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CarMax Auto Finance (Tables)
 9 Months Ended
Nov. 30, 2016
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)
2016
 
% (1)
 
2015
 
% (1)
 
2016
 
% (1)
 
2015
 
% (1)
Interest margin:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest and fee income
$
192.7

 
7.5

 
$
172.3

 
7.4

 
$
567.0

 
7.5

 
$
507.0

 
7.5

Interest expense
(44.1
)
 
(1.7
)
 
(33.0
)
 
(1.4
)
 
(125.3
)
 
(1.7
)
 
(91.9
)
 
(1.4
)
Total interest margin
148.6

 
5.8

 
139.3

 
6.0

 
441.7

 
5.9

 
415.1

 
6.2

Provision for loan losses
(41.9
)
 
(1.6
)
 
(30.9
)
 
(1.3
)
 
(104.2
)
 
(1.4
)
 
(70.2
)
 
(1.0
)
Total interest margin after provision for loan losses
106.7

 
4.1

 
108.4

 
4.7

 
337.5

 
4.5

 
344.9

 
5.1

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total other expense
—

 
—

 
(0.3
)
 
—

 
—

 
—

 
(0.4
)
 
—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Direct expenses:

 

 

 

 
 
 
 
 
 
 
 
Payroll and fringe benefit expense
(7.5
)
 
(0.3
)
 
(7.1
)
 
(0.3
)
 
(22.9
)
 
(0.3
)
 
(21.0
)
 
(0.3
)
Other direct expenses
(9.8
)
 
(0.4
)
 
(8.7
)
 
(0.4
)
 
(28.5
)
 
(0.4
)
 
(23.8
)
 
(0.4
)
Total direct expenses
(17.3
)
 
(0.7
)
 
(15.8
)
 
(0.7
)
 
(51.4
)
 
(0.7
)
 
(44.8
)
 
(0.7
)
CarMax Auto Finance income
$
89.4

 
3.5

 
$
92.3

 
4.0

 
$
286.1

 
3.8

 
$
299.7

 
4.5

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total average managed receivables
$
10,297.8

 


 
$
9,261.4

 


 
$
10,030.9

 
 
 
$
8,973.3

 
 

(1)  
Annualized percentage of total average managed receivables.