Question

Does Walmart disclose any contingencies in their 2019 disclosure notes?

Answer 1

Yes.

Assuming that you are referring to the financial year 2019 which ended on January 31, 2019, Walmart has disclosed 3 contingencies (Legal proceedings which might result in future liabilities) in their disclosure notes, namely, ASDA Equal Value Claims proceeding in the UK (regarding disparity of pay between men and women employees in stores and warehouses), National Prescription Opiate Litigation and Related Matters proceeding in Ohio (with regard to claims arising from opioid abuse) and FCPA Investigation and Related Matters (regarding internal investigation of alleged violations of the U.S. Foreign Corrupt Practices Act along with misconduct in some subsidiaries including the one in Mexico). While Walmart hasn't estimated the loss on account of the first two contingencies mentioned above, it has accrued probable loss of $283 million for the FCPA investigation till the end of fiscal year 2018.

Even in the financial year 2020 which ended on January 31, 2020, Walmart has disclosed the progress on these same 3 contingencies mentioned above and there is no addition of contingencies. The key development was that Walmart paid the above mentioned $283 million in June 2019 as Settlement amount for the FCPA investigation resolution.