ADVANCE AUTO PARTS INC - Quarter Report: 2025 July (Form 10-Q)

))Dividends paid()()Purchase of noncontrolling interest ()Proceeds from the issuance of common stock Repurchases of common stock()()Other, net()()Net cash used in financing activities()()Effect of exchange rate changes on cash Net decrease in cash and cash equivalents()()

Cash and cash equivalents, beginning of period

Cash and cash equivalents, end of period

$ $

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	Twenty-Eight Weeks Ended
	July 12, 2025	July 13, 2024

Non-cash transactions of continuing operations:
Accrued purchases of property and equipment	$	$

Summary of cash and cash equivalents:
Cash and cash equivalents of continuing operations, end of period
Cash and cash equivalents of discontinued operations, end of period
Cash and cash equivalents, end of period	$	$

The accompanying notes to the condensed consolidated financial statements are an integral part of these statements.

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Advance Auto Parts, Inc. and Subsidiaries

Notes to the Condensed Consolidated Financial Statements

(Amounts presented in millions, except per share data, unless otherwise stated)

(Unaudited)

stores primarily within the United States, with additional locations in Canada, Puerto Rico and the U.S. Virgin Islands. In addition, as of July 12, 2025, the Company served independently owned Carquest branded stores across the same geographic locations served by the Company’s stores, in addition to Mexico and various Caribbean islands. The Company’s stores operate primarily under the trade names “Advance Auto Parts” and “Carquest”.

The Company has reportable segment. As of December 28, 2024, the Company had operating segments, which were aggregated as a single reportable segment; however, following the stabilization of the Company’s new organizational structure in the first quarter of fiscal 2025, due to significant restructuring activities, the Company now operates under the single operating segment of “Advance Auto Parts/Carquest”. See Note 11. Segment Reporting and Note 3. Restructuring, of the notes to the condensed consolidated financial statements included herein for additional information on the Company’s segments and restructuring activities.

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Advance Auto Parts, Inc. and Subsidiaries

Notes to the Condensed Consolidated Financial Statements

(Amounts presented in millions, except per share data, unless otherwise stated)

(Unaudited)

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Advance Auto Parts, Inc. and Subsidiaries

Notes to the Condensed Consolidated Financial Statements

(Amounts presented in millions, except per share data, unless otherwise stated)

(Unaudited)

% % % %Accessories and Chemicals Engine Maintenance Other Total % % % %

There were no major customers individually accounting for 10% or more of consolidated net revenues.

stores, approximately independent locations and distribution centers by mid-2025, as well as headcount reductions. The Company completed the closure of all of these locations during the first quarter of 2025.

Expenses associated with the 2024 Restructuring Plan included: 1) noncash asset impairment and accelerated amortization and depreciation of operating lease Right-of-Use (“ROU”) assets and property and equipment, 2) personnel expenses related to severance and transition expenses, which were offered to certain employees who would provide services through key dates to ensure completion of closure activities and 3) other location closure-related activity, including nonrecurring services rendered by third-party vendors assisting with the turnaround initiatives and other related expenses, including incremental revisions to receivable collectability due to termination of contracts with independents associated with the 2024 Restructuring Plan.

Other Restructuring Initiatives

In November 2023, the Company announced a strategic and operational plan with anticipated savings of $ million of which $ million would be reinvested into frontline team members. In addition to a reduction in workforce, this plan streamlines the Company’s supply chain by configuring a multi-echelon supply chain by leveraging current assets and operating fewer, more productive distribution centers that focus on replenishment and move more parts closer to the customer. In achieving this plan, the Company is in process of converting certain distribution centers and stores into market hubs. In addition to providing replenishment to near-by stores, market hubs support retail operations. In addition to the distribution network optimization costs, other restructuring expenses included certain other items as further detailed in the table below.

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Advance Auto Parts, Inc. and Subsidiaries

Notes to the Condensed Consolidated Financial Statements

(Amounts presented in millions, except per share data, unless otherwise stated)

(Unaudited)

$ $ $ Severance and other personnel expenses

Other location closure related expenses (1)

2024 Restructuring Plan Expenses$ $ $ $ Other Restructuring Plan Expenses:

Cost of sales:

Distribution network optimization$ $ $ $ Selling, general and administrative expenses:

Distribution network optimization

Impairment and write-down of long-lived assets Worldpac post transaction-related expenses

Other restructuring expenses (2)

Other Restructuring Plan Expenses$ $ $ $ ) $

million, consisting of write-down of inventory to net realizable value in the fourth quarter of fiscal 2024, lease termination impacts, other exit-related expenses related to ceased use buildings and certain employee termination benefits. The Company estimates that it will incur additional expenses of approximately $ million to $ million under the active restructuring plans. These expenses primarily relate to lease terminations, professional services, and other exit costs, substantially all of which the Company expects to be incurred by the end of fiscal year 2025.

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Advance Auto Parts, Inc. and Subsidiaries

Notes to the Condensed Consolidated Financial Statements

(Amounts presented in millions, except per share data, unless otherwise stated)

(Unaudited)

% of inventories as of July 12, 2025 and December 28, 2024. An actual valuation of inventory under the LIFO method is performed at the end of each fiscal year based on inventory levels and carrying costs at that time. Accordingly, interim LIFO calculations are based on the Company’s estimates of expected inventory levels and costs at the end of the year. The Company’s LIFO debit/(credit) reserve balance was $() million and $() million as of July 12, 2025 and December 28, 2024, respectively, to state inventories at LIFO. Increases to the Company’s LIFO credit reserve balance are recorded as a noncash charge to cost of sales and decreases are recorded as a non-cash benefit to cost of sales.

$()$ $()

The effect of LIFO liquidations for the twenty-eight weeks ended July 12, 2025 was a decrease to cost of sales of $ million and an increase to net earnings of $ million, or ($) per diluted share. There was impact from LIFO liquidations for the twelve weeks ended ended July 12, 2025 and for the twelve and twenty-eight weeks ended July 13, 2024.

million and $ million, respectively.

