AutoZone (AZO) 10-Q 17 Mar 20 2020 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Feb. 15, 2020	Mar. 13, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Feb. 15, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Entity Registrant Name	AUTOZONE INC
Entity Central Index Key	0000866787
Current Fiscal Year End Date	--08-29
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Trading Symbol	AZO
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Title of 12(b) Security	Common Stock
Security Exchange Name	NYSE
Entity Address, State or Province	TN
Entity Common Stock, Shares Outstanding		23,352,430
City Area Code	901
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	1-10714
Local Phone Number	495-6500
Entity Address, Postal Zip Code	38103
Entity Tax Identification Number	62-1482048
Entity Address, Address Line One	123 South Front Street
Entity Address, City or Town	Memphis
Entity Incorporation, State or Country Code	NV

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Feb. 15, 2020	Aug. 31, 2019
Current assets:
Cash and cash equivalents	$ 152,970	$ 176,300
Accounts receivable	340,280	308,995
Merchandise inventories	4,606,211	4,319,113
Other current assets	201,086	224,277
Total current assets	5,300,547	5,028,685
Property and equipment:
Property and equipment	7,948,231	7,713,196
Less: Accumulated depreciation and amortization	(3,471,805)	(3,314,445)
Property and equipment, net	4,476,426	4,398,751
Operating lease right-of-use assets	2,579,217	0
Goodwill	302,645	302,645
Deferred income taxes	27,945	26,861
Other long-term assets	176,969	138,971
Other long-term assets, total	3,086,776	468,477
Assets	12,863,749	9,895,913
Current liabilities:
Accounts payable	4,869,914	4,864,912
Current portion of operating lease liabilities	234,506	0
Accrued expenses and other	632,343	621,932
Income taxes payable	42,797	25,297
Total current liabilities	5,779,560	5,512,141
Long-term debt	5,451,471	5,206,344
Operating lease liabilities, less current portion	2,494,840	0
Deferred income taxes	325,263	311,980
Other long-term liabilities	523,734	579,299
Commitments and contingencies
Stockholders' deficit:
Preferred stock, authorized 1,000 shares; no shares issued	0	0
Common stock, par value $.01 per share, authorized 200,000 shares; 23,653 shares issued and 23,488 shares outstanding as of February 15, 2020; 25,445 shares issued and 24,038 shares outstanding as of August 31, 2019	237	254
Additional paid-in capital	1,241,733	1,264,448
Retained deficit	(2,534,322)	(1,305,347)
Accumulated other comprehensive loss	(228,337)	(269,322)
Treasury stock, at cost	(190,430)	(1,403,884)
Total stockholders' deficit	(1,711,119)	(1,713,851)
Liabilities and Stockholders' Deficit	$ 12,863,749	$ 9,895,913

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Feb. 15, 2020	Aug. 31, 2019
Common Stock [Member]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	23,653,000	25,445,000
Common stock, shares outstanding	23,488,000	24,038,000
Preferred Stock [Member]
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		5 Months Ended	6 Months Ended
	Feb. 15, 2020	Feb. 09, 2019	Feb. 09, 2019	Feb. 15, 2020
Income Statement [Abstract]
Net sales	$ 2,513,663	$ 2,450,568	$ 5,092,302	$ 5,306,700
Cost of sales, including warehouse and delivery expenses	1,147,600	1,125,461	2,349,721	2,439,569
Gross profit	1,366,063	1,325,107	2,742,581	2,867,131
Operating, selling, general and administrative expenses	958,125	925,087	1,854,742	1,959,170
Operating profit	407,938	400,020	887,839	907,961
Interest expense, net	44,335	41,362	80,369	88,078
Income before income taxes	363,603	358,658	807,470	819,883
Income tax expense	64,321	64,020	161,426	170,263
Net income	$ 299,282	$ 294,638	$ 646,044	$ 649,620
Weighted average shares for basic earnings per share	23,570	25,166	25,397	23,722
Effect of dilutive stock equivalents	590	477	473	604
Weighted average shares for diluted earnings per share	24,160	25,643	25,870	24,326
Basic earnings per share	$ 12.70	$ 11.71	$ 25.44	$ 27.38
Diluted earnings per share	$ 12.39	$ 11.49	$ 24.97	$ 26.70

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands		3 Months Ended		5 Months Ended	6 Months Ended
		Feb. 15, 2020	Feb. 09, 2019	Feb. 09, 2019	Feb. 15, 2020
Statement of Comprehensive Income [Abstract]
Net income		$ 299,282	$ 294,638	$ 646,044	$ 649,620
Other comprehensive income (loss):
Foreign currency translation adjustments		21,178	39,332	(1,241)	40,218
Unrealized gains (losses) on marketable debt securities, net of taxes	[1]	178	508	431	(10)
Net derivative activities, net of taxes	[2]	388	389	778	777
Total other comprehensive income (loss)		21,744	40,229	(32)	40,985
Comprehensive income		$ 321,026	$ 334,867	$ 646,012	$ 690,605
[1]	Unrealized gains on marketable debt securities are presented net of taxes of $47 in fiscal 2020 and $135 in fiscal 2019 for the twelve weeks ended. Unrealized losses on marketable securities are presented net of tax benefit of $3 in fiscal 2020, and unrealized gains on marketable securities are presented net of taxes of $115 in fiscal 2019 for the twenty-four weeks ended.
[2]	Net derivative activities are presented net of taxes of $120 in fiscal 2020 and fiscal 2019 for the twelve weeks ended and $240 for fiscal 2020 and fiscal 2019 for the twenty-four weeks ended.

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		5 Months Ended	6 Months Ended
	Feb. 15, 2020	Feb. 09, 2019	Feb. 09, 2019	Feb. 15, 2020
Unrealized gains (losses) on marketable debt securities, net of taxes	$ 47	$ 135	$ 115	$ 3
Net derivative activities, taxes	$ 120	$ 120	$ 240	$ 240

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	5 Months Ended	6 Months Ended
	Feb. 09, 2019	Feb. 15, 2020
Cash flows from operating activities:
Net income	$ 646,044	$ 649,620
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property and equipment and intangibles	166,230	180,420
Amortization of debt origination fees	3,668	4,216
Deferred income taxes	7,211	11,154
Share-based compensation expense	21,558	22,107
Changes in operating assets and liabilities:
Accounts receivable	(38,338)	(28,897)
Merchandise inventories	(364,392)	(262,234)
Accounts payable and accrued expenses	256,969	6,571
Income taxes payable	31,701	11,124
Other, net	86,418	57,563
Net cash provided by operating activities	817,069	651,644
Cash flows from investing activities:
Capital expenditures	(195,832)	(190,563)
Purchase of marketable debt securities	(21,054)	(56,347)
Proceeds from sale of marketable debt securities	34,531	70,812
Proceeds from disposal of capital assets and other, net	6,152	1,185
Net cash used in investing activities	(176,203)	(174,913)
Cash flows from financing activities:
Net proceeds from commercial paper	103,500	242,700
Net proceeds from sale of common stock	107,578	48,705
Purchase of treasury stock	(847,097)	(764,846)
Repayment of principal portion of finance lease liabilities	(25,529)	(29,324)
Net cash used in financing activities	(661,548)	(502,765)
Effect of exchange rate changes on cash	(1,477)	2,704
Net (decrease) in cash and cash equivalents	(22,159)	(23,330)
Cash and cash equivalents at beginning of period	217,824	176,300
Cash and cash equivalents at end of period	$ 195,665	$ 152,970

