10-Q Filing

COPART INC CIK: 900075 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0000900075-18-000067`
Period End Date	20181031
Filing Date	20181129
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	cprt-20181031.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 38 Cash Flow Statement 68 Comprehensive Income 10

Balance Sheet 78 line items

Line Item	Tag	Value	Unit	Period
Preferred stock par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$224.25M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$320.31M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$274.52M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$210.10M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$351.60M	USD	Point-in-time
Common stock par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$336.00M	USD	Point-in-time
Vehicle pooling costs	`VehiclePoolingCosts`	$70.60M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	400.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	400.00M	shares	Point-in-time
Vehicle pooling costs	`VehiclePoolingCosts`	$34.28M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	234.01M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	233.89M	shares	Point-in-time
Inventories	`InventoryNet`	$16.73M	USD	Point-in-time
Inventories	`InventoryNet`	$19.73M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	233.89M	shares	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$15.31M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	234.01M	shares	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$24.00K	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$16.55M	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$16.66M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$709.12M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$763.22M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.16B	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.19B	USD	Point-in-time
Intangibles, net	`FiniteLivedIntangibleAssetsNet`	$62.90M	USD	Point-in-time
Intangibles, net	`FiniteLivedIntangibleAssetsNet`	$64.89M	USD	Point-in-time
Goodwill	`Goodwill`	$337.24M	USD	Point-in-time
Goodwill	`Goodwill`	$335.12M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$470.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$468.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$32.56M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$31.99M	USD	Point-in-time
Total assets	`Assets`	$2.38B	USD	Point-in-time
Total assets	`Assets`	$2.31B	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$235.98M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$270.94M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$4.49M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$4.93M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$673.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$12.89M	USD	Point-in-time
Current portion of revolving loan facility and capital lease obligations	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$999.00K	USD	Point-in-time
Current portion of revolving loan facility and capital lease obligations	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$1.15M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$254.81M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$277.26M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$19.73M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$23.82M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesNoncurrent`	$27.28M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesNoncurrent`	$29.25M	USD	Point-in-time
Long-term debt, revolving loan facility and capital lease obligations, net of discount	`LongTermDebtAndCapitalLeaseObligations`	$398.75M	USD	Point-in-time
Long-term debt, revolving loan facility and capital lease obligations, net of discount	`LongTermDebtAndCapitalLeaseObligations`	$398.64M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$3.51M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$3.59M	USD	Point-in-time
Total liabilities	`Liabilities`	$726.60M	USD	Point-in-time
Total liabilities	`Liabilities`	$710.03M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock: $0.0001 par value - 5,000,000 shares authorized; none issued	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock: $0.0001 par value - 5,000,000 shares authorized; none issued	`PreferredStockValue`	-	USD	Point-in-time
Common stock: $0.0001 par value - 400,000,000 shares authorized; 234,008,162 and 233,898,841 shares issued and outstanding, respectively.	`CommonStockValue`	$23.00K	USD	Point-in-time
Common stock: $0.0001 par value - 400,000,000 shares authorized; 234,008,162 and 233,898,841 shares issued and outstanding, respectively.	`CommonStockValue`	$23.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$526.86M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$534.11M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-107.93M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-115.65M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.16B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.25B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.58B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.67B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$2.38B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$2.31B	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Service revenues and vehicle sales:	`RevenueFromContractWithCustomerIncludingAssessedTax`	$461.37M	USD	1 Quarter
Service revenues and vehicle sales:	`RevenueFromContractWithCustomerIncludingAssessedTax`	$419.17M	USD	1 Quarter
Yard operations	`DirectOperatingCosts`	$217.61M	USD	1 Quarter
Yard operations	`DirectOperatingCosts`	$207.69M	USD	1 Quarter
Cost of vehicle sales	`CostOfGoodsAndServicesSold`	$38.30M	USD	1 Quarter
Cost of vehicle sales	`CostOfGoodsAndServicesSold`	$57.76M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$39.32M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$44.48M	USD	1 Quarter
Total operating expenses	`OperatingCostsAndExpenses`	$295.23M	USD	1 Quarter
Total operating expenses	`OperatingCostsAndExpenses`	$309.93M	USD	1 Quarter
Interest expense	`InterestExpense`	$5.59M	USD	1 Quarter
Interest expense	`InterestExpense`	$4.65M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$960.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$197.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-4.42M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$1.04M	USD	1 Quarter
Total other expenses	`NonoperatingIncomeExpense`	$-2.65M	USD	1 Quarter
Total other expenses	`NonoperatingIncomeExpense`	$-9.81M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$123.94M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$151.44M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$114.13M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$148.79M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$36.57M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$34.70M	USD	1 Quarter
Net income	`ProfitLoss`	$77.56M	USD	1 Quarter
Net income	`ProfitLoss`	$114.08M	USD	1 Quarter
Net income attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$45.00K	USD	1 Quarter
Net income attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	-	USD	1 Quarter
Net income attributable to Copart, Inc.	`NetIncomeLoss`	$114.08M	USD	1 Quarter
Net income attributable to Copart, Inc.	`NetIncomeLoss`	$77.52M	USD	1 Quarter
Basic net income per common share	`EarningsPerShareBasic`	$0.49	USD	1 Quarter
Basic net income per common share	`EarningsPerShareBasic`	$0.34	USD	1 Quarter
Weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	230.69M	shares	1 Quarter
Weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	233.89M	shares	1 Quarter
Diluted net income per common share	`EarningsPerShareDiluted`	$0.47	USD	1 Quarter
Diluted net income per common share	`EarningsPerShareDiluted`	$0.32	USD	1 Quarter
Diluted weighted average common shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	244.83M	shares	1 Quarter
Diluted weighted average common shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	238.79M	shares	1 Quarter

