CarMax 2002 Annual Report Download - page 87
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85 CIRCUIT CITY STORES, INC. ANNUAL REPORT 2002
CARMAX GROUP
CARMAX GROUP BALANCE SHEETS
At February 28
(Amounts in thousands) 2002 2001
ASSETS
CURRENT ASSETS:
Cash [NOTE 2] .............................................................................................................................. $ 3,286 $ 8,802
Net accounts receivable [NOTE 10] ................................................................................................ 173,268 134,662
Inventory.................................................................................................................................... 399,084 347,137
Prepaid expenses and other current assets ................................................................................... 2,065 2,306
TOTAL CURRENT ASSETS ............................................................................................................ 577,703 492,907
Property and equipment, net [NOTES 3 AND 4] ............................................................................... 120,976 192,158
Other assets................................................................................................................................ 21,543 25,888
TOTAL ASSETS ............................................................................................................................ $720,222 $710,953
LIABILITIES AND GROUP EQUITY
CURRENT LIABILITIES:
Current installments of allocated long-term debt [NOTES 1 AND 4] ................................................. $ 78,608 $108,151
Accounts payable........................................................................................................................ 87,160 82,483
Allocated short-term debt [NOTES 1 AND 4].................................................................................... 9,840 987
Accrued expenses and other current liabilities............................................................................. 25,775 16,154
Deferred income taxes [NOTES 1 AND 5] ......................................................................................... 22,009 18,162
TOTAL CURRENT LIABILITIES ...................................................................................................... 223,392 225,937
Allocated long-term debt, excluding current installments [NOTES 1 AND 4] .................................... –83,057
Deferred revenue and other liabilities ......................................................................................... 8,416 6,836
Deferred income taxes [NOTES 1 AND 5] ......................................................................................... 2,935 3,620
TOTAL LIABILITIES....................................................................................................................... 234,743 319,450
GROUP EQUITY .......................................................................................................................... 485,479 391,503
Commitments and contingent liabilities [NOTES 1, 7, 8 AND 12]
TOTAL LIABILITIES AND GROUP EQUITY ..................................................................................... $720,222 $710,953
See accompanying notes to Group financial statements.