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10-Q Filing

ADVANCE AUTO PARTS INC CIK: 1158449 Q1 2023
Filing Information
Form Type 10-Q
Accession Number 0001158449-23-000142
Period End Date 20230430
Filing Date 20230606
Fiscal Year 2023
Fiscal Period Q1
XBRL Instance aap-20230422_htm.xml
Balance Sheet 68 line items
Line Item Tag Value Unit Period
Accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $2.67M USD Point-in-time
Accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $2.59M USD Point-in-time
Preferred stock par value (in usd per share) PreferredStockParOrStatedValuePerShare $0.00 USD Point-in-time
Preferred stock par value (in usd per share) PreferredStockParOrStatedValuePerShare $0.00 USD Point-in-time
Common stock par value (in usd per share) CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $269.28M USD Point-in-time
Common stock par value (in usd per share) CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $226.50M USD Point-in-time
Receivables, net AccountsReceivableNetCurrent $782.09M USD Point-in-time
Receivables, net AccountsReceivableNetCurrent $698.61M USD Point-in-time
Inventories InventoryNet $5.02B USD Point-in-time
Inventories InventoryNet $4.92B USD Point-in-time
Other current assets OtherAssetsCurrent $177.13M USD Point-in-time
Other current assets OtherAssetsCurrent $163.69M USD Point-in-time
Total current assets AssetsCurrent $6.20B USD Point-in-time
Total current assets AssetsCurrent $6.05B USD Point-in-time
Property and equipment, net of accumulated depreciation of $2,672,665 and $2,590,382 PropertyPlantAndEquipmentNet $1.69B USD Point-in-time
Property and equipment, net of accumulated depreciation of $2,672,665 and $2,590,382 PropertyPlantAndEquipmentNet $1.69B USD Point-in-time
Operating lease right-of-use assets OperatingLeaseRightOfUseAsset $2.63B USD Point-in-time
Operating lease right-of-use assets OperatingLeaseRightOfUseAsset $2.61B USD Point-in-time
Goodwill Goodwill $990.47M USD Point-in-time
Goodwill Goodwill $990.57M USD Point-in-time
Other intangible assets, net IntangibleAssetsNetExcludingGoodwill $612.10M USD Point-in-time
Other intangible assets, net IntangibleAssetsNetExcludingGoodwill $620.90M USD Point-in-time
Other assets OtherAssetsNoncurrent $54.63M USD Point-in-time
Other assets OtherAssetsNoncurrent $62.43M USD Point-in-time
Total assets Assets $12.02B USD Point-in-time
Total assets Assets $12.18B USD Point-in-time
Accounts payable AccountsPayableCurrent $4.12B USD Point-in-time
Accounts payable AccountsPayableCurrent $3.68B USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $718.29M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $634.45M USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $116.00M USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $185.00M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $466.42M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $427.48M USD Point-in-time
Total current liabilities LiabilitiesCurrent $5.37B USD Point-in-time
Total current liabilities LiabilitiesCurrent $4.98B USD Point-in-time
Long-term debt LongTermDebt $1.78B USD Point-in-time
Long-term debt LongTermDebt $1.19B USD Point-in-time
Noncurrent operating lease liabilities OperatingLeaseLiabilityNoncurrent $2.28B USD Point-in-time
Noncurrent operating lease liabilities OperatingLeaseLiabilityNoncurrent $2.27B USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $416.00M USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $422.98M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $87.21M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $85.76M USD Point-in-time
Total Liabilities Liabilities $9.55B USD Point-in-time
Total Liabilities Liabilities $9.34B 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 $897.56M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $914.18M USD Point-in-time
Treasury stock, at cost TreasuryStockCommonValue $2.93B USD Point-in-time
Treasury stock, at cost TreasuryStockCommonValue $2.92B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-45.14M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-44.35M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $4.70B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $4.74B USD Point-in-time
Total stockholders equity StockholdersEquity $3.13B USD Point-in-time
Total stockholders equity StockholdersEquity $2.91B USD Point-in-time
Total stockholders equity StockholdersEquity $2.68B USD Point-in-time
Total stockholders equity StockholdersEquity $2.64B USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $12.02B USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $12.18B USD Point-in-time
Income Statement 32 line items
Line Item Tag Value Unit Period
Net sales RevenueFromContractWithCustomerExcludingAssessedTax $3.42B USD 1 Quarter
Net sales RevenueFromContractWithCustomerExcludingAssessedTax $3.37B USD 1 Quarter
Cost of sales, including purchasing and warehousing costs CostOfGoodsAndServicesSold $1.95B USD 1 Quarter
Cost of sales, including purchasing and warehousing costs CostOfGoodsAndServicesSold $1.87B USD 1 Quarter
Gross profit GrossProfit $1.47B USD 1 Quarter
