Advance Auto Parts (AAP) 10-Q 24 May 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document Document - USD ($)	4 Months Ended
	Apr. 22, 2017	May 19, 2017	Jul. 15, 2016
Document Information [Line Items]
Entity Registrant Name	Advance Auto Parts Inc
Entity Central Index Key	1,158,449
Current Fiscal Year End Date	--12-30
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Apr. 22, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		73,844,670
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	No
Entity Public Float			$ 11,647,903,451

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Apr. 22, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 126,087	$ 135,178
Receivables, net	683,024	641,252
Inventories	4,413,803	4,325,868
Other current assets	83,779	70,466
Total current assets	5,306,693	5,172,764
Property and equipment, net of accumulated depreciation of $1,716,511 and $1,660,648	1,439,621	1,446,340
Goodwill	990,695	990,877
Intangible assets, net	626,974	640,903
Other assets, net	64,674	64,149
Assets, Total	8,428,657	8,315,033
Current liabilities:
Accounts payable	3,049,218	3,086,177
Accrued expenses	563,276	554,397
Other current liabilities	47,137	35,472
Total current liabilities	3,659,631	3,676,046
Long-term debt	1,073,372	1,042,949
Deferred income taxes	446,128	454,282
Other long-term liabilities	225,851	225,564
Commitments and Contingencies
Stockholders' equity:
Preferred stock, nonvoting, $0.0001 par value	0	0
Common stock, voting, $0.0001 par value	8	8
Additional paid-in capital	639,537	631,052
Treasury stock, at cost	(141,223)	(138,102)
Accumulated other comprehensive loss	(40,574)	(39,701)
Retained earnings	2,565,927	2,462,935
Total stockholders' equity	3,023,675	2,916,192
Liabilities and Stockholders' Equity, Total	$ 8,428,657	$ 8,315,033

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Apr. 22, 2017	Dec. 31, 2016
Accumulated Depreciation, Property and Equipment	$ 1,716,511	$ 1,660,648
Preferred Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Common Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	4 Months Ended
	Apr. 22, 2017	Apr. 23, 2016
Net sales	$ 2,890,838	$ 2,979,778
Cost of sales, including purchasing and warehousing costs	1,620,154	1,629,889
Gross profit	1,270,684	1,349,889
Selling, general and administrative expenses	1,090,904	1,078,890
Operating income	179,780	270,999
Other, net:
Interest expense	(18,430)	(18,943)
Other income, net	4,813	3,123
Total other, net	(13,617)	(15,820)
Income before provision for income taxes	166,163	255,179
Provision for income taxes	58,203	96,366
Net income	$ 107,960	$ 158,813
Basic earnings per share	$ 1.46	$ 2.16
Weighted average shares outstanding	73,782	73,401
Diluted earnings per share	$ 1.46	$ 2.14
Weighted average shares outstanding - assuming dilution	74,093	73,847
Dividends declared per share	$ 0.06	$ 0.06

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	4 Months Ended
	Apr. 22, 2017	Apr. 23, 2016
Net income	$ 107,960	$ 158,813
Changes in net unrecognized other postretirement benefit costs, net of tax of $55 and $118	(85)	(182)
Currency translation adjustments	(788)	16,425
Total other comprehensive (loss) income	(873)	16,243
Comprehensive income	$ 107,087	$ 175,056

CONSOLIDATED STATEMENTS OF COM6

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	4 Months Ended
	Apr. 22, 2017	Apr. 23, 2016
Changes in net unrecognized postretirement benefit costs, Tax	$ 55	$ 118

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	4 Months Ended
	Apr. 22, 2017	Apr. 23, 2016
Cash flows from operating activities:
Net income	$ 107,960	$ 158,813
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	77,430	79,320
Share-based compensation	12,374	6,654
Loss on property and equipment, net	275	1,484
(Benefit) provision for deferred income taxes	(7,704)	7,164
Other, net	1,699	(2,006)
Net change in:
Receivables, net	(42,207)	(50,224)
Inventories	(89,384)	(246,458)
Accounts payable	(36,710)	108,500
Accrued expenses	20,293	20,025
Other assets and liabilities	(8,945)	5,174
Net cash provided by operating activities	35,081	88,446
Cash flows from investing activities:
Purchases of property and equipment	(65,279)	(89,138)
Proceeds from sales of property and equipment	947	1,227
Other, net	193	0
Net cash used in investing activities	(64,139)	(87,911)
Cash flows from financing activities:
Increase in bank overdrafts	8,490	14,644
Borrowings under credit facilities	483,500	357,500
Payments on credit facilities	(453,500)	(331,500)
Dividends paid	(8,902)	(8,850)
Proceeds from the issuance of common stock	1,036	1,085
Tax withholdings related to the exercise of stock appreciation rights	(5,707)	(11,134)
Repurchase of common stock	(3,121)	(11,813)
Other, net	(1,924)	(125)
Net cash provided by financing activities	19,872	9,807
Effect of exchange rate changes on cash	95	2,584
Net (decrease) increase in cash and cash equivalents	(9,091)	12,926
Cash and cash equivalents, beginning of period	135,178	90,782
Cash and cash equivalents, end of period	126,087	103,708
Non-cash transactions:
Accrued purchases of property and equipment	$ 14,524	$ 20,504

Description of Business and Bas

Description of Business and Basis of Presentation	4 Months Ended
	Apr. 22, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Basis of Presentation	Basis of Presentation Advance Auto Parts, Inc. and subsidiaries is a leading automotive aftermarket parts provider in North America, serving both "do-it-for-me", or Professional, and "do-it-yourself", or DIY customers. The accompanying interim unaudited condensed consolidated financial statements have been prepared by the Company and include the accounts of Advance Auto Parts, Inc. ("Advance"), its wholly owned subsidiary, Advance Stores Company, Incorporated ("Advance Stores"), and its subsidiaries (collectively referred to as "Advance", "we", "us", "our" or "the Company"). As of April 22, 2017 , the Company operated a total of 5,059 stores and 130 distribution branches primarily within the United States, with additional locations in Canada, Puerto Rico and the U.S. Virgin Islands. The Company's stores operate primarily under the trade names "Advance Auto Parts," "Carquest" and "Autopart International," and our distribution branches operate under the "Worldpac" trade name. In addition, the Company serves approximately 1,250 independently-owned Carquest branded stores ("independent stores") as of April 22, 2017 across the same geographic locations served by the Company's stores in addition to Mexico, the Bahamas, Turks and Caicos, the British Virgin Islands and the Pacific Islands. The accounting policies followed in the presentation of interim financial results are consistent with those followed on an annual basis. All intercompany balances and transactions have been eliminated in consolidation. In the opinion of management, all adjustments consisting of normal recurring adjustments necessary for a fair presentation of the financial position of the Company, the results of its operations and cash flows have been made. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America, or GAAP, have been condensed or omitted based upon the Securities and Exchange Commission ("SEC") interim reporting guidance. These financial statements should be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for 2016 as filed with the SEC on February 28, 2017 . The results of operations for the interim periods are not necessarily indicative of the operating results to be expected for the full fiscal year. The first quarter of each of the Company's fiscal years contains 16 weeks. The Company's remaining three quarters consist of 12 weeks. Recently Adopted Accounting Pronouncements In March 2016, the FASB issued ASU 2016-09, "Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting" aimed at simplifying certain aspects of accounting for share-based payment transactions. The areas for simplification include the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. The Company adopted ASU 2016-09 in the first quarter of 2017 and recorded a cumulative effect reduction to beginning retained earnings of $490 related to the Company's election to record forfeitures as they occur. In addition, the Company elected to retrospectively adopt the provision regarding the presentation of excess tax benefits in the statement of cash flows, which resulted in an increase in our net cash provided by operating activities and a decrease in our net cash provided by financing activities of $13,145 for the sixteen weeks ended April 23, 2016. The provision requiring the inclusion of excess tax benefits (deficits) as a component of the provision for income taxes in the consolidated results of operations will be applied prospectively. The Company recorded excess tax benefits of $4,104 as a reduction in Provision for income taxes during the sixteen weeks ended April 22, 2017 . Recently Issued Accounting Pronouncements In February 2016, the FASB issued ASU 2016-02, "Leases (Topic 842)." This ASU is a comprehensive new leases standard that amends various aspects of existing guidance for leases and requires additional disclosures about leasing arrangements. It will require lessees to recognize lease assets and lease liabilities for all leases, including those leases previously classified as operating leases under current GAAP. The ASU is effective for annual periods beginning after December 15, 2018 with early adoption permitted. From a balance sheet perspective, the Company expects adoption of the new standard to have a material effect on its Total assets and Total liabilities as a result of recording the required right of use asset and associated lease liability. However, the Company has not completed its analysis and is unable to quantify the impact at this time. At this time the Company does not expect adoption of ASU 2016-02 to have a material impact on its consolidated statements of operations as the majority of its leases will remain operating in nature. As such, the expense recognition will be similar to previously required straight-line expense treatment. The Company is also in the process of identifying changes to its business processes, systems and controls to support adoption of the new standard in 2019. In May 2014, the FASB issued ASU 2014-09 "Revenue from Contracts with Customers (Topic 606)." This ASU, along with subsequent ASU's issued to clarify certain provisions of ASU 2014-09, is a comprehensive new revenue recognition model that expands disclosure requirements and requires a company to recognize revenue to depict the transfer of goods or services to a customer at an amount that reflects the consideration it expects to receive in exchange for those goods or services. ASU 2014-09 is effective for annual reporting periods beginning after December 15, 2017 with early adoption permitted. The Company plans to adopt the new standard effective January 1, 2018 and apply the modified retrospective method. The Company is currently analyzing the impact of ASU 2014-09, as amended, on its revenue contracts, comparing the Company's current accounting policies and practices to the requirements of the new standard and identifying potential differences that would result from applying the new standard to its contracts. At this time, the Company does not expect adoption of the new standard to have a material impact on its consolidated financial condition, results of operations or cash flows. Additionally, the Company does not anticipate any significant changes to business processes, controls or systems as a result of adopting the new standard.

