STATEMENT REGARDING COMPUTATION OF THE EARNINGS TO FIXED CHARGES RATIOS
Published on March 26, 2013
Exhibit 12
Wal-Mart Stores, Inc.
Ratio of Earnings to Fixed Charges
Fiscal Years Ended January 31, |
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(Dollar amounts in millions) |
2013 |
2012 |
2011 |
2010 |
2009 |
||||||||||||||
Income from continuing operations before income taxes |
$ |
25,737 |
$ |
24,398 |
$ |
23,538 |
$ |
22,118 |
$ |
20,867 |
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Capitalized interest |
(74 |
) |
(60 |
) |
(63 |
) |
(85 |
) |
(88 |
) |
|||||||||
Consolidated net income attributable to the noncontrolling interest |
(757 |
) |
(688 |
) |
(604 |
) |
(513 |
) |
(499 |
) |
|||||||||
Adjusted income from continuing operations before income taxes |
$ |
24,906 |
$ |
23,650 |
$ |
22,871 |
$ |
21,520 |
$ |
20,280 |
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Fixed charges: |
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Interest(1)
|
$ |
2,325 |
$ |
2,382 |
$ |
2,268 |
$ |
2,160 |
$ |
2,267 |
|||||||||
Interest component of rent |
859 |
790 |
651 |
597 |
406 |
||||||||||||||
Total fixed charges |
3,184 |
3,172 |
2,919 |
2,757 |
2,673 |
||||||||||||||
Income from continuing operations before income taxes and fixed charges |
$ |
28,090 |
$ |
26,822 |
$ |
25,790 |
$ |
24,277 |
$ |
22,953 |
|||||||||
Ratio of earnings to fixed charges |
8.8 |
8.5 |
8.8 |
8.8 |
8.6 |
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(1) |
Includes interest on debt and capital leases, amortization of debt issuance costs and capitalized interest. |