Basic net income per common share attributable to Walmart is based on the weighted-average common shares outstanding during the relevant period. Diluted net income per common share attributable to Walmart is based on the weighted-average common shares outstanding during the relevant period adjusted for the dilutive effect of share-based awards as determined under the treasury stock method. The Company did not have significant share-based awards outstanding that were antidilutive and not included in the calculation of diluted net income per common share attributable to Walmart for the three and six months ended July 31, 2026 and 2025.

The following table provides a reconciliation of the numerators and denominators used to determine basic and diluted net income per common share attributable to Walmart:


	Three Months Ended July 31,				Six Months Ended July 31,
(Amounts in millions, except per share data)	2026		2025		2026		2025
Numerator
Consolidated net income	$	6,529	$	7,151	$	12,019	$	11,790
Consolidated net income attributable to noncontrolling interest	(163)		(125)		(323)		(277)
Consolidated net income attributable to Walmart	$	6,366	$	7,026	$	11,696	$	11,513

Denominator
Weighted-average common shares outstanding, basic	7,954		7,978		7,962		7,994
Dilutive impact of share-based awards	24		38		27		39
Weighted-average common shares outstanding, diluted	7,978		8,016		7,989		8,033

Net income per common share attributable to Walmart
Basic	$	0.80	$	0.88	$	1.47	$	1.44
Diluted	0.80		0.88		1.46		1.43