Cash Flow Statement

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

AutoZone Inc., consolidated cash flow statement

US$ in thousands

12 months ended:	Aug 26, 2023	Aug 27, 2022	Aug 28, 2021	Aug 29, 2020	Aug 31, 2019	Aug 25, 2018
Net income	2,528,426)	2,429,604)	2,170,314)	1,732,972)	1,617,221)	1,337,536)
Depreciation and amortization of property and equipment	497,577)	442,223)	407,683)	397,466)	369,957)	345,084)
Other non-cash charges	44,000)	15,000)	—)	—)	—)	—)
Amortization of debt origination fees	9,264)	11,276)	12,858)	10,730)	8,162)	8,393)
Deferred income taxes	(25,707)	185,594)	(34,432)	51,077)	35,051)	(124,261)
Share-based compensation expense	93,087)	70,612)	56,112)	44,835)	43,255)	43,674)
Pension plan contributions	—)	—)	—)	—)	—)	(11,596)
Pension termination charges (refund)	—)	—)	—)	—)	(6,796)	130,263)
Asset impairment	—)	—)	—)	—)	—)	193,162)
Accounts receivable	(6,674)	(125,732)	(11,039)	(58,564)	(48,512)	7,534)
Merchandise inventories	(89,180)	(1,005,686)	(138,517)	(184,174)	(394,147)	(188,782)
Accounts payable and accrued expenses	(183,679)	1,224,692)	1,029,912)	531,131)	464,176)	319,609)
Income taxes	92,832)	(10,517)	29,467)	90,172)	(10,489)	(6,438)
Other, net	(19,158)	(25,931)	(3,815)	104,463)	50,635)	26,114)
Changes in operating assets and liabilities	(205,859)	56,826)	906,008)	483,028)	61,663)	158,037)
Adjustments to reconcile net income to net cash provided by operating activities	412,362)	781,531)	1,348,229)	987,136)	511,292)	742,756)
Net cash provided by operating activities	2,940,788)	3,211,135)	3,518,543)	2,720,108)	2,128,513)	2,080,292)
Capital expenditures	(796,657)	(672,391)	(621,767)	(457,736)	(496,050)	(521,788)
Proceeds from sale of assets	—)	—)	—)	—)	—)	35,279)
Purchase of marketable debt securities	(66,917)	(56,040)	(63,676)	(90,949)	(55,538)	(104,536)
Proceeds from sale of marketable debt securities	58,357)	53,882)	95,393)	84,237)	53,140)	69,644)
Investment in tax credit equity investments	(98,003)	(31,537)	(41,712)	(45,190)	—)	—)
Proceeds (payments) from disposal of capital assets and other, net	27,042)	57,987)	29,984)	11,763)	6,602)	(459)
Net cash used in investing activities	(876,178)	(648,099)	(601,778)	(497,875)	(491,846)	(521,860)
Net proceeds from (payments of) commercial paper	606,200)	603,400)	—)	(1,030,000)	(295,300)	170,200)
Proceeds from issuance of debt	1,750,000)	750,000)	—)	1,850,000)	750,000)	—)
Repayment of debt	(800,000)	(500,000)	(250,000)	(500,000)	(250,000)	(250,000)
Net proceeds from sale of common stock	182,494)	113,934)	187,757)	68,392)	188,819)	89,715)
Purchase of treasury stock	(3,699,552)	(4,359,991)	(3,378,321)	(930,903)	(2,004,896)	(1,592,013)
Repayment of principal portion of finance lease liabilities	(81,055)	(67,182)	(59,853)	(52,158)	(53,307)	(49,004)
Other, net	(18,169)	(10,658)	—)	(48,967)	(9,404)	(1,052)
Net cash used in financing activities	(2,060,082)	(3,470,497)	(3,500,417)	(643,636)	(1,674,088)	(1,632,154)
Effect of exchange rate changes on cash	8,146)	506)	4,172)	(4,082)	(4,103)	(1,724)
Net increase (decrease) in cash and cash equivalents	12,674)	(906,955)	(579,480)	1,574,515)	(41,524)	(75,446)
Cash and cash equivalents at beginning of period	264,380)	1,171,335)	1,750,815)	176,300)	217,824)	293,270)
Cash and cash equivalents at end of period	277,054)	264,380)	1,171,335)	1,750,815)	176,300)	217,824)

Based on: 10-K (reporting date: 2023-08-26), 10-K (reporting date: 2022-08-27), 10-K (reporting date: 2021-08-28), 10-K (reporting date: 2020-08-29), 10-K (reporting date: 2019-08-31), 10-K (reporting date: 2018-08-25).

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Cash flow statement item	Description	The company
Net cash provided by operating activities	Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.	AutoZone Inc. net cash provided by operating activities decreased from 2021 to 2022 and from 2022 to 2023.
Net cash used in investing activities	Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.	AutoZone Inc. net cash used in investing activities decreased from 2021 to 2022 and from 2022 to 2023.
Net cash used in financing activities	Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.	AutoZone Inc. net cash used in financing activities increased from 2021 to 2022 and from 2022 to 2023.

AutoZone Inc. (NYSE:AZO)

Cash Flow Statement