CARMAX, INC. KMX Cash Flow

Carmax, inc. (KMX)

CashFlow / TTM

Feb'20	Nov'19	Aug'19	May'19	Feb'19	Nov'18	Aug'18	May'18	Feb'18	Nov'17	Aug'17	May'17	Feb'17	Nov'16	Aug'16	May'16	Feb'16	Nov'15	Aug'15	May'15	Feb'15	Nov'14	Aug'14	May'14	Feb'14	Nov'13	Aug'13	May'13	Feb'13	Nov'12	Aug'12	May'12	Feb'12	Nov'11	Aug'11	May'11	Feb'11	Nov'10	Aug'10	May'10
OPERATING ACTIVITIES:
Net earnings
888	866	883	870	842	772	730	691	664	694	682	663	626	615	606	616	623	625	627	609	597	553	529	515	492	500	488	460	434	422	409	409	413	404	405	401	377	0	0	0
Adjustments to reconcile net earnings to net cash (used in) provided by operating activities:
Depreciation and amortization
215	204	195	188	182	182	182	181	179	176	173	171	168	162	155	146	137	130	124	119	115	112	108	104	101	0	0	0	95	92	89	86	82	93	86	81	76	0	0	0
Share-based compensation expense
108	111	89	91	75	70	79	72	61	71	67	78	91	77	78	59	51	69	77	89	81	68	66	58	66	0	0	0	62	57	51	48	48	47	47	45	43	0	0	0
Provision for loan losses
185	174	166	161	153	150	146	139	137	145	149	152	150	135	124	114	101	92	85	80	82	83	79	76	72	0	0	0	56	51	48	46	36	34	27	25	27	0	0	0
Provision for cancellation reserves
89	74	70	69	63	66	66	65	62	63	62	62	64	67	70	75	77	78	74	70	70	95	96	88	76	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income tax (benefit) provision
-1	0	3	8	2	67	81	77	81	17	-2	1	2	24	24	14	17	0	1	5	-4	-25	-20	-23	-17	0	0	0	3	-2	-4	-1	-0	-1	10	10	17	0	0	0
Other
-3	1	-5	-3	-2	-4	-1	-2	-1	-3	-4	-4	-4	-12	-11	-13	-13	-4	-4	-3	-3	-3	-2	-3	-2	0	0	0	-1	-5	-4	-2	-2	-0	-0	-0	-1	0	0	0
Net (increase) decrease in:
Accounts receivable, net
51	31	36	32	6	15	5	-3	-19	3	5	2	20	3	-6	-1	-5	0	-8	5	57	20	23	27	-12	0	0	0	5	8	5	-19	-33	-11	-1	0	40	0	0	0
Retained interest in securitized receivables
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-43	0	0	0
Inventory
326	257	247	291	128	-15	125	111	130	270	312	283	328	16	7	20	-154	188	202	162	445	408	344	283	123	0	0	0	425	325	136	93	43	10	132	221	206	0	0	0
Other current assets
19	49	37	-15	-32	-11	11	33	34	2	-13	-6	2	2	-0	3	-15	-17	7	3	16	28	13	9	3	0	0	0	3	15	0	-47	-15	19	20	50	27	0	0	0
Auto loans receivable, net
1,308	1,152	1,092	1,095	1,046	1,072	1,115	1,089	1,077	1,188	1,190	1,192	1,209	1,150	1,139	1,154	1,202	1,272	1,357	1,345	1,369	1,329	1,257	1,313	1,324	0	0	0	992	795	664	1,019	675	1,066	921	48	304	0	0	0
Other assets
-4	-9	-15	10	7	8	9	6	2	1	0	-0	-0	-0	-0	-0	0	-4	-1	2	-0	2	0	0	6	7	9	6	1	2	4	1	6	6	4	7	7	0	0	0
Net increase (decrease) in:
Accounts payable, accrued expenses and other current liabilities and accrued income taxes
85	84	2	86	86	69	28	67	38	63	88	58	74	88	88	77	-23	-40	29	-19	51	99	95	157	117	0	0	0	-0	-37	-47	-5	43	18	-24	7	-8	0	0	0
Other liabilities
-109	-103	-91	-88	-89	-87	-101	-101	-82	-80	-72	-74	-77	-82	-85	-85	-87	-86	-83	-81	-78	-105	-104	-91	-80	0	0	0	-35	-29	-33	-39	-34	-15	-18	-6	0	0	0	0
NET CASH PROVIDED BY OPERATING ACTIVITIES
-236	-69	-73	-24	162	227	-50	-41	-80	-312	-341	-351	-455	-71	-65	-146	-116	-565	-616	-641	-968	-904	-786	-744	-613	0	0	0	-778	-567	-272	-202	-62	22	-73	-37	-6	0	0	0
INVESTING ACTIVITIES:
Capital expenditures
331	310	304	303	304	312	312	297	296	330	358	400	418	390	384	353	315	311	320	315	309	336	309	321	310	0	0	0	235	251	196	189	172	144	141	98	76	0	0	0
Proceeds from disposal of property and equipment
0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	-	1	1	1	7	5	5	6	0	5	0	0	0	0	0	0	0	-	-	-	-	-	-	-	-
Increase in restricted cash from collections on auto loan receivables
-	-	-	-	-	-	-	-	-	-	-	-	-	40	45	36	49	40	38	37	34	28	45	49	35	0	0	0	19	56	37	30	43	-11	8	-26	-1	0	0	0
Increase in restricted cash in reserve accounts
-	-	-	-	-	-	-	-	-	-	-	-	-	15	13	12	12	13	15	22	16	29	22	9	10	0	0	0	-13	-10	-10	-10	-12	-9	-8	-8	-12	0	0	0
Release of restricted cash from reserve accounts
