Advance Auto Parts 2012 Annual Report Download - page 69

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F-24
9. Property and Equipment:
Property and equipment consists of the following:
Original
Useful Lives
December 29,
2012
December 31,
2011
Land and land improvements 0 - 10 years $ 403,401 $ 359,916
Buildings 30 - 40 years 432,274 392,564
Building and leasehold improvements 3 - 30 years 309,194 290,354
Furniture, fixtures and equipment 3 - 20 years 1,152,778 1,012,116
Vehicles 2 - 5 years 19,490 22,657
Construction in progress 76,769 129,114
2,393,906 2,206,721
Less - Accumulated depreciation (1,102,147)(983,622)
Property and equipment, net $ 1,291,759 $ 1,223,099
Depreciation expense was $185,909, $174,219 and $163,378 for Fiscal 2012, 2011 and 2010, respectively. The Company
capitalized approximately $10,026, $6,258 and $4,875 incurred for the development of internal use computer software during
Fiscal 2012, 2011 and 2010, respectively. These costs are included in the furniture, fixtures and equipment category above and
are depreciated on the straight-line method over three to five years.
10. Accrued Expenses:
Accrued expenses consist of the following:
December 29,
2012
December 31,
2011
Payroll and related benefits $ 79,756 $ 89,676
Warranty reserves 38,425 38,847
Capital expenditures 26,142 35,648
Self-insurance reserves 45,324 49,812
Taxes payable 73,158 52,480
Other 116,834 119,283
Total accrued expenses $ 379,639 $ 385,746
The following table presents changes in the Company's warranty reserves:
December 29,
2012
December 31,
2011
January 1,
2011
Warranty reserves, beginning of period $ 38,847 $ 36,352 $ 30,387
Additions to warranty reserves 40,766 43,013 45,741
Reserves utilized (41,188)(40,518)(39,776)
Warranty reserves, end of period $ 38,425 $ 38,847 $ 36,352
ADVANCE AUTO PARTS, INC. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
December 29, 2012, December 31, 2011 and January 1, 2011
(in thousands, except per share data)