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1138118_15_item7_p56_s10
1138118_14_item7_p75_s17
This increase was primarily attributable to higher amortization expense relative to intangibles acquired in the REIM Acquisitions.
This increase was primarily attributable to higher amortization expense relative to intangibles acquired in the Norland Acquisition and in-fill acquisitions completed in 2014.
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1138118_15_item7_p55_s2
1138118_14_item7_p75_s5
This increase was primarily due to higher salaries and related costs associated with our global property and facilities management contracts.
This increase was primarily due to higher costs associated with our global property and facilities management businesses, particularly due to the Norland Acquisition.
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1138118_15_item7_p55_s4
1138118_14_item7_p75_s7
Accordingly, the increase in sales transaction revenue led to a corresponding increase in commission expense.
Accordingly, the increase in sales and lease transaction revenue led to a corresponding increase in commission accruals.
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1138118_15_item7_p60_s2
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Accordingly, the increase in sales transaction revenue led to a corresponding increase in commission expense.
Accordingly, the increase in sales and lease transaction revenue led to a corresponding increase in commission accruals.
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1138118_15_item7_p67_s2
1138118_14_item7_p85_s1
Higher salaries and related costs associated with our property, facilities and project management contracts also contributed to the increase.
Higher salaries and related costs associated with our property, facilities and project management contracts also contributed to an increase in cost of services during the year ended December 31, 2014.
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1138118_15_item7_p68_s1
1138118_14_item7_p93_s7
Operating, administrative and other expenses increased by $12.0 million, or 5.7%, for the year ended December 31, 2012 as compared to the year ended December 31, 2011.
Operating, administrative and other expenses increased by $157.0 million, or 36.9%, for the year ended December 31, 2014 as compared to the year ended December 31, 2013.
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1138118_15_item7_p83_s8
1138118_14_item7_p97_s0
Absent extraordinary transactions such as these and the equity offerings we completed during the unprecedented global capital markets disruption in 2008 and 2009 as well as the debt offerings we completed in 2009, 2010 and March 2013, we historically have not sought external sources of financing and have relied on our ...
We historically have not sought external sources of financing and have relied on our internally generated cash flow and our revolving credit facility to fund our working capital, capital expenditure and investment requirements.
2
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1138118_16_item7_p16_s1
1138118_15_item7_p45_s0
in value of our open-end funds, primarily in Europe.
This non-cash write-off was related to a decrease in value of our open-end funds, primarily in Europe.
2
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1138118_16_item7_p16_s2
1138118_15_item7_p45_s2
See Note 4 of the Notes to Consolidated Financial Statements set forth in Item 8 of this Annual Report.
For additional information on goodwill and intangible asset impairment testing, see Notes 2, 5 and 8 of the Notes to Consolidated Financial Statements set forth in Item 8 of this Annual Report.
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1138118_16_item7_p25_s12
1138118_15_item7_p45_s2
See Note 4 of the Notes to Consolidated Financial Statements set forth in Item 8 of this Annual Report.
New Accounting Pronouncements See New Accounting Pronouncements section within Note 2 of the Notes to Consolidated Financial Statements set forth in Item 8 of this Annual Report.
2
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1138118_16_item7_p18_s0
1138118_15_item7_p47_s0
Deferred tax assets and liabilities are determined based on temporary differences between the financial reporting and tax basis of assets and liabilities and operating loss and tax credit carry forwards.
differences between the financial reporting and tax basis of assets and liabilities and operating loss and tax credit carry forwards.
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1138118_16_item7_p25_s10
1138118_15_item7_p50_s7
Additional tax benefits associated with the release of valuation allowances of $14.5 million and $4.9 million were recorded in 2013 and 2014, respectively.
Tax benefits associated with the release of valuation allowances on foreign tax credits of $14.5 million and $4.9 million were recorded in 2013 and 2014, respectively.
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1138118_16_item7_p33_s0
1138118_15_item7_p5_s7
The companies we acquired have generally been quality regional or specialty firms that complement our existing platform within a region, or affiliates in which, in some cases, we held a small equity interest.
specialty firms that complement our existing platform within a region, or independent affiliates in which, in some cases, we held a small equity interest.
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1138118_17_item7_p101_s4
1138118_16_item7_p16_s2
For additional information on goodwill and intangible asset impairment testing, see Notes 2, 5 and 8 of the Notes to Consolidated Financial Statements set forth in Item 8 of this Annual Report.
For additional information on all of our long-term debt, see Note 10 of the Notes to Consolidated Financial Statements set forth in Item 8 of this Annual Report.
