01—Abstract
Summary
Summary of the 10-K/A filed October 27, 2009. Cited figures are marked; the original filing is the authoritative source.
This filing is an amendment (10-K/A) to AutoZone Inc.'s (AZO) Annual Report for the fiscal year ended August 29, 2009.
The primary purpose of this amendment is to include an exhibit (Exhibit 10.10, a Credit Agreement dated July 9, 2009) that was inadvertently omitted from the original 10-K filing. Investors should note that this amendment does not introduce new financial results or operational updates; it solely rectifies an omission in the original submission and does not reflect any events occurring after the initial filing date. The original 10-K would contain the detailed financial performance and strategic overview for the fiscal year.
While this amendment itself doesn't provide that information, it's crucial for ensuring the completeness of the original filing. Investors relying on the comprehensive disclosure of AutoZone's 2009 fiscal year performance should consult the original 10-K filing, supplemented by this amendment for completeness regarding the credit facility.
02—Key points
Key Highlights
- This is an amendment (10-K/A) to the original Form 10-K for the fiscal year ended August 29, 2009.
- The amendment's sole purpose is to file an omitted Exhibit 10.10, a Credit Agreement dated July 9, 2009.
- The Credit Agreement involves AutoZone, Inc. as the borrower, Bank of America, N.A. as Administrative Agent, and other parties including JPMorgan Chase Bank, N.A.
- This filing does not alter or update the financial statements or operational disclosures of the original Form 10-K.
- No events or information subsequent to the original filing date are included or reflected in this amendment.
- AutoZone, Inc. is identified as a large accelerated filer.
- The aggregate market value of common equity held by non-affiliates as of the last business day of the second fiscal quarter was approximately $7.45 billion.
03—One dollar
Follow one dollar
Of each $1.00 of revenue in FY2009, AutoZone Inc kept $0.10.
- Revenue$6.82B100.0%
- Cost of revenue−$3.40B49.9%
- Gross profit$3.42B50.1%
- Operating costs−$2.24B32.9%
- Operating income$1.18B17.3%
- Interest, other & tax−$519.0M7.6%
- Net income$657.0M9.6%
Where FY2009 revenue went
$6.82B- Cost of revenue: $3.40B, 50% of revenue
- SG&A: $2.24B, 33% of revenue
- Net income: $657.0M, 9.6% of revenue
- Interest, other & tax: $519.0M, 7.6% of revenue
Kept 9.6% as net income
Full revenue history →04—Financials
Financial Highlights
Figures from 10-K/AFY2009filed October 27, 2009Financial Statements
FY2009 against FY2008
| Line item | FY2009FY2008 | Change |
|---|---|---|
| Revenue | $6.82B$6.52B | +4.5% |
| Cost of Revenue | $3.40B$3.25B | +4.5% |
| Gross Profit | $3.42B$3.27B | +4.5% |
| SG&A Expenses | $2.24B— | — |
| Operating Expenses | $2.24B$2.14B | +4.5% |
| Operating Income | $1.18B$1.12B | +4.6% |
| Interest Expense | $147.50M$121.84M | +21.1% |
| Net Income | $657.05M$641.61M | +2.4% |
| EPS (Basic) | $11.89$10.14 | +17.3% |
| EPS (Diluted) | $11.73$10.04 | +16.8% |
| Shares Outstanding (Basic) | 55.28M63.30M | −12.7% |
| Shares Outstanding (Diluted) | 55.99M63.88M | −12.3% |
05—Questions
Frequently Asked Questions
What is the main reason for this amended 10-K filing?
The primary reason for this amended Form 10-K/A is to include Exhibit 10.10, a Credit Agreement dated July 9, 2009, which was inadvertently omitted from the original Form 10-K filing.
Does this amendment change AutoZone's financial results for the fiscal year ended August 29, 2009?
No, this amendment does not change or update the financial results or any other disclosures made in the original Form 10-K. It solely serves to provide a previously omitted exhibit.
What information can investors find in the omitted Exhibit 10.10?
Exhibit 10.10 details a Credit Agreement entered into by AutoZone, Inc. on July 9, 2009. It outlines the terms of a credit facility with various lenders, agents, and arrangers, including Bank of America, N.A. and JPMorgan Chase Bank, N.A.
Should I rely solely on this 10-K/A for AutoZone's 2009 performance?
No, investors should refer to the original Form 10-K filing for the comprehensive financial and operational details of AutoZone's fiscal year ended August 29, 2009. This 10-K/A is an addendum for completeness regarding a specific omitted exhibit.
06—Continue