ADVANCE AUTO PARTS INC
For the period ended Oct 5, 2024. Filed Nov 14, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Oct 5, 2024 · Filed Nov 14, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Table of Contents
| TABLE OF CONTENTS | |||
|---|---|---|---|
| Page | |||
| NOTE REGARDING FORWARD LOOKING STATEMENTS | 1 | ||
| PART I. | FINANCIAL INFORMATION | ||
| Item 1. | Condensed Consolidated Financial Statements of Advance Auto Parts, Inc. and Subsidiaries (unaudited) | 2 | |
| Condensed Consolidated Balance Sheets | 2 | ||
| Condensed Consolidated Statements of Operations | 3 | ||
| Condensed Consolidated Statements of Comprehensive Income | 4 | ||
| Condensed Consolidated Statements of Changes in Stockholders’ Equity | 5 | ||
| Condensed Consolidated Statements of Cash Flows | 7 | ||
| Notes to the Condensed Consolidated Financial Statements | 1 | ||
| Item 2. | Management's Discussion and Analysis of Financial Condition and Results of Operations | 19 | |
| Item 3. | Quantitative and Qualitative Disclosures About Market Risk | 26 | |
| Item 4. | Controls and Procedures | 26 | |
| PART II. | OTHER INFORMATION | ||
| Item 1. | Legal Proceedings | 25 | |
| Item 1A. | Risk Factors | 28 | |
| Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds | 29 | |
| Item 5. | Other Information | 27 | |
| Item 6. | Exhibits | 30 | |
| SIGNATURE | 31 | ||
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,” “target,” “will,” or similar language. All statements other than statements of historical fact are forward-looking statements, including, but not limited to, statements about the Company’s strategic initiatives, restructuring and asset optimization plans, and the estimated amounts and types of costs the company will incur in connection with such plans, financial objectives, operational plans and objectives, statements about the sale of the Company’s Worldpac business, including statements regarding the benefits of the sale and use of proceeds therefrom, statements regarding expectations for economic conditions, future business and financial performance, as well as statements regarding underlying assumptions related thereto. Forward-looking statements reflect the Company’s views based on historical results, current information and assumptions related to future developments. Except as may be required by law, the Company undertakes 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, the Company’s ability to hire, train and retain qualified employees, the timing and implementation of strategic initiatives, risks associated with the Company’s restructuring and asset optimization plans, deterioration of general macroeconomic conditions, geopolitical factors, the highly competitive nature of the industry, demand for the Company’s products and services, ongoing risks associated with the disposition of Worldpac, the Company’s ability to maintain credit ratings, risks relating to the impairment of assets, including intangible assets such as goodwill, access to financing on favorable terms, complexities in the Company’s inventory and supply chain and challenges with transforming and growing its business. Please refer to “Item 1A. Risk Factors” of the Company’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”), as updated by the Company’s subsequent filings with the 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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