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ADVANCE AUTO PARTS INC

For the period ended Dec 30, 2023. Filed Mar 12, 2024.

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About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Mar 12, 2024

AAP$45.94+1.0%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Table of Contents

TABLE OF CONTENTS
Page
Part I.
Item 1.Business2
Item 1A.Risk Factors7
Item 1B.Unresolved Staff Comments15
Item 1C.Cybersecurity15
Item 2.Properties16
Item 3.Legal Proceedings16
Item 4.Mine Safety Disclosures16
Part II.
Item 5.Market for the Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities17
Item 6.[Reserved]19
Item 7.Management's Discussion and Analysis of Financial Condition and Results of Operations19
Item 7A.Quantitative and Qualitative Disclosures About Market Risks26
Item 8.Financial Statements and Supplementary Data26
Item 9.Changes in and Disagreements with Accountants on Accounting and Financial Disclosure26
Item 9A.Controls and Procedures26
Item 9B.Other Information28
Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections28
Part III.
Item 10.Directors, Executive Officers and Corporate Governance29
Item 11.Executive Compensation29
Item 12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters29
Item 13.Certain Relationships and Related Transactions, and Director Independence29
Item 14.Principal Accountant Fees and Services29
Part IV.
Item 15.Exhibits, Financial Statement Schedules30
Signatures80

FORWARD-LOOKING STATEMENTS

Certain statements herein are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are usually identifiable by words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast, “guidance,” “intend,” “likely,” “may,” “plan,” “position,” “possible,” “potential,” “probable,” “project,” “should,” “strategy,” “will,” or similar language. All statements other than statements of historical fact are forward-looking statements, including, but not limited to, statements about our strategic initiatives, including cost reduction initiatives, the potential sales of the Worldpac and Carquest Canada portions of our business, operational plans and objectives, expectations for economic conditions, future business and financial performance, as well as statements regarding underlying assumptions related thereto. Forward-looking statements reflect our views based on historical results, current information and assumptions related to future developments. Except as may be required by law, we undertake no obligation to update any forward-looking statements made herein. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those projected or implied by the forward-looking statements. They include, among others, factors related to the company’s leadership transitions, our ability to complete the potential divestitures of Worldpac and Carquest Canada, our ability to hire, train and retain qualified employees, the timing and implementation of strategic initiatives, deterioration of general macroeconomic conditions, geopolitical conflicts, the highly competitive nature of our industry, demand for our products and services, access to financing on favorable terms, complexities in our inventory and supply chain and challenges with transforming and growing our business. Except as may be required by law, we undertake no obligation to update any forward-looking statements made herein. Please refer to “Item 1A. Risk Factors” included in this report and other filings made by us with the Securities and Exchange Commission (“SEC”) for a description of these and other risks and uncertainties that could cause actual results to differ materially from those projected or implied by the forward-looking statements.

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.