CarMax Auto Finance Income (Tables)

12 Months Ended

Feb. 28, 2014

CarMax Auto Finance Income [Abstract]

Components Of CarMax Auto Finance Income

		Years Ended February 28 or 29
(In millions)	2014		% (1)	2013		% (1)	2012		% (1)
Interest margin:
Interest and fee income	$	548.0	8.3	$	495.3	9.2	$	448.7	9.6
Interest expense		(90.0)	(1.4)		(95.1)	(1.8)		(106.1)	(2.3)
Total interest margin		458.0	6.9		400.2	7.4		342.6	7.3
Provision for loan losses		(72.2)	(1.1)		(56.2)	(1.0)		(36.4)	(0.8)
Total interest margin after
provision for loan losses		385.8	5.8		344.0	6.4		306.2	6.6
Other income		0.1	―		―	―		1.5	―
Direct expenses:
Payroll and fringe benefit expense		(22.6)	(0.3)		(21.2)	(0.4)		(20.7)	(0.4)
Other direct expenses		(27.1)	(0.4)		(23.5)	(0.4)		(24.8)	(0.5)
Total direct expenses		(49.7)	(0.8)		(44.7)	(0.8)		(45.5)	(1.0)
CarMax Auto Finance income	$	336.2	5.1	$	299.3	5.6	$	262.2	5.6
Total average managed receivables	$	6,629.5		$	5,385.5		$	4,662.4

(1)   Percent of total average managed receivables.