Gross profit GrossProfit $1.51B USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $1.38B USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $1.30B USD 1 Quarter
Operating income OperatingIncomeLoss $90.00M USD 1 Quarter
Operating income OperatingIncomeLoss $203.27M USD 1 Quarter
Interest expense InterestIncomeExpenseNonoperatingNet $-29.72M USD 1 Quarter
Interest expense InterestIncomeExpenseNonoperatingNet $-12.87M USD 1 Quarter
Loss on early redemption of senior unsecured notes GainsLossesOnExtinguishmentOfDebt - USD 1 Quarter
Loss on early redemption of senior unsecured notes GainsLossesOnExtinguishmentOfDebt $-7.41M USD 1 Quarter
Other (expense) income, net OtherNonoperatingIncomeExpense $136.00K USD 1 Quarter
Other (expense) income, net OtherNonoperatingIncomeExpense $-674.00K USD 1 Quarter
Total other, net NonoperatingIncomeExpense $-30.39M USD 1 Quarter
Total other, net NonoperatingIncomeExpense $-20.14M USD 1 Quarter
Income before provision for income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $59.61M USD 1 Quarter
Income before provision for income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $183.13M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $16.96M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $43.34M USD 1 Quarter
Net income NetIncomeLoss $42.65M USD 1 Quarter
Net income NetIncomeLoss $139.79M USD 1 Quarter
Basic earnings per common share (in dollars per share) EarningsPerShareBasic $0.72 USD 1 Quarter
Basic earnings per common share (in dollars per share) EarningsPerShareBasic $2.28 USD 1 Quarter
Weighted-average common shares outstanding WeightedAverageNumberOfSharesOutstandingBasic 61.26M shares 1 Quarter
Weighted-average common shares outstanding WeightedAverageNumberOfSharesOutstandingBasic 59.33M shares 1 Quarter
Diluted earnings per common share (in dollars per share) EarningsPerShareDiluted $2.26 USD 1 Quarter
Diluted earnings per common share (in dollars per share) EarningsPerShareDiluted $0.72 USD 1 Quarter
Weighted-average common shares outstanding WeightedAverageNumberOfDilutedSharesOutstanding 61.73M shares 1 Quarter
Weighted-average common shares outstanding WeightedAverageNumberOfDilutedSharesOutstanding 59.54M shares 1 Quarter
Cash Flow Statement 62 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $42.65M USD 1 Quarter
Net income NetIncomeLoss $139.79M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $92.55M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $85.58M USD 1 Quarter
Share-based compensation ShareBasedCompensation $16.98M USD 1 Quarter
Share-based compensation ShareBasedCompensation $16.52M USD 1 Quarter
Loss and impairment of long-lived assets GainLossOnSalesOfAssetsAndAssetImpairmentCharges $-1.24M USD 1 Quarter
Loss and impairment of long-lived assets GainLossOnSalesOfAssetsAndAssetImpairmentCharges $-90.00K USD 1 Quarter
Loss on early redemption of senior unsecured notes GainsLossesOnExtinguishmentOfDebt - USD 1 Quarter
Loss on early redemption of senior unsecured notes GainsLossesOnExtinguishmentOfDebt $-7.41M USD 1 Quarter
Provision for deferred income taxes DeferredIncomeTaxExpenseBenefit $6.90M USD 1 Quarter
Provision for deferred income taxes DeferredIncomeTaxExpenseBenefit $9.68M USD 1 Quarter
Other OtherNoncashIncomeExpense $-391.00K USD 1 Quarter
Other OtherNoncashIncomeExpense $-1.02M USD 1 Quarter
Receivables, net IncreaseDecreaseInAccountsReceivable $83.37M USD 1 Quarter
Receivables, net IncreaseDecreaseInAccountsReceivable $174.90M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $100.18M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $119.55M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $20.23M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-441.00M USD 1 Quarter
Accrued expenses IncreaseDecreaseInAccruedLiabilities $85.03M USD 1 Quarter
Accrued expenses IncreaseDecreaseInAccruedLiabilities $-98.98M USD 1 Quarter
Other assets and liabilities, net IncreaseDecreaseInOtherOperatingCapitalNet $-56.56M USD 1 Quarter
Other assets and liabilities, net IncreaseDecreaseInOtherOperatingCapitalNet $-1.53M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $-378.87M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $-54.94M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $90.00M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $114.85M USD 1 Quarter
Proceeds from sales of property and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $828.00K USD 1 Quarter
Proceeds from sales of property and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $325.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-114.03M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-89.67M USD 1 Quarter
Borrowings under credit facilities ProceedsFromLinesOfCredit $2.89B USD 1 Quarter
Borrowings under credit facilities ProceedsFromLinesOfCredit $275.00M USD 1 Quarter
Payments on credit facilities RepaymentsOfLinesOfCredit $2.96B USD 1 Quarter
Payments on credit facilities RepaymentsOfLinesOfCredit $275.00M USD 1 Quarter
Borrowings on senior unsecured notes ProceedsFromIssuanceOfDebt $348.62M USD 1 Quarter
Borrowings on senior unsecured notes ProceedsFromIssuanceOfDebt $599.57M USD 1 Quarter
Payments on senior unsecured notes RepaymentsOfUnsecuredDebt $201.08M USD 1 Quarter