Inventories

Inventories	4 Months Ended
	Apr. 22, 2017
Inventory, Net [Abstract]
Inventories	Inventories Inventories are stated at the lower of cost or market. The Company used the LIFO method of accounting for approximately 88% and 89% of inventories at April 22, 2017 and December 31, 2016 . Under the LIFO method, the Company’s cost of sales reflects the costs of the most recently purchased inventories, while the inventory carrying balance represents the costs for inventories purchased in 2017 and prior years. As a result of changes in the LIFO reserve, the Company recorded a reduction to cost of sales of $17,985 and $31,489 for the sixteen weeks ended April 22, 2017 and April 23, 2016 . An actual valuation of inventory under the LIFO method is performed by the Company at the end of each fiscal year based on the inventory levels and costs at that time. Accordingly, interim LIFO calculations are based on management’s estimates of expected year-end inventory levels and costs. Inventory balances were as follows: April 22, December 31, 2016 Inventories at FIFO $ 4,189,980 $ 4,120,030 Adjustments to state inventories at LIFO 223,823 205,838 Inventories at LIFO $ 4,413,803 $ 4,325,868

Exit Activities

Exit Activities	4 Months Ended
	Apr. 22, 2017
Restructuring and Related Activities [Abstract]
Exit Activities	Exit Activities Integration of Carquest stores The Company is in the process of a multi-year integration, which includes the consolidation and conversion of its Carquest stores acquired with General Parts International, Inc. (“GPI”) on January 2, 2014. As of April 22, 2017 , 339 Carquest stores acquired with GPI had been consolidated into existing Advance Auto Parts stores and 320 stores had been converted to the Advance Auto Parts format. During the sixteen weeks ended April 22, 2017 , a total of six Carquest stores were consolidated and 38 Carquest stores were converted. We expect to consolidate or convert the remaining U.S. Carquest stores over the next few years. As of April 22, 2017 , the Company had 565 stores still operating under the Carquest name. The Company incurred $1,094 and $12,185 of exit costs related to the consolidations during the sixteen weeks ended April 22, 2017 and April 23, 2016 , primarily related to closed store lease obligations. These costs are included in Selling, general and administrative expenses in the accompanying condensed consolidated statements of operations. Total Exit Liabilities The Company's total exit liabilities include liabilities recorded in connection with the consolidation of Carquest stores described above, along with liabilities associated with closures that have occurred as part of our normal market evaluation process. Cash payments on the closed facility lease obligations are expected to be made through 2028. A summary of the Company’s exit liabilities are presented in the following table: Closed Facility Lease Obligations Severance Total Balance, December 31, 2016 $ 44,265 $ 959 $ 45,224 Reserves established 1,589 59 1,648 Change in estimates 2,304 (156 ) 2,148 Cash payments (6,410 ) (300 ) (6,710 ) Balance, April 22, 2017 $ 41,748 $ 562 $ 42,310 Balance, January 2, 2016 $ 42,490 $ 6,255 $ 48,745 Reserves established 23,252 988 24,240 Change in estimates (3,073 ) (410 ) (3,483 ) Cash payments (18,404 ) (5,874 ) (24,278 ) Balance, December 31, 2016 $ 44,265 $ 959 $ 45,224

Intangible Assets

Intangible Assets	4 Months Ended
	Apr. 22, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible Assets The Company's definite-lived intangible assets include customer relationships, favorable leases and non-compete agreements. Amortization expense was $14,566 and $14,942 for the sixteen weeks ended April 22, 2017 and April 23, 2016 .

Receivables, net

Receivables, net	4 Months Ended
	Apr. 22, 2017
Receivables [Abstract]
Receivables, net	Receivables, net Receivables consist of the following: April 22, December 31, 2016 Trade $ 446,746 $ 407,301 Vendor 254,875 239,770 Other 13,849 23,345 Total receivables 715,470 670,416 Less: Allowance for doubtful accounts (32,446 ) (29,164 ) Receivables, net $ 683,024 $ 641,252

Long-term Debt and Fair Value o

Long-term Debt and Fair Value of Financial Instruments	4 Months Ended
	Apr. 22, 2017
Debt Disclosure [Abstract]
Long-term Debt and Fair Value of Financial Instruments	Long-term Debt and Fair Value of Financial Instruments Long-term debt consists of the following: April 22, December 31, Revolving facility at variable interest rates (4.10% at April 22, 2017) due January 31, 2022 $ 30,000 $ — 5.75% Senior Unsecured Notes (net of unamortized discount and debt issuance costs of $1,812 and $1,994 at April 22, 2017 and December 31, 2016) due May 1, 2020 298,188 298,006 4.50% Senior Unsecured Notes (net of unamortized discount and debt issuance costs of $1,300 and $1,384 at April 22, 2017 and December 31, 2016) due January 15, 2022 298,700 298,616 4.50% Senior Unsecured Notes (net of unamortized discount and debt issuance costs of $3,516 and $3,673 at April 22, 2017 and December 31, 2016) due December 1, 2023 446,484 446,327 Other 520 306 1,073,892 1,043,255 Less: Current portion of long-term debt (included in Other current liabilities) (520 ) (306 ) Long-term debt, excluding current portion $ 1,073,372 $ 1,042,949 Fair value of long-term debt $ 1,158,000 $ 1,118,000 Fair Value of Financial Assets and Liabilities The fair value of the Company's senior unsecured notes was determined using Level 2 inputs based on quoted market prices. The Company believes the carrying value of its other long-term debt approximates fair value. The carrying amounts of the Company's cash and cash equivalents, receivables, accounts payable and accrued expenses approximate their fair values due to the relatively short-term nature of these instruments. Bank Debt On January 31, 2017, the Company entered into a new credit agreement which provides a $1,000,000 unsecured revolving credit facility (the “2017 Credit Agreement”) with Advance Stores, as Borrower, the lenders party thereto, and Bank of America, N.A., as the administrative agent. This new revolver under the 2017 Credit Agreement replaced the revolver under the 2013 Credit Agreement. The 2017 Credit Agreement provides for the issuance of letters of credit with a sublimit of $200,000 . The Company may request that the total revolving commitment be increased by an amount not exceeding $250,000 during the term of the 2017 Credit Agreement. Voluntary prepayments and voluntary reductions of the revolving loan balance, if any, are permitted in whole or in part, at the Company’s option, in minimum principal amounts as specified in the 2017 Credit Agreement. The 2017 Credit Agreement terminates in January 2022; however, the Company may request one or two one-year extensions of the termination date prior to the first or second anniversary of the closing date. As of April 22, 2017 , under the 2017 Credit Agreement, the Company had $30,000 outstanding borrowings under the revolver. As of April 22, 2017 , the Company also had letters of credit outstanding of $100,719 , which in conjunction with certain covenant restrictions reduced the availability under the revolver to $787,788 . The letters of credit generally have a term of one year or less and primarily serve as collateral for the Company’s self-insurance policies. The interest rates on outstanding amounts, if any, on the revolving facility under the 2017 Credit Agreement will be based, at the Company’s option, on an adjusted LIBOR, plus a margin, or an alternate base rate, plus a margin. After an initial interest period, the Company may elect to convert a particular borrowing to a different type. The initial margins per annum for the revolving loan are 1.10% for the adjusted LIBOR and 0.10% for alternate base rate borrowings. A facility fee of 0.15% per annum will be charged on the total revolving facility commitment, payable quarterly in arrears. Under the terms of the 2017 Credit Agreement, the interest rate spread, facility fee and commitment fee will be based on the Company’s credit rating. The 2017 Credit Agreement contains customary covenants restricting the ability of: (a) Advance Stores and its subsidiaries to, among other things, (i) create, incur or assume additional debt (only with respect to subsidiaries of Advance Stores), (ii) incur liens, (iii) guarantee obligations, and (iv) change the nature of its business conducted by itself and its subsidiaries; (b) Advance, Advance Stores and their subsidiaries to, among other things (i) enter into certain hedging arrangements, (ii) enter into restrictive agreements limiting their ability to incur liens on any of their property or assets, pay distributions, repay loans, or guarantee indebtedness of their subsidiaries; and (c) Advance, among other things, to change the holding company status of Advance. Advance Stores is required to comply with financial covenants with respect to a maximum leverage ratio and a minimum coverage ratio. The 2017 Credit Agreement also provides for customary events of default, including non-payment defaults, covenant defaults and cross-defaults of Advance Stores’ other material indebtedness. The Company was in compliance with its financial covenants with respect to the 2017 Credit Agreement as of April 22, 2017 . Debt Guarantees The Company is a guarantor of loans made by banks to various independently-owned Carquest branded stores that are customers of the Company totaling $24,426 as of April 22, 2017 . These loans are collateralized by security agreements on merchandise inventory and other assets of the borrowers. The approximate value of the inventory collateralized by these agreements is $67,046 as of April 22, 2017 . The Company believes that the likelihood of performance under these guarantees is remote, and any fair value attributable to these guarantees would be very minimal.

