AutoZone 2008 Annual Report Download - page 82
Download and view the complete annual report
Please find page 82 of the 2008 AutoZone annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.
5HFHQW$FFRXQWLQJ3URQRXQFHPHQWV
2Q$XJXVWZHDGRSWHG)LQDQFLDO$FFRXQWLQJ6WDQGDUGV%RDUG³)$6%´,QWHUSUHWDWLRQ1R
³$FFRXQWLQJIRU8QFHUWDLQW\LQ,QFRPH7D[HV´³),1´7KLVLQWHUSUHWDWLRQHVWDEOLVKHVQHZVWDQGDUGVIRUWKH
ILQDQFLDOVWDWHPHQWUHFRJQLWLRQPHDVXUHPHQWDQGGLVFORVXUHRIXQFHUWDLQWD[SRVLWLRQVWDNHQRUH[SHFWHGWREHWDNHQ
LQLQFRPHWD[UHWXUQV)RUDGGLWLRQDOLQIRUPDWLRQRQWKHLPSDFWRIDGRSWLRQRI),1UHIHUWR³1RWH'±,QFRPH
7D[HV´WRWKHDFFRPSDQ\LQJFRQVROLGDWHGILQDQFLDOVWDWHPHQWV
2Q$XJXVWZHDGRSWHGWKHUHFRJQLWLRQDQGGLVFORVXUHSURYLVLRQVRI)$6%6WDWHPHQW1R
(PSOR\HUV$FFRXQWLQJIRU'HILQHG%HQHILW3HQVLRQDQG2WKHU3RVWUHWLUHPHQW3ODQV´6)$66)$6
UHTXLUHVUHFRJQLWLRQLQWKHEDODQFHVKHHWRIWKHIXQGHGVWDWXVRIGHILQHGEHQHILWSHQVLRQDQGRWKHUSRVWUHWLUHPHQW
SODQVDQGWKHUHFRJQLWLRQLQDFFXPXODWHGRWKHUFRPSUHKHQVLYHLQFRPH³$2&,´RIXQUHFRJQL]HGJDLQVRUORVVHV
DQGSULRUVHUYLFHFRVWVRUFUHGLWV7KHIXQGHGVWDWXVLVPHDVXUHGDVWKHGLIIHUHQFHEHWZHHQWKHIDLUYDOXHRIWKHSODQ¶V
DVVHWVDQGWKHSURMHFWHGEHQHILWREOLJDWLRQ³3%2´RIWKHSODQ5HIHUWR³1RWH,3HQVLRQDQG6DYLQJV3ODQV´IRU
IXUWKHUGHVFULSWLRQRIWKLVDGRSWLRQ
$GGLWLRQDOO\6)$6UHTXLUHVWKHPHDVXUHPHQWGDWHIRUSODQDVVHWVDQGOLDELOLWLHVWRFRLQFLGHZLWKWKHVSRQVRU¶V
\HDUHQG:HFXUUHQWO\XVHD0D\PHDVXUHPHQWGDWHIRURXUSODQVWKHUHIRUHWKLVVWDQGDUGZLOOUHTXLUHXVWR
FKDQJHRXUPHDVXUHPHQWGDWHWRRXUILVFDO\HDUHQGEHJLQQLQJLQILVFDO7KHLPSDFWIURPDGRSWLQJWKH
PHDVXUHPHQWSURYLVLRQVLVQRWH[SHFWHGWRKDYHDPDWHULDOLPSDFWRQWKH&RPSDQ\¶VUHVXOWVRIRSHUDWLRQV
,Q6HSWHPEHUWKH)$6%LVVXHG)$6%6WDWHPHQW1R³)DLU9DOXH0HDVXUHPHQWV´³6)$6´7KLV
QHZVWDQGDUGGHILQHVIDLUYDOXHHVWDEOLVKHVDIUDPHZRUNIRUPHDVXULQJIDLUYDOXHLQJHQHUDOO\DFFHSWHGDFFRXQWLQJ
SULQFLSOHVDQGH[SDQGVGLVFORVXUHVDERXWIDLUYDOXHPHDVXUHPHQWV6)$6ZLOOEHHIIHFWLYHDWWKHEHJLQQLQJRI
ILVFDOIRUILQDQFLDODVVHWVDQGOLDELOLWLHVDQGDWWKHEHJLQQLQJRIILVFDOIRUQRQILQDQFLDODVVHWVDQG
OLDELOLWLHV7KHDGRSWLRQRIWKLVVWDWHPHQWLVQRWH[SHFWHGWRKDYHDQLPPHGLDWHPDWHULDOLPSDFWRQRXUFRQVROLGDWHG
