v3.25.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 1,857 $ 1,716
Restricted cash 73 44
Accounts receivable, net 320 303
Finance receivables held for sale, net 767 612
Vehicle inventory 2,023 1,608
Beneficial interests in securitizations 466 464
Other current assets, including $5 and $4, respectively, due from related parties 167 122
Total current assets 5,673 4,869
Property and equipment, net 2,722 2,773
Operating lease right-of-use assets, including $8 and $13, respectively, from leases with related parties 430 440
Intangible assets, net 32 34
Goodwill 2 0
Other assets 507 368
Total assets 9,366 8,484
Current liabilities:    
Accounts payable and accrued liabilities, including $24 and $17, respectively, due to related parties 893 856
Short-term revolving facilities 72 67
Current portion of long-term debt 312 309
Other current liabilities, including $38 and $16, respectively, due to related parties 140 106
Total current liabilities 1,417 1,338
Long-term debt, excluding current portion 5,323 5,256
Operating lease liabilities, excluding current portion, including $6 and $10, respectively, from leases with related parties 402 414
Other liabilities, including $62 and $48, respectively, due to related parties 107 101
Total liabilities 7,249 7,109
Commitments and contingencies (Note 16)
Stockholders' equity:    
Preferred stock, $0.01 par value - 50,000 shares authorized; none issued and outstanding as of each of June 30, 2025 and December 31, 2024 0 0
Additional paid-in capital 2,747 2,676
Accumulated deficit (1,017) (1,416)
Total stockholders' equity attributable to Carvana Co. 1,730 1,260
Non-controlling interests 387 115
Total stockholders' equity 2,117 1,375
Total liabilities & stockholders' equity 9,366 8,484
Class A Common Stock    
Stockholders' equity:    
Common stock 0 0
Class B Common Stock    
Stockholders' equity:    
Common stock $ 0 $ 0