|
Consolidated Statements Of Cash Flows (USD $)
|
3 Months Ended |
|
May 31, 2014
|
May 31, 2013
|
| OPERATING ACTIVITIES: |
|
|
| Net earnings |
$ 169,653,000 |
$ 146,651,000 |
| Adjustments to reconcile net earnings to net cash used in operating activities: |
|
|
| Depreciation and amortization |
27,343,000 |
24,335,000 |
| Share-based compensation expense |
15,388,000 |
22,941,000 |
| Provision for loan losses |
15,847,000 |
11,299,000 |
| Provision for cancellation reserves |
21,118,000 |
9,123,000 |
| Deferred income tax (benefit) provision |
771,000 |
6,695,000 |
| Loss (gain) on disposition of assets and other |
424,000 |
(178,000) |
| Net decrease (increase) in: |
|
|
| Accounts receivable, net |
(17,887,000) |
21,509,000 |
| Inventory |
(40,376,000) |
119,613,000 |
| Other current assets |
664,000 |
7,293,000 |
| Auto loan receivables, net |
(415,664,000) |
(425,827,000) |
| Other assets |
3,467,000 |
(2,592,000) |
| Net increase (decrease) in: |
|
|
| Accounts payable, accrued expenses and other current liabilities and accrued income taxes |
40,424,000 |
533,000 |
| Other liabilities |
(30,252,000) |
(18,974,000) |
| NET CASH USED IN OPERATING ACTIVITIES |
(209,080,000) |
(77,579,000) |
| INVESTING ACTIVITIES: |
|
|
| Capital expenditures |
(53,709,000) |
(42,045,000) |
| Proceeds from sales of assets |
0 |
4,610,000 |
| Increase in restricted cash from collections on auto loan receivables |
(31,354,000) |
(16,428,000) |
| Increase in restricted cash in reserve accounts |
(3,259,000) |
(2,812,000) |
| Release of restricted cash from reserve accounts |
4,000 |
10,011,000 |
| (Purchases) sales of money market securities, net |
(3,035,000) |
1,313,000 |
| Purchases of Trading Securities |
(2,798,000) |
(1,161,000) |
| Proceeds from Sale of Trading Securities |
32,000 |
0 |
| NET CASH USED IN INVESTING ACTIVITIES |
(94,119,000) |
(46,512,000) |
| FINANCING ACTIVITIES: |
|
|
| Increase (decrease) in short-term debt, net |
660,000 |
617,000 |
| Payments on finance and capital lease obligations |
(4,204,000) |
(3,796,000) |
| Issuance of non-recourse notes payable |
1,897,000,000 |
1,774,000,000 |
| Payments on non-recourse notes payable |
(1,518,469,000) |
(1,261,735,000) |
| Repurchase and retirement of common stock |
(171,924,000) |
(130,215,000) |
| Equity issuances, net |
120,000 |
11,204,000 |
| Excess tax benefits from share-based payment arrangements |
4,306,000 |
9,919,000 |
| NET CASH PROVIDED BY FINANCING ACTIVITIES |
207,489,000 |
399,994,000 |
| (Decrease) Increase in cash and cash equivalents |
(95,710,000) |
275,903,000 |
| Cash and cash equivalents at beginning of year |
627,901,000 |
449,364,000 |
| CASH AND CASH EQUIVALENTS AT END OF PERIOD |
532,191,000 |
725,267,000 |
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION |
|
|
| Cash paid for interest |
7,642,000 |
7,927,000 |
| Cash paid for income taxes |
5,802,000 |
2,100,000 |
| Non-cash investing and financing activities: |
|
|
| Increase (decrease) in accrued capital expenditures |
(10,338,000) |
1,025,000 |
| Increase in finance and capital lease obligations |
$ 5,297,000 |
$ 0 |