O'Reilly Auto Parts 2002 Annual Report Download - page 49

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2002 Annual Report 47
THE BOARD OF DIRECTORS AND SHAREHOLDERS
O’REILLY AUTOMOTIVE, INC. AND SUBSIDIARIES
We have audited the accompanying consolidated balance sheets of O’Reilly Automotive, Inc. and Subsidiaries as of
December 31, 2002, and 2001, and the related consolidated statements of income, shareholders’ equity and cash
flows for each of the three years in the period ended December 31, 2002. These financial statements are the responsi-
bility of the Company’s management. Our responsibility is to express an opinion on these financial statements based
on our audits.
We conducted our audits in accordance with auditing standards generally accepted in the United States. Those
standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial state-
ments are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the
amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used
and significant estimates made by management, as well as evaluating the overall financial statement presentation. We
believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, the consolidated
financial position of O’Reilly Automotive, Inc. and Subsidiaries at December 31, 2002, and 2001, and the consolidated
results of their operations and their cash flows for each of the three years in the period ended December 31, 2002, in
conformity with accounting principles generally accepted in the United States.
Kansas City, Missouri
February 21, 2003
REPORT OF INDEPENDENT AUDITORS