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CarMax Auto Finance (Tables)
 9 Months Ended
Nov. 30, 2017
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)
2017
 
% (1)
 
2016
 
% (1)
 
2017
 
% (1)
 
2016
 
% (1)
Interest margin:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest and fee income
$
217.1

 
7.6

 
$
192.7

 
7.5

 
$
637.4

 
7.7

 
$
567.0

 
7.5

Interest expense
(55.4
)
 
(2.0
)
 
(44.1
)
 
(1.7
)
 
(156.6
)
 
(1.9
)
 
(125.3
)
 
(1.7
)
Total interest margin
161.7

 
5.7

 
148.6

 
5.8

 
480.8

 
5.8

 
441.7

 
5.9

Provision for loan losses
(37.5
)
 
(1.3
)
 
(41.9
)
 
(1.6
)
 
(99.0
)
 
(1.2
)
 
(104.2
)
 
(1.4
)
Total interest margin after provision for loan losses
124.2

 
4.4

 
106.7

 
4.1

 
381.8

 
4.6

 
337.5

 
4.5

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Direct expenses:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Payroll and fringe benefit expense
(8.9
)
 
(0.3
)
 
(7.5
)
 
(0.3
)
 
(26.2
)
 
(0.3
)
 
(22.9
)
 
(0.3
)
Other direct expenses
(12.5
)
 
(0.4
)
 
(9.8
)
 
(0.4
)
 
(35.5
)
 
(0.4
)
 
(28.5
)
 
(0.4
)
Total direct expenses
(21.4
)
 
(0.8
)
 
(17.3
)
 
(0.7
)
 
(61.7
)
 
(0.7
)
 
(51.4
)
 
(0.7
)
CarMax Auto Finance income
$
102.8

 
3.6

 
$
89.4

 
3.5

 
$
320.1

 
3.9

 
$
286.1

 
3.8

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total average managed receivables
$
11,365.6

 
 

 
$
10,297.8

 


 
$
11,102.4

 
 
 
$
10,030.9

 
 

(1)  
Annualized percentage of total average managed receivables.