XML 17 R6.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Aug. 31, 2017
Aug. 31, 2016
OPERATING ACTIVITIES:    
Net earnings $ 393,126 $ 337,722
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:    
Depreciation and amortization 88,078 83,013
Share-based compensation expense 36,585 60,561
Provision for loan losses 61,465 62,349
Provision for cancellation reserves 34,488 35,893
Deferred income tax provision 2,271 6,728
Other 1,013 302
Net decrease (increase) in:    
Accounts receivable, net 52,655 37,594
Inventory 28,794 13,226
Other current assets (1,063) (16,993)
Auto loan receivables, net (637,719) (656,835)
Other assets 83 732
Net increase (decrease) in:    
Accounts payable, accrued expenses and other current liabilities and accrued income taxes 66,939 52,946
Other liabilities (45,618) (50,247)
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES 81,097 (33,009)
INVESTING ACTIVITIES:    
Capital expenditures (155,110) (214,587)
Proceeds from disposal of property and equipment 96 2
Increase in restricted cash from collections on auto loan receivables (23,923) (36,834)
Increase in restricted cash in reserve accounts (11,409) (7,114)
Release of restricted cash from reserve accounts 8,396 2,434
Purchases of money market securities, net (2,132) (3,439)
Purchases of trading securities (1,344) (2,863)
Sales of trading securities 370 244
NET CASH USED IN INVESTING ACTIVITIES (185,056) (262,157)
FINANCING ACTIVITIES:    
Increase (decrease) in short-term debt, net 209 (67)
Proceeds from issuances of long-term debt 1,552,000 1,310,800
Payments on long-term debt (1,689,000) (1,225,800)
Cash paid for debt issuance costs (7,623) (9,009)
Payments on finance and capital lease obligations (4,475) (5,916)
Issuances of non-recourse notes payable 4,987,000 4,844,000
Payments on non-recourse notes payable (4,425,923) (4,107,206)
Repurchase and retirement of common stock (344,785) (266,025)
Equity issuances 23,905 33,026
NET CASH PROVIDED BY FINANCING ACTIVITIES 91,308 573,803
(Decrease) increase in cash and cash equivalents (12,651) 278,637
Cash and cash equivalents at beginning of year 38,416 37,394
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 25,765 $ 316,031