AutoZone by the Numbers

AutoZone by the Numbers

AutoZone by the Numbers
America's Number One
Vehicle Solutions Provider
As of May 8, 2010, AutoZone operates 4,521 auto parts stores, including 212 in
Mexico. Each store carries an extensive product line for cars, sport utility vehicles,
vans and light trucks, including new and remanufactured automotive hard parts,
maintenance items, accessories, and non-automotive products. Many stores also
have a commercial sales program that provides commercial credit and prompt delivery
of parts and other products to local, regional and national repair garages, dealers,
service stations, and public sector accounts. AutoZone also sells the ALLDATA brand
diagnostic and repair software. On the web, AutoZone sells diagnostic and repair
information, and auto and light truck parts through www.autozone.com. AutoZone
does not derive revenue from automotive repair or installation.

Each of our AutoZoners is committed to the highest level of customer service -

every store has AutoZoners equipped with the tools and knowledge necessary to
provide the highest level of technical advice and diagnostic support to our
customers. AutoZones's website, www.AutoZone.com, can be used to order parts
online or to look up parts in your local AutoZone store. The website is also a great
resource for helpful maintenance and repair information. Through ALLDATA, the
Company provides the most comprehensive electronic diagnostic and repair
information available to professional mechanics either online, on CD or DVD.

The Company was founded in 1979 and has been publicly held since 1991.
AutoZone stock trades on the New York Stock Exchange under the ticker symbol
"AZO" and is included in the Standard & Poor's 500 index. AutoZone is also
recognized on the list of Fortune 500 companies.

08/15/2010 07:23:19
 AutoZone by the Numbers

Historical Trends
Sales grew at a compound rate of 3.9% over the past five year

(in billions)
Sales
(in millions)
$5,711 $5,948 $6,170 $6,523 6,817

2005 2006 2007 2008 2009

Same store sales, or sales at domestic stores open greater than o

Domestic Same Store Sales Increases

12.0%
11.0%
10.0%
9.0%
8.0%
7.0%
6.0%
4.4%
5.0%
4.0%
3.0%
2.0%
0.4% 0.4%
1.0% 0.1%
0.0%
2005
(2.1%) 2006 2007 2008 2009

4
 AutoZone by the Numbers

Auto Parts Store Development

In FY09, we opened 140 new AutoZone stores in the U.S., replaced 9 and closed 3. In Mexico, we
opened 40 new stores. At the end of FY09 AutoZone had 4,229 stores in the U.S. and 188 stores in
Mexico.

In FY08, we opened 160 new AutoZone stores in the U.S., replaced 14 and closed 1. In Mexico, we
opened 25 new stores. At the end of FY08 AutoZone had 4,092 stores in the U.S. and 148 stores
in Mexico.

In FY07, we opened 163 new AutoZone stores in the U.S., replaced 18, and closed 1. In Mexico, we
opened 23 new stores. At the end of FY07 AutoZone had 3,933 stores in 48 states in the U.S. plus
the District of Columbia and Puerto Rico and 123 stores in Mexico.

In FY06, we opened 185 new AutoZone stores in the U.S., replaced 18 and closed 2. In Mexico, we
opened 19 new stores. At the end of FY06 AutoZone had 3,771 stores in 48 states in the U.S. plus
the District of Columbia and Puerto Rico and 100 stores in Mexico. At the end of the fiscal year 4
stores remain closed from hurricane damage.

In FY05, we opened 175 new AutoZone stores in the U.S., replaced 7 and closed 3. In Mexico, we
opened 18 new stores. At the end of FY05 AutoZone had 3,592 stores in 48 states in the U.S. plus
the District of Columbia and Puerto Rico and 81 stores in Mexico.

Net Increase in Total Auto Parts Stores Increase in Store Square Footage

1,000 50%

900

800 40%

700

600 30%

500

400 20%

300

200
10%
190 198 185 184 177
100
6% 6% 5% 5% 5%
0
2005 2006 2007 2008 2009 0%
2005 2006 2007 2008 2009

5
 AutoZone by the Numbers

Gross margin
Gross margin .....

In FY09 gross margin as a percent of sales was 50.1%. The improvement in gross
profit margin was primarily attributable to ongoing category management initiatives,
partially offset by increases in certain commodity costs.

Gross Margin

###
###
Gross Margin ###
51% ###
50% 50% ###
49% 50%
###
49% 49%
###
###
47% ###
###
45% ###
###
43% ###
###
###
41%
###

39%
2005 2006 2007 2008 2009

Operating expenses
Operating expenses .....

In FY09, net operating expenses were 32.9% of sales, resulting in an annual operating
margin of 17.3%.

Operating Selling, General & Administrative Expenses

as a Percent of Sales ###
###
40% ###
###
38% ###
###
###
36%
###
###
34% ###
33% 33% ###
32% 33%
32% 32% ###
###
###
30% ###
###
28%
2005 2006 2007 2008 2009

6
 AutoZone by the Numbers

Operating Margins
Operating margins ….

Operating margins were 17.3% in FY09. Fourth quarter operating margin was 18.7%.

Operating Margin
as a Percent of Sales
19%

17% 17% 17%

17% 17% 17%

15%

13%

11%

9%

7%
2005 2006 2007 2008 2009

Diluted Earnings Per Share

Diluted earnings per share increased 17% in FY09 to $11.73 on 56.0 million diluted shares.
Diluted earnings per share in FY08 were up 18% to $10.04 on 63.9 million shares.

