Form 11-K
Table of Contents

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 


FORM 11-K

 


(Mark One)

x Annual Report Pursuant to Section 15(d) of the Securities Exchange Act of 1934

For the fiscal year ended January 31, 2007.

or

 

¨ Transaction Report Pursuant to Section 15(d) of the Securities Exchange Act of 1934

For the transition period from              to             .

Commission file number 1-6991

 


 

A. Full title of the plan and the address of the plan, if different from that of the issuer named below:

WAL-MART PROFIT SHARING AND 401(k) PLAN

 

B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:

LOGO

WAL-MART STORES, INC.

702 Southwest Eighth Street

Bentonville, Arkansas 72716

 



Table of Contents

Financial Statements

AND SUPPLEMENTAL SCHEDULES

Wal-Mart Profit Sharing and 401(k) Plan

As of January 31, 2007 and 2006, and for the year ended January 31, 2007


Table of Contents

Wal-Mart Profit Sharing and 401(k) Plan

Financial Statements and

Supplemental Schedules

As of January 31, 2007 and 2006, and for the year ended January 31, 2007

Contents

 

Report of Independent Registered Public Accounting Firm

   1

Audited Financial Statements

  

Statements of Net Assets Available for Benefits

   3

Statement of Changes in Net Assets Available for Benefits

   4

Notes to Financial Statements

   5

Supplemental Schedules

  

Schedule H; Line 4i—Schedule of Assets (Held at End of Year)

   22

Schedule H; Line 4j—Schedule of Reportable Transactions

   30


Table of Contents

Report of Independent Registered Public Accounting Firm

The Retirement Plans Committee

Wal-Mart Profit Sharing and 401(k) Plan

We have audited the accompanying statements of net assets available for benefits of Wal-Mart Profit Sharing and 401(k) Plan as of January 31, 2007 and 2006, and the related statement of changes in net assets available for benefits for the year then ended January 31, 2007. These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. We were not engaged to perform an audit of the Plan’s internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Plan’s internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement’s presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of the Plan at January 31, 2007 and 2006, and the changes in its net assets available for benefits for the year then ended January 31, 2007, in conformity with U.S. generally accepted accounting principles.

Our audits were performed for the purpose of forming an opinion on the financial statements taken as a whole. The accompanying supplemental schedules of assets (held at end of year) as of January 31, 2007, and reportable transactions for the year then ended, are presented for purposes of additional analysis and are not a required part of the financial statements but are supplementary information required by the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. These supplemental schedules are the responsibility of the Plan’s management. The supplemental schedules have been subjected to the auditing procedures applied in our audits of the financial statements and, in our opinion, are fairly stated in all material respects in relation to the financial statements taken as a whole.

 

1


Table of Contents

As discussed in Note 2 to the financial statements, in 2007 the Plan adopted FSP AAG INV-1 and SOP 94-4-1, Reporting of Fully Benefit-Responsive Investment Contracts Held by Certain Investment Companies Subject to the AICPA Investment Company Guide and Defined-Contribution Health and Welfare and Pension Plans.

LOGO

July 17, 2007

Rogers, Arkansas

 

2


Table of Contents

Wal-Mart Profit Sharing and 401(k) Plan

Statements of Net Assets Available for Benefits

 

     January 31,
     2007    2006
     (In Thousands)

Assets

     

Investments (at fair value)

   $ 9,016,525    $ 8,046,112

Wrapper contracts (at fair value)

     237      —  

Receivables:

     

Company contributions

     870,592      804,983

Associate contributions

     —        8,258

Due from broker

     1,456      1,598

Other receivables

     246      103
             

Total receivables

   $ 872,294    $ 814,942

Cash

     9,928      4,383
             

Net assets available for benefits (at fair value)

   $ 9,898,984    $ 8,865,437

Adjustments from fair value to contract value for fully benefit-responsive investment contracts

     23,894      23,329
             

Net assets available for benefits

   $ 9,922,878    $ 8,888,766
             

See accompanying notes.

 

3


Table of Contents

Wal-Mart Profit Sharing and 401(k) Plan

Statement of Changes in Net Assets Available for Benefits

Year ended January 31, 2007

(In Thousands)

 

Additions

  

Company contributions

   $ 873,602

Associate contributions

     308,778

Interest and dividend income

Net appreciation in fair value of investments

    
 
239,633
300,683

Other, net

     6,131
      

Total additions

     1,728,827

Deductions

  

Benefit payments

     690,323

Administrative expenses

     4,392
      

Total deductions

     694,715
      

Net increase

     1,034,112

Net assets available for benefits, at beginning of year

     8,888,766
      

Net assets available for benefits, at end of year

   $ 9,922,878
      

See accompanying notes.

 

4


Table of Contents

Wal-Mart Profit Sharing and 401(k) Plan

Notes to Financial Statements

January 31, 2007

1. Description of the Plan

The following description of the Wal-Mart Profit Sharing and 401(k) Plan (the “Plan”) provides only general information regarding the Plan as in effect on January 31, 2007. This document is not part of the Summary Plan Description and is not a document pursuant to which the Plan is maintained within the meaning of Section 402(a)(1) of the Employee Retirement Income Security Act of 1974 (“ERISA”), as amended. Participants should refer to the Plan document for a complete description of the Plan’s provisions. To the extent not specifically prohibited by statute or regulation, Wal-Mart Stores, Inc. (“Wal-Mart” or the “Company”) reserves the right to unilaterally amend, modify, or terminate the Plan at any time, and such changes may be applied to all Plan participants and their beneficiaries regardless of whether the participant is actively working or retired at the time of the change. The Plan may not be amended, however, to permit any part of the Plan’s assets to be used for any purpose other than for the purpose of paying benefits to participants and their beneficiaries and paying Plan expenses.

General

The Plan is a defined contribution plan which was established by the Company on February 1, 1997, as the Wal-Mart Stores, Inc. 401(k) Retirement Savings Plan. The Plan was amended, effective October 31, 2003, to merge the assets of the Wal-Mart Stores, Inc. Profit Sharing Plan applicable to United States participants into the Plan. In connection with the merger, the Plan was renamed Wal-Mart Profit Sharing and 401(k) Plan.

Each eligible employee who was a participant in the Plan as of October 31, 2003, shall continue to be a participant hereunder from and after November 1, 2003, as long as such individual continues to be an eligible employee. Each eligible employee who was not a participant in the Plan as of October 31, 2003, and has completed at least 1,000 hours of service in a consecutive 12-month period commencing on date of hire (or during any plan year) is eligible to participate in the Plan. Participation may begin on the first day of the month following eligibility. The Plan is subject to the provisions of ERISA.

