CarMax 2016 Annual Report Download - page 45
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CONSOLIDATED BALANCE SHEETS
As of February 29 or 28
(In thousands except share data) 2016 2015
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ 37,394 $ 27,606
Restricted cash from collections on auto loan receivables 343,829 294,122
Accounts receivable, net 132,171 137,690
Inventory 1,932,029 2,086,874
Other current assets 26,358 44,646
TOTAL CURRENT ASSETS 2,471,781 2,590,938
Auto loan receivables, net 9,536,892 8,435,504
Property and equipment, net 2,161,698 1,862,538
Deferred income taxes 161,862 175,738
Other assets 149,343 133,483
TOTAL ASSETS $ 14,481,576 $ 13,198,201
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable $ 441,746 $ 454,810
Accrued expenses and other current liabilities 245,909 250,307
Accrued income taxes 2,029 1,554
Short-term debt 428 785
Current portion of long-term debt —10,000
Current portion of finance and capital lease obligations 14,331 21,554
Current portion of non-recourse notes payable 300,750 258,163
TOTAL CURRENT LIABILITIES 1,005,193 997,173
Long-term debt, excluding current portion 715,000 300,000
Finance and capital lease obligations, excluding current portion 400,323 306,284
Non-recourse notes payable, excluding current portion 9,227,000 8,212,466
Other liabilities 229,274 225,493
TOTAL LIABILITIES 11,576,790 10,041,416
Commitments and contingent liabilities
SHAREHOLDERS’ EQUITY:
Common stock, $0.50 par value; 350,000,000 shares authorized; 194,712,234 and 208,869,688
shares issued and outstanding as of February 29, 2016 and February 28, 2015, respectively 97,356 104,435
Capital in excess of par value 1,130,822 1,123,520
Accumulated other comprehensive loss (70,196) (65,391)
Retained earnings 1,746,804 1,994,221
TOTAL SHAREHOLDERS’ EQUITY 2,904,786 3,156,785
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 14,481,576 $ 13,198,201
See accompanying notes to consolidated financial statements.