XML 18 R2.htm IDEA: XBRL DOCUMENT v3.20.4
Consolidated Statements Of Earnings - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Nov. 30, 2020
Nov. 30, 2019
Nov. 30, 2020
Nov. 30, 2019
SALES AND OPERATING REVENUES:        
NET SALES AND OPERATING REVENUES $ 5,184,944 $ 4,790,028 $ 13,785,892 $ 15,357,497
TOTAL COST OF SALES 4,553,514 4,176,381 12,048,136 13,308,014
GROSS PROFIT  631,430 613,647 1,737,756 2,049,483
CARMAX AUTO FINANCE INCOME  176,445 114,033 374,590 344,123
Selling, general and administrative expenses 478,797 484,848 1,342,721 1,455,339
Interest expense 19,462 21,843 65,889 60,700
Other (income) expense (887) (6,570) 728 (6,786)
Earnings before income taxes 310,503 227,559 703,008 884,353
Income tax provision 75,203 54,403 166,034 210,854
NET EARNINGS  $ 235,300 $ 173,156 $ 536,974 $ 673,499
WEIGHTED AVERAGE COMMON SHARES:        
Basic, shares 163,732 164,273 163,278 165,321
Diluted, shares 165,773 166,534 164,976 167,154
NET EARNINGS PER SHARE:        
Basic (in dollars per share) $ 1.44 $ 1.05 $ 3.29 $ 4.07
Diluted (in dollars per share) $ 1.42 $ 1.04 $ 3.25 $ 4.03
Used vehicle sales        
SALES AND OPERATING REVENUES:        
NET SALES AND OPERATING REVENUES $ 4,209,748 $ 4,028,811 $ 11,385,183 $ 12,915,763
TOTAL COST OF SALES 3,791,134 3,615,704 10,223,875 11,549,445
Wholesale vehicle sales        
SALES AND OPERATING REVENUES:        
NET SALES AND OPERATING REVENUES 828,362 610,983 1,990,296 1,951,718
TOTAL COST OF SALES 713,961 504,177 1,669,595 1,601,573
Total other sales and revenues        
SALES AND OPERATING REVENUES:        
NET SALES AND OPERATING REVENUES 146,834 150,234 410,413 490,016
TOTAL COST OF SALES $ 48,419 $ 56,500 $ 154,666 $ 156,996
NET SALES AND OPERATING REVENUES        
Percentage of Sales        
Item as a percent of net sales and operating revenues 100.00% 100.00% 100.00% 100.00%
TOTAL COST OF SALES        
Percentage of Sales        
Item as a percent of net sales and operating revenues 87.80% 87.20% 87.40% 86.70%
GROSS PROFIT         
Percentage of Sales        
Item as a percent of net sales and operating revenues 12.20% 12.80% 12.60% 13.30%
CARMAX AUTO FINANCE INCOME         
Percentage of Sales        
Item as a percent of net sales and operating revenues 3.40% 2.40% 2.70% 2.20%
Selling, general and administrative expenses        
Percentage of Sales        
Item as a percent of net sales and operating revenues 9.20% 10.10% 9.70% 9.50%
Interest expense        
Percentage of Sales        
Item as a percent of net sales and operating revenues 0.40% 0.50% 0.50% 0.40%
Other (income) expense        
Percentage of Sales        
Item as a percent of net sales and operating revenues 0.00% (0.10%) 0.00% 0.00%
Earnings before income taxes        
Percentage of Sales        
Item as a percent of net sales and operating revenues 6.00% 4.80% 5.10% 5.80%
Income tax provision        
Percentage of Sales        
Item as a percent of net sales and operating revenues 1.50% 1.10% 1.20% 1.40%
NET EARNINGS         
Percentage of Sales        
Item as a percent of net sales and operating revenues 4.50% 3.60% 3.90% 4.40%
NET SALES AND OPERATING REVENUES | Used vehicle sales        
Percentage of Sales        
Item as a percent of net sales and operating revenues 81.20% 84.10% 82.60% 84.10%
NET SALES AND OPERATING REVENUES | Wholesale vehicle sales        
Percentage of Sales        
Item as a percent of net sales and operating revenues 16.00% 12.80% 14.40% 12.70%
NET SALES AND OPERATING REVENUES | Total other sales and revenues        
Percentage of Sales        
Item as a percent of net sales and operating revenues 2.80% 3.10% 3.00% 3.20%
TOTAL COST OF SALES | Used vehicle sales        
Percentage of Sales        
Item as a percent of net sales and operating revenues 73.10% 75.50% 74.20% 75.20%
TOTAL COST OF SALES | Wholesale vehicle sales        
Percentage of Sales        
Item as a percent of net sales and operating revenues 13.80% 10.50% 12.10% 10.40%
TOTAL COST OF SALES | Total other sales and revenues        
Percentage of Sales        
Item as a percent of net sales and operating revenues 0.90% 1.20% 1.10% 1.00%