0001558370-24-009005 | 10-Q | XBRL Viewer

Share-Based Payments - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		8 Months Ended
	May 04, 2024	May 06, 2023	May 04, 2024	May 06, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted			134,821	161,510
Forfeiture rate			7.00%	10.00%
Weighted average grant date fair value of options granted			$ 915.03	$ 764.68
Stock options exercised - shares			185,304	208,482
Stock options exercised - weighted average exercise price			$ 801.74	$ 705.52
Unrecognized share-based compensation expense related to stock options, net of forfeitures	$ 131.2		$ 131.2
Estimated weighted average period			3 years 1 month 6 days
Share-based compensation expense	$ 25.4	$ 20.0	$ 71.3	$ 62.4
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Anti-dilutive shares excluded from the computation of earnings per share	131,280	154,041	115,997	132,965
Share-Based Payment Arrangement, Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Forfeiture rate			10.00%
Omnibus Incentive Award Plan 2020 \| Share-Based Payment Arrangement, Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Forfeiture rate			0.00%
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimated weighted average period			2 years 7 months 6 days
Service period			4 years
Restricted stock unit awards, number of shares granted			3,173	3,584
Restricted stock unit awards, granted, weighted average grant date fair value			$ 2,560.56	$ 2,267.40
Restricted stock unit awards, number of shares vested			4,741	6,643
Restricted stock unit awards, vested, weighted average grant date fair value			$ 1,617.00	$ 1,276.32
Non vested restricted stock unit award	$ 8.5		$ 8.5
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Option-vesting periods			4 years
Stock Options \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Option-vesting periods			4 years
Stock Options \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Option-vesting periods			5 years

Marketable Debt Securities - Available-for-Sale Marketable Securities (Detail) - USD ($) $ in Thousands	May 04, 2024	Aug. 26, 2023
Schedule of Available-for-sale Securities [Line Items]
Available-For-Sale Marketable Securities, Amortized Cost Basis	$ 120,190	$ 123,887
Available-For-Sale Marketable Securities, Gross Unrealized Gains	389	17
Available-For-Sale Marketable Securities, Gross Unrealized Losses	(1,519)	(2,391)
Available-For-Sale Marketable Securities, Fair Value	119,060	121,513
Corporate debt securities
Schedule of Available-for-sale Securities [Line Items]
Available-For-Sale Marketable Securities, Amortized Cost Basis	28,377	31,683
Available-For-Sale Marketable Securities, Gross Unrealized Gains	13	17
Available-For-Sale Marketable Securities, Gross Unrealized Losses	(270)	(504)
Available-For-Sale Marketable Securities, Fair Value	28,120	31,196
Government bonds
Schedule of Available-for-sale Securities [Line Items]
Available-For-Sale Marketable Securities, Amortized Cost Basis	56,502	63,747
Available-For-Sale Marketable Securities, Gross Unrealized Gains	376
Available-For-Sale Marketable Securities, Gross Unrealized Losses	(1,048)	(1,440)
Available-For-Sale Marketable Securities, Fair Value	55,830	62,307
Mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Available-For-Sale Marketable Securities, Amortized Cost Basis	2,771	3,215
Available-For-Sale Marketable Securities, Gross Unrealized Losses	(118)	(213)
Available-For-Sale Marketable Securities, Fair Value	2,653	3,002
Asset-backed securities and other
Schedule of Available-for-sale Securities [Line Items]
Available-For-Sale Marketable Securities, Amortized Cost Basis	32,540	25,242
Available-For-Sale Marketable Securities, Gross Unrealized Losses	(83)	(234)
Available-For-Sale Marketable Securities, Fair Value	$ 32,457	$ 25,008

- Definition

Amount of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

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- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Variable Interest Entities (Detail) - USD ($) $ in Millions	May 04, 2024	Aug. 26, 2023
Variable Interest Entity Not Primary Beneficiary
Variable Interest Entities
Maximum exposure to losses amount	$ 110.9	$ 29.6

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT (Unaudited) (Parenthetical) - shares	3 Months Ended		8 Months Ended		316 Months Ended
	May 04, 2024	May 06, 2023	May 04, 2024	May 06, 2023	May 04, 2024
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT (Unaudited)
Purchase of treasury stock, shares	242,000	356,000	905,400	1,120,000	154,900,000

Segment Reporting - Additional Information (Detail)	8 Months Ended
Segment Reporting - Additional Information (Detail)	May 04, 2024 store segment
Segment Reporting
Number of reportable segments	1
Number of automotive parts and accessories locations in the United States, Mexico, and Brazil \| store	7,236
Number of operating segments	2

General

8 Months Ended

May 04, 2024

General

General

Note A – General

The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with United States (“U.S.”) generally accepted accounting principles (“U.S. GAAP”) for interim financial information and are presented in accordance with the requirements of Form 10-Q and Article 10 of Regulation S-X of the Securities and Exchange Commission’s (the “SEC”) rules and regulations. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments, including normal recurring accruals, considered necessary for a fair presentation have been included. For further information, refer to the consolidated financial statements and related notes included in the AutoZone, Inc. (“AutoZone” or the “Company”) Annual Report on Form 10-K for the year ended August 26, 2023.

Operating results for the twelve and thirty-six weeks ended May 4, 2024 are not necessarily indicative of the results that may be expected for the full fiscal year ending August 31, 2024. Each of the first three quarters of AutoZone’s fiscal year consists of 12 weeks, and the fourth quarter consists of 16 or 17 weeks. The fourth quarter of fiscal 2024 has 17 weeks, and the fourth quarter of fiscal 2023 had 16 weeks.

Recently Adopted Accounting Pronouncements

In September 2022, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2022-04, Liabilities – Supplier Finance Programs (Subtopic 405-50). This ASU requires buyers in a supplier finance program to disclose sufficient qualitative and quantitative information about the program to allow a reader of the financial statements to understand the program’s nature, activity during the period, changes from period to period and the program’s potential magnitude. This ASU is effective for all companies for fiscal years beginning after December 15, 2022, including interim periods within those years, and requires retrospective adoption. The Company adopted this standard on a retrospective basis beginning with its first quarter ended November 18, 2023. The adoption of this guidance did not have a material impact on the Company’s Condensed Consolidated Financial Statements. Refer to “Note F – Supplier Financing Programs.”

Recently Issued Accounting Pronouncements

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280). The amendments in this ASU require disclosures, on an annual and interim basis, of significant segment expenses that are regularly provided to the chief operating decision maker (CODM), as well as the aggregate amount of other segment items included in the reported measure of segment profit or loss. This ASU requires that a public entity disclose the title and position of the CODM and an explanation of how the CODM uses the reported measure(s) of segment profit or loss. Public entities will be required to provide all annual disclosures currently required by Topic 280 in interim periods, and entities with a single reportable segment are required to provide all the disclosures required by the amendments in the update and existing segment disclosures in Topic 280. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, and requires retrospective adoption. Early adoption is permitted. The Company will adopt this standard with our fiscal 2025 annual filing. The Company is currently evaluating these new disclosure requirements and the impact of adoption.

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740). The amendments in this ASU are intended to enhance the transparency of income tax information by updating income tax disclosure requirements. The guidance is effective for public entities for annual periods beginning after December 15, 2024, and early adoption is permitted. The amendments in this ASU should be applied on a prospective basis; however, retrospective application is permitted. The Company will adopt this standard with our fiscal 2026 annual filing. The Company is currently evaluating these new disclosure requirements and does not expect the adoption to have a material impact.

Share-Based Payments (Tables)

8 Months Ended

May 04, 2024

Share-Based Payments

Schedule of Weighted Average for Key Assumptions Used in Determining Fair Value of Options Granted and Related Share-Based Compensation Expense

The weighted average fair value of the stock option awards granted during the thirty-six week periods ended May 4, 2024 and May 6, 2023, using the Black-Scholes-Merton multiple-option pricing valuation model, was $915.03 and $764.68 per share, respectively, using the following weighted average key assumptions:


	Thirty-Six Weeks Ended
	May 4,		May 6,
	2024		2023

Expected price volatility	29	%	29	%
Risk-free interest rate	4.8	%	3.8	%
Weighted average expected lives (in years)	5.4		5.5
Forfeiture rate	7	%	10	%
Dividend yield	0	%	0	%

Marketable Debt Securities

8 Months Ended

May 04, 2024

Marketable Debt Securities

Marketable Debt Securities

Note E – Marketable Debt Securities

Marketable debt securities are carried at fair value, with unrealized gains and losses, net of income taxes, recorded in Accumulated other comprehensive loss until realized, and any credit risk related losses are recognized in net income in the period incurred. The Company’s basis for determining the cost of a security sold is the Specific Identification Model.

