Advance Auto Parts, Inc. and Subsidiaries Consolidated Statements of Operations (in thousands, except per share data) Year Ended December 28, 2019 December 29, 2018 December 30, 2017 Net sales 9,709,003 9,580,554 9,373,784 Cost of sales, including purchasing and warehousing costs 5,454,257 5,361,141 5,288,735 Gross profit 4,254,746 4,219,413 4,085,049 Selling, general and administrative expenses 3,577,566 3,615,138 3,514,837 Operating income 677,180 604,275 570,212 Other, net: Interest expense (39,898) (56,588) (58,801) Other income, net 464 7,577 8,848 Total other, net (39,434) (49,011) (49,953) Income before provision for income taxes 637,746 555,264 520,259 Provision for income taxes 150,850 131,417 44,754 Net income 486,896 423,847 475,505 Basic earnings per common share 2$ 6.87 5.75 2$ 6.44 Weighted average common shares outstanding 70,869 73,728 73,846 Diluted earnings per common share 6.84 5.73 6.42 Weighted average common shares outstanding 71,165 73,991 74,110 Consolidated Statements of Comprehensive Income (in thousands) Year Ended December 28, 2019 December 29, 2018 December 30, 2017 Net income 486,896 423,847 2$ 475,505 Other comprehensive income (loss): Changes in net unrecognized other postretirement benefit costs, net of tax of $67, $103 and $126 (142) (294) (194) Currency translation adjustments 9,766 (18,945) 14,941 Total other comprehensive income (loss) 9,624 (19,239) 14,747 Comprehensive income 496,520 404,608 2$ 490,252 Assets December 28, 2019 December 29, 2018 Current assets: Cash and cash equivalents 418,665 2$ 896,527 Receivables, net 689,469 624,972 Inventories 4,432,168 4,362,547 Other current assets 155,241 198,408 Total current assets 5,695,543 6,082,454 Property and equipment, net of accumulated depreciation of $2,037,849 and $1,918,502 1,433,213 1,368,985 Operating lease right-of-use assets 2,365,325 Goodwill 992,240 990,237 Intangible assets, net 709,756 550,593 Other assets 52,448 48,379 11,248,525 9,040,648 Liabilities and Stockholders’ Equity Current liabilities: Accounts payable 3,421,987 3,172,790 Accrued expenses 535,863 623,141 Other current liabilities 519,852 90,019 Total current liabilities 4,477,702 3,885,950 Long-term debt 747,320 1,045,720 Noncurrent operating lease liabilities 2,017,159 Deferred income taxes 334,013 318,353 Other long-term liabilities 123,250 239,812 Commitments and contingencies Stockholders' equity: Preferred stock, nonvoting, $0.0001 par value, 10,000 shares authorized; no shares issued or outstanding Common stock, voting, $0.0001 par value, 200,000 shares authorized; 76,051 shares issued and 69,232 outstanding at December 28, 2019 75,831 shares issued and 72,460 outstanding at December 29, 2018 Additional paid-in capital 735,183 694,797 Treasury stock, at cost, 6,819 and 3,371 shares (924,389) (425,954) Accumulated other comprehensive loss (34,569) (44,193) Retained earnings 3,772,848 3,326,155 Total stockholders' equity 3,549,081 3,550,813 11,248,525 9,040,648