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10-Q Filing

CARMAX INC CIK: 1170010 Q1 2015
Filing Information
Form Type 10-Q
Accession Number 0001170010-15-000014
Period End Date 20150531
Filing Date 20150708
Fiscal Year 2015
Fiscal Period Q1
XBRL Instance kmx-20150531.xml
Filing Contents
Balance Sheet 74 line items
Line Item Tag Value Unit Period
Common stock, par value CommonStockParOrStatedValuePerShare $0.50 USD Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare $0.50 USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 350.00M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $532.19M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $351.70M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $27.61M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $627.90M USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 350.00M shares Point-in-time
Restricted cash from collections on auto loan receivables RestrictedCashAndCashEquivalentsAtCarryingValue $328.05M USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 208.68M shares Point-in-time
Restricted cash from collections on auto loan receivables RestrictedCashAndCashEquivalentsAtCarryingValue $294.12M USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 208.87M shares Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $103.66M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $137.69M USD Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 208.87M shares Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 208.68M shares Point-in-time
Inventory InventoryNet $2.09B USD Point-in-time
Inventory InventoryNet $1.84B USD Point-in-time
Deferred income taxes DeferredTaxAssetsNetCurrent $8.10M USD Point-in-time
Deferred income taxes DeferredTaxAssetsNetCurrent $9.24M USD Point-in-time
Other current assets OtherAssetsCurrent $29.09M USD Point-in-time
Other current assets OtherAssetsCurrent $44.65M USD Point-in-time
TOTAL CURRENT ASSETS AssetsCurrent $2.67B USD Point-in-time
TOTAL CURRENT ASSETS AssetsCurrent $2.60B USD Point-in-time
Auto loan receivable, net NotesReceivableNet $8.44B USD Point-in-time
Auto loan receivable, net NotesReceivableNet $8.81B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $1.86B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $1.90B USD Point-in-time
Deferred income taxes DeferredTaxAssetsNetNoncurrent $167.64M USD Point-in-time
Deferred income taxes DeferredTaxAssetsNetNoncurrent $156.73M USD Point-in-time
Other assets OtherAssetsNoncurrent $133.48M USD Point-in-time
Other assets OtherAssetsNoncurrent $138.90M USD Point-in-time
TOTAL ASSETS Assets $13.20B USD Point-in-time
TOTAL ASSETS Assets $13.67B USD Point-in-time
Accounts payable AccountsPayableCurrent $454.81M USD Point-in-time
Accounts payable AccountsPayableCurrent $446.45M USD Point-in-time
Accrued expenses and other current liabilities AccruedLiabilitiesCurrent $250.31M USD Point-in-time
Accrued expenses and other current liabilities AccruedLiabilitiesCurrent $184.28M USD Point-in-time
Accrued income taxes AccruedIncomeTaxesCurrent $59.09M USD Point-in-time
Accrued income taxes AccruedIncomeTaxesCurrent $1.55M USD Point-in-time
Short-term debt ShortTermBankLoansAndNotesPayable $785.00K USD Point-in-time
Short-term debt ShortTermBankLoansAndNotesPayable $781.00K USD Point-in-time
Current portion of long-term debt OtherLongTermDebtCurrent - USD Point-in-time
Current portion of long-term debt OtherLongTermDebtCurrent $10.00M USD Point-in-time
Current portion of finance and capital lease obligations FinanceAndCapitalLeaseObligationsCurrent $21.55M USD Point-in-time
Current portion of finance and capital lease obligations FinanceAndCapitalLeaseObligationsCurrent $21.62M USD Point-in-time
Current portion of non-recourse notes payable NonRecourseDebtCurrent $287.35M USD Point-in-time
Current portion of non-recourse notes payable NonRecourseDebtCurrent $258.16M USD Point-in-time
TOTAL CURRENT LIABILITIES LiabilitiesCurrent $997.17M USD Point-in-time
TOTAL CURRENT LIABILITIES LiabilitiesCurrent $999.57M USD Point-in-time
Long-term debt, excluding current portion OtherLongTermDebtNoncurrent $300.00M USD Point-in-time
Long-term debt, excluding current portion OtherLongTermDebtNoncurrent $300.00M USD Point-in-time
Finance and capital lease obligations, excluding current portion FinanceAndCapitalLeaseObligationsNoncurrent $306.28M USD Point-in-time
