v3.24.1.u1
Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Feb. 29, 2024
Feb. 28, 2023
Feb. 28, 2022
OPERATING ACTIVITIES:      
Net earnings $ 479,204 $ 484,762 $ 1,151,297
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:      
Depreciation and amortization 260,414 265,224 273,188
Share-based compensation expense 119,720 85,592 109,197
Provision for loan losses 310,516 317,013 141,692
Provision for cancellation reserves 80,311 98,137 114,928
Deferred income tax (benefit) provision (4,800) (6,550) 15,000
Other 9,252 4,773 (19,139)
Net decrease (increase) in:      
Accounts receivable, net 77,630 262,201 (288,195)
Inventory 48,072 1,398,427 (1,967,432)
Other current assets 39,939 103,222 (80,790)
Auto loans receivable, net (980,569) (1,369,103) (1,941,574)
Other assets (13,902) (52,286) (32,272)
Net increase (decrease) in:      
Accounts payable, accrued expenses and other current liabilities and accrued income taxes 118,511 (197,687) 175,106
Other liabilities (85,681) (110,393) (200,456)
Net Cash Provided by (Used in) Operating Activities 458,617 1,283,332 (2,549,450)
INVESTING ACTIVITIES:      
Capital expenditures (465,307) (422,710) (308,534)
Proceeds from disposal of property and equipment 1,351 5,190 260
Proceeds from Sales of Business, Affiliate and Productive Assets 0 0 12,298
Payments to Acquire Investments (6,193) (12,526) (24,614)
Proceeds from Sale and Maturity of Other Investments 3,151 4,280 38,408
Payments to Acquire Businesses, Net of Cash Acquired 0 0 (241,563)
Net Cash Provided by (Used in) Investing Activities (466,998) (425,766) (523,745)
FINANCING ACTIVITIES:      
Proceeds from issuances of long-term debt 134,600 3,020,700 7,684,400
Payments on long-term debt (246,067) (4,275,353) (5,752,796)
Cash paid for debt issuance costs (21,633) (19,781) (20,132)
Finance Lease, Principal Payments (16,674) (12,200) (11,923)
Issuances of non-recourse notes payable 12,380,050 14,333,896 14,328,298
Payments on non-recourse notes payable (11,873,169) (13,440,603) (12,626,308)
Repurchase and retirement of common stock (94,086) (333,932) (576,478)
Equity issuances 44,766 17,093 79,805
Net Cash Provided by (Used in) Financing Activities 307,787 (710,180) 3,104,866
Increase in cash, cash equivalents, and restricted cash 299,406 147,386 31,671
Cash, cash equivalents, and restricted cash at beginning of year 951,004 803,618 771,947
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF YEAR 1,250,410 951,004 803,618
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO THE CONSOLIDATED BALANCE SHEETS      
Cash and cash equivalents 574,142 314,758 102,716
Restricted cash from collections on auto loans receivable 506,648 470,889 548,099
Restricted cash included in other assets 169,620 165,357 152,803
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF YEAR $ 1,250,410 $ 951,004 $ 803,618