The Company’s available-for-sale marketable debt securities consisted of the following:


	May 4, 2024
	Amortized		Gross		Gross
	Cost		Unrealized		Unrealized		Fair
(in thousands)	Basis		Gains		Losses		Value

Corporate debt securities	$	28,377	$	13	$	(270)	$	28,120
Government bonds		56,502		376		(1,048)		55,830
Mortgage-backed securities		2,771		—		(118)		2,653
Asset-backed securities and other		32,540		—		(83)		32,457
	$	120,190	$	389	$	(1,519)	$	119,060


	August 26, 2023
	Amortized		Gross		Gross
	Cost		Unrealized		Unrealized		Fair
(in thousands)	Basis		Gains		Losses		Value

Corporate debt securities	$	31,683	$	17	$	(504)	$	31,196
Government bonds		63,747		—		(1,440)		62,307
Mortgage-backed securities		3,215		—		(213)		3,002
Asset-backed securities and other		25,242		—		(234)		25,008
	$	123,887	$	17	$	(2,391)	$	121,513

The marketable debt securities held at May 4, 2024 had effective maturities ranging from less than one year to approximately eleven years. In evaluating whether a credit loss exists for the securities, the Company considers factors such as the severity of the loss position, the credit worthiness of the investee, the term to maturity and the intent and ability to hold the investments until maturity or until recovery of fair value. An allowance for credit losses was deemed unnecessary given consideration of the factors above. The Company did not realize any material gains or losses on its marketable debt securities during the thirty-six week period ended May 4, 2024 and the comparable prior year period.

Included above in total available-for-sale marketable debt securities are $108.7 million and $105.0 million of marketable debt securities transferred by the Company’s insurance captive to a trust account to secure its obligations to an insurance company related to future workers’ compensation and casualty losses as of May 4, 2024 and August 26, 2023, respectively.

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		8 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	May 04, 2024	May 06, 2023	May 04, 2024	May 06, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 651,726	$ 647,723	$ 1,760,219	$ 1,663,585

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-60B

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-7

Reference 34: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Section 45
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-28

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1A

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1B

Reference 37: http://fasb.org/us-gaap/role/ref/legacyRef
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-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

+ Details

Marketable Debt Securities - Additional Information (Detail) - USD ($) $ in Millions	8 Months Ended
	May 04, 2024	Aug. 26, 2023
Marketable Debt Securities
Available for sale securities debt maturity period range	less than one year to approximately eleven years
Marketable securities transferred	$ 108.7	$ 105.0

Supplier Financing Programs

8 Months Ended

May 04, 2024

Supplier Financing Programs

Supplier Financing Programs

Note F – Supplier Financing Programs

The Company has arrangements with third-party financial institutions to confirm invoice balances owed by the Company to certain suppliers and pay the financial institutions the confirmed amounts on the invoice due dates. These arrangements allow the Company’s inventory suppliers, at their sole discretion, to enter into agreements directly with these financial institutions to finance the Company’s obligations to the suppliers at terms negotiated between the suppliers and the financial institutions. Supplier participation is optional and our obligations to our suppliers, including the amount and dates due, are not impacted by our suppliers’ decision to enter into an agreement with a third-party financial institution. As of May 4, 2024 and August 26, 2023, the Company had supplier obligations outstanding that had been confirmed under these arrangements of $4.8 billion for each period, which are included in Accounts payable and $226.0 million and $224.8 million, respectively, which are included in Other long-term liabilities in the Condensed Consolidated Balance Sheets.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	8 Months Ended
	May 04, 2024	May 06, 2023
Cash flows from operating activities:
Net income	$ 1,760,219	$ 1,663,585
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property and equipment	374,416	339,087
Other non-cash (income) charges	(40,000)	74,000
Amortization of debt origination fees	8,155	6,065
Deferred income taxes	9,016	(3,424)
Share-based compensation expense	71,314	62,389
Changes in operating assets and liabilities:
Accounts receivable	(66,550)	38,317
Merchandise inventories	(353,813)	(93,163)
Accounts payable and accrued expenses	126,488	(239,900)
Income taxes	69,746	64,041
Other, net	(25,125)	(38,221)
Net cash provided by operating activities	1,933,866	1,872,776
Cash flows from investing activities:
Capital expenditures	(725,910)	(430,441)
Purchase of marketable debt securities	(17,551)	(48,445)
Proceeds from sale of marketable debt securities	21,245	37,544
Investment in tax credit equity investments	(193,327)	(50,685)
Other, net	(715)	13,051
Net cash used in investing activities	(916,258)	(478,976)
Cash flows from financing activities:
Net proceeds from commercial paper	631,300	524,000
Proceeds from issuance of debt	1,000,000	1,000,000
Repayment of debt	(300,000)	(300,000)
Net proceeds from sale of common stock	154,367	154,863
Purchase of treasury stock	(2,437,176)	(2,699,996)
Repayment of principal portion of finance lease liabilities	(62,455)	(60,927)
Other, net	(5,001)	(6,247)
Net cash used in financing activities	(1,018,965)	(1,388,307)
Effect of exchange rate changes on cash	(339)	5,043
Net (decrease)/increase in cash and cash equivalents	(1,696)	10,536
Cash and cash equivalents at beginning of period	277,054	264,380
Cash and cash equivalents at end of period	$ 275,358	$ 274,916

Litigation

8 Months Ended

May 04, 2024

Litigation

Litigation

Note G – Litigation

The Company is involved in various legal proceedings incidental to the conduct of its business, including, but not limited to, claims and allegations related to wage and hour violations, unlawful termination, employment practices, product liability, privacy and cybersecurity, environmental matters, intellectual property rights or regulatory compliance. The Company does not currently believe that, either individually or in the aggregate, these matters will result in liabilities material to the Company’s financial condition, results of operations or cash flows.

Financing - Schedule of Debt - Interest Rates And Maturity (Detail)	8 Months Ended	12 Months Ended
	May 04, 2024	Aug. 26, 2023	Apr. 18, 2024	Oct. 25, 2023
3.125% Senior Notes due April 2024, effective interest rate 3.32%
Debt Instrument [Line Items]
Stated interest rate percentage	3.125%	3.125%	3.125%
Debt instrument maturity, month and year	2024-04	2024-04
Effective interest rate	3.32%	3.32%
3.250% Senior Notes due April 2025, effective interest rate 3.36%
Debt Instrument [Line Items]
Stated interest rate percentage	3.25%	3.25%
Debt instrument maturity, month and year	2025-04	2025-04
Effective interest rate	3.36%	3.36%
3.625% Senior Notes due April 2025, effective interest rate 3.78%
Debt Instrument [Line Items]
Stated interest rate percentage	3.625%	3.625%
Debt instrument maturity, month and year	2025-04	2025-04
Effective interest rate	3.78%	3.78%
3.125% Senior Notes due April 2026, effective interest rate 3.28%
Debt Instrument [Line Items]
Stated interest rate percentage	3.125%	3.125%
Debt instrument maturity, month and year	2026-04	2026-04
Effective interest rate	3.28%	3.28%
5.050% Senior Notes due July 2026, effective interest rate 5.09%
Debt Instrument [Line Items]
Stated interest rate percentage	5.05%	5.05%
Debt instrument maturity, month and year	2026-07	2026-07
Effective interest rate	5.09%	5.09%
3.750% Senior Notes due June 2027, effective interest rate 3.83%
Debt Instrument [Line Items]
Stated interest rate percentage	3.75%	3.75%
Debt instrument maturity, month and year	2027-06	2027-06
Effective interest rate	3.83%	3.83%
4.500% Senior Notes due February 2028, effective interest rate 4.43%
Debt Instrument [Line Items]
Stated interest rate percentage	4.50%	4.50%
Debt instrument maturity, month and year	2028-02	2028-02
Effective interest rate	4.43%	4.43%
6.250% Senior Notes due November 2028, effective interest rate 6.46%
Debt Instrument [Line Items]
Stated interest rate percentage	6.25%			6.25%
Debt instrument maturity, month and year	2028-11
Effective interest rate	6.46%
3.750% Senior Notes due April 2029, effective interest rate 3.86%
Debt Instrument [Line Items]
Stated interest rate percentage	3.75%	3.75%
Debt instrument maturity, month and year	2029-04	2029-04
Effective interest rate	3.86%	3.86%
4.000% Senior Notes due April 2030, effective interest rate 4.09%
Debt Instrument [Line Items]
Stated interest rate percentage	4.00%	4.00%
Debt instrument maturity, month and year	2030-04	2030-04
Effective interest rate	4.09%	4.09%
1.650% Senior Notes due January 2031, effective interest rate 2.19%
Debt Instrument [Line Items]
Stated interest rate percentage	1.65%	1.65%
Debt instrument maturity, month and year	2031-01	2031-01
Effective interest rate	2.19%	2.19%
4.750% Senior Notes due August 2032, effective interest rate 4.76%
Debt Instrument [Line Items]
Stated interest rate percentage	4.75%	4.75%
Debt instrument maturity, month and year	2032-08	2032-08
Effective interest rate	4.76%	4.76%
4.750% Senior Notes due February 2033, effective interest rate 4.70%
Debt Instrument [Line Items]
Stated interest rate percentage	4.75%	4.75%
Debt instrument maturity, month and year	2033-02	2033-02
Effective interest rate	4.70%	4.70%
5.200% Senior Notes due August 2033, effective interest rate 5.22%
Debt Instrument [Line Items]
Stated interest rate percentage	5.20%	5.20%
Debt instrument maturity, month and year	2033-08	2033-08
Effective interest rate	5.22%	5.22%
6.550% Senior Notes due November 2033, effective interest rate 6.71%
Debt Instrument [Line Items]
Stated interest rate percentage	6.55%			6.55%
Debt instrument maturity, month and year	2033-11
Effective interest rate	6.71%
Commercial paper
Debt Instrument [Line Items]
Weighted average interest rate of commercial paper	5.45%	5.43%