 

5


Table of Contents

Wal-Mart Profit Sharing and 401(k) Plan

Notes to Financial Statements (continued)

January 31, 2007

 

1. Description of the Plan (continued)

 

The responsibility for operation, investment policy, and administration of the Plan (except for day-to-day investment management and control of assets) is vested in the Retirement Plans Committee of the Company. Retirement Plans Committee members are appointed by the Company’s Vice-President, Retirement and Savings Plans Department, with ratification of a majority of sitting committee members.

The trustee function of the Plan is performed by Merrill Lynch Investment Managers LLC (the “Trustee”). The Trustee receives and holds contributions made to the Plan in trust and invests those contributions as directed by participants and according to the policies established by the Retirement Plans Committee. The Trustee makes payouts from the Plan in accordance with the Plan document. The Trustee is affiliated with Merrill Lynch, Pierce, Fenner & Smith, Inc., the parent corporation of the Trustee. The Trustee is affiliated with Blackrock Investment Management, LLC, manager of the Merrill Lynch Equity Index Fund and the Merrill Lynch Retirement Preservation Fund, which are investment options offered under the Plan to participants. The Trustee is the record-keeper for the Plan.

Contributions

All eligible associates participate in the Plan and may elect to contribute from one percent to 25 percent of their eligible wages. Certain highly compensated associate contributions may be further limited under the terms of the Plan. Participants who have attained age 50 before the end of the calendar year are eligible to make catch-up contributions. Participants may also contribute amounts representing distributions from other qualified defined benefit or defined contribution plans (rollover contributions). Whether or not a participant contributes to the Plan, he or she will receive a portion of the Company’s Qualified Non-Elective contributions and Profit Sharing contributions if the associate meets certain eligibility requirements. To be eligible to receive Company contributions, the participant must complete at least 1,000 hours of service during the Plan year for which the contributions are made, as well as be employed on the last day of that Plan year.

Wal-Mart’s contributions are discretionary and can vary from year to year. At the end of each Plan year, the Board of Directors of the Company, or its authorized committee or delegate, at their discretion, determines the Company’s contributions (if any). The Company’s contribution for each participant will be based on a percentage of the participant’s eligible wages for the Plan year. For the Plan year ended January 31, 2007, the discretionary contribution percentage was two percent of eligible participants’ compensation for each of the Company’s Qualified Non-Elective contribution and the Company’s Profit Sharing contribution. Such contributions are subject to certain limitations in accordance with provisions of the Internal Revenue Code (the “Code”).

 

6


Table of Contents

Wal-Mart Profit Sharing and 401(k) Plan

Notes to Financial Statements (continued)

January 31, 2007

 

1. Description of the Plan (continued)

 

Participants’ Accounts

Each participant’s account is credited with earnings (losses) net of administrative expenses which are determined by the investments held in each participant’s account; the participant’s contribution; and an allocation of (a) the Company’s contributions to the Plan made on the participant’s behalf, and (b) forfeited balances of terminated participants’ nonvested Profit Sharing contributions and forfeited unclaimed checks. Allocations of forfeitures to participants are based on eligible wages. As of January 31, 2007 and 2006, forfeited nonvested Profit Sharing contributions and unclaimed check forfeitures to be reallocated to the remaining participants totaled approximately $40 million and $29 million, respectively.

Vesting

Participants are immediately vested in all elective contributions, catch-up contributions, Qualified Non-Elective contributions, rollover contributions, tax credit contributions and Profit Sharing Plan rollover contributions. A participant’s Profit Sharing contributions vest based on years of service at a rate of 20% per year from years three through seven. Profit Sharing contributions become fully vested upon the participant retirement at age 65 or above, or total and permanent disability or death.

Payment of Benefits and Withdrawals

Generally, payment upon a participant’s separation from the Company (and its controlled group members) is a lump-sum payment or five-year annual installments in cash for the balance of the participant’s vested account. However, participants may elect to receive a single lump-sum payment of their Profit Sharing contributions in whole shares of Company stock, with partial or fractional shares paid in cash even if such contributions are not invested in Company stock. Participants may also elect to receive a single lump-sum payment of their Qualified Non-Elective contribution in whole shares of Company stock, with partial or fractional shares paid in cash, but only to the extent such contributions are invested in Company stock as of the date distributions are processed. To the extent the participant’s Profit Sharing and Qualified Non-Elective contributions are not invested in Company stock, the contributions will automatically be distributed in cash, unless directed otherwise by the participant. Participants may also elect to rollover their account balance into a different tax-qualified retirement plan or individual retirement account upon separation from the Company (and its controlled group members).

The Plan permits withdrawals of active participants’ salary reduction contributions and rollover contributions only in amounts necessary to satisfy financial hardship as defined by the Internal Revenue Service (“IRS”). In-service withdrawal of vested balances may be elected by participants who have reached 69 1/2 years of age.

 

7


Table of Contents

Wal-Mart Profit Sharing and 401(k) Plan

Notes to Financial Statements (continued)

January 31, 2007

 

1. Description of the Plan (continued)

 

Plan Termination

While there is no intention to do so, the Company may discontinue the Plan subject to the provisions of ERISA. In the event of complete or partial Plan termination, or discontinuance of contributions to the Plan, participants’ accounts shall be immediately vested. The Plan shall remain in effect (unless it is specifically terminated) and the assets shall be administered in the manner provided by the terms of the trust agreement and distributed as soon as administratively feasible.

Investment Options

A participant or former participant may direct the Trustee to invest any portion of his/her elective contributions, catch-up contributions, Qualified Non-Elective contributions and rollover contributions in available investment options. Participant investment options include a variety of mutual funds, a common/collective trust, Wal-Mart common stock, and a stable value fund, which consists of a money market fund, a common/collective trust, and traditional and synthetic guaranteed investment contracts. Participants may change their selections at any time.

Participants’ Profit Sharing contributions and Profit Sharing Plan rollover contributions are invested at the direction of the Retirement Plans Committee for participants with less than seven years of service. Participants with at least seven years of service may direct the Trustee to invest such contributions in available investment options.

Participant investments not directed by the associate shall be invested by the Trustee as directed by the Retirement Plans Committee.

