$AZO

AUTOZONE INC

CIK:0000866787|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		8 Months Ended
	May 09, 2026	May 10, 2025	May 09, 2026	May 10, 2025
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
Net sales	$ 4,840,950	$ 4,464,339	$ 13,743,677	$ 12,695,991
Cost of sales, including warehouse and delivery expenses	2,316,376	2,110,816	6,616,431	5,946,010
Gross profit	2,524,574	2,353,523	7,127,246	6,749,981
Operating, selling, general and administrative expenses	1,600,818	1,487,349	4,720,865	4,335,891
Operating profit	923,756	866,174	2,406,381	2,414,090
Interest expense, net	110,490	111,285	323,929	327,736
Income before income taxes	813,266	754,889	2,082,452	2,086,354
Income tax expense	171,775	146,449	441,278	425,057
Net income	$ 641,491	$ 608,440	$ 1,641,174	$ 1,661,297
Weighted average shares for basic earnings per share	16,468	16,746	16,564	16,815
Effect of dilutive stock equivalents	384	461	410	459
Weighted average shares for diluted earnings per share	16,852	17,207	16,974	17,274
Basic earnings per share	$ 38.95	$ 36.33	$ 99.08	$ 98.8
Diluted earnings per share	$ 38.07	$ 35.36	$ 96.69	$ 96.17

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	8 Months Ended
	May 09, 2026	May 10, 2025
Cash flows from operating activities:
Net income	$ 1,641,174	$ 1,661,297
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property and equipment	464,126	415,787
Other non-cash charges (income)	177,000	(16,000)
Amortization of debt origination fees	8,773	9,083
Deferred income taxes	(157,734)	(59,320)
Share-based compensation expense	97,641	85,584
Changes in operating assets and liabilities:
Accounts receivable	(86,607)	(41,820)
Merchandise inventories	(656,508)	(642,317)
Accounts payable and accrued expenses	347,468	603,613
Income taxes	206,209	135,953
Other, net	78,045	12,722
Net cash provided by operating activities	2,119,587	2,164,582
Cash flows from investing activities:
Capital expenditures	(997,486)	(885,623)
Purchase of marketable debt securities	(35,446)	(54,250)
Proceeds from sale of marketable debt securities	17,672	54,827
Net investment in tax credit equity investments	(9,216)	(50,424)
Other, net	11,388	18,209
Net cash used in investing activities	(1,013,088)	(917,261)
Cash flows from financing activities:
Net proceeds from commercial paper	609,400	225,500
Proceeds from issuance of debt		500,000
Repayment of debt	(400,000)	(900,000)
Net proceeds from sale of common stock	67,741	111,008
Purchase of treasury stock	(1,322,357)	(1,135,260)
Repayment of principal portion of finance lease liabilities	(82,161)	(74,096)
Other, net	(3,180)	(4,927)
Net cash used in financing activities	(1,130,557)	(1,277,775)
Effect of exchange rate changes on cash	5,984	907
Net decrease in cash and cash equivalents	(18,074)	(29,547)
Cash and cash equivalents at beginning of period	271,803	298,172
Cash and cash equivalents at end of period	$ 253,729	$ 268,625

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	May 09, 2026	Aug. 30, 2025
Current assets:
Cash and cash equivalents	$ 253,729	$ 271,803
Accounts receivable	764,924	670,137
Merchandise inventories	7,559,056	7,025,688
Other current assets	356,860	373,751
Total current assets	8,934,569	8,341,379
Property and equipment:
Property and equipment	13,742,967	12,552,328
Less: Accumulated depreciation and amortization	(5,945,979)	(5,489,819)
Property and equipment, net	7,796,988	7,062,509
Operating lease right-of-use assets	3,413,970	3,194,666
Goodwill	302,645	302,645
Deferred income taxes	132,109	118,433
Other long-term assets	336,182	335,692
Total assets	20,916,463	19,355,324
Current liabilities:
Accounts payable	8,401,277	8,025,590
Current portion of operating lease liabilities	336,340	283,564
Accrued expenses and other	1,226,757	1,151,536
Income taxes payable	70,939	58,707
Total current liabilities	10,035,313	9,519,397
Long-term debt	9,016,477	8,799,775
Operating lease liabilities, less current portion	3,278,354	3,093,936
Deferred income taxes	483,718	520,510
Other long-term liabilities	887,153	836,019
Commitments and contingencies
Stockholders' deficit:
Preferred stock, authorized 1,000 shares; no shares issued
Common stock, par value $.01 per share, authorized 200,000 shares; 16,592 shares issued and 16,369 shares outstanding as of May 9, 2026; 16,927 shares issued and 16,665 shares outstanding as of August 30, 2025	166	169
Additional paid-in capital	1,967,484	1,843,779
Retained deficit	(3,750,078)	(3,975,852)
Accumulated other comprehensive loss	(137,049)	(285,010)
Treasury stock, at cost	(865,075)	(997,399)
Total stockholders' deficit	(2,784,552)	(3,414,313)
Total liabilities and stockholders' deficit	$ 20,916,463	$ 19,355,324