$CVNA
CARVANA CO.

2021 Q3 Form 10-Q Financial Statement

#000169082021000310 Filed on November 04, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2020 Q3
Revenue $3.480B $1.544B
YoY Change 125.39% 41.02%
Cost Of Revenue $2.957B $1.282B
YoY Change 130.66% 33.92%
Gross Profit $523.0M $262.0M
YoY Change 99.62% 90.49%
Gross Profit Margin 15.03% 16.97%
Selling, General & Admin $546.0M $269.0M
YoY Change 102.97% 29.35%
% of Gross Profit 104.4% 102.67%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $26.00M $18.64M
YoY Change 39.48% 74.53%
% of Gross Profit 4.97% 7.11%
Operating Expenses $546.0M $269.0M
YoY Change 102.97% 29.35%
Operating Profit -$23.00M -$7.000M
YoY Change 228.57% -90.06%
Interest Expense $48.00M $20.00M
YoY Change 140.0% -4.72%
% of Operating Profit
Other Income/Expense, Net $3.000M $9.000M
YoY Change -66.67% -1188.27%
Pretax Income -$68.00M -$17.60M
YoY Change 286.36% -80.91%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$32.00M -$7.000M
YoY Change 357.14% -76.73%
Net Earnings / Revenue -0.92% -0.45%
Basic Earnings Per Share
Diluted Earnings Per Share -$377.5K -$101.4K
COMMON SHARES
Basic Shares Outstanding 84.78M shares 70.01M shares
Diluted Shares Outstanding 70.01M shares

Balance Sheet

Concept 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $665.0M $490.7M
YoY Change 35.52% 77.92%
Cash & Equivalents $297.0M $174.0M
Short-Term Investments $368.0M $317.0M
Other Short-Term Assets $143.0M $71.20M
YoY Change 100.85% 61.97%
Inventory $2.285B $967.5M
Prepaid Expenses
Receivables $178.0M $82.93M
Other Receivables $0.00 $0.00
Total Short-Term Assets $3.690B $1.747B
YoY Change 111.21% 59.12%
LONG-TERM ASSETS
Property, Plant & Equipment $1.606B $941.8M
YoY Change 70.52% 106.01%
Goodwill $9.000M $9.353M
YoY Change -3.77% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $50.00M $28.51M
YoY Change 75.36% 69.87%
Total Long-Term Assets $1.670B $985.7M
YoY Change 69.42% 68.1%
TOTAL ASSETS
Total Short-Term Assets $3.690B $1.747B
Total Long-Term Assets $1.670B $985.7M
Total Assets $5.360B $2.733B
YoY Change 96.14% 62.25%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $200.0M $96.48M
YoY Change 107.3% 113.13%
Accrued Expenses $421.0M $218.1M
YoY Change 93.03% 75.18%
Deferred Revenue $32.00M $17.54M
YoY Change 82.43% 168.54%
Short-Term Debt $455.0M $127.0M
YoY Change 258.27% -51.56%
Long-Term Debt Due $74.00M $54.30M
YoY Change 36.28% 35.07%
Total Short-Term Liabilities $1.261B $548.8M
YoY Change 129.78% 8.15%
LONG-TERM LIABILITIES
Long-Term Debt $3.134B $1.081B
YoY Change 189.94% 39.19%
Other Long-Term Liabilities $1.000M $1.497M
YoY Change -33.2% -18.82%
Total Long-Term Liabilities $3.135B $1.082B
YoY Change 189.63% 39.05%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.261B $548.8M
Total Long-Term Liabilities $3.135B $1.082B
Total Liabilities $4.652B $1.771B
YoY Change 162.64% 28.99%
SHAREHOLDERS EQUITY
Retained Earnings -$400.0M -$290.8M
YoY Change 37.53% 72.27%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $385.0M $430.5M
YoY Change
Total Liabilities & Shareholders Equity $5.360B $2.733B
YoY Change 96.14% 62.25%