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Deficit [Member]	Accumulated Other Comprehensive Loss [Member]	Treasury Stock [Member]
Balance at Aug. 25, 2018	$ (1,520,355)	$ 275	$ 1,155,426	$ (1,208,824)	$ (235,805)	$ (1,231,427)
Balance, Shares at Aug. 25, 2018		27,530,000
Cumulative effect of adoption of ASU 2014-09 at Aug. 25, 2018	(6,773)	$ 0	0	(6,773)	0	0
Balance at August 25, 2018, as adjusted at Aug. 25, 2018	(1,527,128)	$ 275	1,155,426	(1,215,597)	(235,805)	(1,231,427)
Balance at August 25, 2018, as adjusted, shares at Aug. 25, 2018		27,530,000
Net income	646,044	$ 0	0	646,044	0	0
Total other comprehensive gain (loss)	(32)	0	0	0	(32)	0
Retirement of treasury shares	0	$ (26)	(125,442)	(1,706,972)	0	1,832,440
Retirement of treasury shares, shares		(2,563,000)
Purchase of treasury stock	(847,097)	$ 0	0	0	0	(847,097)
Issuance of common stock under stock options and stock purchase plans	113,946	$ 4	113,942	0	0	0
Issuance of common stock under stock options and stock purchase plans, Shares		292,000
Share-based compensation expense	19,905	$ 0	19,905	0	0	0
Balance at Feb. 09, 2019	(1,594,362)	$ 253	1,163,831	(2,276,525)	(235,837)	(246,084)
Balance, shares at Feb. 09, 2019		25,259,000
Balance at Nov. 17, 2018	(1,658,616)	$ 277	1,209,851	(864,191)	(276,066)	(1,728,487)
Balance, Shares at Nov. 17, 2018		27,658,000
Net income	294,638	$ 0	0	294,638	0	0
Total other comprehensive gain (loss)	40,229	0	0	0	40,229	0
Retirement of treasury shares	0	$ (26)	(125,442)	(1,706,972)	0	1,832,440
Retirement of treasury shares, shares		(2,563,000)
Purchase of treasury stock	(350,037)	$ 0	0	0	0	(350,037)
Issuance of common stock under stock options and stock purchase plans	69,020	$ 2	69,018	0	0	0
Issuance of common stock under stock options and stock purchase plans, Shares		164,000
Share-based compensation expense	10,404	$ 0	10,404	0	0	0
Balance at Feb. 09, 2019	(1,594,362)	$ 253	1,163,831	(2,276,525)	(235,837)	(246,084)
Balance, shares at Feb. 09, 2019		25,259,000
Balance at Aug. 31, 2019	(1,713,851)	$ 254	1,264,448	(1,305,347)	(269,322)	(1,403,884)
Balance, Shares at Aug. 31, 2019		25,445,000
Net income	649,620	$ 0	0	649,620	0	0
Total other comprehensive gain (loss)	40,985	0	0	0	40,985	0
Retirement of treasury shares	0	$ (19)	(99,686)	(1,878,595)	0	1,978,300
Retirement of treasury shares, shares		(1,912,000)
Purchase of treasury stock	(764,846)	$ 0	0	0	0	(764,846)
Issuance of common stock under stock options and stock purchase plans	55,301	$ 2	55,299	0	0	0
Issuance of common stock under stock options and stock purchase plans, Shares		120,000
Share-based compensation expense	21,672	$ 0	21,672	0	0	0
Balance at Feb. 15, 2020	(1,711,119)	$ 237	1,241,733	(2,534,322)	(228,337)	(190,430)
Balance, shares at Feb. 15, 2020		23,653,000
Balance at Nov. 23, 2019	(1,776,090)	$ 254	1,282,629	(955,009)	(250,081)	(1,853,883)
Balance, Shares at Nov. 23, 2019		25,465,000
Net income	299,282	$ 0	0	299,282	0	0
Total other comprehensive gain (loss)	21,744	0	0	0	21,744	0
Retirement of treasury shares	0	$ (19)	(99,686)	(1,878,595)	0	1,978,300
Retirement of treasury shares, shares		(1,912,000)
Purchase of treasury stock	(314,847)	$ 0	0	0	0	(314,847)
Issuance of common stock under stock options and stock purchase plans	46,479	$ 2	46,477	0	0	0
Issuance of common stock under stock options and stock purchase plans, Shares		100,000
Share-based compensation expense	12,313	$ 0	12,313	0	0	0
Balance at Feb. 15, 2020	$ (1,711,119)	$ 237	$ 1,241,733	$ (2,534,322)	$ (228,337)	$ (190,430)
Balance, shares at Feb. 15, 2020		23,653,000

CONDENSED CONSOLIDATED STATEM_6

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT (Parenthetical) - shares	3 Months Ended		5 Months Ended	6 Months Ended	266 Months Ended
	Feb. 15, 2020	Feb. 09, 2019	Feb. 09, 2019	Feb. 15, 2020	Feb. 15, 2020
Statement of Stockholders' Equity [Abstract]
Purchase of treasury stock, shares	267,000	422,000	1,076,000	669,967	147,500,000

General

General	3 Months Ended
	Feb. 15, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
General	Note A – General The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with United States (“U.S.”) generally accepted accounting principles (“U.S. GAAP”) for interim financial information and are presented in accordance with the requirements of Form 10-Q 10-K Operating results for the twelve and twenty-four weeks ended February 15, 2020 are not necessarily indicative of the results that may be expected for the full fiscal year ending August 29, 2020. Each of the first three quarters of AutoZone’s fiscal year consists of 12 weeks, and the fourth quarter consists of 16 or 17 weeks. The fourth quarter of fiscal 2020 has 16 weeks and fiscal 2019 had 17 weeks.​​​​​​​ Recently Adopted Accounting Pronouncements: In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-02, Leases (Topic 842) two-fold right-of-use 2016-02 . The Company adopted this standard and its amendments as of September 1, 2019, using the modified retrospective transition method. Under this method, existing leases were recorded at the adoption date, comparative periods were not restated and prior period amounts were not adjusted and continue to be reported under the accounting standards in effect for the prior periods. In addition, the Company elected the package of practical expedients permitted under the transition guidance within the new standard, which among other things, allowed the carry forward of prior lease identification under Accounting Standards Codification (“ASC”) Topic 840. The Company made the accounting policy election for short-term leases resulting in lease payments being recorded as an expense on a straight-line basis over the lease term. The Company also elected the practical expedient to not separate lease components from the non-lease right-of-use right-of-use s L In June 2018, the FASB issued ASU 2018-07, Compensation – Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting 2018-07 2018-07 Recently Issued Accounting Pronouncements: In August 2018, the FASB issued ASU 2018-15, Intangibles – Goodwill and Other Internal Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract internal-use 2018-15 In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments 2018-19, Codification Improvements to Topic 326, Financial Instruments Credit Losses 2016-13 Further, the new credit loss model will affect how entities estimate their allowance for loss receivables that are current with respect to their payment terms. ASU 2016-13 with s s

Share-Based Payments

Share-Based Payments	3 Months Ended
	Feb. 15, 2020
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Payments	Note B – Share-Based Payments AutoZone maintains several equity incentive plans, which provide equity-based compensation to non-employee Stock Options: The Company made stock option grants of shares during the twenty-four week period ended February , and granted options to purchase shares during the comparable prior year period. The Company grants options to purchase common stock to certain of its employees under its plan at prices equal to the market value of the stock on the date of grant. The fair value of each option is amortized into compensation expense on a straight-line basis between the grant date for the award and each vesting date. Twenty-Four Expected price volatility 22% 21% Risk-free interest rate 1.4% 3.0% Weighted average expected lives (in years) 5.5 5.6 Forfeiture rate 10% 10% Dividend yield 0% 0% During the twenty-four week period ended February 15, 2020, 105,860 stock options were exercised at a weighted average exercise price of $476.60. In the comparable prior year period, 283,210 stock options were exercised at a weighted average exercise price of $390.26. Restricted Stock Units: Restricted stock unit awards are valued at the market price of a share of the Company’s stock on the date of grant. Grants of employee restricted stock units vest ratably on an annual basis over a four-year service period and are payable in shares of common stock on the vesting date. Compensation expense for grants of employee restricted stock units is recognized on a straight-line basis over the four-year service period, less estimated forfeitures, which are consistent with stock option forfeiture assumptions. Grants of non-employee As of February 15, 2020, total unrecognized stock-based compensation expense related to nonvested restricted stock unit awards, net of estimated forfeitures, was approximately $10.9 million, before income taxes, which we expect to recognize over an estimated weighted average period of 3.1 years. Transactions related to restricted stock units for the twenty-four weeks ended February 15, 2020 were as follows: Number Weighted-Average Grant Date Fair Value Nonvested at August 31, 2019 10,049 773.61 Granted 8,735 1,086.61 Vested (4,183 ) 945.58 Canceled or forfeited (165 ) 929.33 Nonvested at February 15, 2020 14,436 911.39 Total share-based compensation expense (a component of Operating, selling, general and administrative expenses) was $12.1 million for the twelve week period ended February 15, 2020, and $11.0 million for the comparable prior year period. Total share-based compensation expense was $22.1 million for the twenty-four week period ended February 15, 2020, and $21.6 million for the comparable prior year period. For the twelve week period ended February 15, 2020, 188,486 stock options were excluded from the diluted earnings per share computation because they would have been anti-dilutive. For the comparable prior year period, 170,069 anti-dilutive shares were excluded from the dilutive earnings per share computation. There were 147,998 anti-dilutive shares excluded from the diluted earnings per share computation for the twenty-four week period ended February 15, 2020, and 188,999 anti-dilutive shares excluded for the comparable prior year period. See AutoZone’s Annual Report on Form 10-K

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Feb. 15, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note C – Fair Value Measurements The Company defines fair value as the price received to transfer an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. In accordance with ASC 820, Fair Value Measurements and Disclosures Level 1 inputs Level 2 inputs Level 3 inputs Marketable Debt Securities Measured at Fair Value on a Recurring Basis The Company’s assets measured at fair value on a recurring basis were as follows: February 15, 2020 (in thousands) Level 1 Level 2 Level 3 Fair Value Other current assets $ 47,079 $ 872 $ – $ 47,951 Other long-term assets 67,355 9,141 – 76,496 $ 114,434 $ 10,013 $ – $ 124,447 August 31, 2019 (in thousands) Level 1 Level 2 Level 3 Fair Value Other current assets $ 65,344 $ 2,614 $ – $ 67,958 Other long-term assets 65,573 5,395 – 70,968 $ 130,917 $ 8,009 $ – $ 138,926 At February 15, 2020, the fair value measurement amounts for assets and liabilities recorded in the accompanying Condensed Consolidated Balance Sheets consisted of short-term marketable debt securities of $48.0 million, which are included within Other current assets, and long-term marketable debt securities of $76.5 million, which are included in Other long-term assets. The Company’s marketable debt securities are typically valued at the closing price in the principal active market as of the last business day of the quarter or through the use of other market inputs relating to the securities, including benchmark yields and reported trades. The fair values of the marketable debt securities, by asset class, are described in “Note D – Marketable Debt Securities.” Financial Instruments not Recognized at Fair Value The Company has financial instruments, including cash and cash equivalents, accounts receivable, other current assets and accounts payable. The carrying amounts of these financial instruments approximate fair value because of their short maturities. A discussion of the carrying values and fair values of the Company’s debt is included in “Note G – Financing.”

