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YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
level of marketing activities, number of stores, store locations, store layouts, operating histories, name recognition, established customer bases, vendor relationships, prices and product warrantie... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
we fail to maintain high standards for, or receive negative publicity (whether through social media or traditional media channels) relating to, product safety and quality, as well as our integrity a... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
consistent execution, or otherwise fail to develop successful strategies, to address these potential competitive disadvantages, we may lose customers and market share, our revenues and profit margin... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
meeting our customers’ needs for automotive products (particularly parts availability) in a timely manner could undermine our business strategy.
Deterioration of general macroeconomic conditions, i... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
conditions. These events could negatively affect our suppliers’ operations and make it difficult for them to obtain the credit lines or loans necessary to finance their operations in the short-term ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
certain suppliers, and could lead to less competition and result in higher prices. We could also be negatively impacted by suppliers who might experience bankruptcies, work stoppages, labor strikes,... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
energy prices also directly impact our operating and product costs, including our store, supply chain, professional delivery, utility and product acquisition costs.
Risks Related to Our Common Stoc... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
company’s securities, securities class action litigation has often been instituted against such a company. Such litigation could result in substantial costs and a diversion of our attention and reso... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
use of cash for other purposes such as operational spending, capital spending, acquisitions or repayment of debt. Changes in operational results, cash flows, tax laws and our share price could also ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
obligations.
Our level of indebtedness, a downgrade in our credit ratings or a deterioration in global credit markets could limit the cash flow available for operations and could adversely affect o... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
planning for or reacting to changes in the markets in which we compete;
place us at a competitive disadvantage relative to our competitors who may have less indebtedness;
render us more vulnerable... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
control. The interest rates on our revolving credit facility are linked directly to our credit ratings and the interest rates on future debt we issue or incur likely would be affected by our credit ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
access to short- and long-term borrowings to finance our operations and the terms and cost of that debt. It is possible that one or more of the banks that provide us with financing under our revolvi... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
, 2022:
Square Footage (in thousands)
Location
Leased
Owned
Distribution centers
50 locations in 31 U.S. states and four Canadian provinces
7,951
4,648
Principal corporate offices:
Raleigh,... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
4. Mine Safety Disclosures.
Not applicable.
15
Table of Contents
PART II
Item 5. Market for Registrant
s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
)
Total Number of Shares Purchased as Part of Publicly Announced Programs
Maximum Dollar Value that May Yet Be Purchased Under the Programs (in thousands) (2)
October 9, 2022 to November 5, 2022
... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
of the vesting of restricted stock units was $0.9 million, or an average price of $151.78 per share, during the twelve weeks ended December 31, 2022.
(2)
On February 8, 2022, our Board of Director... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
$100 on December 30, 2017, and that any dividends have been reinvested. The comparison in the graph below is based solely on historical data and is not intended to forecast the possible future perfo... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
159.22
S&P 500 Index
100.00
94.80
126.06
148.85
191.58
156.88
S&P Retail Index
100.00
112.04
144.71
210.44
251.08
165.00
17
Table of Contents
Item 6. [Reserved]
Item 7. Management... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
intentions. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements as a result of a number of factors, including those set forth u... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Securities and Exchange Commission (“SEC”) on February 15, 2022.
Amounts are presented in thousands, except per share data, unless otherwise stated.
Management Overview
Net sales increased 1.4% d... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
ed diluted earnings per share (“Adjusted EPS”) in 2022 was $13.04 compared with $12.02 in 2021:
Year Ended
December 31, 2022
January 1, 2022
Last-in, first-out (“LIFO”) impacts
3.85
1.42
Trans... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
GAAP.
A high-level summary of our financial results and other highlights from 2022 includes:
Net sales during 2022 were $11.2 billion, an increase of 1.4% compared with 2021, driven by improvement... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
2 million, a decrease of $124.6 million from 2021. As a percentage of Net sales, operating income was 6.4%, a decrease of 122 basis points compared with 2021. The increase in Selling, general and adm... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
cash provided by Receivables, net.
Refer to
Results of Operations
and
Liquidity and Capital Resources
for further details on our results.
18
Table of Contents
Business and Risk Update
We co... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
network.