Merchandise Inventories

8 Months Ended

May 04, 2024

Merchandise Inventories

Merchandise Inventories

Note B – Merchandise Inventories

Merchandise inventories include related purchasing, storage and handling costs. Inventory cost has been determined using the last-in, first-out (“LIFO”) method stated at the lower of cost or net realizable value for domestic inventories and the weighted average cost method stated at the lower of cost or net realizable value for Mexico and Brazil inventories. The Company’s LIFO credit reserve balance decreased to $19.0 million at May 4, 2024 from $59.0 million at August 26, 2023 as a result of net deflation, primarily driven by reduced freight costs. Until the credit reserve balance is exhausted, decreases are recorded as a non-cash benefit to cost of sales and increases are recorded as a non-cash charge to cost of sales. Debit LIFO reserve balances are not recorded as the Company’s policy is not to write up inventory in excess of replacement cost.

Share-Based Payments - Weighted Average for Key Assumptions Used in Determining Fair Value of Options Granted and Related Share-Based Compensation Expense (Detail)	8 Months Ended
	May 04, 2024	May 06, 2023
Share-Based Payments
Expected price volatility	29.00%	29.00%
Risk-free interest rate	4.80%	3.80%
Weighted average expected lives (in years)	5 years 4 months 24 days	5 years 6 months
Forfeiture rate	7.00%	10.00%
Dividend yield	0.00%	0.00%

Accumulated Other Comprehensive Loss (Tables)

8 Months Ended

May 04, 2024

Accumulated Other Comprehensive Loss

Changes in Accumulated Other Comprehensive Loss

Changes in Accumulated other comprehensive loss for the twelve week periods ended May 4, 2024 and May 6, 2023 consisted of the following:


			Net
	Foreign		Unrealized
	Currency		Gain (Loss)
(in thousands)	and Other⁽¹⁾		on Securities		Derivatives		Total

Balance at February 10, 2024	$	(192,439)	$	(839)	$	(11,621)	$	(204,899)
Other comprehensive income (loss) before reclassifications⁽²⁾		1,630		(34)		—		1,596
Amounts reclassified from Accumulated other comprehensive loss⁽²⁾		—		—		404		404
Balance at May 4, 2024	$	(190,809)	$	(873)	$	(11,217)	$	(202,899)


			Net
	Foreign		Unrealized
	Currency		Gain (Loss)
(in thousands)	and Other⁽¹⁾		on Securities		Derivatives		Total

Balance at February 11, 2023	$	(254,795)	$	(2,294)	$	(12,223)	$	(269,312)
Other comprehensive income (loss) before reclassifications⁽²⁾		41,657		948		(1,146)		41,459
Amounts reclassified from Accumulated other comprehensive loss⁽²⁾		—		(25)		403		378
Balance at May 6, 2023	$	(213,138)	$	(1,371)	$	(12,966)	$	(227,475)

Changes in Accumulated other comprehensive loss for the thirty-six week periods ended May 4, 2024 and May 6, 2023 consisted of the following:


			Net
	Foreign		Unrealized
	Currency		Gain (Loss)
(in thousands)	and Other⁽¹⁾		on Securities		Derivatives		Total

Balance at August 26, 2023	$	(176,557)	$	(1,851)	$	(12,428)	$	(190,836)
Other comprehensive (loss) income before reclassifications⁽²⁾		(14,252)		978		—		(13,274)
Amounts reclassified from Accumulated other comprehensive loss⁽²⁾		—		—		1,211		1,211
Balance at May 4, 2024	$	(190,809)	$	(873)	$	(11,217)	$	(202,899)


			Net
	Foreign		Unrealized
	Currency		Gain (Loss)
(in thousands)	and Other⁽¹⁾		on Securities		Derivatives		Total

Balance at August 27, 2022	$	(280,190)	$	(2,171)	$	(18,175)	$	(300,536)
Other comprehensive income before reclassifications⁽²⁾		67,052		825		3,635		71,512
Amounts reclassified from Accumulated other comprehensive loss⁽²⁾		—		(25)		1,574		1,549
Balance at May 6, 2023	$	(213,138)	$	(1,371)	$	(12,966)	$	(227,475)

(1)	Foreign currency is shown net of U.S. tax to account for foreign currency impacts of certain undistributed non-U.S. subsidiaries’ earnings. Other foreign currency is not shown net of additional U.S. tax as other basis differences of non-U.S. subsidiaries are intended to be permanently reinvested.

(2)	Amounts shown are net of tax.

Fair Value Measurements (Tables)

8 Months Ended

May 04, 2024

Fair Value Measurements

Company's marketable debt securities measured at Fair Value on Recurring Basis

The Company’s marketable debt securities measured at fair value on a recurring basis were as follows:


	May 4, 2024
(in thousands)	Level 1		Level 2		Level 3		Fair Value

Other current assets	$	52,352	$	8,289	$	—	$	60,641
Other long-term assets		26,235		32,184		—		58,419
	$	78,587	$	40,473	$	—	$	119,060


	August 26, 2023
(in thousands)	Level 1		Level 2		Level 3		Fair Value

Other current assets	$	35,349	$	4,290	$	—	$	39,639
Other long-term assets		71,028		10,846		—		81,874
	$	106,377	$	15,136	$	—	$	121,513

Financing - Schedule of Debt (Detail) - USD ($) $ in Thousands	May 04, 2024	Oct. 25, 2023	Aug. 26, 2023
Debt Instrument [Line Items]
Total debt before discounts and debt issuance costs	$ 9,040,900		$ 7,709,600
Less: Current portion of debt	500,000
Less: Discounts and debt issuance costs	44,612		41,051
Long-term debt	8,496,288		7,668,549
3.125% Senior Notes due April 2024, effective interest rate 3.32%
Debt Instrument [Line Items]
Senior notes			300,000
3.250% Senior Notes due April 2025, effective interest rate 3.36%
Debt Instrument [Line Items]
Senior notes	400,000		400,000
3.625% Senior Notes due April 2025, effective interest rate 3.78%
Debt Instrument [Line Items]
Senior notes	500,000		500,000
3.125% Senior Notes due April 2026, effective interest rate 3.28%
Debt Instrument [Line Items]
Senior notes	400,000		400,000
5.050% Senior Notes due July 2026, effective interest rate 5.09%
Debt Instrument [Line Items]
Senior notes	450,000		450,000
3.750% Senior Notes due June 2027, effective interest rate 3.83%
Debt Instrument [Line Items]
Senior notes	600,000		600,000
4.500% Senior Notes due February 2028, effective interest rate 4.43%
Debt Instrument [Line Items]
Senior notes	450,000		450,000
6.250% Senior Notes due November 2028, effective interest rate 6.46%
Debt Instrument [Line Items]
Senior notes	500,000	$ 500,000
3.750% Senior Notes due April 2029, effective interest rate 3.86%
Debt Instrument [Line Items]
Senior notes	450,000		450,000
4.000% Senior Notes due April 2030, effective interest rate 4.09%
Debt Instrument [Line Items]
Senior notes	750,000		750,000
1.650% Senior Notes due January 2031, effective interest rate 2.19%
Debt Instrument [Line Items]
Senior notes	600,000		600,000
4.750% Senior Notes due August 2032, effective interest rate 4.76%
Debt Instrument [Line Items]
Senior notes	750,000		750,000
4.750% Senior Notes due February 2033, effective interest rate 4.70%
Debt Instrument [Line Items]
Senior notes	550,000		550,000
5.200% Senior Notes due August 2033, effective interest rate 5.22%
Debt Instrument [Line Items]
Senior notes	300,000		300,000
6.550% Senior Notes due November 2033, effective interest rate 6.71%
Debt Instrument [Line Items]
Senior notes	500,000	$ 500,000
Commercial paper
Debt Instrument [Line Items]
Commercial paper	$ 1,840,900		$ 1,209,600

Fair Value Measurements

8 Months Ended

May 04, 2024

Fair Value Measurements

Fair Value Measurements

Note D – Fair Value Measurements

The Company defines fair value as the price received to transfer an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. In accordance with ASC 820, Fair Value Measurements and Disclosures, the Company uses the fair value hierarchy, which prioritizes the inputs used to measure fair value. The hierarchy, as defined below, gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The three levels of the fair value hierarchy are set forth below:

Level 1 inputs—unadjusted quoted prices in active markets for identical assets or liabilities that the Company can access at the measurement date.

