AUTOZONE INC

For the period ended Aug 31, 2024. Filed Oct 28, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Oct 28, 2024

AZO$3,217.44-1.0%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

AutoZone, Inc. Consolidated Statements of Cash Flows


· · Year Ended
· · · August 31, · · August 26, · · August 27,
· · · 2024 · · 2023 · · 2022
(in thousands) · · · (53 weeks) · · (52 weeks) · · (52 weeks)

Cash flows from operating activities: · · · · · · ·
Net income	$2,662,427	$2,528,426	$2,429,604
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property and equipment	549,755	497,577	442,223
Other non-cash (income) charges	(40,000)	44,000	15,000
Amortization of debt origination fees	11,988	9,264	11,276
Deferred income taxes	(254,393)	(25,707)	185,594
Share-based compensation expense	106,246	93,087	70,612
Changes in operating assets and liabilities:
Accounts receivable	(38,282)	(6,674)	(125,732)
Merchandise inventories	(453,101)	(89,180)	(1,005,686)
Accounts payable and accrued expenses	244,134	(183,679)	1,224,692
Income taxes	296,398	92,832	(10,517)
Other, net	(81,056)	(19,158)	(25,931)
Net cash provided by operating activities	3,004,116	2,940,788	3,211,135

Cash flows from investing activities:
Capital expenditures	(1,072,696)	(796,657)	(672,391)
Purchase of marketable debt securities	(38,757)	(66,917)	(56,040)
Proceeds from sale of marketable debt securities	40,849	58,357	53,882
Investment in tax credit equity investments	(227,494)	(98,003)	(31,537)
Other, net	11,592	27,042	57,987
Net cash used in investing activities	(1,286,506)	(876,178)	(648,099)

Cash flows from financing activities:
Net (payments of)/proceeds from commercial paper	(629,600)	606,200	603,400
Proceeds from issuance of debt	2,300,000	1,750,000	750,000
Repayment of debt	(300,000)	(800,000)	(500,000)
Net proceeds from sale of common stock	176,236	182,494	113,934
Purchase of treasury stock	(3,140,917)	(3,699,552)	(4,359,991)
Repayment of principal portion of finance lease liabilities	(85,258)	(81,055)	(67,182)
Other, net	(4,197)	(18,169)	(10,658)
Net cash used in financing activities	(1,683,736)	(2,060,082)	(3,470,497)

Effect of exchange rate changes on cash	(12,756)	8,146	506

Net increase (decrease) in cash and cash equivalents	21,118	12,674	(906,955)
Cash and cash equivalents at beginning of period	277,054	264,380	1,171,335
Cash and cash equivalents at end of period	$298,172	$277,054	$264,380

Supplemental cash flow information:
Interest paid, net of interest cost capitalized	$353,819	$260,866	$178,561
Income taxes paid	$437,552	$570,250	$461,232
Leased assets obtained in exchange for new finance lease liabilities	$196,112	$58,316	$100,711
Leased assets obtained in exchange for new operating lease liabilities	$415,212	$428,150	$527,966

See Notes to Consolidated Financial Statements.

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