Condensed Consolidating Financial Statements (Tables)

4 Months Ended

Apr. 23, 2016

Condensed Consolidating Financial Statements [Abstract]

Condensed Balance Sheet [Table Text Block]

Condensed Consolidating Balance Sheets

As of April 23, 2016

	Advance Auto Parts, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	8	$	68,563	$	35,145	$	(8	)	$	103,708
Receivables, net	—		613,917		37,076		—			650,993
Inventories, net	—		4,242,073		190,895		—			4,432,968
Other current assets	12,691		76,889		1,749		(12,771		)	78,558
Total current assets	12,699		5,001,442		264,865		(12,779		)	5,266,227
Property and equipment, net of accumulated depreciation	146		1,422,432		10,120		—			1,432,698
Goodwill	—		943,320		50,422		—			993,742
Intangible assets, net	—		626,442		49,985		—			676,427
Other assets, net	9,766		69,080		789		(9,766		)	69,869
Investment in subsidiaries	2,706,735		344,783		—		(3,051,518		)	—
Intercompany note receivable	1,048,240		—		—		(1,048,240		)	—
Due from intercompany, net	—		—		333,654		(333,654		)	—
	$	3,777,586	$	8,407,499	$	709,835	$	(4,455,957	)	$	8,438,963
Liabilities and Stockholders' Equity
Current liabilities:
Current portion of long-term debt	$	—	$	598	$	—	$	—		$	598
Accounts payable	203		3,016,253		301,592		—			3,318,048
Accrued expenses	3,138		514,852		29,455		(12,771		)	534,674
Other current liabilities	—		43,997		11,254		(8		)	55,243
Total current liabilities	3,341		3,575,700		342,301		(12,779		)	3,908,563
Long-term debt	1,042,003		187,885		—		—			1,229,888
Deferred income taxes	—		431,785		20,275		(9,766		)	442,294
Other long-term liabilities	—		226,603		2,476		—			229,079
Intercompany note payable	—		1,048,240		—		(1,048,240		)	—
Due to intercompany, net	103,103		230,551		—		(333,654		)	—
Commitments and contingencies
Stockholders' equity	2,629,139		2,706,735		344,783		(3,051,518		)	2,629,139
	$	3,777,586	$	8,407,499	$	709,835	$	(4,455,957	)	$	8,438,963

Condensed Consolidating Balance Sheets

As of January 2, 2016

	Advance Auto Parts, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	8	$	63,458	$	27,324	$	(8	)	$	90,782
Receivables, net	—		568,106		29,682		—			597,788
Inventories, net	—		4,009,335		165,433		—			4,174,768
Other current assets	178		78,904		1,376		(3,050		)	77,408
Total current assets	186		4,719,803		223,815		(3,058		)	4,940,746
Property and equipment, net of accumulated depreciation	154		1,425,319		9,104		—			1,434,577
Goodwill	—		943,319		46,165		—			989,484
Intangible assets, net	—		640,583		46,542		—			687,125
Other assets, net	9,500		75,025		745		(9,501		)	75,769
Investment in subsidiaries	2,523,076		302,495		—		(2,825,571		)	—
Intercompany note receivable	1,048,161		—		—		(1,048,161		)	—
Due from intercompany, net	—		—		325,077		(325,077		)	—
	$	3,581,077	$	8,106,544	$	651,448	$	(4,211,368	)	$	8,127,701
Liabilities and Stockholders' Equity
Current liabilities:
Current portion of long-term debt	$	—	$	598	$	—	$	—		$	598
Accounts payable	103		2,903,287		300,532		—			3,203,922
Accrued expenses	2,378		529,076		24,759		(3,050		)	553,163
Other current liabilities	—		36,270		3,532		(8		)	39,794
Total current liabilities	2,481		3,469,231		328,823		(3,058		)	3,797,477
Long-term debt	1,041,584		164,713		—		—			1,206,297
Deferred income taxes	—		425,094		18,332		(9,501		)	433,925
Other long-term liabilities	—		227,556		1,798		—			229,354
Intercompany note payable	—		1,048,161		—		(1,048,161		)	—
Due to intercompany, net	76,364		248,713		—		(325,077		)	—
Commitments and contingencies
Stockholders' equity	2,460,648		2,523,076		302,495		(2,825,571		)	2,460,648
	$	3,581,077	$	8,106,544	$	651,448	$	(4,211,368	)	$	8,127,701

