XML 49 R2.htm IDEA: XBRL DOCUMENT v2.4.1.9
Consolidated Statements Of Earnings (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Nov. 30, 2014
Nov. 30, 2013
Nov. 30, 2014
Nov. 30, 2013
SALES AND OPERATING REVENUES:        
NET SALES AND OPERATING REVENUES $ 3,405,234us-gaap_SalesRevenueNet $ 2,941,407us-gaap_SalesRevenueNet $ 10,754,624us-gaap_SalesRevenueNet $ 9,498,016us-gaap_SalesRevenueNet
Cost of sales 2,958,614us-gaap_CostOfRevenue 2,559,686us-gaap_CostOfRevenue 9,342,934us-gaap_CostOfRevenue 8,233,456us-gaap_CostOfRevenue
GROSS PROFIT 446,620us-gaap_GrossProfit 381,721us-gaap_GrossProfit 1,411,690us-gaap_GrossProfit 1,264,560us-gaap_GrossProfit
CARMAX AUTO FINANCE INCOME 89,722kmx_NetIncomeLossFromFinancing 83,905kmx_NetIncomeLossFromFinancing 276,911kmx_NetIncomeLossFromFinancing 255,346kmx_NetIncomeLossFromFinancing
Selling, general and administrative expenses 316,632us-gaap_SellingGeneralAndAdministrativeExpense 284,366us-gaap_SellingGeneralAndAdministrativeExpense 927,716us-gaap_SellingGeneralAndAdministrativeExpense 857,761us-gaap_SellingGeneralAndAdministrativeExpense
Interest expense 7,338us-gaap_InterestExpense 7,649us-gaap_InterestExpense 22,290us-gaap_InterestExpense 23,288us-gaap_InterestExpense
Other expense 1,536us-gaap_NonoperatingIncomeExpense 411us-gaap_NonoperatingIncomeExpense 2,096us-gaap_NonoperatingIncomeExpense 1,243us-gaap_NonoperatingIncomeExpense
Earnings before income taxes 210,836us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 173,200us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 736,499us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 637,614us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
Income tax provision 80,787us-gaap_IncomeTaxExpenseBenefit 66,748us-gaap_IncomeTaxExpenseBenefit 282,279us-gaap_IncomeTaxExpenseBenefit 244,237us-gaap_IncomeTaxExpenseBenefit
NET EARNINGS 130,049us-gaap_NetIncomeLoss 106,452us-gaap_NetIncomeLoss 454,220us-gaap_NetIncomeLoss 393,377us-gaap_NetIncomeLoss
WEIGHTED AVERAGE COMMON SHARES:        
Basic 214,228us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 223,259us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 217,568us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 223,831us-gaap_WeightedAverageNumberOfSharesOutstandingBasic
Diluted 217,025us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 227,417us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 220,585us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 227,870us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding
NET EARNINGS PER SHARE:        
Basic $ 0.61us-gaap_EarningsPerShareBasic $ 0.48us-gaap_EarningsPerShareBasic $ 2.09us-gaap_EarningsPerShareBasic $ 1.76us-gaap_EarningsPerShareBasic
Diluted $ 0.60us-gaap_EarningsPerShareDiluted $ 0.47us-gaap_EarningsPerShareDiluted $ 2.06us-gaap_EarningsPerShareDiluted $ 1.73us-gaap_EarningsPerShareDiluted
Used Vehicle Sales [Member]        
SALES AND OPERATING REVENUES:        
Used vehicle sales 2,794,515kmx_UsedVehicleSalesRevenue
/ us-gaap_StatementScenarioAxis
= kmx_UsedVehicleSalesMember
2,396,840kmx_UsedVehicleSalesRevenue
/ us-gaap_StatementScenarioAxis
= kmx_UsedVehicleSalesMember
8,775,021kmx_UsedVehicleSalesRevenue
/ us-gaap_StatementScenarioAxis
= kmx_UsedVehicleSalesMember
7,738,118kmx_UsedVehicleSalesRevenue
/ us-gaap_StatementScenarioAxis
= kmx_UsedVehicleSalesMember
Percentage of Sales        
Item as a percent of net sales and operating revenues 82.10%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= kmx_UsedVehicleSalesMember
[1] 81.50%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= kmx_UsedVehicleSalesMember
[1] 81.60%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= kmx_UsedVehicleSalesMember
[1] 81.50%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= kmx_UsedVehicleSalesMember
[1]
New Vehicle Sales [Member]        
SALES AND OPERATING REVENUES:        
New vehicle sales 54,561kmx_NewVehicleSalesRevenue
/ us-gaap_StatementScenarioAxis
