XML 34 R23.htm IDEA: XBRL DOCUMENT v3.8.0.1
CarMax Auto Finance (Tables)
 3 Months Ended
May 31, 2018
CarMax Auto Finance Income [Abstract]  
Components Of CarMax Auto Finance Income
Components of CAF Income


Three Months Ended May 31
(In millions)
2018
 
% (1)
 
2017
 
% (1)
Interest margin:
 
 
 
 
 
 
 
Interest and fee income
$
232.3

 
7.9

 
$
206.7

 
7.6

Interest expense
(63.8
)
 
(2.2
)
 
(49.0
)
 
(1.8
)
Total interest margin
168.5

 
5.7

 
157.7

 
5.8

Provision for loan losses
(30.9
)
 
(1.0
)
 
(28.6
)
 
(1.1
)
Total interest margin after provision for loan losses
137.6

 
4.7

 
129.1

 
4.8

 
 
 
 
 
 
 
 
Direct expenses:
 
 
 
 
 
 
 
Payroll and fringe benefit expense
(9.6
)
 
(0.3
)
 
(8.5
)
 
(0.3
)
Other direct expenses
(12.4
)
 
(0.4
)
 
(11.2
)
 
(0.4
)
Total direct expenses
(22.0
)
 
(0.7
)
 
(19.7
)
 
(0.7
)
CarMax Auto Finance income
$
115.6

 
3.9

 
$
109.4

 
4.0

 
 
 
 
 
 
 
 
Total average managed receivables
$
11,775.4

 


 
$
10,829.5

 



(1)  
Annualized percentage of total average managed receivables.