Earnings per Share

Earnings per Share	4 Months Ended
	Apr. 22, 2017
Earnings Per Share [Abstract]
Earnings Per Share	Earnings per Share Diluted earnings per share are calculated by including the effect of dilutive securities. Share-based awards to purchase approximately 42 and 22 shares of common stock during the sixteen week periods ended April 22, 2017 and April 23, 2016 were not included in the calculation of diluted earnings per share because they were anti-dilutive. The following table illustrates the computation of basic and diluted earnings per share: Sixteen Weeks Ended April 22, April 23, Numerator Net income $ 107,960 $ 158,813 Denominator Basic weighted average shares 73,782 73,401 Dilutive impact of share-based awards 311 446 Diluted weighted average shares 74,093 73,847 Basic earnings per share $ 1.46 $ 2.16 Diluted earnings per share $ 1.46 $ 2.14

Share-Based Compensation

Share-Based Compensation	4 Months Ended
	Apr. 22, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Compensation	Share-Based Compensation During the sixteen week period ended April 22, 2017 , the Company granted 145 time-based restricted stock units ("RSUs"), 46 performance-based RSUs and 23 market-based RSUs. The general terms of the time-based and performance-based RSUs are similar to awards previously granted by the Company. The market-based RSUs will vest depending on the Company's relative total shareholder return among a designated group of peer companies during a three-year period and will be subject to a one-year holding period after vesting. The weighted average fair values of the time-based, performance-based and market-based RSUs granted during the sixteen week period ended April 22, 2017 were $157.94 , $155.98 and $147.83 per share. For time-based and performance-based RSUs, the fair value of each award was determined based on the market price of the Company’s stock on the date of grant adjusted for expected dividends during the vesting period, as applicable. The fair value of each market-based RSU was determined using a Monte Carlo simulation model. Total share-based compensation expense included in the Company’s condensed consolidated statements of operations was $12,374 for the sixteen week period ended April 22, 2017 and the related income tax benefit recognized was $4,662 . As of April 22, 2017 , there was $59,612 of unrecognized compensation expense related to all share-based awards that is expected to be recognized over a weighted average period of 1.8 years .

Warranty Liabilities

Warranty Liabilities	4 Months Ended
	Apr. 22, 2017
Product Warranties Disclosures [Abstract]
Warranty Liabilities	Warranty Liabilities The following table presents changes in the Company’s warranty reserves, which are included in Accrued expenses in its condensed consolidated balance sheets. April 22, December 31, 2016 (16 weeks ended) (52 weeks ended) Warranty reserve, beginning of period $ 47,243 $ 44,479 Additions to warranty reserves 15,969 46,903 Reserves utilized (13,106 ) (44,139 ) Warranty reserve, end of period $ 50,106 $ 47,243