Earnings Per Share

$14.00

$12.00

$10.00

$8.00

$6.00 $11.73
$10.04
$8.53
$4.00 $7.50
$7.18

$2.00

$0.00
2005 2006 2007 2008 2009

7
 AutoZone by the Numbers

Earnings Per Share

$2.50

$2.00 $0.84

$1.50

$1.00 $2.00
$1.63 $1.54
$1.48
$1.28
$0.50

$0.00
1997 1998 1999 2000 2001
Column M Column L

Cash Flow From Operations

AutoZone has strong cash flow from operations.

Cash from Operations

(in millions)

$513
$500
$459

$400 $383

$312
$300

$200 $178

Pgx
$100
 AutoZone by the Numbers

Historical Trends - Balance Sheet Analysis

Working Capital
Working Capital Working Capital less Cash
(in millions)
(in millions) (in millions)
$225 100

$300 50 43

$125 $118 0
(27)
$67 -50
$64
$200
$25 -100 (102)
($15)
-150
(175)
($75)
$100 -200

($145) (238)
-250
($175)
-300
$0 2005 2006 2007 2008 2009
$5 2005 2006 2007 2008 2009
2002 2003 2004

Working Capital Statistics (in thousands)

Working Working 5 Pt 5 Pt 5 Pt Net
Capital Capital less Average Average Accounts Average
Fiscal Working less Cash Cash & CE/ Inventory Inventory Accounts Payable/ Inventory
Year Capital & CE Sales Inventory Turns Days Payable Inventory Turns
2009 (145,022) (237,728) (3.5)% $2,207 1.55 235 $2,119 96% 23.05
2008 $66,981 ($175,480) (2.7)% $2,150 1.57 232 $2,043 95% 17.91
2007 ($15,439) ($102,093) (1.7)% $2,007 1.61 226 $1,871 93% 14.68
2006 $64,359 ($27,199) (0.5)% $1,847 1.74 210 $1,700 92% 14.43
2005 $118,300 $43,490 0.8% $1,664 1.80 202 $1,540 93% 16.04

9
 AutoZone by the Numbers

Inventories
FY09, inventories increased $57 million to $2.207billion. Inventory net of payables
decreased $18 million to $89 million.

Inventories (Total Company in millions)

$2,500

Inventory
$2,000 (in millions)
1989 165
1990 177
$1,500 1991 206
Column L 1992 198
Column M 1993 260
$1,000 1994 334

$500

$0
2005 2006 2007 2008 2009

Inventory per Store

Average Inventory Turns (in thousands)
(Total)*
$550
$507 $500
$495
2.6 $500 $477
$453
$450
2.4
$400
2.2
$350

2.0 $300
1.8 2005 2006 2007 2008 2009
1.8
2005 2006 2007 2008 2009

10
 AutoZone by the Numbers

Historical Trends - Returns

After-Tax Return on Invested Capital
(in thousands)
Fiscal Year Ended August
2009 2008 2007 2006 2005
Net income 657,049 $641,606 $595,672 $569,275 $571,019
Adjustments :
After-tax interest 90,456 74,355 75,793 68,089 65,533
After-tax rent 115,239 105,166 97,050 90,808 96,367
After-tax return 862,744 $821,127 $768,515 $728,172 $732,919

Average debt 2,477,233 $2,015,186 $1,955,652 $1,909,011 $1,969,639

Average equity (82,006) 353,411 478,853 510,657 316,639
Adjusted rent x 6 (1) 1,087,848 990,726 915,138 863,328 774,706
Average capital lease obligations (2) 58,512 60,824 30,538 - -
Pre-tax invested capital 3,541,587 $3,420,147 $3,380,181 $3,282,996 $3,060,984

ROIC 24.4% 24.0% 22.7% 22.2% 23.9%

(1) This calculation excludes the impact from cumulative lease accounting adjustments recorded in the second quarter of fiscal 2005.

(2) Average of the capital lease obligations relating to vehicle capital leases entered into at the beginning of fiscal 2007 is computed as the average over the
trailing 13 periods. Rent expense associated with the vehicles prior to the conversion to capital leases is included in the rent for purposes of calculating
return on invested capital.

11
Adjusted Debt to EBITDAR Comparisons
(in thousands)

Q3, F2010 Q2, F2010 Q1, F2010

Adjusted Debt / EBITDAR (Trailing 4 Qtrs)
May 8, 2010 February 13, 2010 November 21, 2009
Net income $705,504 $676,448 $668,979
Add: Interest 157,245 151,893 147,491
Taxes 401,522 385,296 381,482
EBIT $1,264,271 $1,213,637 $1,197,952

Add: Depreciation/Amortization 187,078 185,568 182,846

Rent expense 191,616 188,045 185,520
Option expense 18,858 18,697 18,932
EBITDAR 1,661,823 1,605,947 1,585,250

Debt 2,698,500 2,774,700 2,739,500

Capital lease obligations 63,337 51,713 53,004
Add : Adjusted rent x 6* 1,149,700 1,128,273 1,113,120
Adjusted Debt 3,911,537 3,954,686 3,905,624

Adjusted Debt to EBITDAR 2.4 2.5 2.5

Q3, F2009 Q2, F2009 Q1, F2009

Adjusted Debt / EBITDAR (Trailing 4 Qtrs)May 9, 2009 February 14, 2009 November 22, 2008
Net income $664,669 $649,620 $640,461
Add: Interest 129,319 123,167 119,849
Taxes 381,317 370,321 364,988
EBIT 1,175,305 1,143,108 1,125,298

Add: Depreciation/Amortization 176,073 172,916 169,970

Rent expense 179,055 173,897 170,644
Option expense 19,250 19,269 18,662
EBITDAR 1,549,683 1,509,190 1,484,574