2
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1138118_17_item7_p46_s3
1138118_16_item7_p25_s11
See Note 13 of the Notes to Consolidated Financial Statements set forth in Item 8 of this Annual Report for further information regarding income taxes.
See Note 10 of the Notes to Consolidated Financial Statements set forth in Item 8 of this Annual Report for more information on such credit agreements.
2
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1138118_17_item7_p3_s4
1138118_16_item7_p25_s12
New Accounting Pronouncements See New Accounting Pronouncements section within Note 2 of the Notes to Consolidated Financial Statements set forth in Item 8 of this Annual Report.
For a detailed discussion of our revenue recognition policies, see the Revenue Recognition section within Note 2 of the Notes to Consolidated Financial Statements set forth in Item 8 of this Annual Report on Form 10-K, or this Annual Report.
2
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1138118_17_item7_p28_s0
1138118_16_item7_p31_s0
The performance of our global sales, leasing, investment management and development services operations depends on sustained economic growth and strong job creation; stable, healthy global credit markets; and continued positive business and investor sentiment.
The performance of our global real estate services and real estate investment businesses depends on sustained economic growth and job creation; stable, healthy global credit markets; and continued positive business and investor sentiment.
2
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1138118_17_item7_p29_s1
1138118_16_item7_p32_s1
The acquired GWS business is a market-leading provider of integrated facilities management solutions for major occupiers of commercial real estate and has significant operations around the world.
The acquired JCI-GWS business was a market-leading provider of integrated facilities management solutions for major occupiers of commercial real estate and had significant operations around the world.
2
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1138118_17_item7_p29_s6
1138118_16_item7_p33_s0
specialty firms that complement our existing platform within a region, or independent affiliates in which, in some cases, we held a small equity interest.
The companies we acquired have generally been regional or specialty firms that complement our existing platform, or independent affiliates in which, in some cases, we held a small equity interest.
2
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1138118_17_item7_p29_s13
1138118_16_item7_p34_s1
The adverse impact is a result of transaction-related expenditures, which include severance, lease termination, transaction and deferred financing costs, among others, and the charges and costs of integrating the acquired business and its financial and accounting systems into our own.
These include severance, lease termination, transaction and deferred financing costs, among others, and the charges and costs of integrating the acquired business and its financial and accounting systems into our own.
2
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1138118_18_item7_p0_s5
1138118_17_item7_p0_s2
As of December 31, 2016, we operated in approximately 450 offices worldwide with more than 75,000 employees, excluding independent affiliates, providing commercial real estate services under the CBRE brand name, investment management services under the CBRE Global Investors brand name and development services under the...
We provide commercial real estate services under the CBRE brand name, investment management services under the CBRE Global Investors brand name and development services under the Trammell Crow Company brand name.
2
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1138118_18_item7_p14_s0
1138118_17_item7_p16_s0
differences between the financial reporting and tax basis of assets and liabilities and operating loss and tax credit carry forwards.
Deferred tax assets and liabilities are determined based on temporary differences between the financial reporting and tax basis of assets and liabilities and operating loss and tax credit carry forwards.
2
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1138118_18_item7_p33_s0
1138118_17_item7_p29_s16
We are monitoring the economic and political developments related to Brexit and the potential impact on our businesses in the United Kingdom and the rest of Europe, including, in particular, sales and leasing activity in the United Kingdom, as well as any associated currency volatility impact on our results of operatio...
We are monitoring the economic and political developments related to the United Kingdom s referendum to leave the European Union and the potential impact on our businesses in the United Kingdom and the rest of Europe, including, in particular, sales and leasing activity in the United Kingdom, as well as any associated ...
2
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1138118_18_item7_p36_s3
1138118_17_item7_p32_s2
For example, we estimate that had the British pound sterling-to-U.S. dollar exchange rates been 10% higher during the year ended December 31, 2016, the net impact would have been an increase in pre-tax income of $4.9 million.
Had the euro-to-U.S. dollar exchange rates been 10% higher during the year ended December 31, 2017, the net impact would have been an increase in pre-tax income of $12.0 million.
2
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1138118_18_item7_p48_s0
1138118_17_item7_p40_s1
Cost-elimination expenses incurred during the year ended December 31, 2016 consisted of $73.6 million of severance costs related to headcount reductions in connection with the program and $4.9 million of third-party contract termination costs.
respectively, of severance costs related to headcount reductions in connection with the program and $4.9 million and $7.8 million, respectively, of third-party contract termination costs.