Cashflow Statement

Concept 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income -$32.00M -$7.000M
YoY Change 357.14% -76.73%
Depreciation, Depletion And Amortization $26.00M $18.64M
YoY Change 39.48% 74.53%
Cash From Operating Activities -$283.0M -$271.3M
YoY Change 4.32% 93.98%
INVESTING ACTIVITIES
Capital Expenditures -$196.0M -$99.43M
YoY Change 97.12% 57.23%
Acquisitions
YoY Change
Other Investing Activities $18.00M $4.910M
YoY Change 266.6% 234.01%
Cash From Investing Activities -$178.0M -$94.51M
YoY Change 88.34% 53.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 555.0M 195.8M
YoY Change 183.41% -26.84%
NET CHANGE
Cash From Operating Activities -283.0M -271.3M
Cash From Investing Activities -178.0M -94.51M
Cash From Financing Activities 555.0M 195.8M
Net Change In Cash 94.00M -170.0M
YoY Change -155.31% -357.24%
FREE CASH FLOW
Cash From Operating Activities -$283.0M -$271.3M
Capital Expenditures -$196.0M -$99.43M
Free Cash Flow -$87.00M -$171.9M
YoY Change -49.37% 124.32%

Facts In Submission

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us-gaap Proceeds From Collection Of Loans Held For Sale
ProceedsFromCollectionOfLoansHeldForSale
60000000 USD
cvna Unrealized Gain Loss On Beneficial Interest In Securitization
UnrealizedGainLossOnBeneficialInterestInSecuritization
6000000 USD
cvna Unrealized Gain Loss On Beneficial Interest In Securitization
UnrealizedGainLossOnBeneficialInterestInSecuritization
4000000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
111000000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
46000000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
1230000000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
198000000 USD
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
86000000 USD
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
18000000 USD
cvna Increase Decreasein Accounts Payableand Accrued Liabilities Excluding Related Party
IncreaseDecreaseinAccountsPayableandAccruedLiabilitiesExcludingRelatedParty
319000000 USD
cvna Increase Decreasein Accounts Payableand Accrued Liabilities Excluding Related Party
IncreaseDecreaseinAccountsPayableandAccruedLiabilitiesExcludingRelatedParty
112000000 USD
cvna Operating Lease Right Of Use Assets Payments
OperatingLeaseRightOfUseAssetsPayments
117000000 USD
cvna Operating Lease Right Of Use Assets Payments
OperatingLeaseRightOfUseAssetsPayments
18000000 USD
cvna Proceeds Operating Lease Liabilities
ProceedsOperatingLeaseLiabilities
121000000 USD
cvna Proceeds Operating Lease Liabilities
ProceedsOperatingLeaseLiabilities
23000000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1422000000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-447000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
390000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
270000000 USD
cvna Proceeds Received From Principal Payments On Beneficial Interest In Securitizations
ProceedsReceivedFromPrincipalPaymentsOnBeneficialInterestInSecuritizations
38000000 USD
cvna Proceeds Received From Principal Payments On Beneficial Interest In Securitizations
ProceedsReceivedFromPrincipalPaymentsOnBeneficialInterestInSecuritizations
9000000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-352000000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-261000000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
8733000000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
3426000000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
8318000000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
3868000000 USD
us-gaap Proceeds From Issuance Of Other Long Term Debt
ProceedsFromIssuanceOfOtherLongTermDebt
1525000000 USD
us-gaap Proceeds From Issuance Of Other Long Term Debt
ProceedsFromIssuanceOfOtherLongTermDebt
203000000 USD
us-gaap Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
46000000 USD
us-gaap Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
18000000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
21000000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
12000000 USD
cvna Proceeds From Issuance Or Sale Of Equity Excluding Stock Options
ProceedsFromIssuanceOrSaleOfEquityExcludingStockOptions
0 USD
cvna Proceeds From Issuance Or Sale Of Equity Excluding Stock Options
ProceedsFromIssuanceOrSaleOfEquityExcludingStockOptions
1059000000 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
1000000 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
5000000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
25000000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
9000000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1849000000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
786000000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
75000000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
78000000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
329000000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
118000000 USD
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
404000000 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
196000000 USD
cvna Common Ownership Number Of Classes
CommonOwnershipNumberOfClasses
2 class
us-gaap Use Of Estimates