$ Vendor Other Total receivables Less: allowance for credit losses()()Receivables, net$ $

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Advance Auto Parts, Inc. and Subsidiaries

Notes to the Condensed Consolidated Financial Statements

(Amounts presented in millions, except per share data, unless otherwise stated)

(Unaudited)

% Senior Unsecured Notes due March 9, 2026$ $

% Senior Unsecured Notes due October 1, 2027

% Senior Unsecured Notes due March 9, 2028

% Senior Unsecured Notes due April 15, 2030

% Senior Unsecured Notes due March 15, 2032

Total long-term debt and current maturities of long-term debt

Less: Current portion of long-term debt() Long-term debt, excluding the current portion$ $

Fair Value of Financial Assets and Liabilities

As of July 12, 2025 and December 28, 2024, the fair value of the Company’s long-term debt, which includes the current portion of long-term debt, was approximately $ billion and $ billion, respectively. The fair value of the Company’s long-term debt was determined using Level 2 inputs based on quoted market prices. The carrying amounts of the Company’s cash and cash equivalents, receivables, net, accounts payable and accrued expenses approximate their fair values due to the relatively short-term nature of these instruments.

Long-term debt

On August 4, 2025, the Company issued (i) $ million in aggregate principal amount of % Senior Notes due 2030 (the “2030 Notes”) and (ii) $ million in aggregate principal amount of % Senior Notes due 2033 (collectively, the “Senior Unsecured Notes”) in a private transaction exempt from the registration requirements of the Securities Act of 1933, as amended (the “Act”). Interest on the Senior Unsecured Notes is payable in cash on February 1 and August 1 of each year, commencing on February 1, 2026. The 2030 Notes will mature on August 1, 2030, and the 2033 Notes will mature on August 1, 2033. Net proceeds from the issuance of the Senior Unsecured Noted were approximately $ million, net of direct transaction and closing costs. The Senior Unsecured Notes are guaranteed by each of the Company’s wholly-owned domestic subsidiaries that also guarantee the Company’s new asset-based loan revolving credit facility (the “ABL Facility”) as further discussed below.

In accordance with the terms of the Indenture governing the Senior Unsecured Notes, the Company may, at its option and on any one or more occasions, redeem some or all of the Senior Unsecured Notes at the redemption prices described in the Indenture. In addition, in the event of a Change of Control Triggering Event (as defined in the Indenture), the Company will be required to offer to repurchase the Senior Unsecured Notes at a price equal to % of the principal amount thereof, plus accrued and unpaid interest, if any, to, but excluding, the repurchase date. The Indenture also contains customary provisions for events of default and certain covenants limiting the ability of the Company and its subsidiaries to incur debt secured by liens and to enter into certain sale and lease-back transactions.

Following the closing of the issuance of the Senior Unsecured Notes, the Company utilized a portion of the net proceeds to redeem in full its outstanding $ million in aggregate principal amount of 2026 Notes and the Company expects to record an immaterial loss on redemption in the third quarter of fiscal 2025 associated with this extinguishment. The remaining proceeds from the issuance are available for general corporate purposes, and, upon closing of the ABL Facility, as further discussed under “Credit Facilities” below, approximately $ billion of cash and cash equivalents, was designated as qualified cash, subject to customary “springing” control agreements, to the initial borrowing base for the ABL Facility.

The Company expects to incur additional interest expense, net of interest income earned on cash and cash equivalents held, of approximately $ to $ million during the second half of fiscal 2025, as a result of the new debt issuance.

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Advance Auto Parts, Inc. and Subsidiaries

Notes to the Condensed Consolidated Financial Statements

(Amounts presented in millions, except per share data, unless otherwise stated)

(Unaudited)

outstanding borrowings under its $ billion revolving credit facility (the “2021 Credit Agreement”). As of July 12, 2025 the Company had $ million of borrowing availability and $ million letters of credit outstanding under the 2021 Credit Agreement. As of December 28, 2024, the Company had $ billion of borrowing availability and letters of credit outstanding under the 2021 Credit Agreement. The Company is required to maintain certain financial covenants related to the 2021 Credit Agreement. On February 25, 2025, the Company entered into Amendment No. 6 (“Amendment No. 6”) to the 2021 Credit Agreement to, among other things, (i) expand the scope of domestic subsidiaries that would be required to grant security interests and guarantee the Company’s obligations under the 2021 Credit Agreement upon the occurrence of a Springing Lien Trigger Event (as defined therein) to include all of the Company’s subsidiaries other than the Company’s Insignificant Subsidiaries (as defined in Amendment No. 6), (ii) revise the definition of Consolidated Coverage Ratio to exclude up to $ million of accelerated rent charges related to lease buyouts and to permit the minimum Consolidated Coverage Ratio to remain at to 1.00 for one additional quarter before increasing to to 1.00 on and after the fiscal quarter ending on January 3, 2026, (iii) revise the definition of Consolidated EBITDA to increase the threshold for Identified Restructuring Charges (as defined therein) from $ million to $ million, and (iv) expand the scope of the guaranteed obligations to include bank product obligations and cash management obligations. As of July 12, 2025, the Company was in compliance with its financial covenants under the 2021 Credit Agreement.

On July 24, 2025, the Company entered into Amendment No. 7 (“Amendment No. 7”) to the 2021 Credit Agreement, which among other things, permitted the issuance of the Senior Unsecured Notes discussed above.

On August 12, 2025, the 2021 Credit Agreement was terminated and replaced by the ABL Facility. The Company expects to record an immaterial loss on extinguishment of the 2021 Credit Agreement during the third quarter of fiscal 2025. The ABL Facility provides for a senior secured first lien asset-based revolving credit facility of up to $ billion with an uncommitted accordion feature, subject to a borrowing base thereunder. Outstanding amounts under the ABL Facility will accrue interest at a floating rate, which, at the Company’s election, can be either (i) SOFR plus an applicable margin or (ii) an alternative base rate plus an applicable margin. The applicable rate varies based on Average Historical Excess Availability (as defined in the ABL Facility) from (i) with respect to base rate loans, % to % and (b) with respect to SOFR loans, % to % and resets quarterly on a prospective basis and is, in part, derived based-upon the utilization of the facility. Interest is payable on a quarterly basis. Unused commitments under the ABL Facility will accrue an unused commitment fee of either % or % per annum, depending on average utilization.