2
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1138118_18_item7_p54_s5
1138118_17_item7_p42_s0
decreased from 24.3% for the year ended December 31, 2015 to 21.3% for the year ended December 31, 2016, primarily due to the GWS Acquisition.
Operating expenses as a percentage of revenue decreased from 24.3% for the year ended December 31, 2015 to 21.3% for the year ended December 31, 2016, primarily due to the GWS Acquisition.
2
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1138118_18_item7_p50_s18
1138118_17_item7_p42_s4
A rise in depreciation expense during the year ended December 31, 2016 driven by technology-related capital expenditures also contributed to the increase.
A rise in depreciation expense of $14.5 million during the year ended December 31, 2017 driven by technology-related capital expenditures also contributed to the increase.
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1138118_18_item7_p50_s17
1138118_17_item7_p45_s17
This increase was primarily attributable to higher amortization expense relative to intangibles acquired in the GWS Acquisition as well as increased amortization expense associated with mortgage servicing rights.
This increase was primarily attributable to higher amortization expense associated with mortgage servicing rights.
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1138118_18_item7_p50_s18
1138118_17_item7_p45_s18
A rise in depreciation expense during the year ended December 31, 2015 driven by technology-related capital expenditures also contributed to the increase.
A rise in depreciation expense of $14.5 million during the year ended December 31, 2017 driven by technology-related capital expenditures also contributed to the increase.
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1138118_18_item7_p54_s9
1138118_17_item7_p45_s18
A rise in depreciation expense during the year ended December 31, 2015 driven by technology-related capital expenditures also contributed to the increase.
A rise in depreciation expense of $14.1 million during the year ended December 31, 2016 driven by technology-related capital expenditures also contributed to the increase.
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1138118_18_item7_p75_s13
1138118_17_item7_p58_s0
Asia Pacific Revenue increased by $350.9 million, or 30.9%, for the year ended December 31, 2016 as compared to the year ended December 31, 2015.
EMEA Revenue increased by $900.3 million, or 30.2%, for the year ended December 31, 2016 as compared to the year ended December 31, 2015.
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1138118_18_item7_p66_s1
1138118_17_item7_p58_s2
The revenue increase also reflects strong organic growth, fueled by higher occupier outsourcing revenue (excluding the impact of the GWS Acquisition, up 33.4%) as well as improved sales and leasing activity.
The revenue increase reflects strong organic growth, fueled by higher occupier outsourcing and property management revenue as well as improved sales and leasing activity.
2
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1138118_18_item7_p66_s3
1138118_17_item7_p58_s4
Cost of services increased by $300.8 million, or 39.5%, for the year ended December 31, 2016 as compared to the same period in 2015, driven by higher costs associated with our occupier outsourcing businesses, including the acquired GWS business.
Cost of services increased by $163.2 million, or 15.2%, for the year ended December 31, 2017 as compared to the same period in 2016, driven by higher costs associated with our occupier outsourcing business.
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[ "163.2", "15.2" ]
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1138118_18_item7_p68_s0
1138118_17_item7_p61_s0
A roll forward of our AUM by product type for the year ended December 31, 2016 is as follows (dollars in billions): AUM generally refers to the properties and other assets with respect to which we provide (or participate in) oversight, investment management services and other advice, and which generally consist of real...
AUM generally refers to the properties and other assets with respect to which we provide (or participate in) oversight, investment management services and other advice, and which generally consist of real estate properties or loans, securities portfolios and investments in operating companies and joint ventures.
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1138118_18_item7_p66_s4
1138118_17_item7_p68_s2
This increase was also due to higher commission expense resulting from improved sales and lease transaction revenue.
Also contributing to the variance was higher commission expense resulting from improved sales and lease transaction revenue.
2
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1138118_18_item7_p80_s0
1138118_17_item7_p73_s0
A rollforward of our AUM by product type for the year ended December 31, 2015 is as follows (dollars in billions): We describe above how we calculate AUM.
A roll forward of our AUM by product type for the year ended December 31, 2016 is as follows (dollars in billions):
2
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1138118_18_item7_p81_s2
1138118_17_item7_p74_s2
This increase was primarily driven by higher bonuses during the year ended December 31, 2015 as a result of significantly improved operating performance due to property sales.
This increase was primarily driven by higher bonuses during the year ended December 31, 2016 as a result of significantly improved operating performance due to property sales (reflected in equity income from unconsolidated subsidiaries and gain on disposition of real estate).
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1138118_18_item7_p83_s1
1138118_17_item7_p77_s0
2017 include up to approximately $170 million of anticipated capital expenditures, net of tenant concessions.
Our expected capital requirements for 2018 include up to approximately $180 million of anticipated capital expenditures, net of tenant concessions.
