O'Reilly Auto Parts 2015 Annual Report Download - page 30

FORM 10-K
22
Years ended December 31, 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006
(In thousands, except per share,
Team Members, stores and ratio
data)
BALANCE SHEET DATA:
Working capital (g)($) (36,372) 252,082 430,832 478,093 1,028,330 1,029,861 900,857 749,276 573,328 566,892
Total assets (g)($) 6,676,684 6,532,083 6,057,895 5,741,241 5,494,174 5,031,950 4,695,536 4,551,586 2,279,737 1,977,496
Inventory turnover (h) 1.5 1.4 1.4 1.4 1.5 1.4 1.4 1.6 1.6 1.6
Accounts payable to inventory
(i) 99.1% 94.6% 86.6% 84.7% 64.4% 44.3% 42.8% 46.9% 43.2% 39.2%
Current portion of long-term
debt and short-term debt ($) —25 67 222 662 1,431 106,708 8,131 25,320 309
Long-term debt, less current
portion (g)($) 1,390,018 1,388,397 1,386,828 1,087,789 790,585 357,273 684,040 724,564 75,149 110,170
Shareholders' equity ($) 1,961,314 2,018,418 1,966,321 2,108,307 2,844,851 3,209,685 2,685,865 2,282,218 1,592,477 1,364,096
CASH FLOW DATA:
Cash provided by operating
activities ($) 1,281,476 1,190,430 908,026 1,251,555 1,118,991 703,687 285,200 298,542 299,418 185,928
Capital expenditures ($) 414,020 429,987 395,881 300,719 328,319 365,419 414,779 341,679 282,655 228,871
Free cash flow (j)($) 867,456 760,443 512,145 950,836 790,672 338,268 (129,579) (43,137) 16,763 (42,943)
(a) In 2008 and 2012, the Company acquired CSK Auto Corporation ("CSK") and VIP Parts, Tires & Service ("VIP"), respectively. The 2008 CSK acquisition added
1,342 stores and the 2012 VIP acquisition added 56 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 dates of the acquisitions forward.
(b) Total square footage includes normal selling, office, stockroom and receiving space.
(c) Sales per weighted-average store are weighted to consider the approximate dates of store openings, acquisitions or closures.
(d) Sales per weighted-average square foot are weighted to consider the approximate dates of store openings, acquisitions, expansions or closures.
(e) Comparable store sales are calculated based on the change in sales of stores open at least one year and excludes 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.
(f) Comparable store sales for 2008 include sales for stores acquired in the CSK acquisition. Comparable store sales for stores operating on O'Reilly systems open at
least one year increased 2.4% for the year ended December 31, 2008. Comparable store sales for stores operating on the legacy CSK system open at least one year
decreased 1.7% for the portion of CSK's sales in 2008 since the July 11, 2008, acquisition.
(g) Prior period amounts have been reclassified to conform to current period presentation, due to the Company's adoption of new accounting standards during the fourth
quarter ended December 31, 2015. See Note 1 "Summary of Significant Accounting Policies" to the Consolidated Financial Statements for more information.
(h) Inventory turnover is calculated as cost of goods sold for the last 12 months divided by average inventory. Average inventory is calculated as the average of inventory
for the trailing four quarters used in determining the denominator.
(i) Accounts payable to inventory is calculated as accounts payable divided by inventory.
(j) Free cash flow is calculated as net cash provided by operating activities less capital expenditures for the period.