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Consolidated Statements Of Earnings - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Aug. 31, 2023
Aug. 31, 2022
Aug. 31, 2023
Aug. 31, 2022
SALES AND OPERATING REVENUES:        
NET SALES AND OPERATING REVENUES $ 7,073,836 $ 8,144,803 $ 14,760,899 $ 17,456,424
TOTAL COST OF SALES 6,377,071 7,407,658 13,246,744 15,843,888
GROSS PROFIT  696,765 737,145 1,514,155 1,612,536
CARMAX AUTO FINANCE INCOME  134,987 182,869 272,345 387,342
Selling, general and administrative expenses 585,694 666,041 1,145,531 1,322,781
Depreciation, Depletion and Amortization, Nonproduction 58,817 57,692 117,236 113,340
Interest expense 31,585 32,745 62,051 61,520
Other income (2,630) (4,039) (3,844) (1,940)
Earnings before income taxes 158,286 167,575 465,526 504,177
Income tax provision 39,651 41,670 118,593 126,007
NET EARNINGS  $ 118,635 $ 125,905 $ 346,933 $ 378,170
WEIGHTED AVERAGE COMMON SHARES:        
Basic, shares 158,479 158,801 158,298 159,556
Diluted, shares 159,238 160,218 158,900 161,015
NET EARNINGS PER SHARE:        
Basic (in dollars per share) $ 0.75 $ 0.79 $ 2.19 $ 2.37
Diluted (in dollars per share) $ 0.75 $ 0.79 $ 2.18 $ 2.35
Used vehicle sales        
SALES AND OPERATING REVENUES:        
NET SALES AND OPERATING REVENUES $ 5,591,143 $ 6,284,085 $ 11,592,614 $ 13,298,575
TOTAL COST OF SALES 5,139,034 5,789,098 10,625,880 12,240,108
Wholesale vehicle sales        
SALES AND OPERATING REVENUES:        
NET SALES AND OPERATING REVENUES 1,321,975 1,690,326 2,836,338 3,806,843
TOTAL COST OF SALES 1,185,359 1,549,669 2,531,897 3,474,519
Total other sales and revenues        
SALES AND OPERATING REVENUES:        
NET SALES AND OPERATING REVENUES 160,718 170,392 331,947 351,006
TOTAL COST OF SALES $ 52,678 $ 68,891 $ 88,967 $ 129,261
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 90.20% 90.90% 89.70% 90.80%
GROSS PROFIT         
Percentage of Sales        
Item as a percent of net sales and operating revenues 9.80% 9.10% 10.30% 9.20%
CARMAX AUTO FINANCE INCOME         
Percentage of Sales        
Item as a percent of net sales and operating revenues 1.90% 2.20% 1.80% 2.20%
Selling, general and administrative expenses        
Percentage of Sales        
Item as a percent of net sales and operating revenues 8.30% 8.20% 7.80% 7.60%
Depreciation and Amortization, Nonproduction        
Percentage of Sales        
Item as a percent of net sales and operating revenues 0.80% 0.70% 0.80% 0.60%
Interest expense        
Percentage of Sales        
Item as a percent of net sales and operating revenues 0.40% 0.40% 0.40% 0.40%
Other income        
Percentage of Sales        
Item as a percent of net sales and operating revenues 0.00% 0.00% 0.00% 0.00%
Earnings before income taxes        
Percentage of Sales        
Item as a percent of net sales and operating revenues 2.20% 2.10% 3.20% 2.90%
Income tax provision        
Percentage of Sales        
Item as a percent of net sales and operating revenues 0.60% 0.50% 0.80% 0.70%
NET EARNINGS         
Percentage of Sales        
Item as a percent of net sales and operating revenues 1.70% 1.50% 2.40% 2.20%
NET SALES AND OPERATING REVENUES | Used vehicle sales        
Percentage of Sales        
Item as a percent of net sales and operating revenues 79.00% 77.20% 78.50% 76.20%
NET SALES AND OPERATING REVENUES | Wholesale vehicle sales        
Percentage of Sales        
Item as a percent of net sales and operating revenues 18.70% 20.80% 19.20% 21.80%
NET SALES AND OPERATING REVENUES | Total other sales and revenues        
Percentage of Sales        
Item as a percent of net sales and operating revenues 2.30% 2.10% 2.20% 2.00%
TOTAL COST OF SALES | Used vehicle sales        
Percentage of Sales        
Item as a percent of net sales and operating revenues 72.60% 71.10% 72.00% 70.10%
TOTAL COST OF SALES | Wholesale vehicle sales        
Percentage of Sales        
Item as a percent of net sales and operating revenues 16.80% 19.00% 17.20% 19.90%
TOTAL COST OF SALES | Total other sales and revenues        
Percentage of Sales        
Item as a percent of net sales and operating revenues 0.70% 0.80% 0.60% 0.70%