CarMax 2008 Annual Report Download - page 50

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38
CONSOLIDATED BALANCE SHEETS
As of February 29 or 28
(In thousands except share data) 2008 2007
ASSETS
CURRENT ASSETS:
Cash and cash equivalents ...................................................................................... $ 12,965 $ 19,455
Accounts receivable, net......................................................................................... 73,228 71,413
Auto loan receivables held for sale......................................................................... 4,984 6,162
Retained interest in securitized receivables............................................................ 270,761 202,302
Inventory ................................................................................................................ 975,777 836,116
Prepaid expenses and other current assets .............................................................. 19,210 15,068
TOTAL CURRENT ASSETS............................................................................................. 1,356,925 1,150,516
Property and equipment, net................................................................................... 862,497 651,850
Deferred income taxes............................................................................................ 67,066 40,174
Other assets............................................................................................................. 46,673 43,033
TOTAL ASSETS ........................................................................................................... $ 2,333,161 $ 1,885,573
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable ................................................................................................... $ 306,013 $ 254,895
Accrued expenses and other current liabilities ....................................................... 58,054 68,885
Accrued income taxes............................................................................................. 7,569 23,377
Deferred income taxes............................................................................................ 17,710 13,132
Short-term debt....................................................................................................... 21,017 3,290
Current portion of long-term debt .......................................................................... 79,661 148,443
TOTAL CURRENT LIABILITIES ...................................................................................... 490,024 512,022
Long-term debt, excluding current portion............................................................. 227,153 33,744
Deferred revenue and other liabilities..................................................................... 127,058 92,432
TOTAL LIABILITIES .................................................................................................... 844,235 638,198
Commitments and contingent liabilities ................................................................. — —
SHAREHOLDERS’ EQUITY:
Common stock, $0.50 par value; 350,000,000 shares authorized;
218,616,069 and 216,028,166 shares issued and outstanding as of
February 29, 2008, and February 28, 2007, respectively.................................... 109,308 108,014
Capital in excess of par value................................................................................. 641,766 587,546
Accumulated other comprehensive loss ................................................................. (16,728) (20,332)
Retained earnings ................................................................................................... 754,580 572,147
TOTAL SHAREHOLDERS’ EQUITY.................................................................................. 1,488,926 1,247,375
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY ......................................................... $ 2,333,161 $ 1,885,573
See accompanying notes to consolidated financial statements.