Condensed Consolidating Financi

Condensed Consolidating Financial Statements	4 Months Ended
	Apr. 22, 2017
Condensed Consolidating Financial Statements [Abstract]
Condensed Consolidating Financial Statements	Condensed Consolidating Financial Statements Certain 100% wholly-owned domestic subsidiaries of Advance, including its Material Subsidiaries (as defined in the 2017 Credit Agreement) serve as guarantors of Advance's senior unsecured notes ("Guarantor Subsidiaries"). The subsidiary guarantees related to Advance's senior unsecured notes are full and unconditional and joint and several, and there are no restrictions on the ability of Advance to obtain funds from its Guarantor Subsidiaries. Certain of Advance's wholly-owned subsidiaries, including all of its foreign subsidiaries, do not serve as guarantors of Advance's senior unsecured notes ("Non-Guarantor Subsidiaries"). The Company presents below the condensed consolidating financial information for the Guarantor Subsidiaries and Non-Guarantor Subsidiaries. Investments in subsidiaries of the Company are presented under the equity method in the condensed consolidating financial statements. Set forth below are condensed consolidating financial statements presenting the financial position, results of operations, and cash flows of (i) Advance, (ii) the Guarantor Subsidiaries, (iii) the Non-Guarantor Subsidiaries, and (iv) the eliminations necessary to arrive at consolidated information for the Company. The statement of operations eliminations relate primarily to the sale of inventory from a Non-Guarantor Subsidiary to a Guarantor Subsidiary. The balance sheet eliminations relate primarily to the elimination of intercompany receivables and payables and subsidiary investment accounts. Condensed Consolidating Balance Sheets (Unaudited) As of April 22, 2017 Advance Auto Parts, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ 22 $ 87,644 $ 38,443 $ (22 ) $ 126,087 Receivables, net — 647,480 35,544 — 683,024 Inventories — 4,218,338 195,465 — 4,413,803 Other current assets 179 82,726 1,133 (259 ) 83,779 Total current assets 201 5,036,188 270,585 (281 ) 5,306,693 Property and equipment, net of accumulated depreciation 120 1,430,216 9,285 — 1,439,621 Goodwill — 943,359 47,336 — 990,695 Intangible assets, net — 582,594 44,380 — 626,974 Other assets, net 4,513 64,053 621 (4,513 ) 64,674 Investment in subsidiaries 3,121,169 390,370 — (3,511,539 ) — Intercompany note receivable 1,048,508 — — (1,048,508 ) — Due from intercompany, net — — 319,244 (319,244 ) — $ 4,174,511 $ 8,446,780 $ 691,451 $ (4,884,085 ) $ 8,428,657 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 35 $ 2,795,980 $ 253,203 $ — $ 3,049,218 Accrued expenses 2,000 540,074 21,461 (259 ) 563,276 Other current liabilities — 42,307 4,852 (22 ) 47,137 Total current liabilities 2,035 3,378,361 279,516 (281 ) 3,659,631 Long-term debt 1,043,372 30,000 — — 1,073,372 Deferred income taxes — 431,097 19,544 (4,513 ) 446,128 Other long-term liabilities — 223,830 2,021 — 225,851 Intercompany note payable — 1,048,508 — (1,048,508 ) — Due to intercompany, net 105,429 213,815 — (319,244 ) — Commitments and contingencies Stockholders' equity 3,023,675 3,121,169 390,370 (3,511,539 ) 3,023,675 $ 4,174,511 $ 8,446,780 $ 691,451 $ (4,884,085 ) $ 8,428,657 Condensed Consolidating Balance Sheets ( Unaudited ) As of December 31, 2016 Advance Auto Parts, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ 22 $ 78,543 $ 56,635 $ (22 ) $ 135,178 Receivables, net — 619,229 22,023 — 641,252 Inventories — 4,126,465 199,403 — 4,325,868 Other current assets — 69,385 1,153 (72 ) 70,466 Total current assets 22 4,893,622 279,214 (94 ) 5,172,764 Property and equipment, net of accumulated depreciation 128 1,436,459 9,753 — 1,446,340 Goodwill — 943,359 47,518 — 990,877 Intangible assets, net — 595,596 45,307 — 640,903 Other assets, net 4,634 63,376 773 (4,634 ) 64,149 Investment in subsidiaries 3,008,856 375,420 — (3,384,276 ) — Intercompany note receivable 1,048,424 — — (1,048,424 ) — Due from intercompany, net — — 316,109 (316,109 ) — $ 4,062,064 $ 8,307,832 $ 698,674 $ (4,753,537 ) $ 8,315,033 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ — $ 2,813,937 $ 272,240 $ — $ 3,086,177 Accrued expenses 1,505 526,652 26,312 (72 ) 554,397 Other current liabilities — 32,508 2,986 (22 ) 35,472 Total current liabilities 1,505 3,373,097 301,538 (94 ) 3,676,046 Long-term debt 1,042,949 — — — 1,042,949 Deferred income taxes — 439,283 19,633 (4,634 ) 454,282 Other long-term liabilities — 223,481 2,083 — 225,564 Intercompany note payable — 1,048,424 — (1,048,424 ) — Due to intercompany, net 101,418 214,691 — (316,109 ) — Commitments and contingencies Stockholders' equity 2,916,192 3,008,856 375,420 (3,384,276 ) 2,916,192 $ 4,062,064 $ 8,307,832 $ 698,674 $ (4,753,537 ) $ 8,315,033 Condensed Consolidating Statements of Operations ( Unaudited ) For the Sixteen weeks ended April 22, 2017 Advance Auto Parts, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net sales $ — $ 2,801,854 $ 172,004 $ (83,020 ) $ 2,890,838 Cost of sales, including purchasing and warehousing costs — 1,577,273 125,901 (83,020 ) 1,620,154 Gross profit — 1,224,581 46,103 — 1,270,684 Selling, general and administrative expenses 14,797 1,067,656 24,402 (15,951 ) 1,090,904 Operating (loss) income (14,797 ) 156,925 21,701 15,951 179,780 Other, net: Interest (expense) income (16,290 ) (2,159 ) 19 — (18,430 ) Other income (expense), net 31,784 (7,352 ) (3,668 ) (15,951 ) 4,813 Total other, net 15,494 (9,511 ) (3,649 ) (15,951 ) (13,617 ) Income before provision for income taxes 697 147,414 18,052 — 166,163 (Benefit) provision for income taxes (1,743 ) 57,446 2,500 — 58,203 Income before equity in earnings of subsidiaries 2,440 89,968 15,552 — 107,960 Equity in earnings of subsidiaries 105,520 15,552 — (121,072 ) — Net income $ 107,960 $ 105,520 $ 15,552 $ (121,072 ) $ 107,960 Condensed Consolidating Statements of Operations ( Unaudited ) For the Sixteen weeks ended April 23, 2016 Advance Auto Parts, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net sales $ — $ 2,892,386 $ 188,975 $ (101,583 ) $ 2,979,778 Cost of sales, including purchasing and warehousing costs — 1,598,817 132,655 (101,583 ) 1,629,889 Gross profit — 1,293,569 56,320 — 1,349,889 Selling, general and administrative expenses 7,911 1,060,767 28,358 (18,146 ) 1,078,890 Operating (loss) income (7,911 ) 232,802 27,962 18,146 270,999 Other, net: Interest (expense) income (16,143 ) (2,823 ) 23 — (18,943 ) Other income (expense), net 23,542 (6,276 ) 4,003 (18,146 ) 3,123 Total other, net 7,399 (9,099 ) 4,026 (18,146 ) (15,820 ) (Loss) income before provision for income taxes (512 ) 223,703 31,988 — 255,179 (Benefit) provision for income taxes (1,430 ) 91,275 6,521 — 96,366 Income before equity in earnings of subsidiaries 918 132,428 25,467 — 158,813 Equity in earnings of subsidiaries 157,895 25,467 — (183,362 ) — Net income $ 158,813 $ 157,895 $ 25,467 $ (183,362 ) $ 158,813 Condensed Consolidating Statements of Comprehensive Income ( Unaudited ) For the Sixteen Weeks ended April 22, 2017 Advance Auto Parts, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net income $ 107,960 $ 105,520 $ 15,552 $ (121,072 ) $ 107,960 Other comprehensive loss (873 ) (873 ) (788 ) 1,661 (873 ) Comprehensive income $ 107,087 $ 104,647 $ 14,764 $ (119,411 ) $ 107,087 Condensed Consolidating Statements of Comprehensive Income (Unaudited) For the Sixteen Weeks ended April 23, 2016 Advance Auto Parts, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net income $ 158,813 $ 157,895 $ 25,467 $ (183,362 ) $ 158,813 Other comprehensive income 16,243 16,243 16,425 (32,668 ) 16,243 Comprehensive income $ 175,056 $ 174,138 $ 41,892 $ (216,030 ) $ 175,056 Condensed Consolidating Statements of Cash Flows (Unaudited) For the Sixteen weeks ended April 22, 2017 Advance Auto Parts, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net cash provided by (used in) operating activities $ — $ 55,378 $ (20,297 ) $ — $ 35,081 Cash flows from investing activities: Purchases of property and equipment — (64,978 ) (301 ) — (65,279 ) Proceeds from sales of property and equipment — 947 — — 947 Other, net — (253 ) 446 — 193 Net cash (used in) provided by investing activities — (64,284 ) 145 — (64,139 ) Cash flows from financing activities: Increase in bank overdrafts — 6,625 1,865 — 8,490 Borrowings under credit facilities — 483,500 — — 483,500 Payments on credit facilities — (453,500 ) — — (453,500 ) Dividends paid — (8,902 ) — — (8,902 ) Proceeds from the issuance of common stock — 1,036 — — 1,036 Tax withholdings related to the exercise of stock appreciation rights — (5,707 ) — — (5,707 ) Repurchase of common stock — (3,121 ) — — (3,121 ) Other, net — (1,924 ) — — (1,924 ) Net cash provided by financing activities — 18,007 1,865 — 19,872 Effect of exchange rate changes on cash — — 95 — 95 Net increase (decrease) in cash and cash equivalents — 9,101 (18,192 ) — (9,091 ) Cash and cash equivalents , beginning of period 22 78,543 56,635 (22 ) 135,178 Cash and cash equivalents , end of period $ 22 $ 87,644 $ 38,443 $ (22 ) $ 126,087 Condensed Consolidating Statements of Cash Flows (Unaudited) For the Sixteen weeks ended April 23, 2016 Advance Auto Parts, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net cash provided by (used in) operating activities $ — $ 89,349 $ (903 ) $ — $ 88,446 Cash flows from investing activities: Purchases of property and equipment — (88,303 ) (835 ) — (89,138 ) Proceeds from sales of property and equipment — 1,226 1 — 1,227 Net cash used in investing activities — (87,077 ) (834 ) — (87,911 ) Cash flows from financing activities: Increase in bank overdrafts — 7,670 6,974 — 14,644 Borrowings under credit facilities — 357,500 — — 357,500 Payments on credit facilities — (331,500 ) — — (331,500 ) Dividends paid — (8,850 ) — — (8,850 ) Proceeds from the issuance of common stock — 1,085 — — 1,085 Tax withholdings related to the exercise of stock appreciation rights — (11,134 ) — — (11,134 ) Repurchase of common stock — (11,813 ) — — (11,813 ) Other, net — (125 ) — — (125 ) Net cash provided by financing activities — 2,833 6,974 — 9,807 Effect of exchange rate changes on cash — — 2,584 — 2,584 Net increase in cash and cash equivalents — 5,105 7,821 — 12,926 Cash and cash equivalents , beginning of period 8 63,458 27,324 (8 ) 90,782 Cash and cash equivalents , end of period $ 8 $ 68,563 $ 35,145 $ (8 ) $ 103,708

Inventories (Tables)

Inventories (Tables)	4 Months Ended
	Apr. 22, 2017
Inventory, Net [Abstract]
Schedule of Inventory, Current [Table Text Block]	Inventory balances were as follows: April 22, December 31, 2016 Inventories at FIFO $ 4,189,980 $ 4,120,030 Adjustments to state inventories at LIFO 223,823 205,838 Inventories at LIFO $ 4,413,803 $ 4,325,868

Exit Activities (Tables)

Exit Activities (Tables)	4 Months Ended
	Apr. 22, 2017
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Reserve by Type of Cost [Table Text Block]	Total Exit Liabilities The Company's total exit liabilities include liabilities recorded in connection with the consolidation of Carquest stores described above, along with liabilities associated with closures that have occurred as part of our normal market evaluation process. Cash payments on the closed facility lease obligations are expected to be made through 2028. A summary of the Company’s exit liabilities are presented in the following table: Closed Facility Lease Obligations Severance Total Balance, December 31, 2016 $ 44,265 $ 959 $ 45,224 Reserves established 1,589 59 1,648 Change in estimates 2,304 (156 ) 2,148 Cash payments (6,410 ) (300 ) (6,710 ) Balance, April 22, 2017 $ 41,748 $ 562 $ 42,310 Balance, January 2, 2016 $ 42,490 $ 6,255 $ 48,745 Reserves established 23,252 988 24,240 Change in estimates (3,073 ) (410 ) (3,483 ) Cash payments (18,404 ) (5,874 ) (24,278 ) Balance, December 31, 2016 $ 44,265 $ 959 $ 45,224

Receivables, net (Tables)

Receivables, net (Tables)	4 Months Ended
	Apr. 22, 2017
Receivables [Abstract]
Schedule of Accounts Receivable [Table Text Block]	Receivables consist of the following: April 22, December 31, 2016 Trade $ 446,746 $ 407,301 Vendor 254,875 239,770 Other 13,849 23,345 Total receivables 715,470 670,416 Less: Allowance for doubtful accounts (32,446 ) (29,164 ) Receivables, net $ 683,024 $ 641,252

