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10-Q Filing

CARMAX INC CIK: 1170010 Q1 2017
Filing Information
Form Type 10-Q
Accession Number 0001170010-17-000121
Period End Date 20170531
Filing Date 20170707
Fiscal Year 2017
Fiscal Period Q1
XBRL Instance kmx-20170531.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
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $60.08M USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 186.55M shares Point-in-time
Common stock, shares issued CommonStockSharesIssued 183.87M shares 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 $38.42M USD Point-in-time
Restricted cash from collections on auto loan receivables RestrictedCashAndCashEquivalentsAtCarryingValue $380.35M USD Point-in-time
Restricted cash from collections on auto loan receivables RestrictedCashAndCashEquivalentsAtCarryingValue $385.69M USD Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 183.87M shares Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 186.55M shares Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $104.75M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $152.39M USD Point-in-time
Inventory InventoryNet $2.15B USD Point-in-time
Inventory InventoryNet $2.26B USD Point-in-time
Other current assets OtherAssetsCurrent $35.78M USD Point-in-time
Other current assets OtherAssetsCurrent $41.91M USD Point-in-time
TOTAL CURRENT ASSETS AssetsCurrent $2.87B USD Point-in-time
TOTAL CURRENT ASSETS AssetsCurrent $2.73B USD Point-in-time
Auto loan receivables, net NotesReceivableNet $10.89B USD Point-in-time
Auto loan receivables, net NotesReceivableNet $10.60B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $2.52B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $2.56B USD Point-in-time
Deferred income taxes DeferredTaxAssetsNetNoncurrent $150.96M USD Point-in-time
Deferred income taxes DeferredTaxAssetsNetNoncurrent $145.26M USD Point-in-time
Other assets OtherAssetsNoncurrent $145.53M USD Point-in-time
Other assets OtherAssetsNoncurrent $140.29M USD Point-in-time
TOTAL ASSETS Assets $16.48B USD Point-in-time
TOTAL ASSETS Assets $16.28B USD Point-in-time
Accounts payable AccountsPayableCurrent $494.99M USD Point-in-time
Accounts payable AccountsPayableCurrent $510.57M USD Point-in-time
Accrued expenses and other current liabilities AccruedLiabilitiesCurrent $266.13M USD Point-in-time
Accrued expenses and other current liabilities AccruedLiabilitiesCurrent $203.21M USD Point-in-time
Accrued income taxes AccruedIncomeTaxesCurrent $1.40M USD Point-in-time
Accrued income taxes AccruedIncomeTaxesCurrent $103.59M USD Point-in-time
Short-term debt ShortTermBankLoansAndNotesPayable $62.00K USD Point-in-time
Short-term debt ShortTermBankLoansAndNotesPayable $693.00K USD Point-in-time
Current portion of finance and capital lease obligations FinanceAndCapitalLeaseObligationsCurrent $9.77M USD Point-in-time
Current portion of finance and capital lease obligations FinanceAndCapitalLeaseObligationsCurrent $9.49M USD Point-in-time
Current portion of non-recourse notes payable NonRecourseDebtCurrent $338.83M USD Point-in-time
Current portion of non-recourse notes payable NonRecourseDebtCurrent $333.71M USD Point-in-time
TOTAL CURRENT LIABILITIES LiabilitiesCurrent $1.11B USD Point-in-time
TOTAL CURRENT LIABILITIES LiabilitiesCurrent $1.17B USD Point-in-time
Long-term debt, excluding current portion OtherLongTermDebtNoncurrent $952.56M USD Point-in-time
Long-term debt, excluding current portion OtherLongTermDebtNoncurrent $797.67M USD Point-in-time
Finance and capital lease obligations, excluding current portion FinanceAndCapitalLeaseObligationsNoncurrent $486.64M USD Point-in-time
Finance and capital lease obligations, excluding current portion FinanceAndCapitalLeaseObligationsNoncurrent $484.39M USD Point-in-time