 

8


Table of Contents

Wal-Mart Profit Sharing and 401(k) Plan

Notes to Financial Statements (continued)

January 31, 2007

 

2. Summary of Accounting Policies

Basis of Accounting

Shares of mutual funds are valued at published prices which represent the net asset values of shares held by the Plan at year end based on the underlying fair value of the assets held by the fund. Shares of money market funds are stated at cost which approximates fair value. Wal-Mart common stock is stated at fair value, which equals the quoted market price on the last business day of the year. Investments in common/collective trust funds are stated at the fair value of the underlying assets determined by the Trustee. Traditional and synthetic guaranteed investment contracts held by the Plan through a stable value fund are considered to be fully benefit-responsive and are recorded at fair value, then adjusted to contract value (Note 3). Contract value represents contributions made under the contract, plus interest at the contract rates less withdrawals. Purchases and sales are recorded on a trade-date basis. Dividends are recorded on the ex-dividend date. Benefit payments are recorded when paid. Company contributions are recorded by the Plan in the period in which they were accrued by the Company. Company contributions to the Plan related to the year ended January 31, 2007, were paid in March 2007.

The Company bears the majority of costs associated with administering the Plan, except for certain expenses paid by the Plan participants.

Use of Estimates

The preparation of the financial statements in conformity with U.S. generally accepted accounting principles requires Plan management to use estimates and assumptions that affect the amounts reported in the accompanying financial statements and notes. Actual results could differ from these estimates.

Reclassifications

Certain prior year amounts have been reclassified to conform to current year presentations.

 

9


Table of Contents

Wal-Mart Profit Sharing and 401(k) Plan

Notes to Financial Statements (continued)

January 31, 2007

 

2. Summary of Accounting Policies (continued)

 

Fully Benefit-Responsive Investment Contracts

In December 2005, the Financial Accounting Standards Board (FASB) issued FASB Staff Position AAG INV-1 and Statement of Position (SOP) 94-4-1, Reporting of Fully Benefit-Responsive Investment Contracts Held by Certain Investment Companies Subject to the AICPA Investment Company Guide and Defined-Contribution Health and Welfare and Pension Plans (the FSP). The FSP defines the circumstances in which an investment contract is considered fully benefit-responsive and provides certain reporting and disclosure requirements for fully benefit-responsive investment contracts in defined contribution health and welfare and pension plans. The financial statement presentation and disclosure provisions of the FSP are effective for financial statements issued for annual periods ending after December 15, 2006, and are required to be applied retroactively to all prior periods presented for comparative purposes. The Plan has adopted the provisions of the FSP at January 31, 2007.

As required by the FSP, investments in the accompanying statements of net assets available for benefits include fully benefit-responsive investment contracts recognized at fair value. American Institute of Certified Public Accountants SOP 94-1-1, Reporting of Investment Contracts Held by Health and Welfare Benefits Plans and Defined Contribution Pension Plans, amended, requires fully benefit-responsive investment contracts to be reported at fair value in the Plan’s statement of net assets available for benefits with a corresponding adjustment to reflect these investments at contract value. The requirements of the FSP have been applied retroactively to the statement of net assets available for benefits as of January 31, 2006, presented for comparative purposes. Adoption of the FSP had no effect on the statement of changes in net assets available for benefits for any period presented.

3. Retirement Preservation Fund Investments

The Plan’s Retirement Preservation Fund (“RPF”) is a stable value investment option for the Plan’s participants and participants in the Wal-Mart Puerto Rico Profit Sharing and 401(k) Plan. The RPF is invested in a money market fund, a common/collective trust (the “Retirement Preservation Trust”), traditional guaranteed investment contracts (“GIC’s”), and synthetic GIC’s. The synthetic GIC’s are secured by underlying fixed income assets. The crediting interest rates on all investment contracts ranged from 2.8% to 5.8% for the year ended January 31, 2007, and from 2.8% to 5.7% for the year ended January 31, 2006. Average duration for all investment contracts was 2.7 years and 2.8 years at January 31, 2007, and January 31, 2006, respectively. There are no reserves against the contract value for credit risk of the contracted issuer or otherwise.

 

10


Table of Contents

Wal-Mart Profit Sharing and 401(k) Plan

Notes to Financial Statements (continued)

January 31, 2007

 

3. Retirement Preservation Fund Investments (continued)

 

Traditional GICs issued by an insurance company are valued by calculating the sum of the present values of all projected future cash flows of each investment. The discount rate used is provided by other similar maturity investment contracts at year-end. The fair values of the synthetic GIC wrapper contracts are determined by the difference between the present value of the replacement cost of the wrapper contract and the present value of the contractually obligated payments in the original wrapper contract. The underlying investments in the synthetic GICs are debt securities that are traded primarily in over-the-counter market and are valued at the last available bid price in the over-the-counter market or on the basis of values obtained by a pricing service. Pricing services use valuation matrixes that incorporate both dealer-supplied valuations and valuation models.

The Fund enters into book value investment contracts (BVCs), also known as synthetic investment contracts. BVCs are comprised of both investment and contractual components. The investment component consists of collective investment funds and a pooled portfolio of actively managed fixed income securities owned by the Fund, referred to as Covered Assets. This investment component is “wrapped” by contracts (Wrapper Agreements) issued by third-party financial institutions (generally insurance companies or banks) (Wrapper Providers). These Wrapper Agreements generally provide for participant benefit withdrawals and investment transfers at the full contract value of the Wrapper Agreement (i.e., principal plus accrued interest) nothwithstanding the actual market value of the underlying investments (i.e., fair value of Covered Assets plus accrued interest). In this manner, Wrapper Agreements are designed to protect the Fund from investment losses as a result of movements in interest rates. However, the Wrapper Agreements generally do not protect the Fund from loss if an issuer of covered assets defaults on payments of principal or interest. A default by the issuer of a covered asset or Wrapper Provider on its obligation could result in a decrease in the value of the Fund’s assets. The Fund pays wrapper fees to the Wrapper Providers. Wrapper fees are negotiated separately with each issuer and are generally calculated based on a specified percentage of contract value.

In general, if the contract value of the Wrapper Agreement exceeds the market value of the Covered Assets (including accrued interest), the Wrapper Provider becomes obligated to pay that difference to the Fund in the event that redemptions result in a total contract liquidation. In the event that there are partial redemptions that would otherwise cause the Wrapper Agreement’s crediting rate to fall below 0%, the Wrapper Provider is obligated to contribute to the Fund an amount necessary to maintain the contract’s crediting rate at not less than 0%. The circumstances under which payments are made and the timing of payments between the Fund and the Wrapper Provider may vary based on the terms of the Wrapper Agreement.

 

11


Table of Contents

Wal-Mart Profit Sharing and 401(k) Plan

Notes to Financial Statements (continued)

January 31, 2007

 

3. Retirement Preservation Fund Investments (continued)

 

A synthetic GIC provides for a guaranteed principal plus any credited interest that has accrued over a specified period of time through benefit-responsive wrapper contracts issued by a third party which are backed by underlying assets. The fair value on the synthetic GIC’s is approximately $419,360,000 and $309,938,000 at January 31, 2007 and 2006, respectively. Included in the fair value of the synthetic GIC’s is approximately $237,000 and $0 at January 31, 2007 and 2006, respectively, attributable to wrapper contracts.