Long-term Debt and Fair Value21

Long-term Debt and Fair Value of Financial Instruments (Tables)	4 Months Ended
	Apr. 22, 2017
Debt Disclosure [Abstract]
Schedule of Debt [Table Text Block]	Long-term debt consists of the following: April 22, December 31, Revolving facility at variable interest rates (4.10% at April 22, 2017) due January 31, 2022 $ 30,000 $ — 5.75% Senior Unsecured Notes (net of unamortized discount and debt issuance costs of $1,812 and $1,994 at April 22, 2017 and December 31, 2016) due May 1, 2020 298,188 298,006 4.50% Senior Unsecured Notes (net of unamortized discount and debt issuance costs of $1,300 and $1,384 at April 22, 2017 and December 31, 2016) due January 15, 2022 298,700 298,616 4.50% Senior Unsecured Notes (net of unamortized discount and debt issuance costs of $3,516 and $3,673 at April 22, 2017 and December 31, 2016) due December 1, 2023 446,484 446,327 Other 520 306 1,073,892 1,043,255 Less: Current portion of long-term debt (included in Other current liabilities) (520 ) (306 ) Long-term debt, excluding current portion $ 1,073,372 $ 1,042,949 Fair value of long-term debt $ 1,158,000 $ 1,118,000

Earnings per Share (Tables)

Earnings per Share (Tables)	4 Months Ended
	Apr. 22, 2017
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	The following table illustrates the computation of basic and diluted earnings per share: Sixteen Weeks Ended April 22, April 23, Numerator Net income $ 107,960 $ 158,813 Denominator Basic weighted average shares 73,782 73,401 Dilutive impact of share-based awards 311 446 Diluted weighted average shares 74,093 73,847 Basic earnings per share $ 1.46 $ 2.16 Diluted earnings per share $ 1.46 $ 2.14

Warranty Liabilities (Tables)

Warranty Liabilities (Tables)	4 Months Ended
	Apr. 22, 2017
Product Warranties Disclosures [Abstract]
Schedule of Product Warranty Liability [Table Text Block]	The following table presents changes in the Company’s warranty reserves, which are included in Accrued expenses in its condensed consolidated balance sheets. April 22, December 31, 2016 (16 weeks ended) (52 weeks ended) Warranty reserve, beginning of period $ 47,243 $ 44,479 Additions to warranty reserves 15,969 46,903 Reserves utilized (13,106 ) (44,139 ) Warranty reserve, end of period $ 50,106 $ 47,243

Condensed Consolidating Finan24

Condensed Consolidating Financial Statements (Tables)	4 Months Ended
	Apr. 22, 2017
Condensed Consolidating Financial Statements [Abstract]
Condensed Balance Sheet [Table Text Block]	Condensed Consolidating Balance Sheets (Unaudited) As of April 22, 2017 Advance Auto Parts, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ 22 $ 87,644 $ 38,443 $ (22 ) $ 126,087 Receivables, net — 647,480 35,544 — 683,024 Inventories — 4,218,338 195,465 — 4,413,803 Other current assets 179 82,726 1,133 (259 ) 83,779 Total current assets 201 5,036,188 270,585 (281 ) 5,306,693 Property and equipment, net of accumulated depreciation 120 1,430,216 9,285 — 1,439,621 Goodwill — 943,359 47,336 — 990,695 Intangible assets, net — 582,594 44,380 — 626,974 Other assets, net 4,513 64,053 621 (4,513 ) 64,674 Investment in subsidiaries 3,121,169 390,370 — (3,511,539 ) — Intercompany note receivable 1,048,508 — — (1,048,508 ) — Due from intercompany, net — — 319,244 (319,244 ) — $ 4,174,511 $ 8,446,780 $ 691,451 $ (4,884,085 ) $ 8,428,657 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 35 $ 2,795,980 $ 253,203 $ — $ 3,049,218 Accrued expenses 2,000 540,074 21,461 (259 ) 563,276 Other current liabilities — 42,307 4,852 (22 ) 47,137 Total current liabilities 2,035 3,378,361 279,516 (281 ) 3,659,631 Long-term debt 1,043,372 30,000 — — 1,073,372 Deferred income taxes — 431,097 19,544 (4,513 ) 446,128 Other long-term liabilities — 223,830 2,021 — 225,851 Intercompany note payable — 1,048,508 — (1,048,508 ) — Due to intercompany, net 105,429 213,815 — (319,244 ) — Commitments and contingencies Stockholders' equity 3,023,675 3,121,169 390,370 (3,511,539 ) 3,023,675 $ 4,174,511 $ 8,446,780 $ 691,451 $ (4,884,085 ) $ 8,428,657 Condensed Consolidating Balance Sheets ( Unaudited ) As of December 31, 2016 Advance Auto Parts, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ 22 $ 78,543 $ 56,635 $ (22 ) $ 135,178 Receivables, net — 619,229 22,023 — 641,252 Inventories — 4,126,465 199,403 — 4,325,868 Other current assets — 69,385 1,153 (72 ) 70,466 Total current assets 22 4,893,622 279,214 (94 ) 5,172,764 Property and equipment, net of accumulated depreciation 128 1,436,459 9,753 — 1,446,340 Goodwill — 943,359 47,518 — 990,877 Intangible assets, net — 595,596 45,307 — 640,903 Other assets, net 4,634 63,376 773 (4,634 ) 64,149 Investment in subsidiaries 3,008,856 375,420 — (3,384,276 ) — Intercompany note receivable 1,048,424 — — (1,048,424 ) — Due from intercompany, net — — 316,109 (316,109 ) — $ 4,062,064 $ 8,307,832 $ 698,674 $ (4,753,537 ) $ 8,315,033 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ — $ 2,813,937 $ 272,240 $ — $ 3,086,177 Accrued expenses 1,505 526,652 26,312 (72 ) 554,397 Other current liabilities — 32,508 2,986 (22 ) 35,472 Total current liabilities 1,505 3,373,097 301,538 (94 ) 3,676,046 Long-term debt 1,042,949 — — — 1,042,949 Deferred income taxes — 439,283 19,633 (4,634 ) 454,282 Other long-term liabilities — 223,481 2,083 — 225,564 Intercompany note payable — 1,048,424 — (1,048,424 ) — Due to intercompany, net 101,418 214,691 — (316,109 ) — Commitments and contingencies Stockholders' equity 2,916,192 3,008,856 375,420 (3,384,276 ) 2,916,192 $ 4,062,064 $ 8,307,832 $ 698,674 $ (4,753,537 ) $ 8,315,033
Condensed Income Statement [Table Text Block]	Condensed Consolidating Statements of Operations ( Unaudited ) For the Sixteen weeks ended April 22, 2017 Advance Auto Parts, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net sales $ — $ 2,801,854 $ 172,004 $ (83,020 ) $ 2,890,838 Cost of sales, including purchasing and warehousing costs — 1,577,273 125,901 (83,020 ) 1,620,154 Gross profit — 1,224,581 46,103 — 1,270,684 Selling, general and administrative expenses 14,797 1,067,656 24,402 (15,951 ) 1,090,904 Operating (loss) income (14,797 ) 156,925 21,701 15,951 179,780 Other, net: Interest (expense) income (16,290 ) (2,159 ) 19 — (18,430 ) Other income (expense), net 31,784 (7,352 ) (3,668 ) (15,951 ) 4,813 Total other, net 15,494 (9,511 ) (3,649 ) (15,951 ) (13,617 ) Income before provision for income taxes 697 147,414 18,052 — 166,163 (Benefit) provision for income taxes (1,743 ) 57,446 2,500 — 58,203 Income before equity in earnings of subsidiaries 2,440 89,968 15,552 — 107,960 Equity in earnings of subsidiaries 105,520 15,552 — (121,072 ) — Net income $ 107,960 $ 105,520 $ 15,552 $ (121,072 ) $ 107,960 Condensed Consolidating Statements of Operations ( Unaudited ) For the Sixteen weeks ended April 23, 2016 Advance Auto Parts, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net sales $ — $ 2,892,386 $ 188,975 $ (101,583 ) $ 2,979,778 Cost of sales, including purchasing and warehousing costs — 1,598,817 132,655 (101,583 ) 1,629,889 Gross profit — 1,293,569 56,320 — 1,349,889 Selling, general and administrative expenses 7,911 1,060,767 28,358 (18,146 ) 1,078,890 Operating (loss) income (7,911 ) 232,802 27,962 18,146 270,999 Other, net: Interest (expense) income (16,143 ) (2,823 ) 23 — (18,943 ) Other income (expense), net 23,542 (6,276 ) 4,003 (18,146 ) 3,123 Total other, net 7,399 (9,099 ) 4,026 (18,146 ) (15,820 ) (Loss) income before provision for income taxes (512 ) 223,703 31,988 — 255,179 (Benefit) provision for income taxes (1,430 ) 91,275 6,521 — 96,366 Income before equity in earnings of subsidiaries 918 132,428 25,467 — 158,813 Equity in earnings of subsidiaries 157,895 25,467 — (183,362 ) — Net income $ 158,813 $ 157,895 $ 25,467 $ (183,362 ) $ 158,813
Condensed Comprehensive Income [Table Text Block]	Condensed Consolidating Statements of Comprehensive Income ( Unaudited ) For the Sixteen Weeks ended April 22, 2017 Advance Auto Parts, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net income $ 107,960 $ 105,520 $ 15,552 $ (121,072 ) $ 107,960 Other comprehensive loss (873 ) (873 ) (788 ) 1,661 (873 ) Comprehensive income $ 107,087 $ 104,647 $ 14,764 $ (119,411 ) $ 107,087 Condensed Consolidating Statements of Comprehensive Income (Unaudited) For the Sixteen Weeks ended April 23, 2016 Advance Auto Parts, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net income $ 158,813 $ 157,895 $ 25,467 $ (183,362 ) $ 158,813 Other comprehensive income 16,243 16,243 16,425 (32,668 ) 16,243 Comprehensive income $ 175,056 $ 174,138 $ 41,892 $ (216,030 ) $ 175,056
Condensed Cash Flow Statement [Table Text Block]	Condensed Consolidating Statements of Cash Flows (Unaudited) For the Sixteen weeks ended April 22, 2017 Advance Auto Parts, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net cash provided by (used in) operating activities $ — $ 55,378 $ (20,297 ) $ — $ 35,081 Cash flows from investing activities: Purchases of property and equipment — (64,978 ) (301 ) — (65,279 ) Proceeds from sales of property and equipment — 947 — — 947 Other, net — (253 ) 446 — 193 Net cash (used in) provided by investing activities — (64,284 ) 145 — (64,139 ) Cash flows from financing activities: Increase in bank overdrafts — 6,625 1,865 — 8,490 Borrowings under credit facilities — 483,500 — — 483,500 Payments on credit facilities — (453,500 ) — — (453,500 ) Dividends paid — (8,902 ) — — (8,902 ) Proceeds from the issuance of common stock — 1,036 — — 1,036 Tax withholdings related to the exercise of stock appreciation rights — (5,707 ) — — (5,707 ) Repurchase of common stock — (3,121 ) — — (3,121 ) Other, net — (1,924 ) — — (1,924 ) Net cash provided by financing activities — 18,007 1,865 — 19,872 Effect of exchange rate changes on cash — — 95 — 95 Net increase (decrease) in cash and cash equivalents — 9,101 (18,192 ) — (9,091 ) Cash and cash equivalents , beginning of period 22 78,543 56,635 (22 ) 135,178 Cash and cash equivalents , end of period $ 22 $ 87,644 $ 38,443 $ (22 ) $ 126,087 Condensed Consolidating Statements of Cash Flows (Unaudited) For the Sixteen weeks ended April 23, 2016 Advance Auto Parts, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net cash provided by (used in) operating activities $ — $ 89,349 $ (903 ) $ — $ 88,446 Cash flows from investing activities: Purchases of property and equipment — (88,303 ) (835 ) — (89,138 ) Proceeds from sales of property and equipment — 1,226 1 — 1,227 Net cash used in investing activities — (87,077 ) (834 ) — (87,911 ) Cash flows from financing activities: Increase in bank overdrafts — 7,670 6,974 — 14,644 Borrowings under credit facilities — 357,500 — — 357,500 Payments on credit facilities — (331,500 ) — — (331,500 ) Dividends paid — (8,850 ) — — (8,850 ) Proceeds from the issuance of common stock — 1,085 — — 1,085 Tax withholdings related to the exercise of stock appreciation rights — (11,134 ) — — (11,134 ) Repurchase of common stock — (11,813 ) — — (11,813 ) Other, net — (125 ) — — (125 ) Net cash provided by financing activities — 2,833 6,974 — 9,807 Effect of exchange rate changes on cash — — 2,584 — 2,584 Net increase in cash and cash equivalents — 5,105 7,821 — 12,926 Cash and cash equivalents , beginning of period 8 63,458 27,324 (8 ) 90,782 Cash and cash equivalents , end of period $ 8 $ 68,563 $ 35,145 $ (8 ) $ 103,708