Finance and capital lease obligations, excluding current portion FinanceAndCapitalLeaseObligationsNoncurrent $301.48M USD Point-in-time
Non-recourse notes payable, excluding current portion NonRecourseDebtNonCurrent $8.57B USD Point-in-time
Non-recourse notes payable, excluding current portion NonRecourseDebtNonCurrent $8.21B USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $225.49M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $220.19M USD Point-in-time
TOTAL LIABILITIES Liabilities $10.04B USD Point-in-time
TOTAL LIABILITIES Liabilities $10.40B USD Point-in-time
Commitments and contingent liabilities CommitmentsAndContingencies - USD Point-in-time
Commitments and contingent liabilities CommitmentsAndContingencies - USD Point-in-time
Common stock, $0.50 par value; 350,000,000 shares authorized; 208,682,123 and 208,869,688 shares issued and outstanding as of February 28, 2015 and February 28, 2014, respectively CommonStockValue $104.44M USD Point-in-time
Common stock, $0.50 par value; 350,000,000 shares authorized; 208,682,123 and 208,869,688 shares issued and outstanding as of February 28, 2015 and February 28, 2014, respectively CommonStockValue $104.34M USD Point-in-time
Capital in excess of par value AdditionalPaidInCapital $1.17B USD Point-in-time
Capital in excess of par value AdditionalPaidInCapital $1.12B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-66.46M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-65.39M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.99B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $2.07B USD Point-in-time
TOTAL SHAREHOLDERS' EQUITY StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.27B USD Point-in-time
TOTAL SHAREHOLDERS' EQUITY StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.16B USD Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY LiabilitiesAndStockholdersEquity $13.67B USD Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY LiabilitiesAndStockholdersEquity $13.20B USD Point-in-time
Income Statement 28 line items
Line Item Tag Value Unit Period
NET SALES AND OPERATING REVENUES SalesRevenueNet $3.75B USD 1 Quarter
NET SALES AND OPERATING REVENUES SalesRevenueNet $4.01B USD 1 Quarter
Cost of sales CostOfRevenue $3.25B USD 1 Quarter
Cost of sales CostOfRevenue $3.47B USD 1 Quarter
GROSS PROFIT GrossProfit $501.73M USD 1 Quarter
GROSS PROFIT GrossProfit $543.79M USD 1 Quarter
CARMAX AUTO FINANCE INCOME NetIncomeLossFromFinancing $109.11M USD 1 Quarter
CARMAX AUTO FINANCE INCOME NetIncomeLossFromFinancing $94.61M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $313.45M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $349.78M USD 1 Quarter
Interest expense InterestExpense $7.60M USD 1 Quarter
Interest expense InterestExpense $7.10M USD 1 Quarter
Other expense NonoperatingIncomeExpense $-277.00K USD 1 Quarter
Other expense NonoperatingIncomeExpense $-41.00K USD 1 Quarter
Earnings before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $275.02M USD 1 Quarter
Earnings before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $295.98M USD 1 Quarter
Income tax provision IncomeTaxExpenseBenefit $105.37M USD 1 Quarter
Income tax provision IncomeTaxExpenseBenefit $114.00M USD 1 Quarter
NET EARNINGS NetIncomeLoss $169.65M USD 1 Quarter
NET EARNINGS NetIncomeLoss $181.97M USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 220.27M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 208.70M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 211.65M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 223.63M shares 1 Quarter
Basic EarningsPerShareBasic $0.77 USD 1 Quarter
Basic EarningsPerShareBasic $0.87 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.76 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.86 USD 1 Quarter
Cash Flow Statement 86 line items
Line Item Tag Value Unit Period
Net earnings NetIncomeLoss $169.65M USD 1 Quarter
Net earnings NetIncomeLoss $181.97M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $27.34M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $32.07M USD 1 Quarter
Share-based compensation expense ShareBasedCompensation $23.41M USD 1 Quarter
Share-based compensation expense ShareBasedCompensation $15.39M USD 1 Quarter
Provision for loan losses ProvisionForLoanAndLeaseLosses $15.85M USD 1 Quarter
Provision for loan losses ProvisionForLoanAndLeaseLosses $13.60M USD 1 Quarter
Provision for cancellation reserves ProvisionForContractCancellationReserves $21.12M USD 1 Quarter
