沃尔玛 2024年度报告

FORM10-K ☒Annual report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year endedJanuary 31, 2025, or ☐Transition report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934 Commission file number001-06991. 71-0415188 (IRS Employer Identification No.) Registrant's telephone number, including area code: (479)273-4000 Securities registered pursuant to Section12(b) of the Act: Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),and (2)has been subject to such filing requirements for at least the past 90 days. YesýNo¨ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that theregistrant was required to submit such files). YesýNo¨ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smallerreporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act. Large Accelerated FilerNon-Accelerated Filer AcceleratedFilerSmallerReportingCompanyEmerging Growth Company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectivenessof its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registeredpublic accounting firm that prepared or issued its audit report.☒ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of theregistrant included in the filing reflect the correction of an error to previously issued financial statements.¨ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant's executive officers during the relevant recovery period pursuant to §240.10D-1(b).¨ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☒ As of July31, 2024, the aggregate market value of the voting common stock of the registrant held by non-affiliates of the registrant,based on the closing sale price of those shares on the New York Stock Exchange reported on July31, 2024, was $297,576,699,886. Forthe purposes of this disclosure only, the registrant has assumed that its directors, executive officers (as defined in Rule 3b-7 under theExchange Act) and the beneficial owners of 5% or more of the registrant's outstanding common stock are the affiliates of theregistrant. The registrant had8,016,849,444shares of common stock outstanding as of March12, 2025. DOCUMENTS INCORPORATED BY REFERENCE Document PartsIntoWhich Incorporated Portions of the registrant's Proxy Statement for the Annual Meeting ofShareholders to be held June 5, 2025 (the "Proxy Statement") Walmart Inc.Form 10-KFor the Fiscal Year Ended January31, 2025 Table of Contents Part I Item 1BusinessItem 1ARisk FactorsItem 1BUnresolved Staff CommentsItem 1CCybersecurityItem 2PropertiesItem 3Legal ProceedingsItem 4Mine Safety Disclosures Part IIItem 5 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity SecuritiesItem 6ReservedItem 7Management's Discussion and Analysis of Financial Condition and Results of OperationsItem 7AQuantitative and Qualitative Disclosures About Market RiskItem 8Financial Statements and Supplementary DataItem 9Changes in and Disagreements with Accountants on Accounting and Financial DisclosureItem 9AControls and ProceduresItem 9BOther InformationItem 9CDisclosure Regarding Foreign Jurisdictions that Prevent Inspections Part III Item 10Directors, Executive Officers and Corporate GovernanceItem 11Executive CompensationItem 12Security Ownership of Certain Beneficial Owners and Management and Related Stockholder MattersItem 13Certain Relationships and Related Transactions, and Director IndependenceItem 14Principal Accounting Fees and Services Part IVItem 15Exhibits, Financial Statement SchedulesItem 16Form 10-K SummarySignatures WALMART INC. ANNUAL REPORT ON FORM 10-KFOR THE FISCAL YEAR ENDED JANUARY 31, 2025 All references in this Annual Report on Form 10-K, the information