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10-Q Filing

CARMAX INC CIK: 1170010 Q1 2016
Filing Information
Form Type 10-Q
Accession Number 0001170010-16-000170
Period End Date 20160531
Filing Date 20160707
Fiscal Year 2016
Fiscal Period Q1
XBRL Instance kmx-20160531.xml
Filing Contents
Balance Sheet 70 line items
Line Item Tag Value Unit Period
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.50 USD Point-in-time
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.50 USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 350.00M shares Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 350.00M shares Point-in-time
Common stock, shares issued CommonStockSharesIssued 192.50M shares Point-in-time
Common stock, shares issued CommonStockSharesIssued 194.71M shares Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 194.71M shares Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 192.50M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $351.70M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $52.58M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $37.39M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $27.61M USD Point-in-time
Restricted cash from collections on auto loan receivables RestrictedCashAndCashEquivalentsAtCarryingValue $364.16M USD Point-in-time
Restricted cash from collections on auto loan receivables RestrictedCashAndCashEquivalentsAtCarryingValue $343.83M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $102.54M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $132.17M USD Point-in-time
Inventory InventoryNet $1.86B USD Point-in-time
Inventory InventoryNet $1.93B USD Point-in-time
Other current assets OtherAssetsCurrent $26.36M USD Point-in-time
Other current assets OtherAssetsCurrent $32.32M USD Point-in-time
TOTAL CURRENT ASSETS AssetsCurrent $2.47B USD Point-in-time
TOTAL CURRENT ASSETS AssetsCurrent $2.42B USD Point-in-time
Auto loan receivables, net NotesReceivableNet $9.85B USD Point-in-time
Auto loan receivables, net NotesReceivableNet $9.54B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $2.23B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $2.16B USD Point-in-time
Deferred income taxes DeferredTaxAssetsNetNoncurrent $161.86M USD Point-in-time
Deferred income taxes DeferredTaxAssetsNetNoncurrent $152.33M USD Point-in-time
Other assets OtherAssetsNoncurrent $127.68M USD Point-in-time
Other assets OtherAssetsNoncurrent $133.27M USD Point-in-time
TOTAL ASSETS Assets $14.79B USD Point-in-time
TOTAL ASSETS Assets $14.46B USD Point-in-time
Accounts payable AccountsPayableCurrent $454.52M USD Point-in-time
Accounts payable AccountsPayableCurrent $441.75M USD Point-in-time
Accrued expenses and other current liabilities AccruedLiabilitiesCurrent $245.91M USD Point-in-time
Accrued expenses and other current liabilities AccruedLiabilitiesCurrent $205.43M USD Point-in-time
Accrued income taxes AccruedIncomeTaxesCurrent $2.03M USD Point-in-time
Accrued income taxes AccruedIncomeTaxesCurrent $89.99M USD Point-in-time
Short-term debt ShortTermBankLoansAndNotesPayable $1.25M USD Point-in-time
Short-term debt ShortTermBankLoansAndNotesPayable $428.00K USD Point-in-time
Current portion of finance and capital lease obligations FinanceAndCapitalLeaseObligationsCurrent $14.33M USD Point-in-time
Current portion of finance and capital lease obligations FinanceAndCapitalLeaseObligationsCurrent $12.41M USD Point-in-time
Current portion of non-recourse notes payable NonRecourseDebtCurrent $300.75M USD Point-in-time
Current portion of non-recourse notes payable NonRecourseDebtCurrent $319.77M USD Point-in-time
TOTAL CURRENT LIABILITIES LiabilitiesCurrent $1.01B USD Point-in-time
TOTAL CURRENT LIABILITIES LiabilitiesCurrent $1.08B USD Point-in-time
Long-term debt, excluding current portion OtherLongTermDebtNoncurrent $713.91M USD Point-in-time
Long-term debt, excluding current portion OtherLongTermDebtNoncurrent $597.28M USD Point-in-time
Finance and capital lease obligations, excluding current portion FinanceAndCapitalLeaseObligationsNoncurrent $419.88M USD Point-in-time