= kmx_NewVehicleSalesMember
50,073kmx_NewVehicleSalesRevenue
/ us-gaap_StatementScenarioAxis
= kmx_NewVehicleSalesMember
194,294kmx_NewVehicleSalesRevenue
/ us-gaap_StatementScenarioAxis
= kmx_NewVehicleSalesMember
162,502kmx_NewVehicleSalesRevenue
/ us-gaap_StatementScenarioAxis
= kmx_NewVehicleSalesMember
Percentage of Sales        
Item as a percent of net sales and operating revenues 1.60%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= kmx_NewVehicleSalesMember
[1] 1.70%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= kmx_NewVehicleSalesMember
[1] 1.80%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= kmx_NewVehicleSalesMember
[1] 1.70%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= kmx_NewVehicleSalesMember
[1]
Wholesale Vehicle Sales [Member]        
SALES AND OPERATING REVENUES:        
Wholesale vehicle sales 481,676kmx_WholesaleVehicleSalesRevenue
/ us-gaap_StatementScenarioAxis
= kmx_WholesaleVehicleSalesMember
437,272kmx_WholesaleVehicleSalesRevenue
/ us-gaap_StatementScenarioAxis
= kmx_WholesaleVehicleSalesMember
1,557,191kmx_WholesaleVehicleSalesRevenue
/ us-gaap_StatementScenarioAxis
= kmx_WholesaleVehicleSalesMember
1,402,838kmx_WholesaleVehicleSalesRevenue
/ us-gaap_StatementScenarioAxis
= kmx_WholesaleVehicleSalesMember
Percentage of Sales        
Item as a percent of net sales and operating revenues 14.10%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= kmx_WholesaleVehicleSalesMember
[1] 14.90%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= kmx_WholesaleVehicleSalesMember
[1] 14.50%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= kmx_WholesaleVehicleSalesMember
[1] 14.80%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= kmx_WholesaleVehicleSalesMember
[1]
Other Sales And Revenues [Member]        
SALES AND OPERATING REVENUES:        
Other sales and revenues $ 74,482us-gaap_OtherSalesRevenueNet
/ us-gaap_StatementScenarioAxis
= kmx_OtherSalesAndRevenuesMember
$ 57,222us-gaap_OtherSalesRevenueNet
/ us-gaap_StatementScenarioAxis
= kmx_OtherSalesAndRevenuesMember
$ 228,118us-gaap_OtherSalesRevenueNet
/ us-gaap_StatementScenarioAxis
= kmx_OtherSalesAndRevenuesMember
$ 194,558us-gaap_OtherSalesRevenueNet
/ us-gaap_StatementScenarioAxis
= kmx_OtherSalesAndRevenuesMember
Percentage of Sales        
Item as a percent of net sales and operating revenues 2.20%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= kmx_OtherSalesAndRevenuesMember
[1] 1.90%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= kmx_OtherSalesAndRevenuesMember
[1] 2.10%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= kmx_OtherSalesAndRevenuesMember
[1] 2.00%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= kmx_OtherSalesAndRevenuesMember
[1]
Net Sales And Operating Revenues [Member]        
Percentage of Sales        
Item as a percent of net sales and operating revenues 100.00%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= kmx_NetSalesAndOperatingRevenuesMember
[1] 100.00%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= kmx_NetSalesAndOperatingRevenuesMember
[1] 100.00%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= kmx_NetSalesAndOperatingRevenuesMember
[1] 100.00%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= kmx_NetSalesAndOperatingRevenuesMember
[1]
Cost Of Sales [Member]        
Percentage of Sales        
Item as a percent of net sales and operating revenues 86.90%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= us-gaap_CostOfSalesMember
[1] 87.00%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= us-gaap_CostOfSalesMember
[1] 86.90%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= us-gaap_CostOfSalesMember
[1] 86.70%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= us-gaap_CostOfSalesMember
[1]
Gross Profit [Member]        
Percentage of Sales        
Item as a percent of net sales and operating revenues 13.10%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= kmx_GrossProfitMember