The ABL Facility has first lien on substantially all of the accounts receivable, inventory, cash and related assets of the Company and its subsidiary guarantors thereunder. Advance Auto Parts, Inc. is the ABL Facility borrower and the guarantors are (i) each of our subsidiaries that guarantee our recently issued Senior Unsecured Notes and (ii) certain of our Canadian subsidiaries. Availability under the ABL Facility is limited to the lesser of (i) the borrowing base, equal to the sum of % of eligible credit card receivables, % of eligible trade accounts receivable, % of the net orderly liquidation value of eligible inventory and % of qualified cash (up to certain limits for the purpose of determining borrowing capacity), subject, in each case, to customary reserves established by the collateral agent under the ABL Facility from time to time, including reserves related to outstanding obligations to our suppliers that are payable to the paying agents, as a result of such suppliers electing, at their option, to utilize third-party financing, commonly referred to as supply chain financing, and debt maturity reserves, and (ii) the aggregate revolving credit commitments. The ABL Facility contains customary representations and warranties, events of default and financial, affirmative and negative covenants for facilities of this type, including but not limited to a springing financial covenant relating to a fixed charge coverage ratio, defined in the ABL Facility as the ratio of Consolidated Adjusted EBITDA minus Consolidated Capital Expenditures minus Taxes to Fixed Charges, each as defined in the ABL Facility, on a four quarter trailing basis, which requires a minimum :1 coverage ratio to be maintained, and restrictions on certain indebtedness, liens, investments and acquisitions, asset dispositions, restricted payments, prepayment of certain indebtedness and transactions with affiliates, subject to various thresholds and caps.

In accordance with the ABL Facility, the Company is required to hold cash and cash equivalents in designated accounts with lenders, referred to as Qualified Cash Accounts as defined in ABL Facility. These amounts are unrestricted and the Company is able to direct, and have sole control over, the manner of disposition of funds in such accounts, subject to: 1) maintaining a minimum availability under the ABL facility of at least the greater of (i) % of the Line Cap and (ii) $ million; and 2) maintaining excess availability under the ABL Facility of at least $ million. The Qualified Cash

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Advance Auto Parts, Inc. and Subsidiaries

Notes to the Condensed Consolidated Financial Statements

(Amounts presented in millions, except per share data, unless otherwise stated)

(Unaudited)

million and $ million, respectively, of bilateral letters of credit issued separately from the 2021 Credit Agreement, of which were drawn upon. These bilateral letters of credit generally have a term of or less and primarily serve as collateral for the Company’s self-insurance policies.

Debt Guarantees

The Company is a guarantor of loans made by banks to various independently-owned Carquest-branded stores that are customers of the Company totaling $ million and $ million as of July 12, 2025 and December 28, 2024, respectively. These loans are collateralized by security agreements on merchandise inventory and other assets of the borrowers. The approximate value of the inventory collateralized by these agreements was $ million and $ million as of July 12, 2025 and December 28, 2024, respectively. The Company continuously assesses the likelihood of performance under these guarantees and believes that performance is remote as of July 12, 2025.

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Advance Auto Parts, Inc. and Subsidiaries

Notes to the Condensed Consolidated Financial Statements

(Amounts presented in millions, except per share data, unless otherwise stated)

(Unaudited)

, with renewal options typically at intervals, with the exercise of lease renewal options at the Company’s sole discretion. The Company’s vehicle and equipment lease terms are typically three to . The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants.

$ $ $ Variable lease cost Total lease cost$ $ $ $

During the twelve and twenty-eight weeks ended July 12, 2025, the Company recorded $ million and $ million, respectively, primarily related to accelerated amortization on leases the Company expects to exit before the end of the contractual term, and non-cash asset impairment, net of gains on lease modifications and terminations. These amounts are recorded in restructuring and related expenses within the accompanying condensed consolidated statements of operations. See Note 3. Restructuring, of the notes to the condensed consolidated financial statements included herein.

$ Right-of-use assets obtained in exchange for lease obligations:Operating leases$ $

During the first quarter of 2024, the Company entered into a sale-leaseback transaction where the Company sold a building and land and entered into a lease of the property upon the sale. This transaction resulted in a gain of $ million and is included in selling, general and administrative expenses on the condensed consolidated statement of operations for the twenty-eight weeks ended July 13, 2024.

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Advance Auto Parts, Inc. and Subsidiaries

Notes to the Condensed Consolidated Financial Statements

(Amounts presented in millions, except per share data, unless otherwise stated)

(Unaudited)

$ $ $ Income from discontinued operations

Net income applicable to common shares

$ $ $ $ DenominatorBasic weighted-average common shares Dilutive impact of share-based awards

Diluted weighted-average common shares(1)

Basic earnings per common share from continuing operations

$ $ $ $ Basic earnings per common share from discontinued operations

Basic earnings per common share

$ $ $ $

Diluted earnings per common share from continuing operations

$ $ $ $ Diluted earnings per common share from discontinued operations

Diluted earnings per common share

$ $ $ $

(1) For the twelve weeks ended July 12, 2025 and July 13, 2024, million and million, respectively, of restricted stock units (“RSUs”) were excluded from the diluted weighted-average common share count calculation as their inclusion would have been anti-dilutive. For the twenty-eight weeks ended July 12, 2025 and July 13, 2024, million and million, respectively, of restricted stock units (“RSUs”) were excluded from the diluted calculation as their inclusion would have been anti-dilutive.

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Advance Auto Parts, Inc. and Subsidiaries

Notes to the Condensed Consolidated Financial Statements

(Amounts presented in millions, except per share data, unless otherwise stated)

(Unaudited)

billion and $ billion, respectively. As of July 12, 2025, and December 28, 2024, $ billion and $ billion, respectively, is excluded from the Company’s accounts payable balance on the Company’s condensed consolidated balance sheets, as such amounts represent liabilities of Worldpac transferred with the sale of the business in fiscal 2024. Under the provisions of the sale, the Company will provide certain letters of credit to the buyer to support supply chain financing for the buyer. See Note 12. Discontinued Operations, of the notes to the condensed consolidated financial statements included herein.

10.

putative class actions on behalf of purchasers of the Company’s securities who purchased or otherwise acquired their securities between November 16, 2022, and May 30, 2023, inclusive (the “Class Period”), were commenced against the Company and certain of the Company’s former officers in the United States District Court for the Eastern District of North Carolina. The plaintiffs allege that the defendants made certain false and materially misleading statements during the alleged Class Period in violation of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. These cases were consolidated on February 9, 2024, and the court-appointed lead plaintiff filed a consolidated and amended complaint on April 22, 2024. The consolidated and amended complaint proposes a Class Period of November 16, 2022 to November 15, 2023, and alleges that defendants made false and misleading statements in connection with (a) the Company’s 2023 guidance and (b) certain accounting issues previously disclosed by the Company. On June 21, 2024, defendants filed a motion to dismiss the consolidated and amended complaint. On January 23, 2025, the motion to dismiss was granted by the United States District Court for the Eastern District of North Carolina. On February 21, 2025, plaintiffs filed an appeal to the 4th Circuit Court of Appeals. The Company strongly disputes the allegations and intends to defend the case vigorously.