Continued evolution of our marketing campaigns, which focus on our customers and how we serve them every day with care and speed and innovate to meet their needs, inclusive of the iconic D... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
included within Management’s Discussion and Analysis of Financial Condition and Results of Operations, these factors include, but are not limited to:
Inflationary pressures, including product costs... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
2022 vs. 2021$ Change
Basis Points
2021 vs. 2020$ Change
Basis Points
(in millions)
December 31, 2022
January 1, 2022
January 2, 2021
Net sales
11,154.7
100.0
10,998.0
100.0
10,106.3
... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
5
4,928.7
44.8
4,481.6
44.3
33.3
(33)
447.2
47
SG&A
4,247.9
38.1
4,090.0
37.2
3,731.7
36.9
157.9
89
358.3
26
Operating income
714.2
6.4
838.7
7.6
749.9
7.4
(124.6)
(122)
... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
.3)
(11)
9.1
12
Loss on debt extinguishment
(7.4)
(0.1)
(48.0)
(0.5)
(7.4)
(7)
48.0
48
Other (expense) income, net
(7.0)
(0.1)
5.0
0.0
(4.0)
0.0
(12.0)
(11)
9.0
Provision for i... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
4.5
616.1
5.6
493.0
4.9
(114.3)
(110)
123.2
72
Note 1: Table amounts may not foot due to rounding.
Note 2: Fiscal years 2022 and 2021 included 52 weeks. Fiscal year 2020 included 53 weeks.
... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
by the professional business. Category growth was led by batteries, fluids and chemicals and motor oil.
We calculate comparable store sales based on the change in store or branch sales starting onc... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
profit in 2022 was $5.0 billion, or 44.5% of Net sales, compared with $4.9 billion, or 44.8% of Net sales, in 2021, a decrease of 33 basis points. Gross profit as a percentage of Net sales was negat... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
increase of 89 basis points. This increase as a percentage of Net sales was primarily driven by increases in labor-related inflation and transportation and fuel costs partially offset by decreases i... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Redemptions of Senior Unsecured Notes
During the fifty-two weeks ended December 31, 2022, we incurred charges related to a make-whole provision and debt issuance costs of $7.0 million and $0.4 mill... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
a decrease in taxable income. Our effective tax rate was 22.6% for 2022 and 23.6% for 2021. In 2022, the rate decreased compared with prior year primarily due to a tax benefit resulting from the exp... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
position or cash flows. We have presented these non-GAAP financial measures as we believe that the presentation of our financial results that exclude: (1) LIFO impacts; (2) transformation expenses u... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
and forecasts and in evaluating management’s compensation. Included below is a description of the expenses we have determined are not normal, recurring cash operating expenses necessary to operate o... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
expenses. These expenses will include, but not be limited to the following:
Restructuring costs - Costs primarily relating to the early termination of lease obligations, asset impairment charges, o... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Amortization of Acquired Intangible Assets
— As part of our acquisition of GPI, we obtained various intangible assets, including customer relationships, non-compete contracts and favorable lease ag... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
,407
27,587
Transformation expenses:
Restructuring costs
4,657
27,307
Third-party professional services
27,074
24,099
Other significant costs
5,351
8,796
Other income adjustment (1)
7,40... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
relating to a make-whole provision and debt issuance cost of $7.0 million and $0.4 million resulting from the early redemption of our 2023 Notes.
(2)
The income tax impact of non-GAAP adjustments ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
share repurchase program, to pay our quarterly cash dividend and for acquisitions; however, depending on the priorities of our business and in consideration of ongoing uncertainties related to gener... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
be sufficient to fund our obligations for the next year. We also believe such funds, cash and available borrowings, together with our ability to generate cash through credit facilities and notes off... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
early redemption of our 2023 Notes and supplement operational and capital expenditures.
22
Table of Contents
Share Repurchases
In August of 2019, our Board of Directors approved a share repurcha... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
for our share repurchase program.
During 2022, we repurchased 3.0 million shares of our common stock at an aggregate cost of $598.2 million, or an average price of $201.88 per share, in connection ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Securities
” for further details on our share repurchase program.
Capital Expenditures
Our primary capital re
quirements have been the funding of our investments in information technology and su... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
within a given year. In 2023, we anticipate that our capital expenditures related to such investments will range from $300 million to $350 million but may vary with business conditions.
Analysis of... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
changes on cash
(9,216)
5,600
(467)
Net (decrease) increase in cash and cash equivalents
(332,146)
(233,564)
416,327
23
Table of Contents
Operating Activities
In 2022, Net cash provided b... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
for further details on our results.
