CarMax 2002 Annual Report Download - page 39

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37 CIRCUIT CITY STORES, INC. ANNUAL REPORT 2002
CIRCUIT CITY STORES, INC.
CONSOLIDATED BALANCE SHEETS
At February 28
(Amounts in thousands except share data) 2002 2001
ASSETS
CURRENT ASSETS:
Cash and cash equivalents [NOTE 2]........................................................................................ $1,251,532 $ 446,131
Net accounts receivable [NOTE 11] .......................................................................................... 726,541 585,761
Inventory ............................................................................................................................. 1,633,327 1,757,664
Prepaid expenses and other current assets ............................................................................. 41,311 57,623
TOTAL CURRENT ASSETS ...................................................................................................... 3,652,711 2,847,179
Property and equipment, net [NOTES 3 AND 4] ......................................................................... 853,778 988,947
Other assets.......................................................................................................................... 32,897 35,207
TOTAL ASSETS ...................................................................................................................... $4,539,386 $3,871,333
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Current installments of long-term debt [NOTES 4 AND 9] ......................................................... $ 102,073 $ 132,388
Accounts payable.................................................................................................................. 1,106,679 902,560
Short-term debt [NOTE 4] ....................................................................................................... 10,237 1,200
Accrued expenses and other current liabilities....................................................................... 183,336 162,972
Accrued income taxes ........................................................................................................... 100,696 –
Deferred income taxes [NOTE 5] ............................................................................................. 138,306 92,479
TOTAL CURRENT LIABILITIES ................................................................................................ 1,641,327 1,291,599
Long-term debt, excluding current installments [NOTES 4 AND 9] ............................................ 14,064 116,137
Deferred revenue and other liabilities ................................................................................... 149,269 92,165
Deferred income taxes [NOTE 5] ............................................................................................. 288 14,949
TOTAL LIABILITIES ................................................................................................................ 1,804,948 1,514,850
STOCKHOLDERS’ EQUITY [NOTES 1 AND 6]:
Circuit City Group Common Stock, $0.50 par value; 350,000,000 shares authorized;
208,823,000 shares issued and outstanding (207,020,000 in 2001)................................. 104,411 103,510
CarMax Group Common Stock, $0.50 par value; 175,000,000 shares authorized;
36,851,000 shares issued and outstanding (25,639,000 in 2001)..................................... 18,426 12,820
Capital in excess of par value ................................................................................................ 810,047 642,838
Retained earnings................................................................................................................. 1,801,554 1,597,315
TOTAL STOCKHOLDERS’ EQUITY .......................................................................................... 2,734,438 2,356,483
Commitments and contingent liabilities [NOTES 1, 8, 9, 13, 14 AND 15]
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY ................................................................ $4,539,386 $3,871,333
See accompanying notes to consolidated financial statements.