Non-recourse notes payable, excluding current portion NonRecourseDebtNonCurrent $10.64B USD Point-in-time
Non-recourse notes payable, excluding current portion NonRecourseDebtNonCurrent $10.39B USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $231.02M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $238.55M USD Point-in-time
TOTAL LIABILITIES Liabilities $13.17B USD Point-in-time
TOTAL LIABILITIES Liabilities $13.32B 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; 183,872,908 and 186,548,602 shares issued and outstanding as of May 31, 2017 and February 28, 2017, respectively CommonStockValue $93.27M USD Point-in-time
Common stock, $0.50 par value; 350,000,000 shares authorized; 183,872,908 and 186,548,602 shares issued and outstanding as of May 31, 2017 and February 28, 2017, respectively CommonStockValue $91.94M USD Point-in-time
Capital in excess of par value AdditionalPaidInCapital $1.19B USD Point-in-time
Capital in excess of par value AdditionalPaidInCapital $1.18B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-56.55M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-58.23M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.88B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.93B USD Point-in-time
TOTAL SHAREHOLDERS EQUITY StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.15B USD Point-in-time
TOTAL SHAREHOLDERS EQUITY StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.11B USD Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY LiabilitiesAndStockholdersEquity $16.48B USD Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY LiabilitiesAndStockholdersEquity $16.28B USD Point-in-time
Income Statement 34 line items
Line Item Tag Value Unit Period
Used vehicle sales UsedVehicleSalesRevenue $3.84B USD 1 Quarter
Used vehicle sales UsedVehicleSalesRevenue $3.43B USD 1 Quarter
Wholesale vehicle sales WholesaleVehicleSalesRevenue $553.39M USD 1 Quarter
Wholesale vehicle sales WholesaleVehicleSalesRevenue $567.74M USD 1 Quarter
Other sales and revenues OtherSalesRevenueNet $145.57M USD 1 Quarter
Other sales and revenues OtherSalesRevenueNet $129.67M USD 1 Quarter
NET SALES AND OPERATING REVENUES SalesRevenueNet $4.54B USD 1 Quarter
NET SALES AND OPERATING REVENUES SalesRevenueNet $4.13B USD 1 Quarter
Cost of sales CostOfRevenue $3.89B USD 1 Quarter
Cost of sales CostOfRevenue $3.55B USD 1 Quarter
GROSS PROFIT GrossProfit $648.94M USD 1 Quarter
GROSS PROFIT GrossProfit $572.64M USD 1 Quarter
CARMAX AUTO FINANCE INCOME NetIncomeLossFromFinancing $100.76M USD 1 Quarter
CARMAX AUTO FINANCE INCOME NetIncomeLossFromFinancing $109.36M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $380.23M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $403.50M USD 1 Quarter
Interest expense InterestExpense $11.09M USD 1 Quarter
Interest expense InterestExpense $16.84M USD 1 Quarter
Other (income) expense NonoperatingIncomeExpense $93.00K USD 1 Quarter
Other (income) expense NonoperatingIncomeExpense $616.00K USD 1 Quarter
Earnings before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $282.69M USD 1 Quarter
Earnings before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $338.05M USD 1 Quarter
Income tax provision IncomeTaxExpenseBenefit $107.33M USD 1 Quarter
Income tax provision IncomeTaxExpenseBenefit $126.35M USD 1 Quarter
NET EARNINGS NetIncomeLoss $175.36M USD 1 Quarter
NET EARNINGS NetIncomeLoss $211.70M USD 1 Quarter
Basic, shares WeightedAverageNumberOfSharesOutstandingBasic 193.53M shares 1 Quarter
Basic, shares WeightedAverageNumberOfSharesOutstandingBasic 185.20M shares 1 Quarter
Diluted, shares WeightedAverageNumberOfDilutedSharesOutstanding 186.86M shares 1 Quarter
