Exhibit 12.2

WAL-MART STORES, INC. AND SUBSIDIARIES

Ratio of Adjusted Cash Flow from Operations to Adjusted Average Debt

Adjusted cash flow from operations as the numerator is defined as cash flow from operations of continuing operations for the current year plus two−thirds of the current year operating rent expense less current year capitalized interest expense. Adjusted average debt as the denominator is defined as average debt plus eight times average operating rent expense. Average debt is the simple average of beginning and ending commercial paper, long−term debt due within one year, obligations under capital leases due in one year, long−term debt, and long−term obligations under capital leases. Average operating rent expense is the simple average of current year and prior year operating rent expense. We believe this metric is useful to investors as it provides them with a tool to measure our leverage. Ratios as of October 31, 2007 and January 31, 2007 are calculated as follows:

		Twelve Months Ended				Fiscal Year Ended
Amounts in millions except for the calculated ratio		October 31, 2007				January 31, 2007
Cash flows from operating activities of continuing operations		$	19,519			$	20,209
+ Two-thirds current period operating rent expense (1)			1,039				961
− Current year capitalized interest expense			161				182
Numerator		$	20,397			$	20,988
Average debt (2)		$	44,486			$	38,874
Eight times average operating rent expense (3)			11,444				9,604
Denominator		$	55,930			$	48,478
Adjusted cash flow from operations to average debt (4)			36	%			43	%
Numerator
Cash flows from operating activities of continuing operations		$	19,519			$	20,209
Denominator
Average debt (2)		$	44,486			$	38,874
Cash flows from operating activities of continuing    operations to average debt			44	%			52	%
Selected Financial Information
Current period operating rent expense		$	1,559			$	1,441
Prior period operating rent expense			1,302				960
Current period capitalized interest			161				182
Certain Balance Sheet Information
		October 31, 2007				October 31, 2006
Commercial paper		$	9,126			$	7,968
Long-term debt due in one year			4,412				5,490
Obligations under capital leases due within one year			309				300
Long-term debt			30,070				24,154
Long-term obligations under capital leases			3,520				3,622
Total debt		$	47,437			$	41,534
		January 31, 2007				January 31, 2006
Commercial paper		$	2,570			$	3,754
Long-term debt due in one year			5,428				4,595
Obligations under capital leases due within one year			285				284
Long-term debt			27,222				26,429
Long-term obligations under capital leases			3,513				3,667
Total debt		$	39,018			$	38,729

(1)	2/3 X $1,559 for the trailing twelve months ending October 31, 2007 and 2/3 X $1,441 for the fiscal year 2007.

(2)	($47,437 + $41,534)/2 for the trailing twelve months ending October 31, 2007 and ($39,018 + $38,729)/2 for the fiscal year 2007.

(3)	8 X (($1,559 + $1,302)/2) for the trailing twelve months ending October 31, 2007 and 8 X (($1,441 + $960)/2) for the fiscal year 2007.

(4)	The calculation of the ratio as defined.

The most recognized directly comparable GAAP measure is the ratio of cash flow from operations of continuing operations for the current year to average total debt (which excludes any affect of operating leases or capitalized interest) and for which the trailing twelve months ending October 31, 2007 was 44% and the fiscal year 2007 was 52%.