All investment contracts held in the portfolio at January 31, 2007 and 2006, are fully benefit-responsive. All contracts are effected directly between the RPF, with Merrill Lynch as the Trustee, and the wrapper or issuer of the benefit-responsive feature. The RPF, with Merrill Lynch as the Trustee, is prohibited from assigning or selling the contract to another party without the consent of the wrapper of issuer.

All benefit-responsive contracts held in the portfolio at January 31, 2007 and 2006, require that either the repayment of principal and interest credited to participants in the RPF is a financial obligation of the issuer of the investment contract or a wrapper contract provides assurance that the interest crediting rate will not be less than zero. No event has occurred such that realization of full contract value for a particular investment contract is no longer probable.

The RPF invests in the Retirement Preservation Trust, a stable value collective trust fund. All investment contracts held in the Retirement Preservation Trust have been individually evaluated for benefit-responsiveness and all are fully benefit-responsive. There are no restrictions on access to funds for the payment of benefits.

The RPF allows participants daily access to the funds. The terms of the investment contracts held in the portfolio at January 31, 2007 and 2006, permit all participant-initiated transactions with the RPF to occur at contract value with no conditions, limits or restrictions. Permitted participant initiated transactions are those transactions allowed by the Plan, such as withdrawals for benefits, loans, or transfer to other funds within the Plan. There is no probability of events occurring that would limit the ability of the RPF to transact at contract value for participant initiated transactions.

 

12


Table of Contents

Wal-Mart Profit Sharing and 401(k) Plan

Notes to Financial Statements (continued)

January 31, 2007

 

3. Retirement Preservation Fund Investments (continued)

 

The interest crediting rate for each investment contract is determined as follows: the current dollar duration yield to maturity of the underlying investments plus or minus an adjustment for any difference between the contract value and fair value of securities taken over the contract value and the duration of the securities. The key factors that could influence future crediting rates are changes to market interest rates, changes in the market value of securities, changes in the duration or weighted average life of securities and deposits or withdrawals to investment contracts. All investment contracts have a 0.0% minimum interest crediting rate. All investment contracts are reset at least quarterly, although under certain circumstances such as a large deposit or withdrawal, they may be reset more frequently.

As interest rates rise, the market value of the underlying securities declines and when interest rates fall, the market value of the underlying securities rises. The relationship to future interest crediting rates based on a change in interest rates up or down will generally have minimal impact on the crediting rate since the change in rates will generally be offset by the change in market value, except when there is a change in duration. Duration is a measure of average life of all cash flows in the portfolio on a present value basis. A change in duration when market values decline (interest rates rise) will reduce the crediting rate if duration shortens and increase the crediting rate if duration lengthens. A change in duration when market values rise (interest rates fall) will increase the crediting rate when duration falls and decrease the crediting rate when duration rises. Finally, any deposit or withdrawal to the investment contract will impact the crediting rate based on the relative size of the deposit or withdrawal.

The average yield earned by the entire RPF (which may differ from the interest rate credited to participants in the RPF) was 5.60% and 5.32% at January 31, 2007 and 2006, respectively. This average yield was calculated by dividing the annualized earnings of all investments in the RPF (irrespective of the interest rate credited to participants in the RPF) by the fair value of all investments in the RPF.

The average yield earned by the entire RPF with an adjustment to reflect the actual interest rate credited to participants in the RPF was 4.89% and 4.49% at January 31, 2007 and 2006, respectively. This average yield was calculated by dividing the annualized earnings credited to participants in the RPF (irrespective of the actual earnings of the investments in the RPF) by the fair value of all investments in the RPF.

 

13


Table of Contents

Wal-Mart Profit Sharing and 401(k) Plan

Notes to Financial Statements (continued)

January 31, 2007

 

3. Retirement Preservation Fund Investments (continued)

 

The type of events that could potentially limit the ability of the RPF to transact at contract value could include premature termination of the contracts by the Plan, location closings, layoffs, plan termination, bankruptcy, mergers, and early retirement incentives. The likelihood of the occurrence of these events that would limit the Plan’s ability to transact at contract value with the participants in the Plan is not probable. The RPF also maintains a liquidity protocol such that benefit-responsive contracts are insulated in the portfolio access structure and 69.8% and 71.6% as of January 31, 2007 and 2006, respectively, insulates these benefit-responsive contracts.

The issuer may terminate a benefit-responsive contract with the RPF, with Merrill Lynch as the Trustee, including, but not limited to, a failure of the RPF, with Merrill Lynch as the Trustee, to comply with contractual requirements; a material mis-representation of the RPF, with Merrill Lynch as the Trustee; failure to remain a qualified plan under the Internal Revenue Code; or a merger or termination of the Plan. Upon such an event which remains uncured, the issuer may terminate at a settlement amount other than the contract value.

4. Investments

The Trustee holds the Plan’s investments and executes all investment transactions. The Plan invests in various investment securities. Investment securities are exposed to various risks, such as interest rate, credit and market risks. Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect participants’ account balances and the amounts reported in the statements of net assets available for benefits.

During the 2007 Plan year, the Plan’s investments (including investments purchased, sold, and held during the year) appreciated in value as follows:

 

     Net
Appreciation
in Fair Value
of Investments
     (In Thousands)

Wal-Mart Stores, Inc. Common Stock

   $ 132,447

Mutual Funds

     100,539

Common/Collective Trusts

     64,560

Other

     3,137
      

Total

   $ 300,683
      

 

14


Table of Contents

Wal-Mart Profit Sharing and 401(k) Plan

Notes to Financial Statements (continued)

January 31, 2007

 

4. Investments (continued)

 

The fair value of individual investments that represent five percent or more of the Plan’s net assets are as follows:

 

     January 31,
     2007    2006
     (In Thousands)

Wal-Mart Stores, Inc. Common Stock

   $ 4,139,382    $ 4,185,515

Merrill Lynch Retirement Preservation Trust (*)

     904,135      868,679

PIMCO Total Return Fund

     902,652      715,522

Merrill Lynch Equity Index Trust

     529,504      417,939

(*) The contract value for Merrill Lynch Retirement Preservation Trust is $921,646 and $884,596 at January 31, 2007 and 2006, respectively.

