Advance Auto Parts 2008 Annual Report Download - page 11

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D
ARREN
R. J
ACKSON
CHIEF EXECUTIVE OFFICER
M
ICHAEL
A. N
ORONA
EXECUTIVE VICE PRESIDENT, CHIEF FINANCIAL OFFICER AND SECRETARY
MANAGEMENT’S RESPONSIBILITY FOR FINANCIAL STATEMENTS
The consolidated financial statements and related financial information presented in this Annual Report have been prepared with integrity,
consistency and objectivity and are the responsibility of the management of Advance Auto Parts, Inc. (the Company). The consolidated
financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and,
as such, include amounts based on management’s best estimates and judgments.
The Company’s consolidated financial statements have been audited by the independent registered public accounting firm, Deloitte & Touche
LLP, who conducted their audit in accordance with the standards of the Public Company Accounting Oversight Board (United States). The
independent registered public accounting firm’s responsibility is to express an opinion as to whether such consolidated financial statements
present fairly, in all material respects, the Company’s financial position, results of operations and cash flows in accordance with accounting
principles generally accepted in the United States of America.
The Audit Committee of the Board of Directors, consisting solely of outside directors, meets periodically with members of Company management,
the Company’s internal audit department and the Company’s independent registered public accounting firm to discuss accounting, auditing,
control and other financial reporting matters. The committee is responsible for the oversight of the Company’s internal audit department and
independent registered public accounting firm.
The certifications of the Company’s Chief Executive Officer and Chief Financial Officer required by Section 302 of the Sarbanes-Oxley Act of
2002 are filed as exhibits 31.1 and 31.2, respectively, in its Form 10-K filed on March 4, 2009 with the Securities and Exchange Commission.
In addition, the Company’s Chief Executive Officer has certified to the New York Stock Exchange (NYSE) that he is not aware of any violation
by the Company of the NYSE corporate governance listing standards.
Advance Auto Parts
2008 Annual Report
04
05
$3,770
$4,265
Sales (in millions)
07
06
$4,844
$4,617
04 05
06
$1,453
$1,555
$1,551
Average Sales Per Store
(1)
(in thousands)
08
07
$1,524
$1,527
04 05
06
$1.66
$2.13
$2.16
Net Income per Diluted Share
(1)
08
07
$2.65
$2.28
04 05
06
2,652
2,872
3,082
Number of Stores
08
07
3,368
3,261
(1)
Our fiscal 2008 financial results reported in the referenced charts have been reported on a comparable operating basis to exclude the 53rd week of fiscal 2008 and a non-cash inventory adjustment. Refer to the “Selected Consolidated Financial Data”
on page 17 of our 2008 Form 10-K included in this annual report for an explanation of Average Sales per Store as well as the corresponding financial results reported on a GAAP basis.
08
$5,142