$ORLY
O REILLY AUTOMOTIVE INC Stock $orly

$orly Overview Financials Valuation SEC Filings Company Website

2016 Q1 Form 10-Q Financial Statement

#000089817316000311 Filed on May 09, 2016

Income Statement

Concept	2016 Q1	2015 Q1
Revenue	$2.096B	$1.902B
YoY Change	10.21%	10.07%
Cost Of Revenue	$998.6M	$914.9M
YoY Change	9.14%	7.61%
Gross Profit	$1.098B	$987.0M
YoY Change	11.21%	12.45%
Gross Profit Margin	52.36%	51.89%
Selling, General & Admin	$679.0M	$636.6M
YoY Change	6.66%	7.79%
% of Gross Profit	61.86%	64.5%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$52.78M	$54.95M
YoY Change	-3.95%	15.74%
% of Gross Profit	4.81%	5.57%
Operating Expenses	$679.0M	$636.6M
YoY Change	6.66%	7.79%
Operating Profit	$418.6M	$350.4M
YoY Change	19.48%	22.03%
Interest Expense	-$14.10M	-$13.80M
YoY Change	2.17%	7.81%
% of Operating Profit	-3.37%	-3.94%
Other Income/Expense, Net	-$13.05M	-$12.71M
YoY Change	2.7%	4.51%
Pretax Income	$405.6M	$337.7M
YoY Change	20.11%	22.8%
Income Tax	$150.2M	$124.8M
% Of Pretax Income	37.03%	36.96%
Net Earnings	$255.4M	$212.9M
YoY Change	19.97%	22.43%
Net Earnings / Revenue	12.18%	11.19%
Basic Earnings Per Share	$2.63	$2.09
Diluted Earnings Per Share	$2.59	$2.06
COMMON SHARES
Basic Shares Outstanding	97.14M shares	101.6M shares
Diluted Shares Outstanding	98.54M shares	103.3M shares

Balance Sheet

Concept	2016 Q1	2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$716.0M	$474.0M
YoY Change	51.05%	-7.42%
Cash & Equivalents	$716.0M	$473.6M
Short-Term Investments
Other Short-Term Assets	$36.93M	$40.93M
YoY Change	-9.78%	0.65%
Inventory	$2.702B	$2.528B
Prepaid Expenses
Receivables	$178.3M	$162.0M
Other Receivables	$69.00M	$70.00M
Total Short-Term Assets	$3.701B	$3.274B
YoY Change	13.05%	3.57%
LONG-TERM ASSETS
Property, Plant & Equipment	$2.914B	$2.699B
YoY Change	7.97%	9.57%
Goodwill	$757.1M	$756.4M
YoY Change	0.1%	0.02%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets	$35.08M	$43.94M
YoY Change	-20.17%	18.73%
Total Long-Term Assets	$3.718B	$3.512B
YoY Change	5.89%	7.44%
TOTAL ASSETS
Total Short-Term Assets	$3.701B	$3.274B
Total Long-Term Assets	$3.718B	$3.512B
Total Assets	$7.420B	$6.786B
YoY Change	9.34%	5.54%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$2.783B	$2.471B
YoY Change	12.62%	14.34%
Accrued Expenses	$116.0M	$117.0M
YoY Change	-0.85%	9.35%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00
YoY Change
Long-Term Debt Due		$0.00
YoY Change
Total Short-Term Liabilities	$3.316B	$2.952B
YoY Change	12.31%	13.65%
LONG-TERM LIABILITIES
Long-Term Debt	$1.886B	$1.397B
YoY Change	34.99%	0.07%
Other Long-Term Liabilities	$201.9M	$211.8M
YoY Change	-4.64%	7.33%
Total Long-Term Liabilities	$2.088B	$211.8M
YoY Change	885.94%	7.33%
TOTAL LIABILITIES
Total Short-Term Liabilities	$3.316B	$2.952B
Total Long-Term Liabilities	$2.088B	$211.8M
Total Liabilities	$5.403B	$3.164B
YoY Change	70.77%	13.2%
SHAREHOLDERS EQUITY
Retained Earnings	$637.8M	$908.4M
YoY Change	-29.78%	-9.14%
Common Stock	$1.302B	$1.235B
YoY Change	5.41%	6.16%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$1.940B	$2.144B
YoY Change
Total Liabilities & Shareholders Equity	$7.420B	$6.786B
YoY Change	9.34%	5.54%

