Balance Sheet: Assets
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

AutoZone Inc., consolidated balance sheet: assets (quarterly data)

US$ in thousands

	Nov 18, 2023	Aug 26, 2023	May 6, 2023	Feb 11, 2023	Nov 19, 2022	Aug 27, 2022	May 7, 2022	Feb 12, 2022	Nov 20, 2021	Aug 28, 2021	May 8, 2021	Feb 13, 2021	Nov 21, 2020	Aug 29, 2020	May 9, 2020	Feb 15, 2020	Nov 23, 2019	Aug 31, 2019	May 4, 2019	Feb 9, 2019	Nov 17, 2018	Aug 25, 2018	May 5, 2018	Feb 10, 2018	Nov 18, 2017
Cash and cash equivalents	282,981)	277,054)	274,916)	301,286)	269,790)	264,380)	263,044)	239,423)	961,125)	1,171,335)	975,646)	1,026,164)	1,664,005)	1,750,815)	509,118)	152,970)	158,089)	176,300)	174,058)	195,665)	252,086)	217,824)	218,386)	288,522)	257,677)
Accounts receivable	511,907)	520,385)	471,009)	484,767)	501,798)	504,886)	439,820)	405,585)	379,276)	378,392)	359,669)	352,517)	350,915)	364,774)	266,920)	340,280)	333,246)	308,995)	281,610)	298,319)	275,194)	258,136)	261,299)	282,532)	272,450)
Merchandise inventories	5,774,467)	5,764,143)	5,703,688)	5,731,255)	5,607,690)	5,638,004)	5,313,114)	5,031,222)	4,768,258)	4,639,813)	4,665,477)	4,736,826)	4,628,334)	4,473,282)	4,440,602)	4,606,211)	4,463,124)	4,319,113)	4,325,659)	4,305,469)	4,090,376)	3,943,670)	4,005,820)	4,085,528)	4,012,104)
Other current assets	387,446)	217,844)	259,259)	277,497)	253,840)	220,714)	238,743)	227,540)	240,487)	225,763)	223,604)	211,338)	193,541)	223,001)	181,353)	201,086)	202,516)	224,277)	190,013)	197,619)	196,673)	216,239)	185,772)	169,725)	174,961)
Current assets	6,956,801)	6,779,426)	6,708,872)	6,794,805)	6,633,118)	6,627,984)	6,254,721)	5,903,770)	6,349,146)	6,415,303)	6,224,396)	6,326,845)	6,836,795)	6,811,872)	5,397,993)	5,300,547)	5,156,975)	5,028,685)	4,971,340)	4,997,072)	4,814,329)	4,635,869)	4,671,277)	4,826,307)	4,717,192)
Property and equipment	10,550,192)	10,337,890)	9,937,300)	9,723,855)	9,571,496)	9,453,171)	9,139,576)	8,965,026)	8,854,872)	8,807,178)	8,538,854)	8,410,097)	8,283,676)	8,136,542)	7,899,183)	7,948,231)	7,844,304)	7,713,196)	7,556,743)	7,436,916)	7,324,008)	7,291,623)	7,124,603)	7,041,562)	6,952,694)
Accumulated depreciation and amortization	(4,837,035)	(4,741,342)	(4,603,277)	(4,487,726)	(4,376,950)	(4,282,752)	(4,167,950)	(4,085,947)	(3,996,944)	(3,950,287)	(3,855,705)	(3,782,104)	(3,697,674)	(3,627,321)	(3,514,597)	(3,471,805)	(3,393,648)	(3,314,445)	(3,231,813)	(3,166,993)	(3,095,207)	(3,073,223)	(3,001,637)	(2,960,261)	(2,891,743)
Property and equipment, less accumulated depreciation and amortization	5,713,157)	5,596,548)	5,334,023)	5,236,129)	5,194,546)	5,170,419)	4,971,626)	4,879,079)	4,857,928)	4,856,891)	4,683,149)	4,627,993)	4,586,002)	4,509,221)	4,384,586)	4,476,426)	4,450,656)	4,398,751)	4,324,930)	4,269,923)	4,228,801)	4,218,400)	4,122,966)	4,081,301)	4,060,951)
Operating lease right-of-use assets	2,998,672)	2,998,097)	2,959,488)	2,943,844)	2,922,148)	2,918,817)	2,764,631)	2,743,771)	2,717,566)	2,718,712)	2,694,846)	2,660,667)	2,607,019)	2,581,677)	2,613,849)	2,579,217)	2,585,105)	—)	—)	—)	—)	—)	—)	—)	—)
Goodwill	302,645)	302,645)	302,645)	302,645)	302,645)	302,645)	302,645)	302,645)	302,645)	302,645)	302,645)	302,645)	302,645)	302,645)	302,645)	302,645)	302,645)	302,645)	302,645)	302,645)	302,645)	302,645)	302,645)	302,645)	391,887)
Deferred income taxes	84,087)	86,002)	62,043)	59,814)	53,444)	52,047)	40,707)	40,730)	40,164)	41,043)	30,366)	30,240)	29,887)	27,843)	23,345)	27,945)	27,365)	26,861)	35,150)	34,844)	33,118)	34,620)	33,784)	34,251)	33,990)
Other long-term assets	237,208)	223,160)	230,851)	207,905)	210,032)	203,131)	186,235)	208,478)	193,500)	181,605)	202,544)	211,603)	206,226)	190,614)	179,713)	176,969)	177,710)	138,971)	139,675)	140,611)	144,688)	155,446)	171,097)	159,215)	193,064)
Long-term assets	9,335,769)	9,206,452)	8,889,050)	8,750,337)	8,682,815)	8,647,059)	8,265,844)	8,174,703)	8,111,803)	8,100,896)	7,913,550)	7,833,148)	7,731,779)	7,612,000)	7,504,138)	7,563,202)	7,543,481)	4,867,228)	4,802,400)	4,748,023)	4,709,252)	4,711,111)	4,630,492)	4,577,412)	4,679,892)
Total assets	16,292,570)	15,985,878)	15,597,922)	15,545,142)	15,315,933)	15,275,043)	14,520,565)	14,078,473)	14,460,949)	14,516,199)	14,137,946)	14,159,993)	14,568,574)	14,423,872)	12,902,131)	12,863,749)	12,700,456)	9,895,913)	9,773,740)	9,745,095)	9,523,581)	9,346,980)	9,301,769)	9,403,719)	9,397,084)

