CarMax 1999 Annual Report Download - page 71

At February 28
(Amounts in thousands) 1999 1998
ASSETS
CURRENT ASSETS:
Cash and cash equivalents................................................................................................................... $ 17,679 $26,412
Net accounts receivable [NOTE 5].......................................................................................................... 97,364 60,866
Inventory............................................................................................................................................. 225,460 143,970
Prepaid expenses and other current assets........................................................................................... 620 1,359
TOTAL CURRENT ASSETS ................................................................................................................
341,123 232,607
Property and equipment, net [NOTES 6AND 7]......................................................................................... 203,946 214,087
Other assets......................................................................................................................................... 26,129 1,628
TOTAL ASSETS .................................................................................................................................. $571,198 $448,322
LIABILITIES AND GROUP EQUITY
CURRENT LIABILITIES:
Current installments of long-term debt [NOTE 7] .................................................................................. $ 1,250 $ –
Accounts payable ................................................................................................................................ 59,838 51,220
Short-term debt [NOTE 7]...................................................................................................................... 4,605 385
Accrued expenses and other current liabilities .................................................................................... 8,556 3,604
Deferred income taxes [NOTE 8]............................................................................................................ 7,674 370
TOTAL CURRENT LIABILITIES .........................................................................................................
81,923 55,579
Long-term debt, excluding current installments [NOTE 7] ..................................................................... 139,720 27,386
Deferred revenue and other liabilities ................................................................................................. 5,015 5,266
Deferred income taxes [NOTE 8]............................................................................................................ 4,125 145
TOTAL LIABILITIES ...........................................................................................................................
230,783 88,376
GROUP EQUITY................................................................................................................................ 340,415 359,946
Commitments and contingent liabilities [NOTES 1, 5, 11, 12, 14 AND 15]
TOTAL LIABILITIES AND GROUP EQUITY .................................................................................... $571,198 $448,322
See accompanying notes to group financial statements.
CARMAX GROUP BALANCE SHEETS
CARMAX GROUP
CIRCUIT CITY STORES, INC. 1999 ANNUAL REPORT 69