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Segments and Disaggregated Revenue
 12 Months Ended
Jan. 31, 2025
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 and mobile applications, located throughout the U.S., Africa, Canada, Central America, Chile, China, India and Mexico. The Company's operations are conducted in three reportable segments: Walmart U.S., Walmart International and Sam's Club U.S. The Company defines its segments as those operations whose results the chief operating decision maker ("CODM"), the Company's Chief Executive Officer, 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 revenues for each of these individual products and services.
The Walmart U.S. segment includes the Company's mass merchandising concept in the U.S., as well as eCommerce, which includes omni-channel initiatives and certain other business offerings such as advertising services. 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 U.S. segment includes the warehouse membership clubs in the U.S., as well as samsclub.com 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 profit or loss of its segments using operating income. The CODM uses operating income to allocate resources across the reportable segments as part of the Company's long-range and annual planning processes, and to evaluate planned versus actual results when assessing segment operating performance. From time to time, the Company may revise the measurement of each segment's operating income, including any corporate overhead allocations, and presentation of significant segment expenses, as determined by the information regularly reviewed by its CODM. The operating results of each reportable segment, including the mix of cost of sales and operating, selling, general and administrative expenses, are not directly comparable due to differences in business model, format and channel mix. Additionally, the operating results of each reportable segment may not be comparable to those of other retailers, as discussed in Note 1. 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:
Fiscal Years Ended January 31,
(Amounts in millions)
202520242023
Walmart U.S.
Net sales$462,415 $441,817 $420,553 
Membership and other income
2,594 1,985 1,845 
Total revenues
465,009 443,802 422,398 
Cost of sales336,451 323,563 308,805 
Operating, selling, general and administrative expenses104,676 98,085 92,973 
Operating income$23,882 $22,154 $20,620 
Walmart International
Net sales$121,885 $114,641 $100,983 
Membership and other income
1,478 1,408 1,621 
Total revenues
123,363 116,049 102,604 
Cost of sales95,267 89,831 79,332 
Operating, selling, general and administrative expenses22,595 21,309 20,307 
Operating income$5,501 $4,909 $2,965 
Sam's Club U.S.(1)
Net sales$90,238 $86,179 $84,345 
Membership and other income
2,323 2,051 1,908 
Total revenues
92,561 88,230 86,253 
Cost of sales80,035 76,748 75,584 
Operating, selling, general and administrative expenses10,122 9,290 8,705 
Operating income$2,404 $2,192 $1,964 
Corporate and support
Membership and other income(2)
$52 $44 $34 
Operating, selling, general and administrative expenses2,491 2,287 5,155 
Operating loss$(2,439)$(2,243)$(5,121)
Consolidated
Net sales$674,538 $642,637 $605,881 
Membership and other income
6,447 5,488 5,408 
Total revenues
680,985 648,125 611,289 
Cost of sales511,753 490,142 463,721 
Operating, selling, general and administrative expenses139,884 130,971 127,140 
Operating income29,348 27,012 20,428 
Interest, net2,245 2,137 1,874 
Other (gains) and losses
794 3,027 1,538 
Income before income taxes$26,309 $21,848 $17,016 
(1) Total fuel-related expenses for Sam's Club U.S. were $9.9 billion, $10.6 billion, and $12.1 billion in fiscal 2025, fiscal 2024, and fiscal 2023 respectively.
(2) Includes other income from corporate campus facilities.
Total assets, depreciation and amortization, and capital expenditures for the Company's segments, as well as for Corporate and support, are as follows:
Fiscal Years Ended January 31,
(Amounts in millions)
202520242023
Walmart U.S.
Total assets$150,006 $137,782 $130,659 
Depreciation and amortization8,549 7,671 7,054 
Capital expenditures16,466 13,877 11,425 
Walmart International
Total assets$80,016 $86,136 $86,766 
Depreciation and amortization2,260 2,159 1,964 
Capital expenditures3,178 2,911 2,625 
Sam's Club U.S.
Total assets$16,862 $15,682 $15,490 
Depreciation and amortization706 642 609 
Capital expenditures1,212 1,041 727 
Corporate
Total assets$13,939 $12,799 $10,282 
Depreciation and amortization1,458 1,381 1,318 
Capital expenditures2,927 2,777 2,080 
Consolidated
Total assets$260,823 $252,399 $243,197 
Depreciation and amortization12,973 11,853 10,945 
Capital expenditures23,783 20,606 16,857 
Total revenues and long-lived assets, consisting primarily of net property and equipment and lease right-of-use assets, aggregated by the Company's U.S. and non-U.S. operations, are as follows:
Fiscal Years Ended January 31,
(Amounts in millions)202520242023
Revenues
U.S. operations$557,622 $532,076 $508,685 
Non-U.S. operations123,363 116,049 102,604 
Total revenues$680,985 $648,125 $611,289 
Long-lived assets
U.S. operations$115,250 $104,480 $95,567 
Non-U.S. operations24,455 25,858 23,667 
Total long-lived assets$139,705 $130,338 $119,234 
No individual country outside of the U.S. had total revenues or long-lived assets that were material to the consolidated totals. 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. Net sales related to eCommerce include omni-channel sales where a customer initiates an order digitally and the order is fulfilled through a store or club, as well as net sales from other business offerings that are part of the Company's ecosystem such as certain advertising arrangements, fulfillment services, and data insights. From time to time, the Company revises the assignment of net sales of a particular item to a merchandise category. When the assignment changes, previous period amounts are reclassified to be comparable to the current period's presentation.
(Amounts in millions)Fiscal Years Ended January 31,
Walmart U.S. net sales by merchandise category202520242023
Grocery$276,003 $264,210 $247,299 
General merchandise113,921 113,985 118,597 
Health and wellness62,092 54,898 46,591 
Other
10,399 8,724 8,066 
Total$462,415 $441,817 $420,553 
Of Walmart U.S.'s total net sales, approximately $79.3 billion, $65.4 billion and $53.4 billion related to eCommerce for fiscal 2025, 2024 and 2023, respectively.
(Amounts in millions)Fiscal Years Ended January 31,
Walmart International net sales by market202520242023
Mexico and Central America$51,970 $49,726 $40,496 
Canada23,035 22,639 22,300 
China19,975 17,011 14,711 
Other26,905 25,265 23,476 
Total$121,885 $114,641 $100,983 
Of Walmart International's total net sales, approximately $29.5 billion, $24.8 billion and $20.3 billion related to eCommerce for fiscal 2025, 2024 and 2023, respectively.
(Amounts in millions)Fiscal Years Ended January 31,
Sam's Club U.S. net sales by merchandise category
202520242023
Grocery$59,976 $56,455 $53,055 
Fuel and other12,924 13,678 15,385 
General merchandise11,249 11,041 11,669 
Health and wellness6,089 5,005 4,236 
Total$90,238 $86,179 $84,345 
Of Sam's Club U.S.'s total net sales, approximately $12.1 billion, $9.9 billion and $8.4 billion related to eCommerce for fiscal 2025, 2024 and 2023, respectively.