Investing Activities
In 2022, Net cash used in investing activities increased $137.1 million to $424.4 million compared with 2021. Cash used in investing activit... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
287.7 million and proceeds from net borrowings under our unsecured revolving credit facility of $185.0 million during the fifty-two weeks ended December 31, 2022. The decrease was partially offset by... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
issued $350.0 million aggregate principal amount of our 2032 Notes. The 2032 Notes were issued at 99.61% of the principal amount of $350.0 million, are due March 15, 2032 and bear interest at 3.50% ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
long-term debt during the fifty-two weeks ended December 31, 2022, refer to
Note 6.
Long-term Debt and Fair Value of Financial Instruments
of the Notes to the Consolidated Financial Statements in... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
third-party institutions finance arrangements to our vendors based on our credit rating, which could result in increased working capital requirements. Conversely, if these credit ratings improve, our... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
as guarantor of our senior unsecured notes.
24
Table of Contents
Contractual and Off Balance Sheet Obligations
We enter into operating leases for certain store locations, distribution centers, o... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
2032, was $1.20 billion and our credit revolver outstanding balance was $185.0 million. Future interest payable related to long-term debt was $293.3 million as of December 31, 2022. As part of our n... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
9, 2021, with Advance Auto Parts, Inc., as Borrower, Advance Stores Company, Incorporated, as a Guarantor, the lenders party thereto, and Bank of America, N.A., as administrative agent (the “2021 Cr... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
of the Amendment does not purport to be complete and is qualified in its entirety by the full text of the Amendment, which is attached hereto as
Exhibit 10.29
and is incorporated by reference here... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
reasonable. Actual results could differ materially from these estimates.
The preparation of our financial statements included the following significant estimates and exercise of judgment.
Vendor I... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
amounts are recorded as a reduction to Cost of sales as the inventory is sold.
Vendor promotional allowances provided as a reimbursement of specific, incremental and identifiable costs incurred to ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
sales. Our estimate of the portion of deferred revenue that will be realized within one year of the balance sheet date is included in Other current liabilities. Earned amounts that are receivable fr... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
insurance industry and our historical claims experience. Specific factors include, but are not limited to, assumptions about health care costs, the severity of accidents and the incidence of illness... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
expense of approximately $14.5 million for 2022.
New Accounting Pronouncements
For a description of recently adopted and issued accounting standards, including the expected dates of adoption and e... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
$185.0 million borrowings outstanding under our revolving credit facility. As of January 1, 2022, we had no borrowings outstanding under our revolving credit facility.
Our financial assets that are... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
by our ability to adjust selling prices. During 2022 and 2021, foreign currency transactions did not materially impact Net income.
Item 8. Financial Statements and Supplementary Data.
This informa... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
are our controls and other procedures that are designed to ensure that information required to be disclosed by us in our reports that we file or submit under the Exchange Act is recorded, processed,... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
time.
Evaluation of Disclosure Controls and Procedures
Our management evaluated, with the participation of our principal executive officer and principal financial officer, the effectiveness of our... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
and effected by our Board of Directors, management and other personnel, to provide “reasonable assurance” regarding the reliability of financial reporting and the preparation of our financial statem... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
on the financial statements.
As of December 31, 2022, management, including our principal executive officer and principal financial officer, assessed the effectiveness of our internal control over ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
, 2022 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
Attestation Report of Registered Public Accounting Firm
Our inter... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
applicable.
28
Table of Contents
PART III
Item 10.
Directors, Executive Officers and Corporate Governance.
For a discussion of our directors, executive officers and corporate governance, see t... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
2 (the “2023 Proxy Statement”), which is incorporated herein by reference.
Item 11. Executive Compensation
See the information set forth in the sections entitled “Compensation Committee Report,” “C... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
See the information set forth in the subsections entitled “Corporate Governance - Related Party Transactions” and “Board Independence and Structure” in the 2023 Proxy Statement, which is incorporat... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
2021:
Reports of Independent Registered Public Accounting Firm (PCAOB ID No. 34)
31
Consolidated Balance Sheets
34
Consolidated Statements of Operations
35
Consolidated Statements of Comprehe... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Statements
We have audited the accompanying consolidated balance sheets of Advance Auto Parts, Inc. and subsidiaries (the "Company") as of December 31, 2022 and January 1, 2022, the related consoli... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
for each of the three years in the period ended December 31, 2022, in conformity with accounting principles generally accepted in the United States of America.
