Advance Auto Parts (AAP) 10-Q 22 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document Document - shares	4 Months Ended
	Apr. 21, 2018	May 18, 2018
Document Information [Line Items]
Entity Registrant Name	Advance Auto Parts Inc
Entity Central Index Key	1,158,449
Current Fiscal Year End Date	--12-29
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Apr. 21, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		74,031,311

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Apr. 21, 2018	Dec. 30, 2017
Current assets:
Cash and cash equivalents	$ 639,143	$ 546,937
Receivables, net	620,378	606,357
Inventories	4,230,473	4,168,492
Other current assets	127,522	105,106
Total current assets	5,617,516	5,426,892
Property and equipment, net of accumulated depreciation of $1,836,151 and $1,783,383	1,358,397	1,394,138
Goodwill	993,461	994,293
Intangible assets, net	583,346	597,674
Other assets	62,233	69,304
Assets, Total	8,614,953	8,482,301
Current liabilities:
Accounts payable	2,890,317	2,894,582
Accrued expenses	543,343	533,548
Other current liabilities	46,479	51,967
Total current liabilities	3,480,139	3,480,097
Long-term debt	1,044,755	1,044,327
Deferred income taxes	310,686	303,620
Other long-term liabilities	232,752	239,061
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	672,913	664,646
Treasury stock, at cost	(149,824)	(144,600)
Accumulated other comprehensive loss	(28,812)	(24,954)
Retained earnings	3,052,336	2,920,096
Total stockholders’ equity	3,546,621	3,415,196
Liabilities and Stockholders' Equity, Total	$ 8,614,953	$ 8,482,301

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Apr. 21, 2018	Dec. 30, 2017
Statement of Financial Position [Abstract]
Accumulated Depreciation, Property and Equipment	$ 1,836,151	$ 1,783,383
Preferred Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Common Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	4 Months Ended
	Apr. 21, 2018	Apr. 22, 2017
Net sales	$ 2,873,848	$ 2,890,838
Cost of sales, including purchasing and warehousing costs	1,601,564	1,620,154
Gross profit	1,272,284	1,270,684
Selling, general and administrative expenses	1,074,043	1,090,904
Operating income	198,241	179,780
Other, net:
Interest expense	(17,682)	(18,430)
Other income, net	458	4,813
Total other, net	(17,224)	(13,617)
Income before provision for income taxes	181,017	166,163
Provision for income taxes	44,290	58,203
Net income	$ 136,727	$ 107,960
Basic earnings per common share	$ 1.85	$ 1.46
Weighted average common shares outstanding	73,979	73,782
Diluted earnings per common share	$ 1.84	$ 1.46
Weighted average common shares outstanding	74,205	74,093
Dividends declared per common share	$ 0.06	$ 0.06

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	4 Months Ended
	Apr. 21, 2018	Apr. 22, 2017
Condensed Consolidated Statements of Comprehensive Income [Abstract]
Net income	$ 136,727	$ 107,960
Other comprehensive income (loss):
Changes in net unrecognized other postretirement benefit costs, net of tax of $32 and $55	(91)	(85)
Currency translation adjustments	(3,767)	(788)
Total other comprehensive loss	(3,858)	(873)
Comprehensive income	$ 132,869	$ 107,087

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	4 Months Ended
	Apr. 21, 2018	Apr. 22, 2017
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) [Abstract]
Changes in net unrecognized postretirement benefit costs, Tax	$ 32	$ 55

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	4 Months Ended
	Apr. 21, 2018	Apr. 22, 2017
Cash flows from operating activities:
Net income	$ 136,727	$ 107,960
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	71,692	77,430
Share-based compensation	7,642	12,374
Loss on disposal and impairment of property and equipment	3,208	275
Provision (benefit) for deferred income taxes	7,340	(7,704)
Other	672	1,699
Net change in:
Receivables, net	(14,012)	(42,207)
Inventories	(64,369)	(89,384)
Accounts payable	(2,948)	(36,710)
Accrued expenses	20,765	20,293
Other assets and liabilities, net	(12,747)	(8,945)
Net cash provided by operating activities	153,970	35,081
Cash flows from investing activities:
Purchases of property and equipment	(34,474)	(65,279)
Proceeds from sales of property and equipment	530	947
Other, net	0	193
Net cash used in investing activities	(33,944)	(64,139)
Cash flows from financing activities:
(Decrease) increase in bank overdrafts	(12,101)	8,490
Borrowings under credit facilities	0	483,500
Payments on credit facilities	0	(453,500)
Dividends paid	(8,930)	(8,902)
Proceeds from the issuance of common stock	754	1,036
Tax withholdings related to the exercise of stock appreciation rights	(93)	(5,707)
Repurchase of common stock	(5,223)	(3,121)
Other, net	(1,164)	(1,924)
Net cash (used in) provided by financing activities	(26,757)	19,872
Effect of exchange rate changes on cash	(1,063)	95
Net increase (decrease) in cash and cash equivalents	92,206	(9,091)
Cash and cash equivalents, beginning of period	546,937	135,178
Cash and cash equivalents, end of period	639,143	126,087
Non-cash transactions:
Accrued purchases of property and equipment	$ 8,591	$ 14,524

Nature of Operations and Basis

Nature of Operations and Basis of Presentation	4 Months Ended
	Apr. 21, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Basis of Presentation	Nature of Operations and 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 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 21, 2018 , we operated a total of 5,044 stores and 131 distribution branches primarily within the United States, with additional locations in Canada, Puerto Rico and the U.S. Virgin Islands. In addition, as of April 21, 2018 , we served 1,225 independently owned Carquest branded stores (“independent stores”) across the same geographic locations served by our 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. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”), have been condensed or omitted based upon the Securities and Exchange Commission (“SEC”) interim reporting guidance. These condensed consolidated financial statements should be read in conjunction with the financial statements and notes thereto included in our Annual Report on Form 10-K for 2017 as filed with the SEC on February 21, 2018 . The results of operations for the interim periods are not necessarily indicative of the operating results to be expected for the full year. Our first quarter of the year contains sixteen weeks. Our remaining three quarters consist of twelve weeks.