UseOfEstimates
<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="padding-right:8pt;text-indent:18pt"><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of these unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions. Certain accounting estimates involve significant judgments, assumptions and estimates by management that have a material impact on the carrying value of certain assets and liabilities, disclosures of contingent assets and liabilities and the reported amounts of revenues and expenses during the reporting period, which management considers to be critical accounting estimates. The judgments, assumptions and estimates used by management are based on historical experience, management’s experience, and other factors, which are believed to be reasonable under the circumstances. Because of the nature of the judgments and assumptions made by management, actual results could differ materially from these judgments and estimates, which could have a material impact on the carrying values of the Company’s assets and liabilities and the results of operations.</span></div>
CY2021Q3 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
259000000 USD
CY2020Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
171000000 USD
CY2021Q3 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
1333000000 USD
CY2020Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
909000000 USD
CY2021Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
200000000 USD
CY2020Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
67000000 USD
CY2021Q3 us-gaap Taxes Payable Current
TaxesPayableCurrent
136000000 USD
CY2020Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
71000000 USD
CY2021Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
65000000 USD
CY2020Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
34000000 USD
CY2021Q3 us-gaap Interest Payable Current
InterestPayableCurrent
56000000 USD
CY2020Q4 us-gaap Interest Payable Current
InterestPayableCurrent
20000000 USD
CY2021Q3 cvna Accrued Property Plant And Equipment Current
AccruedPropertyPlantAndEquipmentCurrent
51000000 USD
CY2020Q4 cvna Accrued Property Plant And Equipment Current
AccruedPropertyPlantAndEquipmentCurrent
33000000 USD
CY2021Q3 cvna Reserve For Returns And Cancellations Current
ReserveForReturnsAndCancellationsCurrent
45000000 USD
CY2020Q4 cvna Reserve For Returns And Cancellations Current
ReserveForReturnsAndCancellationsCurrent
25000000 USD
CY2021Q3 us-gaap Accrued Advertising Current
AccruedAdvertisingCurrent
38000000 USD
CY2020Q4 us-gaap Accrued Advertising Current
AccruedAdvertisingCurrent
21000000 USD
CY2021Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
32000000 USD
CY2020Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
17000000 USD
CY2021Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
77000000 USD
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
54000000 USD
CY2021Q3 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
700000000 USD
CY2020Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
342000000 USD
cvna Transfer Of Financial Assets Accounted For As Sales Number Of Agreement Types
TransferOfFinancialAssetsAccountedForAsSalesNumberOfAgreementTypes
2 agreementType
CY2017Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2017Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2021Q3 cvna Common Unit Multiplier Used For Conversion Ratio
CommonUnitMultiplierUsedForConversionRatio
1.25 number
cvna Common Stock Conversion Ratio
CommonStockConversionRatio
1.25 number
cvna Noncontrolling Interest Increase As A Result Of Exchanges Of Llc Units
NoncontrollingInterestIncreaseAsAResultOfExchangesOfLLCUnits
32000000 USD
cvna Noncontrolling Interest Increase As A Result Of Exchanges Of Llc Units
NoncontrollingInterestIncreaseAsAResultOfExchangesOfLLCUnits
6000000 USD
cvna Noncontrolling Interest Increase Decrease In Additional Paid In Capital As A Result Of Adjustments To The Noncontrolling Interests And Organizational Transactions
NoncontrollingInterestIncreaseDecreaseInAdditionalPaidInCapitalAsAResultOfAdjustmentsToTheNoncontrollingInterestsAndOrganizationalTransactions
32000000 USD
cvna Noncontrolling Interest Increase Decrease In Additional Paid In Capital As A Result Of Adjustments To The Noncontrolling Interests And Organizational Transactions
NoncontrollingInterestIncreaseDecreaseInAdditionalPaidInCapitalAsAResultOfAdjustmentsToTheNoncontrollingInterestsAndOrganizationalTransactions
-637000000 USD
CY2021Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
14000000 USD
CY2020Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
7000000 USD
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
35000000 USD
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
22000000 USD
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10000000 USD
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6000000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
28000000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
18000000 USD
CY2021Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
103000000 USD
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y10M24D
CY2021Q3 us-gaap Profit Loss
