| Feb'20 | Feb'19 | Feb'18 | Feb'17 | Feb'16 | Feb'15 | Feb'14 | Feb'13 | Feb'12 | Feb'11 | Feb'10 | Feb'09 |
|---|---|---|---|---|---|---|---|---|---|---|---|
OPERATING ACTIVITIES: | |||||||||||
Net earnings | |||||||||||
888,433 | 842,413 | 664,112 | 626,970 | 623,428 | 597,358 | 492,586 | 434,284 | 413,795 | 377,495 | 277,844 | 59,213 |
Adjustments to reconcile net earnings to net cash (used in) provided by operating activities: | |||||||||||
Depreciation and amortization | |||||||||||
215,811 | 182,247 | 179,942 | 168,875 | 137,360 | 115,173 | 101,911 | 95,283 | 82,812 | 76,321 | 75,228 | 54,741 |
Share-based compensation expense | |||||||||||
108,861 | 75,011 | 61,879 | 91,595 | 51,077 | 81,880 | 66,480 | 62,112 | 48,089 | 43,606 | 37,858 | 35,436 |
Provision for loan losses | |||||||||||
185,695 | 153,848 | 137,591 | 150,598 | 101,199 | 82,343 | 72,212 | 56,168 | 36,439 | 27,749 | 0 | - |
Provision for cancellation reserves | |||||||||||
89,272 | 63,937 | 62,749 | 64,120 | 77,118 | 70,987 | 76,746 | 31,667 | 22,840 | - | - | - |
Deferred income tax (benefit) provision | |||||||||||
-1,102 | 2,300 | 81,007 | 2,324 | 17,237 | -4,299 | -17,185 | 3,858 | -872 | 17,493 | 27,541 | -41,502 |
Other | |||||||||||
-3,507 | -2,825 | -1,298 | -4,169 | -13,136 | -3,852 | -2,707 | -1,945 | -2,569 | -1,143 | 372 | -10,728 |
Loss on debt extinguishment | |||||||||||
- | - | - | - | - | - | - | - | 0 | - | - | - |
Impairment of (gain on) long-lived assets held for sale | |||||||||||
- | - | - | - | - | - | - | - | 248 | 0 | 2,055 | - |
Net (increase) decrease in: | |||||||||||
Accounts receivable, net | |||||||||||
51,240 | 6,529 | -19,067 | 20,217 | -5,519 | 57,767 | -12,038 | 5,527 | -33,163 | 40,538 | 23,558 | 2,648 |
Auto loan receivables, held for sale | |||||||||||
- | - | - | - | - | - | - | - | - | - | -20,830 | 4,764 |
Retained interest in securitized receivables | |||||||||||
- | - | - | - | - | - | - | - | - | -43,746 | 204,115 | 77,501 |
Inventory | |||||||||||
326,961 | 128,761 | 130,131 | 328,534 | -154,845 | 445,450 | 123,611 | 425,221 | 43,115 | 206,344 | 139,976 | -272,620 |
Other current assets | |||||||||||
19,843 | -32,890 | 34,620 | 2,781 | -15,229 | 16,947 | 3,019 | 3,252 | -15,919 | 27,403 | 3,095 | -9,090 |
Auto loans receivable, net | |||||||||||
1,308,919 | 1,046,631 | 1,077,219 | 1,209,782 | 1,202,587 | 1,369,999 | 1,324,142 | 992,239 | 675,711 | 304,729 | 0 | - |
Other assets | |||||||||||
-4,265 | 7,230 | 2,361 | -143 | 160 | -825 | 6,754 | 1,722 | 6,986 | 7,173 | -413 | -647 |
Net increase (decrease) in: | |||||||||||
Accounts payable, accrued expenses and other current liabilities and accrued income taxes | |||||||||||
85,442 | 86,360 | 38,286 | 74,579 | -23,051 | 51,960 | 117,405 | -575 | 43,138 | -8,802 | 33,741 | -40,276 |
Other liabilities | |||||||||||
-109,827 | -89,709 | -82,150 | -77,370 | -87,107 | -78,046 | -80,537 | -35,222 | -34,492 | 678 | -10,146 | -11,193 |
NET CASH PROVIDED BY OPERATING ACTIVITIES | |||||||||||
-236,606 | 162,971 | -80,550 | -455,311 | -116,757 | -968,130 | -613,163 | -778,441 | -62,164 | -6,758 | 59,522 | 264,591 |
INVESTING ACTIVITIES: | |||||||||||
Capital expenditures | |||||||||||
331,896 | 304,636 | 296,816 | 418,144 | 315,584 | 309,817 | 310,317 | 235,707 | 172,608 | 76,572 | 22,434 | 185,700 |
Proceeds from disposal of property and equipment | |||||||||||
3 | 692 | 97 | 1,229 | 1,542 | 5,869 | 5,095 | 0 | - | - | 662 | 34,341 |
Increase in restricted cash from collections on auto loan receivables | |||||||||||
- | - | - | - | 49,707 | 34,823 | 35,012 | 19,973 | 43,262 | -1,556 | 0 | - |
Insurance proceeds related to damaged property | |||||||||||