Significant Accounting Policies

Significant Accounting Policies	4 Months Ended
	Apr. 21, 2018
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	Significant Accounting Policies: Revenues Revenue for periods through December 30, 2017 was reported under Accounting Standards Codification (“ASC”) 605, Revenue Recognition, as described in our accounting policies in our 2017 Form 10-K. Effective December 31, 2017, the Company adopted ASC 606, Revenue From Contracts With Customers (“Topic 606”). The results of applying Topic 606 using the modified retrospective approach were insignificant and did not have a material impact on our consolidated financial condition, results of operations, cash flows, business process, controls or systems. We expect the impact of the adoption of the new standard to be immaterial to our net income on an ongoing basis. In accordance with Topic 606 revenue is recognized at the time the sale is made, at which time our walk-in customers take immediate possession of the merchandise or same-day delivery is made to our Professional delivery customers, which include certain independently-owned store locations. Payment terms are established for our Professional delivery customers based on the Company’s pre-established credit requirements. Payment terms vary depending on the customer and generally range from 1 to 30 days. Based on the nature of receivables no significant financing components exist. For e-commerce sales, revenue is recognized either at the time of pick-up at one of our store locations or at the time of shipment depending on the customer's order designation. Sales are recorded net of discounts, sales incentives and rebates, sales taxes and estimated returns and allowances. We estimate the reduction to sales and cost of sales for returns based on current sales levels and our historical return experience. We provide assurance type warranty coverage primarily on batteries, brakes and shocks whereby we are required to provide replacement product at no cost or a reduced cost. Topic 606 defines a performance obligation as a promise in a contract to transfer a distinct good or service to the customer and is considered the unit of account. The majority of our contracts have one single performance obligation as the promise to transfer the individual goods is not separately identifiable from other promises in the contracts and is, therefore, not distinct. Discounts and incentives are treated as separate performance obligations. We allocate the contract’s transaction price to each of these performance obligations separately using explicitly stated amounts or our best estimate using historical data. Additionally, we estimate and record gift card breakage as redemptions occur. We had no material contract assets, contract liabilities or costs to obtain and fulfill contracts recorded on the Condensed Consolidated Balance Sheet as of April 21, 2018 . For the sixteen weeks ended April 21, 2018 , revenue recognized from performance obligations related to prior periods (for example, due to changes in transaction price), was insignificant. Revenue expected to be recognized in any future periods related to remaining performance obligations is insignificant. The following table summarizes disaggregated revenue from contracts with customers by product group: Sixteen Weeks Ended April 21, 2018 April 22, 2017 Percentage of Sales, by Product Group Parts and Batteries 65 % 66 % Accessories and Chemicals 20 19 Engine Maintenance 14 14 Other 1 1 Total 100 % 100 % Recently Issued Accounting Pronouncements In February 2016, the FASB issued Accounting Standards Update (“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 most leases, including those leases previously classified as operating leases under current GAAP. Topic 842 retains a distinction between finance leases and operating leases. The classification criteria for distinguishing between finance leases and operating leases are substantially similar to the classification criteria for distinguishing between capital leases and operating leases in the previous leases guidance. The ASU is effective for annual periods beginning after December 15, 2018, including interim periods within those years; earlier adoption is permitted. The FASB issued and approved an exposure draft to amend Topic 842 to provide entities with an additional transition method with which to adopt Topic 842. The approved transition method enables entities to apply the transition requirements in Topic 842 at the effective date of that Topic (rather than at the beginning of the earliest comparative period presented as currently required) with the effects of initially applying Topic 842 recognized as a cumulative-effect adjustment to retained earnings in the period of adoption. Consequently, an entity’s reporting for the comparative periods presented in the year of adoption would continue to be in accordance with Topic 840, including the disclosure requirements of that Topic. Practical expedients are available for election as a package and if applied consistently to all leases. We have selected our leasing software solution and are in the process of identifying changes to our business processes, systems and controls to support adoption of the new standard in 2019. We are evaluating the impact that the new standard will have on the condensed consolidated financial statements. While we are unable to quantify the impact at this time, we expect the adoption of the new standard to result in a material increase in the assets and liabilities in the condensed consolidated financial statements. At this time, we do not expect adoption of ASU 2016-02 to have a material impact on our condensed consolidated statements of operations as the majority of our leases will remain operating in nature. As such, the expense recognition will be similar to previously required straight-line expense treatment. In March 2018, the FASB issued ASU No. 2018-05, “Income Taxes (Topic 740) - Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118”, ("ASU 2018-05"). ASU 2018-05 provides guidance on accounting for the tax effects of the U.S. Tax Cuts and Jobs Act (the “Act”) pursuant to the Staff Accounting Bulletin No. 118, which allows companies to complete the accounting under ASC 740 within a one-year measurement period from the Tax Act enactment date, which occurred in the financial statements for the year ended December 30, 2017. Until the completion of our 2017 U.S. income tax return in the third quarter of 2018, we may identify additional remeasurement adjustments to amounts previously recorded for the nonrecurring repatriation tax on accumulated earnings of foreign subsidiaries and remeasurement of the net deferred tax liability. We will continue to assess our provision for income taxes as future guidance is issued.

Inventories

Inventories	4 Months Ended
	Apr. 21, 2018
Inventory, Net [Abstract]
Inventories	Inventories Inventories are stated at the lower of cost or market. We used the last in, first out (“LIFO”) method of accounting for approximately 88% of inventories at April 21, 2018 and December 30, 2017 . Under the LIFO method, our cost of sales reflects the costs of the most recently purchased inventories, while the inventory carrying balance represents the costs for inventories purchased in the sixteen weeks ended April 21, 2018 and prior years. We recorded a reduction to cost of sales of $20.0 million and $18.0 million for the sixteen weeks ended April 21, 2018 and April 22, 2017 to state inventories at LIFO. An actual valuation of inventory under the LIFO method is performed by us at the end of each fiscal year based on the inventory levels and costs at that time. Accordingly, interim LIFO calculations are based on our estimates of expected year-end inventory levels and costs. Inventory balances were as follows: (in thousands) April 21, 2018 December 30, 2017 Inventories at first in, first out (“FIFO”) $ 4,007,327 $ 3,965,370 Adjustments to state inventories at LIFO 223,146 203,122 Inventories at LIFO $ 4,230,473 $ 4,168,492

Exit Activities and Other Initi

Exit Activities and Other Initiatives	4 Months Ended
	Apr. 21, 2018
Restructuring and Related Activities [Abstract]
Exit Activities	Exit Activities and Other Initiatives Integration of Carquest stores We are in the process of a multi-year integration, which includes the consolidation and conversion of our Carquest stores acquired with General Parts International, Inc. (“GPI”) in 2014. As of April 21, 2018 , 348 Carquest stores acquired with GPI had been consolidated into existing Advance Auto Parts stores and 423 stores had been converted to the Advance Auto Parts format. During the sixteen weeks ended April 21, 2018 , a total of 2 Carquest stores were consolidated and 1 Carquest store was converted. As of April 21, 2018 , the Company had 427 stores still operating under the Carquest name. We incurred $0.4 million and $1.1 million of exit costs related to the consolidations and conversions during the sixteen weeks ended April 21, 2018 and April 22, 2017 , primarily related to closed store lease obligations. These costs are included in Selling, general and administrative expenses (“SG&A”) in the accompanying condensed consolidated statements of operations. Store and Supply Chain Rationalization During the fourth quarter of 2017, the Board of Directors approved a plan to close certain underperforming stores and begin to rationalize our supply chain costs as part of our strategy to transform the enterprise. As of April 21, 2018 , we expect these actions to result in estimated charges of up to $70 million in 2018, which consist of $35 million relating to the early termination of lease obligations, $15 million of inventory and supply chain asset impairment charges, $15 million of other facility closure costs and $5 million of severance. During the first quarter of 2018, we incurred $1.1 million of early termination of lease obligations charges, $1.5 million of supply chain asset impairment charges, $0.3 million of facility closure costs and $0.3 million of severance relating to the store and supply chain rationalization. These costs are included in SG&A in the accompanying condensed consolidated statements of operations. Total Exit Liabilities Our total exit liabilities include liabilities recorded in connection with the consolidation of Carquest stores and restructuring activities described above, along with liabilities associated with facility 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 and the remaining severance payments are expected to be made in 2018. Of our total exit liabilities as of April 21, 2018 , $18.6 million is included in Other long-term liabilities and the remainder is included in Accrued expenses in the accompanying condensed consolidated balance sheet. A summary of our exit liabilities is presented in the following table: (in thousands) Closed Facility Lease Obligations Severance Total Balance, December 30, 2017 $ 31,570 $ 1,645 $ 33,215 Reserves established 1,566 1,882 3,448 Change in estimates 1,028 (381 ) 647 Cash payments (5,046 ) (1,111 ) (6,157 ) Balance, April 21, 2018 $ 29,118 $ 2,035 $ 31,153 Balance, December 31, 2016 $ 44,265 $ 959 $ 45,224 Reserves established 7,940 7,927 15,867 Change in estimates (1,116 ) (699 ) (1,815 ) Cash payments (19,519 ) (6,542 ) (26,061 ) Balance, December 30, 2017 $ 31,570 $ 1,645 $ 33,215

Intangible Assets

Intangible Assets	4 Months Ended
	Apr. 21, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible Assets Our definite-lived intangible assets include customer relationships, favorable leases and non-compete agreements. Amortization expense was $13.4 million and $14.6 million for the sixteen weeks ended April 21, 2018 and April 22, 2017 .