Condensed Income Statement [Table Text Block]

Condensed Consolidating Statements of Operations

For the Sixteen weeks ended April 23, 2016

	Advance Auto Parts, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminations			Consolidated
Net sales	$	—		$	2,892,386		$	188,975	$	(101,583	)	$	2,979,778
Cost of sales, including purchasing and warehousing costs	—			1,598,817			132,655		(101,583		)	1,629,889
Gross profit	—			1,293,569			56,320		—			1,349,889
Selling, general and administrative expenses	7,911			1,060,767			28,358		(18,146		)	1,078,890
Operating (loss) income	(7,911		)	232,802			27,962		18,146			270,999
Other, net:
Interest expense	(16,143		)	(2,823		)	23		—			(18,943		)
Other income (expense), net	23,542			(6,276		)	4,003		(18,146		)	3,123
Total other, net	7,399			(9,099		)	4,026		(18,146		)	(15,820		)
Income before provision for income taxes	(512		)	223,703			31,988		—			255,179
(Benefit) provision for income taxes	(1,430		)	91,275			6,521		—			96,366
Income before equity in earnings of subsidiaries	918			132,428			25,467		—			158,813
Equity in earnings of subsidiaries	157,895			25,467			—		(183,362		)	—
Net income	$	158,813		$	157,895		$	25,467	$	(183,362	)	$	158,813

Condensed Consolidating Statements of Operations

For the Sixteen weeks ended April 25, 2015

	Advance Auto Parts, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	2,955,591		$	171,385		$	(88,743	)	$	3,038,233
Cost of sales, including purchasing and warehousing costs	—			1,610,362			122,690			(88,743		)	1,644,309
Gross profit	—			1,345,229			48,695			—			1,393,924
Selling, general and administrative expenses	4,728			1,115,813			29,123			(18,268		)	1,131,396
Operating (loss) income	(4,728		)	229,416			19,572			18,268			262,528
Other, net:
Interest expense	(16,282		)	(5,582		)	87			—			(21,777		)
Other income (expense), net	21,012			(2,181		)	(2,471		)	(18,268		)	(1,908		)
Total other, net	4,730			(7,763		)	(2,384		)	(18,268		)	(23,685		)
Income before provision for income taxes	2			221,653			17,188			—			238,843
(Benefit) provision for income taxes	10			87,718			3,003			—			90,731
Income before equity in earnings of subsidiaries	(8		)	133,935			14,185			—			148,112
Equity in earnings of subsidiaries	148,120			14,185			—			(162,305		)	—
Net income	$	148,112		$	148,120		$	14,185		$	(162,305	)	$	148,112

Condensed Comprehensive Income [Table Text Block]

Condensed Consolidating Statements of Comprehensive Income

For the Sixteen Weeks ended April 23, 2016

	Advance Auto Parts, Inc.		Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminations			Consolidated
Net income	$	158,813	$	157,895		$	25,467	$	(183,362	)	$	158,813
Other comprehensive income:
Changes in net unrecognized other postretirement benefit costs	—		(182		)	—		—			(182		)
Currency translation adjustments	—		—			16,425		—			16,425
Equity in other comprehensive income of subsidiaries	16,243		16,425			—		(32,668		)	—
Other comprehensive income	16,243		16,243			16,425		(32,668		)	16,243
Comprehensive income	$	175,056	$	174,138		$	41,892	$	(216,030	)	$	175,056