On January 17, 2024, February 20, 2024, and February 26, 2024, derivative shareholder complaints were commenced against the Company’s directors and certain former officers alleging derivative liability for the allegations made in the securities class action complaints noted above. On April 9, 2024, the court consolidated these actions and appointed co-lead counsel. On June 10, 2024, the court issued a stay order on the consolidated derivative complaint pending resolution of the motion to dismiss for the underlying securities class action complaint.

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Advance Auto Parts, Inc. and Subsidiaries

Notes to the Condensed Consolidated Financial Statements

(Amounts presented in millions, except per share data, unless otherwise stated)

(Unaudited)

11.

operating segment and reportable segment, effective during the first quarter of fiscal year 2025, resulting from the stabilization of the Company’s new organizational structure due to the significant restructuring activities announced in fiscal year 2024 as further described in Note 3. Restructuring, of the notes to the condensed consolidated financial statements included herein. Following this restructuring, the Company no longer has operating segments, which were previously aggregated into a single reportable segment. The Company conducts its operations principally in the geographical areas of the U.S. and Canada through its Advance Auto Parts and Carquest trade brands. The products sold by the Company, across all geographic areas, have similar economic characteristics, are sourced from the Company’s suppliers in a similar manner, and are available for sale to all of the Company’s customers through the Company’s stores and self-service e-commerce sites. All of the Company’s stores have similar characteristics, including the nature of the products and services, the type and class of customers, and the methods used to distribute products and provide service to its customers. Due to these reasons, the Company has operating segment, referred to as Advance Auto Parts/Carquest. As geographic information is not a key component of how the chief operating decision maker (“CODM”) reviews performance and allocates resources, such entity-wide information is not disclosed on a quarterly basis.

The Company’s CODM is the Chief Executive Officer, who regularly reviews financial information presented on a consolidated basis for purposes of allocating resources and evaluating financial performance for the Company’s single reportable segment. Discrete information is not regularly provided to and/or reviewed by the Company’s CODM at a lower level than the consolidated level, inclusive of segment asset level detail. The CODM primarily focuses on net income to evaluate its reportable segment. The CODM also uses net income for evaluating pricing strategy and to assess the performance for determining the compensation of certain employees.

$ $ $ Less: Cost of sales $ $ $ $

Selling, general and administrative expenses (1)

Restructuring and related expenses

Depreciation and amortization expense (2)

Interest expense

Other segment items (3)

()()()()

Income tax (benefit) expense

()

Net income from continuing operations

$ $ $ $ ) )

13.

million realized in the first quarter of fiscal 2025 related to certain tax benefits associated with capital loss deductions.

On July 4, 2025, President Trump signed into law the One Big Beautiful Bill Act (“OBBBA”). The OBBBA makes key elements of the Tax Cuts and Jobs Act permanent, including 100% bonus depreciation and the business interest expense limitation, among others. The Company has determined the OBBBA has an immaterial impact to Company’s provision for income taxes and deferred tax balances. ASC 740, “Income Taxes”, requires the effects of changes in tax rates and laws on deferred tax balances to be recognized in the period in which the legislation is enacted, which occurred during Company’s second quarter of fiscal 2025 ended July 12, 2025. Therefore, the Company has reflected the effect of the OBBBA within the provision for income taxes for the twelve and twenty-eight weeks ended July 12, 2025 and deferred tax balances as of July 12, 2025.

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ITEM 2.MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion and analysis of financial condition and results of operations should be read in conjunction with the audited consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 28, 2024 (filed with the SEC on February 26, 2025) which the Company refers to as the “2024 Form 10-K”), and the Company’s unaudited condensed consolidated financial statements and the notes to those statements that appear elsewhere in this report. The results of operations for the interim periods are not necessarily indicative of the operating results to be expected for the full year. Consistent with the previous fiscal year, the Company’s first quarter of the year contained sixteen weeks. The Company’s remaining quarters each consist of twelve weeks, with the exception of the fourth quarter of fiscal 2025 which consists of thirteen weeks.

Second Quarter Fiscal 2025 Management Overview

The Company’s financial results from continuing operations for the second quarter of 2025 includes:

•Net sales during the second quarter of fiscal 2025 were $2.0 billion, a decrease of 7.7% compared with the second quarter of fiscal 2024. Comparable store sales increased by 0.1%.

•Gross profit margin for the second quarter of 2025 was 43.5% of net sales, a decrease of 14 basis points compared with the second quarter of fiscal 2024.

•Selling, general and administrative expenses, exclusive of restructuring and related expenses for the second quarter of fiscal 2025 were 40.9% of net sales, an increase of 13 basis points compared with the second quarter of fiscal 2024.

•The Company generated diluted earnings per share of $0.25 during the second quarter of fiscal 2025, compared with diluted earnings per share of $0.51 for the comparable period of 2024.

Business and Risks Update

The Company continues to make progress on the various elements of its business plan, which is focused on improving the customer experience, margin expansion, and driving consistent execution for both professional and DIY customers. In the first quarter of fiscal 2025, the Company completed all store location closures under the 2024 Restructuring Plan designed to improve the Company’s profitability and growth potential, and streamline its operations. For further information related to restructuring and related activities, see Note 3. Restructuring of the Notes to Condensed Consolidated Financial Statements included in Part I, Item 1.

In August 2025, subsequent to the end of the second quarter of fiscal 2025, the Company completed various financing-related transactions, including in the issuance of $1.95 billion in Senior Unsecured Notes with net proceeds of approximately $1.62 billion, after the redemption of the Company’s 5.90% Senior Notes due March 9, 2026 and direct transaction and closing costs. The Company also terminated its existing 2021 Credit Agreement which has been replaced by a new asset-based loan revolving credit facility (the “ABL Facility”). For further information related to these subsequent events activities, see Note 6. Long-term Debt and Fair Value of Financial Instruments of the Notes to Condensed Consolidated Financial Statements included in Part I, Item 1 and Part I, Item 2, “Liquidity and Capital Resources” of this Quarterly Report.

During the first and second quarters of fiscal 2025, new global trade tariffs were announced on imports to the U.S., including additional tariffs on various countries from which the Company directly or indirectly imports and/or sources merchandise, including Canada, China and Mexico, among others. Since the initial announcement in the first quarter of fiscal 2025, various modifications and delays to the U.S. tariffs have been announced and further changes are expected to be made in the future, which may include additional sector-based tariffs or other measures. In response to the tariffs, certain of our suppliers have increased prices. However, the impact of such increases to-date has not been material to the Company’s business, financial condition and results of operations. The ultimate impact of tariffs on the Company’s business remains uncertain. See Part II, Item 1A, “Risk Factors” of this Quarterly Report.

