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The Open Road
2011 Annual Report
2011

Table of contents

  • Page 1
    2011 The Open Road 2011 Annual Report

  • Page 2
    ... generate strong returns for our shareholders by adhering to the culture and traditions on which our Company was founded. The Team's focus on providing exceptional customer service is the foundation for profitable growth and market share expansion in both new and existing O'Reilly stores. Financial...

  • Page 3
    Operating Income (in millions) 1,000 Same-Store Sales (percentage increase) Diluted Earnings Per Share 4.0 867 713 538 10 8.8 $3.71 2.95 2.23 800 8 3.0 600 6 4.6 3.7 4.6 2.0 1.67 400 305 336 4 1.48 200 2 1.5 1.0 0 '07 '08 '09 '10 '11 0 '07 '08 '09 '...

  • Page 4
    ...in all of our markets across 39 states. To be successful in this strategy we provide our teams with superior tools, training, and parts availability that are the foundation of our industry-leading customer service. Our enhanced level of services ranges from installing wiper blades for do-it-yourself...

  • Page 5
    ... "...installing wiper blades on a rainy day or installing a battery at 2 p.m. in 105 degree heat or going the extra mile by calling a vendor direct to find the filters for Kubato tractors that no one else has." Ray Torres McAllen, Texas "...simply taking time to listen to your customer, work with...

  • Page 6
    ... which includes 23 regionally located distribution centers across the country, gives us unmatched service capabilities to continue our successful growth. Our existing distribution infrastructure has the growth capacity of more than 500 stores. In 2012 we plan to open 180 net new stores to capitalize...

  • Page 7
    ...adjusted operating margin, which represents a 130 basis point Exceeding Customers Expectations Our Team Member's dedication to providing an unsurpassed level of service to our customers remains the backbone to our success. In our stores, distribution centers and corporate offices, we work extremely...

  • Page 8
    ... to work hard to establish O'Reilly as the most trusted source for customers' automotive needs. Our company strives to drive customers into our stores. From retail sales flyers, radio ads, and sports sponsorships, our goal is to create a strong brand awareness. These advertising programs do generate...

  • Page 9
    ...'s team of professional parts people can deliver our high standards of customer service and expense control from day one. The ability to grow over a large distribution footprint - we have capacity for over 500 additional stores spread out between 23 regional distribution centers covering 39 states...

  • Page 10
    ... to once again thank our Team Members whose contributions make the Company's success possible. We are excited about the opportunities that 2012 will bring, and we look forward to discussing our results in next year's Annual Report. continue to be disciplined in our analysis and will remain a very...

  • Page 11
    ... Patterson Springfield, Missouri 65802 (Address of principal executive offices, zip code) (417) 862-6708 (Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Title of Each Class Name of Each Exchange on which Registered Common Stock, $0.01...

  • Page 12
    ...the registrant's documents specified below are incorporated here by reference: Document Proxy Statement for 2012 Annual Meeting of Shareholders (to be filed pursuant to Regulation 14A within 120 days of the end of registrant's most recently completed fiscal year) Part III Form 10-K Part FORM 10-K 2

  • Page 13
    ... Disclosures about Market Risk Financial Statements and Supplementary Data Changes in and Disagreements with Accountants on Accounting and Financial Disclosure Controls and Procedures Other Information PART III Directors, Executive Officers and Corporate Governance Executive Compensation Security...

  • Page 14
    ... pumps, water pumps, brake system components, batteries, belts, hoses, temperature control, chassis parts and engine parts; maintenance items, such as oil, antifreeze, fluids, filters, wiper blades, lighting, engine additives and appearance products; and accessories, such as floor mats, seat covers...

  • Page 15
    ...efficient inventory control and management. We currently operate 23 regional DCs, which provide our stores with same-day or overnight access to an average of 123,000 stock keeping units (―SKUâ€-s), many of which are hard-to-find items not typically stocked by other auto parts retailers. We 5 FORM...

  • Page 16
    ...have added four additional DCs to the Western markets since the CSK acquisition. Our strategically located DCs provide converted CSK stores with same-day or overnight delivery access to an average of 123,000 SKUs and give these stores an important tool to provide industry-leading customer service to...

  • Page 17
    ...538 were employed at our corporate and regional offices. A union represents 49 stores (459 Team Members) in the Greater Bay Area in California, and has for many years. In addition, approximately 75 Team Members who drive over-the-road trucks in two of our DCs are represented by a labor union. Except...