Finance and capital lease obligations, excluding current portion FinanceAndCapitalLeaseObligationsNoncurrent $400.32M USD Point-in-time
Non-recourse notes payable, excluding current portion NonRecourseDebtNonCurrent $9.21B USD Point-in-time
Non-recourse notes payable, excluding current portion NonRecourseDebtNonCurrent $9.49B USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $222.94M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $229.27M USD Point-in-time
TOTAL LIABILITIES Liabilities $11.82B USD Point-in-time
TOTAL LIABILITIES Liabilities $11.56B 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; 192,495,265 and 194,712,234 shares issued and outstanding as of May 31, 2016 and February 29, 2016, respectively CommonStockValue $97.36M USD Point-in-time
Common stock, $0.50 par value; 350,000,000 shares authorized; 192,495,265 and 194,712,234 shares issued and outstanding as of May 31, 2016 and February 29, 2016, respectively CommonStockValue $96.25M USD Point-in-time
Capital in excess of par value AdditionalPaidInCapital $1.13B USD Point-in-time
Capital in excess of par value AdditionalPaidInCapital $1.14B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-66.83M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-70.20M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.75B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.81B USD Point-in-time
TOTAL SHAREHOLDERS EQUITY StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.97B USD Point-in-time
TOTAL SHAREHOLDERS EQUITY StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.90B USD Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY LiabilitiesAndStockholdersEquity $14.46B USD Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY LiabilitiesAndStockholdersEquity $14.79B USD Point-in-time
Income Statement 34 line items
Line Item Tag Value Unit Period
Used vehicle sales UsedVehicleSalesRevenue $3.29B USD 1 Quarter
Used vehicle sales UsedVehicleSalesRevenue $3.43B USD 1 Quarter
Wholesale vehicle sales WholesaleVehicleSalesRevenue $567.74M USD 1 Quarter
Wholesale vehicle sales WholesaleVehicleSalesRevenue $576.62M USD 1 Quarter
Other sales and revenues OtherSalesRevenueNet $129.67M USD 1 Quarter
Other sales and revenues OtherSalesRevenueNet $145.60M USD 1 Quarter
NET SALES AND OPERATING REVENUES SalesRevenueNet $4.13B USD 1 Quarter
NET SALES AND OPERATING REVENUES SalesRevenueNet $4.01B USD 1 Quarter
Cost of sales CostOfRevenue $3.47B USD 1 Quarter
Cost of sales CostOfRevenue $3.55B USD 1 Quarter
GROSS PROFIT GrossProfit $543.79M USD 1 Quarter
GROSS PROFIT GrossProfit $572.64M USD 1 Quarter
CARMAX AUTO FINANCE INCOME NetIncomeLossFromFinancing $109.11M USD 1 Quarter
CARMAX AUTO FINANCE INCOME NetIncomeLossFromFinancing $100.76M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $349.78M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $380.23M USD 1 Quarter
Interest expense InterestExpense $7.10M USD 1 Quarter
Interest expense InterestExpense $11.09M USD 1 Quarter
Other (income) expense NonoperatingIncomeExpense $-41.00K USD 1 Quarter
Other (income) expense NonoperatingIncomeExpense $616.00K USD 1 Quarter
Earnings before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $295.98M USD 1 Quarter
Earnings before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $282.69M USD 1 Quarter
Income tax provision IncomeTaxExpenseBenefit $114.00M USD 1 Quarter
Income tax provision IncomeTaxExpenseBenefit $107.33M USD 1 Quarter
NET EARNINGS NetIncomeLoss $175.36M USD 1 Quarter
NET EARNINGS NetIncomeLoss $181.97M USD 1 Quarter
Basic, shares WeightedAverageNumberOfSharesOutstandingBasic 208.70M shares 1 Quarter
Basic, shares WeightedAverageNumberOfSharesOutstandingBasic 193.53M shares 1 Quarter
Diluted, shares WeightedAverageNumberOfDilutedSharesOutstanding 211.65M shares 1 Quarter
Diluted, shares WeightedAverageNumberOfDilutedSharesOutstanding 195.25M shares 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.91 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.87 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.86 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.90 USD 1 Quarter
Cash Flow Statement 80 line items