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Industry Update

Operating within the automotive aftermarket industry, the Company is influenced by a number of general macroeconomic factors, many of which are similar to those affecting the overall retail industry. In addition to the “Business and Risk Update” section included within this Management’s Discussion and Analysis of Financial Condition and Results of Operations, these factors include, but are not limited to:

•Significant changes in U.S trade policies, including the recently enacted and/or proposed new global trade tariffs

•Inflationary pressures, including logistics and labor

•Global supply chain disruptions

•Cost of fuel

•Changes in the number of miles driven

•Unemployment rates

•Interest rates

•Consumer confidence and purchasing power

•Competition

•Changes in new car sales

•Economic and geopolitical uncertainty

•Foreign currency exchange volatility

While these factors tend to fluctuate, the Company remains confident in the long-term growth prospects for the automotive parts industry.

Stores

The key factors used in selecting sites and market locations in which the Company operates include population, demographics, traffic count, vehicle profile, number and strength of competitors’ stores and the cost of real estate. During the twenty-eight weeks ended July 12, 2025, 18 stores were opened and 514 were closed, resulting in a total of 4,292 stores as of the end of the second fiscal quarter compared with a total of 4,788 stores as of December 28, 2024. The significant reduction in stores during fiscal 2025 relates to actions taken under the Company’s restructuring and related activities. See Note 3. Restructuring, of the Notes to Condensed Consolidated Financial Statements included in Part I, Item 1.

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Results of Operations



	Twelve Weeks Ended								Change(1)		Basis Points
($ in millions)	July 12, 2025				July 13, 2024
Net sales	$	2,010	100.0	%	$	2,178	100.0	%	$	(168)	—
Cost of sales	1,136		56.5		1,228		56.4		92		14
Gross profit	874		43.5		950		43.6		(76)		(14)
Selling, general and administrative expenses, exclusive of restructuring and related expenses	823		40.9		889		40.8		66		13
Restructuring and related expenses	29		1.4		7		0.3		(22)		112
Selling, general and administrative expenses	852		42.4		896		41.1		44		125
Operating (loss) income	22		1.1		54		2.5		(32)		(138)
Interest expense	(19)		(0.9)		(19)		(0.9)		—		(7)

Other income (loss), net	18		0.9		9		0.4		9		48
Income tax (benefit) expense	6		0.3		13		0.6		7		(30)
Net income	$	15	0.7	%	$	31	1.4	%	$	(16)	(68)


	Twenty-Eight Weeks Ended											Change(1)		Basis Points
($ in millions)	July 12, 2025							July 13, 2024
Net sales	$	4,593			100.0	%		$	4,950	100.0	%	$	(357)	—
Cost of sales	2,609				56.8			2,797		56.5		188		30
Gross profit	1,984				43.2			2,153		43.5		(169)		(30)
Selling, general and administrative expenses, exclusive of restructuring and related expenses	1,945				42.3			2,039		41.2		94		116
Restructuring and related expenses	148				3.2			8		0.2		(140)		306
Selling, general and administrative expenses	2,093				45.6			2,047		41.4		(46)		422
Operating (loss) income	(109)				(2.4)			106		2.1		(215)		(451)
Interest expense	(46)				(1.0)			(43)		(0.9)		(3)		(13)

1,657			$	1,869		$	(212)

The decrease in cash and cash equivalents was primarily due to net cash used in operating activities of $106 million, primarily as a result of a decrease in net working capital, inclusive of cash payments made in the period related to the Company’s 2024 Restructuring Plan, $75 million used for purchases of property and equipment, net of proceeds from sales, and the payment of $30 million in dividends.

In August 2025, subsequent to the end of our second fiscal quarter of 2025, the Company completed a series of financing-related transactions as further summarized below under “Long-Term Debt” and “Credit Facilities.” As a result of these transactions, the Company issued $1.95 billion in aggregate principal amount of new Senior Unsecured Notes due 2030 and 2033 and redeemed its outstanding $300 million in aggregate principal amount of 5.90% Senior Notes due 2026 (the “2026 Notes”). The Company expects the net proceeds of these transactions to significantly increase cash and cash equivalents, net of direct transaction and closing costs, by approximately $1.62 billion.

In addition to cash and cash equivalents presented above, as of July 12, 2025, the Company also maintained access to $817 million in undrawn capacity through the Company’s revolving credit facility (the “2021 Credit Agreement”) as further described below. The 2021 Credit Agreement was terminated on August 12, 2025 and replaced by a new $1.0 billion asset-based revolving credit facility (the “ABL Facility”). The Company expects to designate a significant amount of cash and cash equivalents as Qualified Cash as defined in ABL Facility, that will count towards the initial borrowing base for the ABL Facility as further discussed within the section “Credit Facilities” below.

The financing-related transactions completed in the third quarter of fiscal 2025, are intended to strengthen the Company’s financial condition and provide additional cash and cash equivalents and sources of liquidity. The Company believes that its cash and cash equivalents and sources of liquidity will satisfy its working and other capital requirements for at least the next 12 months and thereafter for the foreseeable future.

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Analysis of Cash Flows

In the fourth quarter of fiscal 2024, the Company completed the sale of Worldpac. As a result, the Company classified the results of operations and cash flows of Worldpac as discontinued operations in its condensed consolidated statements of operations and condensed consolidated statements of cash flows for prior periods presented. The Company’s cash flows from operating, investing and financing activities were as follows (in millions):


	Twenty-Eight Weeks Ended
(in millions)	July 12, 2025		July 13, 2024
Net cash (used in) provided by operating activities of continuing operations	$	(106)	$	39
Net cash provided by operating activities of discontinued operations	—		49
Net cash used in investing activities of continuing operations	(75)		(75)
Net cash used in investing activities of discontinued operations	—		(5)
Net cash used in financing activities	(32)		(43)
Effect of exchange rate changes on cash	1		11
Net decrease in cash and cash equivalents	$	(212)	$	(24)

Operating Activities

For the twenty-eight weeks ended July 12, 2025, cash used in operating activities changed unfavorably by $145 million compared with the same period of prior year. The decrease as compared to the comparative period was due to a decrease in net working capital, inclusive of cash payments made in the period related to the Company’s 2024 Restructuring Plan.

