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)

Cash and cash equivalents: The cash and cash equivalents balance fluctuated substantially over the observed periods, initially declining from approximately $257.7 million in late 2017 to a low near $158.1 million by late 2019. A significant spike occurred in May 2020, reaching over $1.75 billion, followed by a decrease and stabilization around $275–$285 million in the most recent quarters. This pattern suggests a major one-time inflow or liquidity event in 2020, with a return to lower but stable liquidity levels thereafter.
Accounts receivable: Accounts receivable showed a generally upward trend, increasing from roughly $272.5 million in late 2017 to over $511.9 million by late 2023. The growth was fairly steady with minor fluctuations, reflecting possibly expanding credit sales or increased revenue generation on credit terms.
Merchandise inventories: Inventory levels exhibited continuous growth throughout the periods, rising from about $4.0 billion in late 2017 to nearly $5.8 billion in late 2023. The trend indicates consistent inventory build-up, which could imply business expansion, stocking ahead of demand, or changes in inventory management strategies.
Other current assets: Other current assets generally increased, albeit with some volatility. Starting at approximately $175 million, the figure rose to a peak around $387 million in the last period analyzed. Some periods showed declines, but the overall direction points to accumulation or recognition of other short-term asset components.
Current assets: Overall current assets mirrored the trends in cash, receivables, inventories, and other current assets, rising from $4.7 billion to nearly $7.0 billion over the time frame. This represents significant growth in liquid and near-liquid assets, signaling enhanced working capital availability or operational scale.
Property and equipment: Property and equipment increased steadily from about $6.95 billion to $10.55 billion, indicating ongoing capital expenditures and asset base expansion.
Accumulated depreciation and amortization: This accumulated balance deepened over time, moving from approximately $2.89 billion in depreciation and amortization in 2017 to about $4.84 billion by late 2023. The trend is consistent with asset aging and usage concomitant with asset growth.
Net property and equipment: After accounting for depreciation, the net property and equipment showed consistent growth from roughly $4.06 billion up to $5.71 billion, maintaining a positive net book value trajectory that supports asset base growth despite depreciation.
Operating lease right-of-use assets: Starting from zero in earlier periods, these assets appeared around late 2019 at about $2.59 billion and gradually increased to nearly $3.0 billion by 2023, reflecting adoption and growth of leasing obligations recognized under updated accounting standards.
Goodwill: Goodwill declined sharply between the first and second quarters from about $391.9 million to $302.6 million, and then remained stable, indicating a one-time impairment or adjustment followed by stability in intangible asset valuation.
Deferred income taxes: Deferred income taxes fluctuated but showed a moderate increasing trend from around $34 million to $84 million as of late 2023, possibly reflecting changes in tax timing differences or liabilities.
Other long-term assets: Other long-term assets showed moderate volatility but generally increased from roughly $193 million to $237 million, suggesting stable to increasing investment in miscellaneous long-term resources.
Long-term assets: The total long-term assets grew substantially, particularly around late 2019 with a jump to over $7.5 billion, continuing upward to above $9.3 billion by 2023. This reflects asset base expansion, including property and lease-related rights-of-use assets.
Total assets: Total assets demonstrated significant growth over the analyzed periods, increasing from approximately $9.4 billion to $16.3 billion. The large jump in assets around late 2019 corresponds with the increase in leased assets and property investments, underscoring substantial growth in overall asset capacity.

Assets: Selected Items

Download chart

Current Assets: Selected Items

Download chart

AutoZone Inc. (NYSE:AZO)

Balance Sheet: AssetsQuarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data