Diluted, shares WeightedAverageNumberOfDilutedSharesOutstanding 195.25M shares 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $1.14 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.91 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.90 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $1.13 USD 1 Quarter
Cash Flow Statement 76 line items
Line Item Tag Value Unit Period
Net earnings NetIncomeLoss $175.36M USD 1 Quarter
Net earnings NetIncomeLoss $211.70M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $43.89M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $40.80M USD 1 Quarter
Share-based compensation expense ShareBasedCompensation $31.44M USD 1 Quarter
Share-based compensation expense ShareBasedCompensation $18.73M USD 1 Quarter
Provision for loan losses ProvisionForLoanAndLeaseLosses $28.58M USD 1 Quarter
Provision for loan losses ProvisionForLoanAndLeaseLosses $26.59M USD 1 Quarter
Provision for cancellation reserves ProvisionForContractCancellationReserves $17.11M USD 1 Quarter
Provision for cancellation reserves ProvisionForContractCancellationReserves $18.69M USD 1 Quarter
Deferred income tax provision DeferredIncomeTaxExpenseBenefit $7.37M USD 1 Quarter
Deferred income tax provision DeferredIncomeTaxExpenseBenefit $6.78M USD 1 Quarter
Other GainLossOnDispositionOfAssets $-268.00K USD 1 Quarter
Other GainLossOnDispositionOfAssets $-621.00K USD 1 Quarter
Accounts receivable, net IncreaseDecreaseInAccountsReceivable $-29.63M USD 1 Quarter
Accounts receivable, net IncreaseDecreaseInAccountsReceivable $-47.64M USD 1 Quarter
Inventory IncreaseDecreaseInInventories $-112.32M USD 1 Quarter
Inventory IncreaseDecreaseInInventories $-67.04M USD 1 Quarter
Other current assets IncreaseDecreaseInOtherCurrentAssets $-5.45M USD 1 Quarter
Other current assets IncreaseDecreaseInOtherCurrentAssets $4.03M USD 1 Quarter
Auto loan receivables, net IncreaseDecreaseInFinanceReceivables $325.35M USD 1 Quarter
Auto loan receivables, net IncreaseDecreaseInFinanceReceivables $343.07M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $-399.00K USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $-809.00K USD 1 Quarter
Accounts payable, accrued expenses and other current liabilities and accrued income taxes IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $52.67M USD 1 Quarter
Accounts payable, accrued expenses and other current liabilities and accrued income taxes IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $69.11M USD 1 Quarter
Other liabilities IncreaseDecreaseInOtherOperatingLiabilities $-29.47M USD 1 Quarter
Other liabilities IncreaseDecreaseInOtherOperatingLiabilities $-32.00M USD 1 Quarter
NET CASH PROVIDED BY OPERATING ACTIVITIES NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $87.61M USD 1 Quarter
NET CASH PROVIDED BY OPERATING ACTIVITIES NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $191.49M USD 1 Quarter
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $79.42M USD 1 Quarter
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $97.46M USD 1 Quarter
Increase in restricted cash from collections on auto loan receivables IncreaseDecreaseInRestrictedCash $5.34M 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 $3.10M USD 1 Quarter
Increase in restricted cash in reserve accounts IncreaseInRestrictedCashForReserveAccounts $6.31M USD 1 Quarter
Release of restricted cash from reserve accounts ReleasesOfRestrictedCashFromReserveAccounts $3.34M USD 1 Quarter
Release of restricted cash from reserve accounts ReleasesOfRestrictedCashFromReserveAccounts $41.00K USD 1 Quarter
Purchases of money market securities, net PaymentsForProceedsFromShortTermInvestments $289.00K USD 1 Quarter
Purchases of money market securities, net PaymentsForProceedsFromShortTermInvestments $1.82M USD 1 Quarter
Purchases of trading securities PurchasesOfTradingSecurities $2.35M USD 1 Quarter
Purchases of trading securities PurchasesOfTradingSecurities $1.05M USD 1 Quarter