Investing Activities

For the twenty-eight weeks ended July 12, 2025, cash flows used in investing activities remained relatively flat as compared with the twenty-eight weeks ended July 13, 2024, with higher spend on property and equipment in the current period, offset by higher proceeds from the sale of property and equipment.

Financing Activities

For the twenty-eight weeks ended July 12, 2025, cash flows used in financing activities was $32 million, a decrease of $11 million as compared with the twenty-eight weeks ended July 13, 2024. The decrease in cash used in financing activities was due primarily to payments on the purchase of noncontrolling interests in the twenty-eight weeks ended July 13, 2024 with no such payments made in the twenty-eight weeks ended July 12, 2025.

The Company’s Board of Directors has declared a cash dividend every quarter since 2006. Any payments of dividends in the future will be at the discretion of the Company’s Board of Directors and will depend upon the Company’s results of operations, cash flows, capital requirements and other factors deemed relevant by the Board of Directors. Similar to the 2021 Credit Agreement, the Company’s new ABL Facility, as detailed further below, has certain restrictions that may limit the Company’s ability to increase the amount of the Company’s cash dividends above its current levels.

In the third quarter of fiscal 2025, the Company expects to recognize net proceeds as financing activities, after direct financing and closing costs, of approximately $1,920 million related to the issuance of the new Senior Unsecured Notes and financing cash outflows of approximately $300 million for the redemption of the Company’s outstanding 2026 Senior Notes, as further discussed below.

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Restructuring Activities

On November 13, 2024, the Company’s Board of Directors approved the 2024 Restructuring Plan, which was designed to improve the Company’s profitability and growth potential and streamline its operations. In fiscal 2023, the Company also announced a strategic and operational plan to streamline the Company’s supply chain by configuring a multi-echelon supply chain by leveraging current asset and operating fewer, more productive distribution centers that focus on replenishment and move more parts closer to the customer. The Company estimates that it will incur additional expenses of approximately $20 million to $30 million of cash expenses related to the active restructuring plans, primarily composed of lease terminations and other exit expenses and professional services, by the end of fiscal year 2025. For further information, see Note 3. Restructuring, of the Notes to Condensed Consolidated Financial Statements included in Part I, Item 1.

Long-Term Debt

As of July 12, 2025 the Company had outstanding long-term debt totaling $1,792 million, of which $300 million is classified as short-term related to the 5.90% Senior Unsecured Notes due March 9, 2026.

On August 4, 2025, the Company issued (i) $975 million in aggregate principal amount of 7.000% Senior Notes due 2030 (the “2030 Notes”) and (ii) $975 million in aggregate principal amount of 7.375% Senior Notes due 2033 (collectively, the “Senior Unsecured Notes”) in a private transaction exempt from the registration requirements of the Securities Act of 1933, as amended (the “Act”). Interest on the Senior Unsecured Notes is payable in cash on February 1 and August 1 of each year, commencing on February 1, 2026. The 2030 Notes will mature on August 1, 2030, and the 2033 Notes will mature on August 1, 2033. Net proceeds from the issuance of the Senior Unsecured Noted were approximately $1,920 million, net of direct transaction and closing costs. The Senior Unsecured Notes are guaranteed by each of the Company’s wholly-owned domestic subsidiaries that also guarantee the ABL Facility.

In accordance with the terms of the Indenture governing the Senior Unsecured Notes, the Company may, at its option and on any one or more occasions, redeem some or all of the Senior Unsecured Notes at the redemption prices described in the Indenture. In addition, in the event of a Change of Control Triggering Event (as defined in the Indenture), the Company will be required to offer to repurchase the Senior Unsecured Notes at a price equal to 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to, but excluding, the repurchase date. The Indenture also contains customary provisions for events of default and certain covenants limiting the ability of the Company and its subsidiaries to incur debt secured by liens and to enter into certain sale and lease-back transactions.

Following the closing of the issuance of the Senior Unsecured Notes, the Company utilized a portion of the net proceeds to redeem in full its outstanding $300 million in aggregate principal amount of 2026 Notes and the Company expects to record an immaterial loss on redemption in the third quarter of fiscal 2025 associated with this extinguishment. The remaining proceeds from the issuance are available for general corporate purposes, and, upon closing of the ABL Facility, as further discussed under “Credit Facilities” below, approximately $2.3 billion of cash and cash equivalents, was designated as qualified cash, subject to customary “springing” control agreements, to the initial borrowing base for the ABL Facility.

The Company expects to incur additional interest expense, net of interest income earned on cash and cash equivalents held, of approximately $25 to $30 million during the second half of fiscal 2025, as a result of the new debt issuance.

For further details, see Note 6. Long-term Debt and Fair Value of Financial Instruments of the Notes to Condensed Consolidated Financial Statements included in Part I, Item 1.

Credit Facilities

As of July 12, 2025 and December 28, 2024, the Company had no outstanding borrowings under the 2021 Credit Agreement. As of July 12, 2025 the Company had $817 million of borrowing availability and $183 million letters of credit outstanding under the 2021 Credit Agreement. As of December 28, 2024, the Company had $1 billion of borrowing availability and no letters of credit outstanding under the 2021 Credit Agreement. The Company is required to maintain certain financial covenants related to the 2021 Credit Agreement and as of July 12, 2025, the Company was in compliance with such financial covenants. On February 25, 2025, the Company entered into Amendment No. 6 (“Amendment No. 6”) to the 2021 Credit Agreement.

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As of July 12, 2025 and December 28, 2024, the Company also had $89 million and $91 million, respectively, of bilateral letters of credit issued separately from the 2021 Credit Agreement, none of which were drawn upon. These bilateral letters of credit generally have a term of one year or less and primarily serve as collateral for the Company’s self-insurance policies.

On August 12, 2025, the 2021 Credit Agreement was terminated and replaced by the ABL Facility. The Company expects to record an immaterial loss on extinguishment of the 2021 Credit Agreement during the third quarter of fiscal 2025. The ABL Facility provides for a five-year senior secured first lien asset-based revolving credit facility of up to $1 billion with an uncommitted accordion feature, subject to a borrowing base thereunder. Outstanding amounts under the ABL Facility will accrue interest at a floating rate, which, at the Company’s election, can be either (i) SOFR plus an applicable margin or (ii) an alternative base rate plus an applicable margin. The applicable rate varies based on Average Historical Excess Availability (as defined in the ABL Facility) from (i) with respect to base rate loans, 0.25% to 0.75% and (b) with respect to SOFR loans, 1.25% to 1.75% and resets quarterly on a prospective basis and is, in part, derived based-upon the utilization of the facility. Interest is payable on a quarterly basis. Unused commitments under the ABL Facility will accrue an unused commitment fee of either 0.30% or 0.25% per annum, depending on average utilization.