 

15


Table of Contents

Wal-Mart Profit Sharing and 401(k) Plan

Notes to Financial Statements (continued)

January 31, 2007

 

5. Non-Participant-Directed Investments

 

Information about the net assets and the significant components of the changes in net assets relating to the non-participant-directed investments is as follows:

 

     As of January 31, 2007
     (In Thousands)
    

Wal-Mart

Stores, Inc.

Common
Stock

  

Merrill Lynch

Retirement

Preservation
Fund

  

Merrill

Lynch

Equity
Index

Trust GM

  

American

Europacific

Growth
Fund

GM

  

Franklin

Small-Mid
Cap

Growth Fund
GM

  

PIMCO

Total
Return

Fund GM

  

Ariel

Fund

GM

  

Mass

Investment

Growth

Fund GM

  

Davis

NY

Venture

Fund

GM

   Total

Assets:

                             

Common Stock

   $ 4,139,382    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ 4,139,382

Mutual Funds

     —        —        —        238,959      170,337      793,961      192,263      263,377      271,736      1,930,633

Money Market Fund

     —        126,637      —        —        —        —        —        —        —        126,637

Common/Collective Trust

     —        904,135      270,835      —        —        —        —        —        —        1,174,970

Traditional and Synthetic GIC’s

     —        447,977      —        —        —        —        —        —        —        447,977
                                                                     

Investments (at fair value)

     4,139,382      1,478,749      270,835      238,959      170,337      793,961      192,263      263,377      271,736      7,819,599

Wrapper contracts (at fair value)

     —        237      —        —        —        —        —        —        —        237

Contributions receivable

     32,241      131,901      91,268      77,559      39,558      190,770      40,006      84,057      91,268      778,628
                                                                     

Net assets available for benefits (at fair value)

     4,171,623      1,610,887      362,103      316,518      209,895      984,731      232,269      347,434      363,004      8,598,464
Adjustments from fair value to contract value for fully benefit-responsive investment contracts      —        23,894      —        —        —        —        —        —        —        23,894
                                                                     

Net assets available for benefits

   $ 4,171,623    $ 1,634,781    $ 362,103    $ 316,518    $ 209,895    $ 984,731    $ 232,269    $ 347,434    $ 363,004    $ 8,622,358
                                                                     

 

16


Table of Contents

Wal-Mart Profit Sharing and 401(k) Plan

Notes to Financial Statements (continued)

January 31, 2007

 

5. Non-Participant-Directed Investments (continued)

 

     Year ended January 31, 2007  
     (In Thousands)  
    

Wal-Mart

Stores, Inc.

Common
Stock

   

Merrill Lynch

Retirement

Preservation

Fund

   

Merrill

Lynch

Equity

Index

Trust GM

   

American
Europacific

Growth

Fund GM

   

Franklin

Small-Mid

Cap

Growth Fund

GM

   

PIMCO
Total

Return

Fund GM

   

Ariel
Fund

GM

   

Mass

Investment

Growth

Fund GM

   

Davis

NY

Venture

Fund GM

    Total  

Changes in net assets:

                    

Contributions

   $ 95,528     $ 156,114     $ 107,237     $ 93,208     $ 49,397     $ 229,016     $ 50,905     $ 99,543     $ 107,237     $ 988,185  

Interest and dividends

     61,001       64,693       1       15,885       10,910       31,827       10,959       1       1,788       197,065  
Net appreciation / (depreciation) in fair value of investments      132,447       3,137       33,355       17,045       (1,225 )     (5,071 )     5,561       15,601       32,549       233,399  

Benefit payments

     (318,426 )     (146,126 )     (19,821 )     (16,567 )     (12,165 )     (64,330 )     (14,071 )     (19,313 )     (19,829 )     (630,648 )

Administrative expenses

     (172 )     (2,442 )     (179 )     (116 )     (111 )     (771 )     (134 )     (177 )     (179 )     (4,281 )

Net interfund transfers

     (301,072 )     154,451       (8,830 )     (15,259 )     6,239       27,733       (412 )     7,145       (8,523 )     (138,528 )

Other, net

     1,424       3,524       145       92       90       625       109       145       145       6,299  
                                                                                

Net increase / (decrease)

     (329,270 )     233,351       111,908       94,288       53,135       219,029       52,917       102,945       113,188       651,491  
Net assets available for benefits at beginning of year      4,500,893       1,401,430       250,195       222,230       156,760       765,702       179,352       244,489       249,816       7,970,867  
                                                                                
Net assets available for benefits at end of year    $ 4,171,623     $ 1,634,781     $ 362,103     $ 316,518     $ 209,895     $ 984,731     $ 232,269     $ 347,434     $ 363,004     $ 8,622,358  
                                                                                

 

17


Table of Contents

Wal-Mart Profit Sharing and 401(k) Plan

Notes to Financial Statements (continued)

January 31, 2007

 

5. Non-Participant-Directed Investments (continued)

 

    

As of

January 31, 2006

     (In Thousands)
    

Wal-Mart

Stores, Inc.

Common
Stock

  

Merrill Lynch

Retirement

Preservation
Fund

  

Merrill

Lynch

Equity
Index

Trust GM

  

American

Europacific

Growth
Fund

GM

  

Franklin

Small-Mid
Cap

Growth
Fund GM

  

PIMCO

Total
Return

Fund GM

  

Ariel

Fund

GM

  

Mass

Investment

Growth

Fund GM

  

Davis

NY

Venture

Fund GM

   Total

Assets:

                             

Common Stock

   $ 4,185,515    $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ —      $ 4,185,515

Mutual Funds

     —        —        —        196,245      133,703      619,667      152,142      207,727      212,817      1,522,301

Money Market Fund

     —        34,214      —        —        —        —        —        —        —        34,214

Common/Collective Trust

     —        868,679      213,196      —        —        —        —        —        —        1,081,875

Traditional and Synthetic GIC’s

     —        356,862      —        —        —        —        —        —        —        356,862
                                                                     

Investments (at fair value)

     4,185,515      1,259,755      213,196      196,245      133,703      619,667      152,142      207,727      212,817      7,180,767

Wrapper contracts (at fair value)

     —        —        —        —        —        —        —        —        —        —  

Contributions receivable

     315,378      118,346      36,999      25,985      23,057      146,035      27,210      36,762      36,999      766,771
                                                                     
Net assets available for benefits (at fair value)      4,500,893      1,378,101      250,195      222,230      156,760      765,702      179,352      244,489      249,816      7,947,538
Adjustments from fair value to contract value for fully benefit-responsive investment contracts      —        23,329      —        —        —        —        —        —        —        23,329
                                                                     

Net assets available for benefits

   $ 4,500,893    $ 1,401,430    $ 250,195    $ 222,230    $ 156,760    $ 765,702    $ 179,352    $ 244,489    $ 249,816    $ 7,970,867
                                                                     

 

18


Table of Contents

Wal-Mart Profit Sharing and 401(k) Plan

Notes to Financial Statements (continued)

January 31, 2007

 

5. Non-Participant-Directed Investments (continued)

 

The above tables represent the net assets available for benefits for both the 401(k) and Profit Sharing Investments. The investment amounts in the above tables include a portion that is participant-directed, as the participant-directed investments cannot be segregated from the total.

