10-Q Filing

ADVANCE AUTO PARTS INC CIK: 1158449 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001158449-19-000119`
Period End Date	20190430
Filing Date	20190522
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	aap-20190420.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 30 Cash Flow Statement 60 Stockholders Equity 2 Comprehensive Income 12

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Property and equipment, net of accumulated depreciation of $1,951,225 and $1,918,502	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.95B	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $1,951,225 and $1,918,502	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.92B	USD	Point-in-time
Preferred stock, nonvoting, $0.0001 par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, nonvoting, $0.0001 par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, voting, $0.0001 par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$896.53M	USD	Point-in-time
Common stock, voting, $0.0001 par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$546.94M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$639.14M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$537.33M	USD	Point-in-time
Receivables, net	`AccountsReceivableNetCurrent`	$684.42M	USD	Point-in-time
Receivables, net	`AccountsReceivableNetCurrent`	$624.97M	USD	Point-in-time
Inventories	`InventoryNet`	$4.43B	USD	Point-in-time
Inventories	`InventoryNet`	$4.36B	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$198.41M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$126.11M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.08B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$5.78B	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $1,951,225 and $1,918,502	`PropertyPlantAndEquipmentNet`	$1.36B	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $1,951,225 and $1,918,502	`PropertyPlantAndEquipmentNet`	$1.37B	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$2.37B	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	-	USD	Point-in-time
Goodwill	`Goodwill`	$990.24M	USD	Point-in-time
Goodwill	`Goodwill`	$991.24M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$527.70M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$550.59M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$46.24M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$48.38M	USD	Point-in-time
Assets, Total	`Assets`	$11.08B	USD	Point-in-time
Assets, Total	`Assets`	$9.04B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.17B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.28B	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$530.28M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$623.14M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$491.64M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$90.02M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.89B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.30B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$1.05B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$746.77M	USD	Point-in-time
Noncurrent operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Noncurrent operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$2.05B	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$318.35M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$310.40M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$124.07M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$239.81M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, nonvoting, $0.0001 par value	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, nonvoting, $0.0001 par value	`PreferredStockValue`	-	USD	Point-in-time
Common stock, voting, $0.0001 par value	`CommonStockValue`	$8.00K	USD	Point-in-time
Common stock, voting, $0.0001 par value	`CommonStockValue`	$8.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$706.36M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$694.80M	USD	Point-in-time
Treasury stock, at cost	`TreasuryStockValue`	$425.95M	USD	Point-in-time
Treasury stock, at cost	`TreasuryStockValue`	$560.25M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-44.19M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-40.04M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$3.44B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$3.33B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$3.42B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$3.55B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$3.55B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$3.55B	USD	Point-in-time
Liabilities and Stockholders' Equity, Total	`LiabilitiesAndStockholdersEquity`	$11.08B	USD	Point-in-time
Liabilities and Stockholders' Equity, Total	`LiabilitiesAndStockholdersEquity`	$9.04B	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$2.87B	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$2.95B	USD	1 Quarter
Cost of sales, including purchasing and warehousing costs	`CostOfGoodsAndServicesSold`	$1.60B	USD	1 Quarter
Cost of sales, including purchasing and warehousing costs	`CostOfGoodsAndServicesSold`	$1.65B	USD	1 Quarter
Gross profit	`GrossProfit`	$1.30B	USD	1 Quarter
Gross profit	`GrossProfit`	$1.27B	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.10B	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.07B	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$207.94M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$198.24M	USD	1 Quarter
Interest expense	`InterestIncomeExpenseNonoperatingNet`	$-17.68M	USD	1 Quarter
Interest expense	`InterestIncomeExpenseNonoperatingNet`	$-14.94M	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$-2.24M	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$458.00K	USD	1 Quarter
Total other, net	`NonoperatingIncomeExpense`	$-17.18M	USD	1 Quarter
Total other, net	`NonoperatingIncomeExpense`	$-17.22M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$181.02M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$190.76M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$48.26M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$44.29M	USD	1 Quarter
Net income	`NetIncomeLoss`	$142.50M	USD	1 Quarter
Net income	`NetIncomeLoss`	$136.73M	USD	1 Quarter
Basic earnings per common share	`EarningsPerShareBasic`	$1.85	USD	1 Quarter
Basic earnings per common share	`EarningsPerShareBasic`	$1.99	USD	1 Quarter
Weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	71.79M	shares	1 Quarter
Weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	73.98M	shares	1 Quarter