Provision for cancellation reserves ProvisionForContractCancellationReserves $20.33M USD 1 Quarter
Deferred income tax (benefit) provision DeferredIncomeTaxExpenseBenefit $10.47M USD 1 Quarter
Deferred income tax (benefit) provision DeferredIncomeTaxExpenseBenefit $771.00K USD 1 Quarter
Loss (gain) on disposition of assets and other GainLossOnDispositionOfAssets $-77.00K USD 1 Quarter
Loss (gain) on disposition of assets and other GainLossOnDispositionOfAssets $-424.00K USD 1 Quarter
Accounts receivable, net IncreaseDecreaseInAccountsReceivable $17.89M USD 1 Quarter
Accounts receivable, net IncreaseDecreaseInAccountsReceivable $-34.03M USD 1 Quarter
Inventory IncreaseDecreaseInInventories $-242.80M USD 1 Quarter
Inventory IncreaseDecreaseInInventories $40.38M USD 1 Quarter
Other current assets IncreaseDecreaseInOtherCurrentAssets $-664.00K USD 1 Quarter
Other current assets IncreaseDecreaseInOtherCurrentAssets $-14.42M USD 1 Quarter
Auto loan receivables, net IncreaseDecreaseInFinanceReceivables $390.98M USD 1 Quarter
Auto loan receivables, net IncreaseDecreaseInFinanceReceivables $415.66M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $-57.00K USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $-3.47M USD 1 Quarter
Accounts payable, accrued expenses and other current liabilities and accrued income taxes IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-31.04M USD 1 Quarter
Accounts payable, accrued expenses and other current liabilities and accrued income taxes IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $40.42M USD 1 Quarter
Other liabilities IncreaseDecreaseInOtherOperatingLiabilities $-33.66M USD 1 Quarter
Other liabilities IncreaseDecreaseInOtherOperatingLiabilities $-30.25M USD 1 Quarter
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $-209.08M USD 1 Quarter
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $117.55M USD 1 Quarter
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $59.44M USD 1 Quarter
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $53.71M USD 1 Quarter
Proceeds from sales of assets ProceedsFromSaleOfPropertyPlantAndEquipment $1.42M USD 1 Quarter
Proceeds from sales of assets ProceedsFromSaleOfPropertyPlantAndEquipment - USD 1 Quarter
Increase in restricted cash from collections on auto loan receivables IncreaseDecreaseInRestrictedCash $31.35M USD 1 Quarter
Increase in restricted cash from collections on auto loan receivables IncreaseDecreaseInRestrictedCash $33.93M USD 1 Quarter
Increase in restricted cash in reserve accounts IncreaseInRestrictedCashForReserveAccounts $-3.26M USD 1 Quarter
Increase in restricted cash in reserve accounts IncreaseInRestrictedCashForReserveAccounts $-2.97M USD 1 Quarter
Release of restricted cash from reserve accounts ReleasesOfRestrictedCashFromReserveAccounts $1.63M USD 1 Quarter
Release of restricted cash from reserve accounts ReleasesOfRestrictedCashFromReserveAccounts $4.00K USD 1 Quarter
(Purchases) sales of money market securities, net PaymentsForProceedsFromShortTermInvestments $-82.00K USD 1 Quarter
(Purchases) sales of money market securities, net PaymentsForProceedsFromShortTermInvestments $3.04M USD 1 Quarter
Purchases of Trading Securities PurchasesOfTradingSecurities $3.94M USD 1 Quarter
Purchases of Trading Securities PurchasesOfTradingSecurities $2.80M USD 1 Quarter
Proceeds from Sale of Trading Securities ProceedsFromSaleOfTradingSecurities $72.00K USD 1 Quarter
Proceeds from Sale of Trading Securities ProceedsFromSaleOfTradingSecurities $32.00K USD 1 Quarter
NET CASH USED IN INVESTING ACTIVITIES NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-97.08M USD 1 Quarter
NET CASH USED IN INVESTING ACTIVITIES NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-94.12M USD 1 Quarter
Increase (decrease) in short-term debt, net ProceedsFromRepaymentsOfShortTermDebt $-4.00K USD 1 Quarter
Increase (decrease) in short-term debt, net ProceedsFromRepaymentsOfShortTermDebt $660.00K USD 1 Quarter
Proceeds from Revolving Line of Credit and Long-Term Debt ProceedsFromRevolvingLineOfCreditAndLongTermDebt - USD 1 Quarter
Proceeds from Revolving Line of Credit and Long-Term Debt ProceedsFromRevolvingLineOfCreditAndLongTermDebt $20.00M USD 1 Quarter
Payments on Revolving Line of Credit and Long-Term Debt PaymentsOnRevolvingLineOfCreditAndLongTermDebt - USD 1 Quarter
Payments on Revolving Line of Credit and Long-Term Debt PaymentsOnRevolvingLineOfCreditAndLongTermDebt $30.00M USD 1 Quarter
