CarMax 2011 Annual Report Download - page 52

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C O N S O L I D A T E D B A L A N C E S H E E T S
See accompanying notes to consolidated financial statements.
42
CURRENT ASSETS:
Cash and cash equivalents 41,121$ 18,278$
Restricted cash from collections on auto loan receivables 161,052 ―
Accounts receivable, net 119,597 99,434
Auto loan receivables held for sale ― 30,578
Retained interest in securitized receivables ― 552,377
Inventory 1,049,477 843,133
Deferred income taxes 5,191 5,595
Other current assets 33,660 7,017
TOTAL CURRENT ASSETS 1,410,098 1,556,412
Auto loan receivables, net 4,320,575 ―
Property and equipment, net 920,045 893,453
Deferred income taxes 92,278 57,234
Other assets 96,913 49,092
TOTAL ASSETS $ 6,839,909 $ 2,556,191
CURRENT LIABILITIES:
Accounts payable 269,763$ $ 253,267
Accrued expenses and other current liabilities 103,389 94,557
Accrued income taxes 772 6,327
Short-term debt 1,002 883
Current portion of long-term debt 772 122,317
Current portion of non-recourse notes payable 132,519 ―
TOTAL CURRENT LIABILITIES 508,217 477,351
Long-term debt, excluding current portion 28,350 27,371
Non-recourse notes payable, excluding current portion 3,881,142
―
Other liabilities 130,570 117,887
TOTAL LIABILITIES 4,548,279 622,609
Commitments and contingent liabilities
SHAREHO LDERS’ EQ UITY:
Common stock, $0.50 par value; 350,000,000 shares authorized;
225,885,693 and 223,065,542 shares issued and outstanding as of
February 28, 2011 and 2010, respectively 112,943 111,533
Capital in excess of par value 820,639 746,134
Accumulated other comprehensive loss (25,057) (19,546)
Retained earnings 1,383,105 1,095,461
TO TAL SHAREHO LDERS’ EQ UITY 2,291,630 1,933,582
TO TAL LIABILITIES AND SHAREHO LDERS’ EQ UITY $ 6,839,909 $ 2,556,191
LIABILITIES AND SHAREHO LDERS’ EQ UITY
As of February 28
(In thousands except share data)
2011 (1)
2010
ASSETS
(1) As discussed in Note 2(E), fiscal 2011 reflects the adoption of ASU Nos. 2009-16 and 2009-17 effective March 1, 2010.