Cash Flow Statement 68 line items

Line Item	Tag	Value	Unit	Period
Net income (Loss), Including Portion Attributable to Noncontrolling Interest	`ProfitLoss`	$77.56M	USD	1 Quarter
Net income (Loss), Including Portion Attributable to Noncontrolling Interest	`ProfitLoss`	$114.08M	USD	1 Quarter
Depreciation and amortization, including debt cost	`DepreciationAmortizationAndAccretionNet`	$16.01M	USD	1 Quarter
Depreciation and amortization, including debt cost	`DepreciationAmortizationAndAccretionNet`	$21.98M	USD	1 Quarter
Allowance for doubtful accounts	`ProvisionForDoubtfulAccounts`	$547.00K	USD	1 Quarter
Allowance for doubtful accounts	`ProvisionForDoubtfulAccounts`	$128.00K	USD	1 Quarter
Equity in losses of unconsolidated affiliates	`IncomeLossFromEquityMethodInvestments`	$184.00K	USD	1 Quarter
Equity in losses of unconsolidated affiliates	`IncomeLossFromEquityMethodInvestments`	$109.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$5.31M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$6.02M	USD	1 Quarter
(Gain) loss on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$102.00K	USD	1 Quarter
(Gain) loss on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-4.46M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-888.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$2.76M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$29.27M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$55.90M	USD	1 Quarter
Vehicle pooling costs	`IncreaseDecreaseInVehiclePoolingCosts`	$10.31M	USD	1 Quarter
Vehicle pooling costs	`IncreaseDecreaseInVehiclePoolingCosts`	$6.57M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$3.27M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-36.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$73.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$62.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$2.42M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-687.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$22.21M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-20.61M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$467.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$166.00K	USD	1 Quarter
Income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-15.29M	USD	1 Quarter
Income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-6.27M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$14.18M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$23.46M	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-435.00K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-368.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$107.68M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$93.36M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$41.48M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$62.34M	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$810.00K	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$2.02M	USD	1 Quarter
Purchase of assets in connection with acquisitions	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$-123.00K	USD	1 Quarter
Purchase of assets in connection with acquisitions	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-39.34M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-61.53M	USD	1 Quarter
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$9.25M	USD	1 Quarter
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$1.23M	USD	1 Quarter
Payments for employee stock-based tax withholdings	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$3.00K	USD	1 Quarter
Payments for employee stock-based tax withholdings	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$2.00K	USD	1 Quarter
Net repayments on revolving loan facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$-49.00M	USD	1 Quarter
Net repayments on revolving loan facility	`ProceedsFromRepaymentsOfLinesOfCredit`	-	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-39.75M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$1.23M	USD	1 Quarter
Effect of foreign currency translation	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-122.00K	USD	1 Quarter
Effect of foreign currency translation	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-1.59M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$14.15M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$45.79M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$224.25M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$320.31M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$274.52M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$210.10M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$224.25M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$320.31M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$274.52M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$210.10M	USD	Point-in-time
Interest paid	`InterestPaid`	$4.53M	USD	1 Quarter
Interest paid	`InterestPaid`	$5.50M	USD	1 Quarter
Income taxes paid, net of refunds	`IncomeTaxesPaid`	$4.17M	USD	1 Quarter
Income taxes paid, net of refunds	`IncomeTaxesPaid`	$6.05M	USD	1 Quarter

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Net income (Loss), Including Portion Attributable to Noncontrolling Interest	`ProfitLoss`	$77.56M	USD	1 Quarter
Net income (Loss), Including Portion Attributable to Noncontrolling Interest	`ProfitLoss`	$114.08M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-1.48M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-7.72M	USD	1 Quarter
Comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$76.08M	USD	1 Quarter
Comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$106.36M	USD	1 Quarter
Comprehensive income attributable to noncontrolling interest	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToNoncontrollingInterest`	-	USD	1 Quarter
Comprehensive income attributable to noncontrolling interest	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToNoncontrollingInterest`	$45.00K	USD	1 Quarter
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	`ComprehensiveIncomeNetOfTax`	$106.36M	USD	1 Quarter
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	`ComprehensiveIncomeNetOfTax`	$76.03M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.