Marketable Debt Securities

Marketable Debt Securities	6 Months Ended
	Feb. 15, 2020
Investments, Debt and Equity Securities [Abstract]
Marketable Debt Securities	Note D – Marketable Debt Securities The Company’s basis for determining the cost of a security sold is the “Specific Identification Model.” Unrealized gains (losses) on marketable debt securities are recorded in Accumulated other comprehensive loss. The Company’s available-for-sale marketable debt securities consisted of the following: February 15, 2020 (in thousands) Amortized Basis Gross Gross Fair Value Corporate debt securities $ 33,784 $ 62 $ – $ 33,846 Government bonds 57,554 662 – 58,216 Mortgage-backed securities 3,414 12 (8 ) 3,418 Asset-backed securities and other 28,956 13 (2 ) 28,967 $ 123,708 $ 749 $ (10 ) $ 124,447 August 31, 2019 (in thousands) Amortized Basis Gross Gross Fair Value Corporate debt securities $ 36,998 $ 29 $ (19 ) $ 37,008 Government bonds 45,741 763 – 46,504 Mortgage-backed securities 2,089 2 (15 ) 2,076 Asset-backed securities and other 53,345 – (7 ) 53,338 $ 138,173 $ 794 $ (41 ) $ 138,926 The debt securities held at February 15, 2020, had effective maturities ranging from less than one year to approximately three years. The Company did not realize any material gains or losses on its marketable debt securities during the twenty-four week period ended February 15, 2020. The Company holds 19 securities that are in an unrealized loss position of approximately $10 thousand at February 15, 2020. The Company has the intent and ability to hold these investments until recovery of fair value or maturity and does not deem the investments to be impaired on an other than temporary basis. In evaluating whether the securities are deemed to be impaired on an other than temporary basis, the Company considers factors such as the duration and severity of the loss position, the credit worthiness of the investee, the term to maturity and the intent and ability to hold the investments until maturity or until recovery of fair value. Included above in total available-for-sale

Derivative Financial Instrument

Derivative Financial Instruments	6 Months Ended
	Feb. 15, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Note E – Derivative Financial Instruments At February 15, 2020, the Company had $4.6 million recorded in Accumulated other comprehensive loss related to realized losses associated with terminated interest rate swap and treasury rate lock derivatives, which were designated as hedging instruments. Net losses are amortized into Interest expense over the remaining life of the associated debt. During the twelve week period ended February 15, 2020, the Company reclassified $508 thousand of net losses from Accumulated other comprehensive loss to Interest expense. During the comparable prior year period, the Company reclassified $509 thousand of net losses from Accumulated other comprehensive loss to Interest expense. During the twenty-four week period ended February 15, 2020 and the comparable prior year period, the Company reclassified $1.0 million of net losses from Accumulated other comprehensive loss to Interest expense. The Company expects to reclassify $1.8 million of net losses from Accumulated other comprehensive loss to Interest expense over the next 12 months.

Merchandise Inventories

Merchandise Inventories	6 Months Ended
	Feb. 15, 2020
Inventory Disclosure [Abstract]
Merchandise Inventories	Note F – Merchandise Inventories Merchandise inventories are stated at the lower of cost or market. Merchandise inventories include related purchasing, storage and handling costs. Inventory cost has been determined using the last-in, first-out

Financing

Financing	6 Months Ended
	Feb. 15, 2020
Debt Disclosure [Abstract]
Financing	Note G – Financing The Company’s long-term debt consisted of the following: (in thousands) February 15, 2020 August 31, 4.000% Senior Notes due November 2020, effective interest rate of 4.43% $ 500,000 $ 500,000 2.500% Senior Notes due April 2021, effective interest rate of 2.62% 250,000 250,000 3.700% Senior Notes due April 2022, effective interest rate of 3.85% 500,000 500,000 2.875% Senior Notes due January 2023, effective interest rate of 3.21% 300,000 300,000 3.125% Senior Notes due July 2023, effective interest rate of 3.26% 500,000 500,000 3.125% Senior Notes due April 2024, effective interest rate 3.32% 300,000 300,000 3.250% Senior Notes due April 2025, effective interest rate 3.36% 400,000 400,000 3.125% Senior Notes due April 2026, effective interest rate of 3.28% 400,000 400,000 3.750% Senior Notes due June 2027, effective interest rate of 3.83% 600,000 600,000 3.750% Senior Notes due April 2029, effective interest rate of 3.86% 450,000 450,000 Commercial paper, weighted average interest rate of 1.72% and 2.28% at February 15, 2020 and August 31, 2019, respectively 1,272,700 1,030,000 Total debt before discounts and debt issuance costs 5,472,700 5,230,000 Less: Discounts and debt issuance costs 21,229 23,656 Long-term debt $ 5,451,471 $ 5,206,344 As of February 15, 2020, the commercial paper borrowings and the $500 million 4.000% Senior Notes due November 2020 are classified as long-term in the accompanying Consolidated Balance Sheets as the Company has the ability and intent to refinance them on a long-term basis through available capacity in its revolving credit facility. As of February 15, 2020, the Company had $1.997 billion of availability under its $2.0 billion revolving credit facility, which would allow it to replace these short-term obligations with long-term financing facilities. The Company entered into a Master Extension, New Commitment and Amendment Agreement dated as of November 18, 2017 (the “Extension Amendment”) to the Third Amended and Restated Credit Agreement dated as of November 18, 2016, as amended, modified, extended or restated from time to time (the “Revolving Credit Agreement”). Under the Extension Amendment: (i) the Company’s borrowing capacity under the Revolving Credit Agreement was increased from $1.6 billion to $2.0 billion; (ii) the Company’s option to increase its borrowing capacity under the Revolving Credit Agreement was “refreshed” and the amount of such option remained at $400 million; (iii) the maximum borrowing under the Revolving Credit Agreement may, at the Company’s option, subject to lenders approval, be increased from $2.0 billion to $2.4 billion; (iv) the termination date of the Revolving Credit Agreement was extended from November 18, 2021 until November 18, 2022; and (v) the Company has the option to make one (non-credit The fair value of the Company’s debt was estimated at $5.678 billion as of February 15, 2020, and $5.419 billion as of August 31, 2019, based on the quoted market prices for the same or similar issues or on the current rates available to the Company for debt of the same terms (Level 2). Such fair value is greater All senior notes are subject to an interest rate adjustment if the debt ratings assigned to the senior notes are downgraded (as defined in the agreements). Further, the senior notes contain a provision that repayment of the senior notes may be accelerated if the Company experiences a change in control (as defined in the agreements). The Company’s borrowings under its senior notes contain minimal covenants, primarily restrictions on liens. Under its revolving credit facilities, covenants include restrictions on liens, a maximum debt to earnings ratio, a minimum fixed charge coverage ratio and a change of control provision that may require acceleration of the repayment obligations under certain circumstances. All of the repayment obligations under its borrowing arrangements may be accelerated and come due prior to the scheduled payment date if covenants are breached or an event of default occurs. As of February 15, 2020, the Company was in compliance with all covenants and expects to remain in compliance with all covenants under its borrowing arrangements.

Stock Repurchase Program

Stock Repurchase Program	6 Months Ended
	Feb. 15, 2020
Equity [Abstract]
Stock Repurchase Program	Note H – Stock Repurchase Program From January 1, 1998 to February 15, 2020, the Company has repurchased a total of 147.5 million shares of its common stock at an aggregate cost of $22.188 billion, including 669,967 shares of its common stock at an aggregate cost of $764.8 million during the twenty-four week period ended February 15, 2020. On October 7, 2019, the Board voted to increase the repurchase authorization by $1.25 billion. This raised the total value of shares authorized to be repurchased to $23.15 billion. Considering the cumulative repurchases as of February 15, 2020, the Company had $961.9 million remaining under the Board’s authorization to repurchase its common stock. During the twenty-four week period ended February 15, 2020, the Company retired 1.9 million shares of treasury stock which had previously been repurchased under the Company’s share repurchase program. The retirement increased Retained deficit by $1.879 billion and decreased Additional paid-in paid-in Subsequent to February 15, 2020, the Company has repurchased 156,035 $166.1

