Advance Auto Parts 2005 Annual Report Download - page 37

December 31, January 1,
2005 2005
(in thousands, except per share data)
Assets
Current assets:
Cash and cash equivalents .......................................................................................................................................................................... $ 40,783 $ 56,321
Receivables, net .......................................................................................................................................................................................... 94,689 101,969
Inventories, net............................................................................................................................................................................................ 1,367,099 1,201,450
Other current assets .................................................................................................................................................................................... 45,369 17,687
Total current assets.................................................................................................................................................................................. 1,547,940 1,377,427
Property and equipment, net of accumulated depreciation of $564,558 and $474,820 ............................................................................... 898,851 786,212
Assets held for sale ........................................................................................................................................................................................ 8,198 18,298
Goodwill .......................................................................................................................................................................................................... 67,094 2,720
Other assets, net ............................................................................................................................................................................................ 20,066 17,305
$2,542,149 $2,201,962
Liabilities and Stockholders’ Equity
Current liabilities:
Bank overdrafts ........................................................................................................................................................................................... $ 50,170 $ 20,184
Current portion of long-term debt .............................................................................................................................................................. 32,760 31,700
Financed vendor accounts payable ............................................................................................................................................................. 119,351 56,896
Accounts payable ........................................................................................................................................................................................ 629,248 587,948
Accrued expenses ....................................................................................................................................................................................... 265,437 198,479
Other current liabilities............................................................................................................................................................................... 44,498 65,918
Total current liabilities ............................................................................................................................................................................ 1,141,464 961,125
Long-term debt ............................................................................................................................................................................................... 406,040 438,300
Other long-term liabilities ............................................................................................................................................................................. 74,874 80,222
Commitments and contingencies
Stockholders’ equity:
Preferred stock, nonvoting, $0.0001 par value,
10,000 shares authorized; no shares issued or outstanding .................................................................................................................... ——
Common stock, voting, $0.0001 par value, 200,000
shares authorized; 109,637 shares issued and 108,198 outstanding
in 2005 and 113,917 issued and 108,367 outstanding in 2004............................................................................................................... 11 11
Additional paid-in capital ........................................................................................................................................................................... 564,965 695,212
Treasury stock, at cost, 1,439 and 5,550 shares ......................................................................................................................................... (55,668) (146,370)
Accumulated other comprehensive income................................................................................................................................................ 3,090 814
Retained earnings........................................................................................................................................................................................ 407,373 172,648
Total stockholders’ equity ....................................................................................................................................................................... 919,771 722,315
$2,542,149 $2,201,962
The accompanying notes to consolidated financial statements are an integral part of these statements.
Advance Auto Parts I Annual Report 2005 I 35
CONSOLIDATED BALANCE SHEETS
December 31, 2005 and January 1, 2005