  | 649 |  | 604 |  | 1,285 |  | 1,217 |  |  |
Total revenues |  | 121,560 |  | 115,951 |  | 234,359 |  | 225,234 |  |  |
Cost of sales |  | 87,237 |  | 83,520 |  | 168,589 |  | 162,615 |  |  |
Operating, selling, general and administrative expenses |  | 27,603 |  | 25,840 |  | 53,345 |  | 50,696 |  |  |
Operating income |  | $ | 6,720 |  |  | $ | 6,591 |  |  | $ | 12,425 |  |  | $ | 11,923 |  |  |  |
Walmart International |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 31,201 |  |  | $ | 29,567 |  |  | $ | 60,955 |  |  | $ | 59,400 |  |  |  |
Membership and other income |  | 381 |  | 371 |  | 760 |  | 755 |  |  |
Total revenues |  | 31,582 |  | 29,938 |  | 61,715 |  | 60,155 |  |  |
Cost of sales |  | 24,472 |  | 22,952 |  | 47,936 |  | 46,280 |  |  |
Operating, selling, general and administrative expenses |  | 5,883 |  | 5,626 |  | 11,288 |  | 10,982 |  |  |
Operating income |  | $ | 1,227 |  |  | $ | 1,360 |  |  | $ | 2,491 |  |  | $ | 2,893 |  |  |  |
Sam's Club U.S.(1) |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 23,638 |  |  | $ | 22,853 |  |  | $ | 45,702 |  |  | $ | 44,288 |  |  |  |
Membership and other income |  | 617 |  | 579 |  | 1,224 |  | 1,140 |  |  |
Total revenues |  | 24,255 |  | 23,432 |  | 46,926 |  | 45,428 |  |  |
Cost of sales |  | 21,062 |  | 20,338 |  | 40,549 |  | 39,346 |  |  |
Operating, selling, general and administrative expenses |  | 2,704 |  | 2,513 |  | 5,202 |  | 4,886 |  |  |
Operating income |  | $ | 489 |  |  | $ | 581 |  |  | $ | 1,175 |  |  | $ | 1,196 |  |  |  |
Corporate and support |  |  |  |  |  |  |  |  |  |  |
Membership and other income(2) |  | $ | 5 |  |  | $ | 14 |  |  | $ | 11 |  |  | $ | 26 |  |  |  |
Operating, selling, general and administrative expenses |  | 1,155 |  | 606 |  | 1,681 |  | 1,257 |  |  |
Operating loss |  | $ | (1,150) |  |  | $ | (592) |  |  | $ | (1,670) |  |  | $ | (1,231) |  |  |  |
Consolidated |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 175,750 |  |  | $ | 167,767 |  |  | $ | 339,731 |  |  | $ | 327,705 |  |  |  |
Membership and other income |  | 1,652 |  | 1,568 |  | 3,280 |  | 3,138 |  |  |
Total revenues |  | 177,402 |  | 169,335 |  | 343,011 |  | 330,843 |  |  |
Cost of sales |  | 132,771 |  | 126,810 |  | 257,074 |  | 248,241 |  |  |
Operating, selling, general and administrative expenses |  | 37,345 |  | 34,585 |  | 71,516 |  | 67,821 |  |  |
Operating income |  | 7,286 |  | 7,940 |  | 14,421 |  | 14,781 |  |  |
Interest, net |  | 675 |  |  | 565 |  |  | 1,219 |  |  | 1,165 |  |  |  |
Other (gains) and losses |  | (2,708) |  |  | 1,162 |  |  | (2,111) |  |  | 368 |  |  |  |
Income before income taxes |  | $ | 9,319 |  |  | $ | 6,213 |  |  | $ | 15,313 |  |  | $ | 13,248 |  |  |  |
(1) Total fuel-related cost of sales and operating, selling, general and administrative expenses for Sam's Club U.S. were $2.3 billion and $2.7 billion for the three months ended July 31, 2025 and 2024, respectively, and $4.5 billion and $5.3 billion for the six months ended July 31, 2025 and 2024, respectively. (2) Includes other income from corporate campus facilities. Depreciation and amortization and capital expenditures for the Company's segments, as well as for Corporate and support, are as follows:
|  | Three Months Ended July 31, |  | Six Months Ended July 31,
(Amounts in millions) |  | 2025 |  | 2024 |  | 2025 |  | 2024
Walmart U.S. |  |  |  |  |  |  |  |
Depreciation and amortization |  | $ | 2,299 |  |  | $ | 2,110 |  |  | $ | 4,539 |  |  | $ | 4,152 |