The ABL Facility has first lien on substantially all of the accounts receivable, inventory, cash and related assets of the Company and its subsidiary guarantors thereunder. Advance Auto Parts, Inc. is the ABL Facility borrower and the guarantors are (i) each of our subsidiaries that guarantee our recently issued Senior Unsecured Notes and (ii) certain of our Canadian subsidiaries. Availability under the ABL Facility is limited to the lesser of (i) the borrowing base, equal to the sum of 90% of eligible credit card receivables, 85% of eligible trade accounts receivable, 85% of the net orderly liquidation value of eligible inventory and 100% of qualified cash (up to certain limits for the purpose of determining borrowing capacity), subject, in each case, to customary reserves established by the collateral agent under the ABL Facility from time to time, including reserves related to outstanding obligations to our suppliers that are payable to the paying agents, as a result of such suppliers electing, at their option, to utilize third-party financing, commonly referred to as supply chain financing, and debt maturity reserves, and (ii) the aggregate revolving credit commitments. The ABL Facility contains customary representations and warranties, events of default and financial, affirmative and negative covenants for facilities of this type, including but not limited to a springing financial covenant relating to a fixed charge coverage ratio, defined in the ABL Facility as the ratio of Consolidated Adjusted EBITDA minus Consolidated Capital Expenditures minus Taxes to Fixed Charges, each as defined in the ABL Facility, on a four quarter trailing basis, which requires a minimum 1:1 coverage ratio to be maintained, and restrictions on certain indebtedness, liens, investments and acquisitions, asset dispositions, restricted payments, prepayment of certain indebtedness and transactions with affiliates, subject to various thresholds and caps.

In accordance with the ABL Facility, the Company is required to hold cash and cash equivalents in designated accounts with lenders, referred to as Qualified Cash Accounts as defined in ABL Facility. These amounts are unrestricted and the Company is able to direct, and have sole control over, the manner of disposition of funds in such accounts, subject to: 1) maintaining a minimum availability under the ABL facility of at least the greater of (i) 12.5% of the Line Cap and (ii) $125 million; and 2) maintaining excess availability under the ABL Facility of at least $400 million. The Qualified Cash Accounts are subject to springing control agreements pursuant to which the cash deposited therein will become restricted in the event of default or a breach of such covenants.

For further details, see Note 6. Long-term Debt and Fair Value of Financial Instruments of the Notes to Condensed Consolidated Financial Statements included in Part I, Item 1., respectively.

Additional Capital Requirements

Expected working and other capital requirements, including Contractual and Off-Balance Sheet Obligations are described in the Company’s 2024 Annual Report on Form 10-K in “Part II, Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations.” As of July 12, 2025, other than for the changes disclosed in the “Notes to Condensed Consolidated Financial Statements”, and “Liquidity and Capital Resources” in this Quarterly Report, there have been no other material changes to the Company’s expected working and other capital requirements described in the Company’s 2024 Annual Report on Form 10-K.

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ITEM 3.QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

There have been no significant changes in the Company’s exposure to market risk since December 28, 2024. See “Item 7A. Quantitative and Qualitative Disclosures about Market Risk” in the Company’s 2024 Form 10-K.

ITEM 4.CONTROLS AND PROCEDURES

Disclosure Controls and Procedures

Disclosure controls and procedures (as that term is defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) are management’s controls and other procedures that are designed to ensure that information required to be disclosed by management in the Company’s reports that are filed or submitted under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated to management, including the Company’s principal executive officer and principal financial officer, as appropriate to allow timely decisions regarding required disclosure. Internal controls over financial reporting, no matter how well designed, have inherent limitations, including the possibility of human error and the override of controls. Therefore, even those systems determined to be effective can provide only “reasonable assurance” with respect to the reliability of financial reporting and financial statement preparation and presentation. Further, because of changes in conditions, the effectiveness may vary over time.

Management evaluated, with the participation of the Company’s principal executive officer and principal financial officer, the effectiveness of the Company’s disclosure controls and procedures as of July 12, 2025. Based on this evaluation, the principal executive officer and the principal financial officer have concluded that, as of the end of the period covered by this report, the Company’s disclosure controls and procedures were effective to accomplish their objectives at the reasonable assurance level.

Changes in Internal Control Over Financial Reporting

There has been no change in the Company’s internal control over financial reporting during the second quarter ended July 12, 2025, that has materially affected or is reasonably likely to materially affect its internal control over financial reporting as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act.

PART II. OTHER INFORMATION

None.

ITEM 1. LEGAL PROCEEDINGS

Information regarding certain legal proceedings is provided in this Quarterly Report. See Note 10. Commitments and Contingencies, of the Notes to Condensed Consolidated Financial Statements included in Part I, Item 1.

ITEM 1A.RISK FACTORS

The Company’s future business, operations and financial results are subject to various risks and uncertainties, including those described in Part I, Item 1A, “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 28, 2024, which could adversely affect the Company’s business, financial condition, results of operations, cash flows and future prospects, which could in turn materially affect the price of the Company’s common stock. Except for the risk factor set forth below, there have been no material changes to the Company’s risk factors since the 2024 Form 10-K.

An unstable global economic and geopolitical landscape increases uncertainty about key areas of doing business internationally and may have a negative impact on our business.

During fiscal 2025, new global trade tariffs were announced on imports to the U.S., including additional tariffs on various countries from which the Company directly or indirectly imports and/or sources merchandise, including Canada, China and Mexico, among others. In response, several countries have imposed, or threatened to impose, reciprocal tariffs on imports from the U.S. and other measures. Various modifications and delays to the U.S. tariffs have been announced and further changes are expected to be made in the future, which may include additional sector-based tariffs or other measures. Additionally, the current administration has directed various federal agencies to further evaluate key aspects of U.S. trade policy and there has been ongoing discussion and commentary regarding potential significant changes to U.S. trade policies, enforcement priorities, sanctions, treaties and tariffs. Significant uncertainty continues to exist about the future economic and political relationship between the U.S. and other countries. The ultimate impact of tariffs on the Company’s business will

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depend on several factors, including whether additional or incremental U.S. tariffs or other measures are announced, revised, or rescinded, to what extent other countries implement tariffs or other measures in response, and the overall magnitude and duration of these items. These developments, or the perception that any of them could occur, may have a material effect on global economic conditions, the stability of global financial markets, or global trade, and may impact the Company’s product cost, pricing, or competitive conditions, disrupt supply chains, impact the broader macroeconomic environment and consumer sentiment or otherwise negatively impact the Company’s business, financial condition and results of operations.