Diluted earnings per common share	`EarningsPerShareDiluted`	$1.84	USD	1 Quarter
Diluted earnings per common share	`EarningsPerShareDiluted`	$1.98	USD	1 Quarter
Weighted average common shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	72.10M	shares	1 Quarter
Weighted average common shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	74.20M	shares	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$142.50M	USD	1 Quarter
Net income	`NetIncomeLoss`	$136.73M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$69.89M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$71.69M	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$7.64M	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$10.98M	USD	1 Quarter
Loss on disposal and impairment of long-lived assets	`GainLossOnSalesOfAssetsAndAssetImpairmentCharges`	$-125.00K	USD	1 Quarter
Loss on disposal and impairment of long-lived assets	`GainLossOnSalesOfAssetsAndAssetImpairmentCharges`	$-3.21M	USD	1 Quarter
(Benefit) provision for deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$7.34M	USD	1 Quarter
(Benefit) provision for deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-250.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-11.35M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-672.00K	USD	1 Quarter
Receivables, net	`IncreaseDecreaseInAccountsReceivable`	$14.01M	USD	1 Quarter
Receivables, net	`IncreaseDecreaseInAccountsReceivable`	$58.76M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$64.37M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$68.74M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.95M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$102.94M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$20.77M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-62.75M	USD	1 Quarter
Other assets and liabilities, net	`IncreaseDecreaseInOperatingCapital`	$-57.26M	USD	1 Quarter
Other assets and liabilities, net	`IncreaseDecreaseInOperatingCapital`	$12.75M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$204.54M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$153.97M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$61.31M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$34.47M	USD	1 Quarter
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$530.00K	USD	1 Quarter
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$553.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-60.76M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-33.94M	USD	1 Quarter
Decrease in bank overdrafts	`ProceedsFromRepaymentsOfBankOverdrafts`	$-50.58M	USD	1 Quarter
Decrease in bank overdrafts	`ProceedsFromRepaymentsOfBankOverdrafts`	$-12.10M	USD	1 Quarter
Redemption of senior unsecured notes	`RepaymentsOfUnsecuredDebt`	-	USD	1 Quarter
Redemption of senior unsecured notes	`RepaymentsOfUnsecuredDebt`	$310.05M	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$8.72M	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$8.93M	USD	1 Quarter
Proceeds from the issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$678.00K	USD	1 Quarter
Proceeds from the issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$754.00K	USD	1 Quarter
Tax withholdings related to the exercise of stock appreciation rights	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$99.00K	USD	1 Quarter
Tax withholdings related to the exercise of stock appreciation rights	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$93.00K	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$134.29M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$5.22M	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-116.00K	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-1.16M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-26.76M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-503.18M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$196.00K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-1.06M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-359.20M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$92.21M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$896.53M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$546.94M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$639.14M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$537.33M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$896.53M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$546.94M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$639.14M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$537.33M	USD	Point-in-time
Accrued purchases of property and equipment	`NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1`	$8.59M	USD	1 Quarter
Accrued purchases of property and equipment	`NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1`	$14.19M	USD	1 Quarter

Stockholders Equity 2 line items

Line Item	Tag	Value	Unit	Period
Cash dividends declared ($0.06 per common share)	`CommonStockDividendsPerShareDeclared`	$0.06	USD	1 Quarter
Cash dividends declared ($0.06 per common share)	`CommonStockDividendsPerShareDeclared`	$0.06	USD	1 Quarter

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Changes in net unrecognized other postretirement benefit income (costs), net of tax of $17 and $32	`OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodTax`	$32.00K	USD	1 Quarter
Changes in net unrecognized other postretirement benefit income (costs), net of tax of $17 and $32	`OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodTax`	$17.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$142.50M	USD	1 Quarter
Net income	`NetIncomeLoss`	$136.73M	USD	1 Quarter
Changes in net unrecognized other postretirement benefit income (costs), net of tax of $17 and $32	`OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax`	$95.00K	USD	1 Quarter
Changes in net unrecognized other postretirement benefit income (costs), net of tax of $17 and $32	`OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax`	$-91.00K	USD	1 Quarter
Currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$4.06M	USD	1 Quarter
Currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-3.77M	USD	1 Quarter
Total other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-3.86M	USD	1 Quarter
Total other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$4.16M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$146.66M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$132.87M	USD	1 Quarter

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