Debt 2,405,900 2,690,755 2,268,200

Capital lease obligations 57,227 58,812 59,640
Add : Adjusted rent x 6* 1,074,322 1,043,382 1,023,864
Adjusted Debt 3,537,449 3,792,949 3,351,704

Adjusted Debt to EBITDAR 2.3 2.5 2.3

12
 Q4, F2009
August 29, 2009
$657,049
142,316
376,697
$1,176,062

180,433
181,309
19,135
1,556,939

2,726,900
54,764
1,087,848
3,869,512

2.5

Q4, F2008
August 30, 2008
$641,606
116,745
365,783
1,124,134

169,509
165,121
18,388
1,477,152

2,250,000
64,061
990,726
3,304,787

2.2

13
 AutoZone by the Numbers

Historical Income Statements

(in thousands, except per share data)

(GAAP Results) Results of Results of Results of Results of Results of

Operations Operations Operations Operations Operations
2009 (1) 2008 (1) 2007 (1) 2006 (1) 2005 (2) 1997
Net sales $6,816,824 $6,522,706 $6,169,804 $5,948,355 $5,710,882
###
Cost of sales, including
warehouse and delivery expenses 3,400,375 3,254,645 3,105,554 3,009,835 2,918,334
###
Gross profit 3,416,449 3,268,061 3,064,250 2,938,520 2,792,548
###
Operating, selling, general, and
administrative expenses 2,240,387 2,143,927 2,008,984 1,928,595 1,816,884
###
Operating profit 1,176,062 1,124,134 1,055,266 1,009,925 975,664
###
Interest expense, net (142,316) (116,745) (119,116) (107,889) (102,443)
###
Income before income taxes 1,033,746 1,007,389 936,150 902,036 873,221
###
Income taxes 376,697 365,783 340,478 332,761 302,202
###
Net income $657,049 $641,606 $595,672 $569,275 $571,019
###

Diluted earnings per share $11.73 $10.04 $8.53 $7.50 $7.18

###

Diluted weighted average shares outstanding 55,992 63,875 69,844 75,859 79,508
###

(Adjustments) Results of Results of Results of Results of Results of

Operations Operations Operations Operations Operations
2009 (1) 2008 (1) 2007 (1) 2006 (1) 2005 (2)
Net sales $- $(125,894) $- $- $-
Cost of sales, including
warehouse and delivery expenses - (62,700) - - -
Gross profit - (63,194) - - -
Operating, selling, general, and
administrative expenses - (36,087) - (17,370) (40,321)
Operating profit - (27,107) - 17,370 40,321
Interest expense, net - (2,340) - - -
Income before income taxes - (24,767) - 17,370 40,321
Income taxes - (8,967) - 6,408 36,248
Net income $- $(15,800) $- $10,962 $4,073

Diluted earnings per share $- $(0.24) $- $0.14 $0.05

Diluted weighted average shares outstanding 55,992 63,875 69,844 75,859 79,508

(Adjusted) Results of Results of Results of Results of Results of

Operations Operations Operations Operations Operations
2009 2008 2007 2006 (1) 2005 (2)
Net sales $6,816,824 $6,396,812 $6,169,804 $5,948,355 $5,710,882
Cost of sales, including
warehouse and delivery expenses 3,400,375 3,191,945 3,105,554 3,009,835 2,918,334
Gross profit 3,416,449 3,204,867 3,064,250 2,938,520 2,792,548
Operating, selling, general, and
administrative expenses 2,240,387 2,107,840 2,008,984 1,911,225 1,776,563
Operating profit 1,176,062 1,097,027 1,055,266 1,027,295 1,015,985
Interest income (expense) (142,316) (114,405) (119,116) (107,889) (102,443)
Income before income taxes 1,033,746 982,622 936,150 919,406 913,542
Income taxes 376,697 356,816 340,478 339,169 338,450
Net income $657,049 $625,806 $595,672 $580,237 $575,092

Diluted earnings per share $11.73 $9.80 $8.53 $7.65 $7.23

Diluted weighted average shares outstanding 55,992 63,875 69,844 75,859 79,508

Income Statement (percent to sales)

Results of Results of Results of Results of Results of

(Adjusted) Operations Operations Operations Operations Operations
2009 (1) 2008 (1) 2007 (1) 2006 (1) 2005 (2) ###
Net sales 100.0% 100.0% 100.0% 100.0% 100.0%
###
Cost of sales, including
warehouse and delivery expenses 49.9% 49.9% 50.3% 50.6% 51.1%
###
Gross margin 50.1% 50.1% 49.7% 49.4% 48.9%
###
Operating, selling, general, and
administrative expenses 32.9% 33.0% 32.6% 32.1% 31.1%
###
Operating profit 17.2% 17.1% 17.1% 17.3% 17.8%
###
Interest expense, net (2.1%) (1.8%) (1.9%) (1.8%) (1.8%)
###
Income before income taxes 15.1% 15.4% 15.2% 15.5% 16.0%
###

Income taxes 5.5% 5.6% 5.5% 5.7% 5.9%

###
Net income 9.6% 9.8% 9.7% 9.8% 10.1%
###

(1) Fiscal 2006 operating results contain a $17.4 million pre-tax non-cash expense for share-based compensation as a result of the
adoption of SFAS 123 ® at the beginning of fiscal 2006.

(2) Fiscal 2005 operating results include a $40.3 million pre-tax (or $25.4 million net of tax) non-cash charge related to lease
accounting which includes the impact on prior years and reflects additional amortization of leasehold improvements and
additional rent expense, and a $21.3 million income tax benefit from the planned one-time repatriation from our Mexican
operations and other discrete tax benefits.

