Disruptions in both our primary and secondary back-up systems could harm our ability to run our business. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release. Internationally, we compete with retailers who operate department, drug, variety and specialty stores, supermarkets, supercenter-type stores, hypermarts, wholesale clubs, internet-based retailers and catalog businesses. Moreover, cultural differences in some markets into which we expand or into which we introduce new retail concepts may result in the consumers in those markets not being as receptive to our retail concepts as we anticipate those consumers will be and may make an effective response to such issues more difficult to achieve. Sams Club uses a combination of our private truck fleet, as well as common carriers to transport non-perishable merchandise from distribution centers to clubs. Walmart's total net sales amounted to about 495. Attorneys Office in the Northern District of California subsequently joined in this investigation.
The hours of operation for operating units in the Walmart International segment vary by country and by individual markets within countries, depending upon local and national ordinances governing hours of operation. During the most recent fiscal year, no single club location accounted for as much as 1% of total Company net sales. A firm that expects to continue generating positive excess returns on new investments in the future will see its value increase as growth increases. Wolf Director Signature Page to Wal-Mart Stores, Inc. Through these facilities, we process and distribute both imported and domestic products to the operating units of the Walmart International segment.
From August 2005 to January 2009, he served as Executive Vice President, President and Chief Executive Officer, Sams Club. Although we ultimately believe we will be able to successfully integrate any newly acquired operations into our existing operations, no certainty exists that future acquisitions or alliances will be successfully integrated into our operations or can be successfully integrated in a reasonable time. Our ability to find qualified suppliers who meet our standards, and to access products in a timely and efficient manner is a significant challenge, especially with respect to suppliers located and goods sourced outside the United States. The percentage of net sales for the Walmart U. Duke President and Chief Executive Officer.
From February 2009 to July 2010, he served as Executive Vice President, General Counsel. Business above for additional discussion of our competitive situation in our various operating segments. Simon Executive Vice President, President and Chief Executive Officer, Walmart U. Changes in Internal Control Over Financial Reporting There has been no change in the Companys internal control over financial reporting that occurred during the fiscal quarter ended January 31, 2011, that has materially affected, or is reasonably likely to materially affect, the Companys internal control over financial reporting. The Walmart International segment consists of the Companys operations outside of the 50 United States and Puerto Rico. We may be unable to continue to identify suitable acquisition candidates at acceptable prices and may not be successful in completing the acquisition of any such candidate identified. The new financial system is a significant component of our internal control over financial reporting.
. In the countries in which we have existing operations, new units may be opened in the formats already existing in those countries or may be opened in newly introduced formats, such as supercenters or Sams Clubs, not previously operated in those markets. While management cannot predict the ultimate outcome of this matter, management does not believe the outcome will have a material effect on the Companys financial condition or results of operations. Gearhart Executive Vice President, General Counsel and Corporate Secretary. Our Walmart International segment consists of retail operations in 14 countries. Our failure to identify appropriate candidates for acquisition or alliance or to integrate effectively future acquisitions and alliances into our existing operations could adversely affect the growth of our Walmart International segment and our future financial performance. Third parties owned and operated the remaining 17 distribution facilities.
Such information is included in an exhibit to this Annual Report on Form 10-K. In addition, in Mexico and Canada, Walmart International operates banks that focus on consumer lending. Walmart's in 2017 added up to more than 14 billion U. On February 6, 2007, a divided three-judge panel of the United States Court of Appeals for the Ninth Circuit issued a decision affirming the district courts certification order. In light of the substantial premiums payable for insurance coverage for losses caused by certain natural disasters, such as hurricanes, cyclones, typhoons, tropical storms, earthquakes, floods and tsunamis in the current insurance market, as well as the limitations on available coverage for such losses, we have chosen to be primarily self-insured with respect to such losses.
Our business operations, results of operations, financial condition and liquidity are subject to other risk factors and uncertainties, which we discuss below under the caption Item 1A. We are involved in a number of legal proceedings, which include consumer, employment, tort and other litigation. From December 2005 to January 2007, he served as Vice President and Controller. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The current risk-free rate is 2. The Company maintains separate Profit Sharing and 401 k Plans for associates in the United States and Puerto Rico.
The Company will offer the same matching contribution to all eligible Puerto Rico associates. Financial Statements and Supplementary Data and is incorporated by reference, and refer to the discussion of important information concerning those legal proceedings, including the basis for such actions and, where known, the relief sought. Participants age 50 or older may defer additional earnings in catch-up contributions up to the maximum statutory limits. Robson Walton Chairman of the Board of Directors. The risk of system disruption is increased when significant system changes are undertaken, although we believe that our change management process will mitigate this risk. We may face impediments to our expansion in the United States, including conversions of discount stores into supercenters and opening other store formats, which may adversely affect our financial performance.
Forward-looking statements that we make or that are made by others on our behalf are based on a knowledge of our business and the environment in which we operate and assumptions that we believe to be reasonable at the time such forward-looking statements are made, but because of the factors described and listed above, as well as the other risks, uncertainties and other factors, or as a result of changes in facts, assumptions not being realized or other circumstances, actual results may differ materially from those contemplated in the forward-looking statements. Our ability to offer our customers low prices on quality merchandise that offers exceptional value in the Walmart International segment determines, to a large extent, our competitive position in the countries in which Walmart International operates. Additionally, all club locations offer a Gold Key program that permits Business Members and Plus Members to shop before the regular operating hours Monday through Saturday, starting at 7:00 a. Our Walmart International segment offers a limited amount of consumer credit products, principally through Chile, Canada and Mexico. Walton, opened a similar store in Versailles, Missouri. Sams Club competes with other warehouse clubs, as well as with discount retailers, retail and wholesale grocers, general merchandise wholesalers and distributors, gasoline stations, internet-based retailers and catalog businesses.