Payments on senior unsecured notes RepaymentsOfUnsecuredDebt - USD 1 Quarter
Dividends paid PaymentsOfDividends $89.49M USD 1 Quarter
Dividends paid PaymentsOfDividends $154.80M USD 1 Quarter
Repurchases of common stock PaymentsForRepurchaseOfCommonStock $264.47M USD 1 Quarter
Repurchases of common stock PaymentsForRepurchaseOfCommonStock $12.61M USD 1 Quarter
Other, net ProceedsFromPaymentsForOtherFinancingActivities $-2.82M USD 1 Quarter
Other, net ProceedsFromPaymentsForOtherFinancingActivities $-2.01M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-273.74M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $425.66M USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-19.99M USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $93.00K USD 1 Quarter
Net decrease in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-462.69M USD 1 Quarter
Net decrease in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-42.78M USD 1 Quarter
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $226.50M USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $601.43M USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $138.73M USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $269.28M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $226.50M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $601.43M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $138.73M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $269.28M USD Point-in-time
Accrued purchases of property and equipment NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1 $15.27M USD 1 Quarter
Accrued purchases of property and equipment NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1 $6.91M USD 1 Quarter
Stockholders Equity 26 line items
Line Item Tag Value Unit Period
Cash dividends declared (per common share) CommonStockDividendsPerShareDeclared $1.50 USD 1 Quarter
Cash dividends declared (per common share) CommonStockDividendsPerShareDeclared $1.50 USD 1 Quarter
Balance StockholdersEquity $3.13B USD Point-in-time
Balance StockholdersEquity $2.91B USD Point-in-time
Balance StockholdersEquity $2.68B USD Point-in-time
Balance StockholdersEquity $2.64B USD Point-in-time
Net income NetIncomeLoss $42.65M USD 1 Quarter
Net income NetIncomeLoss $139.79M USD 1 Quarter
Total other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-18.44M USD 1 Quarter
Total other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $788.00K USD 1 Quarter
Total other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-18.44M USD 1 Quarter
Issuance of shares upon the exercise of stock options StockIssuedDuringPeriodValueStockOptionsExercised $233.00K USD 1 Quarter
Share-based compensation AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition $16.52M USD 1 Quarter
Share-based compensation AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition $16.98M USD 1 Quarter
Stock issued under employee stock purchase plan StockIssuedDuringPeriodValueEmployeeStockPurchasePlan $933.00K USD 1 Quarter
Stock issued under employee stock purchase plan StockIssuedDuringPeriodValueEmployeeStockPurchasePlan $1.10M USD 1 Quarter
Repurchases of common stock TreasuryStockValueAcquiredCostMethod $12.61M USD 1 Quarter
Repurchases of common stock TreasuryStockValueAcquiredCostMethod $264.47M USD 1 Quarter
Cash dividends declared DividendsCash $89.58M USD 1 Quarter
Cash dividends declared DividendsCash $92.54M USD 1 Quarter
Other StockholdersEquityOther $-1.10M USD 1 Quarter
Other StockholdersEquityOther $-1.00M USD 1 Quarter
Balance StockholdersEquity $3.13B USD Point-in-time
Balance StockholdersEquity $2.91B USD Point-in-time
Balance StockholdersEquity $2.68B USD Point-in-time
Balance StockholdersEquity $2.64B USD Point-in-time
Comprehensive Income 13 line items
Line Item Tag Value Unit Period
Changes in net unrecognized other postretirment benefits, net of tax OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $70.00K USD 1 Quarter
Changes in net unrecognized other postretirment benefits, net of tax OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $9.00K USD 1 Quarter
Net income NetIncomeLoss $42.65M USD 1 Quarter
Net income NetIncomeLoss $139.79M USD 1 Quarter
Changes in net unrecognized other postretirement benefits, net of tax of $70 and $9 OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax $197.00K USD 1 Quarter
Changes in net unrecognized other postretirement benefits, net of tax of $70 and $9 OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax $24.00K USD 1 Quarter
Currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $591.00K USD 1 Quarter
Currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-18.46M USD 1 Quarter
Total other comprehensive (loss) income OtherComprehensiveIncomeLossNetOfTax $-18.44M USD 1 Quarter
Total other comprehensive (loss) income OtherComprehensiveIncomeLossNetOfTax $788.00K USD 1 Quarter
Total other comprehensive (loss) income OtherComprehensiveIncomeLossNetOfTax $-18.44M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $121.35M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $43.44M USD 1 Quarter

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

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