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 July 31, 2007 and January 31, 2007 are calculated as follows:

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 July 31, 2007 was 47% and the fiscal year 2007 was 52%.