14
 AutoZone by the Numbers

Historical Income Statements

(in thousands, except per share data)

1998 1997 1996* 1995 1994

###
Net sales $3,242,922 $2,691,440 $2,242,633 $1,808,131 ###
$1,508,029
Cost of sales, including
warehouse and delivery expenses 1,889,847 1,559,296 1,307,638 1,057,033 ###
886,068
Gross profit 1,353,075 1,132,144 934,995 751,098 ###
621,961
Operating, selling, general, and
administrative expenses 970,768 810,793 666,061 523,440 ###
431,219
Operating profit 382,307 321,351 268,934 227,658 ###
190,742
Interest income (expense) (18,204) (8,843) (1,969) 623 ###
2,244
Income before income taxes 364,103 312,508 266,965 228,281 ###
192,986
Income taxes 136,200 117,500 99,800 89,500 ###
76,600
Net income $227,903 $195,008 $167,165 $138,781 ###
$116,386

Diluted earnings per share $1.48 $1.28 $1.11 $0.93 ###

$0.78

Diluted weighted average shares outstanding 154,070 152,535 151,238 149,302 ###
148,726

Income Statement (percent to sales)

1998 1997 1996 1995 1994

###
Net sales 100.0% 100.0% 100.0% 100.0% 100.0%
###
Cost of sales, including
warehouse and delivery expenses 58.3% 57.9% 58.3% 58.5% 58.8%
###
Gross margin 41.7% 42.1% 41.7% 41.5% 41.2%
###
Operating, selling, general, and
administrative expenses 29.9% 30.1% 29.7% 28.9% 28.6%
###
Operating profit 11.8% 11.9% 12.0% 12.6% 12.6%
###
Interest income (expense) (0.6%) (0.3%) (0.1%) 0.0% ###
0.1%
Income before income taxes 11.2% 11.6% 11.9% 12.6% ###
12.8%

Income taxes 4.2% 4.4% 4.5% 4.9% ###

5.1%
Net income 7.0% 7.2% 7.5% 7.7% ###
7.7%

* 1996 includes an extra week

Pg 11b
 AutoZone by the Numbers

Historical Balance Sheets

(in thousands)

Assets 2009 2008 2007 2006 2005

Current Assets:
Cash and cash equivalents $92,706 $242,461 $86,654 $91,558 $74,810
Accounts receivable 126,514 71,241 59,876 80,363 118,263
Merchandise inventories 2,207,497 2,150,109 2,007,430 1,846,650 1,663,860
Other current assets 135,013 122,490 116,495 100,356 72,526
Deferred income taxes - - - - -
Total current assets $2,561,730 2,586,301 2,270,455 2,118,927 1,929,459

Property and equipment:

Land 656,516 643,699 625,992 588,444 559,231
Building and improvements 1,900,610 1,814,668 1,720,172 1,566,002 1,450,814
Equipment 887,521 850,679 780,199 729,426 662,495
Leasehold improvements 219,606 202,098 183,601 165,577 150,846
Construction in progress 145,161 128,133 85,581 134,359 155,251
3,809,414 3,639,277 3,395,545 3,183,808 2,978,637

Less: Accumulated depreciation and amortization 1,455,057 1,349,621 1,217,703 1,132,500 1,041,022
2,354,357 2,289,656 2,177,842 2,051,308 1,937,615

Goodwill, net of accumulated amortization 302,645 302,645 302,645 302,645 302,699

Deferred income taxes 59,067 38,283 21,331 20,643 32,917
Other long-term assets 40,606 40,227 32,436 32,783 42,567
402,318 381,155 356,412 356,071 378,183
$5,318,405 $5,257,112 $4,804,709 $4,526,306 $4,245,257

Liabilities and Stockholders' Equity

Current Liabilities:
Accounts payable $2,118,746 $2,043,271 $1,870,668 $1,699,667 $1,539,776
Accrued expenses and other 381,271 327,664 307,633 280,419 255,672
Income taxes payable 35,145 11,582 25,442 24,378 4,753
Deferred income taxes 171,590 136,803 82,152 50,104 10,958
Total current liabilities $2,706,752 2,519,320 2,285,895 2,054,568 1,811,159

Long-term debt 2,726,900 2,250,000 1,935,618 1,857,157 1,861,850

Other liabilities 313,550 258,105 179,996 145,053 181,241
Deferred income taxes 4,277 - - - -
Stockholders' equity (433,074) 229,687 403,200 469,528 391,007
$5,318,405 $5,257,112 $4,804,709 $4,526,306 $4,245,257

16
 AutoZone by the Numbers

Historical Cash Flow Statements

(in thousands)

2009 2008 2007 2006 2005

Cash flows from operating activities:
Net income $657,049 $641,606 $595,672 $569,275 $571,019
Adjustments to reconcile net income to net cash
provided by operating activities:
Depreciation and amortization of property and equipment 180,433 169,509 159,411 139,465 135,597
Deferred rent liability adjustment - - - - 21,527
Amortization of debt origination fees 3,644 1,837 1,719 1,559 2,343
Income tax benefit realized from exercise of options (8,407) (10,142) (16,523) (10,608) 31,828
Deferred income taxes 46,318 67,474 24,844 36,306 (16,628)
Income from warranty negotiations - - - - (1,736)
Share based compensation expense 19,135 18,388 18,462 17,370 -
Changes in operating assets and liabilities:
Accounts receivable (56,823) (11,145) 20,487 37,900 (42,485)
Merchandise inventories (76,337) (137,841) (160,780) (182,790) (124,566)
Accounts payable and accrued expenses 137,158 175,733 186,228 184,986 109,341
Income taxes payable 32,264 (3,861) 17,587 28,676 (67,343)
Other, net (10,626) 9,542 (1,913) 608 29,186
Net cash provided by operating activities 923,808 921,100 845,194 822,747 648,083