Description of Business and B25

Description of Business and Basis of Presentation (Details) $ in Thousands	4 Months Ended
	Apr. 22, 2017USD ($)	Apr. 23, 2016USD ($)
Basis of Presentation [Line Items]
Cumulative Effect on Retained Earnings, Net of Tax	$ 490
Excess Tax Benefit from Share-based Compensation, Operating Activities	$ 4,104	$ 13,145
Stores [Member]
Basis of Presentation [Line Items]
Number of Stores	5,059
Branches [Member]
Basis of Presentation [Line Items]
Number of Stores	130
Independently-owned Carquest store locations [Member]
Basis of Presentation [Line Items]
Number of Stores	1,250

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	4 Months Ended
	Apr. 22, 2017	Apr. 23, 2016	Dec. 31, 2016
Inventory [Line Items]
Percentage of LIFO Inventory	88.00%		89.00%
Inventory, LIFO Reserve, Effect on Income, Net	$ 17,985	$ 31,489
Inventories at FIFO	4,189,980		$ 4,120,030
Adjustments to state inventories at LIFO	223,823		205,838
Inventories at LIFO	$ 4,413,803		$ 4,325,868

Exit Activities (Details)

Exit Activities (Details) $ in Thousands	4 Months Ended		12 Months Ended
	Apr. 22, 2017USD ($)	Apr. 23, 2016USD ($)	Dec. 31, 2016USD ($)
Restructuring Reserve [Roll Forward]
Restructuring Reserve, beginning of period	$ 45,224	$ 48,745	$ 48,745
Reserves established	1,648		24,240
Change in estimates	2,148		(3,483)
Cash payments	(6,710)		(24,278)
Restructuring Reserve, end of period	$ 42,310		45,224
Carquest consolidations completed to date [Member]
Restructuring Cost and Reserve [Line Items]
Number of Stores	339
Carquest consolidations completed during the current year [Member]
Restructuring Cost and Reserve [Line Items]
Number of Stores	6
Carquest conversions completed to date [Member]
Restructuring Cost and Reserve [Line Items]
Number of Stores	320
Carquest conversions completed this fiscal year [Member]
Restructuring Cost and Reserve [Line Items]
Number of Stores	38
GPI stores remaining to be consolidated [Member]
Restructuring Cost and Reserve [Line Items]
Number of Stores	565
Closed Facility Lease Obligations [Member]
Restructuring Reserve [Roll Forward]
Restructuring Reserve, beginning of period	$ 44,265	42,490	42,490
Reserves established	1,589		23,252
Change in estimates	2,304		(3,073)
Cash payments	(6,410)		(18,404)
Restructuring Reserve, end of period	41,748		44,265
Closed Facility Lease Obligations [Member] | Carquest consolidations completed during the current year [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	1,094	12,185
Severance [Member]
Restructuring Reserve [Roll Forward]
Restructuring Reserve, beginning of period	959	$ 6,255	6,255
Reserves established	59		988
Change in estimates	(156)		(410)
Cash payments	(300)		(5,874)
Restructuring Reserve, end of period	$ 562		$ 959

Intangible Asset Rollforward (D

Intangible Asset Rollforward (Details) - USD ($) $ in Thousands	4 Months Ended
	Apr. 22, 2017	Apr. 23, 2016
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization Expense	$ 14,566	$ 14,942

Receivables, net (Details)

Receivables, net (Details) - USD ($) $ in Thousands	Apr. 22, 2017	Dec. 31, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total receivables	$ 715,470	$ 670,416
Less: Allowance for doubtful accounts	(32,446)	(29,164)
Receivables, net	683,024	641,252
Trade Accounts Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total receivables	446,746	407,301
Accounts Receivable, Vendor [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total receivables	254,875	239,770
Accounts Receivable, Other [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total receivables	$ 13,849	$ 23,345

Long-term Debt and Fair Value30

Long-term Debt and Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Jan. 31, 2017	Apr. 22, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 1,073,892	$ 1,043,255
Long-term Debt, Current Maturities		(520)	(306)
Long-term Debt, Excluding Current Maturities		1,073,372	1,042,949
Letters of Credit Outstanding, Amount		100,719
Line of Credit Facility, Remaining Borrowing Capacity		787,788
Line of Credit Facility, Commitment Fee Percentage	0.15%
Guarantor Obligations, Maximum Exposure		24,426
Guarantor Obligation, Collateral Amount		67,046
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt, Long-term and Short-term, Combined Amount		$ 30,000	0
Line of Credit Facility, Maximum Borrowing Capacity	$ 1,000,000
line of credit facility increase increment limit	$ 250,000
Debt Instrument, Interest Rate, Effective Percentage		4.10%
Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1.10%
Revolving Credit Facility [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.10%
Revolving Credit Facility [Member] | letters of credit sublimit [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 200,000
Senior Notes [Member] | 5.75% senior unsecured notes (2020 Notes) [Member]
Debt Instrument [Line Items]
Debt, Long-term and Short-term, Combined Amount		$ 298,188	298,006
Debt Instrument Unamortized Discount Premium And Debt Issuance Costs, Net		1,812	1,994
Senior Notes [Member] | 4.50% senior unsecured notes (2022 Notes) [Member]
Debt Instrument [Line Items]
Debt, Long-term and Short-term, Combined Amount		298,700	298,616
Debt Instrument Unamortized Discount Premium And Debt Issuance Costs, Net		1,300	1,384
Senior Notes [Member] | 4.50% senior unsecured notes (2023 Notes) [Member]
Debt Instrument [Line Items]
Debt, Long-term and Short-term, Combined Amount		446,484	446,327
Debt Instrument Unamortized Discount Premium And Debt Issuance Costs, Net		3,516	3,673
Notes Payable, Other Payables [Member]
Debt Instrument [Line Items]
Debt, Long-term and Short-term, Combined Amount		520	306
Fair Value, Inputs, Level 2 [Member]
Debt Instrument [Line Items]
Long-term Debt, Fair Value		$ 1,158,000	$ 1,118,000