  • Page 18
    ... located in close proximity to our professional service provider customers. The following table sets forth the geographic distribution and activity of our stores as of December 31, 2011 and 2010: December 31, 2010 Store % of Total Count Store Count State Texas 545 15.3% California 473 13.2% Missouri...

  • Page 19
    ... customer service. Moreover, our store automation systems capture detailed sales information which assists in store management, strategic planning, inventory control and distribution efficiency. New Store Site Selection: In selecting sites for new stores, we seek to strategically locate store sites...

  • Page 20
    ... regional field sales manager. Afterward, these Team Members spend one day per week calling on existing and potential professional service provider customers. Additionally, each Team Member engaged in such sales activities participates in quarterly advanced training programs for sales and business...

  • Page 21
    ... 38 states during 2011. We maintained our partnership with the National Association for Stock Car Racing (―NASCARâ€-) as the Official Auto Parts Store of NASCAR and were the title sponsor of five National Hot Rod Association ( ―NHRAâ€-) races from Pomona, California to Charlotte, North Carolina...

  • Page 22
    ... Repair Center Program, a program that provides professional service providers with business tools they can utilize to profitably grow and market their shops FORM 10-K Marketing to the Independently Owned Parts Store: Along with the daily operation and management of the DCs and the distribution of...

  • Page 23
    ...age 51, Chief Executive Officer and Co-President, has been an O'Reilly Team Member for 27 years. Mr. Henslee's O'Reilly career started as a parts specialist, and during his first five years he served in several positions in re tail store operations, including district manager. From there he advanced...

  • Page 24
    ... time. Mr. McFall's primary areas of responsibili ty are Finance, Accounting, Risk Management and Human Resources. Prior to joining O'Reilly, Mr. McFall held the position of Chief Financial Officer - Midwest Operation for CSK, following CSK's acquisition of Murray's Discount Auto Stores (―Murray...

  • Page 25
    ... debt levels, the availability of consumer credit, currency exchange rates, taxation, fuel prices, unemployment trends and other matters that influence consumer confidence and spending. Many of these factors are outside of our control. Our customers' purchases, including purchases of our products...

  • Page 26
    ... related to new store site development, the availability of qualified management personnel and general business and economic conditions. We cannot be sure that our growth plans for 2012 and beyond will be achieved. Failure to achieve our growth objectives may negatively impact the trading price...

  • Page 27
    ... key products at competitive prices could affect our financial health. Our business depends on developing and maintaining close relationships with our vendors and on our vendors' ability or willingness to sell quality products to us at favorable prices and terms. Many factors outside of our control...

  • Page 28
    ...delays in our ability to manage inventories or process customer transactions. Such a disruption in revenue could potentially have a negative impact on our results of operations and financial condition. FORM 10-K A breach of customer, Team Member or Company information could damage our reputation or...

  • Page 29
    ...regarding our DCs, returns facilities and corporate offices as of December 31, 2011: Operating Square Location Atlanta, GA Belleville, MI Billings, MT Dallas, TX Denver, CO Des Moines, IA Greensboro, NC Houston, TX Indianapolis, IN Kansas City, MO Knoxville, TN Little Rock, AR Lubbock, TX Mobile, AL...

  • Page 30
    ... quarter of 2011. The previously reported SEC civil action for alleged misconduct related to CSK's historical accounting practices against the former Chief Financial Officer, Controller and Director of Credit and Receivables of CSK, remains ongoing. However, on January 20, 2012, the parties filed...

  • Page 31
    ..., in part, upon the results of operations or cash flows for such period. However, at this time, management believes that the ultimate outcome of the pending matters, after consideration of applicable reserves should not have a material adverse effect on the Company's consolidated financial condition...

  • Page 32
    ...of individual participants represented by security position listings. The prices in the following table represent the high and low sales price for the Company's common stock as reported by Nasdaq. 2011 High First Quarter Second Quarter Third Quarter Fourth Quarter For the Year $ 60.69 65.51 71.72 81...

  • Page 33
    ... and CSK Auto Corporation (―CSKâ€-), respectively. The 2005 Midwest acquisition added 72 stores and the 2008 CSK acquisition added 1,342 stores to the O'Reilly store count. Financial results for these acquired companies have been included in the Company's consolidated financial statements from the...