Cash flows from investing activities:

Capital expenditures (272,247) (243,594) (224,474) (263,580) (283,478)
Purchase of marketable securities (48,444) (54,282) (94,615) (159,957) -
Proceeds from sale of investments 46,306 50,712 86,921 145,369 -
Acquisitions - - - - (3,090)
Disposal of capital assets 10,663 4,014 3,453 9,845 3,797
Net cash used in investing activities (263,722) (243,150) (228,715) (268,323) (282,771)

Cash flows from financing activities:

Net (repayments of) proceeds from commercial paper 277,600 (206,700) 84,300 (51,993) (304,700)
Proceeds from issuance of debt 500,000 750,000 - 200,000 300,000
Repayment of Senior Notes (300,700) (229,827) (5,839) (152,700) -
Net proceeds from sale of common stock 39,855 27,065 58,952 38,253 64,547
Purchase of treasury stock (1,300,002) (849,196) (761,887) (578,066) (426,852)
Settlement of interest rate hedge instruments - - - - -
Income tax benefit from exercise of stock options 8,407 10,142 16,523 10,608 -
Payment of capital lease obligations (17,040) (15,880) (11,360) - -
Other (15,016) (8,286) (2,072) (3,778) (349)
Net cash used in financing activities (806,896) (522,682) (621,383) (537,676) (367,354)

Effect of exchange-rate changes on cash (2,945) 539 - - -

Net increase (decrease) in cash and cash equivalents (149,755) 155,807 (4,904) 16,748 (2,042)
Cash and cash equivalents at beginning of year 242,461 86,654 91,558 74,810 76,852
Cash and cash equivalents at end of year 92,706 242,461 86,654 91,558 74,810

Supplemental cash flow information:

Interest paid, net of interest cost capitalized $132,905 $107,477 $116,580 $104,929 $98,937
Income taxes paid $299,021 $313,875 $299,566 $267,913 $339,245
Assets acquired through capital lease $16,880 $61,572 $69,325 $- $-

17
Calculation of Trailing Yer

First Second YTD Trailing Third Fourth

Fiscal 2002
Net sales $1,176,052 $1,081,311 $2,257,363 ###
Cost of sales, including
warehouse and delivery expenses 659,916 606,411 1,266,327 2,846,423
Gross profit 516,136 474,900 991,036 2,191,560
Operating, selling, general, and
administrative expenses 360,632 353,751 714,383 1,558,442
Operating profit 155,504 121,149 276,653 633,118
Interest income (expense) (19,427) (18,278) (37,705) (89,846)
Income before income taxes 136,077 102,871 238,948 543,272
Income taxes 52,000 39,100 91,100 209,600
Net income $84,077 $63,771 $147,848 $333,672

Shares outstanding 110,605 109,797 110,201 111,229

Net income per share $0.76 $0.58 $1.34 $3.00

Sales increase over prior year 10.6% 11.0% 10.8% 9.8%
Operating profit increase 40.4% 56.8% 47.1% 23.1%
Net income increase (decrease) 56.3% 100.9% 72.9% 29.3%

Fiscal 2001 *
Net sales $1,063,566 $973,999 $2,037,565 ### $1,139,957 $1,640,663 $2,780,620

Cost of sales, including

warehouse and delivery expenses 618,001 576,666 1,194,667 2,676,360 657,379 922,717 1,580,096
Gross profit 445,565 397,333 842,898 1,913,265 482,578 717,946 1,200,524
Operating, selling, general, and
administrative expenses 334,797 320,053 654,850 1,398,958 349,512 494,547 844,059
Operating profit 110,768 77,280 188,048 514,307 133,066 223,399 356,465
Interest income (expense) (22,980) (25,544) (48,524) (94,298) (23,841) (28,300) (52,141)
Income before income taxes 87,788 51,736 139,524 420,009 109,225 195,099 304,324
Income taxes 34,000 20,000 54,000 162,000 42,500 76,000 118,500
Net income $53,788 $31,736 $85,524 $258,009 $66,725 $119,099 $185,824

Shares outstanding 117050 114,496 115,773 113,037 111,415 112,110

Net income per share 46.0% $0.28 $0.59 $1.07

 AutoZone by the Numbers

Quarterly Summary (1) - 2010, 2009, 2008

Income Statement (in thousands, except per share data) Income Statement (percent to sales)

First Second Third Fourth First Second Third Fourth

Fiscal 2010
Net sales ### ### ### 100.0% 100.0% 100.0%
Cost of sales, including
warehouse and delivery expenses 789,320 752,489 898,869 49.7% 50.0% 49.3%
Gross profit 799,924 753,736 923,121 50.3% 50.0% 50.7%
Operating, selling, general, and
administrative expenses 539,496 523,355 567,256 33.9% 34.7% 31.1%
Operating profit 260,428 230,381 355,865 16.4% 15.3% 19.5%
Interest expense, net (36,340) (36,309) (36,833) (2.3%) (2.4)% (2.0)%
Income before income taxes 224,088 194,072 319,032 14.1% 12.9% 17.5%
Income taxes 80,788 70,739 116,287 5.1% 4.7% 6.4%
Net income $143,300 $123,333 $202,745 9.0% 8.2% 11.1%

