Walmart and Hedge Accounting

Please prepare a response post to the following focusing on Foreign Exchange Risk:
My favorite international company is Walmart. Generally all international companies have international trade transactions. These transactions can be export sale transactions and import purchase transactions. If the value of the sale is in foreign currency which is allowed to fluctuate (has its independent float) like the United States dollar (USD), the pound sterling (GBP), Japanese yen (JPY) etc., then the business is impacted by changes in the exchange rates, and foreign exchange risk exist.
Walmart is a United States based retail company but sells goods in 19 countries outside the U.S. with more than 5,100 retail units around the world
According to the two transaction perspective (FASB ASC 830-20) in accounting for foreign currency transactions the sale amount and the collection amount is different because of the different currency rates on the date of sale and date of payment and this difference needs to be recognized as gain or loss.
Walmart provides disclosures about foreign exchange risk in its annual report under the financial risk category. It's written in detail that "fluctuations in foreign exchange rates may materially adversely affect Walmart's financial performance and reported results of operations." Walmart's operations outside the U.S. are conducted in the local currencies, but for consolidated financial statements Walmart must translate the amounts of assets, liabilities, net sales, other revenues and expenses from local currencies into U.S. dollars. In recent years fluctuations in currency exchange rates were unfavorable for Walmart and had adverse effects on results of operations. (Walmart Financials, 2023 p. 23). Walmart had a $1.1 billion net loss in currency translation.
To minimize or eliminate foreign exchange risk Walmart also uses hedging: currency swaps. Currency swap is an agreement in which two parties exchange the loan amount with principal and interest from one currency to another currency.
Walmart also enters into foreign currency forward contract to hedge the foreign currency transactions (Walmart Financials, 2023 p. 49). Two common types of derivates to hedge foreign exchange risk are forward contracts and options.
A forward contract locks an exchange rate at which the foreign currency transaction will occur in the future.
Through hedge accounting Walmart discloses that its foreign exchange hedges are effective in offsetting gains and losses. Walmart uses a hypothetical calculation to illustrate the effectiveness of swap contracts with 10% in interest rates (Walmart Financials, 2023 p. 49).