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Walmart Inc. Consolidated Balance Sheet
As of January 31 ($Millions)
	2019	2018
ASSETS
Current Assets:
Cash and Equivalents	7,722	6,756
Accounts Receivable	6,283	5,614
Inventory	44,269	43,783
Prepaid Expenses	3,623	3,511
Total Current Assets	61,897	59,664
Net Property, Plant, and Equipment	111,395	114,818
Goodwill	31,181	18,242
Other Long-Term Assets	14,822	11,798
Total Assets	219,295	204,522
LIABILITIES
Current Liabilities:
Accounts Payable	47,060	46,092
Accrued Liabilities	22,159	22,122
Short-Term Borrowings	5,225	5,257
Current Portion of Long-Term Debt & Capital Leases	2,605	4,405
Other Current Liabilities	428	645
Total Current Liabilities	77,477	78,521
Long-Term Debt and Capital Leases	50,203	36,825
Deferred Income Taxes and Other	11,981	8,354
Total Liabilities	139,661	123,700
EQUITY
Common Stock and Paid-In Capital	3,253	2,943
Retained Earnings	80,785	85,107
Other Comprehensive Income (Loss)	(11,542)	(10,181)
Total Common Equity	72,496	77,869
Non-Controlling Interest	7,138	2,953
Total Equity	79,634	80,822
Total Liabilities and Equity	219,295	204,522
Total Debt (interest-bearing):		Weights
Long-Term Debt & Capital Leases
Current Portion of Long-Term Debt & Capital Leases
Short-term Borrowings
		#DIV/0!		If the cell is of this color - the formula is already inputted.
Total Equity:
Common Stock and Paid-In Capital
Retained Earnings
		#DIV/0!
Total Liabilities & Equity		#DIV/0!
Walmart 2030 bond (as of February 19 2019)
	Annual	Semi-Annual(Input Values)
Time to maturity -- years				semi-annual periods (nper)		MV of Debt
Coupon rate				semi-annual dollar coupons (pmt)		BV of S-T Obligations		As reported in Bal Sheet
Current price				present value (pv)		MV of LT Debt		# Bonds * MV of Debt
Face value				future value (fv)
						MV of Equity
Yield				=rate (nper,pmt,pv,fv) * 2		Price of Stock * Pr /Share
Compute After-Tax Cost of Debt: Kd	YTM		(1-Tc)		After-Tax Cost of Debt
Kd = Before-tax Kd x ( 1 - tax rate) =		x		=
Compute Cost of Equiy: Ke	RF		Beta		(Rm-Rf)		Cost of Equity
Ke = Rf + x MRP =		+		x		=
WACC using Market Values
		MV	weight		cost		wtd avg
MV of Debt				x		=
Equity				x		=
Total Capital		-			WACC
WACC using Book Values
	BV	weight		cost		wtd avg
Debt			x		=
Equity			x		=
Total Capital				WACC

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