Line Item Tag Value Unit Period
Net earnings NetIncomeLoss $175.36M USD 1 Quarter
Net earnings NetIncomeLoss $181.97M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $40.80M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $32.07M USD 1 Quarter
Share-based compensation expense ShareBasedCompensation $31.44M USD 1 Quarter
Share-based compensation expense ShareBasedCompensation $23.41M USD 1 Quarter
Provision for loan losses ProvisionForLoanAndLeaseLosses $26.59M USD 1 Quarter
Provision for loan losses ProvisionForLoanAndLeaseLosses $13.60M USD 1 Quarter
Provision for cancellation reserves ProvisionForContractCancellationReserves $18.69M USD 1 Quarter
Provision for cancellation reserves ProvisionForContractCancellationReserves $20.33M USD 1 Quarter
Deferred income tax provision DeferredIncomeTaxExpenseBenefit $7.37M USD 1 Quarter
Deferred income tax provision DeferredIncomeTaxExpenseBenefit $10.47M USD 1 Quarter
Other GainLossOnDispositionOfAssets $-77.00K USD 1 Quarter
Other GainLossOnDispositionOfAssets $-268.00K USD 1 Quarter
Accounts receivable, net IncreaseDecreaseInAccountsReceivable $-29.63M USD 1 Quarter
Accounts receivable, net IncreaseDecreaseInAccountsReceivable $-34.03M USD 1 Quarter
Inventory IncreaseDecreaseInInventories $-67.04M USD 1 Quarter
Inventory IncreaseDecreaseInInventories $-242.80M USD 1 Quarter
Other current assets IncreaseDecreaseInOtherCurrentAssets $4.03M USD 1 Quarter
Other current assets IncreaseDecreaseInOtherCurrentAssets $-14.42M USD 1 Quarter
Auto loan receivables, net IncreaseDecreaseInFinanceReceivables $343.07M USD 1 Quarter
Auto loan receivables, net IncreaseDecreaseInFinanceReceivables $390.98M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $-399.00K USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $-57.00K 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 $66.87M USD 1 Quarter
Other liabilities IncreaseDecreaseInOtherOperatingLiabilities $-33.66M USD 1 Quarter
Other liabilities IncreaseDecreaseInOtherOperatingLiabilities $-32.00M USD 1 Quarter
NET CASH PROVIDED BY OPERATING ACTIVITIES NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $117.55M USD 1 Quarter
NET CASH PROVIDED BY OPERATING ACTIVITIES NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $85.36M USD 1 Quarter
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $97.46M USD 1 Quarter
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $59.44M USD 1 Quarter
Proceeds from sales of assets ProceedsFromSaleOfPropertyPlantAndEquipment - USD 1 Quarter
Proceeds from sales of assets ProceedsFromSaleOfPropertyPlantAndEquipment $1.42M USD 1 Quarter
Increase in restricted cash from collections on auto loan receivables IncreaseDecreaseInRestrictedCash $33.93M USD 1 Quarter
Increase in restricted cash from collections on auto loan receivables IncreaseDecreaseInRestrictedCash $20.33M USD 1 Quarter
Increase in restricted cash in reserve accounts IncreaseInRestrictedCashForReserveAccounts $2.97M USD 1 Quarter
Increase in restricted cash in reserve accounts IncreaseInRestrictedCashForReserveAccounts $3.10M USD 1 Quarter
Release of restricted cash from reserve accounts ReleasesOfRestrictedCashFromReserveAccounts $41.00K USD 1 Quarter
Release of restricted cash from reserve accounts ReleasesOfRestrictedCashFromReserveAccounts $1.63M USD 1 Quarter
Purchases of money market securities, net PaymentsForProceedsFromShortTermInvestments $-82.00K USD 1 Quarter
Purchases of money market securities, net PaymentsForProceedsFromShortTermInvestments $289.00K USD 1 Quarter
Purchases of trading securities PurchasesOfTradingSecurities $3.94M USD 1 Quarter
Purchases of trading securities PurchasesOfTradingSecurities $2.35M USD 1 Quarter
Sales of trading securities ProceedsFromSaleOfTradingSecurities $244.00K USD 1 Quarter
Sales of trading securities ProceedsFromSaleOfTradingSecurities $72.00K USD 1 Quarter
NET CASH USED IN INVESTING ACTIVITIES NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-97.08M USD 1 Quarter
NET CASH USED IN INVESTING ACTIVITIES NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-123.25M USD 1 Quarter
