AutoZone 2014 Annual Report Download - page 143

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73
Note S – Quarterly Summary (1)
(Unaudited)
Twelve Weeks Ended
Sixteen
Weeks Ended
(in thousands, except per share data)
November 23,
2013
February 15,
2014
May 10,
2014
August 30,
2014(2)
Net sales .......................................... $ 2,093,578 $ 1,990,494 $ 2,341,545 $ 3,049,696
Gross profit ..................................... 1,085,697 1,037,035 1,216,958 1,595,216
Operating profit ............................... 383,726 337,344 478,952 630,201
Income before income taxes............ 341,295 297,854
442,790 580,775
Net income ...................................... 218,087 192,830
285,157 373,671
Basic earnings per share .................. 6.39 5.73
8.62 11.50
Diluted earnings per share ............... 6.29 5.63
8.46 11.28
Twelve Weeks Ended
Seventeen
Weeks Ended
(in thousands, except per share data)
November 17,
2012
February 9,
2013
May 4,
2013
August 31,
2013(2)
Net sales .......................................... $ 1,991,040 $ 1,855,198 $ 2,205,878 $ 3,095,414
Gross profit ..................................... 1,031,866 961,981 1,142,713 1,604,376
Operating profit ............................... 363,276 317,571 456,030 636,220
Income before income taxes............ 322,172 276,248
413,939 575,324
Net income ...................................... 203,452 176,247
265,583 371,199
Basic earnings per share .................. 5.52 4.86
7.39 10.59
Diluted earnings per share ............... 5.41 4.78
7.27 10.42
(1) The sum of quarterly amounts may not equal the annual amounts reported due to rounding. In addition, the
earnings per share amounts are computed independently for each quarter while the full year is based on the
annual weighted average shares outstanding.
(2) The fourth quarter for fiscal 2014 is based on a 16-week period while fiscal 2013 is based on a 17-week
period. All other quarters presented are based on a 12-week period.
Note T – Subsequent Event
Subsequent to August 30, 2014, the Company purchased Interamerican Motor Corporation (“IMC”), the second
largest distributor of OE quality import replacement parts in the United States, for approximately $80 million.
IMC specializes in parts coverage for European and Asian cars, and it currently operates 17 branches. The
transaction closed on September 27, 2014, and was financed with commercial paper borrowings.
Item 9. Changes In and Disagreements with Accountants on Accounting and Financial Disclosure
Not applicable.
Item 9A. Controls and Procedures
As of August 30, 2014, an evaluation was performed under the supervision and with the participation of
AutoZone’s management, including the Chief Executive Officer and the Chief Financial Officer, of the
effectiveness of the design and operation of our disclosure controls and procedures, as defined in Rules 13a-15(e)
and 15d-15(e) under the Exchange Act, as amended. Based on that evaluation, our management, including the
Chief Executive Officer and the Chief Financial Officer, concluded that our disclosure controls and procedures
were effective. During or subsequent to the quarter ended August 30, 2014, there were no changes in our internal
controls that have materially affected or are reasonably likely to materially affect, internal controls over financial
reporting.
10-K