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CarMax Auto Finance (Tables) | 6 Months Ended
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Aug. 31, 2024
CarMax Auto Finance Income [Abstract] |
Components Of CarMax Auto Finance Income | Components of CAF Income
| Three Months Ended August 31 |  | Six Months Ended August 31
(In millions) | 2024 |  | % (1) |  | 2023 |  | % (1) |  | 2024 |  | % (1) |  | 2023 |  | % (1)
Interest margin: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest and fee income | $ | 464.5 |  |  | 10.5 |  |  | $ | 416.9 |  |  | 9.6 |  |  | $ | 917.0 |  |  | 10.4 |  |  | $ | 817.4 |  |  | 9.5 |
Interest expense | (193.7) |  |  | (4.4) |  |  | (152.0) |  |  | (3.5) |  |  | (376.0) |  |  | (4.3) |  |  | (294.6) |  |  | (3.4) |
Total interest margin | 270.8 |  |  | 6.1 |  |  | 264.9 |  |  | 6.1 |  |  | 541.0 |  |  | 6.1 |  |  | 522.8 |  |  | 6.1 |
Provision for loan losses | (112.6) |  |  | (2.5) |  |  | (89.8) |  |  | (2.1) |  |  | (193.8) |  |  | (2.2) |  |  | (170.7) |  |  | (2.0) |
Total interest margin after provision for loan losses | 158.2 |  |  | 3.6 |  |  | 175.1 |  |  | 4.0 |  |  | 347.2 |  |  | 3.9 |  |  | 352.1 |  |  | 4.1 |
Direct expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Payroll and fringe benefit expense | (19.0) |  |  | (0.4) |  |  | (16.8) |  |  | (0.4) |  |  | (37.6) |  |  | (0.4) |  |  | (33.4) |  |  | (0.4) |
Depreciation and amortization | (4.3) |  |  | (0.1) |  |  | (4.1) |  |  | (0.1) |  |  | (8.5) |  |  | (0.1) |  |  | (8.2) |  |  | (0.1) |
Other direct expenses | (19.3) |  |  | (0.4) |  |  | (19.3) |  |  | (0.4) |  |  | (38.5) |  |  | (0.4) |  |  | (38.2) |  |  | (0.4) |
Total direct expenses | (42.6) |  |  | (1.0) |  |  | (40.2) |  |  | (0.9) |  |  | (84.6) |  |  | (1.0) |  |  | (79.8) |  |  | (0.9) |
CarMax Auto Finance income | $ | 115.6 |  |  | 2.6 |  |  | $ | 135.0 |  |  | 3.1 |  |  | $ | 262.6 |  |  | 3.0 |  |  | $ | 272.3 |  |  | 3.2 |
Total average managed receivables | $ | 17,728.8 |  |  |  |  | $ | 17,315.6 |  |  |  |  | $ | 17,640.0 |  |  |  |  | $ | 17,159.5 |  |  |
(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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