Advance Auto Parts, Inc. and Subsidiaries Consolidated Statements of Operations (in thousands, except per share data) Year Ended December 30, December 31, January 2, 2017 2016 2016 Net sales $ 9,373,784 2$ 9,567,679 9,737,018 Cost of sales, including purchasing and warehousing costs 5,288,735 5,311,764 5,314,246 Gross profit 4,085,049 4,255,915 4,422,772 Selling, general and administrative expenses 3,514,837 3,468,317 3,596,992 Operating income 570,212 787,598 825,780 Other, net: Interest expense (58,801) (59,910) (65,408) Other income (expense), net 8,848 11,147 (7,484) Total other, net (49,953) (48,763) (72,892) Income before provision for income taxes 520,259 738,835 752,888 Provision for income taxes 44,754 279,213 279,490 Net income 475,505 459,622 $ 473,398 Basic earnings per common share 6.44 2$ 6.22 $ 6.45 Weighted average common shares outstanding 73,846 73,562 73,190 Diluted earnings per common share 6.42 2$ 6.20 6.40 Weighted average common shares outstanding 74,110 73,856 73,733 Dividends declared per common share 2$ 0.24 2$ 0.24 0.24 December 30, December 31, Assets 2017 2016 Current assets: Cash and cash equivalents 546,937 135,178 Receivables, net 606,357 641,252 Inventories 4,168,492 4,325,868 Other current assets 105,106 70,466 Total current assets 5,426,892 5,172,764 Property and equipment, net of accumulated depreciation of $1,783,383 and $1,660,648 1,394,138 1,446,340 Goodwill 994,293 990,877 Intangible assets, net 597,674 640,903 Other assets, net 69,304 64,149 2$ 8,482,301 8,315,033 Liabilities and Stockholders’ Equity Current liabilities: Accounts payable 2,894,582 2$ 3,086,177 Accrued expenses 533,548 554,397 Other current liabilities 51,967 35,472 Total current liabilities 3,480,097 3,676,046 Long-term debt 1,044,327 1,042,949 Deferred income taxes 303,620 454,282 Other long-term liabilities 239,061 225,564 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; 75,569 shares issued and 73,936 outstanding at December 30, 2017 75,326 shares issued and 73,749 outstanding at December 31, 2016 Additional paid-in capital 664,646 631,052 Treasury stock, at cost, 1,633 and 1,577 shares (144,600) (138,102) Accumulated other comprehensive loss (24,954) (39,701) Retained earnings 2,920,096 2,462,935 Total stockholders' equity 3,415,196 2,916,192 8,482,301 8,315,033