We have also audited, in accordance w... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
an opinion on the Company's financial statements based on our audits. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in acco... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overal... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
opinion on the critical audit matter or on the accounts or disclosures to which it relates.
Vendor Incentives — Refer to Note 2 to the Consolidated Financial Statements
Critical Audit Matter Descr... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
of December 31, 2022.
ADVANCE AUTO PARTS INC purchases inventory from a significant number of vendors, with no single vendor accounting for more than 10% of purchases. While many of these incentive... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
accounting.
We tested the effectiveness of controls over the recording of vendor incentives as a reduction in inventories, and subsequently as a reduction in cost of sales as the related inventory ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
most recent for the applicable period between the parties.
We tested the amount of the income by developing an expectation based on the historical amounts recorded as a percentage of total cost of ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
, based on criteria established in
Internal Control — Integrated Framework (2013)
issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). In our opinion, the Company ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
those consolidated financial statements and financial statement schedule.
Basis for Opinion
ADVANCE AUTO PARTS INC’s management is responsible for maintaining effective internal control over finan... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
effective internal control over financial reporting was maintained in all material respects. Our audit included obtaining an understanding of internal control over financial reporting, assessing the... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparati... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
compliance with the policies or procedures may deteriorate.
/s/Deloitte & Touche LLP
Charlotte, North Carolina
February 28, 2023
33
Table of Contents
Advance Auto Parts, Inc. and Subsidiaries
... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
,476
Property and equipment, net of accumulated depreciation of $2,590,382 and $2,403,567
1,690,139
1,528,311
Operating lease right-of-use assets
2,607,690
2,671,810
Goodwill
990,471
993,744... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
,000
Other current liabilities
427,480
481,249
Total current liabilities
5,370,389
5,180,307
Long-term debt
1,188,283
1,034,320
Non-current operating lease liabilities
2,278,318
2,337,651... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
200,000 shares authorized;76,989 shares issued and 59,264 outstanding at December 31, 202276,663 shares issued and 62,009 outstanding at January 1, 2022
Additional paid-in capital
897,560
845,407... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
,194,209
The accompanying notes to the consolidated financial statements are an integral part of these statements.
34
Table of Contents
Advance Auto Parts, Inc. and Subsidiaries
Consolidated Sta... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
247,949
4,090,031
3,731,707
Operating income
714,151
838,717
749,907
Other, net:
Interest expense
(51,060)
(37,791)
(46,886)
Loss on early redemptions of senior unsecured notes
(7,408)
... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
)
Net income
501,872
616,108
493,021
Basic earnings per common share
8.32
9.62
7.17
Weighted average common shares outstanding
60,351
64,028
68,748
Diluted earnings per common share
8.2... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
income
501,872
616,108
493,021
Other comprehensive income:
Changes in net unrecognized other postretirement benefit costs,net of tax of $66, $93 and $54
(186)
(264)
(152)
Currency translati... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
SubsidiariesConsolidated Statements of Changes in Stockholders’ Equity(in thousands, except per share data)
Common Stock
Additional Paid-in Capital
Treasury Stock, at cost
Accumulated Other Comp... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
3,270
3,270
Repurchases of common stock
(3,125)
(469,691)
(469,691)
Cash dividends declared ($1.00 per common share)
(69,235)
(69,235)
Other
(15)
(15)
Balance, January 2, 2021
66,361
... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
23
3,074
3,074
Repurchases of common stock
(4,710)
(906,208)
(906,208)
Cash dividends declared ($3.25 per common share)
(206,951)
(206,951)
Other
(4,443)
(4,443)
Balance, January 1, 2022... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
297
Share-based compensation
50,978
50,978
Stock issued under employee stock purchase plan
25
4,140
4,140
Repurchases of common stock
(3,070)
(618,480)
(618,480)
Cash dividends declared... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
. and SubsidiariesConsolidated Statements of Cash Flows(in thousands)
Year Ended
December 31, 2022
January 1, 2022
January 2, 2021
Cash flows from operating activities:
Net income
501,872
616... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
income taxes
6,338
68,202
8,136
Other, net
2,587
(7,985)
1,467
Net change in:
Receivables, net
81,254
(32,652)
(59,014)
Inventories
(272,253)
(120,272)
(101,449)
Accounts payable
2... |
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