Level 2 inputs—inputs other than quoted market prices included within Level 1 that are observable, either directly or indirectly, for the asset or liability.

Level 3 inputs—unobservable inputs for the asset or liability, which are based on the Company’s own assumptions as there is little, if any, observable activity in identical assets or liabilities.

Marketable Debt Securities Measured at Fair Value on a Recurring Basis

The Company’s marketable debt securities measured at fair value on a recurring basis were as follows:


	May 4, 2024
(in thousands)	Level 1		Level 2		Level 3		Fair Value

Other current assets	$	52,352	$	8,289	$	—	$	60,641
Other long-term assets		26,235		32,184		—		58,419
	$	78,587	$	40,473	$	—	$	119,060


	August 26, 2023
(in thousands)	Level 1		Level 2		Level 3		Fair Value

Other current assets	$	35,349	$	4,290	$	—	$	39,639
Other long-term assets		71,028		10,846		—		81,874
	$	106,377	$	15,136	$	—	$	121,513

At May 4, 2024 and August 26, 2023, the fair value measurement amounts for assets and liabilities recorded in the accompanying Condensed Consolidated Balance Sheets consisted of short-term marketable debt securities, which are included within Other current assets, and long-term marketable debt securities, which are included in Other long-term assets. The Company’s marketable debt securities are typically valued at the closing price in the principal active market as of the last business day of the quarter or through the use of other market inputs relating to the securities, including benchmark yields and reported trades. The fair values of the marketable debt securities, by asset class, are described in “Note E – Marketable Debt Securities.”

Financial Instruments not Recognized at Fair Value

The Company has financial instruments, including cash and cash equivalents, accounts receivable, other current assets and accounts payable. The carrying amounts of these financial instruments approximate fair value because of their short maturities. A discussion of the carrying values and fair values of the Company’s debt is included in “Note H – Financing.”

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
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+ Details

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	May 04, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		8 Months Ended
	May 04, 2024	May 06, 2023	May 04, 2024	May 06, 2023
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited)
Net sales	$ 4,235,485	$ 4,090,541	$ 12,284,888	$ 11,766,591
Cost of sales, including warehouse and delivery expenses	1,969,963	1,944,415	5,725,698	5,695,840
Gross profit	2,265,522	2,146,126	6,559,190	6,070,751
Operating, selling, general and administrative expenses	1,365,341	1,287,645	4,067,163	3,819,261
Operating profit	900,181	858,481	2,492,027	2,251,490
Interest expense, net	104,422	74,313	298,426	197,645
Income before income taxes	795,759	784,168	2,193,601	2,053,845
Income tax expense	144,033	136,445	433,382	390,260
Net income	$ 651,726	$ 647,723	$ 1,760,219	$ 1,663,585
Weighted average shares for basic earnings per share	17,273	18,389	17,434	18,700
Effect of dilutive stock equivalents	488	594	507	622
Weighted average shares for diluted earnings per share	17,761	18,983	17,941	19,322
Basic earnings per share	$ 37.73	$ 35.22	$ 100.96	$ 88.96
Diluted earnings per share	$ 36.69	$ 34.12	$ 98.11	$ 86.10

Financing (Tables)

8 Months Ended

May 04, 2024

Financing

Schedule of Debt

The Company’s debt consisted of the following:


	May 4,		August 26,
(in thousands)	2024		2023

3.125% Senior Notes due April 2024, effective interest rate 3.32%	$	—	$	300,000
3.250% Senior Notes due April 2025, effective interest rate 3.36%		400,000		400,000
3.625% Senior Notes due April 2025, effective interest rate 3.78%		500,000		500,000
3.125% Senior Notes due April 2026, effective interest rate 3.28%		400,000		400,000
5.050% Senior Notes due July 2026, effective interest rate 5.09%		450,000		450,000
3.750% Senior Notes due June 2027, effective interest rate 3.83%		600,000		600,000
4.500% Senior Notes due February 2028, effective interest rate 4.43%		450,000		450,000
6.250% Senior Notes due November 2028, effective interest rate 6.46%		500,000		—
3.750% Senior Notes due April 2029, effective interest rate 3.86%		450,000		450,000
4.000% Senior Notes due April 2030, effective interest rate 4.09%		750,000		750,000
1.650% Senior Notes due January 2031, effective interest rate 2.19%		600,000		600,000
4.750% Senior Notes due August 2032, effective interest rate 4.76%		750,000		750,000
4.750% Senior Notes due February 2033, effective interest rate 4.70%		550,000		550,000
5.200% Senior Notes due August 2033, effective interest rate 5.22%		300,000		300,000
6.550% Senior Notes due November 2033, effective interest rate 6.71%		500,000		—
Commercial paper, weighted average interest rate 5.45% at May 4, 2024 and 5.43% at August 26, 2023		1,840,900		1,209,600
Total debt before discounts and debt issuance costs		9,040,900		7,709,600
Less: Current portion of debt		500,000		—
Less: Discounts and debt issuance costs		44,612		41,051
Long-term debt	$	8,496,288	$	7,668,549

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details

General (Policies)	8 Months Ended
General (Policies)	May 04, 2024
General
Basis of Accounting	The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with United States (“U.S.”) generally accepted accounting principles (“U.S. GAAP”) for interim financial information and are presented in accordance with the requirements of Form 10-Q and Article 10 of Regulation S-X of the Securities and Exchange Commission’s (the “SEC”) rules and regulations. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments, including normal recurring accruals, considered necessary for a fair presentation have been included. For further information, refer to the consolidated financial statements and related notes included in the AutoZone, Inc. (“AutoZone” or the “Company”) Annual Report on Form 10-K for the year ended August 26, 2023.
Fiscal Period	Operating results for the twelve and thirty-six weeks ended May 4, 2024 are not necessarily indicative of the results that may be expected for the full fiscal year ending August 31, 2024. Each of the first three quarters of AutoZone’s fiscal year consists of 12 weeks, and the fourth quarter consists of 16 or 17 weeks. The fourth quarter of fiscal 2024 has 17 weeks, and the fourth quarter of fiscal 2023 had 16 weeks.
Recent Accounting Pronouncements	Recently Adopted Accounting Pronouncements In September 2022, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2022-04, Liabilities – Supplier Finance Programs (Subtopic 405-50). This ASU requires buyers in a supplier finance program to disclose sufficient qualitative and quantitative information about the program to allow a reader of the financial statements to understand the program’s nature, activity during the period, changes from period to period and the program’s potential magnitude. This ASU is effective for all companies for fiscal years beginning after December 15, 2022, including interim periods within those years, and requires retrospective adoption. The Company adopted this standard on a retrospective basis beginning with its first quarter ended November 18, 2023. The adoption of this guidance did not have a material impact on the Company’s Condensed Consolidated Financial Statements. Refer to “Note F – Supplier Financing Programs.” Recently Issued Accounting Pronouncements In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280). The amendments in this ASU require disclosures, on an annual and interim basis, of significant segment expenses that are regularly provided to the chief operating decision maker (CODM), as well as the aggregate amount of other segment items included in the reported measure of segment profit or loss. This ASU requires that a public entity disclose the title and position of the CODM and an explanation of how the CODM uses the reported measure(s) of segment profit or loss. Public entities will be required to provide all annual disclosures currently required by Topic 280 in interim periods, and entities with a single reportable segment are required to provide all the disclosures required by the amendments in the update and existing segment disclosures in Topic 280. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, and requires retrospective adoption. Early adoption is permitted. The Company will adopt this standard with our fiscal 2025 annual filing. The Company is currently evaluating these new disclosure requirements and the impact of adoption. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740). The amendments in this ASU are intended to enhance the transparency of income tax information by updating income tax disclosure requirements. The guidance is effective for public entities for annual periods beginning after December 15, 2024, and early adoption is permitted. The amendments in this ASU should be applied on a prospective basis; however, retrospective application is permitted. The Company will adopt this standard with our fiscal 2026 annual filing. The Company is currently evaluating these new disclosure requirements and does not expect the adoption to have a material impact.

