Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands |
3 Months Ended |
May. 31, 2015 |
May. 31, 2014 |
| OPERATING ACTIVITIES: |
|
|
| Net earnings |
$ 181,974
|
$ 169,653
|
| Adjustments to reconcile net earnings to net cash provided by (used in) operating activities: |
|
|
| Depreciation and amortization |
32,066
|
27,343
|
| Share-based compensation expense |
23,409
|
15,388
|
| Provision for loan losses |
13,598
|
15,847
|
| Provision for cancellation reserves |
20,330
|
21,118
|
| Deferred income tax (benefit) provision |
10,475
|
771
|
| Loss (gain) on disposition of assets and other |
77
|
424
|
| Net decrease (increase) in: |
|
|
| Accounts receivable, net |
34,027
|
(17,887)
|
| Inventory |
242,797
|
(40,376)
|
| Other current assets |
14,423
|
664
|
| Auto loan receivables, net |
(390,977)
|
(415,664)
|
| Other assets |
57
|
3,467
|
| Net increase (decrease) in: |
|
|
| Accounts payable, accrued expenses and other current liabilities and accrued income taxes |
(31,043)
|
40,424
|
| Other liabilities |
(33,659)
|
(30,252)
|
| NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES |
117,554
|
(209,080)
|
| INVESTING ACTIVITIES: |
|
|
| Capital expenditures |
(59,437)
|
(53,709)
|
| Proceeds from sales of assets |
1,419
|
0
|
| Increase in restricted cash from collections on auto loan receivables |
(33,932)
|
(31,354)
|
| Increase in restricted cash in reserve accounts |
(2,972)
|
(3,259)
|
| Release of restricted cash from reserve accounts |
1,633
|
4
|
| (Purchases) sales of money market securities, net |
82
|
(3,035)
|
| Purchases of Trading Securities |
(3,942)
|
(2,798)
|
| Proceeds from Sale of Trading Securities |
72
|
32
|
| NET CASH USED IN INVESTING ACTIVITIES |
(97,077)
|
(94,119)
|
| FINANCING ACTIVITIES: |
|
|
| Increase (decrease) in short-term debt, net |
(4)
|
660
|
| Proceeds from Revolving Line of Credit and Long-Term Debt |
20,000
|
0
|
| Payments on Revolving Line of Credit and Long-Term Debt |
(30,000)
|
0
|
| Payments on finance and capital lease obligations |
(4,652)
|
(4,204)
|
| Issuance of non-recourse notes payable |
3,047,805
|
1,897,000
|
| Payments on non-recourse notes payable |
(2,656,311)
|
(1,518,469)
|
| Repurchase and retirement of common stock |
(117,628)
|
(171,924)
|
| Equity issuances, net |
17,725
|
120
|
| Excess tax benefits from share-based payment arrangements |
26,680
|
4,306
|
| NET CASH PROVIDED BY FINANCING ACTIVITIES |
303,615
|
207,489
|
| (Decrease) Increase in cash and cash equivalents |
324,092
|
(95,710)
|
| Cash and cash equivalents at beginning of year |
27,606
|
627,901
|
| CASH AND CASH EQUIVALENTS AT END OF PERIOD |
351,698
|
532,191
|
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION |
|
|
| Cash paid for interest |
9,976
|
7,642
|
| Cash paid for income taxes |
813
|
5,802
|
| Non-cash investing and financing activities: |
|
|
| Increase (decrease) in accrued capital expenditures |
5,820
|
10,338
|
| Increase in finance and capital lease obligations |
$ 0
|
$ 5,297
|