Increase (decrease) in short-term debt, net ProceedsFromRepaymentsOfShortTermDebt $-4.00K USD 1 Quarter
Increase (decrease) in short-term debt, net ProceedsFromRepaymentsOfShortTermDebt $827.00K USD 1 Quarter
Proceeds from issuances of long-term debt ProceedsFromRevolvingLineOfCreditAndLongTermDebt $20.00M USD 1 Quarter
Proceeds from issuances of long-term debt ProceedsFromRevolvingLineOfCreditAndLongTermDebt $1.09B USD 1 Quarter
Payments on long-term debt PaymentsOnRevolvingLineOfCreditAndLongTermDebt $30.00M USD 1 Quarter
Payments on long-term debt PaymentsOnRevolvingLineOfCreditAndLongTermDebt $1.21B USD 1 Quarter
Cash paid for debt issuance costs PaymentsOfDebtIssuanceCosts $4.68M USD 1 Quarter
Cash paid for debt issuance costs PaymentsOfDebtIssuanceCosts - USD 1 Quarter
Payments on finance and capital lease obligations RepaymentsOfLongTermFinanceAndCapitalLeaseObligations $3.04M USD 1 Quarter
Payments on finance and capital lease obligations RepaymentsOfLongTermFinanceAndCapitalLeaseObligations $4.65M USD 1 Quarter
Issuances of non-recourse notes payable ProceedsFromIssuanceOfNonRecourseDebt $2.26B USD 1 Quarter
Issuances of non-recourse notes payable ProceedsFromIssuanceOfNonRecourseDebt $3.05B USD 1 Quarter
Payments on non-recourse notes payable PaymentsOnNonRecourseDebt $2.66B USD 1 Quarter
Payments on non-recourse notes payable PaymentsOnNonRecourseDebt $1.95B USD 1 Quarter
Repurchase and retirement of common stock PaymentsForRepurchaseOfCommonStock $137.99M USD 1 Quarter
Repurchase and retirement of common stock PaymentsForRepurchaseOfCommonStock $134.23M USD 1 Quarter
Equity issuances ProceedsFromIssuanceOrSaleOfEquity $34.32M USD 1 Quarter
Equity issuances ProceedsFromIssuanceOrSaleOfEquity $4.13M 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 $2.24M USD 1 Quarter
NET CASH PROVIDED BY FINANCING ACTIVITIES NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $303.62M USD 1 Quarter
NET CASH PROVIDED BY FINANCING ACTIVITIES NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $53.07M USD 1 Quarter
Increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $324.09M USD 1 Quarter
Increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $15.18M USD 1 Quarter
Cash and cash equivalents at beginning of year CashAndCashEquivalentsAtCarryingValue $351.70M USD Point-in-time
Cash and cash equivalents at beginning of year CashAndCashEquivalentsAtCarryingValue $52.58M USD Point-in-time
Cash and cash equivalents at beginning of year CashAndCashEquivalentsAtCarryingValue $37.39M USD Point-in-time
Cash and cash equivalents at beginning of year CashAndCashEquivalentsAtCarryingValue $27.61M 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 $52.58M USD Point-in-time
CASH AND CASH EQUIVALENTS AT END OF PERIOD CashAndCashEquivalentsAtCarryingValue $37.39M USD Point-in-time
CASH AND CASH EQUIVALENTS AT END OF PERIOD CashAndCashEquivalentsAtCarryingValue $27.61M USD Point-in-time
Comprehensive Income 10 line items
Line Item Tag Value Unit Period
NET EARNINGS NetIncomeLoss $175.36M USD 1 Quarter
NET EARNINGS NetIncomeLoss $181.97M USD 1 Quarter
Net change in retirement benefit plan unrecognized actuarial losses OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent $-249.00K USD 1 Quarter
Net change in retirement benefit plan unrecognized actuarial losses OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent $-306.00K USD 1 Quarter
Net change in cash flow hedge unrecognized losses OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent $-1.37M USD 1 Quarter
Net change in cash flow hedge unrecognized losses OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent $3.12M USD 1 Quarter
Other comprehensive income (loss), net of taxes OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-1.07M USD 1 Quarter
Other comprehensive income (loss), net of taxes OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $3.37M USD 1 Quarter
TOTAL COMPREHENSIVE INCOME ComprehensiveIncomeNetOfTax $180.91M USD 1 Quarter
TOTAL COMPREHENSIVE INCOME ComprehensiveIncomeNetOfTax $178.73M USD 1 Quarter

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

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