Advance Auto Parts 2009 Annual Report Download - page 10

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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.
Darren R. Jackson
Chief Executive Officer
Mike Norona
Executive Vice President, Chief Financial Officer
(1)
Our fiscal year sales results reported in the referenced charts have been reported on a comparable operating basis to exclude the 53rd week results in fiscal 2008. Refer to
"Selected Consolidated Financial Data" on page 17 of our 2009 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. Our earnings per diluted share reported in the referenced chart has been reported on a comparable operating basis to exclude store
divestiture expenses in fiscal 2009 and the results from the 53rd week and non-cash inventory adjustment in fiscal 2008. Refer to the introduction of "Management’s Discussion
and Analysis of Financial Condition and Results of Operations" on page 21 of our 2009 Form 10-K in this Annual Report for further details of these items.
8
$4,617
$4,265
$4,844
06
05 07 08 09 06
05 07 08 09 06
05 07 08 09 06
05 07 08 09
$5,053
$5,413
3,082
2,872
3,261
3,368
3,420
1,551
1,555
1,527
1,524
1,595
$2.16
$2.13
$2.28
$2.64
$3.00
Average Sales Per Store
(in thousands)
Sales
(in millions)
Number of Stores
Earnings per Diluted Share
Advance Auto Parts | 2009 Annual Report
Comparable Operating Metrics
(1)