Diluted weighted average shares outstanding 50,824 50,186 49,212

Diluted earnings per share $2.82 $2.46 $4.12

Sales increase over prior year 7.5% 4.0% 9.9%
Operating profit increase (decrease) 9.2% 7.3% 16.6%
Net income increase (decrease) 9.1% 6.4% 16.7%

First Second Third Fourth First Second Third Fourth

Fiscal 2009
Net sales ### ### ### ### 100.0% 100.0% 100.0% 100.0%
Cost of sales, including
warehouse and delivery expenses 737,101 728,579 825,253 1,109,441 49.9% 50.3% 49.8% 49.7%
Gross profit 741,191 719,298 832,907 1,123,053 50.1% 49.7% 50.2% 50.3%
Operating, selling, general, and
administrative expenses 502,652 504,602 527,675 705,457 34.0% 34.9% 31.8% 31.6%
Operating profit 238,539 214,696 305,232 417,596 16.1% 14.8% 18.4% 18.7%
Interest expense, net (31,166) (31,907) (31,482) (47,762) (2.1%) (2.2%) (1.9%) (2.1%)
Income before income taxes 207,373 182,789 273,750 369,834 14.0% 12.6% 16.5% 16.6%
Income taxes 76,002 66,925 100,061 133,709 5.1% 4.6% 6.0% 6.0%
Net income $131,371 $115,864 $173,689 $236,126 8.9% 8.0% 10.5% 10.6%

Diluted weighted average shares outstanding 58,915 57,165 55,456 53,323

Diluted earnings per share $2.23 $2.03 $3.13 $4.43

Sales increase over prior year 1.6% 8.1% 9.3% 1.0%
Operating profit increase (decrease) 0.5% 9.0% 11.8% 0.2%
Net income increase (decrease) (0.9)% 8.6% 9.5% (3.1)%

First Second Third Fourth First Second Third Fourth

Fiscal 2008
Net sales ### ### ### ### 100.0% 100.0% 100.0% 100.0%
Cost of sales, including
warehouse and delivery expenses 729,207 671,449 755,287 1,098,702 50.1% 50.1% 49.8% 49.7%
Gross profit 726,448 667,795 762,006 1,111,812 49.9% 49.9% 50.2% 50.3%
Operating, selling, general, and
administrative expenses 489,073 470,910 488,972 694,973 33.6% 35.2% 32.2% 31.4%
Operating profit 237,375 196,885 273,034 416,839 16.3% 14.7% 18.0% 18.9%
Interest expense, net (28,062) (28,588) (25,331) (34,764) (1.9%) (2.1%) (1.7%) (1.6%)
Income before income taxes 209,313 168,297 247,703 382,075 14.4% 12.6% 16.3% 17.3%
Income taxes 76,797 61,593 89,065 138,328 5.3% 4.6% 5.9% 6.3%
Net income $132,516 $106,704 $158,638 $243,747 9.1% 8.0% 10.5% 11.0%

Diluted weighted average shares outstanding 65,444 63,740 63,792 62,861

Diluted earnings per share $2.02 $1.67 $2.49 $3.88

Sales increase over prior year 4.5% 3.0% 3.0% 10.4%
Operating profit increase (decrease) 6.4% 4.2% 3.0% 10.2%
Net income increase (decrease) 7.0% 3.6% 4.6% 12.2%

(1) The sum of quarterly amounts may not equal the annual amounts reported due to rounding and due to per share amounts being computed independently
for each quarter while the full year is based on the annual weighted average shares outstanding.

19
 AutoZone by the Numbers

Quarterly Summary - 2007, 2006

(in thousands, except per share data)

First Second Third Fourth First Second Third Fourth

Fiscal 2007
Net sales ### ### ### ### 100.0% 100.0% 100.0% 100.0%
Cost of sales, including
warehouse and delivery expenses 707,774 661,145 738,272 998,363 50.8% 50.8% 50.1% 49.9%
Gross profit 685,295 639,212 735,399 1,004,344 49.2% 49.2% 49.9% 50.1%
Operating, selling, general, and
administrative expenses 462,299 450,289 470,422 625,975 33.2% 34.6% 31.9% 31.3%
Operating profit 222,996 188,923 264,977 378,369 16.0% 14.5% 18.0% 18.9%
Interest expense, net (27,093) (26,818) (27,115) (38,090) (1.9%) (2.1%) (1.8%) (1.9%)
Income before income taxes 195,903 162,105 237,862 340,279 14.1% 12.5% 16.1% 17.0%
Income taxes 72,014 59,089 86,271 123,104 5.2% 4.5% 5.9% 6.1%
Net income $123,889 $103,016 $151,591 $217,175 8.9% 7.9% 10.3% 10.8%

Diluted weighted average shares outstanding

71,813 71,227 69,901 67,287

Diluted earnings per share $1.73 $1.45 $2.17 $3.23

Sales increase over prior year 4.1% 3.7% 4.0% 3.3%
Operating profit increase (decrease) 8.6% 5.9% 4.7% 1.4%
Net income increase (decrease) 8.3% 6.2% 5.0% 1.7%

First Second Third Fourth First Second Third Fourth

Fiscal 2006 (2)
Net sales ### ### ### ### 100.0% 100.0% 100.0% 100.0%
Cost of sales, including
warehouse and delivery expenses 682,547 637,625 713,392 976,270 51.0% 50.9% 50.3% 50.3%
Gross profit 655,529 616,190 704,041 962,761 49.0% 49.1% 49.7% 49.7%
Operating, selling, general, and
administrative expenses 450,236 437,845 450,872 589,643 33.6% 34.9% 31.8% 30.4%
Operating profit 205,293 178,345 253,169 373,118 15.3% 14.2% 17.9% 19.2%
Interest expense, net (23,739) (24,333) (24,921) (34,896) (1.8%) (1.9%) (1.8%) (1.8%)
Income before income taxes 181,554 154,012 228,248 338,222 13.6% 12.3% 16.1% 17.4%
Income taxes 67,180 56,990 83,820 124,771 5.0% 4.5% 5.9% 6.4%

