CarMax 2002 Annual Report Download - page 65

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63 CIRCUIT CITY STORES, INC. ANNUAL REPORT 2002
CIRCUIT CITY GROUP
CIRCUIT CITY GROUP BALANCE SHEETS
At February 28
(Amounts in thousands) 2002 2001
ASSETS
CURRENT ASSETS:
Cash and cash equivalents [NOTE 2]........................................................................................ $1,248,246 $ 437,329
Net accounts receivable [NOTE 10] .......................................................................................... 553,273 451,099
Merchandise inventory......................................................................................................... 1,234,243 1,410,527
Prepaid expenses and other current assets ............................................................................. 39,246 55,317
TOTAL CURRENT ASSETS ...................................................................................................... 3,075,008 2,354,272
Property and equipment, net [NOTES 3 AND 4] ......................................................................... 732,802 796,789
Deferred income taxes .......................................................................................................... 2,647 –
Reserved CarMax Group shares [NOTE 2] ............................................................................... 311,386 292,179
Other assets.......................................................................................................................... 11,354 9,319
TOTAL ASSETS ...................................................................................................................... $4,133,197 $3,452,559
LIABILITIES AND GROUP EQUITY
CURRENT LIABILITIES:
Current installments of allocated long-term debt [NOTES 1, 4 AND 8] ........................................ $ 23,465 $ 24,237
Accounts payable.................................................................................................................. 1,019,519 820,077
Allocated short-term debt [NOTES 1 AND 4].............................................................................. 397 213
Accrued expenses and other current liabilities....................................................................... 157,561 146,818
Accrued income taxes ........................................................................................................... 100,696 –
Deferred income taxes [NOTES 1 AND 5] ................................................................................... 116,297 74,317
TOTAL CURRENT LIABILITIES ................................................................................................ 1,417,935 1,065,662
Allocated long-term debt, excluding current installments [NOTES 1, 4 AND 8] ........................... 14,064 33,080
Deferred revenue and other liabilities ................................................................................... 140,853 85,329
Deferred income taxes [NOTES 1 AND 5] ................................................................................... –11,329
TOTAL LIABILITIES ................................................................................................................ 1,572,852 1,195,400
GROUP EQUITY .................................................................................................................... 2,560,345 2,257,159
Commitments and contingent liabilities [NOTES 1, 7, 8, 12, 13 AND 14]
TOTAL LIABILITIES AND GROUP EQUITY............................................................................... $4,133,197 $3,452,559
See accompanying notes to Group financial statements.