Solution
Akshay Kumar answered on
Dec 03 2021
Income Statement
AutoZone (AZO) Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands 12 Months Ended Common-Size Change
Aug. 29, 2020 Aug. 31, 2019 Aug. 25, 2018 Aug. 29, 2020 Aug. 31, 2019 Aug. 25, 2018 2019 to 2020 2018 to 2019
Income Statement [Abstract] (B#/$B$4) (C#/$C$4) (D#/$D$4) (F#-G#) (G#-H#)
Net sales $12,631,967 $11,863,743 $11,221,077 100.00% 100.00% 100.00% 0.00% 0.00%
Cost of sales, including warehouse and delivery expenses 5,861,214 5,498,742 5,247,331 46.40% 46.35% 46.76% 0.05% -0.41%
Gross profit 6,770,753 6,365,001 5,973,746 53.60% 53.65% 53.24% -0.05% 0.41%
Operating, selling, general and administrative expenses 4,353,074 4,148,864 4,162,890 34.46% 34.97% 37.10% -0.51% -2.13%
Operating profit 2,417,679 2,216,137 1,810,856 19.14% 18.68% 16.14% 0.46% 2.54%
Interest expense, net 201,165 184,804 174,527 1.59% 1.56% 1.56% 0.03% 0.00%
Income before income taxes 2,216,514 2,031,333 1,636,329 17.55% 17.12% 14.58% 0.42% 2.54%
Income tax expense 483,542 414,112 298,793 3.83% 3.49% 2.66% 0.34% 0.83%
Net income $1,732,972 $1,617,221 $1,337,536 13.72% 13.63% 11.92% 0.09% 1.71%
Weighted average shares for basic earnings per share 23,540 24,966 26,970 0.19% 0.21% 0.24% -0.02% -0.03%
Effect of dilutive stock equivalents 553 532 454 0.00% 0.00% 0.00% -0.00% 0.00%
Weighted average shares for diluted earnings per share 24,093 25,498 27,424 0.19% 0.21% 0.24% -0.02% -0.03%
Balance Sheet
AutoZone (AZO) Consolidated Balance Sheets - USD ($) $ in Thousands Common-Size Change
Aug. 29, 2020 Aug. 31, 2019 Aug. 31, 2018 Aug. 29, 2020 Aug. 31, 2019 Aug. 31, 2018 2019 to 2020 2018 to 2019
Cu
ent assets: B#/$B$23 C#/$C$23 D#/$D$23 (F#-G#) (G#-H#)
Cash and cash equivalents $1,750,815 $176,300 $217,824 12.14% 1.78% 2.33% 10.36% -0.55%
Accounts receivable 364,774 308,995 258,136 2.53% 3.12% 2.76% -0.59% 0.36%
Merchandise inventories 4,473,282 4,319,113 3,943,670 31.01% 43.65% 42.19% -12.63% 1.45%
Other cu
ent assets 223,001 224,277 216,239 1.55% 2.27% 2.31% -0.72% -0.05%
Total cu
ent assets 6,811,872 5,028,685 4,635,869 47.23% 50.82% 49.60% -3.59% 1.22%
Property and equipment: B#/$B$23 C#/$C$23 D#/$D$23 (F#-G#) (G#-H#)
Land 1,205,228 1,147,709 1,107,092 8.36% 11.60% 11.84% -3.24% -0.25%
Buildings and improvements 4,020,271 3,895,559 3,698,010 27.87% 39.37% 39.56% -11.49% -0.20%
Equipment 2,158,251 1,991,042 1,841,330 14.96% 20.12% 19.70% -5.16% 0.42%
Leasehold improvements 586,839 552,018 504,656 4.07% 5.58% 5.40% -1.51% 0.18%
Construction in progress 165,953 126,868 140,535 1.15% 1.28% 1.50% -0.13% -0.22%
Property and equipment 8,136,542 7,713,196 7,291,623 56.41% 77.94% 78.01% -21.53% -0.07%
Less: Accumulated depreciation and amortization -3,627,321 -3,314,445 15,301,849 -25.15% -33.49% 163.71% 8.35% -197.20%
Property and equipment, net 4,509,221 4,398,751 4,218,400 31.26% 44.45% 45.13% -13.19% -0.68%
Operating lease right-of-use assets 2,581,677 17.90% 0.00% 0.00% 17.90% 0.00%
Goodwill 302,645 302,645 302,645 2.10% 3.06% 3.24% -0.96% -0.18%
Defe
ed income taxes 27,843 26,861 34,620 0.19% 0.27% 0.37% -0.08% -0.10%
Other long-term assets 190,614 138,971 155,446 1.32% 1.40% 1.66% -0.08% -0.26%
Other long-term assets, total 3,102,779 468,477 492,711 21.51% 4.73% 5.27% 16.78% -0.54%
Assets 14,423,872 9,895,913 9,346,980 100.00% 100.00% 100.00% 0.00% 0.00%
Cu
ent liabilities: B#/$B$43 C#/$C$43 D#/$D$43 (F#-G#) (G#-H#)
Accounts...