Company: KMX
Filing Date: 2025-04-11
Form Type: 10-K
Source: 0001170010-25-000024
Chunk: 92

Company: CARMAX INC
Filing Date: 2025-04-11
Form: 10-K
Item: Item 8
Chunk 92
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 OF CASH FLOWS\ Years Ended February 28 or 29(In thousands)202520242023OPERATING ACTIVITIES:   Net earnings$500,556 $479,204 $484,762 Adjustments to reconcile net earnings to net cash provided by operating activities:   Depreciation and amortization294,801 260,414 265,224 Share-based compensation expense134,709 119,720 85,592 Provision for loan losses334,667 310,516 317,013 Provision for cancellation reserves97,701 80,311 98,137 Deferred income tax benefit(23,724)(4,800)(6,550)Other20,781 9,252 4,773 Net decrease (increase) in:   Accounts receivable, net32,420 77,630 262,201 Inventory(256,552)48,072 1,398,427 Other current assets109,162 39,939 103,222 Auto loans receivable, net(565,612)(980,569)(1,369,103)Other assets(19,230)(13,902)(52,286)Net increase (decrease) in:   Accounts payable, accrued expenses and other     current liabilities and accrued income taxes71,714 118,511 (197,687)Other liabilities(106,954)(85,681)(110,393)NET CASH PROVIDED BY OPERATING ACTIVITIES624,439 458,617 1,283,332 INVESTING ACTIVITIES:   Capital expenditures(467,939)(465,307)(422,710)Proceeds from disposal of property and equipment333 1,351 5,190 Purchases of investments(10,738)(6,193)(12,526)Sales and returns of investments17,342 3,151 4,280 NET CASH USED IN INVESTING ACTIVITIES(461,002)(466,998)(425,766)FINANCING ACTIVITIES:   Proceeds from issuances of long-term debt522,800 134,600 3,020,700 Payments on long-term debt(836,622)(246,067)(4,275,353)Cash paid for debt issuance costs(21,253)(21,633)(19,781)Payments on finance lease obligations(16,536