ADVANCE AUTO PARTS INC
For the period ended Dec 30, 2023. Filed Mar 12, 2024.
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FY2023 · Filed Mar 12, 2024
AAP$45.88-0.1%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
| Advance Auto Parts, Inc. and SubsidiariesConsolidated Statements of Cash Flows(in thousands) | |||
|---|---|---|---|
| Year Ended | |||
| December 30, 2023 | December 31, 2022 | January 1, 2022 | |
| Cash flows from operating activities: | |||
| Net income | $29,735 | $464,402 | $596,615 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 306,454 | 283,800 | 259,933 |
| Share-based compensation | 45,647 | 50,978 | 63,067 |
| Loss and impairment of long-lived assets | 857 | 3,581 | 8,949 |
| Loss on early redemption of senior unsecured notes | — | 7,408 | — |
| Provision for deferred income taxes | (47,782) | 16,528 | 58,786 |
| Other, net | 3,267 | 2,587 | (7,985) |
| Net change in: | |||
| Receivables, net | (114,665) | 67,147 | (7,456) |
| Inventories | 44,821 | (229,643) | (124,139) |
| Accounts payable | (4,645) | 227,774 | 291,042 |
| Accrued expenses | 115,673 | (167,723) | 102,345 |
| Other assets and liabilities, net | (91,987) | 9,732 | (134,135) |
| Net cash provided by operating activities | 287,375 | 736,571 | 1,107,022 |
| Cash flows from investing activities: | |||
| Purchases of property and equipment | (242,411) | (424,061) | (289,639) |
| Purchase of intangible asset | — | (1,900) | — |
| Proceeds from sales of property and equipment | 6,922 | 1,513 | 2,325 |
| Net cash used in investing activities | (235,489) | (424,448) | (287,314) |
| Cash flows from financing activities: | |||
| Borrowings under credit facilities | 4,805,000 | 2,035,000 | — |
| Payments on credit facilities | (4,990,000) | (1,850,000) | — |
| Proceeds from issuance of senior unsecured notes, net | 599,571 | 348,618 | — |
| Payments on senior unsecured notes | — | (201,081) | — |
| Dividends paid | (209,293) | (336,230) | (160,925) |
| Repurchases of common stock | (14,518) | (618,480) | (906,208) |
| Other, net | (1,493) | 1,469 | 3,021 |
| Net cash provided by (used in) financing activities | 189,267 | (620,704) | (1,064,112) |
| Effect of exchange rate changes on cash | (8,487) | (8,664) | 5,474 |
| Net increase (decrease) in cash and cash equivalents | 232,666 | (317,245) | (238,930) |
| Cash and cash equivalents, beginning of period | 270,805 | 588,050 | 826,980 |
| Cash and cash equivalents, end of period | $503,471 | $270,805 | $588,050 |
| Supplemental cash flow information: | |||
| Interest paid | $73,844 | $46,159 | $36,372 |
| Income tax payments | $98,792 | $94,605 | $177,317 |
| Non-cash transactions: | |||
| Accrued purchases of property and equipment | $5,287 | $8,927 | $14,369 |
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