[1] 13.00%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= kmx_GrossProfitMember
[1] 13.10%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= kmx_GrossProfitMember
[1] 13.30%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= kmx_GrossProfitMember
[1]
CAF Income [Member]        
Percentage of Sales        
Item as a percent of net sales and operating revenues 2.60%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= kmx_NetIncomeLossFromFinancingMember
[1] 2.90%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= kmx_NetIncomeLossFromFinancingMember
[1] 2.60%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= kmx_NetIncomeLossFromFinancingMember
[1] 2.70%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= kmx_NetIncomeLossFromFinancingMember
[1]
Selling, General And Administrative Expenses [Member]        
Percentage of Sales        
Item as a percent of net sales and operating revenues 9.30%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= us-gaap_SellingGeneralAndAdministrativeExpensesMember
[1] 9.70%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= us-gaap_SellingGeneralAndAdministrativeExpensesMember
[1] 8.60%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= us-gaap_SellingGeneralAndAdministrativeExpensesMember
[1] 9.00%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= us-gaap_SellingGeneralAndAdministrativeExpensesMember
[1]
Interest Expense [Member]        
Percentage of Sales        
Item as a percent of net sales and operating revenues 0.20%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= us-gaap_InterestExpenseMember
[1] 0.30%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= us-gaap_InterestExpenseMember
[1] 0.20%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= us-gaap_InterestExpenseMember
[1] 0.20%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= us-gaap_InterestExpenseMember
[1]
Other Loss Income [Member]        
Percentage of Sales        
Item as a percent of net sales and operating revenues 0.00%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= us-gaap_NonoperatingIncomeExpenseMember
[1] 0.00%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= us-gaap_NonoperatingIncomeExpenseMember
[1] 0.00%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= us-gaap_NonoperatingIncomeExpenseMember
[1] 0.00%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= us-gaap_NonoperatingIncomeExpenseMember
[1]
Earnings Before Income Taxes [Member]        
Percentage of Sales        
Item as a percent of net sales and operating revenues 6.20%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= kmx_EarningsBeforeIncomeTaxesMember
[1] 5.90%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= kmx_EarningsBeforeIncomeTaxesMember
[1] 6.80%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= kmx_EarningsBeforeIncomeTaxesMember
[1] 6.70%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= kmx_EarningsBeforeIncomeTaxesMember
[1]
Income Tax Provision [Member]        
Percentage of Sales        
Item as a percent of net sales and operating revenues 2.40%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= kmx_IncomeTaxProvisionMember
[1] 2.30%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= kmx_IncomeTaxProvisionMember
[1] 2.60%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= kmx_IncomeTaxProvisionMember
[1] 2.60%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= kmx_IncomeTaxProvisionMember
[1]
Net Earnings [Member]        
Percentage of Sales        
Item as a percent of net sales and operating revenues 3.80%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= kmx_NetEarningsMember
[1] 3.60%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= kmx_NetEarningsMember
[1] 4.20%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= kmx_NetEarningsMember
[1] 4.10%kmx_ItemAsPercentOfNetSalesAndOperatingRevenues
/ us-gaap_StatementScenarioAxis
= kmx_NetEarningsMember
[1]
[1] Calculated as a percentage of net sales and operating revenues and may not equal totals due to rounding.