XML 23 R2.htm IDEA: XBRL DOCUMENT v3.21.1
Consolidated Statements Of Earnings - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Feb. 28, 2021
Feb. 29, 2020
Feb. 28, 2019
SALES AND OPERATING REVENUES:      
NET SALES AND OPERATING REVENUES $ 18,950,149 $ 20,319,987 $ 18,173,100
TOTAL COST OF SALES 16,571,024 17,597,647 15,692,509
GROSS PROFIT  2,379,125 2,722,340 2,480,591
CARMAX AUTO FINANCE INCOME  562,810 456,030 438,690
Selling, general and administrative expenses 1,898,775 1,940,067 1,730,275
Interest expense 86,178 83,007 75,792
Other (income) expense (8,275) (5,690) 408
Earnings before income taxes 965,257 1,160,986 1,112,806
Income tax provision 218,338 272,553 270,393
NET EARNINGS  $ 746,919 $ 888,433 $ 842,413
WEIGHTED AVERAGE COMMON SHARES:      
Basic (in shares) 163,183 164,836 174,463
Diluted (in shares) 165,133 166,820 175,884
NET EARNINGS PER SHARE:      
Basic (in dollars per share) $ 4.58 $ 5.39 $ 4.83
Diluted (in dollars per share) $ 4.52 $ 5.33 $ 4.79
Used vehicle sales      
SALES AND OPERATING REVENUES:      
NET SALES AND OPERATING REVENUES $ 15,713,583 $ 17,169,462 $ 15,172,772
TOTAL COST OF SALES 14,124,715 15,349,401 13,544,033
Wholesale vehicle sales      
SALES AND OPERATING REVENUES:      
NET SALES AND OPERATING REVENUES 2,668,753 2,500,042 2,392,992
TOTAL COST OF SALES 2,245,431 2,045,680 1,961,959
Other sales and revenues      
SALES AND OPERATING REVENUES:      
NET SALES AND OPERATING REVENUES 567,813 650,483 607,336
TOTAL COST OF SALES $ 200,878 $ 202,566 $ 186,517
NET SALES AND OPERATING REVENUES      
Percentage of Sales      
Item as a percent of net sales and operating revenues 100.00% 100.00% 100.00%
TOTAL COST OF SALES      
Percentage of Sales      
Item as a percent of net sales and operating revenues 87.40% 86.60% 86.40%
GROSS PROFIT       
Percentage of Sales      
Item as a percent of net sales and operating revenues 12.60% 13.40% 13.60%
CARMAX AUTO FINANCE INCOME       
Percentage of Sales      
Item as a percent of net sales and operating revenues 3.00% 2.20% 2.40%
Selling, general and administrative expenses      
Percentage of Sales      
Item as a percent of net sales and operating revenues 10.00% 9.50% 9.50%
Interest expense      
Percentage of Sales      
Item as a percent of net sales and operating revenues 0.50% 0.40% 0.40%
Other (income) expense      
Percentage of Sales      
Item as a percent of net sales and operating revenues 0.00% 0.00% 0.00%
Earnings before income taxes      
Percentage of Sales      
Item as a percent of net sales and operating revenues 5.10% 5.70% 6.10%
Income tax provision      
Percentage of Sales      
Item as a percent of net sales and operating revenues 1.20% 1.30% 1.50%
NET EARNINGS       
Percentage of Sales      
Item as a percent of net sales and operating revenues 3.90% 4.40% 4.60%
NET SALES AND OPERATING REVENUES | Used vehicle sales      
Percentage of Sales      
Item as a percent of net sales and operating revenues 82.90% 84.50% 83.50%
NET SALES AND OPERATING REVENUES | Wholesale vehicle sales      
Percentage of Sales      
Item as a percent of net sales and operating revenues 14.10% 12.30% 13.20%
NET SALES AND OPERATING REVENUES | Other sales and revenues      
Percentage of Sales      
Item as a percent of net sales and operating revenues 3.00% 3.20% 3.30%
TOTAL COST OF SALES | Used vehicle sales      
Percentage of Sales      
Item as a percent of net sales and operating revenues 74.50% 75.50% 74.50%
TOTAL COST OF SALES | Wholesale vehicle sales      
Percentage of Sales      
Item as a percent of net sales and operating revenues 11.80% 10.10% 10.80%
TOTAL COST OF SALES | Other sales and revenues      
Percentage of Sales      
Item as a percent of net sales and operating revenues 1.10% 1.00% 1.00%