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Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
May 31, 2023
May 31, 2022
OPERATING ACTIVITIES:    
Net earnings $ 228,298 $ 252,265
Adjustments to reconcile net earnings to net cash (used in) provided by operating activities:    
Depreciation and amortization 62,998 70,473
Share-based compensation expense 36,384 22,443
Provision for loan losses 80,890 57,840
Provision for cancellation reserves 24,070 31,719
Deferred income tax (benefit) provision (7,127) 11,561
Other 2,976 5,342
Net (increase) decrease in:    
Accounts receivable, net (22,439) (49,603)
Inventory (355,078) 433,484
Other current assets 30,923 73,315
Auto loans receivable, net (483,964) (440,744)
Other assets 634 (15,154)
Net increase (decrease) in:    
Accounts payable, accrued expenses and other current liabilities and accrued income taxes 239,276 105,445
Other liabilities (23,126) (27,434)
Net Cash Provided by (Used in) Operating Activities (185,285) 530,952
INVESTING ACTIVITIES:    
Capital expenditures (136,719) (94,808)
Proceeds from disposal of property and equipment 1,171 0
Purchases of investments (1,228) (4,380)
Sales and returns of investments 17 150
Net Cash Provided by (Used in) Investing Activities (136,759) (99,038)
FINANCING ACTIVITIES:    
Proceeds from issuances of long-term debt 98,600 1,043,100
Payments on long-term debt (201,377) (1,629,024)
Cash paid for debt issuance costs (3,608) (3,940)
Payments on finance lease obligations (3,785) (2,925)
Issuances of non-recourse notes payable 3,125,929 3,569,605
Payments on non-recourse notes payable (2,706,222) (3,272,242)
Repurchase and retirement of common stock (3,931) (162,974)
Equity issuances 989 3,443
Net Cash Provided by (Used in) Financing Activities 306,595 (454,957)
Decrease in cash, cash equivalents, and restricted cash (15,449) (23,043)
Cash, cash equivalents, and restricted cash at beginning of year 951,004 803,618
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD 935,555 780,575
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO THE CONSOLIDATED BALANCE SHEETS:    
Cash and cash equivalents 264,247 95,313
Restricted cash from collections on auto loans receivable 506,465 531,344
Restricted cash included in other assets 164,843 153,918
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD $ 935,555 $ 780,575