Segment Reporting - Segment Results (Detail) - USD ($) $ in Thousands	3 Months Ended		8 Months Ended
	May 04, 2024	May 06, 2023	May 04, 2024	May 06, 2023
Segment Reporting Information [Line Items]
Net Sales	$ 4,235,485	$ 4,090,541	$ 12,284,888	$ 11,766,591
Gross profit	2,265,522	2,146,126	6,559,190	6,070,751
Operating, selling, general and administrative expenses	(1,365,341)	(1,287,645)	(4,067,163)	(3,819,261)
Interest expense, net	(104,422)	(74,313)	(298,426)	(197,645)
Income before income taxes	795,759	784,168	2,193,601	2,053,845
Auto Parts Stores
Segment Reporting Information [Line Items]
Net Sales	4,156,411	4,016,692	12,058,444	11,555,708
Gross profit	2,218,950	2,102,768	6,424,651	5,945,080
Other
Segment Reporting Information [Line Items]
Net Sales	79,074	73,849	226,444	210,883
Gross profit	$ 46,572	$ 43,358	$ 134,539	$ 125,671

- Definition

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+ Details

Stock Repurchase Program - Additional Information (Detail) - USD ($) $ in Thousands		1 Months Ended	3 Months Ended		8 Months Ended		316 Months Ended
	Dec. 20, 2023	May 31, 2024	May 04, 2024	May 06, 2023	May 04, 2024	May 06, 2023	May 04, 2024
Stock Repurchase Program
Purchase of treasury stock, shares			242,000	356,000	905,400	1,120,000	154,900,000
Purchase of treasury stock			$ 734,713	$ 908,225	$ 2,459,760	$ 2,714,015	$ 36,300,000
Increase in authorization of stock repurchase, value	$ 2,000,000
Stock repurchase authorized	$ 37,700,000
Remaining value authorized for share repurchases			$ 1,400,000		$ 1,400,000		$ 1,400,000
Subsequent Events
Stock Repurchase Program
Purchase of treasury stock, shares		65,600
Purchase of treasury stock		$ 188,000
Common Stock
Stock Repurchase Program
Retirement of treasury shares, shares					1,703,000	2,051,000
Retirement of treasury shares					$ 17	$ 20
Additional Paid-in Capital
Stock Repurchase Program
Retirement of treasury shares					142,391	143,440
Retained Deficit
Stock Repurchase Program
Retirement of treasury shares					$ 4,128,131	$ 4,157,637

Variable Interest Entities

8 Months Ended

May 04, 2024

Variable Interest Entities

Variable Interest Entities

Note C – Variable Interest Entities

The Company invests in certain tax credit funds that promote renewable energy and generate a return primarily through the realization of federal tax credits. The Company considers its investments in these tax credit funds as investments in variable interest entities (“VIEs”). The Company evaluates the investment in any VIE to determine whether it is the primary beneficiary. The Company considers a variety of factors in identifying the entity that holds the power to direct matters that most significantly impact the VIE’s economic performance including, but not limited to, the ability to direct financing, leasing, construction and other operating decisions and activities. As of May 4, 2024, the Company held tax credit equity investments that were deemed to be VIEs and determined that it was not the primary beneficiary of the entities, as it did not have the power to direct the activities that most significantly impacted the entities and accounted for these investments using the equity method. The Company’s maximum exposure to losses is generally limited to its net investment, which was $110.9 million as of May 4, 2024 and $29.6 million as of August 26, 2023, and was included in Other long-term assets on the accompanying Condensed Consolidated Balance Sheets.

Fair Value Measurements - Company's Marketable Debt Securities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	May 04, 2024	Aug. 26, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	$ 119,060	$ 121,513
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other current assets	60,641	39,639
Other long-term assets	58,419	81,874
Total	119,060	121,513
Level 1 \| Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other current assets	52,352	35,349
Other long-term assets	26,235	71,028
Total	78,587	106,377
Level 2 \| Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other current assets	8,289	4,290
Other long-term assets	32,184	10,846
Total	$ 40,473	$ 15,136

- Definition

Amount of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

+ Details

Share-Based Payments

8 Months Ended

May 04, 2024

Share-Based Payments

Share-Based Payments

Note K – Share-Based Payments

AutoZone maintains several equity incentive plans, which provide equity-based compensation to non-employee directors and eligible employees for their service to AutoZone, its subsidiaries or affiliates. The Company recognizes compensation expense for share-based payments based on the fair value of the awards at the grant date. Share-based payments include stock option grants, restricted stock grants, restricted stock unit grants, stock appreciation rights, discounts on shares sold to employees under share purchase plans and other awards. Additionally, directors’ fees are paid in restricted stock units with value equivalent to the value of shares of common stock as of the grant date. The change in fair value of liability-based stock awards is also recognized in share-based compensation expense.

Stock Options:

The Company made stock option grants for 134,821 shares during the thirty-six week period ended May 4, 2024 and granted options to purchase 161,510 shares during the comparable prior year period. The Company grants options to purchase common stock to certain of its employees under its equity incentive plans at prices equal to or above the market value of the stock on the date of grant. Option-vesting periods range from four to five years, with the vast majority of options vesting ratably over four years. The fair value of each option is amortized into compensation expense on a straight-line basis over the requisite service period, less estimated forfeitures. Employees who meet the qualified retirement provisions under the AutoZone, Inc. 2020 Omnibus Incentive Award Plan are assumed to have a 0% forfeiture rate. All other employee grants assume a 10% forfeiture rate, which is based on historical experience.


	Thirty-Six Weeks Ended
	May 4,		May 6,
	2024		2023

Expected price volatility	29	%	29	%
Risk-free interest rate	4.8	%	3.8	%
Weighted average expected lives (in years)	5.4		5.5
Forfeiture rate	7	%	10	%
Dividend yield	0	%	0	%

During the thirty-six week period ended May 4, 2024, and the comparable prior year period, 185,304 and 208,482 stock options, respectively, were exercised at a weighted average exercise price of $801.74 and $705.52, respectively.

As of May 4, 2024, total unrecognized share-based expense related to stock options, net of estimated forfeitures, was approximately $131.2 million, before income taxes, which we expect to recognize over an estimated weighted average period of 3.1 years.

Restricted Stock Units:

Restricted stock unit awards are valued at the market price of a share of the Company’s stock on the date of grant. Grants of employee restricted stock units vest ratably on an annual basis over a four-year service period and are payable in shares of common stock on the vesting date. Compensation expense for grants of employee restricted stock units is recognized on a straight-line basis over the four-year service period, less estimated forfeitures, which are consistent with stock option forfeiture assumptions. Grants of non-employee director restricted stock units are made and expensed on January 1 of each year, as they vest immediately.

The Company made grants of 3,173 and 3,584 restricted stock unit awards at weighted average grant date fair values of $2,560.56 and $2,267.40, respectively, during the thirty-six week periods ended May 4, 2024 and May 6, 2023.

During the thirty-six week period ended May 4, 2024, and the comparable prior year period, 4,741 and 6,643 restricted stock unit awards, respectively, were vested at a weighted average grant date fair value of $1,617.00 and $1,276.32, respectively.

As of May 4, 2024, total unrecognized stock-based compensation expense related to nonvested restricted stock unit awards, net of estimated forfeitures, was approximately $8.5 million, before income taxes, which we expect to recognize over an estimated weighted average period of 2.6 years.

Total share-based compensation expense (a component of Operating, selling, general and administrative expenses) for the twelve and thirty-six week periods ended May 4, 2024, was $25.4 million and $71.3 million, respectively. For the comparable prior year periods, total share-based compensation expense was $20.0 million and $62.4 million, respectively.

For the twelve and thirty-six week periods ended May 4, 2024, 131,280 and 115,997, respectively, stock options were excluded from the diluted earnings per share computation because they would have been anti-dilutive. For the comparable prior year periods, 154,041 and 132,965 anti-dilutive stock options were excluded from the dilutive earnings per share computation.

See AutoZone’s Annual Report on Form 10-K for the year ended August 26, 2023 and other filings with the SEC for a discussion regarding the methodology used in developing AutoZone’s assumptions to determine the fair value of the

option awards and a description of AutoZone’s Amended and Restated 2011 Equity Incentive Award Plan, the AutoZone, Inc. 2020 Omnibus Incentive Award Plan and the Director Compensation Program.