Capital expenditures |  | 4,775 |  | 4,026 |  | 8,547 |  | 7,573
Walmart International |  |  |  |  |  |  |  |
Depreciation and amortization |  | $ | 572 |  |  | $ | 562 |  |  | $ | 1,121 |  |  | $ | 1,131 |
Capital expenditures |  | 746 |  | 754 |  | 1,227 |  | 1,215
Sam's Club U.S. |  |  |  |  |  |  |  |
Depreciation and amortization |  | $ | 195 |  |  | $ | 171 |  |  | $ | 384 |  |  | $ | 338 |
Capital expenditures |  | 194 |  | 294 |  | 338 |  | 446
Corporate and support |  |  |  |  |  |  |  |
Depreciation and amortization |  | $ | 421 |  |  | $ | 368 |  |  | $ | 812 |  |  | $ | 718 |
Capital expenditures |  | 708 |  | 757 |  | 1,297 |  | 1,273
Consolidated |  |  |  |  |  |  |  |
Depreciation and amortization |  | $ | 3,487 |  |  | $ | 3,211 |  |  | $ | 6,856 |  |  | $ | 6,339 |
Capital expenditures |  | 6,423 |  | 5,831 |  | 11,409 |  | 10,507
Total assets for the Company's segments, as well as for Corporate and support, are as follows:
|  | July 31, |  | January 31, |  |  |  |  |  |
(Amounts in millions) |  | 2025 |  | 2025 |  |  |  |  |  |
Assets by segment |  |  |  |  |  |  |  |  |  |
Walmart U.S. |  | $ | 156,366 |  |  | $ | 150,006 |  |  |  |  |  |  |
Walmart International |  | 82,830 |  |  | 80,016 |  |  |  |  |  |  |
Sam's Club U.S. |  | 16,831 |  |  | 16,862 |  |  |  |  |  |  |
Corporate and support |  | 14,810 |  |  | 13,939 |  |  |  |  |  |  |
Total assets |  | $ | 270,837 |  |  | $ | 260,823 |  |  |  |  |  |  |
Walmart U.S. |
Disaggregation of Revenue [Line Items] |
Revenue by merchandise category or by market |
(Amounts in millions) |  | Three Months Ended July 31, |  | Six Months Ended July 31,
Walmart U.S. net sales by merchandise category |  | 2025 |  | 2024 |  | 2025 |  | 2024
Grocery |  | $ | 71,092 |  |  | $ | 68,680 |  |  | $ | 138,923 |  |  | $ | 135,111 |
General merchandise |  | 29,458 |  |  | 28,980 |  |  | 54,734 |  |  | 54,691 |
Health and wellness |  | 17,248 |  |  | 15,030 |  |  | 33,492 |  |  | 29,279 |
Other categories |  | 3,113 |  |  | 2,657 |  |  | 5,925 |  |  | 4,936 |
Total |  | $ | 120,911 |  |  | $ | 115,347 |  |  | $ | 233,074 |  |  | $ | 224,017 |
Walmart International |
Disaggregation of Revenue [Line Items] |
Revenue by merchandise category or by market |
(Amounts in millions) |  | Three Months Ended July 31, |  | Six Months Ended July 31,
Walmart International net sales by market |  | 2025 |  | 2024 |  | 2025 |  | 2024
Mexico and Central America |  | $ | 12,546 |  |  | $ | 13,099 |  |  | $ | 24,260 |  |  | $ | 26,331 |
China |  | 5,786 |  |  | 4,440 |  |  | 12,365 |  |  | 9,883 |
Canada |  | 6,114 |  |  | 5,891 |  |  | 11,259 |  |  | 11,219 |
Other |  | 6,755 |  |  | 6,137 |  |  | 13,071 |  |  | 11,967 |
Total |  | $ | 31,201 |  |  | $ | 29,567 |  |  | $ | 60,955 |  |  | $ | 59,400 |
Sam's Club U.S. |
Disaggregation of Revenue [Line Items] |
Revenue by merchandise category or by market |
(Amounts in millions) |  | Three Months Ended July 31, |  | Six Months Ended July 31,
Sam's Club U.S. net sales by merchandise category |  | 2025 |  | 2024 |  | 2025 |  | 2024
Grocery |  | $ | 16,417 |  |  | $ | 15,315 |  |  | $ | 31,860 |  |  | $ | 29,889 |
Fuel and other |  | 3,064 |  |  | 3,522 |  |  | 5,915 |  |  | 6,856 |
General merchandise |  | 2,877 |  |  | 2,850 |  |  | 5,413 |  |  | 5,327 |
Health and wellness |  | 1,280 |  |  | 1,166 |  |  | 2,514 |  |  | 2,216 |
Total |  | $ | 23,638 |  |  | $ | 22,853 |  |  | $ | 45,702 |  |  | $ | 44,288 |

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