AutoZone, Inc. Consolidated Balance Sheets August 31, 2019 August 25, 2018 (in thousands) Assets Current assets: Cash and cash equivalents $ 176,300 308,995 4,319,113 224,277 $ 217,824 258,136 3,943,670 216,239 4,635,869 Accounts receivable Merchandise inventories Other current assets Total current assets 5,028,685 Property and equipment: Land Buildings and improvements Equipment Leasehold improvements Construction in progress 1,147,709 3,895,559 1,991,042 552,018 126,868 1,107,092 3,698,010 1,841,330 504,656 140,535 7,713,196 3,314,445 7,291,623 3,073,223 Less: Accumulated depreciation and amortization 4,398,751 302,645 26,861 138,971 4,218,400 302,645 34,620 155,446 Goodwill Deferred income taxes Other long-term assets 468,477 492,711 $ 9,895,913 $ 9,346,980 Liabilities and Stockholders' Deficit Current liabilities: Accounts payable Accrued expenses and other Income taxes payable $ 4,864,912 621,932 25,297 $ 4,409,372 606,894 12,415 Total current liabilities Long-term debt Deferred income taxes Other long-term liabilities Commitments and contingencies 5,512,141 5,206,344 311,980 579,299 5,028,681 5,005,930 285,204 547,520 Stockholders' deficit: Preferred stock, authorized 1,000 shares; no shares issued Common stock, par value $.01 per share, authorized 200,000 shares; 25,445 shares issued and 24,038 shares outstanding in 2019 and 27,530 shares issued and 25,742 shares outstanding in 2018 Additional paid-in capital 254 275 1,264,448 (1,305,347) (269,322) (1,403,884) 1,155,426 (1,208,824) (235,805) (1,231,427) Retained deficit Accumulated other comprehensive loss Treasury stock, at cost (1,713,851) $ 9,895,913 Total stockholders' deficit (1,520,355) $ 9,346,980 AutoZone, Inc. Consolidated Statements of Cash Flows Year Ended August 31, 2019 August 25, 2018 August 26, 2017 (in thousands) (53 weeks) (52 weeks) (52 weeks) Cash flows from operating activities: Net income $ 1,617,221 $ 1,337,536 $ 1,280,869 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization of property and equipment and intangibles Amortization of debt origination fees 369,957 8,162 35,051 43,255 345,084 8,393 (124,261) 43,674 (11,596) 130,263 193,162 323,051 8,369 74,902 38,244 (17,761) Deferred income taxes Share-based compensation expense Pension plan contributions Pension termination charges (refund) Asset impairment Changes in operating assets and liabilities: Accounts receivable (6,796) (48,512) (394,147) 464,176 7,534 (188,782) 319,609 (6,438) 26,114 7,795 (236,807) 82,614 (3,659) 12,995 Merchandise inventories Accounts payable and accrued expenses Income taxes payable (10,489) 50,635 Other, net Net cash provided by operating activities 2,128,513 2,080,292 1,570,612 Cash flows from investing activities: Capital expenditures Proceeds from sale of assets (496,050) (521,788) 35,279 (104,536) 69,644 (459) (553,832) Purchase of marketable debt securities (55,538) 53,140 6,602 (85,711) 82,993 2,951 Proceeds from sale of marketable debt securities Proceeds (payments) from disposal of capital assets and other, net Net cash used in investing activities (491,846) (521,860) (553,599) Cash flows from financing activities: Net (payments of) proceeds from commercial paper Proceeds from issuance of debt (295,300) 750,000 (250,000) 188,819 (2,004,896) (53,307) (9,404) 170,200 Repayment of debt Net proceeds from sale of common stock Purchase of treasury stock Payments of capital lease obligations Other, net (250,000) 89,715 (1,592,013) (49,004) (1,052) (42,400) 600,000 (400,000) 54,686 (1,071,649) (47,604) (7,362) Net cash used in financing activities (914,329) (1,674,088) (4,103) (41,524) 217,824 (1,632,154) (1,724) Effect of exchange rate changes on cash Net (decrease) increase in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year 852 (75,446) 293,270 103,536 189,734 2$ 176,300 217,824 293,270 Supplemental cash flow information: Interest paid, net of interest cost capitalized 153,371 163,965 135,331 Income taxes paid 2$ 383,871 $ 427,161 $ 579,925 Assets acquired through capital lease $ 147,699 98,782 84,011