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	6 Months Ended
	Feb. 15, 2020
Equity [Abstract]
Accumulated Other Comprehensive Loss	Note I – Accumulated Other Comprehensive Loss Accumulated available-for-sale (in thousands) Foreign (2) Net Unrealized Derivatives Total Balance at November 23, 2019 $ (246,558 ) $ 403 $ (3,926 ) $ (250,081 ) Other comprehensive income before reclassifications (1) 21,178 180 – 21,358 Amounts reclassified from Accumulated other comprehensive (loss) ( 1 ) – (2 ) 388 (3) 386 Balance at February 15, 2020 $ (225,380 ) $ 581 $ (3,538 ) $ (228,337 ) (in thousands) Foreign (2) Net Unrealized Derivatives Total Balance at November 17, 2018 $ (269,472 ) $ (950 ) $ (5,644 ) $ (276,066 ) Other comprehensive income before reclassifications (1) 39,332 507 – 39,839 Amounts reclassified from Accumulated other comprehensive income ( 1 ) – 1 389 (3) 390 Balance at February 9, 2019 $ (230,140 ) $ (442 ) $ (5,255 ) $ (235,837 ) (1) Amounts in parentheses indicate debits to Accumulated other comprehensive loss. (2) Foreign currency is shown net of U.S. tax to account for foreign currency impacts of certain undistributed non-U.S. non-U.S. (3) Represents gains on derivatives, net of taxes of $120 for the twelve weeks ended February 15, 2020 and February 9, 2019, which is recorded in Interest expense, net, on the Condensed Consolidated Statements of Income. See “Note E – Derivative Financial Instruments” for further discussion. Changes in Accumulated other comprehensive loss for the twenty-four week periods ended February 15, 2020 and February 9, 2019 consisted of the following: (in th ousands) Foreign (2) Net Derivatives Total Balance at August 31, 2019 $ (265,598 ) $ 591 $ (4,315 ) $ (269,322 ) Other comprehensive income (loss) before reclassifications (1) 40,218 (53 ) – 40,165 Amounts reclassified from Accumulated other comprehensive income (loss) (1) – 43 (3) 777 (4) 820 Balance at February 15, 2020 $ (225,380 ) $ 581 $ (3,538 ) $ (228,337 ) (in th ousands) Foreign (2) Net Derivatives Total Balance at August 25, 2018 $ (228,899 ) $ (873 ) $ (6,033 ) $ (235,805 ) Other comprehensive income (loss) before reclassifications (1) (1,241 ) 430 – (811 ) Amounts reclassified from Accumulated other comprehensive (loss) (1) – 1 778 (4) 779 Balance at February 9, 2019 $ (230,140 ) $ (442 ) $ (5,255 ) $ (235,837 ) (1) Amounts in parentheses indicate debits to Accumulated other comprehensive loss. (2) Foreign currency is shown net of U.S. tax to account for foreign currency impacts of certain undistributed non-U.S. non-U.S. (3) Represents realized losses on marketable debt securities, net of tax benefit of $12 for the twenty-four weeks ended February 15, 2020, which is recorded in Operating, selling general and administrative expenses on the Condensed Consolidated Statements of Income. See “Note D – Marketable Debt Securities” for further discussion. (4) Represents gains on derivatives, net of taxes of $240 for the twenty-four weeks ended February 15, 2020 and February 9, 2019, which is recorded in Interest expense, net, on the Condensed Consolidated Statements of Income. See “Note E – Derivative Financial Instruments” for further discussion.

Goodwill and Intangibles

Goodwill and Intangibles	6 Months Ended
	Feb. 15, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangibles	Note J – Goodwill and Intangibles As of February 15, 2020, there were no changes to the carrying amount of goodwill as described in our Annual Report on Form 10-K The carrying amounts of intangible assets are included in Other long-term assets as follows: (in thousands) Estimated Gross Accumulated Net Carrying Amortizing intangible assets: Technology 3-5 $ 870 $ (870 ) $ – Customer relationships 3-10 29,376 (25,685 ) 3,691 Total intangible assets other than goodwill $ 30,246 $ (26,555 ) $ 3,691 Amortization expense of intangible assets for the twelve and twenty-four week periods ended February 15, 2020 and February 9, 2019 were $1.0 million and $1.9 million, respectively.

Litigation

Litigation	6 Months Ended
	Feb. 15, 2020
Commitments and Contingencies Disclosure [Abstract]
Litigation	Note K – Litigation The Company is involved in various legal proceedings incidental to the conduct of its business, including, but not limited to, several lawsuits containing class-action allegations in which the plaintiffs are current and former hourly and salaried employees who allege various wage and hour violations and unlawful termination practices. While the resolution of these matters cannot be predicted with certainty, management does not currently believe that, either individually or in the aggregate, these matters will result in liabilities material to the Company’s Condensed Consolidated Statements of Income, Condensed Consolidated Balance Sheets or Condensed Consolidated Statements of Cash Flows.

Leases

Leases	6 Months Ended
	Feb. 15, 2020
Leases [Abstract]
Leases	Note L – Leases The Company adopted ASU 2016-02, Leases (Topic 842) s non-lease non-lease non-lease right-of-use The Company’s leases primarily relate to its retail stores, distribution centers and vehicles under various non-callable Our finance leases for vehicles have a stated borrowing rate which we use in determining the present value of the lease payments over the lease term. Substantially all our operating leases and finance leases for real estate do not provide a stated borrowing rate. Accordingly, we use the Company’s incremental borrowing rate at commencement or modification date in determining the present value of lease payments over the lease term. For operating leases that commenced prior to the date of adoption of the new standard, the Company used the incremental borrowing rate that corresponded to the remaining lease term as of the date of adoption. Lease-related assets and liabilities recorded on the Condensed Consolidated Balance Sheet are as follows: (in thousands) Classification , 2020 Assets: Operating Operating lease right-of-use $ 2,579,217 Finance Property and equipment 294,449 Total lease assets $ 2,873,666 Liabilities: Current: Operating Current portion of operating lease liabilities $ 234,506 Finance Accrued expenses and other 58,864 Noncurrent: Operating Operating lease liabilities, less current portion 2,494,840 Finance Other long-term liabilities 137,182 Total lease liabilities $ 2,925,392 Accumulated amortization related to f Lease costs for finance and operating leases for the twelve and twenty-four weeks ended February 15, 2020 are as follows: (in thousands) Statement of Income Location Twelve Weeks Ended February 15, 2020 Twenty-Four Weeks Ended February 15, 2020 Finance lease cost: Amortization of lease assets Depreciation and amortization $ 12,872 $ 25,528 Interest on lease liabilities Interest expense, net 1,282 2,667 Operating lease cost (1) Selling, general and administrative expenses 80,396 162,195 Total lease cost $ 94,550 $ 190,390 ( The future rental payments, inclusive of renewal options that have been included in defining the expected lease term, of our operating and finance lease obligations as of February 15, 2020 having initial or remaining lease terms in excess of one year are as follows: (in thousands) Finance Operating Total 2020 $ 30,419 $ 159,455 $ 189,874 2021 61,560 320,472 382,032 2022 48,694 310,948 359,642 2023 33,567 291,256 324,823 2024 11,328 267,176 278,504 Thereafter 39,598 2,232,620 2,272,218 Total lease payments 225,166 3,581,927 3,807,093 Less: Interest (29,120 ) (852,581 ) (881,701 ) Present value of lease liabilities $ 196,046 $ 2,729,346 $ 2,925,392 The following table summarizes the Company’s lease term and discount rate assumptions: February 15, 2020 Weighted-average remaining lease term in years, inclusive of renewal options that are reasonably certain to be exercised Finance leases – real estate 30 Finance leases – vehicles 3 Operating leases 15 Weighted-average discount rate: Finance leases – real estate 3.23% Finance leases – vehicles 2.72% Operating leases 3.55% The following table summarizes the other information related to the Company’s lease liabilities: (in thousands) Twenty-Four Ended February 15, 2020 Cash paid for amounts included in the measurement of lease liabilities – operating cash flows from operating leases 98,021 Leased assets obtained in exchange for new finance lease liabilities 45,582 Leased assets obtained in exchange for new operating lease liabilities 174,038 As of February 15 , 2020 , the Company has entered into additional leases which have not yet commenced and are therefore not part of the right-of-use million and will commence when the Company obtains possession of the underlying leased asset. Commencement dates are expected to be from fiscal 2020 to fiscal 2022 .

Segment Reporting

Segment Reporting	6 Months Ended
	Feb. 15, 2020
Segment Reporting [Abstract]
Segment Reporting	Note M – Segment Reporting The Company’s operating segments (Domestic Auto Parts, Mexico and Brazil) are aggregated as one reportable segment: Auto Parts Stores. The criteria the Company used to identify the reportable segment are primarily the nature of the products the Company sells and the operating results that are regularly reviewed by the Company’s chief operating decision maker to make decisions about the resources to be allocated to the business units and to assess performance. The accounting policies of the Company’s reportable segment are the same as those described in “Note A – Significant Accounting Policies” in its Annual Report on Form 10-K The Auto Parts Stores segment is a retailer and distributor of automotive parts and accessories through the Company’s 6,461 stores in the U.S., Mexico and Brazil. Each store carries an extensive product line for cars, sport utility vehicles, vans and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories and non-automotive The Other category reflects business activities of two operating segments that are not separately reportable due to the materiality of these operating segments. The operating segments include ALLDATA, which produces, sells and maintains diagnostic and repair information software used in the automotive repair industry, and E-commerce, The Company evaluates its reportable segment primarily on the basis of net sales and segment profit, which is defined as gross profit. Segment results for the periods presented were as follows: Twelve Weeks Ended Twenty-Four Weeks Ended (in thousands) February 15, 2020 February 9, 2019 February 15, 2020 February 9, 2019 Net Sales Auto Parts Stores $ 2,464,988 $ 2,402,833 $ 5,208,226 $ 4,996,273 Other 48,675 47,735 98,474 96,029 Total $ 2,513,663 $ 2,450,568 $ 5,306,700 $ 5,092,302 Segment Profit Auto Parts Stores $ 1,331,270 $ 1,291,186 $ 2,797,431 $ 2,674,751 Other 34,793 33,921 69,700 67,830 Gross profit 1,366,063 1,325,107 2,867,131 2,742,581 Operating, selling, general and administrative expenses (958,125 ) (925,087 ) (1,959,170 ) (1,854,742 ) Interest expense, net (44,335 ) (41,362 ) (88,078 ) (80,369 ) Income before income taxes $ 363,603 $ 358,658 $ 819,883 $ 807,470

General (Policies)