-	-	-	-	-	-	-	-	-	-	-	-	-	10	9	6	8	5	6	7	6	10	5	9	19	0	0	0	17	15	13	15	12	12	11	10	11	0	0	0
Purchases of investments
59	9	9	8	6	5	10	10	6	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Sales of investments
1	1	1	1	1	2	2	1	1	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of money market securities, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	6	-	6	5	5	8	8	13	8	3	0	0	0	2	2	2	0	0	0	-3	-4	-4	0	0	0
Purchases of trading securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	3	-	5	5	4	3	3	3	3	2	32	31	31	31	1	1	3	2	0	0	0	-	-	-	-
NET CASH USED IN INVESTING ACTIVITIES
-389	-318	-312	-310	-308	-315	-320	-306	-301	-315	-313	-376	-419	-442	-441	-404	-378	-369	-376	-363	-360	-374	-371	-384	-336	0	0	0	-255	-280	-247	-200	-219	-153	-125	-116	-72	0	0	0
FINANCING ACTIVITIES:
(Decrease) increase in short-term debt, net
-1	-0	-2	0	1	-0	3	-0	0	-0	-0	-0	-0	0	-1	0	-0	-2	-0	-0	0	1	0	0	0	0	0	0	-0	-0	-0	-0	-0	0	0	1	0	0	0	0
Proceeds from issuances of long-term debt
6,277	6,264	6,307	5,212	4,314	3,964	3,951	4,258	4,203	4,310	3,215	2,642	2,974	2,580	3,347	3,130	2,057	1,822	1,005	1,005	985	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments on long-term debt
6,199	6,090	5,980	4,947	4,155	4,030	3,940	4,269	4,169	4,156	3,197	2,442	2,734	2,553	2,847	2,830	1,652	1,258	705	705	675	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	364	0	0	0
Issuances of long-term debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	243	0	0	0
Cash paid for debt issuance costs
20	19	19	16	17	17	16	16	16	16	15	15	17	12	9	7	3	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Finance Lease, Principal Payments
4	3	2	1	0	-5	-3	-1	0	9	9	10	10	11	12	14	16	18	19	18	18	18	17	20	19	18	18	14	14	13	13	12	12	0	0	0	-	-	-	-
Issuances of non-recourse notes payable
11,786	11,305	11,154	11,075	10,892	10,661	10,698	10,457	10,198	10,095	9,753	9,761	9,610	9,358	9,291	8,765	9,553	9,331	9,086	8,933	7,783	7,489	7,180	7,030	6,907	0	0	0	5,851	5,507	5,606	4,594	5,130	4,034	3,344	3,834	3,348	0	0	0
Payments on non-recourse notes payable
10,708	10,377	10,264	10,151	10,001	9,755	9,749	9,490	9,296	9,071	8,714	8,592	8,395	8,230	8,179	7,792	8,496	8,176	7,842	7,698	6,560	6,278	6,001	5,770	5,513	0	0	0	4,679	4,591	4,823	6,122	4,459	9,089	6,437	2,811	3,160	0	0	0
Repurchase and retirement of common stock
567	730	865	905	904	757	616	603	579	554	643	613	564	632	880	987	983	1,044	913	886	924	812	514	355	313	0	0	0	203	0	0	0	-	-	-	-	-	-	-	-
Equity issuances
124	99	97	82	58	61	97	75	73	91	50	62	59	36	42	16	47	80	82	124	89	79	74	34	45	0	0	0	63	40	15	20	15	11	36	30	38	0	0	0
Excess tax benefits from share-based payment arrangements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	47	48	72	50	43	40	17	22	0	0	0	24	18	12	13	9	9	13	12	8	0	0	0
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES
686	448	424	346	186	131	430	412	413	689	439	791	921	503	722	252	505	777	738	824	728	803	762	935	1,128	0	0	0	1,040	909	796	703	683	440	325	295	101	0	0	0
Increase in cash, cash equivalents, and restricted cash
61	60	38	12	40	43	58	65	31	62	-215	63	46	-9	215	-299	9	-156	-254	-180	-600	-474	-395	-193	178	0	0	0	6	61	276	300	401	309	126	142	22	0	0	0
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid for interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	29	30	30	30	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Cash paid for income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	360	322	290	287	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash investing and financing activities:
Increase in accrued capital expenditures
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7	9	20	11	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Increase in finance and capital lease obligations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	11	5	5	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-