Advance Auto Parts 2003 Annual Report Download - page 48

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To the Board of Directors and Stockholders of
Advance Auto Parts, Inc.
Roanoke, Virginia
We have audited the accompanying consolidated balance sheets of Advance Auto Parts, Inc. and subsidiaries (the
Company) as of January 3, 2004 and December 28, 2002, and the related consolidated statements of operations, stockhold-
ers’ equity, and cash flows for each of the three years in the period ended January 3, 2004. These financial statements are
the responsibility of the Company’s management. Our responsibility is to express an opinion on the financial statements
based on our audits.
We conducted our audits in accordance with auditing standards generally accepted in the United States of America.
Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts
and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant
estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits
provide a reasonable basis for our opinion.
In our opinion, such consolidated financial statements present fairly, in all material respects, the financial position of
Advance Auto Parts, Inc. and subsidiaries as of January 3, 2004 and December 28, 2002, and the results of their operations
and their cash flows for each of the three years in the period ended January 3, 2004, in conformity with accounting principles
generally accepted in the United States of America.
As discussed in Note 2 to the consolidated financial statements, effective December 29, 2002, the Company changed
its financial statement classification of losses from the extinguishment of debt to conform with Statement of Financial
Accounting Standards No. 145, Rescission of FASB Statements No. 4, 44 and 64, Amendment of FASB Statement No. 13
and Technical Corrections.
McLean, Virginia
March 11, 2004
INDEPENDENT AUDITORS’ REPORT
Page 46