Cashflow Statement

Concept	2016 Q1	2015 Q1
OPERATING ACTIVITIES
Net Income	$255.4M	$212.9M
YoY Change	19.97%	22.43%
Depreciation, Depletion And Amortization	$52.78M	$54.95M
YoY Change	-3.95%	15.74%
Cash From Operating Activities	$503.1M	$406.0M
YoY Change	23.91%	17.5%
INVESTING ACTIVITIES
Capital Expenditures	$104.0M	$91.14M
YoY Change	14.08%	9.69%
Acquisitions
YoY Change
Other Investing Activities	$0.00	$1.600M
YoY Change	-100.0%	33.33%
Cash From Investing Activities	-$102.1M	-$89.55M
YoY Change	13.98%	9.34%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net	$312.7M	$134.8M
YoY Change	131.92%	510.93%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	$198.6M	-$93.39M
YoY Change	-312.7%	-653.86%
NET CHANGE
Cash From Operating Activities	$503.1M	$406.0M
Cash From Investing Activities	-$102.1M	-$89.55M
Cash From Financing Activities	$198.6M	-$93.39M
Net Change In Cash	$599.7M	$223.1M
YoY Change	168.82%	-20.47%
FREE CASH FLOW
Cash From Operating Activities	$503.1M	$406.0M
Capital Expenditures	$104.0M	$91.14M
Free Cash Flow	$399.1M	$314.9M
YoY Change	26.76%	19.97%

