WAL-MART STORES, INC.
Ratio of Earnings to Fixed Charges
Income from continuing operations before income taxes(1)
Consolidated net income attributable to the noncontrolling interest
Adjusted income from continuing operations before income taxes
Interest component of rent
Total fixed charges
Income from continuing operations before income taxes and fixed charges
Ratio of earnings to fixed charges (times)
All prior periods
have been adjusted to reflect the effect of the accounting change.
Includes interest on debt and capital leases, amortization of debt issuance costs and capitalized interest.