Company: ORLY
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000898173-25-000029
Chunk: 17

Company: O REILLY AUTOMOTIVE INC
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 8
Chunk 17
---
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

March 31, 2025

​

NOTE 1 – BASIS OF PRESENTATION​The accompanying unaudited condensed consolidated financial statements of O’Reilly Automotive, Inc. and its subsidiaries (the “Company” or “O’Reilly”) have been prepared in accordance with United States generally accepted accounting principles (“U.S. GAAP”) for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X.  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 (consisting of normal recurring accruals) considered necessary for a fair presentation have been included.  Operating results for the three months ended March 31, 2025, are not necessarily indicative of the results that may be expected for the year ended December 31, 2025.  For further information, refer to the consolidated financial statements and footnotes thereto included in the Company’s annual report on Form 10-K for the year ended December 31, 2024.​Principles of Consolidation:The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries.  All inter-company balances and transactions have been eliminated in consolidation.     

​

NOTE 2 – SEGMENT REPORTING​The Company conducts its operations in the U.S., Canada, and Mexico, collectively this represents its single operating segment, referred to as its automotive aftermarket parts segment, which is its only reportable segment.  There have been no changes in the determination of segmentation or the measurements used to determine reported segment net income during the three months ended March 31, 2025.  The measure of segment assets is reported as “Total assets” on the accompanying Condensed Consolidated Balance Sheets as of March 31, 2025, and December 31, 2024.  At March 31, 2025, and December 31, 2024, the Company’s consolidated long-lived assets were located primarily in the United States and consolidated revenue was primarily generated within the United States for the three months ending March 31, 2025 and 2024, with immaterial assets and revenues associated with international operations.   ​The table below identifies the Company’s significant segment expenses regularly provided to