Receivables, net

Receivables, net	4 Months Ended
	Apr. 21, 2018
Receivables [Abstract]
Receivables, net	Receivables, net Receivables consist of the following: (in thousands) April 21, 2018 December 30, 2017 Trade $ 431,093 $ 389,963 Vendor 192,152 220,510 Other 16,489 14,103 Total receivables 639,734 624,576 Less: Allowance for doubtful accounts (19,356 ) (18,219 ) Receivables, net $ 620,378 $ 606,357

Long-term Debt and Fair Value o

Long-term Debt and Fair Value of Financial Instruments	4 Months Ended
	Apr. 21, 2018
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: (in thousands) April 21, 2018 December 30, 2017 Total long-term debt $ 1,044,930 $ 1,044,677 Less: Current portion of long-term debt (175 ) (350 ) Long-term debt, excluding current portion $ 1,044,755 $ 1,044,327 Fair value of long-term debt $ 1,083,048 $ 1,109,000 Fair Value of Financial Assets and Liabilities The fair value of our senior unsecured notes was determined using Level 2 inputs based on quoted market prices. We believe the carrying value of our other long-term debt approximates fair value. The carrying amounts of our 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, 2018, we entered into Amendment No. 1 to the Credit Agreement dated as of January 31, 2017 (the “Amendment”), among Advance Stores, as Borrower, the lenders party thereto, and Bank of America, N.A., Administrative Agent. The Amendment: (i) provided for LIBOR replacement rates in the event that LIBOR is unavailable in the future; (ii) modified the definitions of the financial covenants (and the testing level relating thereto) with respect to a maximum leverage ratio and a minimum coverage ratio that the Company is required to comply with; and (iii) extended the termination date of the 2017 Credit Agreement from January 31, 2022 until January 31, 2023. We have the option to make one additional written request of the lenders to extend the termination date then in effect for one additional year. As of April 21, 2018 , we had no outstanding borrowings under the revolver and borrowing availability was $888.3 million based on our leverage ratio. As of April 21, 2018 , we had letters of credit outstanding of $111.7 million , which generally have a term of one year or less and primarily serve as collateral for our self-insurance policies. We were in compliance with all financial covenants required by our debt arrangements as of April 21, 2018 . Debt Guarantees We are a guarantor of loans made by banks to various independently owned Carquest-branded stores that are our customers totaling $26.3 million as of April 21, 2018 . 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 $65.8 million as of April 21, 2018 . We believe that the likelihood of performance under these guarantees is remote.

Warranty Liabilities

Warranty Liabilities	4 Months Ended
	Apr. 21, 2018
Product Warranties Disclosures [Abstract]
Warranty Liabilities	Warranty Liabilities The following table presents changes in our warranty reserves: Sixteen Weeks Ended Fifty-Two Weeks Ended (in thousands) April 21, 2018 December 30, 2017 Warranty reserve, beginning of period $ 49,024 $ 47,243 Additions to warranty reserves 10,251 50,895 Reserves utilized (13,259 ) (49,114 ) Warranty reserve, end of period $ 46,016 $ 49,024

Earnings per Share

Earnings per Share	4 Months Ended
	Apr. 21, 2018
Earnings Per Share [Abstract]
Earnings Per Share	Earnings per Share The computation of basic and diluted earnings per share are as follows: Sixteen Weeks Ended (in thousands, except per share data) April 21, 2018 April 22, 2017 Numerator Net income applicable to common shares $ 136,727 $ 107,960 Denominator Basic weighted average common shares 73,979 73,782 Dilutive impact of share-based awards 226 311 Diluted weighted average common shares 74,205 74,093 Basic earnings per common share $ 1.85 $ 1.46 Diluted earnings per common share $ 1.84 $ 1.46

Share-Based Compensation

Share-Based Compensation	4 Months Ended
	Apr. 21, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Compensation	Share-Based Compensation During the sixteen weeks ended April 21, 2018 , we granted 147 thousand time-based restricted stock units (“RSUs”), 69 thousand performance-based RSUs and 36 thousand market-based RSUs. The general terms of the time-based, performance-based and market-based RSUs are similar to awards previously granted by us. The weighted average fair values of the time-based, performance-based and market-based RSUs granted during the sixteen weeks ended April 21, 2018 were $117.49 , $116.82 and $130.88 per share. For time-based and performance-based RSUs, the fair value of each award was determined based on the market price of our 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 income tax benefit related to share-based compensation expense for the sixteen weeks ended April 21, 2018 was $1.8 million . As of April 21, 2018 , there was $53.9 million of unrecognized compensation expense related to all share-based awards that is expected to be recognized over a weighted average period of 1.9 years .

Condensed Consolidating Financi

Condensed Consolidating Financial Statements	4 Months Ended
	Apr. 21, 2018
Condensed Consolidating Financial Statements [Abstract]
Condensed Consolidating Financial Statements	Condensed Consolidating Financial Statements Certain 100% wholly owned domestic subsidiaries of Advance, including our Material Subsidiaries (as defined in the 2017 Credit Agreement) serve as guarantors (“Guarantor Subsidiaries”) of our senior unsecured notes. The subsidiary guarantees related to our 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 our wholly owned subsidiaries, including all of its foreign subsidiaries, do not serve as guarantors of our senior unsecured notes (“Non-Guarantor Subsidiaries”). 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. Investments in subsidiaries of Advance are presented under the equity method. 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 Sheet As of April 21, 2018 (in thousands) Advance Auto Parts, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ 23 $ 566,915 $ 72,228 $ (23 ) $ 639,143 Receivables, net — 581,914 38,464 — 620,378 Inventories — 4,054,181 176,292 — 4,230,473 Other current assets — 124,909 2,715 (102 ) 127,522 Total current assets 23 5,327,919 289,699 (125 ) 5,617,516 Property and equipment, net of accumulated depreciation 95 1,348,844 9,458 — 1,358,397 Goodwill — 943,359 50,102 — 993,461 Intangible assets, net — 538,939 44,407 — 583,346 Other assets, net 3,177 61,744 489 (3,177 ) 62,233 Investment in subsidiaries 3,661,050 457,062 — (4,118,112 ) — Intercompany note receivable 1,048,789 — — (1,048,789 ) — Due from intercompany, net — — 305,689 (305,689 ) — $ 4,713,134 $ 8,677,867 $ 699,844 $ (5,475,892 ) $ 8,614,953 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ — $ 2,680,822 $ 209,495 $ — $ 2,890,317 Accrued expenses 1,746 526,215 15,484 (102 ) 543,343 Other current liabilities — 47,722 (1,220 ) (23 ) 46,479 Total current liabilities 1,746 3,254,759 223,759 (125 ) 3,480,139 Long-term debt 1,044,755 — — — 1,044,755 Deferred income taxes — 296,295 17,568 (3,177 ) 310,686 Other long-term liabilities — 231,297 1,455 — 232,752 Intercompany note payable — 1,048,789 — (1,048,789 ) — Due to intercompany, net 120,012 185,677 — (305,689 ) — Commitments and contingencies Stockholders' equity 3,546,621 3,661,050 457,062 (4,118,112 ) 3,546,621 $ 4,713,134 $ 8,677,867 $ 699,844 $ (5,475,892 ) $ 8,614,953 Condensed Consolidating Balance Sheet As of December 30, 2017 (in thousands) Advance Auto Parts, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ 23 $ 482,620 $ 64,317 $ (23 ) $ 546,937 Receivables, net — 567,460 38,897 — 606,357 Inventories — 3,986,724 181,768 — 4,168,492 Other current assets — 103,118 2,063 (75 ) 105,106 Total current assets 23 5,139,922 287,045 (98 ) 5,426,892 Property and equipment, net of accumulated depreciation 103 1,384,115 9,920 — 1,394,138 Goodwill — 943,359 50,934 — 994,293 Intangible assets, net — 551,781 45,893 — 597,674 Other assets, net 3,224 68,749 554 (3,223 ) 69,304 Investment in subsidiaries 3,521,330 448,462 — (3,969,792 ) — Intercompany note receivable 1,048,700 — — (1,048,700 ) — Due from intercompany, net — — 332,467 (332,467 ) — $ 4,573,380 $ 8,536,388 $ 726,813 $ (5,354,280 ) $ 8,482,301 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ — $ 2,657,792 $ 236,790 $ — $ 2,894,582 Accrued expenses 1,134 511,841 20,648 (75 ) 533,548 Other current liabilities — 50,963 1,027 (23 ) 51,967 Total current liabilities 1,134 3,220,596 258,465 (98 ) 3,480,097 Long-term debt 1,044,327 — — — 1,044,327 Deferred income taxes — 288,999 17,844 (3,223 ) 303,620 Other long-term liabilities — 237,019 2,042 — 239,061 Intercompany note payable — 1,048,700 — (1,048,700 ) — Due to intercompany, net 112,723 219,744 — (332,467 ) — Commitments and contingencies Stockholders' equity 3,415,196 3,521,330 448,462 (3,969,792 ) 3,415,196 $ 4,573,380 $ 8,536,388 $ 726,813 $ (5,354,280 ) $ 8,482,301 Condensed Consolidating Statement of Operations For the Sixteen Weeks Ended April 21, 2018 (in thousands) Advance Auto Parts, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net sales $ — $ 2,775,903 $ 152,119 $ (54,174 ) $ 2,873,848 Cost of sales, including purchasing and warehousing costs — 1,551,041 104,697 (54,174 ) 1,601,564 Gross profit — 1,224,862 47,422 — 1,272,284 Selling, general and administrative expenses 4,811 1,054,389 30,582 (15,739 ) 1,074,043 Operating (loss) income (4,811 ) 170,473 16,840 15,739 198,241 Other, net: Interest expense (16,078 ) (1,604 ) — — (17,682 ) Other income (expense), net 21,257 (2,993 ) (2,067 ) (15,739 ) 458 Total other, net 5,179 (4,597 ) (2,067 ) (15,739 ) (17,224 ) Income before provision for income taxes 368 165,876 14,773 — 181,017 Provision for income taxes 1,263 40,452 2,575 — 44,290 (Loss) income before equity in earnings of subsidiaries (895 ) 125,424 12,198 — 136,727 Equity in earnings of subsidiaries 137,622 12,198 — (149,820 ) — Net income $ 136,727 $ 137,622 $ 12,198 $ (149,820 ) $ 136,727 Condensed Consolidating Statement of Operations For the Sixteen Weeks Ended April 22, 2017 (in thousands) 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 Statement of Comprehensive Income For the Sixteen Weeks Ended April 21, 2018 (in thousands) Advance Auto Parts, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net income $ 136,727 $ 137,622 $ 12,198 $ (149,820 ) $ 136,727 Other comprehensive loss (3,858 ) (3,858 ) (3,767 ) 7,625 (3,858 ) Comprehensive income $ 132,869 $ 133,764 $ 8,431 $ (142,195 ) $ 132,869 Condensed Consolidating Statement of Comprehensive Income For the Sixteen Weeks Ended April 22, 2017 (in thousands) 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 Statement of Cash Flows For the Sixteen Weeks Ended April 21, 2018 (in thousands) Advance Auto Parts, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net cash provided by (used in) operating activities $ — $ 142,408 $ 11,562 $ — $ 153,970 Cash flows from investing activities: Purchases of property and equipment — (34,153 ) (321 ) — (34,474 ) Proceeds from sales of property and equipment — 486 44 — 530 Net cash used in investing activities — (33,667 ) (277 ) — (33,944 ) Cash flows from financing activities: Decrease in bank overdrafts — (9,790 ) (2,311 ) — (12,101 ) Dividends paid — (8,930 ) — — (8,930 ) Proceeds from the issuance of common stock — 754 — — 754 Tax withholdings related to the exercise of stock appreciation rights — (93 ) — — (93 ) Repurchase of common stock — (5,223 ) — — (5,223 ) Other, net — (1,164 ) — — (1,164 ) Net cash used in financing activities — (24,446 ) (2,311 ) — (26,757 ) Effect of exchange rate changes on cash — — (1,063 ) — (1,063 ) Net increase in cash and cash equivalents — 84,295 7,911 — 92,206 Cash and cash equivalents , beginning of period 23 482,620 64,317 (23 ) 546,937 Cash and cash equivalents , end of period $ 23 $ 566,915 $ 72,228 $ (23 ) $ 639,143 Condensed Consolidating Statement of Cash Flows For the Sixteen Weeks Ended April 22, 2017 (In thousands) 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