Net income $114,374 $97,022 $144,428 $213,451 8.5% 7.7% 10.2% 11.0%

Diluted weighted average shares outstanding

77,152 77,474 76,583 73,133

Diluted earnings per share $1.48 $1.25 $1.89 $2.92

Sales increase over prior year 4.0% 4.1% 5.9% 3.0%
Operating profit increase (decrease) (5.1)% 19.9% (2.4)% 6.2%
Net income increase (decrease) (6.7)% 3.1% (2.3)% 3.3%

(2)The first quarter of fiscal 2006 includes $3.7MM in share-based compensation expense related to the adoption of SFAS No. 123R.
The second quarter of fiscal 2006 includes $4.2MM in share-based compensation expense related to the adoption of SFAS No. 123R.
The third quarter of fiscal 2006 includes $4.2MM in share-based compensation expense related to the adoption of SFAS No. 123R. The
fourth quarter of fiscal 2006 includes $5.3MM in share-based compensation expense related to the adoption of SFAS No. 123R.

20
 AutoZone by the Numbers

Quarterly Statistics
First Second Third Fourth Year
Total Company sales (in thousands)
2010 1,589,244 1,506,225 1,821,990 4,917,459
2009 1,478,292 1,447,877 1,658,160 2,232,494 6,816,824
2008 1,455,655 1,339,244 1,517,293 2,210,514 6,522,706
2007 1,393,069 1,300,357 1,473,671 2,002,707 6,169,804
2006 1,338,076 1,253,815 1,417,433 1,939,031 5,948,355
Total Company sales increase over prior year
2010 7.5% 4.0% 9.9% 7.3%
2009 1.6% 8.1% 9.3% 1.0% 4.5%
2008 4.5% 3.0% 3.0% 10.4% 5.7%
2007 4.1% 3.7% 4.0% 3.3% 3.7%
2006 4.0% 4.1% 5.9% 3.0% 4.2%
Increase in domestic comparable store sales - Rolling 13 Periods
2010 5.6% 1.0% 7.1% 4.7%
2009 (1.5%) 6.0% 7.4% 5.4% 4.4%
2008 1.3% (0.3%) (0.3%) 0.6% 0.4%
2007 0.3% (0.3%) 0.4% (0.2%) 0.1%
2006 0.8% 0.4% 2.1% (0.9%) 0.4%
Net income (in thousands)
2010 143,300 123,333 202,745 469,378
2009 131,371 115,864 173,689 236,126 657,049
2008 132,516 106,704 158,638 243,747 641,606
2007 123,889 103,016 151,591 217,175 595,672
2006 114,374 97,022 144,428 213,451 569,275
Net earnings percent to sales
2010 9.0% 8.2% 11.1% 9.5%
2009 8.9% 8.0% 10.5% 10.6% 9.6%
2008 9.1% 8.0% 10.5% 11.0% 9.8%
2007 8.9% 7.9% 10.3% 10.8% 9.7%
2006 8.5% 7.7% 10.2% 11.0% 9.6%
Diluted earnings per share
2010 2.82 2.46 4.12 9.37
2009 2.23 2.03 3.13 4.43 11.73
2008 2.02 1.67 2.49 3.88 10.04
2007 1.73 1.45 2.17 3.23 8.53
2006 1.48 1.25 1.89 2.92 7.50
Gross margin
2010 50.3% 50.0% 50.7% 50.4%
2009 50.1% 49.7% 50.2% 50.3% 50.1%
2008 49.9% 49.9% 50.2% 50.3% 50.1%
2007 49.2% 49.2% 49.9% 50.1% 49.7%
2006 49.0% 49.1% 49.7% 49.7% 49.4%
Operating expenses percent to sales
2010 33.9% 34.7% 31.1% 33.1%
2009 34.0% 34.9% 31.8% 31.6% 32.9%
2008 33.6% 35.2% 32.2% 31.4% 32.9%
2007 33.2% 34.6% 31.9% 31.3% 32.6%
2006 33.6% 34.9% 31.8% 30.4% 32.4%
Operating profit percent to sales
2010 16.4% 15.3% 19.5% 17.2%
2009 16.1% 14.8% 18.4% 18.7% 17.3%
2008 16.3% 14.7% 18.0% 18.9% 17.2%
2007 16.0% 14.5% 18.0% 18.9% 17.1%
2006 15.3% 14.2% 17.9% 19.2% 17.0%

