v3.26.3
Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Sep. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 3,049 $ 2,327
Restricted cash 123 102
Accounts receivable, net 320 245
Finance receivables held for sale, net 896 813
Vehicle inventory 3,456 2,408
Beneficial interests in securitizations 557 486
Other current assets, including $12 and $5, respectively, due from related parties 227 168
Total current assets 8,628 6,549
Property and equipment, net 2,914 2,814
Operating lease right-of-use assets, including $9 and $6, respectively, from leases with related parties 434 443
Intangible assets, net 51 47
Goodwill 12 10
Deferred tax assets 2,905 3,064
Other assets 251 274
Total assets 15,195 13,201
Current liabilities:    
Accounts payable and accrued liabilities, including $35 and $21, respectively, due to related parties 1,574 1,100
Short-term revolving facilities 71 58
Current portion of long-term debt 283 227
Other current liabilities, including $79 and $31, respectively, due to related parties 202 134
Total current liabilities 2,130 1,519
Long-term debt, excluding current portion 4,874 4,830
Operating lease liabilities, excluding current portion, including $7 and $5, respectively, from leases with related parties 388 406
Tax receivable agreement liability, including $1,645 and $1,721, respectively, due to related parties 2,130 2,228
Other liabilities 20 15
Total liabilities 9,542 8,998
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 September 30, 2026 and December 31, 2025 0 0
Additional paid-in capital 3,498 3,449
Accumulated other comprehensive income 13 0
Retained earnings (accumulated deficit) 840 (9)
Total stockholders' equity attributable to Carvana Co. 4,352 3,441
Non-controlling interests 1,301 762
Total stockholders' equity 5,653 4,203
Total liabilities & stockholders' equity 15,195 13,201
Class A Common Stock    
Stockholders' equity:    
Common stock 1 1
Class B Common Stock    
Stockholders' equity:    
Common stock $ 0 $ 0