Significant Accounting Polici19

Significant Accounting Policies (Policies)	4 Months Ended
	Apr. 21, 2018
Accounting Policies [Abstract]
Revenue Recognition	Revenues Revenue for periods through December 30, 2017 was reported under Accounting Standards Codification (“ASC”) 605, Revenue Recognition, as described in our accounting policies in our 2017 Form 10-K. Effective December 31, 2017, the Company adopted ASC 606, Revenue From Contracts With Customers (“Topic 606”). The results of applying Topic 606 using the modified retrospective approach were insignificant and did not have a material impact on our consolidated financial condition, results of operations, cash flows, business process, controls or systems. We expect the impact of the adoption of the new standard to be immaterial to our net income on an ongoing basis. In accordance with Topic 606 revenue is recognized at the time the sale is made, at which time our walk-in customers take immediate possession of the merchandise or same-day delivery is made to our Professional delivery customers, which include certain independently-owned store locations. Payment terms are established for our Professional delivery customers based on the Company’s pre-established credit requirements. Payment terms vary depending on the customer and generally range from 1 to 30 days. Based on the nature of receivables no significant financing components exist. For e-commerce sales, revenue is recognized either at the time of pick-up at one of our store locations or at the time of shipment depending on the customer's order designation. Sales are recorded net of discounts, sales incentives and rebates, sales taxes and estimated returns and allowances. We estimate the reduction to sales and cost of sales for returns based on current sales levels and our historical return experience. We provide assurance type warranty coverage primarily on batteries, brakes and shocks whereby we are required to provide replacement product at no cost or a reduced cost. Topic 606 defines a performance obligation as a promise in a contract to transfer a distinct good or service to the customer and is considered the unit of account. The majority of our contracts have one single performance obligation as the promise to transfer the individual goods is not separately identifiable from other promises in the contracts and is, therefore, not distinct. Discounts and incentives are treated as separate performance obligations. We allocate the contract’s transaction price to each of these performance obligations separately using explicitly stated amounts or our best estimate using historical data. Additionally, we estimate and record gift card breakage as redemptions occur. We had no material contract assets, contract liabilities or costs to obtain and fulfill contracts recorded on the Condensed Consolidated Balance Sheet as of April 21, 2018 . For the sixteen weeks ended April 21, 2018 , revenue recognized from performance obligations related to prior periods (for example, due to changes in transaction price), was insignificant. Revenue expected to be recognized in any future periods related to remaining performance obligations is insignificant.
New Accounting Pronouncements	Recently Issued Accounting Pronouncements In February 2016, the FASB issued Accounting Standards Update (“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 most leases, including those leases previously classified as operating leases under current GAAP. Topic 842 retains a distinction between finance leases and operating leases. The classification criteria for distinguishing between finance leases and operating leases are substantially similar to the classification criteria for distinguishing between capital leases and operating leases in the previous leases guidance. The ASU is effective for annual periods beginning after December 15, 2018, including interim periods within those years; earlier adoption is permitted. The FASB issued and approved an exposure draft to amend Topic 842 to provide entities with an additional transition method with which to adopt Topic 842. The approved transition method enables entities to apply the transition requirements in Topic 842 at the effective date of that Topic (rather than at the beginning of the earliest comparative period presented as currently required) with the effects of initially applying Topic 842 recognized as a cumulative-effect adjustment to retained earnings in the period of adoption. Consequently, an entity’s reporting for the comparative periods presented in the year of adoption would continue to be in accordance with Topic 840, including the disclosure requirements of that Topic. Practical expedients are available for election as a package and if applied consistently to all leases. We have selected our leasing software solution and are in the process of identifying changes to our business processes, systems and controls to support adoption of the new standard in 2019. We are evaluating the impact that the new standard will have on the condensed consolidated financial statements. While we are unable to quantify the impact at this time, we expect the adoption of the new standard to result in a material increase in the assets and liabilities in the condensed consolidated financial statements. At this time, we do not expect adoption of ASU 2016-02 to have a material impact on our condensed consolidated statements of operations as the majority of our leases will remain operating in nature. As such, the expense recognition will be similar to previously required straight-line expense treatment. In March 2018, the FASB issued ASU No. 2018-05, “Income Taxes (Topic 740) - Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118”, ("ASU 2018-05"). ASU 2018-05 provides guidance on accounting for the tax effects of the U.S. Tax Cuts and Jobs Act (the “Act”) pursuant to the Staff Accounting Bulletin No. 118, which allows companies to complete the accounting under ASC 740 within a one-year measurement period from the Tax Act enactment date, which occurred in the financial statements for the year ended December 30, 2017. Until the completion of our 2017 U.S. income tax return in the third quarter of 2018, we may identify additional remeasurement adjustments to amounts previously recorded for the nonrecurring repatriation tax on accumulated earnings of foreign subsidiaries and remeasurement of the net deferred tax liability. We will continue to assess our provision for income taxes as future guidance is issued.

