10-Q Filing

O REILLY AUTOMOTIVE INC CIK: 898173 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0000898173-23-000029`
Period End Date	20230331
Filing Date	20230509
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	orly-20230331x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 32 Cash Flow Statement 62 Stockholders Equity 27 Comprehensive Income 8

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$108.58M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	245.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	245.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$59.87M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	61.04M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	62.35M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$343.15M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$346.04M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	61.04M	shares	Point-in-time
Amounts receivable from suppliers	`NontradeReceivablesCurrent`	$127.02M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	62.35M	shares	Point-in-time
Amounts receivable from suppliers	`NontradeReceivablesCurrent`	$128.76M	USD	Point-in-time
Inventory	`InventoryNet`	$4.54B	USD	Point-in-time
Inventory	`InventoryNet`	$4.36B	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$110.38M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$109.35M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$5.19B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$5.05B	USD	Point-in-time
Property and equipment, at cost	`PropertyPlantAndEquipmentGross`	$7.44B	USD	Point-in-time
Property and equipment, at cost	`PropertyPlantAndEquipmentGross`	$7.65B	USD	Point-in-time
Less: accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$3.09B	USD	Point-in-time
Less: accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$3.01B	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$4.56B	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$4.42B	USD	Point-in-time
Operating lease, right-of-use assets	`OperatingLeaseRightOfUseAsset`	$2.17B	USD	Point-in-time
Operating lease, right-of-use assets	`OperatingLeaseRightOfUseAsset`	$2.11B	USD	Point-in-time
Goodwill	`Goodwill`	$884.45M	USD	Point-in-time
Goodwill	`Goodwill`	$892.09M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$158.97M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$167.03M	USD	Point-in-time
Total assets	`Assets`	$12.63B	USD	Point-in-time
Total assets	`Assets`	$12.97B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$6.06B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.88B	USD	Point-in-time
Self-insurance reserves	`SelfInsuranceReserveCurrent`	$138.93M	USD	Point-in-time
Self-insurance reserves	`SelfInsuranceReserveCurrent`	$136.72M	USD	Point-in-time
Accrued payroll	`AccruedSalariesCurrent`	$111.32M	USD	Point-in-time
Accrued payroll	`AccruedSalariesCurrent`	$126.89M	USD	Point-in-time
Accrued benefits and withholdings	`AccruedBenefitsAndWithholdings`	$132.02M	USD	Point-in-time
Accrued benefits and withholdings	`AccruedBenefitsAndWithholdings`	$166.43M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$117.79M	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$366.72M	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$375.45M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$383.69M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$427.01M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.06B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.36B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$4.93B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$4.37B	USD	Point-in-time
Operating lease liabilities, less current portion	`OperatingLeaseLiabilityNoncurrent`	$1.85B	USD	Point-in-time
Operating lease liabilities, less current portion	`OperatingLeaseLiabilityNoncurrent`	$1.81B	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$245.35M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$249.90M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$201.26M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$209.41M	USD	Point-in-time
Common stock, $0.01 par value: Authorized shares - 245,000,000 Issued and outstanding shares - 61,038,936 as of March 31, 2023, and 62,353,221 as of December 31, 2022	`CommonStockValue`	$610.00K	USD	Point-in-time
Common stock, $0.01 par value: Authorized shares - 245,000,000 Issued and outstanding shares - 61,038,936 as of March 31, 2023, and 62,353,221 as of December 31, 2022	`CommonStockValue`	$624.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.31B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.31B	USD	Point-in-time
Retained deficit	`RetainedEarningsAccumulatedDeficit`	$-2.95B	USD	Point-in-time
Retained deficit	`RetainedEarningsAccumulatedDeficit`	$-2.38B	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$21.89M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$3.00M	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-1.06B	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-1.63B	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-66.42M	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-328.27M	USD	Point-in-time
Total liabilities and shareholders' deficit	`LiabilitiesAndStockholdersEquity`	$12.63B	USD	Point-in-time
Total liabilities and shareholders' deficit	`LiabilitiesAndStockholdersEquity`	$12.97B	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$3.71B	USD	1 Quarter
Sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$3.30B	USD	1 Quarter
Cost of goods sold, including warehouse and distribution expenses	`CostOfGoodsAndServicesSold`	$1.82B	USD	1 Quarter
Cost of goods sold, including warehouse and distribution expenses	`CostOfGoodsAndServicesSold`	$1.59B	USD	1 Quarter
Gross profit	`GrossProfit`	$1.89B	USD	1 Quarter
Gross profit	`GrossProfit`	$1.71B	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.04B	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.17B	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$716.64M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$669.53M	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$34.84M	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$44.57M	USD	1 Quarter
Interest income	`OtherInterestAndDividendIncome`	$868.00K	USD	1 Quarter
Interest income	`OtherInterestAndDividendIncome`	$510.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$4.48M	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-1.94M	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-39.23M	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-36.27M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$677.42M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$633.26M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$160.53M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$151.38M	USD	1 Quarter
Net income	`NetIncomeLoss`	$481.88M	USD	1 Quarter
Net income	`NetIncomeLoss`	$516.88M	USD	1 Quarter
Earnings per share	`EarningsPerShareBasic`	$8.36	USD	1 Quarter
Earnings per share	`EarningsPerShareBasic`	$7.24	USD	1 Quarter
Weighted-average common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	66.57M	shares	1 Quarter
Weighted-average common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	61.84M	shares	1 Quarter
Earnings per share	`EarningsPerShareDiluted`	$8.28	USD	1 Quarter
Earnings per share	`EarningsPerShareDiluted`	$7.17	USD	1 Quarter
Weighted-average common shares outstanding - assuming dilution	`WeightedAverageNumberOfDilutedSharesOutstanding`	67.19M	shares	1 Quarter
Weighted-average common shares outstanding - assuming dilution	`WeightedAverageNumberOfDilutedSharesOutstanding`	62.40M	shares	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$481.88M	USD	1 Quarter
Net income	`NetIncomeLoss`	$516.88M	USD	1 Quarter
Depreciation and amortization of property, equipment and intangibles	`DepreciationDepletionAndAmortization`	$82.92M	USD	1 Quarter
Depreciation and amortization of property, equipment and intangibles	`DepreciationDepletionAndAmortization`	$93.75M	USD	1 Quarter
Amortization of debt discount and issuance costs	`AmortizationOfFinancingCostsAndDiscounts`	$1.22M	USD	1 Quarter
Amortization of debt discount and issuance costs	`AmortizationOfFinancingCostsAndDiscounts`	$1.10M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$3.39M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$5.03M	USD	1 Quarter
Share-based compensation programs	`ShareBasedCompensation`	$6.53M	USD	1 Quarter
Share-based compensation programs	`ShareBasedCompensation`	$7.43M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-29.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-1.01M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.61M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$33.68M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$179.48M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$158.39M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$172.70M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$247.28M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$138.23M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$145.44M	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$82.03M	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$44.99M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$713.76M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$689.89M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$223.27M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$103.99M	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$2.70M	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$3.16M	USD	1 Quarter
Investment in tax credit equity investments	`PaymentsForProceedsFromInvestments`	$4.08M	USD	1 Quarter
Investment in tax credit equity investments	`PaymentsForProceedsFromInvestments`	-	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$956.00K	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$68.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-104.98M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-221.52M	USD	1 Quarter
Proceeds from borrowings on revolving credit facility	`ProceedsFromLongTermLinesOfCredit`	$1.22B	USD	1 Quarter
Proceeds from borrowings on revolving credit facility	`ProceedsFromLongTermLinesOfCredit`	-	USD	1 Quarter
Payments on revolving credit facility	`RepaymentsOfLongTermLinesOfCredit`	-	USD	1 Quarter
Payments on revolving credit facility	`RepaymentsOfLongTermLinesOfCredit`	$661.00M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$1.11B	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$775.21M	USD	1 Quarter
Net proceeds from issuance of common stock	`ProceedsFromStockPlans`	$15.15M	USD	1 Quarter
Net proceeds from issuance of common stock	`ProceedsFromStockPlans`	$19.94M	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-354.00K	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-350.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-541.67M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-755.62M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$714.00K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$147.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-170.57M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-48.71M	USD	1 Quarter
Cash and cash equivalents at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$59.87M	USD	Point-in-time
Cash and cash equivalents at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$191.55M	USD	Point-in-time
Cash and cash equivalents at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$108.58M	USD	Point-in-time
Cash and cash equivalents at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$362.11M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$59.87M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$191.55M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$108.58M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$362.11M	USD	Point-in-time
Income taxes paid	`IncomeTaxesPaid`	$8.58M	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	$9.70M	USD	1 Quarter
Interest paid, net of capitalized interest	`InterestPaidNet`	$31.51M	USD	1 Quarter
Interest paid, net of capitalized interest	`InterestPaidNet`	$26.53M	USD	1 Quarter

