COPART INC
For the period ended Jan 31, 2024. Filed Feb 27, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jan 31, 2024 · Filed Feb 27, 2024
CPRT$32.30-0.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows
| Six Months Ended January 31, | ||
|---|---|---|
| (In thousands) | 2024 | 2023 |
| Cash flows from operating activities: | ||
| Net income | 658,059 | $539,525 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization, including debt cost | 88,485 | 78,094 |
| Allowance for credit loss | 3,702 | 2,133 |
| Equity in (earnings) losses of unconsolidated affiliates | (5,402) | 4,030 |
| Stock-based compensation | 17,676 | 20,323 |
| Gain on sale of property and equipment | (971) | (748) |
| Deferred income taxes | (2,103) | (3,309) |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (169,508) | (186,559) |
| Vehicle pooling costs | (14,387) | (21,268) |
| Inventories | (2,994) | 8,001 |
| Prepaid expenses, other current and non-current assets | (35,040) | (29,176) |
| Operating lease right-of-use assets and lease liabilities | 865 | 414 |
| Accounts payable and accrued liabilities | 6,556 | 27,619 |
| Deferred revenue | (13) | 3,709 |
| Income taxes receivable | (10,463) | 49,430 |
| Income taxes payable | 2,577 | 7,615 |
| Net cash provided by operating activities | 537,039 | 499,833 |
| Cash flows from investing activities: | ||
| Purchases of property and equipment | (285,289) | (256,719) |
| Cash acquired in connection with acquisition | 17,662 | — |
| Proceeds from sale of property and equipment | 2,069 | 16,343 |
| Investment in held to maturity securities | (1,411,122) | — |
| Proceeds from the sale of held to maturity securities | 1,430,000 | — |
| Investment in unconsolidated affiliate | (1,000) | (1,993) |
| Net cash used in investing activities | (247,680) | (242,369) |
| Cash flows from financing activities: | ||
| Proceeds from the exercise of stock options | 13,482 | 10,815 |
| Proceeds from the issuance of Employee Stock Purchase Plan shares | 5,961 | 5,363 |
| Payments for employee stock-based tax withholdings | (2,164) | (831) |
| Principal payments on revolver facility | (10,820) | — |
| Payments of finance lease obligations | (11) | (13) |
| Net cash provided by financing activities | 6,448 | 15,334 |
| Effect of foreign currency translation | 3,746 | 3,918 |
| Net increase in cash, cash equivalents, and restricted cash | 299,553 | 276,716 |
| Cash, cash equivalents, and restricted cash at beginning of period | 957,395 | 1,384,236 |
| Cash, cash equivalents, and restricted cash at end of period | 1,256,948 | $1,660,952 |
| Supplemental disclosure of cash flow information: | ||
| Interest paid | $2,036 | $706 |
| Income taxes paid, net of refunds | $188,480 | $98,324 |
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