Advance Auto Parts 2012 Annual Report Download - page 70

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F-25
11. Other Current and Long-term Liabilities:
Other current liabilities consist of the following:
December 29,
2012
December 31,
2011
Deferred income taxes $ 134,279 $ 126,116
Other 15,279 21,982
Total current liabilities $ 149,558 $ 148,098
Other long-term liabilities consist of the following:
December 29,
2012
December 31,
2011
Deferred income taxes $ 100,235 $ 73,165
Self-insurance reserves 49,224 49,132
Other 89,562 82,532
Total long-term liabilities $ 239,021 $ 204,829
12. Stock Repurchase Program:
The Company’s stock repurchase program allows it to repurchase its common stock on the open market or in privately
negotiated transactions from time to time in accordance with the requirements of the SEC. The Company's $500,000 stock
repurchase program in place as of December 29, 2012 was authorized by its Board of Directors on May 14, 2012.
During Fiscal 2012, the Company repurchased 257 shares of its common stock at an aggregate cost of $19,589, or an
average price of $76.18 per share under its stock repurchase program. The Company had $492,385 remaining under its stock
repurchase program as of December 29, 2012. The Company repurchased 91 shares of its common stock at an aggregate cost of
$7,506, or an average price of $82.42 per share, in connection with the net settlement of shares issued as a result of the vesting
of restricted stock. The Company also retired 33,738 shares of treasury stock during Fiscal 2012.
During Fiscal 2011, the Company repurchased 9,912 shares of its common stock at an aggregate cost of $609,650, or an
average price of $61.51 per share. Additionally, the Company repurchased 102 shares of its common stock at an aggregate cost
of $6,505, or an average price of $63.72 per share, in connection with the net settlement of shares issued as a result of the
vesting of restricted stock.
At January 1, 2011, 225 shares repurchased during Fiscal 2010 at a cost of $14,994 had not settled. These shares settled
subsequent to January 1, 2011.
13. Earnings per Share:
Certain of the Company’s shares granted to Team Members in the form of restricted stock are considered participating
securities which require the use of the two-class method for the computation of basic and diluted earnings per share. For Fiscal
2012, 2011 and 2010, earnings of $870, $1,055 and $1,552, respectively, were allocated to the participating securities.
Diluted earnings per share are calculated by including the effect of dilutive securities. Share-based awards to purchase
approximately 221, 56 and 3 shares of common stock that had an exercise price in excess of the average market price of the
common stock during Fiscal 2012, 2011 and 2010, respectively, were not included in the calculation of diluted earnings per
share because they are anti-dilutive.
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)