Our significant level of indebtedness or a deterioration in the global credit markets could limit the cash flow available for operations and could adversely affect our ability to service our debt or obtain additional financing.

We have a significant amount of indebtedness. Our significant level of indebtedness could restrict our operations and make it more difficult for us to satisfy our debt obligations. For example, our level of indebtedness could, among other things:

•affect our liquidity by limiting our ability to obtain additional financing for working capital;

•limit our ability to obtain financing for capital expenditures and acquisitions or make any available financing more costly;

•require us to dedicate all or a substantial portion of our cash flow to service our debt, which would reduce funds available for other business purposes, such as capital expenditures, dividends or acquisitions, or to invest in our turnaround;

•limit our flexibility in planning for or reacting to changes in the markets in which we compete;

•place us at a competitive disadvantage relative to our competitors who may have less indebtedness;

•render us more vulnerable to general adverse economic and industry conditions;

•make it more difficult for us to satisfy our financial obligations; and

•limit our ability to refinance our debt on terms as favorable as our existing debt or at all.

Furthermore, despite our current indebtedness levels, we may still incur significant additional indebtedness, which would increase the risks associated with our leverage. Although the indentures governing our indebtedness contain certain financial and other restrictive covenants, certain of such agreements restrict but do not completely prohibit us from incurring substantial additional indebtedness, including secured indebtedness, in the future. If new debt or other liabilities are added to our current debt levels, the related risks that we now face could intensify. Any failure to comply with the restrictive covenants in our debt instruments could result in an event of default which, if not cured or waived, could result in the acceleration of all of our debt, including the outstanding notes, and have a material adverse effect on our liquidity and operations.

Finally, conditions and events in the global credit markets could have a material adverse effect on our access to short- and long-term borrowings to finance our operations and the terms and cost of that debt. It is possible that one or more of the banks that provide us with financing may fail to honor the terms of our agreements or be financially unable to provide the unused credit as a result of significant deterioration in such bank’s financial condition. Any inability to obtain sufficient financing at cost-effective rates could have a material adverse effect on our business, financial condition, results of operations and cash flows.

ITEM 2.UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

The following table sets forth the information with respect to repurchases of the Company’s common stock for the quarter ended July 12, 2025:


	Total Number of Shares Purchased (1)	Average Price Paid per Share (1)		Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs	Maximum Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs (in millions)
April 20, 2025 to May 17, 2025	1,355	$	41.48	—	$	947
May 18, 2025 to June 14, 2025	13,008	$	50.68	—	$	947
June 15, 2025 to July 12, 2025	1,993	$	46.48	—	$	947
Total	16,356	$	49.41	—

(1) The aggregate cost of repurchasing shares in connection with the net settlement of shares issued as a result of the vesting of restricted stock units was $1 million, or an average price of $49.41 per share, during the second quarter of 2025.

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Dividend Restrictions

In accordance with Amendment No. 5 to the 2021 Credit Agreement, the Company is restricted from increasing the amount of the Company’s cash dividends. The 2021 Credit Agreement was terminated on August 12, 2025 and replaced by the Company’s new ABL Facility, which also has certain restrictions that may limit the Company’s ability to increase the amount of the Company’s cash dividends above its current levels. See “Liquidity and Capital Resources” within Part II, Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

ITEM 5. OTHER INFORMATION

During the second quarter of 2025, Rule 10b5-1 or non-Rule 10b5-1 trading arrangements were adopted or terminated by the Company’s officers or directors as each term is defined in Item 408 of Regulation S-K.

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EXHIBIT INDEX

Incorporated by Reference

Filed

Exhibit No.

Exhibit Description

Form

Exhibit

Filing Date

Herewith

3.1

Composite Restated Certificate of Incorporation of Advance Auto Parts, Inc., effective August 9, 2024

10-Q

3.2

8/22/2024

3.2

Amended and Restated Bylaws of Advance Auto Parts, Inc., effective August 8, 2023.

10-Q

3.1

8/18/2020

4.1

Indenture, dated as of August 4, 2025, by and among Advance Auto Parts, Inc., each of the subsidiary guarantors party thereto and Computershare Trust Company, N.A., as trustee.

8-K

4.1

8/5/2025

4.2

Form of 2030 Note (included in Exhibit 4.1 above).

8-K

4.2

8/5/2025

4.3

Form of 2033 Note (included in Exhibit 4.1 above).

8-K

4.3

8/5/2025

4.4

Secon d Supplemental Indenture dated as of A u gust 4, 2025 among Advance Auto Parts, Inc., each of the Subsidiary Guarantors from time to time party thereto and Computershare Trust Company, N.A., as Trustee.

4.5

Eleventh Supplemental Indenture dated as of August 4, 2025 among Advance Auto Parts, Inc., each of the Subsidiary Guarantors from time to time party thereto and Computershare Trust Company, N.A., as Trustee.

10.1

Amendment No. 7 to the Credit Agreement dated as of July 2 4 , 2025

8-K

10.1

7/24/2025

10.2

Credit Agreement, dated August 12, 2025 among Advance Auto Parts, Inc ., each of the subsidiary guara ntors party thereto and Bank of America, N.A., as Administrative Agent.

8-K

10.1

8/14/2025

22.1

List of the Issuer and its Guarantor Subsidiaries.

10-Q

22.1

4/20/2024

31.1

Certification of Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

31.2

Certification of Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

32.1

Certification of Chief Executive Officer and Chief Financial Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

101.INS

Inline XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.

101.SCH

Inline XBRL Taxonomy Extension Schema Document.

101.CAL

Inline XBRL Taxonomy Extension Calculation Linkbase Document.

101.DEF

Inline XBRL Taxonomy Extension Definition Linkbase Document.

101.LAB

Inline XBRL Taxonomy Extension Labels Linkbase Document.

101.PRE

Inline XBRL Taxonomy Extension Presentation Linkbase Document.

104.1

Cover Page Interactive Data file (Embedded within the Inline XBRL Documents and Included in Exhibit).

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


						ADVANCE AUTO PARTS, INC.

Date: August 14, 2025						/s/ Ryan P. Grimsland
						Ryan P. Grimsland Executive Vice President, Chief Financial Officer

ADVANCE AUTO PARTS INC - Quarter Report: 2025 July (Form 10-Q)

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