Segment Reporting (Tables)

9 Months Ended

Nov. 30, 2023


	Three Months Ended November 30, 2023
(In thousands)	CarMax Sales Operations		Other		Eliminations		Total
Sales and operating revenues	$	6,111,839	$	36,699	$	—	$	6,148,538
Intersegment sales and operating revenues	—		8,100		(8,100)		—
Total sales and operating revenues	$	6,111,839	$	44,799	$	(8,100)	$	6,148,538
Depreciation and amortization (1)	$	393	$	5,097	$	—	$	5,490
Gross profit	$	586,332	$	27,710	$	(1,179)	$	612,863
Reconciliation to Consolidated Earnings Before Taxes:
CAF Income							148,659
Selling, general and administrative expenses							(559,962)
Depreciation and amortization (2)							(60,623)
Interest expense							(31,265)
Other income (expense)							886
Earnings before income taxes							$	110,558


	Three Months Ended November 30, 2022
(In thousands)	CarMax Sales Operations		Other		Eliminations		Total
Sales and operating revenues	$	6,472,702	$	33,254	$	—	$	6,505,956
Intersegment sales and operating revenues	—		5,549		(5,549)		—
Total sales and operating revenues	$	6,472,702	$	38,803	$	(5,549)	$	6,505,956
Depreciation and amortization (1)	$	404	$	3,735	$	—	$	4,139
Gross profit	$	554,057	$	23,780	$	(1,149)	$	576,688
Reconciliation to Consolidated Earnings Before Taxes:
CAF Income							152,196
Selling, general and administrative expenses							(591,727)
Depreciation and amortization (2)							(57,377)
Interest expense							(30,150)
Other income (expense)							363
Earnings before income taxes							$	49,993


	Nine Months Ended November 30, 2023
(In thousands)	CarMax Sales Operations		Other		Eliminations		Total
Sales and operating revenues	$	20,807,858	$	101,579	$	—	$	20,909,437
Intersegment sales and operating revenues	—		26,165		(26,165)		—
Total sales and operating revenues	$	20,807,858	$	127,744	$	(26,165)	$	20,909,437
Depreciation and amortization (1)	$	1,239	$	14,236	$	—	$	15,475
Gross profit	$	2,053,228	$	77,269	$	(3,479)	$	2,127,018
Reconciliation to Consolidated Earnings Before Taxes:
CAF Income							421,004
Selling, general and administrative expenses							(1,705,493)
Depreciation and amortization (2)							(177,859)
Interest expense							(93,316)
Other income (expense)							4,730
Earnings before income taxes							$	576,084


	Nine Months Ended November 30, 2022
(In thousands)	CarMax Sales Operations		Other		Eliminations		Total
Sales and operating revenues	$	23,860,462	$	101,918	$	—	$	23,962,380
Intersegment sales and operating revenues	—		20,219		(20,219)		—
Total sales and operating revenues	$	23,860,462	$	122,137	$	(20,219)	$	23,962,380
Depreciation and amortization (1)	$	1,092	$	10,199	$	—	$	11,291
Gross profit	$	2,115,631	$	77,869	$	(4,276)	$	2,189,224
Reconciliation to Consolidated Earnings Before Taxes:
CAF Income							539,538
Selling, general and administrative expenses							(1,914,508)
Depreciation and amortization (2)							(170,717)
Interest expense							(91,670)
Other income (expense)							2,303
Earnings before income taxes							$	554,170

(1) Represents only the portion of depreciation and amortization recorded within Cost of sales, and thus included in the calculation of Gross profit.

(2) Exclusive of depreciation and amortization recorded within Cost of sales.