RATIO OF EARNINGS TO FIXED CHARGES
Published on September 1, 2011
Exhibit 12.1
Wal-Mart Stores, Inc.
Ratio of Earnings to Fixed Charges
|
Six Months Ended July 31, |
Fiscal Year | |||||||||||||||||||||||||||
| (Dollar amounts in millions) | 2011 | 2010 | 2011 | 2010 | 2009 | 2008 | 2007 | |||||||||||||||||||||
| Income from continuing operations before income taxes |
$ | 11,183 | $ | 10,971 | $ | 23,538 | $ | 22,118 | $ | 20,867 | $ | 20,122 | $ | 19,023 | ||||||||||||||
| Capitalized interest |
(29 | ) | (36 | ) | (63 | ) | (85 | ) | (88 | ) | (150 | ) | (182 | ) | ||||||||||||||
| Consolidated net income attributable to the noncontrolling interest |
(287 | ) | (294 | ) | (604 | ) | (513 | ) | (499 | ) | (406 | ) | (425 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| Adjusted income from continuing operations before income taxes |
10,867 | 10,641 | 22,871 | 21,520 | 20,280 | 19,566 | 18,416 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| Fixed charges: |
||||||||||||||||||||||||||||
| Interest1 |
1,191 | 1,100 | 2,268 | 2,160 | 2,267 | 2,267 | 2,009 | |||||||||||||||||||||
| Interest component of rent |
354 | 308 | 651 | 597 | 406 | 464 | 368 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| Total fixed charges |
1,545 | 1,408 | 2,919 | 2,757 | 2,673 | 2,731 | 2,377 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| Income from continuing operations before income taxes and fixed charges |
$ | 12,412 | $ | 12,049 | $ | 25,790 | $ | 24,277 | $ | 22,953 | $ | 22,297 | $ | 20,793 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| Ratio of earnings to fixed charges (times) |
8.0 | 8.6 | 8.8 | 8.8 | 8.6 | 8.2 | 8.7 | |||||||||||||||||||||
| 1 | Includes interest on debt and capital leases, amortization of debt issuance costs and capitalized interest. |