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CarMax Auto Finance (Tables) | 12 Months Ended
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Feb. 28, 2021
CarMax Auto Finance Income [Abstract] |
Components Of CarMax Auto Finance Income | Components of CAF Income
| Years Ended February 28 or 29
(In millions) | 2021 |  | % (1) |  | 2020 |  | % (1) |  | 2019 |  | % (1)
Interest margin: |  |  |  |  |  |  |  |  |  |  |
Interest and fee income | $ | 1,142.0 |  |  | 8.5 |  |  | $ | 1,104.1 |  |  | 8.4 |  |  | $ | 972.9 |  |  | 8.0 |
Interest expense | (314.1) |  |  | (2.3) |  |  | (358.1) |  |  | (2.7) |  |  | (289.3) |  |  | (2.4) |
Total interest margin | 827.9 |  |  | 6.1 |  |  | 746.0 |  |  | 5.7 |  |  | 683.6 |  |  | 5.6 |
Provision for loan losses | (160.7) |  |  | (1.2) |  |  | (185.7) |  |  | (1.4) |  |  | (153.8) |  |  | (1.3) |
Total interest margin after |  |  |  |  |  |  |  |  |  |  |
provision for loan losses | 667.2 |  |  | 5.0 |  |  | 560.3 |  |  | 4.3 |  |  | 529.8 |  |  | 4.4 |
Total other expense | (2.2) |  |  | — |  |  | — |  |  | — |  |  | (0.4) |  |  | — |
Direct expenses: |  |  |  |  |  |  |  |  |  |  |
Payroll and fringe benefit expense | (46.0) |  |  | (0.3) |  |  | (42.3) |  |  | (0.3) |  |  | (38.3) |  |  | (0.3) |
Other direct expenses | (56.2) |  |  | (0.4) |  |  | (62.0) |  |  | (0.5) |  |  | (52.4) |  |  | (0.4) |
Total direct expenses | (102.2) |  |  | (0.8) |  |  | (104.3) |  |  | (0.8) |  |  | (90.7) |  |  | (0.7) |
CarMax Auto Finance income | $ | 562.8 |  |  | 4.2 |  |  | $ | 456.0 |  |  | 3.5 |  |  | $ | 438.7 |  |  | 3.6 |
Total average managed receivables | $ | 13,463.3 |  |  |  |  | $ | 13,105.1 |  |  |  |  | $ | 12,150.2 |  |  |
(1) Percent of total average managed receivables.

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- Definition Auto Finance Income [Abstract] + References No definition available. + Details
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- Definition Schedule Of Components Of Net Income Loss From Financing [Table Text Block] + References No definition available. + Details
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