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1138118_18_item7_p87_s9
1138118_17_item7_p81_s8
These items were partially offset by higher commissions paid during the year ended December 31, 2015.
These items were partially offset by higher net receivables recorded during the year ended December 31, 2017.
2
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[]
[ "net", "receivables", "recorded" ]
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1138118_18_item7_p90_s0
1138118_17_item7_p84_s0
(1) Reflects gross outstanding long-term debt balances expected to be paid at maturity, excluding unamortized discount, premium and deferred financing costs.
Reflects gross outstanding long-term debt balances as of December 31, 2017, assumed to be paid at maturity, excluding unamortized discount, premium and deferred financing costs.
2
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[ "December", "31", "assumed" ]
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1138118_18_item7_p90_s1
1138118_17_item7_p87_s0
(4) See Note 12 of our Notes to the Consolidated Financial Statements set forth in Item 8 of this Annual Report.
See Note 11 of our Notes to the Consolidated Financial Statements set forth in Item 8 of this Annual Report.
2
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[]
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1138118_18_item7_p99_s1
1138118_17_item7_p89_s0
(7) Due to the nature of guarantees, payments could be due at any time upon the occurrence of certain triggering events, including default.
Due to the nature of this item, payments could be due at any time upon the occurrence of certain events.
2
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[ "item" ]
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1138118_18_item7_p98_s1
1138118_17_item7_p91_s1
Of this amount, we can reasonably estimate that $34.9 million will require cash settlement in less than one year and $3.9 million will require cash settlement in one to three years.
Of this amount, we can reasonably estimate that $0.8 million will require cash settlement in less than one year.
2
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[]
[ "0.8" ]
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1138118_18_item7_p99_s0
1138118_17_item7_p92_s0
(10) Represents outstanding reserves for claims under certain insurance programs, which are included in other current and other long-term liabilities in the consolidated balance sheets at December 31, 2016 set forth in Item 8 of this Annual Report.
Represents outstanding reserves for claims under certain insurance programs, which are included in other current and other long-term liabilities in the consolidated balance sheets at December 31, 2017 set forth in Item 8 of this Annual Report.
2
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1138118_18_item7_p96_s0
1138118_17_item7_p92_s1
Due to the nature of this item, payments could be due at any time upon the occurrence of certain events.
Due to the nature of guarantees, payments could be due at any time upon the occurrence of certain triggering events, including default.
2
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[]
[ "guarantees", "triggering", "including", "default" ]
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1138118_18_item7_p105_s2
1138118_17_item7_p99_s0
severally guaranteed on a senior basis by us and each domestic subsidiary of CBRE Services that guarantees our 2015 Credit Agreement.
The 4.875% senior notes are jointly and severally guaranteed on a senior basis by us and each domestic subsidiary of CBRE Services that guarantees our 2017 Credit Agreement.
2
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[]
[ "4.875", "notes", "jointly" ]
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1138118_18_item7_p105_s7
1138118_17_item7_p99_s0
severally guaranteed on a senior basis by us and each domestic subsidiary of CBRE Services that guarantees our 2015 Credit Agreement.
The 5.25% senior notes are jointly and severally guaranteed on a senior basis by us and each domestic subsidiary of CBRE Services that guarantees our 2017 Credit Agreement.
2
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[]
[ "5.25", "notes", "jointly" ]
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1138118_18_item7_p106_s2
1138118_17_item7_p99_s0
severally guaranteed on a senior basis by us and each domestic subsidiary of CBRE Services that guarantees our 2015 Credit Agreement.
The 5.00% senior notes are jointly and severally guaranteed on a senior basis by us and each domestic subsidiary of CBRE Services that guarantees our 2017 Credit Agreement.
2
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[]
[ "5.00", "notes", "jointly" ]
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1158449_12_item7_p87_s0
1158449_11_item7_p103_s0
Note: For additional information refer to Note 6, Long-term Debt ; Note 14, Income Taxes ; Note 15, Lease Commitments ; Note 16, Store Closures and Impairment ; Note 17, Contingencies ; and Note 18, Benefit Plans , in the Notes to Consolidated Financial Statements, included in Item 15, Exhibits, Financial Statement Sch...
Note: For additional information refer to Note 6, Long-term Debt ; Note 14, Income Taxes ; Note 15, Lease Commitments ; Note 16, Store Closures and Impairment ; Note 17, Contingencies ; and Note 18, Benefit Plans , in the Notes to Consolidated Financial Statements, included in Item 15, Exhibits, Financial Statement Sch...
