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CarMax Auto Finance (Tables) | 3 Months Ended
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May 31, 2021
CarMax Auto Finance Income [Abstract] |
Components Of CarMax Auto Finance Income | Components of CAF Income
| Three Months Ended May 31 |  |
(In millions) | 2021 |  | % (1) |  | 2020 |  | % (1) |  |  |  |  |  |  |  |
Interest margin: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest and fee income | $ | 310.3 |  |  | 8.8 |  |  | $ | 282.5 |  |  | 8.4 |  |  |  |  |  |  |  |  |
Interest expense | (65.8) |  |  | (1.9) |  |  | (84.6) |  |  | (2.5) |  |  |  |  |  |  |  |  |
Total interest margin | 244.5 |  |  | 6.9 |  |  | 197.9 |  |  | 5.9 |  |  |  |  |  |  |  |  |
Provision for loan losses | 24.4 |  |  | 0.7 |  |  | (122.0) |  |  | (3.6) |  |  |  |  |  |  |  |  |
Total interest margin after provision for loan losses | 268.9 |  |  | 7.6 |  |  | 75.9 |  |  | 2.3 |  |  |  |  |  |  |  |  |
Total other expense | — |  |  | — |  |  | (1.9) |  |  | (0.1) |  |  |  |  |  |  |  |  |
Direct expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Payroll and fringe benefit expense | (12.6) |  |  | (0.4) |  |  | (11.2) |  |  | (0.3) |  |  |  |  |  |  |  |  |
Depreciation and amortization | (0.2) |  |  | — |  |  | (0.2) |  |  | — |  |  |  |  |  |  |  |  |
Other direct expenses | (14.4) |  |  | (0.4) |  |  | (11.6) |  |  | (0.3) |  |  |  |  |  |  |  |  |
Total direct expenses | (27.2) |  |  | (0.8) |  |  | (23.0) |  |  | (0.7) |  |  |  |  |  |  |  |  |
CarMax Auto Finance income | $ | 241.7 |  |  | 6.8 |  |  | $ | 51.0 |  |  | 1.5 |  |  |  |  |  |  |  |  |
Total average managed receivables | $ | 14,148.7 |  |  |  |  | $ | 13,408.5 |  |  |  |  |  |  |  |  |  |  |
(1) Annualized percentage 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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