6. Differences between Financial Statements and Form 5500

The following is a reconciliation of net assets available for benefits per the financial statements to Form 5500:

 

     January 31,  
     2007     2006  
     (In Thousands)  

Net assets available for benefits per the financial statements

   $ 9,922,878     $ 8,888,766  

Less: Amounts allocated to withdrawing participants

     (8,767 )     (1,336 )

Less: Adjustment from contract value to fair value for fully benefit-responsive investment contracts

     (23,894 )     —    
                

Net assets available for benefits per the Form 5500

   $ 9,890,217     $ 8,887,430  
                

The following is a reconciliation of benefit payments per the financial statements to the Form 5500 as of January 31, 2007 (in thousands):

 

Benefit payments per the financial statements

   $  690,323  

Add: Amounts allocated to withdrawn participants at end of year

     8,767  

Less: Amounts allocated to withdrawn participants at beginning of year

     (1,336 )
        

Benefit payments per the Form 5500

   $ 697,754  
        

Amounts allocated to withdrawing participants are recorded in the Form 5500 for benefit payments that have been processed and approved for payment prior to January 31, but not paid as of that date.

 

19


Table of Contents

Wal-Mart Profit Sharing and 401(k) Plan

Notes to Financial Statements (continued)

January 31, 2007

 

6. Differences between Financial Statements and Form 5500 (continued)

 

The following is a reconciliation of the investment income per the financial statements to the Form 5500 for the year ended January 31, 2007 (in thousands):

 

Total investment income per the financial statements

   $ 540,316  

Less: Adjustment from contract value to fair value for fully benefit-responsive investment contracts

     (23,894 )
        

Total investment income reported on Form 5500

   $ 516,422  
        

Amounts related to fully benefit-responsive investment contracts are recorded on the Form 5500 at fair value and in the financial statement at contract value.

7. Tax Status

The Plan has received a determination letter from the IRS dated June 8, 2004, stating that the Plan is qualified under Section 401(a) of the Code and, therefore, the related trust is exempt from taxation. Subsequent to this determination by the IRS, the Plan was amended. Once qualified, the Plan is required to operate in conformity with the Code to maintain its qualification. The Plan Sponsor believes the Plan is being operated in compliance with the applicable requirements of the Code and, therefore, believes that the Plan, as amended, is qualified and the related trust is tax exempt.

8. Related-Party Transactions

Certain Plan investments are shares of common stock of Wal-Mart Stores, Inc. and shares of a common/collective trust and a stable value fund managed by Blackrock Investment Management, LLC. Wal-Mart Stores, Inc. is the Plan sponsor, and Merrill Lynch is the trustee and record-keeper as defined by the Plan, and Blackrock Investment Management LLC is an affiliate of the Trustee, therefore, these transactions qualify as exempt party-in-interest transactions. Fees paid by the Plan for the trustee and record-keeping services amounted to approximately $4.4 million for the year ended January 31, 2007.

 

20


Table of Contents

Wal-Mart Profit Sharing and 401(k) Plan

Notes to Financial Statements (continued)

January 31, 2007

 

9. Subsequent Events

 

The Plan was amended, effective February 1, 2007, to change the following provisions:

 

   

The five-year annual installment distribution option was removed as a plan option for all distributions that occur after the effective date.

 

   

Participants or former participants who have completed at least three years of service may elect to direct the Trustee to invest any portion of his or her Profit Sharing Contribution Account and PSP Rollover Contribution Account in specific assets or other available investments options.

 

   

Increased participant elective contribution deferrals up to 50% of his or her compensation that would have been received but for the deferral election.

 

21


Table of Contents

Supplemental Schedules


Table of Contents

Wal-Mart Profit Sharing and 401(k) Plan

Schedule H, Line 4i – Schedule of Assets (Held at End of Year)

January 31, 2007

EIN #71-0415188

Plan #003

 

    

Identity of Issue and Description of Investment

   Contract
Issuer
Moody’s
/ S&P
Rating
   Crediting
Rate
   Cost    Investments at
Fair Value
   Wrapper
Contracts at
Fair Value
   Adjustment to
Contract Value
   Contract Value
   NON-PARTICIPANT DIRECTED:

(*) (**)

   Wal-Mart Stores, Inc.                     
  

Common Stock

         $ 1,439,273    $ 4,139,382    $ —      $ —      $ —  

(*) (**)

   Merrill Lynch                     
  

Premier Fund

           126,637      126,637      —        —        126,637

(*) (**)

   Merrill Lynch                     
  

Retirement Preservation Trust

           921,661      904,135      —        17,511      921,646

(*)

   Merrill Lynch                     
  

Equity Index Trust GM

           209,364      270,835      —        —        —  
  

American Europacific

                    
  

Growth Fund GM

           181,287      238,959      —        —        —  
  

Franklin Templeton Investments

                    
  

Small-Mid Cap Growth Fund GM

           134,516      170,337      —        —        —  
  

PIMCO Funds

                    
  

Total Return Fund GM

           812,184      793,961      —        —        —  
  

Ariel

                    

 

22


Table of Contents

Wal-Mart Profit Sharing and 401(k) Plan

Schedule H, Line 4i – Schedule of Assets (Held at End of Year)

January 31, 2007

EIN #71-0415188

Plan #003

 

Identity of Issue and Description of Investment

  

Contract
Issuer
Moody’s

/ S&P
Rating

   Crediting
Rate
    Cost    Investments at
Fair Value
   Wrapper
Contracts at
Fair Value
   Adjustment to
Contract Value
   Contract Value

Ariel Fund GM

        162,538    192,263    —      —      —  

Massachusetts Investments

                   

Growth Stock Fund GM

        209,155    263,377    —      —      —  

Davis Funds

                   

New York Venture Fund GM

        188,044    271,736    —      —      —  
                             
        4,384,659    7,371,622    —      17,511    1,048,283

SYNTHETIC GUARANTEED INVESTMENT CONTRACTS

 

AIG Financial Products:

