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FORM 10-K
27
their respective announcement dates. As of February 28, 2014, we had repurchased approximately 40.6 million shares of our
common stock at an aggregate cost of $3.4 billion under this program.
 On June 20, 2013, the Company issued $300 million aggregate principal amount of unsecured 3.850% Senior Notes due 2023
(“3.850% Senior Notes due 2023”) at a price to the public of 99.992% of their face value with United Missouri Bank, N.A.
(“UMB”) as trustee. Interest on the 3.850% Senior Notes due 2023 is payable on June 15 and December 15 of each year, which
began on December 15, 2013, and is computed on the basis of a 360-day year.
 On July 2, 2013, the Company amended its credit agreement, which it entered into in January of 2011. The amendment lowered
the maximum borrowing capacity under the unsecured revolving credit facility to $600 million, extended the maturity date of
the credit agreement to July of 2018 and lowered the interest rate margins on borrowings under the unsecured revolving credit
facility and facility fees applicable to the commitments thereunder.
RESULTS OF OPERATIONS
The following table includes income statement data as a percentage of sales for the years ended December 31, 2013, 2012 and 2011:
For the Year Ended December 31,
2013 2012 2011
Sales 100.0% 100.0% 100.0%
Cost of goods sold, including warehouse and distribution expenses 49.3 49.9 51.0
Gross profit 50.7 50.1 49.0
Selling, general and administrative expenses 34.1 34.3 34.1
Former CSK officer clawback —— (0.1)
Operating income 16.6 15.8 15.0
Interest expense (0.7) (0.7) (0.5)
Interest income —0.1 0.1
Write-off of asset-based revolving credit facility debt issuance costs —— (0.4)
Termination of interest rate swap agreements —— (0.1)
Income before income taxes 15.9 15.2 14.1
Provision for income taxes 5.8 5.7 5.3
Net income 10.1% 9.5% 8.8%
2013 Compared to 2012
Sales:
Sales for the year ended December 31, 2013, increased $467 million to $6.65 billion from $6.18 billion for the same period one year ago,
representing an increase of 8%. Comparable store sales for stores open at least one year increased 4.3% and 3.8% for the years ended
December 31, 2013 and 2012, respectively. Comparable store sales are calculated based on 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 from the VIP Parts,
Tires & Service ("VIP") stores acquired on December 31, 2012, due to the significant change in the business model and lack of historical
data.