O'Reilly Auto Parts 2014 Annual Report Download - page 5

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OUR FOOTPRINT grew to 43 states
in 2014 as we opened 200 net, new stores
staed with well-trained teams eager to
aggressively execute our proven dual
market strategy and gain market share
from coast to coast. During 2014, we
opened two new distribution centers and
relocated one distribution center, enabling
us to better support our existing store base
and positioning us for future growth. We
will continue to expand the O’Reilly brand,
from coast to coast, in 2015, with the
investment in 205 net, new stores in both
existing and new markets.
GREG HENSLEE
President and Chief Executive Ocer
THOMAS MCFALL
Executive Vice President of Finance
and Chief Financial Ocer
O’REILLY AUTOMOTIVE 2014 ANNUAL REPORT
4
“
“
“We are very
proud of our
success in 2014
and are absolutely
focused on
building upon
that success for
the future.”
growth, we continue to drive free cash ow to levels that exceed our opportu-
nity to prudently reinvest in our business. In 2014, aer investing in our growth,
we generated more than $760 million in free cash. We utilized that free cash to
directly return value to our shareholders by continuing to prudently execute our
share repurchase program. Over the course of 2014, we repurchased 5.7 million of
our shares for an investment of $866 million and, since the inception of our share
repurchase program in 2011, we have repurchased 46.3 million of our shares for a
total investment of $4.22 billion, or $91.06 per share. We will continue to directly
return value to our shareholders through our repurchase program aer we have
exhausted all other protable-growth opportunities, including store growth and
accretive acquisitions.
Before we conclude our comments in this letter, we would once again like to thank
our more than 67,000 Team Members for their dedication and relentless focus on
providing the highest levels of customer service in the industry. Our record break-
ing results would not be possible without their hard work each day, in every store
and DC, across the country. We are very proud of our success in 2014 and are
absolutely focused on building upon that success for the future. We are grateful
of the trust you have placed in us, and we are committed to continuing our long
track record of producing outstanding returns on your investment in O’Reilly. Our
entire Team is dedicated to our mission of being the dominant supplier of parts
in every market we serve, and we are condent we will extend our rich history of
protable growth into 2015 and beyond.
151
58
512
133 45
615
116
9059
52
18
76
35
12
15
27
36
104
190
100
70
115
73 114 178
118
14
153 141
84
54
67
167 109 148
1
104
6
35
18
7
134
GROWTH from COAST to COAST
Store Counts 200-600+ 100-199 1-99
Distribution Centers
12