Significant Accounting Polici20

Significant Accounting Policies (Tables)	4 Months Ended
	Apr. 21, 2018
Accounting Policies [Abstract]
Revenue from External Customers by Products and Services [Table Text Block]	The following table summarizes disaggregated revenue from contracts with customers by product group: Sixteen Weeks Ended April 21, 2018 April 22, 2017 Percentage of Sales, by Product Group Parts and Batteries 65 % 66 % Accessories and Chemicals 20 19 Engine Maintenance 14 14 Other 1 1 Total 100 % 100 %

Inventories (Tables)

Inventories (Tables)	4 Months Ended
	Apr. 21, 2018
Inventory, Net [Abstract]
Schedule of Inventory, Current [Table Text Block]	Inventory balances were as follows: (in thousands) April 21, 2018 December 30, 2017 Inventories at first in, first out (“FIFO”) $ 4,007,327 $ 3,965,370 Adjustments to state inventories at LIFO 223,146 203,122 Inventories at LIFO $ 4,230,473 $ 4,168,492

Exit Activities and Other Ini22

Exit Activities and Other Initiatives (Tables)	4 Months Ended
	Apr. 21, 2018
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Reserve by Type of Cost [Table Text Block]	A summary of our exit liabilities is presented in the following table: (in thousands) Closed Facility Lease Obligations Severance Total Balance, December 30, 2017 $ 31,570 $ 1,645 $ 33,215 Reserves established 1,566 1,882 3,448 Change in estimates 1,028 (381 ) 647 Cash payments (5,046 ) (1,111 ) (6,157 ) Balance, April 21, 2018 $ 29,118 $ 2,035 $ 31,153 Balance, December 31, 2016 $ 44,265 $ 959 $ 45,224 Reserves established 7,940 7,927 15,867 Change in estimates (1,116 ) (699 ) (1,815 ) Cash payments (19,519 ) (6,542 ) (26,061 ) Balance, December 30, 2017 $ 31,570 $ 1,645 $ 33,215

Receivables, net (Tables)

Receivables, net (Tables)	4 Months Ended
	Apr. 21, 2018
Receivables [Abstract]
Schedule of Accounts Receivable [Table Text Block]	Receivables consist of the following: (in thousands) April 21, 2018 December 30, 2017 Trade $ 431,093 $ 389,963 Vendor 192,152 220,510 Other 16,489 14,103 Total receivables 639,734 624,576 Less: Allowance for doubtful accounts (19,356 ) (18,219 ) Receivables, net $ 620,378 $ 606,357

Long-term Debt and Fair Value24

Long-term Debt and Fair Value of Financial Instruments (Tables)	4 Months Ended
	Apr. 21, 2018
Debt Disclosure [Abstract]
Schedule of Debt [Table Text Block]	Long-term debt consists of the following: (in thousands) April 21, 2018 December 30, 2017 Total long-term debt $ 1,044,930 $ 1,044,677 Less: Current portion of long-term debt (175 ) (350 ) Long-term debt, excluding current portion $ 1,044,755 $ 1,044,327 Fair value of long-term debt $ 1,083,048 $ 1,109,000

Warranty Liabilities (Tables)

Warranty Liabilities (Tables)	4 Months Ended
	Apr. 21, 2018
Product Warranties Disclosures [Abstract]
Schedule of Product Warranty Liability [Table Text Block]	The following table presents changes in our warranty reserves: Sixteen Weeks Ended Fifty-Two Weeks Ended (in thousands) April 21, 2018 December 30, 2017 Warranty reserve, beginning of period $ 49,024 $ 47,243 Additions to warranty reserves 10,251 50,895 Reserves utilized (13,259 ) (49,114 ) Warranty reserve, end of period $ 46,016 $ 49,024

Earnings per Share (Tables)

Earnings per Share (Tables)	4 Months Ended
	Apr. 21, 2018
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	The computation of basic and diluted earnings per share are as follows: Sixteen Weeks Ended (in thousands, except per share data) April 21, 2018 April 22, 2017 Numerator Net income applicable to common shares $ 136,727 $ 107,960 Denominator Basic weighted average common shares 73,979 73,782 Dilutive impact of share-based awards 226 311 Diluted weighted average common shares 74,205 74,093 Basic earnings per common share $ 1.85 $ 1.46 Diluted earnings per common share $ 1.84 $ 1.46

Condensed Consolidating Finan27

Condensed Consolidating Financial Statements (Tables)	4 Months Ended
	Apr. 21, 2018
Condensed Consolidating Financial Statements [Abstract]
Condensed Balance Sheet [Table Text Block]	Condensed Consolidating Balance Sheet As of April 21, 2018 (in thousands) Advance Auto Parts, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ 23 $ 566,915 $ 72,228 $ (23 ) $ 639,143 Receivables, net — 581,914 38,464 — 620,378 Inventories — 4,054,181 176,292 — 4,230,473 Other current assets — 124,909 2,715 (102 ) 127,522 Total current assets 23 5,327,919 289,699 (125 ) 5,617,516 Property and equipment, net of accumulated depreciation 95 1,348,844 9,458 — 1,358,397 Goodwill — 943,359 50,102 — 993,461 Intangible assets, net — 538,939 44,407 — 583,346 Other assets, net 3,177 61,744 489 (3,177 ) 62,233 Investment in subsidiaries 3,661,050 457,062 — (4,118,112 ) — Intercompany note receivable 1,048,789 — — (1,048,789 ) — Due from intercompany, net — — 305,689 (305,689 ) — $ 4,713,134 $ 8,677,867 $ 699,844 $ (5,475,892 ) $ 8,614,953 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ — $ 2,680,822 $ 209,495 $ — $ 2,890,317 Accrued expenses 1,746 526,215 15,484 (102 ) 543,343 Other current liabilities — 47,722 (1,220 ) (23 ) 46,479 Total current liabilities 1,746 3,254,759 223,759 (125 ) 3,480,139 Long-term debt 1,044,755 — — — 1,044,755 Deferred income taxes — 296,295 17,568 (3,177 ) 310,686 Other long-term liabilities — 231,297 1,455 — 232,752 Intercompany note payable — 1,048,789 — (1,048,789 ) — Due to intercompany, net 120,012 185,677 — (305,689 ) — Commitments and contingencies Stockholders' equity 3,546,621 3,661,050 457,062 (4,118,112 ) 3,546,621 $ 4,713,134 $ 8,677,867 $ 699,844 $ (5,475,892 ) $ 8,614,953 Condensed Consolidating Balance Sheet As of December 30, 2017 (in thousands) Advance Auto Parts, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ 23 $ 482,620 $ 64,317 $ (23 ) $ 546,937 Receivables, net — 567,460 38,897 — 606,357 Inventories — 3,986,724 181,768 — 4,168,492 Other current assets — 103,118 2,063 (75 ) 105,106 Total current assets 23 5,139,922 287,045 (98 ) 5,426,892 Property and equipment, net of accumulated depreciation 103 1,384,115 9,920 — 1,394,138 Goodwill — 943,359 50,934 — 994,293 Intangible assets, net — 551,781 45,893 — 597,674 Other assets, net 3,224 68,749 554 (3,223 ) 69,304 Investment in subsidiaries 3,521,330 448,462 — (3,969,792 ) — Intercompany note receivable 1,048,700 — — (1,048,700 ) — Due from intercompany, net — — 332,467 (332,467 ) — $ 4,573,380 $ 8,536,388 $ 726,813 $ (5,354,280 ) $ 8,482,301 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ — $ 2,657,792 $ 236,790 $ — $ 2,894,582 Accrued expenses 1,134 511,841 20,648 (75 ) 533,548 Other current liabilities — 50,963 1,027 (23 ) 51,967 Total current liabilities 1,134 3,220,596 258,465 (98 ) 3,480,097 Long-term debt 1,044,327 — — — 1,044,327 Deferred income taxes — 288,999 17,844 (3,223 ) 303,620 Other long-term liabilities — 237,019 2,042 — 239,061 Intercompany note payable — 1,048,700 — (1,048,700 ) — Due to intercompany, net 112,723 219,744 — (332,467 ) — Commitments and contingencies Stockholders' equity 3,415,196 3,521,330 448,462 (3,969,792 ) 3,415,196 $ 4,573,380 $ 8,536,388 $ 726,813 $ (5,354,280 ) $ 8,482,301
Condensed Income Statement [Table Text Block]	Condensed Consolidating Statement of Operations For the Sixteen Weeks Ended April 21, 2018 (in thousands) Advance Auto Parts, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net sales $ — $ 2,775,903 $ 152,119 $ (54,174 ) $ 2,873,848 Cost of sales, including purchasing and warehousing costs — 1,551,041 104,697 (54,174 ) 1,601,564 Gross profit — 1,224,862 47,422 — 1,272,284 Selling, general and administrative expenses 4,811 1,054,389 30,582 (15,739 ) 1,074,043 Operating (loss) income (4,811 ) 170,473 16,840 15,739 198,241 Other, net: Interest expense (16,078 ) (1,604 ) — — (17,682 ) Other income (expense), net 21,257 (2,993 ) (2,067 ) (15,739 ) 458 Total other, net 5,179 (4,597 ) (2,067 ) (15,739 ) (17,224 ) Income before provision for income taxes 368 165,876 14,773 — 181,017 Provision for income taxes 1,263 40,452 2,575 — 44,290 (Loss) income before equity in earnings of subsidiaries (895 ) 125,424 12,198 — 136,727 Equity in earnings of subsidiaries 137,622 12,198 — (149,820 ) — Net income $ 136,727 $ 137,622 $ 12,198 $ (149,820 ) $ 136,727 Condensed Consolidating Statement of Operations For the Sixteen Weeks Ended April 22, 2017 (in thousands) 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 Comprehensive Income [Table Text Block]	Condensed Consolidating Statement of Comprehensive Income For the Sixteen Weeks Ended April 21, 2018 (in thousands) Advance Auto Parts, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net income $ 136,727 $ 137,622 $ 12,198 $ (149,820 ) $ 136,727 Other comprehensive loss (3,858 ) (3,858 ) (3,767 ) 7,625 (3,858 ) Comprehensive income $ 132,869 $ 133,764 $ 8,431 $ (142,195 ) $ 132,869 Condensed Consolidating Statement of Comprehensive Income For the Sixteen Weeks Ended April 22, 2017 (in thousands) 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 Cash Flow Statement [Table Text Block]	Condensed Consolidating Statement of Cash Flows For the Sixteen Weeks Ended April 21, 2018 (in thousands) Advance Auto Parts, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net cash provided by (used in) operating activities $ — $ 142,408 $ 11,562 $ — $ 153,970 Cash flows from investing activities: Purchases of property and equipment — (34,153 ) (321 ) — (34,474 ) Proceeds from sales of property and equipment — 486 44 — 530 Net cash used in investing activities — (33,667 ) (277 ) — (33,944 ) Cash flows from financing activities: Decrease in bank overdrafts — (9,790 ) (2,311 ) — (12,101 ) Dividends paid — (8,930 ) — — (8,930 ) Proceeds from the issuance of common stock — 754 — — 754 Tax withholdings related to the exercise of stock appreciation rights — (93 ) — — (93 ) Repurchase of common stock — (5,223 ) — — (5,223 ) Other, net — (1,164 ) — — (1,164 ) Net cash used in financing activities — (24,446 ) (2,311 ) — (26,757 ) Effect of exchange rate changes on cash — — (1,063 ) — (1,063 ) Net increase in cash and cash equivalents — 84,295 7,911 — 92,206 Cash and cash equivalents , beginning of period 23 482,620 64,317 (23 ) 546,937 Cash and cash equivalents , end of period $ 23 $ 566,915 $ 72,228 $ (23 ) $ 639,143 Condensed Consolidating Statement of Cash Flows For the Sixteen Weeks Ended April 22, 2017 (In thousands) 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

