ADVANCE AUTO PARTS INC
For the period ended Dec 30, 2023. Filed Mar 12, 2024.
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FY2023 · Filed Mar 12, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Table of Contents
| TABLE OF CONTENTS | |||
|---|---|---|---|
| Page | |||
| Part I. | |||
| Item 1. | Business | 2 | |
| Item 1A. | Risk Factors | 7 | |
| Item 1B. | Unresolved Staff Comments | 15 | |
| Item 1C. | Cybersecurity | 15 | |
| Item 2. | Properties | 16 | |
| Item 3. | Legal Proceedings | 16 | |
| Item 4. | Mine Safety Disclosures | 16 | |
| Part II. | |||
| Item 5. | Market for the Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities | 17 | |
| Item 6. | [Reserved] | 19 | |
| Item 7. | Management's Discussion and Analysis of Financial Condition and Results of Operations | 19 | |
| Item 7A. | Quantitative and Qualitative Disclosures About Market Risks | 26 | |
| Item 8. | Financial Statements and Supplementary Data | 26 | |
| Item 9. | Changes in and Disagreements with Accountants on Accounting and Financial Disclosure | 26 | |
| Item 9A. | Controls and Procedures | 26 | |
| Item 9B. | Other Information | 28 | |
| Item 9C. | Disclosure Regarding Foreign Jurisdictions that Prevent Inspections | 28 | |
| Part III. | |||
| Item 10. | Directors, Executive Officers and Corporate Governance | 29 | |
| Item 11. | Executive Compensation | 29 | |
| Item 12. | Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters | 29 | |
| Item 13. | Certain Relationships and Related Transactions, and Director Independence | 29 | |
| Item 14. | Principal Accountant Fees and Services | 29 | |
| Part IV. | |||
| Item 15. | Exhibits, Financial Statement Schedules | 30 | |
| Signatures | 80 | ||
FORWARD-LOOKING STATEMENTS
Certain statements herein are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are usually identifiable by words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast, “guidance,” “intend,” “likely,” “may,” “plan,” “position,” “possible,” “potential,” “probable,” “project,” “should,” “strategy,” “will,” or similar language. All statements other than statements of historical fact are forward-looking statements, including, but not limited to, statements about our strategic initiatives, including cost reduction initiatives, the potential sales of the Worldpac and Carquest Canada portions of our business, operational plans and objectives, expectations for economic conditions, future business and financial performance, as well as statements regarding underlying assumptions related thereto. Forward-looking statements reflect our views based on historical results, current information and assumptions related to future developments. Except as may be required by law, we undertake no obligation to update any forward-looking statements made herein. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those projected or implied by the forward-looking statements. They include, among others, factors related to the company’s leadership transitions, our ability to complete the potential divestitures of Worldpac and Carquest Canada, our ability to hire, train and retain qualified employees, the timing and implementation of strategic initiatives, deterioration of general macroeconomic conditions, geopolitical conflicts, the highly competitive nature of our industry, demand for our products and services, access to financing on favorable terms, complexities in our inventory and supply chain and challenges with transforming and growing our business. Except as may be required by law, we undertake no obligation to update any forward-looking statements made herein. Please refer to “Item 1A. Risk Factors” included in this report and other filings made by us with the Securities and Exchange Commission (“SEC”) for a description of these and other risks and uncertainties that could cause actual results to differ materially from those projected or implied by the forward-looking statements.
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