| Net income | | | | | $ 1,241,007 | | AUTOZONE INC. | | | | | | Consolidated Statements of Income | | | | | | $ thousands, except for par value | | | | | | Aug. 27, 2016 | | | Current assets | | | | | | | | | | | Cash and cash equivalent | | | | | | | $ 189,734 | | | Accounts receivable | | | | | | | | $ 287,680 | | | Merchandise inventories | | | | | | | $ 3,631,916 | | | Other current assets | | | | | | | | $ 130,243 | | | Total current assets | | | | | | | | $ 4,239,573 | | | Property and equipment, net | | | | | | | $ 3,733,254 | | | Goodwill | | | | | | | | | $ 391,887 | | | Deferred income taxes | | | | | | | $ 36,855 | | | Other long-term assets | | | | | | | $ 198,218 | | | Total assets | | | | | | | | $ 8,599,787 | | | Current liabilities | | | | | | | | | | | Accounts payable | | | | | | | | $ 4,095,854 | | | Accrued expenses and other | | | | | | | $ 551,625 | | | Income taxes payable | | | | | | | $ 42,841 | | | Total current liabilities | | | | | | | $ 4,690,320 | | | Long-term debt | | | | | | | | $ 4,924,119 | | | Deferred income taxes | | | | | | | $ 284,500 | | | Other long-term liabilities | | | | | | | $ 488,386 | | | Stockholders' deficit | | | | | | | | | | Preferred stock, authorized 1,000 shares; no shares issued | | | | | | | Common stock, par value $0.01 per share, authorized 200,000 shares; | | | | | | 30,329 share issued and 29,118 shares outstanding in 2016 and 32,098 shares issued | | | | and 30,659 shares outstanding in 2015 | | | | | | $ 303 | | | Additional paid-in capital | | | | | | | $ 1,054,647 | | | Retained deficit | | | | | | | | ($1,602,186) | | | Accumulated other comprehensive loss | | | | | | ($ 307,529) | | | Treasury stock, at cost | | | | | | | ($ 932,773) | | | Total stockholders' deficit | | | | | | | ($1,787,538) | | | Liabilities and stockholders' deficit | | | | | | $ 8,599,787 | | | Forecast AutoZones 2017 income statement and balance sheet using the following relations ($ in thousands). All percentages (other than sales growth and provision for income taxes) are based on percent of net sales. | | Net Sales growth | 6% | | | | Cost of sales, including warehouse and delivery expenses | 47.30% | | | | Operating, selling, general and administrative expenses | 33.40% | | | | Interest expense, net | $145,000 | | | | Income tax expense (% pretax income) | 35% | | | | Accounts receivable | 2.70% | | | | Merchandise inventories | 34.10% | | | Other current assets | 1.20% | | | Accounts payable | 38.50% | | | Accrued expenses and other | 5.20% | | | Income taxes payable | 0.40% | | | CAPEX for 2017 will be 4.6% of 2017 Net sales and depreciation will be 8.3% of Property and equipment, net at the start of the fiscal year, which was $3,733,254 thousand. Goodwill, Deferred income taxes, Other long-term liabilities, AOCI, and Treasury stock will not change during the year. Other long-term assets including intangible assets. The 10-K reports that the 2017 amortization expense for intangibles will be $8,482 thousand. Long-term debt will decrease by $1,597,500 in 2017, per the 10-K. | | |
