CarMax 1999 Annual Report Download - page 53

At February 28
(Amounts in thousands) 1999 1998
ASSETS
CURRENT ASSETS:
Cash and cash equivalents.............................................................................................................. $ 248,201 $90,200
Net accounts receivable [NOTE 12].................................................................................................... 476,952 537,169
Merchandise inventory................................................................................................................... 1,292,215 1,266,575
Prepaid expenses and other current assets...................................................................................... 36,024 19,798
TOTAL CURRENT ASSETS............................................................................................................
2,053,392 1,913,742
Property and equipment, net [NOTES 4AND 5]..................................................................................... 801,827 834,347
Inter-Group Interest in the CarMax Group [NOTE 2]........................................................................ 260,758 278,239
Other assets.................................................................................................................................... 18,849 35,290
TOTAL ASSETS.............................................................................................................................. $3,134,826 $3,061,618
LIABILITIES AND GROUP EQUITY
CURRENT LIABILITIES:
Current installments of long-term debt [NOTES 5AND 10]................................................................... $ 1,457 $1,301
Accounts payable........................................................................................................................... 739,895 714,171
Short-term debt [NOTE 5]................................................................................................................. 3,411 5,591
Accrued expenses and other current liabilities ............................................................................... 135,029 129,198
Deferred income taxes [NOTE 6]....................................................................................................... 2,090 –
TOTAL CURRENT LIABILITIES....................................................................................................
881,882 850,261
Long-term debt, excluding current installments [NOTES 5AND 10] ..................................................... 286,865 396,906
Deferred revenue and other liabilities ............................................................................................ 107,070 139,841
Deferred income taxes [NOTE 6]....................................................................................................... 33,536 26,278
TOTAL LIABILITIES ......................................................................................................................
1,309,353 1,413,286
GROUP EQUITY........................................................................................................................... 1,825,473 1,648,332
Commitments and contingent liabilities [NOTES 1, 9, 10, 12, 14 AND 15]
TOTAL LIABILITIES AND GROUP EQUITY ............................................................................... $3,134,826 $3,061,618
See accompanying notes to group financial statements.
CIRCUIT CITY GROUP BALANCE SHEETS
CIRCUIT CITY GROUP
CIRCUIT CITY STORES, INC. 1999 ANNUAL REPORT 51