ProfitLoss
-68000000 USD
CY2020Q3 us-gaap Profit Loss
ProfitLoss
-18000000 USD
us-gaap Profit Loss
ProfitLoss
-105000000 USD
us-gaap Profit Loss
ProfitLoss
-308000000 USD
CY2021Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-36000000 USD
CY2020Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-11000000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-59000000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-200000000 USD
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-32000000 USD
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-7000000 USD
us-gaap Net Income Loss
NetIncomeLoss
-46000000 USD
us-gaap Net Income Loss
NetIncomeLoss
-108000000 USD
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
70005000 shares
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
70005000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
81427000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
81427000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
62244000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
62244000 shares
CY2020Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 USD
CY2021Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 USD
CY2021Q3 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Reserves
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsReserves
0 USD
CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Reserves
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsReserves
0 USD
CY2021Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.003 number
CY2020Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.004 number
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.002 number
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.001 number
CY2021Q3 cvna Deferred Tax Liability Not Recognized Tax Receivable Agreement
DeferredTaxLiabilityNotRecognizedTaxReceivableAgreement
1300000000 USD
CY2021Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
11000000 USD
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
1000000 USD
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
1000000 USD
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
1000000 USD
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
1000000 USD
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
1000000 USD
CY2021Q3 cvna Finite Lived Intangible Asset Expected Amortization After Year Four
FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour
0 USD
CY2021Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
5000000 USD
CY2020Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
4000000 USD
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
26000000 USD
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
11000000 USD
CY2021Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
2000000 USD
CY2020Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
1000000 USD
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
5000000 USD
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
3000000 USD
CY2021Q3 cvna Finance Lease Cost
FinanceLeaseCost
13000000 USD
CY2020Q3 cvna Finance Lease Cost
FinanceLeaseCost
5000000 USD
cvna Finance Lease Cost
FinanceLeaseCost
31000000 USD
cvna Finance Lease Cost
FinanceLeaseCost
14000000 USD
CY2021Q3 cvna Fixed Lease Cost
FixedLeaseCost
14000000 USD
CY2020Q3 cvna Fixed Lease Cost
FixedLeaseCost
8000000 USD
cvna Fixed Lease Cost
FixedLeaseCost
35000000 USD
cvna Fixed Lease Cost
FixedLeaseCost
21000000 USD
CY2021Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
16000000 USD
CY2020Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
11000000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
40000000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
28000000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
23000000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
12000000 USD
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
5000000 USD
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
3000000 USD
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
35000000 USD
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
13000000 USD
CY2021Q3 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
13000000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
13000000 USD
CY2021Q3 cvna Lessee Operating And Finance Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingAndFinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
26000000 USD
CY2021Q3 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
46000000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
51000000 USD
CY2021Q3 cvna Lessee Operating And Finance Lease Liability Payments Due Year One
LesseeOperatingAndFinanceLeaseLiabilityPaymentsDueYearOne
97000000 USD
CY2021Q3 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
43000000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
47000000 USD
CY2021Q3 cvna Lessee Operating And Finance Lease Liability Payments Due Year Two
LesseeOperatingAndFinanceLeaseLiabilityPaymentsDueYearTwo
90000000 USD
CY2021Q3 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
34000000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
40000000 USD
CY2021Q3 cvna Lessee Operating And Finance Lease Liability Payments Due Year Three