Total assets exhibited a significant upward trajectory over the analyzed period, increasing from approximately 9.4 billion USD in November 2017 to 16.3 billion USD by November 2023. This growth is characterized by a steady climb in operating assets and a structural shift in the balance sheet composition occurring in late 2019.

Current Asset Composition and Trends: Current assets grew from 4.7 billion USD to 6.96 billion USD. This expansion was primarily driven by merchandise inventories, which rose from 4.01 billion USD to 5.77 billion USD, remaining the most substantial component of the current asset base. Accounts receivable also showed a consistent upward trend, nearly doubling from 272 million USD in 2017 to 512 million USD in 2023, indicating an increase in credit extended to customers or a growth in sales volume.
Liquidity and Cash Volatility: Cash and cash equivalents demonstrated extreme volatility. After maintaining a range between 150 million USD and 300 million USD for several years, a substantial surge occurred between May 2020 and November 2020, peaking at 1.75 billion USD. This liquidity spike was temporary, as cash levels returned to a normalized range of approximately 283 million USD by the end of 2023.
Long-Term Asset Expansion: Long-term assets experienced a structural increase starting in November 2019, rising from approximately 4.7 billion USD to 9.3 billion USD by November 2023. A primary driver for this shift was the recognition of operating lease right-of-use assets, which first appeared in late 2019 at 2.59 billion USD and grew to 3.00 billion USD. Net property and equipment also showed steady organic growth, increasing from 4.06 billion USD to 5.71 billion USD over the six-year period.
Other Asset Observations: Goodwill remained stagnant at 302.6 million USD for the majority of the period following an initial reduction. Deferred income taxes showed a gradual increase toward the end of the period, rising from 33.9 million USD in 2017 to 84.1 million USD in 2023, suggesting changes in taxable temporary differences.

The overall asset profile indicates a strategy of steady expansion in physical infrastructure and inventory capacity, complemented by a significant accounting adjustment for lease assets that fundamentally altered the long-term asset base.

AutoZone Inc. (NYSE:AZO)

Balance Sheet: Assets
Quarterly Data

Assets: Selected Items

Current Assets: Selected Items

AutoZone Inc. (NYSE:AZO)

Balance Sheet: AssetsQuarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data