Stockholders Equity 27 line items

Line Item	Tag	Value	Unit	Period
Balance at beginning of period	`StockholdersEquity`	$-1.06B	USD	Point-in-time
Balance at beginning of period	`StockholdersEquity`	$-1.63B	USD	Point-in-time
Balance at beginning of period	`StockholdersEquity`	$-66.42M	USD	Point-in-time
Balance at beginning of period	`StockholdersEquity`	$-328.27M	USD	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	61.04M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	62.35M	shares	Point-in-time
Net income	`NetIncomeLoss`	$481.88M	USD	1 Quarter
Net income	`NetIncomeLoss`	$516.88M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$5.06M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$18.90M	USD	1 Quarter
Issuance of common stock under employee benefit plans, net of forfeitures and shares withheld to cover taxes	`StockIssuedDuringPeriodValueEmployeeBenefitPlan`	$5.29M	USD	1 Quarter
Issuance of common stock under employee benefit plans, net of forfeitures and shares withheld to cover taxes	`StockIssuedDuringPeriodValueEmployeeBenefitPlan`	$4.88M	USD	1 Quarter
Net issuance of common stock upon exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$10.26M	USD	1 Quarter
Net issuance of common stock upon exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$15.44M	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$6.98M	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$6.09M	USD	1 Quarter
Share repurchases, including fees	`StockRepurchasedAndRetiredDuringPeriodValue`	$1.11B	USD	1 Quarter
Share repurchases, including fees	`StockRepurchasedAndRetiredDuringPeriodValue`	$775.21M	USD	1 Quarter
Share repurchases, including fees, shares	`StockRepurchasedAndRetiredDuringPeriodShares`	1.36M	shares	1 Quarter
Share repurchases, including fees, shares	`StockRepurchasedAndRetiredDuringPeriodShares`	1.17M	shares	1 Quarter
Excise tax on share repurchases	`StockholdersEquityOther`	$11.12M	USD	1 Quarter
Balance at end of period	`StockholdersEquity`	$-1.06B	USD	Point-in-time
Balance at end of period	`StockholdersEquity`	$-1.63B	USD	Point-in-time
Balance at end of period	`StockholdersEquity`	$-66.42M	USD	Point-in-time
Balance at end of period	`StockholdersEquity`	$-328.27M	USD	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	61.04M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	62.35M	shares	Point-in-time

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$481.88M	USD	1 Quarter
Net income	`NetIncomeLoss`	$516.88M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$18.90M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$5.06M	USD	1 Quarter
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$5.06M	USD	1 Quarter
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$18.90M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$535.78M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$486.94M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.