Adjustments to Current Assets
Adjustments to Total Assets
Adjustments to Current Liabilities
Adjustments to Total Liabilities
Adjustments to Stockholders’ Equity
Adjustments to Capitalization Table
Adjustments to Revenues
Adjustments to Reported Income

O’Reilly Automotive Inc., adjusted current assets

US$ in thousands

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
As Reported
Current assets	4,504,262)	4,499,787)	3,833,662)	3,543,102)	3,397,672)
Adjustments
Add: Allowance for doubtful accounts	11,870)	12,670)	14,417)	13,238)	12,717)
After Adjustment
Adjusted current assets	4,516,132)	4,512,457)	3,848,079)	3,556,340)	3,410,389)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

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O’Reilly Automotive Inc., adjusted total assets

US$ in thousands

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
As Reported
Total assets	11,718,707)	11,596,642)	10,717,160)	7,980,789)	7,571,885)
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)¹	—)	—)	—)	1,976,830)	1,945,593)
Add: Allowance for doubtful accounts	11,870)	12,670)	14,417)	13,238)	12,717)
After Adjustment
Adjusted total assets	11,730,577)	11,609,312)	10,731,577)	9,970,857)	9,530,195)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

¹ Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

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O’Reilly Automotive Inc., adjusted current liabilities

US$ in thousands

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
As Reported
Current liabilities	5,874,615)	5,262,417)	4,469,427)	3,894,020)	3,647,366)
Adjustments
Less: Current product warranty liabilities	77,199)	65,886)	61,069)	52,220)	44,398)
After Adjustment
Adjusted current liabilities	5,797,416)	5,196,531)	4,408,358)	3,841,800)	3,602,968)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

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O’Reilly Automotive Inc., adjusted total liabilities

US$ in thousands

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
As Reported
Total liabilities	11,785,130)	11,456,384)	10,319,820)	7,627,122)	6,918,839)
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	1,976,830)	1,945,593)
Less: Deferred tax liabilities²	175,212)	155,899)	133,280)	105,566)	85,406)
Less: Deferred revenue liability	3,400)	4,500)	4,100)	4,300)	4,700)
Less: Product warranty liabilities	77,199)	65,886)	61,069)	52,220)	44,398)
After Adjustment
Adjusted total liabilities	11,529,319)	11,230,099)	10,121,371)	9,441,866)	8,729,928)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Deferred tax liabilities. See details »

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O’Reilly Automotive Inc., adjusted shareholders’ equity (deficit)

US$ in thousands

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
As Reported
Shareholders’ equity (deficit)	(66,423)	140,258)	397,340)	353,667)	653,046)
Adjustments
Less: Net deferred tax assets (liabilities)¹	(175,212)	(155,899)	(133,280)	(105,566)	(85,406)
Add: Allowance for doubtful accounts	11,870)	12,670)	14,417)	13,238)	12,717)
Add: Deferred revenue liability	3,400)	4,500)	4,100)	4,300)	4,700)
Add: Product warranty liabilities	77,199)	65,886)	61,069)	52,220)	44,398)
After Adjustment
Adjusted shareholders’ equity (deficit)	201,258)	379,213)	610,206)	528,991)	800,267)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

¹ Net deferred tax assets (liabilities). See details »

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O’Reilly Automotive Inc., adjusted capitalization table

US$ in thousands

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
As Reported
Long-term debt	3,826,978)	4,123,217)	3,890,527)	3,417,122)	2,978,390)
Total reported debt	3,826,978)	4,123,217)	3,890,527)	3,417,122)	2,978,390)
Shareholders’ equity (deficit)	(66,423)	140,258)	397,340)	353,667)	653,046)
Total reported capital	3,760,555)	4,263,475)	4,287,867)	3,770,789)	3,631,436)
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	1,976,830)	1,945,593)
Add: Current portion of operating lease liabilities²	337,832)	322,778)	316,061)	—)	—)
Add: Operating lease liabilities, less current portion³	1,701,757)	1,718,691)	1,655,297)	—)	—)
Adjusted total debt	5,866,567)	6,164,686)	5,861,885)	5,393,952)	4,923,983)
Adjustments to Equity
Less: Net deferred tax assets (liabilities)⁴	(175,212)	(155,899)	(133,280)	(105,566)	(85,406)
Add: Allowance for doubtful accounts	11,870)	12,670)	14,417)	13,238)	12,717)
Add: Deferred revenue liability	3,400)	4,500)	4,100)	4,300)	4,700)
Add: Product warranty liabilities	77,199)	65,886)	61,069)	52,220)	44,398)
Adjusted shareholders’ equity (deficit)	201,258)	379,213)	610,206)	528,991)	800,267)
After Adjustment
Adjusted total capital	6,067,825)	6,543,899)	6,472,091)	5,922,943)	5,724,250)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Current portion of operating lease liabilities. See details »

³ Operating lease liabilities, less current portion. See details »

⁴ Net deferred tax assets (liabilities). See details »

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O’Reilly Automotive Inc., adjusted sales

US$ in thousands

12 months ended:	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
As Reported
Sales	13,327,563)	11,604,493)	10,149,985)	9,536,428)	8,977,726)
Adjustment
Add: Increase (decrease) in deferred revenue liability	(1,100)	400)	(200)	(400)	(100)
After Adjustment
Adjusted sales	13,326,463)	11,604,893)	10,149,785)	9,536,028)	8,977,626)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

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O’Reilly Automotive Inc., adjusted net income

US$ in thousands

12 months ended:	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
As Reported
Net income	2,164,685)	1,752,302)	1,391,042)	1,324,487)	1,133,804)
Adjustments
Add: Deferred income tax expense (benefit)¹	20,383)	12,381)	21,158)	20,160)	(4,760)
Add: Increase (decrease) in allowance for doubtful accounts	(800)	(1,747)	1,179)	521)	677)
Add: Increase (decrease) in deferred revenue liability	(1,100)	400)	(200)	(400)	(100)
Add: Increase (decrease) in product warranty liabilities	11,313)	4,817)	8,849)	7,822)	7,775)
Add: Other comprehensive income (loss)	(4,644)	(7,045)	4,890)	—)	—)
After Adjustment
Adjusted net income	2,189,837)	1,761,108)	1,426,918)	1,352,590)	1,137,396)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

¹ Deferred income tax expense (benefit). See details »

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O’Reilly Automotive Inc. (NASDAQ:ORLY)

Adjustments to Financial Statements

Adjustments to Current Assets

Adjustments to Total Assets

Adjustments to Current Liabilities

Adjustments to Total Liabilities

Adjustments to Stockholders’ Equity

Adjustments to Capitalization Table

Adjustments to Revenues

Adjustments to Reported Income