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Consolidated Statements Of Cash Flows
$ in Thousands
12 Months Ended
Feb. 29, 2020
USD ($)
Feb. 28, 2019
USD ($)
Feb. 28, 2018
USD ($)
OPERATING ACTIVITIES:      
Net earnings $ 888,433 $ 842,413 $ 664,112
Adjustments to reconcile net earnings to net cash (used in) provided by operating activities:      
Depreciation and amortization 215,811 182,247 179,942
Share-based compensation expense 108,861 75,011 61,879
Provision for loan losses 185,695 153,848 137,591
Provision for cancellation reserves 89,272 63,937 62,749
Deferred income tax (benefit) provision (1,102) 2,300 81,007
Other 3,507 2,825 1,298
Net (increase) decrease in:      
Accounts receivable, net (51,240) (6,529) 19,067
Inventory (326,961) (128,761) (130,131)
Other current assets (19,843) 32,890 (34,620)
Auto loans receivable, net (1,308,919) (1,046,631) (1,077,219)
Other assets 4,265 (7,230) (2,361)
Net increase (decrease) in:      
Accounts payable, accrued expenses and other current liabilities and accrued income taxes 85,442 86,360 38,286
Other liabilities (109,827) (89,709) (82,150)
Net Cash Provided by (Used in) Operating Activities (236,606) 162,971 (80,550)
INVESTING ACTIVITIES:      
Capital expenditures (331,896) (304,636) (296,816)
Proceeds from disposal of property and equipment 3 692 97
Purchases of investments (59,050) (6,147) (6,836)
Sales of investments 1,579 1,578 1,692
Net Cash Provided by (Used in) Investing Activities (389,364) (308,513) (301,863)
FINANCING ACTIVITIES:      
(Decrease) increase in short-term debt, net (1,089) 1,002 65
Proceeds from issuances of long-term debt 6,277,600 4,314,500 4,203,150
Payments on long-term debt (6,199,793) (4,155,718) (4,169,124)
Cash paid for debt issuance costs (20,102) (17,063) (16,261)
Finance Lease, Principal Payments (4,151) (894) (523)
Issuances of non-recourse notes payable 11,786,432 10,892,502 10,198,962
Payments on non-recourse notes payable (10,708,564) (10,001,712) (9,296,773)
Repurchase and retirement of common stock (567,747) (904,726) (579,570)
Equity issuances 124,397 58,130 73,520
Net Cash Provided by (Used in) Financing Activities 686,983 186,021 413,446
Increase in cash, cash equivalents, and restricted cash 61,013 40,479 31,033
Cash, cash equivalents, and restricted cash at beginning of year 595,377 554,898 523,865
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF YEAR 656,390 595,377 554,898
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO THE CONSOLIDATED BALANCE SHEETS      
Cash and cash equivalents 58,211 46,938 44,525
Restricted cash from collections on auto loans receivable 481,043 440,669 399,442
Restricted cash included in other assets 117,136 107,770 110,931
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF YEAR $ 656,390 $ 595,377 $ 554,898