General (Policies)	6 Months Ended
	Feb. 15, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Fiscal Period	Operating results for the twelve and twenty-four weeks ended February 15, 2020 are not necessarily indicative of the results that may be expected for the full fiscal year ending August 29, 2020. Each of the first three quarters of AutoZone’s fiscal year consists of 12 weeks, and the fourth quarter consists of 16 or 17 weeks. The fourth quarter of fiscal 2020 has 16 weeks and fiscal 2019 had 17 weeks.
Recently Adopted and Recently Issued Accounting Pronouncements	Recently Adopted Accounting Pronouncements: In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-02, Leases (Topic 842) two-fold right-of-use 2016-02 . The Company adopted this standard and its amendments as of September 1, 2019, using the modified retrospective transition method. Under this method, existing leases were recorded at the adoption date, comparative periods were not restated and prior period amounts were not adjusted and continue to be reported under the accounting standards in effect for the prior periods. In addition, the Company elected the package of practical expedients permitted under the transition guidance within the new standard, which among other things, allowed the carry forward of prior lease identification under Accounting Standards Codification (“ASC”) Topic 840. The Company made the accounting policy election for short-term leases resulting in lease payments being recorded as an expense on a straight-line basis over the lease term. The Company also elected the practical expedient to not separate lease components from the non-lease right-of-use right-of-use s L In June 2018, the FASB issued ASU 2018-07, Compensation – Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting 2018-07 2018-07 Recently Issued Accounting Pronouncements: In August 2018, the FASB issued ASU 2018-15, Intangibles – Goodwill and Other Internal Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract internal-use 2018-15 In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments 2018-19, Codification Improvements to Topic 326, Financial Instruments Credit Losses 2016-13 Further, the new credit loss model will affect how entities estimate their allowance for loss receivables that are current with respect to their payment terms. ASU 2016-13 with s s

Share-Based Payments (Tables)

Share-Based Payments (Tables)	6 Months Ended
	Feb. 15, 2020
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Weighted Average for Key Assumptions Used in Determining Fair Value of Options Granted and Related Share-Based Compensation Expense	The weighted average fair value of the stock option awards granted during the twenty-four week periods ended February 15, 2020 and February 9, 2019, using the Black-Scholes-Merton multiple-option pricing valuation model, was $252.39 and $208.33 per share, respectively, using the following weighted average key assumptions: Twenty-Four Expected price volatility 22% 21% Risk-free interest rate 1.4% 3.0% Weighted average expected lives (in years) 5.5 5.6 Forfeiture rate 10% 10% Dividend yield 0% 0%
Schedule of Nonvested Restricted Stock Units Activity	Transactions related to restricted stock units for the twenty-four weeks ended February 15, 2020 were as follows: Number Weighted-Average Grant Date Fair Value Nonvested at August 31, 2019 10,049 773.61 Granted 8,735 1,086.61 Vested (4,183 ) 945.58 Canceled or forfeited (165 ) 929.33 Nonvested at February 15, 2020 14,436 911.39

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Feb. 15, 2020
Fair Value Disclosures [Abstract]
Company's marketable debt securities measured at Fair Value on Recurring Basis	The Company’s assets measured at fair value on a recurring basis were as follows: February 15, 2020 (in thousands) Level 1 Level 2 Level 3 Fair Value Other current assets $ 47,079 $ 872 $ – $ 47,951 Other long-term assets 67,355 9,141 – 76,496 $ 114,434 $ 10,013 $ – $ 124,447 August 31, 2019 (in thousands) Level 1 Level 2 Level 3 Fair Value Other current assets $ 65,344 $ 2,614 $ – $ 67,958 Other long-term assets 65,573 5,395 – 70,968 $ 130,917 $ 8,009 $ – $ 138,926

Marketable Debt Securities (Tab

Marketable Debt Securities (Tables)	6 Months Ended
	Feb. 15, 2020
Investments, Debt and Equity Securities [Abstract]
Available-for-Sale Marketable Securities	The Company’s available-for-sale marketable debt securities consisted of the following: February 15, 2020 (in thousands) Amortized Basis Gross Gross Fair Value Corporate debt securities $ 33,784 $ 62 $ – $ 33,846 Government bonds 57,554 662 – 58,216 Mortgage-backed securities 3,414 12 (8 ) 3,418 Asset-backed securities and other 28,956 13 (2 ) 28,967 $ 123,708 $ 749 $ (10 ) $ 124,447 August 31, 2019 (in thousands) Amortized Basis Gross Gross Fair Value Corporate debt securities $ 36,998 $ 29 $ (19 ) $ 37,008 Government bonds 45,741 763 – 46,504 Mortgage-backed securities 2,089 2 (15 ) 2,076 Asset-backed securities and other 53,345 – (7 ) 53,338 $ 138,173 $ 794 $ (41 ) $ 138,926

Financing (Tables)

Financing (Tables)	6 Months Ended
	Feb. 15, 2020
Debt Disclosure [Abstract]
Schedule of Debt	The Company’s long-term debt consisted of the following: (in thousands) February 15, 2020 August 31, 4.000% Senior Notes due November 2020, effective interest rate of 4.43% $ 500,000 $ 500,000 2.500% Senior Notes due April 2021, effective interest rate of 2.62% 250,000 250,000 3.700% Senior Notes due April 2022, effective interest rate of 3.85% 500,000 500,000 2.875% Senior Notes due January 2023, effective interest rate of 3.21% 300,000 300,000 3.125% Senior Notes due July 2023, effective interest rate of 3.26% 500,000 500,000 3.125% Senior Notes due April 2024, effective interest rate 3.32% 300,000 300,000 3.250% Senior Notes due April 2025, effective interest rate 3.36% 400,000 400,000 3.125% Senior Notes due April 2026, effective interest rate of 3.28% 400,000 400,000 3.750% Senior Notes due June 2027, effective interest rate of 3.83% 600,000 600,000 3.750% Senior Notes due April 2029, effective interest rate of 3.86% 450,000 450,000 Commercial paper, weighted average interest rate of 1.72% and 2.28% at February 15, 2020 and August 31, 2019, respectively 1,272,700 1,030,000 Total debt before discounts and debt issuance costs 5,472,700 5,230,000 Less: Discounts and debt issuance costs 21,229 23,656 Long-term debt $ 5,451,471 $ 5,206,344

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Feb. 15, 2020
Equity [Abstract]
Changes in Accumulated Other Comprehensive Loss	Changes in Accumulated other comprehensive loss for the twelve week periods ended February 15, 2020 and February 9, 2019 consisted of the following: (in thousands) Foreign (2) Net Unrealized Derivatives Total Balance at November 23, 2019 $ (246,558 ) $ 403 $ (3,926 ) $ (250,081 ) Other comprehensive income before reclassifications (1) 21,178 180 – 21,358 Amounts reclassified from Accumulated other comprehensive (loss) ( 1 ) – (2 ) 388 (3) 386 Balance at February 15, 2020 $ (225,380 ) $ 581 $ (3,538 ) $ (228,337 ) (in thousands) Foreign (2) Net Unrealized Derivatives Total Balance at November 17, 2018 $ (269,472 ) $ (950 ) $ (5,644 ) $ (276,066 ) Other comprehensive income before reclassifications (1) 39,332 507 – 39,839 Amounts reclassified from Accumulated other comprehensive income ( 1 ) – 1 389 (3) 390 Balance at February 9, 2019 $ (230,140 ) $ (442 ) $ (5,255 ) $ (235,837 ) (1) Amounts in parentheses indicate debits to Accumulated other comprehensive loss. (2) Foreign currency is shown net of U.S. tax to account for foreign currency impacts of certain undistributed non-U.S. non-U.S. (3) Represents gains on derivatives, net of taxes of $120 for the twelve weeks ended February 15, 2020 and February 9, 2019, which is recorded in Interest expense, net, on the Condensed Consolidated Statements of Income. See “Note E – Derivative Financial Instruments” for further discussion. Changes in Accumulated other comprehensive loss for the twenty-four week periods ended February 15, 2020 and February 9, 2019 consisted of the following: (in th ousands) Foreign (2) Net Derivatives Total Balance at August 31, 2019 $ (265,598 ) $ 591 $ (4,315 ) $ (269,322 ) Other comprehensive income (loss) before reclassifications (1) 40,218 (53 ) – 40,165 Amounts reclassified from Accumulated other comprehensive income (loss) (1) – 43 (3) 777 (4) 820 Balance at February 15, 2020 $ (225,380 ) $ 581 $ (3,538 ) $ (228,337 ) (in th ousands) Foreign (2) Net Derivatives Total Balance at August 25, 2018 $ (228,899 ) $ (873 ) $ (6,033 ) $ (235,805 ) Other comprehensive income (loss) before reclassifications (1) (1,241 ) 430 – (811 ) Amounts reclassified from Accumulated other comprehensive (loss) (1) – 1 778 (4) 779 Balance at February 9, 2019 $ (230,140 ) $ (442 ) $ (5,255 ) $ (235,837 ) (1) Amounts in parentheses indicate debits to Accumulated other comprehensive loss. (2) Foreign currency is shown net of U.S. tax to account for foreign currency impacts of certain undistributed non-U.S. non-U.S. (3) Represents realized losses on marketable debt securities, net of tax benefit of $12 for the twenty-four weeks ended February 15, 2020, which is recorded in Operating, selling general and administrative expenses on the Condensed Consolidated Statements of Income. See “Note D – Marketable Debt Securities” for further discussion. (4) Represents gains on derivatives, net of taxes of $240 for the twenty-four weeks ended February 15, 2020 and February 9, 2019, which is recorded in Interest expense, net, on the Condensed Consolidated Statements of Income. See “Note E – Derivative Financial Instruments” for further discussion.