Sales of trading securities ProceedsFromSaleOfTradingSecurities $238.00K USD 1 Quarter
Sales of trading securities ProceedsFromSaleOfTradingSecurities $244.00K USD 1 Quarter
NET CASH USED IN INVESTING ACTIVITIES NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-123.25M USD 1 Quarter
NET CASH USED IN INVESTING ACTIVITIES NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-90.36M USD 1 Quarter
Increase in short-term debt, net ProceedsFromRepaymentsOfShortTermDebt $827.00K USD 1 Quarter
Increase in short-term debt, net ProceedsFromRepaymentsOfShortTermDebt $631.00K USD 1 Quarter
Proceeds from issuances of long-term debt ProceedsFromRevolvingLineOfCreditAndLongTermDebt $1.09B USD 1 Quarter
Proceeds from issuances of long-term debt ProceedsFromRevolvingLineOfCreditAndLongTermDebt $762.00M USD 1 Quarter
Payments on long-term debt PaymentsOnRevolvingLineOfCreditAndLongTermDebt $1.21B USD 1 Quarter
Payments on long-term debt PaymentsOnRevolvingLineOfCreditAndLongTermDebt $917.00M USD 1 Quarter
Cash paid for debt issuance costs PaymentsOfDebtIssuanceCosts $4.68M USD 1 Quarter
Cash paid for debt issuance costs PaymentsOfDebtIssuanceCosts $2.92M USD 1 Quarter
Payments on finance and capital lease obligations RepaymentsOfLongTermFinanceAndCapitalLeaseObligations $2.27M USD 1 Quarter
Payments on finance and capital lease obligations RepaymentsOfLongTermFinanceAndCapitalLeaseObligations $3.04M USD 1 Quarter
Issuances of non-recourse notes payable ProceedsFromIssuanceOfNonRecourseDebt $2.26B USD 1 Quarter
Issuances of non-recourse notes payable ProceedsFromIssuanceOfNonRecourseDebt $2.41B USD 1 Quarter
Payments on non-recourse notes payable PaymentsOnNonRecourseDebt $2.15B USD 1 Quarter
Payments on non-recourse notes payable PaymentsOnNonRecourseDebt $1.95B USD 1 Quarter
Repurchase and retirement of common stock PaymentsForRepurchaseOfCommonStock $187.38M USD 1 Quarter
Repurchase and retirement of common stock PaymentsForRepurchaseOfCommonStock $137.99M USD 1 Quarter
Equity issuances ProceedsFromIssuanceOrSaleOfEquity $4.13M USD 1 Quarter
Equity issuances ProceedsFromIssuanceOrSaleOfEquity $6.61M USD 1 Quarter
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $50.82M USD 1 Quarter
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $-79.47M USD 1 Quarter
Increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $15.18M USD 1 Quarter
Increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $21.66M USD 1 Quarter
Cash and cash equivalents at beginning of year CashAndCashEquivalentsAtCarryingValue $60.08M 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 $38.42M USD Point-in-time
CASH AND CASH EQUIVALENTS AT END OF PERIOD CashAndCashEquivalentsAtCarryingValue $60.08M 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 $38.42M 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 $211.70M USD 1 Quarter
Net change in retirement benefit plan unrecognized actuarial losses OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent $-274.00K USD 1 Quarter
Net change in retirement benefit plan unrecognized actuarial losses OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent $-249.00K USD 1 Quarter
Net change in cash flow hedge unrecognized losses OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $-1.95M USD 1 Quarter
Net change in cash flow hedge unrecognized losses OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $3.12M USD 1 Quarter
Other comprehensive (loss) income, net of taxes OtherComprehensiveIncomeLossNetOfTax $-1.67M USD 1 Quarter
Other comprehensive (loss) income, net of taxes OtherComprehensiveIncomeLossNetOfTax $3.37M USD 1 Quarter
TOTAL COMPREHENSIVE INCOME ComprehensiveIncomeNetOfTax $210.03M 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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