2
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1158449_12_item7_p94_s0
1158449_11_item7_p109_s2
Both cooperative advertising allowances and volume rebates are earned based on inventory purchases and initially recorded as a reduction to inventory.
Volume rebates and cooperative advertising allowances not offsetting in SG A are earned based on inventory purchases and initially recorded as a reduction to inventory.
2
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[]
[ "Volume", "offsetting", "SG" ]
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1158449_12_item7_p117_s5
1158449_11_item7_p123_s0
A 10% change in the warranty reserves at January 1, 2011 would have affected net income by approximately $2.3 million for the fiscal year ended January 1, 2011.
A 10% change in the tax reserves at December 31, 2011 would have affected net income by approximately $2.5 million for the fiscal year ended December 31, 2011 .
2
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1158449_12_item7_p117_s0
1158449_11_item7_p133_s0
These tax reserves contain uncertainties because management is required to make assumptions and apply judgment to estimate exposures associated with our various filing positions.
Management is required to make assumptions and apply judgment to estimate exposures associated with our various filing positions.
2
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1158449_12_item7_p16_s2
1158449_11_item7_p15_s3
Through these two strategies, we believe we can continue to buil d on the initiatives discussed below and produce favorable financial results.
Through these two key strategies, we believe we can continue to build on the initiatives discussed below and produce favorable financial results over the long-term.
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[ "key", "build", "long", "term" ]
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1158449_12_item7_p23_s1
1158449_11_item7_p22_s0
We believe that our focus on differentiating through our strategies of Service Leadership and Superior Availability will allow us to continue to increase our share of the total automotive aftermarket with a higher growth potential driven by the more fragmented Commercial market.
We believe that the execution of the various initiatives under our key strategies will allow us to continue to increase our share of the total automotive aftermarket with a higher growth potential driven by the more fragmented Commercial market.
2
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1158449_12_item7_p25_s0
1158449_11_item7_p24_s0
We lease approximately 80% of our stores.
We lease approximately 80% of our AAP stores.
2
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[ "We", "lease", "approximately", "80", "%", "of", "our", "stores", "." ]
[ "We", "lease", "approximately", "80", "%", "of", "our", "AAP", "stores", "." ]
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1158449_12_item7_p28_s3
1158449_11_item7_p29_s0
competitors due to differences in industry practice regarding the classification of certain costs.
Our gross profit may not be comparable to those of our competitors due to differences in industry practice regarding the classification of certain costs.
2
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[ "gross", "profit", "may", "comparable" ]
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1158449_12_item7_p43_s3
1158449_11_item7_p35_s0
sourcing are beginning to drive improvements in our gross profit on accessories.
Favorable product costs from global sourcing are beginning to drive improvements in our gross profit on accessories.
2
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1158449_12_item7_p5_s0
1158449_11_item7_p6_s0
At January 1, 2011, we operated 194 stores in the AI segment under the Autopart International trade name.
At December 31, 2011 , we operated 202 stores in the AI segment under the Autopart International trade name.
2
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[]
[ "December", "31" ]
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1158449_12_item7_p65_s0
1158449_11_item7_p73_s0
Partially offsetting the decrease in cash flows was an increase in net income of $75.7 million.
Partially offsetting the decrease in cash flows for Fiscal 2010 was an increase in net income of $75.7 million.
2
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[]
[ "Fiscal", "2010" ]
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1158449_12_item7_p63_s1
1158449_11_item7_p74_s1
This net increase in operating cash was driven primarily by:
This net decrease in operating cash flow was driven primarily by:
2
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[ "decrease", "flow" ]
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1158449_12_item7_p79_s1
1158449_11_item7_p86_s1
We may redeem some or all of the Notes at any time or from time to time, at the redemption price described in the Indenture.
We may redeem some or all of the 2020 Notes at any time or from time to time, at the redemption price described in the Indenture.
2
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[]
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1158449_12_item7_p76_s0
1158449_11_item7_p91_s0
A commitment fee is charged on the unused portion of the revolving credit facility, payable in arrears.
A facility fee is charged on the total amount of the revolving credit facility, payable in arrears.
2
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1158449_13_item7_p110_s2
1158449_12_item7_p101_s1
An increase to our inventory reserves is recorded as an increase to our cost of sales.
Conversely, a decrease to our inventory reserves is recorded as a decrease to our cost of sales.
2
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1158449_13_item7_p110_s1
1158449_12_item7_p101_s2
Conversely, a decrease to our inventory reserves is recorded as a decrease to our cost of sales.
An increase to our inventory reserves is recorded as an increase to our cost of sales.