Payments on finance and capital lease obligations RepaymentsOfLongTermFinanceAndCapitalLeaseObligations $4.20M USD 1 Quarter
Payments on finance and capital lease obligations RepaymentsOfLongTermFinanceAndCapitalLeaseObligations $4.65M USD 1 Quarter
Issuance of non-recourse notes payable ProceedsFromIssuanceOfNonRecourseDebt $3.05B USD 1 Quarter
Issuance of non-recourse notes payable ProceedsFromIssuanceOfNonRecourseDebt $1.90B USD 1 Quarter
Payments on non-recourse notes payable PaymentsOnNonRecourseDebt $1.52B USD 1 Quarter
Payments on non-recourse notes payable PaymentsOnNonRecourseDebt $2.66B USD 1 Quarter
Repurchase and retirement of common stock PaymentsForRepurchaseOfCommonStock $171.92M USD 1 Quarter
Repurchase and retirement of common stock PaymentsForRepurchaseOfCommonStock $117.63M USD 1 Quarter
Equity issuances, net ProceedsFromIssuanceOrSaleOfEquity $120.00K USD 1 Quarter
Equity issuances, net ProceedsFromIssuanceOrSaleOfEquity $17.73M USD 1 Quarter
Excess tax benefits from share-based payment arrangements ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $26.68M USD 1 Quarter
Excess tax benefits from share-based payment arrangements ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $4.31M USD 1 Quarter
NET CASH PROVIDED BY FINANCING ACTIVITIES NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $303.62M USD 1 Quarter
NET CASH PROVIDED BY FINANCING ACTIVITIES NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $207.49M USD 1 Quarter
(Decrease) Increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $324.09M USD 1 Quarter
(Decrease) Increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-95.71M USD 1 Quarter
Cash and cash equivalents at beginning of year CashAndCashEquivalentsAtCarryingValue $532.19M USD Point-in-time
Cash and cash equivalents at beginning of year CashAndCashEquivalentsAtCarryingValue $351.70M USD Point-in-time
Cash and cash equivalents at beginning of year CashAndCashEquivalentsAtCarryingValue $27.61M USD Point-in-time
Cash and cash equivalents at beginning of year CashAndCashEquivalentsAtCarryingValue $627.90M USD Point-in-time
CASH AND CASH EQUIVALENTS AT END OF PERIOD CashAndCashEquivalentsAtCarryingValue $532.19M USD Point-in-time
CASH AND CASH EQUIVALENTS AT END OF PERIOD CashAndCashEquivalentsAtCarryingValue $351.70M USD Point-in-time
CASH AND CASH EQUIVALENTS AT END OF PERIOD CashAndCashEquivalentsAtCarryingValue $27.61M USD Point-in-time
CASH AND CASH EQUIVALENTS AT END OF PERIOD CashAndCashEquivalentsAtCarryingValue $627.90M USD Point-in-time
Cash paid for interest InterestPaid $7.64M USD 1 Quarter
Cash paid for interest InterestPaid $9.98M USD 1 Quarter
Cash paid for income taxes IncomeTaxesPaid $5.80M USD 1 Quarter
Cash paid for income taxes IncomeTaxesPaid $813.00K USD 1 Quarter
Increase (decrease) in accrued capital expenditures CapitalExpendituresIncurredButNotYetPaid $10.34M USD 1 Quarter
Increase (decrease) in accrued capital expenditures CapitalExpendituresIncurredButNotYetPaid $5.82M USD 1 Quarter
Increase in finance and capital lease obligations CapitalLeaseObligationsIncurred - USD 1 Quarter
Increase in finance and capital lease obligations CapitalLeaseObligationsIncurred $5.30M USD 1 Quarter
Comprehensive Income 10 line items
Line Item Tag Value Unit Period
Net earnings NetIncomeLoss $169.65M USD 1 Quarter
Net earnings NetIncomeLoss $181.97M USD 1 Quarter
Net change in retirement benefit plan unrecognized actuarial losses OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent $-306.00K USD 1 Quarter
Net change in retirement benefit plan unrecognized actuarial losses OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent $-213.00K USD 1 Quarter
Net change in cash flow hedge unrecognized losses OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent $282.00K USD 1 Quarter
Net change in cash flow hedge unrecognized losses OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent $-1.37M USD 1 Quarter
Other comprehensive income (loss), net of taxes OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-1.07M USD 1 Quarter
Other comprehensive income (loss), net of taxes OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $495.00K USD 1 Quarter
TOTAL COMPREHENSIVE INCOME ComprehensiveIncomeNetOfTax $180.91M USD 1 Quarter
TOTAL COMPREHENSIVE INCOME ComprehensiveIncomeNetOfTax $170.15M USD 1 Quarter

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

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