Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

AutoZone Inc., consolidated income 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 sales	17,457,209)	16,252,230)	14,629,585)	12,631,967)	11,863,743)	11,221,077)
Cost of sales, including warehouse and delivery expenses	(8,386,787)	(7,779,580)	(6,911,800)	(5,861,214)	(5,498,742)	(5,247,331)
Gross profit	9,070,422)	8,472,650)	7,717,785)	6,770,753)	6,365,001)	5,973,746)
Operating, selling, general and administrative expenses	(5,596,436)	(5,201,921)	(4,773,258)	(4,353,074)	(4,148,864)	(4,162,890)
Operating profit	3,473,986)	3,270,729)	2,944,527)	2,417,679)	2,216,137)	1,810,856)
Interest expense, less capitalized interest	(318,426)	(197,686)	(200,754)	(206,854)	(192,200)	(180,163)
Interest income	12,054)	6,048)	5,417)	5,689)	7,396)	5,636)
Interest expense, net	(306,372)	(191,638)	(195,337)	(201,165)	(184,804)	(174,527)
Income before income taxes	3,167,614)	3,079,091)	2,749,190)	2,216,514)	2,031,333)	1,636,329)
Income tax expense	(639,188)	(649,487)	(578,876)	(483,542)	(414,112)	(298,793)
Net income	2,528,426)	2,429,604)	2,170,314)	1,732,972)	1,617,221)	1,337,536)

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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Income statement item	Description	The company
Net sales	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	AutoZone Inc. net sales increased from 2021 to 2022 and from 2022 to 2023.
Operating profit	The net result for the period of deducting operating expenses from operating revenues.	AutoZone Inc. operating profit increased from 2021 to 2022 and from 2022 to 2023.
Income before income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	AutoZone Inc. income before income taxes increased from 2021 to 2022 and from 2022 to 2023.
Net income	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	AutoZone Inc. net income increased from 2021 to 2022 and from 2022 to 2023.

AutoZone Inc. (NYSE:AZO)

Income Statement