Earnings per Share (Details)

Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	4 Months Ended
	Apr. 22, 2017	Apr. 23, 2016
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income	$ 107,960	$ 158,813
Basic weighted average shares	73,782	73,401
Dilutive impact of share-based awards	311	446
Diluted weighted average shares	74,093	73,847
Basic earnings per share	$ 1.46	$ 2.16
Diluted earnings per share	$ 1.46	$ 2.14
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	42	22

Share-Based Compensation (Detai

Share-Based Compensation (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	4 Months Ended
	Apr. 22, 2017	Apr. 23, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation	$ 12,374	$ 6,654
Share-based Compensation, Tax Benefit from Compensation Expense	4,662
Share-based Compensation, Cost Not yet Recognized	$ 59,612
Share-based Compensation, Cost Not yet Recognized, Period for Recognition	1 year 9 months 25 days
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in Period	46
Weighted Average Grant Date Fair Value	$ 155.98
Market Based Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in Period	23
Weighted Average Grant Date Fair Value	$ 147.83
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in Period	145
Weighted Average Grant Date Fair Value	$ 157.94

Warranty Liabilities (Details)

Warranty Liabilities (Details) - USD ($) $ in Thousands	4 Months Ended	12 Months Ended
	Apr. 22, 2017	Dec. 31, 2016
Movement in Standard Product Warranty Accrual [Roll Forward]
Warranty reserve, beginning of period	$ 47,243	$ 44,479
Additions to warranty reserves	15,969	46,903
Reserves utilized	(13,106)	(44,139)
Warranty reserve, end of period	$ 50,106	$ 47,243

Condensed Consolidating Balance

Condensed Consolidating Balance Sheet (Details) - USD ($) $ in Thousands	Apr. 22, 2017	Dec. 31, 2016	Apr. 23, 2016	Jan. 02, 2016
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	$ 126,087	$ 135,178	$ 103,708	$ 90,782
Receivables, net	683,024	641,252
Inventories	4,413,803	4,325,868
Other current assets	83,779	70,466
Total current assets	5,306,693	5,172,764
Property and equipment, net of accumulated depreciation	1,439,621	1,446,340
Goodwill	990,695	990,877
Intangible assets, net	626,974	640,903
Other assets, net	64,674	64,149
Investment in subsidiaries	0	0
Intercompany note receivable	0	0
Due from intercompany, net	0	0
Assets, Total	8,428,657	8,315,033
Accounts payable	3,049,218	3,086,177
Accrued expenses	563,276	554,397
Other current liabilities	47,137	35,472
Total current liabilities	3,659,631	3,676,046
Long-term debt	1,073,372	1,042,949
Deferred income taxes	446,128	454,282
Other long-term liabilities	225,851	225,564
Intercompany note payable	0	0
Due to intercompany, net	0	0
Commitments and contingencies
Total stockholders' equity	3,023,675	2,916,192
Liabilities and Stockholders' Equity, Total	8,428,657	8,315,033
Parent Company [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	22	22	8	8
Receivables, net	0	0
Inventories	0	0
Other current assets	179	0
Total current assets	201	22
Property and equipment, net of accumulated depreciation	120	128
Goodwill	0	0
Intangible assets, net	0	0
Other assets, net	4,513	4,634
Investment in subsidiaries	3,121,169	3,008,856
Intercompany note receivable	1,048,508	1,048,424
Due from intercompany, net	0	0
Assets, Total	4,174,511	4,062,064
Accounts payable	35	0
Accrued expenses	2,000	1,505
Other current liabilities	0	0
Total current liabilities	2,035	1,505
Long-term debt	1,043,372	1,042,949
Deferred income taxes	0	0
Other long-term liabilities	0	0
Intercompany note payable	0	0
Due to intercompany, net	105,429	101,418
Commitments and contingencies
Total stockholders' equity	3,023,675	2,916,192
Liabilities and Stockholders' Equity, Total	4,174,511	4,062,064
Guarantor Subsidiaries [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	87,644	78,543	68,563	63,458
Receivables, net	647,480	619,229
Inventories	4,218,338	4,126,465
Other current assets	82,726	69,385
Total current assets	5,036,188	4,893,622
Property and equipment, net of accumulated depreciation	1,430,216	1,436,459
Goodwill	943,359	943,359
Intangible assets, net	582,594	595,596
Other assets, net	64,053	63,376
Investment in subsidiaries	390,370	375,420
Intercompany note receivable	0	0
Due from intercompany, net	0	0
Assets, Total	8,446,780	8,307,832
Accounts payable	2,795,980	2,813,937
Accrued expenses	540,074	526,652
Other current liabilities	42,307	32,508
Total current liabilities	3,378,361	3,373,097
Long-term debt	30,000	0
Deferred income taxes	431,097	439,283
Other long-term liabilities	223,830	223,481
Intercompany note payable	1,048,508	1,048,424
Due to intercompany, net	213,815	214,691
Commitments and contingencies
Total stockholders' equity	3,121,169	3,008,856
Liabilities and Stockholders' Equity, Total	8,446,780	8,307,832
Non-Guarantor Subsidiaries [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	38,443	56,635	35,145	27,324
Receivables, net	35,544	22,023
Inventories	195,465	199,403
Other current assets	1,133	1,153
Total current assets	270,585	279,214
Property and equipment, net of accumulated depreciation	9,285	9,753
Goodwill	47,336	47,518
Intangible assets, net	44,380	45,307
Other assets, net	621	773
Investment in subsidiaries	0	0
Intercompany note receivable	0	0
Due from intercompany, net	319,244	316,109
Assets, Total	691,451	698,674
Accounts payable	253,203	272,240
Accrued expenses	21,461	26,312
Other current liabilities	4,852	2,986
Total current liabilities	279,516	301,538
Long-term debt	0	0
Deferred income taxes	19,544	19,633
Other long-term liabilities	2,021	2,083
Intercompany note payable	0	0
Due to intercompany, net	0	0
Commitments and contingencies
Total stockholders' equity	390,370	375,420
Liabilities and Stockholders' Equity, Total	691,451	698,674
Consolidation, Eliminations [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	(22)	(22)	$ (8)	$ (8)
Receivables, net	0	0
Inventories	0	0
Other current assets	(259)	(72)
Total current assets	(281)	(94)
Property and equipment, net of accumulated depreciation	0	0
Goodwill	0	0
Intangible assets, net	0	0
Other assets, net	(4,513)	(4,634)
Investment in subsidiaries	(3,511,539)	(3,384,276)
Intercompany note receivable	(1,048,508)	(1,048,424)
Due from intercompany, net	(319,244)	(316,109)
Assets, Total	(4,884,085)	(4,753,537)
Accounts payable	0	0
Accrued expenses	(259)	(72)
Other current liabilities	(22)	(22)
Total current liabilities	(281)	(94)
Long-term debt	0	0
Deferred income taxes	(4,513)	(4,634)
Other long-term liabilities	0	0
Intercompany note payable	(1,048,508)	(1,048,424)
Due to intercompany, net	(319,244)	(316,109)
Commitments and contingencies
Total stockholders' equity	(3,511,539)	(3,384,276)
Liabilities and Stockholders' Equity, Total	$ (4,884,085)	$ (4,753,537)