Nature of Operations and Basi28

Nature of Operations and Basis of Presentation (Details)	Apr. 21, 2018store
Stores [Member]
Basis of Presentation [Line Items]
Number of Stores	5,044
Branches [Member]
Basis of Presentation [Line Items]
Number of Stores	131
Independently owned Carquest store locations [Member]
Basis of Presentation [Line Items]
Number of Stores	1,225

Significant Accounting Polici29

Significant Accounting Policies (Details)	4 Months Ended
	Apr. 21, 2018	Apr. 22, 2017
parts and batteries [Member]
Revenue from External Customer [Line Items]
Percentage Of Sales By Product Group	65.00%	66.00%
Accessories [Member]
Revenue from External Customer [Line Items]
Percentage Of Sales By Product Group	20.00%	19.00%
Engine Maintenance [Member]
Revenue from External Customer [Line Items]
Percentage Of Sales By Product Group	14.00%	14.00%
other products [Member]
Revenue from External Customer [Line Items]
Percentage Of Sales By Product Group	1.00%	1.00%

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	4 Months Ended
	Apr. 21, 2018	Apr. 22, 2017	Dec. 30, 2017
Inventory [Line Items]
Percentage of LIFO Inventory	88.00%
Inventory, LIFO Reserve, Effect on Income, Net	$ 20,000	$ 18,000
Inventories at FIFO	4,007,327		$ 3,965,370
Adjustments to state inventories at LIFO	223,146		203,122
Inventories at LIFO	$ 4,230,473		$ 4,168,492

Exit Activities and Other Ini31

Exit Activities and Other Initiativies (Details) $ in Thousands	4 Months Ended		12 Months Ended
	Apr. 21, 2018USD ($)store	Apr. 22, 2017USD ($)	Dec. 29, 2018USD ($)	Dec. 30, 2017USD ($)
Restructuring Reserve [Roll Forward]
Restructuring Reserve, beginning of period	$ 33,215	$ 45,224	$ 33,215	$ 45,224
Reserves established	3,448			15,867
Change in estimates	647			(1,815)
Cash payments	(6,157)			(26,061)
Restructuring Reserve, end of period	$ 31,153			33,215
Carquest consolidations completed to date [Member]
Restructuring Cost and Reserve [Line Items]
Number of Stores | store	348
Carquest consolidations completed during the current year [Member]
Restructuring Cost and Reserve [Line Items]
Number of Stores | store	2
Carquest conversions completed to date [Member]
Restructuring Cost and Reserve [Line Items]
Number of Stores | store	423
Carquest conversions completed this fiscal year [Member]
Restructuring Cost and Reserve [Line Items]
Number of Stores | store	1
GPI stores remaining to be consolidated [Member]
Restructuring Cost and Reserve [Line Items]
Number of Stores | store	427
Closed Facility Lease Obligations [Member]
Restructuring Reserve [Roll Forward]
Restructuring Reserve, beginning of period	$ 31,570	44,265	31,570	44,265
Reserves established	1,566			7,940
Change in estimates	1,028			(1,116)
Cash payments	(5,046)			(19,519)
Restructuring Reserve, end of period	29,118			31,570
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	400	1,100
Closed Facility Lease Obligations [Member] | StoreAndSupplyChainRationaization [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	1,100
Severance [Member]
Restructuring Reserve [Roll Forward]
Restructuring Reserve, beginning of period	1,645	$ 959	1,645	959
Reserves established	1,882			7,927
Change in estimates	(381)			(699)
Cash payments	(1,111)			(6,542)
Restructuring Reserve, end of period	2,035			$ 1,645
Severance [Member] | StoreAndSupplyChainRationaization [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	300
Impairment [Member] | StoreAndSupplyChainRationaization [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	1,500
Other facility closure costs [Member] | StoreAndSupplyChainRationaization [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	300
Other Noncurrent Liabilities [Member]
Restructuring Reserve [Roll Forward]
Restructuring Reserve, end of period	$ 18,600
Scenario, Forecast [Member] | StoreAndSupplyChainRationaization [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost			70,000
Scenario, Forecast [Member] | Closed Facility Lease Obligations [Member] | StoreAndSupplyChainRationaization [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost			35,000
Scenario, Forecast [Member] | Severance [Member] | StoreAndSupplyChainRationaization [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost			5,000
Scenario, Forecast [Member] | Impairment [Member] | StoreAndSupplyChainRationaization [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost			15,000
Scenario, Forecast [Member] | Other facility closure costs [Member] | StoreAndSupplyChainRationaization [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost			$ 15,000

Intangible Asset (Details)

Intangible Asset (Details) - USD ($) $ in Millions	4 Months Ended
	Apr. 21, 2018	Apr. 22, 2017
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization Expense	$ 13.4	$ 14.6

Receivables, net (Details)

Receivables, net (Details) - USD ($) $ in Thousands	Apr. 21, 2018	Dec. 30, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total receivables	$ 639,734	$ 624,576
Less: Allowance for doubtful accounts	(19,356)	(18,219)
Receivables, net	620,378	606,357
Trade Accounts Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total receivables	431,093	389,963
Accounts Receivable, Vendor [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total receivables	192,152	220,510
Accounts Receivable, Other [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total receivables	$ 16,489	$ 14,103