2
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1158449_13_item7_p129_s5
1158449_12_item7_p108_s0
A 10% change in the warranty reserves at December 31, 2011 would have affected net income by approximately $2.4 million for the fiscal year ended December 31, 2011 .
A 10% change in the tax reserves at December 29, 2012 would have affected net income by approximately $1.7 million for the fiscal year ended December 29, 2012 .
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1158449_13_item7_p119_s0
1158449_12_item7_p117_s5
A 10% change in the tax reserves at December 31, 2011 would have affected net income by approximately $2.5 million for the fiscal year ended December 31, 2011 .
A 10% change in the warranty reserves at December 29, 2012 would have affected net income by approximately $2.4 million for the fiscal year ended December 29, 2012 .
2
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[]
[ "warranty", "2.4" ]
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1158449_13_item7_p5_s0
1158449_12_item7_p4_s1
The AAP segment is comprised of our store operations within the Northeastern, Southeastern and Midwestern regions of the United States, Puerto Rico and the Virgin Islands which operate under the trade names Advance Auto Parts, Advance Discount Auto Parts and Western Auto.
The AAP segment is comprised of our store operations within the Northeastern, Mid-Atlantic, Southeastern and Midwestern (inclusive of South Central) regions of the United States, Puerto Rico and the Virgin Islands.
2
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1158449_13_item7_p68_s1
1158449_12_item7_p61_s1
This net increase in operating cash flow was primarily due to:
This net decrease in operating cash flow was primarily due to:
2
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[ "decrease" ]
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1158449_13_item7_p88_s0
1158449_12_item7_p79_s1
We may redeem some or all of the 2020 Notes at any time or from time to time, at the redemption price described in the Indenture.
We may redeem some or all of the Notes at any time or from time to time, at the redemption price described in the Indenture.
2
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[]
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1158449_13_item7_p88_s2
1158449_12_item7_p79_s3
The 2020 Notes are currently fully and unconditionally guaranteed, jointly and severally, on an unsubordinated and unsecured basis by certain of our domestic subsidiaries.
The Notes are currently fully and unconditionally guaranteed, jointly and severally, on an unsubordinated and unsecured basis by each of the subsidiary guarantors.
2
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[]
[ "subsidiary", "guarantors" ]
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1158449_14_item7_p116_s2
1158449_13_item7_p110_s1
An increase to our inventory reserves is recorded as an increase to our cost of sales.
Conversely, a decrease to our inventory reserves is recorded as a decrease to our cost of sales.
2
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1158449_14_item7_p116_s1
1158449_13_item7_p110_s2
Conversely, a decrease to our inventory reserves is recorded as a decrease to our cost of sales.
An increase to our inventory reserves is recorded as an increase to our cost of sales.
2
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[]
[ "increase", "increase" ]
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1158449_14_item7_p136_s5
1158449_13_item7_p119_s0
A 10% change in the warranty reserves at December 29, 2012 would have affected net income by approximately $2.4 million for the fiscal year ended December 29, 2012 .
A 10% change in the tax reserves at December 28, 2013 would have affected net income by approximately $1.8 million for the fiscal year ended December 28, 2013 .
2
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[]
[ "tax", "1.8" ]
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1158449_14_item7_p124_s0
1158449_13_item7_p129_s5
A 10% change in the tax reserves at December 29, 2012 would have affected net income by approximately $1.7 million for the fiscal year ended December 29, 2012 .
A 10% change in the warranty reserves at December 28, 2013 would have affected net income by approximately $2.5 million for the fiscal year ended December 28, 2013 .
2
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[]
[ "warranty", "2.5" ]
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1158449_14_item7_p19_s0
1158449_13_item7_p24_s1
BWP operates or supplies 216 locations in the Northeastern United States.
operated or supplied 216 locations in the Northeastern United States.
2
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[ "operated", "or", "supplied", "216", "locations", "in", "the", "Northeastern", "United", "States", "." ]
[]
[ "operated", "supplied" ]
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1158449_14_item7_p2_s4
1158449_13_item7_p3_s4
At December 29, 2012 , we operated 3,794 stores throughout 39 states, Puerto Rico and the Virgin Islands.
As of December 28, 2013 , we operated 4,049 stores throughout 39 states, Puerto Rico and the Virgin Islands.
2
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[]
[ "4,049" ]
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1158449_14_item7_p55_s2
1158449_13_item7_p43_s2
The decrease in AI's operating income was primarily due to increased promotional activity and increased percentage of newer stores outside of the Northeastern market which operate at a lower gross profit rate, partially offset by lower incentive compensation.