Goodwill and Intangibles (Table

Goodwill and Intangibles (Tables)	6 Months Ended
	Feb. 15, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Carrying Amounts of Intangible Assets	The carrying amounts of intangible assets are included in Other long-term assets as follows: (in thousands) Estimated Gross Accumulated Net Carrying Amortizing intangible assets: Technology 3-5 $ 870 $ (870 ) $ – Customer relationships 3-10 29,376 (25,685 ) 3,691 Total intangible assets other than goodwill $ 30,246 $ (26,555 ) $ 3,691

Leases (Tables)

Leases (Tables)	6 Months Ended
	Feb. 15, 2020
Leases [Abstract]
Balance Sheet Information Related To Leases	Lease-related assets and liabilities recorded on the Condensed Consolidated Balance Sheet are as follows: (in thousands) Classification , 2020 Assets: Operating Operating lease right-of-use $ 2,579,217 Finance Property and equipment 294,449 Total lease assets $ 2,873,666 Liabilities: Current: Operating Current portion of operating lease liabilities $ 234,506 Finance Accrued expenses and other 58,864 Noncurrent: Operating Operating lease liabilities, less current portion 2,494,840 Finance Other long-term liabilities 137,182 Total lease liabilities $ 2,925,392
Lease Cost	(in thousands) Statement of Income Location Twelve Weeks Ended February 15, 2020 Twenty-Four Weeks Ended February 15, 2020 Finance lease cost: Amortization of lease assets Depreciation and amortization $ 12,872 $ 25,528 Interest on lease liabilities Interest expense, net 1,282 2,667 Operating lease cost (1) Selling, general and administrative expenses 80,396 162,195 Total lease cost $ 94,550 $ 190,390 (
Summary Of The Future Maturities Of The Company's Lease Liabilities	The future rental payments, inclusive of renewal options that have been included in defining the expected lease term, of our operating and finance lease obligations as of February 15, 2020 having initial or remaining lease terms in excess of one year are as follows: (in thousands) Finance Operating Total 2020 $ 30,419 $ 159,455 $ 189,874 2021 61,560 320,472 382,032 2022 48,694 310,948 359,642 2023 33,567 291,256 324,823 2024 11,328 267,176 278,504 Thereafter 39,598 2,232,620 2,272,218 Total lease payments 225,166 3,581,927 3,807,093 Less: Interest (29,120 ) (852,581 ) (881,701 ) Present value of lease liabilities $ 196,046 $ 2,729,346 $ 2,925,392
Information On Lease Term And Discount Rate	The following table summarizes the Company’s lease term and discount rate assumptions: February 15, 2020 Weighted-average remaining lease term in years, inclusive of renewal options that are reasonably certain to be exercised Finance leases – real estate 30 Finance leases – vehicles 3 Operating leases 15 Weighted-average discount rate: Finance leases – real estate 3.23% Finance leases – vehicles 2.72% Operating leases 3.55%
Other Information Related To Lease Liabilities	The following table summarizes the other information related to the Company’s lease liabilities: (in thousands) Twenty-Four Ended February 15, 2020 Cash paid for amounts included in the measurement of lease liabilities – operating cash flows from operating leases 98,021 Leased assets obtained in exchange for new finance lease liabilities 45,582 Leased assets obtained in exchange for new operating lease liabilities 174,038

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Feb. 15, 2020
Segment Reporting [Abstract]
Segment Results	Twelve Weeks Ended Twenty-Four Weeks Ended (in thousands) February 15, 2020 February 9, 2019 February 15, 2020 February 9, 2019 Net Sales Auto Parts Stores $ 2,464,988 $ 2,402,833 $ 5,208,226 $ 4,996,273 Other 48,675 47,735 98,474 96,029 Total $ 2,513,663 $ 2,450,568 $ 5,306,700 $ 5,092,302 Segment Profit Auto Parts Stores $ 1,331,270 $ 1,291,186 $ 2,797,431 $ 2,674,751 Other 34,793 33,921 69,700 67,830 Gross profit 1,366,063 1,325,107 2,867,131 2,742,581 Operating, selling, general and administrative expenses (958,125 ) (925,087 ) (1,959,170 ) (1,854,742 ) Interest expense, net (44,335 ) (41,362 ) (88,078 ) (80,369 ) Income before income taxes $ 363,603 $ 358,658 $ 819,883 $ 807,470

General - Additional Informatio

General - Additional Information (Detail) - USD ($) $ in Thousands	Feb. 15, 2020	Sep. 01, 2019	Aug. 31, 2019
Lease Right Of Use Assets	$ 2,579,217		$ 0
Lease Liabilities	$ 2,729,346
Accounting Standards Update 2016-02 [Member]
Lease Right Of Use Assets		$ 2,500,000
Lease Liabilities		$ 2,700,000

Share-Based Payments - Weighted

Share-Based Payments - Weighted Average for Key Assumptions Used in Determining Fair Value of Options Granted and Related Share-Based Compensation Expense (Detail)	5 Months Ended	6 Months Ended
	Feb. 09, 2019	Feb. 15, 2020
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Expected price volatility	21.00%	22.00%
Risk-free interest rates	3.00%	1.40%
Weighted average expected lives (in years)	5 years 7 months 6 days	5 years 6 months
Forfeiture rate	10.00%	10.00%
Dividend yield	0.00%	0.00%

Share-Based Payments - Schedule

Share-Based Payments - Schedule of Nonvested Restricted Stock Units Activity (Detail)	6 Months Ended
	Feb. 15, 2020$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested, Beginning balance, Number of Shares | shares	10,049
Granted, Number of Shares | shares	8,735
Vested, Number of Shares | shares	(4,183)
Canceled or forfeited, Number of Shares | shares	(165)
Nonvested, Ending balance, Number of Shares | shares	14,436
Nonvested, Beginning balance, Weighted Average Exercise Price | $ / shares	$ 773.61
Granted, Weighted Average Exercise Price | $ / shares	1,086.61
Vested, Weighted Average Exercise Price | $ / shares	945.58
Canceled or forfeited, Weighted Average Exercise Price | $ / shares	929.33
Nonvested, Ending balance, Weighted Average Exercise Price | $ / shares	$ 911.39

Share-Based Payments - Addition

Share-Based Payments - Additional Information (Detail) - USD ($)	3 Months Ended		5 Months Ended	6 Months Ended
	Feb. 15, 2020	Feb. 09, 2019	Feb. 09, 2019	Feb. 15, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value of options granted			$ 208.33	$ 252.39
Stock options granted			172,588	188,324
Stock options exercised - Shares			283,210	105,860
Stock options exercised - Weighted average exercise price			$ 390.26	$ 476.60
Share-based compensation expense	$ 12,100,000	$ 11,000,000	$ 21,600,000	$ 22,100,000
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non vested restricted stock unit award	$ 10,900,000			$ 10,900,000
Estimated weighted average period				3 years 1 month 6 days
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Anti-dilutive shares excluded from the computation of earnings per share	188,486	170,069	188,999	147,998

Fair Value Measurements - Compa

Fair Value Measurements - Company's marketable debt securities measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Feb. 15, 2020	Aug. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	$ 124,447	$ 138,926
Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other current assets	47,951	67,958
Other long-term assets	76,496	70,968
Total	124,447	138,926
Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other current assets	47,079	65,344
Other long-term assets	67,355	65,573
Total	114,434	130,917
Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other current assets	872	2,614
Other long-term assets	9,141	5,395
Total	10,013	8,009
Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other current assets
Other long-term assets
Total

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Feb. 15, 2020	Aug. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term marketable debt securities	$ 47,951	$ 67,958
Long-term marketable debt securities	$ 76,496	$ 70,968

Marketable Debt Securities - Av

Marketable Debt Securities - Available-for-Sale Marketable Securities (Detail) - USD ($) $ in Thousands	Feb. 15, 2020	Aug. 31, 2019
Schedule of Available-for-sale Securities [Line Items]
Available-For-Sale Marketable Securities, Amortized Cost Basis	$ 123,708	$ 138,173
Available-For-Sale Marketable Securities, Gross Unrealized Gains	749	794
Available-For-Sale Marketable Securities, Gross Unrealized Losses	(10)	(41)
Available-For-Sale Marketable Securities, Fair Value	124,447	138,926
Corporate Debt Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-For-Sale Marketable Securities, Amortized Cost Basis	33,784	36,998
Available-For-Sale Marketable Securities, Gross Unrealized Gains	62	29
Available-For-Sale Marketable Securities, Gross Unrealized Losses		(19)
Available-For-Sale Marketable Securities, Fair Value	33,846	37,008
Government Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-For-Sale Marketable Securities, Amortized Cost Basis	57,554	45,741
Available-For-Sale Marketable Securities, Gross Unrealized Gains	662	763
Available-For-Sale Marketable Securities, Gross Unrealized Losses
Available-For-Sale Marketable Securities, Fair Value	58,216	46,504
Mortgage-Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-For-Sale Marketable Securities, Amortized Cost Basis	3,414	2,089
Available-For-Sale Marketable Securities, Gross Unrealized Gains	12	2
Available-For-Sale Marketable Securities, Gross Unrealized Losses	(8)	(15)
Available-For-Sale Marketable Securities, Fair Value	3,418	2,076
Asset-Backed Securities and Other [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-For-Sale Marketable Securities, Amortized Cost Basis	28,956	53,345
Available-For-Sale Marketable Securities, Gross Unrealized Gains	13	0
Available-For-Sale Marketable Securities, Gross Unrealized Losses	(2)	(7)
Available-For-Sale Marketable Securities, Fair Value	$ 28,967	$ 53,338