  • Page 34
    ... inventory are certain procurement, warehousing and distribution center costs. The previous method was to recognize those costs as incurred, reported as a component of costs of goods sold. Adjusted for a 2 for 1 stock split in 2005. The pro forma income statement reflects the retroactive application...

  • Page 35
    ... by outside salesmen, sales to Team Members and sales during the one to two week period certain CSK branded stores were closed for conversion. (d) Same-store sales for 2008 include sales for stores acquired in the CSK acquisition. Comparable stores sales for stores operating on O'Reilly systems open...

  • Page 36
    ... customers and professional service providers. Our stores carry an extensive product line consisting of new and remanufactured automotive hard parts, maintenance items, accessories, a complete line of auto body paint and related materials, automotive tools and professional service provider service...

  • Page 37
    ... and gasoline prices stabilize, annual miles driven will return to historical growth rates and continue to drive demand for the industry. Number of U.S. Registered Vehicles, New Light Vehicle Registrations and Average Vehicle Age - The total number of vehicles on the road and the average age of the...

  • Page 38
    ... related to the offering, with the remainder for general corporate purposes, including share repurchases. FORM 10-K RESULTS OF OPERATIONS The following table includes income statement data as a percentage of sales for the years ended December 31, 2011, 2010 and 2009: 2011 Sales Cost of goods...

  • Page 39
    ... store managers with better tools to track and control inventory, resulting in improved inventory shrinkage. Distribution center efficiencies are the result of leverage on increased sales volumes and more tenured and experienced distribution center Team Members in our newer DCs. Professional service...

  • Page 40
    ...and stock sale profits previously received by the officer. This ―clawbackâ€- amount was included in ―Operating incomeâ€- on our Consolidated Statements of Income for the year ended December 31, 2011. Our results for the year ended December 31, 2011, also included one-time charges associated with...

  • Page 41
    ... the change in sales of stores open at least one year and exclude sales of specialty machinery, sales to independent parts stores, sales to Team Members and sales during the one- to two-week period certain CSK branded stores were closed for conversion. Comparable store sales for stores open at least...

  • Page 42
    ...store managers with better tools to track and control inventory resulting in improved inventory shrinkage. Commercial sales are growing at a faster rate than DIY sales as a result of the enhanced distribution model in our western markets, which supports the implementation of our dual market strategy...

  • Page 43
    ...level of average outstanding borrowings under our ABL Credit Facility. Included as a component of ―Other incomeâ€- for the year ended December 31, 2010, was a nonrecurring, non-operating gain of $12 million related to the favorable settlement of a note receivable acquired in the acquisition of CSK...

  • Page 44
    ... AND CAPITAL RESOURCES Our long-term business strategy requires capital to open new stores, fund strategic acquisitions, expand distribution infrastructure, operate and maintain existing stores and may include the opportunistic repurchase of shares of our common stock through our Boardapproved...

  • Page 45
    ... one-time nonrecurring payment received to settle a note receivable acquired in the CSK acquisition. We opened 170 net, new stores in 2011, 149 net, new stores in 2010 and 150 net, new stores in 2009. We plan to open 180 net, new stores in 2012. The costs associated with the opening of a new store...

  • Page 46
    ...of a 360-day year. The net proceeds from the issuance of the 4.625% Senior Notes due 2021 were used to pay fees and expenses related to the offering, with the remainder intended to be used to repay borrowings outstanding from time to time under the Revolving Credit Facility and for general corporate...

  • Page 47
    ... the sale and leaseback of nine O'Reilly Auto Parts stores and generated approximately $6 million of ca sh. The transaction did not result in a material gain or loss. The lease, which has been accounted for as an operating lease, calls for an initial term of 15 years with three five-year renewal...

  • Page 48
    ...average approximately 20% of the corresponding lease payments. We use various self-insurance mechanisms to provide for potential liabilities from workers' compensation, vehicle and general liability, and employee health care benefits. These liabilities are recorded on our Consolidated Balance Sheets...

  • Page 49
    ..., accessories and tools, is stated at the lower of cost or market. The extended nature of the life cycle of our products is such that the risk of obsolescence of our inventory is minimal. The products that we sell generally have applications in our markets for a relatively long period of time in...

