$ORLY

O REILLY AUTOMOTIVE INC

CIK:0000898173|SEC Filings

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Consolidated Statements of Income
Sales	$ 4,892,013	$ 4,525,058	$ 9,452,552	$ 8,661,982
Cost of goods sold, including warehouse and distribution expenses	2,375,273	2,198,520	4,588,601	4,213,959
Gross profit	2,516,740	2,326,538	4,863,951	4,448,023
Selling, general and administrative expenses	1,530,994	1,412,068	3,036,597	2,792,087
Operating income	985,746	914,470	1,827,354	1,655,936
Other income (expense):
Interest expense	(69,871)	(57,337)	(132,616)	(114,901)
Interest income	1,589	1,885	3,337	3,549
Other, net	6,611	2,437	6,089	1,222
Total other expense	(61,671)	(53,015)	(123,190)	(110,130)
Income before income taxes	924,075	861,455	1,704,164	1,545,806
Provision for income taxes	209,011	192,860	384,919	338,726
Net income	$ 715,064	$ 668,595	$ 1,319,245	$ 1,207,080
Earnings per share-basic:
Earnings per share	$ 0.87	$ 0.78	$ 1.59	$ 1.41
Weighted-average common shares outstanding - basic	825,197	854,003	831,853	856,768
Earnings per share-assuming dilution:
Earnings per share	$ 0.86	$ 0.78	$ 1.58	$ 1.4
Weighted-average common shares outstanding - assuming dilution	828,875	858,440	835,661	861,368

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating activities:
Net income	$ 1,319,245	$ 1,207,080
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property, equipment and intangibles	273,643	247,159
Amortization of debt discount and issuance costs	3,818	3,667
Deferred income taxes	27,504	(36,679)
Share-based compensation programs	17,512	18,812
Other	5,722	7,945
Changes in operating assets and liabilities:
Accounts receivable	(75,256)	(73,966)
Inventory	(239,312)	(280,899)
Accounts payable	284,815	331,082
Income taxes payable	(33,836)	314,779
Other	455,557	(227,014)
Net cash provided by operating activities	2,039,412	1,511,966
Investing activities:
Purchases of property and equipment	(552,050)	(587,685)
Proceeds from sale of property and equipment	5,142	2,695
Other, including acquisitions, net of cash acquired	(2,767)	(10,008)
Net cash used in investing activities	(549,675)	(594,998)
Financing activities:
Net proceeds of commercial paper	651,888	298,918
Proceeds from the issuance of long-term debt	847,365	0
Principal payments on long-term debt	(500,000)	0
Payment of debt issuance costs	(6,655)	(3,815)
Payment of excise tax on share repurchases	(18,718)	(17,012)
Repurchases of common stock	(2,433,023)	(1,176,640)
Net proceeds from issuance of common stock	37,763	48,167
Other	(270)	(433)
Net cash used in financing activities	(1,421,650)	(850,815)
Effect of exchange rate changes on cash	301	2,215
Net increase in cash and cash equivalents	68,388	68,368
Cash and cash equivalents at beginning of the period	193,793	130,245
Cash and cash equivalents at end of the period	262,181	198,613
Supplemental disclosures of cash flow information:
Income taxes paid	100,317	393,872
Interest paid, net of capitalized interest	$ 119,269	$ 110,374

CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands

Jun. 30, 2026

Dec. 31, 2025

^[1]

Assets

Cash and cash equivalents

$ 262,181

$ 193,793

Accounts receivable, net

457,785

389,793

Amounts receivable from suppliers

170,728

159,900

Inventory

5,971,856

5,731,385

Other current assets

337,082

269,406

Total current assets

7,199,632

6,744,277

Property and equipment, at cost

10,741,816

10,222,249

Less: accumulated depreciation and amortization

4,191,571

3,964,824

Net property and equipment

6,550,245

6,257,425

Operating lease, right-of-use assets

2,484,413

2,391,150

Goodwill

955,211

948,208

Other assets, net

199,615

197,193

Total assets

17,389,116

16,538,253

Liabilities and shareholders' deficit

Accounts payable

7,384,958

7,103,684

Self-insurance reserves

214,311

297,304

Accrued payroll

176,174

119,603

Accrued benefits and withholdings

275,493

240,072

Income taxes payable

13,957

Current portion of operating lease liabilities

452,275

439,907

Other current liabilities

1,071,463

561,294

Total current liabilities

9,574,674

8,775,821

Long-term debt

7,014,543

6,016,904

Operating lease liabilities, less current portion

2,120,615

2,034,688

Deferred income taxes

238,615

211,210

Other liabilities

276,394

262,982

Shareholders' equity (deficit):

Common stock, $0.01 par value: Authorized shares - 1,250,000,000 Issued and outstanding shares - 816,165,813 as of June 30, 2026, and 841,909,238 as of December 31, 2025

8,162

8,419

Additional paid-in capital

1,536,955

1,530,292

Retained deficit

(3,416,414)

(2,328,817)

Accumulated other comprehensive income (loss)

35,572

26,754

Total shareholders' deficit

(1,835,725)

(763,352)

Total liabilities and shareholders' deficit

$ 17,389,116

$ 16,538,253

[1]	The balance sheet at December 31, 2025, has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by United States generally accepted accounting principles for complete financial statements.