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CarMax Auto Finance (Tables)
 6 Months Ended
Aug. 31, 2017
CarMax Auto Finance Income [Abstract]  
Components Of CarMax Auto Finance Income
Components of CAF Income

Three Months Ended August 31
 
Six Months Ended August 31
(In millions)
2017
 
% (1)
 
2016
 
% (1)
 
2017
 
% (1)
 
2016
 
% (1)
Interest margin:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest and fee income
$
213.6

 
7.7

 
$
190.2

 
7.6

 
$
420.3

 
7.7

 
$
374.3

 
7.6

Interest expense
(52.2
)
 
(1.9
)
 
(41.8
)
 
(1.7
)
 
(101.2
)
 
(1.8
)
 
(81.2
)
 
(1.6
)
Total interest margin
161.4

 
5.8

 
148.4

 
5.9

 
319.1

 
5.8

 
293.1

 
5.9

Provision for loan losses
(32.9
)
 
(1.2
)
 
(35.7
)
 
(1.4
)
 
(61.5
)
 
1.1

 
(62.3
)
 
(1.3
)
Total interest margin after provision for loan losses
128.5

 
4.6

 
112.7

 
4.5

 
257.6

 
4.7

 
230.8

 
4.7

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Direct expenses:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Payroll and fringe benefit expense
(8.8
)
 
(0.3
)
 
(7.7
)
 
(0.3
)
 
(17.3
)
 
(0.3
)
 
(15.4
)
 
(0.3
)
Other direct expenses
(11.8
)
 
(0.4
)
 
(9.0
)
 
(0.4
)
 
(23.0
)
 
(0.4
)
 
(18.7
)
 
(0.4
)
Total direct expenses
(20.6
)
 
(0.7
)
 
(16.7
)
 
(0.7
)
 
(40.3
)
 
(0.7
)
 
(34.1
)
 
(0.7
)
CarMax Auto Finance income
$
107.9

 
3.9

 
$
96.0

 
3.8

 
$
217.3

 
4.0

 
$
196.7

 
4.0

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total average managed receivables
$
11,112.0

 
 

 
$
10,049.8

 


 
$
10,970.8

 
 
 
$
9,897.4

 
 

(1)  
Annualized percentage of total average managed receivables.