  • Page 50
    ... apply alternative assumptions regarding the timing of payments or the applicable discount rate that could result in materially different estimates of the net present value of the liabilities. If self-insurance reserves were changed 10% from our estimated reserves at December 31, 2011, the financial...

  • Page 51
    ... shown. The unaudited operating data presented below should be read in conjunction with our consolidated financial statements and related notes included elsewhere in this annual report, and the other financial information included therein. Fiscal 2011 S econd Third Quarter Quarter 4.4% 1,479,318 718...

  • Page 52
    ... 2011-08 are effective for public companies for annual and interim testing performed for periods beginning after December 15, 2011, with early adoption permitted. The application of this guidance is not expected to have a material impact on our consolidated financial condition, results of operations...

  • Page 53
    ... Data FORM 10-K Index Management's Report on Internal Control over Financial Reporting Report of Independent Registered Public Accounting Firm: Internal Control over Financial Reporting Report of Independent Registered Public Accounting Firm: Financial Statements Consolidated Balance Sheets...

  • Page 54
    ... or timely detection of unauthorized acquisition, use or disposition of the Company's assets that could have a material effect on the financial statements. FORM 10-K • Management recognizes that all internal control systems, no matter how well designed, have inherent limitations. Therefore...

  • Page 55
    ... reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company's assets that could have a material effect on the financial statements. Because of its inherent limitations, internal control over financial reporting may not prevent or...

  • Page 56
    ... the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence...

  • Page 57
    Consolidated Balance Sheets (In thousands, except share data) December 31, 2011 2010 FORM 10-K Assets Current assets: Cash and cash equivalents Accounts receivable, less allowance for doubtful accounts of ...$6,403 in 2011 and $8,349 in 2010 Amounts receivable from vendors Inventory Deferred income...

  • Page 58
    Consolidated Statements of Income (In thousands, except per share data) FORM 10-K Years ended December 31, 2011 Sales Cost of goods sold, including warehouse and distribution expenses Gross profit Selling, general and administrative expenses Former CSK officer clawback Legacy CSK DOJ investigation ...

  • Page 59
    Consolidated Statements of Comprehensive Income (In thousands) FORM 10-K Years ended December 31, 2011 Components of comprehensive income: Net income $ Unrealized losses on cash flow ... 424,365 $ 2009 307,498 3,551 3,551 311,049 $ $ See accompanying Notes to consolidated financial statements. 49

  • Page 60
    ... Statements of Shareholders' Equity (In thousands) FORM 10-K Balance at December 31, 2008 Net income Unrealized losses on cash flow hedge, net of tax Issuance of common stock under employee benefit plans Net issuance of common stock upon exercise of stock options Excess tax benefit of stock...

  • Page 61
    ...-based revolving credit facility debt issuance costs Excess tax benefit from stock options exercised Deferred income taxes Gain on settlement of note receivable Share-based compensation programs Other Changes in operating assets and liabilities: Accounts receivable Inventory Accounts payable Income...

  • Page 62
    ... automotive accessories. The Company owns and operates 3,740 stores in 39 states, covering all regions of the United States except the Northeast, and caters to both the do-it-yourself (―DIYâ€-) customer and the professional service provider. The Company's robust distribution system provides stores...

  • Page 63
    ... Team Member health care benefit liabilities, the Company obtains third-party insurance coverage to limit its exposure. The 53 FORM 10-K Inventory: Inventory, which consists of automotive hard parts, maintenance items, accessories and tools, is stated at the lower of cost or market. Inventory...

  • Page 64
    ... former CSK Automotive Corporation (―CSKâ€-) employees arising out of alleged conduct relating to periods prior to the Company's acquisition of CSK. See Note 12 for further information concerning these legal matters. Closed property liabilities: The Company maintains reserves for closed stores and...

  • Page 65
    ... related to store and corporate assets Vehicle expenses for store delivery services Self-insurance costs Closed store expenses Other administrative costs, including: Accounting, legal and other professional services Bad debt, banking and credit card fees Supplies Travel Advertising costs Operating...

  • Page 66
    ... plans, director stock plan, stock issued through the Company's employee stock purchase plan and stock awarded to employees and directors thro ugh other compensation plans. See Note 10 for further information concerning these plans. Pre-opening expenses: Costs associated with the opening of new...

  • Page 67
    ... 11, 2008, the Company acquired CSK, which was one of the largest specialty retailers of auto parts and accessories in the Western United States and one of the largest such retailers in the United States, based on store count at the date of acquisition. The acquisition was accounted for under the...

