STATEMENT REGARDING COMPUTATION OF THE EARNINGS TO FIXED CHARGES RATIOS
Published on March 30, 2018
Exhibit 12.1
Walmart Inc.
Ratio of Earnings to Fixed Charges
January 31, |
|||||||||||||||||||
(Amounts in millions) |
2018 |
2017 |
2016 |
2015 |
2014 |
||||||||||||||
Income from continuing operations before income taxes |
$ |
15,123 |
$ |
20,497 |
$ |
21,638 |
$ |
24,799 |
$ |
24,656 |
|||||||||
Capitalized interest |
(17 |
) |
(36 |
) |
(39 |
) |
(59 |
) |
(78 |
) |
|||||||||
Consolidated net income attributable to the noncontrolling interest |
(661 |
) |
(650 |
) |
(386 |
) |
(736 |
) |
(673 |
) |
|||||||||
Adjusted income before income taxes |
14,445 |
19,811 |
21,213 |
24,004 |
23,905 |
||||||||||||||
Fixed charges: |
|||||||||||||||||||
Interest (1)
|
2,347 |
2,403 |
2,587 |
2,520 |
2,413 |
||||||||||||||
Interest component of rent |
890 |
862 |
836 |
916 |
933 |
||||||||||||||
Total fixed charges |
3,237 |
3,265 |
3,423 |
3,436 |
3,346 |
||||||||||||||
Income before income taxes and fixed charges |
$ |
17,682 |
$ |
23,076 |
$ |
24,636 |
$ |
27,440 |
$ |
27,251 |
|||||||||
Ratio of earnings to fixed charges |
5.5 |
7.1 |
7.2 |
8.0 |
8.1 |
||||||||||||||
(1) Includes interest on debt, capital leases and financing obligations, amortization of debt issuance costs and capitalized interest; excludes loss on extinguishment of debt.