Advance Auto Parts 2015 Annual Report Download - page 96

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ADVANCE AUTO PARTS, INC. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
January 2, 2016, January 3, 2015 and December 28, 2013
(in thousands, except per share data)
F-42
Condensed Consolidating Statements of Operations
For Fiscal 2015
Advance
Auto Parts,
Inc.
Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries Eliminations Consolidated
Net sales $ — $ 9,432,116 $ 593,606 $ (288,704) $ 9,737,018
Cost of sales, including purchasing and
warehousing costs — 5,172,938 430,012 (288,704) 5,314,246
Gross profit — 4,259,178 163,594 — 4,422,772
Selling, general and administrative
expenses 24,186 3,536,697 93,852 (57,743) 3,596,992
Operating (loss) income (24,186) 722,481 69,742 57,743 825,780
Other, net:
Interest expense (52,210) (13,378) 180 — (65,408)
Other income (expense), net 76,987 (19,699)(7,029)(57,743)(7,484)
Total other, net 24,777 (33,077)(6,849)(57,743)(72,892)
Income before provision for income taxes 591 689,404 62,893 — 752,888
Provision for income taxes 1,220 268,571 9,699 — 279,490
(Loss) income before equity in earnings of
subsidiaries (629) 420,833 53,194 — 473,398
Equity in earnings of subsidiaries 474,027 53,194 — (527,221)—
Net income $ 473,398 $ 474,027 $ 53,194 $ (527,221) $ 473,398
Condensed Consolidating Statements of Operations
For Fiscal 2014
Advance
Auto Parts,
Inc.
Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries Eliminations Consolidated
Net sales $ — $ 9,530,953 $ 527,595 $ (214,687) $ 9,843,861
Cost of sales, including purchasing and
warehousing costs — 5,231,421 373,514 (214,687) 5,390,248
Gross profit — 4,299,532 154,081 — 4,453,613
Selling, general and administrative
expenses 14,504 3,541,370 102,370 (56,341) 3,601,903
Operating (loss) income (14,504) 758,162 51,711 56,341 851,710
Other, net:
Interest expense (52,946) (20,334)(128)—
(73,408)
Other income (expense), net 67,470 (9,140) 1,103 (56,341) 3,092
Total other, net 14,524 (29,474) 975 (56,341)(70,316)
Income before provision for income taxes 20 728,688 52,686 — 781,394
Provision for income taxes 296 277,769 9,504 — 287,569
(Loss) Income before equity in earnings of
subsidiaries (276) 450,919 43,182 — 493,825
Equity in earnings of subsidiaries 494,101 43,182 — (537,283)—
Net income $ 493,825 $ 494,101 $ 43,182 $ (537,283) $ 493,825