Marketable Debt Securities - Ad

Marketable Debt Securities - Additional Information (Detail) $ in Thousands	6 Months Ended
	Feb. 15, 2020USD ($)Securities	Aug. 31, 2019USD ($)
Investments, Debt and Equity Securities [Abstract]
Available for sale securities debt maturity period range	less than one year to approximately three years
Number of securities available for sale loss position | Securities	19
Available-For-Sale Marketable Securities, Gross Unrealized Losses	$ 10	$ 41
Marketable securities transferred	$ 29,500

Derivative Financial Instrume_2

Derivative Financial Instruments - Additional Information (Detail) - USD ($) $ in Thousands	5 Months Ended	6 Months Ended
	Feb. 09, 2019	Feb. 15, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative losses recorded in Accumulated other comprehensive loss		$ 4,600
Net derivative losses amortized into Interest expense	$ 509	508
Net derivative loss expected to be reclassified over next 12 months	$ 1,000	$ 1,800

Merchandise Inventories - Addit

Merchandise Inventories - Additional Information (Detail) - USD ($) $ in Millions	Feb. 15, 2020	Aug. 31, 2019
Inventory Disclosure [Abstract]
Unrecorded adjustment for LIFO value in excess of replacement value	$ 354.7	$ 404.9

Financing - Schedule of Debt (D

Financing - Schedule of Debt (Detail) - USD ($) $ in Thousands	Feb. 15, 2020	Aug. 31, 2019
Debt Instrument [Line Items]
Commercial paper	$ 1,272,700	$ 1,030,000
Total debt before discounts and debt issuance costs	5,472,700	5,230,000
Less: Discounts and debt issuance costs	21,229	23,656
Long-term debt	5,451,471	5,206,344
4.000% Senior Notes due November 2020, effective interest rate of 4.43% [Member]
Debt Instrument [Line Items]
Senior notes	500,000	500,000
2.500% Senior Notes due April 2021, effective interest rate of 2.62% [Member]
Debt Instrument [Line Items]
Senior notes	250,000	250,000
3.700% Senior Notes due April 2022, effective interest rate of 3.85% [Member]
Debt Instrument [Line Items]
Senior notes	500,000	500,000
2.875% Senior Notes due January 2023, effective interest rate of 3.21% [Member]
Debt Instrument [Line Items]
Senior notes	300,000	300,000
3.125% Senior Notes due July 2023, effective interest rate of 3.26% [Member]
Debt Instrument [Line Items]
Senior notes	500,000	500,000
3.125% Senior Notes due April 2024, effective interest rate 3.32% [Member]
Debt Instrument [Line Items]
Senior notes	300,000	300,000
3.250% Senior Notes due April 2025, effective interest rate 3.36% [Member]
Debt Instrument [Line Items]
Senior notes	400,000	400,000
3.125% Senior Notes due April 2026, effective interest rate of 3.28% [Member]
Debt Instrument [Line Items]
Senior notes	400,000	400,000
3.750% Senior Notes due June 2027, effective interest rate of 3.83% [Member]
Debt Instrument [Line Items]
Senior notes	600,000	600,000
3.750% Senior Notes due April 2029, effective interest rate of 3.86% [Member]
Debt Instrument [Line Items]
Senior notes	$ 450,000	$ 450,000

Financing - Schedule of Debt (P

Financing - Schedule of Debt (Parenthetical) (Detail)	6 Months Ended	12 Months Ended
	Feb. 15, 2020	Aug. 31, 2019
Commercial paper, weighted average interest rate of 1.72% and 2.28% at February 15, 2020 and August 31, 2019, respectively [Member]
Debt Instrument [Line Items]
Weighted average interest rate of commercial paper	1.72%	2.28%
4.000% Senior Notes due November 2020, effective interest rate of 4.43% [Member]
Debt Instrument [Line Items]
Stated interest rate percentage	4.00%	4.00%
Effective interest rate	4.43%	4.43%
Debt instrument maturity, month and year	2020-11	2020-11
2.500% Senior Notes due April 2021, effective interest rate of 2.62% [Member]
Debt Instrument [Line Items]
Stated interest rate percentage	2.50%	2.50%
Effective interest rate	2.62%	2.62%
Debt instrument maturity, month and year	2021-04	2021-04
3.700% Senior Notes due April 2022, effective interest rate of 3.85% [Member]
Debt Instrument [Line Items]
Stated interest rate percentage	3.70%	3.70%
Effective interest rate	3.85%	3.85%
Debt instrument maturity, month and year	2022-04	2022-04
2.875% Senior Notes due January 2023, effective interest rate of 3.21% [Member]
Debt Instrument [Line Items]
Stated interest rate percentage	2.875%	2.875%
Effective interest rate	3.21%	3.21%
Debt instrument maturity, month and year	2023-01	2023-01
3.125% Senior Notes due July 2023, effective interest rate of 3.26% [Member]
Debt Instrument [Line Items]
Stated interest rate percentage	3.125%	3.125%
Effective interest rate	3.26%	3.26%
Debt instrument maturity, month and year	2023-07	2023-07
3.125% Senior Notes due April 2024, effective interest rate 3.32% [Member]
Debt Instrument [Line Items]
Stated interest rate percentage	3.125%	3.125%
Effective interest rate	3.32%	3.32%
Debt instrument maturity, month and year	2024-04	2024-04
3.250% Senior Notes due April 2025, effective interest rate 3.36% [Member]
Debt Instrument [Line Items]
Stated interest rate percentage	3.25%	3.25%
Effective interest rate	3.36%	3.36%
Debt instrument maturity, month and year	2025-04	2025-04
3.125% Senior Notes due April 2026, effective interest rate of 3.28% [Member]
Debt Instrument [Line Items]
Stated interest rate percentage	3.125%	3.125%
Effective interest rate	3.28%	3.28%
Debt instrument maturity, month and year	2026-04	2026-04
3.750% Senior Notes due June 2027, effective interest rate of 3.83% [Member]
Debt Instrument [Line Items]
Stated interest rate percentage	3.75%	3.75%
Effective interest rate	3.83%	3.83%
Debt instrument maturity, month and year	2027-06	2027-06
3.750% Senior Notes due April 2029, effective interest rate of 3.86% [Member]
Debt Instrument [Line Items]
Stated interest rate percentage	3.75%	3.75%
Effective interest rate	3.86%	3.86%
Debt instrument maturity, month and year	2029-04	2029-04

Financing - Additional Informat

Financing - Additional Information (Detail) - USD ($)	6 Months Ended
	Feb. 15, 2020	Aug. 31, 2019
Debt Instrument [Line Items]
Remaining borrowing capacity under revolving credit facility	$ 1,997,000,000
Amount available under credit facility	$ 2,000,000,000
Extended expiration of credit facility	1 year
Fair value of the Company's debt	$ 5,678,000,000	$ 5,419,000,000
Excess (shortfall) of fair value of debt over (from) carrying value	226,600,000	212,700,000
Third Amended and Restated Credit Agreement [Member]
Debt Instrument [Line Items]
Amount available under credit facility	1,600,000,000
Master Extension Agreement [Member]
Debt Instrument [Line Items]
Amount available under credit facility	2,000,000,000
Revolving credit agreement, available additional borrowing capacity	400,000,000
Maximum amount available under credit facility	$ 2,400,000,000
Credit Agreement description	Under the Revolving Credit Agreement, the Company may borrow funds consisting of Eurodollar loans, base rate loans or a combination of both. Interest accrues on Eurodollar loans at a defined Eurodollar rate, defined as LIBOR plus the applicable percentage, as defined in the Revolving Credit Agreement, depending upon the Company’s senior, unsecured, (non-credit enhanced) long-term debt ratings. Interest accrues on base rate loans as defined in the Revolving Credit Agreement. As of February 15, 2020, the Company had $3.2 million of outstanding letters of credit under the Revolving Credit Agreement.
Letters of credit, outstanding	$ 3,200,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Remaining borrowing capacity under revolving credit facility	2,000,000,000
4.000% Senior Notes due November 2020, effective interest rate of 4.43% [Member]
Debt Instrument [Line Items]
Long-term debt	$ 500,000,000	$ 500,000,000
Stated interest rate percentage	4.00%	4.00%

