CarMax 2006 Annual Report Download - page 39

At February 28
(In thousands except share data) 2006 2005
ASSETS
CURRENT ASSETS:
Cash and cash equivalents............................................................................................... $ 21,759 $ 17,124
Accounts receivable, net................................................................................................... 76,621 76,167
Automobile loan receivables held for sale....................................................................... 4,139 22,152
Retained interest in securitized receivables ..................................................................... 158,308 147,963
Inventory........................................................................................................................... 669,700 576,567
Prepaid expenses and other current assets...................................................................... 11,211 13,008
TOTAL CURRENT ASSETS ........................................................................................................... 941,738 852,981
Property and equipment, net ........................................................................................... 499,298 406,301
Deferred income taxes...................................................................................................... 4,211 —
Other assets....................................................................................................................... 44,000 33,731
TOTAL ASSETS ........................................................................................................................ $1,489,247 $1,293,013
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable .............................................................................................................. $ 188,614 $ 170,646
Accrued expenses and other current liabilities................................................................ 85,316 65,664
Accrued income taxes....................................................................................................... 5,598 1,179
Deferred income taxes...................................................................................................... 23,562 26,315
Short-term debt................................................................................................................. 463 65,197
Current portion of long-term debt................................................................................... 59,762 330
TOTAL CURRENT LIABILITIES ...................................................................................................... 363,315 329,331
Long-term debt, excluding current portion..................................................................... 134,787 128,419
Deferred revenue and other liabilities ............................................................................. 31,407 29,260
Deferred income taxes...................................................................................................... —5,027
TOTAL LIABILITIES ................................................................................................................... 529,509 492,037
Commitments and contingent liabilities
SHAREHOLDERS’ EQUITY:
Common stock, $0.50 par value; 350,000,000 shares authorized;
104,954,983 and 104,303,375 shares issued and outstanding at
February 28, 2006 and 2005, respectively ................................................................. 52,477 52,152
Capital in excess of par value .......................................................................................... 499,546 489,164
Retained earnings ............................................................................................................. 407,715 259,660
TOTAL SHAREHOLDERS’ EQUITY .................................................................................................. 959,738 800,976
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY ............................................................................ $1,489,247 $1,293,013
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CONSOLIDATED BALANCE SHEETS
See accompanying notes to consolidated financial statements.