Long-term Debt and Fair Value34

Long-term Debt and Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Apr. 21, 2018	Dec. 30, 2017
Debt Instrument [Line Items]
Total long-term debt	$ 1,044,930	$ 1,044,677
Less: Current portion of long-term debt (included in Other current liabilities)	(175)	(350)
Long-term debt, excluding current portion	1,044,755	1,044,327
Fair value of long-term debt	1,083,048	$ 1,109,000
Letters of Credit Outstanding, Amount	111,700
Line of Credit Facility, Remaining Borrowing Capacity	888,300
Guarantor Obligations, Maximum Exposure	26,300
Guarantor Obligation, Collateral Amount	$ 65,800

Warranty Liabilities (Details)

Warranty Liabilities (Details) - USD ($) $ in Thousands	4 Months Ended	12 Months Ended
	Apr. 21, 2018	Dec. 30, 2017
Movement in Standard Product Warranty Accrual [Roll Forward]
Warranty reserve, beginning of period	$ 49,024	$ 47,243
Additions to warranty reserves	10,251	50,895
Reserves utilized	(13,259)	(49,114)
Warranty reserve, end of period	$ 46,016	$ 49,024

Earnings per Share (Details)

Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	4 Months Ended
	Apr. 21, 2018	Apr. 22, 2017
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income	$ 136,727	$ 107,960
Basic weighted average shares	73,979	73,782
Dilutive impact of share-based awards	226	311
Diluted weighted average shares	74,205	74,093
Basic earnings per share	$ 1.85	$ 1.46
Diluted earnings per share	$ 1.84	$ 1.46

Share-Based Compensation (Detai

Share-Based Compensation (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	4 Months Ended
	Apr. 21, 2018	Apr. 22, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation	$ 7,642	$ 12,374
Share-based Compensation, Tax Benefit from Compensation Expense	1,800
Share-based Compensation, Cost Not yet Recognized	$ 53,900
Share-based Compensation, Cost Not yet Recognized, Period for Recognition	1 year 10 months 21 days
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in Period	69
Weighted Average Grant Date Fair Value	$ 116.82
Market Based Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in Period	36
Weighted Average Grant Date Fair Value	$ 130.88
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in Period	147
Weighted Average Grant Date Fair Value	$ 117.49

Condensed Consolidating Balance

Condensed Consolidating Balance Sheet (Details) - USD ($) $ in Thousands	Apr. 21, 2018	Dec. 30, 2017	Apr. 22, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 639,143	$ 546,937	$ 126,087	$ 135,178
Receivables, net	620,378	606,357
Inventories	4,230,473	4,168,492
Other current assets	127,522	105,106
Total current assets	5,617,516	5,426,892
Property and equipment, net of accumulated depreciation	1,358,397	1,394,138
Goodwill	993,461	994,293
Intangible assets, net	583,346	597,674
Other assets, net	62,233	69,304
Investment in subsidiaries	0	0
Intercompany note receivable	0	0
Due from intercompany, net	0	0
Assets, Total	8,614,953	8,482,301
Current liabilities:
Accounts payable	2,890,317	2,894,582
Accrued expenses	543,343	533,548
Other current liabilities	46,479	51,967
Total current liabilities	3,480,139	3,480,097
Long-term debt	1,044,755	1,044,327
Deferred income taxes	310,686	303,620
Other long-term liabilities	232,752	239,061
Intercompany note payable	0	0
Due to intercompany, net	0	0
Commitments and contingencies
Total stockholders' equity	3,546,621	3,415,196
Liabilities and Stockholders' Equity, Total	8,614,953	8,482,301
Parent Company [Member]
Current assets:
Cash and cash equivalents	23	23	22	22
Receivables, net	0	0
Inventories	0	0
Other current assets	0	0
Total current assets	23	23
Property and equipment, net of accumulated depreciation	95	103
Goodwill	0	0
Intangible assets, net	0	0
Other assets, net	3,177	3,224
Investment in subsidiaries	3,661,050	3,521,330
Intercompany note receivable	1,048,789	1,048,700
Due from intercompany, net	0	0
Assets, Total	4,713,134	4,573,380
Current liabilities:
Accounts payable	0	0
Accrued expenses	1,746	1,134
Other current liabilities	0	0
Total current liabilities	1,746	1,134
Long-term debt	1,044,755	1,044,327
Deferred income taxes	0	0
Other long-term liabilities	0	0
Intercompany note payable	0	0
Due to intercompany, net	120,012	112,723
Commitments and contingencies
Total stockholders' equity	3,546,621	3,415,196
Liabilities and Stockholders' Equity, Total	4,713,134	4,573,380
Guarantor Subsidiaries [Member]
Current assets:
Cash and cash equivalents	566,915	482,620	87,644	78,543
Receivables, net	581,914	567,460
Inventories	4,054,181	3,986,724
Other current assets	124,909	103,118
Total current assets	5,327,919	5,139,922
Property and equipment, net of accumulated depreciation	1,348,844	1,384,115
Goodwill	943,359	943,359
Intangible assets, net	538,939	551,781
Other assets, net	61,744	68,749
Investment in subsidiaries	457,062	448,462
Intercompany note receivable	0	0
Due from intercompany, net	0	0
Assets, Total	8,677,867	8,536,388
Current liabilities:
Accounts payable	2,680,822	2,657,792
Accrued expenses	526,215	511,841
Other current liabilities	47,722	50,963
Total current liabilities	3,254,759	3,220,596
Long-term debt	0	0
Deferred income taxes	296,295	288,999
Other long-term liabilities	231,297	237,019
Intercompany note payable	1,048,789	1,048,700
Due to intercompany, net	185,677	219,744
Commitments and contingencies
Total stockholders' equity	3,661,050	3,521,330
Liabilities and Stockholders' Equity, Total	8,677,867	8,536,388
Non-Guarantor Subsidiaries [Member]
Current assets:
Cash and cash equivalents	72,228	64,317	38,443	56,635
Receivables, net	38,464	38,897
Inventories	176,292	181,768
Other current assets	2,715	2,063
Total current assets	289,699	287,045
Property and equipment, net of accumulated depreciation	9,458	9,920
Goodwill	50,102	50,934
Intangible assets, net	44,407	45,893
Other assets, net	489	554
Investment in subsidiaries	0	0
Intercompany note receivable	0	0
Due from intercompany, net	305,689	332,467
Assets, Total	699,844	726,813
Current liabilities:
Accounts payable	209,495	236,790
Accrued expenses	15,484	20,648
Other current liabilities	(1,220)	1,027
Total current liabilities	223,759	258,465
Long-term debt	0	0
Deferred income taxes	17,568	17,844
Other long-term liabilities	1,455	2,042
Intercompany note payable	0	0
Due to intercompany, net	0	0
Commitments and contingencies
Total stockholders' equity	457,062	448,462
Liabilities and Stockholders' Equity, Total	699,844	726,813
Consolidation, Eliminations [Member]
Current assets:
Cash and cash equivalents	(23)	(23)	$ (22)	$ (22)
Receivables, net	0	0
Inventories	0	0
Other current assets	(102)	(75)
Total current assets	(125)	(98)
Property and equipment, net of accumulated depreciation	0	0
Goodwill	0	0
Intangible assets, net	0	0
Other assets, net	(3,177)	(3,223)
Investment in subsidiaries	(4,118,112)	(3,969,792)
Intercompany note receivable	(1,048,789)	(1,048,700)
Due from intercompany, net	(305,689)	(332,467)
Assets, Total	(5,475,892)	(5,354,280)
Current liabilities:
Accounts payable	0	0
Accrued expenses	(102)	(75)
Other current liabilities	(23)	(23)
Total current liabilities	(125)	(98)
Long-term debt	0	0
Deferred income taxes	(3,177)	(3,223)
Other long-term liabilities	0	0
Intercompany note payable	(1,048,789)	(1,048,700)
Due to intercompany, net	(305,689)	(332,467)
Commitments and contingencies
Total stockholders' equity	(4,118,112)	(3,969,792)
Liabilities and Stockholders' Equity, Total	$ (5,475,892)	$ (5,354,280)

