Walmart Inc. - FORM 10-K - EX-12.1 - STATEMENT REGARDING COMPUTATION OF THE EARNINGS TO FIXED CHARGES RATIOS - March 31, 2017

Attached files

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EX-10.(G).1 - EXECUTIVE OFFICERS EXECUTING POST TERMINATION AGREEMENT - Walmart Inc.wmt10g11312017.htm
EX-10.(R) - FORM OF STOCK INCENTIVE PLAN - RESTRICTED STOCK AWARD - Walmart Inc.wmt10r1312017.htm
EX-32.2 - CHIEF FINANCIAL OFFICER SECTION 906 CERTIFICATION - Walmart Inc.wmt32213117.htm
EX-32.1 - CHIEF EXECUTIVE OFFICER SECTION 906 CERTIFICATION - Walmart Inc.wmt32113117.htm
EX-31.2 - CHIEF FINANCIAL OFFICER SECTION 302 CERTIFICATION - Walmart Inc.wmt31213117.htm
EX-31.1 - CHIEF EXECUTIVE OFFICER SECTION 302 CERTIFICATION - Walmart Inc.wmt31113117.htm
EX-23 - CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - Walmart Inc.wmt2313117.htm
EX-21 - LIST OF THE COMPANY'S SIGNIFICANT SUBSIDIARIES - Walmart Inc.wmt2113117.htm
EX-13 - PORTIONS OF OUR ANNUAL REPORT TO SHAREHOLDERS - Walmart Inc.wmtars-1312017.htm
EX-10.(X) - MARC LORE COVENANT NOT TO COMPETE - Walmart Inc.wmt10x1312017.htm
EX-10.(W) - AMENDMENT TO MARC LORE DEFERRED CONTINGENT MERGER CONSIDERATION AGREEMENT - Walmart Inc.wmt10w1312017.htm
EX-10.(V) - MARC LORE DEFERRED CONTINGENT MERGER CONSIDERATION AGREEMENT - Walmart Inc.wmt10v1312017.htm
EX-10.(T) - FORM OF STOCK INCENTIVE PLAN - GLOBAL SHARE-SETTLED PERFORMANCE UNIT AWARD - Walmart Inc.wmt10t1312017.htm
EX-10.(S) - FORM OF STOCK INCENTIVE PLAN - SHARE-SETTLED PERFORMANCE UNIT (D. CHEESEWRIGHT) - Walmart Inc.wmt10s1312017.htm
EX-10.(D) - AMENDED AND RESTATED STOCK INCENTIVE PLAN OF 2015 - Walmart Inc.wmt10d1312017.htm
10-K - FORM 10-K - Walmart Inc.wmtform10-kx1312017.htm


Exhibit 12.1

Wal-Mart Stores, Inc.
Ratio of Earnings to Fixed Charges

 
 
January 31,
(Amounts in millions)
 
2017
 
2016
 
2015
 
2014
 
2013
Income from continuing operations before income taxes
 
$
20,497

 
$
21,638

 
$
24,799

 
$
24,656

 
$
25,662

Capitalized interest
 
(36
)
 
(39
)
 
(59
)
 
(78
)
 
(74
)
Consolidated net income attributable to the noncontrolling interest
 
(650
)
 
(386
)
 
(736
)
 
(673
)
 
(757
)
Adjusted income before income taxes
 
19,811

 
21,213

 
24,004

 
23,905

 
24,831

 
 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
 
Interest (1)
 
2,403

 
2,587

 
2,520

 
2,413

 
2,325

Interest component of rent
 
862

 
836

 
916

 
933

 
859

            Total fixed charges
 
3,265

 
3,423

 
3,436

 
3,346

 
3,184

Income before income taxes and fixed charges
 
$
23,076

 
$
24,636

 
$
27,440

 
$
27,251

 
$
28,015

Ratio of earnings to fixed charges
 
7.1

 
7.2

 
8.0

 
8.1

 
8.8

(1) Includes interest on debt, capital leases and financing obligations, amortization of debt issuance costs and capitalized interest.



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