Condensed Consolidated Income S

Condensed Consolidated Income Statement (Details) - USD ($) $ in Thousands	4 Months Ended
	Apr. 22, 2017	Apr. 23, 2016
Condensed Income Statements, Captions [Line Items]
Net sales	$ 2,890,838	$ 2,979,778
Cost of sales, including purchasing and warehousing costs	1,620,154	1,629,889
Gross profit	1,270,684	1,349,889
Selling, general and administrative expenses	1,090,904	1,078,890
Operating income (loss)	179,780	270,999
Interest (expense) income	(18,430)	(18,943)
Other income (expense), net	4,813	3,123
Total other, net	(13,617)	(15,820)
Income before provision for income taxes	166,163	255,179
Provision for income taxes	58,203	96,366
Income (loss) before equity in earnings of subsidiaries	107,960	158,813
Equity in earnings of subsidiaries	0	0
Net income	107,960	158,813
Parent Company [Member]
Condensed Income Statements, Captions [Line Items]
Net sales	0	0
Cost of sales, including purchasing and warehousing costs	0	0
Gross profit	0	0
Selling, general and administrative expenses	14,797	7,911
Operating income (loss)	(14,797)	(7,911)
Interest (expense) income	(16,290)	(16,143)
Other income (expense), net	31,784	23,542
Total other, net	15,494	7,399
Income before provision for income taxes	697	(512)
Provision for income taxes	(1,743)	(1,430)
Income (loss) before equity in earnings of subsidiaries	2,440	918
Equity in earnings of subsidiaries	105,520	157,895
Net income	107,960	158,813
Guarantor Subsidiaries [Member]
Condensed Income Statements, Captions [Line Items]
Net sales	2,801,854	2,892,386
Cost of sales, including purchasing and warehousing costs	1,577,273	1,598,817
Gross profit	1,224,581	1,293,569
Selling, general and administrative expenses	1,067,656	1,060,767
Operating income (loss)	156,925	232,802
Interest (expense) income	(2,159)	(2,823)
Other income (expense), net	(7,352)	(6,276)
Total other, net	(9,511)	(9,099)
Income before provision for income taxes	147,414	223,703
Provision for income taxes	57,446	91,275
Income (loss) before equity in earnings of subsidiaries	89,968	132,428
Equity in earnings of subsidiaries	15,552	25,467
Net income	105,520	157,895
Non-Guarantor Subsidiaries [Member]
Condensed Income Statements, Captions [Line Items]
Net sales	172,004	188,975
Cost of sales, including purchasing and warehousing costs	125,901	132,655
Gross profit	46,103	56,320
Selling, general and administrative expenses	24,402	28,358
Operating income (loss)	21,701	27,962
Interest (expense) income	19	23
Other income (expense), net	(3,668)	4,003
Total other, net	(3,649)	4,026
Income before provision for income taxes	18,052	31,988
Provision for income taxes	2,500	6,521
Income (loss) before equity in earnings of subsidiaries	15,552	25,467
Equity in earnings of subsidiaries	0	0
Net income	15,552	25,467
Consolidation, Eliminations [Member]
Condensed Income Statements, Captions [Line Items]
Net sales	(83,020)	(101,583)
Cost of sales, including purchasing and warehousing costs	(83,020)	(101,583)
Gross profit	0	0
Selling, general and administrative expenses	(15,951)	(18,146)
Operating income (loss)	15,951	18,146
Interest (expense) income	0	0
Other income (expense), net	(15,951)	(18,146)
Total other, net	(15,951)	(18,146)
Income before provision for income taxes	0	0
Provision for income taxes	0	0
Income (loss) before equity in earnings of subsidiaries	0	0
Equity in earnings of subsidiaries	(121,072)	(183,362)
Net income	$ (121,072)	$ (183,362)

Condensed Consolidated Comprehe

Condensed Consolidated Comprehensive Income Statement (Details) - USD ($) $ in Thousands	4 Months Ended
	Apr. 22, 2017	Apr. 23, 2016
Condensed Consolidating Comprehensive Income Statement [Line Items]
Net income	$ 107,960	$ 158,813
Changes in net unrecognized other postretirement benefit costs, net of tax	(85)	(182)
Currency translation adjustments	(788)	16,425
Total other comprehensive income (loss)	(873)	16,243
Comprehensive income	107,087	175,056
Parent Company [Member]
Condensed Consolidating Comprehensive Income Statement [Line Items]
Net income	107,960	158,813
Total other comprehensive income (loss)	(873)	16,243
Comprehensive income	107,087	175,056
Guarantor Subsidiaries [Member]
Condensed Consolidating Comprehensive Income Statement [Line Items]
Net income	105,520	157,895
Total other comprehensive income (loss)	(873)	16,243
Comprehensive income	104,647	174,138
Non-Guarantor Subsidiaries [Member]
Condensed Consolidating Comprehensive Income Statement [Line Items]
Net income	15,552	25,467
Total other comprehensive income (loss)	(788)	16,425
Comprehensive income	14,764	41,892
Consolidation, Eliminations [Member]
Condensed Consolidating Comprehensive Income Statement [Line Items]
Net income	(121,072)	(183,362)
Total other comprehensive income (loss)	1,661	(32,668)
Comprehensive income	$ (119,411)	$ (216,030)

Condensed Consolidating Stateme

Condensed Consolidating Statement of Cash Flows (Details) - USD ($) $ in Thousands	4 Months Ended
	Apr. 22, 2017	Apr. 23, 2016
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	$ 35,081	$ 88,446
Purchases of property and equipment	(65,279)	(89,138)
Proceeds from sales of property and equipment	947	1,227
Other, net	193	0
Net cash used in investing activities	(64,139)	(87,911)
Increase in bank overdrafts	8,490	14,644
Borrowings under credit facilities	483,500	357,500
Payments on credit facilities	(453,500)	(331,500)
Dividends paid	(8,902)	(8,850)
Proceeds from the issuance of common stock	1,036	1,085
Tax withholdings related to the exercise of stock appreciation rights	(5,707)	(11,134)
Repurchase of common stock	(3,121)	(11,813)
Other	(1,924)	(125)
Net cash (used in) provided by financing activities	19,872	9,807
Effect of exchange rate changes on cash	95	2,584
Net increase (decrease) in cash and cash equivalents	(9,091)	12,926
Cash and cash equivalents, beginning of period	135,178	90,782
Cash and cash equivalents, end of period	126,087	103,708
Parent Company [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	0	0
Purchases of property and equipment	0	0
Proceeds from sales of property and equipment	0	0
Other, net	0
Net cash used in investing activities	0	0
Increase in bank overdrafts	0	0
Borrowings under credit facilities	0	0
Payments on credit facilities	0	0
Dividends paid	0	0
Proceeds from the issuance of common stock	0	0
Tax withholdings related to the exercise of stock appreciation rights	0	0
Repurchase of common stock	0	0
Other	0	0
Net cash (used in) provided by financing activities	0	0
Effect of exchange rate changes on cash	0	0
Net increase (decrease) in cash and cash equivalents	0	0
Cash and cash equivalents, beginning of period	22	8
Cash and cash equivalents, end of period	22	8
Guarantor Subsidiaries [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	55,378	89,349
Purchases of property and equipment	(64,978)	(88,303)
Proceeds from sales of property and equipment	947	1,226
Other, net	(253)
Net cash used in investing activities	(64,284)	(87,077)
Increase in bank overdrafts	6,625	7,670
Borrowings under credit facilities	483,500	357,500
Payments on credit facilities	(453,500)	(331,500)
Dividends paid	(8,902)	(8,850)
Proceeds from the issuance of common stock	1,036	1,085
Tax withholdings related to the exercise of stock appreciation rights	(5,707)	(11,134)
Repurchase of common stock	(3,121)	(11,813)
Other	(1,924)	(125)
Net cash (used in) provided by financing activities	18,007	2,833
Effect of exchange rate changes on cash	0	0
Net increase (decrease) in cash and cash equivalents	9,101	5,105
Cash and cash equivalents, beginning of period	78,543	63,458
Cash and cash equivalents, end of period	87,644	68,563
Non-Guarantor Subsidiaries [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	(20,297)	(903)
Purchases of property and equipment	(301)	(835)
Proceeds from sales of property and equipment	0	1
Other, net	446
Net cash used in investing activities	145	(834)
Increase in bank overdrafts	1,865	6,974
Borrowings under credit facilities	0	0
Payments on credit facilities	0	0
Dividends paid	0	0
Proceeds from the issuance of common stock	0	0
Tax withholdings related to the exercise of stock appreciation rights	0	0
Repurchase of common stock	0	0
Other	0	0
Net cash (used in) provided by financing activities	1,865	6,974
Effect of exchange rate changes on cash	95	2,584
Net increase (decrease) in cash and cash equivalents	(18,192)	7,821
Cash and cash equivalents, beginning of period	56,635	27,324
Cash and cash equivalents, end of period	38,443	35,145
Consolidation, Eliminations [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	0	0
Purchases of property and equipment	0	0
Proceeds from sales of property and equipment	0	0
Other, net	0
Net cash used in investing activities	0	0
Increase in bank overdrafts	0	0
Borrowings under credit facilities	0	0
Payments on credit facilities	0	0
Dividends paid	0	0
Proceeds from the issuance of common stock	0	0
Tax withholdings related to the exercise of stock appreciation rights	0	0
Repurchase of common stock	0	0
Other	0	0
Net cash (used in) provided by financing activities	0	0
Effect of exchange rate changes on cash	0	0
Net increase (decrease) in cash and cash equivalents	0	0
Cash and cash equivalents, beginning of period	(22)	(8)
Cash and cash equivalents, end of period	$ (22)	$ (8)