v3.3.1.900
Taxes (Tables)
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12 Months Ended |
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Income Tax Disclosure [Abstract] |
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Schedule of income before income tax, domestic and foreign |
The components of income from continuing operations before income taxes are as follows: | | | | | | | | | | | | | | Fiscal Years Ended January 31, | (Amounts in millions) | 2016 | | 2015 | | 2014 | U.S. | $ | 16,685 |
| | $ | 18,610 |
| | $ | 19,412 |
| Non-U.S. | 4,953 |
| | 6,189 |
| | 5,244 |
| Total income from continuing operations before income taxes | $ | 21,638 |
| | $ | 24,799 |
| | $ | 24,656 |
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Schedule of components of income tax expense (benefit) |
A summary of the provision for income taxes is as follows: | | | | | | | | | | | | | | Fiscal Years Ended January 31, | (Amounts in millions) | 2016 | | 2015 | | 2014 | Current: | | | | | | U.S. federal | $ | 5,562 |
| | $ | 6,165 |
| | $ | 6,377 |
| U.S. state and local | 622 |
| | 810 |
| | 719 |
| International | 1,400 |
| | 1,529 |
| | 1,523 |
| Total current tax provision | 7,584 |
| | 8,504 |
| | 8,619 |
| Deferred: | | | | | | U.S. federal | (704 | ) | | (387 | ) | | (72 | ) | U.S. state and local | (106 | ) | | (55 | ) | | 37 |
| International | (216 | ) | | (77 | ) | | (479 | ) | Total deferred tax expense (benefit) | (1,026 | ) | | (519 | ) | | (514 | ) | Total provision for income taxes | $ | 6,558 |
| | $ | 7,985 |
| | $ | 8,105 |
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Schedule of effective income tax rate reconciliation |
A reconciliation of the significant differences between the U.S. statutory tax rate and the effective income tax rate on pretax income from continuing operations is as follows: | | | | | | | | | | | | | 2016 | | 2015 | | 2014 | U.S. statutory tax rate | 35.0 | % | | 35.0 | % | | 35.0 | % | U.S. state income taxes, net of federal income tax benefit | 1.8 | % | | 1.8 | % | | 2.0 | % | Income taxed outside the U.S. | (4.0 | )% | | (2.7 | )% | | (2.8 | )% | Net impact of repatriated international earnings | 0.1 | % | | (1.5 | )% | | (1.4 | )% | Other, net | (2.6 | )% | | (0.4 | )% | | 0.1 | % | Effective income tax rate | 30.3 | % | | 32.2 | % | | 32.9 | % |
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Schedule of deferred tax assets and liabilities |
The significant components of the Company's deferred tax account balances are as follows: | | | | | | | | | | | | January 31, | (Amounts in millions) | | 2016 | | 2015 | Deferred tax assets: | | | | | Loss and tax credit carryforwards | | $ | 3,313 |
| | $ | 3,255 |
| Accrued liabilities | | 3,763 |
| | 3,395 |
| Share-based compensation | | 192 |
| | 184 |
| Other | | 1,390 |
| | 1,119 |
| Total deferred tax assets | | 8,658 |
| | 7,953 |
| Valuation allowances | | (1,456 | ) | | (1,504 | ) | Deferred tax assets, net of valuation allowance | | 7,202 |
| | 6,449 |
| Deferred tax liabilities: | | | | | Property and equipment | | 5,813 |
| | 5,972 |
| Inventories | | 1,790 |
| | 1,825 |
| Other | | 1,452 |
| | 1,618 |
| Total deferred tax liabilities | | 9,055 |
| | 9,415 |
| Net deferred tax liabilities | | $ | 1,853 |
| | $ | 2,966 |
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Schedule of deferred taxes classification in consolidated balance sheets |
The deferred taxes are classified as follows in the Company's Consolidated Balance Sheets: | | | | | | | | | | | | January 31, | (Amounts in millions) | | 2016 | | 2015 | Balance Sheet classification: | | | | | Assets: | | | | | Prepaid expenses and other | | $ | — |
| | $ | 728 |
| Other assets and deferred charges | | 1,504 |
| | 1,033 |
| Asset subtotals | | 1,504 |
| | 1,761 |
| Liabilities: | | | | | Accrued liabilities | | — |
| | 56 |
| Deferred income taxes and other | | 3,357 |
| | 4,671 |
| Liability subtotals | | 3,357 |
| | 4,727 |
| Net deferred tax liabilities | | $ | 1,853 |
| | $ | 2,966 |
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Summary of income tax contingencies |
A reconciliation of unrecognized tax benefits from continuing operations was as follows: | | | | | | | | | | | | | | Fiscal Years Ended January 31, | (Amounts in millions) | 2016 | | 2015 | | 2014 | Unrecognized tax benefits, beginning of year | $ | 838 |
| | $ | 763 |
| | $ | 818 |
| Increases related to prior year tax positions | 164 |
| | 7 |
| | 41 |
| Decreases related to prior year tax positions | (446 | ) | | (17 | ) | | (112 | ) | Increases related to current year tax positions | 119 |
| | 174 |
| | 133 |
| Settlements during the period | (25 | ) | | (89 | ) | | (117 | ) | Lapse in statutes of limitations | (43 | ) | | — |
| | — |
| Unrecognized tax benefits, end of year | $ | 607 |
| | $ | 838 |
| | $ | 763 |
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X |
- DefinitionTabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.
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- DefinitionTabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.
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- DefinitionTabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.
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- DefinitionTabular disclosure of income before income tax between domestic and foreign jurisdictions.
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- DefinitionTabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.
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- DefinitionSchedule of Deferred Taxes Classification in Consolidated Balance Sheets [Text Block]
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