CPRT — what changed in the latest 10-K

Text added vs the prior filing · source: 10-K · 2026-09-29

• For fiscal 2026, sales of U.S. vehicles, on a unit basis, to International members was 38.2% which represents 45.8% of overall gross transaction per vehicle.

• In fiscal 2026, we opened two new operational facilities in Brazil, and seven new operational facilities in the U.S.

• Our service revenues consist of auction and auction-related sales transaction fees charged for vehicle remarketing services. These auction and auction-related services may include a combination of the following: vehicle purchasing fees: vehicle listing fees; vehicle selling fees that can be based on…

• Our growth strategy is to increase revenues and profitability by, among other things, (i) expanding our insurance vehicle remarketing business internationally; (ii) increasing our whole-car vehicle volumes and related services; (iii) developing and providing technology-enabled services to our vehicl…

• Our strategy is to grow our insurance vehicle remarketing business internationally by leveraging our existing operating capabilities, technology platforms, global buyer network, and relationships with insurance companies. We may pursue this growth through the development or acquisition of facilities…

Text removed vs the prior filing · source: 10-K · 2025-09-26

• material inputs through scrapping, thereby reducing the need for further new resource extraction. In each of these cases, our business facilitates the reduction of the carbon and other environmental footprint of the global transportation industry.

• For fiscal 2025, sales of U.S. vehicles, on a unit basis, to members registered outside the state where the vehicle was located accounted for 69.8% of total vehicles sold; of which 31.0% of vehicles were sold to out of state members within the U.S. and 38.8% were sold to International members, based…

• In fiscal 2024, we opened three new operational facilities in the U.K., one new operational facility in Spain, one new operational facility in Canada, and four new operational facility in the U.S.

• Our service revenues consist of auction and auction-related sales transaction fees charged for vehicle remarketing services. These auction and auction-related services may include a combination of the following: vehicle purchasing fees: vehicle listing fees; vehicle selling fees that can be based on…

• salvage vehicles to repair and resell. Used vehicle dealers generally purchase recovered stolen or slightly damaged vehicles for resale.

Text added vs the prior filing · source: 10-K · 2026-09-29

• We first expanded our operations outside the U.S. in fiscal 2003 with an acquisition in Canada. Subsequently, in fiscal 2007 and fiscal 2008 we made significant acquisitions in the U.K., followed by acquisitions in the U.A.E., Brazil, Germany, and Spain in fiscal 2013, expansions into Bahrain and Om…

• for years. During this period, the acquisitions may operate at a loss and certain acquisitions, while profitable, may operate at a margin percentage that is below our overall operating margin percentage and, accordingly, have an adverse impact on our consolidated results of operations and financial …

• weather conditions can result in an oversupply of salvage vehicles that requires us to incur abnormal expenses to respond to market demands.

• We may incur substantial indebtedness and any failure to meet our debt obligations may adversely affect our business, financial condition, and results of operations.

• We have entered into, and may continue to enter into, arrangements pursuant to which we may incur significant indebtedness, including the 2026 Credit Agreement, which provides for an unsecured revolving credit in an aggregate principal amount of up to $1,250 million maturing on January 23, 2031. If …

Text removed vs the prior filing · source: 10-K · 2025-09-26

• We first expanded our operations outside the U.S. in fiscal 2003 with an acquisition in Canada. Subsequently, in fiscal 2007 and fiscal 2008 we made significant acquisitions in the U.K., followed by acquisitions in the U.A.E., Brazil, Germany, and Spain in fiscal 2013, expansions into Bahrain and Om…

• incur substantial expenses establishing new facilities and operations, acquiring buyers and sellers, and implementing shared services capabilities in international markets. Among other things, we plan to ultimately deploy our proprietary auction technologies at all of our foreign operations, and we …

• Although we have implemented policies, procedures, and training designed to ensure compliance with anti-bribery laws, trade controls and economic sanctions, and similar regulations, our employees or agents may take actions in violation of our policies. We may incur costs or other penalties in the ev…

• In addition, some of our recent acquisitions have required us to integrate non-U.S. companies which had not previously been subject to U.S. law. In many countries outside of the U.S., particularly in those with developing economies, it may be common for persons to engage in business practices prohib…

• We are subject to federal, state and international laws, directives, and regulations relating to the collection, use, retention, disclosure, security, and transfer of personal data. These laws, directives, and regulations, and their interpretation and enforcement continue to evolve and may be incons…

Text added vs the prior filing · source: 10-K · 2026-09-29

• On September 10, 2026, the Company entered into a definitive merger agreement to acquire ACV for $10.50 per share, net to the seller in cash, without interest, subject to any required withholding of taxes, representing an implied equity value of approximately $1.9 billion. The transaction is expecte…

• The following table shows certain data from our consolidated statements of income expressed as a percentage of total service revenues and vehicle sales for fiscal 2026, 2025, and 2024:

• The following table presents a comparison of service revenues for fiscal 2026, 2025, and 2024:

• Service Revenues. The increase in service revenues for fiscal 2026 of $0.9 million, or 0.0 % as compared to fiscal 2025 came from (i) a decrease in the U.S. of $(63.3) million, and (ii) an increase in International of $64.1 million. The decrease in service revenue in the U.S. was primarily related t…

• The following table presents a comparison of vehicle sales for fiscal 2026, 2025, and 2024:

Text removed vs the prior filing · source: 10-K · 2025-09-26

• The following table shows certain data from our consolidated statements of income expressed as a percentage of total service revenues and vehicle sales for fiscal 2025, 2024 and 2023:

• The following table presents a comparison of service revenues for fiscal 2025, 2024 and 2023:

• Service Revenues. The increase in service revenues for fiscal 2025 of $407.7 million, or 11.4% as compared to fiscal 2024 came from (i) an increase in the U.S. of $325.5 million, and (ii) an increase in International of $82.2 million. The growth in the U.S. was driven primarily by an increase in rev…

• The following table presents a comparison of vehicle sales for fiscal 2025, 2024 and 2023:

• Vehicle Sales. The increase in vehicle sales for fiscal 2025 of $2.5 million, or 0.4% as compared to fiscal 2024 came from (i) an increase in the U.S. of $64.9 million and (ii) a decrease in International of $62.4 million. The increase in the U.S. was primarily driven by an increase in volume and an…

Text added vs the prior filing · source: 10-K · 2026-09-29

• The 2026 Credit Agreement bears interest, at our election, at either (1) the applicable fixed rate plus 0.75% to 1.125% or (2) the daily rate plus 0.0% to 0.125%, in each case, depending on the Company’s consolidated total net leverage ratio. Additionally, the unused revolving commitments under the …

Text removed vs the prior filing · source: 10-K · 2025-09-26

• There where no borrowings under the Revolving Loan Facility under the Second Amended and Restated Credit Agreement as of July 31, 2025. The Revolving Loan Facility under the Second Amended and Restated Credit Agreement bears interest, at our election, at either (a) the Base Rate, which is defined as…