CarMax 2015 Annual Report Download - page 46

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CONSOLIDATED BALANCE SHEETS
See accompanying notes to consolidated financial statements.
42
As of February 28
(In thousands except share data) 2015 2014
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ 27,606 $ 627,901
Restricted cash from collections on auto loan receivables 294,122 259,299
Accounts receivable, net 137,690 79,923
Inventory 2,086,874 1,641,424
Deferred income taxes 8,100 7,866
Other current assets 44,646 26,811
TOTAL CURRENT ASSETS 2,599,038 2,643,224
Auto loan receivables, net 8,435,504 7,147,848
Property and equipment, net 1,862,538 1,652,977
Deferred income taxes 167,638 152,199
Other assets 133,483 110,909
TOTAL ASSETS $ 13,198,201 $ 11,707,157
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable $ 454,810 $ 427,492
Accrued expenses and other current liabilities 250,307 202,588
Accrued income taxes 1,554 2,438
Short-term debt 785 582
Current portion of long-term debt 10,000 ―
Current portion of finance and capital lease obligations 21,554 18,459
Current portion of non-recourse notes payable 258,163 223,938
TOTAL CURRENT LIABILITIES 997,173 875,497
Long-term debt, excluding current portion 300,000 ―
Finance and capital lease obligations, excluding current portion 306,284 315,925
N
on-recourse notes payable, excluding current portion 8,212,466 7,024,506
Other liabilities 225,493 174,232
TOTAL LIABILITIES 10,041,416 8,390,160
Commitments and contingent liabilities
SHAREHOLDERS’ EQUITY:
Common stock, $0.50 par value; 350,000,000 shares authorized;
208,869,688 and 221,685,984 shares issued and outstanding
as of February 28, 2015 and 2014, respectively 104,435 110,843
Capital in excess of par value 1,123,520 1,038,209
Accumulated other comprehensive loss (65,391) (46,271)
Retained earnings 1,994,221 2,214,216
TOTAL SHAREHOLDERS’ EQUITY 3,156,785 3,316,997
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 13,198,201 $ 11,707,157