LesseeOperatingAndFinanceLeaseLiabilityPaymentsDueYearThree
74000000 USD
CY2021Q3 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
25000000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
38000000 USD
CY2021Q3 cvna Lessee Operating And Finance Lease Liability Payments Due Year Four
LesseeOperatingAndFinanceLeaseLiabilityPaymentsDueYearFour
63000000 USD
CY2021Q3 cvna Finance Lease Liability To Be Paid After Year Four
FinanceLeaseLiabilityToBePaidAfterYearFour
13000000 USD
CY2021Q3 cvna Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
224000000 USD
CY2021Q3 cvna Lessee Operating And Finance Lease Liability Payments Due After Year Four
LesseeOperatingAndFinanceLeaseLiabilityPaymentsDueAfterYearFour
237000000 USD
CY2021Q3 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
174000000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
413000000 USD
CY2021Q3 cvna Lessee Operating And Finance Lease Liability Payments Due Total
LesseeOperatingAndFinanceLeaseLiabilityPaymentsDueTotal
587000000 USD
CY2021Q3 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
17000000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
125000000 USD
CY2021Q3 cvna Lessee Operating And Finance Lease Liability Undiscounted Excess Amount
LesseeOperatingAndFinanceLeaseLiabilityUndiscountedExcessAmount
142000000 USD
CY2021Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
157000000 USD
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
288000000 USD
CY2021Q3 cvna Operating And Finance Lease Liability
OperatingAndFinanceLeaseLiability
445000000 USD
CY2021Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P9Y2M12D
CY2020Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P10Y7M6D
CY2021Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P4Y4M24D
CY2020Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P4Y3M18D
CY2021Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.075 number
CY2020Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.083 number
CY2021Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.054 number
CY2020Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.053 number
cvna Standard Product Warranty Period
StandardProductWarrantyPeriod
P100D
cvna Standard Product Warranty Number Of Miles
StandardProductWarrantyNumberOfMiles
4189 mi
CY2021Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
18000000 USD
CY2020Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
11000000 USD
us-gaap Interest Paid Net
InterestPaidNet
82000000 USD
us-gaap Interest Paid Net
InterestPaidNet
55000000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
74000000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
34000000 USD
us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
81000000 USD
us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
37000000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
139000000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
52000000 USD
cvna Equity Based Compensation Capitalized To Property And Equipment
EquityBasedCompensationCapitalizedToPropertyAndEquipment
6000000 USD
cvna Equity Based Compensation Capitalized To Property And Equipment
EquityBasedCompensationCapitalizedToPropertyAndEquipment
4000000 USD
cvna Variable Interest Entity Nonconsolidated Fair Value Received Assets
VariableInterestEntityNonconsolidatedFairValueReceivedAssets
235000000 USD
cvna Variable Interest Entity Nonconsolidated Fair Value Received Assets
VariableInterestEntityNonconsolidatedFairValueReceivedAssets
40000000 USD
cvna Variable Interest Entity Nonconsolidated Reductions In Securitizations And Associated Long Term Debt
VariableInterestEntityNonconsolidatedReductionsInSecuritizationsAndAssociatedLongTermDebt
22000000 USD
cvna Variable Interest Entity Nonconsolidated Reductions In Securitizations And Associated Long Term Debt
VariableInterestEntityNonconsolidatedReductionsInSecuritizationsAndAssociatedLongTermDebt
21000000 USD
cvna Purchase Price Adjustment Receivable Fair Value
PurchasePriceAdjustmentReceivableFairValue
0 USD
cvna Purchase Price Adjustment Receivable Fair Value
PurchasePriceAdjustmentReceivableFairValue
5000000 USD
us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
0 USD
us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
2000000 USD
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
297000000 USD
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
301000000 USD
CY2020Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
174000000 USD
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
76000000 USD
CY2021Q3 us-gaap Restricted Cash Current
RestrictedCashCurrent
107000000 USD
CY2020Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
28000000 USD
CY2020Q3 us-gaap Restricted Cash Current
RestrictedCashCurrent
22000000 USD
CY2019Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
42000000 USD
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
404000000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
329000000 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
196000000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
118000000 USD

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