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CarMax Auto Finance (Tables) | 9 Months Ended
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Nov. 30, 2021
CarMax Auto Finance Income [Abstract] |
Components Of CarMax Auto Finance Income | Components of CAF Income
| Three Months Ended November 30 |  | Nine Months Ended November 30
(In millions) | 2021 |  | % (1) |  | 2020 |  | % (1) |  | 2021 |  | % (1) |  | 2020 |  | % (1)
Interest margin: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest and fee income | $ | 330.0 |  |  | 8.6 |  |  | $ | 288.5 |  |  | 8.5 |  |  | $ | 964.4 |  |  | 8.7 |  |  | $ | 851.1 |  |  | 8.5 |
Interest expense | (53.6) |  |  | (1.4) |  |  | (77.1) |  |  | (2.3) |  |  | (180.0) |  |  | (1.6) |  |  | (243.0) |  |  | (2.4) |
Total interest margin | 276.4 |  |  | 7.2 |  |  | 211.4 |  |  | 6.3 |  |  | 784.4 |  |  | 7.1 |  |  | 608.1 |  |  | 6.1 |
Provision for loan losses | (76.2) |  |  | (2.0) |  |  | (8.2) |  |  | (0.2) |  |  | (87.3) |  |  | (0.8) |  |  | (156.1) |  |  | (1.6) |
Total interest margin after provision for loan losses | 200.2 |  |  | 5.2 |  |  | 203.2 |  |  | 6.0 |  |  | 697.1 |  |  | 6.3 |  |  | 452.0 |  |  | 4.5 |
Total other expense | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (2.2) |  |  | — |
Direct expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Payroll and fringe benefit expense | (12.7) |  |  | (0.3) |  |  | (11.6) |  |  | (0.3) |  |  | (37.7) |  |  | (0.3) |  |  | (34.2) |  |  | (0.3) |
Depreciation and amortization | (2.4) |  |  | (0.1) |  |  | (0.2) |  |  | — |  |  | (2.8) |  |  | — |  |  | (0.6) |  |  | — |
Other direct expenses | (19.2) |  |  | (0.5) |  |  | (15.0) |  |  | (0.4) |  |  | (48.9) |  |  | (0.4) |  |  | (40.4) |  |  | (0.4) |
Total direct expenses | (34.3) |  |  | (0.9) |  |  | (26.8) |  |  | (0.8) |  |  | (89.4) |  |  | (0.8) |  |  | (75.2) |  |  | (0.7) |
CarMax Auto Finance income | $ | 166.0 |  |  | 4.3 |  |  | $ | 176.4 |  |  | 5.2 |  |  | $ | 607.7 |  |  | 5.5 |  |  | $ | 374.6 |  |  | 3.7 |
Total average managed receivables | $ | 15,288.8 |  |  |  |  | $ | 13,517.5 |  |  |  |  | $ | 14,706.9 |  |  |  |  | $ | 13,381.6 |  |  |
(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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