   Aa2/AA    4.96 %   —      —      (5)    661    49,925

Fannie Mae Trust Series 2003-15 Class CP, 4.50%

        953    940    —      —      —  

Fannie Mae, 5.88%, 6/27/2013

        10,203    10,069    —      —      —  

Morgan Stanley Dean Witter Capital I Series 2003-TOP9 Class A1, 3.98%

        2,076    2,049    —      —      —  

Ginnie Mae Trust Series 2005-09 Class AB, 4.49%

        9,462    9,338    —      —      —  

GMAC Mortgage Corporation Loan Trust Series 2005-AR4 Series 4A1, 5.17%

        10,755    10,614    —      —      —  

Freddie Mac Multiclass Certificates Series 3073 Class LA, 5.00%

        16,476    16,259    —      —      —  

 

23


Table of Contents

Wal-Mart Profit Sharing and 401(k) Plan

Schedule H, Line 4i – Schedule of Assets (Held at End of Year)

January 31, 2007

EIN #71-0415188

Plan #003

 

Identity of Issue and Description of Investment

  

Contract
Issuer
Moody’s

/ S&P

Rating

   Crediting
Rate
    Cost    Investments at
Fair Value
   Wrapper
Contracts at
Fair Value
   Adjustment to
Contract Value
   Contract Value

Bank of America N.A.:

   Aa1/AA    4.96 %   —      —      24    1,255    56,935

Banc of America Commercial Mortgage Inc. Series 2004-6 Class A3, 4.51%

        19,713    19,270    —      —      —  

JP Morgan Mortgage Trust Series 2006-A3 Class 3A2, 5.76%

        23,276    22,753    —      —      —  

Asset Backed Funding Certificates Series 2005-AQ1 Class A4, 5.01%

        7,458    7,290    —      —      —  

Wells Fargo mortgage Backed Securities Trust Series 2003-H Class A1, 4.65%

        6,488    6,343    —      —      —  

IXIS Financial Products, Inc.:

   Aaa/AAA    5.08 %   —      —      63    750    59,659

Fannie Mae Trust Series 2003-55 Class CG, 4.00%

        28,149    27,765    —      —      —  

Citigroup Mortgage Loan Trust Inc. Series 2005-10 Class 1A5A, 5.87%

        10,867    10,719    —      —      —  

Banc of America Commercial Mortgage Inc. Series 2006-2 Class A3, 5.71%

        20,643    20,362    —      —      —  

JPMorgan Chase Bank:

   Aa2/AA-    5.22 %   —      —      33    729    48,426

Ginnie Mae Trust Series 2003-64 Class A, 3.09%

        1,151    1,132    —      —      —  

Banc of America Funding Corporation Series 2006-4 Class A11, 6.00%

        9,551    9,402    —      —      —  

Fannie Mae Trust Series 2004-92 Class QY, 4.50%

        6,893    6,785    —      —      —  

 

24


Table of Contents

Wal-Mart Profit Sharing and 401(k) Plan

Schedule H, Line 4i – Schedule of Assets (Held at End of Year)

January 31, 2007

EIN #71-0415188

Plan #003

 

Identity of Issue and Description of Investment

  

Contract
Issuer
Moody’s

/ S&P

Rating

   Crediting
Rate
    Cost    Investments at
Fair Value
   Wrapper
Contracts at
Fair Value
   Adjustment to
Contract Value
   Contract Value

Federal Home Loan Banks SB-2016 1, 4.89%, 12/23/2016

        4,544    4,472    —      —      —  

Wells Fargo Mortgage Backed Securities Trust Series 2005-2 Class 1A3, 5.25%

        15,626    15,380    —      —      —  

Banc of America Mortgage Securities Series 2005-L Class 2A3, 5.24%

        4,511    4,440    —      —      —  

JPMorgan Mortgage Trust Series 2006-A1 Class 3A2, 5.61%

        6,150    6,053    —      —      —  

Rabobank Nederland:

   Aaa/AAA    5.83 %   —      —      46    (137)    43,805

Fannie Mae, 5.75%, 5/1/2013

        25,294    25,347    —      —      —  

JPMorgan Mortgage Trust Series 2006-A4 Class 4A2, 5.80%

        18,511    18,549    —      —      —  

State Street Bank:

   Aa2/AA    4.89 %   —      —      (4)    1,217    47,339

Citicorp Mortgage Securities, Inc. Series 2005-1 Class 1A1, 5.00%

        15,878    15,471    —      —      —  

Citicorp Mortgage Securities, Inc. Series 2004-6 Class 1A1, 5.50%

        8,334    8,121    —      —      —  

GMAC Commercial Mortgage Securities Inc. Series 2004-C3 Class A4, 4.55%

        9,896    9,642    —      —      —  

Countrywide Home Loan Series 2005-5 Class A6, 5.50%

        13,231    12,892    —      —      —  

Transamerica Life Insurance Co.:

   Aa3/AA    5.25 %   —      —      48    748    62,918

 

25


Table of Contents

Wal-Mart Profit Sharing and 401(k) Plan

Schedule H, Line 4i – Schedule of Assets (Held at End of Year)

January 31, 2007

EIN #71-0415188

Plan #003

 

Identity of Issue and Description of Investment

  

Contract
Issuer
Moody’s

/ S&P
Rating

   Crediting
Rate
    Cost    Investments at
Fair Value
   Wrapper
Contracts at
Fair Value
   Adjustment to
Contract Value
   Contract Value

Freddie Mac Multiclass Certificates Series 2603 Class TC, 4.00%

        3,157    3,117    —      —      —  

Bear Sterns Commercial Mortgage Securities Series 2000-WF1 Class A1, 7.64%

        775    766    —      —      —  

Banc of America Funding Corporation Series 2006-D Class 5A2, 5.24%

        27,479    27,131    —      —      —  

GE Capital Commercial Mortgage Corporation Series 2003-C1 Class A1, 3.09%

        1,108    1,094    —      —      —  

Freddie Mac Multiclass Certificates Series 2772 Class DJ, 4.50%

        12,126    11,973    —      —      —  

Countrywide Home Loan Series 2005-6 Class 1A2, 5.00%

        14,369    14,187    —      —      —  

Wells Fargo Mortgage Backed Securities Trust Series 2005-AR14 Class A2, 5.39%

        3,904    3,854    —      —      —  

UBS AG:

   Aa2/AA+    4.94 %   —      —      32    913    56,729

GMAC Mortgage Corporation Loan Trust Series 2005-AR2 Series 2A, 4.85%

        14,831    14,584    —      —      —  

Fannie Mae Whole Loan Series 2004-W6 Class 1A4, 5.50%

        21,476    21,118    —      —      —  

Honda Auto Receivables Owner Trust Series 2003-3 Class A4, 2.77%

        6,970    6,854    —      —      —  

Asset Backed Funding Certificates Series 2005-AQ1 Class A6, 4.78%

        7,259    7,138    —      —      —  

 

