Financial Statement Analysis Case. Wal-Mart Stores, Inc. Presented in illustrati

Question

Financial Statement Analysis Case. Wal-Mart Stores, Inc.

Presented in illustration 1-31 are the financial statement disclosures from the January 31, 2012, annual report of Wal-Mart Stores, Inc.

Instructions

Answer the following questions related to these disclosures.

What is the total obligation under capital leases at January 31, 2012, for Wal-Mart?

What is the total rental expense reported for leasing activity for the year ended January 31, 2012, for Wal-Mart?

Estimate the off-balance-sheet liability due to Wal-Mart’s operating leases at January 31, 2012.

Explanation / Answer

What is the total obligation under capital leases at January 31, 2012, for Wal-Mart?

The total obligation under capital leases at January 31, 2012, for Wal-Mart is $5,935 million.

What is the total rental expense reported for leasing activity for the year ended January 31, 2012, for Wal-Mart?

The Company and certain of its subsidiaries have long-term leases for stores and equipment. Rentals (including amounts applicable to taxes, insurance, maintenance, other operating expenses and contingent rentals) under operating leases and other short-term rental arrangements were $2.4 billion in fiscal 2012.

Estimate the off-balance-sheet liability due to Wal-Mart’s operating leases at January 31, 2012

Liability due to Wal-Mart’s operating leases at January 31, 2012, is $16,415 million.

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