This excerpt taken from the AAP 10-K filed Mar 17, 2005.
Advance Auto Parts, Inc. (the Company) is a holding company, which was the 100% shareholder of Advance Stores Company, Incorporated and its subsidiaries (Stores) during the periods presented. The parent/subsidiary relationship between the Company and Stores includes certain related party transactions. These transactions consist primarily of interest on intercompany advances, dividends, capital contributions and allocations of certain costs. Deferred income taxes have not been provided for financial reporting and tax basis differences on the undistributed earnings of the subsidiaries.