ILQDQFLDOVWDWHPHQWV
,Q)HEUXDU\WKH)$6%LVVXHG)$6%6WDWHPHQW1R³7KH)DLU9DOXH2SWLRQIRU)LQDQFLDO$VVHWVDQG
)LQDQFLDO/LDELOLWLHV´³6)$6´7KLVQHZVWDQGDUGSHUPLWVHQWLWLHVWRFKRRVHWRPHDVXUHPDQ\ILQDQFLDO
LQVWUXPHQWVDQGFHUWDLQRWKHULWHPVDWIDLUYDOXH6)$6ZLOOEHHIIHFWLYHIRU$XWR=RQHLQILVFDO7KH
DGRSWLRQRIWKLVVWDWHPHQWLVQRWH[SHFWHGWRKDYHDPDWHULDOLPSDFWRQRXUFRQVROLGDWHGILQDQFLDOVWDWHPHQWVEHFDXVH
ZHGRQRWFXUUHQWO\LQWHQGWRHOHFWWRDSSO\IDLUYDOXHWRDQ\ILQDQFLDOLQVWUXPHQWVWKDWDUHQRWDOUHDG\UHSRUWHGDWIDLU
YDOXH
,Q'HFHPEHUWKH)$6%LVVXHG)$6%6WDWHPHQW5³%XVLQHVV&RPELQDWLRQV´³6)$65´7KLV
VWDQGDUGVLJQLILFDQWO\FKDQJHVWKHDFFRXQWLQJIRUDQGUHSRUWLQJRIEXVLQHVVFRPELQDWLRQVLQFRQVROLGDWHGILQDQFLDO
VWDWHPHQWV$PRQJRWKHUWKLQJV6)$65UHTXLUHVWKHDFTXLULQJHQWLW\LQDEXVLQHVVFRPELQDWLRQWRUHFRJQL]H
WKHIXOOIDLUYDOXHRIDVVHWVDFTXLUHGDQGOLDELOLWLHVDVVXPHGDWWKHDFTXLVLWLRQGDWHDQGUHTXLUHVWKHH[SHQVLQJRI
PRVWWUDQVDFWLRQDQGUHVWUXFWXULQJFRVWV7KHVWDQGDUGLVHIIHFWLYHIRUXVEHJLQQLQJ$XJXVWILVFDO
DQGLVDSSOLFDEOHRQO\WRWUDQVDFWLRQVRFFXUULQJDIWHUWKHHIIHFWLYHGDWH
,Q'HFHPEHUWKH)$6%LVVXHG6)$61R³1RQFRQWUROOLQJ,QWHUHVWVLQ&RQVROLGDWHG)LQDQFLDO
6WDWHPHQWVLQFOXGLQJDQDPHQGPHQWIRU$5%1R´³6)$6´6)$6DPHQGV$5%1RWRHVWDEOLVK
DFFRXQWLQJDQGUHSRUWLQJVWDQGDUGVIRUWKHQRQFRQWUROOLQJLQWHUHVWLQDVXEVLGLDU\DQGIRUWKHGHFRQVROLGDWLRQRID
VXEVLGLDU\,WFODULILHVWKDWDQRQFRQWUROOLQJLQWHUHVWLQDVXEVLGLDU\LVDQRZQHUVKLSLQWHUHVWLQWKHFRQVROLGDWHG
HQWLW\WKDWVKRXOGEHUHSRUWHGDVHTXLW\LQWKHFRQVROLGDWHGILQDQFLDOVWDWHPHQWV6)$6LVHIIHFWLYHIRUXV
EHJLQQLQJ$XJXVW7KHDGRSWLRQRI6)$6LVQRWH[SHFWHGWRKDYHDPDWHULDOLPSDFWRQRXU
FRQVROLGDWHGILQDQFLDOVWDWHPHQWV
,Q0DUFKWKH)$6%LVVXHG6)$61R³'LVFORVXUHVDERXW'HULYDWLYH,QVWUXPHQWVDQG+HGJLQJ$FWLYLWLHV
DQDPHQGPHQWRI6)$61R´³6)$6´6)$6DPHQGV6)$61RWRFKDQJHWKHGLVFORVXUH
UHTXLUHPHQWVIRUGHULYDWLYHLQVWUXPHQWVDQGKHGJLQJDFWLYLWLHV(QWLWLHVDUHUHTXLUHGWRSURYLGHHQKDQFHGGLVFORVXUHV
DERXWKRZDQGZK\DQHQWLW\XVHVGHULYDWLYHLQVWUXPHQWVKRZGHULYDWLYHLQVWUXPHQWVDQGUHODWHGKHGJHGLWHPVDUH
DFFRXQWHGIRUXQGHU6)$61RDQGLWVUHODWHGLQWHUSUHWDWLRQVDQGKRZGHULYDWLYHLQVWUXPHQWVDQGUHODWHG
10-K