O'Reilly Auto Parts 2012 Annual Report Download - page 33

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FORM 10-k
d
23
Item 6. Selected Financial Data
The table below compares O’Reilly Automotive, Inc.’s (the “Company’s”) selected financial data over a ten-year period. In 2005 and
2008, the Company acquired Midwest Auto Parts Distributors and CSK Auto Corporation (“CSK”), 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 dates of the acquisitions
forward.
Years ended December 31, 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003
(In thousands, except per
share data)
INCOME STATEMENT
DATA:
Sales $ 6,182,184 $ 5,788,816 $ 5,397,525 $4,847,062 $3,576,553 $2,522,319 $2,283,222 $ 2,045,318 $1,721,241 $1,511,816
Cost of goods sold,
including warehouse and
distribution expenses 3,084,766 2,951,467 2,776,533 2,520,534 1,948,627 1,401,859
1,276,511 1,152,815 978,076 873,481
Gross profit 3,097,418 2,837,349 2,620,992 2,326,528 1,627,926 1,120,460 1,006,711 892,503 743,165 638,335
Selling, general and
administrative expenses 2,120,025 1,973,381 1,887,316 1,788,909 1,292,309 815,309 724,396 639,979 552,707 473,060
Former CSK officer - (2,798) - - - - - - - -
clawback
Legacy CSK DOJ
investigation charge - - 20,900 - - - - - - -
Operating income 977,393 866,766 712,776 537,619 335,617 305,151 282,315 252,524 190,458 165,275
Write-off of asset-based
revolving credit agreement
debt issuance costs - (21,626) - - - - - - - -
Termination of interest rate
swap agreements - (4,237) - - - - - - - -
Gain on settlement of note
receivable - - 11,639 - - - - - - -
Other income (expense), net (35,872) (25,130) (35,042) (40,721) (33,085) 2,337 (50) (1,455) (2,721) (5,233)
Total other income
(expense) (35,872) (50,993) (23,403) (40,721) (33,085) 2,337 (50) (1,455) (2,721) (5,233)
Income before income taxes
and cumulative effect of
accounting change 941,521 815,773 689,373 496,898 302,532 307,488 282,265 251,069 187,737 160,042
Provision for income taxes 355,775 308,100 270,000 189,400 116,300 113,500 104,180 86,803 70,063 59,955
Income before cumulative
effect of accounting change 585,746 507,673 419,373 307,498 186,232 193,988 178,085 164,266 117,674 100,087
Cumulative effect of
accounting change, net of
tax (a) - - - - - - - - 21,892 -
Net income $ 585,746 $ 507,673 $ 419,373 $ 307,498 $ 186,232 $ 193,988 $ 178,085 $ 164,266 $ 139,566 $ 100,087
BASIC EARNINGS PER
COMMON SHARE: (b)
Income before cumulative
effect of accounting change $ 4.83 $ 3.77 $ 3.02 $2.26 $ 1.50 $ 1.69 $ 1.57 $ 1.47 $ 1.07 $ 0.93
Cumulative effect of
accounting change (a) - - - - - - - - 0.20 -
Earnings per share – basic $ 4.83 $ 3.77 $ 3.02 $ 2.26 $ 1.50 $ 1.69 $ 1.57 $ 1.47 $ 1.27 $ 0.93
Weighted-average common
shares outstanding – basic 121,182 134,667 138,654 136,230 124,526 114,667 113,253 111,613 110,020 107,816