Facts In Submission

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CY2016Q1	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2016
CY2016Q1	dei	Document Period End Date DocumentPeriodEndDate	2016-03-31
CY2016Q1	dei	Document Type DocumentType	10-Q
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CY2015Q1	us-gaap	Repayments Of Long Term Capital Lease Obligations RepaymentsOfLongTermCapitalLeaseObligations	19000	USD
CY2016Q1	us-gaap	Repayments Of Long Term Capital Lease Obligations RepaymentsOfLongTermCapitalLeaseObligations	0	USD
CY2015Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	678840000	USD
CY2016Q1	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	637817000	USD
CY2015Q1	us-gaap	Sales Revenue Net SalesRevenueNet	1901903000	USD
CY2016Q1	us-gaap	Sales Revenue Net SalesRevenueNet	2096150000	USD
CY2015Q4	us-gaap	Self Insurance Reserve Current SelfInsuranceReserveCurrent	72741000	USD
CY2016Q1	us-gaap	Self Insurance Reserve Current SelfInsuranceReserveCurrent	71069000	USD
CY2015Q1	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	636586000	USD
CY2016Q1	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	678953000	USD
CY2015Q1	us-gaap	Share Based Compensation ShareBasedCompensation	5890000	USD
CY2016Q1	us-gaap	Share Based Compensation ShareBasedCompensation	5178000	USD
CY2016Q1	us-gaap	Stock Repurchase Program Authorized Amount1 StockRepurchaseProgramAuthorizedAmount1	6300000000	USD
CY2016Q1	us-gaap	Stock Repurchase Program Period In Force1 StockRepurchaseProgramPeriodInForce1	P3Y
CY2016Q1	us-gaap	Stock Repurchase Program Remaining Authorized Repurchase Amount1 StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1	580600000	USD
CY2015Q1	us-gaap	Stock Repurchased And Retired During Period Shares StockRepurchasedAndRetiredDuringPeriodShares	650000	shares
CY2016Q1	us-gaap	Stock Repurchased And Retired During Period Shares StockRepurchasedAndRetiredDuringPeriodShares	1231000	shares
CY2015Q4	us-gaap	Stockholders Equity StockholdersEquity	1961314000	USD
CY2016Q1	us-gaap	Stockholders Equity StockholdersEquity	1939841000	USD
CY2015Q1	us-gaap	Treasury Stock Acquired Average Cost Per Share TreasuryStockAcquiredAverageCostPerShare	207.50
CY2016Q1	us-gaap	Treasury Stock Acquired Average Cost Per Share TreasuryStockAcquiredAverageCostPerShare	254.02
CY2015Q1	us-gaap	Treasury Stock Value Acquired Par Value Method TreasuryStockValueAcquiredParValueMethod	134803000	USD
CY2016Q1	us-gaap	Treasury Stock Value Acquired Par Value Method TreasuryStockValueAcquiredParValueMethod	312637000	USD
CY2015Q4	us-gaap	Unsecured Debt UnsecuredDebt	0	USD
CY2016Q1	us-gaap	Unsecured Debt UnsecuredDebt	0	USD
CY2015Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	103257000	shares
CY2016Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	98537000	shares
CY2015Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	101612000	shares
CY2016Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	97140000	shares
CY2016Q1	us-gaap	Basis Of Accounting BasisOfAccounting	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">NOTE 1 - BASIS OF PRESENTATION</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The accompanying unaudited condensed consolidated financial statements of O’Reilly Automotive, Inc. and its subsidiaries (the “Company” or “O’Reilly”) have been prepared in accordance with United States generally accepted accounting principles (“U.S. GAAP”) for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">March 31, 2016</font><font style="font-family:inherit;font-size:10pt;">, are not necessarily indicative of the results that may be expected for the year ended </font><font style="font-family:inherit;font-size:10pt;">December 31, 2016</font><font style="font-family:inherit;font-size:10pt;">. For further information, refer to the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended </font><font style="font-family:inherit;font-size:10pt;">December 31, 2015</font><font style="font-family:inherit;font-size:10pt;">.</font></div></div>
CY2016Q1	us-gaap	Description Of New Accounting Pronouncements Not Yet Adopted DescriptionOfNewAccountingPronouncementsNotYetAdopted	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">NOTE 9 - RECENT ACCOUNTING PRONOUNCEMENTS</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In May of 2014, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standard Update (“ASU”) No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” (“ASU 2014-09”). Under ASU 2014-09, an entity is required to follow a five-step process to determine the amount of revenue to recognize when promised goods or services are transferred to customers. ASU 2014-09 offers specific accounting guidance for costs to obtain or fulfill a contract with a customer. In addition, an entity is required to disclose sufficient information to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. In August of 2015, the FASB issued ASU No. 2015-14, “Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date” (“ASU 2015-14”), to defer the effective date of ASU 2014-09 by one year. For public companies, ASU 2015-14 changes ASU 2014-09 to be effective for annual reporting periods beginning after December 15, 2017, including periods within that reporting period. These ASUs can be adopted retrospectively or as a cumulative-effective adjustment at the date of adoption, with early adoption allowed, but not before December 15, 2016. The Company will adopt this guidance beginning with its first quarter ending March 31, 2018. The Company is in the process of evaluating the potential future impact, if any, of ASU 2014-09 on its consolidated financial position, results of operations and cash flows, and which method of adoption is most appropriate for the Company.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In February of 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842)” (“ASU 2016-02”). Under ASU 2016-02, an entity will be required to recognize right-of-use assets and lease liabilities on its balance sheet and disclose key information about leasing arrangements. ASU 2016-02 offers specific accounting guidance for a lessee, a lessor and sale and leaseback transactions. Lessees and lessors are required to disclose qualitative and quantitative information about leasing arrangements to enable a user of the financial statements to assess the amount, timing and uncertainty of cash flows arising from leases. For public companies, ASU 2016-02 is effective for annual reporting periods beginning after December 15, 2018, including interim periods within that reporting period, and requires a modified retrospective adoption, with early adoption permitted. The Company will adopt this guidance beginning with its first quarter ending March 31, 2019. The Company is in the process of evaluating the future impact of ASU 2016-02 on its consolidated financial position, results of operations and cash flows.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In March of 2016, the FASB issued ASU No. 2016-06, “Derivatives and Hedging (Topic 815): Contingent Put and Call Options in Debt Instruments” (“ASU 2016-06”). ASU 2016-06 clarifies the requirements for assessing whether contingent call or put options that can accelerate the payment of principal on debt instruments are clearly and closely related to the economic characteristics and risks of the debt hosts and requires entities to solely use the four-step decision sequence, which is already in existence, when assessing the embedded call or put options. For public companies, ASU 2016-06 is effective for annual reporting periods beginning after December 15, 2016, including periods within that reporting period, and can be adopted on a modified retrospective basis, with early adoption permitted. The Company will adopt this guidance beginning with its first quarter ending March 31, 2017. The application of this guidance is not expected to have a material impact on the Company’s consolidated financial condition, results of operations or cash flows.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In March of 2016, the FASB issued ASU No. 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting” (“ASU 2016-09”). Under ASU 2016-09, several aspects of the accounting for share-based payment transactions, including tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows, were simplified. For public companies, ASU 2016-09 is effective for annual reporting beginning after December 15, 2016, including interim periods within that reporting period, with early adoption permitted. ASU 2016-09 includes various adoption methods, depending on the guidance being adopted; amendments related to the timing of when excess tax benefits are recognized, minimum statutory withholding requirements and forfeitures should be applied using a modified retrospective transition method, while the amendments related to the presentation of employee taxes paid on the statement of cash flows should be applied retrospectively, the amendments requiring recognition of excess tax benefits and deficiencies in the income statement should be applied prospectively, and amendments related to the presentation of excess tax benefits on the statement of cash flows should be applied either prospectively or retrospectively. The Company will adopt this guidance beginning with its first quarter ending March 31, 2017. The Company is in the process of evaluating the future impact of ASU 2016-09 on its consolidated financial position, results of operations and cash flows.</font></div></div>

Files In Submission

Name	View Source	Status
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orly-20160331x10q.htm	Edgar Link	pending
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2016 Q1 Form 10-Q Financial Statement

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2016 Q1 Form 10-Q Financial Statement

#000089817316000311 Filed on May 09, 2016

Income Statement

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