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CarMax Auto Finance (Tables)
 12 Months Ended
Feb. 29, 2020
CarMax Auto Finance Income [Abstract]  
Components Of CarMax Auto Finance Income
Components of CAF Income
 
Years Ended February 29 or 28
(In millions)
2020
 
% (1)
 
2019
 
% (1)
 
2018
 
% (1)
Interest margin:
 
 
 

 
 
 
 
 
 
 
 
Interest and fee income
$
1,104.1

 
8.4

 
$
972.9

 
8.0

 
$
856.6

 
7.6

Interest expense
(358.1
)
 
(2.7
)
 
(289.3
)
 
(2.4
)
 
(215.0
)
 
(1.9
)
Total interest margin
746.0

 
5.7

 
683.6

 
5.6

 
641.6

 
5.7

Provision for loan losses
(185.7
)
 
(1.4
)
 
(153.8
)
 
(1.3
)
 
(137.6
)
 
(1.2
)
Total interest margin after
 
 
 
 
 
 
 
 
 
 
 
provision for loan losses
560.3

 
4.3

 
529.8

 
4.4

 
504.0

 
4.5

 
 
 
 
 
 
 
 
 
 
 
 
Total other (expense) income
—

 
—

 
(0.4
)
 
—

 
0.4

 
—

 
 
 
 
 
 
 
 
 
 
 
 
Direct expenses:
 
 
 
 
 
 
 
 
 
 
 
Payroll and fringe benefit expense
(42.3
)
 
(0.3
)
 
(38.3
)
 
(0.3
)
 
(35.4
)
 
(0.3
)
Other direct expenses
(62.0
)
 
(0.5
)
 
(52.4
)
 
(0.4
)
 
(47.8
)
 
(0.4
)
Total direct expenses
(104.3
)
 
(0.8
)
 
(90.7
)
 
(0.7
)
 
(83.2
)
 
(0.7
)
CarMax Auto Finance income
$
456.0

 
3.5

 
$
438.7

 
3.6

 
$
421.2

 
3.8

 
 
 
 
 
 
 
 
 
 
 
 
Total average managed receivables
$
13,105.1

 
 
 
$
12,150.2

 
 
 
$
11,210.8

 
 
 
 (1) 
Percent of total average managed receivables.