  • Page 68
    ... for financial statement purposes. During the year ended December 31, 2011, the Company recorded a decrease in goodwill of less than $0.1 million, primarily due to adjustments to purchase price allocations related to small acquisitions and the excess tax benefit related to exercises of stock options...

  • Page 69
    ...For the years ended December 31, 2011, 2010 and 2009, the Company recognized an amortized benefit of $6.7 million, $7.0 million and $9.2 million, respectively, related to these unfavorable operating leases, which are included in ―Other liabilitiesâ€- on the accompanying Consolidated Balance Sheets...

  • Page 70
    ...a one-time charge related to the termination of the Company's interest rate swap contracts in the amount of $4.2 million, which are included in ―Other income (expense)â€- on the accompanying Consolidated Statements of Income for the year ended December 31, 2011. Unsecured revolving credit facility...

  • Page 71
    ... related to the offering, with the remainder intended to be used to repay borrowings outstanding from time to time under the Revolving Credit Facility and for general corporate purposes, including share repurchases. The senior notes are guaranteed on a senior unsecured basis by each of the Company...

  • Page 72
    ...administrative office and distribution facilities closure liabilities: The Company maintains reserves for closed stores and other properties that are no longer utilized in current operations. The Company accrues for closed property operating lease liabilities using a credit-adjusted discount rate to...

  • Page 73
    ... ranging from 30 days to limited lifetime warranties. Estimated warranty costs are based on the historical failure rate of each individual product line and are recorded as obligations. The Company's historical experience has been that failure rates are relatively consistent over time and that the...

  • Page 74
    ...Company may, from time to time, repurchase shares of its common stock, solely through open market purchases effected through a broker dealer at prevailing market prices, based on a variety of factors such as price, corporate trading policy requirements and overall market conditions, for a three-year...

  • Page 75
    ... closing market price of the Company's common stock on the date of the grant. Employee stock options granted under the plans expire after ten years and typically vest 25% per year, over four years. The Company records compensation expense for the grant date fair value of the option awards, adjusted...

  • Page 76
    ...-year period and are held in escrow until such vesting has occurred. Generally, unvested shares are forfeited when an employee ceases employment. The fair value of shares awarded under this plan is based on the closing market price of the Company's common stock on the date of award and compensation...

  • Page 77
    ... Company's common stock at 85% of the fair market value. Employees may authorize the Company to withhold up to 5% of their annual salary to participate in the plan. The fair value of shares issued under the ESPP is based on the average of the high and low market prices of the Company's common stock...

  • Page 78
    ... that, in the aggregate, these matters, taking into account applicable insurance and reserves, will have a material adverse effect on its consolidated financial position, results of operations or cash flows in a particular quarter or annual period. In addition, O'Reilly is involved in resolving...

  • Page 79
    ... quarter of 2011. The previously reported SEC civil action for alleged misconduct related to CSK's historical accounting practices against the former Chief Financial Officer, Controller and Director of Credit and Receivables of CSK, remains ongoing. However, on January 20, 2012, the parties filed...

  • Page 80
    ...for financial reporting purposes and the amounts used for...Company's deferred tax assets and liabilities as of December 31, 2011 and 2010 (in thousands): December 31, 2011 Deferred tax assets: Current: Allowance for doubtful accounts Unrealized loss on cash flow hedges Net operating losses Tax credits...

  • Page 81
    ... stock options has been included within ―Additional paid -in capitalâ€- on the accompanying consolidated financial statements. As of December 31, 2011, the Company had tax credit carryforwards available for state tax purposes of $5.1 million. As of December 31, 2011, the Company had net operating...

  • Page 82
    ..., and May 20, 2011, the Board of Directors adopted a shareholder rights plan (―Rights Agreementâ€-) whereby one right was distributed for each share of common stock, par value $0.01 per share, of the Company held by shareholders of record (the ―Rightsâ€-) as of the close of business on May 31...

  • Page 83
    ... per share data) $ $ $ $ $ $ $ $ The unaudited operating data presented above should be read in conjunction with the Company's consolidated financial statements and related notes, and the other financial information included therein. 73 FORM 10-K common stock. If a person or group acquires...