21
 AutoZone by the Numbers

Quarterly Statistics
First Second Third Fourth Year
Net change in total auto parts stores
2010 41 33 30 104
2009 32 27 41 77 177
2008 40 32 34 78 184
2007 41 43 36 65 185
2006 23 47 48 80 198
Total domestic auto parts stores
2010 4,265 4,289 4,309
2009 4,122 4,141 4,172 4,229 4,229
2008 3,972 4,000 4,032 4,085 4,085
2007 3,812 3,847 3,881 3,933 3,933
2006 3,612 3,655 3,699 3,771 3,771
Total Mexico auto parts store count
2010 193 202 212
2009 150 158 168 188 188
2008 124 128 130 148 148
2007 100 108 110 123 123
2006 84 88 92 100 100
Total domestic auto parts store square footage (in thousands)
2010 27,444 27,607 27,744
2009 26,443 26,573 26,805 27,193 27,193
2008 25,397 25,590 25,819 26,236 26,236
2007 24,300 24,543 24,782 25,135 25,135
2006 22,937 23,221 23,524 24,016 24,016
Total Mexico auto parts store square footage (in thousands)
2010 1,394 1,461 1,536
2009 1,207 1,357 1,357
Average square footage per domestic auto parts store
2009 6,415 6,417
2008 6,394 6,398 6,404 6,423 6,423
2007 6,375 6,380 6,385 6,391 6,391
2006 6,350 6,353 6,360 6,369 6,369
Average square footage per auto parts store
2010 6,469 6,473 6,476
2009 6,454 6,464 6,464
Average net sales per domestic auto parts store (in thousands)
2009 339 329
2008 349 315 357 515 1,539
2007 351 321 363 488 1,525
2006 357 329 370 496 1,546
Average net sales per auto parts store (in thousands)
2010 351 329 397
2009 376 499 1,541
Average net sales per domestic auto parts store square foot
2009 53 51
2008 55 49 56 80 240
2007 55 50 57 76 238
2006 56 52 58 78 243
Average net sales per auto parts store square foot
2010 54 51 61
2009 58 77 239
Commercial store count
2010 2,312 2,321 2,340
2009 2,240 2,252 2,276 2,303 2,303
2008 2,188 2,223 2,233 2,236 2,236
2007 2,140 2,154 2,157 2,182 2,182
2006 2,103 2,107 2,123 2,134 2,134

22
 AutoZone by the Numbers

Historical Trend - Store Growth

AutoZone Stores by Location
Net
Additions Total
2005 2006 2007 2008 2009 2010 2010
Alabama 85 88 90 90 97 2 99
Arizona 94 105 110 116 119 1 120
Arkansas 54 55 59 59 59 - 59
California 413 418 428 438 447 7 454
Colorado 51 54 55 58 62 2 64
Connecticut 29 29 31 32 35 - 35
Delaware 9 9 10 10 10 - 10
Florida 162 170 173 185 196 13 209
Georgia 133 149 160 171 175 (1) 174
Idaho 16 18 18 18 19 - 19
Illinois 172 180 192 197 208 2 210
Indiana 116 120 125 131 137 2 139
Iowa 22 22 22 22 23 - 23
Kansas 37 37 37 38 38 - 38
Kentucky 68 71 74 75 78 1 79
Louisiana 90 86 97 105 108 - 108
Maine 6 6 6 6 6 - 6
Maryland 35 37 38 38 39 1 40
Massachusetts 66 66 66 66 66 2 68
Michigan 131 132 133 140 145 1 146
Minnesota 21 21 22 23 25 1 26
Mississippi 75 76 81 84 85 - 85
Missouri 83 88 90 95 100 - 100
Montana 1 1 1 1 1 - 1
Nebraska 9 13 13 14 14 - 14
Nevada 36 40 42 48 49 1 50
New Hampshire 15 15 16 16 16 - 16
New Jersey 47 50 57 58 61 2 63
New Mexico 44 52 54 57 58 3 61
New York 109 111 112 114 114 5 119
North Carolina 128 136 145 157 164 4 168
North Dakota 2 2 2 1 1 - 1
Ohio 197 203 205 211 219 7 226
Oklahoma 66 66 66 66 67 - 67
Oregon 22 25 25 27 27 - 27
Pennsylvania 93 98 101 107 109 3 112
Puerto Rico 2 12 15 17 21 2 23
Rhode Island 15 15 15 15 15 - 15
South Carolina 61 66 68 73 75 1 76
South Dakota 1 1 1 2 2 - 2
Tennessee 129 138 145 150 150 3 153
Texas 432 457 492 512 525 10 535
Utah 31 34 34 34 39 - 39
Vermont 1 1 1 1 1 - 1
Virginia 74 78 81 82 87 3 90
Washington 32 39 44 48 53 2 55
Washington. DC 6 6 6 6 6 - 6
West Virginia 22 22 22 23 23 - 23
Wisconsin 44 48 48 50 50 - 50
Wyoming 5 5 5 5 5 - 5

Domestic Total 3,592 3,771 3,933 4,092 4,229 80 4,309

Mexico 81 100 123 148 188 24 212

Total Company 3,673 3,871 4,056 4,240 4,417 104 4,521

23
 AutoZone by the Numbers

Store Development

Stores Opened, Replaced, and Closed

2009 2008 2007 2006 (1) 2005

Beginning Domestic Stores 4,092 3,933 3,771 3,592 3,420
New Stores 140 160 163 185 175
Closed Stores 3 1 1 6 3
Net New Stores 137 159 162 179 172
Relocated Stores 9 14 18 18 7
Ending Domestic Stores 4,229 4,092 3,933 3,771 3,592
Ending Mexico Stores 188 148 123 100 81
Ending Total Stores 4,417 4,240 4,056 3,871 3,673

(1) Fiscal 2006 closed store count reflects 4 stores remaining closed at year-end as a result of hurricane damage.

Average Cost to Build a Store (Domestic)

2009 2008 2007 2006 2005

Land $388,046 $412,287 $464,000 $431,000 $450,000
Building 837,867 856,881 864,000 780,000 683,000
Equipment, etc. 119,429 110,868 100,700 96,000 96,000

Total Cost $1,345,342 $1,380,036 $1,428,700 $1,307,000 $1,229,000

Stores Owned vs. Leased (Total Auto Parts)

2009 2008
Stores % Stores %
Leased stores 2,171 49% 2,027 48%
Owned stores 2,246 51% 2,213 52%

4,417 100% 4,240 100%

24