Condensed Consolidating Statements of Comprehensive Income

For the Sixteen Weeks ended April 25, 2015

	Advance Auto Parts, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net income	$	148,112		$	148,120		$	14,185		$	(162,305	)	$	148,112
Other comprehensive loss:
Changes in net unrecognized other postretirement benefit costs	—			(178		)	—			—			(178		)
Currency translation adjustments	—			—			(7,463		)	—			(7,463		)
Equity in other comprehensive loss of subsidiaries	(7,641		)	(7,463		)	—			15,104			—
Other comprehensive loss	(7,641		)	(7,641		)	(7,463		)	15,104			(7,641		)
Comprehensive income	$	140,471		$	140,479		$	6,722		$	(147,201	)	$	140,471

Condensed Cash Flow Statement [Table Text Block]

Condensed Consolidating Statements of Cash Flows

For the Sixteen weeks ended April 23, 2016

	Advance Auto Parts, Inc.		Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net cash provided by (used in) operating activities	$	—	$	76,204		$	(903	)	$	—		$	75,301
Cash flows from investing activities:
Purchases of property and equipment	—		(88,303		)	(835		)	—			(89,138		)
Proceeds from sales of property and equipment	—		1,226			1			—			1,227
Net cash used in investing activities	—		(87,077		)	(834		)	—			(87,911		)
Cash flows from financing activities:
Increase in bank overdrafts	—		7,670			6,974			—			14,644
Borrowings under credit facilities	—		357,500			—			—			357,500
Payments on credit facilities	—		(331,500		)	—			—			(331,500		)
Dividends paid	—		(8,850		)	—			—			(8,850		)
Proceeds from the issuance of common stock, primarily for employee stock purchase plan	—		1,085			—			—			1,085
Tax withholdings related to the exercise of stock appreciation rights	—		(11,134		)	—			—			(11,134		)
Excess tax benefit from share-based compensation	—		13,145			—			—			13,145
Repurchase of common stock	—		(11,813		)	—			—			(11,813		)
Other	—		(125		)	—			—			(125		)
Net cash provided by financing activities	—		15,978			6,974			—			22,952
Effect of exchange rate changes on cash	—		—			2,584			—			2,584
Net increase in cash and cash equivalents	—		5,105			7,821			—			12,926
Cash and cash equivalents, beginning of period	8		63,458			27,324			(8		)	90,782
Cash and cash equivalents, end of period	$	8	$	68,563		$	35,145		$	(8	)	$	103,708

Condensed Consolidating Statements of Cash Flows

For the Sixteen weeks ended April 25, 2015

	Advance Auto Parts, Inc.		Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net cash provided by operating activities	$	—	$	98,629		$	3,582		$	—		$	102,211
Cash flows from investing activities:
Purchases of property and equipment	—		(56,157		)	(881		)	—			(57,038		)
Business acquisitions, net of cash acquired	—		(433		)	—			—			(433		)
Proceeds from sales of property and equipment	—		291			4			—			295
Net cash used in investing activities	—		(56,299		)	(877		)	—			(57,176		)
Cash flows from financing activities:
Increase in bank overdrafts	—		3,362			8,266			—			11,628
Borrowings under credit facilities	—		442,600			—			—			442,600
Payments on credit facilities	—		(469,300		)	—			—			(469,300		)
Dividends paid	—		(8,813		)	—			—			(8,813		)
Proceeds from the issuance of common stock, primarily for employee stock purchase plan	—		1,352			—			—			1,352
Tax withholdings related to the exercise of stock appreciation rights	—		(7,572		)	—			—			(7,572		)
Excess tax benefit from share-based compensation	—		6,498			—			—			6,498
Repurchase of common stock	—		(1,590		)	—			—			(1,590		)
Other	—		(110		)	—			—			(110		)
Net cash (used in) provided by financing activities	—		(33,573		)	8,266			—			(25,307		)
Effect of exchange rate changes on cash	—		—			(578		)	—			(578		)
Net increase in cash and cash equivalents	—		8,757			10,393			—			19,150
Cash and cash equivalents, beginning of period	9		65,345			39,326			(9		)	104,671
Cash and cash equivalents, end of period	$	9	$	74,102		$	49,719		$	(9	)	$	123,821