AI s operating income decreased during Fiscal 2012 primarily due to increased promotional activity and increased percentage of newer stores outside of the Northeastern market which operate at a lower gross profit rate, partially offset by lower incentive compensation.
2
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[ "decreased", "Fiscal", "2012" ]
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1158449_14_item7_p59_s3
1158449_13_item7_p56_s3
We believe funds generated from our expected results of operations, available cash and cash equivalents, and available borrowings under our revolving credit facility will be sufficient to fund our primary obligations for the next fiscal year.
We believe funds generated from our expected results of operations, available cash and cash equivalents, and available borrowing under our new credit facility will be sufficient to fund our primary obligations for the next fiscal year, including our acquisition of GPI on January 2, 2014 and its ongoing operation.
2
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1158449_14_item7_p60_s1
1158449_13_item7_p57_s1
This increase in cash was primarily a result of cash generated from operations and the issuance of senior unsecured notes partially offset by investments in property and equipment and net payments on our credit facilities.
This increase in cash was primarily a result of cash generated from operations and the issuance of senior unsecured notes partially offset by investments in property and equipment and cash used in the acquisition of BWP.
2
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[]
[ "used", "acquisition", "BWP" ]
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1158449_14_item7_p71_s1
1158449_13_item7_p72_s1
This net increase in operating cash flow was primarily due to:
This net decrease in operating cash flow was primarily due to:
2
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[]
[ "decrease" ]
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1158449_14_item7_p85_s0
1158449_13_item7_p84_s0
The interest rate on borrowings under the revolving credit facility is based, at our option, on an adjusted LIBOR rate, plus a margin, or an alternate base rate, plus a margin.
The interest rate on the term loan is based, at our option, on adjusted LIBOR, plus a margin, or an alternate base rate, plus a margin.
2
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[]
[ "term", "loan" ]
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1158449_14_item7_p84_s2
1158449_13_item7_p85_s2
Under the terms of the revolving credit facility, the interest rate and facility fee are based on our credit rating.
Under the terms of the 2013 Credit Agreement, the interest rate and facility fee are based on our credit rating.
2
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[]
[ "2013", "Credit", "Agreement" ]
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1158449_14_item7_p88_s0
1158449_13_item7_p86_s1
We are also required to comply with financial covenants with respect to a maximum leverage ratio and a minimum consolidated coverage ratio.
Advance Stores is required to comply with financial covenants with respect to a maximum leverage ratio and a minimum coverage ratio.
2
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[]
[ "Advance", "Stores" ]
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1158449_14_item7_p90_s4
1158449_13_item7_p87_s4
We served as the issuer of the Notes with certain of our domestic subsidiaries currently serving as subsidiary guarantors.
Advance served as the issuer of the Notes with certain of Advance s domestic subsidiaries currently serving as subsidiary guarantors.
2
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[]
[ "Advance", "Advance" ]
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1158449_15_item7_p105_s2
1158449_14_item7_p116_s1
An increase to our inventory reserves is recorded as an increase to our cost of sales.
Conversely, a decrease to our inventory reserves is recorded as a decrease to our cost of sales.
2
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[]
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1158449_15_item7_p105_s1
1158449_14_item7_p116_s2
Conversely, a decrease to our inventory reserves is recorded as a decrease to our cost of sales.
An increase to our inventory reserves is recorded as an increase to our cost of sales.
2
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[]
[ "increase", "increase" ]
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1158449_15_item7_p99_s1
1158449_14_item7_p131_s1
These types of analyses contain uncertainties because they require management to make assumptions as a marketplace participant would and to apply judgment to estimate industry economic factors and the profitability of future business strategies of our company and our reporting units.
These types of analyses require management to make assumptions as a marketplace participant would and to apply judgment to estimate industry economic factors and the profitability of future business strategies of our company and our reporting units.
2
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[]
[]
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1158449_15_item7_p18_s2
1158449_14_item7_p16_s2
Through these two key strategies, we believe we can continue to build on the initiatives discussed below and produce favorable financial results over the long term.
Through these two key strategies and the integration of GPI, we believe we can continue to build on the initiatives discussed below to produce favorable financial results over the long term.
2
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[]
[ "integration", "GPI" ]
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1158449_15_item7_p12_s0
1158449_14_item7_p18_s0
On December 31, 2012, we acquired B.W.P. Distributors, Inc., a privately-held company that supplied, marketed and distributed automotive aftermarket parts and products principally to Commercial customers.
On December 31, 2012, we acquired BWP, a privately-held company that supplied, marketed and distributed automotive aftermarket parts and products principally to Commercial customers.
