Obligation Walton Inc. 6.5% ( US931142CK74 ) en USD

Walton Inc.

116.04 % ▼

Etas-Unis

US931142CK74 ( en USD )

6.5% par an ( paiement semestriel )

14/08/2037

Prospectus brochure de l'obligation Walmart Inc US931142CK74 en USD 6.5%, échéance 14/08/2037

2 000 USD

2 250 000 000 USD

931142CK7

AA ( Haute qualité )

Aa2 ( Haute qualité )

15/08/2026 ( Dans 133 jours )

Walmart Inc. est une entreprise multinationale de vente au détail américaine, exploitant une chaîne de grandes surfaces, d'hypermarchés, de clubs de déstockage et de magasins en ligne, étant l'un des plus grands employeurs au monde.

L'Obligation émise par Walton Inc. ( Etas-Unis ) , en USD, avec le code ISIN US931142CK74, paye un coupon de 6.5% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le 14/08/2037

L'Obligation émise par Walton Inc. ( Etas-Unis ) , en USD, avec le code ISIN US931142CK74, a été notée Aa2 ( Haute qualité ) par l'agence de notation Moody's.

L'Obligation émise par Walton Inc. ( Etas-Unis ) , en USD, avec le code ISIN US931142CK74, a été notée AA ( Haute qualité ) par l'agence de notation Standard & Poor's ( S&P ).

FINAL PROSPECTUS SUPPLEMENT
424B2 1 d424b2.htm FINAL PROSPECTUS SUPPLEMENT
Table of Contents
Filed pursuant to Rule 424(b)(2)
SEC File No. 333-130569
CALCULATION OF REGISTRATION FEE

Title of Each Class of Securities
Maximum Aggregate
Amount of
to be Registered

Offering Price

Registration Fee(1)(2)
Debt Securities

$2,750,000,000

$84,425
(1) Calculated in accordance with Rule 457(r) under the Securities Act of 1933.
(2) This "Calculation of Registration Fee" table shall be deemed to update the "Calculation of
Registration Fee" table in the Company's Registration Statement on Form S-3 (File No. 333-
130569) in accordance with Rules 456(b) and 457(r) under the Securities Act of 1933.
Prospectus Supplement
To Prospectus dated December 21, 2005
$2,750,000,000
Wal-Mart Stores, Inc.
$500,000,000 5.800% Notes Due 2018
$2,250,000,000 6.500% Notes Due 2037

We are offering $500,000,000 of our 5.800% notes due 2018 and $2,250,000,000 of our 6.500% notes
due 2037.
We will pay interest on the notes of each series on February 15 and August 15 of each year, beginning
on February 15, 2008. Interest on the notes of each series will accrue from August 24, 2007. The 2018
notes will mature on February 15, 2018, and the 2037 notes will mature on August 15, 2037.
The notes of each series will be our senior unsecured debt obligations and will rank equally with our
other senior unsecured indebtedness. The notes of each series will not be convertible or
exchangeable. The notes will not be redeemable except upon the occurrence of certain events relating
to U.S. taxation as described under "Description of the Notes--Redemption upon Tax Event" in this
prospectus supplement.

Neither the Securities and Exchange Commission nor any regulatory body has approved or
disapproved of these securities or passed upon the accuracy or adequacy of this prospectus
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FINAL PROSPECTUS SUPPLEMENT
supplement or the accompanying prospectus. Any representation to the contrary is a criminal
offense.

Per 2018
Per 2037

Note
Note
Total
Initial public offering price

99.823%
99.924% $2,747,405,000
Underwriting discount

0.450%
0.875% $
21,937,500
Proceeds, before expenses, to Wal-Mart Stores,
Inc.

99.373%
99.049% $2,725,467,500

The notes will not be listed on any securities exchange. Currently, no public market exists for the notes
of either series.
The underwriters expect to deliver the notes in book-entry form only through the facilities of The
Depository Trust Company and its participants, including Euroclear and Clearstream, against payment
on or about August 24, 2007.
Joint Book-Running Managers
Banc of America Securities LLC

Citi Credit Suisse
Goldman, Sachs & Co.
Senior Co-Managers
Deutsche Bank Securities

JPMorgan
Lehman Brothers

UBS Investment Bank
Co-Managers
Barclays Capital

Dresdner Kleinwort
HSBC

Mitsubishi UFJ Securities
Mizuho Securities USA Inc.

Morgan Stanley
RBS Greenwich Capital

Standard Chartered Bank
Wachovia Securities

Prospectus Supplement dated August 17, 2007
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FINAL PROSPECTUS SUPPLEMENT
Table of Contents
TABLE OF CONTENTS

Prospectus Supplement

Page
Wal-Mart Stores, Inc.