- | - | - | - | - | - | - | - | - | - | 447 | - |
Increase in restricted cash in reserve accounts | |||||||||||
- | - | - | - | 12,264 | 16,556 | 10,403 | -13,385 | -12,364 | -12,631 | 0 | - |
Release of restricted cash from reserve accounts | |||||||||||
- | - | - | - | 8,357 | 6,346 | 19,202 | 17,368 | 12,096 | 11,434 | 0 | - |
Purchases of investments | |||||||||||
59,050 | 6,147 | 6,836 | 3,774 | 11,463 | - | - | - | - | - | - | - |
Sales of investments | |||||||||||
1,579 | 1,578 | 1,692 | 730 | 324 | 655 | 466 | 30,318 | 52 | 0 | 2,200 | - |
Purchases of money market securities, net | |||||||||||
- | - | - | - | - | 8,604 | 3,661 | 2,139 | 678 | -4,001 | 2,196 | 3,987 |
Purchases of trading securities | |||||||||||
- | - | - | - | - | 3,814 | 2,051 | 31,756 | 2,638 | 0 | 0 | - |
NET CASH USED IN INVESTING ACTIVITIES | |||||||||||
-389,364 | -308,513 | -301,863 | -419,959 | -378,795 | -360,744 | -336,681 | -255,274 | -219,402 | -72,212 | -21,321 | -155,346 |
FINANCING ACTIVITIES: | |||||||||||
(Decrease) increase in short-term debt, net | |||||||||||
-1,089 | 1,002 | 65 | -366 | -357 | 203 | 227 | -588 | -59 | 119 | 5 | -20,139 |
Proceeds from issuances of long-term debt | |||||||||||
6,277,600 | 4,314,500 | 4,203,150 | 2,974,600 | 2,057,100 | 985,000 | 0 | 0 | - | - | - | - |
Payments on long-term debt | |||||||||||
6,199,793 | 4,155,718 | 4,169,124 | 2,734,600 | 1,652,100 | 675,000 | 0 | 0 | - | 364,900 | 792,500 | 761,827 |
Issuances of long-term debt | |||||||||||
- | - | - | - | - | - | - | - | - | 243,300 | 606,500 | 789,800 |
Cash paid for debt issuance costs | |||||||||||
20,102 | 17,063 | 16,261 | 17,118 | 3,104 | 1,190 | 0 | 0 | - | - | - | - |
Finance Lease, Principal Payments | |||||||||||
4,151 | 894 | 523 | 10,817 | 16,417 | 18,243 | 19,596 | 14,083 | 12,560 | 11,145 | 9,713 | - |
Issuances of non-recourse notes payable | |||||||||||
11,786,432 | 10,892,502 | 10,198,962 | 9,610,035 | 9,553,805 | 7,783,000 | 6,907,000 | 5,851,000 | 5,130,000 | 3,348,000 | 0 | - |
Payments on non-recourse notes payable | |||||||||||
10,708,564 | 10,001,712 | 9,296,773 | 8,395,360 | 8,496,684 | 6,560,815 | 5,513,646 | 4,679,999 | 4,459,572 | 3,160,749 | 0 | - |
Repurchase and retirement of common stock | |||||||||||
567,747 | 904,726 | 579,570 | 564,337 | 983,941 | 924,328 | 313,394 | 203,405 | 0 | 0 | - | - |
Equity issuances | |||||||||||
124,397 | 58,130 | 73,520 | 59,869 | 47,038 | 89,810 | 45,146 | 63,396 | 15,577 | 38,277 | 31,307 | 10,162 |
Excess tax benefits from share-based payment arrangements | |||||||||||
- | - | - | - | - | 50,142 | 22,644 | 24,100 | 9,717 | 8,911 | 3,881 | 391 |
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | |||||||||||
686,983 | 186,021 | 413,446 | 921,906 | 505,340 | 728,579 | 1,128,381 | 1,040,421 | 683,103 | 101,813 | -160,520 | 18,387 |
Increase in cash, cash equivalents, and restricted cash | |||||||||||
61,013 | 40,479 | 31,033 | 46,636 | 9,788 | -600,295 | 178,537 | 6,706 | 401,537 | 22,843 | -122,319 | 127,632 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION | |||||||||||
Cash paid for interest | |||||||||||
- | - | - | - | - | - | 30,991 | 32,601 | 33,741 | 35,351 | 40,344 | 10,171 |
Cash paid for income taxes | |||||||||||
- | - | - | - | - | - | 287,000 | 244,337 | 223,806 | 242,510 | 163,324 | 64,023 |
Non-cash investing and financing activities: | |||||||||||
Increase in accrued capital expenditures | |||||||||||
- | - | - | - | - | - | 11,468 | -1,211 | 8,859 | 6,395 | -5,823 | -12,861 |
Increase in finance and capital lease obligations | |||||||||||
- | - | - | - | - | - | 0 | 0 | - | 1,739 | 0 | 1,382 |