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	May 04, 2024	Aug. 26, 2023
Current assets:
Cash and cash equivalents	$ 275,358	$ 277,054
Accounts receivable	586,775	520,385
Merchandise inventories	6,155,300	5,764,143
Other current assets	272,019	217,844
Total current assets	7,289,452	6,779,426
Property and equipment:
Property and equipment	11,075,765	10,337,890
Less: Accumulated depreciation and amortization	(5,026,706)	(4,741,342)
Property and equipment, net	6,049,059	5,596,548
Operating lease right-of-use assets	3,097,047	2,998,097
Goodwill	302,645	302,645
Deferred income taxes	85,267	86,002
Other long-term assets	284,962	223,160
Total long-term assets	3,769,921	3,609,904
Total assets	17,108,432	15,985,878
Current liabilities:
Accounts payable	7,369,673	7,201,281
Current portion of operating lease liabilities	303,179	257,256
Current portion of debt	500,000
Accrued expenses and other	989,472	1,000,841
Income taxes payable	30,263	52,478
Total current liabilities	9,192,587	8,511,856
Long-term debt	8,496,288	7,668,549
Operating lease liabilities, less current portion	2,963,026	2,917,046
Deferred income taxes	543,046	536,278
Other long-term liabilities	751,722	702,043
Commitments and contingencies
Stockholders' deficit:
Preferred stock, authorized 1,000 shares; no shares issued
Common stock, par value $.01 per share, authorized 200,000 shares; 17,425 shares issued and 17,144 shares outstanding as of May 4, 2024; 18,936 shares issued and 17,857 shares outstanding as of August 26, 2023	174	189
Additional paid-in capital	1,565,860	1,484,992
Retained deficit	(5,327,190)	(2,959,278)
Accumulated other comprehensive loss	(202,899)	(190,836)
Treasury stock, at cost	(874,182)	(2,684,961)
Total stockholders' deficit	(4,838,237)	(4,349,894)
Total liabilities and stockholders' deficit	$ 17,108,432	$ 15,985,878

Segment Reporting

8 Months Ended

May 04, 2024

Segment Reporting

Segment Reporting

Note L – Segment Reporting

The Company’s primary operating segments (Domestic Auto Parts, Mexico and Brazil) are aggregated as one reportable segment: Auto Parts Stores. The criteria the Company used to identify the reportable segment are primarily the nature of the products the Company sells and the operating results that are regularly reviewed by the Company’s chief operating decision maker to make decisions about the resources to be allocated to the business units and to assess performance. The accounting policies of the Company’s reportable segment are the same as those described in “Note A – Significant Accounting Policies” in its Annual Report on Form 10-K for the year ended August 26, 2023.

The Auto Parts Stores segment is a retailer and distributor of automotive parts and accessories through the Company’s 7,236 stores in the U.S., Mexico and Brazil. 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.

The Other category reflects business activities of two operating segments that are not separately reportable due to the materiality of these operating segments. The operating segments include ALLDATA, which produces, sells and maintains automotive diagnostic, repair and shop management software used in the automotive repair industry and E-commerce, which includes direct sales to customers through www.autozone.com for sales that are not fulfilled by local stores.

The Company evaluates its reportable segment primarily on the basis of net sales and segment profit, which is defined as gross profit. Segment results for the periods presented were as follows:


	Twelve Weeks Ended				Thirty-Six Weeks Ended
	May 4,		May 6,		May 4,		May 6,
(in thousands)	2024		2023		2024		2023

Net Sales
Auto Parts Stores	$	4,156,411	$	4,016,692	$	12,058,444	$	11,555,708
Other		79,074		73,849		226,444		210,883
Total	$	4,235,485	$	4,090,541	$	12,284,888	$	11,766,591

Segment Profit
Auto Parts Stores	$	2,218,950	$	2,102,768	$	6,424,651	$	5,945,080
Other		46,572		43,358		134,539		125,671
Gross profit		2,265,522		2,146,126		6,559,190		6,070,751
Operating, selling, general and administrative expenses		(1,365,341)		(1,287,645)		(4,067,163)		(3,819,261)
Interest expense, net		(104,422)		(74,313)		(298,426)		(197,645)
Income before income taxes	$	795,759	$	784,168	$	2,193,601	$	2,053,845

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		8 Months Ended
	May 04, 2024	May 06, 2023	May 04, 2024	May 06, 2023
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited)
Net income	$ 651,726	$ 647,723	$ 1,760,219	$ 1,663,585
Other comprehensive income (loss):
Foreign currency translation adjustments	1,630	41,657	(14,252)	67,052
Unrealized (losses) gains on marketable debt securities, net of taxes	(34)	923	978	800
Net derivative activities, net of taxes	404	(743)	1,211	5,209
Total other comprehensive income (loss)	2,000	41,837	(12,063)	73,061
Comprehensive income	$ 653,726	$ 689,560	$ 1,748,156	$ 1,736,646

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

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Amount after tax and reclassification adjustments of other comprehensive income (loss).

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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1A

+ Details

Cover Page - shares	8 Months Ended
Cover Page - shares	May 04, 2024	May 31, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	May 04, 2024
Entity File Number	1-10714
Entity Registrant Name	AUTOZONE INC
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	62-1482048
Entity Address, Address Line One	123 South Front Street
Entity Address, City or Town	Memphis
Entity Address, State or Province	TN
Entity Address, Postal Zip Code	38103
City Area Code	901
Local Phone Number	495-6500
Title of 12(b) Security	Common Stock
Trading Symbol	AZO
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		17,082,810
Current Fiscal Year End Date	--08-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Entity Central Index Key	0000866787
Amendment Flag	false

Merchandise Inventories (Detail) - USD ($) $ in Millions	May 04, 2024	Aug. 26, 2023
Merchandise Inventories
LIFO credit reserve balance	$ 19.0	$ 59.0

Accumulated Other Comprehensive Loss

8 Months Ended

May 04, 2024

Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive Loss

Note J – Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss includes foreign currency translation adjustments, unrealized gains (losses) on available-for-sale marketable debt securities and activity for interest rate swaps and treasury rate locks that qualified as cash flow hedges.

Changes in Accumulated other comprehensive loss for the twelve week periods ended May 4, 2024 and May 6, 2023 consisted of the following:


			Net
	Foreign		Unrealized
	Currency		Gain (Loss)
(in thousands)	and Other⁽¹⁾		on Securities		Derivatives		Total

Balance at February 10, 2024	$	(192,439)	$	(839)	$	(11,621)	$	(204,899)
Other comprehensive income (loss) before reclassifications⁽²⁾		1,630		(34)		—		1,596
Amounts reclassified from Accumulated other comprehensive loss⁽²⁾		—		—		404		404
Balance at May 4, 2024	$	(190,809)	$	(873)	$	(11,217)	$	(202,899)


			Net
	Foreign		Unrealized
	Currency		Gain (Loss)
(in thousands)	and Other⁽¹⁾		on Securities		Derivatives		Total

Balance at February 11, 2023	$	(254,795)	$	(2,294)	$	(12,223)	$	(269,312)
Other comprehensive income (loss) before reclassifications⁽²⁾		41,657		948		(1,146)		41,459
Amounts reclassified from Accumulated other comprehensive loss⁽²⁾		—		(25)		403		378
Balance at May 6, 2023	$	(213,138)	$	(1,371)	$	(12,966)	$	(227,475)

Changes in Accumulated other comprehensive loss for the thirty-six week periods ended May 4, 2024 and May 6, 2023 consisted of the following:


			Net
	Foreign		Unrealized
	Currency		Gain (Loss)
(in thousands)	and Other⁽¹⁾		on Securities		Derivatives		Total

Balance at August 26, 2023	$	(176,557)	$	(1,851)	$	(12,428)	$	(190,836)
Other comprehensive (loss) income before reclassifications⁽²⁾		(14,252)		978		—		(13,274)
Amounts reclassified from Accumulated other comprehensive loss⁽²⁾		—		—		1,211		1,211
Balance at May 4, 2024	$	(190,809)	$	(873)	$	(11,217)	$	(202,899)


			Net
	Foreign		Unrealized
	Currency		Gain (Loss)
(in thousands)	and Other⁽¹⁾		on Securities		Derivatives		Total

Balance at August 27, 2022	$	(280,190)	$	(2,171)	$	(18,175)	$	(300,536)
Other comprehensive income before reclassifications⁽²⁾		67,052		825		3,635		71,512
Amounts reclassified from Accumulated other comprehensive loss⁽²⁾		—		(25)		1,574		1,549
Balance at May 6, 2023	$	(213,138)	$	(1,371)	$	(12,966)	$	(227,475)

(1)	Foreign currency is shown net of U.S. tax to account for foreign currency impacts of certain undistributed non-U.S. subsidiaries’ earnings. Other foreign currency is not shown net of additional U.S. tax as other basis differences of non-U.S. subsidiaries are intended to be permanently reinvested.

(2)	Amounts shown are net of tax.