2
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[]
[ "BWP" ]
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1158449_15_item7_p12_s1
1158449_14_item7_p19_s0
operated or supplied 216 locations in the Northeastern United States.
Prior to the acquisition, BWP operated or supplied 216 locations in the Northeastern United States.
2
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[]
[ "Prior", "acquisition", "BWP" ]
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1158449_15_item7_p11_s3
1158449_14_item7_p21_s3
For additional information on the GPI acquisition, refer to Note 23 , Subsequent Event, in the Notes to our Consolidated Financial Statements, included in Item 15.
For additional information on the GPI acquisition, refer to Note 4 , "Acquisitions," in the Notes to our Consolidated Financial Statements.
2
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[]
[ "Acquisitions" ]
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1158449_15_item7_p26_s2
1158449_14_item7_p29_s2
While we believe there are ongoing macroeconomic pressures on our consumers, the return of increases in miles driven and stabilization in gasoline prices and improvements in the unemployment rate will continue to drive demand in the automotive aftermarket industry.
While we believe there are ongoing macroeconomic pressures on our consumers, we believe the return of increases in miles driven will continue to drive demand in the automotive aftermarket industry.
2
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1158449_15_item7_p34_s1
1158449_14_item7_p35_s3
Our gross profit may not be comparable to those of our competitors due to differences in industry practice regarding the classification of certain costs.
Our cost of sales and gross profit rates may not be comparable to that of our competitors due to differences in industry practice regarding the classification of certain costs and mix of Commercial and DIY sales.
2
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[]
[ "cost", "sales", "rates", "mix", "Commercial", "DIY", "sales" ]
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1158449_15_item7_p43_s1
1158449_14_item7_p47_s1
As a percentage of net sales, net income for Fiscal 2013 was 6.0% , as compared to 6.2% for Fiscal 2012 .
As a percentage of net sales, net income for 2014 was 5.0% , as compared to 6.0% for 2013 .
2
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[]
[ "5.0" ]
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1158449_15_item7_p4_s1
1158449_14_item7_p4_s2
Through our integrated operating approach, we serve our DIY and Commercial customers from our store locations and online at www.AdvanceAutoParts.com.
Through our integrated operating approach, we serve our Commercial and DIY customers from our store locations and online at www.AdvanceAutoParts.com, www.Carquest.com and www.Worldpac.com.
2
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[]
[ "www.Carquest.com", "www.Worldpac.com" ]
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1158449_15_item7_p47_s0
1158449_14_item7_p54_s0
Operating income for Fiscal 2012 was $657.3 million , representing 10.6% of net sales, as compared to $664.6 million , or 10.8% of net sales, for Fiscal 2011 , a decrease of 18 basis points.
Operating income for 2013 was $660.3 million , representing 10.2% of net sales, as compared to $657.3 million , or 10.6% of net sales, for 2012 , a decrease of 42 basis points.
2
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[]
[ "660.3", "10.2" ]
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1158449_15_item7_p50_s1
1158449_14_item7_p58_s1
As a percentage of net sales, net income for Fiscal 2012 was 6.2% , as compared to 6.4% for Fiscal 2011 .
As a percentage of net sales, net income for 2013 was 6.0% , as compared to 6.2% for 2012 .
2
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[]
[ "6.0" ]
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1158449_15_item7_p53_s3
1158449_14_item7_p59_s3
We believe funds generated from our expected results of operations, available cash and cash equivalents, and available borrowing under our new credit facility will be sufficient to fund our primary obligations for the next fiscal year, including our acquisition of GPI on January 2, 2014 and its ongoing operation.
We believe funds generated from our expected results of operations, available cash and cash equivalents, and available borrowing under our credit facility will be sufficient to fund our primary obligations for the next fiscal year.
2
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[]
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1158449_15_item7_p68_s0
1158449_14_item7_p75_s1
The increase in cash used in investing activities was primarily driven by cash used in the acquisition of BWP, partially offset by a reduction in investments in property and equipment as a result of less spending on existing stores, new store development, information technology, and investments in supply chain.
in property and equipment as a result of less spending on existing stores, new store development, information technology, and investments in supply chain.
2
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[]
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1158449_15_item7_p75_s0
1158449_14_item7_p83_s0
The interest rate on borrowings under the revolving credit facility is based, at our option, on adjusted LIBOR, plus a margin, or an alternate base rate, plus a margin.
The interest rate on the term loan is based, at our option, on adjusted LIBOR, plus a margin, or an alternate base rate, plus a margin.
2
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[]
[ "term", "loan" ]
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