26


Table of Contents

Wal-Mart Profit Sharing and 401(k) Plan

Schedule H, Line 4i – Schedule of Assets (Held at End of Year)

January 31, 2007

EIN #71-0415188

Plan #003

 

Identity of Issue and Description of Investment

   Contract
Issuer
Moody’s
/ S&P
Rating
   Crediting
Rate
   Cost    Investments at
Fair Value
   Wrapper
Contracts at
Fair Value
   Adjustment to
Contract Value
   Contract Value

GSAA Home Equity Trust Series 2005-7 Class AF3, 4.75%

         6,193    6,090    —      —      —  
                              

TOTAL SYNTHETIC GUARANTEED INVESTMENT CONTRACTS

         425,736    419,363    237    6,136    425,736

TRADITIONAL GUARANTEED INVESTMENT CONTRACTS

                    

Genworth Life Insurance Company, 4.18%

         1,246    1,494    —      5    1,499

Hartford Life Insurance Company, 4.57%

         623    765    —      —      765

Hartford Life Insurance Company, 3.32%

         2,991    3,347    —      39    3,386

John Hancock Life Insurance Co., 4.64%

         1,252    1,543    —      3    1,546

MetLife Life & Annuity Co., 4.79%

         1,246    1,549    —      2    1,551

New York Life Insurance Co., 3.32%

         1,503    1,692    —      24    1,716

New York Life Insurance Co., 2.82%

         1,336    1,454    —      36    1,490

Pacific Life Insurance Co., 4.40%

         1,252    1,518    —      3    1,521

Pacific Life Insurance Co., 3.18%

         1,503    1,675    —      25    1,700

Pacific Life Insurance Co., 3.27%

         1,503    1,673    —      30    1,703

 

27


Table of Contents

Wal-Mart Profit Sharing and 401(k) Plan

Schedule H, Line 4i – Schedule of Assets (Held at End of Year)

January 31, 2007

EIN #71-0415188

Plan #003

 

Identity of Issue and Description of Investment

   Contract
Issuer
Moody’s
/ S&P
Rating
   Crediting
Rate
   Cost    Investments at
Fair Value
   Wrapper
Contracts at
Fair Value
   Adjustment to
Contract Value
   Contract Value

Principal Life Insurance Co., 3.97%

         1,869    2,181    —      12    2,193

Principal Life Insurance Co., 4.26%

         1,869    2,244    —      5    2,249

Protective Life Insurance Co., 3.69%

         623    724    —      6    730

Protective Life Insurance Co., 3.90%

         2,243    2,606    —      14    2,620

Protective Life Insurance Co., 3.61%

         1,495    1,705    —      19    1,724

United of Omaha Life Insurance Co., 4.11%

         1,252    1,487       6    1,493

United of Omaha Life Insurance Co., 2.80%

         877    957       18    975
                              

TOTAL TRADITIONAL GUARANTEED INVESTMENT CONTRACTS

         24,683    28,614    —      247    28,861
                              

TOTAL NON-PARTICIPANT DIRECTED

         4,835,078    7,819,599    237    23,894    1,502,880

PARTICIPANT-DIRECTED:

                    

(*) Merrill Lynch

                    

Equity Index Trust

            258,669    —      —      —  

Ariel

                    

Ariel Fund

            91,919    —      —      —  

American Europacific

                    

 

28


Table of Contents

Wal-Mart Profit Sharing and 401(k) Plan

Schedule H, Line 4i – Schedule of Assets (Held at End of Year)

January 31, 2007

EIN #71-0415188

Plan #003

 

Identity of Issue and Description of Investment

   Contract
Issuer
Moody’s
/ S&P
Rating
   Crediting
Rate
   Cost    Investments at
Fair Value
   Wrapper
Contracts at
Fair Value
   Adjustment to
Contract Value
   Contract Value

Growth Fund

              234,123      —        —        —  

PIMCO Funds

                    

Total Return Fund

              108,691      —        —        —  

Davis Funds

                    

New York Venture Fund

              99,082      —        —        —  

Franklin Templeton Investments

                    

Small-Mid Cap Growth Fund

              223,909      —        —        —  

Massachusetts Investments

                    

Growth Stock Fund

              53,831      —        —        —  

Allianz Funds

                    

RCM Innovation Fund

              4,241      —        —        —  

AIM Funds

                    

International Growth Fund

              122,461      —        —        —  
                                        

TOTAL PARTICIPANT-DIRECTED

           —        1,196,926      —        —        —  
                                        

TOTAL INVESTMENTS

         $ 4,835,078    $ 9,016,525    $ 237    $ 23,894    $ 1,502,880
                                        

* Party-in-interest
** The amounts include both non-participant and participant-directed amounts as the participant-directed investments cannot be segregated from the total.

Note: The “Cost” column is not applicable for participant directed investments.

 

29


Table of Contents

Wal-Mart Profit Sharing and 401(k) Plan

Schedule H, Line 4j – Schedule of Reportable Transactions

January 31, 2007

EIN #71-0415188

Plan #003

 

(a)    (b)    (c)    (d)    (g)    (h)    (i)

Identity of

Party Involved

   Description of Assets
(Including Interest Rate and
Maturity in Case of Loans)
   Purchase Price    Selling
Price
   Cost of
Asset
  

Current
Value of
Asset on
Transaction

Date

  

Net Gain

or (Loss)

Category (iii) – Series of transactions in excess of 5% of beginning of year Plan assets:

Merrill Lynch Premier Fund*

   Money Market    $ 236,029    $ —      $ 236,029    $ 236,029    $ —  

Merrill Lynch Premier Fund*

   Money Market    $ —      $ 175,074    $ 175,074    $ 175,074    $ —  

Wal-Mart Stores, Inc. *

   Common Stock    $ 359,431    $ —      $ 359,431    $ 359,431    $ —  

Wal-Mart Stores, Inc. *

   Common Stock    $ —      $ 540,080    $ 221,962    $ 540,080    $ 318,118

There were no category (i), (ii) or (iv) transactions during the 2007 Plan year.

Columns (e) and (f), are not applicable.

 


* The above transactions include a portion that is participant-directed. The above table includes both non-participant and participant-directed transactions, as the participant-directed transactions cannot be segregated from the total.

 

30


Table of Contents

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  Wal-Mart Profit Sharing and 401(k) Plan

Date: July 20, 2007

  By:  

/s/ Stephen R. Hunter

    Vice President, Retirement and Savings Plans Department
    Wal-Mart Stores, Inc.