  • Page 84
    ... to management, including our Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely decisions regarding required disclosure. CHANGES IN INTERNAL CONTROLS There were no changes in the Company's internal control over financial reporting during the fiscal quarter ended...

  • Page 85
    ... of our directors, officers (including its chief executive officer, chief operating officer, chief financial officer, chief accounting officer, controller and any person performing similar functions) and Team Members. Our Code of Ethics is available on our website at www.oreillyauto.com. Corporate...

  • Page 86
    ...Security Ownership of Directors and Managementâ€- and is incorporated herein by reference. Item 13. Certain Relationships and Related Transactions, and Director Independence FORM 10-K The information required by Item 404 of Regulation S-K will be included in the Company's Proxy Statement under the...

  • Page 87
    ..., are filed with this Annual Report in Part II, Item 8: Management's Report on Internal Control over Financial Reporting Report of Independent Registered Public Accounting Firm - Internal Control over Financial Reporting Report of Independent Registered Public Accounting Firm - Financial Statements...

  • Page 88
    ...D Column E Balance at End of Period FORM 10-K Description (amounts in thousands) Deductions Describe Year ended December 31, 2011: Deducted from asset account: Sales and returns allowances Allowance for doubtful accounts Year ended December 31, 2010: Deducted from asset account: Sales and returns...

  • Page 89
    ... Director Director Director Director Director Director Chief Executive Officer and Co-President (Principal Executive Officer) Chief Operating Officer and Co-President Executive Vice-President of Finance and Chief Financial Officer (Principal Financial and Accounting Officer) Date February 28, 2012...

  • Page 90
    ... Automotive, Inc. Director Stock Option Plan, filed as Exhibit 10.10 to the Registration Statement of the Registrant on Form S-1, File No. 33-58948, is incorporated herein by this reference. O'Reilly Automotive, Inc. Performance Incentive Plan, filed as Exhibit 10.18 (a) to the Registrant's Annual...

  • Page 91
    ... reference. O'Reilly Automotive, Inc. Director Compensation Program, filed herewith . Independent Registered Public Accounting Firm Letter Regarding Accounting Change, dated March 7, 2005, filed as Exhibit 18.0 to the Registrant's Annual Shareholders' Report on Form 10-K for the year ended December...

  • Page 92
    ...• • an annual cash retainer of $165,000; and a quarterly meeting fee of $2,500 for each meeting of the Company's Board of Directors attended. The payment schedule for the retainers and meeting fees is determined by the Compensation Committee of the Board of Directors. Independent Director Fees...

  • Page 93
    ... Services, Inc. Ozark Purchasing, LLC CSK Auto Corporation CSK Auto, Inc. CSKAUTO.COM, Inc. OC Holding Company, LLC State of Incorporation Missouri Missouri Missouri Missouri Missouri Missouri Delaware Arizona Delaware Delaware One hundred percent of the capital stock of each of the above listed...

  • Page 94
    ... statements and schedule of O'Reilly Automotive, Inc. and Subsidiaries and the effectiveness of internal control over financial reporting of O'Reilly Automotive, Inc. and Subsidiaries, included in this Annual Report (Form 10-K) for the year ended December 31, 2011. /s/ Ernst & Young LLP Kansas City...

  • Page 95
    ... financial information; and b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: February 28, 2012 /s/ Greg Henslee Greg Henslee, Co-President and Chief Executive Officer...

  • Page 96
    ... involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: February 28, 2012 /s/ Thomas McFall Thomas McFall Executive Vice President of Finance and Chief Financial Officer (Principal Financial and Accounting Officer) FORM...

  • Page 97
    ... of the Securities Exchange Act of 1934, as amended; and (2) The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company. /s/ Greg Henslee Greg Henslee Chief Executive Officer February 28, 2012 This certification...

  • Page 98
    ... the Securities Exchange Act of 1934, as amended; and (2) The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company. /s/ Thomas McFall Thomas McFall Chief Financial Officer February 28, 2012 This certification...

  • Page 99
    Shareholder Information Corporate Address 233 South Patterson Springfield, Missouri 65802 417-862-3333 www.oreillyauto.com Board of Directors Term Expiring in 2012 Charlie O'Reilly Vice Chairman of the Board Executive Committee and Divisional Vice Presidents Greg Henslee Chief Executive Officer ...

  • Page 100
    233 South Patterson Springfield, Missouri 65802 417.862.3333 www.oreillyauto.com