Marketable Debt Securities (Tables)

8 Months Ended

May 04, 2024

Marketable Debt Securities

Available-for-Sale Marketable Securities

The Company’s available-for-sale marketable debt securities consisted of the following:


	May 4, 2024
	Amortized		Gross		Gross
	Cost		Unrealized		Unrealized		Fair
(in thousands)	Basis		Gains		Losses		Value

Corporate debt securities	$	28,377	$	13	$	(270)	$	28,120
Government bonds		56,502		376		(1,048)		55,830
Mortgage-backed securities		2,771		—		(118)		2,653
Asset-backed securities and other		32,540		—		(83)		32,457
	$	120,190	$	389	$	(1,519)	$	119,060


	August 26, 2023
	Amortized		Gross		Gross
	Cost		Unrealized		Unrealized		Fair
(in thousands)	Basis		Gains		Losses		Value

Corporate debt securities	$	31,683	$	17	$	(504)	$	31,196
Government bonds		63,747		—		(1,440)		62,307
Mortgage-backed securities		3,215		—		(213)		3,002
Asset-backed securities and other		25,242		—		(234)		25,008
	$	123,887	$	17	$	(2,391)	$	121,513

- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-9

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aa)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aaa)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

+ Details

Supplier Financing Programs (Detail) - Supplier Financing - USD ($) $ in Millions	May 04, 2024	Aug. 26, 2023
Accounts payable
Loss Contingencies [Line Items]
Obligations outstanding under supplier financing arrangements	$ 4,800.0	$ 4,800.0
Other long-term liabilities
Loss Contingencies [Line Items]
Obligations outstanding under supplier financing arrangements	$ 226.0	$ 224.8

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Segment Reporting (Tables)

8 Months Ended

May 04, 2024

Segment Reporting

Segment Results


	Twelve Weeks Ended				Thirty-Six Weeks Ended
	May 4,		May 6,		May 4,		May 6,
(in thousands)	2024		2023		2024		2023

Net Sales
Auto Parts Stores	$	4,156,411	$	4,016,692	$	12,058,444	$	11,555,708
Other		79,074		73,849		226,444		210,883
Total	$	4,235,485	$	4,090,541	$	12,284,888	$	11,766,591

Segment Profit
Auto Parts Stores	$	2,218,950	$	2,102,768	$	6,424,651	$	5,945,080
Other		46,572		43,358		134,539		125,671
Gross profit		2,265,522		2,146,126		6,559,190		6,070,751
Operating, selling, general and administrative expenses		(1,365,341)		(1,287,645)		(4,067,163)		(3,819,261)
Interest expense, net		(104,422)		(74,313)		(298,426)		(197,645)
Income before income taxes	$	795,759	$	784,168	$	2,193,601	$	2,053,845

Stock Repurchase Program

8 Months Ended

May 04, 2024

Stock Repurchase Program

Stock Repurchase Program

Note I – Stock Repurchase Program

From January 1, 1998 to May 4, 2024, the Company has repurchased a total of 154.9 million shares of its common stock at an aggregate cost of $36.3 billion, including 905.4 thousand shares of its common stock at an aggregate cost of $2.5 billion during the thirty-six week period ended May 4, 2024.

On December 20, 2023, the Board voted to authorize the repurchase of an additional $2.0 billion of the Company’s common stock in connection with its ongoing share repurchase program, which raised the total value of shares authorized to be repurchased to $37.7 billion. Considering the cumulative repurchases as of May 4, 2024, the Company had $1.4 billion remaining under the Board’s authorization to repurchase its common stock.

During the thirty-six week period ended May 4, 2024, the Company retired 1.7 million shares of treasury stock which had been previously repurchased under the Company’s share repurchase program. The retirement increased Retained deficit by $4.1 billion and decreased Additional paid-in capital by $142.4 million. During the comparable prior year period, the Company retired 2.1 million shares of treasury stock, which increased Retained deficit by $4.2 billion and decreased Additional paid-in capital by $143.4 million.

Subsequent to May 4, 2024 and through May 31, 2024, the Company has repurchased 65.6 thousand shares of its common stock at an aggregate cost of $188.0 million.

Financing - Additional Information (Detail) - USD ($) $ in Thousands	Apr. 18, 2024	Nov. 15, 2022	Nov. 15, 2021	May 04, 2024	Oct. 25, 2023	Aug. 26, 2023	Nov. 14, 2021
Debt Instrument [Line Items]
Remaining borrowing capacity under revolving credit agreement				$ 2,200,000
Fair value of the Company's debt				8,800,000		$ 7,300,000
Excess (shortfall) of fair value of debt over (from) carrying value				(236,200)		(406,600)
Revolving Credit Agreement
Debt Instrument [Line Items]
Amount available under credit facility			$ 2,250,000				$ 2,000,000
Maximum amount available under credit facility			$ 3,250,000				$ 2,250,000
Extended expiration of credit facility		1 year
Additional amount of year(s) to extend termination date of agreement			1 year
Borrowings, outstanding				0		0
Letters of credit, outstanding				1,800		1,800
Swingline Loans
Debt Instrument [Line Items]
Maximum amount available under credit facility			$ 75,000
Individual Issuer, Letter of Credit
Debt Instrument [Line Items]
Maximum amount available under credit facility			50,000
Letter of Credit
Debt Instrument [Line Items]
Maximum amount available under credit facility			$ 250,000	25,000
Borrowings, outstanding				128,500		107,200
Letters of credit, outstanding				16,100		25,000
Master Extension Agreement
Debt Instrument [Line Items]
Credit facility expiration date		Nov. 15, 2027
Commercial paper
Debt Instrument [Line Items]
Commercial paper borrowings				$ 1,840,900		1,209,600
3.125% Senior Notes due April 2024, effective interest rate 3.32%
Debt Instrument [Line Items]
Senior notes						$ 300,000
Stated interest rate percentage	3.125%			3.125%		3.125%
Repayments of Debt	$ 300,000
3.250% Senior Notes due April 2025, effective interest rate 3.36%
Debt Instrument [Line Items]
Senior notes				$ 400,000		$ 400,000
Stated interest rate percentage				3.25%		3.25%
3.625% Senior Notes due April 2025, effective interest rate 3.78%
Debt Instrument [Line Items]
Senior notes				$ 500,000		$ 500,000
Stated interest rate percentage				3.625%		3.625%
6.250% Senior Notes due November 2028, effective interest rate 6.46%
Debt Instrument [Line Items]
Senior notes				$ 500,000	$ 500,000
Stated interest rate percentage				6.25%	6.25%
6.550% Senior Notes due November 2033, effective interest rate 6.71%
Debt Instrument [Line Items]
Senior notes				$ 500,000	$ 500,000
Stated interest rate percentage				6.55%	6.55%

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares shares in Thousands	May 04, 2024	Aug. 26, 2023
Preferred Stock
Preferred stock, shares authorized	1,000	1,000
Preferred stock, shares issued	0	0
Common Stock
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	200,000	200,000
Common stock, shares issued	17,425	18,936
Common stock, shares outstanding	17,144	17,857

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT (Unaudited) - USD ($) $ in Thousands	Common Stock	Additional Paid-in Capital	Retained Deficit	AOCI Attributable to Parent [Member]	Treasury Stock	Total
Balance at Aug. 27, 2022	$ 207	$ 1,354,252	$ (1,330,067)	$ (300,536)	$ (3,262,769)	$ (3,538,913)
Balance, shares at Aug. 27, 2022	20,732,000
Net income			1,663,585			1,663,585
Total other comprehensive income				73,061		73,061
Retirement of treasury shares	$ (20)	(143,440)	(4,157,637)		4,301,097
Retirement of treasury shares, shares	(2,051,000)
Purchase of treasury stock					(2,714,015)	$ (2,714,015)
Purchase of treasury stock, shares						(1,120,000)
Issuance of common stock under stock options and stock purchase plans	$ 2	154,861				$ 154,863
Issuance of common stock under stock options and stock purchase plans, shares	219,000
Share-based compensation expense		59,842				59,842
Balance at May. 06, 2023	$ 189	1,425,515	(3,824,119)	(227,475)	(1,675,687)	(4,301,577)
Balance, shares at May. 06, 2023	18,900,000
Balance at Feb. 11, 2023	$ 188	1,324,258	(4,471,842)	(269,312)	(767,462)	(4,184,170)
Balance, shares at Feb. 11, 2023	18,786,000
Net income			647,723			647,723
Total other comprehensive income				41,837		41,837
Purchase of treasury stock					(908,225)	$ (908,225)
Purchase of treasury stock, shares						(356,000)
Issuance of common stock under stock options and stock purchase plans	$ 1	82,104				$ 82,105
Issuance of common stock under stock options and stock purchase plans, shares	114,000
Share-based compensation expense		19,153				19,153
Balance at May. 06, 2023	$ 189	1,425,515	(3,824,119)	(227,475)	(1,675,687)	(4,301,577)
Balance, shares at May. 06, 2023	18,900,000
Balance at Aug. 26, 2023	$ 189	1,484,992	(2,959,278)	(190,836)	(2,684,961)	(4,349,894)
Balance, shares at Aug. 26, 2023	18,936,000
Net income			1,760,219			1,760,219
Total other comprehensive income				(12,063)		(12,063)
Retirement of treasury shares	$ (17)	(142,391)	(4,128,131)		4,270,539
Retirement of treasury shares, shares	(1,703,000)
Purchase of treasury stock					(2,459,760)	$ (2,459,760)
Purchase of treasury stock, shares						(905,400)
Issuance of common stock under stock options and stock purchase plans	$ 2	154,365				$ 154,367
Issuance of common stock under stock options and stock purchase plans, shares	192,000
Share-based compensation expense		68,894				68,894
Balance at May. 04, 2024	$ 174	1,565,860	(5,327,190)	(202,899)	(874,182)	(4,838,237)
Balance, shares at May. 04, 2024	17,425,000
Balance at Feb. 10, 2024	$ 174	1,485,789	(5,978,916)	(204,899)	(139,469)	(4,837,321)
Balance, shares at Feb. 10, 2024	17,351,000
Net income			651,726			651,726
Total other comprehensive income				2,000		2,000
Purchase of treasury stock					(734,713)	$ (734,713)
Purchase of treasury stock, shares						(242,000)
Issuance of common stock under stock options and stock purchase plans		56,028				$ 56,028
Issuance of common stock under stock options and stock purchase plans, shares	74,000
Share-based compensation expense		24,043				24,043
Balance at May. 04, 2024	$ 174	$ 1,565,860	$ (5,327,190)	$ (202,899)	$ (874,182)	$ (4,838,237)
Balance, shares at May. 04, 2024	17,425,000