Condensed Consolidated Income S

Condensed Consolidated Income Statement (Details) - USD ($) $ in Thousands	4 Months Ended
	Apr. 21, 2018	Apr. 22, 2017
Condensed Income Statements, Captions [Line Items]
Net sales	$ 2,873,848	$ 2,890,838
Cost of sales, including purchasing and warehousing costs	1,601,564	1,620,154
Gross profit	1,272,284	1,270,684
Selling, general and administrative expenses	1,074,043	1,090,904
Operating income (loss)	198,241	179,780
Other, net:
Interest (expense) income	(17,682)	(18,430)
Other income (expense), net	458	4,813
Total other, net	(17,224)	(13,617)
Income before provision for income taxes	181,017	166,163
Provision for income taxes	44,290	58,203
Income (loss) before equity in earnings of subsidiaries	136,727	107,960
Equity in earnings of subsidiaries	0	0
Net income	136,727	107,960
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	4,811	14,797
Operating income (loss)	(4,811)	(14,797)
Other, net:
Interest (expense) income	(16,078)	(16,290)
Other income (expense), net	21,257	31,784
Total other, net	5,179	15,494
Income before provision for income taxes	368	697
Provision for income taxes	1,263	(1,743)
Income (loss) before equity in earnings of subsidiaries	(895)	2,440
Equity in earnings of subsidiaries	137,622	105,520
Net income	136,727	107,960
Guarantor Subsidiaries [Member]
Condensed Income Statements, Captions [Line Items]
Net sales	2,775,903	2,801,854
Cost of sales, including purchasing and warehousing costs	1,551,041	1,577,273
Gross profit	1,224,862	1,224,581
Selling, general and administrative expenses	1,054,389	1,067,656
Operating income (loss)	170,473	156,925
Other, net:
Interest (expense) income	(1,604)	(2,159)
Other income (expense), net	(2,993)	(7,352)
Total other, net	(4,597)	(9,511)
Income before provision for income taxes	165,876	147,414
Provision for income taxes	40,452	57,446
Income (loss) before equity in earnings of subsidiaries	125,424	89,968
Equity in earnings of subsidiaries	12,198	15,552
Net income	137,622	105,520
Non-Guarantor Subsidiaries [Member]
Condensed Income Statements, Captions [Line Items]
Net sales	152,119	172,004
Cost of sales, including purchasing and warehousing costs	104,697	125,901
Gross profit	47,422	46,103
Selling, general and administrative expenses	30,582	24,402
Operating income (loss)	16,840	21,701
Other, net:
Interest (expense) income	0	19
Other income (expense), net	(2,067)	(3,668)
Total other, net	(2,067)	(3,649)
Income before provision for income taxes	14,773	18,052
Provision for income taxes	2,575	2,500
Income (loss) before equity in earnings of subsidiaries	12,198	15,552
Equity in earnings of subsidiaries	0	0
Net income	12,198	15,552
Consolidation, Eliminations [Member]
Condensed Income Statements, Captions [Line Items]
Net sales	(54,174)	(83,020)
Cost of sales, including purchasing and warehousing costs	(54,174)	(83,020)
Gross profit	0	0
Selling, general and administrative expenses	(15,739)	(15,951)
Operating income (loss)	15,739	15,951
Other, net:
Interest (expense) income	0	0
Other income (expense), net	(15,739)	(15,951)
Total other, net	(15,739)	(15,951)
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	(149,820)	(121,072)
Net income	$ (149,820)	$ (121,072)

Condensed Consolidating Compreh

Condensed Consolidating Comprehensive Income Statement (Details) - USD ($) $ in Thousands	4 Months Ended
	Apr. 21, 2018	Apr. 22, 2017
Condensed Consolidating Comprehensive Income Statement [Line Items]
Net income	$ 136,727	$ 107,960
Changes in net unrecognized other postretirement benefit costs, net of tax	(91)	(85)
Currency translation adjustments	(3,767)	(788)
Other Comprehensive Income (Loss), Net of Tax	(3,858)	(873)
Comprehensive income	132,869	107,087
Parent Company [Member]
Condensed Consolidating Comprehensive Income Statement [Line Items]
Net income	136,727	107,960
Other Comprehensive Income (Loss), Net of Tax	(3,858)	(873)
Comprehensive income	132,869	107,087
Guarantor Subsidiaries [Member]
Condensed Consolidating Comprehensive Income Statement [Line Items]
Net income	137,622	105,520
Other Comprehensive Income (Loss), Net of Tax	(3,858)	(873)
Comprehensive income	133,764	104,647
Non-Guarantor Subsidiaries [Member]
Condensed Consolidating Comprehensive Income Statement [Line Items]
Net income	12,198	15,552
Other Comprehensive Income (Loss), Net of Tax	(3,767)	(788)
Comprehensive income	8,431	14,764
Consolidation, Eliminations [Member]
Condensed Consolidating Comprehensive Income Statement [Line Items]
Net income	(149,820)	(121,072)
Other Comprehensive Income (Loss), Net of Tax	7,625	1,661
Comprehensive income	$ (142,195)	$ (119,411)

Condensed Consolidating Stateme

Condensed Consolidating Statement of Cash Flows (Details) - USD ($) $ in Thousands	4 Months Ended
	Apr. 21, 2018	Apr. 22, 2017
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	$ 153,970	$ 35,081
Net cash provided by (used in) investing activities
Purchases of property and equipment	(34,474)	(65,279)
Proceeds from sales of property and equipment	530	947
Other, net	0	193
Net cash used in investing activities	(33,944)	(64,139)
Net cash provided by (used in) financing activities
Increase (decrease) in bank overdrafts	(12,101)	8,490
Borrowings under credit facilities	0	483,500
Payments on credit facilities	0	(453,500)
Dividends paid	(8,930)	(8,902)
Proceeds from the issuance of common stock	754	1,036
Tax withholdings related to the exercise of stock appreciation rights	(93)	(5,707)
Repurchase of common stock	(5,223)	(3,121)
Other, net	(1,164)	(1,924)
Net cash (used in) provided by financing activities	(26,757)	19,872
Effect of exchange rate changes on cash	(1,063)	95
Net increase (decrease) in cash and cash equivalents	92,206	(9,091)
Cash and cash equivalents, beginning of period	546,937	135,178
Cash and cash equivalents, end of period	639,143	126,087
Parent Company [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	0	0
Net cash provided by (used in) investing activities
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
Net cash provided by (used in) financing activities
Increase (decrease) in bank overdrafts	0	0
Borrowings under credit facilities		0
Payments on credit facilities		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, net	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	23	22
Cash and cash equivalents, end of period	23	22
Guarantor Subsidiaries [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	142,408	55,378
Net cash provided by (used in) investing activities
Purchases of property and equipment	(34,153)	(64,978)
Proceeds from sales of property and equipment	486	947
Other, net		(253)
Net cash used in investing activities	(33,667)	(64,284)
Net cash provided by (used in) financing activities
Increase (decrease) in bank overdrafts	(9,790)	6,625
Borrowings under credit facilities		483,500
Payments on credit facilities		(453,500)
Dividends paid	(8,930)	(8,902)
Proceeds from the issuance of common stock	754	1,036
Tax withholdings related to the exercise of stock appreciation rights	(93)	(5,707)
Repurchase of common stock	(5,223)	(3,121)
Other, net	(1,164)	(1,924)
Net cash (used in) provided by financing activities	(24,446)	18,007
Effect of exchange rate changes on cash	0	0
Net increase (decrease) in cash and cash equivalents	84,295	9,101
Cash and cash equivalents, beginning of period	482,620	78,543
Cash and cash equivalents, end of period	566,915	87,644
Non-Guarantor Subsidiaries [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	11,562	(20,297)
Net cash provided by (used in) investing activities
Purchases of property and equipment	(321)	(301)
Proceeds from sales of property and equipment	44	0
Other, net		446
Net cash used in investing activities	(277)	145
Net cash provided by (used in) financing activities
Increase (decrease) in bank overdrafts	(2,311)	1,865
Borrowings under credit facilities		0
Payments on credit facilities		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, net	0	0
Net cash (used in) provided by financing activities	(2,311)	1,865
Effect of exchange rate changes on cash	(1,063)	95
Net increase (decrease) in cash and cash equivalents	7,911	(18,192)
Cash and cash equivalents, beginning of period	64,317	56,635
Cash and cash equivalents, end of period	72,228	38,443
Consolidation, Eliminations [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	0	0
Net cash provided by (used in) investing activities
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
Net cash provided by (used in) financing activities
Increase (decrease) in bank overdrafts	0	0
Borrowings under credit facilities		0
Payments on credit facilities		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, net	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	(23)	(22)
Cash and cash equivalents, end of period	$ (23)	$ (22)