S-3
Recent Developments

S-3
Use of Proceeds

S-4
Capitalization

S-4
Selected Financial Data

S-5
Ratio of Earnings to Fixed Charges

S-7
Description of the Notes

S-8
Book-Entry Issuance
S-10
Tax Consequences to Holders
S-11
Underwriting
S-12
Validity of the Notes
S-15
General Information
S-15
Prospectus

Page
About this Prospectus

2
Where You Can Find More Information

3
Cautionary Statement Regarding Forward-Looking Statements and Information

4
Wal-Mart Stores, Inc.

6
Ratio of Earnings to Fixed Charges

6
Use of Proceeds

7
Description of the Debt Securities

8
Book-Entry Issuance

21
Tax Consequences to Holders

25
Plan of Distribution

33
Legal Matters

36
Experts

36
You should rely on the information contained in this prospectus supplement and contained or
incorporated by reference into the accompanying prospectus. No one has been authorized to provide
you with different information. If this prospectus supplement is inconsistent with the accompanying
prospectus, you should rely on the information contained in this prospectus supplement.
This prospectus supplement and the accompanying prospectus may only be used in connection with
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FINAL PROSPECTUS SUPPLEMENT
the offering of the notes.
The distribution of this prospectus supplement and the accompanying prospectus and the offering or
sale of the notes in some jurisdictions may be restricted by law. Persons into whose possession this
prospectus supplement and the accompanying prospectus come are required by us and the
underwriters to inform themselves about and to observe any applicable restrictions. This prospectus
supplement and the accompanying prospectus may not be used for or in connection with an offer or
solicitation by any person in any jurisdiction in which that offer or solicitation is not authorized or
delivered to any person to whom it is unlawful to make that offer or solicitation. See "Underwriting" in
this prospectus supplement.
In connection with the offering of the notes, Goldman Sachs & Co. and its affiliates may over-allot or
otherwise effect transactions which stabilize or maintain the market price of the notes of one or both
series at levels above those which might otherwise prevail in the open market. Such transactions may
be effected in the over-the-counter markets or otherwise. Such stabilization, if commenced, may be
discontinued at any time without notice as to the notes of either or both series.

S-2
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Table of Contents
WAL-MART STORES, INC.
We are a global retailer, with total net sales of $345.0 billion in our fiscal year ended January 31, 2007.
We operate retail stores in various formats around the world, serving our customers through the
operation of three business segments:

Y Wal-Mart Stores, which includes our supercenters, discount stores and Neighborhood Markets

in the United States;

Y Sam's Clubs, which includes our warehouse membership clubs in the United States; and

Y the International segment of our business.
We currently operate in all 50 states of the United States, as well as in Argentina, Brazil, Canada,
China, Costa Rica, El Salvador, Guatemala, Honduras, Japan, Mexico, Nicaragua, Puerto Rico and
the United Kingdom.
As of April 30, 2007, we operated in the United States:

Y 2,307 supercenters;

Y 1,051 discount stores;

Y 118 Neighborhood Markets; and

Y 582 Sam's Clubs.
As of April 30, 2007, we operated 290 units in Canada, 14 units in Argentina, 300 units in Brazil, 422
units in Central America, 391 units in Japan, 907 units in Mexico, 54 units in Puerto Rico and 336 units
in the United Kingdom and in China, 83 units under joint venture agreements and 101 units under the
Trust-Mart banner. The units in these countries include various retail formats and, in Mexico,
restaurants. Our operations in Central America, Japan and Mexico are conducted through majority-
owned subsidiaries.
Wal-Mart Stores, Inc. is the parent company of a group of subsidiary companies, including Wal-Mart.
com, Inc., Asda Group Limited, The Seiyu, Ltd., Wal-Mart de Mexico, S.A. de C.V., Wal-Mart Central
America, Sam's West, Inc., Sam's East, Inc., Wal-Mart Stores East, LP, Sam's Property Co., Wal-Mart
Property Co., Wal-Mart Real Estate Business Trust and Sam's Real Estate Business Trust. The
information presented above relates to our operations and our subsidiaries on a consolidated basis.
RECENT DEVELOPMENTS
On August 14, 2007, we announced our results of operations for our fiscal quarter and six-month
period ended July 31, 2007.
For the six months ended July 31, 2007, we had net sales of $177.38 billion, compared to $163.36
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FINAL PROSPECTUS SUPPLEMENT
billion for the six months ended July 31, 2006. Our income from continuing operations for the six
months ended July 31, 2007 was $5.93 billion, compared to $5.65 billion for the comparable six-month
period in the prior fiscal year.
Earnings per share from continuing operations for the six months ended July 31, 2007 were $1.44,
compared with $1.35 per share for the six months ended July 31, 2006. Earnings per share from
continuing operations for the first six months of fiscal year 2008 were impacted by three items
recognized in the quarter ended July 31, 2007 that provided a net benefit of $171 million, after tax, or
$0.04 per share. Accruals for general liability and workers' compensation claims were reduced by $196
million, after tax. We also recognized $41 million in after-tax gains from the sale of certain real
properties. These benefits were offset by charges of $66 million, after tax, for legal and other
contingencies.
We recently announced that we have agreed to enter into a joint venture with Bharti Enterprises
Limited, an Indian company, to conduct wholesale cash-and-carry and back-end supply chain
management operations in India, in line with Government of India guidelines. Under our agreement
with Bharti Enterprises, each of us will hold a 50% interest in a newly-formed entity, Bharti Wal-Mart
Private Limited.

