align_epi_anat workflow

Hi afni experts,
using the align_epi_anat command as shown below, my question is the found transformations (Slice timing, motion correction, reg EPI to ANAT, reg EPI to MNI) are applied one at a time or all together?

Tanhks \
    -anat  ANAT.nii.gz \
    -epi   EPI_r01.nii.gz \
    -child_epi EPI_r??.nii.gz \
    -epi_base 0 \
    -tshift_opts -tpattern  @slice_time.1D \
    -epi2anat \
    -giant_move \
    -tlrc_apar ANAT_MNI.nii.gz

Slice timing is applied separately. The alignment steps are combined and applied altogether with a concatenated transformation.