Financing

8 Months Ended

May 04, 2024

Financing

Financing

Note H – Financing

The Company’s debt consisted of the following:


	May 4,		August 26,
(in thousands)	2024		2023

3.125% Senior Notes due April 2024, effective interest rate 3.32%	$	—	$	300,000
3.250% Senior Notes due April 2025, effective interest rate 3.36%		400,000		400,000
3.625% Senior Notes due April 2025, effective interest rate 3.78%		500,000		500,000
3.125% Senior Notes due April 2026, effective interest rate 3.28%		400,000		400,000
5.050% Senior Notes due July 2026, effective interest rate 5.09%		450,000		450,000
3.750% Senior Notes due June 2027, effective interest rate 3.83%		600,000		600,000
4.500% Senior Notes due February 2028, effective interest rate 4.43%		450,000		450,000
6.250% Senior Notes due November 2028, effective interest rate 6.46%		500,000		—
3.750% Senior Notes due April 2029, effective interest rate 3.86%		450,000		450,000
4.000% Senior Notes due April 2030, effective interest rate 4.09%		750,000		750,000
1.650% Senior Notes due January 2031, effective interest rate 2.19%		600,000		600,000
4.750% Senior Notes due August 2032, effective interest rate 4.76%		750,000		750,000
4.750% Senior Notes due February 2033, effective interest rate 4.70%		550,000		550,000
5.200% Senior Notes due August 2033, effective interest rate 5.22%		300,000		300,000
6.550% Senior Notes due November 2033, effective interest rate 6.71%		500,000		—
Commercial paper, weighted average interest rate 5.45% at May 4, 2024 and 5.43% at August 26, 2023		1,840,900		1,209,600
Total debt before discounts and debt issuance costs		9,040,900		7,709,600
Less: Current portion of debt		500,000		—
Less: Discounts and debt issuance costs		44,612		41,051
Long-term debt	$	8,496,288	$	7,668,549

On November 15, 2021, the Company amended and restated its existing revolving credit facility (as amended from time to time, the “Revolving Credit Agreement”) pursuant to which the Company’s borrowing capacity was increased from $2.0 billion to $2.25 billion, and the maximum borrowing under the Revolving Credit Agreement may, at the Company’s option, subject to lenders’ approval, be increased from $2.25 billion to $3.25 billion. On November 15, 2022, the Company amended the Revolving Credit Agreement, extending the termination date by one year. As amended, the Revolving Credit Agreement will terminate, and all amounts borrowed will be due and payable on November 15, 2027, but AutoZone may make one additional request to extend the termination date for an additional period of one year. Revolving borrowings under the Revolving Credit Agreement may be base rate loans, Term Secured Overnight Financing Rate (“SOFR”) loans, or a combination of both, at AutoZone’s election. The Revolving Credit Agreement includes (i) a $75 million sublimit for swingline loans, (ii) a $50 million individual issuer letter of credit sublimit and (iii) a $250 million aggregate sublimit for all letters of credit.

Under the Company’s Revolving Credit Agreement, covenants include restrictions on liens, a maximum debt to earnings ratio, a minimum fixed charge coverage ratio and a change of control provision that may require acceleration of the repayment obligations under certain circumstances.

As of May 4, 2024 and August 26, 2023, the Company had no outstanding borrowings and $1.8 million of outstanding letters of credit under the Revolving Credit Agreement.

The Company also maintains a letter of credit facility that allows it to request the participating bank to issue letters of credit on its behalf up to an aggregate amount of $25 million. The letter of credit facility is in addition to the letters of credit that may be issued under the Revolving Credit Agreement. As of May 4, 2024 and August 26, 2023, the Company had $16.1 million and $25.0 million, respectively, in letters of credit outstanding under the letter of credit facility, which expires in June 2025.

In addition to the outstanding letters of credit issued under the committed facilities discussed above, the Company had $128.5 million and $107.2 million in letters of credit outstanding as of May 4, 2024 and August 26, 2023, respectively. These letters of credit have various maturity dates and were issued on an uncommitted basis.

As of May 4, 2024, the $1.8 billion commercial paper borrowings and the $400 million 3.250% Senior Notes due April 2025 were included in Long-term debt in the accompanying Condensed Consolidated Balance Sheets as the Company currently has the ability and intent to refinance them on a long-term basis through available capacity under its Revolving Credit Agreement. As of May 4, 2024, the Company had $2.2 billion of availability under its Revolving Credit Agreement, without giving effect to commercial paper borrowings, which would allow it to replace these short-term obligations with a long-term financing facility.

On April 18, 2024, the Company repaid the $300 million 3.125% Senior Notes due April 2024.

On October 25, 2023, the Company issued $500 million in 6.250% Senior Notes due November 2028 and $500 million in 6.550% Senior Notes due November 2033. Proceeds from the debt issuances were used for general corporate purposes.

The Senior Notes contain a provision that repayment may be accelerated if the Company experiences both a change of control and a rating event (both as defined in the agreements). The Company’s borrowings under its Senior Notes contain minimal covenants, primarily restrictions on liens. All of the repayment obligations under its borrowing arrangements may be accelerated and come due prior to the scheduled payment date if covenants are breached or an event of default occurs. Interest for the Senior Notes is paid on a semi-annual basis.

The fair value of the Company’s debt was estimated at $8.8 billion as of May 4, 2024, and $7.3 billion as of August 26, 2023, based on the quoted market prices for the same or similar issues or on the current rates available to the Company for debt of the same terms (Level 2). Such fair value is less than the carrying value of debt by $236.2 million and $406.6 million at May 4, 2024 and August 26, 2023, respectively, which reflects their face amount, adjusted for any unamortized debt issuance costs and discounts.

As of May 4, 2024, the Company was in compliance with all covenants and expects to remain in compliance with all covenants under its borrowing arrangements.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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+ Details

Accumulated Other Comprehensive Loss - Changes in Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands	3 Months Ended		8 Months Ended
	May 04, 2024	May 06, 2023	May 04, 2024	May 06, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	$ (4,837,321)	$ (4,184,170)	$ (4,349,894)	$ (3,538,913)
Balance	(4,838,237)	(4,301,577)	(4,838,237)	(4,301,577)
Foreign Currency and Other
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(192,439)	(254,795)	(176,557)	(280,190)
Other comprehensive income (loss) before reclassifications	1,630	41,657	(14,252)	67,052
Balance	(190,809)	(213,138)	(190,809)	(213,138)
Net Unrealized Gain (Loss) on Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(839)	(2,294)	(1,851)	(2,171)
Other comprehensive income (loss) before reclassifications	(34)	948	978	825
Amounts reclassified from Accumulated other comprehensive loss		(25)		(25)
Balance	(873)	(1,371)	(873)	(1,371)
Derivatives
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(11,621)	(12,223)	(12,428)	(18,175)
Other comprehensive income (loss) before reclassifications		(1,146)		3,635
Amounts reclassified from Accumulated other comprehensive loss	404	403	1,211	1,574
Balance	(11,217)	(12,966)	(11,217)	(12,966)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(204,899)	(269,312)	(190,836)	(300,536)
Other comprehensive income (loss) before reclassifications	1,596	41,459	(13,274)	71,512
Amounts reclassified from Accumulated other comprehensive loss	404	378	1,211	1,549
Balance	$ (202,899)	$ (227,475)	$ (202,899)	$ (227,475)

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount after tax, before reclassification adjustments of other comprehensive income (loss).

+ References + Details

- Definition

Amount after tax of reclassification adjustments of other comprehensive income (loss).

+ References + Details

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

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