S-3
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Table of Contents
USE OF PROCEEDS
We estimate that the net proceeds from the sale of the notes will be approximately $2,725,287,000
after underwriting discounts and payment of transaction expenses.
We will use the net proceeds from the sale of the notes to repay short-term commercial paper
indebtedness. At August 17, 2007, our total commercial paper indebtedness was $6.9 billion, with a
weighted average interest rate of 5.22% and a weighted average remaining maturity of 45.7 days.
CAPITALIZATION
The following table presents the consolidated capitalization of Wal-Mart Stores, Inc. and its
subsidiaries at April 30, 2007 and as adjusted to give effect to the issuance of the notes being offered
hereby and the application of the net proceeds from the sale of the notes (after underwriting discounts
and estimated transaction expenses) to repay a portion of our commercial paper indebtedness.

April 30, 2007

Actual
As Adjusted

(in millions)
Short-term debt

Commercial paper

$ 4,627 $
1,902
Long-term debt due within one year

4,212
4,212
Obligations under capital leases due within one year

246
246

Total short-term debt and capital lease obligations

9,085
6,360
Long-term debt

5.800% notes due 2018

--
500
6.500% notes due 2037

--
2,250
Other long-term debt

29,567
29,567
Long-term obligations under capital leases

3,548
3,548

Total long-term debt and capital lease obligations

33,115
35,865
Shareholders' equity

Common stock and capital in excess of par value

3,284
3,284
Retained earnings

53,956
53,956
Accumulated other comprehensive income

2,671
2,671

Total shareholders' equity

59,911
59,911

Total debt and capital lease obligations and shareholders'
equity

$102,111 $ 102,136

We are offering the notes pursuant to a shelf registration statement that we have on file with the SEC
(Registration No. 333-130569), of which the accompanying prospectus is, and this prospectus
supplement is deemed to be, a part. No limit exists on the amount of our debt securities that we may
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FINAL PROSPECTUS SUPPLEMENT
offer and sell pursuant to that shelf registration statement.

S-4
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Table of Contents
SELECTED FINANCIAL DATA
The following table presents selected financial data of Wal-Mart and its subsidiaries for the fiscal years
specified.

Three Months Ended

April 30,

Fiscal Year Ended January 31,

2007

2006

2007

2006

2005

2004

2003

(in millions)
Income Statement
Data:

Net sales
$85,387 $78,835 $344,992 $308,945 $281,488
$252,792 $226,479
Cost of sales
65,311 60,237 264,152 237,649 216,832
195,922 175,769
Operating, selling,
general and
administrative
expenses
16,249 14,944 64,001 55,739 50,178
43,877 39,178
Interest expense,
net

392
368
1,529
1,178
980
825
930
Income from
continuing
operations

2,826
2,660 12,178 11,408 10,482
9,096
7,940
Net income

2,826
2,615 11,284 11,231 10,267
9,054
7,955

As of April 30,

As of January 31,

2007

2006

2007

2006

2005

2004

2003

(in millions)
Balance Sheet
Data:

Current assets of
continuing
operations
$ 47,579 $ 42,905 $ 46,588 $ 43,146 $ 37,913
$ 33,548 $ 28,867
Inventories
35,200 31,900 33,685 31,910 29,419
26,263 24,098
Property,
equipment and
capital lease
assets, net

90,284 80,000 88,440 77,865 66,549 57,591 50,053
Total assets of
continuing
operations
155,422 137,928 151,193 135,624 117,139
102,455 90,229
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Current liabilities of
continuing
operations
54,700 51,410 51,754 48,348 42,609
37,308 31,752
Long-term debt
29,567 25,036 27,222 26,429 20,087
17,088 16,545
Long-term
obligations under
capital leases

3,548
3,920
3,513
3,667
3,073
2,888
2,903
Shareholders'
equity
59,911 53,314 61,573 53,171 49,396
43,623 39,461
The above selected financial data as of and for the three months ended April 30, 2006 and the fiscal
years ended January 31, 2006, 2005, 2004 and 2003 reflect a reclassification giving effect to the
dispositions of our operations in South Korea and Germany, both of which were consummated in the
quarter ended October 31, 2006. The amounts related to our South Korean and German operations,
including our gain on the disposition of our South Korean operations and the loss on our disposition of
our German operations, and the assets and liabilities of those operations have been treated as
discontinued operations in our consolidated statements of income, consolidated statements of cash
flows and consolidated balance sheets commencing in the quarter ended July 31, 2006. In addition,
the above selected financial data as of January 31, 2003 and for the fiscal year then ended reflect a
reclassification giving effect to the sale of McLane Company, Inc. ("McLane") on May 23, 2003.
McLane has been treated as a discontinued operation commencing in the quarter ended July 31, 2003.

S-5
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