$ORLY
O REILLY AUTOMOTIVE INC

2017 Q2 Form 10-Q Financial Statement

#000089817317000154 Filed on August 07, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q2
Revenue $2.291B $2.177B
YoY Change 5.24% 6.94%
Cost Of Revenue $1.091B $1.050B
YoY Change 3.93% 7.45%
Gross Profit $1.200B $1.127B
YoY Change 6.47% 6.46%
Gross Profit Margin 52.39% 51.78%
Selling, General & Admin $742.6M $702.1M
YoY Change 5.77% 4.32%
% of Gross Profit 61.88% 62.29%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $58.00M $53.60M
YoY Change 8.21% 5.1%
% of Gross Profit 4.83% 4.76%
Operating Expenses $742.6M $702.1M
YoY Change 5.77% 4.32%
Operating Profit $457.4M $425.1M
YoY Change 7.62% 10.19%
Interest Expense -$20.40M -$17.50M
YoY Change 16.57% 27.74%
% of Operating Profit -4.46% -4.12%
Other Income/Expense, Net -$21.12M -$16.27M
YoY Change 29.83% 19.96%
Pretax Income $436.3M $408.8M
YoY Change 6.73% 9.83%
Income Tax $153.5M $151.0M
% Of Pretax Income 35.18% 36.94%
Net Earnings $282.8M $257.8M
YoY Change 9.71% 10.4%
Net Earnings / Revenue 12.35% 11.84%
Basic Earnings Per Share $3.14 $2.69
Diluted Earnings Per Share $3.10 $2.65
COMMON SHARES
Basic Shares Outstanding 90.03M shares 95.97M shares
Diluted Shares Outstanding 91.30M shares 97.28M shares

Balance Sheet

Concept 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $27.00M $398.0M
YoY Change -93.22% 53.08%
Cash & Equivalents $26.53M $398.3M
Short-Term Investments
Other Short-Term Assets $38.20M $33.83M
YoY Change 12.92% -10.29%
Inventory $2.959B $2.741B
Prepaid Expenses
Receivables $203.7M $186.2M
Other Receivables $62.00M $79.00M
Total Short-Term Assets $3.290B $3.438B
YoY Change -4.32% 10.59%
LONG-TERM ASSETS
Property, Plant & Equipment $3.229B $2.979B
YoY Change 8.4% 8.58%
Goodwill $786.9M $757.1M
YoY Change 3.94% 0.04%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $39.77M $36.14M
YoY Change 10.06% -16.22%
Total Long-Term Assets $4.056B $3.773B
YoY Change 7.52% 6.0%
TOTAL ASSETS
Total Short-Term Assets $3.290B $3.438B
Total Long-Term Assets $4.056B $3.773B
Total Assets $7.346B $7.211B
YoY Change 1.87% 8.14%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.092B $2.915B
YoY Change 6.08% 14.93%
Accrued Expenses $130.0M $123.0M
YoY Change 5.69% -10.22%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.566B $3.367B
YoY Change 5.92% 11.97%
LONG-TERM LIABILITIES
Long-Term Debt $2.604B $1.886B
YoY Change 38.05% 35.03%
Other Long-Term Liabilities $208.1M $194.7M
YoY Change 6.92% -10.35%
Total Long-Term Liabilities $2.812B $2.081B
YoY Change 35.14% 858.34%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.566B $3.367B
Total Long-Term Liabilities $2.812B $2.081B
Total Liabilities $6.378B $5.448B
YoY Change 17.08% 68.97%
SHAREHOLDERS EQUITY
Retained Earnings -$428.2M $379.6M
YoY Change -212.81% -47.72%
Common Stock $1.298B $1.310B
YoY Change -0.98% 5.35%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $869.3M $1.690B
YoY Change
Total Liabilities & Shareholders Equity $7.346B $7.211B
YoY Change 1.87% 8.14%

Cashflow Statement

Concept 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income $282.8M $257.8M
YoY Change 9.71% 10.4%
Depreciation, Depletion And Amortization $58.00M $53.60M
YoY Change 8.21% 5.1%
Cash From Operating Activities $333.8M $325.6M
YoY Change 2.52% 11.32%
INVESTING ACTIVITIES
Capital Expenditures -$116.9M -$116.4M
YoY Change 0.43% 22.01%
Acquisitions
YoY Change
Other Investing Activities -$800.0K $1.100M
YoY Change -172.73% -45.0%
Cash From Investing Activities -$117.7M -$115.3M
YoY Change 2.08% 23.45%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -217.2M -528.0M
YoY Change -58.86% 27.97%
NET CHANGE
Cash From Operating Activities 333.8M 325.6M
Cash From Investing Activities -117.7M -115.3M
Cash From Financing Activities -217.2M -528.0M
Net Change In Cash -1.100M -317.7M
YoY Change -99.65% 48.81%
FREE CASH FLOW
Cash From Operating Activities $333.8M $325.6M
Capital Expenditures -$116.9M -$116.4M
Free Cash Flow $450.7M $442.0M
YoY Change 1.97% 13.95%

Facts In Submission

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<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&#8217;Reilly Automotive, Inc. and its subsidiaries (the &#8220;Company&#8221; or &#8220;O&#8217;Reilly&#8221;) have been prepared in accordance with United States generally accepted accounting principles (&#8220;U.S. GAAP&#8221;) 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 and six</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">June&#160;30, 2017</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&#160;31, 2017</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&#8217;s Annual Report on Form 10-K for the year ended </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">.</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;">Certain prior period amounts have been reclassified to conform to current period presentation. These reclassifications had no effect on reported totals for assets, liabilities, shareholders&#8217; equity, cash flows or net income. See Note 9 &#8220;Recent Accounting Pronouncements&#8221; to the condensed consolidated financial statements in this report for more information.</font></div></div>

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