Stock Repurchase Program - Addi

Stock Repurchase Program - Additional Information (Detail) - USD ($)	Oct. 07, 2019	Mar. 13, 2020	Feb. 15, 2020	Feb. 09, 2019	Feb. 09, 2019	Feb. 15, 2020	Feb. 15, 2020
Equity, Class of Treasury Stock [Line Items]
Stock repurchased cumulative, shares			267,000	422,000	1,076,000	669,967	147,500,000
Purchase of treasury stock					$ 847,097,000	$ 764,846,000	$ 22,188,000,000
Increase in authorization of stock repurchase, value	$ 1,250,000,000
Stock repurchase authorized	$ 23,150,000,000
Remaining value authorized for share repurchases			$ 961,900,000			961,900,000	$ 961,900,000
Retirement of treasury shares			0	$ 0	0	0
Retained Deficit [Member]
Equity, Class of Treasury Stock [Line Items]
Retirement of treasury shares			1,878,595,000	1,706,972,000	1,706,972,000	1,878,595,000
Additional Paid-In Capital [Member]
Equity, Class of Treasury Stock [Line Items]
Retirement of treasury shares			$ 99,686,000	$ 125,442,000	$ 125,442,000	$ 99,686,000
Common Stock [Member]
Equity, Class of Treasury Stock [Line Items]
Share of treasury stock retired			1,912,000	2,563,000	2,563,000	1,912,000
Retirement of treasury shares			$ 19,000	$ 26,000	$ 26,000	$ 19,000
Subsequent Events [Member]
Equity, Class of Treasury Stock [Line Items]
Stock repurchased cumulative, shares		156,035
Purchase of treasury stock		$ 166,100,000

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss - Changes in Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands	3 Months Ended		5 Months Ended	6 Months Ended
	Feb. 15, 2020	Feb. 09, 2019	Feb. 09, 2019	Feb. 15, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	$ (1,776,090)	$ (1,658,616)	$ (1,520,355)	$ (1,713,851)
Balance	(1,711,119)	(1,594,362)	(1,594,362)	(1,711,119)
Foreign Currency and Other [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(246,558)	(269,472)	(228,899)	(265,598)
Other comprehensive income (loss) before reclassifications	21,178	39,332	(1,241)	40,218
Amounts reclassified from Accumulated other comprehensive income (loss)
Balance	(225,380)	(230,140)	(230,140)	(225,380)
Net Unrealized Gain (Loss) on Securities [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	403	(950)	(873)	591
Other comprehensive income (loss) before reclassifications	180	507	430	(53)
Amounts reclassified from Accumulated other comprehensive income (loss)	(2)	1	1	43
Balance	581	(442)	(442)	581
Derivatives [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(3,926)	(5,644)	(6,033)	(4,315)
Other comprehensive income (loss) before reclassifications
Amounts reclassified from Accumulated other comprehensive income (loss)	388	389	778	777
Balance	(3,538)	(5,255)	(5,255)	(3,538)
Accumulated Other Comprehensive Loss [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(250,081)	(276,066)	(235,805)	(269,322)
Other comprehensive income (loss) before reclassifications	21,358	39,839	(811)	40,165
Amounts reclassified from Accumulated other comprehensive income (loss)	386	390	779	820
Balance	$ (228,337)	$ (235,837)	$ (235,837)	$ (228,337)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss - Changes in Accumulated Other Comprehensive Loss (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended		5 Months Ended	6 Months Ended
	Feb. 15, 2020	Feb. 09, 2019	Feb. 09, 2019	Feb. 15, 2020
Net Unrealized Gain (Loss) on Securities [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Unrealized gains (losses) on marketable securities, taxes				$ 12
Derivatives [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net derivative activities, taxes	$ 120	$ 120	$ 240	$ 240

Goodwill and Intangibles - Addi

Goodwill and Intangibles - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		5 Months Ended	6 Months Ended
	Feb. 15, 2020	Feb. 09, 2019	Feb. 09, 2019	Feb. 15, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense of intangible assets	$ 1	$ 1	$ 1.9	$ 1.9

Goodwill and Intangibles - Sche

Goodwill and Intangibles - Schedule of Carrying Amounts of Intangible Assets (Detail) $ in Thousands	6 Months Ended
	Feb. 15, 2020USD ($)
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Finite Lived, Gross Carrying Amount	$ 30,246
Finite Lived, Accumulated Amortization	(26,555)
Finite Lived, Net Carrying Amount	3,691
Technology [Member]
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Finite Lived, Gross Carrying Amount	870
Finite Lived, Accumulated Amortization	(870)
Finite Lived, Net Carrying Amount	$ 0
Technology [Member] | Minimum [Member]
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Estimated Useful Life	3 years
Technology [Member] | Maximum [Member]
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Estimated Useful Life	5 years
Customer Relationships [Member]
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Finite Lived, Gross Carrying Amount	$ 29,376
Finite Lived, Accumulated Amortization	(25,685)
Finite Lived, Net Carrying Amount	$ 3,691
Customer Relationships [Member] | Minimum [Member]
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Estimated Useful Life	3 years
Customer Relationships [Member] | Maximum [Member]
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Estimated Useful Life	10 years

Leases - Additional Information

Leases - Additional Information (Detail) $ in Millions	6 Months Ended
	Feb. 15, 2020USD ($)
Renewal Options And Lease term	The leases have varying terms and expire at various dates through 2040. Retail leases typically have initial terms of between one and 20 years, with one to six optional renewal periods of one to five years each.
Lease Accumulated Amortization	$ 93.4
Additional leases not yet commenced, undiscounted future payments	$ 31.1
Minimum [Member]
Operating lease commencement date	2020
Maximum [Member]
Operating lease commencement date	2022

Lease - Summary of Lease-relate

Lease - Summary of Lease-related assets and liabilities recorded on the Condensed Consolidated Balance Sheet (Detail) - USD ($) $ in Thousands	Feb. 15, 2020	Aug. 31, 2019
Assets
Operating	$ 2,579,217	$ 0
Total lease assets	2,873,666
Current
Operating	234,506	0
Noncurrent
Operating	2,494,840	$ 0
Total lease liabilities	2,925,392
Operating lease right-of-use assets
Assets
Operating	2,579,217
Property And Equipment
Assets
Finance	294,449
Current portion of operating lease liablities
Current
Operating	234,506
Accrued expenses and other
Current
Finance	58,864
Operating lease liabilities, less current portion
Noncurrent
Operating	2,494,840
Other long-term liabilities
Noncurrent
Finance	$ 137,182

Leases - Lease Cost (Detail)

Leases - Lease Cost (Detail) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Feb. 15, 2020	Feb. 15, 2020
Amortization of lease assets		$ 93,400
Total lease cost	$ 94,550	190,390
Depreciation and amortization
Amortization of lease assets	12,872	25,528
Interest expense, net
Interest on lease liabilities	1,282	2,667
Selling, general and administrative expenses
Operating lease cost	$ 80,396	$ 162,195

Leases - Summary Of The Future

Leases - Summary Of The Future Maturities Of The Company's Lease Liabilities (Detail) $ in Thousands	Feb. 15, 2020USD ($)
Leases [Abstract]
2020	$ 30,419
2021	61,560
2022	48,694
2023	33,567
2024	11,328
Thereafter	39,598
Total Lease Payments	225,166
Less: Interest	(29,120)
Present value of lease liabilities	196,046
2020	159,455
2021	320,472
2022	310,948
2023	291,256
2024	267,176
Thereafter	2,232,620
Total Lease Payments	3,581,927
Less: Interest	(852,581)
Present value of lease liabilities	2,729,346
2020	189,874
2021	382,032
2022	359,642
2023	324,823
2024	278,504
Thereafter	2,272,218
Total Lease Payments	3,807,093
Less: Interest	(881,701)
Present value of lease liabilities	$ 2,925,392

Leases - Information On Lease T

Leases - Information On Lease Term And Discount Rate (Detail)	6 Months Ended
	Feb. 15, 2020
Weighted-average remaining lease term (years)
Finance leases – real estate	30 years
Finance leases – vehicles	3 years
Operating leases	15 years
Weighted-average discount rate:
Finance leases – real estate	3.23%
Finance leases – vehicles	2.72%
Operating leases	3.55%

Leases - Other Information Rela

Leases - Other Information Related To Lease Liabilities (Detail) $ in Thousands	6 Months Ended
	Feb. 15, 2020USD ($)
Cash paid for amounts included in the measurement of lease liabilities:
Cash paid for amounts included in the measurement of lease liabilities – operating cash flows from operating leases	$ 98,021
Leased assets obtained in exchange for new finance lease liabilities	45,582
Leased assets obtained in exchange for new operating lease liabilities	$ 174,038

Segment Reporting - Additional

Segment Reporting - Additional Information (Detail)	6 Months Ended
	Feb. 15, 2020StoreSegments
Segment Reporting [Abstract]
Number of reportable segments | Segments	2
Number of automotive parts and accessories locations in the United States, Puerto Rico, Mexico, and Brazil | Store	6,461

Segment Reporting - Segment Res

Segment Reporting - Segment Results (Detail) - USD ($) $ in Thousands	3 Months Ended		5 Months Ended	6 Months Ended
	Feb. 15, 2020	Feb. 09, 2019	Feb. 09, 2019	Feb. 15, 2020
Segment Reporting Information [Line Items]
Net sales	$ 2,513,663	$ 2,450,568	$ 5,092,302	$ 5,306,700
Gross profit	1,366,063	1,325,107	2,742,581	2,867,131
Operating, selling, general and administrative expenses	(958,125)	(925,087)	(1,854,742)	(1,959,170)
Interest expense, net	(44,335)	(41,362)	(80,369)	(88,078)
Income before income taxes	363,603	358,658	807,470	819,883
Auto Parts Stores [ Member]
Segment Reporting Information [Line Items]
Net sales	2,464,988	2,402,833	4,996,273	5,208,226
Gross profit	1,331,270	1,291,186	2,674,751	2,797,431
Other [Member]
Segment Reporting Information [Line Items]
Net sales	48,675	47,735	96,029	98,474
Gross profit	$ 34,793	$ 33,921	$ 67,830	$ 69,700