Walmart Inc.
For the period ended Oct 31, 2025. Filed Dec 3, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Oct 31, 2025 · Filed Dec 3, 2025
WMT$125.55-0.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
| Nine Months Ended October 31, | ||
|---|---|---|
| (Amounts in millions) | 2025 | 2024 |
| Cash flows from operating activities: | ||
| Consolidated net income | $17,878 | $14,732 |
| Adjustments to reconcile consolidated net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 10,462 | 9,599 |
| Investment (gains) and losses, net | (4,123) | 654 |
| Deferred income taxes | 2,310 | (245) |
| Other operating activities | 2,976 | 1,685 |
| Changes in certain assets and liabilities, net of effects of acquisitions and dispositions: | ||
| Receivables, net | (2,128) | (1,395) |
| Inventories | (8,221) | (9,200) |
| Accounts payable | 7,277 | 7,406 |
| Accrued liabilities | 894 | (807) |
| Accrued income taxes | 127 | 489 |
| Net cash provided by operating activities | 27,452 | 22,918 |
| Cash flows from investing activities: | ||
| Payments for property and equipment | (18,627) | (16,696) |
| Proceeds from disposal of property and equipment | 69 | 358 |
| Proceeds from disposal of certain strategic investments | 799 | 3,813 |
| Other investing activities | (1,271) | (136) |
| Net cash used in investing activities | (19,030) | (12,661) |
| Cash flows from financing activities: | ||
| Net change in short-term borrowings | 5,313 | 2,680 |
| Proceeds from issuance of long-term debt | 3,983 | — |
| Repayments of long-term debt | (2,625) | (2,817) |
| Dividends paid | (5,630) | (5,004) |
| Purchase of Company stock | (7,008) | (3,049) |
| Other financing activities | (1,045) | (1,483) |
| Net cash used in financing activities | (7,012) | (9,673) |
| Effect of exchange rates on cash, cash equivalents and restricted cash | 151 | (351) |
| Net increase in cash, cash equivalents and restricted cash | 1,561 | 233 |
| Cash, cash equivalents and restricted cash at beginning of year | 9,536 | 9,935 |
| Cash, cash equivalents and restricted cash at end of period | $11,097 | $10,168 |
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